REGISTERED COMPANY NUMBER: 12743725 (England and Wales)

REGISTERED CHARITY NUMBER: 1191947

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SJC87 INITIATIVE UK

T/A

87 INITIATIVE

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

13

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 31 December 2024. 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

The primary objectives of the charity are to promote and provide for the advancement of education, Tamil culture, physical and mental health of children, and the relief of poverty. This will be achieved through the provision of grants to its sister charity and individuals, primarily in Sri Lanka and also in the UK.

The trustees are of the opinion that the charity must maintain full transparency, and the published financial statements must include detailed activities including submission of the full financial statements at both company's house and charity commission.

Principal activities and review

The principal activity of the Charity is to provide welfare support for students in both school and higher education, as well as to offer monthly grants to those in need.

Given the positive momentum in raising awareness and support for the charity, the commitment of existing and new donors to provide annual donations, and the high regard in which the charity is held, the risk of the charity experiencing a significant reduction in income from fundraising in the near future is considered low.

Public benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit, and 'The Advancement of culture and education for the Public Benefit' in particular, when reviewing the aims and objectives of the charity and in planning the charity's future activities.The aims of the charity for the public benefit are detailed in the 'Objectives and Activities' section of this report.

Grant Making Policy

The charity makes grants to other charities that fulfil its objects. Before further projects are considered the charity will invite applications through advertising in appropriate media. Detailed selection criteria will be agreed in advance. Other grant requests are received and dealt with when funds are available.

Volunteers

During the period the charity had a number of people working as volunteers. The contribution varied from few hours to days.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year the charity made grants to its sister charity in Sri Lanka, St, John's Batch of 1987 trust, as follows,

Students scholarship(sponsorship) and school help

£29,840

Students wellbeing

£425

Meals to orphanages

£400

Help with the floods in the Upcountry

£1,155

In total the charity sponsored 105 students,

From grade 1 to GCE O/L

14

GCE A/L

28

University

63

Break down of university students by faculty

Faculty

Numbers

Agriculture and Bio systems

5

Arts

29

Engineering

4

Health

5

ICT

3

Science and education

9

Management

8

The charity had no administration cost during the period. The governance cost of £60 relates to bank charges and £15 relates to submission of annual confirmation statement.

Fundraising activities

The charity has a good reputation within the Tamil community and has a pool of regular donors who wish to have a part in the charitable activities of the charity. Existing donors often recommend and encourage other philanthropists to pledge their support to the success of the charity. As such, the trustees do not engage professional fundraisers nor do they undertake public collections or cold calls.

Fundraising encompasses all revenue-generating activities. The charity does not receive any income from Government or State funds.

Almost all the income is generated through word of mouth. During the period, the charity did not conduct any fundraising events. The primary objective of the charity is to maintain zero administration costs, ensuring that all donated funds directly benefit the needy and vulnerable

.

The charity has implemented robust policies to protect vulnerable individuals and ensure fair treatment of donors. No complaints were received during the year regarding fundraising activities.

The charity's sister charity in Sri Lanka, St, John's Batch of 1987 trust, published its audited financial statements for the period ended 31 December 2024 on 25 January 2025 and these were circulated to the donors and well wishers on 5 February 2025.

FINANCIAL REVIEW

Financial position

During the year the charity had net surplus of £2,754 (2023 - £2,164 net expenditure) taking the total funds carried forward to £10,086 (2023 - £7,332).

Reserves policy

The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary income. The trustees consider that the ideal level of reserves as at 31 December 2024 would be three months of resources expended. However the trust is operated as a grant giving charity, and the trustees' policy is to only seek to distribute or commit the income arising in each financial year. The charity had reserves of £10,086 at the year end.

The trustees are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide for future financial stability and flexibility and to enable the charity to expand its activities.

Going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. They have made this assessment in respect of a period of one year from the date of approval of these financial statements.

The trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Trust to continue as a going concern. They are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

FUTURE PLANS

The charity plans to continue giving grants to its sister charity in Sri Lanka, St, John's Batch of 1987 trust and other charities with similar objectives in line with the trustees' vision of making a tangible impact to the activities of the charity's beneficiaries.

Working closely with the sister charity in Sri Lanka, the charity will continue to further the needs of the needy individual's who are of school and higher education age.

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.

Recruitment and appointment of new trustees

There must be at least three trustees at any one time. New trustees must be appointed by a resolution of the Trustees passed at a special meeting.

New trustees are selected for their skill, knowledge and experience needed for the effective administration of the charity. New trustees undergo a formal vetting process before appointment.

Organisational structure

The board of trustees administers the charity. The trustees must hold at least two ordinary meetings each year. One such meeting must involve the physical presence of those trustees in attendance.

The trustees are vigilant to the potential conflict of interest which could arise should they benefit financially from the charity or where their duties as directors of the companies from which donations are received would compete with their duties to the charity.

