Company number: 02032711 Charity Number: 296404
Lighthouse Arts and Training Ltd
Report and financial statements
For the year ended 31 March 2025
Lighthouse Arts and Training Ltd
Contents
For the year ended 31 March 2025
Trustee Report .......................................................................................................................... 1 Independent Examiner’s report ................................................................................................ 12 Statement of financial activities (incorporating an income and expenditure account) ................ 14 Balance sheet ......................................................................................................................... 15 Statement of cash flows ........................................................................................................... 16 Notes to the financial statements ............................................................................................. 17
Lighthouse Arts and Training Ltd
Trustees’ Annual report
For the year ended 31 March 2025
Trustee Report 2024-25
The Directors and Trustees present their report and accounts for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 of the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006, and "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 (FRS102) effective 1 January 2015.
Structure, Governance and Management
The charity is constituted as a company limited by guarantee, has no share capital and is therefore governed by a memorandum and articles of association. The directors of the company are also trustees for the purpose of charity law. The Charity is incorporated in England and Wales.
Members (Trustees) of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2025 was 9 (2024: 12).
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
Jennifer Lloyd - Chair Antony Gostyn * Tony Pilgrim Elliott Cushnie (resigned 1 July 2025) Michael Cole Sarah Lee (resigned 16 January 2025) Rebecca Groves Laura Wade Polly Wright
- Financial SubCommittee member
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Lighthouse Arts and Training Ltd
Trustees’ Annual report
For the year ended 31 March 2025
Trustees are recruited either at the invitation of the Directors, or by selection through an opencall and application process. New appointments are based on an evaluation of current board needs, and made with a view to ensuring the board has the appropriate skills and experience relevant to Lighthouse’s mission and objectives. New trustees are given formal induction training and provided with an induction pack, which includes information on governance, good practice, legal obligations, the Memorandum and Articles of Association and current business plan. None of the trustees and directors has any beneficial interest in the company.
Organisational Structure
During the year 2024-5 the Board of Trustees comprised nine members. Trustees meet quarterly with the Financial Sub Committee meeting monthly to review the accounts. Coming from a range of professional backgrounds relevant to the work of the charity, they are responsible for the strategic direction and policy of the charity. They also ensure that the charity fulfils its objectives and complies with the requirements of the Charities Commission.
The day-to-day management is delegated to the Executive Team (Alli Beddoes: Artistic Director/CEO and Emma Wickham: Head of Operations & Special Projects), to ensure that the charity delivers the services of the charity, for fundraising, for the day-to-day operational management of the premises and the supervision of the staff team.
Pay and Remuneration of Key Management Personnel
The pay of the senior staff is reviewed annually, with salaries benchmarked against pay levels in other organisations of a similar nature and size.
Risk Management
Economic and political factors nationally and internationally continue to cause uncertainty, but Business Planning is reviewed on a regular basis. External risks to income are reviewed regularly as part of the development and updating of the annual budget, and contingency plans are in place to deal with funding changes.
Key to the management of financial risk is a regular review of available funds to settle debts as they fall due, regular liaison with the bank, and active management of trade debtor and creditor balances to ensure sufficient working capital for the charity. Internal control risks are minimised by the implementation of procedures for the authorisation of all transactions and projects. Systems are in place to ensure compliance with the health and safety of employees, volunteers, clients, tenants and visitors, and all staff and volunteers are subject to CRB/DBS checks where necessary. Risks are managed by ensuring robust policies and procedures are in place, and by regular training for staff working in these operational areas.
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Lighthouse Arts and Training Ltd
Trustees’ Annual report
For the year ended 31 March 2025
Further risks identified include:
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Further cuts to public funding: Mitigation - Monitor progress on a monthly basis and adjust forward planning and allocation of resources accordingly.
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Low success rate in securing support from funders (public, Trusts & Foundations): Mitigation - Refine and improve strategic approach to fundraising; ensure applications are targeted to funders whose objectives align with our core values and that funders are thoroughly researched. Increase the number of applications submitted and bring in external fundraising support where appropriate.
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Financial instability due to unexpected building maintenance costs: Mitigation - Maintain a dedicated building maintenance reserve fund; regularly assess and budget for maintenance needs; and obtain appropriate insurance coverage to protect against unforeseen expenses.
Oversight and governance are maintained through the Senior Management Team's weekly meeting to review the risk register, ensuring that emerging risks are identified and addressed promptly. Additionally, Lighthouse reports to the Trustees monthly, providing transparency, accountability, and opportunities for strategic input at the Board level.
Public Benefit Statement
We confirm that, under the terms of section 17(5) of The Charities Act 2011, we have complied with our duty to have due regard to the public benefit guidance as published by The Charity Commission.
All our charitable activities, highlighted in the report below, are undertaken in furtherance of our charitable objects and for the public benefit.
