## **Love Russia Limited** **Charity No. 1092154** ## **Company No. 04222680** ## **Trustees' Report and Unaudited Accounts** **30 June 2023** **Love Russia Limited Contents** ||Pages|| |---|---|---| |Trustees' Annual Report|2 to 6|| |Independent Examiner's Report||7| |Statement of Financial Activities||8| |Balance Sheet||9| |Notes to the Accounts|10 to|19| |Detailed Statement of Financial Activities|20 to|21| Page 1 **Love Russia Limited Trustees Annual Report** The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 June 2023. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Company No. 04222680** ## **Charity No. 1092154** ## **Registered Office** Manor Farm Church Lane Thrumpton Nottinghamshire NG11 0AU ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: J. Ball L. Bowring W. Lindsell C. Owen-Smith S. Wisbey C. Worland ## **Key Management Personnel** Chair Chief Executive Officer C Owen-Smith A Thwaites ## **Accountants** Ann Stephens & Company Ltd Allensbank Narberth SA67 8RF ## **Bankers** Lloyds Bank Plc 75 Castle Street Farnham Surrey GU9 7LT Page 2 **Love Russia Limited Trustees Annual Report** ## **OBJECTIVES AND ACTIVITIES** Our mission: "Suppose there are brothers and sisters who need clothes and don't have enough to eat. What good is there in saying, "God bless you" If you don't give them the necessities of life?" James 2 v 15 & 16. Love Russia is a charity that is committed to improving the lives of orphaned children, destitute young people and adults in crisis, including those with disabilities and learning difficulties. Our aim is to provide relief of poverty, suffering and distress by demonstrating practical Christian compassion and, where appropriate, sharing the Christian faith. Prayer is a valuable part of our ministry and it has a powerful impact on all we do. We publish a regular and specific prayer diary and send out alerts for any emergency situation. None of our work would be possible without the steadfast prayer of Love Russia supporters. During the 2022-23 financial year, we have continued a regular Zoom prayer group to pray for Russia and its emerging needs during this time of crisis.. We are dependent on voluntary income and through general donations we are able to respond quickly whenever a need arises, as well as continue our work helping to tackle the underlying problems experienced by orphans and destitute young people. Regular donors enable us to make longer term plans and commitments. The trustees confirm that they have complied with the duty in section 17(5) of the 2011 Charities Act in that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. Currently our main services are: Offering support and care to young people who were brought up in the orphanage system Offering support to Christian partners who seek to encourage the vulnerable in their local communities. Offering support and care to Christian crisis centres and support groups that care for individual destitute mothers (often orphans) and recovering addicts and their children. Offering support for those in need of basic equipment such as clothing, beds, showers, toilets, mobility aids etc. Offering emergency one-off funding towards medical needs where individuals are unable to afford essential medical treatment. Love Russia works closely with all projects and strong relationships are built up over time as monitoring trips typically occur every two months (September, November, January, March and May) alternating the destination to allow for greater depth of a visit to one city and to reduce the length of the trip and thus reduce stress for the staff. A British member of staff visits Russia on every trip and meets with the key Russian link workers who monitor activities on a daily basis. Any trustees or supporters who accompany staff make significant contributions to the cost of the trip. This typical pattern of working has been significantly disrupted during the 2022-23 financial year due to the war in Ukraine and no monitoring trips were made. There is more information on our website at www.loverussia.org and on