For the period from 9 May 2022–31 March 2023 Trustees Report & Financial Statements Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Contents - 3 Message from Dr Kylie Hohn, Co founder and Trustee 5 Mission ## 6 Grant programme 13 Spiritual education platform 14 Library of Light & LightEn Publishing 15 Financial review ## 17 Looking ahead 18 Strategic Report 22 Independent Auditor's Report to the Trustees 24 Statement of financial activities 27 Notes to the financial statements ## **The Trustees Report** The Trustees present their report and the audited financial statements for the year ended 31 March 2023. Legal and administrative information set out on page 21 forms part of this report. The financial statements comply with current statutory requirements, the Constitution, and the Statement of Recommended Practice — Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. 2 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements Message from Dr Kylie Hohn, - Co founder and Trustee When we founded LightEn, our aim was to affect system change and address the root issues causing the crises humanity faces. We felt we could do this by focusing on education that has the potential to raise consciousness and help humanity embody the highest levels of Truth, Love, and Wisdom we all hold at our core. At LightEn, we believe there are many pathways to the embodiment of these three qualities— which we refer to as inherent qualities of the soul —and our aim is to signpost those that stand out as truly excellent. We do so because we believe that soul connection and embodiment have the power to inspire and enable us to live the best version of ourselves and, in so doing, step into true service to humanity and the planet. We believe there are great shifts in consciousness occurring on the planet, and as a result, the educational needs of humanity are also shifting and evolving. We started LightEn to fund and support teaching and research into nondenominational spiritual education. In our first year, we have given over £3m in grants. We have identified visionaries and organisations who need our support to enable and amplify their mission. We collaborate with grant recipients in the spirit of deeper connection and meaningful support beyond just financial grant-giving. Our first grant recipient is the Zulma Reyo School of Consciousness (ZRSOC). Zulma Reyo, an educator, author, and lecturer, with over six decades of teaching experience, established ZRSOC in 2022. With our support, ZRSOC provides residential educational courses for teachers and leaders on the principles of consciousness, energy, and self mastery. We are thrilled that the school is having a global impact—in its first two years, Zulma and her team have taught eighty-nine students from twentythree countries, thirty nationalities, and in three languages: English, Spanish, and Portuguese. ‘We believe there are great shifts in consciousness occurring on the planet, and as a result, the educational needs of humanity are also shifting and evolving.’ Our grant programme also includes a fellowship programme for spiritual teachers, authors, thought leaders, and researchers globally and across several languages, including Arabic, Spanish, Portuguese, and English. Alongside this journey with grant recipients and fellows is our dedication to curating and creating exceptional spiritual educational content. This content is a gift, freely given and available to all through LightEn’s Library of Light. 3 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements This nascent online library is an educational platform that seeks to highlight the spiritual voices from the past and present in service to humanity’s future. The Library of Light is a thoughtfully curated collection of spiritual works to help the reader with their own journey of discovery—whether that be a search for higher self, inspiration, solace, perspective, comfort, or enlightenment. Our publishing arm publishes important works by LightEn’s grant recipients and fellows from our Writer’s programme, as well as significant works that are out of copyright and merit wider distribution. We are delighted that LightEn’s first publication, _Inner Alchemy: The Path of Mastery_ , written by our grant recipient Zulma Reyo, was awarded two prestigious book awards: The Independent Press Award and the Nautilus Book Award. Zulma Reyo’s book has also been downloaded more than 25,000 times in English, Spanish, and Portuguese. What I am most excited about at LightEn is not what we do, but _how_ we do what we do. We are, for example, developing a team practice in service to our employees, such that they may experience and live our mission; they learn to walk the talk. I am immensely proud of what we have achieved in our first year and the path ahead. I extend my deepest gratitude to my fellow trustees, the LightEn team, our grant recipients and fellows, and to my Co-founder Sir Christopher Hohn, for their commitment to the mission of LightEn. I truly believe that together we can be the change we wish to see in the world. Dr Kylie Hohn Co-founder and Trustee 4 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Grant ## programme ‘It’s our mission to give people tools to aspire towards the light and ignite a fire and drive for spiritual development.’ —Richard Smith, Director of TCCHE LightEn makes grants to charitable organisations and individuals who demonstrate excellence in spiritual education and are truly dedicated to service. We nurture these relationships and have a flexible funding model which offers multiple ways for our grant recipients to evolve, grow, and flourish. The Trustees consider grant proposals that result from the research and discernment of the LightEn senior leadership team. Our grant recipients tend to be global visionaries, often in a formative stage, who need our support to realise their vision and mission. **----- Start of picture text -----**
