OpenCharities

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

2025-05-31-accounts

Lighthouse Global Network Charity Accounts and Trustees, Report for the Period Ended 31 May 2025 Financial statement prepared in accordance with Charities Act (England & Wales) 31 MAY 2025 Lighthouse Global Network The Llghlhouse, Station Road. M8idstone, ME14 1QJ

Table of Contents 1 L•gal and Admlnlslratlvo Information................................................................................ 2Trust8es' Annu81 Report................................,..............,,..............,....,,..........,........ 3 Financial Review.......................................................................................................... 4 Balance Sheetas at 31" May2025...................................................................................... S Rl8kMan8gement............................................................................................................ 6 Reserve Polity.......-....-................................................................................................. 7 Statement of Trustees. Responslbllitias

  1. Legal and Administrative Information Charlty Name Lighthous8 Global Ngtwork Charity Registratlon Number 1163804 ReO$lered Offl¢o The Lighthouse. Station Road. Maidstone. ME14 1QJ Op•rationalAddrg88 The Lighthous8, Station Road, Maidstone. ME14 1QJ Trusleos duringtho Mr Oluwasegun Julius Eniolu, Mr8 Mary Eniolu {Chair8nd perlod signatory), Mrs Martha Akhere Okojie, MrAbimbola Okubule Bankers Barclays Bank Indopendont Ex8minerlAuditor MJB AVANTI TAX ACCOUNTANTS
  2. Trustees, Annual Report Objectives and Activities Lighthouse Global Network is dedicated to supporting charitable initiatives. alleviatlng poverty. and fostering ¢ommunity d8vèlopmentthrough grant making. outreach actniities, and the provlslon of essential services. Duringthe perrod under revlew. the organisation continued to deliveremergency relief. mentoring programmes, and to strengthen its core charitable activities. To advance the Chrlstian faith through preachlngthe Gospel in the UK and globally. with the aim of liberating minds, tr8nsforming lives. and helping people fulfill their dreams. To reli8ve persons in need or hardship and to support Christian activities and organizations eng8ged in worship. teaching, and care forthe needy. To advance education based on Christian principles, including through the establishment ofschools. To support other charitable purposes as deemed necessary bythe trustees.

Review of Activities Community Support: Weekly soup kitchen Serving homeless members of the Maidstone community. offering hot me815 and companionship. Women's Support Group. A continuing women's group supportingwomen of all ages in m8tters such as parenting. loneliness, personal and prots88ional development. Hybrid format maintainod afterthe pandemic. allowing participation from locations as faras Baib8do8. Slngies SemlnarA seminarforsingie adults aimed at community building. sharing experiences. and providinEempowerinEteaching. Falth and Worship: Delivery of in-person and online services, prayer meetings. and supportgroups for both members and the wider community. The organisation sustained its Operational resilience. ensuring continued access to its programmes for beneficiaries, and preserved a stabLe financial position to underpin future endeavours. Public Benefit Statement The trustees aff irm that Lighthouse Global Network has met the requirements set out in applicable Charity legislation. with 8118Ctivities providing demonstrable public benelit and serving the oiganisation's charitsble objectives. Achievements and Performance Forth8 period ended 31 M8y2025, Lighthouse Global Network maintained a consistent level of service delivery. mirroring results from the previou$ financialyear. 3. Financial Review FinanciaL Position Summary OveralL Financial Position The charity's income for the y8arlotaled £75,753.84 primarily from donations. Total èxpenditurè forthe ye8r amounted to £78,062.65, resulting in 8 net deficitof £2,308.81 forthe period. Funds carried forward atthe end ofthefinancialyearwere £100.168.34. reflecting the org8nization's financial position after accounting for income and xpenses.

