Company Registration No. N1634638 (Northern Ireland) ids chartered accountants THE LIGHTHOUSE {MAGHERAFELT) LTD. ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids chartered accountants CONTENTS Page Legal and administrative informatio Trustees, report Independent examinerfs report Statement of financial activitles Balance sheet Notes to the financial statements 8-12
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids chartered accountants LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrA Campbell Mr G Stewart Secretary MrA Campbell Charity number 106467 Company number N1634638 Reglstsred office 42 Luney Road MAGHERAFELT Co Londonderry BT45 5JW Independent examlner IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG Bankers First Trust Bank 78 Wellingion Street BALLYMENA CoAntrim BT43 6AF
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids chartered accountants TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2022 The trustees present their annual report and financial statements for the year ende(t 30 November 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Compani@s Act 2006 and "AccoLtnting 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)" (as amended for accounting periods commencing from 1 January 2016) CbjeGtives and activtties The charitys objectives are.. 1. To advance the Christlsn religion for the benefit of the public in the area of beneflt. 2. Associating together the said inhabitants and the local authorities voluntary and other organisations in the area of benefit in a common effort to relieve poverty and advance education 2nd to provide facilities in the interests of welfare with the object of improving the conditions of life for said inhabltants. Th& Lighthouse is a fellowship of believers whose purpose is to know God through a personal relatlonship with Jesus Christ. We equip believers through discipleship for works of seNice and strive to reach the unreached ccmmunity with the Saviour's love by offering support, friendship and love. i trusLee8 have paid due regard to guidance Issued by the Charity Commission in deGiding what actlvlties the 2rty should undertske. Grant maklng pollcy Tr.=sa i'iho joumey with us generously financially support our outreach opportunities in addition to hands on help as ed. In addition, we recelve regular updates from the local Council with informatlon on grants that are available. As a Felloviship we seek out opportunities for grants and will apply to those that Nve feel can be supportive of our '. K and in agreement of our aims and objectives. In addition, we seek aut support from local businesses for help "liL&h collecting items for our food hampers each Christmas. Achlevements and pèrformance Ministry The Lighthouse Fellowship continues to meet tiCe a week, on Wednesday nights for bible study and in unity with other believers on Friday mornings for prayer for our community and land. We also meet every 34 weeks on Sunday around the Word and to share a meal together. As in previous years we gathered together in unity with believers from other fellowships on Good Friday morning on Sliev@ Gallion mountain to pray over the community. Anyone is welcome to attend any of our gatherings.
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids chartered accountants TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 Local Community Outreach Community Outreach is a large part of what we do and continues to be the heartbeat of our fellowship. We continued to offer support and show love within the community throughout this financial year. Examples this year include.. Over go food hampers were given out just prior to Christmas 2021 to those in need of extra support andlor encouragement. This effort was supported by folks wilhin the Fellowship and we also reIVed additional support from local businesses and Council. A ministry team continued their work with Maghaberry Prison offering support and encouragement to the prisoners. Due to restrictions at the Prison at the start of this financial year, we were unable to visit the prisoners in person, however we continued to connect with the prisoners via Zoom, phone calls and handwritten cards and visited with men who had been released. We were able to resume in person work within both Maghaberry and Magilligan Prisons in June 2022. The Fellowship also collected 1,061 bags of mlni eggs for all of the prisoners and staff in Maghaberry which were delivered to the Prison and distributed by Prison Chaplaincy the week before Easter. We supported Healing the Land's outreach in May 2022 when a message of hope and peace was shared by Paul Maguire in Maghera. We have practically offered assistance to people throughout the community by offering pastoral care, transportation to medical appointments, assistance with home appliances and furniture. In addition we also provided 8SSlStance with grass cutting and yard clean up where needed. As a Fellowship we visited Stanton H8althcare, Belfast lo leam more about their work supporting mothers who have chosen life for their babies, we also had the opportunity to pray with their staff in person. Through weekly updates from Stanton