2021-10-31-accounts - The Lighthouse Initiative

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Company Number: 11808023 Charity Number: 1193251 England and Wales

THE LIGHTHOUSE INITIATIVE

Director's and Trustee's Report and Financial Statements

For the Period Ended 31 October '2021

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THE LIGHTHOUSE INITIATIVE

THE LIGHTHOUSE INITIATIVE
Contents Company & Charity information Directors' & Trustees' report Independent examiner’s report to the Trustees Financial Statements Balance Sheet Notes to the accounts	Report and Accounts
	Page 3 4&5 6 7 8 9-12

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THE LIGHTHOUSE INITIATIVE

Charity Information for period ended

31 October '2021

Trustees:

Mr Bilal Sheikh (Chairman) Mr Babatunde Adetayo Mr Saqib Jameel Sattar

Principal bankers: Santander Bank London Business Address: 150 WRAYSBURY DRIVE YIEWSLEY WEST DRAYTON UB7 7FR

Company Number: 11029188 Charity Number: 1193251 England and Wales Accountants: S M Q Accountancy and Management Consultancy Ltd Crown House-Suite 702, North Circular Road London NW10 7PN

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THE LIGHTHOUSE INITIATIVE Directors'/Trustees Annual Report

Structure, Governance & Management

The Lighthouse Initiative (trading name “Manarah Foundation”) was incorporated as a company limited by guarantee on 24 October 2017 entered into the Charity Commission register on 21 January 2021 as amended by special resolution.

Organisational Structure

The charity trustees are responsible for the strategic management of the charity. The CEO and staff are responsible for the implementation of plans and the day-to-day running of the charity.

REFERENCE AND ADMINISTRATIVE DETAILS: Registered charity name

THE LIGHTHOUSE INITIATIVE Charity registration number 1193251 Principal office: 50 Wraysbury Drive, Yiewsley, West Drayton UB7 7FR

THE DIRECTORS AND TRUSTEES

The trustees who served the charity during the period were as follows: Mr Bilal Sheikh (Chairman) Mr Babatunde Adetayo Mr Saqib Jameel Sattar

Accountant

S M Q Accountancy & Management Consultancy Limited Crown House, North Circular Road, London NW10 7PN

GOVERNANCE AND MANAGEMENT OBJECTIVES AND ACTIVITIES

Structure, governance and management Structure

The Lighthouse Initiative (trading name “Manarah Foundation”) was incorporated as a company limited by guarantee on 24 October 2017

entered into the Charity Commission register on 21 January 2021 as amended by special resolution.

Objectives

The charity's objects ("objects") are specifically restricted to the following, to be provided mainly but not exclusively for persons residing in west drayton and the surrounding areas:

(A) for the public benefit the advancement of education by providing educational classes and workshops

(B) the advancement of the islamic faith by providing facilities for prayer, religious teachings, pastoral care and community outreach consistent with the values given in the statement of faith

(c) to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life

Risk Management

The trustees have assessed the major risks to which the charity is exposed to and are satisfied that systems are in place to mitigate exposure to these risks.

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THE LIGHTHOUSE INITIATIVE

Aim:

Provide religious, educational and social activities for the local community.

What we do:

Provide faith-based and social services to the communities residing in west drayton and the

This is done through:

Provides Buildings/facilities/open Space. Provides Services surrounding areas.

Activities

During the financial year, the charity continued to fundraise in order to carry our renovation work on the newly acquired building on Warwick Road. The fundraising was carried out through using a digital ads agency.

THE LIGHTHOUSE INITIATIVE

Financial Overview

Reserves policy

The trustees have set a reserves policy of £10,000

For the year ended 31 October '2021 the THE LIGHTHOUSE INITIATIVE had a surplus of £84,898 The charity's financial position strengthened over last year as trustees and management retained their commitment over the scrutiny of costs and careful selection of focused projects.

Principal funding source

The majority of funds are raised through grant applications, an area that the trustees are keen to develop further.

Measures in place

The trustees have put in place key outcomes and outputs for which funds are to be used. All the funds are used to further the charity’s objects.

Financial management policy

The financial management is managed by the trustees and staff who ensure that the charity adheres to its financial policy and procedures.

Approved by the trustees on 30th August 2022 and signed on their behalf:

Mr Saqib Jameel Sattar (Trustee)

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Independent examiner’s report to the Trustees of THE LIGHTHOUSE INITIATIVE

I report on the accounts of the charity for the year ended 31 October '2021, which are set out on pages 7 to12.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility:

a) Examine the accounts (under section 145 of the 2011 Act;

b) To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act);

c) To state whether particular matters have come to my attention.

