**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|
Page 8
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|
|---|---|---|
||||
Page 9
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|
|---|---|---|---|
Page 11
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
Page 13
**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
Page 14