Company registration number: 2481025 Charity registration number: 1019182
Sharing One Language
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(A company limited by guarantee) Annual Report and Financial Statements for the year ended 31 December 2023
SHARING ONE LANGUAGE CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees’ Report | 2to5 |
| IndependentExaminer's Report | 6 |
| Statement ofFinancial Activities | 7 |
| Balance Sheet | 8 |
| StatementofCash Flows | 9 |
| NotestotheFinancialStatements | 10to22 |
SHARING ONE LANGUAGE REFERENCE AND ADMINISTRATIVE DETAILS
Secretary S Brewer Charity Registration Number 1019182
Company Registration Number 2481025
The charity is incorporated in England and Wales. Registered Office Bridge Chambers The Strand BARNSTAPLE Devon EX31 1HB Independent Examiner Glover Stanbury Institute of Chartered Accountants in England and Wales 30 Bear Street BARNSTAPLE Devon EX32 7DD Bankers HSBC plc 10 High Street BARNSTAPLE Devon EX31 1BQ
Page 1
SHARING ONE LANGUAGE TRUSTEES' REPORT
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2023.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows: Trustees: AHS White M Hunmifrey DG Luggar Secretary: S Brewer Financial review
Our decision to return to full time employment on January 1st 2023, was made possible because of the excellent response we had had from schools which had missed the courses for the students. We had restarted on May 1st 2022, and quickly took bookings for the remainder of that year.
Pricing the courses was difficult because we had little to go on, but the decision to delay a return to full time employment Was Wise with the whole economic situation so uncertain but by Jan 2023 the forward bookings gave us confidence about the year ahead. This reduced outgoings on salaries had contributed to the encouraging end of year results reflecting a surplus of just over £30k for the 2023 financial year which changed our accumulated funds deficit from £10k at the commencement of the year to a small accumulated funds surplus of £20k at the year end.
We can be pleased with the 2023 accounts finally clearing our deficit, despite continuing uncertainties over financial issues. The two biggest issues relate to host families:
¢ The supply of host families is dwindling - no single known reason but it has meant that we have raised the amount we pay families by up to 25% more. At the same time, we are capping the number of students we can take.
¢ With so few families in Bideford this past year, families have been driving far greater distances and so the fuel payments for host families soared to £18k - an amount well above any estimate we could have expected.
After three years of austerity, it was inevitable that we recognised the commitment staff had put in order that we survive, and so a larger than normal pay adjustment was needed as well.
So, considering these extra demands, surprises and problems, this year can be deemed to have been a very successful one. Our coordinators in Poland and Slovakia have given us a year-round stability with groups coming which has also been important to us as it enables us to retain our good teachers for the year.
Policy on reserves
Sharing One Language holds reserves in its accounts to sustain short term cashflow needs. As the activities are mainly seasonal, reserves are vital to aid cashflow in the winter months. Also, as a contingency against the risks outlined below, the aim is to maintain a reserves level of at least £50,000. In recent years, due to the signficant adverse effect of covid upon theresults of the charity this aim has not been achieved but the trustees are endevouring to build the total accumulated funds back to at least this target level.
Page 2
SHARING ONE LANGUAGE TRUSTEES' REPORT
Objectives and activities
Objects and aims
The aim of Sharing One Language continues to be to provide support for the teaching and learning of English in the countries of Eastern and Central Europe. These countries continue to have economic situations resulting in very low incomes by UK standards and so access to the English language is often restricted as a result because of the cost of tuition and travel.
Sharing One Language’s provision of short courses for students, teachers and future teachers throughout the year in our three centres in North and Mid Devon continues to be the backbone of our work and primary income earner. The recruitment of native speaking teachers is a much lower priority as the demand, as well as the supply of teachers, has continued to fall. School populations are falling, local teachers are teaching larger classes and more lessons and schools cannot afford the additional costs of accommodation required for a native speaking teacher.
Public benefit
As described above, the charity supports the teaching and learning of English in the countries of Eastern and Central Europe. Over the years the charity has provided education to thousands of students and teachers who otherwise would not have access to an English teacher. The groups that visit the United Kingdom also benefit the wider economy as well, particularly in the North Devon area.
The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Statement of trustees’ responsibilities
The trustees (who are also the directors of Sharing One Language for the purposes 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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¢ select suitable accounting policies and apply them consistently;
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¢ observe the methods and principles in the Charities SORP;
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¢ make judgements and estimates that are reasonable and prudent;
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¢ state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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¢ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Page 3
SHARING ONE LANGUAGE TRUSTEES' REPORT
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Structure, governance and management
Nature ofgoverning document
The organisation is a charitable company limited by guarantee. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up the members liability will be a maximum of £1.