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Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## School of Wholeness and Enlightenment LightEn partnered with the School of Wholeness and Enlightenment (SoWE) in the co-creation of a leading-edge, humanitarian, and spiritual education centre in the United States. The campus includes a 150-person auditorium, a wholeness sanctuary for energy healing, and a centre for experiential learning. This is the culmination of five years of work, from a large, dedicated team of over 100 people in service. The purpose of this project is to create a state-ofthe-art campus for the cultivation of wisdom across disciplines and sectors on topics such as: energy mastery, soul-focused healing, conscious leadership & business, and climate care. 7 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Zulma Reyo School of Consciousness LightEn supports the Zulma Reyo School of Consciousness (ZRSOC), based in Mallorca, which seeks to educate and inspire leaders for a new world through a residential ego/energy-mastery programme. At the very core of the teachings is the premise that we can be the change we wish to see in our world. With our support, ZRSOC has achieved remarkable milestones in its first years of teaching and operation. Eighty-nine students made the commitment to the school’s five-year, part-time programme at ZRSOC and have now completed two years of the course. These students are future teachers of the principles of Inner Alchemy and leaders in their respective fields and sectors. ZRSOC also produces high-quality educational content—including teaching materials and digital media—and Zulma Reyo continues to author important spiritual works that are freely available in ebook, audiobook, and hardback formats. ‘Pass the truth on…that others may learn early what we learn too late…’ —Zulma Reyo, Founder of ZRSOC **----- Start of picture text -----**
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Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements **----- Start of picture text -----**
Image: @Giovanni Canova
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## TCCHE Over 4,000 people have attended TCCHE events in 2023. LightEn supports The Conference for Consciousness & Human Evolution (TCCHE) in their creation of educational events and online training programmes. TCCHE activities are well-respected within the community for their blend of science and spirituality, and their events feature internationally renowned speakers, best-selling authors, and spiritual leaders. We supported TCCHE to further grow their reach and impact through the development of their team resources and the creation of a pilot breathwork course. Our grant contributed to TCCHE’s facilitation of numerous events and activities in 2023, including: their flagship Conference for Consciousness and Human Evolution in London; The Freedom Concert; a two-day immersive breathwork weekend with Christian Minson; and an intimate discussion and Q&A with Dr. Gabor Maté on the topic of how our health is impacted when a society prioritises material pursuits over genuine human needs and spiritual values. 9 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## CoreLight ‘Teachers and students walk the path together, [both] acknowledging that we are all learning and growing. It is a process of becoming rather than a destination or a goal.’ —Brad Laughlin, Co-founder of CoreLight LightEn supported CoreLight, a non-profit organisation, to re-publish, digitise, and record as an audiobook, two seminal works— The Marriage of Spirit and Returning to Oneness —written by the CoreLight founders, Leslie Temple-Thurston and Brad Laughlin. These books provide humanity with essential tools to enable spiritual awakening. The Marriage of Spirit is a handbook that synthesises spiritual psychology and ancient teachings. It explores how we can experience divine presence in our lives through offering simple and powerful exercises for creating balance and harmony. Returning to Oneness reveals the limitations that restrict the flow of light in the body and mind and shows us how to awaken more permanently to our full potential by using a series of simple Keys, which are rooted in the ancient teachings of non-duality. 10 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Al Noor One The ANO community has over 2,500 members with 170 students in training to become advanced practitioners. LightEn also support Al Noor One (ANO). ANO, founded by LightEn fellow George Stanboulieh, is focused on supporting the evolution of consciousness, primarily aiding the Arabicspeaking community. Through LightEn’s support, ANO have provided a training programme for individuals to become advanced practitioners, enabling them to lead and guide others in the Arabic community through the practice of group meditation. 