Company registration number: N1646046 Charity registration number. NIC107764 Shining Lights (A conwany limited ty guarnntee) Annual Report and FAtian¢ial Statenwnts for tbe Year Ended 31 May 2024 Hopper & Co 6 Doagh Road Ballyclare Co Antrim BT39 9BG
Shining Lights Contents Reference and AdminislTrtiv¢ Details Tnte¢s, Report 2to5 Independent Examin&s Report Statement of Financial Activities Balance Sheet 8t09 Notes to the Financial Statements IOto20
ShRning Lights Referenee Administrative Details Trustees Miss Carol Weatherall Steph¢n Blair Mr Ian Turk Charity Reglstratioll Number NIC107764 Company Registration Number N1646046 Tlke charity is incorporated in Northern Ireland. 105 HiKlhead Road BaEly¢lare Co. Antri BT39 9LN Registered Office Independent Examiner Hopper & Co 6 1)oagh Road Ballyclare Co Antrini BT39 9BG Page I
Shining Lights Trustees, Report The trustees, who are directors for the putposes of company law, present the annual report together with th¢ fmall¢ial statements of the charitable compally for the year ended 31 May 2024. ObJ¢ctiV and activities Objects and Shining Lights run soccer training sessions in schools during school hours and after school hours. Shining Lights Tun so¢¢er training sessions in the evenings and outdoor soc¢¢r match¢s on Saturdays from Septsmber to May in Ballyclar¢ for children aged seven and above. We ITaill and encourage men and women (mainly young men and women) in all areas of soc¢er coachin& building of character and leadersbip skills. During the summer months we also rdn soccer camps in Ireland and Spain. Jn the Shining Lights Centre, we Tun a Breakfast Club on a wexkly basls, a Comrnunlty Coffee morning monthly and a monthty Bible Stlldy for thirteen- to sixteen-year-olds. We ljave started a reconnect programme for the 16 plus age group once a month. During the summer months we soc¢eT, hockey and mixed sports sumnwr camps. The content of our programme involves Bible teaching, building of charactcr, encourdg¢ment, wellbeing) fitness t[Illg and teamwork. We provide fr¢e Gospel literature available zt th¢ Shining Lights Centre and give out Gospel literalure to thos¢ who attend Shining Lights events. Our prisnary objectives are to share the Gospel of the Lord 5esus Christ to children and young people in the Ial community, provide ¢onsistent Bible teachiDg aud sports coaching. The Truste¢s ar¢ watly appreGiatAve of all the organisation's financial supportors and the Continu support of their m¢mb¢rs, without whose help the charty could not fidfil Ats charAtable alti and objectives. Public benefv Shining Lights meets the public benefit requirement as follows: The direct benefits which flow from the purposes Anclude the development of sports based skills and improved health and fitness. development of improved social skills and the ability to engage in teamwork and ability to show leadership" developing an awarcn¢ss to and an understanding of the Gospel of tbe Lord J¢sus Cbrist and the Bil)l¢; development of character - spiritinlty, mordlly, emotiorjally and relationalfy, helping to live a more stable and lfilLed life. Shining Lights provides training to Voluntee thereby increasing their ability to provide voluntary service and leadership. The benefits SuIting from the work of Sbining Lights are improved health of participants. improvement in SOCAal emotional and physical wellbeing of participants" improved behaviour iti tern of their ability to live a life that Can positively contribute to society. There is no harni ariskng from the purposeg. Open to 311 Lnenthers of the public, but mainly Children aged seven and abov¢. No one gains a prkvate b¢nefiL The truste¢s confirnl that they have complied with the reqU1ments of section 4 of the Charities Act 2008 t have due r¢gard to the public benefit guidance published by The Charity Commi&8ion forNorthem Ireland. Page 2
Shilling Lights Trustees, Report Financial review PoIY on r4fervas The Trustses of the ¢lwity hav¢ established a policy whereby the unrestricted fid8 n(rt cornmitted or invested in tangible fixed assets (*he free reserves? held by the charity should amount to between 2 and 6 months worth of the resources expended which equates to betwe¢n £1,591 and £4,773 in general fimds. At this level, the Trustees fe¢1 that they would be able to continue the current activities of the charty in the event of a significairt drop in funding. however it would obviousty be necess to consider how the funding would be replaced or activities changed. At present the free res¢rves (which exclude designated funds), amount to £23243 and