Love Russla Limited
Charfty No. 1092154
Company No. 04222680
Trustee$, Report and Unaudlt•d Accounts
30 June 2024

Love Russia Limited
Contents
Pages
Trustees, Annual Repon
Independent Examiner's Report
Statement of Financial Activities
2tc8
10
Summary Income and Expenditure Account
Balance Sheet
li
12
Notes to the Accounts
13to22
Detalled Statement of Fina nclal Activities
23to24
Page I

Love Russla Llmlted
Trustees Annual Report
The trustee5, who are a150 directors of the charity forthe purposes of the Companie5 Act 2006,
present their report with the unaudited financial statements of the charity for the year ended 30
June 2024,
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 04222680
Charlty No. 1092154
Registered Office
Manor Farm
Church Lane
Thrumpton
Nottinghamshire
NGII OAU
Dirertors and Trustees
The Dlrectors of the charltable company are its Trustees for the purposes of charlty law.
The following Directors and Trustees served durin8 the year:
J. Ball
L. Bowring
D. Bradley
W. Lindsell
C. Owen-smith
S. Wisbey
C, Worland
(Reslgned 23 March 20241
Company Secretary
S. Wlsbey
Kèy Management Personnel
Chalr
Chief Executive Officer
Accountants
C Owen-smith
A Thwaltes
Ann Stephens & Company Ltd
Allensbank
Narberth
SA67 8RF
Bankers
Lloyds Bank PIC
75 Castle street
Farnham
Surrey
GU9 7LT
Page 2

