CHARITY REGISTRATION NUMBER: 1100896 The Lighthouse Foundation Unaudited Financial Statements 31 December 2023 JENNIONS MACKEN Institute of Financial Accountants Suite 1, Foundry House Widnes Business Park Waterside Lane Widnes Cheshire WA8 8GT
Page Trustees, annual report Independent examinerfs report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not fomi part of the financlal statements Detailed statement of financial activities 14 Notes to the detailed statement of financial activities 15 Final Accounts
The Lighthouse Foundation Trustees, Annual Report Year ended 31 December 2023 The Irustees presenl their report and Ihe unaudited financial statements of the charity for the year 8nded 31 December 2023. Reference and administratlve details Reglstered charity name The Lighthouse Foundation Charity registratlon number 1100896 Principal off Ice 71 Lugsdale Road Widnes Cheshire WA8 6BP The trustees MT P Holland Mr l Aitken Mr S Smith Mr S Greenow Independent examiner Mr l Jennions BA (Hons) FFA FIPA FFTA Suit8 1. Foundry House Waterside Lane Widnes Buslness Park Widnes Cheshire structure. governance and management The organisation was registered as a Charty on 26 November 2003 (No. 1100896) under a governing instrument dated 10 August 2003. The Chairman of the Management Council is one of the Leaders of The Foundry Community Church and the majorily of the rèmaining trustees are appointed by the oversight of The Foundry Community Church. The day to day management ofthe charity is carried out by Mr lan Aitken. Objectives and activltles The Trustees musl apply the income of the charity in furthering the following objects {"the objects >: The objects of The Lighthouse Foundation are to offer rehabilitation and educational de18ched work in schools and Ihe local communily. The Lighthouse Life Centre is a residential rehabilitation centre for recovering drug users. This offers a support structure to the clients and their families through mentoring and training in all aspects of an individual's life. The educalional aspecl of Ihe foundalion is to raise Ihe awareness of the many dangers surrounding a life of substance misuse and abuse. This is aGhieved through a positive and effeclive detached work within the local community ie schools, voluntary groups and other organisalions with the use of many multi-funclional facililies. Final Accounts
The Lighthouse Foundation Trustees. Annual Report (conllnued) Year ended 31 December 2023 Objectives and activities (¢onllnued) INVESTMENT POLICY The Twslees have the power to invest in such assets as they see fil subject nevertheless to such conditions and Gonsents as may for the time being be imposed or required by law. Surplus funds are invested with various institutions. RESERVES POLICY The Charity carries out a variety of bolh long lerm and short-term projects. The Trustees have examined the r8quiremenl for free reserves. which are those unreslricled funds not invested in fixed assets, designated for specific purposes or olherwise commilled. The Trustees consider that currently, given Ihe nature of our work, this should be approximately £5.000, which gives flexibility lo cover short term timing differences for grant claims and adequate working capital for our Gore costs. However, the Trustees keep this under rogular review as circumstances change. The free cash reserves al 31 December 2023 include a general reserve of £8,344 RISK MANAGEMENT The Trustees aclively review the major risks which the Charily faces on a regular basis and believe Ihat maintaining our free reserves at the leve15 Stated above, combined with our annual review of the controls over key financial systems. will provide sufficient resources in the event of adverse condilions. The Trustees have also examined other operational and business risks which we face and confirm Ihat Ihey have eslablished syslems to mitigate the significant risks. Achievements and performance The charity started the year off well, however, were beginning to fao some significant challenges around income due to the cost-of-living crisis. Throughout the year our team reduced to 1 full-time and 1 part-lime members of staff, due lo leam members leaving for personal reasons. The team continued lo work wilhin the new stTUCture and did a wonderful job.This alleviated some of Ihe financial pressures referred to above. However, the Trustees at this point concluded that Ihere were no credible candidates lo fill the vacant roles, and taking into accounl the financial outlook for Ihe charity over the last 6 10 12 months, that