REGISTERED COMPANY NUMBER: 05218144 (England and Wales) REGISTERED CHARITY NUMBER: 1110619
Report of the Trustees and
Audited Financial Statements for the Year Ended 31 August 2023
for
THE LIGHTHOUSE CHAPEL INTERNATIONAL
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Contents of the Financial Statements for the Year Ended 31 August 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 6 |
| Report of the Independent Auditors | 7 to 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Cash Flow Statement | 13 |
| Notes to the Cash Flow Statement | 14 |
| Notes to the Financial Statements | 15 to 22 |
| Detailed Statement of Financial Activities | 23 to 24 |
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Reference and Administrative Details for the Year Ended 31 August 2023
TRUSTEES C Amaning (resigned 15.6.23) J Baiden E Ansa - Asamoah Mrs A Rodman-Tay (appointed 21.9.23) COMPANY SECRETARY J Hyde REGISTERED OFFICE 2A Carden Road Nunhead London SE15 3UD REGISTERED COMPANY 05218144 (England and Wales) NUMBER REGISTERED CHARITY 1110619 NUMBER SENIOR STATUTORY Muhammad Imran Ashraf AUDITOR INDEPENDENT AUDITORS Sigma Chartered Certified Accountants & Registered Auditors Kelvin House Kelvin Way Crawley West Sussex R10 9WE
Page 1
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Report of the Trustees for the Year Ended 31 August 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The advancement of the Christian religion.
Page 2
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Report of the Trustees for the Year Ended 31 August 2023
OBJECTIVES AND ACTIVITIES
Furthering the Objectives
The charity requires that all bone fide members must be born again Christians, who publicly and openly profess to have consciously and willingly accepted Jesus Christ as Lord and Saviour of their lives.
The charity shall be maintained and operated by means of contributions from members, private individuals, organisations or associations who share the objectives and aspirations of the charity and from revenues derived from its assets or business. All donations and contributions are non-refundable and shall be disbursed as the trustees see fit.
A member may be dismissed or excluded at any time if it is in the interest of the charity. On the dismissal or exclusion of a member, the latter cannot make claims to any of the charity's assets, possessions or funds no matter the extent or amount of donations and contributions ever made to the charity.
The charity requires that all members believe that all activities of their lives must be guided and directed aright by the Word of God, which is the Bible.
Every member of the charity shall be free to leave the charity at any time.
All Leaders of any kind or occupying whatsoever position shall have a higher requirement and responsibility and must fulfil the following five (5) rules for leadership within the charity. They must: -
-
Be unambiguous bona fide born again Christians;
-
Be filled with the Holy Ghost and speak in Tongues;
-
Demonstrate a character above reproach;
-
Believe in and adhere to the Founding Ideals, viz. the Vision, Doctrines, Principles, Philosophy, Practices, Standards, and Spirit of the Ministry of the charity, and
-
Have unflinching loyalty to the charity.
The charity aims to achieve its objective of preaching the Word of God through regular Sunday church meetings as well as two mid-week services.
There are special one-off programmes such as conventions where visiting ministers are invited to preach and minister the Word of God. Members are also trained to live morally upright lives and be good examples in the communities in which they live.
The charity serves to provide a means through which people can seek God and lead lives based on sound Christian doctrine.
The main church has a choir that spreads the Gospel of Jesus Christ through Gospel concerts and singing during regular Church services.
Pastoral care coordinators continue to offer one-on-one support and counselling to members and non-members of the church. These range from marriage counselling to dealing with bereavement, finding life partners, issues of abandonment and abuse, depression, illnesses, old age, debt, children, spiritual guidance and prayer. The tele-pastoring team also provide immediate confidential prayer support to both members and non-members. This makes a huge difference in the lives of many of the most vulnerable members.
Page 3
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Report of the Trustees for the Year Ended 31 August 2023
OBJECTIVES AND ACTIVITIES
The Youth group continues to bring the life changing message of Jesus Christ to the young people in the various councils. 'Wacenters', which is a coined word for WhatsApp groups, which has continued to thrive.
The Remember The Poor ministry continues praying for the homeless in groups throughout the week.
The Prison Ministry makes weekly visits to prisons for preaching and fellowship.
