2023-07-31-accounts

REGISTERED CHARITY NUMBER: 1179496

THE LIGHTBEAM ACADEMY

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

THE LIGHTBEAM ACADEMY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

		Page
Reference and Administrative Details		1
Report of the Trustees	2	to 3
Independent Examiner's Report		4
Statement of Financial Activities		5
Statement of Financial Position		6
Notes to the Financial Statements	7	to 12
Detailed Statement of Financial Activities	13	to 14

THE LIGHTBEAM ACADEMY

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2023

Trustees	Faiza Akram
	Asha Khalique
	Nisar Raja (resigned 10.11.23)
	Kamran Chaudhary (appointed 10.11.23)
	Javed Chaudhary (appointed 10.11.23)
Principal address	The Bestlight Community Hub
	9 Market Square
	Nelson
	Lancashire
	BB9 7LP
Registered charity number	1179496
Independent examiner	Riley Moss 2018 Limited
	Citygate
	Longridge Road
	Preston
	Lancashire
	PR2 5BQ

Page 1

THE LIGHTBEAM ACADEMY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

The trustees present their report with the financial statements of the charity for the year ended 31 July 2022. The trustees have adopted the provisions of 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).

Charitable objectives

To provide educational, health and sports development initiatives for the public benefit, serving the communities of Pendle and East Lancashire. To provide a well-being and spiritual centre for the public benefit, serving the communities of Pendle and East Lancashire

Review of Activities and Achievements

From the period 1st August 2022 - 31st July 2023, LightBeam Academy has seen continued growth and student numbers continue to grow - from the courses offered, to the number of children supported. Operating from our new Community Hub at Market Square, Nelson, the Academy has offered a number courses and activities over the past 12 months.

Overview of the Year

Primary Education (Ages 5-11)

The Academy enrolled 28 children onto the 2022-23 Academic programme. Classes take place 6 days a week from Mondays to Saturdays with students attending 3-times a week. The focus remains on character development through a faith-based perspective. Students develop language skills as well as understanding the importance of good character. Admissions for the next Academic term have already begun and the demand for the Primary intake continues to grow strongly.

Secondary Education (Ages 11-16)

The Academy offers a 5-year Secondary education to children on the Weekends. Classes take place once a week for 2 hours and children learn a range of topics designed to instil independent reasoning and critical thinking. The course develops an understanding of civic responsibility and encourages students to take part in discussions on topics affecting them at every level.

Reception Programme (Ages 4/5)

The play-based reception programme for children aged 4-5 continues to be a success. In 2022-23, the programme saw an increase in numbers and led to the development of three classes running consecutively on Sunday mornings. In total, 32 children registered on the Reception programme. Sessions are engaging, fun and creative, ensuring children learn through play.

Fitness, Health and Wellbeing (All ages)

The Academy continues to deliver a number of projects aimed at enhancing resilience, wellbeing and healthy lifestyles. Sessions included Archery, Olympic Freestyle Wrestling, Gymnastics, Brazilian Jiu-Jitsu, Yoga and fitness sessions.

Our Partners

We have developed strong links with local partners who use the Community Hub to deliver their services as well as commission the Academy to deliver projects on their behalf. These include Pendle Borough Council, Nature Warriors, Solidarity Sports, Encore Dance, Active Lancashire and Lancashire Adult Learning.

Page 2

THE LIGHTBEAM ACADEMY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2023

Gratitude

We would like to express our sincere gratitude to the following for their support in developing the Hub: Tudor Trust, Magic Grants, HUBBUB Foundation, ASDA Foundation, Workers' Educational Association, Lancashire BME Pact and Pendle Borough Council.

Financial review

It is the policy of the charity to maintain unrestricted funds at a level which equate to approximately 3 months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs.

Looking ahead

LightBeam Academy continues to expand and reach new audiences. Since the inception of the Academy in 2017, the Academy has continued to grow and attract more people. In the year 2022-23, 2900 people attended The BestLight Community Hub for a range of support services which include English and Maths for Adults, Health and Wellbeing, Archery and Sports and a range of community and cultural events.

The number of staff and volunteers has increased and The Academy continues to invest in its infrastructure as sustainability is one of the key goals of the organisation. New services are bringing more people together and more organisations are operating from the Hub, delivering to diverse audiences.

Our focus over the next year is to continue to bring more services and projects to the Hub. This includes developing our sports and fitness provision, supporting people in the cost of living crisis and attracting more organisations to deliver from the Hub.

In summary, it's an exciting time at the Academy and we hope to continue and consolidate the progress made as we enter our 7th year with the hope of realising the goal of the Academy - to nurture, strengthen and nourish the hearts and minds of the people we serve.

