LIGHT FOR CHILDREN LIMITED ANNUAL REVIEW & FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30 2022 Company Limited by guarante•- Registration No: 06138890 Charity Registration No - 1120680
LIGHT FOR CHILDREN LIMrrED TRUSTEES, REPORT & FINANCIAL STATEMEHrs YEAR ENDED SEPTEMBER 30 2022 CONTENTS General Information Trustees. and Directors. Report Statement of Financial Activities Balan Sheet Accounting Policies Notes to the accounts
LIGHT FOR CHILDREN LIMrrED GENERAL INFORMATION YEAR ENDED SEPTEMBER 30 2022 DIRECTORS David Bamsley Michael Emery Margaret Nevill Trish McElroy Brian Buckley Mary Aplin Maureen Howe Chris Howe TREASURER Mary Aplin COMPANY SECTRETARY Trish McElroy REGISTERED OFFICE 100 Rochester Avenue Burntwood WS7 2DH BANKERS Ctroperative Bank PLC 1 Balloon St Manchester M60 4EP
LIGHT FOR CHILDREN LIMITED TRUSTEES, AND DIRECTORS. REPORT YEAR ENDED SEPTEMBER 30 2022 The Diredors, 10 are the Trustees of the charitable company. present the annual report and financial statements for the year ended September 30. 2022. STRUCTURE, GOVERNANCE AND MANAGEMEKr Govemlng Document The charity is a company limited by guarantee and is govemed by its Memorandum and Articles of Association dated March 5 2007. as amended by special resolution dated 10 August 2007. It registered as a charity with the Charity Commission from 29 August 2007. Membership is open to those who apply in the fomi required by the Directors and are approved by the DireGtors. There are ¢urrenUy 8 members of the company. each of whom agree to Gontribute a sum not exedIng £1 in the event of the charity being wound up. Appointmen( Induction and training of Directors and Trustees Trustees We initially selected on the basis that they Vre committed to the conpl of Light for Children Ltd. had been involved in the previous work carried out in Romania via St Johns Church, Chase Terra, and had an appropriate range of skills to ensure that the charity was successfully launched. Each year the Directors consider vthether there is a need to expand the range of skills and Gonsider inviting others tojoin their number. knght for Children has no specrfic policy for Director Training, but training opportunities arKI governan infonnation is forwarded to Directors where appropriate. Each year one third of the dirertors retire, being those longest in office and are eligible for re-election. Organisation The Board of Directors. which must have a minimum of three members, administers the charity and meets as ne$sary. The Board delegate certain functions to a Managemenl Committee which comprise of individuals committed to the objects of Light for Children and actively involved in fundraising activrties. OBJECTIVES AND ACTMTIES The objectives of the charity are: °The advancement of the Christian faith through the relief of need, hardship or sickness amongst children and young people. resident in or citFzens of Romania, by offering social. educational. cultural, medical, emotional and spiritual support according to Christian prinGiples." The Directors seek to achieve these objectives by providing support to children and young people in the Romanian town of Dorohoi. focusing primarily on those living in families in poverty or with needs or living within, or rerrtlY moved on from. the ststtrrun orphanage system. The activities are carried out by Helen & Costel Cosman, who live in Dorohoi and are dedicating their lives to support these children and young people. Helen & Costel are supported by a team of volunteers vtho raise funds to enable this work to continue.