Love Russia Llmited
Trustees Annual Report
OBJEcfivES AND ACTIVITIES
Our mlssion: 'Supp05e there are brothers and sisters who need clothes and don't have enough to eat. What
good is there In sayin& 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 adLblts in crisls, including those wlth disabil Itles and learning difflculties. Our aim is to provide
relief of poverty, suffering and distress by demonstrating practical Christian compassion and, where
approprSate, sha rin8 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 2023-24 financial year, we have continued
a regular Zoom prayer group to pray for needy people in Russia, and the nation's emerging needs durin8 this
time of conflict and crisls.
We are dependent on voluntary income and through general donatlons we are able to respond quld(ly
whenever a need arises, as well as continue our work helping to tad(le the underlylng problems experlenced
by orphans and destitute young people. Regular donors enable us to make longer term plans and
commitments.
The trustees conflrrn that they have complled with the duty in sertion 17(5) of the 2011 Charltles Act in thèt
they have referred to the guldance contained in the Charlty Commission's 8eneral 8uidance on publlc benefit
when reviewlng the charity's aims and objectlves and in planning future activltles.
Currently our prlmary services include:
Partnering wlth Ru551an Chrlstlans to brln8 practlcal helpi love, and hope to th95e In desperate need in thelr
communities in western Russia.
supporting and carin8 for those ralsed In the orphanage systern, with a partlcular focus on carlng for
orphanage leavers who have become mothers and are livlng In poverty.
Provldlng support to two Christian-led crlsls centres.. one for men, and one for women and chlldren. These
centres as515t destitute mothers (often orphans), recovering addicts, virtims of domestic v5olence, and their
h Ildren.
Offering support to chlldren and young people from disadvantaged backgrounds through a youth 8foupi
events, and a workshop for those with disabilities.
Supplying essential equlpment such as clothing, beds, showers, toilets, and mobility aids to those In need.
Offering emer£ency fundlng for essentlal medical treatments when indlvlduals cannot afford them.
Love Russia works dosely wlth all projects and strong relatlonships are bullt up over tlme as regular
monitoring trip5 were conducted regularly until March 2020. Since then, we have kept exSstlng relationships
Strong through regular Zoom meetings wtth partners to receive projett updates and to ensure project
objectives are stlll being met.
There Is more infonnation on our webslte at www.loverussia.org and on our Facebook page at
www.facebook.com/LRCharity.
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Love Russla Llmited
Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
Support Groups
There are currently 7 community-based support groups, run by trusted Russian Chrlstians. These benefit
orphanage graduates, orphan mum5 and young people from impoverlshed home5. These groups vary but alm
to provide emotional, financial and life ski Ils sUPPOrt.
Two of the groups support orphan mothers, who receive a monthly bursary of 3,000 to 4,000 roubles
throughout the year. Clothlng forthe children, donated by sUPPOrter5 in the UK, is distributed through these
group5 when travel permits. Additlonally, funding has been provided for mothers wishing to enrol thelr
chlldren in extra-curricular activities. Th Is alms to increase the variety of events the children from these
groups can attend, helping to minimise any disadvantages they may face compared to their peers.
Another of these 8roups, known as 'Open Hearts Youth Group, continued to be supported during the
2023-24 financlal year. The aim of this group is t0 5UPPOrt children and young people from Impoverished
backgrounds and/or those with parents who are addicts. It provides Ilfe-ski115, emotlonal 5UPPOrt, food and
fun as well as beln8 a safe space to share with a trusted adult.
One of these projects 5UPPOrted children stlll Ilvlng in an orphanage, and another supported young people
Ilvlng in a residential college. These projects both provlde fun relief from the envlronment of thelr
Institutlons and provide essential relatlonshlps with adults Ilvlng in the community.
These seven groups supported approxlmately 26 women, three men, and 87 chlldren and young people.
Crisis Centres
Part of Love Russia's aim Is to prevent more children bein8 needlessly placed Into orphanages when
vulnerable mums begln to struggle wlth varlou5 issues Includlng poverty, addictions and domestic vlolence.
As part of our aim to preserve strugglin8 farnilies, we support the running cost5 of the Women's Crlsls Centre
in a large, Ind ustrlalised clty In the north of the country.
In 2023-24, we contlnued supportlng the Men's Crisis Centre, a project in need of development and support,
on the same site as the Women's Crisis Centre. Thls provides emer8ency refuge to men faclng homelessness
as well as long-term rehabilltation for men battlln8 addictions.
The two crlsis centres benefltted around 20men, 20 women and 30 chlldren at any one time in the
2023-24flnanclal year.
Empowering People wlth Dlsabllities
We continued to support a project for young people wlth disabilities In Moscow, This rare facllity provldes 11
young people with a vocational educatlon, the chance to sociallse and recelve the love and care of the
partner 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.
Transitlon Homes
We also supported the runnin8 of one transitlon home. The rents in thls home are Significantly subsldised for
young people who cannot afford typical rent rates due to surviving on such low incomes.
Legacy Lod8e
During 2023-24, Love Russia beEan developing Legacy Lodge, an offshoot of the Crlsis Centres and Open
Hearts Youth Group. This is a new designated fund, This 24/7 refuge will sUPPOrt local young people facing
abuse, parental addlction, or povertyi providinE care, guidance, and practical resources. Love Russla
committed to fundin8 the construction of the centre in July 2023, with an initial fundraiser ralsing almost
£35,000. Fundraising continues, and further sisniflcant fijnds have been allocated to the build. The centre is
set to open in late sprlng 2025.
Page 4

