Charity number: 1091641 Company number: 05332363
(England and Wales)
Lighthouse Education Service
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 March 2021
Lighthouse Education Service Contents Page For the year ended 31 March 2021
| Report of the Trustees | 1 to 3 |
|---|---|
| Independent Examiner's Report to the Trustees | 4 |
| Statement of Financial Activities | 5 |
| Statement of Financial Position | 6 |
| Notes to the Financial Statements | 7 to 10 |
| Detailed Statement of Financial Activities | 11 |
Lighthouse Education Service Report of the Trustees
For the year ended 31 March 2021
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 March 2021. 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
ACHIEVEMENTS AND PERFORMANCE
A word of thanks
The trustees acknowledge that LES continues to serve its mission in changing and challenging times. This year our building was closed for some time and with new COVID restrictions, new innovative ways of serving our children and community needed to be found.
As in previous years, it's important to start by thanking all those whose commitment have contributed to yet another successful year in the work and ministry of Lighthouse Education Service (LES) - members of staff and trustees that help run our projects, the All Nations Centre, our local School partners and individual donors, and of course, our volunteers. Thank you. Without you LES would not be able to do the great work that we do in changing the life chances of children, young people and their families.
Looking ahead
The organisation is constant in its expectation that it has a bright and positive future. We are conscious that our changing world abounds with opportunities to connect with other partners and to strengthen the services we provide to children, young people and families. The commitment to making a significant difference in people's lives, which will in turn attract the attention of leaders and the community at large, will continue.
The vision remains unchanged: 'Reaching people; transforming lives'.
LES will continue to look to improve service in its current areas of operation, whilst seeking to meet needs in areas that are under-served and where we believe we can add value to what others are doing or do it better.
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Lighthouse Education Service Report of the Trustees Continued For the year ended 31 March 2021
FINANCIAL REVIEW
Financial review and reserve policy
During the year the charity received £45,827 (2020: £58,944) of incoming resources and expended £39,721 (2020: £60'920) .
Reserve policy
The trustees believe that the charity should hold in reserves a sufficient cushion of funds to enable it to continue to exists in a period of reduced income and, should it be necessary to cease to operate, wind up in an orderly fashion. The trustees consider the desirable level of reserves for this purpose to be a minimum of six months operating costs.
The trustees plan to generate annual operating surpluses in order to build reserves to this level.
RISK
A review of risk identification and management processes and procedure is currently undertaken. This will form the basis for review of Risk Management with the Projects. Risk is continually being discussed and policies and procedures are under constant review with risk in mind.
FINANCIAL REVIEW
Investment policy and objectives
The management committee has considered the most appropriate policy of investing funds and has found that at present, fixed deposit accounts meet the requirement to generate income. The management committee considers the returns for the year to be satisfactory and the policy is under constant review.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Organisational structure
Lighthouse Education Service (LES), a charitable company, is the community regeneration and social action arm of the All Nations' Centre (Apostolic Church). LES is the umbrella organisation that houses a range of education, childcare, youth and family-focused community services.
The focus remains that of consolidating and improving existing provision, whilst broadening the range of services on offer. Relevance, excellence in the quality of provision and sustainability remain the touchstone of everything we seek to do.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
LES acknowledges that the world is fast changing and the task of providing quality supplementary education, childcare and family -focused community services continue. 2020/21 has posed unique challenges due to COVID-19 and closures of public buildings and limitations on children settings.
The organisation has adapted incredibly well to the government requirements for Risk Assessments and the necessary Covid safeguards
Those familiar with the London borough of Lambeth or the immediate catchment area in which LES is located, would be acutely aware of the long-standing issues, challenges and needs that exist.
LES' projects are aimed at creating a cohesive and sustainable community, meeting the needs of children, young people and families. The range of services as mentioned before, covers childcare, a varied menu of youth support activities, community provision, as well as parental support.
LES aims to make a lasting difference to lives of children and families in the community through education, training, development and other life-enhancing initiatives.
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Lighthouse Education Service Report of the Trustees Continued For the year ended 31 March 2021
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity Lighthouse Education Service Charity registration number 1091641 Company registration number 05332363 Principal address Tyers Terrace London SE11 5LY
Trustees
The trustees and officers serving during the year and since the year end were as follows:
C Sackey J Faradoye Rev V Jibuike C Wilson H. Mbakwe J. Asuquo Rev. E Karikari Secretary C Wilson Independent examiners James Barnasco & Co 58 Perronet House Princess Street London SE1 6JS Bankers Lloyds TSB 182 High Street Walthamstow London E17 7JH
Approved by the Board of Trustees and signed on its behalf by
............................................................................. Rev V Jibuike
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Lighthouse Education Service Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2021
| Notes Income and endowments from: Donations and legacies 2 Charitable activities 3 Education Total Expenditure on: Charitable activities 4/5 Education Activity 10 Total Net income/expenditure Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 40,150 5,677 45,827 (39,221) (500) (39,721) 6,106 33,433 39,539 |
2020 £ 27,509 31,435 |
|---|---|---|
| 58,944 | ||
| (60,190) (500) |
||
| (60,690) | ||
| (1,746) 35,179 |
||
| 33,433 |
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05332363
Registered Number :
Lighthouse Education Service Statement of Financial Position
As at 31 March 2021
| Notes Fixed assets Tangible assets 10 Current assets 11 Debtors Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Net assets The funds of the charity Unrestricted income funds 13 Total funds |
£ 2021 533 533 10,203 40,156 50,359 (11,353) 39,006 39,539 39,539 39,539 39,539 |
£ 2020 168 |
|---|---|---|
| 168 | ||
| 14,767 42,988 |
||
| 57,755 | ||
| (24,490) 33,265 |
||
| 33,433 | ||
| 33,433 | ||
| 33,433 | ||
| 33,433 |
For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with
-
section 476,
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The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting
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records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Rev V Jibuike Trustee
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Lighthouse Education Service Notes to the Financial Statements For the year ended 31 March 2021
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Companies Act 2006.