STRATEGIC REPORT
Principal funding sources
The charity is maintained and operated by means of contributions from members, private individuals, organisations or associations that share the objectives and aspirations of the charity and from revenues derived from its assets or business. All donations and contributions are non-refundable and shall be disbursed as the trustees see fit.
Investment policy and objectives
The trustees are of the opinion that the performance of the charity from a financial standpoint is in line with their expectations and plans for the charity.
The trustees are pleased with the performance of the investment properties during the year under review.
The charity does not currently analyse its funds into different classes or categories. All the funds are maintained in a single general fund.
Future plans
The trustees plan to grow the membership from its present level and will continue to focus on refining and developing existing operations to the highest possible standards.
Regarding the financial position of the charity, the trustees are pleased both at the balance sheet date and at the date of the trustees' report. The outlook for the continued operations of the charity remains good.
The Trustees confirm that in their opinion: -
Adequate assets are available to fulfil the obligations of the charity, having regard to any likely delays or shortfalls in realising assets into cash.
No commitments or guarantees have been undertaken, other than those disclosed in the accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The governing document of the charity is the Memorandum and Articles of Association of the company, limited by guarantee 'The Lighthouse Chapel International'.
Organisational structure
The charity is managed and controlled by the trustees, who are also members of the Council of Management as described in the governing document. Currently all trustees are also directors of the company limited by guarantee.
Trustees meet at least four times a year to make management and policy decisions.
Page 4
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Report of the Trustees for the Year Ended 31 August 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Related parties
The trustees are of the opinion that no related party transactions took place during the year under review.
Engagement with suppliers, customers and others
Using the original teachings of Jesus the charity seeks to enable relief from physical, mental and spiritual suffering. Complete and balanced development of mind body and soul resulting from Christian Fellowship and communion will ensure that members and the wider community will continue to benefit from the positive impact of the charity in their lives for the years to come.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of The Lighthouse Chapel International for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Muhammad Imran Ashraf, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Page 5
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Report of the Trustees for the Year Ended 31 August 2023
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 29 May 2024 and signed on the board's behalf by:
J Baiden - Trustee
Page 6
Report of the Independent Auditors to the Members of The Lighthouse Chapel International
Opinion
We have audited the financial statements of The Lighthouse Chapel International (the 'charitable company') for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Page 7
Report of the Independent Auditors to the Members of The Lighthouse Chapel International
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 8
Report of the Independent Auditors to the Members of The Lighthouse Chapel International
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant are those that relate to:
-
Companies Act 2006;
-
Accounting and Reporting by Charities: Statement of Recommended Practice;
-
Financial Reporting Standard 102;
-
Data protection laws (including UK General Data Protection Regulation (GDPR)), and
-
Fundraising regulations for charities.
Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.
We assessed the risks of material misstatement in respect of fraud by enquiry of:
-
Management;
-
Those charged with governance, and
-
Others responsible for risk or compliance procedures.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 9
Report of the Independent Auditors to the Members of The Lighthouse Chapel International
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Muhammad Imran Ashraf (Senior Statutory Auditor) for and on behalf of Sigma Chartered Certified Registered Auditors Kelvin House Kelvin Way Crawley West Sussex R10 9WE
29 May 2024
Sigma Accountants Limited
Page 10
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Statement of Financial Activities for the Year Ended 31 August 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Kenya Church Building Pentecostal World Fellowship Gift Ukrain relief Global missions Anagkazo Bible and Ministry Training Centre Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ 1,131,178 118,465 1,249,643 1,104,678 - 2,052 - - 134,907 1,241,637 8,006 4,420,827 4,428,833 |
2022 Total funds £ 1,058,816 111,066 1,169,882 1,381,497 7,414 1,480 4,251 5,000 - 1,399,642 (229,760) 4,650,587 4,420,827 |
|---|---|---|
The notes form part of these financial statements
Page 11
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Balance Sheet 31 August 2023
| Notes FIXED ASSETS Tangible assets 11 Investment property 12 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 14 NET ASSETS FUNDS 15 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 2,042,545 1,911,999 3,954,544 507,545 (33,238) 474,307 4,428,851 (18) 4,428,833 4,428,833 4,428,833 |
2022 Total funds £ 2,127,473 1,911,999 4,039,472 415,206 (33,833) 381,373 4,420,845 (18) 4,420,827 4,420,827 4,420,827 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 29 May 2024 and were signed on its behalf by:
J Baiden - Trustee
The notes form part of these financial statements
Page 12
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Cash Flow Statement for the Year Ended 31 August 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2023 £ 113,259 113,259 (21,308) 388 (20,920) 92,339 415,206 507,545 |
2022 £ (34,807) (34,807) (185,060) 33 (185,027) (219,834) 635,040 415,206 |
|---|---|---|
The notes form part of these financial statements
Page 13
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Notes to the Cash Flow Statement for the Year Ended 31 August 2023
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| OPERATING ACTIVITIES | ||
|---|---|---|
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Decrease in debtors (Decrease)/increase in creditors Net cash provided by/(used in) operations |
2023 £ 8,006 106,236 (388) - (595) 113,259 |
2022 £ (229,760) 126,722 (33) 57,000 11,264 |
| (34,807) |
2.