our Facebook page at www.facebook.com/LRCharity. Page 3 **Love Russia Limited Trustees Annual Report** ## **ACHIEVEMENTS AND PERFORMANCE** Support Groups: Support groups are community-based groups, run by 10 Christian mentors, to benefit orphanage graduates, orphan mums and young people from impoverished homes. These groups vary but aim to provide emotional, financial and life skills support. Two of the groups benefit orphan mums who receive a monthly bursary of 3,000 roubles - 4,000 roubles all year round. The trustees are pleased to report, that one of these groups grew by 50% in 2022-23. Clothes for the children that have been donated by supporters in the UK are distributed through these groups, travel permitting. A further fund was also provided for mums wanting to send children on extra-curricular activities to try to increase the variety of events the children from these groups attend, to help reduce any disadvantage they might have compared to peers. During the 2022-23 financial year, a new support group continued to be developed in the town of Volkhov; ‘Open Hearts Youth Group.’ This group was set up in May 2021, with our support and we committed to it financially soon afterwards. The aim of this group is to support children and young people from impoverished backgrounds and/or those with parents who are addicts. It provides life-skills, emotional support, food and fun as well as being a safe space to share with a trusted mentor. One of these projects supported children still living in an orphanage, and another supported young people living in a residential college. These projects both provide fun relief from the environment of their institutions, and provide essential relationships with adults living in the community. These 8 groups support approximately 20 orphan mums, 53 young people and 46 children. Crisis Centres: Part of Love Russia’s aim is to prevent more children being needlessly placed into orphanages when vulnerable mums begin to struggle with various issues including poverty, addictions and domestic violence. As part of our aim to preserve struggling families, we support the running costs of the Women’s Crisis Centre in a large, industrialised city in the north of the country. In 2022-23, we continued to support the Men’s Crisis Centre, a project in need of development and support, on the same site as the Women’s Crisis Centre. This provides emergency refuge to men facing homelessness as well as long-term rehabilitation for men battling addictions. During our previous financial year, around £20,000 was raised for a minibus for the Volkhov site. These funds were held over and were sent out in the 2022-23 financial year. A minibus was subsequently purchased, and is being utilized by the Women’s Crisis Centre, the Men’s Crisis Centre and Open Hearts Youth Group. During the year, over £22,000 was raised for purchasing the land at the Volkhov site, that both the Women’s Crisis Centre and the Men’s Crisis Centre sit on. All these funds were transferred to the projects, and the land purchase has been completed. The two crisis centres benefitted around 20men, 20 women and 30 children at any one time in the 2022-23 financial year. Empowering People with Disabilities: We continued to support a project for young people with disabilities in Moscow. This rare facility provides 16 young people with a vocational education, the chance to socialise and receive the love and care of the mentor who runs the project. Love Russia’s support enables the young people, who live in poverty, the chance to have a hot meal while they are at the centre. Transition Homes: We also support the running of four transition homes. The rents in these homes are significantly subsidised for young people who cannot afford typical rent rates due to surviving on such low incomes. Page 4 ## **Love Russia Limited** ## **Trustees Annual Report** One-Off Projects: We continue to support one-off projects as and when needs arise. These include medical needs, building projects (including furnishings for buildings) and conference. For Medical