Recruitment and appointment of trustees
The Directors of the company are also the charity trustees and manage the organisation as a Board of Trustees. This board is headed by the chairperson. New trustees are appointed by the Board if a suitable candidate is identified who would benefit the company with regard to their knowledge and expertise.
Induction and training of trustees
As such, training of the trustees is minimal although, prior to any appointment, the activities of SOL are explained as part of the induction process.
Organisational structure
The day to day management of the charity is undertaken by the general manager Grenville Yeo. The trustees have commissioned a consultancy review of the structure and future management of Sharing One Language bearing in mind that the general manager will be retiring in the not too distant future although this will be phased in over a number of years.
Major risks and management of those risks
The major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have been established to try to mitigate those risks. The main risks are economic factors, exchange rate fluctuations, changes enacted as part of the Brexit negotiations, the current war in Ukraine and also other political changes in visa policies etc.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Page 4
SHARING ONE LANGUAGE TRUSTEES' REPORT
Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
Cash flow risk
The Charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. However, the charity mainly invoices in GBP which minimises the direct impact of these changes. In addition, the charity's reserves policy and also payment in advance for courses means that there should be no exposure to interest rate charges.
Credit risk
The Charity’s principal financial assets are bank balances and cash, trade and other receivables. The Charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The Charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the Charity uses accumulated funds held in unrestricted reserves. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
The annual report was approved by the trustees of the charity on 16 April 2024 and signed on its behalf by:
M Humtfrey Trustee
Page 5
SHARING ONE LANGUAGE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SHARING ONE LANGUAGE ('THE COMPANY’)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
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
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination becauseIam a member of (ICAEW), which is one of the listed bodies.
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:
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accounting records were not kept in respect of Sharing One Language as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Nigel Bennett FCA Institute of Chartered Accountants in England and Wales (ICAEW)
30 Bear Street BARNSTAPLE Devon EX32 7DD 16 April 2024
Page 6
SHARING ONE LANGUAGE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)
| Total | Total | |||
|---|---|---|---|---|
| Unrestricted | 2023 | 2022 | ||
| Note | £ | £ | £ | |
| Incomeand Endowments from: | ||||
| Donations, legacies and grants | 3 | 483 | 483 | 6,361 |
| Charitable activities | 4 | 884,977 | 884.977 | 403,973 |
| Othertrading activities | 5 | 5,673 | 5,673 | 5,499 |
| Investment income | 6 | 2,017 | 2,017 | 66 |
| Total Income | 893,150 | 893,150 | 415,899 | |
| Expenditure on: | ||||
| Raising funds | 7 | (5,641) | (5,641) | (2,694) |
| Charitable activities | 3 | (856,689) | (856,689) | (381,674) |
| Total Expenditure | (862,330) | (862,330) | (384,368) | |
| Net income | 30,820 | 30,820 | 31,531 | |
| Netmovement in funds | 30,820 | 30.820 | 31,531 | |
| Reconciliation of funds | ||||
| Total funds brought forward | (10,565) | (10,565) | (42,096) | |
| Totalfundscarriedforward | 22 | 20,255 | 20,255 | (10,565) |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 22.