Objects of the charity, principal activities and organisation of our work
The charity's objective and principal activity is to promote and encourage art and media culture through training, education, production, exhibition, commissions and networking.
Lighthouse is a leading contemporary arts and digital culture organisation that works to create the best opportunities possible for artists, filmmakers and other creative practitioners to develop, innovate and create. Our commissions, development programmes, exhibitions and events aim to inspire and excite audiences, whilst creating opportunities for people to participate and connect with new ideas and one another.
Working with a wide range of partners from the creative industries, the public sector and education, we have established a strong reputation for designing and delivering high quality initiatives for established and emerging professionals and young people. We aim to increase skills in, enjoyment of and engagement with, contemporary art, film and technology, and to provide pathways into further education and the creative industries.
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Lighthouse Arts and Training Ltd
Trustees’ Annual report
For the year ended 31 March 2025
Located in central Brighton, our current premises have been in operation since 2006, successfully providing exhibition and events space, training rooms, offices and hire-able facilities for private and public use.
Lighthouse has a significant asset in owning premises for its own use and for commercial income generation, providing increased self-sustainability. Since 2007 we have had full occupancy of the lettable units. We have long-term tenants and a loyal and growing client base, with excellent feedback regularly received regarding our venue and the service we provide. A successful programme of exhibitions, events, talks, screenings and workshops has been delivered within the venue across the year.
Arts Council England removed its legal charge over the building from the Land Registry in 2013, due to their satisfaction with our use of the Capital grant for the purchase of the premises in 2006. As such, there is no longer a restriction on the title to the premises. During the year to 31 March 2025, the Trustees carried out a review and are considering seeking a sale of the building, which is presented in this document at cost in the financial statements, to release assets for future charitable work.
Core Programme:
Talent & Professional Development
Lighthouse Young Creatives (LYC) Showcases – April 2024 & March 2025
Delivered two vibrant public showcases presenting the work of young creatives aged 16–25, featuring a rich mix of short films, photography, music videos, VR installations, writing, and live performances. These events celebrated the creativity and growth of the LYC cohort and marked the culmination of their six-month development journey.
Lighthouse Young Creatives Showcase at Phoenix Art Space (April 2024)
BLOOM was the culminating exhibition of the third cohort of Lighthouse Young Creatives (LYC), held at Phoenix Art Space in April 2024. This vibrant showcase featured new work from 16 emerging artists aged 16–25, spanning film, photography, poetry, performance, sound, and installation. Each piece reflected months of development, collaboration, and experimentation, touching on themes of growth, identity, healing, joy, and community.
Lighthouse Young Creatives Showcase (March 2025)
Beyond the Barrier was a dynamic group exhibition by the 2024–25 LYC cohort, exploring themes of identity, self-expression, media, nature, and more. The show featured an eclectic mix of artistic forms, from games and VR to drag and poetry demonstrating the bold creativity and diverse perspectives of Brighton’s emerging artists.
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Lighthouse Arts and Training Ltd
Trustees’ Annual report
For the year ended 31 March 2025
The showcases offered a deeply personal and powerful expression of the artists’ journeys, with works addressing topics such as gender, race, grief, and mental health. A live performance night brought together friends, family, and sector professionals, further amplifying the voices and visions of the young creatives. These showcases stand as a powerful testament to the transformative impact of youth-led creative development, supported by partners including the Henry Smith Foundation, Chalk Cliff Trust and Phoenix Art Space.
Future Creative Leaders (FCL) – Pilot Year
Launched a groundbreaking year-long paid leadership programme supporting young people from underrepresented backgrounds to reimagine cultural leadership. Participants co-curated exhibitions, engaged in governance training through participation in Board meetings, and creatively documented their learning. The pilot culminated in a final public showcase of their impact and vision for the future of the creative sector.
Learning & Participation
Neolithic Cannibals – Brighton Festival - May 2024
A socially engaged sound art exhibition created with young people from Whitehawk and artist Simon James. Inspired by Neolithic heritage and modern soundscapes, this immersive project reimagined Whitehawk Hill as a space of listening and celebration. The exhibition spotlighted local voices and transformed Lighthouse into a space of ritual, memory, and sound activism.
Open Sessions Series
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Open Session #19: Rap, Home & Hope – A dialogue with journalist Aniefiok ‘Neef’ Ekpoudom and FCLs Elsa and Dred, exploring British music culture and creative identity.
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Open Session #20: Threads of History – Hosted by artist-in-residence Tosin Adeosun, this session examined African fashion heritage, archiving practices, and her work on the African Style Archive.
Partnerships & Exhibitions
Lost Memories by Gary Thomas – April 2024
A deeply personal installation reflecting the emotional landscape of caregiving and dementia, combining diary entries and real-life phone calls. This moving work gave voice to the oftenunseen experiences of carers, fostering empathy and recognition.