Basis of independents examiners Report:

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(1) Which gives me reasonable cause to believe that in any material respect the requirements: a) to keep accounting records in accordance with section 140 of the 2011 Act; and b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or

(2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

S M Q Accountancy and Management Consultancy Ltd Crown House-Suite 702, North Circular Road, London NW10 7PN

Date: 30th August 2022

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THE LIGHTHOUSE INITIATIVE Statement of financial activities for the Y/E 31 October '2021

Unrestricted 138913 0	Restricted 0 0	Total 2020/21 138,913 0	Total 2019/20 479,128 0
138,913	0	138,913	479,128
40,796 9,105 4,114	0 0 0	40,796 9,105 4,114	103,827 6,465 750
54,015	0	54,015	111,042
84,898 338,352	0 0	84,898 338,352	368,086 (29,734)
423,250	0	423,250	338,352

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THE LIGHTHOUSE INITIATIVE BALANCE SHEET AS 31 October '2021

TANGIBLE FIXED ASSETS Office and IT Equipments 4 Office Furniture CURRENT ASSETS Debtors Cash at bank and in hand CURRENT LIABILITIES Creditors within One Year Creditors more than One Year 5 NET CURRENT ASSETS Total Current Assets less Current Liabilities RESERVES Income and Expenditue account Members' Funds	2020/21 2019/20 £ £ 529,177 532,391 0 0
	529,177 532,391
	0 0 105,927 51,890 4,114 49,758 181,195 196,171
	105,927 194,039

	423,250 338,352
	423,250 338,352
	423,250 338,352

These accounts have been delivered in accordance with the provisions applicable to companies subject to small companies regime.

For the year ending 31/10/2021 the company was entitled to exemption from audit under section 477 (2) of Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the trustees on and signed on their behalf:

Mr Saqib Jameel Sattar (Trustee) Approved by the board on 30th August 2022

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THE LIGHTHOUSE INITIATIVE

Notes to the Financial Statements For the Y/E 31 October '2021

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 2015)',

Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic oflreland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic oflreland':

the requirements of Section 7 Statement of Cash Flows;

the requirement of Section 3 Financial Statement Presentation paragraph 3.l 7(d);

the requirements of Section 11 Financial Instruments paragraphs 11.41(b), 1l.41(c), 11.41(e), 11.41(f), 11.42, 11.44, 11.45, 11.47, 1l.48(a)(iii), 11.48(a)(iv), 1l.48(b) and 1l.48(c);

the requirements of Section 12 Other Financial Instruments paragraphs 12.26, 12.27, 12.29(a), 12.29 (b) and 12.29A; the requirement of Section 33 Related Party Disclosure paragraph 33.7.

Critical accounting judgements and key sources of estimation uncertainty

There are no significant estimates having a material effect on the financial statements.

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.

Donations

This comprises all incoming resources from donations, grants of general nature provided by other charitable foundations which are not conditional on delivering certain levels of volumes of a service or supply of charitable goods and income from fundraising partners on the basis of that which is remitted to THE LIGHTHOUSE INITIATIVE in the United Kingdom.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to

that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

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THE LIGHTHOUSE INITIATIVE

Raising funds

Raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and them. 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

Governance costs

Governance costs include those incurred in the governance of the Charity and its assets and are primarily associated with meeting the constitutional and statutory requirements of the Charity. Allocation and apportionment of costs

Support costs include central functions and have been allocated to activity cost categories usage. on a basis consistent with the use of resources, for example, allocation property costs by floor areas, or per capital, staff costs by the time spent and other costs by their

Tangible fixed assets

Fixed assets are included at cost. Items are capitalised if their cost or, if gifted their donated value, is over £1,000. Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Office equipment 25% straight line basis

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.

Going concern

The Board of Trustees have reviewed the Charity's financial requirements for a period of 12 months following the date of approval of these accounts and are satisfied that there are no material uncertainties about the charity's ability to continue,therefore the Charity's activities will operate at a continued adequate level of surplus in the future.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value.

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures&Fitting (inc.Computers) Plant and machinery Building of 30% (70:30) of Land and Building

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THE LIGHTHOUSE INITIATIVE

2. Incoming Resources Donation THE LIGHTHOUSE INITIATIVE 3. Expenditure Building Refurbishment IT & Website Telephone Fundraising Cost Business Rate Rent Professional Fee Bank Charges Repair and Maint Utility Cost Accountancy Depreciation	2020/21 2019/20 £ £ 138,913 479,128
	138,913 479,128 2020/21 2019/20 £ £ 0 21,179 886 535 60 0 40,796 20,136 6,846 0 0 3,101 643 56,021 90 785 0 0 580 5,172 900 900 3,214 3,214
	54,015 111,042

THE LIGHTHOUSE INITIATIVE

Notes to the Financial Statements For the Y/E 31 October '2021 4. Tangible Fixed Assets

Notes to the Financial Statements For the Y/E 31 October '2021 4. Tangible Fixed Assets
Cost Opening Balance as at 01 November '2020 Addition Disposal Closing Balance as at 31 October '2021 Depreciation Opening Balance 01 November '2020 Charges for the Year Disposal Closing Balance as at 31 October '2021 Net book value	Building 55,500 480,105 0	Office Equipments 0 0 0	Motor Total Vehicles £ 0 55,500 0 480,105 0 0
	535,605 3,214 3,214 0	0 0 0 0	0 535,605 0 3,214 0 3,214 0 0
	6,428	0	0 6,428
	529,177	0	0 529,177

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THE LIGHTHOUSE INITIATIVE

Notes to the Financial Statements For the Y/E 31 October '2021

Notes to the Financial Statements For the Y/E 31 October '2021
5. Creditors: amounts falling due within one year Accountancy Fee Depreciation Loans Payable 6. Staff Costs Wages and Salaries PAYE	2020/21 2019/20 £ £ 900 900 3,214 3,214 181,195 241,815
	185,309 245,929
	0 0 0 0
	0 0

7. Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to r you where:

• the trustees’ use of the going concern basis of accounting in the preparation of the financial statements appropriate; or

• the trustees have not disclosed in the financial statements any identified material uncertainties that may significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accou a period of at least twelve months from the date when the financial statements are authorised for issue.

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