Registered number: 02441319
Charity number: 702314
THE FIVE LAMPS ORGANISATION
(A Company Limited by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Armstrongwatson.
Accountants, Business & Financial Aclvisers

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Detsils of the Companyy its Trustees and Advisers
Trustees. Report
Trustees. Responsibilities Statement
Independent Auditors, Report on the Financial Ststements
Consolidated Statement of Financial Activities
2-18
19
20-24
25
Consolidated Balance Sheet
26
Company Balance Sheet
Consolidated Statement of Cash Flows
27
28
Notes to the Financial Statements
29-57

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2022
Trustees
Patricia Chambers, Chair
Vivienne Holmes, VI￿ Chair
Jamie Houlders
Trevor Walson
Company reglstered
number
02441319
Charlty reglstered
number
702314
Reglstered offlce
Eldon Street
Thornaby
Slocklon on Tees
TS17 7DJ
Chlef executlve offlcer
Lisa Pickard
Independent audltors
Armstrong Watson Audit Limited
Chartered Accounlanls & Statutory Auditors
York House
Northallerton
North Yorkshire
DL6 2XQ
8ankers
Unity Trust Bank
4 Brindley Place
Birmingham
B12JB
Page 1

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2022
TRUSTEES RESPONSIBILITIES STATEMENT
The Trustees are pleased to present their Annual Report providing an overview of the period ending 31 sl March
2022120211221 and setting out plans for the future.
2.1 ACHIEVEMENTS AND PERFORMANCE
2.1.1 Overview
Five Lamps continued to experience the ongoing impacts of the Covid-19 pandemic during 2021122 as well as
sought lo ensure the Charity could recover and be sustainable for the future. In addition, the global economic
pressures added to the challenging national economic landscape have placed many of our ServI￿S under more
strain than ever before.
These Statements report a consolidated loss of £539,899 reducing the net asset value of the Charity 10 £75,229.
During the last quarter of the financial year to March 2022, the Directors of Five Lamps Trading Ltd IFLTI and
the Trustees entered into discussions with the Social Investment Lenders to address the financial impact
resulting in the delays incurred in 2021122 which it was accepted had a negative impact on the performance of
FLT in 2021122 as well as the charity. These discussions continued into the new financial year and were finally
concluded in December 2022. As a result, the holders of the Tranche B Loan Notes have agreed lo waiver the
interest charged for the financial years ending March 2021 and March 2022, lotalling £416,219. This interest
liability has been recorded in both the Five Lamps Trading fi'nancial statements and the consolidated Group
accounts in both 20211221£185,7951 and the prior year1£230,4251.
Had the agreements been reached prior to the end of the financial year the Trustees would be reporting a
consolidated loss of £488,962 as shown below, and positive net assets of £491,508.
FLT Accounts
2021122
2020121
Reported Loss for the financial year
Interest waived
Restated Loss for the financial year
(1,049,590)
185,795
863,795
(1,112,604)
230,425
882.179
Group Accounts (Charity)
2021122
2020121
Reported Loss for the financial year
Interesl waived
Restated Loss for the financial year
(539,899)
185,795
354,104
{456,894)
230,425
226,169
During 2021122, the Trustees changed the Corporate structure and delivery model lo better manage these risks
and ensure continuity of services for our customers and their changing needs.
The most significant change relates lo our wholty owned Limited Company with Shares, Five Lamps Trading
IFLTI Limited company number 08029251.This company files ils own Financial Statements but sits within the
Five Lamps Organisation., its trading activity is consolidated and included wlhin these Financial Statements and
Trustees report. Separate Directors, report and Financial Statements are filed for FLT. The negative nel asset
position within FLT has worsened In the year to £2,104,798 as a result of a pre-tax loss of £1,049,590. This is
due to three primary factors.. -
Page 2

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
In November 2021, the Trustees with support from our Social Investment Funders 'lnveslors', agreed lo
transfer all new personal lending activity into the Charity lo operate under the Financial Conduct
Authority IFCAI registration number 65611. New income into FLT ceased.
Cash balances were moved from FLT into Five Lamps Organisalion by means of an Upstreaming Loan
lo enable personal lending lo be delivered by the Charity.
Investor Interest and staff costs remained within the Trading Company.
As a result of these changes the Social Investment Funder Loan Notes activity combines FLT and a ringfenced
activity within charity. The aggregate of like for like comparison lo operating periods reported 2021122 income at
£882,600 and a loss before taxation of £896,600. This activity increased its provision for bad debts by £249,000
against a nel loan book of £2,000,494 and a negative net asset posib'on of £2,104,000.
Upslreaming was critical to the future delivery of affordable lending as a CDFI (Community Development
Finance Inslitutionl and to ensure Five Lamps remain viable into the future and is able to repay the loan notes at
a future dale. 11 does however make the presentation and year on year comparison of the Charities standalone
performance more complex. However, the Trustees present this as a Statement lo the consolidated accounts.
Whilst the FLT accounts will be filed with a worsening outlook, the consolidated accounts reflect the sum of all
activity and therefore present a like for like comparison.
2.1.2 Financial Review
The Slalement of Financial Activities for the year, the Balance Sheet as of 31 March 2022 and associated notes
are sel out on pages 27 to 57.
The total income for the year to 31 st March 2022 was £3,129,545 12020121- £4,225,694). Group nel assets
reduced from £615,127 10 £75,229 due lo a reported loss of £896,000 in our Investor funded activity as reported
above. The impact of post-year end Investor interest changes is also reported above.
Excluding the
aforementioned loss, the charity made a surplus of £96,101 compared to £344,290 in 2020121.
The Trustees, intention is to hold not less than £100,000 al any point in time in aC￿sSible and unrestricted cash
balances to ensure the Charity can manage ils activities and discharge ils operating liabilities in the event of a
significant drop in funding. Cash balances throughout 2021122 and in the intervening period be￿een filing these
accounts have remained above £100,000. This policy is monitored quarterly by the Trustees with the threshold
increased lo £200,000 to mitigate the risks associated with continued economic uncertainly.
2.2 STRUCTURE, GOVERNANCE AND MANAGEMENT
2.2.1 Oryanisational structure and decision making
In presenting the Trustee report and financial statements of the charitable company (the Charity) for the year
ended 31 March 2022, the Trustees hereby confirm that they comply with current slatulory requirements, the
Company's governing documents, and the provisions of the lalesl Statement of Recommended Practice ISORPI
'Accounling and Reporting by Charities. issued in March 2005. The legal and administrative information on page
1 forms part of this report.
2.2.2 structure. Governance and Management
The Five Lamps Organisation IFLOI is a Registered Charity 17023141 and Company Limited by Guarantee
124413191 The company was registered under a Memorandum of Association which established the objects and
powers of the charitable company and Ils Articles of Association. In the event of the company being wound up
members are required to contribute an amount not exceeding £1.
Five Lamps Trading Limited IFLTI {080292511 is a wholly owned trading subsidiary of The Five Lamps
Organisalion. FLT is a Limited Company by Shares.
The Directors of the FLT company are also charity trustees for the purposes of charity law and under the
company's articles are known as members of the Management Committee.
Page 3

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
The Trustees continuously review governing documents. The most recent formal amendment approved by the
Charity Commission was In December 2013 which provided for the extension of operations lo the whole of
England. Since October 2017, The Five Lamps Organisalion has also been registered with the offi￿ of the
Scottish Charity Regulator, under reference SC047839.
2.2.3 Charitable Objects
Our charitable objects provide for operations and charitable activities 'within England and Scotland, lo reflect the
geographic growth and diversity of the organisation and ils services. Our Objects promote for 'lhe benefit of the
public of urban or rural regeneration in areas of social and economic deprivation, within England and Scotland,
by all or any of the following means..
The relief of financial hardship among people living or working within England and Scotland by
providing such persons with goods andlor serVI￿S which they could not otherwise afford through lack
of means.
The prevention and relief of poverty by providing education, goods, and services lo individuals in need.
The relief of unemployment for the benefit of the public in such ways as may be thought fit,
including assistance lo find employment.
The advan￿ment of education, training or retraining particularly among socially, economically,
and financially excluded people and the provision of work experience for unemployed people.
The provision of fi'nancial assistance, technical assistance, business advice or consultancy in order
lo provide training and employability for unemployed people in cases of financial or other charitable
need through help in selling up their own business or to existing businesses.
The creation of training and employment opportunities by the provision of workspa￿, buildings, or land
for use on favourable terms.
The provision of housing for those who are in conditions of need andlor the refurbishment of
such housing.
The provision of public health facilities and childcare.
The provision of recreational facilities for the public or those who by reason of their youth, age, infimiity
or disability, financial hardship, or social and economic circumstances, have need of such facilities.
The development of skills and capacity in those living in socially and economically disadvantaged
communities to enable them to better identify and help meet their needs and lo participate more fully
in society., and
Any other purposes currently recognised as charitable and any new charitable purposes which are
similar lo another charitable purpose.
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The Powers of the charity now state:
The charity has the power to do anything which is calculated lo further ils Objectlsl or is conducive or incidental
lo doing so. In particular, the charity has the power to raise funds. In doing so, the charity musl not undertake
any taxable permanent trading activity and must comply with any relevant statutory regulations.
lo buy, lake on lease or in exchange, hire or otherwise acquire any property and to maintain and equip
il for use.
lo sell, lease or otherwise dispose of all or any part of the property belonging lo the charity. In
exercising this power, the charity musl comply as appropriate with sections 36 and 37 of the Charities
Act 1993, as amended by the Charities Act 2006.
lo borrow money and to charge the whole or any part of the propety belonging lo the charity as security
for repayment of the money borrowed or as security for a grant or the discharge of an obligation. The
charity must comply as appropriate with sections 38 and 39 of the Charities Act 1993, as amended by
the Charities Act 2006, if il wishes lo mortgage land.
lo cooperate with other charities, voluntary bodies, and slatulory authorities and lo exchange
information and advi￿ with them.
Page 4

