Charity number: 1181658
LE CIEL FOUNDATION TRUSTEE'S REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Le Ciel Foundation Trustees' Report and Unaudited Financial Statements For The Year Ended 31 March 2025
Contents
| Page | |
|---|---|
| Trustee's Report | 2-3 |
| Income and Expenditure Account | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6-8 |
| The following pages do not form part of the statutory accounts: Detailed Income and Expenditure Account | 9-10 |
Le Ciel Foundation Company No. CE016265 Trustees' Report For The Year Ended 31 March 2025
The trustees present their report and the financial statements for the year ended 31 March 2025.
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 2025. 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:
Continued and New Projects During the 2024/2025 Period:
-
The Twelve for Children & School Curriculum, in collaboration with Earth Cubs, now known as Citizen of the World.
-
Transitioning to Good Living – A book release featuring collective work.
-
Holistic Visions Community Platform – A reciprocity channel and community growth hub.
-
Training Program for Individuals
-
Mind Dive - Mindfulness and Meditation.
Financial review
The charity received income of £60,606. 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 £5,332 and creditors of £93,092, resulting in net assets of £82,697
Reference and administrative details:
Registered Charity number
1181658 Registered office
1A Redcliffe Mews SW10 9JT, London
Page 2
Le Ciel Foundation Trustees' Report (continued) For The Year Ended 31 March 2025
Trustees:
The Trustees who held office during the year were as follows:
Mr. Maciej Sedlak Mr. John Curtiss Rogers Miss Nina Louisa Martens Mr. Sam Evitt Mrs 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
Trustee
31 January 2026
Page 3
Le Ciel Foundation Income and Expenditure Account For The Year Ended 31 March 2025
| Notes Donations Project costs GROSS SURPLUS Administrative expenses Other operating income OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR |
31March 2025 E 31March 2024 E 60,606 225,464 (16,125) (267,412) |
|---|---|
| 44,481 (41,948) (8,705) (27,367) - |
|
| 35,776 (69,315) |
The notes on pages 6 to 8 form part of these financial statements.
Page 4
Le Ciel Foundation Balance Sheet As at 31 March 2025
| FIXED ASSETS Notes Tangible Assets 4 CURRENT ASSETS Debtors 5 Cash at bank and in hand 6 Creditors: Amounts Falling Due Within One Year NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account FUNDS |
£ 31 March 2025 £ 31 March 2024 £ £ 170,457 171,339 |
|---|---|
| 170,457 171,339 - - 5,332 4,155 5,332 4,155 (93,092) (72,343) (87,760) (68,188) |
|
| 82,697 103,151 |
|
| 82,697 103,151 |
|
| 82,697 103,151 82,697 103,151 |
For the year ending 31 March 2025 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 Trustee 31 January 2026
The notes on pages 6 to 8 form part of these financial statements.
Page 5
Le Ciel Foundation Notes to the Financial Statements For The Year Ended 31 March 2025
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.
1.2. 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.
1.3. 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.
1.4. 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.
1.5. 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:
Depreciation is calculated on a reducing balance method at the following rates:
-
33% for Computer and Filming Equipment
-
25% for Fixtures & Fittings
-
0% for Art (as artwork is not subject to depreciation per the foundation’s accounting policies).
| 1.5.1Tangible Assets Cost As at 1 April 2024 Additions (Disposals) As at 31 March 2025 Depreciation As at 1 April 2024 Provided during the period As at 31 March 2025 Net Book Value As at 31 March 2025 As at 1 April 2024 |
Fixtures & Fittings £ 168,370 Computer Equipment £ 8,705 Total £ 177,931 - Art £ 856 - |
|---|---|
| 168,370 8,705 177,931 856 |
|
| - (6,532) - (6,402) (942) (182) (130) (760) |
|
| - (7,474) (312) (7,162) |
|
| 168,370 1,543 170,457 544 |
|
| 168,370 2,303 171,399 726 |
Le Ciel Foundation Notes to the Financial Statements (continued) For The Year Ended 31 March 2025
1.6. 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.
1.7. Taxation
The charity is exempt from corporation tax on its charitable activities.
1.8. 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.
1.9. 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.
2. Project costs
The total project costs of £16,125 represent all directly attributable expenses incurred in the delivery of the foundation’s core projects.
3. Average Number of Employees
Average number of employees, including trustees, during the year was as follows: 5 (2023/24: 8)
4. Trustees' remuneration and benefits
No trustees received remuneration for their role as trustees in the year ending 31 March 2025.
Page 7
Le Ciel Foundation Notes to the Financial Statements (continued) For The Year Ended 31 March 2025
5. Debtors
| .Debtors | ||
|---|---|---|
| 31 March | 31 March | |
| 2025 | 2024 | |
| £ | £ | |
| Due within one year | ||
| Trade debtors | - | - |
| Prepayments and accrued income | - | - |
| - | - | |
5.1. Creditors and Increase in Liabilities:
The foundation’s creditor balance primarily arises from the unsold artwork designated for auction at Christie’s Auction House following the Covid-19 outbreak. Expected revenue from the auction was not realised, leading to a significant impact on cash flow over subsequent years. As a result, outstanding liabilities have accumulated in relation to operational expenses, salaries, and project costs. These liabilities are expected to be settled in the next financial period as alternative funding sources are secured.
6. Creditors: Amounts Falling Due Within One Year
| Salaries Corporation Tax Office rental Contracts Accruals |
2025 £ 2024 £ 72,344 28,769 27,686 6,905 8,561 11,793 6,905 66,801 423 93,092 7593 |
|---|---|
6.1 . Accruals:
This amount represents out-of-pocket expenses incurred by a related trustee, which remain outstanding at the year-end. The foundation intends to settle these expenses at a more financially convenient time. These costs were incurred as part of operational activities and will be reimbursed in the next reporting period.
Page 8
Le Ciel Foundation Detailed Income and Expenditure Account For The Year Ended 31 March 2025
| 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) Other Operating Income Job retention scheme income OPERATING SURPLUS AND SURPLUS FOR THE |
£ £ £ 60,606 31 March 2025 |
£ £ £ 60,606 31 March 2025 |
£ 225,464 - 225,464 122,010 - 136,808 8,594 (267,412) (41,948) (27,367) 31 March 2024 - - (69,315) - 753 58 - 15 - 385 1,858 1,090 103 - 3,236 - - 800 - - 1,716 125 214 6 346 - |
£ 225,464 - 225,464 122,010 - 136,808 8,594 (267,412) (41,948) (27,367) 31 March 2024 - - (69,315) - 753 58 - 15 - 385 1,858 1,090 103 - 3,236 - - 800 - - 1,716 125 214 6 346 - |
|
|---|---|---|---|---|---|
| 16,125 - - - |
60,606 | 122,010 - 136,808 8,594 |
|||
| (16,125) | |||||
| - - - - - - - 3,168 - 481 - 1,993 - 187 72 - - - - 1,076 - 942 787 |
44,481 | - - 753 58 - 15 - 385 1,858 1,090 103 - 3,236 - - 800 - - 1,716 125 214 6 346 - |
|||
| - | (8,705) - 35,776 |
||||
| (69,315) |
OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR
Page 10