Structure, governance and management Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Approved by order of the board of trustees on 13 May 2024 and signed on its behalf by:

Faiza Akram - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LIGHTBEAM ACADEMY

Independent examiner's report to the trustees of The Lightbeam Academy

I report to the charity trustees on my examination of the accounts of The Lightbeam Academy (the Trust) for the year ended 31 July 2023.

Responsibilities and basis of report

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

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

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

1. accounting records were not kept in respect of the Trust as required by Section 130 of the 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.

Farook Patel FCA

Riley Moss 2018 Limited Citygate Longridge Road Preston Lancashire PR2 5BQ

16 May 2024

Page 4

THE LIGHTBEAM ACADEMY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023
Notes Income and endowments from Donations and legacies Charitable activities 4 Charitable activities Other trading activities 2 Investment income 3 Total Expenditure on Raising funds Charitable activities 5 Charitable activities Total NET INCOME/(EXPENDITURE) Reconciliation of funds Total funds brought forward Total funds carried forward	Unrestricted fund £ 23,608 87,080 20,645 - 131,333 20,228 118,410 138,638 (7,305) 40,688 33,383	Restricted fund £ 63,421 102,409 - 16,111 181,941 - 81,145 81,145 100,796 241,591 342,387	2023 Total funds £ 87,029 189,489 20,645 16,111 313,274 20,228 199,555 219,783 93,491 282,279 375,770	2022 Total funds £ 139,643 92,832 16,685 10,766
				259,926
				11,201 132,120
				143,321
				116,605 165,674
				282,279

The notes form part of these financial statements

Page 5

THE LIGHTBEAM ACADEMY

STATEMENT OF FINANCIAL POSITION 31 JULY 2023

Notes Fixed assets Tangible assets 10 Current assets Stocks 11 Cash at bank and in hand Creditors Amounts falling due within one year 12 Net current assets Total assets less current liabilities NET ASSETS Funds 13 Unrestricted funds Restricted funds Total funds	Unrestricted fund £ 2,228 1,925 31,031 32,956 (1,801) 31,155 33,383 33,383	Restricted fund £ 249,070 - 114,527 114,527 (21,210) 93,317 342,387 342,387	2023 Total funds £ 251,298 1,925 145,558 147,483 (23,011) 124,472 375,770 375,770 33,383 342,387 375,770	2022 Total funds £ 247,653 5,000 62,636 67,636 (33,010) 34,626 282,279 282,279 40,688 241,591 282,279

The financial statements were approved by the Board of Trustees and authorised for issue on 13 May 2024 and were signed on its behalf by:

Faiza Akram - Trustee

Asha Khalique - Trustee

The notes form part of these financial statements

Page 6

THE LIGHTBEAM ACADEMY

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

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.

Going concern

Trustees consider that the charitable company has sufficient resources and there are no material uncertainties about the charity's ability to continue. Accordingly, trustees continue to adopt the going concern basis in preparing the financial statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Fixtures & Fittings

25% Straight Line Method

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 7

continued...

THE LIGHTBEAM ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

1. Accounting policies - continued

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets held at amortised cost comprise cash and bank in hand. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes.

2. Other trading activities

Shop income 3. Investment income Rents received 4. Income from charitable activities Activity Tuition Fee income Charitable activities Grants Charitable activities Grants received, included in the above, are as follows: Tudor Trust Magic Grants HUBBUB Foundation UK ASDA Foundation HAF Pendle BC Garfield Weston Foundation Workers' Educational Association Lancashire BAME Pact Active Lancashire Ltd Skelton Charity HMRC JRS Grant Pendle Council Covid Support Grant Jeremy Alexander Settlement CCG CVS John Laing Foundation Sporting Equals Canal & River Trust CrowdFunder Appeal DCE Peel Trust Harold & Alice Bridges Charity		2023 £ 20,645 2023 £ 16,111 2023 £ 87,080 102,409 189,489 2023 £ 42,979 500 3,000 500 13,650 15,000 17,880 900 5,000 2,000 - - - - - - - - - 1,000 102,409		2022 £ 16,685
				2022 £ 10,766
				2022 £ 62,346 30,486
				92,832
				2022 £ - - - - 4,500 - - - - - 656 850 2,000 5,000 1,000 2,000 4,480 5,000 5,000 -
				30,486

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continued...

THE LIGHTBEAM ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

5. Charitable activities costs

Charitable activities 6. Direct costs of charitable activities Staff costs Classroom activities Auction costs Donations paid 7. Support costs Charitable activities	Direct Support Costs (see costs (see note 6) note 7) £ £ 124,056 75,499 2023 £ 94,301 23,395 - 6,360 124,056 Governance Management costs £ £ 74,533 966	Totals £ 199,555
		2022 £ 49,640 25,058 14,845 -
		89,543
		Totals £ 75,499

8. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022.

