Charlty registration number 1154869 Company reglstration number 08484445 (England and Wales BRIGHTON LIGHT TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Caladine Charlered Certified Accountants BRIGHTON LIGHT TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees D H M Treneer APop S Walker L Lurcock O Wlson S Lynch E Fletcher R Francis T Ison (Appointed 9 May 2024) (Appointed 9 May 2024) (Appointed 9 May 20241 Charlty number 1154889 Company number 08484445 Prlnclpal addresj 6&71 Holland Road Hove East Sussex BN3 1JN R•gl8terod offlce 65-71 Holland Road Hove East Sussex BN3 1JN Independent examlner John Caladlne FCCACTA FCIE Caladine Limlted Chantry House 22 Upperton Road Eastboume East Sussex BN211BF BRIGHTON LIGHT TRUST CONTENTS Paga Trustees, report statement of trustees, responslblllties Indep8ndent examlnefs report ststement of financial actlvltie8 statsment of finandal position Note8 to the financbal ststernent8 8-15 BRIGHTON LIGHT TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financlal statements for the year ended 31 December 2024. The financlal statements have been prepared in accordance with the accounting policies set out In note 1 lo the financial statements and comply with the trust's Memorandum and Articles ofAssociation, the Companies Act 2006 and "Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effeclive 1 January 20191" ObJectlve8 and actlvltles The trust's objects are the prevention or relief of povety by the provision of funds. goods or serrfice8 of any klnd in Brighton and Hove and in such parts of the United Kingdom or the world as the Trustees think fit. Public benefit The trustees have paid due regard to guldance Issued by the Charfty Commlssion in decldlng what activities the trust should undertake. Achlevements and perfomiance Significant activities and achi8vementS 8gainst objectives 2024 was another hectic and challenging year for the B Tlghton Llght Trust (the charitable trust behind the Christians Agalnst Povety (CAP) Debt Centre In partnership wlth Holland Road Baptist Church. Brlghton CAP Centre 2024 was an extremely dlfflcult year for the Centre with the passlng of our Manager and frlend Neil. He was such champion for CAP and had a true heart for those in poverty. He will be trnly missed. After hls passing the church made the decision to close the centre to new clients until we had lime to grieve and plan how to move forward. Tlna has become the centre manager afler WOTklng with Neil for many years. Jaclyn is one of our new debt coaches and is sponsored by Sl Peters. She is employed for 3 days a week and replaces Laurel Nathan. Jactyn has been Working in recovery and restorative ministrles at Sl. Peters and contlnues to do so with Safehaven and Falth in Recovery We also have Roger, who has lolned u8 as a volunteer one day a week. He has been a committed Evangelist throughout his working Ilfe. He worked as a mentor and Associate Evangelist with Through Falth Missions until h8 retired, He is a welcome addition to our team. We now have a team of Tlna, Jaclyn and Roger. Our émphasis has been on Iralnlng and building team relationships. We are currently not 3ttendlng food banks, but this may change In the future. Increaslngly. we 8re seeing a much higher volume of complex cases with our clients. This mean5 our clients need more than three visits as their need5 are so varied. Subsequently, our mission 15 to encourage our clients lo ¢onnecl wlth the church. communities and seNlces for ongoing support and, ultimately to Christ. With all the changes and diffiGulties, we were blessed to see 26 cllents become debl-free In 2024. BRIGHTON LIGHT TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Acts I St Bamards grant fundlng Jerllee has taken control of processlng all applicatlons.we are very grateful for her support wilh thls. In 2024, we distributed 32Acts grants to the value of £5995 7 St. Bemards grants to the value of £3176 2 Pelican Parcels deliveries CAP 8radlord 2024 was a year of continuing change both with staff and systems and this will continue throughout 2025. The aim 1$ to create a more efficient and effective process to help our Clients become debt-free. Blessed are th• poor In 8plrlt, for thelr•18 the klngdom ol heaven Matt 6 v 3 Flnan¢l•l revlew The trust had unrestrlcted Income of £46,95812023: £57,029) and expenditure of £45,528 {2023.' £55,949) resultlng In a surplus of £1,430 on general funds