LIGHT FOR CHILDREN L]mED TRUSTEES, AND DIRECTORS, REPORT YEAR ENDED SEPTEMBER 30 2022 Statement of publlc benefft The trustees have referred to the infomiation contained in the Charity Commission's general guidan on public benefft when reviewng the aims and objectives and in plannin9 future a¢tivities. The trustees believe that the activities carried out benefrt the public by providing services and otheThvise assist individuals in need because of poverty. ilkhealth. disabilty or lack of opportunty. ACHIEVEMENTS AND PERFORMANCE 2021122 proved to be an easier year for the charrty, here in the UK, and also for Helen in Romania. as Ihe covid pandemic tecame more under control. Light for Children thartty is so privileged to have such an amazing group of supporters, who have continued to help the work Helen carries OLrt in Romania. Every donalion makes a huge differen to those in Romania. As restrictions eased and we felt folk Vre beginning to feel more comfortable in meeting in public, we ran three Coffee and Cake aftem¢)ons. We were also alJe to benefft from the skills ofthe Shanty Singers which made the events even more popular. It was great to te able to meet again with our supporters and were encouraged by the funds raised at the events. The giving from our supporters and our fund raisers really blessed Helen and the Committee. This meant y were able to begin the new financial year in very healthier position. Helen continues to help the thildren, young people, and families in Dorohoi. Helen's skills in negotiating the necessary help in Ihe changing rcUMstan$ have again benefrtted and blessed the lives of the people the charity cares for. We thank her for the selfless work and help she provides in making lives a littie easier in that area of Romania. FINANCIAL REVIEW Income for the yearwas £22.207 {2020121 £20.484). This consisted mainly of donations and related gift-aid, together with proceeds from some furKlraising activities. The donations from individuals and organisations remains stable and there has been an increase in gfft aid tax refund income. Expendtture of £20,149 (2020r21 £21,932) induded £11,390 (2020121 £13,430) spent directly on the provision of serVIS to the young people, and £6,342 {2020121 £6,354) was paid to Helen & Costel directly to provide for their personal needs, restrscted fund donations given specifically for that purpose. Other expenditure was kept to a minimum. The was a surplus of income over expenditure of £2,058 (2020121 deficit in income -£1.449), and this has èeen taken to accumulated resen48s. RISK REVIEW, FUNDS AND RESERVES POLICY The Trustees a active involved in the tharity and monitor risk in an inft)nal way. The trustees recognise the need for the Chartty to establish and maintain reserves to enable it to ¢ontinue to carry out rts charitable objectives in the event of UnfOreseeate matters arising. They have resolved to maintain unrestricted free reserves sufficient to Gover 3-6 months. average running costs, c£10,000. At such a level the young people in Dorohoi could expect to continue receiving support for a reasonable period should new donations be unavailable for any reason. At 30 September 2022, free reserves stood at £19,966 whith is hwher than this range.
LIGHT FOR CHILDREN LIMrrED TRUSTEES, AND DIRECTORS, REPORT YEAR ENDED SEPTEMBER 30 2022 The movement on funds Ild by the tharity are detailed in note 10 to the financial statements. PLANS FOR THE FUTURE The charity wll continue to organise fund raising events and activities. towards the work in Romania. As funds become available. the charty will make grants to individuaL8 in Romania or other charitable organisations wrth similar aims. will support the expenses of Helen and Costel Cosman in carrying out their work in Romania. We will provide funds to purchase tlems to support and help children, young people and families of Romania and will consider other ways in which thè needs of these people of Romania Gan be met. DIRECTORS, RESPONSIBILrriES IN RELATION TO THE FINANCIAL STATEMENTS Company law requires the Directors to prepare financial statements for each finanaal year. which give a Irue and fair view of the state of the company and of the surplus or defiot of the company for that period. In preparing those finanual statements the directors have: _ selected surtable accounting policies and applied them consistently made judgments and estimates Ihat are reasonable and pruderrt stated whether applicable accounting standards have been followed. subjeGt to any matenal departures disclosed and explained in the financial statements. prepared the financial statements on the going COnM basis. The Directors are responsible for keeFyng records which disclose wtth reasonable accuracy al any time the financial position of the company and to enable them to ensure that the financial statements omply with the Companies Act 2C(E. They are also responsible for safeguarding the assets of the Company and hen for taking steps for the prevention and detection of fraud and other irrégularities. SMALL COMPANY PROVISIONS This rewt has been prepared in accordance with the special provisions applicable to companies subject to the small Company regimes, as set out in parts 15 and 16 of the Companies Act 20(. Approved by the directors and signed on their behalf by DIRECTOR Date:
LIGKf FOR CHILDREN LIMITED STATEMENT OF FINANCIAL ACTlVtnES FOR THE YEAR ENDED SEPTEMBER 30 2022 Unrestrtcted Restricted Totsl Funds Funds 2022 Total 2021 INCOME Donations Fundraising Investment income TOTAL INCOME 11,397 3.134 7.676 19.073 3,134 19.914 570 14,531 7,676 22.207 20,484 EXPENDITURE Grants paid Fundraising costs Costs of charitable actbvit*s Charty admin TOTAL EXPENDITURE 11.782 331 12.113 8.036 19,818 331 20,149 21,803 129 21,932 8.036 NET INCOME I (EXPENDITURE) FOR THE YEAR BEFORE TRANSFERS 2,418 {360) 2.058 11,448} TRANSFERS 10 (S) NET INCOME I (EXPENDITURE) FOR THE YEAR AER TRANSFERS 1.918 140 2,058 {1,448) FUND BALAIICES BROiIGHT FORYIARD 10 17.817 853 18,670 20,119 FUND 8ALANCE3 CARRIED FORWARD 10 19.735 993 20,728 18,671 TOTAL RECOGNISED GAINS AND LOSSES The were no other gains or losses in the ts¥o years other than those Stat atove. CONTINUING OPERATIONS None of the companls operations 7bEre acquir1 or disposed of during the above financial years. The notes on pages 7 to 9 form part of these financial statements.
LIGHT FOR CHILDREN UMfTED BALANCE SHEET AT SEPTEMBER 30 2022 2022 2022 2021 2021 CURRENT ASSErs Debtors Cash at Bank and in Hand 1.152 17,518 18,670 19.365 20.728 CREDITORS Amounts falling due in 1 year NEf CURRENT ASSETS 20.728 18,670 NET ASSETS 18,670 FUNDS Unrestlted Restri¢ted TOTAL FUNDS 10 10 10 19.735 993 20,728 17,817 853 18,670 The notes on pages 7 to 9 fom) part of these financial sL2tements. These accounts have been prepared in acc(xdance with the s181 provisions applicable to companies subject to the small company regimes. as set out in parts 15 and 16 of the Companw Act 20C6 For the year ended September 30 2022 the panY vra5 entived to the exempts.on from audit under section 477 of the Companies Act relating to small companies. No members have required the Company to obtain an ajdit of Trts accounts for the year in question in accordance with section 476 The Directors acknowledge their responsibilty for. {1) complying with the requirements of the Act with to aCcnting records and the prepaiation of accounts.. lil) preparing accounts in ac0)rdare with the provisions applicable to o)mpanies subject to the small companies, regime Approved by the Ttee8 on: And signed on their beh8W by.' Trustee
LIGHT FOR CHILDREN LIMftED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 3112022 1 ACCOUNTING POUCIES The principal accounting polrcies adoptwj in the preparation of the firkgnc1 statements are set out below. Basis of accountlng The accounts have bn prepared on a going conrn basis, in accordance the historical cost convention and compty with the Ststement of R0mended Practice -Accounting and Reporting by Charities 2015 (FRSSE)" . Fund accounting General funds are available at the dis(¥etion of the directors in furtherance of the general objectives of the company. Designated fvnds are those set aside ty the directors for specific purposes and may be released to general funds at their discreti. Restricted funds are funds $uFiect to specific reStr10S and conditions ImFSed by funders or by the purpose of the grant. Details of the balances on restricted funds are gNen in the notes to the financial slatements. Incomlng resour¢es Income is recognised in the accounting pemd in which it is recep4able. except in the following circumstances. when the irne is deferred and induded in creditors.. Where the income relates to a future aountIng period Where some of the tems and wnditrons of the grant have rK)t met, including the incurring of expenditure and the grant ¢x)nditi'ons are sh that unspent grant rnust be refvnded. Income indudes grants in resFcI of revenue and cawtsl items. Expenditure Costs are defined as follows." Costs of generating ndS Include those ¢0sts associth with attracting voluntary income and in applyiThJ for new funding and sponsorship. Charitable expenditure The c£tsts of the development and delivery of the charitable Goveman¢e costs The costs associated with meeting the constitutional and statutory requirements of the charity including fees for extemal S¢TUtiny of the accounts and costs linked to the strategic management of the charity.
