2020-12-31-accounts - Global Justice Now Trust

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GLOBAL JUSTICE NOW TRUST

( Formerly World Development Movement Trust Ltd)

(Company limited by guarantee no. 03188734 registered charity no. 1064066)

REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

GLOBAL JUSTICE NOW TRUST

(Company limited by guarantee no. 03188734, registered charity no. 1064066)

REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2020
CONTENTS
	Page
Legal and administrative information	1
Directors' report	2
Independent Auditors' report	10
Statement of financial activities	13
Balance sheet	14
Statement of cash flows	15
Notes to the financial statements	16

GLOBAL JUSTICE NOW TRUST

LEGAL AND ADMINISTRATIVE INFORMATION For the year ended 31 December 2020

Directors and Trustees	Nicola Ansell
	Sunit Bagree	Appointed 2 November 2021
	Sarah Hirom
	John Duncomb Hough
	Adrian Lance
	Roger Miller
	John Mitchell
	Maggie Pankhurst (Chair)
	Steve Rolfe	Appointed 2 November 2021
	Louise Taylor
	Andrew Taylor-Dawson	Appointed 2 November 2021
Secretary	Roger Miller
Company reg. no.	03188734
Charity reg. no.	1064066
Registered office	66 Offley Road
	London
	SW9 0LS
Auditors	MHA MacIntyre Hudson
	Statutory Auditors
	London, United Kingdom
	Barbican
	London EC2Y 5AU
Bankers	The Co-operative Bank plc
	80 Cornhill
	London
	EC3V 3NJ
	Triodos Bank UK Ltd
	Deanery Road
	Bristol
	BS1 5AS
	CAF Bank Limited
	25 Kings Hill Avenue
	West Malling
	Kent ME19 4JQ

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2020

The Directors, who are also Trustees for charity law purposes, submit their annual report and the financial statements of Global Justice Now Trust (the Trust) for the year ended 31 December 2020. They confirm that the annual report and financial statements of the Trust comply with current statutory requirements set out in the Charities Act 2011, the requirements of the Trust's governing document and the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' (FRS102).

Structure, governance and management

The Trust is a company limited by guarantee, governed under its memorandum and articles of association by a selfappointed Board whose members retire on a quinquennial cycle and are eligible for re-election. Global Justice Now has for some years been invited to nominate three Directors. Directors are selected for their knowledge and experience and new Directors are carefully briefed in the duties of Trustees, requirements of charity law, and the activities of the Trust. Thereafter the Directors are briefed on changes and are expected to keep abreast of charity requirements, and the Trust does not provide formal training.

The Directors continue to review membership of the Board, to further strengthen knowledge and skills and to improve the diversity of the Board.

The Trust directs its affairs through meetings of the Directors, and by correspondence between meetings. The Trust's income and expenditure is managed on a day-to-day basis by Global Justice Now staff, reporting to the Trust through the director at Global Justice Now and its head of resources. The Trust does not remunerate either of them. The head of fundraising, Sandra Wild is jointly employed by the Trust and Global Justice Now, and reports to the Trustees on all fundraising matters. The Trust has clearly delegated authorities for all expenditure items within its budgets; no expenditure may be made outside of the approved budgets; and no commitments may be made without the prior approval of the Directors.

The Trust directly employs fundraising staff jointly with Global Justice Now; has paid for its direct fundraising costs, and pays Global Justice Now for management and support services for these fundraising staff, who are managed on a day-to-day basis by the head of fundraising, who also works for Global Justice Now. These staff are paid on the same terms and conditions as Global Justice Now staff.

Global Justice Now also manages and carries out the work on specific charitable projects funded by restricted grants on behalf of the Trust. The Trust gives grants from its unrestricted income to Global Justice Now to carry out its main charitable campaign activity. Global Justice Now also provides administrative support to the Trust, reporting through the director of Global Justice Now. These arrangements are all monitored by the Directors.

