Registered number: 07700933 Charity number: 1146590
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee) UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
LIGHT PROJECT PRO INTERNATIONAL
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charitable company, its Trustees and | 1 |
| Advisers | |
| Trustees' Report | 2 - 5 |
| Trustees' Responsibilities Statement | 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 - 19 |
LIGHT PROJECT PRO INTERNATIONAL
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022
| Trustees | Micheline Ngongo, Chairman |
|---|---|
| Kalemba Nzola | |
| Patricia Elesheku | |
| Jeremy Corbyn | |
| Ulrike Schmidt | |
| Valentin Molish Yombo Djema | |
| Cyrille Dampare | |
| Kelwyn Williams | |
| Helen Paterson | |
| Company registered number 07700933 Charity registered number 1146590 Registered office 16 Great Queen Street Covent Garden London WC2B 5AH Accountants Blick Rothenberg Limited Chartered Accountants 16 Great Queen Street Covent Garden London WC2B 5AH Bankers National Westminster Bank Plc PO Box 12258 1 Princes Street London EC2R 8BP |
Page 1
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee) TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their annual report together with the financial statements of the charitable company for the year 1 April 2021 to 31 March 2022. The Annual Report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charitable company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The charitable company's objectives are to bring together families and volunteers to improve the educational opportunities of local communities, particularly in relation to people at risk of being socially marginalised. We aim to promote social inclusion and thus everyone is welcome to take part in our projects.
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Page 2
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Achievements and performance
a. Main achievements of the charitable company
Here at Light Project Pro International we aim to promote social inclusion and thus everyone is welcome to take part in our projects. Our vision is to help the deprived communities targeted by offering education, skills and training to give them the means to increase their life chances. We continue to place young people at the forefront of our activities to try and create a strong and lasting foundation that will serve them into adulthood. Not just by equipping them with the knowledge and skills but also the personal, social and physical development they will need to succeed in life. As a consequence of this we have been instrumental in helping many to achieve better exam results than ever before and in doing so set them on the path to further and higher education and by doing this we widen their social horizons and hugely improve their job opportunities.
In the 2021/22 year we were finally able to open the doors to our new home at The Exchange. We have been working on preparing the building to hold classes, projects and events upon the easing and removal of the Covid-19 restrictions that were in places when we moved in. We removed all the old furniture that had been left by previous tenants and setup all the IT infrastructure and classes rooms to be able to begin face to face work as soon as possible. We also purchased new more flexible furniture, which allows us to quickly change the setup of the larger spaces to enable us to put on a wide array of different activities and projects.
The food bank remained open throughout the lockdowns and the need from residents was still apparent afterwards. Several people were still isolating after the restrictions began to be lifted as they were still deemed vulnerable, so we continued the delivery of the food parcels. We also didn’t see a drop in users attending the food bank and numbers were fairly steady throughout the year.
Towards the end of the lockdown periods we ran a small but successful trial project called Global Skills. It has developed into a partnership with the DWP to run an employment project for 18 to 24 year olds. It supports young people through the CV, job search, application & interview process, while also working on their confidence and highlighting their talents. It has also developed into an idea of providing a more relaxed environment for the young people to meet with the DWP, so they can sit down with their advisor without the rush and the noise of some of the local Job Centres. We have found that in doing this, some of the young people have opened up more and we have learned more about some of the challenges they face, which we are then able to help address or sign post them to those that can provide the more specific help.
Our classes and homework club have proven popular as people wanted to start mixing again. We ran the first face to face ESOL classes in Islington with the help of LBI’s Adult Community Learning team. We also arranged arts & crafts classes and exercise classes at the request of our local residents, which have being seeing their attendance numbers steadily increase as the year progressed.
The Mission Statement of Light Project Pro International (LPPI) is to work in partnership with other key agencies and mainstream providers to offer a range of services to residents of Islington and surrounding boroughs. For example some of these key agencies with whom we have been working are: Local schools children, Caledonian Ward Old People's Homes, BBC Children in Need, Kurdish Community Association, Algerian Community, Cameroon Community Group, Somali Community Association, Congolese Refugee groups, Arsenal Community,' Race Equality Foundation, DWP, Initiatives for Change, Octopus Community Network, Help on Your Doorstep, London Community Trust, TUC, Caledonian Employment Hub, Catch 22, Westminster Kingsway College and City and Islington College. We would like to thank all of these for their support.
Page 3
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Financial review
During the period, the charitable company continued to rely upon donations and grants for its income, with total incoming resources of £151,095 (2021: £104,825). Governance costs totalled £5,544 and included independent examiners fees and legal and professional fees.
