Charity number: 1181658 **LE CIEL FOUNDATION TRUSTEE'S REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** **Le Ciel Foundation Trustees' Report and Unaudited Financial Statements For The Year Ended 31 March 2022** |**Contents**|| |---|---| ||**Page**| |Trustee's Report|2-3| |Independent Examiner's Report|4| |Income and Expenditure Account|5| |Balance Sheet|6| |Notes to the Financial Statements|7-9| |The following pages do not form part of the statutory accounts:|| |Detailed Income and Expenditure Account|10-11| **Le Ciel Foundation Company No. CE016265 Trustees' Report For The Year Ended 31 March 2022** The trustees present their report and the financial statements for the year ended 31 March 2022 ## **Statement of Directors' Responsibilities** The trustees of the charity for the purposes of the Companies Act 2006 , present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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 2015). ## **Objectives and activities** The charity's object is to restore harmony and ecology on a global scale through cultural, environmental and spiritual projects as well as to preserve and improve the mental and physical health and wellbeing of the general public. ## **Strategic report:** ## **Achievement and performance** The charity is working on the following initiative: - Wisdom Transmission Films - The Twelve for Children & School Curriculum - Holistic Visions Training Program 2022 - Mind Dive - Centre for Scared Studies ## **Financial review** The charity received income of £466,464. The expenditure made has been on systems necessary for its administration. All donations received are directly connected to the charity's mission statement. At the period end the charity had cash funds of £192,088 and net assets of £294,118 ## **Reference and administrative details** **Registered Charity number** 1181658 ## **Registered office** 1a Redcliffe Mews London SW10 9JT Page 2 **Le Ciel Foundation Trustees' Report (continued) For The Year Ended 31 March 2022** ## **Trustees:** The Trustees who held office during the year were as follows: Mr. Maciej Sedlak Miss Jessie Balfour-Lynn Miss Nina Louisa Martens Mr. Sam Evitt Mr Andrea Dressman ## **Small Company Rules** This report has 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. On behalf of the board **Mr Maciej Sedlak** Director 31 January 2023 Page 3 **Le Ciel Foundation Independent Examiner's Report** ## **Independent examiner's report to the trustees of Le Ciel Foundation ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. ## **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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACA which is one of the listed bodies 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 Steve Coleman Gerald Edelman 73 Cornhill London EC3V 3QQ 31 January 2023 Gerald Edelman 73 Cornhill London EC3V 3QQ Page 4 ## **Le Ciel Foundation Income and Expenditure Account For The Year Ended 31 March 2022** |**Notes**
**Donations**
Project costs
**GROSS SURPLUS**
Administrative expenses
Other operating income
**OPERATING SURPLUS AND SURPLUS FOR THE**
**FINANCIAL YEAR**|**31March**
**2022**
**E**
**31March**
**2021**
**E**
466,464
321,120
(287,200)
(114,450)| |---|---| ||179,264
206,670
(44,482)
(35,413)
14,258
8,946| ||149,040
180,203| The notes on pages 6 to 7 form part of these financial statements. **Le Ciel Foundation Balance Sheet As at 31 March 2022** |**FIXED ASSETS**
**Notes**
Tangible Assets
**4**
**CURRENT ASSETS**
Debtors
**5**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within**
**6**
**One Year**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
Income and Expenditure Account
**FUNDS**|**31 March 2022**
**£**
**£**
**31 March 2021**
**£**
**£**
40,342
169,311| |---|---| ||40,342
169,311
102,030
-
192,088
29,229
294,118
29,229
-
(13,120)
294,118
16,109| ||334,460
185,420| ||334,460
185,420| ||334,460
185,420
334,460
