ids. Company Registration No. N1634638 (Northern Ireland) chartered accountants THE LIGHTHOUSE {MAGHERAFELT} LTD. ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants CONTENTS Page Legal and administrative information Trustees, report Independent examiner's report Statement of financial activities BalanGe sheel Notes to the financial statements 7-10
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants LEGALAND ADMINISTRATIVE INFORMATION Trustees MrA Campbell Mr G Stewart Secretary MrACampbell Charity number 106467 Company number N1634638 Registered offlce 42 Luney Road MAGHERAFELT Co Londonderry BT45 5JW Independent examiner IDS Chartered Accountant5 LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG Bankers First Trust Bank 78 Wellington Street BALLYMENA Co Antrim BT43 6AF
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2023 The trustees present their annual report and financial statements for the year ended 30 November 2023. 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 governing document, the Companies Ad 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" las amended for accounting periods commencing from 1 January 2016) Objectlves and actlvltles 1. To advance the Christian religion for the benefit of the public in the area of benefit. 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 and to provide facilities in the interests of welfare with the object of improving the conditions of life for said inhabitants. The Lighthouse is a fellowship of believers whose purpose is to know God through a personal relalDnship with Jesus Christ. We equip believers through discipleship for works of service and strive to reach the unreached community with the Saviour's love by offering support, friendship and love. Achievements and performance Mlnlstry The Lighthouse Fellowship continues to meet twice 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 3-4 weeks on a 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 Slieve Gallion mountain to pray over the community. Anyone is welcome to attend any of our gatherings. Local Communlty Outreach Communily'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 100 food hampers were given out just prior to Christmas 2022 to those in need of extra support andl or encouragement. This effort was supported by the Fellowship and we also received additional support from local businesses and Council. We continued our weekly ministry with the men in Maghaberry Prison. As a Fellowship we also collected 1,306 bags of mini eggs for all of the prisoners and staff in Maghaberry and had the opportunity to dislribute them throughout the prison on Good Friday, when four men gave their lives to the Lord. We were blessed with not only donations from our own fellowship but we also received donations from another fellowship and organisation 10 5urJport this outreach within the prison. We collaborated with Magherafelt Methodist Church to do a combined community BBQ, inviting the residents ofwesleyan Mews. 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 assistance with grass cutting and yard clean up where needed. Through our outreach in the community we continue to refer people to Christians Against Poverty (CAP) and local food banks.
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountonts TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 Overseas We continue to actively support the ministry work in Dancu, Moldova. Two teams travelled to Dancu to offer spiritual encouragement as well as offering training and practical help. We also provided a week of respite in Northern Ireland lo two of the team members from Moldova. In addition. we received another generous donation of new school clothing and were able to send out seven pallets to support the work in the community. Ateam also went to Mongolia for three weeks in March 2023 to work alongside Mongolia VET Net. Our Fellowship once again supported the Samaritan's Purse online shoe box appeal to provide Christsnas shoe box gifts to children in communities overseas. Financial review The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Structure, governance and management The 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 during the year and up to the dale of signature of the financial statements were.. MrA Campbell Mr G Stewart None of the trustees has any beneficial interest in the company. All of the trustees are members ofthe company and guarantee to contribute £1 in the event of a winding up. The Trustee ort was approved by the Board of Trustees. MrA Trus mpbell Mr G Slewart Trustee ee Dale..
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LIGHTHOUSE {MAGHERAFELT) LTD. I report lo the trustees on our examination of the financial slalements of The Lighthouse (Magherafelt} Ltd. (the charity) for the year ended 30 November 2023. Responslbllltles and basls of report As the charity trustees (and also the directors of the company for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements ofthe Companies Act 2006. Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to.. examine the accounts under se¢lion 65 ofthe Charities Act (Northern Ireland) 2008., follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act., and state whether particular matters have come to my attention. Independent examlner's statement I have examined your charity accounts as required under section 65 of the Charities Act and our exarninalion was carried out in accordance wilh the general Directions given by the Charity Commission for Northern Ireland under section 65(9llb) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in Ihe accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any matertal matters have come to our attention giving me cause to believe= That accounting 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 Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to Charities preparing their a¢count5 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 concerns in respect of the matters (1) to14} 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. Alison Wallace Chartered Accountant IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG Dated.. .I.-.fi.-...
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2023 Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Tota I 2023 2022 Notes Income from: Donations and legacies 1,799 145 1,944 2,137 720 2,857 Total income 1,799 145 1,944 2,137 720 2,857 Expenditure on: Charitable activities 2,213 145 2,358 2,224 720 2.944 Total expenditure 2,213 145 2.358 2,224 720 2,944 Net expenditure and movement in funds (414) {414) (871 (87) Reconciliation of funds.. Fund balances at 1 December 2022 113 41 154 200 41 241 Fund balances at 30 November 2023 {301) 41 1260} 113 41 154 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants BALANCE SHEET AS AT 30 NOVEMBER 2023 2023 2022 Notes Current assets Cash at bank and in hand 140 554 Creditors: amounts falling due within one year (4001 (400) Net current Iliabilities)lassets (260> 154 Net assets (260} 154 The funds of the charity Restricted income funds Unre51ricted lunds 41 1301} 41 113 (2601 154 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2023. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not reqLrired the company to obtain an audit of its financial statements for the year in question in accordan with section 476. These financial statements have been prepared in accordance with the pr lothes I companies regime. ons applicable to companies subject hef I statements were approved by the tr &tees on Campbell ustee G Stewart ee Company registration number N1634638 (Northern Ireland)
THE LIGHTHOUSE {MAGHERAFELT) LTD. ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 Accounting poll¢les Charity information The Lighthouse {Magherafell) 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 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicab5e in the UK and Republic of Ireland IFRS 102}. (as amended for accounting periods commencing from 1 January 2016). The charity is a Public 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 Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these finanGial statements are rounded to the nearest £. The financial stalements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below. 1.2 Going concern At the lime of approving the financial statements. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees conlinue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial slatements. 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. Cash donations are reGognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. 1.5 Expenditure All expenditure is accounted for on an accruals basis and had been classified under headings that aggregate all cosls related lo the category. 1.6 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, Other short-term liquid investments with original maturities of 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 2023 Accounting policies (Continued} Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constilules 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 constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a markel rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised Cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounls payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Income from donations and legacles Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Totsl 2023 2022 Donations and gifts 1,799 145 1,944 2.137 720 2,857 Support costs allocated to activitie5 2023 2022 Accountancy 396 436 Analysed between: Accountancy 396 436 Trustees None of the trustees (or any persons connected with them} received any remuneration during the year.
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 Charitable activities 2023 2022 Insurance Praise leaders Food events Donations to Prison Ministry Gifts Bank charges 272 270 228 80 984 854 510 56 1,160 56 1,962 2,508 Share of support Costs (see note 31 396 436 2,358 2,944 Analysis by fund Unrestricted funds Restricted funds 2,213 145 2,224 720 2,358 2,944 For the year ended 30 November 2022 Unrestricted funds RestriGted funds 2,224 720 2.944 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. Creditors: amounts falllng due withln one year 2023 2022 Accruals and deferred income 400 400
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 Analysls of net assets between funds Unrestrlcted funds 2023 Restrlcted funds 2023 Total 2023 At 30 November 2023: Current assetsllliabilitiesl 13011 41 1260> 13011 41 1260} Unrestricted funds 2022 Restricted funds 2022 Total 2022 At 30 November 2022: Current assetsllliabilitiesl 113 41 154 113 41 154 Related party transactions There were no disclosable related paty transactions during the year {2022 - none). 10-