LIGHT FOR CHILDREN LIMITED ANNUAL REVIEW & FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30 2023 t Light for Children Company Limited by guarantee - Registration No: 06138890 Charity Registration No - 1120680
LIGHT FOR CHILDREN LIMITED TRUSTEES, REPORT & FINANCIAL STATEMENTS YEAR ENDED SEPTEMBER 30 2023 CONTENTS General InfonatIOn TTUStees' and Directors. Report Statement of Financial Activities Balan Sheet Accounting Policies Notes to the accounts
LIGHT FOR CHILDREN LIMITED GENERAL INFORMATION YEAR ENDED SEPTEMBER 30 2023 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 Bumlwood WS7 2DH BANKERS C(Foperative Bank PLC 1 Balloon St Manchester M60 4EP
LIG FOR CHILDREN LIMrrED TRUSTEES, AND DIRECTORS. REPORT YEAR ENDED SEPTEMBER 30 2023 The Directors, who are the Trustees of the charitable company, present the annual report and financial statements for the year ended September 30, 2023. STRUCTURE, GOVERNANCE AND PAANAGEMENT Governlng Document The charity is a company limrted by guarantee and is governed by its Memorandum and Articles of Association dated March 5 2007, as amended by sp8cial resolution dated 10 August 2007. It registered as a charity wtth the Chanty Commission from 29 August 2007. Membership is open to those who apply in the form required by the Directors and are approved by the Directors. There are currently 8 members of the company. each of whom agree to contribute a sum not exceeding £1 in th8 8vent of the charty being wound up. Appolntmen( Inductlon and training of Directors and Trustoes Trustees We initially selected on th8 basis that they were committed to the concept of Llght for Children Ltd, had been involved in the previous work carried out in Romania via Sl Johns Church, Chase Terrace, and had an approrKiate range of skills to en8ur8 that the tharity was successfully launched. Each year the Directors consider whether there is a need to expand the range of skills and consider Inviting others to join their number. Light for Children has no specific policy for Dire¢lor Training, but training opportunities and govemance infomiation is forwarded to Dir8¢tors where appropriate. Each year one third of the direclors retire, being those long88t in office and are eligible for r8-8le¢tion. Organisation The Board of Directors, which must have a minimum of three members. administers the charity and meets as necessary. The Board delegate certain functions to a Management Committee which comprise of individuals committed to the obj'ects of Light for Children and actively involved In fundraising activities. OBJECTIVES AND ACTIVITIES The objectives of the charity are: 'The advancement of the Christian farth through the relief of need, hardship or sickness amongst children and young peoe, resident in or crtizens of Romania, by offering social, educational. cultural, medical, emotional and spiritual support according to Christian Princies.° The Directors seek to achieve these objectives by providing support to children and young people in the Romanian town of Dorohoi, focusing primanly on those living in families in poverty or with needs or living within, or recently moved on from, the state-run orphanage system. The activities are carried OLrt by Helen & Costel Cosman, who Itve in Dorohoi and are dedicating their lives to support these children and young people. Helen & Costel are supported by a team of volunteers who raise funds to enable this work to conts'nue.
