SHINING LIFE CHILDREN’S TRUST
(A company limited by guarantee)
Report and financial statements for the year ended 31 October 2024
Charity number: 1068123 Company number: 03459486
Shining Life Children’s Trust: Annual Report and Financial Statements for the year ended 31 October 2024 Charity number: 1068123 Company number: 03459486
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Shining Life Children’s Trust
(A company limited by guarantee)
Annual Report & Financial statements for the year ended 31 October 2024
Contents
| Page | |
|---|---|
| Legal and administrative information | 3 |
| Trustees’ report | 4 |
| Independent Examiner’s report | 10 |
| Statement of financial activities | 11 |
| Balance sheet | 12 |
| Notes to the financial statements | 13 |
Shining Life Children’s Trust: Annual Report and Financial Statements for the year ended 31 October 2024 Charity number: 1068123 Company number: 03459486
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Shining Life Children’s Trust Report of the Trustees for the year ended 31 October 2024
The Trustees present their report and financial statements for the year ended 31 October 2024.
Legal and administrative information
Charity name: Shining Life Children’s Trust Charity registration number: 1068123 Company registration number: 03459486 Registered office: 1 Chestnut Lane Amersham Buckinghamshire HP6 6EN
Trustees
J Brown, Secretary J Newall, Treasurer S Bayjoo, resigned October 2024
Bankers
CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ HSBC, 2 The Promenade, Cheltenham, Gloucestershire GL50 1LS
Shining Life Children’s Trust: Annual Report and Financial Statements for the year ended 31 October 2024 Charity number: 1068123 Company number: 03459486
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Trustee’s report
Objects and activities
The Charity’s objects as set out in the objects contained in the company’s memorandum of association are to relieve children in Sri Lanka who are in need by the provision of assistance and care in a family environment, education and training. The Charity’s activities are to help children in Sri Lanka who are disadvantaged by poverty and vulnerability, through working in partnership with small local non-governmental organisations and community-based organisations to promote childfocused development, education, health and training within a family and community context and to achieve sustainable development through encouraging self-help, self-reliance and empowerment.
The Trustees constantly review the Charity’s activities to ensure that they meet the Charity’s aims and objectives. The Trustees refer to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aim and objectives and in planning future activities.
The Charity’s operating model is to work in partnership with local Sri Lankan aid agencies, supporting a few small projects. This approach means it is able to impart skills and expertise easily, developing its partners beyond that which a financial partnership offers. In addition the Charity ensures that the benefit of being a small, nimble charity is maximised by being able to review and refocus its resource to maximum benefit within the communities with which it is working.
In addition, the Trust’s low overheads means that a much higher percentage of its funds go directly to its work in Sri Lanka than it does for a large charity.
Since the Charity’s inception it 1997, it has raised a total of over £600,000.
This review looks at the achievements and outcomes of the Charity’s work in the year to 31 October 2024.
How the Charity’s activities deliver public benefit
The main activities and the charity’s beneficiaries are described below. All charitable activities focus on community development and empowerment and are undertaken to further our charitable purposes for the public benefit.
Achievements and performance
The Charity had two continuing projects during the period, in Kirimetiyawatte and Angunochchiya. The Charity delivers these projects in partnership with local organisations, The Women’s Development Centre, WDC, for Kirimetiyawatte and the Human Development Foundation, HDF, for Angunochchiya). The Charity’s aim is for these projects to become self-sustaining through its contracts with the implementing organisations, so that the programmes can continue successfully without additional external support at the end of the project.
Current situation in Sri Lanka
Economic context
Since the economic crisis in 2022 an IMF Extended Fund Facility programme has helped stabilise the economy. Headline inflation has eased, usable official reserves increased, and debt-to-GDP ratio fell. However, the reforms have resulted in higher living costs and strained household budgets. Facing these pressures many households have adopted risky coping strategies including cutting human capital spending, increased borrowing and reduced nutritional food intake. Poverty rates remained alarmingly high at 24.5% in 2024 and is expected to remain above 22% until 2026. Prevalence of both stunting and malnutrition have increased and limited economic opportunities have resulted in increased outmigration of skilled workers.
