Luminary Limited
Unaudited Trustee's Report and Financial Statements
Year Ended 31 October 2020
*A498WYRT*
22107r1021
COMPANIES HOUSE
A07
#42
Charity registration number". 1181835
Cofflpany registration number." 11651624

Luminary Limited
Unaudiled Trustee's Report and Financial Statements
Year Ended 31 Oclober 2020
Content$
Page
Charity Reference and AdMIn￿trative Details
Trustees, Annual Report
Independent Examinerfs Report
Statement of Financial Aclivits"es (Induding Income and Expenditure Account)
Balance Sheet
10
12
Notes to the Financial Ststement$

Luminary Limited
Charity Reference and Administrative Details
Year Ended 31 October 2020
Charlty reglstratlon number
1181835
Company registration number
11651624
Trustees and directors
S A 8eckwith (deceased 14 February 2021)
J C Challenger (appointed 27 January 20201
K A Gilbert (appointed 27 January 20201
V A Jackson (appointed 27 January 20201
E K Nomian lappoinled 27 January 20201
D C A Robert5 (resigned 29 May 20201
A V Sheppard {appointed 27 January 2020}
E M Simmons
Chlef executlve officer
A E L Wlliarr
Regislered officg
71-73 Allen Road
Stoke Newington
Hackney
London
N16 8RY
Accountants
Bames Roffe LLP
Charles Lake House
Claire Causeway
Crossways Business Park
Darrford
Kent
DA2 6QA
Bankers
Natwesl
Stoke Newinglon {Al
198 Stoke Newinglon H￿h Street
London
N167GA

Luminary Limited
Charity Reference and Administrative Details
Year Ended 31 October 2020
The Trustees present their annual report and the financial statements of the charity for the year ended 31
Octobei 2020. The trustees have adopted the provisions of the Statement of Recommended Practice
ISORPI 2015 'Accounting and Reporting by Charities. in preparing the annual report and financial
statements of the charity.
The financial statements have been prepared in accordance wilh the accounting policies sel out in notes to
the accounts and compty with the charty's goveming document, the Charities Act 2011 and Accounting and
Reporting by Charities.. Slalemenl of Recommended pract￿ applicable to charikn'es preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published
in October 2020.
Trustees of the Charity
The directors of the Charitable company are rts trustees for Ihe purposes of charity law. The trustees who
have served during the year and since the year end were as follows..
S A Beckwith (deceased 14 February 20211
J C Challenger lappoinled 27 January 2020)
K A Gilbert lappointed 27 January 2020)
V A Jackson lappoinled 27 January 2020}
E K Norman (appointed 27 January 2020}
D C A Roberts (resigned 29 May 2020)
A V Sheppard (appointed 27 January 20201
E M Simmons
Objectives and activities
Luminary was started in 2014 and In￿allY incubated under Kahaila Ltd, becoming an independent entity,
Luminary Ltd, on 31 May 2019. This is the second independent report of accounts.
The Objects for which the Charity is established
The ￿lief of women who are in need by reason of their social or economic disadvantage including
hornelessness," or who have experienced or are al risk of experiencing domestic Of other forms of violence,
by the provision of education, training and support including devek)pirig Iheif capabilities. competencies and
skills to be carried out in accordance with Christian values and principles.
Charity pU￿se and strategic objectives
Luminary airns lo equip women with vccational, employability and life skills, employment placements and
lailored one lo one and group support. Based in Hackney & Camden. the Charity provides training and
support programmes to women in London. enabling them to leave lives of poverty and disadvantage behind.
Public benefit ststement
The trustees understand that public benefft reporb.ng is fvndamental to our resFonsibilities in governance of
the charity For Luminary Ltd the public benefit focuses on the women, described in our obiecls. for whom
the charity was established and who contsnue to be central to everything we do.