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Lighthouse Arts and Training Ltd
Trustees’ Annual report
For the year ended 31 March 2025
Youth Takeover: Archiving Our Stories – Phoenix Art Space
Organised by FCLs, this Open Session featured expert speakers exploring how creatives document their work and legacy. The event promoted intergenerational knowledge exchange and celebrated grassroots archiving as a tool for empowerment and representation.
We, The Change – Summer 2024 & Spring 2025
FCLs took their creative activism to the streets of Brighton through a collaboration with BUILDHOLLYWOOD. This bold billboard campaign turned public space into a platform for dialogue, showcasing provocative visual statements across the city.
Artist Residencies
A Picture That Never Fades – Grant Family Residency (September 2024)
A multi-generational artist residency curated by Green Ray Gallery and programmed by FCLs, exploring memory, family, and collective creativity through collaborative work developed onsite at Lighthouse.
African Style Archive – Tosin Adeosun Residency
Fashion historian Tosin Adeosun, supported by FCLs and doctoral researcher Fez Sibanda, deepened her research into African sartorial heritage. The residency focused on building the digital infrastructure of the African Style Archive, preserving underrepresented fashion histories for future generations.
Parting Clouds – Esther McElwee Residency
As part of the Lighthouse Project Space residency programme, artist Esther McElwee explored new approaches to presenting audio-visual installations. Merging digital and physical animation, Esther’s work captures the awe of everyday moments. During the residency, she developed the audio-reactive installation Parting Clouds , in collaboration with harpist Eva Lunny. The residency offered time and space for technical and material experimentation, culminating in a public exhibition of the work.
These residencies were proudly programmed by our Future Creative Leaders (FCL), reflecting their commitment to supporting innovative, cross-disciplinary practice.
Principal Funding Sources
Lighthouse's funding comes from a diverse range of sources. Since the loss of Arts Council Portfolio funding, we have had to diversify the funding to ensure the longevity of Lighthouse. In 2023-24 the funding sources include:
- Income from office rentals and venue hire.
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Lighthouse Arts and Training Ltd
Trustees’ Annual report
For the year ended 31 March 2025
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Project funding from institutions and partners such as Henry Smith Foundation, Artfund, Chalk Cliff Trust and Sussex Community Trust.
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We increased our community fundraising endeavours in this financial year, raising support through a Christmas Fundraiser and Silent Auction and taking part in the Big Give.
Investment Policy
Due to the current low interest rates, there have been few investment opportunities over the past year, as there has been such little return available on investment during 2024-25. The Board of Trustees will continue to review opportunities available to generate interest on a regular basis.
Financial Review
For the financial year ending 31 March 2025 the charity’s total income was £380,807 (2024: £477,183). The total expenditure for the year was £508,394 (2024: £531,793) resulting in net expenditure of £127,587 (2024 net expenditure: £54,610).
Net assets are £1,685,950 (2024: £1,813,537) of which £1,673,710 (2024: £1,779,891) represents unrestricted reserves. Current assets are £66,206 (2024: £241,579) of which £41,270 (2024: £208,638) is cash in the bank.
Reserves Policy
The Board of Trustees has reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission and in light of the main risks to the organisation.
The Board of Trustees believe that the charity should hold financial reserves because it has no endowment funding and is largely dependent on short-term project funding and rental and premises hire income, which are subject to fluctuation.
The Board has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be no less than six months of expenditure, calculated and reviewed annually. Since 2013, the charity has set the reserves target for 6 months of 'operating' expenditure, to reflect the essential and unavoidable costs of maintaining core artistic and business activity for the organisation. Operating expenditure comprises budgeted costs for core programme, business overheads, and core salaries, and is calculated at a ratio of 50% of total 'overall' expenditure.
This level of reserve would ensure that the charity could run efficiently and meet the needs of beneficiaries in the event of delays in receipt of grants, shortfalls in rental or other unforeseen circumstances.
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Lighthouse Arts and Training Ltd
Trustees’ Annual report
For the year ended 31 March 2025
Based on the current budget, six months of operating expenditure is calculated at £258,388. Current reserves are below this target, and the Trustees are committed to building reserves over time to meet the agreed policy level.
To support the reserves policy and provide a safeguard against income volatility, the Board has also resolved to engage sales agents to sell the charity’s premises at 28 Kensington Street.
Going Concern Statement from the Board of Trustees
"Going concern" is the assumption that an organisation will continue to operate for the foreseeable future, meeting its financial obligations and sustaining its activities. In this case, the Lighthouse Board of Trustees prepared the accounts on a going-concern basis, supported by economic planning, securing loan finance, and property sales to ensure long-term viability and stability.
In consultation with the Financial Subcommittee, the Lighthouse Board of Trustees has resolved that preparing the accounts on a going-concern basis is appropriate.