ar¢ above the Trustees, target rdnge. The Trustees ntinUe to work towards maintairring their free reserves larget. Going concern The trustees assess whether the use of going conrxm is appropriate i.e. ether there are any material uncertataties related to events or conditions that nmy c&st Significant doubt on the ability of the charity to continue &8 a going concern. The trustees llke this ass¢ssment in respect of & perAod of one year from the date of approval of the fmancial stat¢ments. The nature of funding is such that Tnistees cannot be certain that projected future fidIng WAII materilse. At the time of approving th¢ a¢county despite financial challenges and following assessment the Trustees have a reasonable expectation that the charity has adequate r¢sources to continue in operational existence for the foreseeable future. Thus the Trustecs continue to adopt the going concern b&8is of a¢countiog in preparing these financial statements. Trustee5 and offieers The trustees and officers serving during the year and since the year end w¢re as follows: Trustees: Miss Carol W¢athernll Stephen Blaxr (appolnted l November 2024) Mr lan Turk Mr Davia M¢Cuffi¢ (resigned l Noventh¢r 2024) Structureg governance and nvanag¢ment Nature ofgovuning document The clwity is controlled by its governing docum¢nL a deed of tru& and constitutes a limitcd company, limited by guarantee, as defined by the Companies Art 2006. Or¥anisalionalstruclure The organisation is primsrily managed by the board of Trustees. There are no employees. Page 3
Shining Lights TrnsÉees' Report Financial Éllstruments Obj¢th"ves on41policxes The charity's activities pose it to a number of fmancial risks including ¢redit risk cash tlow risk and liquidity risk. The us¢ of fu1claI derivatives is governed by the charity's policies approved by th¢ board of tn3Stee which provid¢ written principles on the use of financial derivatives to manage these risks. The charity does not use derivativ¢ financial instrunwits for spulative purposes. C&shfvw rlsk The charity's activities expose it primarily to the financial risks of ¢Ig¢S in foreign currency exchange rates and interest rntes. The charity uses foreign ¢xchange forward contracts and interest rats Swap contrncts to hedge thes¢ ¢xposures. Interest bearing ass¢ts and liabilities are held at fix rate to ellsure certainty of rash flows. Credti rtsk The charity's prinripal financial assets are bank balances and caslL trad¢ and other receivables, aud investments. The charity's credit risk is primarily attributable to its trade receivables. The amounts presentsd in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made wlJ¢re there is an identified loss event which, based on previous exp¢iience, is ¢vidence of & reduction in the r¢¢ov¢rdbilty of the cash flows. The credit risk on liquid funds and derAvative fmancial illstruments is limited because the ¢ount¢Tparties are banks with high credit-ratings a&signed by IntentIOnal edIt-ratIng agencies. Th¢ charty has no significant concentration of ctryjit ris14 with ¢xposure spread over a large number of ¢ounterparties and customers. Liqmidily risk In order to maintain liquidity to ensure that sufficient fjjnds are available for ongoing operations and fu¥Tre developments, the charity US&8 a mixture of long4erni and short-ternl debt flnance. Further details regarding Ixquidity risk can be found in th¢ Statement of accounting policies irk the fAnancial statements. Statement of trustees, rnsponsibAlitie$ The trustees (who are also the dire¢tors of Shining Lights for the purposes of company Eaw) are responsible for preparing the trsteeS, report and the fjnancial slatementy in accordance with appli¢able law and United Kingdotn Accounting Standards (United KingdoEtL Generally Accepted Accounting Piactice), iticluding FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Iland.. Th¢ report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. Company law requir¢s the trustees to prepare finaocial statements for financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a tru¢ and fair view of the state of affairs of the charitable company and of tbe incoming resources and application of resources, including its income and expenditure, of the charAtable company for that period. In preparing these fllmllci stalements, the trustees ar¢ required to". select suitable acwunting poEicies and apply them consistentty. observe the methods and principles in the Chariti¢s SORP. make judgements and estimates that are reasonabl¢ and Pn state whether applicabl¢ accounting standard4 comprising FRS 102 have been followed, subject to any material departures disclosed aud explain its the fthancial statements" and Page 4