Shining Life Children’s Trust: Annual Report and Financial Statements for the year ended 31 October 2024 Charity number: 1068123 Company number: 03459486
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Political context
In November 2024 Anura Kumara Dissanayake was elected as President in a landslide victory with his National People’s Power left-leaning coalition securing a 2/3 majority in parliament. Dissanayake won on a platform pledging economic and constitutional change to address corruption and reduce poverty.
Operating model
At the start of the pandemic in 2020, Sri Lanka, in common with other countries, closed its borders. Throughout 2020 the charity’s Field Director stayed in Sri Lanka, directly supporting local partners and the communities. In February 2021 the Field Director returned to the UK. Visa restrictions initially meant that the Charity could not recruit a new Field Director in the UK to travel to Sri Lanka. Instead, with the use of technology – email, WhatsApp, video conferencing – the charity was able to develop a remote operating model. This has proved very successful. It builds on the existing approach of building sustainability and skills of local partners, whilst also reducing costs for the Charity. The Trustees have therefore decided to continue working in this way. The approach will be supplemented by short visits to Sri Lanka by the Trustees and others, to meet directly with partners and communities.
Project activities
Child-Focused Community Development – Implemented by WDC
This project, delivered in partnership with WDC, commenced in November 2019 and concluded in June 2024. The project was focused on three remote villages (Kirimetiya, Sriyagama and Ambalamanam) in the Central Province, about an hour’s drive from Kandy city. The intended outcomes of our work in this area are:
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Strengthened early childhood development support
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Improved quality, experience and outcomes of education for children and young people
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Increased motivation for children to continue with their education
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Increased women, men, youth and child participation in community planning
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Increased capacity of community to address main issues (e.g. transport)
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Establish community groups with the capacity to protect children’s rights
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Strategies identified for livelihood support, with an increase in income generation opportunities
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Increased men’s engagement in the community and the family
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Programme sustainability
95% of the proposed project activities were completed and the communities we worked with were integrated with other ongoing projects WDC is operating. This includes the Commonwealth of Learning (COL) project for livelihood support and economic empowerment activities and with the Save the Children project for continuation of the children’s club activities.
The only activity not completed was the building of the community hall in Ambalanmanam village due to issues with transfer of land ownership from government authorities to the community. Through the project activities and WDC efforts, community cohesion has increased with the Women’s Groups in the villages working together on celebrations and activities.
Angunochchiya Gram Sevaka Division development – Implemented by HDF
This project, delivered in partnership with HDF, commenced in 2017 and ended in 2020. Due to the COVID-19 pandemic this project was extended to end of 2021 with no additional costs to allow planned activities to be completed. In 2022 and 2023 1-year extensions with additional funding were approved with activities focused primarily on the children’s education (tuition classes, library
Shining Life Children’s Trust: Annual Report and Financial Statements for the year ended 31 October 2024 Charity number: 1068123 Company number: 03459486
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books and an educational trip) and the welfare societies (additional funding for the revolving fund and training in organic farming). It was hoped the political and economic turmoil of early 2022 would stabilise and that the project would become self-sufficient. A further 1-year extension was approved in 2024 to focus on sustainability and transition.
The project is focussed on three small farming villages outside Medawachchiya in the North Central Province of Sri Lanka. The overall goal that the communities are self-sufficient and able to thrive without support from Shining Life and HDF. The objectives of the follow-on funding are:
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Improve children’s rights through supportive structures that enable childhood development, protection and participation.
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Improve access to education through provision of rich educational materials, resources and experiences for children and youths.
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Improve economic status and security of the communities.
The welfare societies are functioning well and have grown in strength and capacity. Membership has increased in the past 12-months and the community recognises the value of the welfare societies during difficult times. As HDF have travelled less frequently to the community, the society leaders have stepped up to coordinate activities with HDF supporting remotely. This has included reporting to the AG-office and attendance at meetings and training organised by the AG-office; as well as decision making around project activities (still with input from HDF) and oversight of the implementation of activities. The welfare societies have opened bank accounts with three signatories required for any withdrawals.
The revolving funds are well established and are offering low interest loans to society members. Loans are being repaid and the small interest payment is being reinvested in the fund. The societies have well maintained records to account for loans/repayments. HDF designed, printed and distributed among all the members a new pass books for their individual usage. The groups are well organised with a membership fee, elected members to administer the savings, loans and repayments and maintain transparency. At the moment the loans are primarily small value and used for home-gardening and farming or emergency situations. HDF would like to see the fund evolve to offer larger loans and to see more enterprise and income generation.