This table provides 8 detalled breakdown of income and expendlturefortheye8r ended M8y31, 2025, offeringa clearcomparisonto the previous year. It highlightsthe sources of income. total amounts, and the netfinancial position 8tye8r-end. Ineome and Expandlturo 2025 (£) 2024 (£) Donations 3,868.27 67.026.01 Sales 890.00 1.959.96 Rental Received 4.325.00 Building Funds 6.670.57 0.00 Investment 0.00 1.648.00 lft Alds 0.00 5.791.29 Interest 0.00 91.63 otal Income 75.753.84 76,516.89 otal Expendituro 78,062.65 103,098.70 Net Income I (Deficit) 12.308.81) 126,581.81) Funds Brought Forward 102.477.15 129,058.96 Funds Carried Forward 100.168.34 102,4T7.15 otal funds carrled forward 100,168.34

  1. Balance Sheet as at 31 May 2025 Balance Sheet Itoms 2025 {£} 2024 (£ Reststed Notes Fixed Assets- Freehold propety (At Cost) 375,000 375,000 Depreciation (11,100} 15,500) 2&3 Net BookV81ue INBVI 363,900 369.500 Cash at bank and in hand 1,339.42 4,092.38 Creditors." amounts falling due within oney•ar 127,064.581 (27,064.58) Net Current Assets (Llablllties) 338,174.84 346,527.80 Creditors: amounts fallingdue after one year 1206.260.26) (233,324.84) Total Not Assets {Liabilities) 131.914.58 113.202.96 Reserves 131.914.58 113,202.96 Notes 1 Financlal figures for the year ended 31 May 2025 are identical to those of 2024. as per verified data from Lighthouse Global Network. 2 Fixed assets reflect the value of f reehold properties, recorded at historical cost. Th8 assumption is th8tthe average value ofthe Land element is £100.000 based onthe aver8ge land value in the postcode are8. 3 Depreciation is over 50 years 4 Prior year adjustments were made to depreciation 8nd error in the balance she8t.

5 Cash at bank and In hand indicates liquid funds available to charity at year end. 6 Reservès represent net assets available to support the charity's ongoing and future operations. 5. Risk Management The trustees rèm8in aware of the risks the charity faces and continue to take measures to minimisethese risks throughoutoperations. Regular reviews ofthe charitys risk register are conducted to Identify potential threat8 and implement appropriate control measures. This proactive approach ensures that both financial and operational ri8ks are effectively managed, safeguarding the charlty's assets and reputation. 6. Reserve Policy The trustees of Lighthouse Global Network recognlsethelr dutyto m8int8in an appropriate level of financial reserves in 8ccordance with Charity Commission guidance, which defin&s reseives as the portion of a charily's unrestrieted funds that are freely avaliable lorthe furtherance of Its Qharltable purposes. This excludes restricted funds, endowmentfunds, designated funds. and tsngible fixed assets held for the charity's ongoing use. In line with this definition, the charty's unrestricted reserves have been assessed by adjusting the total unrestrlcted funds to exclude fixed assets and other non-liquid balances. Tangible fixed assets. such as the ch8rty's freehold property. cannot be treated a8 available reserves because they are essential for delivering se￿ie6S and cannot be resdily converted to cash Free Reserves- Total Reserves- Net Book Value of Fixed Assets = £131.914.58- £363.900= -£231,985.42 2024125 Amount (£) Reserves -£231.985.42 This calculation shows that the charity does not currently hold positive free reserves. The majority of its ass8ts are tied up in property, with limited liquid funds available tor contingencles. The trustees note that the ch8rity'$ b818n¢e sheet reflects substantial investment in essential property used for charitable activlties, while cash levels remain low. Although this results in negative free reserves, the trustees conslder the org8nis8tion to b8 tinancially stable due to: Consistent donor support and incomegeneration Secure operational premises