for the year (2023: 6urplus of £1,080 on general funds). Res8rves policy It is the pollcy of the trust that reserves should be maintained at a level equivalent to between three and six month's operational expenditure. The trustees conslders that reserves at Ihls level will ensure that, In the event of signlficant drop Sn funding, they will be able to continue the trust'8 current activities while consideration Is given to ways in which additional funds may be raised. ReseNes have been maintained at this level during the year . At 31 December 2024 unrestricted funds were £12,623 (2023.. £11,193). The Trustee8 are aware that this should be at 8 higher level to accord wlth the policy, Major risks The truslees have asse$$ed the major risks to whlch the trust Is exposed, and are satlsfied that Sy8tems are In place to miligate exposure to the major risks. Structure, govemance and rnanagement The Iwst is a charlty and a company limited by guarantee, incorporated on 10 April 2013. The trust cornmenced actlvltles on 1 January 2014 with the transfer of activities from the restricted fund of Holland Road Baptisl Church Trust. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial ststements were: D H M Treneer APop S Walker D I Collins L Lurcock O Wilson S Lynch E Fletcher R Francis T Ison (Resigned 9 May 20241 {Appointed 9 May 2024) (Appointed 9 May 2024) (Appointed 9 May 20241 BRIGHTON LIGHT TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Recniitrnent and appointment of trustees New trustee5 are appointed, when required, by the exlstlng trustees. None of the trustees have any beneficial interest in the company. All of the trustees are mernbers of the company and guarantee to contribute £1 O in the event of a winding up. t Current Ilabllltle8 10 N•t Currènt assets 15,534 14,684 The fundg of the trust Restricted Income funds Unrestrlcted funds 12 13 2,911 12,623 3,491 11,193 15,534 14,884 The company is entitled to the exemptlon from the audlt requirement contained in sectlon 477 of the Companies Act 2006, for the year ended 31 December 2024. The dlrectors acknowledge thelr responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparatlon of financial statement8. The members have not required the company to obtain an audit of its financial statements for the year In question In accordance with section 476. These financial statements have been prepared In 8ccordance with the provlslons appllcable to tompanles subject to the small companies regim8. n8 clal 8talemenl8 were •pprovod by ts truat8•J on 10 July 2025 IP*dlker ee Company reglstratlon number 08484445 (England and INales) BRIGHTON LIGHT TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles Company Information Brighlon Light Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 71 Holland Road, Hove, East Sussex, BN3 1JN. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the trusfs Igovemlng document], the Cornpanies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ( FRS 102,1 and the Charities SORP "Accounling and Reporting by Charities= Statement of Recommended Practice applicable lo charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (effective 1 January 2019). The trust is a Publlc B&n8flt Entity as defined by FRS 102. The trust has taken advantage of the provislons In the SORP for charltles not to prepare a Statement ol Ca$h Flow8. The financlal 5tatemenls are prepared In sterling, which is the functional CUTrency of Ihe trust. Monelary amounts In these flnancial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out belaw. 1.2 Golng concern At the time of approving the financial statements. the tru5tee5 have a reasonable expectation that the trust has adequate resources to conlinue in operallonal existence for the foreseeable future. Thus the trustee8 continue to adopt the going concem basls of accounting In preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use 8t the discretion of the trustees in furtherance of thelr charitable objectlves. Restrtcted funds are subject to specific Gondltlons by donors or grantors as to how they may be used. The purposes and us8s of th8 restrfcted funds 8re set out In the notes to the fin8nclal ststements. 