Company registration number: 07700933 Charity registration number: 1146590
Light Project Pro International
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2025
Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Light Project Pro International
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 to 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 19 |
Light Project Pro International
Reference and Administrative Details
Trustees Kelwyn Williams Cyrille Dampare Helen Paterson Jeremy Corbyn Micheline Ngongo Molisho Yombo-Djema Ulrike Schmidt Njok Jeng Charity Registration Number 1146590 Company Registration Number 07700933 Registered Office The Exchange Watkinson Road Islington London N7 8DE Independent Examiner Eva Stevens, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Page 1
Light Project Pro International
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2025.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: Kelwyn Williams Cyrille Dampare Helen Paterson Jeremy Corbyn Micheline Ngongo Molisho Yombo-Djema Ulrike Schmidt Njok Jeng (appointed 14 December 2024)
Structure, governance and management
Nature of governing document
The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 10/12/2011.
Objectives and activities
Objects and aims
To promote charitable activity in the fields of education of the general public, preserving and protected physical and mental health, relief of need.
The relief of persons who are in conditions of poverty, sickness among refugees and asylum seekers, by providing such persons with advice, representation, translation and interoperating services and other assistance in matters such as immigration, welfare benefits, housing, health, education, training and employment, in order that they may participate fully in society.
To provide recreation facilities, sport, leisure time activities, arts and culture occupation with the object of improving the conditions of life of those individuals who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty, financial hardship or social and economic circumstances.
We provide adult learning classes in English, Maths and ICT. Homework club for children, employability project, exercise classes and activities for older people. We support other local charities that have similar objectives and provide further benefit to the residents. We also provide advice and information in regards to housing, benefits, utilities, employment and signposting when specialist help is required. We also run a food bank that redistributed surplus and purchased food for those experiencing food poverty.
Public benefit
The projects are all designed to tackle education, mental wellbeing and physical health and or support people through economic troubles. They are open to all, unless a funder has specified a specific target age range.
Page 2
Light Project Pro International
Trustees' Report
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
In the financial year of 2024/25, we saw an average of 600 people through the door each week. We have noticed an increase year on year since we moved to the Exchange. There has also been a noticeable increase in the demand for the services.
Food bank
With the closure of several food banks in local area, and with some changing the way they operate (becoming co-op's or pantries), we have seen the average weekly attendance almost double. Thankfully our fantastic suppliers have been fantastic in helping us meet the demand. We would like to thank Food Bank Aid, The Felix Project and numerous local shops that have help feed the most vulnerable in the area.
21st Century Skills
As part of LPPI's partnership with the DWP, we are the designated youth hub for Islington. This involves providing a space for young people aged between 16 and 24, to meet with the job coaches and have more time to discuss their futures in a more relaxed environment than the job centres. As part of the partnership we run our own employability project that provides further support to the young people. In the 2024/25 financial year the project helped 100 young people move closer to employment, with 23 obtaining jobs that provide enough hours to move off of universal credit.
Stay & Play
In December we spoke with several parents, who were looking for something to do with their children on Monday mornings. Using community organising, we worked with the group to arrange a stay and play. The project is volunteer lead and a small contribution is collected towards drinks and snacks for the children. The project is attended by an average of 15 parents/carers and around 30 children each session.
Older Peoples Services
We continued the popular club on Tuesdays & Thursdays. The Chair exercise class continued to average at capacity of 30 people. We hope to secure funding to offer additional classes, so that more people can benefit in the future. We also ran Tea, Tech & Biscuits sessions (TTaB) with our partners PPCP. These provide cross-generational work as PPCP young training IT technicians, provide one-to-one support with older people with any issues with their mobiles, tables or laptops (and even the odd desktop computer). It has proved very successful with the TTaB sessions now running in several other community centres and has even stretch into other boroughs. We have early plans to develop this further into a TTaB club that will combine several services and provide more of a one-stop-shop.
Information & Advice
In the year we saw a large increase in demand with people coming to us for help with housing, benefits and utilities issues. We believe this is part of what might be a long tail to the cost of living crisis. In response, we joined the Fed & Supported program, which provided training from the Octopus Network, Volunteers from Voluntary Action Islington, and one-to-one resident support sessions from Help On Your Doorstep, which ran alongside our food bank. It was very successful in helping the residents, expanding our capacity to help as well as providing staff here valuable information that they can use in the future for residents in need. Although the funding for the project ended, we very much hope that they will be successful in securing further funding as we believe it provided a massive benefit to the local residents.
