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 2023
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 - 20 |
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 2023
| Trustees | Micheline Ngongo, Chairperson |
|---|---|
| Helen Paterson | |
| Kelwyn Williams | |
| Jeremy Corbyn | |
| Ulrike Schmidt | |
| Valentin Molisho Yombo Djema | |
| Cyrille Dampare | |
| 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 C2R 8BP |
Page 1
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report together with the financial statements of the charitable company for the year 1 April 2022 to 31 March 2023. 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
(A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
LIGHT PROJECT PRO INTERNATIONAL
Objectives and activities (continued)
b. Main activities undertaken to further the charitable company's purposes for the public benefit
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.
2022/23 was a difficult year for many. Coming out of a pandemic and into a cost of living crisis meant that demand for many of our services increased. We would like to thank all the volunteers that helped during the year, who provided invaluable support to the projects and the staff team at LPPI.
We saw an increase in those attending our food bank. The grant from The Julia & Hans Rausing Trust was a huge help as it allowed us to 'top-up' donations received and so we were able to provide the dietary staples to those in need. With the cost-of-living crisis, there was a further increase in demand as well as people requiring support with paying their utilities bills. Several resident grants were available, but we also were lucky to have a volunteer who had worked in the energy sector meet with people to discuss their bills and make sure they were on the right tariff.
We continued our partnership with the DWP and delivered our 21century skills project which works one-to-one with young people (18 to 24) to improve their employability, tailor job searches and interview skills. It helped 30 young people into work. We also continued the Youth Employment Hub with the DWP; 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.
We would also like to thank LBI's Adult Community Learning team who have continued to put on incredibly valuable classes in ESOL, English & Maths to the local community.
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, Conglose 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
(A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
LIGHT PROJECT PRO INTERNATIONAL
Achievements and performance
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 £112,972 (2022: £151,095). Governance costs totalled £6,151 and included independent examiners fees and legal and professional fees.
The charitable company recorded a net deficit of £27,563 (2022: £7,718 surplus) which resulted in reserves at the year-end of £2,131 (2022: £29,694). It is the intended 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. Unfortunately as at 31 March 2023, reserves have fallen below this optimal level. Subsequent to the year end, the trustees have actively sought additional sources of income and have reduced certain expenditure with the aim of returning reserves to the aforementioned level during FY25.
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: Co-op Local Fund, Cripplegate Foundation, DWP, Islington Giving, Islington United Charities, London Borough of Islington, NHS, Octopus Community Network, Tesco/Groundworks, The Julia & Hans Rausing Trust, 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 charities projects and staff capacity.
Page 4
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
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 The Rt. Hon. Jeremy Corbyn Ulrike Schmidt Valentin Molish Yombo Djema Cyrille Dampare Kelwyn Williams
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 charity's recruitment needs.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the 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 2023
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 2023
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 2023.
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
-
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 2023
| 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 2023 £ 110,555 2,417 112,972 140,535 (27,563) 26,694 (27,563) (869) |
Unrestricted funds 2023 £ - - - - - 3,000 - 3,000 |
Total funds 2023 £ 110,555 2,417 112,972 140,535 (27,563) 29,694 (27,563) 2,131 |
Total funds 2022 £ 148,843 2,252 |
|---|---|---|---|---|
| 151,095 | ||||
| 143,917 | ||||
| 7,178 | ||||
| 22,516 7,178 |
||||
| 29,694 |
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 20 form part of these financial statements.
Page 8
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee)
BALANCE SHEET AS AT 31 MARCH 2023
| 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 liabilities / assets Total assets less current liabilities Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds |
12,829 12,806 25,635 (27,432) |
2023 £ 3,928 3,928 (1,797) 2,131 2,131 (869) 3,000 2,131 |
500 40,930 41,430 (16,974) |
2022 £ 5,238 |
|---|---|---|---|---|
| 5,238 24,456 |
||||
| 29,694 | ||||
| 29,694 | ||||
| 26,694 3,000 |
||||
| 29,694 |
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 20 form part of these financial statements.
Page 9
LIGHT PROJECT PRO INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
(A company limited by guarantee)
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
All 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.
Page 10
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
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.
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.
Page 11
LIGHT PROJECT PRO INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
(A company limited by guarantee)
2. Accounting policies (continued)
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.
