LIGHTHOUSE INTERNATIONAL MINISTRIES LIGHTHOUSE INTERNATIONAL MINISTRIES REGISTERED CHARITh NUMBER . 1032201 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
LIGHTHOUSE INTERNATIONAL MINISTRIES LIGHTHOUSE INTERNATIONAL MINISTRIES REGISTERED CHARITY NUMBER ' 1032201 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
LIGHTHOUSE INTERNATIONAL MINISTRIES INDEX PAGE Page No. Contents Trustees Annual Report Independent Examlnars R8port Statement of Financial Activities Balanc8 Sheet 8-12 Notes to the Accounts 13-14 Income and Expendllure Account
LIGHTHOUSE INTERNATIONAL MINISTRIES Report of the trustees for the Year Ended 31 March 2024 The members of the Management Corrmittee (trustees) present their annual report for the Yaar Ended 31 st March 2024. The financial st8tem8nts hav8 b8en prepared in accordance with th6 accountin9 policles sel out in note 1 to th@ accounts and comply with the charity's Irust deed, the Charities Act 2011 and Accounting and Reportlng by Charlties., Statement of Recommended Practice Applicable to charitias preparing their accounts in accordance with thg Financial Reporting Standard Applicable in th8 UK and Républlc of Ireland published (FRS 1021 (effectSve 1 January 2015). Reference & Admlnlstratlve Infomiatlon The Charity The Charlty Is registered with the Charity Commissioners for England and Wales with r9gistration number 1032201, The Charity's addrèss is Lighthousa International Ministrias, 12 C8nt6nary Park, Coronet way, Eccles, Manchester, M50 1 RE. Data of registration: The Charity was registered with charities Commission on 2810111994 other Names: LIM (Old nam8) LIM UK (Working name) L l M (Wotl(ing nam81 Governing document: Trust d88d dated 17 Jan 1994, scheme of th8 charity Commissioners dal8d 15 March 2002. Trustees (Management Commitlee) The trustees who served on the Management Commlttee durlng the year were as follows:_ Mrs Joanne Marks Mrs Florence Hondriksz Mr Phil Clare Trustee Trustee Trustee Management Committee members are algcted or appointad onc& in ev6ry 2 y6ars, with th& officers being elected from the membership of the Management Commiltee. Management Team Lead Pastor: Shop Manager.. Finance officer Mr Paul Hallam Mrs Margaret Hallam Mrs Zuzana Austin Independent Examiner Ferguson & Co. 651 Mauldeth Road West, Chorlton, Manchester, M217SA Bankers The Charit8 bankers are: TSB Bank Tho Co-operative Bank Chortton Manchester Manchesler Obj8ctiv@s of the Organlsatlon Ob eclives',- Lighthouse International Ministries {LIMI is a network of Churches and individuals throughout Great Britain and Ireland that supports people and projects in Romania, India and Africa i.e. Children's homes youth Camps, L8prosy Missions. LIM'S heart is to strengthen, equip and facilitate indigenous people who have good ideas but have very limited resouroes.
LIGHTHOUSE INTERNATIONAL MINISTRIES Report of the trustees for the Year Ended 31 March 2024 (CONTINUE) The objecls of th8 charity are to benefit the peoples of the Eastem Europe, Africa and Asia by: A) the relied of poverty and hardship B) the advancement of education C) the preservation and protoclion of health and D) the promotion of the Chrlstlan Rellglon. Classification What: The preventlon or rellef of poverty Overseas aidlfamlne relief Religious activities Who.. Childrenlyoung people Elderly/Old people People with disabilities How: Makes grants to individuals Makes grants to organisallons Provldes human resources Provides buildingslfacilitieslopen spaces Sponsors or underiake res&arch Acts as umbrella or resource body Trustee Inductlon and Tralning New trustees undergo a period of induction for one week and get training In skllls relevant to them. Recruitment and Appoirttm8nt of Trustees This is done in the Annual General Meeting of the organisation. Noti is given to all members 21 days before the Annual General Meeting Risk Management The board of trustees have undertaken a risk review of the charivs affairs over the next financial year. The trustees have identified 8nd reviewed the major risks to whlch the charity15 exposed to and have established systems to mitigate those risks. Flnancial Review In the year to 31 Mar 2024 the charity had a total income of £133,696 {2023- £108,355) and total expenditure of £124,429 {2023- £144,047). This resulted in a net surplus for the year of £9267 (2022 - net deficit £-35682). During this period the charity have used reserves to maintain activity levels in the face of reductions in funding. At the end cf financial year restricted reserves stood at £12,991 (2023 £7,991). Reserves Policy The charitvs genaral ras8rves covar approximately 2 to 4 months running costs. The flnancial situation is under constant review by the board and it is to be hoped that grant making trusls and public donations will give a favourable response lo the charity's application for continued funding of its projects. Investment Policy Monies not r6quir&d for day to day working capital ara placed on deposil or in a deposit account paying a favourable rate of interest.