Shinillg Lights Trnstsesl Report prepare the fmancial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for ke¢pAng proper accounting records that can disclose with Teasonable accuracy at any time th¢ financial position of the charitable company and enable them to ensure that the fjjwicial statements comply with the Compani¢s Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other I¢gularLti¢$. The trustees are r¢sponsible for the nintenance and int¢grty of the eorporate and flnancial infornation included on the ¢haritabl¢ ¢ompansRs website. Legislation governing th¢ Preparation and dissemination of financÉal statsments nwy differ from legislation in other jurisdirtions. Small Compani provlslon ststement This report has been prepared in accordancK with the small compani¢8 regime under the Compa3Ji¢s Act 2006. The annual report was approved by the trustees of the charity on 24 Febrnary 2025 and sigued on its beljalf by. Stsphen Blair Trustee Mr lan Turk Trustee Pag¢ 5
Sbining Lights Independent Examiner's Report to the trustees of Shxning Lights ('the Company,) I report to th¢ ¢harity trLeeS on my examination of th¢ a¢¢owts of the Company for the year ended 31 May 2024. Responsibilittes and basts of report As the charity's trustees of Shining Lights (and also its directors for the purposes of company law) you are r¢sponsftble for the preparation of the accounts in accordance with the r4uir¢m¢nts of the Companies Act 2006 {'tkn¢ 2006 Act,). Having satisfi¢d myself that the accounts of Shining Lights are not required to be audited under Part 16 of the 2006 Act and are ¢ligibl¢ for independent examination, I report in respect of my examination of your charty's accounts as carri¢d out under section 65(2) of the Charities Act (Northern Ireland) 2008 ('the 2008 Act,). In Carrying out my VAamination I have followed the Directkoos giv¢n by th¢ Charity Commission under section 65(9)(b) of the 2008 Act. Independent examiner's ststement I have completed my examination. I confirni that no matters have com¢ to my attention in connection with the examination giving Tne cause to belle. l. accounting records were not kqjt in respect of Shining Lights as required by sertion 386 of the 2006 Act. or 2. the a¢¢ounts do not accord with those records" or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the arwunts give a 'true and fair view, which is not a matter considered as part of an independent examination" or 4. the acwunts have not been prepared in accordance with the methods and principles of the Statsment of Recommended Pra¢ti¢e for accounting and reporting by charlties [applicable to charities pr¢parAng their a¢wunts in accordance with the Financial Reporttng Standard applicable Ill the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in comiection with the examination to whi¢h attention should be dra in this report in order to enable a proper und¢TStanding of the accounts to be reacheAa. Simo Chartered A¢wuntants Ireland 6 Doagh Road Ballyclare BT39 9BG 24 February 2025 Page 6
Shinmllg Lights Statement of Financlal Activities for the Year Ended 31 May 2024 ncludillg Income and Expellditure Aecount and Statement of Total Recognised Gains and Losses) UDre5tri¢ted funds R&¥tricted fund5 Total 2024 Note Ineome and Endowments from: Donations and legacies Other trading activities 16243 397 16243 397 Total income 16,640 16,640 Expenditlllt on: CharAtabl¢ a¢tiviti&s (9,546) (128) (9,674) Total expenditure (9,546) 128) (9,674) Net in¢ome/(expenditure) 7,094 (128) 6,966 Net movement in fimds 7,094 (128) 6,966 Reconcillatlon of funds Total fimds bmught forward 18,950 383 19J33 Totsl funds carried forward 13 26,044 Unrestricted funds 255 Restricted funds 26,299 Tota 2023 Nots Income alld Endowments from: Donations and legacies Other trading activities 5,765 3,329 5,765 3,329 Total income 9,094 9,094 Expenditure on: Charitable activiti¢s (1'1,688) (11,688) (128) (11,816 Total expendittwe Net expenditu (128) (11,816) (2,594) {128) (2,722) Net movement in funds (2,594) <128) (2,722) Reconciliation of funds Total fimds brought forward Total fijnds carried forwaTd 21,544 511 22,055 13 18,950 383 19,333 All of the charitys activitie6 derive from continuing operations during the above two periods. The fidS breakdown for 2023 is $bown in note 13. The notes on pages 10 to 20 fonn an integral part of these finalleial statements. Pag¢ 7