Luminary Limited
Charity Reference and Administrative Details
Year Ended 31 October 2020
Following referral from one of our partner organisalions. Luminary provides women with a three-part
development progfamme. First, women enrol on a 6 month Employability Training Programme where they
leafn technical baking skills and other Iransfeiable life and employability skills. whilst building relationships
and growing their netsvork. Then women move onlo the second phase. which is a Six month Progression
Support Programme, where there is further face-to-fa￿ training with a focus on employability skills.
Following these two stsges the women graduate from the baking course and employability programme. The
final stage is a further year of one-to-one support with an allocated progression support worker, taking part in
work experience and being able to apply for paid work within the Luminary Bakery business or with our
partner organisatsons.
Our aim for each woman is that she reaches a specified 'lhreshold' of Independence and Employment
outcomes before the end of our full programme. Focussing on the areas of.. Money, Relatsonships, Work,
Housing & Wellbeing, we asslst women lo grow in managing 51tuations independently, and identify where
they need speCial￿t support.
Achievements and performance
11 has been a challenging year for Luminary. with the emergence of the ¢oronavirus pandemic in early 2020.
However, we are proud of how we have reacted to maintsin our focus on the women al the heart of
Luminary and ensure the continued provision of our services.
Oulpvl5'.
79 Training Programme Days in 2020
21 Accreditations Awarded
16 Wellbeing Workshops hosted
9 women engaged in our in-house therapy serv
1-1 Support Meetings covered topics including Housing. Mental Hearth. Health, Debt, COVID-19,
Finance. Employability. Skills Training. Childcare
Of the women we supported in 2020".
960A had experienced gender based vi)lence.
790A had experienced homelessness
34Qkn had been involved in the criminal justice system
15Qkn were care leavers
hile 98% of the women we supported were affected by one of the above, many were affected by more than
one - in fact 74% of wornen experienced at least three forms of disadvantage. Luminary describes this as
'multiple disadvantage,, and this poses significant barriers to work.

Luminary Limited
Trustees, Annual Report
Year Ended 31 October 2020
OLtlcomes'.
Of the women that are actively engaged in the Luminary alumni netsyork, 69% were in employment or further
training within 24 months of completing our programme. Luminary aims to support women to reach a
Threshold of Independence within 24 months of engagement, in 4 key areas, which are intrinsically linked lo
employment outcomes. Women's independence was rwsured around 4 key areas..
80%
On average. women enter Luminary
scoring 41 % aeross all indicators Ibut
some a￿ almost al zero)
60%
40%
Women make progress in all areas.
st sKJnificanlty Housing and Money
20%
On average. women score above
the 70Vo threshold in ALL areas of
independence al the 24 month mark
0%
The in person training progTamme had to
Suspended dunng the
national
lockdowns betsveen March and September
2020, but we successfully pivoted to a
virtual model. with 62 women being
supported through the pandemic with
regular calls from support workers. weekly
online resources, care packages Ihrough Ihe post and online well-being workshops_ Our cohort of trainees
in the bakery phase of our programme were able to conb.nue in a virtual environment, with baking equipment
and ingredients provided to allow weekly on-line tutorials.
Average start score
Average 24 month scorÈ
Threshold of tndependerKe
We have felt the impacl of the pandemic on our referring partners, as the rale of referral to our programme
has been slower than usual, due to many local aulhorib.es having furloughed staff or having to focus on
emergency support rather than longer temi solutions. However. we are confident that this is a short terrn
slow down, and are working with our referring partners to ensure women are able to benefit from our 2021
programme.
Main achievements in period to 31 October 2020
In spite of the challenges in the year. there have been many notable achievements..
We expanded our programme by launching a new Phase 2 to our employability and independence
training scheme. which adds a further six months of Structured group work alongside the one-to-one
sessions. This was developed in response to feedback from past Luminary graduate5.
88¥0 of trainees completed Ihe employability and independence program¢Te. which exceeded our
tafget of 80Qh.
We submitted evidence to the govemmenl's all-parliamentary review of Workplace support for
survivors of domestic abuse. We were in the position lo submit evidence from both employer and
employee perspeclives, wh￿h we hope will infomi wider policy and strategies lo support women
across the country.
We employed a Luminary prc¥Jramme graduate into the role of Teaching Assistant. shaping our
programmes and providing valuable insights into a woman's joumey al Luminary.
We secured funding of £398k, allowing us lo conb'nue our vital work with women and pivot to provide
continued relevant support during the Pandern￿.