1.4 Income Income is ￿Cognised when the trust 15 legally entllled to It after any performance condltlons have been met, tha amounts can be measured rellably, and it is probable that Income wlll be received. Cash don8tlons are recognised on receipt. Other donallons are recognlsèd once the trust has been not6fied of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognlsed on receipt or otherwise rf the trust has been notified of an impending distribulion, the amount is known. and receipt Is expected. If the amount 15 not known, the legacy is treated as a contingent asseL 1.5 Expenditure Resources expended are recognised in the period in which they are incurred and allocated to the particular cost centre to which they rel8le. These costs include irrecoverable VAT. There are no fixed assets. BRIGHTON LIGHT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollciès Icontlnued) 1.6 Cash and cash equlvalenls Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investrnents with original maturities of three rnonths or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current Ilabilities. 1.7 Flnanclal Instruments The charity only has financial assels and financlal Ilabilities of a klnd that qualify as basic finandal instruments. 8a51c financial instruments are initially recognised at transactlon value and subsequently measured at their settlement value. Basic financial asset6 include trade and other receivables and cash and bank b8lanGes. Baslc financlal li8bilities includlng trade and and other payables where trade payables are obligation8 to pay for goods or s8rvlces that have been acquired on the ordinary course of operations from suppliers. Baslc flnanclal assets Basic financlal assets, whlch Include Irade and other recelvables and cash and bank balances, are Inltia1Sy measured at transaction price Including transaction costs and are 5ub5equently carried at amortised cost using the effectlve Interest method Unless Ihe a￿angement constitutes a financing tran8action. where the transaction is measured at the present value of the future recelpts discounted at 8 market rate of interest. Flnancial assets classlfied as receivable wlthln one year are not amortised. Basic financlal Ilabllities Basic flnancial liabilities, including trade and other payables and bank loans are initialty recognlsed at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortlsed. Debt instruments are Bubsequently carrled at amortised cost, using the effectlve Interest rate method. Trade payables are obllgations to pay for goods or services that have been acquired in the ordlnary course of operations from suppllers. Amounts payable are classified as current liabilitles if payment Is due within one year or less. If nol, they are presented as non-current liabilities. Trade payables are recognised Initially at transactlon price and 8ub8equently measured at amortised cost using the effectlve Snteresl method. Derecognition of financlal Ilabllltles Financial liabilitles are derecognised when the trust's contractual obligatlons explre or are discharged or cancelled. 1.8 Employee beneflls The cost of any unused holiday entitlement 18 recognlsed in the period In which the employee's services are recelved. Terminats'on benefits are recognised immediately as an expense when the trusl is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.9 Retlroment beneflts Payments to defined contribution retirernent benefft schemes are charged as an expense as they fall due. 1.10 Taxatlon In the opinion of the trustees, the company is not liable to United Kingdom corporation tax on its charitable activities. BRIGHTON LIGHT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income Irom donatlons and legacles Unrestrtcted Restrlctsd funds funds 2024 2024 Total Unre8trlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Donations and gifts Grants 46,935 46,935 9,066 57,011 32,870 1,764 89,881 1,764 9,066 48.935 9,086 56.001 57.011 34.634 91,645 Donatlons and glft4 Donatlons and gifts Gift ald receivable Other 45,810 1.125 45,810 1,125 52,866 1,345 3,000 32,633 85,299 1,345 3,237 237 48,935 46,935 57,011 32,870 89,881 Income from Investments Unrestrlcted Unre8trlctod funds funds 2024 2023 Interest recelvable 23 18 10- BRIGHTON LIGHT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendllure on charltable activitie• Charltable activitieg Charltable activities 2024 2023 Dlrect costs staff costs Contract servlces stationery and equipment Pastoral gifts staff tralnlng, travel and other costs 29,267 5,476 265 673 37,001 5,476 828 143 470 35.681 43,918 Grant fundlng of activltles (see note 5) 17,648 43,316 Share of support and governance costs18ee noto 6 Support