we continue to pray as a fellowship for their work and the families they serve. Through our outreach in the community we continue to refer people to Christians Against Poverty (CAPI and local food banks. Overseas We Continue to actively support the ministry work in Dancu, Moldova financially. In addition, teams were sent this year to offer spiritual encouiagement to the Church and community as well as practically offering training, adv1 and repairs to new and existing buildings. Our Fellowship once agaln supported the Samaritan's Purse online shoe box appeal to provide Christrnas shoe box gifts to children in needy communities overseas. Financlal revlew The results for the year and the charily's financial position at the end of the year are Shown in the 8ttached financlal statements. The ch8rity generated a deficit of £87 in the current financial year. The trustees continually assess the level of reserves to ensure they are able to meet any upcoming commitments that could arise. It is our policy that unrestricted funds which have not been designated for a specific use should be maintained at a level of three months operating expenditure. The trustees believe that this level wll ensure that if in the event of a significaT)t drop in income will allow us to maintain our current level of operation while we give consideration into ways in which additional funding can be raised. The trustees have assessed the major risks to which the chartty is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Structure, govemance and management Tre charity is a company limited by guarantee not having any share capital. The trustees, who are also the directors for the purpose of company law, and who served dur(ng the year and up to the date of signature of the financial slatements were.. MrA Campbell Mr G Stewart
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids chartered accountants TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 None of the trustees has any beneficial interest in the company. All ofthe trustees ale members ofthe Gompany and guarantee to contribute £1 in the evenl of a winding up. The Trustees, eport was approved by the Board of Trustees. Campbell Trustee Mr G Stew Trusteé Date..
THE LIGHTHOUSE {MAGHERAFELT) LTD. ids chartered accountants INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LIGHTHOUSE (MAGHERAFELT) LTD. I report to the Irustees on our examination of the financial statements of The Lighthouse {Magherafelt) Ltd. (the charity) for the year ended 30 November 2022. Responsibilities and basis of report As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accDrdance with the requirements of the GompaniesAct 2006. Having satisfied ourselves that the charity Is not subject to audit under Gompany law, and Is eligible for independent examination, it is my responsibility to: examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008. follow the procedures laid down in the general Directions given by the Charity Cornmission for Northern Ireland under section 65(9){b) of the Charities Acl. and • state whether particular matters have come to my altentlon, Independent examlnerfs statement I have examined your charity accounts as required under section 65 of the Charities Acl and our 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. The examination inGluded a review of the accounting records kept by the charity and a compartson of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to our attention giving me cause to believe: That aGGounting records were not kept in accordance with section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of section 396 of the Compani8s Act 2006 and with the methods and principles of the Charities Slatement of Recommended Practits applicable to charttie5 preparing their aGGounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further information needed for a proper understanding of the accounts to be reached. I have completed our examination and have no concems in respect of the matters {1) to (4> listed above and, in connection with following the Direction5 of the Charity Commission for Northern Ireland. I have found no matters that require drawing to your attention. Allson Wallace Chartered Accountant IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Dated: .3.ts
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids chartered accountants STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 3Q NOVEMBER 2022 Unrestrlcted Restrlcted funds funds 2022 2022 Total Unrestrlcted Restricted funds funds 2021 2021 Total 2022 2021 Notes Donations and legacies 2,137 720 2,857 1,425 800 2,225 ur Charitable activities 2,224 720 2,944 2,674 800 3,474 Net expenditure for the yearl Net movement in funds (87) (87) (1,249) (1,249) Fund balances at 1 December 2021 200 41 241 1,449 41 1,490 Fund balances at 30 November 2022 113 41 154 200 41 241 The stat8menl of financlal activltles Includes all gains and losses recognised In the year, All income and expenditure derlve from continuing activities. The statement of financial activities also Gomplies with the requlrements for an income and expenditure account under the CornpaniesAct 2006.
