OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← The Lighthouse London Community Trust

2023-12-31-accounts

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

Charity number: 1156643

THE LIGHTHOUSE LONDON COMMUNITY TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 22

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees

Chi-Eun Lee, Chair Siji Adesemowo Celine Djibo Tchatchouang Zim, Treasurer - Hayden Cole Rajotte (resigned 30 June 2023) Sharon Henry Song-En Sarah Tan Rev. Andrew Keighley Tess Oyediran Nana Darko LLB (resigned 7 February 2023)

Charity registered number

1156643

Principal office

c/o HTSC C of E Church Finchley Road London NW3 5HT

Accountants

Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

Page 1

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report together with the financial statements of The Lighthouse London Community Trust (the charity) for the period 1 January 2023 to 31 December 2023. The trustees confirm that the annual report and financial statements of the charity comply with the charity's governing document, the Charities Act 2011 and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published on 16 July 2014.

Objectives and activities

a. Policies and objectives

Acting within a Christian ethos, to act as a resource for young people between ages of 16 to 24 living in North London by providing advice and assistance and organising programmes of physical, educational, and other activities as a means of achieving the principal object of the charity referenced below. The Lighthouse London Community Trust aims to ignite a vision of the possible in the lives of disadvantaged young people through a one year programme of support which starts with a 6-week intensive course of training. There are six cohorts of the programme each with 10-15 young people. After the six week course the young people continue to get support with applying for jobs and ensuring they are settled in work once they get a job for a one year period. Through the course, it is the aim of the Trust to inform, prepare, and support young people into sustained employment, training, or further education. The specific aim of the Trust is that 75 percent or more of young people who take the course should gain employment, or continue in education, or training and still be there one year later.

In addition, the Trust aims to unite local community, business, and individuals in the support and advancement of the centre, and through it, local disadvantaged young people. Our strategy for achieving these outcomes is to raise sufficient funds to run a Centre, staffed by a Centre Manager, Lead Coach, and Graduate Coach. Funds are primarily raised through a fundraiser held once a year. Members of the trust are also involved in connecting with businesses in the local community to gain their support, as well as applying for grants from outside institutions. In addition to fundraising, members of the trust actively promote the Centre through personal relationships, connections with local business, and social media.

In September 2021 the trustees increased the service provision by providing a mentoring support manager working with a younger age group run in partnership with XLP. Mentors are paired with young people, meeting with them regularly to help them make good choices with the aim of empowering them to complete their education, avoid anti-social behaviour and ultimately become independent and confident contributors within their communities.

b. Volunteers

15 people were engaged in mentoring young people through XLP in 2023.

42 people supported the spear programme as volunteer mock interviewers, 11 people have shared their career experiences with participants and 10 volunteers were involved in our fundraising event in addition to the 8 voluntary trustees.

Page 2

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

a. Review of activities

Six Spear programmes were completed in the calendar year 2023 (all of which were in person). The courses were facilitated by a full-time Centre Manager, Lead Coach and Graduate Coach. One cohort was facilitated without a Graduate Coach (55SC), so a two person team ran this, which reflects why 55SC was a smaller cohort (due to limited capacity).

Figure 1: Recruitment and graduation figures

Course Number Enrolled Graduated
2023
54SC 16 11
55SC 10 7
56SC 15 12
57SC 16 13
58SC 17 13
59SC 15 12

As of the end of 2023, Spear Camden’s average 12 month EET stat was 61%.

The 2023 June Fundraising went ahead, where donors were able to hear from someone who completed the programme.

Throughout the year (apart from the exception of 55SC – see explanation above), the numbers of enrolled either hit or exceeded the target of 15. This is due to increasing strengthening of local referral networks, relationships with JCPs and diversifying our referral sources (Care Leaver teams, Council Career services, Youth Clubs etc). Social isolation and mental health issues continue to be a common barrier to employment for those attending Spear. A relationship has been established with a local youth centre which specialises in Mental Health support, where young people are introduced to the service as part of each programme, as well as the youth centre referring young people to the programme.