LIGHT FOR CHILDREN LIMITED TRUSTEES, AND DIRECTORS, REPORT YEAR ENDED SEPTEMBER 30 2023 Statement of public benefft Th8 trustees have referred to the infonnation contained in the Chanty Commission's general guTrdance on public benefit when reviewing the aims and 0.ectiveS and in planning future activtties. The trustees believe that the activities carried out benefft the public by providing services and otherwise assist individuals in need because of FM)verty. ill-health, disability or lack of opportunity. ACHIEVEMENTS AND PERFORMANCE Light for Children charity is 80 privileged to have such an amazing group of supporters, who hav8 continued to help the work Helen carries out in Romania. Every donation makes a huge differen¢e to those in Romania. As in previous years, supporting the chIldn and young people living in state car8 in Dorohoi has teen our prionty We have continued to pay for their prescribed medication, m8dical tests. first aid and sunscreen products. optician appointments, glasses. and dental care. We have continued to fund schoolbooks and extra tuition as needed and have provided ongoing monthly sponsorship to several young adults to help cover their university expens8s. We continue to be extremely well supported which helps to provide all the service8 mentioned and more. We had three very successful events to help the Lighl for Childn funds. An amazing evening concert wrth Gan Teideal an Irish band. and a fantastic Garden Party where we were able to enjoy tea and cake and a good catch up wilh folk. Lastly, we had an excellent QU night, which challenged the brain cellsl The giving from our supporters and our fund raisers has really blessed H818n and the Committee. Thank you for another successful year. FINANCIAL REVIEW Income forthe yearwas £21,733 (2021r22 £22,207). This consisted mainly of donations and related gift-aid, together with proceeds from some fundraising activities. The donations from individuals and organisations remains stable and there has been an increase in grft aid tax refund income. Expenditure of £26,237 (2021122 £20,149) induded £16,803 (2021122 £11,3) spent directly on the provision of services to the young people, and £6,754 {2021122 £6,342) was paid to Helen & Costel directly to provide for their personal needs, from restricted fund donations given specrfically for that purpose. Other expenditure was kept to a minimum. There was a deficit of income over expenditure of £4,504 12021122 surplus in income £2,058), and this has been taken from accumulated resen4es. RISK REVIEW, FUNDS AND RESERVES POLICY The Trustees are actively involved in the charity and monitor risk in an infomial way. The trustees recognise the need for the Chanty to establish and maintain reserve$ to enable it to continue to cary out tts charitable objectives in the event of unforeseeable matters ar¢sing. They have resolved to maintain unrestricted free reserves sufficienl to cover M months, average running costs. c£10.000. At such a level the young people in Dorohoi could exFect to continue receiving support for a reasonable pericKI should new donations be unavailable for any reason. At 30 September 2023, free reserves stood at £16,224 which is higher than this range.
LIGHT FOR CHILDREN LIMITED TRUSTEES, AND DIRECTORS. REPORT YEAR ENDED SEPTEMBER 30 2023 The movement on funds held by the charrty are detailed in note 10 to the financial statements. PLANS FOR THE FUTURE The charity will continue to organise fund raisir@ èvènts and activities, towards the work in Romania. As funds become available. the charity will make grants to individuals in Romania or other charitable organisations with similar aims. will support the expenses of Helen and Costel Cosman in carrying out their work in Romania. We will provide funds to purchase items to support and hèlp children, young people and families of Romania and will consider other ways in which the needs of these people of Romania can be mel. DIRECTORS. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS Company law requires the Directors to prepare financial statements for each financial year, which give a true and fair view of the state of the company and of the surplus or defictt of the company for that period. In preparing those financial statements the directors have.. - selected suitable accounting poliaes and applied them consistently made judgments and estimates that are reasonable and prudent stated whether applicable accounting standards havè been followed, subject to any material departures disclosed and explained in the financial statements. prepared the financial Statements on the going concern ba818. The Directors are responsible for keeping records which disclose with reasonable accuracy at any time the financjal position of the company and to enable them to ensure that the financial statements comply with the Companies Act 20(6. They are also responsible for safeguarding the assets of the company and hence for taking Ste for the prevention and detection of fraud and other irregularities. SMALL COMPANY PROVISIONS This report 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 2006. Approved by the diredors and signed on their behalf by DIRECTOR Date.. 211112+
LIGHT FOR CHILDREN LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30 2023 Notes Unrestricted Restricted Funds Funds Total 2023 Total 2022 INCOME Donations 10.948 2.920 7.865 18.813 2,920 20,148 2,059 Fundraising Investment income TOTAL INCOME 13.868 7.865 21,733 22,207 EXPENDITURE Grgnls paid Fundraising costs Costs of tharilable ath'vth'es Charity admin TOTAL EXPENDITURE 17.229 937 18.216 7,991 25,220 967 26.237 19.818 331 20,149 8.021 NET INCOME I {EXPENDITUREI FOR THE YEAR BEFORE TRAMSFERS {4,348> {156} 14,5041 2,058 TRANSFERS 10 239 1239) NET INCOME I IEXPENDITUREI FOR THE YEAR AFTER TRANSFERS (4,109) {395) (4,504) 2,058 FUND BALANCES BROUGHT FORWARI 10 19.966 762 20,728 20,119 FUND BALANCES CARRIED FORWARD 10 15,857 387 22.177 TOTAL RECOGNISED GAINS AND L08SE8 There were no other gains or losses in the years other than th08e stated above. CONTINUING OPERATIONS None of the companys operalions We acquired or disposed of during the above financial years. The notes on pages 7 to 9 foTm part of these financial statements.