9. Staff costs

The average monthly number of employees during the year was as follows:

Teaching and admin staff No employees received emoluments in excess of £60,000.	2023 19	2022 10

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continued...

THE LIGHTBEAM ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

10. Tangible fixed assets Cost At 1 August 2022 Additions At 31 July 2023 Depreciation At 1 August 2022 Charge for year At 31 July 2023 Net book value At 31 July 2023 At 31 July 2022 11. Stocks Stocks 12. Creditors: amounts falling due within one year Trade creditors Other creditors 13. Movement in funds Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS	Freehold property £ 245,425 - 245,425 - - - 245,425 245,425 At 1.8.22 £ 40,688 241,591 282,279	Computer equipment £ 4,456 6,345 10,801 2,228 2,700 4,928 5,873 2,228 2023 £ 1,925 2023 £ 1,801 21,210 23,011 Net movement in funds £ (7,305) 100,796 93,491		Totals £ 249,881 6,345	Totals £ 249,881 6,345
				256,226
				2,228 2,700
				4,928
				251,298
				247,653
					2022 £ 5,000
					2022 £ 1,800 31,210
					33,010
				At 31.7.23 £ 33,383 342,387
				375,770

Page 10

continued...

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

THE LIGHTBEAM ACADEMY

13. Movement in funds - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS	At 1.8.21 £ 34,929 130,745 165,674	Incoming resources £ 131,333 181,941 313,274 Net movement in funds £ 46,843 69,762 116,605	Resources expended £ (138,638) (81,145) (219,783) Transfers between funds £ (41,084) 41,084 -	Movement in funds £ (7,305) 100,796 93,491 At 31.7.22 £ 40,688 241,591 282,279

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS	Incoming resources £ 134,258 125,668 259,926	Resources expended £ (87,415) (55,906) (143,321)	Movement in funds £ 46,843 69,762 116,605

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continued...

THE LIGHTBEAM ACADEMY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2023

14. Related party disclosures

There were no related party transactions for the year ended 31 July 2023.

15. Restricted fund

This fund represents amounts held in order to repay loans (Karze Hasna) provided for the purchase of the building at Market Square, Nelson, that is to be the hub of the charity's activities.

During the year Charity received below restricted grants for various projects.

Trust /Organisation Project Bal B/F Tudor Trust CDM & Finance Offier - Magic Grants Winter Holidays Rent - HUBBUB Foundation UK Community Fridge - ASDA Foundation Core Funding - HAF Pendle BC HAF - Winter 2022 - HAF Pendle BC HAF - Easter 2023 - HAF Pendle BC HAF - Summer 2023 - Garfield Weston Foundation Core Funding - Workers' Educational Association Numeracy support - Lancashire BAME Pact Core Funding - Active Lancashire Ltd Archery/Boxing - Skelton Charity CCTV - Harold & Alice Bridges Charity Intercom+CCTV - Total	Income £42,979 £500 £3,000 £500 £3,780 £4,200 £5,670 £15,000 £17,880 £900 £5,000 £2,000 £1,000 £102,409	Spent £32,234 £500 £1,500 £500 £3,780 £4,200 £3,360 £8,750 £17,880 £900 £2,500 £2,000 £1,000 £79,104	Bal C/F £10,745 - £1,500 - - - £2,310 £6,250 - - £2,500 - - £23,305

Page 12

THE LIGHTBEAM ACADEMY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023

Income and endowments Donations and legacies Donations Gift aid Other trading activities Shop income Investment income Rents received Charitable activities Tuition Fee income Grants Total incoming resources Expenditure Other trading activities Opening stock Purchases Closing stock Charitable activities Wages Classroom activities Auction costs Donations paid Support costs Management Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Carried forward	2023 £ 73,970 13,059 87,029 20,645 16,111 87,080 102,409 189,489 313,274 5,000 17,153 (1,925) 20,228 94,301 23,395 - 6,360 124,056 2,750 1,253 48,705 1,463 100 498 1,759 56,528	2022 £ 125,297 14,346 139,643 16,685 10,766 62,346 30,486 92,832 259,926 4,500 11,701 (5,000) 11,201 49,640 25,058 14,845 - 89,543 1,841 699 25,019 368 - 1,826 3,780 33,533

This page does not form part of the statutory financial statements

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THE LIGHTBEAM ACADEMY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023
Management Brought forward Volunteer expenses Repairs and maintenance Staff training IT and computer costs Cleaning Professional fees Computer equipment Governance costs Legal fees Accountancy fees Total resources expended Net income	2023 £ 56,528 795 3,633 1,106 2,133 2,938 4,700 2,700 74,533 - 966 966 219,783 93,491	2022 £ 33,533 - 6,775 - - - - 1,114
		41,422 219 936
		1,155
		143,321
		116,605

This page does not form part of the statutory financial statements

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