Page 7
SHARING ONE LANGUAGE (REGISTRATION NUMBER: 2481025) BALANCE SHEET AS AT 31 DECEMBER 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 15 | 4,014 | 4,194 |
| Current assets | |||
| Stocks | 16 | 500 | 500 |
| Debtors | 17 | 1,255 | 717 |
| Cash at bank and in hand | 18 | 239,009 | 186,364 |
| 240,764 | 187,581 | ||
| Creditors: Amounts falling duewithinoneyear | 19 | (184,301) | (155,544) |
| Net current assets | 56,463 | 32,037 | |
| Total assets less current liabilities | 60,477 | 36,231 | |
| Creditors: Amounts falling due aftermorethan oneyear | 20 | (40,222) | (46,796) |
| Net assets/(liabilities) | 20,255 | (10,565) | |
| Funds ofthecharity: | |||
| Unrestricted income funds | |||
| Unrestricted funds | 20,255 | (10,565) | |
| Totalfunds | 29 | 20,255 | (10,565) |
For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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e The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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¢ The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 7 to 22 were approved by the trustees, and authorised for issue on 16 April 2024 and signed on their behalf by:
M Humtfrey Trustee
Page 8
SHARING ONE LANGUAGE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2023|2022|
|Note|£|x|
|Cash|flows|from|operating|activities|
|Net cash|income|30,820|31,531|
|Adjustments|to cash|flows|from non-cash|items|
|Depreciation|7|1,035|1,244|
|Investment|income|6|(2,017)|(66)|
|29,838|32,709|
|Working|capital adjustments|
|(Increase)/decrease|in debtors|17|(538)|67|
|(Decrease)/increase|in|creditors|19|(23,947)|6.448|
|Increase|in|deferred|income|20|49,628|105,028|
|Net|cash flows|from operating|activities|54,981|144,252|
|Cash|flows|from|investing|activities|
|Interest|receivable|and|similar|income|6|2.017|66|
|Purchase of tangible|fixed assets|15|(855)|(403)|
|Net|cash flows|from investing|activities|1,162|(337)|
|Cash|flows|from|financing|activities|
|Repayment of loans and borrowings|19|(3,498)|309|
|Net|increase|in|cash and cash|equivalents|52.645|144,224|
|Cash|and cash|equivalents|at|1|January|186,364|42,140|
|Cash and cash equivalents|at|31|December|239,009|186,364|
----- End of picture text -----
All of the cash flows are derived from continuing operations during the above two periods.
Page 9
SHARING ONE LANGUAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1 CHARITY STATUS
The charity is a charity limited by guarantee, incorporated in the United Kingdom and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Bridge Chambers The Strand BARNSTAPLE Devon EX31 1HB
These financial statements were authorised for issue by the trustees on 16 April 2024.
2 ACCOUNTING POLICIES
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Sharing One Language meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. As oulined in the trustees report plans were put in place by the trustees to recover from the turbulent few years as a result of Covid-19. Actions taken by the trustees has enabled a surplus to be generated in the 2023 year. This has enabled the deficit at 31 December 2022 to be entirely cleared during the 2023 financial year and progress also been made towards rebuilding the reserves of the charity back to the minimum level target of £50,000 as outlined in the trustees report.
Page 10
SHARING ONE LANGUAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
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The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement; or
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Amounts invoiced during the year for a subsequent years visit are carried forward within creditors as accrued income.
Other trading activities
Shop income is recognised as earned (that is, as the related goods or services are provided).
Investment income
Investment income is recognised on a receivable basis.
Other income
Income from charitable activities represents amounts receivable as groups visit the United Kingdom. Amounts invoiced during the year for a subsequent years visit are carried forward within creditors as accrued income.
Page 11
SHARING ONE LANGUAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs 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.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including strategic management and trustees meetings and reimbursed expenses.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 12
SHARING ONE LANGUAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Leasehold property improvements Fixtures and fittings
Depreciation method and rate 5% straight line basis 20% reducing balance
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated selling costs. Cost is determined using the first-in, first-out (FIFO). Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Foreign exchange
Transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the statement of financial activities.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Pensions and other post retirement obligations
The charity contributes to a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 13
SHARING ONE LANGUAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
3 INCOME FROM DONATIONS AND LEGACIES
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|
|funds|
|Total|Total|
|General|2023|2022|
|£|e|£|
|Donations|and|legacies;|
|Donations|483|483|536|
|Grants,|including|capital|grants;|
|Government grants|-|-|5,825|
|483|483|6,361|
|4|INCOME FROM CHARITABLE|ACTIVITIES|
|Unrestricted|
|funds|Total|Total|
|General|2023|2022|
|£|£|£|
|Group|contributions|894,977|894,977|398,276|
|Online|lessons|-|-|940|
|894,977|894,977|399,216|
|5|INCOME FROM OTHER|TRADING|ACTIVITIES|
|Unrestricted|
|funds|Total|Total|
|General|funds|2022|
|£|f|£|
|Trading|income;|
|Shop|income from sale|of donated|goods|and|services|5,673|5,673|5,499|
|5,673|5,673|5,499|
|6|INVESTMENT|INCOME|
|Unrestricted|
|funds|Total|Total|
|General|2023|2022|
|£|£|£|
|Interest|receivable|and|similar|income;|
|Interest|receivable|on bank|deposits|2,017|2,017|66|
----- End of picture text -----
Page 14
SHARING ONE LANGUAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
7 EXPENDITURE ON RAISING FUNDS
COSTS OF TRADING ACTIVITIES
| Unrestricted | |||
|---|---|---|---|
| Total | Total | ||
| General | 2023 | 2022 | |
| £ | £ | £ | |
| Costs ofgoods sold | 5,641 | 5,641 | 2,694 |
| 5,641 | 5,641 | 2,694 | |
| 8 EXPENDITURE ONCHARITABLE ACTIVITIES | |||
| Unrestricted | |||
| funds | Total | Total | |
| General | 2023 | 2022 | |
| £ | £ | Fa | |
| Group expenditure | 821,973 | 821,973 | 360,293 |
| 2023 | |||
| £ |
8 EXPENDITURE ON CHARITABLE ACTIVITIES
In addition to the expenditure analysed above, there are also governance costs of £34,716 (2022 - £21,381) which relate directly to charitable activities. See note 9 for further details.