Shining Lights (RegistrAtion number: N1646046) Balance Sheet as at 31 May 2024 2024 2023 Note Fixed assets Tangible assets 2,411 3.587 Curreut assets Debtors Cash at bank and in band io li 23,784 16,287 16287 24.428 Creditors: Amounts fa]lillg du¢ withill Olle year Net current aets 12 (540 (541 23,888 15,746 19,333 Net &ssets 26,299 Funds of the charlty: Restricted income funds Kestricted fimds 255 383 Unrestrictsl inco]ne funds Urlrestricted funds 26.044 18,950 Total funds 13 26,299 19,333 For the f]Cial year ending 31 May 2024 the charity was entitled to exemptiott from audit under sertion 477 of the Companies Act 2006 relating to sndl companies. Dirertors, responsibilities: Th¢ tnembers have not required th¢ cbarity to obtain an audit of its accounts for the year in question in accordance with sertion 476. and The dir¢¢tors acknowledge their responsibilities for mptying with the requirements of the Act with respect to accounting Tecords and the preparation of accounts. These finaucial statements have been prepar¢d in ac¢ordan¢¢ WAth the special provisions lating to compant¢s subject to the small compallies regime within Part 15 of the Cornpanies Act 2006. The notes on pages 10 to 20 fonn an integrnl part of these fmancial statements. Pagc 8
Shining Lights (Registration number: N1646046) Balance She¢t as at 31 May 2024 The financial statements on pages 7 to 20 were approved by the trustses, and authoTAsed for issue on 24 February 2025 and signed on their behalf by. Step en Blair Trustee Mr Ian Turk Tte¢ The notes on pag¢s 10 to 20 forni an Integ[ part of these financial statements. Page 9
Shining Lights Notes to the Financial Statemellts for the Year Ended 31 May 2024 I Charity $t4tus The charity is limited by gllarantet. incorporated in Northern Ireland, and consequently does not hav¢ share capital. Each of the trustees is liable to lltrIbUte an amount not exceeding £1 towards the ass¢ts of the ¢h&rity in the event of liqui<lation. The addrcss of its iegist¢red office is.. 105 Hiljhead Road Ballyclare Co. Antrim BT39 9LN These financial statsm¢nts were authorised for issue by the trustees on 24 Febnwy 2025. 2 Accounting po]ieAes Summary of significant aeeouDting polieiu and key accounting estimates The principal accounting policies applied ID the preparation of these financial statements are set below. These policles have been CODSiStentty applied to all the years presented, unless otherwise stated. Statejnent of eomplianee The fjnancial statements hav¢ been prepared in accordan¢¢ with Accounting alld Reporting by Charrties: Statement of Recommended Practice applicable to charkties preparing their accounts in accordance with the Finallcial Reporting Standard applicable in the UK and Republic of Lrelaud (FRS 102) (effectiv¢ l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). They also comply with the Companies Act 2006 and Charities Act (Nortbern Ireland) 2008. Basis of preparatfion Shining Lights meets the definition of a public benefit entity und¢r FRS 102. Assets and liabilities are initially r¢ColSed at historical Cost ortratlsaction value unle&8 otherwise statsd in the relevant accowtting poli¢y notes. Going concern The financid statements have beLn prepared on a going concern basis. The trustees afjsess whether the use of goiDg concern is appropriate i.e. whether there are any nterIal uneertainties related to events or conditions that may ¢ast significant doubt on the ability of the charity to continue as a going concern. The trustees nuke this assesment in respect of a period of one year from the date of approval of the fJnancAal statements. Exemption Irom preparing a eash now statement The charity opted to early adopt Bulletin I published on 2 February 2016 and have Iherefore not inched a ¢ash flow statement in these fmanci21 statements. Income and endowmellts All mcoLlle AS re¢ognised once the charity has entitlement to the income, it is probable that tbe income wkll be received and the amount of the in¢ome re1vable can be rneasurd reliably. Page 10
