Registered Charity Number 1123190
Registered Company Number 06435205
Lighthouse Outreach Ministries
Report and Accounts
For The Year Ended
31 December 2021
Lighthouse Outreach Ministries Report and accounts Contents
| Page | |
|---|---|
| Charity and Company information | 3 |
| Trustee's Report (including Statement of Directors'/Truestees' | 4 - 7 |
| Responsibilities) | |
| Accountants' report | 8 |
| Statement of Financial Activities | 9 |
| Balance sheet | 10 |
| Notes to the accounts | 11 -15 |
Lighthouse Outreach Ministries Company Information
Directors
Reverend Akinwale Laosun Reverend Babatunde Ogedengbe Reverend Kathryn Olumoyegun
Secretary
Reverend Kathryn Olumoyegun
Accountants
K. Amos & Co. Chartered Certified Accountants Unit 12a, Deptford Park Business Centre, Grinstead Road, SE8 5AD.
Bankers
HSBC Plc
Registered office
The Old Courthouse, Orsett Road, Essex, RM17 5DD.
Registered company number
06435205
Registered charity number 1123190
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Lighthouse Outreach Ministries
The report of the trustees for the year ended 31 December 2021
Introduction
The trustees present their annual report and accounts for the year ended 31st December 2021.
The board of trustees are satisfied with the performance of the charity during the year ended 31st December 2021 and consider that the charity is in a strong position to continue its activities during the coming year and that the charity's assets are adequate to fulfil its obligations.
Name, registered office and constitution of the charity
The full name of the charity is Lighthouse Outreach Ministries . The charity is also known by the name Dayspring Chapel .
Date of incorporation 22nd November 2007 Company Registration Number 06435205 The Registered Office is The Old Courthouse, Orsett Road, Essex, RM17 5DD. Charity Registration Number 1123190 Charity incorporation date 13th March 2008
Objectives and Activities of the Charity
A summary of the objects of the charity as set out in its governing document.
The charity's principal objectives are the propagation of the gospel, the advancement of christian faith and to serve the wider society by pursuing aims consistent with our christian moral and spiritual values.
The relief of poverty worldwide.
Each year, the Board of Trustees reviews the objectives and activities to ensure they continue to reflect
Public benefit that is provided by the charity
In the year review, the Trustees have considered the Charity Commission's general guidance on public benefit and in particular its supplimentary public guaidance on the advancement of religion for the public benefit.
The charity exists for the public benefit and opens its services and activties to all and provided support to less priveleged and needy people through gifts in kind and where appropriate financial assistance, giving financial support to other charities that share common values and also organise training and events in
Achievements and Performance of the Charity
Summary
What a year! The year of Covid-19 pandemic and the subsequent lockdowns
The Leadership and members of the Dayspring Chapel according to the governance of the church as ratified by the Trustees must produce a report detailing the activities of the church and other commitment of the church quarterly/ yearly as events dictates. The content of the report is structured in a clear and concise manner with sections and italics for emphasis.
As it was in the year 2020, the year 2021 was also year with a spectacular year. As a church charity, we continued to deal with the global Covid 19 pandemic, especially its effects of churches and its worship services restrictions placed on us by the UK government. We continued to hold our weekly and Sunday services online, as well as other special programmes that were designed for various groups of people in our communities up until July 2021 when we resumed our in-person church services. Though we still continued with our online presence as we kept on streaming our Sunday services online till date.
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Lighthouse Outreach Ministries
The report of the trustees for the year ended 31 December 2021
Situation arising after pandemic lockdown
1n 2021, we continued with our skeletal church services and at times had to resort to Zoom meetings in those days when attendance looks poor. The effect of Covid was still much around and people still much overcome with trepidation concerning going out. Since the nation wasn’t sure of how thing was going to pan out, the church too had to exercise care with regard to the well-being of the members of our church Monthly Programmescommunity.