Page 15
SHARING ONE LANGUAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
9 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS
Charitable activities expenditure
| Charitable activities expenditure | |||
|---|---|---|---|
| Unrestricted | |||
| funds | |||
| Total | Total | ||
| General | 2023 | 2022 | |
| £ | £ | £ | |
| Staff costs | 199,174 | 199,174 | 77,804 |
| Host family payments | 365,939 | 365,939 | 150,147 |
| Ferry costs | 12,512 | 12.512 | 9,534 |
| Excursions | 163,022 | 163,022 | 77,774 |
| Drivers accommodation | 6,894 | 6,894 | 3,360 |
| Roomhire, teachers' and co-ordinators’ expenses | 10,981 | 10,981 | 5,746 |
| Light, heatandpower | 9,939 | 9,939 | 2,060 |
| Insurance | 1,971 | 1,971 | 1,367 |
| Repairs and maintenance | 650 | 650 | 2,769 |
| Telephone andfax | 4,410 | 4,410 | 5,444 |
| Office accommodation expenses | 12,959 | 12,959 | 5,766 |
| Printing, postage and stationery | 6,783 | 6,783 | 1,607 |
| Sundryexpenses | 9,363 | 9,363 | 4,822 |
| Travel and subsistence | 5,236 | 5.236 | 1,066 |
| Advertising | 5,036 | 5.036 | 2,842 |
| Legal andprofessional fees | 1,691 | 1,691 | 2,152 |
| Bankcharges and interest | 3,125 | 3,125 | 3,575 |
| Foreign currency (gains)/losses | 396 | 396 | (21) |
| Depreciation | 1,035 | 1,035 | 1,244 |
| Hire ofplantand machinery | 857 | 857 | 12255 |
| 821,973 | 821,973 | 360,293 |
Page 16
SHARING ONE LANGUAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
GOVERNANCE COSTS
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Unrestricted|
|funds|Total|Total|
|General|2023|2022|
|£|£|£|
|Staff costs|
|Wages and salaries|21,218|21,218|13,591|
|Social|security|costs|335|333|21|
|Pension|costs|521|521|203|
|Independent examiner|fees|
|Examination|of the|financial|statements|7,061|7,061|4,919|
|Other governance|costs|5,581|5,581|2,647|
|34,716|34,716|21,381|
|10 NET|INCOMING/OUTGOING|RESOURCES|
|Net|incoming|resources|for the|year|include:|
|2023|2022|
|£|£|
|Depreciation|of fixed|assets|1,035|1,244|
----- End of picture text -----
11 TRUSTEES REMUNERATION AND EXPENSES
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
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SHARING ONE LANGUAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
12 STAFF COSTS
The aggregate payroll costs were as follows:
----- Start of picture text -----
|||||
|---|---|---|---|
|2023|2022|
|3|£|
|Staff costs|during|the year were:|
|Wages and salaries|150,617|12,327|
|Social|security costs|2,118|106|
|Pension|costs|
|2,607|1,014|
|Tuition and guide fees|64,162|19,744|
|Staff training|1,745|180|
|221,249|93.371|
----- End of picture text -----
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
----- Start of picture text -----
||||||
|---|---|---|---|---|
|2023|2022|
|No|No|
|Administration|5|4|
|Management|staff|1|1|
|Teachers,|co-ordinators|and guides|4|2|
|10|7|
----- End of picture text -----
No employee received emoluments of more than £60,000 during the year.
13 INDEPENDENT EXAMINER'S REMUNERATION
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2023|2022|
|s|s|
|Examination|of the|financial|statements|7,061|4,919|
----- End of picture text -----
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SHARING ONE LANGUAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
14 TAXATION
The company is a registered charity and is, therefore, exempt from taxation upon it's charitable activities.
