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| the evangelical Library
eee ee eee : Financlal Statements
| Sere ee . Forthe year ended 30 June 2022
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Charity Registration Number: 1040175
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Trustees’Report ag Statement of Financial Activities os 5 ne BalanceSheet i. eu a a: oo oo Notestothe Accounts : | VAL
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Report of the Trustees for the YearEnded
UbtanyThe Trusteeshaye pleasure in submitting their report and the financial statements of the fortheyearendéd30June2022, Referenceand Adminitrative Betas GatewayMews, Ringway, Bounds Green, London,N14 2UT.
AS ivers BRayrisford a oo DREBHa Mir Stephenson tappointed 27/9/24) Sean MEN Hopkins & oe “ ree ColBV Underwood acne
The Evangelical Ubrary is a Trust, constituted and governed by its Trust Deed (dated 6 June 1994), _ 0 0 and adrnlnisteredby ItsTrustees, New Trusteesare appointedon the invitation of the existing
_ Phe Charity’s alms are to provide a resource of bothhistoricaland contemporary evangelical Terature for the Christian public, andi to support similar libraries in other countries. Publi Bente 2011____The tsteesobjectivesconfirmandthatactivities they haveundertaken complied bywith the Library-arethe requirementswith the publicof sectionbenefitin 17 of _the Charitiesmind: The Act to have dueregard to the public benefit guidahce published by the Charity Commission for a | ee = ee The Ubrary’s modern facilities continue to enable ‘the Library to provide a valuable service to the |. beenmunlty, with its anique collection ofbooks and manuscripts available for-use by its. members and membersofthe public. ee : |
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ee eee eweniieliemy "| Report ofthe Trustees forthe Year Ended 30June 2022 (continued) The pandemic continued to have a significant effect on the Library; Although the Library didnat __ fveto close to readers during the accounting year, thenumber of readers significantly declined. As a result, there was a potential loss of income due to this decline, * » Qverall income for the year reduced slightly from the previous year. Overhead expenses continue ta aes. -betightly controlled.As a result, there was an operating deficitfor the year of just over £31,500 _ 42021 deficit: £22,500), as shown In the Statement of Financial Activities on page 4. The trustees |> Continueto look for ways toincreasethe dayto dayIncomeof the library in the years'to. come, with a¥lewto achieving a break aven without being dependent onlegacies. It ls the policy. of the trustees to maintain sufficient funds to enable them to continue to expandthe ig | Work of the Library. The Trustees consider the current level of[reserves][ to][ be][ adequate] far this
The
charity's activities expose it to a number of financial risks includingcash flow risk, credit risk
ee Tha Chatity’s activities do.not expose itto the financlal risks as commitment to expenditure (s only
The Charky's principal financial assets are bank balances. The Charity does not have a credit risk as |.~ hase tradereceivables,The credit risk on liquid funds and derivative financial instrumentsIs limited because thecounterpartiesare banks with high crediit-ratings assigned by international _.. Inerderto maintain liquidity funds are only committed when available. }
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The trustees areresponsiblefor preparing the Trustees‘ Annual Report and the financial statements _.-laccordancewith applicable law and United Kingdom Accounting Standards (United Kingdom
25
_ Reportofthe Triste forthe Year Ended 30 une 2022 continued) = ae The lawapplicableto charities in England and Walesrequites -Matements the trustees toprepare financial ATE ___ for eachfinancial year which give a true and fair view of the stateof affairs ofthe : _.. Shatity.and of the Incoming resources and application of resources of the charityfor that year. In op Preparing these financialstatements, thetrusteesare requiredtos = —..& Sbserve the methads.and principles in the Charities SORP; - . so |eee Makejudgmentsand estimates that arereasonableand prudent; | oe ._ ee state whether applicable accounting standards have been followed, subject to any _*Pfehare MePartures disclosed and explained in the financial statements; and a es the accounts on @ going concern besis unless it ls Inappropriate topresume thatthe ehatitywill continue in business, Egg e aoe me __ The trusteés are responsible for maintaining proper accounting records whichdisclosewith = "+__ feasonable accuracy at any time the financie| position of thecharity and to enable them toensuré that the accounts comply with the Charities act 2011, and the provisions of the trust deed. Theyare alse responsible for safeguarding the assets of the charity and hence for taking reasonable steps for | ie __ the prevention and detection of fraud arid other irregularities, | “os | ne