Shining Lights Not to the Financial Statements for the Year Ended 31 May 2024 Donalions and legaci Donations are recognised wlken the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject tt) conditions that require a level of perforniallce by the chatity before th¢ charity is entitled to the fund4 the income is deferr&q and not recognis¢d until either thos¢ conditions are fully m¢L or the fijlfilment of those conditions is wholty within the control of the rl)arty and it is probable that these condttions WAII be fulfilled in the reporting perio(L Expenditure All exp¢nditur¢ is r¢cognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All ¢osts are allocated to the applicable expenditure heading that aggregate similar costs to that catsgory. Where costs cannot be directty attribut¢d to particular headings they have been allocated on a basis wnsistent with th¢ use of r¢sourc¢s, with central staff costs allOted on the basis of time sp¢nL and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charitable activilles Charitabl¢ expenditure comprise5 those costs incwred by the charity in the delivery of its artivkties and seTvices for its beneficiaries. It includes both costs that can be allocated directly to surh actiVAties and those costs of all indirect nature necessary to support them. Support costs Support costs include central fimctions and have been allocated to activity Cost categori¢s on a basis Consistent with the use of resouree4 for &Yample, allocating propety costs by floor areas. or per capit4 slaff $ts by th¢ time spent and other costs by their usage. Governance costs These include the costs attrli Jutable to the ¢harity'S Compliance with constitutional and statsttory requirements. including audi( stratsgic management and trustees meetings and reimbursed expenses. Taxation The charity is ¢onsid¢red to pass the tests set out in Paragtzph I Schedule 6 of the FinancL Act 2010 and therefore it m¢ets the d¢fmition of a charitable company for UK Corporation tax Purposes. Accordingly, the harity is POtentialFy exempt from taxation in Tespect of incom¢ or capital gains received within categories vered by Chapter 3 Part I l of the Coryoration 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 ¢haritabl¢ purposes. Taugible fixed aets Individual fixed assets costing £IOO,00 or more are initially recorded at cost. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off tb¢ cost or valuation, less any estimated residual value, over their ¢xpected useful economic life as follows: Asset dass Fixtur¢ and Fittings Deprviation mtthod and rate 200/0 Straight Line Pag¢ 11
Shinillg Lights Notes to the Finallcial Statements for the Year Ended 31 May 2024 Trade debtors Trade debtors are amounts due from customers for mer¢handise sold or seryices perfonned An the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently m¢asured at amortised cost using the effective interest metho( less provision for impairnent. A provision for the impairnient of trade debtors is established when there is objectiv¢ ¢vxdenc¢ that the ch'arAty will not be able to ¢olle¢t all amounts due according to the original tenns of the receivables. Cash 2nd cash ¢quival¢nts Cash and cash equivalents comptis¢ cash on hand and call deposits, and other shi)rt-tern] highly liquid investments that are readay convertible to a known aOt of ¢a&h and ar¢ subject to an insignificant risk of change in value. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of traIactIOn costs. [ntereSt-bIllg borrowings are subsequently carried at amortised cosL with the difference betweell the proceeds net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Artivities over the perkod of tbe relevant bormwing. Interest expense is r¢wgnised on th¢ basis of the effective interest method and is included in intsrest payabl¢ and similar charges. Borrowings are ¢1&8sified as current liabilities unless the charity h&s all unconditional rigbt to defer settlement of the liabilty for at least tw¢lve tnonths afrr the reporting date. Fund strncture Unrestricted iacome funds are general ndS that are available for use at the trnstees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use tn a particular area or for specific purposes, the e of which is restrkcted to that area or purpose. Finaneial lllstruments ClassifKation Financial assets and fjnancial liabilities are recOlSed when the charity be¢ornes a party to the contracttMI provisions of the iDStrum¢nt. Financial liabilities aud equity instruments aT¢ Classified a¢¢ordxng to the Subst¢¢ of the contracttMI arraugements entered into. An equity iustrument is any contract that eviden¢es a residual interest in the assets of the charity after deducting all of its liabilities. Page 12