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
lo establish or support any charitable trusts, associations or institutions formed for any of the
charitable purposes included in the Objects
lo acquire, merge with or enter into any partnership or joint venture arrangement with any other charity
lo set aside income as a reserve against future expenditure but only in accordance with written
policy about reserves.
lo employ and remunerate such staff as are necessary for carrying out the work of the charity. The
charity may employ or remunerate a director only lo the extent il is permitted lo do so by article 7
and provided it complies with the conditions in that article.
lo deposit or invest funds., employ a professional fund manager and arrange for the investments or
other property of the charity lo be held in the name of a nominee in the same manner and subject
lo the same conditions as the trustees of a trust are permitted to do by the Trustee Act 2000., and
lo provide indemnity insurance for the directors in accordance with, and subject to the conditions
in, section 73F of the Charities Act 1993.
2.2.4 Governance
The Trustees of Five Lamps Organisation retain overall oversight of the strategy and operations across the
whole organisalion. Whilst FLT has its own Board of Directors, the Trustees relain oversight of ils activities and
oullurns. During 2021122, the Trustees entered into an Upstream Loan agreement with FLT and subsequently
agreed to ringfence former FLT activity into a specific Charity account held with Unity Bank. This account has
been securilized lo the Social Investment Funders. This ensures a like for like arrangement lo that entered into
since 2018. At the same time, it protects the Charitable activities and liquidity.
Five Lamps Trading IFLTI has its own Board of Directors and presents a Directors report to accompany the
fi'nancial slatemenls. The report is included within the Trustees Statement. The Board of FLT also includes a
non-execulive Director appointment for both Tranche A and Tranche B Social Investment Funders. Due lo the A
noleholders not nominating a Director to the Board, since 31 sl March 2022, the Trustees and Directors agreed lo
an additional Observer arrangement rolaling be￿een the relevant A noleholders. This strengthens governance
and builds effective partnerships and transparent management of risk and opportunity.
The Governance structure also includes an Audit & Risk Committee with delegated responsibility for the
Charities Risk Register and matrix,. as well as ensuring the delivery of the Organisalion's audited accounts and
fi'nancial slatemenls. Due lo Covid19 and current economic uncertainty, this Committee is delegated to scrutinize
and ensure the robustness of the organisation's bad debt provision lo ensure il is sufficient lo mitigate risk and
cover exposure. The Trustees are pleased lo confirm that following the one-off adjustment lo the 2020121
accounts and subsequent effective management, more than 360/0 of the loan book is provided for. Trustees have
confi'dent that the charity could in the event of another major economic event, withstand a further 50/0 of the loan
book being provided for.
During 2021, the Trustees with financial support from the Social Investment Funders, commissioned an
independent review of ils affordable lending activities and specifically the delivery and future viability of the loan
note instrument and financial model underpinning the lending operations. This independent review gave
assuran￿ that the charities approach lo bad debt provisioning and management of bad debts was robust and fit
for purpose, with no recommendations for change.
The review was commissioned to inform strategic decisions around the future of lending, Five Lamps Trading
and the relationship with the Social Investment Funders. In April 2021, FLT suspended its new lending activity
pending the review outcome. The preferred route was lo reconfigure FLT lo be able lo deliver al cost lending
however Company Law did not support a move from a Limited Company with Shares structure lo either a
Limited Company by Guarantee or a Cic (Community Interest Company). The risk and likelihood of delays in
obtaining the required FCA permissions to lend in a new entity, the Trustees varied the Governance structure
and inler-company relations to deliver lending within the charity, with ils relevant permissions.
Page 5

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
In July 2021, an interim upstream loan was put in place be￿een FLT and FLO lo enable lending lo
recommence. The full upstream and new lending structure took effect from November 2021.
In December 2021, the Trustees amended the governance structure lo include a new Lending Committee.
standing independent lo the FLT Board and reporting to the Trustees, this Committee has oversight of all
lending activity, lending risk and is delegated lo ensure compliance with and delivery of the upstream loan
agreement.
The charities governan￿ structure enables effective decision making, scrutiny and risk management al the right
level in the business. The Trustees are satisfied, following ils internal self-assessment, that the structure is more
than fit for purpose to deliver against the Charity Commissions Trustees Responsibilities as well as lo discharge
Companies House expectations. The addition of the new Lending Committee further strengthens this.
Whilst all new lending activity currenuy sits within FLO, FLT remains able lo lend and deliver financial inclusion,
within our slruclure. The established asset lock principal in FLT that ensures 1000/0 of profil is reinvested back
into the business, either through increased personal lending andlor gift aid direct lo the Charity Ifor delivery of
our charitable objectives and specifically financial inclusion) remains in place. Any forecast profil from the
personal lending activities remains within the charity.
2.2.5 Board Purpose
The Board of Trustees of the Five Lamps Organisalion and the Five Lamps Trading Board of Directors, purpose
is lo ensure the delivery of ils aims and objectives and business plans by providing leadership, strategic
direction, and challenge, and at the same time ensuring effective control and oversight of the business and ils
operations whilst acting responsibly towards employees, stakeholders, and society.
2.2.6 Board Key Responsibilities
Managing organisational performance and risk.
To develop and review continually. the organisation's strategy, objectives, performance, slalutory compliance,
and risk, ensuring the measurement of impact on our customers and communities.
Leadership and strategy
To lead the development of the Five Lamps. Vision, Values and Strategic Direction.
strategic planning and implementation
To create coherent, strategic plans and timetables, monitor performance and review outcomes and impact.
Leading and delivering change
To plan for slralegic, transformational change and continuous service improvement proactively and positively in
The Five Lamps Organisation's service delivery.
Business Finance Opportunity
To assess and evaluate the key strategic, financial, and commercial opportunities and investment issues facing
The Five Lamps Organisation, in the context of the complex political, economic, sociological, technical, and legal
context in which it operates.
Communication
To promote the work of The Five Lamps Organisation lo a variety of external partners, stakeholders, and other
parties.
The Board employs the ServI￿S of a minute taker.
Day to day responsibility for the provision of services and operation of the business rests with the Group Chief
Executive.
During the course of 2021122 the Executive team comprised of the Group Chief Executive, Director of Strategic
Finance and the Director of Corporate Setvices. In August 2021, the Director of Corporate Setvices left the
Page 6

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Charity. Two new roles were created and appointed to the Executive Team.. al Director of Conduit Operations
and bl Head of Business Development and Assurance.
2.2.6 Related party relationships
The Trustees and Directors have all filed nil returns confirming that there no related party transactions in the
Charity.
Two non-execulive Board Directors can be appointed lo the FLT Board from the Social Investment Funders in
line with the loan instrument. One is in place and have a related party transaction in terms of the social
investment loan and relevant loan note their Company, Big Issue Invest has in the Trading Company. IThe
Security Trustee of the executed loan note instrument is also a non-execulive direclor.I
3.0 Risk Management
The Trustees ensure risk identification and risk management are a key priority. The external events of the last
few years have highlighted the exposure of significant risks outside the Trustees direct control. To ensure the
Charity is best placed lo mitigate ongoing and future such risks, the Trustees have strengthened risk
management to ensure lighter control and reporting on risks we can Influen￿ lo provide Confiden￿ and a
cushion to deal with unexpected risks materialising.
The Board of Trustees and the Directors of the Trading Company maintain a continuous review of the major
risks to which each company, each service area and cost centre and the charity is exposed lo. Identified risks
are included in a Risk Register and a Risk Management Matrix that, where appropriate, includes details of
systems, policies, procedures, or new management actions lo control and miligale the impact of risk if it
materialises. The governance structure includes an Audit & Risk Committee that has delegated responsibility for
monitoring and ensuring management of the risk register and matrix as well as identifying and reporting new
risks lo the Boards.
During 2021122 the Scheme of Delegations and Internal Financial Controls were reviewed and updated and are
now subject lo annual reviews as well as spot checks and internal testing.
The Charity seeks to manage some of these risks through a range of Insurance cover. Our Insuran￿ cover
spans public and employer's liabilty, professional indemnity, directors and Offi￿r'S liability, buildings and
contents and specialist cover such as lift Installations and a climbing wall. These are all subject lo review and
market testing on a regular basis with the latest review taking place in January 2022. Our insurance cover
includes the following..
Cover
Amount Insured
PubliclProducts Liability
Professional liability
Management Liability
Entity Defence
Employers Liability
£10m
£2m
£1m
£250K
£10m
Our Insurance policies includes cover for Directors, responsibility, crime and cybercrime.
Each Board identifies and agrees ils own risk management matrix that is then delegated to and updated and
reviewed al each Audit & Risk Committee, which meets at least four times per annum. Currently there a 54
specific risks across the organisalion, which are being monitored and management actions taken to mitigate.
The Executive Team review these monthly and a number are cascaded into operational risk management plans
lo ensure a three lines of defence approach to risk management and governance. Risks identified across the
business are reported lo the Audit & Risk Committee via the risk register.
Page 7

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
A specific risk map is in place for our Home Care service. As well as PPE and other infection control challenges,
this service is exposed to greater risks due to the clients we provide care lo, safeguarding issues as well as CQC
regulatory and commissioning body requirements. The delay in the reform of Adult Social Care and the
conclusion of the fair cost of care review has increased the financial and repulalional risk to the charity. The
bespoke risk map and regular risk reviews has ensured that no major risk has malerialised.
An internal staff led Health & Safely Committee meets regularly lo ensure statutory Complian￿ across all of our
buildings. All Five Lamps sub-conlraclors must satisfy a health and safely check as part of a 12-monlh due
diligen￿ check and update of all of their relevant policies and insurance schedules.
The nature of our services, which often work with the most disadvantaged and marginalised groups, or with
young and older people, ne￿Ssi1ate either of the levels of disclosure. All our staff appointments are subject
lo satisfactory enhanced disclosure.
3.1 Covid 19 Pandemic
In 2020121 a new risk for both the Charity and Trading Company was added 'Failure lo deal with the impact of
COVID. Covid-19 has and continues lo significantly impact on Five Lamps and our customers. Al the start of the
pandemic all of our services, excepting Homecare were temporarily moved to home working and amended risk
registers were implemented for this. During 2022 the organisalion has returned to office-based working but
implemented a hybrid working philosophy lo support colleagues and lo minimise the risk of spread of infection
which disproportionately impacts on the business. Our home care Servi￿ was exposed to the greatest risk
during Covid. As reported above, a standalone risk map was successfully implemented and managed during this
lime.
Conduit Loans, our personal lending product was significantly impacted. Revenue income was drastically
reduced, and consumer market fell during periods of lockdown. The risk has been miligaled through the new
lending model which includes an interest deferral and interest repayment schedule agreed with the Social
Investment Lenders. All of this has been independently verified through the independent review concluded in
August 2021. Subsequent to the year end, 31st March 2022 further agreement has been reached to waive
interest to expedite the recovery of the lending model and lo redu￿ the risk to refinancing due in 2024125.
The Trustees maintained a high level of governan￿ and oversight during the Pandemic, with Board and
committee meeting held virtually with increased communication be￿een meetings and routine risk updates
produced for Trustees and Directors. During the Pandemic, the Trustees ensured a comprehensive review of all
major financial risks lo the charity including the independent review of lending, a growth strategy for homecare
and a value for money review of all cost cenlres and service areas. The Trustees are pleased to report that as a
result, all service areas excepting lending are now self-sufficienl or contributing lo a charitable service.
3.2 Emerying Risks
Whilst in the recovery phase of the risk management plan, further new risks have emerged..
Cost of living crisis
Customers.. given the nature of the charitable objectives, our customer demographic is significantly
impacted by high inflation and cost of living pressures. This is changing how our customers access and
pay for all of our services.
Income & Fundraising.. Similar to other charities and VCSE'S, donations, fundraising and access
lo charitable grants is become more challenging as people have less to give. Threats to the charity
income streams has increased on the risk register
Employment.. the cost of increasing pay, terms and conditions to reflect external market pressures.
Energy Crisis
As well as impacting on our customers and direcuy impacting on increasing financial exclusion, the inslabilily and
cost of the energy market is directly impacting on the operating costs of the charity.
Employment Risks
As well as the risk of maintaining salaries commensurate with inflation, the current employment market is
Page 8