LIGHTHOUSE INTERNATIONAL MINISTRIES Report of the trustees for the Year Ended 31 March 2024 (CONTINUE) Trustees, Responslbllltles In relation to tho flnanclal statements The truste88 are responslble for preparing the Iruslees, annual report and the accounts In accordance with applicabl@ law and United Kingdom Accountlng Standards (Uniled Kingdom GenerallyAccepted Accounting Practica). Charities act in England & Wales require the trustees to prepare flnancial stalements for each financial year which give a true and fair view of the state of affairs of the charity and of th@ incoming resources and application of resources, including the Income and expenditure, of the charSty for that perS0d. In preparing tha accounts, th& trustees are required to.- selgct suitablé accounting policies and Ihen apply them consistently., observe the methods and principles in the Charlties SORP make judgements and estimates thal are reasonable and prudent. slate whether applicable UK Accounting Standards have been followed, subject to any mat8rial departures disclosed and explained in the financial ststements., prepar8 th8 financlal stat8m8nts on th8 going concem basis unless it Is Inappropriate to pr98ume that the charity will ¢onlinuo in business. The trustees are responsible for keeping adequate accountlng records which disclose with reasonabl8 accuracy, at any time, the financial posltion of the charity and to enable th@m to ensure that the accounts comply with the Charities Act 2011, the appllcable Charilies (Accounts and Raportsl Regulations, and the provision af th8 trust deed. They are also responsible for safeguardlng the assets of the charity and hence, for laking reasonable steps for the pVention and detection of fraud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER In so far as the trustees ar8 aware, there is no r81èvanl accounts information of which the charity's independent examiner is unaware,. and the trustees have taken all steps that they ought lo have taken lo make themselves aware of any relevant information and to establish that the independent ex8miner is aware of that information. On Behalf of the Board of Trust&@s' Management Commilla8-, Mrs Joanne Marks (Trustee) Mr Phil Clare (Tru5teel Date: 211IlL£
LIM TRUSTEES REPORT 202312024 Li We had another challenging but healthy year with donations up and Gift Aid steady. Shop sales, however, were down mainly due to a decrease in opening hours because of staffing shortages. This has been rectified now, so hopefully numbers will start to pick up. Lighthouse International Ministries Unit 12 Centenary Park Coronet Way Salford M50 IRE We supported a number of new charities delivering much needed aid to impoverished and vulnerable communities in India due to persecution and poverty. Tel-. +44 (01611786 1440 A fairly large increase in children's sponsorships and in educational sponsorships in India was very encouraging and we hope to build on this in the next few years. Our BACS programme had several sponsors last year, though we struggled to deliver the projects in time mainly due to some of the communities we are working with are persecuted for their faith and a great deal of sensitivity needs to be exercised. www.limuk.info Director Paul Hallam Trustees Jo Marks Philip Clare Florence Hendriksz Our Indian team leaders travelled to The USA on a co-sponsored basis. This proved a very good move. A good amount of networking being done by the team via zoom ensued and funds have been raised internationally too. These were sent directly to our team over in India bul ¢nabled some wonderful opportunities amongst the poorest people imaginable. Our director has visited these areas and compiled a full report of the results. Projects Manager Mags Hallam LIM Romania Mihai Lupu A renewed commitment in Romania on the work amongst the children there providing educational & domestic support. Obtaining other sources of support from USA and other European nations has helped immensely and we hope to build on this. Youth mission trip to Romania