Objectives

The objectives of the Trust are to promote studies in political, economic and social sciences and other educational subjects, disseminate such knowledge, relieve poverty globally and such other related charitable purposes as the Directors may determine. The Trust's work in 2020 was primarily directed towards the relief of poverty and related work on the protection of the environment, as more fully described under Activities, Performance and Achievements below, and was chiefly concerned with trade, aid, migration, human rights, and pharmaceuticals.

Public benefit

The Trust’s contribution to the relief of poverty and protection of the environment, together with its contribution to human rights, education and healthcare, are for the public benefit. The Directors know of no related drawbacks to the activities of the Trust, the general public is the beneficiary, the benefit is not restricted by geography or price and the poor are specifically included. The Trust confers no private benefits. Whilst deciding what activities the Trust should undertake, Directors have paid due regard to Charity Commission guidance on public benefit.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2020

Activities, performance and achievements

General

Some work on education and public events was disrupted by the impacts of the Covid-19 pandemic, which arose early in 2020. There have been some operational impacts on these projects, particularly public events, which have moved online with mixed impacts. Although some of the informal contact is lost, geographical restrictions are removed with campaigners, members of the public and southern partners able to attend meetings with relative ease. For a time distribution of printed materials was disrupted, but this has now resumed.

In the reverse direction, many issues of concern to the Trust have become more prominent. The Trust's longstanding work on pharmaceutical research and development and the deployment of vaccines and other medicines in the global south became very visible during the pandemic, showing the benefit of the Trust's work on these issues over several years.

Although there did not appear to be any significant immediate impacts on fundraising income, the exceptional levels of legacies received in 2019 were not repeated in 2020. The Trust has minimal income from public fundraising events, and does not engage in street or door-to-door fundraising, so is unaffected by falls in income from this type of fundraising.

The Trust continues to monitor developments in fundraising regulation, responding to recommendations from the Fundraising Standards Board and the Information Commissioner's Office and the requirements of the General Data Protection Regulations. Data requirements and retention follow the Trust's policy, which also ensures that people are only contacted by email or telephone when they have clearly consented, and can easily opt out from any or all of the Trust's communications. The Trust does not share supporters' details with other organisations.

The Trustees decided to continue to act in collaboration with Global Justice Now during 2020 because that provided the best and most cost effective way of achieving the Trust’s charitable aims. Good use was made of collaboration with other organisations both in the UK and in developing countries to contribute to this work.

Trade justice

The Trust's work on trade has examined proposed trade deals and drawn attention to those likely to harm the general public. Global Justice Now has used this work to raise awareness of, and seek to reverse, aspects of trade deals which are harmful to people in the global south and the UK.

For several years Global Justice Now has called for an end to corporate courts written into trade and investment deals. These allow companies to sue governments who introduce environmental and other protections in private courts, and the Covid-19 crisis posed a new threat. City law firms and large companies have speculated about bringing corporate court cases over the actions that governments have taken to save lives and jobs during the Covid-19 pandemic. Global Justice Now coordinated a global letter signed by 630 organisations from over 90 countries calling for corporate courts to be suspended, and saw the call for a moratorium on corporate courts taken up by UN organisations.

This work is concerned with the charitable aim of the prevention and relief of poverty, manifested as arrangements and rules favourable to vested interests and antagonistic to the economic interest of ordinary people, especially the poorest.

Pharmaceutical research and development

The Trust has funded research into the pharmaceutical industry aimed at making medicines available to all around the world at an affordable price for several years. The onset of the Covid-19 pandemic highlighted the value of this work, but also the urgency of ensuring distribution of vaccines to all in the global South.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2020

The pharmaceutical industry has become a major obstacle to the ability of people, especially in developing countries, to access medicines. The trade rules which set the standard for intellectual property around the world act as a disincentive to research into diseases which affect the poorest people, and into medicines which will be necessary to preserve our medical systems as a whole. Global Justice Now has used this research to campaign for a different sort of pharmaceutical system.