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids chartered accountants BALANCE SHEET AS A T 30 hlOVEMBER 2022 2022 2021 Notss Current assets Cash at bank and in hand 554 601 Creditors: amounts falling due within one year <400) (360) Net current assets 154 241 Income funds Restricted funds Unrestricted funds 41 113 41 200 154 241 The company is entitled to the exemption from the audlt requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2022. The directors acknowleclge thelr responsibilities for complying with the requirements of th8 Companies Act 2006 wlth respect to accounting records and the preparation of financial statements, The members have not required the company to obtain an audit of Ils financial statements for the year in questlon in accordance with section 476. These financial statements have been prepared in accordance with the provisions appllcable to comp8nies subject to the small companies regime. The finan I statements were approved by the Twstees on . Mr ampbell Trustee Mr G Stewart Trustee Company reglstration number N1634638
THE LIGHTHOUSE (MAGHERAFELT) LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 ids chartered accountants Accounting policles Charity information The Lighthouse (Magherafelt) Ltd. is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 42 Luney Road, MAGHERAFELT, Co Londonderry, BT45 5JW. 1.1 Accounting convention The financial statements have been prepared in accordance with the Companies Act 2006 and "Accountlng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in acctsrdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (as amended for accounting periods cornmencing from 1 January 2016). The charity is a Publlc Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Staternent of Cash Flows, The financial stslements are prepared in slerling, which Is the functional currency of the charity. Monetary amounts in these financial statements are round8d to the nearest £. The financial statements have been prepared under the histortcal cost convention.The prtncipal accounting policies adopted are set out below. 1.2 Going conGern At the time of approving the financial statements, the trustees have a reasonable expectatlon that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the tr*teeS continue to adopt the going concem basis of accounting in preparing the finanGial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. RestrScted funds are subject to specitic Gonditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. C28h donations are recognised on reipt. Other donations are recognised On the chartty has been notified of the donation, unless performance conditions require deferrsl of the amount. Income tsx recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 1.5 Expendlture All expenditure is accounted for on an accruals basis and had been classified under headings that aggregate all costs related to the category. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities Df three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 Accounting policies Icontinued) BasiG financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortiS8d cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised, Basic financial liabilities Basic financial liabilities, including creditors and bank loans are Initially recognised at transaction price unless the arrangement constilutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified 8s payable wlthin one year are not amortised. Debt instruments are subsequently carrled at amortised cost, Using the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable ar8 classified as current liablllties If payment is due within one year or less. If not, they are presented as ncn-current liabilities. Trade creditors are recognised initially at transac*ion price and subsequently measured at amortised cost using th8 effective interest method, Derecognition of financlal 113bllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
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THE LIGHTHOUSE (MAGHERAFELT) LTD. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 ids chartered accountants Support costs Support Governance costs costs 2022 Support Governance costs costs 2021 Accountancy 436 436 360 360 436 436 360 360 Analysed beeen Charitable activities 436 436 360 360 Trustees None of the trustees (or any persons connected with them} received any remuneration during the year. Charltable activities 2022 2021 Insurance Praise leaders Food events Donation to Hope Magherafelt Gifts Bank charges 228 80 984 238 994 1,108 725 49 1,160 56 2,508 3,114 Share of support costs (see note 3) 436 360 2,944 3,474 Analysis by fund Unrestricted funds Restricted funds 2,224 720 2,674 800 2,944 3,474 Forthe year ended 30 November 2021 Unrestricted funds Restricted funds 2,674 800 3,474 11
THE LIGHTHOUSE (MAGHERAFELT) LTD. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2022 ids chartered accountants Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable GainsAct 1992 to the extent that these are applied to its charitable objects. Credltors: amounts falllng due wlthin one year 2022 2021 Accruals and deferred income 400 360 Analysls of net assets between funds Unrestricted Restrlcted funds funds 2022 2022 Totsl Unrestricted Restricted funds funds 2021 2021 Total 2022 2021 FLJnd balances 8t 30 November 2022 are represented by.. Current assetsl(liabilities} 113 41 154 200 41 241 113 41 154 200 41 241 CAP Debt Centre From 2020 Hope Magherafelt Ltd {N1102799), a separate charity in the town, became the lead organisatlon for the CAP Debt Centre. The company transferred the relal8d Santander Bank account, as a donation to Hope Magherafelt Ltd to allow them to continue the CAP Debt Centre 10 Relatèd party transactlons There were no disclosable related party transactions during the year12021 none). 12-