Love Russia Limlted
Trustees Annual Report
One-off Projects
We continue to 5UPPOrt one-off projects as and when needs arise. These include medical needs and bullding
projects (including furnishings for buildings).
Medical Fund
Throughout the financial year we have responded to numerous medlcal needs for vulnerable people who are
unable to afford lifesaving medical care. Nearly £14,000 was raised through Love Russia's 2023 Christmas
Appeal for thls initiative. This included funding through the Women's Crlsls Centre for ￿Year-old Vera who
hod been injured In an accident, as well as baby Darina's cancer treatment. Slx-year-old Evgeniy received
treatment after being hit by a car. Additionally, blood tests and dental care were funded for vulnerable
orphan mums.
FINANCIAL REVIEW
Rlsk Management
The trustees have a dutyto identify and review the rlsks to whlch the charity is exposed and to ensure
approprlate controls are in place to provlde reasonable assurance against fraud and error, The trustees keep
this process under re8ular revlew. Travel, safe8uarding, and office safety pollcles are all current.
The prirnary rlsks arlse from the geopolltical cllmate, leading to the following challenEes'.
A reduction in donations, impactlng the charltvs ability to maintain expendlture and uphold its reserves
policy.
Uncertalnty caused by forelgn exchange rate fluctuations and inflatlon in Russia, affectlng the cost of
projects.
The potential for fraud, Including the mlsuse or misdlrectlon of asset5 due to inadequate financial controls or
dishonesty In RussSa.
The potential relurtance of UK organlsatlons to support the charlty's operations due to concerns about
worklng in Russia and the assoclated rlsk5, which may fall outside their risk appetite.
These risks are regularly monitored, and approprlate measures are taken to address them when necessary.
Overseas Expenditure
Money transfer prtxe5ses bear risks, and we have taken approprlate steps to mana8e these, We have rlsk
assessed the processes used to transfer money and have checked that we are fully legally compliant in all
aspects. Monles are transferred wlthin regular bank Systems and through cash couriers, money service
buslne55, online payments. We have a full record of how much was transferred through each system.
We monltor oversea5 expenditure by requestln8 qllotes for work and Love Russia then monitors the
expenditure through collection of receipts, photQ8raphic evidence and personal visits when the work can be
Inspected.
Page 5

Love Russla Limited
Trustees Annual Report
Impact of the Invasion of Ukraine
Since 24th February 2022, Russia's invasion of Ukraine has had a significant impact on the operational
activitie5 of the charlty. Due to safety ri5k5 and FCDO advlce not to travel to Russia, no monitoring trips to
Russia were made in 2023124. Despite thls, contact with Rus513n partners ha5 been malntained through
regular Zoom and Skype meetings. Love Russia's income decreased compared to 2022-23, primarlly due to
the recelpt of exceptlonally large legacy donations i n the previou5 financial year. Additlona Ily, total Income
from regular monthly donation5 has shown a downward trend. Consequently, budgets have been adjusted
for 2Q24-25, but we remain hopeful that the charity will continue to be able to meet its aims,
The war in Ukralne, combined with the cost-of4ivlng crisis in the U K, has significantly impacted the charitvs
fundraising efforts, To navigate these challenges, increased efforts are being made to raise awareness of the
hardships faced by ordinary Russians, who are struggling more than ever due to rlslng living costs, loss of
buslness, and the pressures they face given the current wider situation. At the same tirne, the charity is
sensitive to the on80ing sltuation in Ukraine, ensuring that all publicity and fu ndraising efforts are handled
wlth care and respect for those affected by the confllct.
Furthemiore, the war in Ukraine has had a slgnlflcant Impact on the 2023-24 accounts. Cash couriers have
not been able to be utlllsed as much durlng this whole financlal year and alternative methods were found.
Reserves Pol icy
It Is the pollcy of the charitable company that unrestricted funds, which have not been designated for specific
use, should be malntalned at a level equivalent to approximately three rnonths of essentlal expenditure,
includlng Caring for People In Russia charitable actlvities. The trustees consider that reserves at thls level will
ensure that, In the event of a slgnificant drop in fundin8 or adverse movements In exchange rates, they will
be able to continue the charitable ¢ompany'5 current actlvltles whlle consideratlon Is given t¢ ways In which
additional funds may be ralsed,
The maln purpose of our reserves Is to meet our statutory and contractual Ilabilities and the trustees
contlnue to review the appropriate level of reserves requlred annua Ily. In practice thls means ring-fenclng at
least 3 months, of UK runnlng costs, and almlng to have 3 month5, Worth of project cost5 avallable.
At the end of the financial year, there was over £85,000 In the chority'5 reserves and savlngs account,
meanlng that sorne of the funds held would not be proteded by the FSCS should the bank fail. The trustees
deemed the rlsk to be low but are attemptin8 to open new bank account5 to reduce risk. This is proving
challen8in8 In the current climate, both with Russla's unfavourable reputation due to the war In Ukraine and
the economic situatlon in the UK leadlng to "lower risk appetlte" for small charlty accounts at many bank5,
such that many bank account appllcation5 have been rejected. The trustees alm to contlnue to work to
protect and preserve the charitvs resources.
PLANS FOR FUTURE PERIODS
We hope to continue to provide relief of poverty, sufferln8 and distress by demonstratin8 pratti¢al Christian
compassion and, where appropriate, sharing the Christian falth through projects benefiting vulnerable
orphanage leavers, destltute young people and families in crisis. We are also hopeful that we can expand our
work in Russia and begin commitments to new projects.
Page 6

