2022/23 FINANCIAL STATEMENTS
On the 30thJanuary 2025, the Trustees and Directors of the Five Lamps Organisation and the Five Lamps Trading Company, are pleased to confirm that the Reports and Financial Statements for the 18 month period ending 30th September 2023 have now been filed. Click on the links to read.
Both Boards wish to thank our stakeholders, partners and our auditors, Armstrong Watson for their support and patience whilst we resolved and filed, these suites of reports recognising these were filed late.
Whilst not ideal, the Trustees opted to file late in the anticipation of a wind down agreement being legally entered into, which would have enabled these Statements to reflect the decision to wind down our Trading Company (FLT). Unfortunately, the legals were not concluded and the statements were filed, as is, showing the Charity as a Going Concern with Material Uncertainty.
Material uncertainty is simply related to the completion of the wind down agreements, that once concluded will see the charity become a viable standalone business with a net worth of c£2m.
The Trustees are delighted to report that the Auditors confirmed the charity, excluding the wind down, demonstrated its ability to continue to deliver for a minimum of 12 months. This is particularly pleasing given the last time this was tested was December 2022 and more than 26 months later, we continue to survive.
We plan to complete the filing of the 2023/24 statements as soon as practically possible in 2025 which will be once the wind down has been formally entered into, and we are positive the material uncertainty will cease.
Our plans for 2025 to 2030, are exciting with an increased focus on our local communities. We will be:
- Growing our care at home services and support local people not only to remain independently living at home and within the local community, but to also have a voice and a choice in the care they receive.
- Continuing the expansion of services and support we provide from our Youthy and Community hub, with a focus on tackling child poverty, holiday hunger and simply being a safe space, which local young people and their families can enjoy, can learn in and can explore new opportunities.
- Continuing to deliver Conduit Loans but as a locality based CDFI (Community Development Finance Institution) supporting individuals and families across Stockton, Teesside and the North East of England.
- Investing in our people and ensuring we recruit and support local people who care about and understand the area and the services we provide.
- Developing new partnerships and striving to secure new and additional funding through donations and sponsorship; grants and service income and borrowing to support us to deliver our aims and objectives.