THE LIGHTHOUSE PROJECT SPALDING
(ALSO KNOWN AS "KARIS HOUSE")
CHARITY COMMISSION REGISTERED NO. 1135706
FINANCIAL STATEMENTS
for the year ended
31 March 2025
THE LIGHTHOUSE PROJECT SPALDING
Index
for the year ended 31 March 2025
| 1 | Summary of Trustees and Professional Advisers |
|---|---|
| 2 to 4 | Trustees' Annual Report |
| 5 | Independent Examiner's Report |
| 6 | Statement of Financial Activities |
| 7 | Statement of Assets |
| 8 to 13 | Notes to the Financial Statements |
THE LIGHTHOUSE PROJECT SPALDING
Summary of Trustees and Professional Advisers for the year ended 31 March 2025
| Trustees | Mrs J J Tedbury |
|---|---|
| Mrs M Sandhu | |
| Mrs C Lovett | |
| Registered Office | 57 West Road |
| Pointon | |
| Sleaford | |
| NG34 0NA | |
| Independent Examiner | Miss H Bright BA (Hons), FCA, CTA |
| Moore Thompson | |
| Chartered Accountants | |
| Bank House | |
| Broad Street | |
| Spalding | |
| Lincs. | |
| PE11 1TB |
Page 1
THE LIGHTHOUSE PROJECT SPALDING
Trustees' Annual Report
for the year ended 31 March 2025
The Lighthouse Project Spalding was established by Mrs J J Tedbury in July 2007 and governed by a trust deed dated 1 January 2009. It was registered with the Charity Commission on 28 April 2010. Its charity number is 1135706. The charity is also known under the names; "The Lighthouse Project" and "Karis House".
Objects
The objects of the charity are to advance in life and help young people through a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life; b) providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible adults.
These aims are achieved by the charity providing the facilities and opportunity for the beneficiaries to participate in work experience opportunities such as providing lunches and running mother and toddler groups from the site of the Lighthouse Pentecostal Church.
The beneficiaries are encouraged to learn the processes and the management of projects thus developing working and communication skills. They also further develop as people which helps to integrate them back into the community.
In April 2015, the charity opened a charity shop and café which is run by the beneficiaries to, once again, help their integration back into the wider society. During February 2016, a second hand furniture charity shop was also opened to help raise further funds.
Trustees
The trustees who served the charity during the period were as detailed on Page 1.
New trustees are recruited from a group who have shown a keen interest in the work of the charity and have abilities required on the governing body. Training is provided to keep trustees up to date with new legislation etc. on a regular basis.
Public benefit
The trustees have given due regard to the guidance published by the Charity Commission on public benefit, with charity's objectives of enabling vulnerable people to integrate back into the community being beneficial to themselves and the community as a whole.
The trustees consider that the full details of the public benefit have been disclosed within the activities, achievements and performance sections below.
Activities, achievements and performance
The Lighthouse Project has grown since it started as one home for homeless young people. It has added five more activities, each of which is listed below. Every activity within the main project provides great public benefit to both the young people it supports, by providing more than just a home and to the wider community in several ways.
Firstly, the support and equipping of young people improves their self-esteem and helps them to understand why they have created negative coping strategies in the past, such as alcohol or drug abuse and gets them into stable volunteering.
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THE LIGHTHOUSE PROJECT SPALDING
Trustees' Annual Report
for the year ended 31 March 2025
Activities, achievements and performance (continued)
Secondly, in helping the young people to acquire more daily living skills and offering work experience it enables them to reintegrate back into society, either through gaining employment or entering further education, thereby preventing them from being a drain on the benefit system. When the young people are reintegrated back into society they are no longer "hanging about on the street", forming gangs or committing crimes.
Finally, the furniture recycling store provides a free pick up service for the local community wishing to donate furniture and cheap second-hand furniture and other goods to those who cannot afford to pay a lot for their goods.
KARIS HOUSE - Karis House is a life changing home and programme that supports young women who have a serious desire to recover from issues that are controlling their lives such as self-harm, eating disorders, addictive behaviours, depression or the effects of abuse.
SHOP - The Lighthouse Project Shop provides a community hub in the market square. It sells donated items, handmade crafts upto 2025 the shop also included a cafe but this ceased in the year. It gives unemployed young people opportunity to experience a work environment and is a favourite local spot in the area.
RECYCLE STORE - The Lighthouse Project Furniture Recycling Store upcycles donated furniture and resells it. It gives unemployed young people opportunity to experience a work environment and creates a unique community hub.
SHINING STARS - Shining Stars is our lively parent and child group run by our qualified nursery nurse, supported by volunteers providing experience for local young people. It brings together a diverse selection of families from across our local area.
LIME HOUSE - Lime House gives teenage mums with bumps or babies, who are homeless or at risk of homelessness, a home for them and their little ones. We provide a home with a family feel, support and teaching to help vulnerable women learn how to run their own life and become part of the community.
HOME HOUSE - Home House provides supported accommodation for young people who are homeless or at risk of becoming homeless. We provide a home rather than a house, along with helping residents learn critical life skills to help them integrate into society.
