PARKFIELD LIGHTHOUSE LIMITED
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2022
Charity No: 1135815
Company No: 03965167
PARKFIELD LIGHTHOUSE LIMITED
| CONTENTS | Page |
|---|---|
| Report of the Trustees | 2 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes forming part of the financial statements | 10 |
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PARKFIELD LIGHTHOUSE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] MARCH 2022
The Trustees present their report and the unaudited financial statements of the charity for the year ended 31[st] March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016 .
The trustees are directors of the Company for the purposes of the Companies Act 2006.
Reference and Administrative Information
| Charity Name: | Parkfield Lighthouse Limited |
|---|---|
| Charity registration number: | 1135815 |
| Company registration number: | 03965167 |
| Registered Office and Operational Address | 34 Yarm Road |
| Stockton on Tees | |
| TS18 3NG | |
| Trustee Directors | Rev Ernest Stafford |
| Mrs Sue Irvin | |
| Mr Alex Paterson | |
| Chief Executive | |
| and Centre Manager | Mr Alex Paterson |
| Independent Examiner | Mr J Gresham FCCA |
| Azets | |
| New Garth House | |
| Upper Garth Gardens | |
| Guisborough TS14 6HA | |
| Bankers | Barclays Bank plc |
| 49 High Street | |
| Stockton on Tees | |
| TS18 1AH |
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PARKFIELD LIGHTHOUSE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] MARCH 2022
Structure, governance and management
Governing document
The organisation is a charitable Company limited by guarantee and incorporated on 31[st] March 2000 and is governed under its Articles of Association as amended by special resolution dated 20[th] April 2010. The company registered as a charity on 6[th] May 2010.
Recruitment and appointment, induction and training of Trustees
Trustees are appointed at a meeting of the charity’s board on the basis of nominations received by the board. Trustees are selected by the board based on their eligibility, personal competence, specialist skills and relevant experience. New trustees receive an induction into the workings of the charity. All trustees are appointed for a period of three years and can then stand for re-election.
Organisational structure
The Board meets regularly to decide matters of policy and strategy. They agree areas of activity for the Drop in and the subsidiary companies. Day to day management is delegated to the chief executive and his team who staff the Drop in, Nursery and Coffee Shop.
Objectives and Activities including Public Benefit Statement
The charity’s objects as set out in its Articles of Association are:
-
To advance education and provide facilities in the interest of social welfare with the object of improving the condition of life for the inhabitants of Parkfield and the surrounding area of Stockton.
-
To protect and preserve the good health of those persons in need, in particular, those who are in danger of becoming addicted to or dependent upon drugs of any discipline, alcohol and other addictive substances by the provision, where appropriate, of a counselling service and by educating them in matters relating to the safeguarding of good health.
-
To relieve poverty and need by the provision of luncheon and other such services, in particular but not exclusively for those from economically or socially disadvantaged backgrounds.
The charity develops, provides and maintains drop in facilities for those with mental health difficulties in the Parkfield and surrounding area of Stockton on Tees. The Charity is based at 34 Yarm Road, Stockton, known as “The Lighthouse Centre”. The charity actively raises funds through its wholly owned subsidiary, The Lighthouse Nursery Limited which runs both the nursery and coffee shop. It also has a dormant subsidiary, The Lighthouse Coffee Shop Limited.
The trustees have considered the Charity Commission guidelines on public benefit in determining the charity’s aims and objectives.
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PARKFIELD LIGHTHOUSE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] MARCH 2022
Risk management
The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. A major risk would be a reduction the performance of the trading subsidiary which contributes to the running costs of the charity. The trustees carefully monitor the subsidiary’s performance and costs and as a result the subsidiary continues to make a significant contribution to the charity.
The charity also needs to continue to attract volunteers and so makes constant efforts to recruit new volunteers and to match volunteers’ needs with operational requirements.
Achievements and performance
Service Provision
The contribution of the Lighthouse Centre to the welfare and ethos of the Parkfield area of Stockton has been widely acknowledged by users and visitors alike. The provision of refreshment and a “haven” for those who are in mental difficulty has been described as a “lifeline”.
