THE SALIGHT FOUNDATION LIMITED ANNUAL REPORT AI¥D FINANCIAL STATEMENTS FOR THE YEAR ENDED 31- DECEMBER 2024 Company Registration Number: N1035732 Charities Registration Number: NICJ05155
THE SALIGHT FOUNDATION LIMITED ST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3] DECEMBER 2024 CONTENTS Pages Report of the Trustee Independent examiner's report Statement of Financial Activities (incorporating income and expenditure account) Staten]ent of Financial PositionlBalance Sheet Cash Flow Statement Notes to the financial statements 9-12
THE SALIGHT FOUNDATION LIIVllTED REPORT OF THE DIRECTOR (INCORPORATING TRUSTEE'S REPORT) The Director (who is also the trustee) are pleased to PTesent their annual report together with the f]nancial statement5 of the charity for the year endino 31 DeceTnbei 2024, which are prepared to meet the requirements for a director's Teport and accounts for Companies Act purposes. The directors have adopted the provisions of the Companies Act 2006 and Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP - FRS102), in PTeparing the annual report and flnancial statements of the charity. Financial revieiv and fund5 policy During the year the Charity's total income was £2,428, with its expenses totalling £34,769. The net outgoing resources for the year amounting to £32,341 as shown in the statement of financial activities on page 6 have been deducted from the COTnpany's fund5. At the year end the Charity had £62,294 of cash funds available for distribution. The company plans to continue its activities in the forthcoming years. Objectives and Activities (and how they deliver public benefit) The Objects of the Charity are: To promote the benefit of the inhabitants of Northern Ireland without distinction of sex, sexual orieJ)tation, race or of political, religious OT Other opinion by associating together with the said inhabitants and the local authorities, voluntary and other organisations in a common effort to relieve poverty and advance education and to provide facilities in the interests of social welfare for the recreation and leisure-time occupation with the object of improving the condTtions of life for the said inhabitants. To advance the Christian religion. The main aim of the Charity is to reach out to both individuals and charities in the local community and practically express God's Love. The Charity financially supports organisations whose objective is to advance the Christian faith without prejudice or discrimination. As a result of this financial a5515tance, and the endeavour5 of the eTnployees of the Charity, we believe that we positively iTnpact and improve lives of both individuals and families for the better. The Charity and its employees are willing to help anyone who finds themselves in hardship or distress. This in turn allow us to witness and share our Christian faith, and through this, lives are improved. People move away from poverty, addiction and deprivation to live new lives and come to know Jesus Christ. One of the objectives of the Charity is to promote the benefit of the public of Northem Ireland by associating with local authorities, voluDtary and other organisations including churches in a common effort to relieve poverty, to advance education and to provide facilities in the inteTests of social welfare for recreation and leisure time occupation. This is achieved through assisting people from areas of Social and economic deprivation both financially and practically as well as encouraging children and adults to develop as individua15 and become active members of the community thereby incre&sing feelings of confidence and self-worth. It also seeks to provide children, young people, adults and elderly members of the community with the opportunity to take part in recreational and creative events which is a direct benefit to individuals by providing a platforni for people to interact, socialise and build relationships with their peers.. this is also an indirect benefit for the public as there is an improvement in social behaviour. The Charity will also meet the public beT]efit by seeking to advance the ChTlStian faith which will be a direct benefit to people and an indirect benefil to the public due to the teaching of moral standards. This strengthens families and encourages individuals to become more active citizens and make better lifestyle choices leading to a reduction in homele5sne55, addiction and poverty. Please note we hereby confinn that there is no private benefit or potential harm from the objects of the Charity. The Trustee has had regard to the Charity Commission's Public Benefil Tequirement.
