## **House of Lights**
**Director’s Report and Unaudited Financial Statements For the Year Ended 31 August 2020**
Charity Number: 1145550. Company No: 06996615
## **HOUSE OF LIGHTS**
## **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
## **Contents of the Financial Statements**
|Statutory Information|3|
|---|---|
|Reports of the Trustees|4|
|Reports of the Accountants|5 - 6|
|Statements of Financial Activities|7|
|Balance Sheet|8|
|Notes to the accounts|9 - 10|
|Detailed Income and Expenditure Account|11|
2
**HOUSE OF LIGHTS**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
## Company Information
|**CHAIRMAN**|Mr Euegene Ajayi|
|---|---|
|**SECRETARY:**||
|**REGISTERED OFFICE:**|Suite 6094 6th Floor|
||2 Lakeside Drive|
||200 First Central|
||Park Royal|
||London|
||NW10 7FQ|
|**REGISTERED NUMBER:**|06996615 (England and Wales)|
|**CHARITY COMMISSION NUMBER:**|1145550|
|**ACCOUNTANTS:**|FaxonCo. Ltd|
||Chartered Certified Accountants|
||85 Great Portland Street|
||London|
||W1W 7LT|
|**BANKERS:**|HSBC|
||Kilburn High Road|
||Kilburn|
3
**HOUSE OF LIGHTS REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
## REPORT OF THE TRUSTEES
Trustees
Mr Odeh Akatu (Chair) Mr Euegene Ajayi Mr Oluwaseye Solabomi Mrs Praise Asemota
Trustees’ Responsibilities in Relation to the Financial Statements
Law applicable to charities in England and Wales requires the trustees to prepare Financial Statements for each financial year, which give a true and fair view of the Charity financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
1. Select suitable accounting policies and then apply them consistently;
2. Make judgments and estimates that are reasonable and prudent;
3. State whether applicable accounting standards and statements of recommended practice have been followed subject to any departure disclosed and explained in the financial statements;
4. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detention of fraud and other irregularities.
Mr Euegene Ajayi Chairman
30-Apr-21
4
## **HOUSE OF LIGHTS REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
## INDEPENDENT ACCOUNTANT REPORT
We have prepared the financial statements of House of Light for the period ended 31 AUGUST, 2016 which comprises the Statement of Financial activities, Balance Sheet and the related notes set out on page 9 to 11. These financial statements have been prepared under the historic cost convention and the account policies
This report is made solely for the trustees in accordance with Section 44 Charities Act 1993. Our accounting work has been undertaken so that we might state to the Trustees those matters we are required to state to them in our accountants’ report and for no other purposes. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Trustees of the Association, for our accounting
## Respective Responsibilities of Trustees and Accountants
The trustees’ responsibilities for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards are set out in the Statement of
Our responsibilities are to prepare the financial statements in accordance with relevant legal and regulatory requirements and United Kingdom Accounting Standards.
We report to the trustees our opinion whether the financial statements give a true and fair view and are prepared in accordance with the Charities Act 1993. We also report to you if, in our opinion, the Trustees’ Annual Report is not consistent with the financial statements, if the charity has not kept proper accounting records, or if we have not received all the Information and explanation we require for the preparation of the
We read the information contained in the Trustees’ Annual Report and consider whether it is consistent with the financial statements. We consider the implication for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements. Our responsibilities do not extend to
5
## **HOUSE OF LIGHTS REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
## INDEPENDENT ACCOUNTANT REPORT (continued)
## **Basis of opinion**
We have prepared the financial statements with the United Kingdom Accounting Standards issued by the Accounting Standards Board. The preparation includes examination, on a test basis of evidence relevant to the amounts and disclosures in the financial statements. It also include an assessment of the significant estimates and judgement made by the trustees in the preparation of the financial statements, and of whether the accounting policies are appropriate to the charity’s circumstances, consistently applied and
We planned and performed our preparation so as to obtain all information and explanations that we considered necessary in order to provide us with sufficient evidence to give reasonable assurance as to whether the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion, we also evaluate the overall adequacy of the presentation of
## **Unqualified opinion**
In our opinion, the financial statements give a true and fair view of the state of affairs of the charity as at 31 August 2013 and of its incoming resources and application of resources for the period then ended and have been properly prepared in accordance with the Charities Act 1993
Faxon Consulting Ltd Charterd Certified Accountants 49 Rivermead House London E9 5QT
Date: 30[th] April 2021
6
## **HOUSE OF LIGHTS**
## **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
|Note
**Incoming Resources**
Activities in furtherance
of the charity's objects
2