Luminary Limited
Trustees, Annual Report
Year Ended 31 October 2020
Oporalions
This has been Luminary's first fvll financial year operab'ng as an independent entity. and hos been an
extremely unusual period due to the impact ol the pandemic_ Luminary was awarded a number of
emergency Covid grants lo help support our beneficiaries with intemet access. emergency 5upplie5 and
resources to engage with our programmes virtually. We were unable to run all programme5 as planned as
many sessions were not possible lo deliver remotely. so we have had an underspend on programme costs
this year, as well as an Unde¥s￿nd on trainee travel costs. In order lo ensure that women we were
supporting during this period still have access to the same quality of 5UPPOrt & opportunity. we will be
delivering certain aspects of the programme they missed (including the mentoring scherne and work
experience) within the next financial year. in addition to all of our scheduled delivery plans for new trainees.
The nature of our work with women experiencing multiple disadvantage means that our staffing costs are our
highest expenditure, to ensure we provide women with dedicated and specialist support workers as well as
excellent quality training and 1-1 support. and that these frontline workers are in turn supported and
managed well to continue providing high quality, traurna4nformed services to women in a sustainable way.
Financial review {including reserves policy)
11 has been a positive financial year for Luminary. Totsl income for the year increased by 95Y• to £4￿,642
{2019'. £208,805) and total expenditure for the year was £273.00812019.' £91.7391. Net income for the year
was £133,634 12019.. £117.[￿). representing a 9% increase. Net income ftom unrestr¢cted funds was
£114.848 {2019.' £23,616) and from restricted funds was £18.786 {2019. £93.4501. There has been a
concerted effort in the year lo generate more unrestricted funds. as these give greater financial autonomy.
allowing us to utIl￿e the funds for opbmal functioning of the charity.
Luminary Limited o￿ned its second sile in Camden in October 2019. which provides training space for 28
women over the course of a week (previously 7 women. based in our Hackney site). Training costs have
increased in line with the additional women benefrtting from the training courses.
Funding comes from a variety of sources. including funds. one-off donations and loans. The most significant
single source of funding is from the National Lottery. who gave grants totalling £156,671 in the year.
Reser4es pollcy:
Luminary defines reseNes as "an allotment of unrestricted funds which can be spent on any purposes of the
charity.. 11 is the policy of the chanty that reserves should be maintsined al a level equivalent lo three
months. core expenditure. The trustees consider that reserves al Ihis level will ensure Ihal Luminary can
onlinue the charity's ¢￿￿ent acb"vilies in the event of a drop in fvjnding whilst consideration is given lo ways
in which additional funds can be raised. As Luminary is still growing, the charity is building up its reseNes to
meet this policy, with a transfer being made every quarter, following review of the existing financial position
and approval by the Board of Trustees. Achieving and then maintaining the level of reserves is a key
objective of the charity. It is eX￿le￿ that the reserves level will be achieved in 2022.
Future plans
In the coming year Luminary aims to build on the current success of our programme5 and to welcome a new
cohort of women onlo the first stsge of our programme. We intend to utilise this year lo continue lo work
positively and meaningfully with the women we supp)rt. consolidale our learning. invest in staff. systems and
slruclures. and increase our impact

Luminary Limited
Trustees, Annual Report
Year Ended 31 October 2020
We also aim to strengthen the partieipabon of women with lived expenence of both violence & disadvantage,
and of our own programmes. in shaping our service delivery. This is to ensure that Luminary is always
providing the 5UPPOrt and opportunrties needed for the UK'S most disadvantsged women to achieve financial
independence and social mobility - becoming le55 likely to experien￿ homelessness. retum to exploitative
silualion5 or ctime. and for any children they may have to experience a rnore positive future. We do this by
aclivety seeking women's opin￿￿n$ and feedbac￿ about our acbvities and in maintaining an open and
inclusive cultu￿. in addition lo graduates working or volunteering on our programmes, shaping service
delivery. We intend to create an Advisory Board made up of women on the programme or past graduates to
increase their voice in the running of the Charity. wrth a kjnger tem goal of recnJiting two past graduates to
the Trustee Board.
Structure, governance and management
LUMINARY LIMITED is a private company limited by guarantee incorporated and registered in England and
Wales with company number 11651624, and is approved and registered with the Charity Commission with
charity number 1181835, and whose registere(l oltice is al 71-73 Allen Road. London N16 8RY ILuminaryl.
Mothods usad to recruit and appoint trusfees
Luminary Limrted as an independent charity began wf(h 3 trustees who were selected and appointed by staff
employed at that lime by Kahalia. the incubating charity.
Within 6 months 2n extensive process was undert2ken to expand the board of trustees with particular regard
lo the need for additional professional skills and expertise and 2 wider diversity of personnel The trustee
opportunities were advertised on our website and in Social Medi8 and attraeled a great deal of attention,
over 30 eompleled application foms were submitted and all were screened and then a number shortlisted.
All potential candidates received feedback or nobficatson of the outcome of their application. Those
shortlisled were interyiewed in person and a minimum of 2 tnjstees discussed and agreed their appointment.
Six new potential trustees were identified and five a(ttpled. The five new Trustees were fomally appointed
on 27 January 2020. No outside recruthnt agency was used.
PoliciTes and procedures forinduction and traiTning of trustees
All trustees received an induction pack. access to online resovrces and have attended a safeguarding
workshop. Some Trustees have completed NCVO online training mcmyules and a small allocation of funds
exists to support Iruslees in any appropriate development or training. Trustees are encouraged to share their
skills and lo participate in training one anothef for the benefit of the governance of the chaflty.
The Trustee Board meets a minimum of four times a year. Agendas and minules are circulated for
discussion and when appropriate voles are tsken. Meetings in the latter half of the year have taken place
virtually due to the Iwkdowns and S￿la1 distancing requirements in resFM)nse to the coronavirus pandemic.
This has not impacted on the 0￿ratiOn of the meetings.
Future of the Trustee Board
The loss of the Chair of Trustees. Dr Salty Beckw"th, in February 2021 was a Shock for the Luminary
¢ommunity, and Sally is sorety missed. Sally truly embodied the spirit of Luminary 2nd brought so much
knowledge, enthusiasm and drive to the Board. Sally saw the potenh.al that each woman al Luminary
offered and advocated not just for independence as a charity. but for dNJnty and making the world a better
place.
One of Sally's key goals was tr) build a Strong Board of Trustees. with Ihe requisite skill set and mind sel lo
further the charitable purpose of Luminary. Sally was very proud of the Boaid that she helped to sel up and
grow. and as a Board we are honoure(J lo carry forward Sally's legacy and are confident in our ability to do
so.

