2023-03-31-accounts - The Sola Trust

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		Pages
Legal and Administrative Information
Annual Report ofthe	Trustees
Independent Auditor's	Report
Statement of Financial	Activities
Balance Sheet		12
Statement ofCash Flows		13
Notes to the Accounts		14

				Unrestricted	funds		2023	2022
				General	Designated		Total funds	Total funds
			Notes	6		r.	r.	6
Income and endowments		from:
Donations			2	360,495,00			360,495.00	15,525.00
Interest income
Total income and endowments				360,495.00			360,495.00	15,525.00
Expenditure on:
Charitable activities:
Individual grants payable
Theological and ministry	training			220,551.00			220,551.00	200,834.00
PhD studies				13,500.00			13,500.00	28,017.00
Other Ministry grants				15,197.00			15,197.00	7,000.24
Relief ofpoverty
				249,248.00			249,248.00	235,851.24
Institutional grants payable
Theological and ministry	training			58,051.00			58,051.00	64,034.00
Church plants				44,500.00			44,500.00	24,000.00
Other church ministry				160,500,24			160,500.24	112,000.24
				263,051.24			263,051.24	200,034.24
Management and administration			s	3,832.26			3,832.26	2,610.43
Total charitable expenditure				516,131.50			516,131.50	438,495.91
Net income/(expenditure)	before			(155,636.50)			(155,636.50)	(422,970.91)
transfers
Transfers between funds
Net income/(expenditure)	before other			(155,636.50)			(155,636.50)	(422,970.91)
recognised gains and losses
Gains/(losses) on investment		assets
Net movement in funds				155,636.50			155,636.50	422 970.91
Total funds brought forward				768630.20			768,630.20	1,191,601.11
Total funds carried forward				612,993.70			612,993.70	768,630.20

					Unrestricted	funds		2023	2022
					General	Designated		Total funds	Total funds
				Notes			8	8	r.
Current assets:
Debtors				7	74,017.25			74,017.25	28.75
Cash at bank and		in	hand		553,343.91			553,343.91	770,319.28
Shares held	for sale
Total current assets					627,361.16			627,361.16	770,348.03
Liabilities:
Creditors: amounts			falling due within
one year					14,367,46			14,367.46	1,717.83
Net current	assets				612,993.70			612,993.70	768,630.20
Total assets	less	current liabilities			612,993.70			612,993.70	768,630,20
Net assets					612993.70			612,993.70	768,630.20
Unrestricted	funds			s	612993.70			612,993.70	768,630.20

								2023	2022
									8
							Notes
Cash flows from operating	activities:
Net cash provided by (used in) operating			activities
Cash flow from investing	activities
(Investments received as giRs)
Proceeds from sale ofinvestments
Nel cash from investing activities
Cash flow from financing	activities
Change in cash and cash	equivalents	in	the	reporting	period			(216,975)	(422,907)
Cash and cash equivalents	at the beginning			ofthe reporting		period	2
Cash and cash equivalents	at the end	of	the	reporting	period		2

				2023	2022
				8	8
Net income/(expenditure)		for the reporting	period	(155,637)	(422,971)
(Gains)/losses on	investments
(Increase)/decrease	in	debtors		(73,988)	(12)
Increase/(decrease)	in	creditors		12650	76
				(22m	~2

Year	end	31 March 2023
			2023	2022
Cash	and	cash equivalents
Year	end	31 March 2022
			2022	2021
			K	8
Cash	and	cash equivalents	~770319	~1193226

4. Institutional	gr	ants	payable
				Unrestricted		funds		2023	2022
				General	Designated			Totalfunds	Total funds
				6			K		6
Theological and ministry training		grants		58,051.00				58,051.00	64,034.00
Church plants				44,500.00				44,500.00	24,000.00
Other church ministry				160500.24				160,500.24	112,000.24
Total				263,051.24				263,051.24	200034.24
Analysis by	institution
				Unrestricted		funds		2023	2022
				General 6	Designated		E	Total fundsf	Total funds 6
Theological and ministry training		grants
Broadgrace Church, Norfolk									1,500.00
Japan Christian Link									6,000.00
Living Word, International				5,000.00				5,000.00	5,000.00
REACH / CESA, South Africa				7,017.00				7,017.00	7,017.00
Friends ofJBC				15,000.00				15,000.00	15,000.00
St Luke's Church, Hampstead				3,000.00				3,000.00	11,000.00
Dagenham Parish Church									3,000.00
St Cuthbert's Church, Wood	Green			4,000.00				4,000.00	3,000.00
Trinity Church, Aberdeen				4,000.00				4,000.00	4,000.00
Grace Church, Leith									4,500.00
Gospel Training Trust, New	Zealand			5,017.00				5,017.00	4,017.00
St Paul's Church, Christchurch,		New	Zealand	2,017.00				2,017.00
Trinity Church, York				5,000.00				5,000.00
The London Project				5,000.00				5,000.00
Grace Church, Brighton				3000.00				3,000.00
				58051.00				58051.00	64034.00
Church plant grants
Grace Church, Ouston				3,000.00				3,000.00	3,000.00
Redeemer Church, Folkestone				6,000.00				6,000.00	6,000.00
St Philemon's Church, Toxteth									15,000.00
Christ Church, Salisbury				6,000.00				6,000.00
Central Church, Warrington				6,000.00				6,000.00
Japan Christian Link (Christ	Church,		Riverside)	2,500.00				2,500.00
Redeemer Church, Thanet				5,000.00				5,000.00
Christ Presbyterian Church,	Pocklington			6,000.00				6,000.00
Trinity Church Central (London)				5,000.00				5,000.00
Rochdale Evangelical Church				5,000.00				5000.00
				44,500.00				44,500.00	24,000.00

