**A company limited by guarantee Number 08605568 Charity No. 1156506**
**Report and Financial Statements**
**For the Year Ended**
**31 July 2024**
**31 July 2024**
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**A company limited by guarantee Number 08605568 Charity No. 1156506**
**Directors’/Trustees’ Report and Financial Statements for the Year Ended 31 July 2024.**
|Contents|Page|
|---|---|
|Reference and Administrative Information|3|
|Report of the directors and trustees|4-7|
|Statement of Financial Activities – Income and Expenditure|8|
|Balance Sheet|9|
|Notes forming part of the financial statements|10-13|
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# **A company limited by guarantee Number 08605568 Charity No. 1156506**
**Report of the Directors and Trustees For the year ended 31 July 2024.**
The directors and trustees present their report and financial statements for the year ended 31 July 2024.
## **Reference and Administrative Information**
**Charity Name:** LBC Lifeline Resource Limited **Charity registration number:** 1156506 **Company registration number:** 8605568 **Registered Office address:** 16 Livingstone Place Carver Street, Manchester M16 9BZ **Operational address:** 16 Livingstone Place Carver Street, Manchester M16 9BZ
## **Directors and Trustees**
The directors and trustees serving during the year were:
Dr Robert Nchoga Oenga – Director/Chair Mr Dennis Chisunka – Director Miss Sandra Brown Kyokunda – Director
## **Bankers**
The charity’s bankers are;
Santander Bank 10 The Mall Eccles Manchester M30 0EA Account Name: LBC Lifeline Resource Ltd Sort code: 09-01-28 Account number: 50328852
## **Structure and Governance**
The charity is registered as a limited Company under guarantee. The governing document is the Memorandum and Articles of association reflect charitable purposes and approved by companies
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## **A company limited by guarantee Number 08605568 Charity No. 1156506**
House on 26/03/2014. The initial subscribers to the memorandum and Articles of association are the company directors.
The application for registration as a charity was approved by the Charity Commission and the charity was registered on 02/04/2014. The charity is run by a team of three trustees.
The directors and trustees of the charity are responsible for the management of the charity’s affairs and meet regularly to review our objectives and plan activities to ensure they continually focus on the provision of public benefit.
## **Aims, objectives and activities**
## **Purposes and Aims**
The charity’s purposes as set out in the objects contained in the company’s memorandum of association are to:
- i. The prevention and relief of poverty in the Northwest England and East Africa (Kenya, Uganda, Tanzania, Burundi, Somalia, Rwanda and South Sudan) by providing or assisting in the provision of opportunities relating to the relief of poverty, unemployment, and the development of skills associated with improving employment prospects.
- ii. To develop the capacity and skills of the members of the socially and economically disadvantaged communities in North West England and East Africa (as defined above) in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.
## **Objectives and Main Activities**
We regularly refer to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing objectives and in planning our activities to ensure they are focused on providing benefit to the public. The following were our main objectives and activities to meet our charitable purposes during this first year of operation;
- **i. Advancement of learning, education and skills**
- a) We will continue to seek opportunities to offer courses in our premises ranging from 2 to 3 days focusing on developing transferable skills relevant to employment. The main sessions will cover;
- improving skills for employment and job search
- maintaining and improving health and wellbeing
- inspiring enterprise spirit and developing skills for business
- using computers for preparing basic documents for self and business
- Using the internet for online information search and communication including receiving and sending emails and accessing key websites using search engines.
- Planning, promotion and running a business activity successfully for individuals and groups
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**A company limited by guarantee Number 08605568 Charity No. 1156506**
## **Future:**
Our future activities will also focus on skills development, active job search, placements and enterprise development for those learners who complete the training. We will also provide support for those starting small businesses to help them run their businesses successfully and profitably.
## **ii. Relief of poverty**
The efforts have focused on promoting understanding of the importance of “working together” to address common social and economic issues facing communities. Our activities were aimed at creating awareness of the needs and opportunities available locally and the resources and capabilities resident in the individuals and communities to initiate positive actions to improve incomes and welfare.
## **Plans:**
The charity continues to seek and work with funding partners to sustain our charitable activities including;
- Continuing training on business skills to start small businesses as a viable alternative to employment.
- Developing opportunities for export and import. The charity promotes a project supporting small rural farmers in Kenya to market their tea in the UK and small businesses in the UK to find a product for trade as tea traders.
- Continuing with development and improvement of skills for employment to enable job seekers to progress to work.
## **iii. Promotion of opportunities for job search, gainful self-employment, enterprise development, work-based learning, social networking, mentoring and other community-based economic development activities.**
This objective is closely linked to the first objective on promoting learning and Education. Our activities during this year have focused on developing the tea project jointly with our funding partners. The project will be expanded to include;
- Importation and packaging of wholesale teas from Kenya and supporting a network of organic herbal tea growers and small tea packaging businesses in Kenya.