Luminary Limited
Trustees, Annual Report
Year Ended 31 October 2020
The Trustee Board is currentty rotating the role of Chair of Trustees whilst we undertake a process to find a
new candidate to fill the role on a permanent ba51S.
Arrangements for setb'ng remuneration of key management
The remuneration for key management stsff is reviewed each autumn by a staffing Subgroup of the Trustee
Board but agreed at a Board meeting.
Relationships with related pa￿'•S with which the charity co-operates in pursuit of its charitable
objectives
Luminary Limited has an intercompany agreement with a separate but linked business enterprise, Luminary
Bakery Ltd.
Luminary Limited (Charity) and Luminary Bakery Ltd (the Company) have a close relationship that goes
beyond the Charity's shareholding in Ihe Company, and extends to include, foi example, sharing of certain
staff, premises, social media and certain costs and expenses. Operationalty the tsvo entities have separate
Boards. bul one Luminary Limited trustee represents the Interests of the Charity on the Board of Luminary
Bakery. Additionally. there is a second Luminary Limited trustee who holds. an observer role in Luminary
Bakery Board meetings to aid communication and information flow. as appropriate, on inter-related matters.
Approval is required from the Trustee Board in certain instances in respect of busines5 decisions in
Luminary Bakery Limrted that impact on Luminary Limited. The Luminary Limited board representative and
observer also review Luminary Bakery Limited's quarterty management accounts and annual financial
forecasts lo ensure Ihal Ihe investment Luminary Limrted has in Luminary Bakery Limiled 15 SUPPOrted (see
Note 10)
Major RITsk$
An operational risks group of 4 trustees was established to review the risk register. We have been guided by
the Charity Commission guidance with regard to risk.
Where we have identified a risk, we have assessed it to enable us to decide the level of priority that should
be applied, aclton taken to prevent the risk and mitigalj.ng actions we should lake in responding to it. This
assessment lakes account of the following:
the impact of the risk (the harm)
the likelihood of the risk materiali5ing
In assessing the impact, we fccus on the type and level of harm that may result rf the risk materialises. This
includes taking into account the resources and experience of Luminary Limited. We have also recorded
timescales for the risks lo be reviewed on a regular basis in order that register becomes truly a working
document

Luminary Limited
Trustees, Annual Report
Year Ended 31 October 2020
Trustees, responsibilities
The Irustees {who are also director5 of Luminary Lirnrted for the purposes of company lawl are responsible
for preparing the Trustees. Annual Report and the financial staternent5 in accordance with applieable law
and United Kingdom Accounts'ng Stsndards (United Kingdom Generally Accepted A¢¢ounting PraCt￿e).
Company law requires the trustees to prepare financial statements for each financial year. which give a true
and fair view of the stale of affaiTS of the charitable company and of Ihe incoming resources and application
of resour￿5, including the income and expenditure, of the charitable company for that period. In preparing
these financial 51alemenls. the trustees are required to-
select suitable accounting policies and then apply them consistently..
observe the methods and principles in the Chan11es SORP 2015 IFRS 1021..
make Judgements and eslimales that are reasonable and prudent..
stste whether appI￿able UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements,.
prepare the financial statements on the going con￿rn basi5 unle55 11 Is inappropriate to
piesume that the charitable company will continue in operation.
The trustees are responsible for keepiThJ adequate accounting records that di5c105e with reasonable
accuracy at any time the financial position of the charitsble company and enable them lo ensure that the
financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the charitable eornpany and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
This report was approved by the trustees on
151712(
and signed on their behalf by..
On behaw of the board
K A Gilbert
Trustee