LIGHT FOR CHILDREN LIMITED BALANCE SHEET AT SEPTEMBER 30 2023 2023 2023 2022 2022 CURRENT ASSETS Debtors Cash at Bank and in Hand 1.551 14.673 16,224 1,363 19,365 20.728 CREDITORS Amounts falling due In l year NET CURRENT ASSETS 16,224 20,728 NET ASSETS 16,224 20,728 FUNDS Unrestrict8d Restrictèd TOTAL FUNDS 10 10 10 15,857 367 16,224 19,966 762 20,728 The notes on pages 7 to 9 fomi part of thesè financral statements. These accounts have been prepared in accordance wrth the special prowsions applicable to companies subject to the small company regimes. as sgt out in parts 15 and 16 of tho Companies Act 2006 For the year ended September 30 2022 the company wa5 entitled to th8 oxemplion from audit under section 477 of the Companies Act 2006 relating lo small companies. No members have required the Company lo obtain an audit of tts &counts for the year in question in accordance with section 476 The Directors acknowledge their responsibilrty for: (il complying with the requ1mentS of the Act with respect to accounts'ng records and the preparation of a¢¢ounts', lill preparing accounts in accordance with the provishS applicable to companies 8ubject to the small companies, regime Approved by the Trustees on'.- And signed on their behalf by'.- Trustee 2q 11121F
LIGHT FOR CHILDREN LIMITED NOTES TO THE FINANCIAL STATEMEKfs FOR THE YEAR ENDED SEPTEMBER 3112023 1 ACCOUNTING POLICIES The prlncipal a¢UntIng policies adopt&1 in the preparation of the financial statements are set out below. Basis of ac¢ountlng The accounts have been prepared on a going ¢oncem basi$. in acwdance with the historical cost convention and comply wilh the Ststement of Recommended PractKe 'Accounting and Reporting by Charities 2015 {FRSSEI" Fund a¢¢ountlng General funds are available at the diretn of the directors in furtherance of the general objecllves of the company. Degnated funds are those set aside by the directors for Specific purpo8e8 and may bé released to general funds at their di8cretK)n. Réstrlctéd funds ar6 funds subje¢l to 8Feryfic regtriction8 and cthditions imposad by fvnd8rs or by the PUTpose of the grant. Details of the balances on re$tri¢ted fvnds are given in the notes to the financial gtstements. Incomlng r080ure Incorne is recognised in the 8c¢I)unling per in it 18 receivable, except in the following circumstances, when the income is deferred and included in creditors.. Where the income relates to a future accounts'ng period Where some of the tems and condttions of the grant h8ve nol been met, including Ihe incurring of expendrture and the grant Conditions are such that unspent grant must be refunded. Income indudes grants in respect of revenue and capllal ilem8. Expendlture Costs ar6 defined as follows: Costs of generating funds Inclthle those sts associated wtth attracting voluntary income and in appI.n9 for new fvnding and sponsorship. CharitstAe expenditure The costs of the development and delivery of the charitable activrties. Govem8nce 3t$ The costs associated with meeting the constltutional and ststutory requirements of the Charity including fees for external scrutiny of the accounts and costs linked to the strategic management of the charity.