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
deslabilising the organisation's workforce, with talented colleagues being recruited by other organisalions able lo
pay premium rates and offer conditions of employment Five Lamps cannot match. As a small organisalion,
higher than expected staff turnover has a disproportionate impact on the day-to-day operations and strategic
progress of the charity.
Bad Debt Risk
All three of these new risks can, if not managed, negatively impact on the charities bad debt policy and provision.
Following the one-off adjuslmenl to reflect the Covid-19 risk in 2020121, the routine monitoring, review and stress
lesling of the bad debt provision has been comprehensively embedded across the business. Due lo the financial
impact of Covid and other factors on the Charity's balance sheet and nel worth, the Trustees recognise that
prudent and timely provisioning is essential as the cushion lo make relrospeclive amends becomes less. The
approach lo bad debts that provides at the point of loan disbursal, has been independently evaluated and
confi'rmed as fil for purpose and robust. During 2021122 the provisioning approach has been further developed
and strengthened. With £2,087,779 provided at 31st March 2022 equivalent lo 35.40/0 of the loan book, the
Trustees are satisfied that this is sufficient lo mitigate the risk of current exposure and the policy is sufficient lo
mitigate the risk of increased exposure lo bad debts. Al the time of signing the Financial Statements and
Accounts, Trustees revisited the current position., 370/0 of the group's loan book1£2,439,0001 is provided for and
the balance of the loan book that was in place at 31st March 2022 is now provided for al 43.20/0
In addition, the following risks have been uplifted in the risk register..
Adult Social Care: the lack of funding lo cover the actual cost of care including paying a fair wage lo home care
assistants is a major risk for the charity as staff turnover remains high as we lose colleagues to non-care
employers who can pay more than the charity and offer guaranteed contracts.
Regulation.. increased burden of regulation..
Pressures on CQC are widely reported however the increased expectation on care providers is a
fi'nancial and regulatory risk
FCA.. increased regulatory reporting plus requests for information and the new Consumer Duly., all
of which place pressure on resource within the charity.
Audits on compliance with external legislation are completed each year and we have strengthened the role of our
Business Development and Assurance Manager, adding more emphasis on Risk and Assurance across the
business. Continuous improvement audits of our HR policies and procedures throughout the organisation are
routinely completed with specialist support from Croner Assist ensuring we remain compliant and working
according to good practice. Whilst our HR activities are underwrillen by an employment indemnity, we also
ensure we minimise the risk of any claims through regularly updates, training and briefings.
3.3 Quality Assurance & Statutory Regulators
Five Lamps has a strong focus on service quality and compliance and has invested significantly as part of our
risk management strategy and commitment to customer experience and social impact.
In 2021122 a new role of Head of Business Development and Assurance was created and appointed to the
Executive Team along wrth a Director of Conduit Operations. Both of these new roles have regulatory and
statutory compliance embedded with a focus on quality-
We are regulated by the..
Care Quality Commission ICQCI - Five Lamps is regulated by the Care Quality Commission
for ils domiciliary home care services with registrations for al Five Lamps Home Care IEldon Slreell and
bl Parkside Court Extra Care Scheme
Financial Conduct Authority IFCAI - Both FLO IFCA Reference 656112) and FLT {FCA
Reference 7918481 are aulhorised and regulated by the FCA.
During the year there have been no regulatory breaches or adverse regulatory issues lo report with either body.
The Domiciliary home care service is currently recorded as 'Good' following a CQC inspection in June 2021.
Page 9

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
sin￿ the year end a separate CQC inspection was held at our Parkside Court Extra Care scheme. The initial
assessment identified some areas 'Requires Improvement,, but this outcome remains under review.
Five Lamps participated in an FCA Forbearance survey including some on site assessment and verification of
our pro￿sseS and no areas of non or partial compliance were identified.
4.0 PRINCIPAL ACTIVITIES
During the financial year, 2021122, the Charity continued to be disproportionately affected by continuing and
longer than anticipated Covid-19 pandemic. This continued lo be a challenge for management and staff and
delayed the planned financial recovery. We are proud to have sutvived the pandemic. We are proud lo have
sustained the significant financial and social impact and be able to continue to deliver against all of our charitable
objectives and strategic aims.
Whilst the financial implications have been greater than inits'ally forecast, the Trustees have ensured the Charity
is in the best possible position to rebuild ils financial strength and retain and build on its reputation both as a local
charity invested in its local communities, and as a national charity playing a lead role in tackling financial
exclusion and poverty premium challenges.
Since our last Trustees Statement and Principal Activities, we have continued to punch above our weight and
find new and innovative ways to complement what we already do to continue to deliver charitable ServI￿S and
products. A few highlights are included below and will be accompanied by a 2020- 2022 Charity report including
our next social impact report.
4.1 Five Lamps Organisation the charty
We are ex￿ptIOnallY proud of the resilience and strength of the charity during these unprecedented limes
achieved through the delerminalion our highly skilled and committed workforce. Five Lamps has been in
existence for 35 years. We know the threat to viability many charities are facing. Despite the redU￿d net asset
value in our group accounls1£75,299} this has been carefully managed throughout the year lo ensure maximum
use of our assets lo deliver during the year and to plan for continued recovery and growth in future years. Since
the year end, the balan￿ sheet position has changed due lo the agreement noted above. Had that agreement
been in place al Balan￿ Sheet dale the nel assets would have been £491,508. Whilst il is disappointing this
could not be included within the actual accounts as the decision was made post 31st March 2022, il does
significantly improve our financial viability which will be evidenced in the 2022123 accounts.
During 2021122 we received donations and grants of £381,520 which went direct into the delivery of servI￿s.
The Trustees record their formal appreciation lo all our partners, organisalions and supporters who share our
vision and determination lo continue lo be able to deliver charitable services and support in the future.
4.2 Youth Services
Covid-19 resulted in the temporary closure of our bespoke youth services facility, The Youthy, as we could not
deliver the much-needed face lo face engagement and support. The Trustees are pleased that with the support
of furlough funding, we were able lo sustain all of the youth worker posts who retumed to work in September
2021 and have been instrumental in rebuilding the service. During lockdown we adapted and delivered services
lo local young people in their communities with a particular focus on ICT support, food poverty and loneliness
and isolation. Since re-opening, we have begun the implementation of our strategic objective lo revitalise The
Youthy and as it moves into ils 21 st year to refocus it as a community hub.
4.3 Home Care & Health and Social Care
Despite working in the most unique and unprecedented operating environment, against the backdrop of the risks
associated with Covid-19, we are delighted that our commitment lo providing domiciliary home care lo support
local people to live independently within their own homes and lo alleviate the pressure on both the NHS and
social care services has been and continues lo be realised. Delivering more than 3000 hours of care and support
is a significant achievement. Our Domiciliary Care team have pul our service users central al even al the most
challenging limes, we have pulled the stops out to ensure personal care plans were maintained. As a charity, we
went the extra mile lo ensure isolated and vulnerable service users had the support they needed.
During the year, we were delighted lo maintain the Primary Care Provider status with Stockton on Tees Borough
Page 10

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Council and now provide home care services across the South of Slocklon including Thornaby, Ingleby Barwick,
Yarm and Eaglescliffe as well as spot contracts where we know we can provide the Servi￿ under the secondary
provider status which was also retained. Similarly, we retained primary care provider for an Extra Care scheme
at Parkside Court.
We recognise the invaluable Importan￿ of training to ensure we have a skilled and professional home care
workforce. In 2021, we invested into our in-house training service, which with the help of bespoke training rooms
and role play service user environments, we have ensured all new colleagues complete an in -house training and
induction programme and all existing home care colleagues have regular refresher training. This team also
deliver bespoke Emergency First Aid at Work training lo the wider Charity team.
The original vision for this service was to provide it for other organisations lo generate income bul also lo ensure
a high standard of care provision across the area. Due to Covid, this did not materialise, bul il forms parts of our
plans for 2022123.
As a Charity, we commit lo 'Make People Matter,. This includes our colleagues as well as our service users. The
Trustees are exceptionally concerned al the delays in tackling the health and social care crisis and specifically
resolved the actual cost of care exercise to ensure care is paid for at the right price. Our partnership with
stockton Borough Council has ensured we can put our care staff central, and we are grateful for their continued
support & investment. In the meantime, the Trustees and Executive will continue lo lobby, and use lived
experiences lo build a strong case for change and investment into social care and to tackle health inequality.
In November 2021 we expanded and now have a spot contract with Middlesbrough Council. In addition to the
home care services we provide, under our Health & Social Care remit, we also deliver..
A Hospitsl Discharge and Home from Hospital Service. This is a rapid care service supporting people
on their discharge from hospital for up to 14 days while their primary provider package is being
estsblished.
End of Life Continuing Health Care. We provide end of life care lo service users within their homes,
working with a team of professionals lo meet the care needs and wishes of Servi￿ users and their families
Private home care packages for families who are not eligible for adult social care funded support bul
still need support to live independently and safely.
4.4 Employability & Enterprise
Our Employability and Enterprise Team deliver the Youth Employability Initiative which support 1 >29-year old's
who are not in employment, education or training. Our experienced Advisors work with them to remove the
barriers to employment to prepare them for the world of work or business enterprise.
During the pandemic we adapted our setvice to continue lo deliver and supported 153 people into employment
or self-employment making a positive impact to the Teesside economy.
During the year our longstanding contracts with the Northeast Enterprise Agency Limited and Hartlepool Borough
Council came to an end. We are delighted that in total 380 people received our support, with 148 going on lo
employment or self-employment.
4.5 Helping Hands.
We have been delivering the 'Helping Hand. scheme on behalf of Northeast local authorities for more than 12
years. During that time, we have assisted more than 860 households with a loan, mainly lo bring owner occupied
properties up to a decent living standard as well as to renovate empty homes, undertake disabled facilities
adaptations and lo support relocations due lo compulsory purchase. In 2021122 we provided this Servi￿ in
Northumberland, North Tyneside, Gateshead, Sunderland, Hartlepool, Redcar & Cleveland, Slocklon and
Darlington
4.6 Empty Homes
The funding for this Empty Homes Community Grants Programme concluded in 2015 bringing 48 long term
empty homes back into use across Durham and Darlington councils.
Our balance sheet reflects that we own former purchase and repair properties, and our Statement of
Page11