_eTTheDARRERYEannual reportNewas approved by the trustees af the charityonalowen (Zh andaignedoneee
|) Satanendent tacintiecs ®issicc esse | ee _ Independent Examiner’s Repartto theTrusteesof The Evangelical Library Library Be i
| of The Evangelical Library Library Be Sab Bact — Uieporton theaccauntsof the charity for the year ended 30 June 2022, whith are setouton RespectiveThe responsibilitiesof trustees and Independent examiner — charity's trustees are responsiblefor thepreparationof the accounts. The chatity's trustees : {the Gonsider that an audit isnot required for this year (under sectioti 144(2) of the CharitiesAct2011 Act)) and that an independent examination ie needed. Veee t e | 2 —___& Examine the accounts under sectian 145 of the Act a ,—-.* EommissionersTe follow the proceduresuntier sectionlaid145down(5) (b) ofin thethe GeneralAct; and Directions a givenEgatby theaCharity ee * Te state whether particular matters have come to my attention. ok wk Basis| of Indapendentexaminer's report Syd ge CS Getiiissioners,MY examination wasAn examination carried out includesin accordancea reviewwithofthetheGeneralaccounting Directions recordsgiven kept bybythethe Charity charity =|0 anyahd’sunusualcomparisonitemsofor thedisclosures accounts inpresentedthe accounts, with thoseand therecords, seekingIt also of explanations from inclides consideration of you as , Mtustees concerning any suth matters. The procedures undertaken do not provide all the evidencethehestatementbelow,@ccountsthatpresentwould bea required“true.ang infaleanview”audit andand, the consequently, report is fimitedrio opinion to those| Is given mattersTE as tosetwhetherout enin | Independentexaminer’sstatement = , lg }have: completed my examination. |confirm that nomaterial matters have come to my attention .,.+ liveonneetionwith the examination which gives me cause to billleve that in, any matertal respect: a - © «thetheaccountsacqguntingdidrecordsnot accordwere withthenat keptaccounting in accordance withtecords) sectionof 130 ofthe Charitiesoo Act: of ce ne _ + the accounts did nat comply with the applicable requirements concertiing the form and content ou | Of accounts set oyt inthe Charities (Accaunts and Reports) Regulations 2008 other than any -. Fequirementthat the accountsgive a ‘true and fair’viewwhich Is nota matter consideredas part : -"ofanindépendentexamination, = es ee haveno concerns and have come across no other matters 'to-which in connection with the examination «| - theaccountstoattentionbe reached,should be drawnIn this reportco inpeorder to enable a proper understanding| of - = B08Cooke.MA(Oxon) FCA FCIE oe, . DavidCooke&Co | | | wep BanburyOx1esDs ate eal +] %3 eS
|The Evangelical brary.eee ee
| ee funds Funds Total |
=Total |
|---|---|
| Income fromcharitable activities 3937% a _—Tetalincomingresourees, Ee |
3013 . |
| Meebo oa Pare © Biendltureonratsing ands OW = wag— |
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| _Uiveatued gaionimestment ante) |
angen) |
| _—TetelFundsbrought forward 4039037081,406595 |
199300 |
984,053 984063
3,990
oe
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Geileel gece cc AMG RB 2708 A OBT a7 Cees Habliitlessamountsfallingdue ee ee eer aa 23843178
Euegat.995
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eee ee MeBeangetieatubrary sett hee Sade __Notes to the Finanelal Statements for the Year ended 30 june 2022 , : ___ Simmary of significant accounting policies and keyaccounting estimates ae |. The foltawing accounting policieshave been used consistently in dealing with [terns which are ; —Bansidered!material to the charity's financial statements, Be StatementThe of compliance : ____ finainelalstatementshave heen prepared in accordancewith Accounting and Reporting by . eeSf Gharitfes:lreland(publishedStatement 2016)ofRecommendedand the CharitiesPracticeAct applleable2011, ‘The in charity the Unitedopted Kingdom andto early adopt Republic Bulletin = included.a _, } published on 2 February 2016 and has therefore not — cash flow statement inthese = financlalstatements, Mage ot Pe The acrounts have heen prepared under historical cost unless otherwise stated in the Meountingpolicynotes ow ue PS os Ces Be As, at the time of approving the accounts, the Trustees have areasonable expectation that the. oe __ Sharity has adequate resources to continue in operational existence for the foreseeable future, they continue to adopt the going concern basis:of accounting in preparing the accounts. ah neomerecognition= Sone OAs