The trustees consider any potential conflict of interest issues before they take decisions and mitigate these by involving independent third parties where necessary. In addition an independent trustee has been appointed and protocols are in place which require a conflicted trustee to withdraw from any discussions where there may be a potential conflict.

Induction and training of new trustees

Any new trustee will be fully briefed on the history of the trust, and its objectives and plans, as well as the management and operational processes. Trustees can retire when they wish as they do not serve under a fixed term of tenure.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

12743725 (England and Wales)

Registered Charity number

1191947

Registered office

19-20 Bourne Court

Southend Road

Woodford Green

Trustees

Mr T Mohanavel

Mr S Satyendira

Mr S Thurairatnam

Company Secretary

Mr S Thurairatnam

Independent Examiner

Mukesh Itburrun - Sans and Co

43 Heath Road

Chadwell Heath

Romford

Essex

RM6 6LJ

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 9 February 2025 and signed on its behalf by:

Mr S Thurairatnam - Trustee

Independent examiner's report to the trustees of SJC87 Initiative UK ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited 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 matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

FCCA

Mukesh Itburrun - Sans and Co

43 Heath Road

Chadwell Heath

Romford

Essex

RM6 6LJ

9 February 2025

2024

2023

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

46,079

41,836

EXPENDITURE ON

Charitable activities

3

Advancement of education, relief of poverty and advancement of cultural activities

43,250

43,925

Governance cost

75

75

Total

43,325

44,000

NET INCOME/(EXPENDITURE)

2,754

(2,164

)

RECONCILIATION OF FUNDS

Total funds brought forward

7,332

9,496

TOTAL FUNDS CARRIED FORWARD

10,086

7,332

2024

2023

Unrestricted

Total

fund

funds

Notes

£

£

CURRENT ASSETS

Cash at bank

10,086

7,332

NET CURRENT ASSETS

10,086

7,332

TOTAL ASSETS LESS CURRENT LIABILITIES

10,086

7,332

NET ASSETS

10,086

7,332

FUNDS

8

Unrestricted funds

10,086

7,332

TOTAL FUNDS

10,086

7,332

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 9 February 2025 and were signed on its behalf by:

Mr S Thurairatnam - Trustee

Mr T Mohanavel - Trustee

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.

Critical accounting judgements and key sources of estimation uncertainty

Preparation of the accounts requires the trustees and management to make significant judgements and estimates.

The item in the accounts where these judgements and estimates have been made is the valuation of investment properties.

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.

Grants payable

Grants payable are included in the period when any relevant conditions are met by the receiving entity. Payment of later instalments of a grant usually requires satisfactory progress reports from the project.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure

Charitable activities

The cost of charitable activities comprises those incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Taxation

The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

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.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of settlement can be estimated reliably.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method

2.	DONATIONS AND LEGACIES

2024

2023

£

£

Donations

31,835

33,058

Gift aid

14,244

8,778

46,079

41,836

3.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

Support

Direct

(see note

costs (see

Costs

4)

note 5)

Totals

£

£

£

£

Advancement of education, relief of poverty and advancement of cultural activities

-

43,250

-

43,250

Governance cost

15

-

60

75

15

43,250

60

43,325

4.	GRANTS PAYABLE

2024

2023

£

£

Advancement of education, relief of poverty and advancement of cultural activities

43,250

43,925

The total grants paid to institutions during the year was as follows:

2024

2023

£

£

St.John's Batch of 1987 Trust

43,250

43,925

5.	SUPPORT COSTS

Finance

£

Governance cost

60

6.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

7.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

41,836

EXPENDITURE ON

Charitable activities

Advancement of education, relief of poverty and advancement of cultural activities

43,925

Governance cost

75

Total

44,000

NET INCOME/(EXPENDITURE)

(2,164

)

RECONCILIATION OF FUNDS

Total funds brought forward

9,496

TOTAL FUNDS CARRIED FORWARD

7,332

8.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted funds

General fund

7,332

2,754

10,086

TOTAL FUNDS

7,332

2,754

10,086

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

46,079

(43,325

)

2,754

TOTAL FUNDS

46,079

(43,325

)

2,754

Comparatives for movement in funds

Net

movement

At

At 1.1.23

in funds

31.12.23

£

£

£

Unrestricted funds

General fund

9,496

(2,164

)

7,332

TOTAL FUNDS

9,496

(2,164

)

7,332

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

41,836

(44,000

)

(2,164

)

TOTAL FUNDS

41,836

(44,000

)

(2,164

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.1.23

in funds

31.12.24

£

£

£

Unrestricted funds

General fund

9,496

590

10,086

TOTAL FUNDS

9,496

590

10,086

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

87,915

(87,325

)

590

TOTAL FUNDS

87,915

(87,325

)

590

9.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024.