185,420| For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. ## **Trustee's responsibilities:** The trustees have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. On behalf of the board ## **Mr. Maciej Sedlak** Director 31 January 2023 The notes on pages 6 to 8 form part of these financial statements. Page 6 **Le Ciel Foundation Notes to the Financial Statements For The Year Ended 31 March 2022** ## 1. **Accounting Policies** ## 1.1. **Basis of Preparation of Financial Statements** The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. ## **Financial reporting standard 102 - reduced disclosure exemptions** The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## 1.2. **Turnover** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## 1.3. **Tangible Fixed Assets and Depreciation** Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Computer Equipment 33% Reducing balance method ## 1.4. **Foreign Currencies** Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating surplus. ## 1.5. **Taxation** The charity is exempt from corporation tax on its charitable activities ## 1.6. **Fund Accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when feldspar raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements 1.7. ## **Critical accounting judgements and key sources of estimation uncertainty** In the application of the trust's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors are considered to relevant. Actual results may differ from these estimates. Page 7 **Le Ciel Foundation Notes to the Financial Statements (continued) For The Year Ended 31 March 2022** ## 1.8. **Project costs** Wisdom & Nature £35,831 The Twelve £334 HV Programme 2022 £29,027 Mind Drive £13,500 Centre for Scared Studies £10,742 Le Ciel App £289 Wisdom Transmission Film £1,403 ## **Totals £91,126** ## **2. Average Number of Employees** Average number of employees, including directors, during the year was as follows: 10 (2021: 10) ## **3. Trustees' remuneration and benefits** The following trustees were paid remuneration for the year ended 31st March 2022. Nina Luisa Martens £16,725 Jessie Balfour-Lynn £16,261 ## 4. **Tangible Assets** |.**Tangible Assets**|| |---|---| |**Cost**
As at 1 April 2021
Additions (Disposals)
As at 31 March 2022
**Depreciation**
As at 1 April 2021
Provided during the period
As at 31 March 2022
**Net Book Value**
As at 31 March 2022
As at 1 April 2021|**Fixtures &**
**Fittings**
**£**
168,157
**Computer**
**Equipment**
**£**
2,471
**Total**
**£**
170,628
(132,622)
5,919
(126,703)| ||35,535
8,390
43,925| ||502
815
1,317
(502)
2,768
2,266| ||-
3,583
3,583| ||35,535
4,807
40,342| ||167,655
1,656
169,311| All fixed assets are recorded at cost less accumulated depreciation. Depreciation of the assets has been calculated at the maximum rates permitted by the Income Tax Act 2007. The entity has the following asset classes: -Computer Equipment. 33% Reducing Balance -Art - 0% Page 9 **Le Ciel Foundation Detailed Income and Expenditure Account For The Year Ended 31 March 2021** ## 5. **Debtors** |**31 March**|**31 March**| |---|---| |**2022**|**2021**| |**£**|**£**| **Due within one year** Trade debtors 100,649 Prepayments and accrued income 1,381 102,030 ## 6. **Creditors: Amounts Falling Due Within One Year** |Trade creditors
Other taxes and social security
Pension payable
Other creditors (1)
Accruals and deferred income|**31 March**
**2021**
**£**
**31 March**
**2021**
**£**
4,757
553
217
6,023
1,570
13,120| |---|---| Page 10 **Le Ciel Foundation Detailed Income and Expenditure Account For The Year Ended 31 March 2022** |**TURNOVER**
Donations received
**PROJECT COSTS**
Direct Cost
Charitable Donations
Wages and salaries
Employers pensions - defined contribution schemes
**GROSS SURPLUS**
**Administrative Expenses**
Staff training
Staff welfare
Travel - National
Travel - International
Business Meetings
Rent
Light and heat
Repairs and maintenance
Computer and IT consumables
Insurance
Printing, postage and stationery
Carriage and freight
Advertising and marketing costs
Events / Conferences
Telecommunications and data costs
Accountancy fees
Legal fees
Subscriptions
Bank charges
Bad debts written off
Depreciation
Entertaining
Sundry expenses
Foreign exchange deficit/(surplus)|**£**
**£**
**£**
**£**
466,464
321,120
-
-
466,464
321,120
195,670
76,293
3,604
124
83,353
37,362
4,573
671
(287,200)
(114,450)
179,264
206,670
-
175
226
169
163
128
-
492
98
-
16,572
16,572
-
-
722
408
5,513
2,901
2,385
1,273
76
158
119
56
2,589
2,955
-
-
3,452
688
791
2,058
336
1,936
167
1,561
1,210
1,075
-
256
2,266
1,317
174
115
665
28
9,224
1,092
(44,482)
(35,413)
...CONTINUED| |---|---| ## **Le Ciel Foundation Detailed Income and Expenditure Account (continued) For The Year Ended 31 March 2022** **Other Operating Income** Job retention scheme income 14,258 8,946 14,258 8,946 **OPERATING SURPLUS AND SURPLUS FOR THE** 149,040 180,203 **OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR** Page 11