LIGHT FOR CHILDREN LIMITED ANNUAL REVIEW & FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30 2024 ' 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 2024 CONTENTS General Inft)rmation Trustees, 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 2024 DIRECTORS David Barnsley 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 Co-operative Bank PLC 1 Balloon St Manchester M60 4EP
LIGHT FOR CHILDREN LIMITED TRUSTEES, AND DIRECTORS, REPORT YEAR ENDED SEPTEMBER 30 2024 The Directors, who are the Trustees of the charitable company, present the annual report and financial statements for the year ended September 30, 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Document The charity is a company limited by guarantee and is governed 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 form required by the Directors and are approved by the Directors. There are urrently 8 members of the company. each of whom agree to contribute a sum not exceeding £1 in the event of the charity being wound up. Appointment, Inductlon and trainlng of Dlrectors and Trustees Trustees were initially selected on the basis that they were committed to the concept of Light for Children Ltd, had been involved in the previous work carried out in Romania via St Johns Church, Chase Terrace, and had an appropriate range of skills to ensure that the charity was successfully launched. Each year the Directors consider whether there is a need to expand the range of skills and consider inviting others tojoin their number. Light for Children has no specific policy for Director Training, but training opportunities and govemance information is fOarded lo Directors where appropriate. Each year one third of the directors retire, being those longest in office and are eligible for re-election. Organlsatlon 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 commrtted lo the objects of Light for Children and actively involved in fundraising activities. OBJECTIVES AND ACTIVITIES The objectives of the charity are: 'The advanment of the Christian faith through the relief of need, hardship or sickness amongst children and young people, resident in or citizens of Romania, by offering social, educational. cultural, medical, emotional and spiritual support according to Christian principles. 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 recently moved on from, the state-run orphanage system. The activities are carried out by Helen & Costel Cosman, who live in Dorohoi and are dedicating their lives to support Ihese children and young people. Helen & Costel are supported by a team of volunteers who raise funds to enable this work to continue.
LIGHT FOR CHILDREN LIMITED TRUSTEES, AND DIRECTORS, REPORT YEAR ENDED SEPTEMBER 30 2024 statement of public benefit The trustees have referred to the information contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities. The trustees believe that the activities carried out benefit the public by providing services and otherwise assist individuals in need because of povety. ill-health. disability or lack of opportunity. ACHIEVEMENTS AND PERFORMANCE Light for Children charity is so privileged to have such an amazing group of supporters, who have continued to help the work Helen carries out in Romania. Every donation makes a huge difference to those in Romania. As in previous years, supporting the children and young people living in state care in Dorohoi has been our priority. We have continued lo pay for their prescribed medication, medical lests, first aid, 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 expenses. We continue to be extremely well supported which helps to provide all the services mentioned and more. We had three amazing events in the 23124 year. Another epic Quiz from John Nicholls. What a star he is, such a faithful Light for Children supporter. A murder was then on the agenda. The Murder Mystery was an incredible night, where 100 people were investigating a murder. The evening went well, with everyone enjoying the event. Fortunately, no one was actually murderedll Lastly we had musical extravaganza with The Rock Choir, what a fantastic night that was. The giving from our supporters and our fund raisers has really blessed Helen and the Committee. Thank you for another successful year. FINANCIAL REVIEW Income for the yearwas £19,804 (2022123 £21,733). This consisted mainly of donations and related gift-aid, togetherwith proceeds from some fundraising activities. The donations from individuals and organisations remains stable and there has been an increase in gift aid tax refund income. Expenditure of £24,424 (2022123 £26,237) included £15,425 (2022123 £16,803) spent directly on the provision of services to the young people, and £6,970 (2022123 £6,754) was paid to Helen & Costel directly to provide for their personal needs, from restricted fund donations given specifically for that purpose. Other expenditure was kept to a minimum. There was a deficit of income over expenditure of £4,620 (2022123 deficit of income £4.504), and this has been taken from accumulated reserves. RISK REVIEW, FUNDS AND RESERVES POLICY The Trustees are actively involved in the charity and monitor risk in an informal way. The trustees recognise the need for the Charity to establish and maintain reserves to enable it to continue to carry out its charitable objectives in the event of unforeseeable matters arising. They have resolved to maintain unrestricted free reserves sufficient to cover 3-6 months, average running cosls, c£12.000. At such a level the young people in Dorohoi could expect to continue reIving support for a reasonable period should new donations be unavailable for any reason. At 30 September 2024, free reserves stood at £11,604 which is in line wrth this range.