A financial forecast and cashflow projection has been completed. To mitigate the uncertainty of future grant income, the Board has approved two actions:(1) To obtain short term loan finance secured on the Kensington Street building and (2) to engage sales agents to sell the charity’s premises at 28 Kensington Street. The Board of Trustees will review our reserves policy following this development.
The charity successfully secured a £150,000 loan from Charity Bank, with funds confirmed in May 2025. In addition, we received a grant from Charity Bank to support our 2025–26 youth leadership programme, as well as a Reach grant to help the team and trustees plan effectively for the charity’s future.
The Trustees remain confident that, through these actions, Lighthouse will maintain financial stability and long-term viability, allowing it to sustain its mission and impact within the community.
Future plans
During the 2025/26 financial year, Lighthouse intends to proceed with the sale of its property at Kensington Street. The proceeds of this transaction will be applied in the first instance to repay the bridging loan from Charity Bank, with the balance held in more accessible financial assets rather than being tied up in fixed property. While this will bring to an end the charity’s regular income stream from tenants, the organisation will also be able to restructure its cost base and focus entirely on its charitable mission, rather than building management activities. The Board of Trustees and senior management will utilise this transitional period to develop a comprehensive
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Lighthouse Arts and Training Ltd
Trustees’ Annual report
For the year ended 31 March 2025
and sustainable strategy for the organisation’s long-term future. Central to this planning will be the prioritisation of Lighthouse’s charitable aims and mission, particularly its work with the arts, young people, and education, and consideration of the most prudent and effective means of investing the released funds to ensure ongoing financial stability, while safeguarding and enhancing Lighthouse’s capacity to deliver meaningful impact in these areas. The Lighthouse team and Board of Trustees will make all decisions in line with Charity Commission requirements and good governance practices.
Statement of Responsibilities of the Trustees
The Trustees are required by law to prepare financial statements for each financial year, which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements the trustees are required to:
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a) select suitable accounting policies and apply them consistently;
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b) make judgements and estimates that are reasonable and prudent;
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c) state whether the policies adopted are in accordance with the Companies Act 2006 and with applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements;
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d) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation;
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e) observe the methods and principles in the Charities SORP
The Board of Trustees is responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Board of Trustees is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention of fraud and other irregularities.
Members of the Board of Trustees
Members of the Board of Trustees, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 2.
In accordance with company law, as the company's directors, we certify that: So far as we are aware, there is no relevant audit information of which the company's auditors are unaware; and as the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity's independent reviewers are aware of that information. Independent Examination
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Lighthouse Arts and Training Ltd
Trustees’ Annual report
For the year ended 31 March 2025
A resolution to appoint Sayer Vincent LLP as Independent Examiners was proposed on 28 November 2025
Approval
Approved by the board of Directors & Trustees signed on its behalf
Jennifer Lloyd (Chair) Lighthouse Arts and Training Ltd
Date 3 December 2025
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Independent examiner’s report
to the trustees of
Lighthouse Arts and Training Ltd
I report to the trustees on my examination of the accounts of Lighthouse Arts and Training Ltd for the year ended 31 March 2025.
This report is made solely to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for my examination, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the charity trustees of the Company you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’) .
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 examination of the Company’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011 (‘the 2011 Act’).
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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2 The accounts do not accord with those records; or
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3 The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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4 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; or
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Independent examiner’s report
to the trustees of
Lighthouse Arts and Training Ltd
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Name: Judith Miller FCA Address: Sayer Vincent LLP, 110 Golden Lane, London, EC1Y 0TG Date: 8 December 2025
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Lighthouse Arts and Training Ltd
Statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 March 2025
| For theyear ended 31 March 2025 | |||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | ||||||
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
| Note | £ | £ | £ | £ | £ | £ | |
| Income from: | |||||||
| Donations | 2 | 8,706 | 20,678 | 29,384 | 20 | 145,308 | 145,328 |
| Charitable activities | 3 | - | 54,430 | 54,430 | - | 79,870 | 79,870 |
| Other trading activities | 4 | 296,993 | - | 296,993 | 251,985 | - | 251,985 |
| Total income | 305,699 | 75,108 | 380,807 | 252,005 | 225,178 | 477,183 | |
| Expenditure on: | |||||||
| Raising funds | 5 | 27,072 | - | 27,072 | 102,720 | - | 102,720 |
| Charitable activities | |||||||
| Talent & Professional Development | |||||||
| including talks, podcasts & showcase | |||||||
| events | 5 | 212,539 | 96,514 | 309,053 | 58,057 | 197,058 | 255,114 |
| Other trading activities | 5 | 172,269 | - | 172,269 | 173,959 | - | 173,959 |
| Total expenditure | 411,880 | 96,514 | 508,394 | 334,735 | 197,058 | 531,793 | |
| 6 | |||||||
| Net (expenditure) / income for the year | (106,181) | (21,406) | (127,587) | (82,730) | 28,120 | (54,610) | |
| Transfers between funds | - | - | - | (5,012) | 5,012 | - | |
| Net movement in funds | 6 | (106,181) | (21,406) | (127,587) | (87,742) | 33,132 | (54,610) |
| Reconciliation of funds: | 16a | ||||||
| Total funds brought forward | 1,779,891 | 33,646 | 1,813,537 | 1,867,633 | 514 | 1,868,147 | |
| Total funds carried forward | 1,673,710 | 12,240 | 1,685,950 | 1,779,891 | 33,646 | 1,813,537 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 16a to the financial statements.