Shinillg Lights Notes to the Fillancial Statements for the Year Ended 31 May 2024 Recognition and mellsuremenl AEI financial assets and liabiliti¢s are initially measured at transaction pri¢e (in¢luding transaction costs), ¢xcept for those financial assets classified as at fair value oUg profit or loss. which are initially measured at fair value (which is normally the lrnnsaction psic¢ excluding transaort costs), unless the arr8ngement ¢onstibites a financing transartion. If an arrangement ¢onstitut¢s a financing transa¢tion, the financial asset or financial liability is measur¢d at the pres¢nt value of the tUre payments discounted at a nwket rat¢ of intsrest for a slmilar debt instnllnenL Financial assets and liabilities are only offset in the statement of financial position Whe and only when there ¢xists a legally enforceable right to set off the recognised amounts and the charity iJrtends either to settle on a net basis, or to realise the asset and settle the liability simultan¢ousty. Financial assets are dere¢oksed wh¢n alld only when a) the contractual rights to the ¢aslJ tlows from the financial &sset expire or are settled, b) the tharity transfers to another paty substantialty all of the risks arAd rewards of oivnershÈp of the financial asset, or c} the clwity, desptte having rctained som¢, but not all, sÉgnifi¢ant risks and rewards ofownership, has traDsferred control ofthe asset to another party. Financial liabilities are derecognised only when Ihe obligation specified in the contract is dis¢harged, c8ncelled or expires. Page 13
Shining Lights Notss to the Financial Statements for the Yvar Elld¢d 31 May 2024 Debl Ixstruments Debt instruments which me¢t the following CA)nditions are subsequentty measured at amortised cost using the effertive intsrest rnethod: (a) The contrd¢tual relllrn to the holder is (i) a fixed amounL (u) a positive fixed rate or a positive varAabl¢ rate. or (iii) a combination of a positive or a negative fixed rate and a positiv¢ variable rate. (b) The contract may provide for rcpayments of the prfjncipal or th¢ return to the holder O)ut not both) to be inked to a single relevant observable index of general price inflation of the currency in which th¢ debt instrument is denokninated, provided such links are not l¢verage(I (c) The ¢ontra¢t nw provid¢ for a deterniinable Vdriation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies corAdition (a) and the variation is not contingent on events other than (l) a change of a contractual variable rate" (2) to protect the holder agaiDSt credit dets[lali0n of the issuer" (3) changes in Revies applied by a central bank or arising from Changes in relevant taxation or law. or (li) the new rate is a markd rats of interest and satisfies condition (a). (d) There is no contracttthl provision that coul by its tern, result in the holder lostng the Principal arnount or any intsre5t attrbi utable to the CUTrent period or prior periods. (e) Contractual provisions that perniit the issuer to prepay a debt instruKnent or perniit the hold¢r to put it back to the issuer before maturity ar¢ not contingent on tUre even other than to pfotect the holder against the credit deteriordtion of the issuer or a change in control of the issuer, or to protect the holder or issuer against clwiges in levies applied by a central bank or arising from clwiges in relevant taxatAorA or law. (fj Contrdctual provisions Inay perniit the extension of the te of the debt instriim¢nL provided that the return to the holder and any other conts7Ctual provAsions applicable during the ext¢nded temi satisfy the conditions of paragraphs (a) to (c). Debt instruments that are classified as payable or receivable wKthxn one y¢ar on initial recognition and which meet the above corjditions are m¢a5ured at the und1sllted amount of th¢ cash or other consideration expected to be paid or received, net of impament. With the exception of some hedging instruments. other debt instrurnents not m¢£ting these ¢ondAtions are me&qured at fair value through profit OT Ioss. Commilm¢nts to nmke and re¢¢Ave loans which meet the conditions m¢ntioned above measur¢d at cost (which may be nil) less impairnieTht. Inveslments Investtnents in non-convertli Ile preference shares and non-puttable ordinary or preference shares (where shares arc publicty traded or their fair value is reliably messurable) are me&sured at fair value througb profit or loss. Where fair value cannot be m¢asured reliably, invesiments are measured at Cost less inu)airmenL Tnvestments in subsidiaries and a8so¢iates are measured at cost less impairnient, For investments in subsidiaries a¢quired for consideration including the issue of shares qualifying for merger relAef. cost is measured by referen¢£ to the nominal value of the shares issued plus fair value of other Consideration. Any PTemium is ignored. Page 14
