29th May 2010 – 28th May 2011- Annual Accounts
Little Stars was 4 years old on the 29th May 2011 and we are now into our fifth year of operation. In that time we have achieved more than we could initially ever have thought possible. Total donations for the four years stands at £238,496 of which £30,867 is still held in charity’s bank accounts. £5,000 of this sum has come from a specific donation which is earmarked for the purchase of a vehicle.
In four years, just over £200,000 has been spent on projects and expenses have never exceeded the 15% limit imposed by the trustees. It is always impossible to see what the future holds so we intend to keep at least six months running costs in reserve and to build on this sum as much as we can. 2010–2011 was a year of growth 2011-2012 will be a year of consolidation. The accounts for 2010-2011 have been completed and will be uploaded on to our website for inspection as soon as they are approved by the external assessor. Donations received in the year totalled £67,134 which was lower than last year but was to be expected in the present economic depression.
However, due to the development of new projects and a change in accounting procedures, expenditure did exceed income by £8,308 which includes a charge for depreciation of assets. From the 1st January 2011 all assets, no matter how costly, have been written off in the year that they were bought instead of having the cost spread over several years. This change was made so that we can return to the simplified Income and Expenditure type of accounts advised by the Charity Commission. All remaining Fixed Assets will be written off next year. As in previous years Little Stars concentrated on the Relief of Poverty (£26,992), Health (£12,367) and Education (£23,216) with Relief of Poverty having the greatest level of expenditure.
Education Expenditure covered the cost of running the Nursery School, buying school uniforms and buying equipment for the new training centre, including the installation of sewing machines and a complete IT suite of computers. Expenditure on health covered the cost of running the three clinics and purchasing new equipment including a computerised physiotherapy machine (£1,058). Wheelchairs and other mobility items were also bought and distributed throughout the year.
Relief of Poverty includes the cost of the food items delivered to our sponsored families and also includes the cost of completely rebuilding houses, installing basic sanitation and water supplies, repairing roofs, laying concrete floors and purchasing beds, mattresses, fridges and cookers. All of which benefitted village children by trying to raise their standard of living. There are now close to 350 children in our care and all of them have been clothed twice in the last year.
Some expenditure was necessitated by the changed situation in Luxor. Iron gates were installed on all five doors which have access to public areas. There is still a lack of police presence in Luxor and a consequent rise in robberies many of which involve the use of firearms. Although we are a community service and have received no threats we still thought it better to be prepared and take the necessary security precautions.