Company nun)ber: 07835798 Charity number 1145596 THE LIGHT FUND COMPANY A Company limited by guarantee ) Report and Financial stgatements For the year ended 31 January 2024 Howell Wade Chartered Accountants 55 Chureh Road Wimbledon Village London SW19 5DQ
THE LIGHT FUND COMPANY (A Company limited by guarantee) Report and Financial Statements For the year ended 31 January 2024 Contents Company Information Report of the Trustees Independent Examiner's Report Statement of Financial activities (Income & expenditure acLount) Balance sheet Notes fonning part of the financial statements
THE LIGHT FUND COMPANY (A Company limited by guaranlee) Report and Financial statements For the year ended 31 January 2024 Com an Inforniation Charity Name: The Light fund Company Charity Registration Number: 1145596 Company Registration Number: 07835798 Registered Office address: 55 Church Road Wimbledon Village London SW19 5DQ Trustees (Directors): Trevor Charles Jones - Chairman lan David Hyder Jacqueline Ann Brown David William Scott Ashlcy Arun Sidney Holman Caroline High Vicky Miller Katherine Ball Sabrina Segalov Paul Hodgson Ian Michael Dolwnes Anne Bradford Nicola Webster Alexandra Salisbury Helena Stopher Graham Saltmarch Mark Schotield Robyn Cowling Bankers: Barclays Bank PIC Accountants: Howell Wade CharteredAccountants .$5 Church Road Wimbledon Village London SW19 5DQ
THE LIGHT FUND COMPANY (A Company limiled by guaranlee) Report of the Trustees for year ended 31" January 2024 Registered Charity Iyumber: 1145596 The Trustees present their annual report and financial statements of the charity for the yC¢ir ended 31" January 2024, which are also prepared to mect the requirements of a Directors, report and accounts for Companies Act purposes. The financial statements Comply with the Charities Act 201 I, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Standard applicable in the UK (FRSI 02) (effective 01 January 2015). The Light Fund was estsblished in 2004 and became a registered charity in January 2012. Reference and Administration details: Registered Company Number: 7835798 Registered Office: 55 Church Road, LONDON SW19 SDQ Correspondence Address: clo Max Publishing Ltd, United House, North London N7 9DP Directors and Trustees The Directors of the charitable company (The Charity ) are also its trustees for the purposes of the charity law. The trustees and officers serving during the year were as follows: Trevor Charles Jones - Chaim]an lan David Hyder Jacqueline Ann Brown David William Scott Ashlcy Arun Sidney Holman Caroline High Vicky Millcr Katherine Ball Sabrina Segalov Paul Hodgson lan Michael Downes Ann Bradford Nicola Websler Alexandra Salisbury Helena Stopher Graham Saltmarsh Mark Schofield Robyn Cowling 'The Light Fund raises funds to be distributed to charitable projects. Its activities are centred within the UK Intellectual Property industy known more commonly as the Licensing Industy. The Light fund is an acronym of Licensing Industry Giving Help Together.
THE LIGHT VUND COMPANY (A Company limited by guarantee) Report of the Trustees for year ended 31 January 2024 (Continued...) Registered Charity Number: 1145596 The charity is organized so that the Trustees communicate regularly to manage its affairs. The Trustees work wkth and alongside a numbcr of volunteers and meet at least once a quarter to review all matters related to the charity. I"he coinmittee is made up of experienced business people drawn fron] the Licensing industry. New and prospective Trustees are usually familiar with the charity's objectives and its ongoing work. They are invited to attend meetings with the existing Trustees in order to further familiarise themselves with the charity and its operations. The Trustees are supported from time to time by a committee of volunteers drawn from the Licensing industry who help identify fundraising opportunities and help to deliver these evcnts. Risk Management The trustees review the risks that the charity faces on a regular basis and believe that their management approach, which minimizes risk and authorizes expenditure only when reserves are sutrici¢nt, provides an adequatc framework to respond in the event of a problcm arising. Achievements, Performance and Future Plans The Light Fund devise, create and manage a range of fundraising activities throughout the year, Most ot'these are industry-wide events whilst others are based on individual fundraising activities. We have now been able to re-instate all our usual fund-raising events, which involve live participation by industry members and others. Other notable sources of funds this financial year have included., Northern Light Fund Quiz held in Manchester Golf Day Treasurc Hunt in London Southern l.ight fund Quiz held at Lord's cricket ground Raffles at Awards event organised by Max Publishing Ltd Sample sales by companies within licensing, toy & card industries Donations from Individuals Each year The Light Fund makes donations to a small number of 'favoured' charities, who are guaranteed funds from us for a minimum of 3 years to enable them to plan ahead with some certainty over that period. The allocation of balance of funds available, usually the vast majority of ihe sums raised, is decided by the vote of Tnsstees and key supporters who chose from those charity proposed to us via our website portal In line with our donations policy, all donations have been made in the UK, to UK registcred Charities and thc Lighl Fund is kcpt up to date by these charities with their progress on the projects outlined by them for the donations.