- Members mental and family well being during lockdowns
As the Lead Pastor of the church charity, my utmost concern was my well-being of the Parishioners during the Pandemic lockdowns. Zoom meetings were organised form time to time so as to connect with every family, along with the children. Young people were not left out. The overriding concern in 2020 and 2021 was the survival of all parishioners, nothing more, nothing less. During the lockdown, the charity started what we called Telephone Prayer Conference which went globally and catered for the spiritual Crossover Service 2018needs of people, both within UK a-2019 nd across few countries. We started an early morning prayer for people from other churches and nations. We meet for 30 minutes, Monday to Saturday, from 6am6.30am, Sunday and Wednesday night, from 9pm-10pm. This is still going on as I write this report.
Church welfare
During the pandemic, the Lead Pastor visited church members to see how they were doing.
On few occasions Zoom conference was organised to help the young people with their mental health. Since schools were shut, universities were also on lockdown, we realised the children and young people will need on-going emotional, mental and spiritual support. We made sure this was done within financial capacity of the church.
Application for funding to organise online mental health seminar for pastors and young people
A funding bid-writing company’s services was sought for in 2020 to help the charity write applications for funding to help the charity to continue to run its activities, as well as help in providing assistance for mental health support for members of our immediate community. The grant was only approved in 2021. The report of the activities in respect of the grant approved will come during the 2021 report. The church went back to our hall in September 2020 till November 2020 when the Government ordered the nation to shut down again and proceed to lockdown, something that went on till May 2021. In fact, the final restrictions are being lifted on July 19th 2021 and we resumed church services after that, even though people did not return much. Equally, the church finance was badly hit.
Just to clarify the subject of the first funding we received. The application was approved in December 2020 but the Funding (£4,400.00) was released in March 20221 and the activities for which the funding was received were executed from March to July 2021. The second funding (£5,600.00) from the National Lottery Community Fund was received in August 2021 and activities for that are still on-going in the year 2022.
The purpose of both funding was to provide programmes for the mental well-being of our members, young people, and others in the community, as well as church leader and also to organise programmes that would strengthen relationships, families and also run online events on social media etc.
All of these events kicked off in 2021 and still on-going, even in the year 2022. Right now, FOOD BANKS are being supported with funding to help alleviate the sufferings of the vulnerable, those on low-income and the needy with food supplies. We also support other charities who run food banks by providing them with money to help purchase dry foods for the community. This is even more important in this year 2022, with the cost of living rising, as well as the energy crisis due to the war in Ukraine.
The church is still marching on and we are still meeting every Sunday till date, though with much reduced finances. But we are trusting God that people’s hearts will be touched and their sense of generosity appealed to, in giving donations to the charity, so that we can continue to meet our objectives.
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Lighthouse Outreach Ministries
The report of the trustees for the year ended 31 December 2021
The methods adopted for the recruitment and appointment of new trustees
The Board of Trustees consists of at least three and not more than seven individuals, all of whom must be members. Trustees are nominated by the senior pastor and appointment confirmed by the Board of Trustees using basic skills and experience method. Due consideration is given to what is required to make the Board as efficient and effective in its perfomance and workings. The Trustees serves a term of two years which is renewable or extendable at the discretion of the Board. The methods adopted for the recruitment and appointment of new trustees
The existing trustees are already familiar with the practical work of the charity.
Any new trustee are invited and encouraged to undergo induction training to familiarise them with the charity and its legal obligations, roles and responsibilities and its operational framework including
Financial Review
Policies on reserves
The position of the Board is to maintain sufficient unrestricted funds to cover operations and management running costs for a period of 6 months. In deciding the level of reserves, the trustees considered the forecasts of levels of income and expenditure for the coming year, the reliability of each source of income and the prospects of new sources of income. The trustees believes that the current level of unrestricted funds maintained by the charity is adequate for its management.
Restricted funds are reserve of money that can only be used for specific purposes. It provides reassurance to donors that their contributions will be used in a manner they have chosen.
Transactions and Financial position
The financial statements are set out on pages 11 to 15. The financial statements have been prepared implementing the 2005 Revision of the Statement of Recommended Practice for Accounting and Reporting by Charities issued by the Charity Commission for England and Wales (revised in June 2008) and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). As stated in the introduction to this report, the trustees consider the financial performance by the charity during the period to have been satisfactory.