needs, we have also responded to numerous medical needs for vulnerable people who are unable to afford lifesaving medical care. One of these was for a toddler living at the Women’s Crisis Centre, who was found to have a tumour in his kidney. Love Russia helped with the cost of appointments and treatment as his mum was unable to afford this. For building projects, during the financial year 2022-23, work continues on the completion of a gas line to the Women’s Crisis Centre. The management team at the site have received all the funding needed for its completion. We continue to support the development of the Volkhov site (Women’s Crisis Centre, Men’s Crisis Centre and Open Hearts Youth Group). ## **FINANCIAL REVIEW** 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. The trustees keep this process under regular review. Travel, safeguarding, and office safety policies are all current. The main risks are financial, and in particular could be: The reduced income of unrestricted donations to maintain expenditure and our reserves policy; The uncertainty of foreign exchange rate fluctuations and inflation abroad on the cost of projects; Fraud, through assets being abused or misdirected through poor financial controls or dishonesty in countries where we operate. We regularly monitor and, where necessary, address these risks. Overseas Expenditure: Money transfer processes bear risks, and we have taken appropriate steps to manage these. We have risk assessed the processes used to transfer money and have checked that we are fully legally compliant in all aspects. Monies are transferred within regular bank systems and through cash couriers, money service business, online payments and personally. We have a full record of how much was transferred through each system. We monitor oversees expenditure by requesting quotes for work and Love Russia then monitors the expenditure through collection of receipts, photographic evidence and personal visits when the work can be inspected. Impact of the Invasion of Ukraine: Since 24th February 2022, Russia’s invasion of Ukraine has had a significant impact on the operational activities of the charity. Due to safety risks and FCDO advice not to travel to Russia, no monitoring trips to Russia were made. Despite this, contact with Russian partners has been maintained through regular Zoom and Skype meetings. Whilst overall incomes have been maintained due to exceptionally large legacy donations received this financial year, regular monthly incomes have shown a significant downward trend. Consequently, budgets have been adjusted for 2022-23, but we remain hopeful that the charity will continue to be able to meet its aims. The war in Ukraine, alongside a cost-of-living crisis in the UK, has had a significant impact on the charity’s ability to fundraise. Increased effort is being made to continue to raise awareness of the ordinary Russian, who is struggling even more than previously due to increased costs of living in Russia, loss of business and the impact of living in a repressed society with no freedom. Furthermore, the war in Ukraine has had a significant impact on the 2022-23 accounts. Cash couriers have not been able to be utilised so much during this whole financial year and alternative methods were found. Cash couriers are used as many on the fringes of society do not have bank accounts, so bank transfers are not possible. Cash couriers are also used to mitigate risk to Love Russia’s partners, who despite not breaking the law by partnering with Love Russia, can be penalised by the government for partnering with a western entity, if they so choose. Page 5 Love Russla Llmlted Trustee5 Annual Report Reserves Pollcy. It Is the pollry of the tharltèble companythat Unr￿t￿￿trd funds, whlch have not been deslgnated for 5petlfl¢ use. should be malntalned at a level eoulvalert to 3pproxlmatdy three month5 Df e5S@ntial expenditure. The trustees conslder that reserves at th15 level will ensure that, Ih the event of a signlflcanl drop in fundln8 Dr adverse movements in exchange ratss, they wlll