## **REGISTERED COMPANY NUMBER: 4595978 (England and Wales) REGISTERED CHARITY NUMBER: 1098987**
Report of the Trustees, Independent Examiners Report and Unaudited Financial Statements for the Year Ended 30 June 2025
for
Light for Bulgaria Limited
## **Light for Bulgaria Limited**
Contents of the Financial Statements for the Year Ended 30 June 2025
||Page|
|---|---|
|Report of the Trustees|1|
|Statement of Financial Activities|2|
|Balance Sheet|3|
|Notes to the Financial Statements|4 to 7|
|Detailed Statement of Financial Activities|8|
## **Light for Bulgaria Limited**
## **Report of the Trustees for the Year Ended 30 June 2025**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of 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 2019)
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Management**
Michelle Lineros, who is a Trustee, works full time for the charity. She is responsible for fund raising, which includes meetings with various organisations, liaison with the teams in Bulgaria and claiming Gift Aid.
Light for Bulgaria Limited (LFB) has a sister charity, Svetlina Za Bulgaria, which is based in Bulgaria and oversees the work in Bulgaria. It also receives donations and aid from various European countries. Michelle Lineros is a trustee of the Bulgarian charity and as part of the aid to Bulgaria LFB pays her salary for work under taken for the Bulgarian charity. It is estimated that 70% of Michelle's salary is for this work, which includes online meetings with various team leaders, training and visits to the country.
**Registered Company number** 4595978 (England and Wales)
**Registered Charity number** 1098987 Charity Commission for England & Wales
## **Registered office**
77 Strouden Road, Bournemouth, Dorset, BH9 1QN
## **Trustees**
D James Mrs M N Lineros T R Cologne
## **Company Secretary**
Mrs M N Lineros
Approved by order of the board of trustees on 12 March 2026 and signed on its behalf by:
D James - Trustee
Page 1
## **Light for Bulgaria Limited**
Statement of Financial Activities for the year Ended 30 June 2025
|Notes
**Income and Endowments from**
Donations and legacies
5
**Expenditure on charitable activities**
Funds to Bulgaia
Other
**Total**
**Net Income / (Expenditure)**
**Reconciliation of Funds**
Total funds brought forward
**Total Funds carried forward**|30/06/2025
Total
fund
£
46,186
(12,702)
(19,800)
(32,502)
13,684
24,353
38,037|30/06/2024
Total
funds
£
24,584
(5,864)
(19,558)
(25,422)
(838)
25,191
24,353|
|---|---|---|
Page 2
## **Light for Bulgaria Limited**
## **Balance Sheet as at 30/06/2025**
|Notes
**Current Assets**
Cash at bank
**Net Current Assets**
**Total Assets Less Total Liabilities**
**Net Assets**
**Funds**
Unrestricted funds
5
Restricted funds
**Total Funds**|30/06/2025
Total
funds
£
38,037
38,037
38,037
38,037
13,208
24,829
38,037|30/06/2024
Total
funds
£
24,353
24,353
24,353
24,353
11,932
12,421
24,353|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 12 March 2026 and were signed on its behalf by:
D James - Trustee
The notes form part of these financial statements
Page 3
## **Light for Bulgaria Limited**
Notes to the Financial Statements for the Year Ended 30 June 2025
## 1 **Accounting Policies**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 4
## **Light for Bulgaria Limited**
Notes to the Financial Statements for the Year Ended 30 June 2025 - continued
|**2 Trustees' Remuneration and Benefits**
30/06/2025
£
Trustees' salaries
16,029
Trustees' expenses
0
**3 Staffing**
30/06/2025
The average monthly number of employees during the year was as follows:
Trustee
1
No employees received emoluments in excess of £60,000.