THE LIGHT FUND COMPANY (A C()mpany limited by guarantee) st Report of the Trn8tees for year ended 31 January 2024 (Conlinued...) Registered Charity Number: 1145596 In 2023, the beneficiaries of The Light Fund (all registered charities) were: New Life CALM Maggie's Shelter Box The Brain Tumour Charity Bowcl Cancer UK Motor Neurone Disease Association Pancreatic Cancer UK Brain Tumour Support Dogs for Good Breast Cancer Now Challenge Atrica Roald Dahl's Marvellous Children's Charity MS-UK Whiu-Kidz Winston's Wish Orchid Acorn Children's Hospice Corhn's & Colitis UK The Sick Childrcn's Trust UK Men's Sheds Association Birth Trauma Associalion Bone Cancer Research Trust Youth Minds Bromlcy Brighter Beginnings DEC Turkey Syria Earthquake Appeal MIND Greelings Association Benevolent Society The Rainy Day Trust From timc to time The Light Fund supports individuals from the Licensing or ancillary industries who need support duc to illness, bereavement or hardship. We also make donations in memory of dear colleague, or membcr of their families, who have passed away. These donations are approved by the Trustees and dctails ofthese are available if required but, for reasons of confidentially, are not included in this report. The light Fund has made two such memorial donations during the year in question. Thc Light Fund has a website which is publicly viewable and is updated regularly to reflect The Light Fund's activities www.li httund.or Financial Review This has been a year of consolidation after last year's epic achievements. Our fund-raising events have been well attended and enjoyed by Ihe industry. We arc especially gratcful to a number of companies that have raised substantial sums for the Light Fund through sample sales, Christmas card sales and raffles at awards events. In the forthcoming year, we anticipate our fundraising amount to be similar to this year, always subject to us being able to carry out the events planned for the forthcoming year.
The Light Fund keeps its expenditur¢ at very low levels. All Trustees and committee members & supporters provide their own time and services free of charge. Reserves Policy Due to the minimal amount of administrative expenditure detailed above, our policy is to donate as much as possible at the end of each calendar ycar to good causes, leaving a prudent balance to cover contingencies before fund-rdising recommences the following year. Financial Statements Company law requires the Trustees to prepare financial statements for each financial year which give a true and t.air view of the state of affairs of the charity at the end of the year and of the surplus or deficiency for the year then ended. In preparing those financial statements, the Trustees are required to: Select suitable accounting policies and then apply them consistently; Make judgrnents and estimates that are reasonable and prudent. stste whether the policies adopted are in accordance with the Companies Act 2006 and with applicable accountingF standards and statements of recommended practice, 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 charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time thc financial position of the charity and to enablc them to cnsure that the financial statcments comply with the Companies Act 2006. The Tru8tees are rcsponsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Byor Board of Trustees David William Scott Director Date: ..