took place in August and was a great success. We also offloaded a now derelict property from our books in Romania as it was becoming more and more dangerous each year and has devalued greatly due to a number of factors. Market value was obtained. We as the trustees are confident the charity is in good health financially and had no liabilities. We met several times as trustees this particular year and saw evidence of good practice and ongoing progress and new ideas to advance LIM further lonvard. Signed: Date Mrs Joanne Marks For and on behalf of LIM Trustees Lighthouse Internotional Ministries is a UK registered charity No.. 1032201
Independent Examlner's Report to the Trustees of Llghthouse Intematlonal Ministries I report on the accounts of the company for the year ended 31 March 2024 which are set out on pages 6 to 14. Respèctlve responsibilltlas of trustses and examlner The charlty's trustees a responsible for the preparatlon of the accounts. The charity's trustees considerthat an audit is not required for thls year undersection 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The Gharity is preparlng accrued accounts and l am qualified to undertake examination by being a qualified member of the Association Of Chartefftd Certified Accountants. It is my SponSibl11tY to., examlne Ihe a¢Gount8 under seGtion 145 of the 2011 Act. follow the procedures laid down in thè general Directions given by the Charity Commission under 8edion 145(5)(b) of the 2011 Act. and stste whether particular matters have come to my attention. Basls of independent examiner's report My examination was carried out in accordance with the goner81 Directions given by the Charity Commlssion. An examinatlon Includes a revlew of the awountlng records kepl by the Charity and a comparison of the accounts presentedwith those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explan2tion8 from you as trustoes concemirvJ any such matters. The procedures undertaken do not provide all the evidence thatwould be required In an audit and consequently no opinion is given as to whether the accounts present a "true and fair Vie and the report is limited to those matters set out in the statement below. Independent examinerfs statsment In connection with my examination, no matter has come to my attention: which gives me rèasonable cause to believe that, in any material respect, the requirement8: to keep accounting records in accordance wilh section 130 of the 2011 Act,, and to prepare accounts which accord wlth the accounting records and comply with the accounting re rem ts of the 2011 Act have nol bee met., o to which, in my pinion jattention should be drawn in order to enable a proper understanding of the ac)Unt8 to be reached. Muhammad T yyab FCCA Ferguson & Co Chartered Certified Accountants 651 Mauldeth RL)ad West, Chorlton, Manchester. M217SA Dats:
LIGHTHOUSE INTERNATIONAL MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Year Ended 31.03.24 Total Funds Year Ended 31.03.23 Total Funds Restricted Income Funds Notes UnroStri¢t¢d Funds INCOMING RESOURCES Incoming Resourc8s from Genorated Funds.. Donations & Legacles Charitable Income other activities for generatlng funds Inv@stment income Gift aid r8bat8 Other Income 23,875 23,875 56,674 32,807 9,232 8,339 2.769 5,625 38,745 47,114 6,628 10,253 56,674 32,807 9,232 8,339 2,769 TOTAL INCOMING RESOURCES 77,022 56,674 133,696 108,365 RESOURCES EXPENDED Charitable Expenditure Support Cosl Governance Cosl (92,434) (92,4341 {31,5971 (398} 1108,6021 133,2441 (2,201) (31 ,597) (398) TOTAL RESOURCES EXPENDED {31,995) {92.434) {124,429) {144,047) NET INCOMING {OUTGOINGI RESOURCES BEFORE TFIANSFERS 45,027 (35,7601 9,267 {35,682) Transfer between funds 40,760 40,760 NET MOVEMENT IN FUNDS 4,267 5,000 9,267 (35,682) R8conciliation of Funds Total Funds BIFwd 26,250 7,991 34,241 89.923 Tolal Funds CIFwd 34,241 The statement of financial activities Includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities. The notes on pages 8 to 12 form part of these accounts.