ANALYSIS OF CHANGES IN NET FUNDS
| At 1.9.22 | Cash flow | At 31.8.23 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 415,206 | 92,339 | 507,545 |
| 415,206 | 92,339 | 507,545 | |
| Total | 415,206 | 92,339 | 507,545 |
The notes form part of these financial statements
Page 14
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Notes to the Financial Statements for the Year Ended 31 August 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Tangible fixed assets are stated at the lower of cost and net realisable value. Depreciation is normally provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:
Fixtures, fittings and equipment - 25% Reducing balance
Freehold land and buildings - Depreciated over a useful life not exceeding 50 years
Investment property
Investment property is shown at fair value.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 15
continued...
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
| Donations 3. INVESTMENT INCOME Rents received Deposit account interest 4. RAISING FUNDS Raising donations and legacies Support costs 5. CHARITABLE ACTIVITIES COSTS Pentecostal World Fellowship Gift Anagkazo Bible and Ministry Training Centre |
2023 £ 1,131,178 2023 £ 118,077 388 118,465 2023 £ 1,104,678 |
2022 £ 1,058,816 2022 £ 111,033 33 111,066 2022 £ 1,381,497 Grant funding of activities (see note 6) £ 2,052 134,907 136,959 |
|---|---|---|
Page 16
continued...
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
6. GRANTS PAYABLE
| Kenya Church Building Pentecostal World Fellowship Gift Ukrain relief Global missions Anagkazo Bible and Ministry Training Centre 7. SUPPORT COSTS Raising donations and legacies 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Management £ 1,104,041 |
2023 £ - 2,052 - - 134,907 136,959 Finance £ 637 2023 £ 106,236 |
2022 £ 7,414 1,480 4,251 5,000 - 18,145 Totals £ 1,104,678 |
2022 £ 7,414 1,480 4,251 5,000 - |
|
|---|---|---|---|---|---|
| 18,145 | |||||
| 2022 £ 126,722 |
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
continued...
Page 17
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
10. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Wages and salaries Other pension costs |
2023 £ 414,478 6,799 421,277 |
2022 £ 423,105 6,609 |
| 429,714 |
The average monthly number of employees during the year was as follows:
| Ministry Administrative |
2023 1 5 6 |
2022 1 5 |
|---|---|---|
| 6 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| £60,001 - £70,000 £100,000 - £110,000 |
2023 2 1 3 |
2022 2 1 |
|---|---|---|
| 3 |
continued...
Page 18
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
11. TANGIBLE FIXED ASSETS
| COST At 1 September 2022 Additions At 31 August 2023 DEPRECIATION At 1 September 2022 Charge for year At 31 August 2023 NET BOOK VALUE At 31 August 2023 At 31 August 2022 COST At 1 September 2022 Additions At 31 August 2023 DEPRECIATION At 1 September 2022 Charge for year At 31 August 2023 NET BOOK VALUE At 31 August 2023 At 31 August 2022 |
Freehold property £ 1,461,895 - 1,461,895 147,360 29,823 177,183 1,284,712 1,314,535 Fixtures and fittings £ 73,320 - 73,320 34,600 9,680 44,280 29,040 38,720 |
Improvements to property £ 641,842 - 641,842 61,905 12,836 74,741 567,101 579,937 Motor vehicles £ 18,970 - 18,970 10,967 2,001 12,968 6,002 8,003 |
Plant and machinery £ 460,890 21,308 482,198 274,612 51,896 326,508 155,690 186,278 Totals £ 2,656,917 21,308 2,678,225 529,444 106,236 635,680 2,042,545 2,127,473 |
|---|---|---|---|
continued...