8 reeelvable basts, which Is when the charity becomes entitled to the resource. Income Tax .. Gredits assoclated with Gift Ald donations are accaunted for at the time of the net gift, Investmentincome is recognised when réceivable, fo Expenditure>Managemeonof raisinginvestments fu n ds; andtthesethose areincurred costs in tradingIncurred inactivitiesattractingthatvoluntaryraise funds, Income, the |oe "Ghatitable activities Expenditure: this comprises allexpenditure directly related to theCharity’s work. tincludes both costs that can he allocated directly to such activities and those costs of | : an_ indirect nature necassaryto support them including support and governance costs. The sharity Isvregisteredfor VAT and is partially exempt. irrecoverable VAT is shown separately on SheStotement of Financial Activities, a EEE ig hah
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Me Rvansalicalbary EEE ESB _"Natesto the Financial Statementsfor the Vear ended 30 june 2022 (continued) ... « Preehald Premises and books camprising the Library are shown atcost. Itis the Library's policy Be—_RBRtY Malhtaln its property to a high standard. Becaligeof this, the property has anestimated — Ife of more than 50 years, and accordinglyno provision for depreciation is made, The ee Rronerty 1s subject to regular review to consider whether any impairmentin valuehas occurred. : The books are not subject to depreciation, as the collection as heritage a whole is deemed tobea Depreciationasset with on indefinitelife. The valuation is reviewed for impairment annually. as is provided on all other assetscalculated towrite oe off cost ofvaluation fess residual _Walue‘over the estimated useful life on a reducitig balance basis Abeta at the follawing aririual rate: oe —__. eee | Depreciation rate a Equipment, furniture andfittings re eee, eee eee 2 Trade debtors are amounts due from customers for merchandise sold inthe ordinary course of = business. Trade debtors are recognised initially at the transaction price, aoe Gashand cash equivalents comprise cashon hand and are subject to an insignificant risk of os
"Trade 4 treditors are obligations topay forgoodsor services thet have been acquired in the _ if otdittarythecharitycoursedoesof businessnot havefroman unconditionalSuppliers, Accounts right, atpayablethe endareof the classified reportingas current year, toliabilities defer Settlement9 of the creditor for atleast twelve months afterthe reporting date, Trade creditors. ate recognised initially at the transaction price, spite of ek he gE Ee a Unrestricted income funds aregeneralfunds that are available foruseatthetrustees’ discretion Restricted income funds are those donated for use in a particulararea or for specific purposes, theuse of which is restrictedto that area or purpose. Gen ges
-ae _. Apvestments tevaluationsofareinvestments are inclided at Market charged value or at credited the year to end.the Statement Gains andof losses Financialan disposalActivities, and
| NotestotheAccounts for theYearended30June2022(com,) ee |
|---|
| ———— Donations Ssubssrintions= tetas agoa |
| Maenae a _.Salssoflectures, books,etc, = ggg 6819143638 HMRC Purloughscheme 2: m3 |
| ee eee i Reticecharaesee 2662 35200 0 _Ratesandinsurance= ate 18,424 153800 7MeaningER ee -Renaltgandmaimenance = nk27930 1849 - TeephoneRime cae:ana t |
| Computer costs RMB 2415 2489 Sundry expentes gp 237000 4 _Mecovermbie WaT ag 89 Depreciation aga 4927 42020 |
8 .a. a Q | : ; & Unrestricted Restricted 2092 set Gross Series including pension costsre 7) cee ee : No___fer tsteethe year ordlrectly any persanor indirectlyconnectedfromwiththe themcharity'sreceived, funds (2024,or js due én) toreteive,: anyremunerationAs=
ee Premises furniture ee eee 887,770 32,801 68,421 gap ooAdditions a . a e pe DIOR ae So se AO a 8002 53,0020 = Biimingtedon disposaleee ee eee Beenie eee AgetaQiune202200 ee$4009. eee Nethookvalue 42S” ee AES RO Be Sn Be ee ee887,270_32,801___anee snes 15,410392,934,063935990 eles ees Unrestricted Restricted 2022 20240 "Debtors7 & accruedincome oe tege g 1692 662” WaTRefunddue ag cree S46— Prepayments 3696 0. 3,436 3,005 o
_ Netestathe Accounts forthe Veer ended 30,une 2022 (cont) =
| Market valueat{July2021 zzapg= ayaamaaagog Dea gaan |
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