Parkfield Lighthouse Limited took over the provision of the drop-in service when the previous provider was forced to stop. This drop in provides a varied service with significant input from people who attend regularly. The counselling service has been extended to people who chose not to use other drop in facilities but still struggle with their mental health.
The trustees value the efforts made by staff and volunteers alike to continue the service. Continued fundraising activities would enable the manager’s role to return to near full time which would benefit the Centre as a whole.
Financial Review and Reserves Policy
Parkfield Lighthouse Limited ends this financial year in a strong financial position.
An amount of £8,084 has been deducted from free reserves during the year. The charity’s reserves policy is to aim to have sufficient in free reserves to allow the charity to continue its activities and to affect a smooth close down should that be necessary and this is kept under close review by the trustees. Free reserves are unrestricted funds which are not designated or tied up in fixed assets. At 31[st] March 2022, the value of free reserves was £113,626.
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PARKFIELD LIGHTHOUSE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] MARCH 2022
Statement of Trustees’ Responsibilities
The trustees (who are also directors of Parkfield Lighthouse Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report 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 these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK 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 operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
Approved by the Trustees and authorised to sign on their behalf
Trustee: A Paterson Date
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
PARKFIELD LIGHTHOUSE LIMITED
I report on the accounts of the company for the year ended 31[st] March 2022 which are set out on pages 7 to 18.
Respective responsibilities of trustees and examiner
The 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 an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
1 which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
New Garth House Mr J Gresham FCCA Upper Garth Gardens Azets Guisborough TS14 6HA
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PARKFIELD LIGHTHOUSE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31st MARCH 2022
| Unrestricted | Unrestricted | Restricted | Funds | Funds | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| NOTE | £ | £ | £ | £ | |
| INCOME | |||||
| Donations and legacies | 2 | 13,529 | - | 13,529 | 71,026 |
| Income from charitable activities | 3 | 20,659 | - | 20,659 | 54,274 |
| ______ | ______ | ______ | ______ | ||
| Total Incoming Resources | 34,188 | - | 34,188 | 125,300 | |
| ______ | ______ | ______ | ______ | ||
| EXPENDITURE | |||||
| Costs of raising funds | 4 | 38,762 | - | 38,762 | 40,139 |
| Expenditure on charitable activities | |||||
| Costs of goods sold | 4 | 1,007 | - | 1,007 | - |
| Governance costs | 4 | 2,503 | - | 2,503 | 1,980 |
| ______ | ______ | ______ | ______ | ||
| Total Resources Expended | 4 | 42,272 | - | 42,272 | 42,119 |
| ______ | ______ | ______ | ______ | ||
| Net income/(expenditure) | 5 | (8,084) | - | (8,084) | 83,181 |
| Transfers between funds | - | - | - | - | |
| ______ | ______ | ______ | ______ | ||
| Net movement in funds | (8,084) | - | (8,084) | 83,181 | |
| Total funds at 1stApril 2021 | 121,710 | - | 121,710 | 38,529 | |
| ______ | ______ | ______ | ______ | ||
| Total funds at 31st March 2022 | 11 | 113,626 ______ |
- ______ |
113,626 ______ |
121,710 ______ |
The notes on pages 10 to 18 form part of these accounts.