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Lighthouse Arts and Training Ltd
Company no. 02032711
Balance sheet
As at 31 March 2025
| As at 31 March 2025 | ||||
|---|---|---|---|---|
| Note Fixed assets: 11 Current assets: 12 Liabilities: 13 16a Cash at bank and in hand Tangible assets Debtors Restricted income funds Unrestricted income funds Creditors: amounts falling due within one year Net current assets Total net assets Total charity funds The funds of the charity: |
£ 24,936 41,270 |
2025 £ 1,700,292 |
£ 32,941 208,638 |
2024 £ 1,658,484 |
| 1,700,292 (14,342) |
1,658,484 155,053 |
|||
| 66,206 (80,548) |
241,579 (86,526) |
|||
| 1,685,950 | 1,813,537 | |||
| 12,240 1,673,710 |
33,646 1,779,891 |
|||
| 1,685,950 | 1,813,537 |
The opinion of the directors is that the company is entitled to the exemptions conferred by Section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge the following responsibilities:
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(i) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
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(ii) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
Approved by the trustees on 3 December 2025 and signed on their behalf by
Jennifer Lloyd Chair
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Lighthouse Arts and Training Ltd
Statement of cash flows
For the year ended 31 March 2025
| For the year ended 31 March 2025 | |
|---|---|
| Cash flows from operating activities Net (expenditure) for the reporting period (as per the statement of financial activities) Depreciation charges Decrease / (Increase) in debtors (Decrease) / Increase in creditors Net cash (used in) operating activities Cash and cash equivalents at the end of the year Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Net cash (used in) investing activities Cash flows from investing activities: Purchase of fixed assets |
£ £ £ £ (127,587) (54,610) 25,270 15,728 8,005 (9,093) (5,978) 5,214 (100,290) (42,761) (67,078) (35,147) (67,078) (35,147) (167,368) (77,908) 208,638 286,546 41,270 208,638 2025 2024 |
| (67,078) | |
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Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
1 Accounting policies
a) Statutory information
Lighthouse Arts and Training Ltd is a charitable company limited by guarantee and is incorporated in England and Wales.
The registered office address is 28 Kensington Street, Brighton, BN1 4AJ.
b) Basis of preparation
The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.
c) Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
d) Going concern
In consultation with the Financial Subcommittee, the Lighthouse Board of Trustees has resolved that preparing the accounts on a going-concern basis is appropriate.
A financial forecast and cashflow projection has been completed. To mitigate the uncertainty of future grant income, the Board has approved two actions:(1) To obtain short term loan finance secured on the Kensington Street building and (2) to engage sales agents to sell the charity’s premises at 28 Kensington Street. The Board of Trustees will review our reserves policy following this development.
The charity successfully secured a £150,000 loan from Charity Bank, with funds confirmed in May 2025. In addition, we received a grant from Charity Bank to support our 2025–26 youth leadership programme, as well as a Reach grant to help the team and trustees plan effectively for the charity’s future.
The Trustees remain confident that, through these actions, Lighthouse will maintain financial stability and long-term viability, allowing it to sustain its mission and impact within the community.
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Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
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1 Accounting policies (continued)
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e) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
- f) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
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g) Interest receivable
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Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
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h) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
- i) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
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Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
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Expenditure on charitable activities includes the costs of exhibitions and other activities undertaken to further the purposes of the charity and their associated support costs
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Other expenditure represents those items not falling into any other heading
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
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Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
- 1 Accounting policies (continued)
j) Allocation of support costs
- Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.
Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.
Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.
k) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Leasehold Property 0.8% straight line Leasehold Improvements 10% straight line Office Equipment 20% straight line Furniture 20% straight line Technical Equipment 25% straight line Bar Equipment 20% straight line
l) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
m) Cash at bank and in hand
Cash at bank and cash 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.
n) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
o) 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.