In response to the announcements of effective Covid-19 vaccines, Global Justice Now was amongst the first to highlight the stark inequality in access to Covid-19 vaccines between rich and lower income countries. Research with the global People’s Vaccine alliance found that rich countries had pre-ordered enough doses to vaccinate their entire populations three times over whilst nine out of 10 people in the poorest countries were set to miss out. These findings were covered in broadcast media and papers across the world.

Global Justice Now played a leading role in the People’s Vaccine alliance, a global coalition to challenge patent laws, the secrecy of technological know-how and the hoarding of vaccines by rich countries. They joined the alliance's coalition’s ‘Global Day of Action’ and mobilised supporters from across the world to contact Moderna, Pfizer, and Astra Zeneca to call on the companies to join the World Health Organisation’s global pool for sharing knowledge and intellectual property.

To further highlight problems with the pharmaceutical industry, Global Justice Now published The Horrible History of Big Pharma, a report showing Big Pharma’s long track record of putting profit before people and how therefore the industry can’t be in the driving seat of the global Covid-19 response. Global Justice Now also worked to unblock the suspension of patents for Covid-19 vaccines at the WTO to allow manufacture of vaccines more widely, drawing widespread support.

This work is concerned with the charitable aim of advancement of health, helping reduce barriers to healthcare experienced by the poor and otherwise disadvantaged.

Aid and development

Work on aid continued in 2020, with support from the Joffé Charitable Trust, in response to increased public debate about the levels and uses of aid, and the ways in which the UK aid budget is spent. The Trust supports the UK's 0.7% aid spending commitment and aid as a method of redistribution of global wealth to reduce poverty, but remains concerned when aid money is wasted, or used in ways that only serve to benefit businesses and not to alleviate poverty.

Development spending should be focussed solely on reducing poverty. One key way of doing this is building up public services and social safety nets. While the UK government spends considerable amounts on education and healthcare, some of this spending is supporting private business and financial interests that foster exclusive service provision which is out of reach of the poorest people. It is also not evident how continued support of fossil fuel industries can be an appropriate element of an aid budget. It appears that recent initiatives will increase such support. Global Justice Now aims to expose this problematic spending, while also giving a positive, alternative perspective on how development funds should be spent, with aid for public healthcare and education among

Despite the lockdown, Global Justice Now continued to work to expose bad aid spending while promoting a progressive vision for what aid could achieve. Global Justice Now supporters took action by signing petitions and across the country local groups organised talks on aid to increase awareness. There was success in opposing the closure of parliament’s International Development Committee (IDC) and to stop aid funding being used to support fossil fuels.

This work is concerned with the charitable aim of poverty reduction by helping ensure that aid funds are correctly and effectively applied.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2020

Migration

Policies and general attitudes towards migrants have become increasingly hostile in recent years. This not only impacts on poverty directly, that of those migrants affected, but it also closes off a particularly effective route which many use to escape poverty. Global Justice Now has used migrant research to challenge these policies and attitudes, explaining why people migrate and beginning to foster a more welcoming environment.

The pandemic put a stop to a number of planned training and education events, but following on from a series of workshops as part of the programme of work funded by the Tudor Trust, in February Global Justice Now organised an event in London for their youth network. Freedom of Movement was focused on the politics of migrant rights, and featured live music as well as workshops. It was followed up, post-lockdown in May, by a fundraiser for the Calais Food Collective organised by the Global Justice Now London youth network group, Our Future Now.

This work is concerned with the charitable aims of the advancement of human rights, and relief of poverty.

Tanzania Rural Revival

Tanzania Rural Revival (Uboreshaji Maisha Vijijini Tanzania) is an initiative of the Trust’s that funds development projects in Makete and Nkasi Districts in remote Western Tanzania with a focus on healthcare, education and clean water.

In 2020 support for vulnerable children at schools and higher education continued, and for small business cooperatives, including those for women only. Tanzania Rural Revival works closely with the local community - they do much of the organisation and provide the workforce.

Among other things in 2020, in Makete district, work began on installing new toilets at Mahulu Primary School, improvements to the girls' bathrooms at Mwakavuta High School completed, and work continued to the dispensary in Illolo village.

