## **THE VERWER / HESSION TRUST** ## **TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2023 to 31 December 2023. ## **OBJECTIVES AND ACTIVITIES** ## **a. Policies and objec�ves** The Trust holds the copyright to all books, both audio and hard copy formats for materials by Roy Hession and George Verwer. The purpose of the Trust is the ‘Advancement of Chris�anity’: ‘ _To proclaim and further the Gospel of God concerning His Son, Jesus Christ and the preaching of the Chris�an Faith around the world.’_ The Trust will con�nue to expand the worldwide distribu�on of VHT books. ## **b. Ac�vi�es for achieving objec�ves and the financial posi�on** The Trust made grants and dona�ons totalling £4,007 during the year ( _2022: £nil_ ). ## **c. Main ac�vi�es undertaken to further the Charity’s purposes for Public Benefit** The Charity relies upon royal�es from publishers, but also gi� income to con�nue its work, to provide grants for the produc�on, publishing and distribu�on of literature wri�en by Roy Hession, Revel Hession, George Verwer and others. The books which are printed, or permission given around the world for others to print, are inspira�onal in helping to improve character and personal faith. They also, when printed in minority languages, become very helpful in providing quality reading to those who wish to improve their literacy understanding. ## **ACHIEVEMENTS AND PERFORMANCE** ## **a. Key financial performance indicators** Income comes from Dona�ons and Royalty Receipts, and these determine the level of grants awarded during the year, whether for Book purchase or Publishing. There are no Restricted Funds, and all monies can be used for unrestricted purposes. ## **b. Review of Ac�vi�es.** ## _**George Verwer (Founding Trustee): Born 3rd July 1938, Died 14th April 2023**_ 1 David Ost (Chair) wrote, _“Following a short illness, our dear brother George Verwer has been ‘called home’ – surely hearing those words ‘Well done, good and faithful servant’. We thank God for this man, who has been such a living example of what it means to be a true servant of God, never feeling he was someone special, frequently expressing surprise that the Lord could use a ‘ragamuffin’ such as him. George began well, ran well, and has now finished well. We acknowledge the immeasurable contribu�on of Drena and family, who sacrificed so much to support George. We also recognise the invaluable contribu�on of Vera, his faithful PA for over 43 years. George, we honour you, giving God all the glory.”_ George Verwer's _Thanksgiving Service_ was held on Saturday 17th June 2023 at the Emmanuel Centre in London: h�ps://www.omusa.org/gv-memorial/ Prior to George’s death, and with his agreement, the Trust agreed to change the name of the Charity from the _‘Roy Hession Book Trust’_ to the ‘ _Verwer / Hession Trust’_ . This change was agreed by the Charity Commissioners in April 2023. The Trust con�nues to send out **Newsle�ers** , but with only three this year. There was no ‘ _Winter’_ Newsle�er due to George Verwer’s death. Our database is now at 460. The Trust was ac�ve in facilita�ng the publica�on and reprints of books in several languages, where permissions and advice were required: **Hong Kong** ( _Calvary Road_ in Cantonese), **Nigeria** ( _Calvary Road_ in Hausa), the Trust paid Euros to **Austria** for a _Roy Hession_ print-run in Europe, gave permissions to the Bible Ins�tute in **Albania** for ‘ _Hunger for Reality_ ’ and _‘Revolu�on of Love’._ Later in the year, Trustees agreed to print **English** edi�ons of fve _George Verwe_ r books, and funding was given to the Armenian Ministries to print ‘ _Calvary Road_ ’ in **Armenian** . Trustees also gave permission for the ‘ _Calvary Road_ ’ in **Russian** (in PDF only). **Royal�es** also came through from _CLC Korea, CLC Colombia_ and _CLC USA._ **Gi�s and Dona�ons** con�nue to rise this year, with more monthly gi�s coming in. In May, the Trust had a Zoom mee�ng with Harley Rollins of the _Great Commission Fellowship_ regarding funding via gi�s from the USA. The first gi�s came in December 2023 (Paid in January 2024). During early 2023, Trustees agreed a new CAF Bank **mandate** with revised Trustee names. Drena Verwer graciously agreed to be the Patron of the Trust. The Trust held **three Trustee mee�ngs** during the year, two in London (June and October) and one online in November. At