be èble to continue the charIta￿e companvs current activities while consideration 15 8lven to ways In which addltional funds may be ralsed. Durkn8 the year any Blfts In klrjd were Wdlued to reflert an open market value. Thanks need to be noted for the donatlons from many Indlvlduals. churches, schoD15, trustfunds and (rther 8roups lor thelr contlnued support for our woik. It should be nEXed. that at the end of the flnanclal year, there wa5 Over£85,(￿ In the charlws current account. Thls Mea￿that some of the funds held would not be prrtected by the F5CS shoul{4 the bank fall. The charstsble tompany are dolni thelr best io open new bank act¢)unts to reduce rlsk. However, due to the CU￿ent cllmate; both the war In Ukralne and the economlc sltuatjcffl In the UK. many banklng appllcatlons havc been rel¢rted. The trustees will (L￿tInUe to work to protect and preserve the charftvs resources. PLANS FOR FUTURE PERIODS We Iwpe to continue to pro¥lde rellef of poverty, suffering and dlstress by Ilemonstratlng pra£tscal Chrlstlan tompa5$1on and. where appropTlate, 5h8rln8 the Christian faith thro￿ projerts benElltlTrÈ vulnerable r*phanè8e leavers, destitute youn8 people and fammies ir* crts15. We are a150 hopeful that we expand our work In Russia and be8ln commltments to new project& STRLicfuAE. GOVERNA24CE AND MANAGEMENT The charlty Is ¢ontrolled by Its 8overnlnB document, a deed Df trust dated l June 2001 and amended l Ju 2D)4. and tonstitute5 B limited company, Ilmited by 8uaYa))tee, 35 defined by the CompBnie5 Att 2006. The trustees meet quaIte￿V to admlnlster the chality. The management of the chaTIty Is the reSPon￿￿lItyof the trustees who are ele£ted and ccwted under the tenns of the Articles of the charlty- No tnjstee held Interest In the company dur6n8 theyear ended 30 June 2023 Throughout the financial year 2022-23 Love Ru5sla had 4 staff members12 part-tlme, 2 full-timel who dell efficlertly with requests for publlclty. speaklng engagements. donatlon admlnistratlon. produang mat&lals tor the publications, and who are responsible for the website and developin8 ideas ltsr Ivndraising campal8n5. The work is fully supported by a team of volunteers enablln8tTanslatlun, Interpretallon, proof readin8 and organislngthe mall lxrt Mana8ement ensure legal compliance in all aspect5 of the charIt￿S re815tratlon and work PTactlces. The Tyustees are Tesponslble for keeplng proper accounlln8 records that disclose w￿h reasonable atCUTaLy at any tlme the Ilnan£5al posltlon of the charfty and to enable them to ensure th31 the flnanclal statements comply wlth the Companies 2CPJ6. The Trustees are also responsible for 5afe8uardlng the a55ets of ihe charlty and hence tsknn8 reasonable steps for the wevention and detection of fraud and other irreou12rStles. The above report has been p￿pared in ac¢oYdance with the prov151ons appllcable to companie5 sublect to the small companles reBlme as set txjt in Part 15 of the Companle5 Art 2006 and in accordance wlth the Charities SORP IFRS 1021. Slgned on behalf of the board L. BOW￿¢1% Trustee 27J3nuary 2024 Page 6 **Love Russia Limited Independent Examiners Report** ## **Independent Examiner's Report to the trustees of Love Russia Limited** I report to the charity trustees on my examination of the financial statements of Love Russia Limited for the year ended 30 June 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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. Having satisfied myself that the financial statements of the Charity 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 financial statements 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** As the charity'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 because I am a member of Chartered Accountant, which is one of the listed bodies. I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: - accounting records were not kept in accordance with section 386 of the 2006 Act ; or - the financial statements do not accord with those records; or - the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or - the financial statements 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 financial statements to be reached. Jay York Chartered Accountant Ann Stephens & Company Ltd Allensbank Narberth SA67 8RF 27 January 2024 Page 7 **Love Russia Limited Statement of Financial Activities** ## **for the year ended 30 June 2023** |**Notes**
**Income and endowments**
**from:**
Donations and legacies