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PARKFIELD LIGHTHOUSE LIMITED
BALANCE SHEET AS AT 31st MARCH 2022
| NOTE | 2022 | 2021 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | |||||
| Tangible assets | 7 | 1,265 | 1,687 | ||
| Investments | 8 | 2 | 2 | ||
| ______ | ______ | ||||
| 1,267 | 1,689 | ||||
| CURRENT ASSETS | |||||
| Debtors | 9 | 112,427 | 109,232 | ||
| Cash at bank and in hand | 46,858 | 61,035 | |||
| ______ | ______ | ||||
| 159,285 | 170,267 | ||||
| CREDITORS: AMOUNTS FALLING | |||||
| DUE WITHIN ONE YEAR | 10 | (5,989) | (246) | ||
| ______ | ______ | ||||
| NET CURRENT ASSETS | 153,296 | 170,021 | |||
| CREDITORS FALLING DUE | |||||
| AFTER ONE YEAR | 11 | (40,937) | (50,000) | ||
| ______ | ______ | ||||
| NET ASSETS | 113,626 | 121,710 | |||
| ______ | ______ | ||||
| FUNDS | |||||
| Unrestricted Funds | |||||
| General Funds | 12 | 113,626 | 121,710 | ||
| ______ | ______ | ||||
| 113,626 ______ |
121,710 ______ |
For the year ending 31st March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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PARKFIELD LIGHTHOUSE LIMITED
BALANCE SHEET AS AT 31st MARCH 2022
These accounts are prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
Mr A Paterson DIRECTOR AND TRUSTEE
Approved by the Board: and signed on its behalf by the above.
The notes on pages 10 to 18 form part of these accounts.
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PARKFIELD LIGHTHOUSE LIMITED
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022
1. ACCOUNTING POLICIES
(a) General information and basis of preparation
Parkfield Lighthouse Limited is a company limited by guarantee and registered in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity’s operations and principal activities are as to develop, provide and maintain drop in facilities for those with mental health difficulties in the Parkfield and surrounding areas of Stockton on Tees.
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 (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The charity adopted SORP (FRS 102) in the current year, but this has not affected the financial position or performance.
(b) 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.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
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.
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PARKFIELD LIGHTHOUSE LIMITED
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022
1. ACCOUNTING POLICIES
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) 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.
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.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Investment income is earned through holding cash in a deposit account and is recognised when it is earned.
(d) 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. All direct costs relate to the charity’s charitable activities.
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PARKFIELD LIGHTHOUSE LIMITED
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022
1. ACCOUNTING POLICIES
(e) Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity.
The analysis of these costs is included in note 3.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
(f) Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
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 useful life as follows:
Fixtures and fittings 25% reducing balance Plant and machinery 25% reducing balance Leasehold property Economic period which has expired
(g) 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.
(h) Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
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PARKFIELD LIGHTHOUSE LIMITED
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022
1. ACCOUNTING POLICIES
(i) Employee benefits
When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
(j) Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
(k) 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.
13
PARKFIELD LIGHTHOUSE LIMITED
NOTES TO THE ACCOUNTS
2. DONATIONS AND LEGACIES
| Unrestricted Restricted £ £ Appeals and donations 3,250 - Gift aid from subsidiary 10,279 - Grants - - __ ____ 13,529 - |
2022 £ 3,250 10,279 - ______ 13,529 |
2021 £ 1200 69,826 - ______ 71,206 |
|---|---|---|
3. INCOME FROM CHARITABLE ACTIVITIES
| Unrestricted Restricted £ £ Income from the use of the building Sales of purchased goods 2,528 - Rental income 5,500 - Other income 3,984 - Grants 8,647 - __ ____ 20,659 - |
2022 2021 £ £ 2528 - 5,500 6,525 3,984 3,984 8,647 43,765 __ ____ 20,659 54,274 |
|---|---|
In the current and previous year, all income related to unrestricted funds.
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PARKFIELD LIGHTHOUSE LIMITED
NOTES TO THE ACCOUNTS
4. TOTAL RESOURCES EXPENDED
| Donations and Use of Governance Legacies Building Costs £ £ Directly allocated to activities Cost of goods sold 1,007 - - Staff costs 22,662 - - Equipment hire - - - Sundry and other costs 775 - - Independent Examiner’s Fee - - 1,440 Legal and professional costs 660 - - Depreciation 422 - - Support costs Establishment costs 10,001 - - Repairs and maintenance 1,085 - - Office expenses 1,923 - - Other Accountancy Costs - - 1,063 Printing, post and stationery 184 - - Sundry and other costs 624 - - Advertising and promotion 426 - - _ __ 39,769 - 2,503 |
Total 2022 £ 1,007 22,662 - 775 1,440 660 422 10,001 1,085 1,923 1,063 184 624 426 _____ 42,272 |
Total 2021 £ - 19,251 1,792 362 1,440 3,115 562 8,473 2,625 3,404 540 279 - 276 _____ 42,119 |
|---|---|---|
This year and in the previous year, all expenditure related to unrestricted funds.