Shining Lights Notes to the Finaneial Statements for the Year Ended 31 May 2024 Derivativefmancial insfruments The Charity uses derivative financial instruments to reduce exposure to foreign exchange risk and Anterest rat¢ mov¢ments. The clwity does not hold or issue derivative financial instruments for speculative purposes. Derivatives are inÉtialty OgniSed at fair value at the date a derivaiiv¢ cotttract 1$ entered into and a Subsequently r¢m¢asur¢d to their fair value at each r¢portyng dats. Th¢ resultlng gain or Eoss is r¢¢ognis¢d in statsment of financial actsviti¢s imm¢diately wiless the derivative is desiad and effective as a hedging instrument in which event the timing of th¢ rQgnItion in statem¢nt of financial activities depends on the nature of the hedge relationship. Fair value measurement The best evidence of fair value is a quot¢d pric¢ for an identical &et in an artive nwket. When quoted prices are unavailabl4 the prA¢e of a recent trdnsaction for an identical asset provides evidence of fair value as long as there has not been a sigllRfi¢atkt change in e¢onomi¢ circumstances or a signifirant lapse of time since the transaction took place. If the nlarket AS not active and recent transa¢tions of an identical ass¢t on their own are not a good estimate of fair value, the fair value is estimated by Ing a valuation t¢chniqu¢. 3 Income from donations and legacies Unrestricted funds General Totsl nds Donations and legacies" Donations from individuals Gift aid reclaimed 15,599 644 15599 Total for 2024 16243 16.243 Total for 2023 5,765 5,765 4 Income from other trndimg actiYAties Ubrestricted funds General Totsl funds Trading income. Sales of goods and services 397 397 Total for 2024 397 397 Total for2023 3J29 3,329 Page 15
Shmnxug Lights Notes to the Financial Statements for the Year Ellded 31 May 2024 5 Expenditur¢ on charitsble aetivitles Unrestricted nds Genernl Restricted fullds Total 2024 Note Youth Sports Prograrn (YSP) Allocated support costs Gov¢rnance costs 6.025 2,959 562 6,025 3,087 562 128 9,546 128 9,674 UDrestri¢t¢d funds General Restricted funds Total 21)23 Note Youth Sports Program (YSP) Allocated support costs Governance rosts 6,368 4,680 640 6,368 4,808 640 128 11,688 128 11,816 2024 2023 In addition to the expendit(we anatysed above. there are also gov¢rnattce costs of £562 (2023 - £640) whiGh r¢lat¢ directly to charitable activities. See note 6 for further details. 6 Analysis of governance and support costs Governance c($ Unrestriet funds General Totsl funds Independent exatniner fees Exaroination of the financial statements Legat fees Total for 2024 540 22 540 22 562 562 Total for 2023 640 Page 16
Shining Ligbts Notes to the Financial Statements for the Year Ended 31 Ivlay 2024 7 Independent examiner's r¢Jnuneratio 2024 2023 Examination of th¢ financial statements 540 576 Page 17
Shining Lights Notes to the Financial Statements for.the Year Ended 31 May 2024 8 Taxation The charity is a registered charity and is therefore exempt from t&xation. 9 Tangible fixed a&%ets Furntture and equipment Total Cost At l June 2023 5,879 5,879 At 31 May 2024 5,879 5,879 Depretiation At I Julle 2023 Charge for the year 2,292 1.176 2,292 1,176 At 31 May 2024 3,468 3,468 Net book value At 31 M&y 2024 2,411 2,411 At 31 May 2023 3,587 3.587 10 Debtors 2024 Other debtors 644 11 Cash and cash equivaltnts 2024 2023 Cash at bank 23,784 16287 12 Creditors: amounts falllng due withill one year 2024 2023 Other GreditOTS 540 540 540 541 Page 18
Shining Lights Notes to the Financial Statements for tbe Y¢ar Ended 31 May 2024 13 Funds Balance at i Julle 2023 In¢omillg resoure¢s Resources expended Balance at31 May 2024 Unrestricted funds Genernl 18,950 16,640 (9,546) (128) 26,044 Restricted funds 383 255 Total funds 19,333 9,674 26,299 Balance at I June 2022 IneomiDg Balance at 31 May 2023 expend1 Unrestri¢ted funds Gen¢ral 21,544 9,094 (11,688) 18,950 Restricted funds 511 128 383 Total fullds 22,055 9,094 11,816 19,333 The specific purposes for Twhi¢h the fimds are to be applied are as follows: Equipment & Resources fvnding - A l¢gacy received to buy equipm¢Tht and r&souces to undertaken direct activxties of the charity 14 Analysis of net assets between funds Unrestricted fitAd$ General Total funds at 31 May 2024 Restricted funds Tangible fixed assets Current &8sets Current liabilities 2,156 23,784 (541) 255 2,411 23.784 (541) TotAI net assets 25,399 255 25,654 Unrestricted fuuds General Total funds at 31 May 2023 Restrieted fllnds Tangible fixed assets Current assets Current liabilities 3204 16,287 541 383 3,587 16.287 {541} Total n¢t assets 18,950 383 19,333 Page 19
Shining Lights Notes to the Financial Statements for the Year Ellded 31 May 2024 IS Related party trallsactfions There were no relat party transactions in the y¢w. Pag¢ 20