Page 19
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
12. INVESTMENT PROPERTY
£
| 12. INVESTMENT PROPERTY |
£ | £ | £ |
|---|---|---|---|
| FAIR VALUE At 1 September 2022 and 31 August 2023 NET BOOK VALUE At 31 August 2023 At 31 August 2022 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Trade creditors 5,468 Social security and other taxes 11,002 Pension contributions payable 1,268 Accrued expenses 15,500 33,238 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 £ Other creditors 18 15. MOVEMENT IN FUNDS Net movement At 1.9.22 in funds £ £ Unrestricted funds General fund 4,420,827 8,006 TOTAL FUNDS 4,420,827 8,006 |
1,911,999 | ||
| 1,911,999 | |||
| 1,911,999 | |||
| 2022 £ 6,642 11,620 1,471 14,100 33,833 2022 £ 18 At 31.8.23 £ 4,428,833 |
2022 £ 6,642 11,620 1,471 14,100 |
||
| 33,833 | |||
| 2022 £ 18 |
|||
| 4,428,833 |
continued...
Page 20
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
15. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 1,249,643 1,249,643 At 1.9.21 £ 4,650,587 4,650,587 as follows: Incoming resources £ 1,169,882 1,169,882 |
Resources expended £ (1,241,637) (1,241,637) Net movement in funds £ (229,760) (229,760) Resources expended £ (1,399,642) (1,399,642) |
Movement in funds £ 8,006 8,006 At 31.8.22 £ 4,420,827 4,420,827 Movement in funds £ (229,760) (229,760) |
|---|---|---|---|
continued...
Page 21
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.21 £ 4,650,587 4,650,587 |
Net movement in funds £ (221,754) (221,754) |
At 31.8.23 £ 4,428,833 |
|---|---|---|---|
| 4,428,833 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 2,419,525 2,419,525 |
Resources expended £ (2,641,279) (2,641,279) |
Movement in funds £ (221,754) (221,754) |
|---|---|---|---|
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
17. ANALYSIS OF FUNDS
£
Realised funds 2,941,676 Revaluation reserve 44,000 ____ Total funds 2,985,676
Page 22
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Detailed Statement of Financial Activities for the Year Ended 31 August 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Rents received Deposit account interest Total incoming resources EXPENDITURE Charitable activities Grants to institutions Support costs Management Wages and salaries including social security Pensions Rates Insurance Light, heat and water Postage and Telephone Legal and professional ICT Audit fee Accountancy fee Ministry and evangelism Repairs and maintenance Rent Freehold property Improvements to property Plant and machinery Equipment Motor vehicles |
2023 £ 1,131,178 118,077 388 118,465 1,249,643 136,959 414,478 6,799 6,051 7,908 33,103 3,564 37,550 3,353 4,500 11,000 168,425 272,600 28,474 29,823 12,836 51,896 9,680 2,001 1,104,041 |
2022 £ 1,058,816 111,033 33 |
|---|---|---|
| 111,066 | ||
| 1,169,882 18,145 423,105 6,609 6,218 6,022 20,068 1,994 59,280 2,407 4,100 10,000 261,248 425,695 27,369 29,823 12,836 68,490 12,906 2,667 |
||
| 1,380,837 |
This page does not form part of the statutory financial statements
Page 23
THE LIGHTHOUSE CHAPEL INTERNATIONAL
Detailed Statement of Financial Activities for the Year Ended 31 August 2023
| Management Finance Bank charges Total resources expended Net income/(expenditure) |
2023 £ 637 1,241,637 8,006 |
2022 £ 660 1,399,642 (229,760) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 24