Love Russia Limited
Trustees Annual Report
STRucfuRE, GOVERNANCE AND MANAGEMENT
Governlng Document
The charity is controlled by its governing document, a deed of trust dated l June 2001 and amended l July
2004, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006,
Recruitment and Appointment of Trustees
The trustees meet quarterly to administer the charity. The management of the charity is the responsibility of
the trustees who a￿ elected and co-opted under the terms of the Articles of the charlty. No trustee held any
interest in the company during the year ended 30 June 2024.
Organisational Structure
Throughout the financial year 2023-24 Love Russia had 4 staff member5 {2 part-time, 2 full-timel who deal
efficiently with requests for publicity, speaking engagements, donation administration, producing materials
for the publications, and who are responsible for the website and developing ideas for ￿ndraISing
campaigns. The work is fully supported by a team of volunteers enabling translation, interpretatlon,
proofreading and newsletter mail outs.
Management ensure legal compliance in all aspects of the charitvs registratton and work practlce5,
The trustees would like to express their gratitude to all our supporters ond donors, and their deep
appreciatlon to all our staff, volunteers, supporters and partner organisations for their commitment and
contrlbutlon to the vision and values of Love Russia. We continue to trust the Lord as we move forward in
faith.
Statefflent of Trustees Responsibilities
The charity trustees, who are also the directors for the purpose cf Company Law, are responsible for
preparing the trustees, report and the financial statements in accordance with applicable law and
regulations.
Company law require5 the charity tru5tee5 to prepare financial statements for each flnanclal year. Under that
law the charity trustee5 have elected to prepare the financlal statements in accordance wlth United Kingdom
Generally A¢￿pted Accounting Practice {Untted Klngdom Accounting Standards and applicable law). Under
company law the charity 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, includlng the income and expenditure, of the charitable company for that year,
In preparing the financial ststements the trustees are requlred to:
select suitable accounting policies and then apply them consistently,.
observe the methods and princlples in the Charities SORP;
make judgements and estSmates that are reasonable and prudent,.
prepare the financial statements on the going concern basls unless It is inappropTiate to presume that the
charita ble company will contlnue in operation.
The trustees are responsible for the maintenance and integrity of the Corporate and financial informatlon
included on the charitable companV5 website. Legislation In the United Kingdom governing the preparation
and dissemination of f inancial staternents may differ from legislation in other Jurisdictions.
The Trustees are responsible for keepinE proper accounting records that dlsclose with reasonable accuracy at
any tlme the financial position of the charlty and to enable them to ensure that the financial statements
comply with the Companies Act 2006. The Trustees are asso responsible for safeguarding the assets of the
charity and hence taklng reasonable steps for the prevention and detection of fraud and other irregularities.
P8ge 7

