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REGISTERED NUMBER: 07521896 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024

FOR

EUROPEAN LEADERSHIP NETWORK

EUROPEAN LEADERSHIP NETWORK (REGISTERED NUMBER: 07521896)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


EUROPEAN LEADERSHIP NETWORK

COMPANY INFORMATION
FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024







DIRECTORS: Sir M Rifkind
Lord Browne of Ladyton
Lord Triesman of Tottenham
S Stefanini
P Vimont
T A Cronberg
A Palacio
S S Shetty
Prof. Z Alemdar
M Bellamy





REGISTERED OFFICE: 8 St James's Square
St James's
LONDON
SW1Y 4JU





REGISTERED NUMBER: 07521896 (England and Wales)





ACCOUNTANTS: Gilmour Hamilton
Chartered Accountants
37 Portland Road
KILMARNOCK
Ayrshire
KA1 2DJ

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
EUROPEAN LEADERSHIP NETWORK

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of European Leadership Network for the period ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of European Leadership Network, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of European Leadership Network and state those matters that we have agreed to state to the Board of Directors of European Leadership Network, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that European Leadership Network has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of European Leadership Network. You consider that European Leadership Network is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of European Leadership Network. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Gilmour Hamilton
Chartered Accountants
37 Portland Road
KILMARNOCK
Ayrshire
KA1 2DJ


27 January 2025

EUROPEAN LEADERSHIP NETWORK (REGISTERED NUMBER: 07521896)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,276 4,567

CURRENT ASSETS
Debtors 5 74,367 216,344
Cash at bank 105,490 399,119
179,857 615,463
CREDITORS
Amounts falling due within one year 6 578,092 320,894
NET CURRENT (LIABILITIES)/ASSETS (398,235 ) 294,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

(395,959

)

299,136

RESERVES
Income and expenditure account (395,959 ) 299,136
(395,959 ) 299,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which 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 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 company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





Lord Browne of Ladyton - Director


EUROPEAN LEADERSHIP NETWORK (REGISTERED NUMBER: 07521896)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024

1. STATUTORY INFORMATION

European Leadership Network is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in pound sterling (£) which is the functional currency of the company.

The financial statements are rounded to the nearest £.

Turnover
Turnover is a combination of both grant income and donations.

Grant income
This represents amounts receivable for grant income in the period under review.

Other income
This comprises of amounts received in respect of the provision of events and related content under the conditions of the grant income, research income and donations. This is recognised as soon as it is probable that the economic benefits will be received and the amount of income can be measured reliably.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Leasing commitments
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:


Fixtures and fittings 25% straight line

EUROPEAN LEADERSHIP NETWORK (REGISTERED NUMBER: 07521896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on a going concern basis as the directors believe that no material uncertainties exist.The directors have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements in arriving at this conclusion.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023 18,722
Additions 1,330
At 31 May 2024 20,052
DEPRECIATION
At 1 March 2023 14,155
Charge for period 3,621
At 31 May 2024 17,776
NET BOOK VALUE
At 31 May 2024 2,276
At 28 February 2023 4,567

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,776 215,522
Other debtors 5,591 822
74,367 216,344

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 26,000 24,707
Other creditors 552,092 296,187
578,092 320,894

EUROPEAN LEADERSHIP NETWORK (REGISTERED NUMBER: 07521896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MARCH 2023 TO 31 MAY 2024

7. LIMITED BY GUARANTEE

The company is limited by guarantee and therefore has no share capital. In the event of the company being wound up every member undertakes to contribute to the assets of the company, during the time he/she is a member, such as may be required not exceeding £10.