And in Nkasi District, we provided emergency funds to the district council for soap and face masks to combat Covd19. the Labour Ward at Mtenga and the dispensary at Mwai needed the finishing touches. Repairs to water provision around Kantete intake were carried out, and two new wells for Nkana were nearing completion. The new maternity ward at Mtenga Dispensary opened in February, supported by the Trust.

This work contributed directly to relief of poverty.

Education

Global Justice Now local groups' activities were very disrupted after the start of the Covid-19 pandemic, reducing their ability to promote development education across the UK. Although regular face-to-face activities were not possible, many events were held online, including speakers from partners in the global South at a series of webinars, which would not previously have been practical. Global Justice Now youth network groups organised workshops, reading groups and online film screenings in 2020, also started to work together across the country, allowing wider reach for information on development issues.

Financial review

The Trust is grateful to donors for income of £838,011 during 2020 (2019 - £1,055,445) to allow it to pursue its aims. The decrease in income compared to 2019 was partly expected, and very largely due to the decrease in legacy income for the year. Individual donations from individuals fell a little during the year. Grants from other charities, which remain a very generous source of income for the Trust's work,fell compared to 2019.

The Trust has been funded by well-wishers and by other charitable trusts. In 2020 the Trust received grants and donations over £1,000 from the following trusts, foundations and faith groups:

JA Charitable Trust

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2020

- Jusaca Trust

The Mitchell Trust
Mr & Mrs FEF Newman Charitable Trust
United Reformed Church
Westcroft Trust

and one charitable trust which wishes to remain anonymous.

The Trust does not accept grants or donations in circumstances which, or from sources that, would be likely to compromise its reputation or independence.

Overall, expenditure in the year rose to £954,269 (2019 - £898,066). The Trustees had planned to increase expenditure compared to that in previous years and to reduce reserves towards the Trust's target.

During the year, £763,724 (2019 - £703,107) was spent on charitable activities in the public interest. Of this, £695,760 (2019 - £626,195) was granted to Global Justice Now. This amount includes grants to carry out work from restricted funds. The increase of £60,617 in expenditure on charitable activities was allowable given the level of reserves available, following a large rise in legacy income in the previous year.

Fundraising costs of £190,545 (2019 - £194,959) were incurred to raise funds directly for the Trust during the year, and also to recruit new supporters for the Trust's work to safeguard future income. The Trustees review fundraising expenditure at each meeting to ensure that it remains cost-effective for the Trust.

Although the Board had budgeted for a much larger deficit during the year, some income streams were higher than anticipated, resulting in a net defict £28,691. This represented a large swing from the very large surplus of £246,190 in 2019, the result of very high legacy income in that year. Of the deficit, £19,412 represents a decrease in restricted funds, and £9,279 a decrease in unrestricted funds.

Reserves

The Trust currently maintains three separate reserves funds. Restricted funds, representing outstanding obligations for restricted grants and donations, will always be maintained in cash or cash equivalents. A designated building reserve represents the net book value of the Trust's property, less the outstanding mortgage, which could only be realised by disposing of the building. Finally, the Trust's accumulated fund, representing past surpluses from unrestricted income, is available for the Trust's general charitable purposes and to meet unexpected calls on expenditure or to manage reductions in income.

Total funds available at the end of the year were £1,684,684, comprising £8,379 restricted funds, £1,017,010 designated building reserve and £659,295 in the accumulated fund, as detailed in note 18.

The Directors review the Trust's reserves policy during the year, and in particular when setting budgets for each year, with values updated to reflect current activity levels. The policy takes into account responsibilities towards staff employed by the Trust; running costs; working capital needs; and the Trust's property. The Trust has a mortgage on its premises, but no other borrowings or similar commitments. The outstanding mortgage of £190,909 represents about one seventh of the value of the property.