Luminary Limited
Independent Examiner's Report to the Trustees of Luminary Limited
Year Ended 31 October 2020
I report lo the charity trustees on my exanNnation of the accounts of the company for the year ended 31
October 2020 which are set out on pages 10 to 21.
Responsibilities and basis of report
As the charity trustees of the Company (and also rts directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordance wth the requirements of the Companies Act
20061.the 2006 Aet'l.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examination. I report in respect of my examinatson of your
ompany's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011" Act'l. In carrying
out my exarnination I have followed the Directions given by Ihe Charty Commission under section 14515llbl
of the 2011 Act.
Independent examlnefs statement
I have completed my examination. I confirm thal no mallers have come to my attention in connection with
the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the company as required by section 386 of Ihe 2006 Act..
or
the accounts do not accord with those records.. or
the accounts do not comply with Ihe accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fair view. whieh Is not a matter considered as part of
an independent examination., or
the accounts have not been prepared in accordance with the methods and principles of the Statement
of Recommended Practice for accounting and reporting by charities applicable lo chanties preparing
their accounts in accordance wth the Financial Reporting Standard applicable In the UK and Republi
of Ireland (FRS 1021.
I have no concems and have come acr055 no other matters in connect￿n with the examination to which
attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be
feached.
S/m?r*J 6v>>
Barnes Roffe LLP
Charles Lake House
Claire Causeway
Crossways Business Park
Dartford
Kent
DA2 6QA
Dale..
? I CSGLY ZQZ I.
10

Luminary Limited
Statement of Financial Activities (Includlng Income and Expendlture Account)
Year Ended 31 October 2020
2020
Restricted
funds
5 months to 31 October 2019
Unrestricted
Restricled
funds
funds
Unrestricted
funds
Total
Total
Note
Income and
endowments from:
Donations and
legacies
Government grants
ICJRS income)
202,025
1￿,020 398,045
51.092
.157,713 208,805
8.597
8.597
Total incomè and
endowments
202.025
204.617 4(E.642
51,092
157,713 208,805
Expenditure on:
Raising funds
1.222
32
1.254
2.630
2.630
Charitable activilie5
85.955
185.799 271.754
24,846
64,263
89,109
Total expenditure
87.177
185.831 273,008
27,476
64.263
91.739
Net income
114.848
18.786 133.634
23,616
93,450 117,066
Transfers between
funds
15.515
{15.515)
Net movement in
funds
15
130,363
3.271 133.634
23.616
93,450 117,066
Reconclllation of
funds:
Total funds brought
forward
23.616
93.450 117.066
Total funds carried
forward
153,979
,721 250.700
23.616
93,450 117,066
All income and expenditure has arisen from continuing aeb"vrties_
The statement of financial a¢tNib"e5 includes all gains and Io55es recognised during the perKd.
11

Luminary Limited
Balance Sheet
Year Ended 31 October 2020
2020
2019
Note
Fixed assets
Tangible fixed assets
Investments
71.087
30,(M)O
10
30.000
101.087
30,000
Current assets
Debtors
Cash at bank and in hand
11
34.8
172,536
11.842
109,302
207.432
121.144
Creditors: amounts falling due within one
year
12
(33,6371
15,578)
Nel current assets
173.795
115.566
Total assets less current liabilities
274.882
145,566
Creditors: arnounts falling due after more
than one year
13
(24,1821
128,5001
Nel assets
250,7Crf)
117.066
Charity Funds
Restricted funds
Unresliicled funds
15
15
96,721
153.979
93.450
23.616
Total charity funds
15
250,7LKJ
117.C66
The charitable company's financial statements have been prepared in accordance with the provi5i9n5
applicable to companies subject to the small companies regime.
The tnjstees consider that the company is ent￿ed to exemption from the requirement to have an audit under
the provisions of section 477 of the Companies Act 20(￿ {'the Acr) and members have not required the
company to obtain an audit for the period in queskn.on in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act
2006 with respect lo accounbng records and the preparab.on of financial statements.
The financial statements were approved and authorised for issue by the trusiees on
signed on their behaW, by..
J5171£1
and
K A Gilbert
Trustee
The notes on pages 13 to 21 form part of these financial State￿nIS.
12