- linking the skills training with the enterprise development activities so that individuals can gain skills and access opportunities for gainful employment or self-employment
- Working with community groups and other charities to provide training and support for enterprise activities.
## **Financial Overview**
The principal funding sources for our activities during the year were designated grants, donations and sale of Kenya tea. The charity is grateful to the National Lottery Community Fund for a grant of £9,992 for community support activities during winter and spring of 2023.
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**A company limited by guarantee Number 08605568 Charity No. 1156506**
## **Our services**
Our charitable purpose is fighting poverty, unemployment and lack of skills and our charitable activities continue to be the provision of skills training for employment and business. We aim to improve skills, incomes and job prospects of people across borders and improving access to markets and business skills of individuals and small businesses.
Under the Tea project, we import packaged and wholesale teas from small scale rural farmers in Kenya and market them at fair prices in the UK and EU using combined marketing strategies. The project also promotes small businesses and contributes to securing employment and incomes.
Our services have also extended to supporting people who have been impacted by the COVID-19 pandemic and rising cost of living by sharing information and guidance to improve and sustain practices and lifestyles that promote long-term safety, health and wellbeing of people and communities.
## **Directors and trustees**
In conformity with the requirements of the Charity Commission for charities, the directors and trustees give their time voluntarily and received no benefits from the charity.
The directors of the company for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report, are set out on page 3.
In preparing the financial statements for the year, the directors and trustees have;
- followed the best practices and applied appropriate accounting policies consistently and,
- have maintained proper accounting records
- made judgements and estimates that are reasonable and prudent
- Safeguarded the assets of the charitable company and taken reasonable steps for the prevention and detection of fraud and other irregularities.
- Complied with the Companies Act 1985 and 2006 with regard to small companies.
- Complied with the Charities Act; Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005).
Director:
Dr Robert N. Oenga/Chair Signed: ______________
Date: ___________
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## **A company limited by guarantee Number 08605568 Charity No. 1156506**
||**Annual Accounts for the Period:**
**01/08/2023**
**To**
**31/07/2024**
**CC39a**
**Income and Expenditure**
**Notes**
**Unrestricted**
**Restricted**
**Total this**
**Total last**
**Fund**
**Fund**
**Year**
**Year**
**31/07/2024**
**31/07/2023**
**Incoming Resources/Income**
**£**
**£**
**£**
**£**
Designated Grants
2
-
19,990
19,990
10,000
General Grants & Donations
2
3,300
0
3,300
2,500
Training Fees
2,020
0
2,020
8,314
Tea Project Sales
-
13,511
13,511
12,149
**5,320**
**33,501**
**38,821**
**32,963**
**Total Expended/Expenditure**
Wages, salaries, Pension, NI
2,340
9,608
11,948
8,300
Rent, Rates and Insurance
283
422
705
501
Training facilitation
1,476
4,480
5,956
8,023
Travel & Transport
298
730
1,028
797
Telephone & Postage
137
420
557
378
Website maintenance
150
396
546
240
Marketing and Promotion
59
321
380
389
Bank charges and Interest
169
0
169
203
Mentoring and support
120
2,842
2,962
160
Printing and Stationery
89
294
383
151
Office running expenses
123
465
588
291
Tea Project Expenditure
0
3,872
3,872
5,671
Tea Purchases Less closing stock
0
10,156
10,156
7,037
**5,244**
**34,006**
**39,250**
**32,141**
**Net incoming (Outgoing)**
**resources**
76
-505
-429
822
Total Funds brought Forward
1,806
-857
949
127
**Balance Carried Forward 31/07/2023**
**1,882**
**-1,362**
**520**
**949**|
|---|---|
|||
|||
The notes on page 10-12 are part of these financial statements.
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## **A company limited by guarantee Number 08605568 Charity No. 1156506**
|**Balance Sheet as at 31/07/2024**||**Total this**|**Total last**|
|---|---|---|---|
|||**Year**|**Year**|
|**Fixed Assets**||**31/07/2024**|**31/07/2023**|
|||**£**|**£**|
|Tangible Assets|3|**287**|**287**|
|**Current Assets**||||
|Cash at Bank||1,904|4,379|
|Debtors|4|3,102|3,826|
|Stocks|5|1,639|2,980|
|||**6,645**|**11,185**|
|**Creditors**||||
|Amounts falling due in one year||-|-|
|Net Current Assets||6,645|11,185|
|**Total Assets**||**6,932**|**11,472**|
|**Long-term Liabilities**||||
|Amounts falling due more than 1 year|6|6,412|10,523|
|**Net Assets**||**520**|**949**|
|Financed by funds of the Charity;||||
|**Unrestricted Funds**||1,882|1,806|
|**Restricted/Designated Funds**||-1,362|-857|
|**Balance carried forward**|7|**520**|**949**|
The Directors further confirm that;
- a) For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
b) The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
c) The directors acknowledge their responsibilities for;
i. ensuring the company keeps accounting records which comply with section 386; and
ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its income and expenditure for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.