The tuition classes have continued to run since 2018 with the parents now contributing towards the stipends for teachers. The classes are well established and meet weekly.
The community in Maligaswewa has started a preschool that is running with three local women teaching and 25 children currently attending. The teachers have been studying for their teaching diplomas alongside working in the preschool and were due to graduate in 2024.
The community farming activities have recently started with individuals selected by the welfare societies to participate. In Angunochchiya there are 7 members, in Lena Divula there are 8 members and in Maligasesewa 6 members growing a combination of cowpea, corn, peanuts and green gram. The funds have been utilised in a revolving fund so the investment for the seeds plus 10% will be returned to the welfare society for reinvestment, and the profit split between the community farming members.
Plans for future periods
The Charity will continue to monitor the continuing project and will aim to start a new project with WDC.
Financial review
At 31 October 2024 the Charity had funds of £69,930, (2023: £54,414), an increase of £15,516 (2023: increase of £6,178). Total incoming resources were £27,372 (2023: £26,395).
Shining Life Children’s Trust: Annual Report and Financial Statements for the year ended 31 October 2024 Charity number: 1068123 Company number: 03459486
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There was a decrease in one-off donations to £3,882 (2023: £6,530) but this was offset by an increase in regular donations to £21,823 (2023: £17,559). These are the preferred form of fundraising as they facilitate forward planning.
The Charity did not have any income from fundraising events (2023: £Nil), because the Charity did not have a major fundraising event this year.
Total expenses were lower at £11,656 (2023: £20,217), mainly because the Charity had a decrease in payments to the projects. Total payments to projects were £10,857 (2023: £19,657). The exchange rate started the year at £1 = Lkr 419. The rate increased to a maximum of £1 = Lkr 450 in later 2023 and early 2024 and then decreased to a minimum £1 = Lkr 359 in June 2023. The rate remained at about £1 = Lkr400 for the rest of the year. In 2024, the rate has decreased slightly to about £1 = Lkr 370. The charity is benefiting from the increase in the exchange rate which helps to mitigate the fact that the inflation rate in Sri Lanka continues to be much higher than in the UK. Inflation risk is managed by holding funds in Sterling.
Fundraising
The Charity did not organise any fundraising events this year.
The Charity continued the sale of Christmas cards for Christmas 2023. Sales of Christmas of Christmas cards decreased this year. The Charity also benefitted from being able to buy cards more cheaply, so generating a higher profit per pack sold. The sale of Christmas cards also leads to additional donations from purchasers. Donations received as a result of selling Christmas cards and gifts are also included in this figure.
Gift aid
The amount of tax reclaimed directly from HMRC by the Charity continues to decline as more of the Charity’s income is received via fundraising websites such as the Charities Trust which reclaim tax on donations made through them on the Charity’s behalf and the Charities Aid Foundation. This reclaimed Gift Aid is therefore included in the fundraising totals.
Investment policy
The Charity’s cash balances continue to be invested in the CAFCash Gold Account, keeping sufficient funds in the current account for immediate requirements.
Bank charges
The Charity’s main banker, CAF Bank continues to impose a monthly charge (£5) because of the continuing low interest rates. In addition, HSBC have now implemented a monthly charge of £5. The Trustees have considered whether it is worth moving the account. The Trustees decided that it was not worth moving the account because of potential disruption and also because competitor banks do not offer such a secure system for online banking where two signatories are required.
Reserves policy
The Trustees have established the level of reserves that the Charity should have. The Charity commits to work with each project for 36 months. Trustees ensure there are sufficient projected funds (based on a prudent projection) for the entire project in advance of starting a partnership. Regular donations to the Charity have remained relatively stable over recent years and the financial risk of reduced donations is lower than originally anticipated. The Trustees agreed that the reserves policy should be the total of the last three years’ expenditure divided by 6 (i.e. an average of 6 months’ expenditure). This gives a reserves figure of £6,540 (2023: £7,563). The actual reserves at 31 October 2024 were £69,930 (2023: £54,414).