The charitable company recorded a net surplus of £7,178 (2021: £31,538) which resulted in reserves at the yearend of £29,694 (2021: £22,516). It is the policy of the charitable company that reserves which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charitable company’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The principal funding sources for the charitable company are currently by way of grants from various organisations. We would like to thank the following for their support through the year:
Arnold Clark Community Fund, BBC Children in Need, CCLORS, City Bridge Trust, DWP, Islington United Charities, London Borough of Islington, Percy Bilton Charity, The Astor Foundations, Waitrose, Tesco, The Felix Project, Edible London & Fairshare.
c. Risk management
The trustees have assessed all the major risks to which the charitable company is exposed, and are satisfied that systems are in place to reduce exposure to the major risks.
d. Plans for the future
The trustees are going to create a new business plan to continue moving Light Project Pro International forward to better serve the people of our community. This takes into account sustainability planning for the new building and expansion of the charitable company's projects and staff capacity.
Page 4
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Structure, governance and management
a. Constitution
The charitable company is a company limited by guarantee governed by its rules set out in its Memorandum and Articles of Association. It was registered with the Charity Commission on 26 March 2012.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Micheline S Ngongo (Chairperson) Kalemba Nzola Patricia Elesheku The Rt. Hon. Jeremy Corbyn Ulrike Schmidt Valentin Molish Yombo Djema Cyrille Dampare Kelwyn Williams Helen Paterson
b. Methods of appointment or election of trustees
The trustees are appointed in accordance with the terms of the governing document. The trustees meet regularly, as needed, to consider the charitable company's recruitment needs.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the charitable company and guarantee to contribute £1 in the event of a winding up.
c. Induction and training
Induction and training of the trustees is undertaken on an informal basis. All trustees are kept informed at meetings of their duties and obligations under the law in addition to their proper conduct.
Approved by order of the members of the board of trustees and signed on their behalf by:
Micheline Ngongo Trustee
Date:
Page 5
LIGHT PROJECT PRO INTERNATIONAL
(A Company Limited by Guarantee)
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022
The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 6
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022
Independent Examiner's Report to the Trustees of Light Project Pro International ('the charitable company')
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2022.
Responsibilities and Basis of Report
As the trustees of the charitable company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charitable company's trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for my work or for this report.
Signed:
Dated:
Christopher Shepherd FCA
Blick Rothenberg Limited Chartered Accountants 16 Great Queen Street Covent Garden London WC2B 5AH
Page 7
LIGHT PROJECT PRO INTERNATIONAL
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Total income Expenditure on: Charitable activities 5 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2022 £ 148,843 2,252 151,095 143,917 7,178 19,516 7,178 26,694 |
Unrestricted funds 2022 £ - - - - - 3,000 - 3,000 |
Total funds 2022 £ 148,843 2,252 151,095 143,917 7,178 22,516 7,178 29,694 |
As restated Total funds 2021 £ 104,825 - 104,825 73,287 31,538 (9,022) 31,538 22,516 |
|---|---|---|---|---|
The Statement of Financial Activities (Incorporating Income and Expenditure Account) includes all gains and losses recognised in the year.
The notes on pages 10 to 19 form part of these financial statements.
Page 8
REGISTERED NUMBER: 07700933
LIGHT PROJECT PRO INTERNATIONAL
(A Company Limited by Guarantee)
BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2022
| Note Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds |
500 40,930 41,430 (16,974) |
2022 £ 5,238 5,238 24,456 29,694 29,694 26,694 3,000 29,694 |
- 32,527 32,527 (12,163) |
As restated 2021 £ 2,152 |
|---|---|---|---|---|
| 2,152 20,364 |
||||
| 22,516 | ||||
| 22,516 | ||||
| 19,516 3,000 |
||||
| 22,516 |
The charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the charitable company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
Micheline Ngongo
Trustee Date:
The notes on pages 10 to 19 form part of these financial statements.
Page 9
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. General information
Light Project Pro International is a private company limited by guarantee incorporated in England and Wales. The registered office is 16 Great Queen Street, Covent Garden, London, WC2B.5AH
The financial statements are presented in Sterling (£).
