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 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 102)” (as amended for accounting periods commencing from 1 January 2016)
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To advance the Christian religion for the benefit of the public in the area of benefit.
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 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.
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 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 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 2022 to those in need of extra support and/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 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 organisation to support this outreach within the prison.
We collaborated with Magherafelt Methodist Church to do a combined community BBQ, inviting the residents of Wesleyan 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.
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 to 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.
A team 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 Christmas shoe box gifts to children in communities overseas.
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.
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:
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.
I report to the trustees on our examination of the financial statements of The Lighthouse (Magherafelt) Ltd. (the charity) for the year ended 30 November 2023.
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 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 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 Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
state whether particular matters have come to my attention.
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 Charity Commission for Northern Ireland under section 65(9)(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 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 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 (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.
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. is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 42 Luney Road, MAGHERAFELT, Co Londonderry, BT45 5JW.
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 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 financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
At the time 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 continue to adopt the going concern basis of accounting in preparing the financial statements.
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.
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.
All expenditure is accounted for on an accruals basis and had been classified under headings that aggregate all costs related to the category.
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.
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 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, 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 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 method.
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-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
None of the trustees (or any persons connected with them) received any remuneration during the year.
Insurance
Praise leaders
Food events
Gifts
Bank charges
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
There were no disclosable related party transactions during the year (2022 - none).