Love Russla Llmlted
Trustees Annual Report
The above report has been prepared in accordance with the provision5 applicable to companie5 subjert to
the srnall companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the
Charities SORP (FRS 102).
Signed on behalf ol the board
S. Wisbey
18 M•rch 2Q25
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Love Russia Llmlted
Independent Examlners Report
Independent Examiner's Report to the trustees of Love Russia Limbted
I report to the charltytrustees on my examlnation of the flnancial statements of Love Russia Limited for the
year ended 30 June 2024.
Responsibllitk$ and basis of report
A5 the charity's trustees of the company land 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 20061'the 2006 Act.
Having satisfied myself that the flnancial statements of the Charity are not required to be audlted under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my examlnatlon of
your charity's f inanclal statements as carried out under sectlon 145 of the Charities Act 20111'the 2011 Act,),
In carrylng out my examination I have followed the Dlrerti¢ns given by the Charity Commission under section
145151 (bl of the 2011 Act.
Independent examlnerfs statsment
As the charity's gross Income exceeded £250,000 your examiner must be a member of a body Ilsted in
sectlon 145 of the 2011 Act. I confirm that l am quallfled to undertake the examlnatlon because l am a
member of ACA, whlch Is one of the listed bodies.
I have completed my examlnatlon. I can confirm that no materlal matters have come to my attention in
connectSon w4th the examination glving rne cause to belleve,.
accountin8 records were not kept in accordance wlth section 386 of the 2006 Act,, or
the flnantlal statements do not accord wlth those records,. or
the financial statements do not comply with the accounting requirements under section 396 of ihe 2006
Act otherthan any requirement that the financial statements 8lve a 'true and fair, view which 1$ not a
matter considered as part of an Independent examlnation,, or
the flnancial statements have not been prepared In accordance with the methods and principles of the
Statement of Recommended Practice for accountlng and reporting by charities applicable to charitie5
preparing thelr account5 in accordance wlth the Fi nantial Reportlng Standard applicable In the UK and
Republic of Ireland IFRS 1021.
I have no concern5 and have come across no other matters in connertlon wlth the examination to whlch
attention should be drawn In this report in orderto enable a proper understandlng of the financial
statements to be reached.
Jay York ACA
Ann Stephens & Company Ltd
Allensbank
Narberth
SA67 8RF
18 March 2025
Page g