Effective management of liabilities and creditor obligations The charity continues to meet its obligations and deliver its services without interruption. The twstees aim to build a mlnlmum posltlve free roserve targot of throe months of core op•ratlng exp•ndltur•, to provide resilience against unexpected events 8nd 8hort-term income fluctuations. This approach reflects Charity Commission expectations that charities should set a reserves level tailored to their operational risks and fLrture plans Based on current expenditure leveis1£78,062.65 perannum), three months, operating costs equate approximatèly: Target ReseNes- £78,062.65x 3112- £19,515.66 The trustees plan to strengthen reserves over the comingyears by: Increasing regular givlng and encouraongpledged donations Allocating surplus88 from future operalion81 periods Reviewing operating costs to improve efficiency Exploring grant opportunities that support core costs Progress towards the target levelwill bo reviewed annuallyas part ofthe budgetand fln8ncial planning process. While free reserves are currently in d8ficit, the trustees ar8 satlsfied that the charity remains a going concern and ¢ontinue8to operate responsiblywithin its m88ns. The reserves policy will be reviewed each year to ensure it rem8ins 8ppropriate for the ¢harity'8 needs, financial risks, and strate￿¢ objectives. 7. Statement of Trustees, Responsibilities Undgrthe Charities Act 1993, tru8tee8 are requiredto prepare accounts that provide 8 true and fair view of the charity's financial affairs. Their responsibilities include: S81ecting suitable 8¢counting policies and applying them consistently. Making reasonable and prudentjudgments and estimates. Complyingwith 8pplicable accounting standards and recommended pr8Ctiee. Preparing accounts on a going-concern basis unless it is inappropriate to do so. In addition, the trustees are responslble for m8lntainlng adequate accountlng records that accurately r8flect the charity's financial position.

  1. Trustee Approval Signed on behalf of the Trustges: Mrs. Enlolu (Chair and signatory) Date: 3110312025

Lighthouse Global Network Charity Accounts and Trustees, Report for the Period Ended 31 May 2025 Financial statement prepared in accordance with Charities Act (England & Wales) 31 MAY 2025 Lighthouse Global Network The Llghlhouse, Station Road. M8idstone, ME14 1QJ

Table of Contents 1 L•gal and Admlnlslratlvo Information................................................................................ 2Trust8es' Annu81 Report................................,..............,,..............,....,,..........,........ 3 Financial Review.......................................................................................................... 4 Balance Sheetas at 31" May2025...................................................................................... S Rl8kMan8gement............................................................................................................ 6 Reserve Polity.......-....-................................................................................................. 7 Statement of Trustees. Responslbllitias

  1. Legal and Administrative Information Charlty Name Lighthous8 Global Ngtwork Charity Registratlon Number 1163804 ReO$lered Offl¢o The Lighthouse. Station Road. Maidstone. ME14 1QJ Op•rationalAddrg88 The Lighthous8, Station Road, Maidstone. ME14 1QJ Trusleos duringtho Mr Oluwasegun Julius Eniolu, Mr8 Mary Eniolu {Chair8nd perlod signatory), Mrs Martha Akhere Okojie, MrAbimbola Okubule Bankers Barclays Bank Indopendont Ex8minerlAuditor MJB AVANTI TAX ACCOUNTANTS
  2. Trustees, Annual Report Objectives and Activities Lighthouse Global Network is dedicated to supporting charitable initiatives. alleviatlng poverty. and fostering ¢ommunity d8vèlopmentthrough grant making. outreach actniities, and the provlslon of essential services. Duringthe perrod under revlew. the organisation continued to deliveremergency relief. mentoring programmes, and to strengthen its core charitable activities. To advance the Chrlstian faith through preachlngthe Gospel in the UK and globally. with the aim of liberating minds, tr8nsforming lives. and helping people fulfill their dreams. To reli8ve persons in need or hardship and to support Christian activities and organizations eng8ged in worship. teaching, and care forthe needy. To advance education based on Christian principles, including through the establishment ofschools. To support other charitable purposes as deemed necessary bythe trustees.