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Consolidated Financial Activities reflect the income.
4.7 Conduit Loans
Conduit Loans is the brand name for our affordable personal loans. Both the charity and the trading company
can operate under this brand.
Since inception in 2018, the lending delivered ulilising the social investment loan notes of c£4.8m has been
undertaken within Five Lamps Trading as a separate entity albeit owned by the 1009/0 shareholder, the Five
Lamps Organisation, the charity.
During 2021122 and following the independent review of our investor lending model and associated activity, il
was agreed that FLT would no longer issues new loans although it would continue lo manage its existing loan
book. A lolal of £2million was upslreamed from FLT to FLO via an Upstream Loan Agreement into a securilised
and ring-fenced Unity Bank account where lending activity is now trading. Whilst the upstream agreement was
be￿een FLT and FLO, the social investment lenders security Iruslee was paty to the Agreement. Five Lamps
also agreed lo a variation lo the Debenture held over the Charity lo include a replication of the arrangements
held in FLT for the new ringfenced account. The social investment lenders interest in the ringfenced account
along with the loan book value of all loans disbursed from and collected into this account is secured through an
identical charge over the asset.
Historically, the Social Investment Funders required all lending went through the trading company,. this included
historical lending and new opportunities delivered by the charity, including for example our Conduit Scotland
activity. The standalone accounts for FLT no longer include any activity funded by the charity or other sources.
Where FLO is delivering Conduit Loans in ils own right and using funds other than investor loan notes, these
transactions all sit within the charity and outside the ringfence arrangements.
During the year, the Trustees are delighted that, with support from the Scottish Government and £500,000 grant
funding, the charity has been able to deliver lending to tackle financial exclusion and lo help alleviate the financial
pressures on the charity. Whilst this has been slow lo take off, it provided an invaluable lifeline to continue
lending and lo utilise overheads when the FLT lending was paused.
We are delighted lo report that unlike many others, we have managed lo sustain the unprecedented pressures
associated with delivering unsecured personal loans during a period of significant economic instability and
reduced consumer confiden￿. Whilst these accounts evidence an operating loss on our lending activity that has
depleted our nel asset value, we recognise that lending is a cash intensive business and relies on cash being
disbursed lo generate the income and lo recycle cash for on lending. The Trustees planned and budgeted for a
further operating loss in lending in 2022123 confident in the knowledge the file our statements in a stronger
position for the future that will enable us lo manage the loss in advance of the profilabilily commencing in
2023124. This has been achieved as a result of our resilience, risk management and support from our Social
Investment Lenders. The Trustees remain resolute in our charitable aim to continue to grow our affordable
lending and financial inclusion aclivilies.
This will be central lo our future activity, investment and plans for diversification as we respond to the worsening
financial exclusion with millions of people unable lo access mainstream credit and experien￿ financial inequality
'poverty premium. and are vulnerable lo high cost or unregulated lending. Added lo this the impact of rising cost
of living, more people are becoming financially excluded. Access lo ethical fi'nance is even more important during
periods of national and personal economic uncertainly. Five Lamps is determined lo prove that our affordable
lending activities are commercially viable and attractive for future investment and support alongside showcasing
the invaluable social impact and positive difference a Conduit Loan makes.
Key successes include..
£2,077,341 of loans were disbursed to 2,928 households in 2021122 generating a social impact of
c£682k (calculate based on £225 per loan)
Maintained and marginally improved loan collection and bad debt performance ensuring it does
not exceed the maximum 160/0 threshold at any given lime.
Ensuring Sign off of a new lending and financial model agreed with Social Investment Lenders to
beller reflect customer demand and to support scale up and future growth.
Page 12

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Made the Conduit Loan available on cost comparison sites, securing new partnerships for growth.
Invested £50k to update our systems and processes and to develop our first and new Conduit
Lending App that will give our customers increased control of their loan and enable us lo support
customers lo repay their loan. 11 will also be used to enable different loan product applications to be
made, assessed, disbursed and evaluated.
4.8 Partnerships & Social Investment Lenders
Five Lamps does not and cannot work in isolation. The ongoing viability of the charity and our ability to deliver
our charitable objectives is best achieved through partnerships and innovation.
Our thanks go to our eight social investment lenders who have been supportive, patient and flexible as we have
navigated the risks faced over the last few years. Similarly, our appreciation goes to Big Society Capital for the
Covid Business Interruption Loan Scheme ICBILSI which enabled us to recover from the pause in lending and
unexpected impact of an extended pandemic.
As well as our financial partnerships, the Trustees recognise that everything we do in the charity is made better
through partnerships ranging from partnerships with the local authority, with membership organisalions including
Responsible Finan￿ and Calalysl, with other voluntary sector or charity groups such as Little Sprouts and
consortia of charities including Cornerhouse, and Cultivate Tees Valley that work together with us lo deliver
Youth Services across the Borough. In yet another challenging and Unpre￿dented year, partnerships have been
pivotal and there are loo many to specifically mention bul the Trustees recognise the added value of each
individual and organisalion.
The Trustee Report is signed jointly by Patricia Chambers (Chair of Five Lamps Trusleesl and Vivienne Holmes
Ivice Chairl.
Five Lamps Trading: Directors Report to the Trustees and to accompany the standalone accounts
for filing
The principal activities of Five Lamps Trading Company IFLTI is affordable personal loans for those unable lo
access mainstream funding and lo alleviate the impact of financial hardship Icharitable objecll.
We are pleased to present our 2021122 Directors report to complement the Trustees report and to be included in
the Five Lamps, Group Financial Statements. The Directors report provides an overview of business activity and
accompanies the financial statements related to FLT registered with Companies House number 08029251.
Five Lamps Trading is a separate company that sils as a subsidiary within the Five Lamps Organisalion and
whilst a separate Limited Company with Shares, it is owned by the charity as the 1 OOQ/o shareholder. Ils activities
are included in the Charities consolidated accounts and Trustees report. To comply with Company House
requirements, the Directors also have to file the FLT accounts excluding the charitable activities.
This Directors report serves both purposes. For those ac￿SsIng the FLT accounts via Companies House please
refer to the full Trustees report at www.fivelamps.org.uk or the Charities Commission.
5.1 Business Activity 2021-22 Summary
2020121 has been an extraordinary year for Five Lamps Trading Limited. Significant slruclural and trading
changes have been made lo..
Reduce the future losses from the lending activity
Protect the charity against higher than expected reduction in ils nel worth
Improve the potential of future refinancing in years, lime
Adapt our lending product to meet the changing needs of customers including a higher APR rate
lo increase eligibility and access.
Agree a new strategic recovery and growth plan for Conduit Loans.
By 31st March 2022, FLT had been reconfigured to only focus on affordable lending utilising the Social
Page 13

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Investment Lenders loan notes of c£4.9m. Given the whole of FLT is held in security against the loan notes, all
non-related activity is now managed within the Five Lamps Organisation charity.
During 2020121 the Directors identified that the corporate structure of FLT as a Company Limited by Shares
prohibited us from delivering true purpose of a Community Development Finance Institution and affordable loans
as an allernalive to high cost short term lenders. The 2020121 review clearly identified that the current product
was not covering the on costs to deliver the loan.
other CDFI'S are able to offer loans with a representative APR higher than 1 OOQ/o With exemptions from the
Financial Conduct Authority IFCAI. The FCA would not grant FLT an exemption as it is not a charity or Cic
Icommunity Interest Company) even though it is solely owned by Five Lamps Oryanisalion, a charity and is
subject lo a 1000/0 asset lock.
The Directors along with the Trustees explored a range of options including setting up a new Cic or charity within
the Five Lamps Organisation to ringfence the social investment lenders activity. This remains the preferred roule
bul was not achievable within the timescale needed to protect the viability of the Charity and to stem losses.
In April 2021, the Directors paused all lending within FLT to mitigate the risk. Together with the Trustees and the
support plus some funding from the Social Investment Lenders, an independent review of FLT and specifically
the lending model was commissioned. This concluded in July with the final report received in August 2021 which
confi'rmed that the lending model and business strategy, with all ils relevant assumptions was fit for purpose.
Subsequently a decision was taken to Upstream funds from FLT into FLO to replicate the investor relationship
within the Charity and for all loans lo be disbursed by Five Lamps Organisalion.
An Upslreaming Agreement for the sum of £2m loaned money from FLT lo FLT was enacted in November 2021.
This is a no interest bearing loan.
From August 2021 wth an initial upstream of £500k, lending activity previous managed in FLT was undertaken in
FLO.
Five Lamps Trading .'
Collects and manages the existing loan book up lo 31.3.21.
Accrues the liability and is responsible for the payment of investor interest
Accounts for the Conduit staffing costs.
Report to the Social Investment Funders on the combined value and operating performance of
both entities.. FLT and the ringfenced activity in FLO.
Five Lamps Organisalion..
Disburses and collects principal and interest from all new loans.
Covers the majority of the delivery costs
Provides a designated ringfenced bank account for all transactions and the management of the
£2m upstream loan that is securitized lo the Social Investment Funders.
Is obligated lo ensure that FLT has sufficient liquid funds lo discharge ils liabilities. FLO transfers cash
lo FLO to maintain positive cash balan￿s.
Produces the hybrid accounts lo enable the FLT Directors to report against the delivery of the Loan
Note Instrument and against the new approved lending Irecovery model).
Trustees monitor progress against the model and set maximum toleran￿S for risk appetite and loss.
From a Social Investment lender perspective, they receive the same information. For the purpose of filing
stalulory Accounts and Financial Statements, the accounts only include the activity contained within. The loss in
FLT is presentalionally worse than the sum of both ringfen￿d activities and disproportionally worse than
2020121.
At 31st March 2022, the FLT Board of Directors report a year end loss of £1,049,590 compared to £1,112,604.
Had FLT been able to continue lo deliver lending, the loss for 2021122 would have been reduced lo £896,590.
However, the surplus of £153,000 sils within the Five Lamps Organisation as a result of the changes resulting
from negotiations with our Social investment Funders.
Page 14