Volunteers
The Lighthouse Project has no funding and relies heavily on donations to function. Volunteers donate their valuable time in all areas of the charity and are an essential part of the project. Staffing is an expensive commodity but supporting young people and running several activities such as the shop, recycling store and toddle group requires many people to be involved. This is where the volunteers are so essential, as without them the project quite literally could not function.
Related parties
During the period, the charity received a donation of £61,314 (2024 - £68,492) from The Lighthouse Project Limited. The sole director and shareholder of this company is Mrs J J Tedbury, who is also a trustee of the charity.
Results
The results for the year and the charity's financial position at the end of the year are shown on pages 6 to 13.
Page 3
THE LIGHTHOUSE PROJECT SPALDING
for the year ended 31 March 2025
Trustees' Annual Report
Reserves
The trustees believe that an annual income of £175,000 will be required in order to fund the charitable work they wish to do. This will mainly be funded by unrestricted donations, but specific grants will be applied for, if relevant, and thus shown as restricted funds. If sufficient excess cash is built up then the trustees will make a investment to help generate funds.
For and on behalf of the trustees.
Mrs J J Tedbury
Date: 03/11/2025
Trustee
Page 4
Independent Examiner's Report to the trustees of
THE LIGHTHOUSE PROJECT SPALDING
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025, which are set out on pages 6 to 13
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirement of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 charity as required by section 130 of the Act; or
-
the accounts do not accord with those records.
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
H Bright FCA, BA (Hons), CTA Date: 06/11/2025 Moore Thompson Chartered Accountants Spalding
Page 5
THE LIGHTHOUSE PROJECT SPALDING
Statement of Financial Activities
for the year ended 31 March 2025
| Note Income from: Donations and legacies 3 Charitable activities 3 Total income Expenditure from: Charitable activities 4 Total expenditure Net (expenditure) / income Fund balances brought forward Fund balances carried forward |
2025 2024 £ £ 73,734 77,329 116,270 119,464 190,004 196,793 203,000 193,349 203,000 193,349 (12,996) 3,444 150,437 146,993 137,441 150,437 |
|---|---|
The charity has no recognised gains or losses other than the results for the year set out above.
All of the activities of the charity are classed as continuing activities.
All of the above income and expenditure is regarding unrestricted funds.
The notes on pages 8 to 13 form a part of these accounts.
Page 6
THE LIGHTHOUSE PROJECT SPALDING
Statement of Assets
at 31 March 2025
| Note Fixed assets Tangible assets 5 Current assets Debtors 6 Cash at bank Total current assets Current liabilities Creditors 7 Total current liabilities Net current assets Accumulated Funds Unrestricted funds |
2025 £ 11,687 60,159 67,368 127,527 1,773 1,773 137,441 137,441 137,441 |
2024 £ 12,063 69,123 72,486 |
|---|---|---|
| 141,609 | ||
| 3,235 | ||
| 3,235 | ||
| 150,437 | ||
| 150,437 | ||
| 150,437 |
We approve these financial statements and confirm that we have made available all relevant records and information for their preparation.
For and on behalf of the trustees:-
Mrs J J Tedbury Trustee
Date: 03/11/2025
The notes on pages 8 to 13 form a part of these accounts.
Page 7
THE LIGHTHOUSE PROJECT SPALDING
Notes to the Financial Statements for the year ended 31 March 2025
1. Accounting policies
a) Basis of preparation of financial statements.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis and are presented in sterling which is the functional currency of the charity.
b) Fixed Assets
Tangible fixed assets are state at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
c) Depreciation
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected economic useful life as follows:
| less estimated residual value, useful life as follows: |
of each asset on a systematic b |
|---|---|
| Fixtures and fittings | - 10% reducing balance |
| Log cabin | - 5% on cost |
| Computer equipment | - 25% reducing balance |
| Motor vehicles | - 25% reducing balance |
d) Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
e) Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.
The useful economic life used to depreciate tangible fixed assets relates to the expected future performance of the assets acquired and management’s estimate of the period over which economic benefit will be derived from the asset. The residual value of an asset is the estimated fair value of that asset at the end of its useful economic life and therefore is also dependent upon the estimation of that life span.
Cut-off is applied at the year end date. An estimation of income or expenditure applicable to the relevant period must be applied when the receipt or payment relates to a different period to the year end.
f) Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011.
Page 8
THE LIGHTHOUSE PROJECT SPALDING
Notes to the Financial Statements (continued)
for the year ended 31 March 2025
1. Accounting policies (continued)
g) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
h) Income recognition
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Rentals receivable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Gifts in kind donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. Where it is impracticable to estimate fair value of the items due to the volume of low value items they are not recognised in the financial statements until they are sold.
i) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
Charitable activities include the cost of the activities defined by the charity's aims for the benefit of the persons detailed in the charity's objectives.
Support costs include those costs which do not directly link to the charitable activities of the charity but are necessary running costs to enable the charity to generate funds and program delivery.