15 TANGIBLE FIXED ASSETS
| 15 TANGIBLE FIXEDTANGIBLE FIXEDFIXED ASSETS | |||
|---|---|---|---|
| Short | |||
| leasehold | Furniture | ||
| property | and | ||
| improvements | equipment | Total | |
| 5 | i | £ | |
| Cost | |||
| At 1 January 2023 | 4,085 | 55,412 | 59,497 |
| Additions | - | 855 | 855 |
| At 31 December 2023 | 4,085 | 56,267 | 60,352 |
| Depreciation | |||
| At 1 January 2023 | 4,053 | 51;250 | 55.303 |
| Charge for the year | a2 | 1,003 | 1,035 |
| At 31 December 2023 | 4,085 | 52,253 | 56,338 |
| Netbook value | |||
| At 31 December 2023 | ° | 4,014 | 4,014 |
| At 31 December 2022 | 32 | 4,162 | 4,194 |
| 16STOCK | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Stocks | 500 | 500 | |
| 17DEBTORS | |||
| 2023 | 2022 | ||
| £ | x | ||
| Prepayments | 1,253 | 275 | |
| Other debtors | - | 442 | |
| L255 | 717 |
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SHARING ONE LANGUAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
18 CASH AND CASH EQUIVALENTS
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Cashon | on | hand | 2,462 | 4,593 |
| Cash | at | bank | 236,547 | 181,771 |
| __239,009 | __186,364 |
19 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Bank loans | 6,798 | 3,722 |
| Trade creditors | 116 | 24,183 |
| Other creditors | 269 | 972 |
| Pension scheme creditor | 885 | 305 |
| Accruals | 5,017 | 4,774 |
| Deferred income | 171,216 | 121,588 |
| 184,301 | 155,544 |
20 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Bank | loans | 40,222 | 46,796 |
21 PENSION AND OTHER SCHEMES
Defined contribution pension scheme
The charity contributes to a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £2,607 (2022 - £1,014).
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SHARING ONE LANGUAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
22 FUNDS
| 22 FUNDSFUNDS | |||||
|---|---|---|---|---|---|
| Balance at | |||||
| 31 | |||||
| Balanceat1 | Incoming | Resources | December | ||
| January2023 | resources | expended | 2023 | ||
| +: | £ | ie | £ | ||
| Unrestricted | funds | ||||
| General | (10,565) | 893,150 | (862,330) | 20,255 | |
| Balance at | |||||
| 31 | |||||
| Balanceat1 | Incoming | Resources | December | ||
| January 2022 | resources | expended | 2022 | ||
| £ | £ | £ | £ | ||
| Unrestricted | funds | ||||
| General | (42,096) | 415,899 | (384,368) | (10,565) |
23 ANALYSIS OF NET ASSETS BETWEEN FUNDS Current year
| Current yearyear | ||
|---|---|---|
| Unrestricted | Total funds at 31 | |
| funds | December | |
| General | 2023 | |
| £ | £ | |
| Tangible fixed assets | 4,014 | 4,014 |
| Current assets | 240,764 | 240,764 |
| Current liabilities | (184,301) | (184,301) |
| Creditors over 1 year | (40,222) | (40,222) |
| Total net assets | 20,255 | 20,255 |
| Prioryear | ||
| Unrestricted | Total funds at 31 | |
| funds | December | |
| General | 2022 | |
| £ | £ | |
| Tangible fixed assets | 4,194 | 4,194 |
| Current assets | 187,581 | 187,581 |
| Current liabilities | (155,544) | (155,544) |
| Creditors over 1 year | (46,796) | (46,796) |
| Total net assets | (10,565) | (10,565) |
| Page21 |
SHARING ONE LANGUAGE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
24 ANALYSIS OF NET FUNDS
| 24 ANALYSIS OFOF NET FUNDS | |||
|---|---|---|---|
| Atl | At 31 | ||
| January | Financing | December | |
| 2023 | cash flows | 2023 | |
| £ | a | i | |
| Cash at bank and in hand | 186,364 | 52.645 | 239,009 |
| Net debt | 186,364 | 52.645 | 239,009 |
| Atl | At 31 | ||
| January | Financing | December | |
| 2022 | cash flows | 2022 | |
| £ | £ | £ | |
| Cash at bank and in hand | 42,140 | 144,224 | 186,364 |
| Netdebt | 42,140 | 144,224 | 186,364 |
Page 22