REWIRED RECOVERY FOUNDATION Financial Information - Year Ended July 31, 2025
Compilation engagement report and financial statements for the Rewired Recovery Foundation.
REWIRED RECOVERY FOUNDATION
Index to Financial Information Year Ended July 31, 2025
COMPILATION ENGAGEMENT REPORT - 1
FINANCIAL INFORMATION
- Statement of Financial Position - 2
- Statement of Revenues and Expenditures - 3
- Statement of Changes in Net Assets - 4
- Notes to Financial Information - 5
COMPILATION ENGAGEMENT REPORT
To the Members of Rewired Recovery Foundation
On the basis of information provided by management, we have compiled the statement of financial position of Rewired Recovery Foundation as at July 31, 2025, and the statements of revenues and expenditures and changes in net assets for the year then ended, and Note 2, which describes the basis of accounting applied in the preparation of the compiled financial information ("financial information").
Management is responsible for the accompanying financial information, including the accuracy and completeness of the underlying information used to compile it and the selection of the basis of accounting.
We performed this engagement in accordance with Canadian Standard on Related Services (CSRS) 4200, Compilation Engagements, which requires us to comply with relevant ethical requirements. Our responsibility is to assist management in the preparation of the financial information.
We have not performed an audit engagement or a review engagement, nor were we required to perform procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an audit opinion or a review conclusion, or provide any form of assurance on the financial information.
Readers are cautioned that the financial information may not be appropriate for their purposes.
Pallan & Assoc. CHARTERED PROFESSIONAL ACCOUNTANTS
Victoria, British Columbia February 1, 2026
REWIRED RECOVERY FOUNDATION
Statement of Financial Position
July 31, 2025
| 2025 | 2024 | |
|---|---|---|
| ASSETS | ||
| CURRENT | ||
| Cash | $ 119,659 | $ 87,840 |
| Accounts receivable | - | 4,500 |
| Inventory | 9,047 | 5,448 |
| Prepaid expenses | 68,845 | 45,642 |
| 197,551 | 143,430 | |
| EQUIPMENT (Note 4) | 1,547 | - |
| $ 199,098 | $ 143,430 | |
| LIABILITIES AND NET ASSETS | ||
| CURRENT | ||
| Accounts payable and accrued liabilities | $ 7,556 | $ 12,044 |
| Deferred income | 118,857 | 40,780 |
| Due to related party | 5 | 5 |
| 126,418 | 52,829 | |
| NET ASSETS | 72,680 | 90,601 |
| $ 199,098 | $ 143,430 |
ON BEHALF OF THE BOARD
____________________ Director
The accompanying notes are an integral part of this financial information
REWIRED RECOVERY FOUNDATION
Statement of Revenues and Expenditures
Year Ended July 31, 2025
| 2025 | 2024 | |
|---|---|---|
| RECEIPTS | ||
| Donations - cash | $ 15,503 | $ 1,414 |
| Donations - treatment beds | 22,700 | - |
| Donations in kind | 29,150 | 391,400 |
| Grants | 6,800 | 49,068 |
| Merchandise sales | 5,350 | - |
| New Years Eve Gala - silent auction | 15,348 | 14,803 |
| New Years Eve Gala - ticket sales | 26,976 | 43,208 |
| Rental revenue | 2,680 | - |
| Soberfest - booth sales | 4,150 | - |
| Soberfest - sponsorships | 33,685 | - |
| Soberfest - ticket sales | 51,005 | - |
| Sponsorships - cash | - | 11,052 |
| 213,347 | 510,945 | |
| DIRECT COSTS | ||
| New Years Eve Gala - event costs | 24,923 | 38,979 |
| Soberfest - event costs | 82,267 | 16,050 |
| Treatment costs | 64,672 | 402,609 |
| 171,862 | 457,638 | |
| GROSS MARGIN | 41,485 | 53,307 |
| EXPENSES | ||
| Advertising and promotion | 8,563 | 2,178 |
| Amortization | 387 | - |
| Computer-related expenses | 1,852 | 3,240 |
| Insurance | - | 1,289 |
| Interest and bank charges | 2,240 | 3,200 |
| Meals and entertainment | 59 | 571 |
| Memberships | 892 | 81 |
| Office | 32 | 193 |
| Professional fees | 9,849 | 3,175 |
| Sub-contracts | 34,800 | - |
| Travel | 732 | 6 |
| 59,406 | 13,933 | |
| EXCESS (DEFICIENCY) OF RECEIPTS OVER EXPENSES FOR THE YEAR | $ (17,921) | $ 39,374 |
The accompanying notes are an integral part of this financial information
REWIRED RECOVERY FOUNDATION
Statement of Changes in Net Assets
Year Ended July 31, 2025
| 2025 | 2024 | |
|---|---|---|
| NET ASSETS - BEGINNING OF YEAR | $ 90,601 | $ 51,227 |
| DEFICIENCY OF RECEIPTS OVER EXPENSES | (17,921) | 39,374 |
| NET ASSETS - END OF YEAR | $ 72,680 | $ 90,601 |
The accompanying notes are an integral part of this financial information
REWIRED RECOVERY FOUNDATION
Notes to Financial Information
Year Ended July 31, 2025
1. PURPOSE OF THE SOCIETY
Rewired Recovery Foundation (the "Society") is a not-for-profit organization registered in the Province of British Columbia. Management has determined that they are exempt from payment of income tax under Section 149(1) of the Income Tax Act.
The Society is engaged in fundraising in order to send individuals with addiction issues to treatment to recover.
2. BASIS OF ACCOUNTING
The basis of accounting applied in the preparation of the statement of financial position of Rewired Recovery Foundation as at July 31, 2025, and the statements of revenues and expenditures and changes in net assets for the year then ended is the historical cost basis and reflects cash transactions with the addition of:
- accounts receivable less an allowance for doubtful accounts
- inventory valued at cost
- prepaid expenses for amounts paid that relate to the next fiscal period
- equipment amortized on the same basis as for income tax
- accounts payable and accrued liabilities
- unearned revenue representing payment received for goods and services not yet provided
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Inventory Inventory is valued at the lower of cost and net realizable value with the cost being determined on a first-in, first-out basis.
Equipment Equipment is stated at cost less accumulated amortization and is amortized over its estimated useful life at the following rates and methods:
- Equipment: 20% declining balance method
4. PROPERTY, PLANT AND EQUIPMENT
| 2025 Cost | 2025 Accumulated amortization | 2024 Cost | 2024 Accumulated amortization | |
|---|---|---|---|---|
| Equipment | $ 1,934 | $ 387 | $ - | $ - |
| Net book value | $ 1,547 | $ - |