The Statement of Financial Activities shows net incoming resources for the year of £32,567 (including gift aid contributions and grants received) and total outgoing resources of £34,470, making net overall deficit of £1,903. There was a significant reduction in (actual) revenue from £23,201 in 2020 to £22,567 (excluding grants received of £10,000) in 2021. There was an increase in outgoings from £28,615 in 2020 to £34,470 in 2021.
The deficit recorded in 2021 was attributed to the continued impact of Covid-19 pandemic.
Specific changes in fixed assets
During the year under review, there was no movement in fixed assets. Some media equipment and tools bought were expensed due to materiality and durability.
Share Capital
The company is limited by guarantee MANDATORY - can only apply to limited companies and therefore has no share capital.
The members of the Board of Trustees of the Charity during the year ended 31st December 2020 and who approved the accounts were :-
Reverend Akinwale Laosun Reverend Babatunde Ogedengbe Reverend Kathryn Olumoyegun
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Lighthouse Outreach Ministries
The report of the trustees for the year ended 31 December 2021
All the directors of the church are also trustees of the charity, and their responsibilities include all the responsibilities of directors under the Companies Acts and of trustees under the Charities Acts.
Statement of Directors' and Trustees' Responsibilities
The Charities Act and the Companies Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
The trustees are also responsible for the contents of the trustees' report.
Method of preparation of accounts
These accounts have been prepared in accordance with the provisions of Charities Act and Companies House 2006 applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 6 September 2022.
Rev. Akinwale Laosun Director and Trustee
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Lighthouse Outreach Ministries Independent Accountant's Report
Report of the Independent Accountant to the trustees on the accounts of the Charity for the year ended 31 December 2021
We report on the financial statements of the charity on pages 10 to 15 for the year ended 31 December 2021 which have been prepared in accordance in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE), effective April 2008, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 revised in June 2008, (The SORP), under the historical cost convention and the accounting policies set out on page 9.
Respective responsibilities of directors and accountant
As described on page 5 , the charity's trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the accounts. The trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the charity is exempt from an audit under Section 477 of the Companies Act 2006.The trustees also consider the charity to be exempt from the requirement to be subject to Independent Examination.
No statement of opinion
We have not carried out any audit procedures and have relied upon information supplied to us by the trustees , and the information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently we do not express an audit or other assurance opinion on the view given by the accounts.
Amos Oloruntobi Principal partner For and on behalf of: K. Amos & Co. Chartered Certified Accountants Unit 12a, Deptford Park Business Centre, Grinstead Road, SE8 5AD.
The date upon which this report was completed is :- 6 September 2022
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Lighthouse Outreach Ministries
Statement of Financial Activities For the year ended 31 December 2021
| Income Income from charitable activities Voluntary income: donations Grants received Bank interest received Gift Aid Total income Resources Expended Charitable activities Other charitable purposes Management & administration of charity Total resources expended Net incoming/(outgoing) resources Net Movements in Funds Fund balances as at 1 January 2021 Funds balances as at 31 December 2021 |
Notes | 2021 Unrestricted Restricted Total funds funds Funds £ £ £ 18,743 - 18,743 10,000 - 10,000 1 - 1 3,823 - 3,823 32,567 - 32,567 28,806 - 28,806 1,215 - 1,215 4,449 - 4,449 34,470 - 34,470 (1,903) - (1,903) (1,903) - (1,903) 1,090 - 1,090 813 - - 813 - |
2020 Total Funds £ 20,314 - 5 2,882 |
|---|---|---|---|
| 2 3 4 6 7 8 |
|||
| 23,201 | |||
| 22,195 1,866 4,554 |
|||
| 28,615 | |||
| (5,414) | |||
| (5,414) 6,504 |
|||
| 1,090 |
All incoming and expended resources derive from continuing activities.
All movements are in unrestricted funds.
The notes on pages 11 - 15 form part of these financial statements.