il would be prudenl lo pause the charities activilies and make the remaining slaff redundant. This look place on Ihe 30th September 2023. All remaining slaff were met with regarding this decision and any remaining students of Ihe lighthouse were helped with moving on accommodation where applicable. At the beginning of 2023 we started lo explore the options of meiging wilh one of our partner charilles that share our sile, Pentecostal Residencies Charity (PRC). Both board of Trustees were agreed that this should be investigated further. After seeking legal advice this was deemed lo be of mutual benefit if PRC were able to broaden their charitable objectives. Due to Ihe chair of both charities suddenly being hospitalised towards the eFbd of 2023 this process needed to be carried over into 2024. The Trustees are waiting for the completion of the merger with PRC before making any future decisions regarding the Lighthouse Foundation. We would like to express our thanks lo all our partners for their prayers. goodwill, and financial support and special thanks lo our volunteers who have generously given their time and skills. Final Accolints
The Lighthouse Foundation Trustees. Annual Report (eon£inuerfJ Year ended 31 December 2023 Financlal review The charity finances have performed reasonably well, resulting in a small surplus for the year, which has been in line with trustees. expeclations. Plans for future periods 1. Continue with the proposed merger with Pentecostal Residencies charity 2. Trusteed lo discuss future of charity On merger has taken place. BENEFITS TO THE PUBLIC The charity offers a residential rehabililation facilty for recovering drug users offering a support structu to the clients and their families Ihrough mentoring and training in all aspects of an individual's life. The charily also offers an educalional aspect to raise Ihe awareness of the many dangers surroundlng a life of substance misuse and abuse. This is achieved through a positive and effeclive delached work within Ihe local community ie schools. voluntary groups and olher organisalions with the use of many multl functional facilities. The Iruslèes, annual report was approved on . Iruslees by- L. and signed on behalf of the l)oard of Mr S Smllh Chair of Trustees Mr P Holland Trustee Final Accounts
The Lighthouse Foundation Independent Examiner's Report to the Trustees of The Lighthouse Foundation Year ended 31 December 2023 I report to the trustees on my examination of the financial statements of The Lighthouse Foundation {'th8 charity'l for the year ended 31 December 2023. Responsibllllies and basis of report A6 the trustees of the charily you are responsible for the preparation of the financial slatements in accordance with Ihe requirements of the Charities Act 2011 ('ihe Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying oul my examination I have followed all the applicable Directions given by the Chariiy Commission under section 145{5)Ib) of the Acl. Independent examlner's statement I have completed my examination. I confirm thal no material matters have come lo my attention in connection wilh Ihe examinalion giving me cause to believe thal in any material respect. accounting r8cords were not kepl in respecl of the charily as required by section 130 of the Act: or the financial statements do nol accord with those records: or the financial stalemenls do not comply with Ihe applicable requiiements concerning the form and content of accounts set oul in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thal the accounts give a 'true and fairf view which is not a matler considered as part of an independent examination. I have no concerns and have come across no other malters in connection with the examination lo which attention should be drawn in this report in ord8r lo enable a proper understanding of the accounts to be reached. Mr l Jennions BA (Hons) FFA FIPA FFTA Independent Examiner Suile 1, Foundry House Waterside Lane Widnes Business Park Widnes Cheshire WA8 8GT Final Accounts
The Lighthouse Foundation Statement of Financial Activities Year ended 31 December 2023 2023 Unrestricted funds Total funds Total funds 2022 Note Income and Èndowments Donations and legacies 93.951 93.9S1 148,177 Total inGome 93.951 93,951 148.177 Expenditure Expenditure on charitable activities Total expendlture 113,934 113.934 142,888 113.934 113,934 142,888 Net Incomellexpenditure) and net movement in funds (19,983) (19,983) 5,289 Reconciliation of fundg Total funds brought forward Total funds carried fonvard 310,927 290,944 310,927 305,638 290,944 310,927 The statemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Final Accounts