4
Other trading activities
5
Investments
6
Other
7
**Total**
**Expenditure on:**
Raising funds
8
Charitable activities
9
Other
11
**Total**
Net gains on investments
**Net income/(expenditure)**
12
Transfers between funds
**Net income/(expenditure)**
**before other gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
399,809
157
447
-|**Total funds**
**2023**
**£**
399,809
157
447
-|**Total funds**
**2022**
**£**
275,078
539
163
3,127| |---|---|---|---| ||400,413
53,875
195,063
70,180|400,413
53,875
195,063
70,180|278,907
48,149
202,113
71,595| ||319,118
-|319,118
-|321,857
-| ||81,295
-|81,295
-|(42,950)
-| ||81,295|81,295|(42,950)| ||81,295
159,811|81,295
159,811|(42,950)
202,761| ||241,106|241,106|159,811| Page 8 Lowo Russla Umlted Bala￿e She at 30 Juno 2023 C•mpary No. 04222680 Not¥s 2023 2022 •$sets Tanglble assets 15 1,092 1,092 1.883 CurrEnt •wts Slocks Debtors Cash at bank and In hand 16 17 2,128 9.406 234,802 246,336 16,3221 240,014 4,215 24,￿0 137,679 165.894 17,9661 157,928 Credltors., Amount falllng due wlthln one year 18 Total B$sets less ¢urrent Ilabllltles 241.106 IS9.811 159,811 Nèt assets exdudlng penslon asset or Ilablllty 241,106 Totsl n•t assets 241,106 159,811 The funds ol the charlty Restrfrted fund5 Unrestrlcted funds General funds Deslgnated fund5 19 19 241.106 147,029 12.782 241.106 159,811 Reser¥e5 19 Total funds 241.106 159,811 7he5e accounts bèen prepafed in accordance with the speclal p¥ovlslon5 of Part IS of the Companies Act 2006 relatln8 to small companles. Forthe year ended 30June 2023 thè company vrds entrt￿d to exemptlun under settion 477 of 1h Companles Act 2006 relatlng to small companies. The members have not requlre(l the company to obt31n an audlt Irs aCCOfdan¢e wilh settlon 476 01 Ihp Companies Act 21￿. The dlrectors acknovAedge thelr responsltjllltles for complyin8wlththe requlrements of the tsjmpanies Att 2(106 wlth respettto ac¢ounting records and the preparatlon of accounts. Approved by the board on 27 January 2024 An¢J slgned on It5 behalf by-. L. aowdng Trustee 27J3nuary 2024 Page 9 **Love Russia Limited** **Notes to the Accounts** ## **for the year ended 30 June 2023** - 1 **Accounting policies** ## **Basis of preparation** 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. ## **Income** Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets Page 10 **Love Russia Limited Notes to the Accounts** **Expenditure** |**Expenditure**
**Russia Limited**
**es to the Accounts**|| |---|---| |Recognition of|Expenditure is recognised on an accruals basis. Expenditure includes any VAT which| |expenditure|cannot be fully recovered, and is reported as part of the expenditure to which it| ||relates.| |Expenditure on|These comprise the costs associated with attracting voluntary income, fundraising| |raising funds|trading costs and investment management costs.| |Expenditure on|These comprise the costs incurred by the Charity in the delivery of its activities and| |charitable activities|services in the furtherance of its objects, including the making of grants and| ||governance costs.| |Grants payable|All grant expenditure is accounted for on an actual paid basis plus an accrual for| ||grants that have been approved by the trustees at the end of the year but not yet| ||paid.| |Governance costs|These include those costs associated with meeting the constitutional and statutory| ||requirements of the Charity, including any audit/independent examination fees,| ||costs linked to the strategic management of the Charity, together with a share of| ||other administration costs.| |Other expenditure|These are support costs not allocated to a particular activity.| ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Tangible fixed assets and depreciation** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Equipment 25% on cost ## **Freehold investment property** Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. ## **Stocks** Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. ## **Trade and other debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Page 11 **Love Russia Limited Notes to the Accounts** ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Research and development** Expenditure on research and development is written off in the year in which it is incurred. ## **Foreign currencies** Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. ## **Leased assets** Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. ## **Pension costs** The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. ## **Receipt of donated goods, facilities and services** All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. Page 12 **Love Russia Limited Notes to the Accounts** ## 2 **Company status** The company is a private company limited by guarantee and consequently does not have share capital. ## 3 **Statement of Financial Activities - prior year** |**Income and endowments from:**
Donations and legacies
Other trading activities
Investments
Other
**Total**
**Expenditure on:**
Raising funds
Charitable activities
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2022**
**£**
275,078
539
163
3,127
278,907
48,149
202,113
71,595
321,857
(42,950)
(42,950)
(42,950)
202,761
159,811|**Total funds**
**2022**
**£**
275,078
539
163
3,127| |---|---|---| |||278,907
48,149
202,113
71,595| |||321,857| |||(42,950)| |||(42,950)| |||(42,950)
202,761| |||159,811| Page 13 ## **Love Russia Limited** ## **Notes to the Accounts** ## 4 **Income from donations and legacies** |4
**Income from donations and legacies**|||| |---|---|---|---| |Donations and gifts
Legacies
Gift aid|**Unrestricted**
**£**
211,862
155,845
32,102
399,809|**Total**
**2023**
**£**
211,862
155,845
32,102
399,809|**Total**
**2022**
**£**
234,197
10,662
30,219| ||||275,078| ||||| |**Donated goods, facilities and services received**|||| |Donated goods - support groups
5
**Income from other trading activities**
Sale of gifts
6
**Income from investments**
Bank interest
7
**Other income**
CJRS grant|**Unrestricted**
**£**
157
157
**Unrestricted**
**£**
447
447|**Total**
**2023**
**£**
-
-
**Total**
**2023**
**£**
157
157
**Total**
**2023**
**£**
447
447
**Total**
**2023**
**£**
-
-|**Total**
**2022**
**£**
161| ||||161| ||||**Total**
**2022**
**£**
539| ||||539| ||||**Total**
**2022**
**£**
163| ||||163| ||||**Total**
**2022**
**£**
3,127| ||||3,127| Page 14 ## **Love Russia Limited** ## **Notes to the Accounts** - 8 **Expenditure on raising funds** |_Costs of generating voluntary_
_income_
Donations and gifts
Staff costs
_Fundraising trading costs_
Sale of gifts
9
**Expenditure on charitable activities**
_Expenditure on charitable_
_activities_
Support costs
Staff costs
Grants made
_Governance costs_
Trustee expenses
Accountancy
Staff costs
10 **Analysis of grants**
**Activity or programme**
Caring for people in Russia
**Activity or programme**
Caring for people in Russia|**Grants to**
**Institutions**
**£**|**Unrestricted**
**£**
21,573
32,266
36
53,875
**Unrestricted**
**£**
1,188
26,187
162,544
57
1,980
3,107
195,063
**Grants to**
**Individuals**
**£**
47,852
47,852
**Grant**
**funding of**
**activities**
**£**
162,544
162,544|**Total**
**2023**
**£**
21,573
32,266
36
53,875
**Total**
**2023**
**£**
1,188
26,187
162,544
57
1,980
3,107
195,063
**Total**
**2023**
**£**
162,544
162,544
**Total**
**2023**
**£**
162,544
162,544|**Total**
**2022**
**£**
16,488
31,619
42| |---|---|---|---|---| |||||48,149| |||||**Total**
**2022**
**£**
3,085
25,261
167,333
438
2,992
3,004| |||||202,113| |||||**Total**
**2022**
**£**
167,333| ||114,692|||| ||114,692|||167,333| |||||**Total**