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
£2,077,341 of loans were disbursed to 2,928 households in 2021122 generating a social impact of c£682k
Maintained and marginally improved loan collection and bad debt performance ensuring it does
not exceed the maximum 160/0 threshold at any given lime.
Ensuring Sign off of a new lending and financial model agreed with Social Investment Lenders to
Lenders lo better reflect customer demand and lo support scale up and future growth.
Made the Conduit Loan available on cost comparison sites, securing new partnerships for growth
Invested £50k to update our systems and processes and to develop our first and new Conduit Lending
App that will give our customers increased control of their loan and enable us lo support customers lo
repay their loan. It will also be used to enable different loan product applications lo be made,
assessed, disbursed and evaluated.
The Directors also report that subsequent to the 2021122, the Tranche B Social Investment Funders have agreed
lo waive their interest owing up to 31.3.22. Had this been agreed in the reporting year, the loss in FLT would
have been £863,795 and on all of Social Investment Funder activity would have been £710,795
At the year end, the nel liability position of FLT was £2,104,758.
These losses have been supported by the Board of Trustees Icharilyl in pursuance of ils longer term charitable
objectives and lo mitigate the risk of the Social Investment Lender Debenture being evoked in the future.
5.2 Leadership Team
During the year, the Executive team included the Group Chief Executive who is a Director of the company, a
Director of Corporate Services and an Interim Strategic Finance Director. In August 2021 following the departure
of the Director of Corporate Services, new roles were created al Head of Business Development and
Assurance and bl Director of Conduit Operations. To complement the increased focus on strategic financial
planning, these roles increased the focus on quality, risk management and delivery of a growth agenda for
lending.
The Directors continued lo ulilise outsourced support from Ellison Ray for their affordable lending and financial
modelling expertise.
5.3 Future
The Directors continue lo oversee the financial performance of the FLT company whilst noting il will continue lo
deleriorale until such time as the loan notes are refinanced as the income and profit sils outside of the trading
entity.
In addition, the Directors will continue to oversee delivery against the Loan Note Instrument and the financial
lending model as well as discharge its responsibility to report on covenant compliance.
sin￿ the year end, the Directors as well as the Trustees have continued to engage with the Social Investment
Lenders to secure more efficient ways to expedite recovery and lo generate profit in the last few years of the
Loan Notes. The Directors would like lo thank all eight lenders for their flexibility and agreement reached lo
deferral and reschedule interest payments from 2022 to 2025.
Furthermore, the Directors expressly wish lo thank the majority B note lenders who have agreed lo waive the
interest accrued to 31 st March 2022 lotalling £416,220 to improve the financial health and resilience of both FLT
and lending.
Finally, the Directors wish to thank the Board of Trustees who remain commilled lo personal lending and ils
pivotal role in addressing financial exclusion and the poverty premium impacts having an inability lo ac￿SS
mainstream credit has on the people and communities we support. The charity has invested significantly in FLT
and lending and absorbed losses within the consolidated balance sheet. Covid-19 and the cosl-of-living crisis
has directly impacted and pushed back the forecast lending profil by hvo years. With the support of Trustees and
Social Investment Lenders, the lending business is now back on track to realise a profit in 2023124.
Social Impact Reporting
Five Lamps is passionate about ils ability to deliver and eviden￿ social impact. The planned 18-month social
Page 15

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
impact report due in 2022 was delayed. A new communications strategy has been agreed along with investment
into new roles a} Performance and Data analyst who will extract the data and evidence to showcase social
impacts and bl Executive Support and Marketing offi.￿r who will work with the Chief Executive and Executive
team to produce and publish a social impact report early in 2023.
Whilst a formal document has not been published in the reporting year, social impact reports are provided lo our
lenders on a monthly basis, and we publish good news stories and real examples of the difference our services
and products have made to people's lives when supporting financial, economic or social inclusion.
PLANS FOR THE FUTURE
7.1 strategic direction and future plans
Five Lamps has a 35-year history of delivering and forging partnerships lo promote and deliver social. financial,.
and economic inclusion and lo invest in the local communities particularly across Stockton on Tees and across
Teesside. Nationally we are committed lo being a leading CDFI supporting financial inclusion high-cosl short
term credit and l or the lack of access of affordable credit.
We are committed to retaining and building on our heritage and using this experience to grow where our services
and products can help change people's lives.
We have a proven track record of being versatile and able to respond to new initiatives and opportunities and
have become well placed al influencing and helping lo bring about change.
Surviving the unprecedented challenges of the last few years and seeing the impact this has also had on
individuals, families, businesses and communities we know that our charitable activities and services and
needed now more than ever. With a clear and strengthened financial fooling, the Executive Team, Trustees and
Directors share a renewed passion to build on our suc￿sSeS and innovate to improve social, economic and
financial inclusion.
In 2022123 we will be publishing our new 5-year Corporate plan which will revisit and expand on the priorities
agreed for 2022 as follows..
Recognised brand and purpose for our charity.
We know the services and products we provide are needed more now than ever. We plan lo ensure
our brand and activities are beller marketed and well known. We will be creating a new Community
Events position.
Moving from charitable activities that are reliant on grant and other funding, we plan to build on and
make our fundraising activities an integral part of what we do.
Ensure our assets and value
We will be consolidating our premises and assets lo build on the Eldon Street head office being the hub
of the charity with the Youthy being the hub for youth engagement and inclusion.
We have secured the purchase of Eldon Street and will be investing to strengthen ils value.
Our people: we want to be an employer who people enjoy working with and want to work for
A new cultural strategy is lo be implemented with the values of the organisation being updated and
future proofed.
We are reviewing our terms and conditions lo ensure where we are able to, we support our colleagues
lo cope with increasing inflation, rising cost of living and increased lax and Nl contributions.
Mental health and a healthy workforce are a priority for us to ensure that our staff are supported
and happy in their work.
Continue lo develop our agile working policy and support colleagues, where they can, to work flexibly
and remotely, being trusted and accountable for their delivery and performance.
Page 16

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Governance
Recruit new Trustees with specific skills and experiences to help us deliver our vision, ensure
the oversight and achievement of the future targets and to complement the existing Trustees, including
a new Audit and Risk Chair.
A review of the FLT Governance structure and Board of Directors as their terms of office come lo an end.
A review of the governance structure across the Group lo ensure the right balance of focus and
challenge is ￿ntred in the areas to best manage risk and support new opportunities.
Financial Health & Resilience.
We have survived some of the biggest challenges Five Lamps has ever experIen￿d. We want to build on this lo
ensure we have reserves in the tank for the future and as well as being able to survive future risks and
challenges, we are best place lo pursue new opportunities.
Complete a financial health check and independent support on future refinancing and
funding opportunities
Ensure regular market and funding potential assessment lo ensure Five Lamps accesses and benefits
from relevant funds and grants that complement our priorities.
Undertake a value-added assessment of all of our functions and activities.
Carbon Neutral
We recognise the pressure and necessity to protect our planet and ensure its viable for future generations. As
part of this, in 21122 we embark on our first assessment of our carbon footprint and impact we have on the
environment and publish our plans for reducing our impact. We have started this through electric bikes for our
care staff bul will be looking lo lake this further and al the same time explore initiatives that can support the
customers and communities we serve with improved affordability as result of carbon neutral aclivilies.
Digital Transfomiation.
We plan lo ensure our ServI￿S and contracts are accessible via evolving digital channels and technology. We
plan to develop a digital shift strategy to outline how we can become more effective through digital innovation
and technology as well as improve the social, financial, and economic impact we make.
Social Impact
Everything we do is about delivering a positive social, financial, or economic impact and Making People Matter.
This year we plan to showcase some of the brilliant work we have done and plan lo do and use this as a
foundation and catalyst lo refocus and grow the Five Lamps Charity.
STRATEGIC DIRECTION AND FUTURE PLANS
Our Mission.. To Transform Lives, Raise Aspirations and Remove Barriers to Social, Economic & Financial
Inclusion
Our Business.. A nationally recognised charitable business working with excluded individuals and families in the
most disadvantaged communities.
Oelivered Through:
Trusted Brand
Quality Assured Services Making People Maller
Superior Contract Performance Measured Social Impact
Social Investment
Skilled & Motivated Workforce Expanding Geographic Reach
Revenue Generated via Stronger Balance Sheet Making People Matter
Treating people with respect Releasing potential
Page 17

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Keeping confidentiality
Enabling and empowering people to help themselves Challenging self-perceplions and encouraging
self-self-worth
Ourvalues are:
To make people matter, by releasing their potential and encouraging self-worth
Perfomiance matters, by achieving targets and meeting quality standards
Quality matters. by assuring quality and achieving contemporary quality standards
To make communities matter, by understanding neighbourhoods and their needs including everyone
Measuring impact matters. by collecting social and economic data across the full range of our
business and producing an annual Social Impact Report
OISCLOSURE OF INFORMATION TO AUDITORS
Each of the persons who are Trustees al the lime when this Trustees, report is approved has confirmed Ihal..
so far as that Trustee is aware, there is no relevant audit information of which the charitable group's
auditors are unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charitable group's auditors are aware of that
information.
AUDITORS
The auditors, Armstrong Watson Audit Limited have indicated their willingness lo continue in offi￿. The
Designated Trustees will propose a motion re appointing the auditors at a meeting of the Trustees.
This report was approved by the Trustees,
and signed on their behalf by..
P Chambers
Trustee
V Holmes
Trustee
20112122
20112122
Page 18

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2022
The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for
preparing the Trustees, Report including the Strategic Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting
Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the
Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of
the slate of affairs of the Group and the Company and of their incoming resources and application of resources,
including their income and expenditure, 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 of the Charities SORP IFRS 1021.,
make judgments and accounting eslimales that are reasonable and prudent",
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material
departures disclosed and explained in the financial ststemenls.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial
position of the Group and the Company and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 19

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE FIVE LAMPS ORGANISATION
Opinion
We have audited the financial statements of The Five Lamps Organisation (the 'parenl charitable company'l and
its subsidiaries (the 'group'l for the year ended 31 March 2022 which comprise the Consolidated Statement of
Financial Activities, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement
of Cash Flows and the related notes, including a summary of 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 Praclicel.
In our opinion the financial statements..
give a true and fair view of the slate of the Group's and of the parent charitable company's affairs as at 31
March 2022 and of the Group's incoming reSoUr￿S and application of resources, including its income and
expenditure for the year then ended",
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006.
8asls for oplnlon
We conducted our audit in accordance with International Standards on Audits'ng IUKI IISAS IUKII and applicable
law. Our responsibilities under those stsndards are further described in the Auditors, responsibilities for the audit
of the financial ststemenls section of our report. We are independent of the Group in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance wrth these requirements. We believe that the audit eviden￿ we have obtained is sufficient and
appropriate lo provide a basis for our opinion.
Concluslons relatlng to golng concern
We have nothing to report in respect of the following matters in relation to which the ISAS IUKI require us to
report lo you where..
the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is
not appropriate., or
the Trustees have not disclosed in the financial statements any identified material uncertainties that may
cast significant doubl about the Group's or the parent charitsble company's ability to continue to adopt the
going concern basis of accounting for a period of al least ￿e1ve months from the date when the financial
slalements are aulhorised for issue.
Page 20

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE FIVE LAMPS ORGANISATION
ICONTINUEDI
Other information
The Trustees are responsible for the other information. The other information comprises the information included
in the Annual Report, other than the financial statements and our Auditors, Report thereon. Our opinion on the
financial statements does not cover the other information and, except to the extent otherwise explicilly stated in
our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is lo 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 misslaled. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the
work we have performed, we conclude that there is a material misstatement of this other information, we are
required lo report that fact.
We have nothing lo report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given In the Trustees. Report including the Strategic Report for the financial year for which
the financial statements are prepared is consislenl with the financial statements.
the Trustees, Report and the Strategie Report have been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of our kn￿edge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees, Report including the Strategic
Report
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion..
the parent charitable company has not kept adequate and sufficient accounting records, or returns
adequate for our audit have not been received from branches not visited by us., or
the parent charitable company financial statements are not in agreement with the accounting records and
returns., or
certain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
Page 21

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE FIVE LAMPS ORGANISATION
ICONTINUEDI
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustees Iwho are also the directors of
the charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view. and for such intemal 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 Group's and the parent
charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group
or the parent charitable company or to cease operations, or have no realistic altemalive but to do so.
Page 22