Lighthouse Education Service meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Funds
Unrestricted funds can be used in accordance with the charitable objective at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity Restriction arise when specified by the donor or when funds are raised for particular restricted purposes.
Incoming resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Resources expended
Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure:
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery 25% Straight line Computer equipment 25% Straight line Fixtures and fittings 25% Straight line
2. Income from donations and legacies
| Unrestricted funds Donations received Grants received |
2020 2021 £ £ 3,850 1,720 23,659 38,430 27,509 40,150 |
|---|---|
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Lighthouse Education Service Notes to the Financial Statements Continued For the year ended 31 March 2021
3. Income from charitable activities
| Unrestricted funds Education Income from charitable activities osts of charitable activities by fund type Unrestricted funds Education Support costs osts of charitable activities by activity type Activities undertaken directly Education Activity 10 nalysis of support costs Governance costs |
2020 2021 £ £ 5,677 31,435 2020 2021 £ £ 60,190 39,221 500 500 60,690 39,721 2020 2021 £ £ 39,221 60,190 500 500 39,721 60,690 2020 2021 £ £ 500 500 |
|---|---|
4. Costs of charitable activities by fund type
5. Costs of charitable activities by activity type
6. Analysis of support costs
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Lighthouse Education Service Notes to the Financial Statements Continued
For the year ended 31 March 2021
7. Net income/(expenditure) for the year
This is stated after charging/(crediting):
Accountancy fees Staff pension contributions
| 2021 | 2020 |
|---|---|
| £ | £ |
| 500 | 500 |
| 841 | 811 |
8. Staff costs
Total staff costs for the year ended 31 March 2021 were:
| Salaries and wages Pension costs |
2021 £ 29,242 841 30,083 |
2020 £ 29,183 811 |
|---|---|---|
| 29,994 |
9. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
10. Tangible fixed assets
| Cost or valuation At 01 April 2020 Additions At 31 March 2021 Depreciation At 01 April 2020 Charge for year At 31 March 2021 Net book values At 31 March 2021 At 31 March 2020 |
Plant and machinery £ - 800 800 - 267 267 533 - |
Computer equipment £ 500 - 500 332 168 500 - 168 |
Total £ 500 800 |
|---|---|---|---|
| 1,300 | |||
| 332 435 |
|||
| 767 | |||
| 533 | |||
| 168 |
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Lighthouse Education Service Notes to the Financial Statements Continued For the year ended 31 March 2021
11. Debtors
| Amounts due within one year: Prepayments and accrued income Other debtors |
2021 2020 £ £ 436 - 9,767 14,767 10,203 14,767 |
|---|---|
12. Creditors: amounts falling due within one year
| Other creditors Accruals and deferred income |
2021 £ 1,363 9,990 11,353 |
2020 £ - 24,490 |
|---|---|---|
| 24,490 |
13. Movement in funds
| Unrestricted Funds General General Unrestricted Funds - Previous year General General |
Balance at 01/04/2020 £ 33,433 33,433 Balance at 01/04/2019 £ 35,179 35,179 |
Incoming resources £ 45,827 45,827 Incoming resources £ 58,944 58,944 |
Outgoing resources £ (39,721) (39,721) Outgoing resources £ (60,690) (60,690) |
Balance at 31/03/2021 £ 39,539 |
|---|---|---|---|---|
| 39,539 | ||||
| Balance at 31/03/2020 £ 33,433 |
||||
| 33,433 |
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Lighthouse Education Service Notes to the Financial Statements Continued For the year ended 31 March 2021
Purpose of unrestricted Funds
Voluntary Income Grants and Donations Investment income Interest receivable Incoming resources from charitable activities Charitable activities fees income Charitable Activities Charity expenses General Charities Income and expenses
14. Analysis of net assets between funds
| Unrestricted funds General General Previous year Unrestricted funds General General |
Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 533 39,006 39,539 |
|---|---|
| 533 39,006 39,539 |
|
| Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 168 33,265 33,433 |
|
| 168 33,265 33,433 |
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Lighthouse Education Service Detailed Statement of Financial Activities For the year ended 31 March 2021
| INCOME AND ENDOWMENT Donations and legacies Donations Grants receivable Charitable activities Income from charitable activities (Education) Total incoming resources EXPENDITURE Charitable activities Cost of direct charitable activity (Education) SUPPORT COSTS Governance costs Governance costs (Activity 10) Total resources expended Net Income |
£ 2021 1,720 38,430 40,150 5,677 5,677 45,827 (39,221) (39,221) (500) (500) (39,721) 6,106 |
£ 2020 3,850 23,659 |
|---|---|---|
| 27,509 31,435 |
||
| 31,435 | ||
| 58,944 (60,190) |
||
| (60,190) (500) |
||
| (500) | ||
| (60,690) | ||
| (1,746) |
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This page does not form part of the statutory financial statements