11 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Fellowship programme LightEn provides fellowship grants to individuals dedicated to true excellence in their spiritual service to humanity. Such service could include teaching, talks, courses, workshops, writing, video and documentary production, and other activities with the potential to be of great benefit to humanity. In our first year, we have supported four fellows and developed the programme into two pathways— an Incubator and Writer’s programme. The Incubator programme is to support nascent, visionary teachers to realise their mission, while our Writer’s programme supports individuals to write and create their own spiritual content. 12 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements The Library of Light Research Team exists to source, assess, and distil the wisdom of the boundless genre that is concerned with spirituality, consciousness, and personal growth. ## Library of Light Research Team Our goal is to apply the standards of academic excellence and rigour to the field of spiritual work, and offer a tightly curated multi-media resource —The Library of Light—which is freely accessible to all. Our research is guided not by the desire to convince or prescribe, but to facilitate awareness of the ancient wisdom that manifests across time and cultures. LightEn publishes significant spiritual works that are out of copyright, need digitisation or audio recording, and bespoke commissions of LightEn grant recipients. These publications are also included in the Library of Light and are free to access and distribute globally. LightEn Publishing 14 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Financial review: current year finances The financial statements show an income of £4,850,192 for the period ending 31 March 2023. All income is donations received from The Children’s Investment Fund (TCI Fund), whose founder Sir Christopher Hohn is also a Co-founder of LightEn. During the period, LightEn made payments for grants, fellowships, and donations totalling £3,360,050. In addition, £194,892 was spent on educational content, which includes the Library of Light and LightEn Publishing. These costs are directly in line with LightEn's charitable objects. **----- Start of picture text -----**
Expenditure analysis £(GBP)
Grantees
Al Noor One (ANO) 23,949
Asociación Alquimia Interior España (ZRSOC) 995,550
CoreLight 12,080
School of Wholeness and Enlightenment (SoWE) 1,740,027
TCCHE Ltd 480,000
Total grants 3,251,606
Total fellowships 98,444
Total donations 10,000
Grants, fellowships, and donations 3,360,050
Spiritual education content 194,892
Support costs 377,364
Total charitable activities expenditure 3,932,305
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15 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Financial review As a charitable organisation focused on grantgiving, our initial goal was to allocate 70% of our expenditure to fund our grant programme. We are delighted to report we have directed 85.4% of our expenditure to our deserving grant recipients. Our administrative costs accounted for 9.6% of our expenditure and the remainder of 5% was allocated to producing high-quality educational content. ## Breakdown of charitable expenditure **----- Start of picture text -----**
9.6%
5%
85.4%
Spiritual education content
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Grants, fellowships, and donations
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Support costs
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16 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Looking ahead Looking ahead we will continue to meaningfully support our existing grant recipients and fellows as they embark on the next stages of their service, and we are open-hearted to opportunities for collaboration with new partners who are in alignment with our mission. In 2024, we look forward to receiving new applicants for the autumn cohort of ZRSOC, the opening of the LightEn Center of Consciousness and Action in the Blue Ridge Mountains, as well as the development of the core principles of The Marriage of Spirit teachings into an educational tool with global reach. We will also continue to curate, produce, and distribute gold-standard educational content through the emerging platforms of our Library of Light and LightEn Publishing. ‘...to be in Service to those souls in our world who want to grow and live consciously in Truth, Wisdom, and Love.’ Importantly, we will further cultivate our team practice wherein we can truly align our mission and culture, and set the tone for this period of growth and expansion at LightEn. We are excited about growing our small team in the coming year, and will be guided in our action by an unwavering commitment to be in Service to those souls who want to grow and live consciously in Truth, Wisdom, and Love. **----- Start of picture text -----**
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Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor's Report Strategic Report Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Strategic Report ## **Structure, Governance, and Management** As a charitable incorporated organisation our governing document is a constitution. LightEn Education Network (LightEn) was registered as a charitable incorporated organisation (CIO) with the Charity Commission in England and Wales on 9 May 2022 with registration number 1198876. ## **The Board of Trustees** The Trustees who were in office during the period and up to the date of signing the financial statements were: Dr Kylie Hohn (Co-founder) Chole Skewes Jacob Skewes All Trustees were appointed on the date the charity was founded, 9 May 2022. Aside from Dr Kylie Hohn, who is appointed for life, every charity Trustee