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REGISTERED COMPANY NUMBER: 04919145 (England and Wales)
REGISTERED CHARITY NUMBER: 1102331














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

LSVTM Limited

LSVTM 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 10

LSVTM Limited (Registered number: 04919145)

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 main objective of the charity is the advancement of the Christian religion.

LSVTM supports the translation and production of Christian literature, audio and visuals in the Serbian language for distribution in Serbia and wherever the Serbian language is spoken throughout the world.

In pursuance of its objectives the charity produces audio visual publications, including books, cd's and DVDs which, as well as the literature and audio visuals previously published, are available in the Serbian language for Serbian speaking people throughout the world. In addition, some of the publications will also, where possible, be published in due course in other languages. Work is currently being undertaken to make available online, subject to the consent of copyright holders, much of the current and past catalogues.

Public benefit
In planning the activities of the charitable company the trustees have considered the Charity Commission's guidance on public benefit and, in particular,the specific guidance on charities for the advancement of religion.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The following items were produced and distributed during the year and the website was maintained.

- Produced 6 books in various e-book formats for LSVTM website and for printing;
- Distributed 140 Books
- Distributed 892 CDs;
- Distributed 420 DVDs.

We again thank God for His ongoing goodness and look forward to the challenges to come.

FINANCIAL REVIEW
The total income for the year was £1248 and total expenditure on charitable activities amounted to £5320. The balance on resources at the year end was £5795..

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

LSVTM is a company limited by guarantee governed by its Memorandum and Articles of Association dated 21st September 2013. It is registered as a charity with the Charity Commission. Members of the charitable company guarantee to contribute amounts not exceeding £10 to the assets of the charitable company in the event of winding up.


LSVTM Limited (Registered number: 04919145)

Report of the Trustees
for the Year Ended 31 December 2023


STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
The trustees keep the composition of the board under review and will seek to appoint additional members with appropriate skills and expertise should the need arise. Interested parties are given details of the background of the charitable company in order to make them aware of current activities.

New trustees are recruited through personal recommendation.

To be appointed trustees must be:

a) Born again committed Christian.
b) Protestant, evangelical background.
c) In complete agreement with LSVTM's statement of faith.
d) concerned for the advancement of the Christian faith through the ministry of LSVTM in the production and
publication of Christian literature, audio and video in the Serbian language both for the country of Serbia
and for Serbian speakers wherever found.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04919145 (England and Wales)

Registered Charity number
1102331

Registered office
33 Cambria Place
Swindon
Wiltshire
SN1 5DN

Trustees
J Cullis
S Gretton
V O'Sullivan

Company Secretary

Independent Examiner
Chris Vaughan
Accountants
195 Ermin Street
Swindon
Wiltshire
SN3 4NA

Approved by order of the board of trustees on 24 September 2024 and signed on its behalf by:





J Cullis - Trustee

Independent Examiner's Report to the Trustees of
LSVTM Limited

Independent examiner's report to the trustees of LSVTM Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.








Christopher Vaughan

Chris Vaughan
Accountants
195 Ermin Street
Swindon
Wiltshire
SN3 4NA

24 September 2024

LSVTM Limited

Statement of Financial Activities
for the Year Ended 31 December 2023

31.12.23 31.12.22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 962 852

Charitable activities
Gospel propagation 226 408

Investment income 2 60 15
Total 1,248 1,275

EXPENDITURE ON
Charitable activities
Gospel propagation 5,320 7,654

NET INCOME/(EXPENDITURE) (4,072 ) (6,379 )


RECONCILIATION OF FUNDS
Total funds brought forward 9,867 16,246

TOTAL FUNDS CARRIED FORWARD 5,795 9,867

LSVTM Limited (Registered number: 04919145)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 5 1 1

CURRENT ASSETS
Debtors 6 928 928
Investments 7 4,243 7,813
Cash at bank and in hand 960 1,456
6,131 10,197

CREDITORS
Amounts falling due within one year 8 (337 ) (331 )

NET CURRENT ASSETS 5,794 9,866

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,795

9,867

NET ASSETS 5,795 9,867
FUNDS 9
Unrestricted funds 5,795 9,867
TOTAL FUNDS 5,795 9,867

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.


LSVTM Limited (Registered number: 04919145)

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 24 September 2024 and were signed on its behalf by:





J Cullis - Trustee

LSVTM 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.

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.


Fixtures and fittings - 25% on cost

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
£    £   
Deposit account interest 60 15


LSVTM Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.


4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 852

Charitable activities
Gospel propagation 408

Investment income 15
Total 1,275

EXPENDITURE ON
Charitable activities
Gospel propagation 7,654

NET INCOME/(EXPENDITURE) (6,379 )


RECONCILIATION OF FUNDS
Total funds brought forward 16,246

TOTAL FUNDS CARRIED FORWARD 9,867

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023 and 31 December 2023 1,876
DEPRECIATION
At 1 January 2023 and 31 December 2023 1,875
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

LSVTM Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Gift aid claim 928 928

7. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Cash on deposit 4,243 7,813

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Accrued expenses 337 331

9. MOVEMENT IN FUNDS
Net
movement At
At 1.1.23 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund 9,867 (4,072 ) 5,795

TOTAL FUNDS 9,867 (4,072 ) 5,795

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 1,248 (5,320 ) (4,072 )

TOTAL FUNDS 1,248 (5,320 ) (4,072 )


Comparatives for movement in funds

Net
movement At
At 1.1.22 in funds 31.12.22
£    £    £   
Unrestricted funds
General fund 16,246 (6,379 ) 9,867

TOTAL FUNDS 16,246 (6,379 ) 9,867

LSVTM Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 1,275 (7,654 ) (6,379 )

TOTAL FUNDS 1,275 (7,654 ) (6,379 )

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 16,246 (10,451 ) 5,795

TOTAL FUNDS 16,246 (10,451 ) 5,795

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 2,523 (12,974 ) (10,451 )

TOTAL FUNDS 2,523 (12,974 ) (10,451 )

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.