Page 3
Light Project Pro International
Trustees' Report
Homework Club
In the year we saw a small increase in the attendance to the club. While it is still not back to pre-pandemic levels of attendance, we are seeing a steady increase, so hope to further develop the relationships with the local schools to widen the net of our advertising. During the year the children also had enrichment sessions at the end of each day, they also had several trips out to museum and to the theatre, to provide experiences they may not have received otherwise.
Adult Learning
We continued our partnership with Adult Community Learning and provided an average of 20 classes a week in ESOL, English, Maths & ICT over the year.
We would like to thank all of the service users for their continued support.
Financial review
During the period, the charitable company continued to rely upon donations and grants for its income, with total incoming resources of £155,835 (2024: £133,901). Governance costs totalled £7,931 and included independent examiners fees and legal and professional fees.
The charitable company recorded a net deficit of -£5,950 (2024: -£5,056). 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 consider 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 was not maintained during the year and, as mentioned elsewhere in this report, measures taken in the post balance sheet period have resulted in a subsequent increase in reserves.
Policy on reserves
It is important that Light Project Pro International is prepared for periods of difficulty, and can continue to operate during such times. As such the following reserves policy has been created to maintain a standard of operation.
Current Policy
A formal policy on reserves was agreed at the 05/12/2020 meeting of the Trustees.
It states:
The trustees have set a reserves policy which requires:
•Reserves must be maintained at a level which ensures that the LPPI core activities could continue during a period of unforeseen difficulty.
•A proportion of reserves to be maintained in readily realisable form.
The calculation of the required level of reserves is an integral part of the organisation’s planning, budget and forecast cycle.
It takes into account:
•Risks associated with each stream of income and expenditure being different from that budgeted
•Planned activity level
•Organisation’s commitments
The reserve level will be monitored and reviewed annually.
Page 4
Light Project Pro International
Trustees' Report
Risk Assessment
The level of reserves will be set at an amount derived from the annual budget. The annual budget will be reviewed at least once during the year, the results of which may increase the level of reserves, but will not decrease this level of reserves until reviewed under the next annual budget.
Therefore the risk assessments will be carried out during financial reviews performed once a month, to highlight any shortfall or forecasted shortfall in funding against the association’s operational costs. This will allow the reserves to be conserved during the year, unless it is decided by the Trustees (based on the monthly finance reports) that a transfer should be released for use.
Reserves Level
As a charity we aim to have 25% of our annually expected expenditure available in our reserves.
This currently relates to a figure of £39,000 (25%); which is to be unrestricted funding allowing us to subsidise any project/core costs that is running through a prolonged financial difficulty, and that is deemed essential to LPPI agreed level of commitments. This level will also cover any contracts currently applicable in the event of the current account becoming insolvent.
Principal risks and uncertainties
Having historically been solely reliant on grant funding and donations, the charity is currently going through a transition. With the current grant climate becoming more and more difficult, with more people contending for the same pots of funding. Trusts and grant providers are closing or pausing funding to redefine their funding terms. It is vital that the charity seeks more sustain able funding, with the hope that this can help generate unrestricted funding that can start to build the charities reserves and overall financial resilience.
Page 5
Light Project Pro International
Trustees' Report
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Statement of Responsibilities
The trustees (who are also the directors of Light Project Pro International 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
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 the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
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 proper accounting records that can 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Micheline Ngongo Trustee
Page 6
Light Project Pro International
Independent Examiner's Report to the trustees of Light Project Pro International ('the Company')
Independent examiner’s report to the trustees of Light Project Pro International ('the Company')
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also 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 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 your charity’s accounts as 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 that in any material respect:
-
accounting records were not kept in respect of the 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.
......................................
Eva Stevens, BSc, CPFA, employee of Community Accounting Plus member of the Chartered Institute of Public Finance and Accountancy (CIPFA)
Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Date:.............................
Page 7
Light Project Pro International
Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 2 Charitable activities 3 Total income Expenditure on: Charitable activities 5 Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 11 |
Unrestricted funds £ 73,604 23,140 96,744 (92,911) (92,911) 3,833 (14,653) (10,820) 3,000 (7,820) |
Restricted funds £ - 59,091 59,091 (63,818) (63,818) (4,727) 14,653 9,926 (8,056) 1,870 |
Total 2025 £ 73,604 82,231 155,835 (156,729) (156,729) (894) - (894) (5,056) (5,950) |
Total 2024 £ - 133,901 |
|---|---|---|---|---|
| 133,901 | ||||
| (141,088) | ||||
| (141,088) | ||||
| (7,187) - |
||||
| (7,187) 2,131 |
||||
| (5,056) |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 11.