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE FIVE LAMPS ORGANISATION
ICONTINUEDI
Auditors. responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misslatemenl, whether due to fraud or error, and lo issue an Auditors, 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 IUKI 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 lo influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, lo delect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is
detailed below..
Our approach lo identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was as follows".
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills lo identify or recognise non-compliance with applicable laws and regulations,
we identified the laws and regulations applicable to the company through discussions with directors and other
management. and from our commercial knowledge and experience of the sector the company operates in,.
we assessed the extent of compliance with the laws and regulations identified above through making enquiries
of management, and
identified laws and regulations were communicated within the audit team regulady and the team remained alert
lo instances of non-compliance throughout the audit.
We assessed the susceptibility of the financial statements to material misstatement, including obtaining an
understanding of how fraud might occur, by."
making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud", and
considering the internal controls in place to mitigate risks of fraud and non•compliance with laws and
regulations.
To address the risk of fraud through management bias and override of controls, we".
performed analytical procedures to identify any unusual or unexpected relationships.,
tested journal entries lo identify unusual transactions", and
assessed whether judgements and assumptions made in determining the accounting estimates set out in Note
2 were indicative of potential bias.
In response to the risk of irregularities and non•compliance with laws and regulations, we designed procedures
which included, but were not limited lo".
agreeing financial statement disclosures to underlying SLJPPOrting documentation,. and
enquiring of management as to actual and potential liligalion and claims.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website al. www.frc.or
.uklauditorsres
onsibililies. This description forms part of our
Auditors, Report.
Page 23

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE FIVE LAMPS ORGANISATION
ICONTINUEDI
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance wth Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable
company's members those matters we are required lo stale lo them in an Auditors, 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 charitable company and ils members, as a body, for our audit work, for this reFX)rt, or for the opinions we
have formed.
Simon Tumer (Senior Statutory Auditor)
for and on behalf of
Armstrong Watson Audit Limited
Chartered Accountants & Statutory Auditors
Northallerton
Dale..
2111212022
Page 24

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND
EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted
funds
2022
Restricted
fund$
2022
Total
fund$
2022
Total
funds
2021
Note
Income from:
Donations and1￿8cleS
Charitable activities
other trading activities
Investments
258,942
1,560,649
480.564
25.696
719,588
258,942
1,587,877
480.564
25.736
776,470
610,227
1,460,405
7,520,874
19,700
614,488
27,228
40
56,882
Other income
Total incomo
Expenditure on:
Raising funds
Charitable activities
Exceptional expenses
3,045.439
84.150
3,129.589
4,225,694
77.282
3,571,218
77.282
3,832,206
97,610
3,870, 182
774, 796
260,988
Total expendlture
3,648.500
260.988
3,909.488
4,682,588
Net movement in funds before other
recognised gains
Other recognised gains:
Gains on revaluation of fixed assets
{603.0611
{176.8381
{779.8991
(456,894)
240,000
240,000
Net movement In funds
{363.0611
{176.8381
{539.8991
(456,894)
Reconciliation of funds..
Total funds brought forward
Net movement in funds
101.460
{363,0611
513.667
{176,8381
615.127
{539,8991
1,072,021
(456,894)
{261.6011
336.829
75.228
615,127
Total funds carried foNiard
Page 25

20/12/2022 Pat Chambers (Chair) and Vivienee Holmes (Vice Chair) 



20/12/2022 



20/12/2022 


Pat Chambers (Chair) and Vivienne Holmes (Vice Chair) 


~~20/12/22~~ 



THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2022
2022
2021
Cash flows from operating activities
Nel cash used in operating activities
1382,128)
48,450
Cash flows from investing activitios
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Nel movement in loan book
330
(7,676)
600,361
(22,484)
446.621
Net cash provided by investing activities
424,137
593.015
Cash flows from financing activities
Cash inflows from new borrowing
751,280
Net cash provlded by flnanclng actlvltles
751,280
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
42,009
1,392,745
1.917.915
525, 170
Cash and cash equlvalents at the end of the year
1,959,924
1,917,915
The notes on pages 29 to 57 form part of these financial statements
Page 28

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
General infomiation
The principal accounting policies adopted, judgements and key sources of eslimalion uncertainty in the
preparation of the financial statements are as follows..
Accounting policies
2.1 Basis of preparatlon of flnanclal statements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
The Five Lamps Organisalion 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 ststed in
the relevant accounting policy.
The Consolidated Ststemenl of Financial Activities ISOFAI and Consolidated Balance Sheet
consolidate the financial statements of the Group and its subsidiary undertaking. The results of the
subsidiary are consolidated on a line by line basis.
The Group has taken advantage of the exemption allowed under section 408 of the Companies Act
2006 and has not presented ils own Statement of Financial Activities in these financial ststemenls.
2.2 Company status
The company is a registered charity and company limited by guarantee. The members of the
company are the Trustees named on page . In the event of the company being wound up, the liability
in respect of the guarantee is limited lo £1 per member of the company.
The company is a charitsble company domiciled in England and Wales, registration number
02441319 and charity number 702314.
The registered office is Eldon Street, Thomaby, Slocklon-on-Tees, TS17 7DJ.
2.3 Golng concern
The Trustees have prepared the financial ststemenls on a going concern basis. This is having taken
account of the historic losses of the group I company as well as covenant waivers in the year.
In reaching their conclusion the Trustees have considered cash flow forecasts up to al least 31st
March 2024 and considered monthly and quartedy trends and at all times, cash is expected to remain
above £500k and therefore able to withstand any delays or changes to income.
Trustees have considered the forecasts for both FLO and FLT including ringfenced lending activity
and subject these to challenging sensitivity tests around income. All of these tests can be mitigated
and l or ensure cash balances do not fall below £200k minimum level. None of these tests would
create a loss that would result in a negative net asset. The Trustees are satisfied of the going
concern status., as the assumption in the lending model, previously a cause for uncertainty have been
independently validated in the year and reported as reasonable and feasible. This has given the
Trustees enhanced confidence in the forecasts to deliver improving nel assets over the next two
operating period 22123 and 23124.
Page 29

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accounting policies Icontinuedl
2.4 Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore il meets the definition of a charitable company for UK COfFX)ration tax purposes.
Accordingly, the company is potentially exempl from taxation in respect of income or capital gains
received wthin categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
2.5 Incoming resources
Income lax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Other income is reC(￿niSed in the period in which il is receivable and to the extent the goods have
been provided or on completion of the service.
lil Grants and Donations..
Income from grants and donations, including capital grants, is included in incoming resources when
receivable, except as follows".
lal When donors specify that donations and grants given to the Charity musl be used in future
accounting periods, the income is deferred until those periods.
Ibl When donors impose conditions which have to be fulfilled before the Charity becomes entitled to
use such income. the income is deferred and not included in incoming resources until the pre
conditions for use have been met.
When donors specify that grants and donations, including capital grants are for particular restricted
purposes, which do not amount lo pre conditions regarding entillemenl, this income is included in
incoming resources of restricted funds when receivable.
Investment Income
Investment income is included when receivable by the Charity.
Fees and Similar Income
Fees receivable and charges for services provided and for the use of premises are accounted for in
the period in which the service is provided.
Commercial Trading Operations
Income from commercial trading operations is included in the period in which the group is entitled to
receipt, and comprises the turnover of the trading subsidiary including rental income from external
sources.
2.6 Resources expended
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in
trading activities that raise funds.
Charitable activities and governance costs are costs incurred on the company's educational
Page 30

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accounting policies Icontinuedl
2.6 Resources expended {continued)
operations, including support costs and costs relating lo the governance of the company apportioned
to charitable activities.
Resources expended are accounted for on an accruals basis, inclusive of any VAT which cannot be
recovered.
Expenditure on grants is recorded once there is an unconditional commitment lo pay the grant or the
grant has been paid, whichever is the eadier.
Certain expenditure is directly attributable to specific activities and has been apportioned to the costs
of those activities as follows".
Management and administration costs- by reference to the total income generated by each project.
Staff costs- by reference lo the estimated lime spent by staff on each project.
Premises costs and office costs- by reference to the estimate floor space land related room rental
value) occupied by each project.
Expenditure on charitable activities is incurred on direclly undertaking the activities which further the
Group's objectives, as well as any associated support costs.
2.7 Fund accounting
General funds are unreslricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the company and which have not been designated for other
purposes.
Designated funds comprise unreslricled funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial statements
Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by
donors or which have been raised by the company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes lo the financial slalements
2.8 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capilalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate
that the carrying valLJe of any fixed asset may not be recoverable. Shortfalls between the carrying
value of fixed assets and their recoverable amounts are recognised as impairments. Impairment
losses are recognised in the Statement of financial aclivilies.
Tangible fixed assets are initially recognised al cost. After recognition, Ljnder the cost model, tangible
fixed assets are measured al cost less accumLJlaled depreciation and any accumulated impairment
losses. All costs incLJrred lo bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Page 31

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accounting policies Icontinuedl
2.8 Tangible fixed assets and depreciation Icontinuedl
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straighl-line method.
Depreciation is provided on the following bases..
Freehold propety
Long-term leasehold propety
20/0 Straight line
Straight line over term of lease or 2¥0 slraighl
line
25D/D straight line
25D/D straight line
25D/D straight line
25D/o straight line
Plant and machinery
Motor vehicles
Fixtures and fittings
Office eqLJipmenl
2.9 Other investments
Fixed asset pr(￿raMMe related investments (loan bookl are accounted for on the basis of estimated
net realisable valLJes li.e. capital amounts recoverable) at each balance sheet date. Interest
receivable on these investments is recognised within the Statement of Financial Activities when
earned.
Programme related investments are reviewed al least annualty for impairment, an adjustment is
made lo provide for amounts considered to be irrecoverable, but only once normal recovery
procedures have been followed and no further repayments have been made.
Other fixed asset investments are stated al cost.
Current asset investments are staled at market value at the balance sheet date. The Statement of
Financial Activities includes the net gains and losses on revaluations and disposals throughout the
year
lil Associated undertakings
Investments in unlisted investments are stated at cost less impairment.
2.10 Investment properties
Investment properties whose fair value can be measured reliably wlhout undue cost or effort shall be
measured at fair value recognised in profil and loss
2.11 Operating leases
Rentals under operating leases are charged to the Statement of financial activities on a straight line
basis over the lease term
2.12 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the company", this is normally upon notification of the interest paid or payable by the Bank.
2.13 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 32

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Accounting policies Icontinuedl
2.14 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.
2.15 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 Company anticipates il will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it musl provide.
Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where
the effect of the lime valLJe of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a
finance cost
2.16 Financial instruments
The Group 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 SLJbsequenlly
measured al their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.17 Significant judgements
Estimates and judgments are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed lo be reasonable under the
circumstances.
The loan book is reviewed on an annual basis for impairment based on an expectation of
recoverability of the OLJtstanding balance.
2.18 Pensions
The Group operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Group to the fund in respect of the year.
2.19 Fund accounting
General funds are unreslricled funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Group and which have not been designated for other
purposes.
Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by
donors or which have been raised by the Group for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and Ljse of each restricted
fund is set out in the notes lo the financial statements.
Page 33

