Charity registration number 512619
Company registration number 01630317 (England and Wales)
HOUSE OF LIGHT TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
HOUSE OF LIGHT TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
W Bell
S Macredie
C Charnley (Chair)
J Vout
J Millea
Secretary
J Millea
Charity number
512619
Company number
01630317
Registered office
The Cornerstone
115 Doncaster Road
Rotherham
S65 2BN
Independent examiner
Natalie Bracey FCA
Europa Link
Sheffield Business Park
Sheffield
S9 1XU
HOUSE OF LIGHT TRUST LIMITED
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Statement of cash flows
7
Notes to the financial statements
8 - 15
HOUSE OF LIGHT TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in January 2015.

Objectives and activities

The charity's aims and objectives are to provide homes in the community where people with learning disabilities, which may include mild physical impairment, are encouraged and assisted to live their lives to the full. Residents live in either a large home accommodating eight adults, or in one of two smaller homes, housing a further seven adults in total. The residents participate in the running of the homes, according to ability, but all take pride in helping and planning their own lives. Residents own individual choices regarding all aspects of daily living are encouraged including clothing, outings, holidays, room furnishings etc. The staff assist and support as appropriate. A key ethos of the trust is to promote a community environment within its homes.

 

The Trust provides a safe, secure and caring environment for very vulnerable adults within a unique community ethos.

 

Its principal source of funding is Rotherham Borough Council (RMBC) which pays weekly fees for residents that it places with the trust. The occupants of the large home continue to be regarded as residents, with the Trust receiving funding for a full residential care package. The occupants of the two smaller homes are now regarded as tenants, with the Trust receiving funding for social care and support, the tenants paying for their own living costs out of their personal income and benefit.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

The charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

Achievements and performance

The Trust aims to operate at full occupancy.

 

The Care Quality Commission continues to be satisfied with the standard of care provided in all of the trust's homes, as demonstrated by the outcomes of ongoing assessments and inspections. The trust was judged to be assessment compliant by Rotherham Metropolitan Borough Council, with very positive feedback during the assessment process, maintaining the very high regard the local authority holds of the Trust.

HOUSE OF LIGHT TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Financial review
The trustees are satisfied with the financial management over the financial year.

It continues to be the policy of the charity that unrestricted funds that have not been designated for a specific use should be maintained at a level to ensure that, in the event of a drop in occupancy and the associated reduction in income, it will be able to continue current activities whilst consideration is given to ways in which additional funding might be raised. Moving forward reserves will be monitored and replaced as appropriate.

The financial results are set out on page 5. The charity has made a surplus in the year of £22,692 (2023 - £8,424 surplus) and as at 31 March 2024 the charity held restricted reserves of £nil (2023 - £12,200) and total reserves of £382,377 (2023 - £359,685).

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.

 

Factors affecting the Trust’s performance are as follows:

 

The trust will aim to maintain full occupancy and its programme of planned maintenance of the buildings and contents will continue.

 

The Trust will monitor and evaluate the effects, both positive and negative, of implementing supported living on all stakeholders of the trust. This will help to inform future considerations regarding any potential change to supported living for the residents of the large home, a decision which would have implications for the property.

 

The Trust will continually review its governance processes, in particular the role of directors in providing more formalised support and challenge to the Chief Executive and the management team. This will help to define the role ready for the recruitment of additional directors with specific expertise.

Structure, governance and management

The charity is a company limited by guarantee without share capital and is a registered charity. The charity is governed by its Memorandum and Articles of Association.

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:

W Bell
S Macredie
C Charnley (Chair)
J Vout
J Millea

None of the trustees have 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.

HOUSE OF LIGHT TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

There is a Board of trustees, who meet regularly, and a standing finance sub committee, with other sub committees and House Support groups meeting as required by the Board.

 

All sub committees report back to the full Board who have the power to make final decisions.

 

The Chief Executive Officer is the overall manager of the trust and the registered manager of the Cornerstone, assisted in the latter by an operational manager. The two small homes share one separate registered manager who also has operational management responsibility for the small homes. Deputies are in place to assist each operational manager.

Where new trustees are appointed they receive an induction which includes the aims and objectives of the trust and the responsibilities of trustees.


Trustees are encouraged to keep up to date on changes to their responsibilities.

Asset cover for funds

Note 14 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity's obligations on a fund by fund basis.

Disabled persons

The charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

The trustees' report was approved by the Board of Trustees.

C Charnley (Chair)
Trustee
Dated: 9 December 2024
HOUSE OF LIGHT TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF HOUSE OF LIGHT TRUST LIMITED
- 4 -

I report to the trustees on my examination of the financial statements of House of Light Trust Limited (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Natalie Bracey FCA
Europa Link
Sheffield Business Park
Sheffield
S9 1XU
Dated: 26 November 2024
HOUSE OF LIGHT TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
464
-
464
11,934
-
11,934

Charitable activities

3
781,692
-
781,692
696,108
-
696,108

Investments

4
2,861
-
2,861
784
-
784
Total income
785,017
-
785,017
708,826
-
708,826
Expenditure on:
Charitable activities
5
762,325
-
762,325
700,402
-
700,402
Net incoming resources before transfers
22,692
-
22,692
8,424
-
8,424
Gross transfers between funds
12,200
(12,200)
-
600
(600)
-
Net income/(expenditure) for the year/
Net movement in funds
34,892
(12,200)
22,692
9,024
(600)
8,424
Fund balances at 1 April 2023
347,485
12,200
359,685
338,461
12,800
351,261
Fund balances at 31 March 2024
382,377
-
382,377
347,485
12,200
359,685

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

 

