Charlty reglstrntion number 1153557 Company règ18trallon number 08662809 (England and Wales) THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Tru8te88 Barbara Harding Stephen Thomas John Harding Peter Harris Robert Kronman Michael Collett (Appointed 3 November 2023) Charfty number 1153557 Company number 08662809 Registered office 5 Robin Hood Lane Sutton Surrey SM12SW Independent examiner Miriam Hickson FCA 5 Robin Hood Lane Sutton Surrey SM12SW
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 6-13
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 JULY2024 The trustees present their report and financial statements for the year ended 31 July 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum & Articles of Associalion, Ihe Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effective 1 January 2019)" Objectives and actlvltles The charity's aims are to raise more funds in order to continue lo increase the level of donationslgrants the charity is able to make lo the causes we support such as helping those with sensory impaimient of sight andlor hearing, supporting affiliated organisations and to extend its support to encouraging lighting educalion. Publi¢ Benefit The trustees have paid due regard to guidance issued by the Charity Commission, including public benefit guidan, in deciding what activities the charity should undertake. Achievements and perfornian¢e Financial review During the period, donations to charities of £24,160 (2023.. £24,820) and Education and Military Awards of £8,805 (2023.. £10,775) were made. Total income as shown in the statement of financial activits'es amounted to £53,675 12023.. £47,437). Reserves policy It is the policy of the Charity to progressivety build up the capital fund of the Trust Ihrough legacies, specific one-off donations and some of the investment income and to dislfibule annually a proportion of investment income, together with, as far as possible, all monies reiVed by way of annual donations from members and specific fund- raising activities in pursuance of its objective5. The trustees have assessed the risks to which the charity is exposed, and are satisfied that systems are in place to mitigale exposure to those risks. Structure, governance and management The charity is a company limited by guarantee. and sts goveming document is its Memorandum and Articles. All decisions concerning grants and investments of funds are made by the trustees as are those conceming the appointmenl of the trustees. Meetings are usually held three limes a year and additionally as appropriate. The general administration of the Charity is handled by the Company's Treasurer, Mr R Rawson and its Trustee Secretary, Mr E Taylor. both of whom for these purposes are directors of The Worshipful Company of Lightmongers Charrtable Trust. Those nominated as trustees, who are also directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statemenls were- Barbara Harding Michael Simpson Stephen Thomas John Harding Anthony Ginman Peler Harris Robert Kronman Michael Collett {Retired 3 November 2023) (Retired 3 November 2023) (Appointed 3 November 2023)
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 The trustees may at any time appoint an individual who is a member of the Lightmongers Company to be a truslee, up to the maximum number allowed under the constilution of the Charity (currently 7). The truslees are not subject to retirement by rotation, bul serve fixed terms of office of three years. At the end of the firsl term of office a trustee may be re-appointed to one further temi of office by the remaining trustees. None of the Irustees has any beneficial interesl in th8 company. All of the trustees are members of the company and guarantee lo contribute £1 in the event of a winding up. Statement of trustees. responsibilities The trustees. who are also the directors of The Worshipfvl Company of Lightmongers Charitable Trusl Limiled for the purpose of company law, are responsible for preparing the Trustees, Report and the financial slalernents 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charilable company for that year. In preparing these financial statements. the trLtslees 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.. and prepare Ihe financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the finanaal position of the charity and enable them to ensure that the financial slatements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and delection of fraud and other irregularities. Review l am gratefvl for Ihe support of my fellow Trustees in providing their time. energy. and enthusiasm to the work of the Trust and to our Treasurer Roger Rawson and our Secretary, Past Master Eddie Taylor for management of the administration of the Trust. Along with the Board of Trustees, I would like to thank all those who have given so generously to the Trust in the last year and encourage any Liveryman or Freeman who does not already support the Trust to do so. One-off donations are always welcome. The appropriate forms for annual contributions including Gift Aid are available from the Secretary or the Clerk. The trustees, report was prepared in accordance with the special provisions relating to small companies and approved by the Board of Trustees. Stephen Thomas Trustse 1 November 2024
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED I report to the trustees on my examination of the financial statements of The Worshipful Company of Lightmongers Charitable Trust Limited (the charity) for the year ended 31 July 2024. Rosponsibiliti08 and basis of report As the trustees of the charity (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity a not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5}Ib) of the 2011 Act. Independent examIne8 Statement I have completed my examination. I confirm that no matters have come to my attention in conn8Ction with the examination giving me cause lo believe that in any material respect.. acLounting records were not kept in respect of the charily as required by section 386 of the 2006 Act; or the financial statements do not accord with those records., or the financial slalemenls do nol comply with the accounting requirements of sèction 396 of the 2006 Act 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.. or the financial statements have not been prepared in accordance wilh the methods and principles of the Statement of Recommended Practice for accounting and reporting by Charities applicable to charitl8S preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concems and have come across no other matters in connection with the examinalion to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Miriam Hickson FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM12SW
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024 Unre8trl¢ted Restrlcted funds funds 2024 2024 Total Unrestricted Restrictsd funds fund8 2023 2023 Total 2024 2023 Notes Income from: Donations and legaei8S Income from charitable activities Investments 19,458 5,000 24,458 14,384 14,384 10,940 18,277 10,940 18,277 13,305 19,748 13,305 19,748 Total Income 48,675 5,000 53,675 47,437 47,437 Raising funds 12,247 12,247 13,686 13,686 Charitable a1vities 31,607 5,075 36,682 35.753 4.760 40,513 Total expendlture 43,854 5,075 48,929 49,439 4,760 54,199 Nei gainsl{lossesl on investments 13 21,215 21,215 (33,181) (33.181) Net movement In fund8 26,036 (751 25,961 (35,183) (4.760) (39,943) Fund balances at 1 August 2023 568,368 14,145 582,513 603,551 18,905 622,456 Fund balances at 31 July 2024 594.404 14.070 608,474 568,368 14,145 582,513 The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in Ihe year. All income and expenditure derive from continuing a1VItIes. The statement of financial activities also complies with the requirements for an income and expenditure account undef the CompaniesAct 2006.