19
Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
2 Income from donations
| For the year ended 31 March 2025 2 Income from donations |
2025 | |||||
|---|---|---|---|---|---|---|
| Unrestricted £ Donations 8,706 Sponsorship - - - - - 8,706 3 Unrestricted £ - - - - - - - 4 Unrestricted £ 74,753 220,240 2,000 - 296,993 Henry Smith Art Fund Room hire, catering and bar income Grants receivable for charitable activities: Chalk Cliff Brighton Festival Sussex Community Ace Lottery Income from other trading activities Other income Rental income Consultancy income Arts Council England Grants receivable for core activities: ACE NPO Core Grant Access Reach Grant Core funding - Grants to support staff costs Income from charitable activities |
Unrestricted £ 8,706 - - - - - |
£ 2,107 6,331 12,240 - - - Restricted |
2025 Total £ 10,813 6,331 12,240 - - - |
Unrestricted £ 20 - - - - - |
£ - 29,815 - 68,313 44,550 2,630 Restricted |
2024 Total £ 20 29,815 - 68,313 44,550 2,630 |
| 8,706 | 20,678 | 29,384 | 20 | 145,308 | 145,328 | |
| £ 4,000 2,430 - 5,000 42,000 1,000 Restricted |
2025 Total £ 4,000 2,430 - 5,000 42,000 1,000 |
Unrestricted £ - - - - - - |
£ 11,000 - 21,870 5,000 42,000 - Restricted |
2024 Total £ 11,000 - 21,870 5,000 42,000 - |
||
| - | 54,430 | 54,430 | - | 79,870 | 79,870 | |
| £ - - - - Restricted |
2025 Total £ 74,753 220,240 2,000 - |
Unrestricted £ 47,136 200,639 1,000 3,211 |
£ - - - - Restricted |
2024 Total £ 47,136 200,639 1,000 3,211 |
||
| 296,993 | - | 296,993 | 251,985 | - | 251,985 |
20
Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
5a Analysis of expenditure (current year)
| Analysis of expenditure (current year) | |||||||
|---|---|---|---|---|---|---|---|
| Staff costs (Note 7) Programme costs Room hire, catering and bar expenses Building management costs Marketing and communications Professional fees Depreciation Office costs Support costs Governance costs Total expenditure 2025 Total expenditure 2024 |
Raising funds £ 9,095 - - - 7,682 - - - |
Charitable activities | Other trading activities 71,781 - 24,374 76,114 - - - - |
Governance costs £ 29,546 - - - - 25,150 - - |
Support costs £ 21,446 - - - - 9,237 25,270 17,172 |
2025 Total £ 245,872 77,523 24,374 76,114 7,682 34,387 25,270 17,172 |
2024 Total £ 286,243 72,274 14,331 96,185 10,712 21,822 15,726 14,500 |
| Talent & Professional Development, including Talks, Podcasts & Showcase events £ 114,004 77,523 - - - - - - |
|||||||
| 16,777 5,890 4,405 |
191,527 67,235 50,291 |
172,269 - - |
54,696 - (54,696) |
73,125 (73,125) - |
508,394 - - |
531,793 - - |
|
| 27,072 | 309,053 | 172,269 | - | 508,394 | 531,793 | ||
| 102,720 | 255,114 | 173,959 | - | - |
21
Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
- 5b Analysis of expenditure (prior year)
| Analysis of expenditure (prior year) the year ended 31 March 2025 |
||||||
|---|---|---|---|---|---|---|
| Staff costs (Note 7) Programme costs Room hire, catering and bar expenses Building management costs Marketing and communications Professional fees Depreciation Office costs Support costs Governance costs Total expenditure 2024 |
Raising funds £ 53,709 - - - 10,712 - - - |
Charitable activities | Other trading activities 63,443 - 14,331 96,185 - - - - |
Governance costs £ - - - - - 21,822 - 101 |
Support costs £ 81,368 - - - - - 15,726 14,399 |
2024 Total £ 286,243 72,274 14,331 96,185 10,712 21,822 15,726 14,500 |
| Talent & Professional Development, including Talks, Podcasts & Showcase events £ 87,723 72,274 - - - - - - |
||||||
| 64,421 32,005 6,293 |
159,997 79,488 15,630 |
173,959 - - |
21,923 - (21,923) |
111,493 (111,493) - |
531,793 - - |
|
| 102,720 | 255,114 | 173,959 | - | - | 531,793 |
22
Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
- 6 Net (expenditure) / income for the year
This is stated after charging / (crediting):
| This is stated after charging / (crediting): | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Depreciation | 25,270 | 15,726 |
| Auditor's remuneration / Independent Examiner's Fee (excluding VAT): | ||
| Independent Examination | 3,250 | 3,500 |
| Other services | 2,000 | 1,500 |
| Foreign exchange gains or losses | - | 18 |
- 7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
Staff costs were as follows:
| Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Staff costs were as follows: |
||
|---|---|---|
| Salaries and wages Social security costs Employer’s contribution to defined contribution pension schemes Freelance staff Other forms of employee benefits |
2025 £ 206,008 12,724 6,113 19,387 1,640 |
2024 £ 209,592 12,903 5,349 44,736 13,663 |
| 245,872 | 286,243 |
No employee earned more than £60,000 during the year (2024: nil).
The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £43,876 (2024: £47,906).
The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2024: £nil). No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).
Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2024: £13) incurred by no (2024: one) member relating to attendance at meetings of the trustees.
8 Staff numbers
The average number of employees (head count based on number of staff employed) during the year was 8.5 (2024: 10).
Staff are split across the activities of the charity as follows (full time equivalent basis):
| Staff are split across the activities of the charity as follows (full time equivalent basis): | ||
|---|---|---|
| Administrative Direct charitable work |
2025 No. 7.5 1 |
2024 No. 9 1 |
| 8.5 | 10 |
- 9 Related party transactions
During 2024/25 the charity engaged external finance support through Friendly Finance Services Ltd. Trustee, Michael Cole, is a Director of Friendly Finance Services and a total of £16,500 was charged in respect of services provided during the year (2024: £nil). Services are provided on an arms-lengh basis and at fair market value.
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
10 Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
23
Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
| For the year ended 31 March 2025 | |||||||
|---|---|---|---|---|---|---|---|
| 11 At the end of the year Net book value At the end of the year At the start of the year Charge for the year At the start of the year Additions in year Depreciation Tangible fixed assets Cost At the end of the year At the start of the year |
Leasehold Property £ 1,883,122 - |
Leasehold Improvements £ 31,500 67,078 |
Office equipment £ 146,838 - |
Furniture £ 20,309 - |
Technical Equipment £ 62,003 - |
Bar Equipment £ 3,590 - |
Total £ 2,147,362 67,078 |
| 1,883,122 | 98,578 | 146,838 | 20,309 | 62,003 | 3,590 | 2,214,440 | |
| 262,849 15,065 |
929 8,758 |
146,837 1 |
20,308 1 |
54,366 1,444 |
3,589 1 |
488,878 25,270 |
|
| 277,914 | 9,687 | 146,838 | 20,309 | 55,810 | 3,590 | 514,148 | |
| 1,605,208 | 88,891 | - | - | 6,193 | - | 1,700,292 | |
| 1,620,273 | 30,571 | 1 | 1 | 7,637 | 1 | 1,658,484 |
All of the above assets are used for charitable purposes.
12 Debtors
| Debtors | ||
|---|---|---|
| Trade debtors Prepayments Creditors: amounts falling due within one year Accruals Deferred income (note 14) Taxation and social security Tenants deposit monies Rent deposit Other creditors Trade creditors |
2025 £ 11,287 13,649 - |
2024 £ 11,275 13,649 8,017 |
| 24,936 | 32,941 | |
| 2025 £ 20,810 564 6,788 30,511 6,300 15,575 |
2024 £ 45,302 - 2,613 32,611 6,000 - |
|
| 80,548 | 86,526 |
- 13 Creditors: amounts falling due within one year
14 Deferred income
Deferred income comprises funds relating rent paid in advance from a tenant, and an insurance payout.
| Deferred income comprises funds relating rent paid in advance from a tenant, and an insurance payout. | ||
|---|---|---|
| Balance at the beginning of the year Amount released to income in the year Amount deferred in the year Balance at the end of the year |
2025 £ - - 15,575 |
2024 £ 22,500 (22,500) - |
| 15,575 | - |
24
Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
15a Analysis of net assets between funds (current year)
| For the year ended 31 March 2025 15a Analysis of net assets between funds (current year) |
|||
|---|---|---|---|
| 15b 16a Tangible fixed assets Net current assets Tangible fixed assets Net current assets Movements in funds (current year) Net assets at 31 March 2024 Net assets at 31 March 2025 Analysis of net assets between funds (prior year) |
Unrestricted £ 1,700,292 (26,582) |
Restricted £ - 12,240 |
Total funds £ 1,700,292 (14,342) |
| 1,673,710 | 12,240 | 1,685,950 | |
| Unrestricted £ 1,658,484 121,407 |
Restricted £ - 33,646 |
Total funds £ 1,658,484 155,053 |
|
| 1,779,891 | 33,646 | 1,813,537 | |
| Movements in funds (current year) | |||||
|---|---|---|---|---|---|
| Total restricted funds General funds Sussex Community Trust Brighton Festival Total funds Total unrestricted funds Access to work Grant Kickstart UoB internship Art Fund Henry Smith Restricted funds: Access Reach Fund Sponsorship Chalk Cliff Class Divide ACE Transition Fund |
At 1 April 2024 £ 244 21 249 - 33,132 - - - - - - - |
Income & gains £ - - - 12,240 - 42,000 6,331 5,000 2,430 1,000 2,107 4,000 |
Expenditure & losses £ (244) (21) (249) - (33,132) (42,000) (6,331) (5,000) (2,430) (1,000) (2,107) (4,000) |
Transfers £ - - - - - - - - - - - - |
At 31 March 2025 £ - - - 12,240 - - - - - - - - |
| 33,646 | 75,108 | (96,514) | - | 12,240 | |
| 1,779,891 | 305,699 | (411,880) | - | 1,673,710 | |
| 1,779,891 | 305,699 | (411,880) | - | 1,673,710 | |
| 1,813,537 | 380,807 | (508,394) | - | 1,685,950 |
The narrative to explain the purpose of each fund is given at the foot of the note below.