The Lighthouse Foundation Statement of Financial Position 31 December 2023 2023 2022 Note Fixed assets Tangible fixed assets 12 283,730 283.924 Current assets Debtors Cash at bank and in hand 13 3,921 27,106 8.344 31,027 Creditors: amounts falllng due wlthin on8 year 14 1.130 4,024 27,003 Net eurrent assets 7,214 290,944 290.944 Total assets lèss current liablllties 310,927 Net assets 310.927 Funds of the charlty Unrestricted funds 290,944 310,927 310,927 Total charlty funds 16 290.944 cial statements were approved by the Ixjard of trustees and authorised for issue on land are signed on behalf of the board by.- Mr P Holland Trustee Mr S Smith Trustee Final Accounts
The Lighthouse Foundation Notes to the Financial Statements Year ended 31 December 2023 General Information The charity is a public benefil entily and a registered charity in England and Wales and is unincorporated. The address of Ihe principal office is 71 Lugsdale Road. Widnes, Cheshire. WA8 6BP. ststement of complianGe These financial statements have been prepared in compliancè with FRS 102, The Financial Reporting Slandard applicable in the UK and the Republic of Ireland., Ihe Statement of Recommended Practice applicable to charities preparing their 8¢¢ounls in acGordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102) (Charilies SORP (FRS 102)) and the Charilies Act 2011. Accounting policies Basls of preparatlon The financial statements have been prepared on ihe hislorical cost basis. as modified by the revaluation of certain financial assels and liabilities and investment properties measured at fair value through income or expenditure. The financial statemenls are prepared in sterling. whi¢h is Ihe fvnclional curren¢y of the entity. Golng concern There are no material uncertainlies aboul the charily's ability to continue. Dlsclosure exemptlons The entity satisfies the critefl8 of being a qualifying entily as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. (a) No cash flow statement has been presenled for the company. (bl Disclosures in respect of financial instruments have nol been presenled. Judgements and key sources of estimallon uncertainty The pr8paration of the financial statements requires management lo make judgemenls, estimates and assumptions that affecl Ihe amounts reported. These estimates and judgements are continually reviewed and are based on experience and olher factors, including expectations of future events Ihal are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discrelion of the trustees lo further any of Ihe charity's purposes. Designated funds are unreslricted funds earmarked by the truslees for particular future project or commitment. Restricled funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of Iwo sub-classes.. iestricted income funds or endowmenl funds. Final Accounts
The Lighthouse Foundation Notes to the Financial Statements (conllnued) Year ended 31 December 2023 Accounting policies (¢onflnuedJ Incoming resources All incoming resources are included in the statement of financial activities when enlillemenl has passed to the Gharity.. Il is probable thal the economi¢ benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income= income from donations or grants is recognised when there is evidence of enlitlement to the glft, receipt is probable and ils amount can be measured reliably. legacy income is recognis8d when receipl is probable and enlillemenl is established. income from donated goods is measured at the fair value of the goods unless this is impraclical to measure reliably, in which Gase Ihe value is derived from the Gosl lo the donor or the eslimaled resale value. Donated facilities and services are recognised the accounls when re¢eived if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from conlracls for the supply of services is recognised with the delivery of th8 contracted service. This is classified as unrestricted funds unless there is a conlraclual requirement for it to be spent on a particular purpose and returned if unspent, in which case It may be regarded as restricted. Resources expended Expenditure is iecognised on an accruals basis as a liabilily is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which il relales: expenditure on raising funds includes the costs of 811 fundraising activities, events, non- charitable trading activities. and Ihe sale of donaled goods. expenditure on charitable activities includes all cosls incurred by a Charity in undertaking activities that further its charitable aims for the benefit of ils beneficiaries, including those support Gosts and cosls relaling to the governance of the charily apporiioned to charitable aclivilies. other expenditure includes all expenditure that is neither related to raising funds for Ihe charity nor part of ils expendilure on charitable activilies. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs atlributable to a single activity ale allocated directly to that activity. Shared Gosls are apportionod between the activities they contribute lo on a reasonable, juslifiable and consistent basis. Tangible asseis All fixed assets are initially recorded al cosl. Final AG¢ounts
The Lighthouse Foundation Notes to the Financial Statements fcontlny6d) Year ended 31 December 2023 Accounting policies (conllnued) Depreciation Deprecialion is calculated so as to wrile off the cost or valuation of an asset. less its residual value. over the useful economic life of that asset as follows= Building Improvements Motor Vehicles Equipmenl 2511h reducing balance 25°A reducing balance 250A reducing baLqnce Impalrment of fixed assets A review for indicators of impairmenl is carried out at each reporting date, with the recoverable amounl being eslimated where such indicalors exist. Where the carrying value exceeds thè recoverable amount, Ihe assel is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to eslimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of Ihe cash-generating unil lo which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and gener8tes cash inflows Ihal largely independent of Ihe cash inflows from other assets or groups of assels. For impairment testing of goodwill, the goodwill acqulred in a business combination is, from the acquisition date, allocated lo each of the cash-generating units that are expecled to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the Gharily are assigned to those units. Government grants Govemmenl grants are recognised at the fair value of Ihe a5sel received or receivable. Grants are not recognised until Ihere is reasonable assurance thal the charity will comply with the conditions attaching to them and Ihe grants will be received. Where th8 grant does not impose specifsed future performance-relaled conditions on the recipient, il is recognised in income when the gTant proceeds are received or receivable. Where the grant does impose specified future performance-related condilions on the recipienl. it is recognised In income only when the performance-relaled conditions have been mel. WheTe grants received are prior to Satisfying the revenue recognilion criteria. Ih8y are recognised as a liabilily. Financial Instruments Basic financial instwments are inilialty recognised al the amount receivable or payable including any related transaclion costs, unless the arrangement constitutes a financing transaGlion, where il is recognised at the presenl value of the future payments discounted al a market rate of inleresl for a similar debt instrument. Final Accounts
The Lighthouse Foundation Notes to the Financial Statements (contlnu¢d) Year ended 31 December 2023 Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Donations Housing Benefit Grounds MainlenanGe Income Other donations Rent Income Gift Aid Tax Received 72,001 15,840 6.090 72,001 1S,840 12,334 96,230 24,976 12,334 2,940 709 96,230 24,976 12,334 2,940 709 Grants Liverpool Charity & Voluntary seices Nalional Lollery Grant income 1,000 9,988 1,000 9,988 20 20 93.951 93,951 148,177 148,177 Expenditure on charitsble activlties by fund type Unrestricted Total Funds Unreslricled Total Funds Funds 2023 Funds 2022 Direct charitable aclivilies Support costs 112.702 1,232 113,934 112,702 1,232 141,172 1,716 141,172 1,716 142,888 113,934 142,888 Expenditurè on charlLible activitles by activity type Activilies undertaken directly Support Total funds costs 2023 Total fund 2022 Direct charitable activities Governance costs 112,702 112,702 1,232 141,172 1,716 1,232 1.232 112,702 113,934 142,888 Net in¢omel(expendlture) Nel incomel(expenditure) is stated after Chargin(crediting). 2023 2022 Depreciation of tangible fixed assets 194 278 Independent examlnation fees 2023 2022 Fees payable to the independenl examiner for.. Independent examinalion of the financial slalements 900 1,300 Final Accounts 10