Love Russia Limited
Statement of Flnanclal Actlvltles
for the year ended 30 June 2024
Unrestrlrted
funds Total funds Total funds
2024
2024
2023
Notes
Income and endowments
from:
Donations and legacies
Other trading a¢(ivities
Investments
346,918
284
346,918
284
399,809
157
2,989
2,989
447
Totsl
350,191
350,191
400,413
Expendlture on:
Ralsing funds
Charltable actlvltles
Other
55,150
202,487
75,112
55,150
202,487
75,112
S3,875
195,063
70,180
io
Total
332,749
332,749
319,118
Net Eain5 on Investments
Net Income
11
17,442
17,442
81,295
Transfers between funds
Net income before other
gains/(losses)
17,442
17,442
81,295
Other 8alns and105se$
Net movement in funds
17,442
17,442
81,295
Reconciliatlon of funds:
Tctal funds brought forward
241,106
241,106
159,811
Total funds carried forward
258,548
2S8,548
241,106
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Love Russla Llmlted
Summary Income and Expenditure Account
for the year ended 30 June 2024
2024
2023
Income
347,202
399,966
Interest ind investment income
2,989
447
Gross income for the year
Expenditure
350,191
400,413
332,305
318,327
Depreciation and charges for
impairment of fixed assets
444
791
Totsl expenditure for the year
Net income before tax for the year
332,749
319,118
17,442
81,295
Net In¢ome for the year
17,442
81,295
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Love Russla Umlted
Balance Sheet
at 30June 2024
Company No. 04222680
Notes
2024
2023
Flxed assets
Taiiglble assets
14
648
648
1,092
1,092
Current assets
Stocks
Debtors
Cash at bank and in haiid
15
16
2,197
10,584
251,450
264,231
{6,331)
257,900
258,548
258,548
2,128
9,406
234,802
246,336
16,322)
240,014
241,106
241,106
Credltors: Amount falling due within one year
Net current assets
17
Totsl assets les5 current Ilabllltles
Not 8ssets exdudln8 penslon a$s¢t or Ilablllty
Totsl net •ssets
258,548
241,106
The fvnds olthe tharlty
Restrlcted funds
Unfestrttted funds
General funds
18
18
258,548
241.106
258,548
241,106
Reserves
18
Totsi funds
258,548
241,106
These accounts have been prepared In accordance wlth the speclal provislons of Part 15 of the Companies
Art 2006 relating to Sn￿11 companies.
For the year ended 30 June 2024 the company was entitled to exemption under sectlon 477 of the
Companies Act 2006 relating to small companles.
The members have not required the company to obtain an audlt In accordance with sectlon 476 of the
Cornpanie$ Art 2006.
The directors acknowledge their responsiblllties for ¢omplyin8 wlth the requiremonts of the Companles Act
20(￿ with respect to accountln8 records and the preparatlon of accounts.
Approved by the board on 18 March 2025
And signed on its behalf by:
S. Wisbey
Trustee
18 March 2025
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Love Russia Limited
Notes to the Accounts
for the year ended 30 June 2024
l Accountlng policies
Basis of preparation
The financial statements have been prepared in accordan￿ with Accounting and Reporting by Charities.,
Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with
the Financlal Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective I
January 20151- (Charitles SORP (FRS 10211, the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 102) and the Companies Act 2006,
Change in basis of aecounting or to prevlous 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 accountln8
Unrestricted funds These are available for use at the dlscretion of the trustees in furtherance of the
general objects of the charity.
These are unrestricted funds earmarked by the trustees for p8rticular purpose5.
These are unrestrlcted funds which include a revaluatlon reserve representing the
restatement of investrnent assets at their market values.
These are available for use subject to re5triction5 imposed bythe donor or through
terms of an appeal.
Deslgnated funds
Revaluation funds
Restricted f unds
Income
Recognition of
income
Income Is included In the Statement of Fina ncial Activities {SoFA) when the cha rity
become5 entitled to, and virtually certain to receive, the incotne and the amount of
the income can be measured with sufflclent re￿labIlity.
Income with related Where income has related expenditure the income and related expenditure is
expenditure
reported gross in the SOFA.
Donations and
legacles
Voluntary income received by way of grants, donations and gifts is included in the
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 tlme as the
donations and gift5 8ift/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 Charlty is reasonably quantifiable, measurable and
material.
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment Income Thls is included in the accounts when reoivable.
Gains/llosses} on
This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed at the end of the year,
assets
Galns/{lossesl on
Investment assets
This includes any galn or loss on the sale of investments.
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Love Russla Llmlted
Note5 to the Accounts
Expendlture
Recognition of
expendFture
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which
cannot be fully recovered, and is reported as part of the expenditure to which it
relates.
Expendlture On
These comprise the costs associated with attracting voluntary Income, fundraisin8
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
g¢vernance costs.
Al I grant expenditure is accounted for on an actual paid basis plus an accrual for
Erants that have been approved by the trustees at the end of the year but not yet
paid.
These include those costs associated with meetlng the constitutional and statutory
requirements of the Charity, including any audit/independent examlnation fees,
costs linked to the strategic management of the Charity, together with a share of
other adm inistration costs.
These are support costs not allocated to a particular activity.
Grants payable
Governance Costs
Other expenditure
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed asset5 and depreciatlon
Depreciation Is provlded at the following annual rates in order to wrhe off each a55et over it5 estimated
Useful life:
Equlpment
25% on cost
Freehold Investment property
Investment properties are measured initially at Cost and subsequently at fairvalue 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 Pgy for the items on the open marl(et.
Trade and other debtors
Trade and other debtors are recoEnised at the settlement amount due after any trade discount offered,
Prepayments are valued at the arnount prepaid net of any trade discounts due.
Cash and cash equlvalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other
short-term highly liquid investment5 Wlth original maturities of three months or less and bank overdrafts.
In the statement of financlal position, ban k 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.
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Love Russla Llmlted
Note5 to the ￿CoUnts
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 Obligat￿On resulting from a past event that will probably resu5t 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 reco8nised 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 rt is incurred.
Foreign currencie5
Monetary assets a nd liabi lities 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 perlod.
Transartions in currencies other than the functlonal currency of the charity are recorded at the rate of
exchange on the date that the transaction occurred,
All exchange dlfferences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entalls 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 cla55ified
as operating leases.
Assets held under finance leases are initially recogni5ed as assets of the charity at their falr value at the
inception of the lease or, if lower, at the present value of the minirnurn lease payments. The
corresponding Ilability 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 dirertly attributable to qualifying assets, In which case they are
capltali5ed in accordantr with the charity's policy on borrowln6 c05t5.
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 overthe lease term.
In the event that lease incentive5 are received to enter into operating leases, such Incentives are
recogn15ed as a liabi lity. The aggregate benefit of incentives is recognised as a reduction of rental
expense on a straight-line basis.
Penslon costs
The charity operates a defined contribution plan for its em ployees, A defined contribution plan is a
pension plan under which the company pays flxed contributions into a separate entity. On¢e the
contributions have been paid the company has no further payments obllgations. The contributions are
recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
The a55et5 of the plan are held separately from the company in independently administered funds,
Recelpt of donated 8oods, facllltles and servlces
All donated goods, facilities and servi￿5 received are recognised within incoming resources and
expenditure at an estimate of the value to the charity.
Page 15