Review of Activities Community Support: Weekly soup kitchen Serving homeless members of the Maidstone community. offering hot me815 and companionship. Women's Support Group. A continuing women's group supportingwomen of all ages in m8tters such as parenting. loneliness, personal and prots88ional development. Hybrid format maintainod afterthe pandemic. allowing participation from locations as faras Baib8do8. Slngies SemlnarA seminarforsingie adults aimed at community building. sharing experiences. and providinEempowerinEteaching. Falth and Worship: Delivery of in-person and online services, prayer meetings. and supportgroups for both members and the wider community. The organisation sustained its Operational resilience. ensuring continued access to its programmes for beneficiaries, and preserved a stabLe financial position to underpin future endeavours. Public Benefit Statement The trustees aff irm that Lighthouse Global Network has met the requirements set out in applicable Charity legislation. with 8118Ctivities providing demonstrable public benelit and serving the oiganisation's charitsble objectives. Achievements and Performance Forth8 period ended 31 M8y2025, Lighthouse Global Network maintained a consistent level of service delivery. mirroring results from the previou$ financialyear. 3. Financial Review FinanciaL Position Summary OveralL Financial Position The charity's income for the y8arlotaled £75,753.84 primarily from donations. Total èxpenditurè forthe ye8r amounted to £78,062.65, resulting in 8 net deficitof £2,308.81 forthe period. Funds carried forward atthe end ofthefinancialyearwere £100.168.34. reflecting the org8nization's financial position after accounting for income and xpenses.

This table provides 8 detalled breakdown of income and expendlturefortheye8r ended M8y31, 2025, offeringa clearcomparisonto the previous year. It highlightsthe sources of income. total amounts, and the netfinancial position 8tye8r-end. Ineome and Expandlturo 2025 (£) 2024 (£) Donations 3,868.27 67.026.01 Sales 890.00 1.959.96 Rental Received 4.325.00 Building Funds 6.670.57 0.00 Investment 0.00 1.648.00 lft Alds 0.00 5.791.29 Interest 0.00 91.63 otal Income 75.753.84 76,516.89 otal Expendituro 78,062.65 103,098.70 Net Income I (Deficit) 12.308.81) 126,581.81) Funds Brought Forward 102.477.15 129,058.96 Funds Carried Forward 100.168.34 102,4T7.15 otal funds carrled forward 100,168.34

  1. Balance Sheet as at 31 May 2025 Balance Sheet Itoms 2025 {£} 2024 (£ Reststed Notes Fixed Assets- Freehold propety (At Cost) 375,000 375,000 Depreciation (11,100} 15,500) 2&3 Net BookV81ue INBVI 363,900 369.500 Cash at bank and in hand 1,339.42 4,092.38 Creditors." amounts falling due within oney•ar 127,064.581 (27,064.58) Net Current Assets (Llablllties) 338,174.84 346,527.80 Creditors: amounts fallingdue after one year 1206.260.26) (233,324.84) Total Not Assets {Liabilities) 131.914.58 113.202.96 Reserves 131.914.58 113,202.96 Notes 1 Financlal figures for the year ended 31 May 2025 are identical to those of 2024. as per verified data from Lighthouse Global Network. 2 Fixed assets reflect the value of f reehold properties, recorded at historical cost. Th8 assumption is th8tthe average value ofthe Land element is £100.000 based onthe aver8ge land value in the postcode are8. 3 Depreciation is over 50 years 4 Prior year adjustments were made to depreciation 8nd error in the balance she8t.