The Trust's policy is to maintain the existing designated building reserves (which are not available for expenditure in the short term) and restricted reserves (which are never available for expenditure outside the restrictions.) In addition to those reserves, the Directors have assessed that the Trust requires of the order of £175,000 unrestricted reserves in the accumulated fund. This equates to about four months' salary costs plus one year's basic governance and administration costs and mortgage payments; working capital requirements; and an amount in case of major expenditure for repair of the premises.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2020

At the year-end free reserves of £659,295 in the accumulated fund were significantly higher than required, principally because of unexpectedly high legacy income received in the year before. The Directors intend to allow expenditure to run ahead of income over the next two to three years while reserves fall towards the target level in line with the reserves policy.

The Directors have considered the impact of the Covid-19 pandemic but, with reserves already significantly higher than required, do not believe that any additional reserves or specific provision will be required as a result of the pandemic.

The Directors have adopted an investment policy of maximising income within ethical guidelines whilst keeping funds sufficiently accessible to cope with substantial fluctuations in the need for and supply of cash each year.

Risk Management

The Directors maintain a risk log, to monitor strategic risks to the Trust, and review the potential risks to the Trust in depth each year. The Trust also takes professional advice where necessary. Risks are monitored throughout the year, and the risk log modified where necessary.

Global Justice Now carries out work for the Trust; manages the Trust's fundraising staff; and receives funding from the Trust for charitable and campaigning activities and hence could expose the Trust to some risk. The Trustees therefore monitor Global Justice Now activities throughout the year, with a review at each meeting when key Global Justice Now staff report to the Directors in person. In addition, three of the Directors are also members of the Council of Global Justice Now and are able to monitor activities directly.

The Directors consider that although the risks of large reductions in income from grants or donations would impact on the Trust's ability to fund its planned work, they would not give rise to direct financial risks or failure of the Trust itself, since the Trust is able to control cash outflows for its main charitable work. The Trust also plans to maintain, as described above, sufficient reserves to manage variations in funding which may arise.

A full review of risks is normally undertaken in May each year.

Fundraising Standards

The Trust raises funds from individual members of the public, charitable institutions and faith groups, and from charitable trusts and foundations. The Trust has an ethical fundraising policy to guide fundraising, and seeks to follow best practice in all dealings with members of the public.

The Trust is registered with the Fundraising Regulator, and is committed to abide by the Code of Fundraising Practice and to the Fundraising Promise. The Trust subscribes to the Fundraising Preference Service, and has clear policies and procedures in place to meet supporters’ communications preferences, and is meeting the requirements of the GDPR (General Data Protection Regulation) which came into force in 2018.

The Trust also has a clear policy on standards of behaviour when working with children, young people and vulnerable adults, and the Trust's responsibilities and processes in reporting any concerns, together with a whistleblowing policy to encourage staff and others to raise any concerns. During 2020 the Trust received no complaints from members of the public about our fundraising, and none was raised with the Fundraising Regulator.

The Trust directly employs fundraising staff jointly with Global Justice Now and pays Global Justice Now for management and support services for these fundraising staff, who are managed on a day-to-day basis by the head of fundraising, who also works jointly for Global Justice Now. These staff are paid on the same terms and conditions as Global Justice Now staff. Global Justice Now itself is also registered with the Fundraising Regulator, and abides by the same standards as the Trust.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2020

Fundraising is carried out by post, email, telephone, and online, with all activities managed by the Trust's fundraising staff. The Trust does not run fundraising events; does not solicit support outdoors or door-to-door; nor carry out any merchandising or retailing activities.

Telephone fundraising for the Trust is carried out by Ethicall, a company which specialises in charity calling and is registered with the Fundraising Regulator. The Trust's staff work closely with Ethicall to make sure their callers have a clear understanding of Global Justice Now Trust and its work. The Trust's staff also monitor calls, and Ethicall shares supporters’ feedback with the Trust, and the Trust's staff and trustees visit the agency when possible.

Events since the end of the year

In the opinion of the Board of Directors no event since the balance sheet date significantly affects the charity's financial position.