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Lighthouse Outreach Ministries
| Balance Sheet as at 31 December 2021 Notes 2021 £ Fixed assets Tangible assets 9 671 Total fixed assets 671 Current assets Cash at bank - Deposit account 4,615 Cash at bank - Current account 4,322 Total current assets 8,937 Creditors:- amounts due within one year 10 (5,421) Net current assets 3,516 4,187 Long term liability Bank loan (5,000) (5,000) Net assets /(liability) (813) Unrestricted income funds Unrestricted revenue accumulated funds 813 - Total unrestricted funds 813 - Total charity funds (813) Number Average number of persons employed by the company 1 |
925 3,146 |
2020 £ 257 |
|---|---|---|
| 4,071 | ||
| - 1,090 |
||
| 1,090 - |
||
| 1,090 | ||
| 1,090 | ||
| 1,090 | ||
| Number 1 |
The directors are satisfied that for the year in question the charitable company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.
The director(s) acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with the
Rev. Akinwale Laosun
Trustee
Approved by the board of trustees on 6 September 2022
The notes on pages 11 to 15 form an integral part of these accounts.
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Lighthouse Outreach Ministries Notes to the Accounts for the year ended 31 December 2021
1 Accounting policies
a) Basis of preparation of the accounts
The financial statements have been prepared in accordance with all applicable accounting standards, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 (revised June 2008) (The SORP). The accounts have been drawn up in accordance with the provisions of the Charities (Accounts and Reports) Regulations 2008 and the Companies Acts, and include the results of the charity's operations which are described in the Trustees' Report, all of which are continuing.
Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the company's operation and in order to comply with the requirements of the SORP.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.
b) Accounting convention
The financial statements are prepared,on a going concern basis, under the historical cost convention.
c) Incoming Resources
Incoming resources such as titles, offerings and other donations are accounted for on a receivable basis.
Investment income consists of net interest received on bank deposit account during the year and recorded as unrestricted.
d) Fixed assets and depreciation
All tangible fixed assets are stated at cost less depreciation.
Items of less than £100 are not capitalised.
Depreciation has been provided at the following rates in order to write off the assets (less their estimated residual value ) over their estimated useful economic lives.
Plant & Equipment 25% straight line Musical equipment 20% straight line Office furnture 20% straight line Motor vehicle 25% straight line
The Trustees review the carrying value for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.
e) Taxation
As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company , and is therefore included in the relevant costs in the Statement of Financial Activities. No tax liability has arisen for the charity in the course of its activities.
f)[Resources expended]
All expenditure is accounted for in this financial statement on an accrual basis and has been classified under headings that aggregate all costs related to the category. Resources expended includes attributable VAT which cannot be recovered and is reported as part of the expenditure to which it relates:
- Cost of generating voluntary funds comprise the costs associated with attracting voluntary income.
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Lighthouse Outreach Ministries Notes to the Accounts for the year ended 31 December 2021
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Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charitable company and include the accountants' fees and costs linked to the strategic management of the charitable company.
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All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of th resource. Costs relating to a particular activity are allocated directly; others apportioned on an appropriate basis.
g) Funds
| At 1st January 2021 Surplus/(deficit) for the year At 31st December 2021 |
Unrestricted Restricted Funds Funds £ £ 1,090 - -1,903 - 813 - - |
Total 2021 £ 1,090 -1,903 813 - |
Total 2020 £ 6,504 -5,414 |
|---|---|---|---|
| 1,090 |
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.
Restricted funds are funds that account for situations where a donor requires that a donation must be spent on a particular purpose or where funds have been raised for a specific purpose. There were no such funds at 31 December 2021 (2020 - £nil).
h) Finance and operating leases
Assets purchased under finance leases are capitalised as fixed assets, and the obligations under such agreements are included in creditors. The difference between the capitalised cost and the total obligation under the lease represents the finance charges. Finance charges are written off to the SOFA over the period of the lease so as to produce a constant periodic rate of charge.
