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 2023
Lighthouse Education Service Contents Page For the year ended 31 March 2023
| 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 11 |
Lighthouse Education Service Report of the Trustees
For the year ended 31 March 2023
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 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 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
On behalf of the Board and Lighthouse Education Service, I would like to acknowledge the achievements of our people this year in delivering our vision to reach people and transform lives.
The Lighthouse Afterschool Club continues to go from strength to strength, and is now the preferred place for parents looking for a good local after school provision. The pastoral initiatives and unique after school care combined with homework assistance has resonated greatly with families who depend on this service.
With our significant experience in transforming lives, we also see the Lighthouse Hand Out project reaching vulnerable individuals with much needed support. The Lighthouse First Stop project is still delivering services to people in need.
Our organisation is very different to what it was historically. Our projects are less in number but our staffs have invested in the existing projects with increased outcomes for marginalized and vulnerable individuals and families in the community. We have seen external acknowledgement of the transformation in people's lives as a result of our projects.
While we remain optimistic about growth and improvement in our performance, there is the ongoing potential for volatility from rising cost of living, funding shortfalls and fluctuating volunteer support. We are closely monitoring these areas and we are prepared for a wide range of scenarios.
Today our unique capability to serve our community is fuelled by our people and our culture, our performance, and finally our focus on strong governance. Our heritage and the relationships we have built over the last decade or so are very important to us.
Lighthouse's capabilities are unique and critical to Kennington and Vauxhall communities. We are well positioned and ready to assist the families who live here.
Our success is a testament to the dedication of our board, managers and staff who are committed to improving positive outcomes to vulnerable communities. We are immensely grateful to them.
We look forward to turning challenges into opportunities, familiarity into innovation. We are partnering with our customers, communities and stakeholders to become the changemakers the world needs now, to turn our shared ambition of reaching people and transforming lives into a reality.
In closing, I would like to express our gratitude to the All Nation Centre leadership and members, our local community, for your continued support, to our directors, managers, customers, partners and importantly, our people. We thank almighty God for His continued favour and blessings upon these projects, without which none of this would be possible. Thank you.
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Lighthouse Education Service Report of the Trustees Continued For the year ended 31 March 2023
FINANCIAL REVIEW
Financial review and reserve policy
During the year the charity received £43,713 (2022: £44,863) of incoming resources and expended £54,543 (2022: £47,309) .
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.
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
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Lighthouse Education Service Report of the Trustees Continued For the year ended 31 March 2023
Trustees
The trustees and officers serving during the year and since the year end were as follows:
| Trustees The trustees and officers serving during the year and since the |
year end were as follo |
|---|---|
| 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 | |
| ............................................................................. | 29 March 2023 |
| Rev V Jibuike |
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Lighthouse Education Service Independent Examiners Report to the Trustees
For the year ended 31 March 2023
I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity Trustees, who are also directors for the purposes of company law, 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 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 examiners 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 that in any material respect:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the 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
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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.
James Barnasco & Co 58 Perronet House Princess Street London SE1 6JS
30 March 2024
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Lighthouse Education Service Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2023
| 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 expenditure Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 24,168 19,545 43,713 (54,043) (500) (54,543) (10,830) 29,093 18,263 |
2022 £ 24,880 19,983 |
|---|---|---|
| 44,863 | ||
| (46,809) (500) |
||
| (47,309) | ||
| (2,446) 31,539 |
||
| 29,093 |
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05332363
Registered Number :
Lighthouse Education Service Statement of Financial Position
As at 31 March 2023
| 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 |
£ 2023 517 517 - 15,221 15,221 (1,475) 13,746 14,263 14,263 14,263 14,263 |
£ 2022 517 |
|---|---|---|
| 517 | ||
| 3,179 35,564 |
||
| 38,743 | ||
| (10,167) 28,576 |
||
| 29,093 | ||
| 29,093 | ||
| 29,093 | ||
| 29,093 |
For the year ended 31 March 2023 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 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 29 March 2023
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Lighthouse Education Service Notes to the Financial Statements For the year ended 31 March 2023
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).
Going concern
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 |
2022 2023 £ £ 3,455 1,090 21,425 23,078 24,880 24,168 |
|---|---|
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Lighthouse Education Service Notes to the Financial Statements Continued
For the year ended 31 March 2023
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 Grant funding of activities Education Activity 10 |
Grant funding of activities Activities undertaken directly £ £ 3,254 50,789 - - 50,789 3,254 |
2022 2023 £ £ 19,545 19,983 2022 2023 £ £ 46,809 54,043 500 500 47,309 54,543 2022 2023 £ £ 54,043 46,809 500 500 54,543 47,309 |
|---|---|---|
4. Costs of charitable activities by fund type
5. Costs of charitable activities by activity type
6. Analysis of support costs
Governance costs
----- Start of picture text -----
2023 2022
£ £
500 500
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500
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Lighthouse Education Service Notes to the Financial Statements Continued
For the year ended 31 March 2023
7. Net income/(expenditure) for the year
This is stated after charging/(crediting):
Accountancy fees Staff pension contributions
| 2023 | 2022 |
|---|---|
| £ | £ |
| 500 | 500 |
| 807 | 769 |
8. Staff costs
Total staff costs for the year ended 31 March 2023 were:
| Salaries and wages Pension costs STAFF |
2023 £ 29,087 807 29,894 2023 3 3 |
2022 £ 29,150 769 |
|---|---|---|
| 29,919 | ||
| 2022 3 |
||
| 3 |
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 2022 At 31 March 2023 Depreciation At 01 April 2022 At 31 March 2023 Net book values At 31 March 2023 At 31 March 2022 |
Plant and machinery £ 1,302 |
|---|---|
| 1,302 | |
| 785 | |
| 785 | |
| 517 | |
| 517 |
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Lighthouse Education Service Notes to the Financial Statements Continued For the year ended 31 March 2023
| 11. Debtors Amounts due within one year: Other debtors 12. Creditors: amounts falling due within one year Other creditors Accruals and deferred income 13. Movement in funds Unrestricted Funds General General Unrestricted Funds - Previous year General General |
Balance at 01/04/2022 £ 29,093 29,093 Balance at 01/04/2021 £ 31,539 31,539 |
Incoming resources £ 43,713 43,713 Incoming resources £ 44,863 44,863 |
Outgoing resources £ (54,543) (54,543) Outgoing resources £ (47,309) (47,309) |
2023 £ - - 2023 £ 927 548 1,475 Transfers £ (4,000) (4,000) Transfers £ - - |
2022 £ 3,179 |
|---|---|---|---|---|---|
| 3,179 | |||||
| 2022 £ 927 9,240 |
|||||
| 10,167 | |||||
| Balance at 31/03/2023 £ 14,263 |
|||||
| 14,263 | |||||
| Balance at 31/03/2022 £ 29,093 |
|||||
| 29,093 |
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Lighthouse Education Service Notes to the Financial Statements Continued For the year ended 31 March 2023
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 £ £ £ 517 13,746 14,263 |
|---|---|
| 517 13,746 14,263 |
|
| Tangible fixed assets Net current assets / (liabilities) Net Assets £ £ £ 517 28,576 29,093 |
|
| 517 28,576 29,093 |
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