LIGHT FOR CHILDREN LIMITED TRUSTEES, AND DIRECTORS. REPORT YEAR ENDED SEPTEMBER 30 2024 The movement on funds held by the Gharity are detailed in note 10 to the financial statements. PLANS FOR THE FUTURE The charity will continue to organise fund raising events and activilies, towards the work in Romania. As funds become available. the charity will make grants to individuals in Romania or othercharitable organisations wtlh 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 help children. young people and families of Romania and will consider other ways in which the needs of these people of Romania can be met. 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 deficrt of the company for that period. In preparing those financial statements the directors have.. - selected suitable accounting policies and applied them consistently made judgments and estimates that are reasonable and prudent stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepared the financial statements on the going concern basis. The Directors are responsible for keeping records which disclose wrth reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe company and hence for taking steps 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 directors and signed on their behalf by DIRECTOR Date-.
LIGHT FOR CHILDREN LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30 2024 Notss Unrestricted Restricted Funds Funds Total 2024 Total 2023 INCOME Donations 9.862 1,823 8,119 17,981 1.823 18,813 2,920 Fundraising Investment income TOTAL INCOME 11,685 8,119 19,804 21,733 EXPENDITURE Grants paid Fundraising costs Costs of charitable activities Charily admin TOTAL EXPENDITURE 50 25,220 967 26,237 15,857 472 16,329 8,095 23,952 472 24,424 8,095 NET INCOME I (EXPENDITURE) FOR THE YEAR BEFORE TRANSFERS (4,644) 24 (4,620) (4,504) TRAN8FER8 10 {549) 549 NET INCOME I (EXPENDITURE) FOR THE YEAR AFTER TRANSFERS 5,193 4,504 FUND BALANCES BROUGHT FORWARC 10 15,857 367 16,224 20,728 FUND BALANCES CARRIED FORWARD 10 940 TOTAL RECOGNISED GAINS AND LOSSES There were no other gains or losses in the two years other than those stated above. CONTINUING OPERATIONS None of the company's operations were acquired or disposed of during the above two financial years. The notes on pages 7 to 9 fomi part of these financial statements.
LIGHT FOR CHILDREN LIMITED BALANCE SHEET AT SEPTEMBER 30 2024 Notss 2024 2024 2023 2023 CURRENT ASSETS Debtors Cash at Bank and in Hand 1,283 10,321 11,604 1,551 14,673 16,224 CREDITORS Amounts falling due in 1 year NET CURRENT ASSETS 11,604 16,224 NET ASSETS FUNDS Unrestricted Restricted TOTAL FUNDS 10 10 10 10,664 15,857 367 The notes on pages 7 to 9 form part of these financlal statements. These accounts have 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 For the year ended September 30 2022 the company VRS entitled to the exemption from audit under section 477 of the Companies Act 2008 relating to small companies. No members have required the Company to obtain an audrt of its accounts for the year in question in accordance wrth section 476 The Directors acknowledge their responsibility for. (i) complying with the requirements of the Act with respect to accounting records and the preparation of accounts. (li) preparing a¢untS in accordance with the provisions appIlble to companies subject to the small companies, regime Approved by the Trustees on:_ And signed on their behalf by'.- Trustse 31.jzs
LIGHT FOR CHILDREN LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30 2024 1 ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of the financial statements are set out below. Basis of accounting The accounts have been prepared on a going concem basis, in accordance with the historical cost convention and comply with the Statement of Recommended Practice "Accounting and Reporting by Charities 2015 (FRSSE)" Fund accounting General funds are available at the discrets'on of the directors in furtherance of the general objectives of the company. Designated funds are those set aside by the directors for specific purposes and may be released to general funds at their discretion. Restricted funds are funds subject to specific restrictions and conditions imposed by fiJnders or by the purpose of the grant. Details of the balances on restricted funds are given in the notes to the financial statements. Incomlng resources Income is recognised in the accounting period in which it is receivable, except in the following circumstances, when the income is deferred and included in creditors.. Where the income relates to a tUre accounting period Where some of the tenxs and conditions of the grant have not been met, including the incurring of expenditure and the grant conditions are such that un8pent grant must be refunded. Income includes grants in respect of revenue and capital items. Expendlture Costs are defined as follows: Costs of generating funds Include those costs associated with attracting voluntary income and in applying for new funding and sponsorship. Charitable expenditure The costs of the development and delivery of the charitable activities. Governance costs The costs associated with meeting the constitLrtional and statutory requirements of the Charity including fees for external scrutiny of the accounts and costs linked to the strategic rnanagement of the charity.
