REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
David Livingstone International Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
David Livingstone International Limited |
David Livingstone International Limited |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 12 |
David Livingstone International Limited (Registered number: SC118899) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
The trustees who are also directors 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 December 2023. 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 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity's objectives and aims are to continue to support the children who have benefited from the orphanages and school projects previously undertaken and to respond in emergencies and provide clean water in slum areas. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
We were able to visit the Philippines in March and Gina visited again in April and May 2024. We continued the teaching in Myanmar over the computer as well. The work in the Philippines has grown very strong and with the help to young pastors, they have reached a number of new villages. We are hoping to supply another motorcycle next year for further outreach. Our missionary in Kenya has also taken on the supervision of the work in Malawi, which has encouraged our workers there. We are using the internet to keep in contact with other countries as we can see each other as we discuss the reports and also encourage the younger and new members of the teams.My work is also in teaching Bible knowledge. I have also sent out messages to be translated into Telgu. This part of the work is growing and is very encouraging to us in the UK. |
FINANCIAL REVIEW |
Financial position |
We had a number of legacies which has enabled us to consider the expansions of the work in 2024, providing motorcycles to young pastors working in distant villages. Motorcycles with sidecars are useful for carrying food for distant villages and also medical aid. The financial position is as set out on page 5 which shows we have £168,456 of funds to carry forward. |
Principal funding sources |
The principal funding sources continue to be by donations and legacies from the general public and from a number of businesses who have become increasingly interested in the charity's work.The chairman continues to raise funds by preaching and at other meetings also so by seeking to find more sponsors for our needy children. We continue to do all our own printing for appeals and newsletters. All our workers are unpaid volunteers and the office accommodation with telephone is paid for by the president. We share a stand at the Royal Cornwall Show each year at no cost to the charity. |
Reserves policy |
The Charity made investments previously in order to maintain reserves at a minimum of £10,000. The value of these investments has reduced following a disposal to £13,342. We have substantial legacies which will enable us to invest more funds. Business Current Account £169,992.47. Savings Account £20,209.70. |
FUTURE PLANS |
We will continue all our programmes in education, medical aid and responding to crisis situations as funds allow and the provision of clean water by bore holes and pumps. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. It is controlled by its governing document, its Memorandum and Articles of Association. |
Recruitment and appointment of new trustees |
Contacts who show a real interest in the work of the charity and considered suitable candidates are recommended by any trustee to the annual general meeting initially appointed for one year. The next annual general meeting would make their appointment permanent if satisfactory. |
We are pleased to say that we have appointed two more trustees from London who are well known to both the chairman and secretary. They are Mr Conrad Alan Hall and Mrs Marion Elizabeth Hall. |
David Livingstone International Limited (Registered number: SC118899) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Shona Brown CA |
Clements |
Chartered Accountants |
39 St Vincent Place |
Glasgow |
G1 2ER |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
David Livingstone International Limited (Registered number: SC118899) |
I report on the accounts for the year ended 31 December 2023 set out on pages four to twelve. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
Shona Brown CA |
The Institute of Chartered Accountants of Scotland |
Clements |
Chartered Accountants |
39 St Vincent Place |
Glasgow |
G1 2ER |
6 September 2024 |
David Livingstone International Limited |
Statement of Financial Activities |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Total |
EXPENDITURE ON |
Raising funds | 3 |
Charitable activities |
Other |
Total |
Net gains/(losses) on investments | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 25,512 |
David Livingstone International Limited (Registered number: SC118899) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 25,512 |
TOTAL FUNDS | 25,512 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
David Livingstone International Limited (Registered number: SC118899) |
Balance Sheet - continued |
31 December 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
David Livingstone International Limited |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
Income |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Computer equipment | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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 funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
2. | INVESTMENT INCOME |
31.12.23 | 31.12.22 |
£ | £ |
Dividends and interest | 586 | 552 |
Deposit account interest |
David Livingstone International Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
3. | RAISING FUNDS |
Raising donations and legacies |
31.12.23 | 31.12.22 |
£ | £ |
Support costs |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or benefits for the year ended 31 December 2023. (2022 - NIL). |
Trustees' expenses |
In the year ended 31 December 2023 expenses of £nil were reimbursed to Rev G Cozens. (2022 - £107) |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
Net gains/(losses) on investments | ( |
) | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 45,874 | - |
David Livingstone International Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | 25,512 | - | 25,512 |
7. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2023 and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
8. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
MARKET VALUE |
At 1 January 2023 |
Disposals | ( |
) |
Revaluations |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 | 13,342 |
At 31 December 2022 | 13,829 |
There were no investment assets outside the UK. |
David Livingstone International Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
8. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 December 2023 is represented by: |
Listed |
investments |
£ |
Valuation in 2015 | 3,070 |
Valuation in 2016 | 396 |
Valuation in 2017 | 676 |
Valuation in 2018 | 185 |
Valuation in 2019 | (54 | ) |
Valuation in 2020 | (782 | ) |
Valuation in 2021 | 1,694 |
Valuation in 2022 | (1,356 | ) |
Valuation in 2023 | 2,013 |
Cost | 7,500 |
13,342 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Prepayments and accrued income |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Credit card |
Accruals and deferred income |
11. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 25,512 | 142,944 | 168,456 |
TOTAL FUNDS | 142,944 | 168,456 |
David Livingstone International Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
11. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 205,378 | (63,125 | ) | 691 | 142,944 |
TOTAL FUNDS | ( |
) | 142,944 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 45,874 | (20,362 | ) | 25,512 |
TOTAL FUNDS | 45,874 | (20,362 | ) | 25,512 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 46,924 | (65,930 | ) | (1,356 | ) | (20,362 | ) |
TOTAL FUNDS | 46,924 | (65,930 | ) | (1,356 | ) | (20,362 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 45,874 | 122,582 | 168,456 |
TOTAL FUNDS | 45,874 | 122,582 | 168,456 |
David Livingstone International Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
11. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 252,302 | (129,055 | ) | (665 | ) | 122,582 |
TOTAL FUNDS | 252,302 | (129,055 | ) | (665 | ) | 122,582 |
General and overseas funds are money raised to fund overseas projects for the education and support of children. |
12. | RELATED PARTY DISCLOSURES |
Loans of £35,000 were previously given to the Charity by Rev. G Cozens, a Trustee. The loan is interest free, unsecured and repayable on demand. |
13. | COMPANY LIMITED BY GUARANTEE |
The company is limited by guarantee, the liability of members being limited to £100 each. |