Love Russia Limited
Notes to the Accounts
2 Company statu5
The company is a prlvate company limited by guarantee and consequently does not have share capital.
3 Statement of Flnandal Activlties - prior year
Unrestrlcted
funds Total funds
2023
2023
Income and endowments from:
Donations and legacies
Other tradlng activitles
Investments
399,809
157
399,809
157
447
447
Totsl
400,413
400,413
Expendlture on:
Raising funds
Cha rltable activitie5
Other
53,875
195,063
70,180
53,875
195,063
70,180
Total
319,118
319,118
Net Income
81,295
81,295
N•t income before other
8alnsl(1055es)
other gains and losses:
Net movement In funds
81,295
81,295
81,295
81,295
Reconclllation of funds:
Total funds brought forward
Total funds carried foNard
159,811
159,811
241, 106
241,106
4 In¢orne from donatlons and legacles
Unrestrlrted
Total
Total
2023
2024
Donations and glfts
Legacies
Glftaid
211,662
103,108
32,148
346,918
211,662
103,108
32,148
346,918
211,862
155,845
32,102
399,809
Page 16

Love Russia Limited
Notes to the Accounts
5 Incorne from other trading activities
Unrestricted
Total
Total
2023
2024
Sale of gifts
284
284
157
284
284
157
6 Income from investments
Unrestrlcted
Total
2024
Total
2023
Bank Interest
2,989
2,989
2,989
2,989
447
447
7 Expenditure on raisin8 funds
Unrestricted
Total
2024
Total
2023
Costs of generoting voluntory
income
Donations and gifts
Staff costs
22,141
33,001
22,141
33,001
21.573
32,266
Fundroising troding costs
Sale of gifts
36
55,150
55,150
53,875
8 Exponditure on charitable actlvltles
Unrestrirted
Total
Total
2023
2024
Expendlture on charit¢7ble
Grctivities
Suppt)rt costs
Staff costs
1,907
27,736
167,501
1,907
27,736
167,501
1,188
26,187
161544
Grants made
Governance costs
Trustee expenses
Accountancy
Staff costs
56
56
57
2,004
3, 283
202,487
2,004
3,283
202,487
1,980
3,107
195,053
Page 17

Love Russia Limited
Notes to the Accounts
9 Analy51s of grants
Grants to
Grants to
Indlvlduals
Actlvlty or pro8ramme
Instltutlons
Totsl
Total
2024
2023
Caring for vulnerable people
in Russla
139,768
27,733
167,501
162,544
139,768
27,733
167,501
162,544
Grant
fundlng of
actlvltles
Actlvlty or programme
Total
Total
2023
2024
Ca ring for vulnerable people
in Russia
167,501
167,501
162,544
167,501
167,501
162,544
10 Other expendlture
Unrestricted
Total
Total
2023
2024
Employee costs
Motor and travel Costs
Premises costs
Amortlsation, depreclation,
Impalrment, profit/loss on
dlsposal of fixed assets
General administrative costs
51,507
2,199
10,264
51,507
2,199
10,264
49,572
1,677
7,620
444
444
791
10,698
10,698
10,507
13
Legal and professlonal costs
75,112
75,112
70, 180
11 N•t Income before transfers
2024
2023
Thls is stated after charging.,
Depreclatlon of owned fixed assets
444
791
Page 18

