Lift- Labour In Faith And Trust Statement of Financial Activities Uncluding Summary Income and Expenditure Account) for the year ended 31 March 2023 Unrestricted Restricted Funds Funds Year Total Year Total 2023 2023 2023 2022 Income from: Charitable income Notes 292,014 292,014 304,642 Total income 292,014 292,014 304,642 Expenditure on: Charitable activities (323,146) (323,146) (323,146) (287,137) (287,137) Total expenditure (323,146) Net income before transfers (31,132) (31,132) 17,505 Transfer between funds Net incoming resources (31,132) (31,132) 17,505 Fund balances brought forward 153,849 153,849 136,344 Fund balances carried forward 122,717 122,717 153,849 All of the above results are derived from continuing activities.All gains and losses recognised in the year are included above. The notes on pages 6 to 8 form an integral part of these financial statements. Page 4
Lift- Labour In Faith And Trust Balance sheet as at 31 March 2023 2023 2022 Notes Current assets Cash at baLth and in hand 128,750 157,197 128,750 157,197 Creditors: amounts faIling due within one year (6,033) (3,348) Net current assets 122,717 153,849 Net assets 122,717 153,849 Capital and reserves Unrestricted funds 122,717 153,849 General funds 122,717 153,849 The financial statements were approved by the Board on 20 November 2023 and signed and approved for issue on its behalf by Walter Maguire Trnstee The notes on pages 6 to 8 form an integral part of these financial statements. Page 5
Lift- Labour In Faith And Trust Notes to the financial statements for the year ended 31 March 2023 Accounting policies 1.1. Basis of preparation The charity constituts a public benefit entity &8 defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chaTities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Lreland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements ar¢ prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The fanCIaL statements are prepared in sterling which is the funrtional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless othenvise stated. 1.2. Fund Accounting Unrestricted fLmds are available for use at the discretion of the trustees in furtherance of the general objectivcs of the charity. Designated fimds are unrestricted ftu]ds eaTmarked by the directors for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the ternis of an appeal 1.3. Resources Incoming resources All incoming resourccs are included in the SOFA when the charity Is legally entitled to the income and the amount can be quantified with reasonable accuracy. Donations are included as income when they are received. No amounts are included in the fmancial statements for services donated by volunteers. Resources expended All expenditure is accounted for on an accruals basis and has been classified under h¢adings that aggregate all costs relating to the category. Where Costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Page 6
Lift- Labour In Faith And Trust Notes to the financial statements for the year ended 31 March 2023 ontinued 2. Charitable income Unrestricted Restricted Total 2023 2023 2023 Total 2022 Donations and grants Caf¢ income Bank interest HMRC Grants 128,654 163,142 218 128,654 163,142 218 142,352 130,053 274 31,963 292,014 292,014 304,642 Unrestricted Restricted Total 2023 2023 2023 Total 2022 Total resources expended Costs directly allocated to charitable activities Staff and pension costs Project costs Madagascar expenses Caf¢ direct costs Insurance Light and heat Repairs and service Printing, postage and stationery Telephone Bank fees Gcn¢ral expenses Charitable donations 144,196 42,496 32,874 62,966 5,057 11,107 2,151 4,379 2,685 450 8,715 6,070 144,196 42,496 32.874 62,966 5,057 11.107 2,151 4.379 2,685 450 8,715 6,070 119,243 13,067 34,876 52,894 2,220 6,787 3,674 4,261 2,369 260 9,269 38,217 323,146 323,146 287,137 Page 7
Lift- Labour In Faith And Trust Notes to the financial statements for the year ended 31 March 2023 continued Creditors: amounts falling due within one year 2023 2022 VAT 6,033 3,348 Unrestricted reserve Analysis of net assets between funds fund Total Fund Balances at 31 March 2023 represented by: Current ass¢ts CuLTent liabilities 128,750 (6,033) 128,750 (6,033) Total net assets 122,717 122,717 The general reserve represents the free funds of the charity which are not designated for particular purposes. Page 8