Shining Life Children’s Trust: Annual Report and Financial Statements for the year ended 31 October 2024 Charity number: 1068123 Company number: 03459486
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Structure, governance and management
Governing document
The Charity is a Charitable Company limited by Guarantee, incorporated on 3 November 1997 and registered as a Charity on 13 February 1998. 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, members are required to contribute an amount not exceeding £10.
Recruitment and appointment of Trustees
The Trustees are also directors and members of the Charity for the purpose of the Companies Act. Under the requirements of the Memorandum of Association, one third of the Trustees are required to retire at each Annual General Meeting and seek re-election. J Brown retires by rotation and, being eligible, offers herself for re-election.
The Trustees aim to maintain a broad mix of skills on the board, so that the project delivery, fundraising and governance needs of the Charity are met. When a vacancy arises, skills of a new Trustee are sought to complement the other Trustees. New Trustees are usually already known to the Charity.
In addition to general responsibilities towards the Charity each Trustee has their own area of responsibility – this ensures that all areas are covered and work is not duplicated.
Trustee induction and training
Potential new Trustees are invited to attend several Trustee meetings to see how the Charity operates. Responsibilities are explained, and information sheets from the Charities Commission and Companies House setting out legal responsibilities are given to the new Trustee. After this the potential recruit decides whether they are willing to accept the responsibilities and if they are they are proposed and voted on as a potential Trustee.
Organisation
The board of Trustees administers the Charity. The board meets approximately eight times per year. A volunteer field director is appointed by the Trustees to manage the day-to-day operations of the Charity in Sri Lanka.
Risk management
Where appropriate, systems and procedures have been established to mitigate the risks the Charity faces. A risk log has been compiled and is reviewed at each Trustee meeting. To reduce financial risks, funds are maintained in sterling bank accounts based in the UK that require two registered signatories to withdraw or transfer funds or effect any changes.
The current security policy includes guidance provided by the FCO. The Trustees continue to monitor this advice and discuss the implications of it at each Trustee meeting. The security policy is also formally reviewed annually.
Statement of Trustees' responsibilities
Company law requires the Trustees to prepare financial statements that give a true and fair view of the state of affairs of the Charity at the end of the financial year. In preparing these statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently
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make judgements and estimates that are reasonable and prudent
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state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements
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prepare the financial statements on the going concern basis unless it is inappropriate to
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presume that the Charity will continue in business.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enables them to ensure that the financial statements comply with the Companies Act 2006. The Trustees 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.
In approving these financial statements as Trustees of the company we hereby confirm:
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
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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
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these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Independent Examiner
John Meadowcroft was appointed as the Independent Examiner during the course of the year.
Approved by the Trustees on 28 July 2025 and signed on their behalf by
J Newall Trustee
Shining Life Children’s Trust: Annual Report and Financial Statements for the year ended 31 October 2024 Charity number: 1068123 Company number: 03459486
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Shining Life Children’s Trust
Independent examiner’s report to the Trustees on the unaudited financial statements of SHINING LIFE CHILDREN'S TRUST for the year ended 31 October 2024 which are set out on pages 11 to 15
Respective responsibilities of the Trustees and Independent Examiner
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act). As gross income for the financial year was greater than £25,000, an independent examination is mandatory.
Having satisfied myself that the Charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
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have not been met or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
John Meadowcroft Kingscote Beeson Kingsbridge TQ7 2HW
28 July 2025
Shining Life Children’s Trust: Annual Report and Financial Statements for the year ended 31 October 2024 Charity number: 1068123 Company number: 03459486 Page
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Shining Life Children’s Trust
Statement of financial activities including Income and Expenditure Account (unrestricted funds) for the year ended 31 October 2024
| Notes Incoming resources Donations 2 Grant from Rotary Club Fundraising events 3 Sale of gifts and Christmas cards 4 Income from investments 5 Total incoming resources Resources expended Grants payable 6 UK governance Fundraising expenditure 7 Interest and bank charges Total resources expended Net movement in funds Total funds brought forward Total funds carried forward |
2024 £ 25,705 − – 488 1,179 27,372 (10,857) (13) (817) (169) (11,856) 15,516 54,414 69,930 |
2023 £ 24,089 1,000 – 863 443 |
|---|---|---|
| 26,395 (19,657) (13) (368) (179) |
||
| (20,217) | ||
| 6,178 48,236 |
||
| 54,414 |
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Shining Life Children’s Trust
Balance sheet as at 31 October 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Stock | – | – | |||
| Debtors | 10 | 1,727 | 1,764 | ||
| Cash at bank and in hand | 70,282 | 53,164 | |||
| 72,009 | 54,928 | ||||
| Creditors: amounts | |||||
| falling due | |||||
| within one year: | 11 | (2,079) | (514) | ||
| Net assets | 69,930 | 54,414 | |||
| Unrestricted Funds | 69,930 | 54,414 |
There are no restricted funds. The purpose of the unrestricted fund is to provide relief to children in Sri Lanka in line with the Charity's objects.
