LIGHTHOUSE GLOBAL NETWORK CIIARITY NO 1163804 TRUSTEES REPORT AND FINANCIAL STATEMENT FOR THE PEIUOD ENDED 31 MAY 2024
LIGFTHOUSE GLOBAL NETWORK FOR THE PERIOD ENDED 31 MAY 2024 CONTEFtrs Page Legal & Administrdtive details Tntstee's report 45 Income & Expenditure Balance sh¢¢t
LIGHTHOUSE GLOBAL NETWORK LEGAL AND ADMINISTRATIVE DETAILS FOR THE PERIOD ENDED 31 MAY 2024 Mr Oluwasegun Julius Eniolu Mrs Mary Eniolu Mrs Martha Akhere Okojie Mr Abimbola Oknbule Mr Samuel TsauTai Katanda Trnsteeg: Correspondence Address: The Lighthouse Station Road Maidstone ME14 IQJ Charity Regtstr8tion No: 1163804
LIGHTHOUSE GLOBAL NETWORK TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MAY 2024 The Trusiees present theiT Annual Report and Accounts of the Charity for the period 3191 May 2024 Prln¢fipal Actlvlty The main objects of the charity are as follows. A) To advance the Cknistian Faith by means of preaching the Gospel in the United Kingdom and other parts of the world with a view to liberating minds, transforn]ing lives and helping to fvlfil dreams. {B) To relieve persons who are in conditions of ne&1 or hardship and support Christian activiti¢s and Christian organisations whose primary objectives arc to cngage in the conduct of Cl)ristian worship fait teaching and helping the needy, (C) To advance education in accordance with Christian PTin¢ipl¢s in the United Kingdom and other parts of the world by establishing schools. {D) To promote and fijlfil such other charitable purposes beneficial to the communities &8 deem necessary by the trustees frorn time to time Financial Review The charitys balance sheel as detailed on page 6, shows a net fi]nds p)sition of £102,447.15 (2023 - £129,058.96) Revlew of A¢thiltles Serving the homeless community in Maidstone with a weekly soup kilchen where the homeless come in for a hot meal and a friendly chat. The Charity (tInUeS to run a women's wup that supports wom¢n of all ag¢s addressing issues like parenting, loneliness, Career, personal and pmfessional development. Following the pandemic, we have kept the online meetings to cater for women that are not local to Maidston4 but now also meet in person once a quarter. We have women from as far as Bart)ados joining us at these meetings. This year we also ran a singles seminar creating space for single ppIe to come together, make new friends, Shat¢ experiences and receive relevant teachings to ¢mWff and equip them in this season of their lives. The Charity Continu to run in person and onlin¢ services, prayer rneetings and supwrt groups for both its rnembet3 and members of the community. The major 50urcc of income this year was from donations. Totsl income for the year under review was £74,868.89 (2023 - £65,715.(H), Investment Income £1,648.(X) and total ¢xp¢nditure was £103,098.70 (2023 - £45.808.54} Rlsk Management The tnLStees are aware of the risks which the charity faces and are continually taking steps to minirnise such risks.
Reserves It is the policy of the Charity to maintain fimds to meet with emergencie4 athninistration cost and support in oiheT ar¢as. Investments Policy There are no restrictions on tbe trustees, power to invest. There wu¢ no investments during th¢ p1[ Trustees Responsibilities Under the Chariti¢s Act 1993, the Inte are required to prq)are a statement of accounts for each financial year which gives a true and fair view of the state of affairs of the charity at the end of the financial year and of the incoming resources and: Select suitable accounting p)li¢ies and apply them consistently, Make judgements and estimates that are reasonable and prudent, Stat¢ wh¢th¢r appIlbI¢ aOllOtIng standards and ststements of r¢comm¢nd¢d practic¢ hav¢ b¢cn followed, subject to 8ny material departures disclosed explained in the statemcnt of accounts. Prepare the financial statements on the going concern b&8is ullle it is inappropriate to presume that the chaTity will continue its operations. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity at that time and to enable the trnstees to ensure that any slatement of account preped by them sign on behalf of the tnjstees of Lighthouse Global Network Mary Eniolu Date.. 30 March 2024
LIGirfHOUSE GLOBAL NETWORK INCOME & EXPENDITURE FOR THE YEAR ENDED 31 MAY 2024 Notss 2024 2023 tncome in Period from donations Investsnent Income Sales Gift Aid Int¢r¢st 67,026.01 1,648.(X) 1.959.96 5,791.29 91.63 65,715.04 3025.46 TOTAL INCOME IN PERIOD 76,516.89 68,740.50 Tota] Expenditure (103,098.70) {45,808.54) Net incomo l(expendlture) 128.581.81) 22,931.96 Total funds brought fornard 129.058.96 106,127.00 Totsl fund8 ¢arrigd forward 102,477.15 129,058.96
LIGirrHOUSE GLOBAL NETWORK BALANCE SHEET AS AT 31 MAY 2024 Notes 2024 2023 Fixa Assets - Fre¢hold prop¢ty At Cost Dq)reciation 375,(KK) 375,000 (7.500) (7,500) Accumulated Depreciation NBV 375,000 360,IKK) Cash at bank and in hand 4092.38 25,244.47 Creditors 8mount falling thie wtthin one year (266,121.40) (256,185.51) NET CURREiYf ASSETS (LIABILITIES) 102.477.15 129,058.96 TOTAL ASSETS less current Ilabllltles 102.477.15 129,058.96 TOTAL NET ASSETS (LIABILTTIES) 102.477.15 129,058.96 RESERVES 102.477.15 £129,058.96 Approved and Signed on behalf of the Trustees by: Mrs Mary Eniolu Trnstee Date: 31 March 2025 PAYMENTS TO TRUSTEES No payments were made to any Trustees in the period