THE SALIGHT FOUNDATION LIMITED REPORT OF THE DIRECTORS (continued) Referenee and administrative details Registered charity name.. Charity CommissTon registration number- HMRC charity reference.. Company registration number.. Principle office and registered office= The Salitsht Foundation Limited NIC105155 XR27703 N1035732 42 Tully Ro Ballymena. County Antrim BT44 8DG. Directors and Trustee of the Company The director who held office during the year. and in the period since 31 December 2024 to the date of these accounts were approved, was as follows.. Mrs Lorraine Wright Structurey governance and management The Company is a charity limited by guarantee without share capital. The Company is governed by its Memorandum and Articles of Asso¢Tation dated 3 March 1999. In the event of the Company being wound up members are required to contribute an amount not exceeding £1 O. The Board is responsible for the overall govemance of the Company and is actively involved in the day-to-day management of the organisation. Directors are appointed in line with the Memorandum and Articles of Association of the company. The Board of Directors are also known as Trustees for the purposes of the Charity Commission. Risk management The directors have conducted a review of the major risks to which the charity is exposed. Financial risk 15 reviewed on a monthly basis having due regard to ongoing income and expenses. Statement of director's responsibililies The director's (who is the trustee of The Salight Foundation Limited) is responsible for preparing the director's report and the fmancial statements in accordance with applicable law and regulations. Company law requires the diTectors to prepare financial Statements for each fmancial year. Under that law the diTectors have prepared the financial statements in accordaT)ce with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Siandards and applicable law). Under Company law the directOTS musl not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming Tesources and application of resources. including income and expenditure for that period. In preparing these financial statements, the diTectOTS are required to- select suitable accounting policies and apply them consistently. observe the methods and principles iv] the Charities SORP-FRS 102. make judgements and accounting estimate5 that are reasonable and prudent. state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the fmancial statement- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
THE SALIGHT FOUNDATION LIMITED REPORT OF THE DIRECTORS (continued) Statement of director's responsibilities (conlinued) The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the fmancial statements coTnply with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the charitable company and hence for taking TeasoDable steps for the prevention and detection of fraud and other irregularities. Funds held as custodian trustee on behalf of other5 The charity does not hold any funds on behalf of others. Small Companies provision statement This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Aci 2006. Approved by the Board on 26 September 2025 and signed on its behalf by: Lorraine Wright
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF THE SALIGHT FOUNDATiof4 LIMITED I report on the accounts for the year ended 31 st December 2024 which are set out on pages 6 to 12. Respective re5ponsibililie5 of trustee and examiner The charity's trustee is responsible for the preparation of the accounts. The charity's trustee considers thal an audit is not required for thi5 peTiod under section 65{2) of the Charitie5 Act (Northern Ireland) 2008 (as amended) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 65(3) of the 2008 Act- to follow the Procedures laid down in the general Directions given by the Charity Commission under section 65{9)(b) of the 2008 Act. and to state whether particular matter5 have come to tny attention Basis of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. My examination included a Teview of the accounting record5 kept by the charity and a coJnpaTison of the accounts presented with those records. It a150 included consideration of any unusual item5 or disclosures in the accounts, and seeking explanations from you as charity trustee concerning any such matters. My role is to state whether any material Tnatters have COTne to my attention giving Tne cause to believe: That accounting records were not kept in accordance with seclion 63 of the Charities Act 2. That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirevnents of the Charities Act That there is further inforniation needed for a proper understanding of the accounts to be reached. Independent exaffliner's st2tetnent I have completed my examination and have no concerns in respect of the matters (l) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Peter Stevenson Mernber of the Institute ofchartered Accountants in Ireland Stevenson and Wilson 22-30 Broadway Avenue Ballymena BT43 7AA 26 September 2025
THE SALIGHT FOUNDATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT ST FOR THE YEAR ETr4DED 31 DECEMBER 2024 Unro%tricted Funds 2024 Total 2024 Total 2023 Note Incoming resources Interest received 2,428 2,428 392 Total income 2,428 2,428 392 Resources expended Charitable activities Support costs Governance costs 27,383 7,238 J48 27J83 7,238 148 49,418 4,324 91 Total expenditure 34,769 34,769 53,833 Net movement in funds {32J41) {32J41) {53,441) Reconciliation of funds: Total funds brought forward 164,635 164,635 218,076 Total funds carried forward 132,294 132,294 164,635 The statement of fmancial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. The notes on pages 9 to 12 fonn part of ihese accounts.
THE SALIGHT FOUNDATION LIMITED ST STATEMENT OF FINANCIAL POSITION / BALANCE SHEET AS AT 31 DECEMBER 2024 Note 2024 2023 Current assets Debtors Cash at bank 70,000 62,294 132,294 165,635 165,635 Creditors: amounts due within one year 1,000 Net current assets 1,000 Total net assets io 132,294 164,635 Unrestricted funds General funds Total unrestricted funds 132,294 132,294 164,635 164,635 Total charity funds 132,294 164,635 The financial statements have been Prepared in accordance with the provisions applicable to COTnpaT)ies subject to the small companies, regime under The CoTnpanies Act 2006 and with Charitie5 SORP-FRS 102. The notes on pages 9 to 12 are aT) integrnl part of these financial statelnents. The fanCIal statements on pages 6 to 12 were approved by the Board of Trustees on 26 September 2025 and signed on its behalf by= Lorraine Wright Trustee The notes on pages 9 to 12 fonn part of ihese accounts.
THE SALIGHT FOUNDATION LIMITED ST CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flow from operating activities Net outgoing resources before interest received (Increase)/decrease in debtors Decrease in creditors Net cash infloTrv froJn incorning resources (34,769) (70,000) (1,000) (105,769) (53,833) 146,250 ( 1,000) 91,417 Returns on investments and servicing of finanee Interest received 2,428 392 Net increase in cash for the year (103,341) 91,809 Cash and cash equivalents al the beginning of the year 165,635 73,826 Cash and cash equivalent al the end of the year 62,294 165,635 The notes on pages 9 to 12 forni part of these accounts.