Total Incoming Resources
**Resources Expended**
Charitable expenditure:
Management and Administration
3
Total Resources Expended
Net incoming resources before
Other recognised gains and (losses)
Other recognised gains and losses
Net movement funds for the period
Balance Brought forward
6
**Total Funds as at 01 September 2020**|2020
2019
(Amended)
£
£
81,604
96,802
81,604
96,802
82,365
95,952
82,365
95,952
(761)
850
-
-
(761)
850
(1,837)
(2,687)
(2,598)
(1,837)|
|---|---|
7
## **HOUSE OF LIGHTS**
## **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
## **BALANCE SHEET**
|Note
**FIXED ASSET**
Tangible Fixed Assets
4
**CURRENT ASSETS**
Balance at bank and in hand
**CURRENT LIABILITIES**
Creditor Amount falling due within 1 ye
5
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CAPITAL AND RESERVES**
General Funds B/f
Net movement funds for the period
**UNRESTICTED FUNDS**|12,270
(750)|**2020**
**2019**
**Amended**
£
£
631
1,210
11,703
0
11,520
11,703
12,151
12,913
12,913
12,063
(761)
850
12,151
12,913|
|---|---|---|
||||
_For the year ended 31/08/2016 the Company was entitled to exemption under section 477 of the Companies Acts 2006 relating to small companies._
_No members have required the company to obtain an audit for it accounts for the year in section 476 of the company Act 2006._
_The director’s acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts._
_These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies’ regime._
Approved by the trustees on 30 April, 2021 and sign on it behalf
Mr Odeh Akatu Chairman
8
**HOUSE OF LIGHTS**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
- 1 Principle Accounting Policies
## a) Accounting Convention
The financial statements are prepared under the historic cost convention. In preparing the financial statements, the charity follows the best practice as laid down in the Statement of Recommended Practice ‘ Accounting and Reporting by Charities’ (SORP 2000) issued in October 2000.
To comply fully with the statement of Recommended Practice, would require investments to be accounted for at valuation. The trustees are of the opinion that since the investments is held for the long term, it would be inappropriate to account for unrealised gains and losses for the period. Therefore investments have been accounted for at historical cost. This is the only exception to compliance with the Statement of Recommended Practice. The market value of the investments is disclosed.
b) Income from members is credited to the income in the year in which it is receivable by the association. All other income is credited to income in the year in which it is received on a cash basis.
c) Donations to other charities are charged in the year when the offer is conveyed to the recipients except in those cases where the offer is conditioning, such as donations or grants being recognised as expenditures when the conditions attached are fulfilled.
d) Unrestricted funds are general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the association and which have not been designated for other purposes.
e) The tangible assets are stated at cost less depreciation. The general policy is to provide depreciation on fixed assets on a reducing balance method over their estimated useful lives. No depreciation is charged in the year in which the assets are sold or scrapped.
Tangible fixed assets are depreciated at rates appropriate to the assets Concerned.
Motor Vehicle 25% Equipments, Furniture, Fixtures and Fittings 25%
9
**FOR THE YEAR ENDED 31 August 2020**
## **HOUSE OF LIGHTS**
## **REPORT AND FINANCIAL STATEMENTS**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS (cont)**
|2 **Tangible Fixed Asset**
Cost
Brought Forward
Additions
Carried Forward
Depreciation
Brought Forward
Provided During the Period
Carried Forward
Net Book Value at 31 AUGUST, 2018
**5 Creditor Amount falling due within 1 year**
Amount falling due within 1 year
Accrual
Other Creditors
**6 General Funds**
Balance Brought Forward
Net Movement in funds for the period
Balance Carried Forward|**2020**
£
5,787
5,787
(4,577)
(579)
(5,156)
631
**2020**
£
0
(750)
(750)
**2020**
£
12,913
(761)
12,151|**2019**
**Amended**
£
5,787|
|---|---|---|
|||5,787|
|||(3,998)
(579)|
|||(4,577)|
||||
|||1,210|
|||**2019**
£
0
0|
|||0|
|||**2019**
£
12,063
850|
|||12,913|
10
## **HOUSE OF LIGHTS REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2020**
## **STATEMENT OF FINANCIAL ACTIVITIES**
|£
**Incoming Resources**
Donations, Tithes and Offering
Interest Received
Total Incoming Resources|**2020**
**Amended**
£
£
81,599
5.05
81,604|**2019**
**Amended**
£
96,794
7.78|
|---|---|---|
|||96,802|
|**Charitable expenditure:**
Love offerings
**Administrative expenses - Employee costs**
Wages and salaries
24,304
Employer's NI
885
Staff training and welfare
17,393
Travel and subsistence
3,428
**Administrative expenses - Premises costs**
Rent
9,939
Rates
575
Light and heat
-
**Administrative expenses - General**
Church Programmes
-
National Mission
4,137
International Mission
9,868
Hospitality
277
Telephone and fax
4,989
Internet
585
Information and publications
956
Bank charges
-
Insurance
1,737
Equipment expensed
1,096
Software
1,447
**Administrative expenses - Legal & professional**
Accountancy fees
750
**Net movement funds for the period**|23,070
223
-
4,675
22,182
42
846
1,151
17,844
14,811
3,956
3,657
349
253
34
497
566
1,075
720
82,365
-761||
|---|---|---|
|||95,952|
||||
|||850|
11