LOVE ZIMBABWE Balance Sheet For the year ended 30 September 2024 Notes 2024 2023 FIXED ASSETS CURRENT ASSETS Cash at Bank Debtors 7,437 3,320 Creditors . amounts falling due within one year NET CURRENT ASSETS 7,437 3,320 Total ASSETS LESS CURRENT LIABILITIES 7.437 3,320 CAPITAL AND RESERVES Prolit and Loss Account 7,437 3,320 The Trustees are satisfied that the Company if entitled to the exemption from audit conferred by Section 477 of the Companies Act 2006 relating to small companies. The Trustees responsibilities: l. The members have not required the Company to obtain an audit of it Financial Statements for the year ended 30 September 2023 in accordance with section 476 of the Companies Act 2006. 2. The Trustees acknowledge thelr responsibillties for complying with the requirements of the Act In respect to accounting records and the preparation of accounts, and 3. Preparing accounts In accordance with the provisions applicable to Companies and subject to the small companies regime. Trustee: Trustee.. Paullne McKenna Luclnda Walker The accounts were approved by the Board of Trustees on........... LOVE ZIMBABWE Income and Expenditure Account For the year ended 30 September 2024 Notes 2024 2023 Income 54,581 13,637 Direct Costs 47,144 12,157 Gross prof it/llossl 7,437 1,480 Administrative expenses {Deficitl/Surplus on ordinary activities before taxation 7,437 1,480 Taxation (Def icit)/Surplus on ordinary actlvlties after taxation 7,437 1,480 Retained deficit brought forward -1,480 Total retained Surplus carried forward 7,437 The Income and Expenditure Account contains all the gains and losses recognised in the current and proceeding year and the surplus/{deficitl retained in these years represents the only movement in shareholders funds. LOVE ZIMBABWE Income and Expenditure Account For the year ended 30 September 2024 2024 2023 INCOME RECEIVED Income from students Legacv Grants and Donations Gift Aid Fundraisi ng events 23,162 25,125 560 5,734 54,581 8,592 5,045 13,637 LESS EXPENDITURE Travel and vehicle expenses 1,050 799 Travel costs Ito Zimbabwel 2,243 Project costs 30,084 6,395 Trustee costs 588 Wages 5,640 4,250 Postage, printing and stationerv Rebranding 61 233 Premises costs 5,000 Venue and entertainment fees 100 Telephone and internet 1220 480 Companies House and banking Depreciation Equipment 1158 47,144 7,437 £ 12,157 1,480 IDEFICITI/SURPLUS INCOME OVER EXPENDITURE LOVE ZIMBABWE Notes to the Accounts For the Year Ended 30 September 2024 Accountlng Pollcles Basis of Accountlng A) The financial statements are prepared under the historical cost convention and in accordance with applicable Accounting Standards except as disclosed within these accounts. The Trustees have taken advantage of certain exemptions available to small companles under the Companies Act 1985 on the grounds that the Company qualified as a small companv. The accounts have been prepared using the accruals basis. Bl Turnover Turnover is the total amount, excluding value added tax, receivable by the Company relating to sales income, together with grants and donations received. Proflt on Ordlnary Actlvltles Before Taxatlon 2024 2023 Operatlng proflt Is stated after charging.. Adminlstrative expenses including.. Depreclation Trustees expenses 588 Taxatlon 2024 2023 UK Corporation Tax at 21% on the profit adjusted for tax purposes Debtors 2024 2023 Trade debtors Credltors 2024 2023 Trade creditors Loan Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected usef ul life, which in all cases is estimated at 4 years. Impairment reviews are carried out as and when evidence comes to light that the recoverable amount of a functional fixed asset is below its net book value due to damage, obsolescence or other relevant factors. Offlce Equlpment Cost At l October 2023 Additions At 30 September 2024 190 190 Accumulated Depreclatlon At l October 2023 Charge for the year At 30 September 2024 80 80 160 Net book value At 30 September 2023 At 30 September 2024 LOVE ZIMBABWE Independent examiner's report to the trustees For the Year Ended 30 September 2024 I report on the accounts of the company for the year ended 30 September 2024. Respective responslbllltles of trustees and examlner The trustees {who are also the directors of the company for the purposes of company law} are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charlty is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act; and, to State whether partlcular matters have come to my attention. Basls of Independent examlner's report My examination was carried out in accordance wlth the general Dlrections given by the Charity Commission. An examination Includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concernin8 any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and falr view, and the report Is limited to those matters set out In the statement below. Independent examlner's statement In connection with my examination, no matter has come to my attention: 111 which gives me reasonable cause to believe that in any material respect the requirements,. to keep accountlng records in accordance with section 386 of the Companies Act 2006,. and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met,, or 121 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the a_c_counts to be reached. Date: Slgned: Mark Baines ACMA, 7 Coopers Yard, Curran Road, Cardiff