**2022**
**£**| |||||167,333| |||||167,333| Page 15 **Love Russia Limited Notes to the Accounts** ## 11 **Other expenditure** |11|**Other expenditure**|||| |---|---|---|---|---| |||**Unrestricted**|**Total**|**Total**| ||||**2023**|**2022**| |||**£**|**£**|**£**| ||Employee costs|49,572|49,572|48,465| ||Motor and travel costs|1,677|1,677|1,553| ||Premises costs|7,620|7,620|9,789| ||Amortisation, depreciation,|||| ||impairment, profit/loss on|791|791|772| ||disposal of fixed assets|||| ||General administrative costs|10,507|10,507|11,003| ||Legal and professional costs|13|13|13| |||70,180|70,180|71,595| |12|**Net income/(expenditure) before transfers**|||| |||**2023**||**2022**| ||This is stated after charging:|**£**||**£**| ||Depreciation of owned fixed assets|791||772| |13|**Trustee remuneration and expenses**|||| ||One or more of the trustees has been paid expenses in the current or prior periods.|||| |||**2023**||**2022**| |||**Number**||**Number**| ||Number of trustees paid expenses|1||4| ||The nature of the reimbursed expenses|Travel expenses||| |||**£**||**£**| ||Total expenses reimbursed to trustees|57||438| |14|**Staff costs**|||| |||**2023**||**2022**| ||Salaries and wages|104,004||101,071| ||Social security costs|4,745||4,988| ||Pension costs|2,372||2,290| |||111,121||108,349| ||No employee received emoluments in excess|of £60,000.||| ||The average monthly number of full time equivalent employees during the year was as follows:|||| |||**2023**||**2022**| |||**Number**||**Number**| ||Administration and support|4||4| |||4||4| Page 16 **Love Russia Limited Notes to the Accounts** ## 15 **Tangible fixed assets** |**Cost or revaluation**
At 1 July 2022
At 30 June 2023
**Depreciation and**
**impairment**
At 1 July 2022
Depreciation charge for the
year
At 30 June 2023
**Net book values**
At 30 June 2023
At 30 June 2022
16 **Stocks**
Finished goods
**Carrying value analysed by**
**activities**
Caring for people in Russia Support
costs
Sale of gifts
17 **Debtors**
Other debtors
Prepayments and accrued income
18 **Creditors:**
amounts falling due within one year
Bank loans and overdrafts
Trade creditors
Other taxes and social security
Other creditors
Accruals|**2023**
**£**
2,128
2,128
**2023**
**£**
-
1,403
725
2,128
**2023**
**£**
2,266
7,140
9,406
**2023**
**£**
881
376
1,847
458
2,760
6,322|**Equipment**
**£**
15,099
15,099
13,216
791
14,007
1,092
1,883|**Total**
**£**
15,099| |---|---|---|---| ||||15,099| ||||13,216
791| ||||14,007| ||||1,092| ||||1,883| ||||**2022**
**£**
4,215| ||||4,215| ||||**2022**
**£**
2,131
1,323
761| ||||4,215| ||||**2022**
**£**
2,774
21,226| ||||24,000| ||||**2022**
**£**
682
3,079
1,902
436
1,867| ||||7,966| Page 17 **Love Russia Limited** ## **Notes to the Accounts** ## 19 **Movement in funds** |19 **Movement in funds**|||||| |---|---|---|---|---|---| ||**At 1 July**
**2022**
147,029
3,693
-
4,232
-
-
-
4,857
12,782
159,811|**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
347,685
15,390
9,463
-
425
-
22,346
5,104
52,728
400,413|**Resources**
**expended**
**£**
(167,408)
(33,959)
(69,051)
-
(4,047)
(3,502)
(25,521)
(15,630)
(151,710)
(319,118)|**Gross**
**transfers**
**£**
(86,200)
14,876
59,588
(4,232)
3,622
3,502
3,175
5,669
86,200
-|**At 30 June**
**2023**
**£**
241,106
-
-
-
-
-
-
-| |**Restricted funds:**
**Unrestricted funds:**
**General funds**
**Designated funds:**
Support groups
Crisis centres
Education support|||||| |Empowering people with
disabilities|||||| |Transition Homes
Volkhov building project
Medical fund
_Total_
**Total funds**|||||| ||||||-| ||||||| ||||||241,106| Purposes and restrictions in relation to the funds: Designated funds: Support groups Support groups are community-based groups to benefit orphanage graduates, orphan mums and young people from impoverished homes. These groups vary but aim to provide emotional, financial and life skills support. Crisis centres We support the running costs of the Women’s Crisis Centre and a Men's Crisis Centre in a large, industrialised city in the north of the country Education support Delivers financial and emotional support and life skills to orphans and students to support them to access education. Empowering people with Supports a project for young people with disabilities. Empowering people with Supports a project for young people with disabilities. disabilities Transition Homes To support the running of transition homes at a subsidised rent for young people Volkhov building project Development of the site where the crisis centres are based Medical fund Provides funding for essential medicines and treatments Page 18 ## **Love Russia Limited** ## **Notes to the Accounts** ## 20 **Analysis of net assets between funds** |Fixed assets
Net current assets