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Critical accounting estimate$ and areas of judgment
Management consider there to be an element of judgement and uncertainty in determining the carrying
value of the loan debtor book. Accordingly management has assessed the performance of each debtor
based on available financial and management information. Where that information shows a net realisable
value less than carrying management recognise an impairment against said asset accordingly.
The management team routinely monitor and review loan debtors and investments on a monthly basis and
present to the directors on a quartedy basis for consideration. Provision for identified recovery issues are
made on a case by case basis with additional provision to reflect historic loss rate experience.
The Trustees have undertaken sensitivity analysis on Groups net assets and its ability lo withstand further
macr(Feconomic impacts. An increase in the provision equivalent lo 50/0 of the gross loan book Ic£295kl
would not prevent the Charity from retaining ils going concern and continued viability. As at December
2022, an extraordinary addition lo the balance sheet would change the Group's net assets to c£200k.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Donations and other voluntary income
258,942
258,942
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
Donations and other voluntary income
24,159
586,068
610,227
Income from charitable activities
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Health and communities
Finance and enterprise
Young people
1,460,339
100,310
1,460,339
127,538
27,228
Total 2022
1,560,649
27,228
1,587,877
Page 34

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Income from charitable activities {continued}
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
Health and communities
Finance and enterprise
Young people
7,224, 192
7,224, 192
191,602
44,611
191,602
44,611
Total 2021
7,224, 192
236,273
7,460,405
Investment income
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Ga￿ge rental income
Cafe rental income
other income
Interest income
5,225
13,533
6,934
5,225
13,533
6.934
40
25,696
40
25.736
Unreslrict&d
funds
2021
Restricted
funds
2021
Total
funds
2021
Garage rental income
Cafe rental income
5, 700
5, 700
14,000
14,000
5, 700
14,000
19,700
Page 35

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Other incoming resources
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Furlough income
Interest generated by programme related investment (loan
debtor bookl
Grant income
Bad debts recovered
79,536
79.536
430,484
207,296
2,272
13,176
43,706
443.660
251,002
2,272
719,588
56,882
776.470
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
Interest generated by pr(￿raMMe related investment (loan
debtor bookl
Grant income
Furlough income
Other income
36,839
96,786
66,502
212
36,839
363,905
213,157
587
267,719
146,655
375
474,749
200,339
674,488
Analysls of expendlture on charltable actlvltles
Summary by fund type
Unrestrlcted Restrlcted
funds
funds
2022
2022
Total
funds
2022
Management and administration
Finance and enterprise
Depreciation re properties
3,522,355
222
5,180
255,828
3,527,515
256.050
48.641
48,641
3,571,218
260,988
3,832,206
Page 36

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Analysis of expenditure on charitable activities Icontinuedl
Summary by fund type Icontinuedl
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
Management and administration
Health and communities
Finance and enterprise
Young people
Depreciation re properties
2,236,64T
654,358
402,268
2,236,64T
882,413
605,976
99,818
45,328
228,055
203, 708
99,878
45,328
3,338,601
531,581
3,870, 182
Exceptional items
Total
funds
2022
One off bad debt provision
In the current accounting year there is no exceptional item for bad debts as the provision has soley
accrued in line with the Groups bad debt policy.
Unrestricted
funds
2021
Total
funds
2021
One off bad debt provision
714,796
714, 796
Page 37

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
10.
Analysis of expenditure by activities
Activities
underLiken
directly
2022
Support
costs
Total
funds
2022
2022
Management and administration
Finance and enterprises
Depreciation re properties
2,977,936
256,049
48,641
549,579
3,527.515
256.049
48,641
3,282,626
549,579
3,832.206
Activities
undertaken
directly
2021
Support
costs
2021
Total
funds
2021
Management and administration
Health and communities
Finance and enterprises
Young people
Depreciab'on re properties
1, 742,069
882,414
605,975
99,818
45,328
494,578
2,236,647
882,414
605,975
99,818
45,328
3,375,604
494,578
3,870, 782
Page 38

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
10.
Analysis of expenditure by activities Icontinuedl
Analysis of direct costs
Mgmt and
admin
Young
people
2022
Health
2022
Finance
2022
2022
Staff costs
Premises costs
General office costs
Trading company expenses
Grants payable to individuals to assist with
Individuals
Bad debts write off
Publicity and advertising
Activities costs
Subscriptionslaffilialions
Motor expenses
Mobile phones
Consultancylfacilitators fees
2,015,771
70,900
59,401
769,223
54,199
222
878
2,519
198,655
48
6,417
9,746
13,559
558
15,944
15,539
407
2,977,936
256,050
Total
funds
2022
Dep'n
2022
Staff costs
Premises costs
2,069.970
71.122
59,401
769,223
3.397
198,655
6,465
48,641
9.746
13.559
558
16,351
15.539
General Offi￿ costs
Trading company expenses
Grants payable to individuals to assist with individuals
Bad debts write off
Publicity and advertising
Depreciation
Activib"es costs
Subscriptionslaffilialions
Motor expenses
Mobile phones
Consullancylfacilitators fees
48,641
48,641
3,282,627
Page 39

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
10.
Analysis of expenditure by activities Icontinuedl
Analysis of direct costs {continued}
Mgmt and
admi
2021
Young
people
2021
Health
2021
FNnance
2021
Staff costs
Premises costs
General office costs
Trading company expenses
Grants payable to individuals to assist with
Individuals
Finance income and expenses
Bad and doubtful debts
299, 785
28,477
26,850
623,064
802,680
7,846
12,133
518,112
1,048
4,321
75,221
17,888
2,618
1,233
7,829
29,038
2, 732
742,277
Publicity and advertising
Training and accreditslion costs
Activities costs
Cafe and vending costs
Subscriptionslaffilialions
Motor expenses
Mobile phones
Other costs
31
42
290
1, 186
5,065
18,515
410
11,745
194
1, 155
5,100
11,968
2,176
9, 714
5,051
9,621
726
465
43,668
Consultancylfacilitators fees
1, 742,069
882,414
605,975
99,818
Page 40

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
10.
Analysis of expenditure by activities Icontinuedl
Analysis of direct costs {continued}
Total
funds
2021
Depn
2021
Staff costs
Premises costs
General office costs
Trading company expenses
Grant payable to individuals lo assist with employment
Finance income and expenses
Bad and doubtful debts
7,695, 798
55,259
45,922
623,064
3,965
750, 106
29,038
363
Publicity and advertising
Depreciation
Training and accreditation costs
Activities costs
Cafelvending costs
Subscriptionslaffilialions
Motor expenses
Mobile phones
Other costs
Consultancylfacililators fees
45,328
45,328
6,251
18,925
71,939
1,155
16,005
60,687
71,797
45,328
3,375,604
Analysis of support costs
gmt and
admin
2022
Totsl
funds
2022
staff costs
Premises costs
General office costs
Publicity and advertising
Bank charges re loan funds
Professional fees
406,416
5,295
1,588
85
12,621
123,574
406,416
5,295
1,588
85
12.621
123,574
549,579
549.579
Page 41

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
10.
Analysis of expenditure by activities Icontinuedl
Analysis of support costs Icontinuedl
Mgmt
admi
2021
Total
funds
2021
Staff Costs
Premises costs
General costs
Publicity and advertising
Bank charges
Professional fees
426,098
4,283
22,197
229
426,098
4,283
22,197
229
6, 109
35,662
6,109
35,662
494,578
494,578
11.
Auditors. remuneration
2022
2021
Fees payable lo the Company's auditor for the audit of the Company's
annual accounts
16,000
16,000
12. Staff costs
Group
2022
Group
2021
Company
2022
Company
2021
Wages and salaries
Employer Nl
Contribution to defined contribution pension
schemes
1,856,170
150,309
1,903,415
126,838
1,509,220
121,306
1,502,295
96,729
44.718
45,569
37.597
37,033
2.051.197
2,075,822
1.668.123
1,635,457
Page 42

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Staff costs {continuedl
The average number of persons employed by the Company during the year was as follows."
Group
2022
No.
Group
2021
No.
Company
2022
No.
Company
2021
No.
Direct charitable work
Administration
92
38
92
10
18
130
130
112
102
In the current and previous accounting year, no trustees received any remuneration, benefits in kind or
reimbursement of expenses. As part of the main insurance taken out by this company, insurance is taken
out to protect the trustees against any loss arising from neglect or default of its trustees and Offi.￿rs.
One of the trustees was paid remuneration of £6,000 12021.. £6,000) in the year ended 31 March 2022
and this was paid by the subsidiary company. The remuneration paid was due to lo a Iruslee being a
director of the subsidiary company, Five Lamps Trading Limited.
Costs incurred in relation to key management personnel were £228,900 in total12021'. £173,837).
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was..
Group
2022
No.
Gmup
2021
No.
In the band £60,001- £70,000
In the band £80,001- £90,000
In the band £90,001- £100,000
Page 43

75
•)
u < < cr

o<u

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
13.
Tangible fixed assets Icontinuedl
Freehold Land and Buildings
This comprises the building known as The Youthy which was built primarily for the young people of
Thomaby. Due to the unique design of The Youthy and the purpose for which it was built, there is no
readily available method of arriving al a realistic market value. The unique natLJre of the building means
that it is difficult lo value it on a normal commercial basis. The Youthy was valued in November 2011 at
£500,000 for the purposes of securing bank facilities bul this figure is not considered to be appropriate lo
use as the carrying value in the financial statements. An alternative method is lo measure its 'value in
use, at an amount based upon expected futLJre cash flows, but this allemalive method is also considered
not to be appropriate. One further altemalive, which is more relevant to this property. is to use
replacement cost which exceeds the carrying value at 31 March 2021 of £551,00512021". £568,753). AII
in all, it is considered unlikely that The Youlhy will have suffered material permanent impairment in value
since it was originally bLJiIt and, in the opinion of the Iruslees, a carrying value based on original cost less
depreciation continues to be appropriate for accounting purposes.
At the end of the financial year the charity purchased the property known as The Five Lamps Centre
which had been leased from Slocklon BoroLJgh Council for a total cost of £14,089. The property was
revalued on PLJrchase giving rise lo a revaluation SLJrplus of £240,000. This property wll continue to be
use for it management and adminislralion and the operation of various projects.
Investment property
Included in freehold land and buildings is an investment property valued at £32,500. In the opinion of the
directors this is a reasonable estimate of the market value a131 March 2022.
If investment properties had not been revalued they would have been included at the historical cost of
£21,01412021. £21,0141.
Leasehold Land and Buildings
These comprise bNo a buildings from which the Charity rLJns part of its managemenu administration and
various projects. The terms of the leases on these properties, over which the expenditure is written off,
are as follows..
South Thornaby Community Resource Centre (Carying value- £86,51 $1
The current lease with Stockton Borough Council is for a period of 25 years from February 2000 and any
expenditure is being written off over the remainder of that period.
Page 46