THE SALIGHT FoufiDATION LIMITED ST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 l. Company inforlnation The Company is limited by guarantee and is Incoorated in Northern Ireland. The address of the registered office is 42 Tlllly Road, Portglenone, Ballymena, Co Antrim B T44 8DG. The fmancial statements were authorised for issue by the Board on 26 September 2025. 2. Aecounting policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows= Basis of preparatio The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)- (Charities SORP (FRS 102}), the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The accounts are prepared in sterlino which is the functional currency of the charity. The Company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at hi5tOTical c05t and transaction value unless otherwise stated in the Televant accounting policy note(s). Preparation of accounts on a going concern basis The Charity generally meets its day to day working capital requirements from its annual income. The Trustee has obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the Charity has resources to provide a reasov]able expectation that it can conlinue to meei its financial obligations as they fall due for the foreseeable future. Therefore, these financial statements have been prepared on a going concern basis. Incoming resources Donations Teceived cotnprises all cash receivable for the accountino period, including any related tax recoverable under Gift Aid. Rncotne is Tecogni5ed when the Charity ha5 established aD entitlement to the income. For donations this is typically upon receipt. Gift aid income is accrued in respect of charitable donations already receipted. Resources expended ResouTces expended are recogni5ed in the period in which they are incued. Charitable expenditure comprises those costs inCued by the charity in the delivery of its activities and seTvices to its beneficiaries. It includes both costs that can be allocated directly to such activitie5 and those costs of an indirect nature necessary to support them. Short-term debtors and creditors Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to detem)ine if there is any evidence of potential impairn]ent. Any losses arising from impaimlent are recognised in the income statement in operating expenses. Cash and cash equivalents Cash and cash equivalents include cash in hand and cash at banks. Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction price and subsequently measured at their settlement value.
THE SALIGHT FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (conlinued) 2. Accounting policies (continued) Funds Unrestricted llds are expendable at the discretion of the trustee in furtheraDce of the objects of the charity- Ef parts of the unrestricted funds are eannarked al the discretion of the trustee for a particular purpose, they are designated as a separate fund. This designation has an admlnistrative purpose only and does not legally restrict the trustee's discretion to apply the fund. 3. Critical aetounting judgements and estimation uncertainty Estimates and judgments made in the process of preparing the financial Statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustee does nol consider that there are any critical judgments made in applying the Company's accounting policies OT that there are any critical accouv)ting estimates or assuimptions which May have a significant risk of causing a material adjustment to carryinu amounts of assets and liabilities within the next financial year. 4. Analysis of income Unrestricted Funds Total Total 2024 2024 2023 Interest received Bank interest Teceived 2,428 2,428 392 Total inc0e 2,428 2,428 392 io
THE SALIGHT FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (conlinued) 5. Analysis of expenditure Unrestricted Funds Total Total 2024 2024 2023 Charitable activities Charitable donations 27,383 27,383 49,418 Support Costs Conference expenses General expenses 5,863 1,375 7238 5,863 1,375 7,238 3,286 1,038 4,324 Governance eosts Bank fees 148 148 91 Total expenditure 34,769 34,769 53,833 6. Taxation The Salight Foundation Limited is recognised as a chartty for the PUTposes of applicable taxation legislation and is theTefore not subject to taxation on its charitable activities. 7. Analysis of staff costs, trustee remuneration and expenses. and the cost of key management personnel The average number of persons employed by the company (including directors) during the year wa5 1 {2023- 1). There are no employees in receipt of employee benefits in excess of £30,000. No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity durÈng the year. There was no TemuneratioD paid to the Trustee during the year ended 31" December 2024. No expenses were incurred in respect of the TNstee. 8. Debtors 2024 2023 Loan to associated charity - Green Pastures, The People'5 Church 70,000 The loan is unsecured, non-interest bearing and is repayable on demand. 9. Creditors: amounts due Ivithin one year 2024 2023 Creditors and accrnals 1,000
THE SALIGHT FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (eonlinued) IO. Analysis of net assets Unrestricted General Total Net current assets 132,294 132,294 Net gssets at 31, Decenj ber 2024 132,294 132,294 I l. Funds of the Company At3J DeceJnber 2024 At l January 2024 Income Expenditure Unrestricted funds General fund 164,635 164.635 2,428 2.428 (34,769) (34,769) 132,294 132,294 Total funds 164,635 2,428 {34,769) 132,294 12. Financial instruments At the balance Sheet date, the Company held the following financial instruments= 2024 2023 Financial assets that aTe debt instruments measured at amortised cost 132,294 165,635 Financial liabilities measured al amortised cost 1.000 13. Related party transactions There were no payments made, or expenses TeimbuTsed, to the Trustee during the year. 14. Capital commitments The company had no capital commitments at the balance sheet date (2023: none). 15. Controlling party During the year The Salight Foundation Limited was under the control of the Trustee (who is also the director). 12