The trustees (who are also the directors of the company for the purposes of company law) confirm that for the year ended 31 October 2024:
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the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies, and
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the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
Directors’ responsibilities:
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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.
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these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The notes on pages 13 to 15 form an integral part of these financial statements.
The financial statements were approved by the Board on 28 July 2025 and signed on its behalf by
J Newall Trustee
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Notes to the financial statements for the year ended 31 October 2024
(unrestricted funds)
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Accounting convention
The financial statements have been prepared on an accruals basis under the historical cost convention, as modified by the inclusion of fixed assets at market value, in accordance with the Companies Act 2006 and follow the recommendations in 'Accounting and Reporting by Charities: Statement of Recommended Practice' issued in April 2005. The Charity has taken advantage of the exemption in FRS1 from the requirement to produce a cash flow statement because it is a small charity.
1.2. Incoming resources
All incoming resources are included in the Statement of Financial Activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
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Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received.
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Gifts donated for resale are included as income when they are sold.
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Donated assets are included at the value to the Charity where this can be quantified and a third party is bearing the cost.
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The value of services provided by volunteers has not been included.
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Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
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Income from investments is included in the year in which it is receivable.
1.3. Resources expended
Resources expended are recognised on an accrual basis in the year in which they are incurred. Expenditure included any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.
Fundraising costs are those incurred in getting regular donors and one-off donations. It also includes the cost of Christmas cards and of running the website.
Direct 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.
UK governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
2. Donations
| Income – one-off donations Income – regular donations |
2024 £ 3,882 21,823 25,705 |
2023 £ 6,530 17,559 |
|---|---|---|
| 24,089 |
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3. Fundraising events
| Fundraising events 4. Sale of gifts and Christmas cards Gifts and Christmas cards 5. Investment income Income – Interest receivable 6. Direct charitable expenditure Grants payable Kirimetiyawatte Angunochchiya 7. Fundraising expenditure Printing, postage and stationery Christmas cards for resale etc. General expenses |
2024 £ – – 2024 £ 488 488 2024 £ 1,179 1,179 2024 £ − 10,857 10,857 2024 £ 75 427 315 817 |
2023 £ – |
||
|---|---|---|---|---|
| – 2023 £ 863 |
||||
| 863 2023 £ 443 |
||||
| 443 2023 £ 7,662 11,995 |
||||
| 19,657 2023 £ – 114 254 |
||||
| 368 |
8. Trustees' emoluments
The Charity had no employees during the year. The Trustees received no emoluments.
9. Taxation
As a charity, Shining Life Children’s Trust is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 236 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
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10. Other debtors and prepayments
| 10. Other debtors and prepayments | |
|---|---|
| Gift Aid receivable direct from HMRC Donations Other income 11. Creditors: amounts falling due within one year Project payment - AGSD Project payment bank charges Fundraising expenditure |
2024 2023 £ £ 1,727 1,655 − 99 |
| 1,727 1,764 2024 2023 £ £ 1,230 − 25 − 824 514 |
|
| 2,079 514 |
12. Share capital
The Company is limited by guarantee and therefore has no share capital. However every member of the company undertakes to contribute to the assets of the Charity in the event of the same being wound up whilst he is a member, or within one year after he ceases to be a member. This contribution is in respect of payment of debts and liabilities of the Charity contracted before he ceases to be a member. The liability should extend to the costs, charges and expenses of winding up, and for the adjustment of rights of the contributories amongst themselves. The amount of contribution that may be required will not exceed £10. The company has three members.
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