LIGHTHOUSE INTERNATIONAL MINISTRIES BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Not@s FIXED ASSETS Tangible Fixed Assets 1.238 CURRENT ASSETS Debtors Cash at Bank Cash In Hand 6,000 36,257 13 42,270 43 34,214 34,265 LIABILITIES: Amounts falling due within one year (24) NET CURRENT ASSETS 42,270 34,241 NET ASSETS 43,508 34.241 ACCUMULATED FUNDS Unrestricled R8Strict8d Revenue 30,517 12,991 43.508 26,250 7,991 34,241 Approved on behalf of Ihe Trustees Management Commitlee and signed on the behalf Slgned Date,. £f(,I,
LIGHTHOUSE INTERNATIONAL MINISTRIES The notes on pages 8 to 12 form part of these accounts. NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basls of preparation and assessment of going concern The accounts (financial statemants) hav6 b8en pr6pared under Ihe historical cost convention with ilems recognised at cost or transactlon valu8 unless oth&Mise stated in Ihe relevant notes to these accounts, The financlal statements have been prepared in accordance with th8 Statement of Recommended Pra¢tlce.' Accounting and Reporting by Charitles preparlng thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} issued on 16th July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102) and th6 Charilies Acl 2011. The charity constitutes a public benefit entity as d9finod by FRS 102. The trustees consider that there are no materlal uncertalntles about the charity's ability to continue as a going concern. Fund Structure Unre5tricled funds are available for use al the discretion of the trustees in furtherance of the objectives of the charity. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds are subj8Cted to restrictions on Ih8ir @xpenditur@ imposed by the donor. Incomlng recognltlon All incoming resources are included In the statement of financial activities when th8 charity is entllled to the income and the amount can be quantified wlth reasonable accuracy, Th8 following specific policies are applled to partlcular categorles of income., Contracts. granls and investm8nt income are reflected in the accounts when recelved. Donations, gifts and other income are r8f18Cted in the accoun18 when received. Sales,Rent,Rags are the cash incomes generated through the charity shops, and are recorded as the cash sale Is made. In addition, monie5 received for specific purposes are set aside as "restricted funds" Expendlture re¢ognltion All expenditure other than that capltalised has boen reflected in the Statement of Financial Activities on an accruals basis as the liability Is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as parl of the expenditure lo which It relates. Charitable expenditur8 comprises those costs incurred by the charity in th8 delivery of its activities and servlces for Its beneflciaries. It includes both Costs that can be allocated direcly to such activities and those costs of an indlrect nature necessary to support them, Governance costs include Ihose costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strat8gic management of the charity. All costs are allocated beiween the exponditure categories of the SOFA on a basis designed to reflect the use of the resourco. Costs relating to a particular activity are allocated directly, oth8rs ara apportioned on an appropriate basis as set out in Note 3, Valuation, Capltallsatlon and Depreciation of Fixed Assots Additions of a singl8 i18m or a group of similar assets exceeding £500, are capitalised al cost. Depreciation Is provlded to write off the cost less the estimatgd rasidual value of langlble assets over their estimated useful lives as follows:. Molor Vehicles Furniture and Equipment 25 % on cost 25% on cost
LIGHTHOUSE INTERNATIONAL MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (CONTINUED) Taxatlon The organlsation Is exempt from income tax by reason of its Charitsbla status. Income tax suffered on investment income is reclaimed in full, The charity is not reglstered for VAT. INCOMING RESOURCES Unrestrlcted Restricted Income Income Funds Funds Total 2024 Tolal 2023 Donations & Legacies Charltable incom other activitiès for eneralln funds {income from shops) Investment income Gift aid rebate Flight compensation admin fees 23,875 23,875 56,674 5,625 38,745 56,674 32,807 9,232 8,339 2.769 32,807 9,232 8,339 2,769 47,114 6,628 10,253 77.022 56,674 133,696 108,365 Incomg from charilable activities Romania and Casa Lumini India Af rica One-off designation Aqap8 8,407 34,430 500 3,984 22,370 32 12,359 13,337 56,674 38,745
LIGHTHOUSE INTERNATIONAL MINISTRIES io NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 3 RESOURCES EXPENDED Unrestrlcted Restrlcted Funds Fund5 Total 2024 Total 2023 Charltable A¢tlvltles Casa Lumini Overseas organisations Qverseas individuals Travgl & Subslstenc8 Africa El Shaddi ethany ERI Agape church Roshni Nilaya Other equipments & supplies Appeals and others 2,535 5,50Q 4,729 10,857 7,978 13,001 2,535 4,604 5,500 27,400 4,729 5,450 10,857 11,887 7,978 7,600 13,001 10,045 1,000 12.707 24,605 254 3,25Q 15,593 30,870 1,371 15,593 30,870 1,371 Support Costs Employment Cosls Rent and Rates Gas, glactricity and wat8r Motor and Travel Insurance Printing,Postagg & Stalion8ry Misc purchases Legal C05t Telephone Repairs & Maintenance Advertising, Web & IT Depreciation 6.252 13.987 1,834 3,803 1,767 316 1,237 6,252 13,987 1,834 3,803 1.7E7 316 1,237 7,243 14,107 1,846 4,Q55 2,254 650 855 367 476 643 120 1,225 413 643 120 1,225 413 317 1,074 31,597 92,434 124,031 141,846 Governance Costs Bank Charges Accountancy & Audit 398 398 401 1,800 2,201 398 398 Total 31,995 92,434 124,429 144,047 Staff Costs: Wages and Salarles 6.252 7,243 No employee 8arned £60,000 p.a. or more, and no diractor was paid any r8muneralion. The av&rage number of employees,expressed as a full time equivalent was..
