**Charity number: 1171102**
## **LIGHT LONDON**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2023**
## **LIGHT LONDON**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 3|
|**Independent Examiner's Report**|4 - 5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8 - 14|
**LIGHT LONDON**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023**
**Trustees** Dr Sharon Stone Sandra Bryant Greg Black Nicola Obianuju Ufomadu David Oluwatobilola Arayomi **Charity registered number** 1171102 **Principal office** 23 Green Lanes Epsom KT19 9TW **Bankers** Barclays Bank Plc
Page 1
## **LIGHT LONDON**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
The Trustees present their annual report together with the financial statements of the Light London for the year 1 April 2022 to 31 March 2023.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
The following activities summarized below took place during the financial period starting from 1st April 2022 to the 31st March 2023.
## **Objectives and activities**
As a Church we have continued to thrive and grow as a community. We are still registering everyone that comes to our service and have seen a rise in attendees to around 300 attendees, the lowest being 250. We have many visitors coming from the States and other countries to visit our Church and there is a real buzz about what God is doing in our midst.
I am so pleased to say that the Children’s Ministry moved from being online to in person again once we moved to in person meeting. This ministry has been such a blessing to the community. We held our sixth anniversary in March and celebrated in style, happy to have made it for another year when many Churches did not. We also held our first Friday Fires since December 2019 on 2 December at Glory House. It was a great success with over 450 people in attendance. We now plan to hold one every year.
As a Church we have been going out to meet the people of the area we serve and have worked to bring the ministry out to the people of Stratford and have seen many good results, as we have seen those that have been ministered to, attend our Church.
Our ultimate goal is to have our own building, so we are in the process of raising funds for it.
## **Finance**
During the financial year, Light London income was generated predominantly from donations, the total income generated was £676,240 (2022: £374,543), which represents a 81% increase from the previous year, whilst expenditure including fixed asset investment write off was £706,415 (2022: £348,908) an increase of 102%.
The Trustees therefore feel it is important to establish a prudent reserves policy of between three months and six months expenditure to be covered by free reserves. On 31 Mar 2023 the charity's unrestricted reserves, (not represented by fixed assets) stood at £83,346 (2022: £187,527) which covers 1.5 months (2022: 6 months) of expenditure. This is less than our target of 3 to 6 months reserves, the trustees are working to mitigate the financial risks that the church might be exposed to, through a detailed budgeting and financial planning process.
## **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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
.
Page 2
**LIGHT LONDON**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **Structure, governance and management**
## **a. Constitution**
Light London is a registered charity, number 1171102, and is constituted under a Trust deed.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **c. Related party relationships**
Trustee Sharon Stone is also a trustee of the Prophetic Voice Charity. During the financial year Prophetic Voice Charity received ministry grant of £3,838 (2022: £7,000).
## **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 year 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
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.
This Annual Report was written on behalf of the trustees of the charity on 30 May 2023 and approved by order of the members of the board of Trustees on 31 August 2023 and signed on their behalf by:
## **Sandra Bryant**
_Samdr Bryant_
Page 3
**LIGHT LONDON**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023**
## **Independent Examiner's Report to the Trustees of Light London ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 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**
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Chartered Institute of Management Accountants UK, which is one of the listed bodies.
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Page 4
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LIGHT LONDON
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## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
Signed:
Dated:
## **Kolade Andrew Alli ACMA**
10 Gatcombe Gardens West End Hampshire SO18 3NA
Page 5
## **LIGHT LONDON**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
|**Note**
**Income from:**
Donations and legacies
2
**Total income**
**Expenditure on:**
Charitable activities
3
**Total expenditure**
**Net (expenditure)/income**
Transfers between funds
9
**Net movement in funds before other**
**recognised gains/(losses)**
**Other recognised gains/(losses):**
Other losses
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2023**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**11,686**
**-**
**11,686**|**Unrestricted**
**funds**
**2023**
**£**
**676,240**
**676,240**
**681,415**
**681,415**
**(5,175)**
**-**
**(5,175)**
**(25,000)**
**(30,175)**
**205,521**
**(30,175)**
**175,346**|**Total**
**funds**
**2023**
**£**
**676,240**
**676,240**
**681,415**
**681,415**
**(5,175)**
**-**
**(5,175)**
**(25,000)**
**(30,175)**
**217,207**
**(30,175)**
**187,032**|_Total_
_funds_
_2022_
_£_
_374,543_
_374,543_
_348,908_
_348,908_
_25,635_
_(4,997)_
_20,638_
_-_
_20,638_
_196,569_
_20,638_
_217,207_|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 14 form part of these financial statements.
Page 6
## **LIGHT LONDON**
## **BALANCE SHEET AS AT 31 MARCH 2023**
|**Fixed assets**
**Note**
Investments
6
**Current assets**
Debtors
7
Cash at bank and in hand
Creditors: amounts falling due within one
year
8
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
9
Unrestricted funds
9
**Total funds**|**94,000**
**95,032**
**189,032**
**(2,000)**|**2023**
**£**
**-**
**-**
**187,032**
**187,032**
**187,032**
**187,032**
**11,686**
**175,346**
**187,032**|_-_
_199,207_
_199,207_
_(2,000)_|_2022_
_£_
_20,000_
_20,000_
_197,207_
_217,207_
_217,207_
_217,207_
_11,686_
_205,521_
_217,207_|
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees on 31 August 2023 and signed on their behalf by:
## **Sandra Bryant**
_Samdr bryant_
The notes on pages 8 to 14 form part of these financial statements.