21 **Reconciliation of net debt**
Cash and cash equivalents
Net debt|**At 1 July**
**2022**
**£**|**Unrestricted**
**funds**
**£**
1,092
240,014
241,106
**Cash flows**
**£**|**Total**
**£**
1,092
240,014| |---|---|---|---| ||||241,106| ||||**At 30 June**
**2023**
**£**| ||137,679|97,123|234,802| ||137,679
137,679|97,123
97,123|234,802| ||||234,802| ||||| |22 **Commitments**
**_Operating lease commitments_**
Annual commitments under non-cancellable operating leases
**2023**
**Land and**
**buildings**
**£**
Operating leases with expiry date:
In the second to fifth years inclusive
6,000
6,000
**_Pension commitments_**
The pension cost charge to the company
amounted to:
23 **Related party disclosures**
**_Controlling party_**|are as follows:
**2023**
**Other**
**£**
-
-
**2023**
**£**
1,055|**2022**
**Land and**
**buildings**
**£**
6,000
6,000|**2022**
**Other**
**£**
-| ||||-| ||||**2022**
**£**
1,031| ||||| The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 19 **Detailed Statement of Financial Activities** ## **Love Russia Limited** ## **for the year ended 30 June 2023** |**Income and endowments from:**
Donations and legacies
Donations and gifts
Legacies
Gift aid
Other trading activities
Sale of gifts
Investments
Bank interest
Other
CJRS grant
**Total income and endowments**
**Expenditure on:**
Costs of generating donations and
legacies
Donations and gifts
Staff costs
Costs of other trading activities
Sale of gifts
**Total of expenditure on raising funds**
Charitable activities
Support costs
Staff costs
Grants made
Governance costs
Trustee expenses
Accountancy
Staff costs|**Unrestricted**
**funds**
**2023**
**£**
211,862
155,845
32,102
399,809
157
157
447
447
-
-
400,413
21,573
32,266
53,839
36
36
53,875
1,188
26,187
162,544
189,919
57
1,980
3,107
5,144|**Total funds**
**2023**
**£**
211,862
155,845
32,102
399,809
157
157
447
447
-
-
400,413
21,573
32,266
53,839
36
36
53,875
1,188
26,187
162,544
189,919
57
1,980
3,107
5,144|**Total funds**
**2022**
**£**
234,197
10,662
30,219| |---|---|---|---| ||||275,078| ||||539| ||||539| ||||163| ||||163| ||||3,127| ||||3,127| ||||278,907
16,488
31,619| ||||48,107| ||||42| ||||42| ||||48,149
3,085
25,261
167,333| ||||195,679| ||||438
2,992
3,004| ||||6,434| Page 20 ## **Love Russia Limited** ## **Detailed Statement of Financial Activities** |**Total of expenditure on charitable**
**activities**
Employee costs
Salaries/wages
Employer's NIC
Pension costs
Staff training
Motor and travel costs
Travel and subsistence
Premises costs
Light, heat and power
Premises insurances
General administrative costs, including
depreciation:
Depreciation of Equipment
Depreciation of
Bank charges
General insurances
Software, IT support and related
costs
Stationery and printing
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Other legal and professional costs
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income/(expenditure)**
**Net income/(expenditure) before other**
**gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|195,063
46,398
2,108
1,055
11
49,572
1,677
1,677
6,247
1,373
7,620
-
791
2,767
212
3,381
463
186
3,498
11,298
13
13
70,180
319,118
-
81,295
81,295
-
81,295
159,811
241,106|195,063
46,398
2,108
1,055
11
49,572
1,677
1,677
6,247
1,373
7,620
-
791
2,767
212
3,381
463
186
3,498
11,298
13
13
70,180
319,118
-
81,295
81,295
-
81,295
159,811
241,106|202,113
45,208
2,226
1,031
-| |---|---|---|---| ||||48,465| ||||1,553| ||||1,553| ||||8,688
1,101| ||||9,789| ||||-
772
3,783
181
3,803
1,196
88
1,952| ||||11,775| ||||13| ||||13| ||||| ||||71,595| ||||321,857
-| ||||(42,950)| ||||(42,950)
-| ||||(42,950)| ||||202,761| ||||159,811| Page 21