Both Centre Manager and Lead Coach have been in post since Summer 2022. The Graduate Coach who was recruited in August 2022 left in February 2023 due to moving onto another opportunity. A new Graduate Coach was recruited and began in April 2023, who then stayed until November 2023 and then was replaced by a new Graduate Coach in December 2023.

For the XLP mentoring programme 2023 presented unique challenges in supporting the youth, with an increase in mentees struggling with their mental health, staying in school, and childhood trauma to name a few but our dedicated and resilient volunteer mentors consistently went above and beyond for our vulnerable young people. Roberta, in her role as a mentor support advocate, has played a crucial role in professional spaces, championing the cause of our young people. In March, we organised a weekend getaway to the countryside, bringing together 70 mentors and mentees. This weekend fostered deep connections and provided a platform for mentors to be celebrated for their unwavering commitment. June, marked a memorable moment when Roberta took a bold leap, skydiving to raise funds for XLP before attending the LLCT fundraiser, where a mentee and mentor shared their inspiring mentoring journey. Throughout the summer, our mentees embraced the sun, integrating our young people further into the wider XLP community. In October, 25 kids experienced the magic of the theatre for the first time, watching Frozen and opening new opportunities and experiences for them. We concluded the year with an ice-skating adventure, all limbs intact and a few bruised bottoms, creating lasting memories for both mentees and mentors. We were also able to bless some families with supermarket vouchers before the Christmas break. XLP Despite the challenges, this year has been a testament to the resilience and dedication of everyone involved in our youth mentoring program.

Page 3

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

b. Reserves policy

The Lighthouse London Community Trust plans to hold a Reserve equal to the cost of running the centre for a period of 6 months. This amount would act as a safeguard for years in which fundraising events perform poorly, or adequate funding is not achieved for reasons outside the trusts' control. This figure is in effect an average as the focus on one main fundraising event per year means that reserves vary significantly throughout the year. We currently exceed our reserve target.

c. Principal risks and uncertainties

The majority of funding is generated from an annual fundraising event, without which funds would be severely depleted. Alternative sources of funding are being sought e.g. grant funding, to reduce the reliance on the annual fundraising event, and reserves are being maintained as per policy above.

Recruitment of participants for the Spear programme improved in 2023, however, the percentage of young people in employment, education or training dropped to 61% (target is 75%). Achieving two different targets which compete for team time is challenging and the risk is that if too much focus is given to recruitment, then not enough is given to post course support and the percentage of trainees in education, work or training reduces, but if too much focus is given to post course support then not enough trainees are recruited. Good management of the team with equal focus on both targets is planned to increase the number of trainees in employment, education and training whilst maintaining the good levels of trainees recruited.

Page 4

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Structure, governance and management

a. Constitution

The Lighthouse London Community Trust is a charitable incorporated organisation governed by a constitution, according to the guidelines set out by the Charity Commission. The constitution was officially registered with the Charity Commission on 11 April 2014.

The principal object of the charity is to act as a resource for young people between the ages of 16 to 24 living in North London by providing advice and assistance and organising programmes of physical, educational, and other activities as a means of:

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are Nominated and co-opted under the terms of the Trust deed.

Plans for future periods

The target for Spear remains 15 participants per programme, 6 programmes per year and 75% of participants in work, education, or training 1 year after graduating, Spear Camden’s plan is to consistently see 15 participants per programme throughout the duration of 2024.

XLP aim to have recruited, trained and matched 20 mentors with mentees in 2024.

Page 5

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on 18 September 2024 and signed on their behalf by:

................................................

C Lee

Chair

Page 6

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Independent examiner's report to the Trustees of The Lighthouse London Community Trust ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: Dated: 18 September 2024 Robert Smith ACA

Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

Page 7

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income from:
Donations and legacies
3
Other trading activities
4
Investments
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2023
£
16,693
10,000
-
26,693
-
11,997
11,997
14,696
3,000
14,696
17,696		 Unrestricted
funds
2023
£
69,632
79,401
275
149,308
6,215
199,492
205,707
(56,399)
157,870
(56,399)
101,471		 Total
funds
2023
£
86,325
89,401
275
176,001
6,215
211,489
217,704
(41,703)
160,870
(41,703)
119,167		 Total
funds
2022
£
140,917
68,903
127
209,947
6,733
210,437
217,170
(7,223)
168,093
(7,223)
160,870

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 10 to 22 form part of these financial statements.

