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2023-03-31-accounts

Registered number: 09626673 Charity number: 1163423

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Company, its Trustees and Advisers 1
Chairperson's Statement 2
Trustees' Report 3 - 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 - 22

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees Jane Whitfield, Chair
Clive Doubleday
Paul Ramsey (resigned 13 April 2023)
Sandra Boreham (appointed 31 March 2023)
Cheryl Summers (appointed 31 March 2023)

Company registered number 09626673 Charity registered number 1163423 Registered office PO Box 1414 Peterborough PE1 9WG Company secretary Ruth Doubleday Chief executive officer Tim Doubleday

Page 1

SMILE IKfERNATIONAL IA G(ATrpany Limited by Guar•nt•e) CHAIRPERSON'S STATEMEp¥r FOR THE YEAR ENDED 31 IAARCH 2023 The chairperson presents their slatement for the year. l am de1￿hted to Introdu￿ the Tn￿t•e$ Report with the Fina￿la1 Statements for 2022r23. Our main areas of ac￿ are represented by the acronym FEED.. F eoding E ducaling E mpoweTing D gvekjping Smi18 Intemalbonal ly passionate atr￿t hdpirwJ to reF￿Ve SLrflering and p)v* around the world through our FEED programme8 - Feeding, Educating. Empowering and Developing. as well as our Child and Widow Sponsorship programmes. We are dedbcated to giving hope to those tn need and provtding people with an opportunity to develop emotionalky, physicalty. soc￿lty and syrituaty. In KOSOVO. we have prevKMtsty supp￿ted war and their families and wovthd palliatNe care to cancer patients. We pmided free med￿&18SsIStaTrCe as wèm as med￿1r1e5 for pwn Tell￿. We our own purp)8e- built Smilo Cen￿. which accommfxlales guests and hosts wifgrenc88. In UGANDA, we PfOVKle chihyren with an education to help them escape the CYC￿ of povety through our Child Sponsorship pfogramme. We also focus on emFowering indiwduals and help them lo bacome self-sufflcient through our EmkThvering prcgramme, earn a Imng and 8UPPOrt thelr f￿11188. In ZIM&4BWE, through our Fg•Iing progranme. a m￿1 for many chikjren exh school day. A8 well as feedino chiklren. we also provvje feod parceL8 for and pastors every month. Through our Dgveloping programme. we are abb to build new classrooms, tOl￿t bb¢k$. kitchen shsllers and church buildings, as well a$ Safe waler supplies to provvje fresh w8t•r. In INDIA. we fund a mlnk8try and evang8li8m training o)ur8e for mi3n and Wom￿, called to sepie God and 8hare the Gospel in Ihe k)¢al t(1￿3 and vilL4ges. By d￿'ng thk8 our team asse¥s Its needs of people they Tneel and can provide support through the vilLage ministry. We also suprort 8 pwchwl every school day whth enable5 them to b8 more prepared for when they reach Sd￿1. We provide academt siwort and encourage tho chlbJren'8 80c￿l and educational ￿1th1n9. Vve thank God for the rKiwlege rt is to serve Him and His pwle and for the wonderful way He has continved lo help us care for many struggling children and familes across the world during thhry challenging year. We are so grateful for the generosty and erwul8g￿fjnt of our suworter8. whth hag enabled us to maintain and develop our core ath"vitio$. Chair of Trustees Date.. 18 July 2023

SMILE 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 Company for the period 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 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

Policies and objectives

• To transform whole lives; body and soul, of the most vulnerable people who have been damaged by war, poverty, illness and natural disaster

• To work in effective partnerships to make a real difference to those in need

• To be an organisation where every person and gift of time, money or goods is used to best effect and which exercises good stewardship of resources

• To keep our supporters informed about activities

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 3

SMILE INTERNATIONAL (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Objectives and activities (continued)

Activities undertaken to achieve objectives

Income

Overall income was £169,489 in 2022/23.

Expenditure

Expenditure was £203,962

We endeavoured to maintain the proportion of expenditure going to charitable activities at more than 75% of our total expenditure. This year the percentage was 90.2% (2022 - 90.7%).

Child Sponsorship

Our Child Sponsorship programme has continued to thrive with the children benefitting from receiving an education to help them escape the cycle of poverty. When a person sponsors a child, it changes their life but what we often forget, is that it changes ours too. Child sponsorship actively turns tears into smiles and helps give a child the support they need to grow and change their lives. Each child is the future of their country, and we are passionate in serving these children so that they can reach their God-given potential.