The notes on pages 11 to 19 form an integral part of these financial statements. Page 8
Light Project Pro International
Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
These are the figures for the previous accounting period and are included for comparative purposes
| Note Income and Endowments from: Charitable activities 3 Total income Expenditure on: Charitable activities 5 Total expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 11 |
Unrestricted funds £ 17,790 17,790 (17,790) (17,790) - - 3,000 3,000 |
Restricted funds £ 116,111 116,111 (123,298) (123,298) (7,187) (7,187) (869) (8,056) |
Total 2024 £ 133,901 |
|---|---|---|---|
| 133,901 | |||
| (141,088) | |||
| (141,088) | |||
| (7,187) | |||
| (7,187) 2,131 |
|||
| (5,056) |
The notes on pages 11 to 19 form an integral part of these financial statements. Page 9
Light Project Pro International
(Registration number: 07700933) Balance Sheet as at 31 March 2025
| Note Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank and in hand 9 Creditors: Amounts falling due within one year 10 Net current liabilities Net liabilities Funds of the charity: Restricted income funds Restricted funds 11 Unrestricted income funds Unrestricted funds Total funds 11 |
2025 £ 2,209 15,901 6,711 22,612 (30,771) (8,159) (5,950) 1,870 (7,820) (5,950) |
2024 £ 2,946 15,942 5,044 |
|---|---|---|
| 20,986 (28,988) |
||
| (8,002) | ||
| (5,056) | ||
| (8,056) 3,000 |
||
| (5,056) |
For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 8 to 19 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Micheline Ngongo Trustee
The notes on pages 11 to 19 form an integral part of these financial statements. Page 10
Light Project Pro International
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
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 notes.
Going concern
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Exemption from preparing a cash flow statement
Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Page 11
Light Project Pro International
Notes to the Financial Statements for the Year Ended 31 March 2025
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Fixture & Fittings | 25% reducing balance |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Page 12
Light Project Pro International
Notes to the Financial Statements for the Year Ended 31 March 2025
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
2 Income from donations and legacies
| Donations and legacies; Donations from individuals Grants, including capital grants; Government grants Grants from other charities |
Unrestricted funds General £ 548 59,955 13,101 73,604 |
Total 2025 £ 548 59,955 13,101 73,604 |
Total 2024 £ - - - |
|---|---|---|---|
| - |
Page 13
Light Project Pro International
Notes to the Financial Statements for the Year Ended 31 March 2025
3 Income from charitable activities
| User fees and room hire Granst & donations |
Unrestricted funds General £ 23,140 - 23,140 |
Restricted funds £ - 59,091 59,091 |
Total 2025 £ 23,140 59,091 82,231 |
Total 2024 £ 17,790 116,111 |
|---|---|---|---|---|
| 133,901 |
4 Grants & donations
| 4 Grants & donations |
|||
|---|---|---|---|
| The London Borough of Islington Cripplegate Foundation DWP Good Things Foundation Islington United Charities - vouchers Octopus Community Network General donations |
Unrestricted funds £ 59,955 11,001 - 1,000 450 650 548 73,604 |
Restricted funds £ 7,725 - 51,366 - - - - 59,091 |
Total £ 67,680 11,001 51,366 1,000 450 650 548 |
| 132,695 |
Page 14
Light Project Pro International
Notes to the Financial Statements for the Year Ended 31 March 2025
5 Expenditure on charitable activities
| Activities & trips Cleaning Depreciation Equipment, repairs & renewals Advertising Hospitality/refreshments Insurance Legal & professional General office expense Premises maintenance Printing, postage & stationery Publications & subscriptions Rent & services Sub-contract Teachers Staff training Telephone cost Travel expense Volunteer expenses Wages, NI & pension Bank charges |
Unrestricted funds General £ 2,669 1,432 737 1,324 130 228 826 7,898 637 178 4,887 45 15,000 - - 2,465 2,387 817 51,129 122 92,911 |
Restricted funds £ 2,163 - - 589 127 499 - 32 113 - 29 - - 4,545 370 180 33 34 55,104 - 63,818 |
Total 2025 £ 4,832 1,432 737 1,913 257 727 826 7,930 750 178 4,916 45 15,000 4,545 370 2,645 2,420 851 106,233 122 156,729 |
Total 2024 £ 5,302 1,000 982 1,823 409 1,830 885 7,729 1,185 - 3,987 - 15,000 5,295 52 2,410 2,885 - 90,193 121 |
|---|---|---|---|---|
| 141,088 |
6 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2025 £ 101,382 2,826 2,025 106,233 |
2024 £ 86,678 1,998 1,517 |
|---|---|---|
| 90,193 |
Page 15
Light Project Pro International
Notes to the Financial Statements for the Year Ended 31 March 2025
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
2025 No Average number of employees 5
4 (2024 - ) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £2,025 (2024 - £Nil).