Love Russia Limited
Notes to the Accounts
12 Trustee rernuneratlon and expenses
One or more of the trustees has been paid expenses the current or prior periods.
2024
Number
2023
Number
Number of trustee5 paid expenses
The nature of the reimbursed expenses
Travel expenses
Total expenses reimbursed to trustees
56
57
13 Staff costs
2024
2023
Salaries and wages
Social security Costs
Pension cost5
107,643
5,058
2,512
115,213
104,004
4,745
2,372
111,121
No employee recelved emoluments in excess of £60,000.
The average monthly number of full tirne equivalent employees during the year was a5 follow5..
2024
2023
Number
Number
Administration and support
14 Tangible fixed assets
Equipment
Total
Cost or revaluation
At l July 2023
At 30 June 2024
Depreciatlon and
Impalrment
At ljuly 2023
Depreciatlon charge for the
year
At 30 June 2024
15,099
15,099
15,099
15,099
14,007
14,007
444
444
14,451
14,451
Net book values
At 30June 2024
At 30June 2023
648
1,092
1,092
Page 19

Love Russia Limlted
Notes to the Accounts
15 Stocks
2024
2023
Flnished goods
2, 197
2,197
2,128
2,128
Carrylng value analysed by activltles
2024
2023
Support costs
Sale of gifts
1,480
717
1,403
725
2,197
2,128
16 Debtors
2024
2023
Other debtors
Prepayments and accrued Income
3,742
6.842
10,584
2,266
7, 140
9,406
17 Creditors:
amounts fallln8 due within one year
2024
2023
Bank loans and overdraft5
Trade creditors
Other taxes and social security
Other creditors
A¢¢ruals
1,444
425
1,754
471
2,237
6,331
881
376
1,847
458
2,760
6,322
Page 20

Love Russia Limited
Notes to the Accounts
18 Movement in funds
Incomin8
resources
{includin8
At ljuly
other
2023 galns/lo$ses)
Resources
expended
Gross
transfers
At 30 June
2024
Restrlrted fund5:
Unrestrirted funds:
General funds
241,106
268,515
(169,510)
181,5631
258,548
Deslgnated funds:
Support groups
Crisis centres
Empowering people with
disablllties
Transition Homes
Legacy Lodge development
Medical fund
12,771
7,829
120,812)
117,087}
8,041
9,258
45
12,730}
11,1491
1112,7931
18,6681
1163,2391
2,685
1,149
77,895
117,465)
81,563
34,898
26,133
Total
81,676
Total funds
241,106
350,191
{332,7491
258,548
Purposes and restrictions in relation to the f unds;
Designated funds:
Support groups
Support groups are commLJnity-based groups to benefit orphanage
graduates, orphan mums and younE people from impoverlshed homes,
These Eroups vary but aim to provide emotional, financial and life skills
support.
We support the running costs of the Women's Crisis Centre and a Men's
Crlsls Centre in a large, industrialised city in the north of the country
Supports a project for young people with disabilitles.
Crisls centres
Empowerln8 people with
d i5abilities
Transition Homes
To support the running of transltion homes at a subsidised rent for young
people
Development of a 24/7 refuge for young people
Provides funding for e55ential medicines and treatments
Legacy Lodge development
Medical fund
19 Analysls of net assets between funds
Unrestrirted
funds
Totsl
Fixed assets
648
257,900
258,548
648
Net current assets
257,900
258.548
Page 21

Love Russia Limited
Notes to the Accounts
20 Reconclllatlon of net debt
At l Julv
2023
At 30 June
2024
Cash flows
Cash and cash equivalents
234,802
234,802
16,648
16,648
251,450
251,450
Net debt
234,802
16,648
251,450
21 Commltments
Operating leose commltments
Annual commitments under non-cancellable operating leases are as follows..
2024
Land and
bulldln85
2024
2023
Land and
bulldln8S
2023
Other
Other
Operating leases with expiry date..
I n the second to flfth years inclusive
6,000
6,000
6,000
6,000
Pension commltments
2024
2023
The penslon cost charge to the company
amounted to:
2,512
2,371
22 Related party disclosure5
Controlling party
The company15 limited by guarantee and has no share capital,. thus no slngle party controls the company.
Page 22