Director:
Robert Oenga ______________________ Date __________________________
Dennis Chisunka ______________________ Date __________________________
The notes on page 9-12 are part of these financial statements.
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## **A company limited by guarantee Number 08605568 Charity No. 1156506**
## **Section C:**
**LBC Lifeline Resource Ltd Notes to the Accounts For the year ended 31 July 2024**
## **Note 1: Basis of preparation**
## **1.1 Basis of accounting**
These accounts have been prepared on the basis of Historical Cost in accordance with;
- i) The Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005) ii) The Charities Act
## **Note 2: Accounting Policies**
## **Recognition of incoming Resources**
These are included in the Statement of Financial Activities (SoFA) when;
- i. The charity becomes entitled to the resources;
- ii. The trustees are virtually certain they will receive he resources; and
- iii. The monetary value can be measured with sufficient reliability.
## **Incoming Resources with related expenditure**
When incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
## **Grants and donations**
Grants and donations are only included when the charity has unconditional entitlement to the resources.
## **Volunteer help**
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
## **Liability Recognition**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## **Tea Stocks**
Closing stocks of tea for the tea project are valued at cost.
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**A company limited by guarantee Number 08605568 Charity No. 1156506**
## **Note 3: Fixed Assets**
## **Tangible fixed assets for use by the charity**
These are capitalised if they can be used for more than one year, and cost at least £200. They are valued at cost or a reasonable value on receipt.
## **Depreciation**
The policy of the charity is not to depreciate its fixed assets.
||**Note 3 Tangible fixed assets**|**Note 3 Tangible fixed assets**|**Note 3 Tangible fixed assets**|**Note 3 Tangible fixed assets**|||||
|---|---|---|---|---|---|---|---|---|
||3.1 Cost or valuation||||||||
|||Freehold
land &
buildings|Other land
&
buildings|Plant,
machinery
and motor
vehicles|Fixtures,
fittings and
equipment|Payments on
account and
assets under
construction|Total
31/7/24|Total
31/7/3|
|||£|£|£|£|£|£|£|
||Balance
brought
forward|-|-|-|287|-|287|287|
||Additions|-|-|-|-|-|-|-|
||Balance
carried
forward|-|-|-|287|-|287|287|
|**Note 4: Debtors**|**31/07/2024**
|**1/07/2023**|
|---|---|---|
||£|£|
|Trade debtors – tea project|3,102|3,826|
## **Note 5: The Tea Project Activity**
The charity supports and promotes projects that improve incomes and alleviate poverty of individuals, groups and organisations in the UK and abroad. The tea project supports smallscale rural farmers in Kenya to find a market for their tea and supplies a viable product to small businesses in the UK trading as tea sellers as well as proving consumers in the UK with an opportunity to enjoy exotic teas from Kenya. Closing stocks are valued at cost.
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**A company limited by guarantee Number 08605568 Charity No. 1156506**
## **Tea Project Trading Account for the Year Ended 31 July 2024**
|**Total this**
Notes
**Year**
**31/07/2024**
**£**
**Turnover**
**13,511**
**Less; Cost of sales**
Opening Stock
2,980
Purchases
8,706
Shipping and freight
1,450
13,136
Closing stock
1,639
11,497
**Gross profit**
**2,013**
Less: Expenditure
Wages, salaries, pension, NI
1,350
Packaging, storage and postage
980
Travel and transport
471
Website development and hosting
95
Marketing and promotions
266
Bank charges and interest
Stock loss in transit
Office running expenses
493
0
218
3,873
**Net profit/(loss) for the year**
**(1,859)**
**Note 6: Long-term Liabilities**
**31/07/2024**
£
GMCVO Social Funding 3-years at 12.5% loan from 21/08/2018
1,720
Santander Bank Government Bounce Back loan from August 20204,692
6,412|**Total last**
**Year**
**31/07/2023**
**£**
**12,149**
3,750
5,936
1,831
11,517
2,980
7,037
**5,112**
1,220
1,160
569
240
947
649
550
336
5,671
**(559)**
**31/07/2023**
£
3,693
6,830
10,523|
|---|---|
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# **A company limited by guarantee Number 08605568 Charity No. 1156506**
## **Note 7: Charity funds**
The movement of the designated and unrestricted funds are as stated in the SoFA on page 7 of these accounts.
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