2022-05-31-accounts - Limago Foundation

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Trustees’ Annual Report for the period

From: 01/06/2021 To: 31/05/2022

Charity name: Limago Foundation

Charity registration number: 1190401

Objectives and Activities

The Charities objectives continue to be the provision of grants to institutions that help with the advancements of health and wellbeing for those children and young people with disabilities.

Unfortunately, during this reporting period, the activities of the Charity continue to be affected by the Coved-19 pandemic. The implication of this was that in the main the Trustees were only able to continue having exploratory conversations with potential donors and focusing on future for fundraising and grant giving.

The Trustees have also used this enforced quitter time to review and enhance the governance of the Charity.

Achievements and Performance

During the year the Charity has set in place a strategy for its fundraising activities over the next year.

In addition, there has been a significant amount of attention on building relationships within the Charity and the wider community which will benefit from the Charity’s ongoing activities.

The Trustees continue to be engaged with proactive discussions about the benefit the Charity will provide to some of the identified future beneficiaries.

Financial Review

The Charity’s accounts at the end of the period reflected the receipt of art donated in a value of £150,000. This art is held as unrestricted funds for use by the Trustees as they see fit whether it would be outright donation or its sale with the proceeds being used for either ongoing run of the Charity or for grant giving.

The Trustees envisage that in the forthcoming period the Charity will be in a position to receive third party donations to further continue its charitable endeavours.

Structure, Governance and Management

The Charity is a charitable incorporated organisation having been established on 14 July 2020

The objects of the CIO are:

(1) To prevent or relieve poverty, financial hardship and suffering.
(2) To preserve life and promote health and welfare including without limitation mantal health
(3) To advance development and education; In each case, of children up to and including the age of 11 years, anywhere in the world, by engaging in fundraising activities and making grants to organisations and supplying goods to further those charitable purposes.

The Trustees at the year-end were:

Catherine Linnemann Lady Charlotte Northbrook

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Catherine Linnemann Position (eg Secretary, Chair Chair, etc) Date 29/03/2023

Charity Name:Limago Foundation	Charity Name:Limago Foundation	Charity Name:Limago Foundation	Charity No 1190401
Annualaccountsforthe period
Period start date	01/06/2021	To	Period end date	31/05/2022

Section A Statement of financial activities

Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-		-	-
-	-	-	-	-
150,000	-	-	150,000	-
150,000	-	-	150,000	-

-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-

150,000	-	-	150,000	-
-	-	-	-	-
150,000	-	-	150,000	-
-	-	-	-	-
-	-	-	-	-

-	-	-	-	-
-	-	-	-	-
150,000	-	-	150,000	-

-	-	-	-	-
150,000	-	-	150,000	-

Section B Balance sheet

Unrestricted funds £ F01	Restricted income funds £ F02	Endowment funds Total this year £ £ F03 F04	Endowment funds Total this year £ £ F03 F04	Total last year £ F05
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-

150,000	-	-	150,000	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
150,000	-	-	150,000	-

-	-	-	-	-

150,000	-	-	150,000	-

150,000	-	-	150,000	-

-	-	-	-	-
-	-	-	-	-

150,000	-	-	150,000	-

-			-	-
	-		-	-
150,000		-	150,000	-
			-
150,000	-	-	150,000	-

Signature		Print Name		Date of approval dd/mm/yyyy
		Catherine Linnemann		29/03/2023

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with:

the Statement of Recommended Practice: Accounting and Reporting by Charities
• and with * preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 the Financial Reporting Standard applicable in the United Kingdom and Republic of
• and with* Ireland (FRS 102)
and with the Charities Act 2011.

Section C Notes to the accounts (cont)

Note 3 Analysis of income

Note 3 Analysis of income	Analysis of income	Analysis of income	Analysis of income	Analysis of income	Analysis of income	Analysis of income
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Conversion of endowment funds into income - - - - - Gain on disposal of a tangible fixed asset held for charity's own use - - - - - Gain on disposal of a programme related investment - - - - - Royalties from the exploitation of intellectual propertyrights - - - - - Other 150,000 - - 150,000 - Total 150,000 - - 150,000 - 150,000 - - 150,000 - Analysis TOTAL INCOME Other:	Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Analysis
	Conversion of endowment funds into income	-	-	-	-	-
	Gain on disposal of a tangible fixed asset held for charity's own use	-	-	-	-	-
	Gain on disposal of a programme related investment	-	-	-	-	-
	Royalties from the exploitation of intellectual propertyrights	-	-	-	-	-
	Other	150,000	-	-	150,000	-
		150,000	-	-	150,000	-

		150,000	-	-	150,000	-

Section C Notes to the accounts (cont)

Note 18 Stocks

Please complete this note if the charity holds any stock items

18.1 Please state the carrying amount of stock and work in progress analysed between activities.

activities.
Charitable activities: *Opening* *Added in period* *Expensed in period* *Impaired* *Closing* Other trading activities: *Opening* *Added in period* *Expensed in period* *Impaired* *Closing* Other: *Opening* *Added in period* *Expensed in period* *Impaired* *Closing* Total this year *Total previous year*	Stock		Donated goods		Work in progress
	For distribution	For resale	For distribution	For resale
	£	£	£	£	£

	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-


	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-


	-	-	-	-	-
	-	150,000	-	-	-
	-	-	-	-	-
	-	-	-	-	-
	-	150,000	-	-	-
	-	150,000	-	-	-
	-	-	-	-	-

18.2 Please specify the carrying amount of any stocks pledged as security for liabilities

This year	Last year
£	£

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees Charity Name Limago Foundation On accounts for the year 31/05/2022 Charity no 1190401 ended (if any) Set out on pages Page 1 - 5 (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 05 / 2022 . Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
• the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Please delete the words in the brackets if they do not apply.

Date: 29/03/2023

Signed: Name: Ben Warren Relevant professional Institute of Chartered Accountants in England and Wales qualification(s) or body (if any):

Oct 2018

IER

Canalot Studios 133

Address:

222 Kensal Road, London

W10 5BN

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

Oct 2018

IER