must be appointed for a term of one year by resolution of the members of the CIO. In selecting individuals for appointment as charity Trustee, the members of the CIO must have regards to the skills, knowledge, and experience needed for the effective administration of the CIO. All Trustees give their time freely and no Trustee remuneration was paid in the year. Trustees are provided with relevant information relating to their responsibilities including a copy of the current version of the constitution and a tailored Trustee handbook prepared by the CIO’s solicitors. The Trustees only consider grant proposals that result from LightEn’s research and knowledge of thought leaders and organisations working in spiritual education. The Trustees tend to favour supporting global visionaries that need LightEn’s help to realise their vision and mission. ## **Delegated Authority** The Trustees are responsible for the overall direction and supervision of the CIO; they set LightEn’s strategy, review proposals, and approve grants. The Trustees delegate day-to-day operations to the Co-founder and principal officers. ## **Related Parties** During the year, the charity has entered into transactions with related parties including in relation to receipt of funding from TCI Fund Management Limited, its relationship with LightEn Network Ltd, and transactions connected to grant recipients. Further details are disclosed in Note 16 to the financial statements. ## **Remuneration** The remuneration of key management personnel is reviewed by the Trustees taking into account the requirements of their role and experience. For each appointment, the Trustees benchmark pay levels against comparable positions in similar organisations. Trustees are aware of the Charity Governance Code, updated in 2020, which sets out the principles and recommended practice for good governance within the sector. They have reviewed the CIO’s governance arrangements against the principles set out in the code. They believe that these arrangements align with the code to an appropriate degree. ## **Charities and Public Benefit** Trustees are aware of the Charity Commission guidance on public benefit and confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to it. Trustees consider that the information which follows in this annual report, about LightEn’s aims, activities, and individual grants demonstrates the public benefit that arise from its grant-making and the advancement of education through its educational content creation. ## **Volunteers** Two volunteers contribute to the activities of LightEn. These volunteers provide creative input for the development of some of our educational content. ## **Fundraising** The Trustees are fully aware of the requirements and duties set out in the Charities (Protection and Social Investment) Act 2016. The CIO does not undertake fundraising from the public and does not use professional fundraisers or commercial participators. The charity does not have any fundraising activities within scope of section 13 of the Charities (Protection and Social Investment) Act 2016. As LightEn does not approach individuals for the purpose of raising funds, we do not have specific requirements related to fundraising activities, nor do we consider it necessary to design specific procedures to monitor such activities. The income of the CIO is not bound by any regulatory scheme, and the CIO does not consider it necessary to comply with any voluntary code of practice relating to fundraising. The CIO has not received complaints in relation to any fundraising activities. 19 Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements Introduction Strategic Report ## **Risk Assessment** The Trustees are responsible for the management of risks faced by LightEn and have examined the major risks to which LightEn may be exposed. LightEn is committed to the proactive identification, assessment, and management of risks to protect the integrity of its mission in raising human consciousness through education. The charity recognises that risk is an inherent part of its operations, and effective risk management is essential to ensure the sustainability and success of our programmes. The principles of risk management at LightEn is a proactive approach, as well as transparency and accountability. The Trustees have examined the major strategic, business, and operational risks to which LightEn may be exposed. The principal manageable risks identified by the Trustees are those related to safeguarding of grantees’ staff and beneficiaries, and monitoring end use of funds for overseas grants. The Trustees are satisfied that adequate systems are in place to manage such potential risks as the Trustees have identified. The Trustees continue to be vigilant and to keep processes under review. LightEn maintains a comprehensive set of compliance policies that are intended to address many of the risks it faces. ## **Going Concern** The Trustees have confidence in LightEn’s future relationship with the TCI Fund Management Ltd and future funding. On this basis, the Trustees believe LightEn will continue as a going concern for the foreseeable future, being at least 12 months from the date of approval of the financial statements and have therefore prepared the financial statements on the going concern basis. ## **Reserves** LightEn held £917,887 in reserves at the end of the financial period, these will be used to fund future grants, fellowships, and donations. The Trustees agree that they will hold three months of