All income and expenditure in the prior year related to unrestricted funds.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
HOUSE OF LIGHT TRUST LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 6 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
9
169,902
178,238
Current assets
Debtors
10
22,488
28,893
Cash at bank and in hand
212,214
173,607
234,702
202,500
Creditors: amounts falling due within one year
11
22,227
21,053
Net current assets
212,475
181,447
Total assets less current liabilities
382,377
359,685
The funds of the charity
Restricted income funds
13
-
12,200
Unrestricted funds
382,377
347,485
382,377
359,685

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 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 year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 9 December 2024
C Charnley (Chair)
Trustee
Company registration number 01630317 (England and Wales)
HOUSE OF LIGHT TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
17
37,098
14,985
Investing activities
Purchase of tangible fixed assets
(1,352)
-
Investment income received
2,861
784
Net cash generated from investing activities
1,509
784
Net cash used in financing activities
-
-
Net increase in cash and cash equivalents
38,607
15,769
Cash and cash equivalents at beginning of year
173,607
157,838
Cash and cash equivalents at end of year
212,214
173,607
HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
1
Accounting policies
Charity information

House of Light Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Cornerstone, 115 Doncaster Road, Rotherham, S65 2BN.

1.1
Accounting convention

The financial statements have been prepared in accordance 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

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 accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

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.

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 received from the provision of residential care to supported living.

 

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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Resources expended are accounted for on the accruals basis.

HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 9 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings
2% straight line
Fixtures, fittings & equipment
15% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
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.

1.8
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits
The charity operates a defined contributions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.
2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
464
11,934
3

Charitable activities

2024
2023
£
£
Sales within charitable activities
781,692
696,108
HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
2,861
784
5
Charitable activities
2024
2023
£
£
Staff costs
631,796
557,375
Depreciation
9,688
8,758

Other costs

117,348
130,969
758,832
697,102
Share of governance costs (see note 6)
3,493
3,300
762,325
700,402
6
Support costs
Support costs
Governance costs
2024
2023
£
£
£
£

Other costs

-
3,493
3,493
3,300
-
3,493
3,493
3,300
Analysed between
Charitable activities
-
3,493
3,493
3,300

Activities undertaken directly include payments to the accountant of £3,480 (2023 - £3,300) for independent examiners fees, which can be found in Governance costs and £865 (2023 - £865) for other services, which can be found within other costs for charitable activities.

7
Trustees

None of the trustees (or any persons connected with them) were remunerated or reimbursed for expenses during the year.

HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
8
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Carers
24
24
Trustees
5
5
Total
29
29
Employment costs
2024
2023
£
£
Wages and salaries
563,910
515,416
Social security costs
41,964
28,448
Other pension costs
25,922
13,511
631,796
557,375
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The total amount of employee benefits received by key management personnel is £130,040 (2023 - £117,422).

HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
9
Tangible fixed assets
Land and buildings
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
345,279
100,353
31,789
477,421
Additions
-
1,352
-
1,352
Disposals
-
(23,681)
-
(23,681)
At 31 March 2024
345,279
78,024
31,789
455,092
Depreciation and impairment
At 1 April 2023
181,910
85,910
31,363
299,183
Depreciation charged in the year
6,898
2,684
106
9,688
Eliminated in respect of disposals
-
(23,681)
-
(23,681)
At 31 March 2024
188,808
64,913
31,469
285,190
Carrying amount
At 31 March 2024
156,471
13,111
320
169,902
At 31 March 2023
163,369
14,443
426
178,238
All fixed assets are used for direct charitable purposes.
10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,615
18,735
Prepayments and accrued income
8,873
10,158
22,488
28,893
11
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
9,089
5,452
Other creditors
7,897
9,024
Accruals and deferred income
5,241
6,577
22,227
21,053
HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
12
Retirement benefit schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £25,922 (2023 - £13,511).

13
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2023
Resources expended
Transfers
At 31 March 2024
£
£
£
£
RMBC Grant
12,200
-
(12,200)
-
Previous year:
At 1 April 2022
Resources expended
Transfers
At 31 March 2023
£
£
£
£
-
600
(600)
-
RMBC Grant
12,800
(600)
-
12,200
12,800
-
(600)
12,200

The RMBC Grant was recieved to help purchase 54 Doncaster Road. Transfers out are because there is no longer a restriction on the property.

 

14
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
Transfers
At 31 March 2024
£
£
£
£
£
General funds
347,485
785,017
(762,325)
12,200
382,377
Previous year:
At 1 April 2022
Incoming resources
Resources expended
Transfers
At 31 March 2023
£
£
£
£
£
General funds
338,461
708,826
(700,402)
600
347,485
HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
15
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
Fund balances at 31 March 2024 are represented by:
Tangible assets
169,902
-
169,902
Current assets/(liabilities)
212,475
-
212,475
382,377
-
382,377
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
166,038
12,200
178,238
Current assets/(liabilities)
181,447
-
181,447
347,485
12,200
359,685
16
Operating lease commitments
Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
2,027
2,697
Between two and five years
3,267
5,227
5,294
7,924
HOUSE OF LIGHT TRUST LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
17
Cash generated from operations
2024
2023
£
£
Surplus for the year
22,692
8,424
Adjustments for:
Investment income recognised in statement of financial activities
(2,861)
(784)
Depreciation and impairment of tangible fixed assets
9,688
8,758
Movements in working capital:
Decrease/(increase) in debtors
6,405
(585)
Increase/(decrease) in creditors
1,174
(828)
Cash generated from operations
37,098
14,985
18
Analysis of changes in net funds

The charity had no material debt during the year.

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