Widow Sponsorship

It has always been at the heart of what Smile International has done, to care for and look after widows in their time of need. We truly believe that God holds widows close to His heart and this is what drives us to help support, care for and turn their tears into smiles. We feel so passionate about being their support that we have a Sponsor a Widow programme, where people can regularly sponsor a widow for just 66p a day, £20 a month, and become their friend from afar. The widows we help are in desperate situations; they are destitute, alone and need our help. In cultures where women are not encouraged to be independent, the death of their husband is not just life shattering but can be incapacitating. They become vulnerable, exposed, and marginalised. The help they receive from Smile International means they know that someone cares for them, cares about their challenging situation and cares enough to help them through it.

Our work overseas

KOSOVO

In 2011 we set out with a plan to start a palliative care programme in Kosovo to provide professional end of life care for terminally ill patients. Our aim was to support the care of seriously ill and dying patients in their homes, bringing comfort and dignity to people and help them live life to the full, for whatever time they have left. Since then, we have trained over 3,200 doctors and nurses in end-of-life care. We have completed over 21,500 homecare visits and have treated thousands of patients. We have therefore accomplished our mission which we set out to achieve in 2011 and will therefore no longer be running our palliative care project in Kosovo. We have felt privileged to serve the people of Kosovo during the past decade with this project and are pleased that the government of Kosovo is now helping to provide healthcare for cancer patients.

We have also been able to support our sponsored widows and children, with much-needed food parcels over the years but are pleased to report that the children and widows are now empowered and are able to support themselves.

Page 4

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Objectives and activities (continued)

ZIMBABWE

We are passionate about feeding the hungry in Zimbabwe each school day. These children are from very deprived families who struggle to survive, which means many children often arrive at school extremely hungry. Some of the children we work with are child-headed families and so do not have any parents or older family members to look after them. We provide food and practical support to these children to ensure that they do not go hungry and that they are kept safe and away from harm. As well as feeding children, we also provide food parcels for widows and pastors regularly. As a result of Smile’s help, local communities have been considerably transformed through our development work.

UGANDA

Many children would love to attend school and learn in order to make a difference to their lives, but very often they are faced with the debilitating despair of progressing into the cycle of poverty. It is such a privilege to have the opportunity of an education and we do not want children to miss out on that privilege just because they are poor. In Uganda we have a Child Sponsorship programme where we provide school fees, and other necessities for children, in order that they can attend school and stand a real chance in achieving their dreams.

We are also passionate about empowering those who dream to become self-sufficient, and we provide this opportunity through our micro-financing programmes. It is all about how to make a small business sustainable which will therefore generate income for the future.

INDIA

Our work in India continues to fund a ministry and evangelism training course for men and women, called to serve God and share the Gospel in the local towns and villages. During these meetings we provide the students with study books and a meal, so that they can be more focussed and be more effective in their learning. We also help to cover their transport costs. By doing this our team assess the needs of people they meet and can provide support through the village ministry. We also support a preschool every school day which enable them to be more prepared for when they reach school. We provide academic support and encourage the children’s social and educational wellbeing.

Main activities undertaken to further the Company's purposes for the public benefit

The Trustees are mindful of the Charity Commission's guidance on reporting on public benefit when reviewing our aims and objectives and planning our activities. Smile International work with some of the poorest people around the world providing food, education, spiritual and medical care to those in need, irrespective of their race, faith or nationality, and have ensured that the activities undertaken contribute to the aims and objectives of the charity. In addition, by putting to good use items that would otherwise go to waste, the charity has a positive impact on the environment. The Trustees are therefore confident that Smile International meets the public benefit requirements.

Page 5

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Achievements and performance

Financial review

Company Status

In 2017, Smile International upgraded its status to that of a limited company and keeping its registered charitable status.

Smile International is a company limited by guarantee, registered in England and Wales. Company registered number 9626673. Registered Charity Number 1163423. Smile International is also registered with the Fundraising Regulator.

As a limited company and registered charity, our accounts are independently reviewed and the accounts will be submitted to Companies House.

We also report to the Charity Commission, an independent body that regulates activities of charities in the UK.

Going Concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity 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.

Reserves Policy

The Trustees continued to review the appropriate level of reserves required annually. The main purpose of our reserves is:

In practice this means aiming to have at least £500 kept in our reserves. The trustees can confirm that this target amount has been met for this financial year.