5. NET INCOMING RESOURCES FOR THE YEAR
| This is stated after charging Depreciation on owned assets Trustees Remuneration Independent Examiner’s Fees (including VAT) Accounts Other accountancy costs |
2022 £ 422 - 1,440 1,063 _____ |
2021 £ 562 - 1,440 540 _____ |
|---|---|---|
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PARKFIELD LIGHTHOUSE LIMITED
NOTES TO THE ACCOUNTS
6. STAFF COSTS AND NUMBERS
| Salaries Social Security costs Pension |
2022 £ 20,084 578 - __ 20,662 ____ |
2021 £ 19,251 - - __ 19,251 ____ |
|---|---|---|
No employee received emoluments of more than £60,000. The average weekly number of employees during the year was 1 (2020: 1).
| 7. | TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|---|
| Long Leasehold | Plant & | Fixtures, Fittings Total | ||||
| Buildings | Vehicles | & Equipment | ||||
| £ | £ | £ | £ | |||
| Cost or valuation: | ||||||
| At 1stApril 2021 | 52,595 | 44,861 | 8,314 | 105,770 | ||
| Additions | - | - | - | |||
| ___________ | ||||||
| At 31stMarch 2022 | 52,595 | 44,861 | 8,314 | 105,770 | ||
| ___________ | ||||||
| Depreciation | ||||||
| At 1stApril 2021 | 52,595 | 44,182 | 7,306 | 104,083 | ||
| Charge for the year | 170 | 252 | 422 | |||
| ___________ | ||||||
| At 31st March 2022 | 52,595 | 44,352 | 7,558 | 104,505 | ||
| ___________ | ||||||
| Net Book Value at | ||||||
| 31stMarch 2022 | - | 509 | 756 | 1,265 | ||
| ___________ | ||||||
| Net Book Value at | ||||||
| 31stMarch 2021 | - 679 1,008 1,687 ___________ |
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PARKFIELD LIGHTHOUSE LIMITED
NOTES TO THE ACCOUNTS
| 8. | INVESTMENTS | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Investment in subsidiary | 2 | 2 | |
| _____ | _____ | ||
| 9. | DEBTORS | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Amounts due from subsidiary | 104,867 | 109,232 | |
| Prepayments |
- |
- | |
| Other Debtors | 7,560 | - | |
| _____ | _____ | ||
| 112,427 | 109,232 | ||
| _____ | _____ | ||
| **10. ** | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Trade creditors | - | - | |
| Accruals and deferred income | 433 | 246 | |
| Bank loan | 5,556 | - | |
| _____ | _____ | ||
| 5,989 | 246 | ||
| _____ | _____ | ||
| 11. | CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Bank loan | 40,937 | 50,000 | |
| _____ | ______ | ||
| 40,937 _____ |
50,000 _____ |
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PARKFIELD LIGHTHOUSE LIMITED
NOTES TO THE ACCOUNTS
12. FUNDS
All funds held by the charity are unrestricted funds.
13. SUBSIDIARY
The charity has one wholly owned subsidiary, Lighthouse Nursery Limited, a company registered in England & Wales, number 06855475. The results for the year of this subsidiary are as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income | 140,368 | 198,174 |
| Expenditure | (140,532) | (198,326) |
| _____ | _____ | |
| Result for the year before gift aid | (164) | (152) |
| Gift Aid | - | - |
| _____ | _____ | |
| Result for the year | (164) | (152) |
| _____ | _____ | |
| Net Assets at 31stMarch 2022 | 1,197 _____ |
1,361 _____ |
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