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
14.
Investment property
Group
Freehold
investment
property
Valuation
At 1 April 2021
32.500
At 31 March 2022
32,500
The investment property has been valued in the 2020 accounting year by Allied Surveyors & Valuers at
£32,500 and the directors have reviewed these valuations and concur that it is based upon the key
assumptions that relate to the investrnenl portfolio and their experience of the property market al the
current balance sheet date.
15.
Fixed asset investments
Unlisted
Loan book investments
Total
Group
Cost or valuation
At 1 April 2021
Additions
6.115,440
1,872,862
12,120,827}
14.000
6,129,440
1,872,862
2,120,827)
Disposals
At 31 March 2022
5.867.475
14.000
5.881.475
Impaimient
At 1 April 2021
Charge for the year
1,943,491
198,655
1,943,491
198,655
At 31 March 2022
2.142.146
2,142.146
Net book value
At 31 March 2022
3.725,329
14.000
3,739.329
At31 March 2021
4, 171,949
14,000
4,185,949
Page 47

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
15.
Fixed asset investments Icontinuedl
Investments
in
subsidiary
companies
Loan book
Total
Company
Cost or valuation
At 1 April 2021
Additions
850.002
2,257.723
1,872,862
1523,4851
3,107.725
1,872,862
{523,4851
Disposals
At 31 March 2022
850.002
3,607.100
4,457.102
Impaimient
At 1 April 2021
Charge for the year
Unallocaled amounts
526.988
198,6S5
526,988
198,655
At 31 March 2022
725.644
725.644
Net book value
At 31 March 2022
850.002
2,881.456
3.731.458
At31 March 2021
850,002
1, 730, 735
2,580,737
Principal subsidiaries
The following was a subsidiary undertaking of the Company..
Name
Company
number
Registered office or principal Principal aetivity
place of business
Five Lamps Trading Limited
08029251
Same as the The Five Lamps
Organisation
Lending and property
management
Class of
shares
Holding
Included in
consolidation
Ordinary
1000/ts Yes
Page 48

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
15.
Fixed asset investments Icontinuedl
The financial results of the subsidiary for the year were..
Name
Income
Expenditure
ProfitllLossl
I Surplusl
(Deficit) for
the year
Net assets
Five Lamps Trading Limited
480,564
11,530,1541 11,049,590> 12,104,7581
16. Debtors
Group
2022
Group
2021
Company
2022
Company
2021
Due wlthln one year
Trade debtors
Other debtors
Prepayments and accrued income
Grants receivable
67,694
120,126
16.922
24,554
50,012
78,905
34,497
74,969
67,694
104,870
15.239
24,554
48,597
6,300
31,105
74,969
229,296
IT8,383
212,357
160,977
17.
Current asset investments
Group
2022
Group
2021
Company
2022
Company
2021
Listed investments
80
80
80
80
Group listed investments
The market value of the listed Investments al 31 March 2022 was £8012021 '.£801.
Company listed investments
The market value of the listed Investments al 31 March 2022 was £8012021 '.£801.
Page 49

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
18.
Creditors: Amounts falling due within one year
Group
2022
Group
2021
Company
2022
Company
2021
Trade c￿dItorS
Amounts owed to group undertakings
Other laxalion and social security
Pension fund loan payable
Other creditors
224,338
99,269
96,159
3,050,000
53.464
85, 749
852,276
43,057
62.123
1.517
488,368
69,165
50,208
1,689
637, 733
453,373
263,872
59,391
433,326
101,330
Accruals and deferred income
845.511
1,242,272
3.522.886
1,515, 738
The following liabilities disclosed under creditors due within one year are secured by the company..
Bank loans £Nil 12021.. £Nill.
The bank and other loans are secured by various fixed and floating charges including a first legal charge
over'The Youlhy,, Thornaby Road, Thornaby and the client loan portfolio.
Page 50

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
19.
Creditors: Amounts falling due after more than one year
Group
2022
Group
2021
Bank loans
Other loans
Accruals and deferred income
500,000
4,812,500
628.555
320,088
4,824,219
5.941.055
5,144,307
The following liabilities disclosed under creditors due after more than one year are secured by the
company".
Other loans £4,812,50012021". £4,824,818) and are split between T￿nChe A Noleholders
Icapitall and Tranche B Noteholders - £2,875,000 Icapitall.
£1,937,500
The bank loans and other loans are secured by various fixed and floating charges including a first legal
charge over'The Youthy,, Thomaby Road, Thornaby and the client loan portfolio.
None of the other loans outstanding are repayable over five years.
Page 51

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
20.
Statement offunds
Statement offunds- currentyear
Balance at
31 March
2022
Balance at 1
April 2021
Gainsl
ILo$sesl
Income Expenditure
Unrestricted funds
General Funds
101,460
3,045,436 I3,648,5001
240,004
{261,6001
Restricted funds
Finance and enterprise
513,667
84,110
{260,9881
336,829
Total of funds
615,127
3,129,546 I3,909,4881
240,1)44
75,229
Page 52

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
20.
Statement of funds Icontinuedl
Statement offunds- prioryear
Balance at
31 March
2021
Balance at
l Apnl 2020
Transfers
in/oul
Income
Expenditure
Unrestricted funds
Designated funds
Youth empowerment scheme
Growih fund
556,293
1, 108,536
f556,293J
(1, 108,536)
1,664,829
(1,664,829)
General funds
General Funds
(164,940)
3, 189,074
(4, 151,007)
1,228,333
101,460
Total Unrestricted funds
1,499,889
3,189,074 14,151,007)
(436,496)
101,460
Restricted funds
Health and communities
Employability and training
Finance and enterprise
Young people
57,201
(361,676)
(27,093)
(96,300)
170,854
{228,055)
361,676
744,468
121,298
(203, 708)
(99,818)
573,667
74,820
1427,8681
1,036,620
1531,5811
436,496
513,667
Totsl of funds
1,072,021
4,225,694
(4,682,588)
615,127
Page 53

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
20.
Statement of funds Icontinuedl
Designated funds
In prior years, the Trustees designated funds for the following purposes..
Youth Empowerment Scheme
Growth FLJnd
The Trustees have decided to release the designated funds back to the general funds lo enable maximum
flexibility for the Charity to direct its resources to where the need is greatest. The Trustees will review this
policy every year and designate funds when they see fit.
Restricted Fund$
Health and Communities
The charity operates a Homecare service, the Parkside Court Extra Care Scheme and several other
related care services with private clients, NHS and local authorities. During the year to 31 March 2021 the
Charity has benefitted from a number of grants to enhance this service and provide greater support during
the COVID pandemic.
Employability and Training
In prior years the charity has operated Employability and Training activities. These activities are now
complete and the transfer on the fund from unreslricled funds is lo clear a negative balance from an
overspend on this activity in prior years.
Finance and Enterprise
The charity operates several Financial Inclusion and Enterprise Activities. The balance on the fund at 31
March 2021 includes £500k received from Social Investment Scolland.
Young People
The charity operates a variety of Youth Services from ils youth club "The Youthy and by outreach and
community programmes. The transfer from general funds is lo clear the negative balance brought forward
on the fund which is due lo overspends in prior years.
Page 54

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
21.
Summary of funds
Summary of funds- current year
Balance at
31 March
2022
Balance at 1
April 2021
Gainsl
ILo$sesl
Income Expenditure
General funds
Reslricled funds
101.460
513,667
3.045.436 13.648.500)
84,110
{260,9881
240,004
{261,6001
336,829
615.127
3.129,546 13,909.4881
240,044
75.229
Summary of funds- prior year
Balance at
31 March
2021
Balance at
l April 2020
Transfers
in/oul
Incomg Expenditure
Designated funds
General funds
Reslricled funds
1,664,829
(164,940) 3, 189,074
(427,868)
1,036,620
(1,664,829)
1,228,333
436,496
f4, 151,007)
(531,581)
101,460
513,667
1,072,021
4,225,694
(4,682,588)
615,127
22. Analysis of net assets betsveen funds
Analysis of net assets betsveen funds - current year
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Tangible fixed assets
Fixed asset investments
900,665
3,739,329
32,500
1,852,471
1845,5101
15,941,055)
900.665
3,739,329
32,500
2,189.300
{845,5101
15,941,055)
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
336,829
Totsl
1261,6001
336,829
75.229
Page 55

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
22.
Analysis of net assets between funds Icontinuedl
Analysis of net assets between funds - prior year
Unrestricted
funds
2021
Restricted
funds
2021
Total
funds
2021
Tangible fixed assets
Fixed asset investments
Investment propety
Current assets
Creditors due within one year
Creditors due in more than one year
686,877
4,185,950
32,500
1,582,712
11,242,272)
15,144,307)
686,877
4, 185,950
32,500
2,096,379
(1,242,272)
f5, 144,307)
513,667
Total
101,460
513,667
615,127
23.
Reconciliation of net movement in funds to net cash flow from operating activities
Group
2022
Group
2021
Nel expenditure for the year las per Statement of Financial Activities}
1779,899}
(456,894)
Adjustments for:
Depreciation charges
Decreasellincreasel in debtors
Increase in creditors
48.696
{35,117}
384,192
45,327
10,283
449, 734
Net cash provided byllused inl operating activities
1382,128}
48,450
24.
Analysis of cash and cash equivalents
Group
2022
Group
2021
Cash in hand
1,959,924
1,977,915
Totsl cash and cash equivalents
1.959,924
7,917,915
Page 56

THE FIVE LAMPS ORGANISATION
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
25.
Analysis of change$ in net debt
At 1 April
2021 Cash flows
At 31 March
2022
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Liquid investments
1,917,916
11,6901
15,144.3071
80
42,009
173
1,959,925
11,5171
1168.193} 15,312.5001
80
3,228,001) 1126,011) I3,354,0121
26. Controlling party
Throughout the year the Charity was under the control of the board.
27. Related party transactions
The charity owns 1 OOQ/o of the share capital of Five Lamps Trading Limited, company number 08029251.
Transactions be￿een Five Lamps and Five Lamps Trading Ltd during the year were as follows..
During the year Five Lamps Trading gifted £NIL 12021.. £Nill as a donation lo The Five Lamps
Organisalion.
28. Assets and Liabilities held as an intemiediary agent - group and charity
The Private Housing Financial Assistan￿ Programme was created lo help local authorities in the north
east of England lo provide loans lo needy homeowners for the purpose of helping them lo improve their
housing conditions.
Five Lamps was appointed to manage the above Programme on behalf of 12 local authorities, using
Sunderland City Council as the contracting authority.
Five Lamps holds the relevant funds on behalf of the local authorities in a designated client bank account.
This asset and the associated liability lo the local authorities are excluded from Five Lamps, Balance
Sheet. There is a debenture agreement dated 12 October 2010 in favour of Sunderland City Council solely
in respect of these funds. This debenture does not apply lo any other Five Lamps assets.
At 31 March 2022, the funds held on the above client bank account lolalled £1,391,969 12021..
£1,421,374) and this is returnable lo the local aulhorilies.
The accounting for these assets and liabilities are presented in notes 15,18 and 19 within these financial
slalements.
Page 57