No employee received emoluments of more than £60,000 during the year.
7 Tangible fixed assets
| Cost At 1 April 2024 At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 8 Debtors Prepayments Accrued income Other debtors |
Furniture and equipment £ 19,500 19,500 16,554 737 17,291 2,209 2,946 2025 £ 1,860 7,836 6,205 15,901 |
Furniture and equipment £ 19,500 19,500 16,554 737 17,291 2,209 2,946 2025 £ 1,860 7,836 6,205 15,901 |
Total £ 19,500 19,500 16,554 737 17,291 2,209 2,946 2024 £ 1,530 10,634 3,778 |
|
|---|---|---|---|---|
| 19,500 | ||||
| 16,554 737 |
||||
| 17,291 | ||||
| 2,209 | ||||
| 2,946 | ||||
| 2025 £ 1,860 7,836 6,205 15,901 |
||||
| 15,942 |
Page 16
Light Project Pro International
Notes to the Financial Statements for the Year Ended 31 March 2025
9 Cash and cash equivalents
| Cash on hand Cash at bank 10 Creditors: amounts falling due within one year Trade creditors Other taxation and social security Other creditors Accruals 11 Funds Balance at 1 April 2024 £ Incoming resources £ Unrestricted funds General General Fund 3,000 96,744 Restricted funds Global Skills (8,056) 51,366 Food Hub - - Healthy Lives - 725 Homework Club - 7,000 Total restricted funds (8,056) 59,091 Total funds (5,056) 155,835 |
Resources expended £ (92,911) (56,172) (516) (2,000) (5,130) (63,818) (156,729) |
2025 £ 2,589 4,122 6,711 2025 £ 12,929 15,708 2,134 - 30,771 Transfers £ (14,653) 12,862 516 1,275 - 14,653 - |
2024 £ 2,768 2,276 |
||
|---|---|---|---|---|---|
| 5,044 | |||||
| 2024 £ - 12,638 14,428 1,922 |
|||||
| 28,988 | |||||
| Balance at 31 March 2025 £ (7,820) - - - 1,870 |
|||||
| 1,870 | |||||
| (5,950) |
The transfers from the General fund to the Food Hub, Global Skills and Healthy Lives funds are to cover the deficits on these activities.
Page 17
Light Project Pro International
Notes to the Financial Statements for the Year Ended 31 March 2025
The specific purposes for which the funds are to be applied are as follows:
Healthy Lives: Islington Council local investment fund for exercise classes for older people.
Homework Club: Islington council mother tongue and supplementary schools fund. For improving children's start to life and better understanding of school work.
Global Skills: This is an employment project for 18 to 24 year olds, run in partnership with the DWP.
Food Hub: Food Donations received from Food Bank Aid are restricted in that they must be given out to the public and not used in house at all.
| Balance at 1 April 2023 £ Unrestricted funds General General Fund 3,000 Restricted Global Skills (869) Total funds 2,131 12 Analysis of net assets between funds Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Incoming resources £ - 133,901 133,901 Unrestricted General £ 2,209 20,742 (30,771) (7,820) Unrestricted General £ 2,946 39,676 (28,988) 13,634 |
Resources expended £ - (141,088) (141,088) Restricted £ - 1,870 - 1,870 Restricted £ - (18,690) - (18,690) |
Balance at 31 March 2024 £ 3,000 (8,056) |
|---|---|---|---|
| (5,056) | |||
| 2025 Total funds £ 2,209 22,612 (30,771) |
|||
| (5,950) | |||
| 2024 Total funds £ 2,946 20,986 (28,988) |
|||
| (5,056) |
Page 18
Light Project Pro International
Notes to the Financial Statements for the Year Ended 31 March 2025
13 Fees payable to independent examiner
During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:
| Accounting Plus are analysed as follows: | ||
|---|---|---|
| Independent examination | 2025 £ 1,450 1,450 |
2024 £ - |
| - |
14 Taxation
The charity is a registered charity and is therefore exempt from corporation taxation.
15 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
16 Related party transactions
There were no related party transactions in the year.
Page 19