LIGHT FOR CHILDREN LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30 2023 Unrostricted Restricted Totsl 2023 2023 2023 Total 2022 2 DONATIONS Donations received from groups and organisalions Donations received from individuals Tax refund from Gift-aid scheme 2.430 6.762 1,756 10.948 2.760 4,300 805 7.865 5,190 11.062 2,561 5,240 12,139 2,769 20,148 3 FUNDRAISING INCOME Concerts & coffee mornings Quiz night Garden party Other 850 450 850 1,438 760 2.920 760 2,920 621 2,059 4 GRANTS PAID Romanian Aid Foundation 5 CHARITABLE EXPENDITURE SeThices to beneficiarie$ Ukrainian refugees Helen & Coslel personal exp8nses Helen's savings plan Insufance Bank charge8 r8lating to overseas transfers 16,803 16,803 112 6.764 1,126 311 115 11,390 550 6,342 1,144 302 90 19,818 112 6,754 1,125 311 115 6 CHARITY ADMIN CCPAS fees re D8S checks etc. 937 937 967 967 331 331 7 NET INCOMING RESOURCES FOR THE YEAR This is stated after ¢harging'. 2023 2022 Independent Examinerfs fees Trustees expenses & remuneration Trustees are entitled to claim out of pocket expenses but during the year no suth daims were received DEBTORS 2023 2022 Prepaid Insurance Gift aid claim outstsnding 327 1,224 1,551 311 1,052 1,363
LIGHT FOR CHILDREN LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED strTEMBER 3L12023 2023 2022 9 Bank & cash balances Held in UK banks Held in Romanian t¢nk or cash 14.673 19.365 14,673 19.365 10 STATEMENT OF FUNDS Balance BalanGe 0111012022 In¢om• Expwrfitur• Trnnsfers 3010912023 Unrestricted Funds: General réserves 19.966 13.868 (18,216) 239 15,857 19,966 13,868 (18.218 239 15,857 Ro8trlctod Fund$: Helen & Costel personal expenses Helen's savings plan Ukranlan refvgees Charlty Administration 506 144 112 6,690 1.145 (6.7541 (1,1251 11121 1301 (8,0211 (1841 {551 258 109 30 7,865 762 {2391 367 Total Funds 20.728 21.733 Rostrlcted fund• - Hel•n & c1.8 pgr¥onal oxp#nM• •nd Mvlng• plan Donatlons are receNed regularfy for the purpose of providing supt#yt gpèuficalty lo Helen & Costel Cosman, including covering the ¢ost of flights lo the UK. holidays, perwial items and to subsidise their living C08ts In Romania Donations are paid over lo Helen and Costel mmthty. The bance al the year end represents the donations received in the final month together wth aid daims for the perknl to September, and these bvill be paid over bn ts new flnanoal year. Ouring dorli0n8 are made 8pedficaUy to 8UPWt a 8aving$ plan for Helen, Re•trlctsd fvnd•- Charlty Admlnl•tratk The Trustees of the Chanty are rnmrtted to the idea that wherever possible general donalions lo the charity should not be used to fund administratKJn. To 858ffjt they make In-kind donalK)ns of items such a8 stats"onary and stsmps. 11 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances at September 30 2023 are represented by.'- Unvestrl¢led Funds- G•n•ral Dosignatsd Rutricted Funds Fund8 fund¥ Totsl Bank Balances Prepaid Insurance Grft debtor 14,645 327 885 15,857 28 14.673 327 1,224 339 367 12 TAXATION The Company is a registered chanty and is lmed to daim annual exempti from UK corporation tsx under $505 ICTA 1988