25
Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
16b Movements in funds (prior year)
| e year ended 31 March 2025 Movements in funds (prior year) |
|||||
|---|---|---|---|---|---|
| Total restricted funds General funds Total funds Restricted funds: Make the Ting UoB internship ACE Transition Fund Brighton Festival Total unrestricted funds Purposes of restricted funds Kickstart Access to work Grant Art Fund Henry Smith Arts Council England |
At 1 April 2023 £ 244 21 249 - - - - - - |
Income & gains £ - - - 44,550 71,730 23,819 68,313 5,766 11,000 |
Expenditure & losses £ - - - (11,418) (71,730) (23,819) (73,325) (5,766) (11,000) |
Transfers £ - - - - - - 5,012 - - |
At 31 March 2024 £ 244 21 249 33,132 - - - - - |
| 514 | 225,178 | (197,058) | 5,012 | 33,646 | |
| 1,867,633 | 252,005 | (334,735) | (5,012) | 1,779,891 | |
| 1,867,633 | 252,005 | (334,735) | (5,012) | 1,779,891 | |
| 1,868,147 | 477,183 | (531,793) | - | 1,813,537 | |
UoB intership - The University of Brighton paid internship fund was restricted to covering the PAYE costs for a student member of staff employed within the Communications team. The fund's allocation remained static, with no transfers or significant movements recorded in the current or prior financial year.
Kickstart Scheme - The Kickstart Scheme, a government initiative, provided funding to create new employment opportunities for individuals aged 16 to 24 who are on Universal Credit and at risk of long-term unemployment. This restricted fund was allocated to support administrative functions within the organisation. Like the UoB Internship fund, no transfers or significant movements occurred during the current or prior financial year.
Access to work Grant - This grant was provided to facilitate practical workplace support, including adjustments to assist a staff member in managing their work-related responsibilities and mental health. The fund was fully utilised for its intended purpose, with no notable movements or transfers recorded in the current or prior year.
Access Reach Fund - A grant to support the process of the bridging loan, which covers business planning, building survey & legal charges for Kensington Street, plus associated marketing costs.
Art Fund: Reimagine Workforce Grant - The Art Fund's Reimagine Workforce Grant supported organisational development initiatives. There were no other transfers or notable changes in the use of this fund.
Henry Smith Foundation - The Henry Smith Foundation is funding three iterations of the Lighthouse Young Creatives programme. The funding was exclusively allocated to support the programme's activities & staffing.
Sponsorship - funds received from local businesses to support Lighthouse Young Creatives.
Chalk Cliff - funds to support youth programme costs in Lighthouse Project Space.
Arts Council England - The When I Sound I Am Speaking project, funded by Arts Council England, was successfully delivered and completed in 2023. The funds were fully utilised for this purpose.
ACE Transition Fund - The Arts Council England Transition Programme was established to provide support during the 2022/23 period for National Portfolio Organisations and organisations previously supported through Business Plan funding that were unsuccessful in their applications to the 2023–26 Investment Programme. The fund helped transition towards a new operating model in a managed and orderly manner. No significant transfers or movements were recorded in either the current or prior financial year.
Make the Ting - The Make the Ting event was delivered in December 2023 as a collaborative partnership with The Old Market. Partnership fees and ticket revenue were allocated directly to Lighthouse. There were no significant transfers or movements for this fund in the current or previous financial year.
Sussex Community Trust - funds to support youth programme costs in Lighthouse Project Space.
26
Lighthouse Arts and Training Ltd
Notes to the financial statements
For the year ended 31 March 2025
- 16b Movements in funds (continued)
Class Divide - funds to support partnership for Brighton Festival
Brighton Festival - Brighton Festival funded two projects in our ongoing collaboration: Whose Anthem Is It Anyway? and Neolithic Cannibals for the 2023 and 2024 festival years. This fund supported both projects, and no significant transfers or movements were noted in either the current financial year or the previous year.
17 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
18 Post balance sheet events
Lighthouse signed a lease with Brighton and Hove City Council to use a space within New England House, New England Street, BN1 4GH. The lease began on 1 June 2024, and Lighthouse invested £51,859 to kit out the space so that it could be used for artist exhibitions in relation to Lighthouse charitable activities. The space was also available for hire to third parties to generate income.
In November 2024, serious fire risks were identified and in March 2025 the council agreed that a notice should be issued to tenants to vacate New England House so the site can be refurbished or redeveloped to address the fire risks. Lighthouse expects to leave New England House on 31st September 2025.
Lighthouse is in the process of requesting compensation from Brighton and House City Council to cover relocation costs and the initial amount invested in kitting out the space.
27