**4 Comparitive for the Statement of Financial Activities**
30/06/2025
**Restricted Funds**
£
**Income and Endowments from**
Donations and legacies
20,574
**Expenditure on charitable activities**
Other
(11,110)
**Net Income**
9,464
**Total Funds brought forward**
15,365
**Total Funds carried forward**
24,829
**General Funds**
£
**Income and Endowments from**
Donations and legacies
25,612
**Expenditure on charitable activities**
Other
(21,391)
**Net Income**
4,221
**Total Funds brought forward**
8,987
**Total Funds carried forward**
13,208|30/06/2024
£
15,990
0
30/06/2024
1
30/06/2024
£
120
(60)
60
12,362
12,422
£
24,464
(25,362)
(898)
12,829
11,931|
|---|---|
Page 5
## **Light for Bulgaria Limited**
Notes to the Financial Statements for the Year Ended 30 June 2025 - continued
## **5 Movement in Funds**
|Net
As at
movement
01/07/2024
in funds
£
£
Restricted Funds
15,365
9,464
General Funds
8,987
4,221
**Total Funds**
24,352
13,685
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Restricted Funds
20,574
(11,110)
General fund
25,612
(21,391)
**Total Funds**
46,186
(32,501)
**Comparatives for movement in funds**
Net
As at
movement
01/07/2023
in funds
£
£
Restricted Funds
12,362
60
General fund
12,829
(898)
**Total Funds**
25,191
(838)|As at
30/06/2025
£
24,829
13,208
38,037
Movement
in funds
£
9,464
4,221
13,685
As at
30/06/2024
£
12,422
11,931
24,353|
|---|---|
|Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Restricted Funds
120
(60)
General fund
24,464
(25,362)
**Total Funds**
24,584
(25,422)|Movement
in funds
£
60
(898)
(838)|
|---|---|
Page 6
## **Light for Bulgaria Limited**
Notes to the Financial Statements for the Year Ended 30 June 2025 - continued
## **6 Realted party disclosure**
There were no related party transactions for the year ended 30 June 2025.
Page 7
## **Light for Bulgaria Limited**
|**Detailed Statement of Financial Activities**
**for the Year Ended 30 June 2025**
**30/06/2025**
£
**Income and Endowments**
**Donations and legacies**
Donations
46,127
Interest received
59
**Total incoming resources**
46,186
**Expenditure**
**Charitable activities**
Relief work in Bulgaria
(12,702)
**Support costs**
**Management**
Trustees' salaries & Pension contributions
(16,029)
**Finance**
Sundries
(1,452)
Office
(1,195)
Training
(929)
Bank charges
(195)
(3,771)
Total resources expended
(32,502)
**Net income / (expenditure)**
13,684
This page does not form part of the statutory financial statements|**30/06/2024**
£
24,554
30
24,584
(5,864)
(15,990)
(2,160)
(1,263)
-
(145)
(3,568)
(25,422)
(838)|
|---|---|
Page 8
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## **REGISTERED COMPANY NUMBER: 4595978 (England and Wales) REGISTERED CHARITY NUMBER: 1098987**
Report of the Trustees, Independent Examiners Report and Unaudited Financial Statements for the Year Ended 30 June 2025
for
Light for Bulgaria Limited
## **Light for Bulgaria Limited**
Contents of the Financial Statements for the Year Ended 30 June 2025
||Page|
|---|---|
|Report of the Trustees|1|
|Statement of Financial Activities|2|
|Balance Sheet|3|
|Notes to the Financial Statements|4 to 7|
|Detailed Statement of Financial Activities|8|
## **Light for Bulgaria Limited**
## **Report of the Trustees for the Year Ended 30 June 2025**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of 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 2019)
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Management**
Michelle Lineros, who is a Trustee, works full time for the charity. She is responsible for fund raising, which includes meetings with various organisations, liaison with the teams in Bulgaria and claiming Gift Aid.
Light for Bulgaria Limited (LFB) has a sister charity, Svetlina Za Bulgaria, which is based in Bulgaria and oversees the work in Bulgaria. It also receives donations and aid from various European countries. Michelle Lineros is a trustee of the Bulgarian charity and as part of the aid to Bulgaria LFB pays her salary for work under taken for the Bulgarian charity. It is estimated that 70% of Michelle's salary is for this work, which includes online meetings with various team leaders, training and visits to the country.