Page 7
**LIGHT LONDON**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. Accounting policies**
## **1.1 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.
Light London 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.
## **1.2 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.
## **1.3 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 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.
## **1.4 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
Investments held as fixed assets are shown at cost less provision for impairment.
Page 8
**LIGHT LONDON**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. Accounting policies (continued)**
## **1.5 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.
## **1.6 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.
## **1.7 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.
## **1.8 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.
Page 9
**LIGHT LONDON**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|**2. Income from charitable activities**||||
|---|---|---|---|
||**Restricted**|**Unrestricted**
**funds**
**Total**|**Total**|
||**funds**|**General**
**2023**|**2022**|
||**£**|**£**
**£**|**£**|
|Building Fund|0|0
0|6|
|Donations|0|545,200
545,200|
206,952|
|Events Income|0|8,406
8,406|8,983|
|Gift Aid tax reclaimed|0|68,927
68,927|68,345|
|Other Income|0|53,707
53,707|90,257|
|||||
||0|676,240
676,240|374,543|
Page 10
**LIGHT LONDON**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **3. Expenditure on charitable activities**
||**3. Expenditure on charitable**
**activities**||||
|---|---|---|---|---|
|||**Restricted**|**Unrestricted**
**funds**|**Total**
**Total**|
|||**funds**|**General**|**2023**
**2022**|
|||**£**|**£**|**£**
**£**|
||Accountancy fees|0|1,123|1,123
576|
||Advertising and Promotion Costs|0|1,007|1,007
432|
||Assistance to members in need|0|27,780|27,780
29,390|
||Bank charges|0|997|997
675|
||Computers, IT Software and,
Consumables|0|8,934|8,934
1,255|
||Consultancy costs|0|109,474|109,474
54,605|
||Event Costs|0|32,085|32,085
6,334|
||Honorarium|0|47,912|47,912
12,700|
||Hospitality|0|2,834|2,834
86|
||Independent examiner's fee|0|2,000|2,000
2,000|
||Insurance|0|7,938|7,938
1,340|
||Investment costs|0|1,517|1,517
20|
||Legal and professional fees|0|7,298|7,298
5,369|
||Manse cost|0|52,099|52,099
29,659|
||Media ministry costs|0|15,482|15,482
18,687|
||Ministry Costs|0|78,490|78,490
21,141|
||Motor running expenses|0|878|878
2,649|
||Office and general administrative
expenses|0|1,342|1,342
939|
||Other Ministry Expenses|0|167,855|167,855
65,486|
||Payroll Costs|0|17,462|17,462
12,394|
||Premises costs|0|12,656|12,656
1,340|
||Printing, postage and stationery|0|1,791|1,791
112|
||Rent|0|30,145|30,145
38,243|
||Staff training|0|0|0
162|
||Subscriptions|0|6,290|6,290
10,970|
||Sundry expenses|0|735|735
1|
||Telephone|0|1,478|1,478
1,950|
||Travel Expenses|0|3,061|3,061
2,658|
||Wages and salaries|0|40,752|40,752
27,735|
||Investment gain/loss|0|25,000|25,000
0|
||||||
|||0|706,415|706,415
348,908|
Page 11
## **LIGHT LONDON**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **4. Independent examiner's remuneration**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Charity's independent examiner for the independent|||
|examination of the Charity's annual accounts|**2,000**|_2,000_|
## **5. Trustees' remuneration and expenses**
**Sandra Bryant** - During the year ended 31 March 2023, expenses totaling £15,000 were paid directly to Trustee Sandra Bryant (2022 - £nil). This was in relation to work done on behalf of the church.
**Obianuju Ufomadu** - During the year ended 31 March 2023, expenses totaling £4,484 were paid directly to Trustee Obianuju Ufomadu (2022 - £nil). This was in relation to work done on behalf of the church.
**David Arayomi** - During the year ended 31 March 2023, expenses totaling £23,669 were paid directly to Trustee Sharon Stone (2022 - £27,713). This was in relation to work done on behalf of the church.
.
## **6. Debtors**
|**Due within one year**
Other debtors|**2023**
**£**
**94,000**
**94,000**|_2022_
_£_
_-_
_-_|
|---|---|---|
## **7. Creditors: Amounts falling due within one year**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|Accruals and deferred income|**2,000**|_2,000_|
Page 12
**LIGHT LONDON**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **9. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Building Fund
**Total of funds**|**Balance at 1**
**April 2022**
**£**
**205,521**
**11,686**
**217,207**|**Income**
**£**
**676,240**
**-**
**676,240**|**Balance at**
**31 March**
**Expenditure**
**£**
**2023**
**£**
**(706,415)**
**175,346**
**-**
**11,686**
**(706,415)**
**187,032**|
|---|---|---|---|
Page 13
**LIGHT LONDON**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **9. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Building Fund
**Total of funds**|_Balance at_
_1 April 2021_
_£_
_184,889_
_11,680_
_196,569_|_Income_
_£_
_374,537_
_6_
_374,543_|_Expenditure_
_£_
_(348,908)_
_-_
_(348,908)_|_Balance at_
_31 March_
_2022_
_£_
_205,521_
_11,686_
_217,207_|
|---|---|---|---|---|
Page 14