operational funds in reserve at all times. The amount of funds necessary to run LightEn and the reserves policy is reviewed at the same time as considering LightEn’s annual accounts. LightEn’s reserves are part of LightEn’s unrestricted funds that are freely available to spend on any of LightEn’s purposes once LightEn has met its commitments and carried out any planned expenditure. Reserves do not include restricted income funds (which may only be spent on a particular purpose) and/or endowment funds. ## **Statement of the Trustees’ Responsibilities** The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently - observe the methods and principles in the Charities SORP - make judgements and estimates that are reasonable and prudent - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements - prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and, hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The Trustees’ Report has been approved by the Trustees on 24 January 2024 and signed on their behalf by: Dr Kylie Hohn Co-founder and Trustee 20 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Administrative Details **Registered Name** LightEn Education Network **Other Working Name** LightEn **Registered Charity Number** 1198876 **Registered Office** 7 Clifford Street London W1S 2FT **Trustees** Dr Kylie Hohn Chole Skewes Jacob Skewes **Principal Officers** Dr Kylie Hohn (CEO) Vanessa Jeffery (Chief Communications & Media Officer) Heidi Whitfield (Chief Operating Officer & General Counsel) **Bankers** HSBC Bank plc 8 Canada Square London E14 5HQ **Solicitors** Maurice Turner Gardner LLP 15th Floor Milton House Milton Street London EC2Y 9BH ## **Auditor** Crowe U.K LLP 55 Ludgate Hill London EC4M 7JW **Objects** The objects of the CIO (the objects) are for the public benefit: (a) the advancement of education and the promotion of the moral or spiritual welfare or improvement of the community, in particular, but not exclusively through the establishment and funding of educational centres and workshops with a focus on spiritual and moral wellbeing; and (b) the promotion of such other purposes being exclusively charitable according to the law of England and Wales as the charity Trustees may from time to time determine. 21 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Independent Auditor’s Report to the Trustees of LightEn Education Network ## **Opinion** We have audited the financial statements of LightEn (‘the charity’) for the period ended 31 March 2023 which comprise the Statement of Financial Activities, Balance Sheet, Cashflow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of charity’s affairs as at 31 March 2023 and of its income and expenditure, for the period 9 May 2022 – 31 March 2023; - have been properly prepared in accordance with United Kingdom Generally ## **Other information** The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011 We have nothing to report in this regard. ## **Matters on which we are required to report by exception** ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or - sufficient and proper accounting records have not been kept by the; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the trustees’ responsibilities statement set out on page 20, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of 22 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s responsibilities for the audit of the financial statements** We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Acts and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. ## **Extent to which the audit was considered capable of detecting irregularities, including fraud** Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR), Taxation legislation and Employment legislation. Auditing standards limit the required audit procedures to identify noncompliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and Trustees about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. ## **Use of our report** This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. **Crowe U.K. LLP** Statutory Auditor London 31 January 2024 Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006 23 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Statement of financial activities for the period ended 31 March 2023 |Note|4,850,192
**4,850,192**
3,932,305
**3,932,305**
**917,887**
917,887
**917,887**
Unrestricted funds
Period from 9
May 2022 to
31 March 2023
£
Total funds
Period from 9
May 2022 to
31 March 2023
£
4,850,192
**4,850,192**
3,932,305
**3,932,305**
**917,887**
917,887
**917,887**| |---|---| |**Income from:**
Donations and legacies
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Net movement in funds
**Total funds carried forward**
3
4.5|| The statement of financial activities includes all gains and losses recognised in the period. 24 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements Balance Sheet as at 31 March 2023 |Note|£|2023
£
917,887
**917,887**
917,887
**917,887**| |---|---|---| |**Current assets**
**Debtors**
**Cash at bank and in hand**
**Creditors: amounts falling due**
**within one year 10**
Net current assets
**Total net assets**
**Charity funds**
Unrestricted funds
**Total funds**
9
10
11|**27,637**
**1,706,295**
**1,733,932**
**(816,045)**|| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Dr Kylie Hohn Chair 25 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Statement of cash flows for the period ended 31 March 2023 ||Period from 9 May 2022
to 31 March 2023