The Lighthouse Foundation Notes to the Financial Statements (continuedj Year ended 31 December 2023 staff costs The average head count of employees during the year was 3 (2022.. 4). No employee received efnployee benefrts of more ihan £60,000 during Ihe year (2022.. Nil). 10. Trustee remuneration and expenses During Ihe year one of the trustees received remuneralion in his capacity as an employee of the charity in the amount of £23,798. 11. Transfers between funds The fund transfers represent the replacement of monies previousty paid from unreslricted funds but relating to restricted expendilure. 12. Tanglble fixed assetg Land and Fixtures and buildings fittings Motor vehicles Equipment Total Cost At 1 January 2023 and 31 December 2023 283,082 15,470 345 61,343 360,240 Dopreciallon At 1 January 2023 Charge for Ihe year At 31 December 2023 15,307 24 200 36 60,809 134 76,316 194 15.331 236 60,943 76,510 Carrying amount At 31 December 2023 At 310ecember 2022 283,082 139 109 401 283,730 283,082 163 145 534 283,924 13. Debtors 2023 2022 Trade debtors other debtors 3,265 656 3,921 14. Creditors: amounts falling due wlthln one year 2023 2022 Accruals and deferred incorne Social security and other taxes 1,130 2,430 1,594 1,130 4,024 Final Accounts
The Lighthouse Foundation Notes to the Financial Statements (¢onilnued) Year ended 31 December 2023 16. Govornment grants The amounts recognised in the financial slalements for government grants are as follows: 2023 2022 Recognised in income from donations and legacies- Government grants income 16. Analysis of charitable funds Unrestricted funds At 1 January 20 23 At 31 Decembe r 2023 Income Expenditure General funds 310.927 93,951 (113.934) 290,944 At 1 January 20 22 At 31 December 2022 Incom8 Expenditure General funds 305,638 148,177 (142,888) 310,927 17. Analysls of net assets between funds Unreslricled Total Funds Funds 2023 Tangibl6 fixed assels Current assets Creditors less than 1 year Net assets 283,730 8,344 (1,130) 290,944 283,730 8.344 {1,130) 290,944 Unrestricted Total Funds Funds 2022 Tangible fixed assels Current 2ssets Creditors less than 1 year 283,924 31,027 (4,024) 310,927 283,924 31,027 (4.024) 310,927 Net assets 18. Financlal instruments The charity currently holds no financial instruments. 19. Related parties The Charity is effectively controlled by The Foundry Church (charity no. 1174210) which also controls Pentecostal Residences Chatily (charily no. 1002396}. Rental costs of £16,200 were paid to Pentecostal Residences Charity forthe use of a bungalow and income of£15,840 was received from Pentecostal Residet7ces Charity in respect of ground maintenance. Final Accounts 12
The Lighthouse Foundation Management Information Year ended 31 December 2023 The followlng pages do not fomi part of the financlal statements. Final Accounts 13
The Lighthouse Foundation Detailed Statement of Financial Activities Year ended 31 December 2023 2023 2022 Income and endovmients Donations and legacies Housing Benefit Grounds Maintenance Income Other donations Rent Income Gift Aid Tax Received Liverpool Charity & Voluntary Services National Lottery Granl income 72,001 15,840 6,090 96,230 24,976 12,334 2,940 709 1,000 9,988 20 93,951 148,177 Total Income 93,951 148,177 Expenditure Expendlture on charitable activitles Wages and salaries Employerfs NIC Rent Rales and water Light and heal Repairs and maintenance Insurance Other eslabllshment Motor vehicle expenses Other motorllravel costs Legal and professional fees Telephone Other office costs Deprecialion Other interest payable and similar charges Donations and Misslonary 64.308 3.656 16,200 5,803 6,639 1,300 2,558 3,188 1,858 344 3,992 1,018 745 194 81 2,050 77,275 6.099 21,600 6,934 9,101 2,410 2,614 6.205 1,958 1.024 3.776 1,393 1,059 278 78 1,084 113,934 142,888 Total expenditure 113,934 142,888 Net Incomellexpendlture) (19,983) 5,289 Final Accounts 14
The Lighthouse Foundation Notes to the Detailed Statement of Financial Activities Year ended 31 December 2023 2023 2022 Expenditure on Gharitable actlvlties Direct charitsble activities Activities undertaken directly Wages and salaries Employerfs NIC Rent Rates and water Light and heal Repairs and maintenance Insurance Other establishment Motor vehicle expenses Other motornravel costs Legal and professional fees Telephone Other office costs Deprecialion Olher interest payable and similar charges Donations and missionary 64,308 3,656 16,200 5.803 6,639 1,300 2,558 3,188 1,858 344 2,760 1,018 745 194 81 2,OSO 112,702 77,275 6,099 21,600 6,934 9,101 2,410 2,614 6,205 1,958 1,024 2,tJ60 1,393 1,059 278 78 1,084 141,172 Governance costs Accountancy fees 1,232 1.716 Expendlture on charitable actlvltles 113,934 142,888 Final Accounts 15