Luminary Limited
Notes to the Financial Ststements
Year Ended 31 October 2020
Summary of significant accounting policies
lal General information and basis of preparation
Luminary Limited is a charitsble company limrted by guarantee incorporated in England. The address
of the registered office is given in the charrty information on page 2 of these financial statements. The
nature of the charity's operations and principal aclNities is the provision of bakery programrnes to
disadvantsged women.
The char¢ty constitLFles a public benefil enb.ty as defined by FRS 102. The financial slalemenls have
been prepared in accordance with Accounting and Reporb"ng by Charities." Statement of
Recommended Pracb"ce applicable to charib.es preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the
Financial Reporting Standard applicable in the Untted kn'ngdom and Republic of Ireland (FRS 1021. the
Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial State￿EntS are prepared on a going concern basis under the historical cost convention,
modified to include certain items at fair value. The financial slatements are presented in sterling which
is the functional currency of the charity-
The significant accounbng policie5 applied in the preparation of these financial statements are set out
below. These policies have been consistenty applied to 811 years presented unless othe￿iSe staled.
{b) Funds
Unrestricted funds are available for use al the discrets.on 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 charty for particular purposes. The cost of raising and
administering such funds are charged against the specific fund. The aim and use of each re5triGted
fund is set out in the notes lo the financial stalements.
{¢) lTrcorne recognition
All incoming resources are included in the Statement of Financial Activities ISoFA} when the charity is
legalty enlilled to the incorre after any performance condrtions have been met, the amount can be
measured reliabty and it is probable that the income wll be received.
Donations are recognised when receivable. If there are conditions attached to the donation and this
requires a level of performance before entiuement can be obtained then income is deferred until those
conditions are fully met or the fulfil￿Ent of those conditb)ns is wthin the control of the charity and il is
probable that they will be fulfilled.
Donations reL3ting to expenditure on tangible fixed assets are credited to profil or loss at the same rate
as the depreciation on the assets to which the donation relates. The deferred element of donations is
included in creditors as deferred income.
GrfÈ Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid
amount recovered on a donab.on is cons￿ered lo be part of that gift and is Irealed as an addition to the
same fund as the initial donalion unless the donor or the tern￿ of the appeal have specTfied otheNise.
13

Luminary Limited
Notes to the Financial Statements
Year Ended 31 October 2020
Id) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under heading5 that
aggregate all costs related to the calegory. Expenditure is recognised where there is a legal or
constructive obligalion lo make payments to third parties. il is probable that the settlement will be
required and the amount of the obligation can be measured reliably. It is calegorised under the
following headings..
Costs of raising funds includes all expendrlure ass(￿lated with raising funds for the charity. This
includes the costs of fundraising events, stsff costs assccwted wrth fundraising and support
costs",
Expenditure on ¢haritable a¢tivities includes all costs 8sso¢iated with furthering the charitsble
purposes of the charity through the provisKtrn of its charitable activities. This includes staff costs
and support costs", and
Other expenditure represents th(%e items not falling into the categories above.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Support costs are those that assist the work of the charity bul do not directly represent charitable
activities and include premises costs. governance costs and adminislralive payroll costs. They are
incurred directly in support of expenditure on the objects of the charity and include project
managernenl carried out by"Ihe charity. Where support costs cannot be directly attributed lo particular
headings they have been allocated to C05t of raising funds and expenditure on charrtable activities on
2 basis consistent wrth use of the resources.
The analysis of these costs is included in note 5.
{el Tangible fixed assets
Tangible fixed assets under the cost rrbjdel are stated at historical cost less aceumulated depreciation
and any accumulated irnpaimient losses. Historical cost includes expenditure that is directly
atliibulable to bringing the a5sel lo the loeation and eonditson necessary for it to be capable of
operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their
eslimaled useftjl INes, on a Stra￿h1 line basis_
DepreGigtion is provided on the folk)wing basis."
Leasehold F)ropety- over the life of the lease
The assets, residual values, useful lives and depreciation methc*Js are reviewed. and adjusted
prospecbvely if appropriate. or if there is an indication of a significant change Sin￿ the last reporting
dale.
Gains and losses on disposals are determined by comparing the proceeds wrth the carrying amount
and are recognised in profft or loss.
lfj Investments in associates
Investments in ass(ciales are measured at cost less accumulated impaimient
g) Debtor6
Short lerm debtors are measured at IransactKsn price. less any impaimEnt. Any losses arising from
imwrmenl are recognised in eXpendi￿re.
14