£| |---|---| |**Cash fows from operating activities**|| |Net cash provided by operating activities|1,706,295| |**Cash fows from investing activities**|| |**Net cash provided by investing activities**|-| |**Cash fows from fnancing activities**|| |**Net cash provided by fnancing activities**|-| |**Change in cash and cash equivalents in the period**|**1,706,295**| |**Cash and cash equivalents at the end of the period**|**1,706,295**| 26 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements ## Notes to the financial statements ## **1. General information** LightEn Education Network (LightEn) was registered as a charitable incorporated organisation (CIO) with the Charity Commission in England and Wales on 9 May 2022 with registration number 1198876. The registered office is 7 Clifford Street, London, W1S 2FT. The functional and presentation currency of the charity is in GBP and are rounded to the nearest £. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a ‛true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‛true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Lighten Education Network meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **2.2 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For donations this is considered to be once a disbursement has been requested and approved by the funder. ## **2.3 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity’s objectives, as well as any associated support costs. Grants payable are recognised once an unconditional commitment has been made to the recipient. Where there is a substantive review between payment of grant instalments such that funding could be realistically withdrawn as a result then a liability is recognised only up until the point of that review. All expenditure is inclusive of irrecoverable VAT. ## **2.4 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.5 Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.6 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. ## **2.7 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 and subsequently measured at their settlement value. ## **2.8 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. ## **2.9 Going Concern** The Trustees are confident in the future relationship with TCI Fund Management Ltd and future funding. On this basis the Trustees believe LightEn will continue as a going concern for the foreseeable future, being at least 12 months from the date of approval of the financial statements and have therefore prepared the financial statements on the going concern basis. ## **2.10 Critical accounting judgments and key sources of estimation** **uncertainty** The Trustees have reviewed the accounting policies above and have determined there to be no critical accounting judgments and key sources of estimation uncertainty that could materially affect the carrying value of assets and liabilities. In preparing the financial statements the key judgements is considered to be the recognition of grant expenditure based on the timing of commitments and substantive reviews. ## **3. Income from donations and legacies** Unrestricted funds Total funds Period from Period from 9 May 2022 9 May 2022 to 31 March to 31 March 2023 2023 £ £ Donations **4,850,192 4,850,192** 27 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements |**4. Analysis of expenditure by activities**
Support costs
Period from
9 May 2022
to 31 March
2023
£
**377,363**
Activities undertaken
directly
Period from 9 May
2022 to 31 March
2023
£
**3,554,942**
Charitable activities|**4. Analysis of expenditure by activities**
Support costs
Period from
9 May 2022
to 31 March
2023
£
**377,363**
Activities undertaken
directly
Period from 9 May
2022 to 31 March
2023
£
**3,554,942**
Charitable activities|Total funds
Period from
9 May 2022
to 31 March
2023
£
**3,932,305**
Total funds
Period from
9 May 2022
to 31 March
2023
£
**3,251,606**
**98,444**
**10,000**
**194,892**
**3,554,942**|**Analysis of support costs**|Period from
9 May 2022
to 31 March
2023
£
246,690
33,128
11,642
61,381
3,226
2,328
349
2,976
3,335
234
63
8,952
3,059
377,363
Total funds
Period from
9 May 2022
to 31 March
2023
£
**246,690**
**33,128**
**11,642**
**61,381**
**3,226**
**2,328**
**349**
**2,976**
**3,335**
**234**
**63**
**8,952**
**3,059**
**377,363**|**5. Grants paid**| |---|---|---|---|---|---| ||||||School of Wholeness and Enlightenment (SoWE)
Asociación Alquimia Interior España (ZRSOC)
TCCHE Ltd
Al Noor One
CoreLight| ||**377,363**||Staf costs
Accountancy Fees
Professional Fees
Legal Fees
Insurance
IT Costs
Telephone & Internet
Printing & Stationery
Staf Training
Travel Costs
Bank Fees
Publication Costs
Foreign Exchange Loss||| |**Analysis of direct costs**|Period from
9 May 2022
to 31 March
2023
£||||| |Grants
Fellowships to individuals
Donations
Educational content expenditure|3,251,606
98,444
10,000
194,892||||| ||3,554,942||||| ||||||| ## **Al Noor One** A community committed to making spiritual education accessible by promoting spiritual wellbeing and tolerance within the Arabic-speaking community and fostering the evolution of consciousness. 28 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements **----- Start of picture text -----**
CoreLight The number of employees whose employee benefits 10. Creditors: Amounts falling due within one year
A non-profit organisation facilitating positive global change by fostering inner (excluding employer pension costs) exceeded £60,000 was:
peace amongst individuals through the publication of its founders’ seminal
2023
works and outer peace through humanitarian service.