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Light Project Pro International meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future being a period of at least twelve months from the date of approval of these financial statements. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3 Income
All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 10
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies (continued)
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
Fixtures and fittings
- 25% reducing balance
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Financial instruments
The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 11
LIGHT PROJECT PRO INTERNATIONAL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| 3. Income from donations and legacies Donations Grants Grants 4. Income from charitable activities User fees 5. Analysis of expenditure on charitable activities Direct costs |
Restricted funds 2022 £ 2,252 |
Restricted funds 2022 £ 839 148,004 148,843 Restricted funds 2021 £ 104,825 Total funds 2022 £ 2,252 Restricted funds 2022 £ 143,917 |
Total funds 2022 £ 839 148,004 148,843 |
|---|---|---|---|
| Total funds 2021 £ 104,825 |
|||
| Total funds 2021 £ - |
|||
| Total 2022 £ 143,917 |
Page 12
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
5. Analysis of expenditure on charitable activities (continued)
(continued)
| Restricted | ||
|---|---|---|
| funds | Total | |
| 2021 | 2021 | |
| £ | £ | |
| Direct costs | 73,287 | 73,287 |
6. Analysis of expenditure by activities
| Direct costs Direct costs |
Activities undertaken directly 2022 £ 138,373 Activities undertaken directly 2021 £ 66,093 |
Support costs 2022 £ 5,544 Support costs 2021 £ 7,194 |
Total funds 2022 £ 143,917 |
|---|---|---|---|
| Total funds 2021 £ 73,287 |
Page 13
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Depreciation Rent and rates Cleaning Repairs and maintenance Printing, postage and stationery Telephone Computer costs Travel Events Activities materials Catering Bank charges Advertising and promotions Subcontractors General office expenses Insurances Staff training Equipment purchase Examination costs |
Direct costs 2022 £ 87,211 1,746 10,242 1,225 3 (1,259) 2,828 339 1,877 843 7,535 3,872 71 711 14,997 2,536 898 504 2,152 42 138,373 |
Total funds 2022 £ 87,211 1,746 10,242 1,225 3 (1,259) 2,828 339 1,877 843 7,535 3,872 71 711 14,997 2,536 898 504 2,152 42 138,373 |
|---|---|---|
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LIGHT PROJECT PRO INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
(A Company Limited by Guarantee)
6. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Depreciation Rent and rates Cleaning Repairs and maintenance Printing, postage and stationery Telephone Computer costs Travel Events Advertising and promotions Subcontractors General office expenses Staff training |
Direct costs 2021 £ 46,930 717 439 693 1,158 2,091 1,793 2,980 1,059 3,235 46 3,664 428 860 66,093 |
Total funds 2021 £ 46,930 717 439 693 1,158 2,091 1,793 2,980 1,059 3,235 46 3,664 428 860 66,093 |
|---|---|---|
Page 15
LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Accountancy Legal and professional Accountancy Legal and professional |
Direct costs 2022 £ 2,316 3,228 5,544 Direct costs 2021 £ 1,920 5,274 7,194 |
Total funds 2022 £ 2,316 3,228 5,544 |
|---|---|---|
| Total funds 2021 £ 1,920 5,274 7,194 |
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £2,160 (2021 - £1,920).
8. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2022 £ 82,868 2,615 1,728 87,211 |
2021 £ 44,468 2,287 175 |
|---|---|---|
| 46,930 |
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LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
8. Staff costs (continued)
The average number of persons employed by the charitable company during the year was as follows:
| 2022 No. Employees 4 No employee received remuneration amounting to more than £60,000 in either year. |
2021 No. 4 |
|---|---|
9. Trustees' remuneration and expenses
During the year, no trustee received any remuneration or other benefits (2021 - £NIL). During the year, no trustee expenses have been incurred (2021 - £NIL).
10. Tangible fixed assets
| Cost or valuation At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Fixtures and fittings £ 14,668 4,832 |
|---|---|
| 19,500 | |
| 12,516 1,746 |
|
| 14,262 | |
| 5,238 | |
| 2,152 |
Page 17
LIGHT PROJECT PRO INTERNATIONAL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
11. Debtors
| Due within one year Trade debtors |
2022 £ 500 500 |
2021 £ - |
|---|---|---|
| - |
12. Creditors: Amounts falling due within one year
| Bank overdrafts Other taxation and social security Other creditors Accruals and deferred income |
2022 £ 30 11,288 3,496 2,160 16,974 |
2021 £ - 5,548 4,695 1,920 |
|---|---|---|
| 12,163 |
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LIGHT PROJECT PRO INTERNATIONAL (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
13. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Restricted funds Restricted Funds - all funds Total of funds Statement of funds - prior year Unrestricted funds General Funds Restricted funds Restricted Funds - all funds Total of funds |
As restated Balance at 1 April 2021 £ 3,000 19,516 22,516 As restated Balance at 1 April 2020 £ 3,000 (12,022) (9,022) |
Income £ - 151,095 151,095 Income £ - 104,825 104,825 |
Expenditure £ - (143,917) (143,917) Expenditure £ - (73,287) (73,287) |
Balance at 31 March 2022 £ 3,000 |
|---|---|---|---|---|
| 26,694 | ||||
| 29,694 | ||||
| As restated Balance at 31 March 2021 £ 3,000 |
||||
| 19,516 | ||||
| 22,516 |
14. Related party transactions
The charitable company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charitable company at 31 March 2022.
15. Prior year adjustment
During the preparation of the financial statements for the year it became apparent that the charitable company's disclosed cash at bank and in hand had historically been overstated by £30,969. This error has been retrospectively adjusted resulting in a reduction in restricted funds as at 1 April 2020 of £30,969.
Page 19