Rentals payable in respect of operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities as incurred.
| 2 Voluntary income Donations 3 Grant received Grants from Allchurches Trust Grants from National Lottery Community Fund 4 Investment income Bank interest received |
2021 £ 18,743 2021 £ 4,400 5,600 10,000 2021 £ 1 |
2020 £ 20,314 |
|---|---|---|
| 2020 £ - - |
||
| - | ||
| 2020 £ 5 |
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Lighthouse Outreach Ministries Notes to the Accounts for the year ended 31 December 2021
| 5 Net incoming resources for the year This is stated after charging: Depreciation Accountants' fees 6 Resources expended on charitable activities Training/Books, tapes & CDs Consultancy fees Staff cost Mission house Guest speakers/honorarium Hire hire/rental Bereavement/welfare care Stationery and Printing Church events/Outreach mission - local and abroad Donation to other Charities Entertainment/Holy communion expenses Staff costs: Minister in charge HMRC (PAYE&NIC) |
2021 £ 211 600 2021 £ 560 625 8,640 9,931 915 1,645 540 332 4,860 600 158 28,806 2021 £ 8,640 - 8,640 |
2020 £ 86 600 2020 £ 508 1,098 8,640 8,234 1,000 1,520 250 - - 883 62 |
|---|---|---|
| 22,195 | ||
| 2020 £ 8,640 - |
||
| 8,640 |
During the year, no salaries or other benefits have been paid to any member of trustees in the During the year furtherance of the objectives of the charitable company.
The church engaged the services of one employee during the year 2021.
| 7 Resources expended on other charitable activities Provision of charitable services: Promotions Motor vehicles running expenses Transportation 8 Governance costs: Management and adminstration Telephone (internet costs) Office rent Bank charges Insurance Accounts fees Storage |
2021 £ 461 507 247 1,215 2021 £ 283 562 10 1,107 600 1,190 |
2020 £ 1,866 - - |
|---|---|---|
| 1,866 | ||
| 2020 £ 252 328 5 1,454 600 1,127 |
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Lighthouse Outreach Ministries Notes to the Accounts for the year ended 31 December 2021
| hthouse Outreach Ministries es to the Accounts the year ended 31 December 2021 |
||
|---|---|---|
| Subscription/Website Equipment expensed General expenses Depreciation |
190 283 13 211 4,449 |
136 566 - 86 |
| 4,554 |
| 9 | Tangible fixed assets | |||||
|---|---|---|---|---|---|---|
| Office | Plant, | Musical | Motor | |||
| equipment | Machinery | equipment | Vehicles | Total | ||
| £ | £ | £ | £ | £ | ||
| Asset cost: | ||||||
| At 1 January 2021 | 1,992 | 10,287 | 5,090 | 7,815 | 25,184 |
|
| Additions | 625 | - | - | - | 625 |
|
| Disposals | - | - | - | - | - | |
| At 31 December 2021 | 2,617 | 10,287 | 5,090 | 7,815 | 25,809 | |
| Accumulated depreciation: | ||||||
| At 1 January 2021 | 1,735 | 10,287 |
5,090 |
7,815 | 24,927 | |
| Eliminated on disposals | - | |||||
| Charge for the year | 211 | - | - | - | 211 | |
| At 31 December 2021 | 1,946 | 10,287 | 5,090 | 7,815 | 25,138 | |
| Net book value | ||||||
| At 31 December 2021 | 671 | - | - | - | 671 | |
| At 31 December 2020 | 257 | - | - | - | 257 |
The value of motor vehicle above represent asset held under finance leases or hire purchase contracts which has been fully depreciated.
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Lighthouse Outreach Ministries Notes to the Accounts for the year ended 31 December 2021
10 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year Creditors & accruals Accounts fees |
2021 £ 3,921 1,500 5,421 |
2020 £ 2,038 1,200 |
| 3,238 |
11 Ultimate controlling party
The ultimate controlling party is considered to be the Trustees, as a body.
12 Related party transactions
No payments were made to trustees or any other persons connected with them during this financial period in their capacity as trustees. No material transaction took place between the Charity and a trustee or any person connected with them.
13 Share Capital
The charity is incorporated under the Companies Acts and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding one pound as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter
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