Period from 9 May 2022 to 31 March £
2023
No. Trade creditors 44,903
6. Auditors’ remuneration
In the band £70,001 £80,000 1 Amounts owed to connected company (see note 16) 344,161
Period from 9 May 2022 to 31 March
In the band £80,001 £90,000 1 Other taxation and social security 14,129
2023
£
Accruals 84,689
During the year, emoluments received by key management personnel
Fees payable to the Charity’s auditor for the audit 19,500
(comprising Chief Operating Officer and Chief Communications & Media Officer)
Grants payable 328,163
of the Charity’s annual accounts (exc VAT) was £181,100.
816,045
8. Trustees’ remuneration and expenses
During the period, no Trustees received any remuneration
7. Staff costs
or other benefits.
11. Statement of funds
Period from 9 May 2022 to 31 March During the period ended 31 March 2023, no Trustee expenses
2023 have been incurred.
£
Income Expenditure Balance at
£ £ 31 March 2023
Wages and salaries 211,205 £
9. Debtors
Social security costs 26,939 Unrestricted funds
General Funds 4,850,192 (3,932,305) 917,887
Contribution to defined contribution pension schemes 8,546 2023
£
246,690
Due within one year
Other debtors 12,272
The average number of persons employed by the Charity Prepayments and accrued income 15,365
during the period was as follows:
27,637
Period from 9 May 2022 to 31 March
2023
No.
Employees 6
**----- End of picture text -----**
29 Introduction Mission Grant programme Spiritual education platform Financial review Looking ahead Strategic Report Auditor’s Report Financial statements |Period from
9 May 2022
to 2023
£
**917,887**
(27,637)
816,045
**1,706,295**
**12. Analysis of net assets between funds**
Unrestricted funds
2023
£
**1,733,932**
**(816,045)**
**917,887**
Current assets
Creditors due within one year
**Total**
Total funds
2023
£
**1,733,932**
**(816,045)**
**917,887**
**Reconciliation of net movement in funds to net cash infow**
**from operating activities**
Net income for the period (as per Statement of Financial Activities)
**Adjustments for:**
Increase in debtors
Increase in creditors
**Net cash provided by operating activities**|**14. Analysis of cash and cash equivalents**
2023
£|**14. Analysis of cash and cash equivalents**
2023
£| |---|---|---| ||Cash in hand|**1,706,295**| ||**Total cash and cash equivalents**|**1,706,295**| ||**15. Analysis of changes in net debt**|Cash fows
£
At 31 March
2023
£| ||Cash at bank and in hand|**1,706,295**
**1,706,295**| |||**1,706,295**
**1,706,295**| ## **16. Related party transactions** ## **Transactions between connected entities** During the period, LightEn Network Ltd, a connected company, paid expenditure on behalf of the Charity totalling £344,161. As of 31 March 2023, £344,161 was owed by LightEn Education Network to LightEn Network Ltd. LightEn Education Network did not initially have a bank account, so LightEn Network Ltd paid expenditure on the charity’s behalf. Dr Kylie Hohn, Trustee of LightEn Education Network is the sole director and shareholder of LightEn Network Ltd. ## **Other related party transactions** The donations to LightEn Education Network are from TCI Fund Management Limited. Sir Christopher Hohn is the Managing Director of TCI Fund, and husband of Dr Kylie Hohn (CEO and Trustee of LightEn). Donations received in the period to 31 March 2023 were £4,850,000. During the period, grants were awarded to the School of Wholeness and Enlightenment (SoWE). The grants in the period to 31 March 2023 totalled £1,740,027. During this period, Dr Kylie Hohn was a trustee of LightEn Education Network and a director of the School of Wholeness and Enlightenment. 30 L'ghtEn