Reserves of the charity fall into two types:

Restricted funds

These are funds where a donor has stipulated how their donation is to be spent. In most cases there will be a time difference between when such funds are received and when they are spent. In particular, there may be a need for immediate relief work, followed by longer-term rehabilitation and development projects, resulting in part of the restricted appeal monies being expended over a number of years. Sometimes it takes time to raise sufficient funds to be able to start a project so there may also be a delay in making expenditure.

Unrestricted funds

These are funds where there is no stipulation from the donor as to how the donation may be spent.

Within certain operating needs, the Trustees' policy is to ensure that all funds are expended as soon as possible, in order to fulfil the purpose of the donations, while guaranteeing these resources are used effectively. Not only does this achieve the goals of the charity to help those in need, but this also means that we can give speedy feedback to donors, which helps inspire confidence in our work and motivates donors to continue their support.

Page 6

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management

Constitution

Smile International is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 06/06/15.

Methods of appointment or election of Trustees

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of Articles of Association.

Financial risk management

The Trustees acknowledge their responsibility to undertake a risk assessment of the Charity's work and regularly review all aspects of Smile International's work. Risk management plans are implemented. The Trustees keep this process under regular review. The main risks are financial, and in particular:

We regularly monitor and, where necessary, address these risks.

Plans for future periods

The ongoing main objective for 2023/24 is to continue working towards placing Smile on a firmer financial footing by maintaining our existing projects. The Trustees would like to express their gratitude to all our supporters and donors, big or small, and their deep appreciation to all our staff, volunteers, supporters and partner organisations for their commitment and contribution to the vision and values of Smile International. We continue to trust the Lord as we move forward in faith.

Page 7

SMILE IKfERNATIONAL {A Company Limltsd by GuaAnt•• TRUSTEES. REPORT {coKfiNUED) FOR THE YEAR ENDED 31 MARCH 2023 Statom•M of TN6t￿8. r•spon8iblllti•8 The TTU$taes Ivtho are also the dIred0￿ of the Company for the purposes of company lawl are reskxjnsible for preparing the Trustees, Report arKI the financ￿ statements In accordan￿ applicable law and United lQngdom Accounting Standards (United Kingdom Generalty Awted ACC￿ntil9 Practice). Company law requires the Trustees to prepare financial stemerts for each financral year. Under company law, the Trustees musl not approve the financpl statements unless they are sats$r￿ that they give a true and fair view of the stale of affairs of th8 Company and incoming resource5 and applulion of resource¥. including its income and eX￿nd￿￿re, for th penod. In preparing these financial statements, the TTUStees are required select $uitable aecounbng poI￿leS and then apply them consi$lenVy.' observe the meth¢xls and prinuple¥ of the charib.es SORP IFRS 102).. make judgments and accounbng estimates that are reasonable and prudent $tale whether 8ppli¢abte UK Accounting Standards IFRS 102) have boon folkAved. $uty'ect to any material departures dwlo¥ed arKI explained in the financHI statsm6nts." prepare the finan￿al statements on the gjing concem basis unless It 1$ inapproprth to presume that the Company win ¢ontinu• in bu*ln8U. The Truste68 are responsib￿ for keeping adequatè accounting reccrfds that are Suffici￿t lo Show and explain the Companys transactions and disck)se wilh rea$c￿ab￿ acCU￿Y al ony time the financial position of Ihe Company and ènable them to ensure th8t the finana81 slatom8nt8 compty wth the Compantes Act 20C6. They are also rosponsible for sefeguarding the assets of the Company aTrJ hence for taking reason81)18 8ty ft)r the prevention and detect￿ of fraud and other iTrtyuLgrits8s. )provtrJ by order of the member8 ¢M th& board of Trustees and signed on their b8haW by. Jan• Whlffi•ld Chair of Trusteés Date.. 18107r2023 Page 8

SMILE 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 Smile International ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and Basis of Report

As the Trustees of the 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 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 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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

Signed: Dated: 18/07/2023 Jack Fryer ACA Hedley Dunk Limited Chartered Accountants

Page 9

SMILE 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
Other income
TOTAL INCOME
Expenditure on:
Raising funds
Charitable activities
4
TOTAL EXPENDITURE
RECONCILIATION OF FUNDS:
Total funds brought forward
Net movement in funds
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
2023
£
167,509
-
167,509
20,066
181,916
201,982
161,915
(34,473)
127,442		 Restricted
funds
2023
£
1,980
-
1,980
-
1,980
1,980
-
-
-		 Total
funds
2023
£
169,489
-
169,489
20,066
183,896
203,962
161,915
(34,473)
127,442		 Total
funds
2022
£
166,398
-
166,398
18,081
175,988
194,069
189,586
(27,671)
161,915

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 12 to 22 form part of these financial statements.