LIGHTHOUSE INTERNATIONAL MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REMUNERATION AND EXPENSES No remuneratlon directly or indirectly out of the funds of th8 charity was pald or payable during the year, to any trustee or to any persons known lo be connected wlth them. No reimbursement of expenses has been made or is due to be made to any of the trustees in respect cf the year. TANGIBLE FIXED ASSETS Motor Furnlture & Vehl¢le Equlpmenl Total COST At 31.3.23 Additions Disposals At 31.3.24 7,751 1,650 27,841 35,592 9,401 27,841 37,242 DEPFiECIATION At31.3.23 Charge Disposals At 31.3.24 7,751 412 27,841 35,592 412 8,163 27,841 36,004 NET BOOKVALUE At 31.3.24 1,238 At 31.3.23 2024 2023 CAPITAL COMMITMENTS Non& durlng Ihls year CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR LCC Control Account 24 24
LIGHTHOUSE INTERNATIONAL MINISTRIES 12 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS Balance 1 April Incoming 2023 Balance 31 March 2024 Transfer Outgolng RESTRICTED INCOME FUNDS Romania(CasaLumini&Lif8 C8ntl Bethanyllndia UK Organlsatlons Afrlca Agape other 7.991 8,407 34,430 7,093 21,933 (15,50Q} <51,363) 7,991 5,000 500 13,337 7,478 2,256 2,000 40,760 17,978) (15,593) 2,000 92,434 7,991 56,674 12.991 UNRESTRICTED FUNDS G8neral 26,250 77,022 (40,760} (31,995) 30,517 TOTAL FUNDS 34,241 133,696 1124.4291 43,508 GOING CONCERN The charlty's main source Df income is donation from publlc and from sales In charity shops. The trustees consider, having regard to reserves that il is appropriate to prepare the accounts on a going concern basis and, consequently, the accounts do not include any adjustments that would be n8cessary ifthe funding income should cease. 10 POST BALANCE SHEET EVENTS The Trustees do not consider that there have been any avgnts since tho balanc8 sheet date that significantly impact on Ihe financial statement 11 FINANCIAL INSTRUMENTS The charity only has flnancial assets and financial liabilities of a kind that qualify as basic financial instrumenls, Basi¢ financial instruments are initially recognised al transaction value and subsequently measured at their settlement value.
LIGHTHOUSE INTERNATIONAL MINISTRIES 13 Charlty Income and Expendlture For the year ended 31 March 2024 2024 2023 Restricted GSftslDonations Unrestricled GiftslDonations Investment income Other income Gift aid rebates 58,674 23,875 9,232 2,769 8,339 38,745 5,625 6,628 10,253 Gross Profit 100,889 61,251 Charitable Expendlture Overseas Org8nisalion Overseas Individual Casa Lumini & Romania Roshni Nllaya Af rica other equipments & supplies El Shaddi Bethany Agape Appeals and others 5,500 4,729 2,535 30,870 7,978 1,371 13,001 27,400 5.450 4,604 24,605 7,600 254 10,045 1.000 12,707 3,250 15,593 {81,5771 (96,9151 Admlnlstratlve Expondltur6 Travel and Subsistence Bank Charges Accountancy 10,857 398 11,687 401 1,800 11.255 13,888 Charity surplusl{deficit) 8,057 (49,552)
LIGHTHOUSE INTERNATIONAL MINISTRIES 14 Shop Income and Expenditure For Iho year ended 31 March 2024 2024 2023 Sales Rags and warehouse 31,825 982 45,459 1,655 Gross Profit 32,807 47,114 Admlnlstratlve Expense Wages Rent and rates Motor and travel expenses Prlnting, postage and station8ry Telephone Gas, electricity & waler Miscellaneous Legal cost Repairs and renewals Advertising & IT Cost Insurance Depreciation 6,252 13,987 3,803 316 643 1,834 1,237 7,243 14,107 4,Q55 650 476 1.846 855 367 317 1,074 2,254 120 1,225 1,767 413 (31,597} 133,244> Revenue surpluslldeficit) 1,210 13,870 Total surplusl{deflclt) 1,210 13,870