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED BALANCE SHEET AS AT 31 JULY2024 2024 2023 Notes Fixed assets Investments Current assets Debtors Cash at bank and in hand 14 556,869 514,799 15 18,210 39,559 20,632 52,536 57,769 73,168 Creditors: amounts falllng due wlthln one year 16 16,164) (5,454) Net current assets 51,605 67,714 Total a88ets less current Ilabllltles 608,474 582,513 Income fund8 Restricted funds nr ric dfun General unrestricted funds Revaluation reserve 17 14,070 14,145 545,250 49.154 538,771 31,597 594,404 568,368 608,474 582,513 The company is entitled lo the exemption from Ihe audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024. The direclors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial stalements. The members have not required the company to obtain an audit of its financial statements for the year in question in a¢¢ordan¢e wilh section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subje to Ihe small Companies regime. The financial stateme re approved by the Trustees on 1 November 2024 Stephen Thomas Trustee Company Registration No. 08662809
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accounting polici08 Company infomiation The Worshipful Company of Lightmongers Charitable Trust Limited is a re9lStered Charity and a private company limited by guarantee incorporated in England and Wales. The registered office is 5 Robin Hood Lane, Sutton, Surrey, SM12SW. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Memorandum & Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191" The arity is a Public Benefit Entity as defined by FRS 102. The ¢harity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees, Continue to adopt the going concern b8sis of accounting in preparing the financial statements. 1.3 Charitsble fund8 Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Unrestricted funds are income resources CeIVable wrlhout further specific purpose and are available for general purposes to be used al the discretion of the Trustees. Restricted funds have a restriction placed on thém by the donor and must be used in accordance with the terms of that restriction. 1.4 Income Income is recognised when the charity is legally entilled lo il after any performance conditions have been met, the amounls can be measured reliably, and it is probable that income will be received. Any income received for events that will take pla in future years is deferred. Cash donations are recognised on receipt. Olher donations are recognised once the charity has been notified of the donation, unless perfomiance Conditions require deferral of the amount. Income tax recoverable in relalion to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been nolifsed of an impending distribution, the amount is known, and receipt is expected. If the amount is nol known, the legacy is treated as a contingent asset.
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Accountlng pollcles Icontlnued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlem8nt, and the amount of Ihe obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated dIrelY to thal adivity. Shared Costs which conlribule to more than one activity and support costs which are not attributable lo a single activily are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Expenditure is recognised on an accruals basis when a liability is incurred. Expenditure is inclusive of any VAT which cannot be recovered. Donations payable are accounted for when the charity is committed to paying them. 1.6 Cash and cash equlvalents Cash and cash equivalents include cash In hand, deposits held at call with banks, other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings In current liabilities. 1.7 Flnanclal Instrumont8 The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on a net basis or to realise the assel and settle the liability simultaneously. 1.8 Baslc financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the tran$adion is measured at Ihe present value of the future receipts discounted at a market rate of interesl. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction pri¢e unless the arrangemenl constitutes a financing transaction, where the debt instrument is measured at the presenl value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or SÈNI$ Ihat have been acquired in the ordinary Course of operations from suppliers. Amount$ payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabililies. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted fund$ funds 2023 2023 Totsl 2024 2023 Donations and gifts Legacies re1vable 14.458 5,000 5,000 19,458 5.000 14,384 14,384 19,458 5,000 24,458 14,384 14,384 Income from charitable activities 2024 2023 Events 10,940 13,305 Income from investments Unrnstrfcted Unrestricted funds funds 2024 2023 Income from listed investments Interest receivable 17,366 19,193 555 18.277 19,748 Expenditure on rnising funds 2024 2023 Expenditure on charitable activities Staging fundraising events 7,046 8,104 Investment management fees 5.201 5,582 12,247 13,686
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Expendlture on Charltable acllvlties 2024 2023 Education l Merit Awards Presented (see note 10} 8,805 10.775 Grant funding of activities (see note 9> 24,160 24,820 Support costs {see note 7) Govemance cosls (see note 7) 657 3,060 2,158 2.760 36,682 40,513 Analysis by fund Unrestricted funds Restricted funds 31,607 5,075 36.682 Forthe year onded 31 July 2023 Unrestricted funds Restricted funds 35,753 4,760 40,513 Support costs Support Governance CO8t8 C08ts 2024 2023 Bas18 of allocatlon Bank charges Travelling and subsistence Bookkeeping 80 577 132 Support 826 Support 1,200 Support 577 Independent exam fees Acwuntancy 1,410 1,650 1,410 1,650 1,285 Govemance 1,475 Govemance 657 3,060 3,717 4,918 Employees There were no employees during the year.