Page 8

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST

UNAUDITED

BALANCE SHEET AS AT 31 DECEMBER 2023

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 21,427
126,465
147,892
(29,048)		 2023
£
323
323
118,844
119,167
119,167
17,696
101,471
119,167		 801
161,595
162,396
(2,871)		 2022
£
1,345
1,345
159,525
160,870
160,870
3,000
157,870
160,870

The financial statements were approved and authorised for issue by the Trustees on 18 September 2024 and signed on their behalf by:

................................................

C Lee

Chair

The notes on pages 10 to 22 form part of these financial statements.

Page 9

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. General information

The Lighthouse London Community Trust is a registered CIO with the Charity Commission for England & Wales (charity number: 1156643). The principal place of business can be found on the reference and administrative details page.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Lighthouse London Community Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 10

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.3 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 settlement and the amount of the 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 directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between 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 allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.4 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

2.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 11

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.9 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.10 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.11 Fund accounting

General funds are unrestricted funds which 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.

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 costs 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.

Investment income, gains and losses are allocated to the appropriate fund.

Page 12

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. Income from donations and legacies

Donations
Grants
Gift Aid recoverable
Donations in kind
Total 2023
Donations
Legacies
Grants
Gift Aid recoverable
Donations in kind
Total 2022		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
-
27,920
16,693
27,947
-
3,765
-
10,000
16,693
69,632
Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
16,348
-
38,412
30,000
45,240
-
917
-
10,000
30,000
110,917		 Total
funds
2023
£
27,920
44,640
3,765
10,000
86,325
Total
funds
2022
£
16,348
38,412
75,240
917
10,000
140,917

Page 13

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

4. Income from other trading activities

Income from fundraising events

Donations
Grants
Gift Aid recoverable
Total 2023
Donations
Gift Aid recoverable
Total 2022		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
10,000
59,459
-
10,648
-
9,294
10,000
79,401
Unrestricted
funds
2022
£
61,609
7,294
68,903		 Total
funds
2023
£
69,459
10,648
9,294
89,401
Total
funds
2022
£
61,609
7,294
68,903

5. Expenditure on raising funds Costs of raising voluntary income

Unrestricted
funds
2023
£
Events - management
1,609
Events - catering
2,165
Events - other costs
2,441
Total 2023
6,215		 Total
funds
2023
£
1,609
2,165
2,441
6,215

Page 14

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Expenditure on raising funds (continued)

Costs of raising voluntary income (continued)

Events - management
Events - catering
Events - other costs
Total 2022		 Unrestricted
funds
2022
£
4,704
1,729
300
6,733		 Total
funds
2022
£
4,704
1,729
300
6,733

6. Analysis of expenditure on charitable activities

Summary by fund type

Charitable activities
Total 2023
Charitable activities
Total 2022		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
11,997
199,492
11,997
199,492
Restricted
funds
2022
Unrestricted
funds
2022
£
£
30,002
180,435
30,002
180,435		 Total
2023
£
211,489
211,489
Total
2022
£
210,437
210,437

Page 15

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

7. Analysis of expenditure by activities

Charitable activities
Total 2023
Charitable activities
Total 2022
Analysis of direct costs
Staff costs
Course costs - resources
XLP staff costs
Course costs - graduation		 Activities
undertaken
directly
2023
£
116,602
116,602
Activities
undertaken
directly
2022
£
120,207
120,207		 Support
costs
2023
£
94,887
94,887
Support
costs
2022
£
90,230
90,230
Total
funds
2023
£
83,863
2,070
30,017
652
116,602		 Total
funds
2023
£
211,489
211,489
Total
funds
2022
£
210,437
210,437
Total
funds
2022
£
87,649
1,530
30,000
1,028
120,207

Page 16

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Rent, service charge & management
Staff meetings, lunches & functions
Printing & stationery
Telephone costs
Depreciation
Website & database costs
Insurance
Bank charges
Payroll fees
Legal & professional fees
Governance costs		 Total
funds
2023
£
65,000
1,126
474
488
1,023
697
1,076
942
654
6,118
17,289
94,887		 Total
funds
2022
£
65,000
1,071
1,249
672
1,023
745
944
497
650
4,229
14,150
90,230

Rent, service charge & management:

Of the total costs of £65,000 shown above, £55,000 is paid to Resurgo to cover admin and IT plus a gift contribution towards central costs of managing the team and provision of the Spear Programme.