Page 10

SMILE INTERNATIONAL (A Company Llmitod by Guarantso REGISTERED NUMBER: 096266n BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 FIXED ASSErs Tangible assets 258.891 265,012 258,891 265,012 CURRENT ASSETS Debt¢Jf8 Cash at bank and in hand 10 4.961 1.528 2,917 5,350 6,489 8.267 Creditors.. amounts faI￿ng due wthin Lv year 11 1137,9381 (111,364) NET CURRENT LIABILITIES TOTAL ASSEfs LESS CURREKr LIABILITIES NEf ASSETS EXCLUDING PENSION ASSET (131.4491 (103,09n 127,442 161,915 127,442 161.915 TOTAL NEf ASSErs 127.442 161,915 CHARITY FUNDS R•strict8d funds Unr68trictthJ fund8 12 12 127.442 161,915 TOTAL FUNDS 127.442 161,915 The Company was enlitlod to axempkn from audrt uft￿ 9ection 477 of the Companies Act 2008. The members have not required the comkwy to cl)tain an alth for the yaar in question in a¢¢ordan¢e with gection 476 of Cempanie8 21x6. The Trustees a¢knO￿edge their r8sponsibilitEs for complymg wth the requirements of the Act with re¥peGt to accounting records and preparat￿N of financial statements. The financial statements ha￿ prepared in vxcordanr* with tha provlsions applrAblg tr) entitw $yty"oct to the small companies regime. The fnanctal ststements ap￿0￿ arKI authortsed for issue by the Trustees s￿ned on their behalf by.. Jane Whiffield Chair of Trusteeg Date: 18107r2023 The noles on pages 12 to 22 fcrfm part of Ihese fw7anco1 stat￿n8rrts. Page11

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. General information

Smile International is a private limited company by guarantee registered in the UK. It is also a registered charity in the UK, with its operations and principal activities disclosed in the Trustees' Report. The principal place of business is the same as the registered address.

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.

Smile 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

The financial statements are prepared on a going concern basis. After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate current reserves and future sources of income to continue in operational existence for at least twelve months following the approval of these financial statements.

2.3 Income

All income is recognised once the 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.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.

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 raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Page 12

SMILE 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 (continued)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 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. .

Depreciation is provided on the following basis:

Freehold property - 2% straight line
Fixtures and fittings - 25% reducing balance
Office equipment - 25% reducing balance

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 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.

Page 13

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.10 Financial instruments

The 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.

2.11 Pensions

The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.

2.12 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 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 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
Legacies
Total 2022		 Unrestricted
funds
2023
£
140,346
27,163
167,509
165,218		 Restricted
funds
2023
£
1,980
-
1,980
1,180		 Total
funds
2023
£
142,326
27,163
169,489
166,398		 Total
funds
2022
£
139,184
27,214
166,398

Page 14

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4. Analysis of expenditure on charitable activities

Summary by fund type

Projects
Total 2022		 Unrestricted
funds
2023
£
181,916
174,808		 Restricted
funds
2023
£
1,980
1,180		 Total
2023
£
183,896
175,988		 Total
2022
£
175,988

5. Analysis of expenditure by activities

Projects
Total 2022		 Activities
undertaken
directly
2023
£
43,548
43,221		 Support
costs
2023
£
140,348
132,767		 Total
funds
2023
£
183,896
175,988		 Total
funds
2022
£
175,988

Analysis of direct costs

Projects
Sponsorship
Total 2022		 Projects
2023
£
33,252
10,296
43,548
43,221		 Total
funds
2023
£
33,252
10,296
43,548
43,221		 Total
funds
2022
£
31,711
11,510
43,221

Page 15

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. Analysis of expenditure by activities (continued)