Luminary Limited
Notes to the Financial Statements
Year Ended 31 October 2020
(h) Cash at bank and in hand
Cash al bank and in hand includes cash and short tem highly liquid investments with a short term
rnaturity of three months or less from the date of acquisition of opening the deposit or similar account.
lil Creditors
Short term ¢￿dIt¢￿s are Measu￿ at the transaction price.
(i} Loans and borrowings
Loans and borrowings are initially reeognised al the transaction pr￿e including transaction costs.
Subsequenlty, they are measured at arThJrts"sed cost using the effective interest rate method, using the
effective interest rate method.
Ik) Concessionary loans
Con￿SsiOnary loans include those payable to thifd parties which are interest free or below market
interest rates and are made to advance charitable purtx)ses. Where the loan is repayable on demand
within one year. the loan is measured al cost, less impairment_ Vvhere Ihe loan 15 repayable in more
than one year, the loan is inilia15y measured at fair value and 5ubsequentty measured at amortised
cost using the effectNe interest rate method, less impairment
{1) Operating leases
Rentals payable under operating leases are charged to the SOFA on a straight line basis over the
period of the lease.
{m) Penslons
The charity operates a defined contribution plan for its employees. A defined contribution plan is a
pension plan under which the charity pays fixed contn'bulions into a separate entity. Once the
eontribubons have been paKI the charity has no further payment obligations.
The contributions are recognised as an expense in the SOFA when they fall due. Amounts not paid are
shown in other cred11ors as a l￿bIlity in the Balance sheet. The assets of the plan are held separately
from the charity in an independenty adrninistered fund.
Thè charity is an exempt charity within the n￿anIng of schedule 3 of the Charities Acl 2011 and 15
considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it
meets the definibon of a charitsble company for UK corporalion tax purposes.
(o) Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grant5 ￿lating lo
expenditure on tangible fixed assets are credited lo profil or loss at the same rate a5 the depreciation
on the assets to which the grant relates. The deferred element of grants is included in creditors as
deferred income.
Grants of a revenue nature afe recognised in the statement of comprehensive irkcome in the same
period as the related expenditure.
15

Luminary Limited
Notes to the Financial Statements
Year Ended 31 October 2020
{p) Flnanclal Instruments
The eharity only has financial assets and financial liabilities of a kind that qU81ify as basic financial
instruments. Basic fi'nancial instruments are initially recognised al tran5acts.on value and subsequently
measured al theif settlement value with the exception of loans whieh are subsequently measured at
arnort15ed cost using the effective inlerest method.
{qTr Going concern
Since March 2020 the company has had lo deal wr(h the coronavirus pandemic and the associated
measures that governments. funders, suppliers and finan￿ providers are putting in place lo deal with
it. While the charity will undoubtedty suffer some adverse impact from this in the short lerm, the
trustees are confident that we can work through the ternporary disruption and that our business plan5
are robust even in Ihe cu￿ent situation. The trustees have considered the level of funds held and the
expected level of income and expenditure for 12 months from authorising these financial stalements.
The budgeted income and expenditure is sufficient with the level of reserves for the charity lo be able
to continue a5 a going eoncem. On the basis of the above the accounts have been pre￿red on the
going ¢on¢ern basi5.
Income from donations and legacles
5 month5
to31
October
2019
2020
Donations, grants and funding
398,045
208.805
398.045
208.805
Government grants
2020
5 months
to31
October
2019
Coronaviru5 Job Retention Scheme Ineoff
8,597
8.597
16

Luminary Limited
Notes to the Financial Statements
Year Ended 31 October 2020
Analysis of expendilure on charitable activities
2020
5 months
to31
October
2019
Staff costs
Site set up costs
Support costs
Oeprecialion of leasehobJ improvements
196.578
27.154
37,457
24,498
67,278
7,898
271.754
89.109
Allocallon of support costs
2020
5 months
to31
October
2019
Legal, professional and accountancy fee5
Rent, rates and premises costs
Insurance
Sundry expenses
Finance costs
Course ingredients
Staff and Trustees expenses
General offKe expenses
Travel
Resources
9,860
39.053
2,286
434
111
1,287
938
4.792
426
8.091
6,013
13,054
1,439
364
69
1,750
654
1.155
67,278
24,498
Independent examiners remunernlion
The independent examiners remuneration amounls to an independenl examinab'on fee of £1,994
(2019. £1,994) and olhef accountancy fees of £4.690 (2019.. £870).
Trustees. and key management personnel remuneration and expenses
No trustee feceived any remuneration during the period ended 31 October 2020.
Expenses of £75 (2019.. £195) were reimbursed to trustees during the period ended 31 October 2020.
The total remuneration received by key marwgement personnel is £33,614 (2019.. £6,673 (5 months to
31 October 2019). The TeMunerat￿n is split wilh 50% b￿"ng borne by another entity. The key
management personnel comprises the Chief Executive only.
17

Luminary Limited
Notes to the Financial Statements
Year Ended 31 October 2020
Stsff costs and employee benefits
The total staff Costs and employee benefits were as follows..
2020
5 months
to31
October
2019
Wages and salaries
National insurance
Defined contribution pension costs
Staff training costs
Staff welfare
169.743
14.011
4.599
1.330
6,895
22,376
2,775
672
1,331
1￿.578
27,154
No employees received lotsl employee benefits {excluding employer pension costs) of more than
£60,000.
The average monthly number of employees and full time equNalent {FTEI for the year to 31 October
2020 was 812019. 1}.
Tangible flxed assets
Leasehold
improvements
Total
Cost or valuation..
Al 1 November 2019
Additions
At 31 October 2020
78,985
78.985
78,985
78,985
Depreciation..
Al 1 November 2019
Charge for the year
At 31 October 2020
7,898
71,087
7,898
71,087
Carrying amount".
Al 31 October 2020
Al 31 October 2019
71,087
71,087
During the year the company incurred capital expenditure in relation to fitting oul a new bakerylcafé
and training cenlre in Chalk Farrn. Camden.
18