the June mee�ng, the Trustees began the development of a forward strategic long-term plan. There were two other mee�ngs in Birmingham prior to the Trustee mee�ng. At this October mee�ng, Trustees agreed to review Trust working arrangements, looked at the _‘Purpose, Stock, Documenta�on, Publishing, Website and Finance’_ areas of the ministry, and also 2 agreed books and/or permissions from _OM Books India, OM Brazil, OM UK, Albanian and OM Malaysia._ The Chair discussed the new VHT website which is now underway. At the Online mee�ng in November, Trustees looked at the ‘ _Future of the Board_ ’. A poten�al new Trustee was also considered - _Lindsay Brown_ , who will come in the next Trustees mee�ng in January 2024 as a guest. **Chairperson** - David Ost will re�re as _‘Chair’_ at the next June 2024 Trustees mee�ng, having completed ten years as Trustee and Chairperson. David will be really missed by the Trustees, and the Trustees will now need to find a new ‘ _Chair_ ’ shortly. ## **FINANCIAL REVIEW** ## **a. Going concern** During the year the Trust received a total of grants, dona�ons and other income of £56,084 ( _2022: £38,437_ ), it has made grants and incurred other expenses of £22,466 ( _2022: £18,697_ ) resul�ng in a surplus of £36,134 _(2022: £21,870_ ). The Trust has incurred a surplus for the year ending 31 December 2023 of £36,134 ( _2022: £21,870_ ), and has total reserves carried forward of £62,481 ( _2022: £26,347_ ). ## **b. Reserves Policy** The Trustees plan to keep 3 – 6 months es�mated expenditure in reserve to cover unforeseen cash flow issues or other unexpected costs. For 2023 this would mean a figure of between £14,650 and £29,300; as at the end of 2023 the actual figure was £62,281 which exceeds the required level of reserves. The Trustees are mindful not to let the level of unused reserves increase unnecessarily and will discuss ways to ensure any surplus funds are u�lised in fulfilling the mission of the organisa�on. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **a. Cons�tu�on** The Trust is governed by a Board of Trustees and was established by the _Declara�on of Trust_ dated 19 October 1993. It is registered with the Charity Commission – Reg. No. 1031304 . The Trust changed its name from the ‘ _Roy Hession Book Trust’_ to the ‘ _The Verwer/Hession Trust’_ early in 2023, and agreed by the Charity Commissioners. The Trust website is: _h�ps://verwerhessiontrust.org/_ ## **b. Method of appointment or elec�on of Trustees** The Management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. 3 ## **c. Organisa�onal structure and decision making** The Board meets regularly to discuss the Charity’s affairs. The Board will, on occasions, ask various people to a�end its mee�ngs to discuss certain aspects of the Charity requiring specialist knowledge. ## **d. Risk management** The Trustees have assessed the major risks to which the Charity is exposed, in par�cular those related to the opera�ons and finances of the Charity and are sa�sfied that systems and procedures are in place to mi�gate our exposure to these major risks. ## **PLANS FOR THE FUTURE** ## **a. Future Developments** The Charity will con�nue to promote the _Roy Hession_ �tles, and the key ac�vity of expanding the distribu�on of _George Verwer’s_ books, and the tremendous ministry legacy alive around the world. ## **DAVID OST** Chair of the Verwer / Hession Trust 4 9 May 2024 ## **Independent Examiner’s report to the Trustees of the Verver/Hession Trust Charity Registra�on Number 1031304** I report on the accounts for the year ended 31 December 2023 which are set out on the pages following. ## **Respec�ve responsibili�es of the Trustees and Independent Examiner** The charity’s trustees are responsible for the prepara�on of the accounts. The charity’s trustees consider that an audit is not required for this year under sec�on 144(2) of the Chari�es Act 2011 (the 2011 Act) and that an independent examina�on is needed. It is my responsibility to - Examine the accounts under sec�on 145 of the 2011 Act; - Follow the procedures laid down in the General Direc�ons given by the Charity Commissioners sec�on 145(5)(b) of the 2011 Act; and - State whether par�cular ma�ers have come to my a�en�on. ## **Basis of Independent Examiner’s Statement** My examina�on was carried out in accordance with the General Direc�ons given by the Charity Commission. An examina�on includes a review of the accoun�ng records kept by the charity and a comparison of the accounts presented with those records. It also includes considera�on of any unusual items or disclosures in the accounts, and seeking explana�ons from the trustees concerning any such ma�ers. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those ma�ers set out in the statement below. 5 ## **Independent Examiner’s statement** In connec�on with my examina�on, no ma�er has come to my a�en�on: - (1) which gives me reasonable cause to believe that in any material respect the requirements - to keep accoun�ng records in accordance with sec�on 130 of the 2011 Act; or - to prepare accounts which accord with these accoun�ng records have not been met; or - (2) to which, in my opinion, a�en�on should be drawn in order to enable a proper understanding of the accounts to be reached. Yours sincerely Martyn Burt B.Sc.(Hons), ACMA, CGMA adventus accoun�ng solu�ons Ashby Acres Chapel Lane Ashby-cum-Fenby Grimsby DN37 0QT e-mail: martyn.burt@b�nternet.com or adventusaccoun�ng@b�nternet.com Telephone: 07523 6229679 6 THEVERWER/HESSION TRUST (FORMERLY KNOWN ASTHE ROY HESSION BOOKTRUST) STATEMENTOF FINANcIALA￿1VITlEs FOR THE YEAR EN[￿D 31 DECEMBER 2023 Total Funds 2Q3 rotal Funds 2022 Unrestrirted Funds Note INCOME FROM: Donatlons and legacles Donations Royalty income Inte rest 56,084 2,4 5&084 2,4 38,437 2,116 14 TOTAL INCOME 61K) EXPENDITURE ON: Charitsble aclivities Support Costs Governance Costs 20,655 1,811 20,655 1,811 16,gJ9 1,&8 TOTAL EXPENDITURE 22 466 NEf INCOME /(EXPENtXTURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES 36,134 36,134 ,870 NE[ MOVEMENT IN FUNDS 36,134 3Q134 ,870 RECONCILIATION OF FUNDS: Total funds broughtforward 26,347 26,347 4,477 TOTAL FUNDS CARRIED FORWARD 62 481 ￿481 The notes on the following pagesfomi part of these financial statements. IHE VERWERIHESSION TRUST (FOlaMERLY KNOWN AS IHE ROY HESSION BOOK TRUST) E4iANCE SHEEr ASAT31 DECEMBER 2023 2023 Note CU RRENTASSETS Cash at bankand in hand 6L540 26,722 Debtors L331 CREDITORS: am￿ntS falling due within oneyear 390 375 N￿CURRENTASs￿S N￿A55 CHARITY FUNDS Unrestricted funds 62,481 26,347 TOTAL FUNDS The financial statements were approved Iw the Trustees on and signed on theirbehalf, by.. Mr David Osi Chairrnan The notes onthe following pa8esform part of thesefinancial statements THE VERWEVHESSION TRUST (FORMERLY KNOWN AS TPE ROY HESSION BOOK TRUST) NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER f23 2 SUPPCf4T COSTS ActlvRIos Tatal 21r23 lotjl 2LY22 Book graits Offi ce costs Websi te B8nkcharges Publiaty Travel W*es and sal¥ies 4,C07 3316 1246 1253 275 96 2, TS2 198 iio iio 570 570 IZ880 12,445 655 3 GOVERNANCE COSTS Independentexaminers fee Trusteesexpensesreimbursed 390 375 421 1,421 1323 L811 1,811 698 4 TRANSACTI(JISWITH CONNECTED PNRTIES Duri ng the year, no Trustees recei ved any remuneration12022- EfjOI Duri ng the year, no Trustees received any benefi ts i n kind12022- £NI LI 3Trustees received rembursement of trwel and other expenses amcunting to El,421 12022- 3 trustees: El,3231 5 STAFF COSTS Staff costs wora as follows: Tatal 21r23 TotL712022 w￿eS and salwies The werage numberof perscns employed by the charity duri ng the yearwas as follows: Tctal 2￿23 TotJl 2022 Admini strati on No employee received remuneraticn arnounting to mC￿e thai £60,000 in eltherYe￿. THEVERWERIHESSI￿I TRUST (FORMERLY KNOWN AS THE ROY HESSION BOOKTRUST) NOTES TOTHE FINANCIAL STATEMENTS FOR THEYEAR ENDEO 31 OECEMBER 2023 6 DEBTORS Total 2023 Totol 2022 Donati on f rom Great Com mi ssl on Foundati on L381 a31 7 CREDITORS: Amounts f alling due within one year Total 2023 Totol 2022 Other taxation and soclal securlty Other creditors Accruals and deferred Income 390 315 390 315 8 STATEMENT OF FUNDS STATEMENT OF FUNDS. CurTent Year Balance at 31 December 2023 Balance at lJonuary 2028 Income Expenditure Unrestrirted funds General Fund 26, 847 58,600 122, 4661 62,4SL STATEMENT OF FUNDS. Prioryear Bolonce at 31 Oecember 2022 Bolonce at l Jonuory2022 Incorne Expenditure Unre$trlctedfund$ GenerolFund 4,477 40,567 118,697} 26,347 9 Analysis of Net Assets Between Funds Total 2023 Total 2022 Curre nt asse ts Creditors due within one year 61871 (390) 25, 722 (375) All f unds In both years are unrestrlcted There ire no restricled funds 10