ids. Company Reglstratlon No. N1634638 (Northern Ireland) chartered accountants THE LIGHTHOUSE IMAGHERAFELT) LTD. ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 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 Balance sheet Notes to the financial statements 7-10
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants LEGALAND ADMINISTRATIVE INFORMATION Trustees MrA Campbell Mr G Stewart Secretary MrA Campbell Charity number 106467 Company number N1634638 Reglstered office 42 Luney Road MAGHERAFELT Co Londonderry BT45 5JW Independent examlner IDS Chartered Accountants 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 2024 The trustees present their annual report and financial statements for the year ended 30 November 2024. 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 Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" (as amended for accounting periods commencing from 1 January 2018) Oblectives and activities 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 organisalions 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 lo know God through a personal relationship 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 Ministry 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 rlleet 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 believer5 from other fellowships on Good Friday morning on Slieve Gallion mountain to pray over the community. Anyone is welcome to attend any of our gathenngs. 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 100 food hampers were given out just prior to Christmas 2023 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 1,504 bags of mini eggs for all of the prisoners and staff in Maghaberry and had the opportunity to distribute 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 organisalion lo support this outreach within the prison. In June we collaborated with Magherafelt Methodist Church to host a worship night with the visiting worship team from Tennessee. Two teams travelled to Milllown, Co Kerry (August and September) to encourage the Milltown prayer group. We have practically offered assistance lo 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 lo Christians Against Poverty (CAP) and local food banks.
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Overseas We continue to actively support the ministry work in Dancu, Moldova. Two teams travelled to Dancu this year (May and August 2024) to offer spiritual encouragement as well as offering training and practical help. We also hosted an evening with Slavic in Ditty's Bakery in Caslledawson in October which was open to all to learn more about the work being done in the Dancu community. A team went to Khovd, Western Mongolia twi (March and November 20241 lo work alongside Mongolia VET Net. The team also had multiple opportunities to share about the work in Mongolia in our local Community. Our Fellowship once again supported the Samaritan's Purse online shoe box appeal to provide Christmas shoe box gifts to children in communities overseas. Financial revlew 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 date 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 of the Company and guarantee to contribute £1 in the event of a winding up. The Trustees, report was approved by the Board of Trustees. MrAC Trustee pb Mr G Stewart Trustee 16 June 2025
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LIGHTHOUSE (MAGHERAFELT) LTD. I report to the trustees on our examination of the financial statements of The Lighthouse {Magherafelt) Lld (the charity) for the year ended 30 November 2024. Responslbilities and basis 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 of the Companies Act 2006. Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent exarllination, il 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 Commission for Northern Ireland under section 6519)Ib) of the Charities Act., and state whether particular matters have come to my attention. Independent examiner's statement I have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Chanty Commission for Northern Ireland under section 6519){b) 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. 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 matter5 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 398 of the Companies Act 2006 and with the methods and principles of the 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 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} to (41 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 1 BG Dated.. 16 June 2025
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies 1,679 220 1,899 1,799 145 1,944 Total Income 1,679 220 1,899 1,799 145 1,944 Expenditure on.. Charitable activities 1,675 220 1,895 2,213 145 2,358 Total expenditure 1,675 220 1,895 2,213 145 2,358 Net incomellexpenditure) and movement in funds 14141 14141 Reconciliation of funds: Fund balances at 1 December 2023 13011 41 12601 113 41 154 Fund balances at 30 November 2024 {2971 41 1256) 13011 41 (2601 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 2024 2024 2023 Notes Current assets Cash at bank and in hand 144 140 Creditors: amounts falling due within one year 14001 (4001 Net current liabilities 12561 (2601 Net assets 12561 (260) The funds of the ¢harlty Restricted income funds Unrestricted funds 41 1297} 41 13011 1256) 12601 The company is entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2024. 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 required the company to obtain an audit of its financial statements for the y ear in question in accordance with section 476. These financial staternents have been prepared in accordance with the provisions applicable to companies subject lo the small companies regime. The financial statements were approved by the trustees on 16 June 20 pbell Mr G Stewart Trustee Trustee Company registration number N1634638 (Northern Ireland)
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Ac¢ounting policies Charity Information The Lighthouse {Magherafeltl 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 applicable in the UK and Republic of Ireland (FRS 1021. {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 financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are sel out below. 1.2 Golng concern The trustees have assessed the charity's financial position, including its current resources, income expectations, and ongoing outreach opportunities. Based on this assessment, the trustees believe that the charity has adequate resources to continue its activities for the foreseeable future, being at least 12 months from the date of approval of the financial statements. There are no uncertainties that cast significant doubl on the charity's ability to continue as a going concern. The trustees are satisfied that the charity has reliable income streams to support its operations. 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 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. Cash donations are recognised 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 at 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 costs related lo 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 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 2024 Accountlng poll¢les (Continuedl 1.7 Financlal Instruments The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic 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 amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured al the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortssed. Baslc financial liabilitles Basic financial liabilities, including creditors and bank loans are initially recognised al 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 market 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 meihod. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts 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 al amortised cost using the effective interest method. Derecognition of financlal liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled Income frorn donatlons and legacies Unrestricted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Donations and gifts 1,679 220 1,899 1.799 145 1,944
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Support costs allocated to activities 2024 2023 Accountancy 420 396 Analysed between.. Accountancy 420 396 Trustees None ofthe trustees lor any persons connected with them) received any remuneration during the year. Charitsble activities 2024 2023 Insurance Praise leaders Food events Donations to Prison Ministry Gifts Bank charges 272 480 140 260 260 63 272 270 854 510 56 1,475 1,962 Share of support costs {see note 31 420 396 1,895 2,358 Analysls by fund Unrestricted funds Restricted funds 1,675 220 2,213 145 1,895 2,358 For the year ended 30 November 2023 Unrestricted funds Restricted funds 2,213 145 2,358 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
THE LIGHTHOUSE (MAGHERAFELT) LTD. ids. chartered accountants NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Creditors: amounts falllng due within one year 2024 2023 Accruals and deferred income 400 400 Analysls of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 30 November 2024.. Current asselsllliabilitiesl (2971 41 {256} (2971 41 {256) Unrestrl¢ted funds 2023 Restricted funds 2023 Total 2023 At 30 November 2023: Current assetsllliabilities) (3011 41 12601 (301) 41 12601 Related paty transactions There were no disclosable related paty transactions during the year (2023 - none). 10-