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Grants payable to tho charitable causes supported 2024 2023 Charities su ortin Blind In Business Bril. Blind Sport Fighl for Sight Extant work for the Blind: 500 500 1,000 500 500 500 1.000 500 2,500 2.500 Ch ri Deaf Blind UK Jubilee Sailing Trust Treloars ortln rk for DeaflBlind: 1,000 1.000 1500) 1.000 1,000 2,000 1,5CNJ Charl Oefinilely Theatre 500 500 ffllla Schools: Mary Hare School for the Deaf New College wOrster 7,000 7,000 7,810 7,810 14,000 15,620 ci Charlti Sl. Botolph's Charity City Hackney Carriage Drivers Lord Mayor's Appeal Masterfs Discretionary Donation Royal British Legion Trustees of the United Guilds ABF Soldiers Charity Livery Companies Skills Council Annual Subs Garden of Rememberance 500 1,500 1,000 soo 500 200 500 100 360 500 1,500 1,000 500 500 200 500 5,160 4,700 24,160 24,820 10-
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 10 Educatlon l Merit Awards Presented 2024 2023 Military Awards 56 IWoolwich} Air Cadets Meals ForArmy and RAF 579 Squadron Merit Award- Bob Harris 606 Squadron Meril Award- Rod Bennion HMS Queen Elizabeth Merit Award Haringey Sea Cadets 500 840 750 750 750 600 1,310 780 750 750 750 1,310 4,090 5,650 Education Awards The Bartlett School of Architectur8 Attendee Costs forAward Winners Construction Liveries Group annual subscription and awards costs NCW & MH Head Boys and Girls & attendee costs ALD LIA HND Science prizes for Mary Hare and NCS 1.000 650 405 1,210 500 500 450 1.000 240 515 1,720 500 1,000 150 4,716 5.125 8,805 10,775 11 Truste08 None of the trustees (or any persons connected with them) received any remuneration during the year. None of the trustees were reimbursed for expenses during the year. 12 Taxatlon The charity is exempt from tsxalion on its activities because all Fts income is applied for charitable purposes. 13 Net gainsl{lossesl on investments 2024 2023 Revaluation of investments Realised loss on sale of investments 44,335 (23.120) (17,662) {15,519) 21,215 (33,181) 11
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 14 Fixed asset investments Listed investments Cost or valuatlon At 1 August 2023 Additions Valuation changès Disposal$ 514.799 239,164 44,335 1241,429) At 31 July 2024 566.889 At 31 July 2023 514,799 Fixed asset invostments revalued The historical cost of investments included at valuation is £507,715 (2023.. £483.2021. 15 Debtorn 2024 2023 Amounts falllng due wlthln ono y•ar: Trade debtors Other debtors 640 17,670 740 19,892 18,210 20,632 16 Crodltor8: amounts falllng duè within one year 2024 2023 Trade creditors Other creditors Accruals and deferred income 349 565 5.250 2,374 3,080 6,164 5,454 12
THE WORSHIPFUL COMPANY OF LIGHTMONGERS CHARITABLE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 17 Restrfcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as lo how they may be used. At 1 August 2023 Income Expendlture At 31 July 2024 Education awards Military awards 11,500 2.64S 12,6001 12,4751 8,900 5,170 s,000 14,145 5,000 15,0751 14,070 Previous year: At 1 August 2022 Income Expendlture At 31 July 2023 Education awards Military awards 14,240 4,665 {2,740) (2,020) 11.500 2.645 18,905 (4,760) 14,145 18 Analy•l8 of net a88ets between funds Unrestricted Restrlcted 2024 2024 Total Unrestricted 2024 2023 Restricted 2023 Total 2023 Fund balances at 31 July are represented by-. Investments Current assetsl(liabilities) 556,869 37,535 556,869 51,605 514,799 53,569 514,799 67,714 14,070 14,145 694,404 14,070 608,474 568,368 14,145 582,513 19 Relatsd party transactlons There were no disclosable related paty transactions during the year (2023 - none). 13-