8. Independent examiner's remuneration

2023 2022
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 2,540 2,520

Page 17

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2023
£
77,908
2,068
3,887
83,863		 2022
£
81,008
2,626
4,015
87,649

The average number of persons employed by the Charity during the year was as follows:

2023 2022
No. No.
Employees 3 3

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel, consisting of the board of trustees, received no remuneration during the period (2022 - the same).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 December 2023, expenses totalling £209 were reimbursed or paid directly to 8 Trustees (2022 - £167).

Page 18

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11. Tangible fixed assets

Cost or valuation
At 1 January 2023
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Office
equipment
£
11,745
11,745
10,400
1,022
11,422
323
1,345

12. Debtors

Due within one year
Trade debtors
Prepayments and accrued income
Tax recoverable		 2023
£
20,515
852
60
21,427		 2022
£
-
801
-
801

Page 19

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13. Creditors: Amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Other creditors
Accruals and deferred income		 2023
£
13,750
10,548
1,482
3,268
29,048		 2022
£
-
-
26
2,845
2,871

14. Financial instruments

2023 2022
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 126,465 161,595

Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand.

Page 20

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

15. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Spear
XLP Fund
Total of funds
Statement of funds - prior year
Unrestricted funds
General Funds
Restricted funds
Spear Transport Fund
XLP Fund
Total of funds		 Balance at 1
January
2023
£
157,870
-
3,000
3,000
160,870
Balance at
1 January
2022
£
165,091
2
3,000
3,002
168,093		 Income
£
149,308
8,997
17,696
26,693
176,001
Income
£
179,946
-
30,000
30,000
209,946		 Expenditure
£
(205,707)
(8,997)
(3,000)
(11,997)
(217,704)
Expenditure
£
(187,167)
(2)
(30,000)
(30,002)
(217,169)		 Balance at
31
December
2023
£
101,471
-
17,696
17,696
119,167
Balance at
31
December
2022
£
157,870
-
3,000
3,000
160,870

Page 21

Docusign Envelope ID: C0D4E7C3-974F-4F20-9019-96C54AE2F035

THE LIGHTHOUSE LONDON COMMUNITY TRUST UNAUDITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

15. Statement of funds (continued)

Fund Aims

Spear transport fund was set up to account for donations received to pay for Spear course participant's transportation to and from sessions.

Spear fund was set up to account for donations specifically received for the Spear Programme. In 2023 this was the Big Give Children's Champion challenge.

XLP fund was set up to account for donations received specifically to fund the XLP Mentoring Manager. In 2023 this was the Big Give Christmas Challenge.

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
-
323
17,696
130,196
-
(29,048)
17,696
101,471		 Total
funds
2023
£
323
147,892
(29,048)
119,167

17. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £3,887 (2022 - £4,014). Contributions totalling £1,482 were payable to the fund at the balance sheet date (2022 - £26).

18. Related party transactions

During the period, some of the trustees of The Lighthouse London Community Trust were also trustees of Holy Trinity Swiss Cottage (HTSC) church, also now known as The Lighthouse London, and the two organisations were administered and run from the same premises.

Rental expenses of £10,000 (2022 - £10,000) were invoiced to The Lighthouse London Community Trust in the year for use of HTSC's facilities, however, HTSC did not seek payment of all of the rent and accordingly a donation in kind of £10,000 (2022 - £10,000) has been shown within these accounts.

Other operational expenses totalling £10,548 (2022 - £nil) were also invoiced by HTSC in the year.

Total donations received from trustees during the year amounted to £4,438 (2022 - £5,014).

Page 22