**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**
Page 1
## **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**|
Page 2
## **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**
Page 3
## **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.
Page 4
## **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)**
Page 5
## **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**
Page 6
## **THE LIGHTHOUSE INITIATIVE Statement of financial activities for the Y/E 31 October '2021**
|**INCOMING RESOURCES**
**Note**
**Grants and Legacies:**
Donations
**2**
Others
**Total Incoming Resources**
**RESOURCES EXPENDED**
**3**
Costs of generating funds:
Charitable activities:
Governance costs:
**TOTAL RESOURCES EXPENDED**
**NET INCOMING/(OUTGOING) RESOURCES**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**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**|
Page 7
## **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**
Page 8
## **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.
Page 9
## **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
Page 10
## **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**|
Page 11
## **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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