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).
|1.5.1**Tangible 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