Governance costs include the costs that allow the charity to operate and to generate the information required for public accountability.
The charity rents the Karis House leasehold property free of charge from the related company The Lighthouse Project Limited. As such, no rental costs are shown in the accounts.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
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THE LIGHTHOUSE PROJECT SPALDING
Notes to the Financial Statements (continued)
for the year ended 31 March 2025
1. Accounting policies (continued)
j) Funds
Unrestricted funds:
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds:
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
k) Employee benefits
The wages cost represents wages for the hours worked for the charity by employees.
The pensions cost represents the employer payments in to a defined contribution pension scheme for employees of the charity.
2. Motor costs
The charity had full use of the following asset from the related company, The Lighthouse Project Limited, during the year, as well as its own vehicles.
- Caravan
In light of this, the charity has incurred the running costs of the above vehicle on behalf of The Lighthouse Project Limited.
3. Income
| Donations and legacies Government grants - Shining Stars Donations Total voluntary income Charitable activities Rent receivable Fundraising events Shop sales Furniture sales Total charitable income |
2025 £ 1,091 72,643 73,734 14,413 1,426 52,514 47,917 116,270 |
2024 £ 995 76,334 |
|---|---|---|
| 77,329 | ||
| 34,271 1,189 37,032 46,972 |
||
| 119,464 |
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THE LIGHTHOUSE PROJECT SPALDING
Notes to the Financial Statements (continued)
for the year ended 31 March 2025
4. Cost of charitable activities
| Karis House Wages Pensions Welfare costs Staff training and expenses Leasehold property rates Food purchases etc. Property repairs and renewals Travel costs Motor costs Depreciation Shop and related flats Properties rent Properties rates Property insurance Flat light and heat Shop light and heat Shop insurance Shop repairs and renewals Furniture shop Properties rent Properties rates Shop light and heat Shop insurance Shop repairs and renewals Support costs Office costs Computer costs Telephone Advertising Bank charges Fund raising expenses Governance costs Independent examination fee Total cost of charitable activities |
2025 2024 £ £ 72,648 66,913 1,447 948 - 886 - 557 9,396 7,709 4,807 5,580 5,322 5,830 - 684 6,390 4,225 1,976 1,823 101,986 95,155 20,400 20,400 371 - 4,600 4,413 24,696 25,528 2,463 1,937 1,401 2,076 3,475 4,711 57,406 59,065 9,600 9,600 223 2,246 3,925 - 311 2,062 1,149 14,131 14,985 727 635 438 448 2,213 2,360 22,411 18,619 960 918 1,498 - 28,247 22,980 1,230 1,164 203,000 193,349 |
|---|---|
Page 11
THE LIGHTHOUSE PROJECT SPALDING
Notes to the Financial Statements (continued)
for the year ended 31 March 2025
5. Tangible Fixed Assets
| £ Cost At 1 April 2024 16,813 Additions - At 31 March 2025 16,813 Depreciation At 1 April 2024 9,598 Charge for the year 722 At 31 March 2025 10,320 Net book value At 31 March 2025 6,493 At 31 March 2024 7,215 6. Debtors Amounts due from related parties: The Lighthouse Project Limited PAYE and NIC Prepayments and accrued Income 7. Creditors Trade creditors Other creditors Accruals Fixtures and fittings |
£ 16,813 - Fixtures and fittings |
Log Cabin £ 7,150 - |
Computer Equipment £ 1,817 - |
Motor Vehicles £ 19,910 1,600 |
Total £ 45,690 1,600 |
|---|---|---|---|---|---|
| 16,813 | 7,150 | 1,817 | 21,510 | 47,290 | |
| 4,292 357 4,649 2,501 2,858 £ |
1,709 27 1,736 81 108 £ |
18,028 870 18,898 2,612 1,882 2025 £ 44,947 3,257 11,955 60,159 2025 £ 337 236 1,200 1,773 |
33,627 1,976 |
||
| 35,603 | |||||
| - 11,687 |
|||||
| 12,063 | |||||
| 2024 £ 55,771 4,257 9,095 |
|||||
| 69,123 | |||||
| 2024 £ 646 649 1,940 |
|||||
| 3,235 |
8. Wages and salaries
The average number of employees in the year was 5 (2024 - 6). No employees received total employee benefits in excess of £60,000 in the current or prior year.
Page 12
THE LIGHTHOUSE PROJECT SPALDING
Notes to the Financial Statements for the year ended 31 March 2025
9. Related party transactions
The Lighthouse Project Limited works closely with this charity and the company usually makes donations out of profits each year and made a donation of £61,314 in the current financial period. Mrs J J Tedbury, is the sole director of the company.
The company donates the cost of the charity's public liability insurance cover annually and thus the insurance cost regarding this is not shown in the accounts of the charity.
10. Trustees' remuneration and expenses
No remuneration or expenses, directly or indirectly out of the funds of the charity, was paid or payable for the year to any trustee.
11. Control relationship
The charity is controlled by the trustees jointly and no individual can or does exert control over the
Page 13