5 Cash at bank and In hand indicates liquid funds available to charity at year end. 6 Reservès represent net assets available to support the charity's ongoing and future operations. 5. Risk Management The trustees rèm8in aware of the risks the charity faces and continue to take measures to minimisethese risks throughoutoperations. Regular reviews ofthe charitys risk register are conducted to Identify potential threat8 and implement appropriate control measures. This proactive approach ensures that both financial and operational ri8ks are effectively managed, safeguarding the charlty's assets and reputation. 6. Reserve Policy The trustees of Lighthouse Global Network recognlsethelr dutyto m8int8in an appropriate level of financial reserves in 8ccordance with Charity Commission guidance, which defin&s reseives as the portion of a charily's unrestrieted funds that are freely avaliable lorthe furtherance of Its Qharltable purposes. This excludes restricted funds, endowmentfunds, designated funds. and tsngible fixed assets held for the charity's ongoing use. In line with this definition, the charty's unrestricted reserves have been assessed by adjusting the total unrestrlcted funds to exclude fixed assets and other non-liquid balances. Tangible fixed assets. such as the ch8rty's freehold property. cannot be treated a8 available reserves because they are essential for delivering se￿ie6S and cannot be resdily converted to cash Free Reserves- Total Reserves- Net Book Value of Fixed Assets = £131.914.58- £363.900= -£231,985.42 2024125 Amount (£) Reserves -£231.985.42 This calculation shows that the charity does not currently hold positive free reserves. The majority of its ass8ts are tied up in property, with limited liquid funds available tor contingencles. The trustees note that the ch8rity'$ b818n¢e sheet reflects substantial investment in essential property used for charitable activlties, while cash levels remain low. Although this results in negative free reserves, the trustees conslder the org8nis8tion to b8 tinancially stable due to: Consistent donor support and incomegeneration Secure operational premises

Effective management of liabilities and creditor obligations The charity continues to meet its obligations and deliver its services without interruption. The twstees aim to build a mlnlmum posltlve free roserve targot of throe months of core op•ratlng exp•ndltur•, to provide resilience against unexpected events 8nd 8hort-term income fluctuations. This approach reflects Charity Commission expectations that charities should set a reserves level tailored to their operational risks and fLrture plans Based on current expenditure leveis1£78,062.65 perannum), three months, operating costs equate approximatèly: Target ReseNes- £78,062.65x 3112- £19,515.66 The trustees plan to strengthen reserves over the comingyears by: Increasing regular givlng and encouraongpledged donations Allocating surplus88 from future operalion81 periods Reviewing operating costs to improve efficiency Exploring grant opportunities that support core costs Progress towards the target levelwill bo reviewed annuallyas part ofthe budgetand fln8ncial planning process. While free reserves are currently in d8ficit, the trustees ar8 satlsfied that the charity remains a going concern and ¢ontinue8to operate responsiblywithin its m88ns. The reserves policy will be reviewed each year to ensure it rem8ins 8ppropriate for the ¢harity'8 needs, financial risks, and strate￿¢ objectives. 7. Statement of Trustees, Responsibilities Undgrthe Charities Act 1993, tru8tee8 are requiredto prepare accounts that provide 8 true and fair view of the charity's financial affairs. Their responsibilities include: S81ecting suitable 8¢counting policies and applying them consistently. Making reasonable and prudentjudgments and estimates. Complyingwith 8pplicable accounting standards and recommended pr8Ctiee. Preparing accounts on a going-concern basis unless it is inappropriate to do so. In addition, the trustees are responslble for m8lntainlng adequate accountlng records that accurately r8flect the charity's financial position.

  1. Trustee Approval Signed on behalf of the Trustges: Mrs. Enlolu (Chair and signatory) Date: 3110312025

INDEPENDENT EXAMINER’S REPORT TO

THE TRUSTEES OF LIGHTHOUSE GLOBAL NETWORK

I report to the trustees on my examination of the accounts of the Lighthouse Global Network for the year ended 31 May 2025.

Responsibilities and basis of report

As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Trust’s accounts carried out under s. 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under s. 145(5)(b) of the Act.

Independent examiner’s statement

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

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 to enable a proper understanding of the accounts to be reached.

Signed:

Name: Olumide Abikoye

Relevant Professional qualification or body: FCCA ( Fellow of the Association of Chartered Certified Accountants).

Suite FA7, The Old Library, St. Faith Street. Maidstone. ME14 1LH

Tel: 01622 392203

Email: enquiries@avantigroup.uk.com Web: www.avantigroup.uk.com

MJB AVANTI TAX ACCOUNTANTS is regulated by the Association of Accounting Technicians in England and Wales Licence No: 1004940

Address: Suite FA7, The Old Library, St Faith Street, Maidstone, ME14 1LH

Date: 31/03/2026

V12.2020 - Page 2 of 2