					Unrestricted	funds	2023	2022
					General	Designated	Totalfunds	Total funds
					6	6	8	6
Other church ministry
StAndrew the Great Church		(Terrington		St Clement)	8,000.00		8,000.00	5,000.00
Ridgeway Church, StAlbans								4,000.00
New Life Church, Middlesbrough
Christ Church Central, Sheflield					3,000.00		3,000.00	3,000.00
Kendray Trust					3,000.00		3,000.00	3,000.00
Brussels Bible Institute, Belgium					12,000.24		12,000.24	12,000.24
East London Tabernacle								3,000.00
Newquay Baptist Church								3,500.00
Toxteth Women's Centre					2,000.00		2,000.00
9:38Ministries								4,000.00
Cmsslands/Growing Young		Disciples			3,000.00		3,000.00	3,000.00
Faith in Public					30,000.00		30,000.00	30,000.00
Redeemer Church, Manchester					4,000.00		4,000.00	4,000.00
St Thomas' Church, Kilnhurst					3,000.00		3,000.00	3,000.00
St MattheWs Church, StLeonards-on-sea					4,000.00		4,000.00	4,000.00
St Clement, Openshaw					2,000.00		2,000.00	5,000.00
StPeters Church, Conisbrough					3,000.00		3,000.00	3,000.00
Grace Church, Haywards Heath					4,000.00		4,000.00	3,500.00
2:19Ministries					1,500.00		1,500.00	4,000.00
Alliance for Transatlantic Theological			Training					5,000.00
ReNew					10,000.00		10,000.00	10,000.00
StSaviour's Chumh, Bamber		Bridge			3,000.00		3,000.00
Layton Community Church					6,000.00		6,000.00
Christ Church, Salisbury					5,000.00		5,000.00
Christchurch, Claypath, Durham					4,000.00		4,000.00
Anglican Network in Europe					5,000.00		5,000.00
Trinity Church, Everton					2,000.00		2,000.00
Wycliffe Hall (Trinity Church,	Henley)				3,000.00		3,000.00
St Michael's Church, Fulweg					3,000.00		3,000.00
Hope Church, Halifax					3,000.00		3,000.00
Christ Church, Endcliffe					4,000.00		4,000.00
Free Church ofScotland (Continuing)					2,000.00		2,000.00
Ag Saints Church, New Longton					5,000.00		5,000.00
St Peter and St Paul's Church,		Cranfield			4,000.00		4,000.00
KirkSandall, Edenthorpe and	Bamby		Dun	Church	5,000.00		5,000.00
Impact Giving					4,000.00		4,000.00
StJohn's Wood Road Baptist		Church			5,000.00		5,000.00
Namugongo Partnership					2,000.00		2,000.00
Crossteach					3,000.00		3,000.00
					160500.24		160,500.24	112,000.24
Total institutional grants					263051.24		263,051.24	200,034.24

Net movements	in funds	in funds	for the year is stated after charging:-
				2023		2022
						E
Audit fee				~144		~14
Debtors
				2023		2022
					E	E
Amounts falling	due	within one year:
Income tax recoverable				69,017.25		28.75
Proceeds due	from	sale ofshares
Interest due
Repayments due from beneficiaries				5,000.00
Programme related		loans
						2875
Amounts falling	due	afier	more than one year:
Programme related		loans
Aggregate amounts						28.75
Creditors: Amounts		falling due within one year
				2023		2022
					E	E
Amounts payable to		beneficiaries		12,534.00
Administration	expenses		due	393	46	277.83
Accrued expenses —auditor's fee				1440.00 ~7		1 440.00