**Registered Company number** 4595978 (England and Wales)
**Registered Charity number** 1098987 Charity Commission for England & Wales
## **Registered office**
77 Strouden Road, Bournemouth, Dorset, BH9 1QN
## **Trustees**
D James Mrs M N Lineros T R Cologne
## **Company Secretary**
Mrs M N Lineros
Approved by order of the board of trustees on 12 March 2026 and signed on its behalf by:
D James - Trustee
Page 1
## **Light for Bulgaria Limited**
Statement of Financial Activities for the year Ended 30 June 2025
|Notes
**Income and Endowments from**
Donations and legacies
5
**Expenditure on charitable activities**
Funds to Bulgaia
Other
**Total**
**Net Income / (Expenditure)**
**Reconciliation of Funds**
Total funds brought forward
**Total Funds carried forward**|30/06/2025
Total
fund
£
46,186
(12,702)
(19,800)
(32,502)
13,684
24,353
38,037|30/06/2024
Total
funds
£
24,584
(5,864)
(19,558)
(25,422)
(838)
25,191
24,353|
|---|---|---|
Page 2
## **Light for Bulgaria Limited**
## **Balance Sheet as at 30/06/2025**
|Notes
**Current Assets**
Cash at bank
**Net Current Assets**
**Total Assets Less Total Liabilities**
**Net Assets**
**Funds**
Unrestricted funds
5
Restricted funds
**Total Funds**|30/06/2025
Total
funds
£
38,037
38,037
38,037
38,037
13,208
24,829
38,037|30/06/2024
Total
funds
£
24,353
24,353
24,353
24,353
11,932
12,421
24,353|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 12 March 2026 and were signed on its behalf by:
D James - Trustee
The notes form part of these financial statements
Page 3
## **Light for Bulgaria Limited**
Notes to the Financial Statements for the Year Ended 30 June 2025
## 1 **Accounting Policies**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 4
## **Light for Bulgaria Limited**
Notes to the Financial Statements for the Year Ended 30 June 2025 - continued
|**2 Trustees' Remuneration and Benefits**
30/06/2025
£
Trustees' salaries
16,029
Trustees' expenses
0
**3 Staffing**
30/06/2025
The average monthly number of employees during the year was as follows:
Trustee
1
No employees received emoluments in excess of £60,000.
**4 Comparitive for the Statement of Financial Activities**
30/06/2025
**Restricted Funds**
£
**Income and Endowments from**
Donations and legacies
20,574
**Expenditure on charitable activities**
Other
(11,110)
**Net Income**
9,464
**Total Funds brought forward**
15,365
**Total Funds carried forward**
24,829
**General Funds**
£
**Income and Endowments from**
Donations and legacies
25,612
**Expenditure on charitable activities**
Other
(21,391)
**Net Income**
4,221
**Total Funds brought forward**
8,987
**Total Funds carried forward**
13,208|30/06/2024
£
15,990
0
30/06/2024
1
30/06/2024
£
120
(60)
60
12,362
12,422
£
24,464
(25,362)
(898)
12,829
11,931|
|---|---|
Page 5
## **Light for Bulgaria Limited**
Notes to the Financial Statements for the Year Ended 30 June 2025 - continued
## **5 Movement in Funds**
|Net
As at
movement
01/07/2024
in funds
£
£
Restricted Funds
15,365
9,464
General Funds
8,987
4,221
**Total Funds**
24,352
13,685
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Restricted Funds
20,574
(11,110)
General fund
25,612
(21,391)
**Total Funds**
46,186
(32,501)
**Comparatives for movement in funds**
Net
As at
movement
01/07/2023
in funds
£
£
Restricted Funds
12,362
60
General fund
12,829
(898)
**Total Funds**
25,191
(838)|As at
30/06/2025
£
24,829
13,208
38,037
Movement
in funds
£
9,464
4,221
13,685
As at
30/06/2024
£
12,422
11,931
24,353|
|---|---|
|Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Restricted Funds
120
(60)
General fund
24,464
(25,362)
**Total Funds**
24,584
(25,422)|Movement
in funds
£
60
(898)
(838)|
|---|---|
Page 6
## **Light for Bulgaria Limited**
Notes to the Financial Statements for the Year Ended 30 June 2025 - continued
## **6 Realted party disclosure**
There were no related party transactions for the year ended 30 June 2025.
Page 7
## **Light for Bulgaria Limited**
|**Detailed Statement of Financial Activities**
**for the Year Ended 30 June 2025**
**30/06/2025**
£
**Income and Endowments**
**Donations and legacies**
Donations
46,127
Interest received
59
**Total incoming resources**
46,186
**Expenditure**
**Charitable activities**
Relief work in Bulgaria
(12,702)
**Support costs**
**Management**
Trustees' salaries & Pension contributions
(16,029)
**Finance**
Sundries
(1,452)
Office
(1,195)
Training
(929)
Bank charges
(195)
(3,771)
Total resources expended
(32,502)
**Net income / (expenditure)**
13,684
This page does not form part of the statutory financial statements|**30/06/2024**
£
24,554
30
24,584
(5,864)
(15,990)
(2,160)
(1,263)
-
(145)
(3,568)
(25,422)
(838)|
|---|---|
Page 8