LIGHT FOR CHILDREN LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30 2024 Unrastri¢ted Restricted Total 2024 2024 2024 Total 2023 2 DONATIONS Donations received from groups and organisations Donations received from individuals Tax refund from Gift-aid scheme 1.870 3,029 4.270 820 4,899 10.834 2,248 5,190 11,062 2,561 18.813 1,428 3 FUNDRAISING INCOME Concerts & coffee mornings Quiz night Garden party Other 1,301 429 1,301 429 850 450 860 760 2,920 93 1.823 93 1.823 4 GRANTS PAID Romanian Aid Foundation S CHARITABLE EXPENDITURE Services to beneficiaries Ukrainian refugees Helen & Costel personal expenses Helen's savings plan Insurance Bank charges relating to overseas transfers 15,425 15,425 16,803 112 6,754 1,125 311 115 6,970 1,125 6,970 1,125 327 105 327 106 6 CHARI ADMIN Charity administration costs 472 472 472 472 967 967 7 NET INCOMING RESOURCES FOR THE YEAR This is Stated after charging.. 2024 2023 Independent Examinerfs fees Trustees expenses & remuneration Trustees are entitled to daim out of pocket expenses but during the year no such claims were received 8 DEBTORS 2024 2023 Prepaid Insurance Gift aid claim outstanding 336 947 1,283 327 1,224 1,551
LIGHT FOR CHILDREN LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30 2024 2024 2023 9 Bank & cash balances Held in UK banks Held in Romanian bank or cash 10.321 14,673 10,321 14,673 10 STATEMENT OF FUNDS Balance Balance 30111912024 0111012023 Income ExndItur• Trdnsfers Unreslrfcted Funds: General reserves 15,857 11,685 (16,329) (549) 10.664 15,857 16.329 549 11,685 10,664 Restricted Funds: Helen & Costel personal expenses Helen's savings plan Ukranian reftjgees Charity Administration 258 109 7,004 1,115 (6,970) {1,125) 504 45 796 144 367 8,119 8,095 549 940 Total Fund8 Re8trlcted fund8 - Hèlèn & Costel'8 personal oxpon8es and 8avlng$ plan Donations are reiVed regularly for the purpose of providing support spèufically to Helen & Cogtel Cosman, including covering the cost of flights to the UK. holidays. personal items and to subsidi$e their living costs in Romania. t)onalions are p8id over to Helen and Costel monlhly. The balance at the year end represents the donations rerAived in the final month togethér with gift aid claims for the period lo September. and these will be paid over in the new financlal year. During the year donations were made specifically to support a savings plan for Helen, and this will be paid over when she has established a suitable investment vehicle. Restrlctsd funds - Charfty Admlnlgtrallon The Trustees of the Charity are committed to the idea that wherever possible general donations lo the charity should nol be used to fund administration. For that reason they each make a specific personal cash donation every year which is héld in a restricted fund to be used for Chanty Govemance and Admin costs. In addition they make in-kind donation8 of items Such ag Stationary, stamps and thè cost of the just giving website 11 ANALYSIS OF NET ASSETS BETWEEN FUNDS Fund balances at September 30 2024 are represented by:_ Unr•$trl¢ted Fund8--- Goneral Dosignatsd Restrictsd Funds Funds funds Total Bank Balances Prepaid Insurance Gift Aid debtor 9,720 336 608 601 10,321 336 947 339 940 12 TAXATION The Company is a registered charity and is entitled to claim annual exemption from UK corporation tax under s505 ICTA 1988