Luminary Limited
Notes to the Financial Statements
Year Ended 31 October 2020
10 Fixed asset investments
Investments
in associates
Total
Cost or valuation..
Al 1 November 2019
Additions
Al 31 October 2020
30,000
30.000
30.000
30.000
Carrying amount..
Al 31 October 2020
30,000
30,000
Luminary Bakery Limited is an associate investment of the charity. At the year end Luminary Limited
owned 36.3% of the totsl share ￿pts1 of Luminary 8akery Limited.
11 Debtors
2020
2019
Amounts owed by undertakings in which the charity has a
participating Inte￿51
Prepayfflents
29.148
11.842
5.748
34.896
11.842
12 CreditOf5: amounts falling due within one year
2020
2019
Trade creditors
Other tax and social security
Other creditors
Accfuals and deferred income
Concessionary loans payable
Amounls due to undertakings in which the charity has a
participating interest
Net wages
2.597
4,170
3,914
5,016
1,594
1,036
1,448
1,500
5,538
12.402
33,636
5,578
19

Luminary Limited
Notes to the Financial Statements
Year Ended 31 October 2020
13
Creditors: amounts falling due after more than one year
2020
2019
Concessionary knans payable
Accruals and deferred income
28.500
24,182
24,182
28,500
14 Concessionary loans payable
2020
2019
Other loan
30.000
30,000
The terms of repaymenl of the concessionary loan are Ihat a minimum of £1,500 should be repaid per
annum stsrting in May 2020 and that the loan should be repaid in full by May 2029. The loan is
interest free. During the year this loan was forgNen by the loaner and donated to Luminary Ltd as
unreslrieted i[￿me.
15
Fund reconeillation
Balance at
31 October
2019
Balance at
31 October
2020
Income
Expenditure
Transfers
Unrestricted funds
General fijnds
23.616 202.025
187,1771
15,515
153,979
Restricted funds
Progression support worker
Opportunities co-ordinator
Employability programme
18.520
7.500
1.688
118,5201
3,005
110.S051
12.483)
6,000
5,205
Bakery training centre
Virtual vocational training and
progression support
Ccunselling swvices and P&C
role
Professional supervision costs
Empowering disadvantaged
women
Accessibility enhancemenls
65.743 168,291
9.980
{154,4CE)
18.457)
79,628
1,523
7.346
15,260)
2.086
1.000
4.000
17781
13,9421
222
58
8.000
8,000
93.450 204.617
(185,8311 (15.515)
96,721
117,066 406,642
1273,0081
250.700
20

Luminary Limited
Notes to the Financial Statements
Year Ended 31 October 2020
16 Analysis of net assets between funds
Unrestricted Restricted
funds
fuThJs
2020
2020
Unrestricted Restrited
fund5
funds
2019
2019
Total
2020
Total
2019
Nel assets
153,979
96,721
250.700
23.616
93.450
117.Ci$6
Total
153.979
96,721
250.7¢)0
23.616
93.450
117,Ci$6
17 Operating lease cornmitments
Totsl future minimum lease payments under non-cancellable operating leases a￿ as follows..
2020
2019
Land and buildings
Not later than one year
Later than one and not later than fve yea
50,000
83.333
63.750
183.333
133,333
247,083
18 Pensions
The charity operates a defined contribution pension scheme. The pension cost charge represents
employer contributions payable by the charity to the fund and amounted to £4,599 (2019.. £672).
Employee and emFloyer contn"bub"ons totalling £3.914 (2019.. £1,036) were payable lo the fund al the
balance sheet date.
19 Related party transactions
As at 31 October 2020, a balance of £29.148 (2019_" £11.842) was owed by Luminary Bakery Limited,
a company in which Luminary Limited holds a participating interest.
As al 31 October 2020, a balan￿ of £5.538 (2019.. £Nil) was owed to Luminary Bakery Limited.
company in which Luminary Limited hokls a participaling interest.
During the year lo 31 October 2020 individuals employed by Luminary Bakery Limited undertook work
on behalf of Luminary Limited. The total salaries including employer's national insurance and pension
recharged to Luminary Limited in relatson to this work was £12.815 (2019.. £6.972)-
21