THE LIGHT FUND COMPANY A Compony limited by guarantee) Financial statements For the year ended 31 January 2024 Independent Examiner's Report to the Trustees (Directors) of The Light Fund I report on the accounts of the company for the year ended 31 January 2024, which are set out on the annexed pages. Respective responsibilities of Trnstees (Directors) 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 ts not required for this year under section 144(2) of Ihe Charities Act 2011 {the 201 l Act) and that an independent examination is needed. The charity's gross income exceeded £25,000 and l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England & Wales. Having satÈsfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responstbility to: Examine the accounts under section 145 of the 2011 Act. To follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5) (b) of the 201 l Act; and To state whether particular matters have come to my attention Basis of indepeDdent 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 ot 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 conceming 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 liniited to those Inatters set out in the statement below. Independent examiner's statement In connection with my examination, no matter h&s Come to my attention: which gives me reasonable cause to believe that in any material respect the requirements: 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 requireinents 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 (FRS 102) have not been 2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts lo be reached. ANTHONY WARREN FCA, A, CTA Chartered Accountant 55 Chureh Road Wimbledon SW19 5DQ
THE LIGHT FUND COMPANY (A Company limited by guarantee ) Financial 8tatements For the year ended 31 January 2024 Statement of Financial Activities Note 2024 2023 Unrestricted Funds Unrestricted Funds INCOME Voluntary Income Donations 91,024 65,544 Other Income Events Sponsored activities 61,173 283,426 Total Income 152 197 391666 FXPFNDITURE Expenditure on Raising Funds Lost ol. Orgyanised events Charity collection costs - Just Giving fees 26,359 2,032 364,121 360 28,391 364,481 Expenditure on Charitable Activities Grants and Charitable donations 139,406 16,983 Other Professional and accountancy fees Total expenditure 171097 384 777 Net Income I ex enditure Movement in funds for thc and net ear
THE LIGHT FUND COMPANY A Company limited by guarantee) Registered No: 07835798 Financial statements For the year ended 31 January 2024 Balance Sheet as at 31 Janua 2024 Note 2024 2023 Current assets Cash at bank 16,538 32,138 Creditors: Amounts fallin due within one ear Accruals £ 6,638 £ 25,538 Rcserves Unrestricted Funds £ 6,638 £ 25,538 For the year ending 31 January 2024, the Company was entitled to exemption under section 477 of the Companies Act 2006 relatingi to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The Directors/ Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation ot" accounts. These accounts have been prepared in accordance with the provisions applicable to companies subjecl lo the small companics rcgime and the Charities Act 2011. Approved by the Board of Directors / Trustees on...... .. . . . .. And igned on its behalf by: David iam Scott Trustee (Director)
THE LIGHT FUND COMPANY (A Company limiled by guarantee) Notes to the Financial Statements for the year ended 31" January 2024 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and estimation in the preparation of the financial statements are as follows: Basis of preparation The Financial statements have been prepared in accordance with Accounting and Reporting for chities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (fRS 102) (eft"ective 01 January 2019) - Charities SORP ( FRS 102) and thc Companies Act 2006. Fund Accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are subject to restriclions on their expenditure imposed by the donor or through terms of an appeal. Currently there are no reslricted lunds. Income All income is included on the Statement of b inancial Activities when received. Expenditure Expenses directly relating to the charity's activities are included in the statement of tinancial activities when paid. Extraneous expenditure, such as accounting fees, are Lharged in the period to which they relate. Expenditure includes any VAT which cannot be recovered. Grants payable are accounted for where either the trustees have agreed to pay the grant without condition, or whcn any condition attachcd to the grant has been mct. Costs of generating funds comprise costs associated with attracting voluntary income including fund raising costs associatcd with the organisation ot. fund- raising events. Governance cost includes costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked with the statutory requirements of the charity
THE LIGHT FUND COMPANY (A Company limited by guarantee) Notes to the Financial Statements ( Continued...) for the year ended 31st January 2024 TRUSTEES, REMUNERATION AND BENEFITS si There was no trustees, remuneration or other benefits for the year ended 31 January 2024. Trustees Expenses st There were no trustees, expenses paid for the year ended 31 January 2024. RELATED PARTY TII4NSACTIONS There were no related party transactions in the period under review. STAFF COSTS st There were no staff costs for the year ended 31 January 2024. FUNDS MOVEMENT Unrestricted Funds 2024 2023 Balance Brought forward Net incoming resources / expenditure 32,138 (15, 600) 21,936 10,202 Balanee at 31 January 2024 16,538 32,138 TAXATION As a charity, The Light Fund is exempt from taxation on income and gains falling within scction 505 of the Taxes Act 1988 or section 206 of the taxation of chargeable Gains Act 1992 to the extent that they are applied to charitable objects. No tax charge has arisen in this Charity.