3. Income from donations and legacies
| Donations Grants Donations Grants |
Restricted funds 2023 £ 220 110,335 110,555 Restricted funds 2022 £ 839 148,004 148,843 |
Total funds 2023 £ 220 110,335 |
|---|---|---|
| 110,555 | ||
| Total funds 2022 £ 839 148,004 |
||
| 148,843 |
Page 12
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 4. Income from charitable activities User fees User fees 5. Analysis of expenditure on charitable activities Summary by fund type Direct costs Direct costs |
Restricted funds 2023 £ 2,417 Restricted funds 2022 £ 2,252 Restricted funds 2023 £ 140,535 Restricted funds 2022 £ 143,917 |
Total funds 2023 £ 2,417 |
|---|---|---|
| Total funds 2022 £ 2,252 |
||
| Total 2023 £ 140,535 |
||
| Total 2022 £ 143,917 |
Page 13
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Analysis of expenditure by activities
| Direct costs Direct costs |
Activities undertaken directly 2023 £ 134,384 Activities undertaken directly 2022 £ 138,373 |
Support costs 2023 £ 6,151 Support costs 2022 £ 5,544 |
Total funds 2023 £ 140,535 |
|---|---|---|---|
| Total funds 2022 £ 143,917 |
Page 14
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee)
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 |
Direct costs 2023 £ 85,657 1,310 21,570 941 35 7,087 1,899 19 2,151 1,260 3,181 795 108 219 5,170 1,356 899 82 645 134,384 |
Total funds 2023 £ 85,657 1,310 21,570 941 35 7,087 1,899 19 2,151 1,260 3,181 795 108 219 5,170 1,356 899 82 645 |
|---|---|---|
| 134,384 |
Page 15
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
LIGHT PROJECT PRO INTERNATIONAL
(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 stationary Telephone Computer costs Travel Events Activities materials Catering Bank charges Advertising and promotions Subcontractors General office expenses Insurances Staff training Equipment purchase Examination costs Analysis of support costs Accountancy Legal and professional |
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 Direct costs 2023 £ 2,088 4,063 6,151 |
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 Total funds 2023 £ 2,088 4,063 6,151 |
|---|---|---|
Page 16
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee)
6. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
| Accountancy Legal and professional |
Direct costs 2022 £ 2,316 3,228 5,544 |
Total funds 2022 £ 2,316 3,228 |
|---|---|---|
| 5,544 |
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £2,160 (2022 - £2,160).
8. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 81,839 1,713 2,105 85,657 |
2022 £ 82,868 2,615 1,728 |
|---|---|---|
| 87,211 |
The average number of persons employed by the charitable company during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Employees | 4 | 4 |
No employee received remuneration amounting to more than £60,000 in either year.
Page 17
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| 9. Trustees' remuneration and expenses During the year, no trustee received any remuneration or other benefits (2022 - £NIL). During the year ended , no trustee expenses have been incurred (2022 - £NIL). 10. Tangible fixed assets Cost or valuation At 1 April 2022 At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 11. Debtors 2023 £ Due within one year Trade debtors 11,042 Other debtors 254 Prepayments and accrued income 1,533 12,829 |
Fixtures and fittings £ 19,500 |
|---|---|
| 19,500 | |
| 14,262 1,310 |
|
| 15,572 | |
| 3,928 | |
| 5,238 | |
| 2022 £ 500 - - 500 |
Page 18
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
12. Creditors: Amounts falling due within one year
| Bank overdrafts Other taxation and social security Other creditors Accruals and deferred income |
2023 £ - 11,855 13,657 1,920 27,432 |
2022 £ 30 11,288 3,496 2,160 |
|---|---|---|
| 16,974 |
Page 19
LIGHT PROJECT PRO INTERNATIONAL
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 - all funds Restricted funds Restricted Funds - all funds Total of funds |
Balance at 1 April 2022 £ 3,000 26,694 29,694 As restated Balance at 1 April 2021 £ 3,000 19,516 22,516 |
Income £ - 112,972 112,972 Income £ - 151,095 151,095 |
Expenditure £ - (140,535) (140,535) Expenditure £ - (143,917) (143,917) |
Balance at 31 March 2023 £ 3,000 (869) 2,131 Balance at 31 March 2022 £ 3,000 26,694 29,694 |
|---|---|---|---|---|
14. Related party transactions
The charitable company has not entered into any related party transactions during the year, nor are there any outstanding balances owing between related parties and the charitable company at 31 March 2023.
Page 20