Analysis of support costs

Projects
2023
£
Staff costs
57,193
Depreciation
6,121
Travel
5,742
Advertising
10,134
Rent & Rates
3,483
Insurance
1,536
Printing, postage & stationery
7,962
Computer costs
11,166
Legal & Professional
13,883
General expenses
7,331
Bank charges
7,842
Telephone
4,895
Accountancy costs
3,060
140,348
6.
Independent examiner's remuneration
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts
Fees payable to the Company's independent examiner in respect of:
All other services not included above		 Total
funds
2023
£
57,193
6,121
5,742
10,134
3,483
1,536
7,962
11,166
13,883
7,331
7,842
4,895
3,060
140,348
2023
£
1,840
1,220		 Total
funds
2022
£
51,677
6,247
4,958
3,924
2,582
1,634
10,012
17,484
14,090
3,316
6,538
7,365
2,940
132,767
2022
£
1,740
1,200

Page 16

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Staff costs

2023
£
Wages and salaries
72,929
Social security costs
1,745
Contribution to defined contribution pension schemes
1,582
76,256
The average number of persons employed by the Company during the year was as follows:
2023
No.
Staff
4		 2022
£
65,542
1,913
1,447
68,902
2022
No.
4

No employee received remuneration amounting to more than £60,000 in either year.

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL).

Page 17

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. 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		 Freehold
property
£
287,100
287,100
23,606
5,742
29,348
257,752
263,494		 Fixtures and
fittings
£
420
420
287
33
320
100
133		 Office
equipment
£
4,374
4,374
2,989
346
3,335
1,039
1,385		 Total
£
291,894
291,894
26,882
6,121
33,003
258,891
265,012

10. Debtors

Due within one year
Other debtors
Prepayments and accrued income		 2023
£
2,639
2,322
4,961		 2022
£
1,504
1,413
2,917

11. Creditors: Amounts falling due within one year

Other loans
Other taxation and social security
Pension fund loan payable
Other creditors
Accruals and deferred income		 2023
£
10,000
2,597
328
121,541
3,472
137,938		 2022
£
10,000
2,417
309
95,646
2,992
111,364

Page 18

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Feeding
Educating
Empowering
Total of funds
Statement of funds - prior year
Unrestricted funds
General Funds - all funds
Restricted funds
Feeding
Educating
Empowering
Total of funds		 Balance at 1
April 2022
£
161,915
Balance at 1
April 2022
£
-
-
-
-
161,915
Balance at
1 April 2021
£
189,586
-
-
-
-
189,586		 Income
£
167,509
Income
£
926
387
667
1,980
169,489
Income
£
165,218
340
290
550
1,180
166,398		 Expenditure
£
(201,982)
Expenditure
£
(926)
(387)
(667)
(1,980)
(203,962)
Expenditure
£
(192,889)
(340)
(290)
(550)
(1,180)
(194,069)		 Balance at
31 March
2023
£
127,442
Balance at
31 March
2023
£
-
-
-
-
127,442
Balance at
31 March
2022
£
161,915
-
-
-
-
161,915

Page 19

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. Summary of funds

Summary of funds - current year

General funds
Restricted funds
Summary of funds - prior year
General funds
Restricted funds		 Balance at 1
April 2022
£
161,915
-
161,915
Balance at
1 April 2021
£
189,586
-
189,586		 Income
£
167,509
1,980
169,489
Income
£
165,218
1,180
166,398		 Expenditure
£
(201,982)
(1,980)
(203,962)
Expenditure
£
(192,889)
(1,180)
(194,069)		 Balance at
31 March
2023
£
127,442
-
127,442
Balance at
31 March
2022
£
161,915
-
161,915

14. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
258,891
6,489
(137,938)
127,442		 Total
funds
2023
£
258,891
6,489
(137,938)
127,442

Page 20

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2022
£
265,012
8,267
(111,364)
161,915		 Total
funds
2022
£
265,012
8,267
(111,364)
161,915

15. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £1,582 (2022 - £1,447). Contributions totalling £328 (2022 - £309) were payable to the fund at the balance sheet date and are included in creditors.

16. Operating lease commitments

At 31 March 2023 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2023 2022
£ £
Not later than 1 year - 513

The following lease payments have been recognised as an expense in the Statement of Financial Activities:

2023 2022
£ £
Operating lease rentals - 756
Changes in lease payments arising from COVID-19 related rent
concessions - -

Page 21

SMILE INTERNATIONAL

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. Related party transactions

The spouse, son and daughter of a Trustee are employed by the charity. They received total remuneration for their services to the charity of £70,623 (2022 - £64,080), which is included in staff costs.

Donations received during the year from Trustees amounted to £6,236 and are included in income from donations.

Page 22