Governance 227 1,820 286 1,760 55,174 89,280 Analy818 by fund Unrestrlcted funds Restricted funds 45,528 9,646 55,949 33,331 55,174 89,280 Grnnts payable Charltable actlvltle8 2024 Charitable activitie8 2023 Grants to institutions.. CAP services 8,000 9,985 Grants to individuals 9,646 33,331 11 BRIGHTON LIGHT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocatsd to activities 2024 2023 Computer running costs Sundry expenses Governance costs 201 28 1,620 260 26 1,760 1,847 2,046 Anal se Charitable activities 1,847 2.046 2024 2023 Governan¢• costs comprl8e". Accountancy Independent examination fees B8nk charges 1.320 240 60 1,440 240 80 1,620 1.780 Employa•8 Number of employeos 2024 Number 2023 Number The average monthly number of employees durlng the year vrds: Employment costs 2024 2023 Wages and salaries Pension Gonlribulion8 27,057 2,210 33,754 3,247 29.287 37,001 Taxation The charity is exempt from taxation on its activitles because all its income is applied for charitable purposes. 12 BRIGHTON LIGHT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Trade and other racolvables 2024 2023 Amounls falling duo wlthln one year: other receivables 226 55 10 Curr•nt Ilabllltle8 2024 2023 other taxation and soclal securty Accruals and deferred Income 109 1,646 577 1,618 1,755 2,195 11 Retlrgment boneflt 8chemos 2024 2023 Deflnad contrlbutlon 8chomo8 Charge to profit or loss In respect of defined contribution schemes 2,210 3.247 The trust operates a defined contributlon penslon scheme for 811 quallfying employees. The asset5 of the scheme are held separately from those of the trust in an independently admlnlstered fund. 12 Re8trlctsd fund• The restrfcted fund8 of the charty compr186 the unexpended balances of donations and grants held on trust subject to speclfic conditions by donors as to how they may be used, At 1 January 2024 Incomlng Resource8 resource• expended At31 D•cembor 2024 St Bernard's Grant Acts 435 Chalk Hill Trust 731 760 2,000 3,216 5,850 (3,491) {5,496) (680) 456 1,115 1,340 3,491 9,066 {9,646) 2,911 13- BRIGHTON LIGHT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Restrlcted lundg (Continued) Previou8 year: At 1 January 2023 Incomlng resources Resources expended At31 December 2023 st Bernard's Grant Acts 435 Chalk Hill Trust 858 1,330 18,134 14,500 2,000 {18,261) 115,070) 731 760 2.000 2,188 34,634 33,331 3,491 st Bernard's Grant - Thls represents fijnds recelved from St Bernard's charity (registratlon no. 207727) and Is Used to relieve hardship for vulnerable women In crisls. Acts 435 This represent funds glven through the Acts 435 charfty giving plattorm Iregl8tration no.1131305) and is used to provide financial assistsnce for individuals in need. Chalk Hill Trust Grant - Thi8 16 a contribution to fund work on debt relief orderslbankruptcy costs. 13 Unrestrlcted funds The unrestricted funds of the charlty comprise Ihe unexpended balances of donatlons and grant5 vthich are not subject to specific condltlons by donors and grantors as to how Ihey may be used. These Include designated fund5 which have been set aside out of unrestricted funds by the trustees for speclflc purposes. At 1 January 2024 Incomlng resources ReJource8 oxpended At31 December 2024 General funds 11,193 46,958 145,528) 12,623 Provlous yoar: At 1 January 2023 Incomlng Re8ourc•$ rosources expended At31 D•Gember 2023 General funds 10,113 57,029 (55,9491 11,193 14- BRIGHTON LIGHT TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Analysls of net asséts between funds Unrestrlct8d funds 2024 Restrl¢ted funds 2024 Total 2024 At 31 Decèmber 2024.. Current assetsllllablllties) 12,623 2,911 15.534 12,623 2,911 15,534 Unre8tTlctsd lunda 2023 Restrlcted funds 2023 Total 2023 At 31 Decernbor 2023.. Current assetsllliabllltles) 11,193 3,491 14,684 11,193 3,491 14,684 15 Trusto05 and rolated party tranJactlon8 None of the Trustees lor any persons connected wlth them) received remuneratlon during the year and none were reimbursed any expenses. The aggregate donations from the Trustees durlng the year were £1,320 (2023.. £1,280). The Trust are able to use the facllltie8 of Holland Road Bapti8t Church Trust, a Trust wllh common Trustees, to cary out Its function effectively. The Trust received gift income of£21,77512023: £25,675) from Holland Road Baptist Church TTUSt. The Trust paid Holland Road Baptist Church TTUSt £5,476 {2023'. £5,478) for management services during the year. 15-