LIGHT FOR CHILDREN LIMITED NOTES TO THE FINANCIAL STATEMEKfs FOR THE YEAR ENDED SEPTEMBER 30 2022 Unrestricted Restricted Totsl 2022 2022 2022 Total 2021 2 DONATIONS Donalions received from groups and organisatM)ns Donations received from indrvrduals Tax refijnd from Gift-aid scheme 2.400 4.300 976 7.676 5.240 11,064 2,769 4,480 13,378 2,056 19.914 6.764 1,793 11.397 3 FUNDRAISING INCOME Concerts & coffee mornings Christmas? Quiz night Other 1,438 1.075 1.075 621 3.134 621 3,134 570 570 4 GRANTS PAID Romanian Aid Foundation 5 CHARITABLE EXPENDMJRE Services to beneficiaries Ukrainian reeeS Helen & Costel personal expenses Helen's savings plan Insurance Bank charges lating to overseas transfers 11,390 11.390 13.430 550 6.342 1.144 6,342 1.144 302 6.354 1,617 302 100 21,803 302 90 11,782 8.036 6 CHARITY ADMIN CCPAS fees DBS checks etc. 331 331 331 331 129 129 7 INCOMING RESOURCES FOR THE YEAR This is slated after charging.. 2022 20 Independent Examinerfs fees Trustees expenses & remuneration Trustees are entitbj to clM out of pocket expenses but during the no such ck7ims were received 8 DEBTORS 2022 2021 Prepaid Insuran Gtft aid claim ouistanding 311 1,052 1.363 302 850 1,152
LIGTrrr FOR CHILDREN LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30 2022 2022 2021 9 Bank & cash balances Held in UK banks Held in Romanian bank or cash 19,365 17,518 19.365 17,518 10 STATEMENT OF FUNDS 8alan¢• 01n012021 Income Exwidituro Trnnsfers Balancg 3010912022 Unrestricted Funds: General reserves 17.817 14.531 (12.113) {500} 19.735 17.817 14.531 {12.113) (500) Restricted Funds: Helen & Costel personal expenses Helen's savings plan Ukranian refugees Charity Administratiijn 19,735 176 677 5,893 1.121 (6.342} {1.144) (550) 500 227 654 7,676 {8,036) 993 Total Funds 18.670 22,207 20,149 20.728 Restricted fvnds. Hèlen & Cost•l's peiyofwl expwrsos and rAvings plan Donations are received regularty foT the wrpose of providing suppcrft to Helen & Co$lel Cosrnan. including covering the cost of flights lo the UK. h¢thYS, ttems and to 5ubsidtse their living costs in Romania. Donations are paid over to Hden and Costel monthty. The balae at the year end represents the donations received in the final month cgether grft aid cL4ims for the per)d to September. and these bvill be paid over in the new finanaal year. During the year donatio were made speaficalty to support a sawngs plan for Helen. and this will be p8id over en she has eablished a suitat Investm vehicle. Rgstrlcted fvnds . Charfty Administrntion The Trustees of the Charty are committed to the i(ka that wherever p)S5ible general donations to the carrty should not be used to fund administration. For that reason they each make a speufic personal cash donation every year which is held in a restricled nd to be used for Charity Governan and Admin costs. In addrtion they make in-kind donati¢)ns of item5 SLth as stiy, stamps and the $t ofts just ging *bsile 11 ANALYSIS OF NET ASSEfs BETWEEN FUNDS -Unrgstrlct•d Fvnds- Fund balances at September 30 2021 G•neral Designated Restri¢ted are represented ty:_ Funds Funds Totsl Bank Balances Prepaid Insurance Gift Aid debtor 19,015 311 350 19,365 643 993 1.052 20,728 19,735 12 TAXATtON The Company is a regiered charity and is &rtitled to dawn annual exempt from UK corporatiw tsx under $505 ICTA 1988