The Trustees continue to consider the impacts of the Covid-19 pandemic, which arose early in 2020 and continues into 2021 and beyond. Although there do not appear to be any significant immediate impacts on fundraising income, the Directors are aware that there may yet be reductions in income from individuals with continuing economic uncertainty. Trusts, foundations and faith groups may also direct resources away from the Trust as a response to the medical and economic crises in the UK and worldwide. The Trust has minimal income from public fundraising events, and does not engage in street or door-to-door fundraising, so is unaffected by falls in income from this type of fundraising.

As noted above, in considering risks to the charity, the Directors consider that although the risks of large reductions in income from grants or donations would impact on the Trust's ability to fund its planned work, they would not give rise to direct financial risks or failure of the Trust itself, since the Trust is able to control cash outflows for its main charitable work. The Trust's current reserves are sufficient to manage even quite significant variations in funding should they arise in the next two to three years.

The Trust gives grants to Global Justice Now, and Global Justice Now also manages and carries out the work on specific charitable projects funded by restricted grants on behalf of the Trust. There have been some operational impacts on these projects, particularly public events, which have moved online with mixed impacts. Although some of the informal contact is lost, geographical restrictions are removed with campaigners, members of the public and southern partners able to attend meetings with relative ease. For a time distribution of printed materials was also disrupted. In the reverse direction, many issues of concern to the Trust have become more prominent, with work on pharmaceuticals, for example, becoming very visible during the pandemic and a search for affordable medicines worldwide.

The Trust's administrative systems are managed by Global Justice Now. The only significant adverse impact of the pandemic has been the delay to the production of the annual report and financial statements.

Plans for future periods

The Directors expect no significant changes in the emphasis of the work of the Trust in the foreseeable future. They intend to allow reductions in reserves towards their target by allowing expenditure higher than projected income. They intend that continued collaboration with Global Justice Now shall be the principal way of pursuing its charitable objectives whilst also persisting in the Tanzanian initiative designed directly to relieve poverty.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2020

Statement of Directors' responsibilities

The Directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Principles.

Company law requires the Directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Trust and of the income and expenditure of the Trust for that period. In preparing these financial statements the Board of Directors are required to:

select suitable accounting policies and apply them consistently;
make judgements and estimates that are reasonable and prudent;
observe the methods and principles in the Charities SORP (FRS102);
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on a going concern basis (unless it is inappropriate to presume that the Trust will continue in operation).

The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.

The Directors have confirmed that, so far as they are aware, there is no relevant audit information of which the Trust's auditors are unaware, and that they have taken all the steps that they ought to have taken as Directors in order to make themselves aware of any relevant audit information and to establish that the Trust's auditors are aware of that information.

Auditors

The auditors, MHA MacIntyre Hudson have indicated their willingness to accept re-appointment under Section 487(2) of the Companies Act 2006.

Preparation of the report

This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006. It was approved and authorised for issue by the Board on 21 December 2021 and signed on its behalf by:

R. Miller Director & Trustee

Independent auditors' report to the members of Global Justice Now Trust (registered company no. 03188734)

Opinion

We have audited the financial statements Global Justice Now Trust (the ‘charitable company’) for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 December 2020, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; and
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report.

We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the directors’ assessment of the entity’s ability to continue to adopt the going concern basis of accounting included critical reviews of budgets and forecasts provided.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we

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Independent auditors' report to the members of Global Justice Now Trust (registered company no. 03188734) (Continued)

identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors' report has been prepared in accordance with applicable legal requirements

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors’ responsibilities statement in the Directors’ Report, the directors (who are also the trustees of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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Independent auditors' report to the members of Global Justice Now Trust (registered company no. 03188734) (Continued)

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Obtaining an understanding of the legal and regulatory frameworks that the entity operates in, focusing on those laws and regulations that had a direct effect on the financial statements;
Enquiry of management to identify any instances of known or suspected instances of fraud;
Enquiry of management and those charged with governance around actual and potential litigation and claims;
Enquiry of management about any instances of non-compliance with laws and regulations;
Reviewing the control systems in place and testing the effectiveness of the controls;
Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness
Evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
Reviewing minutes of meetings of those charged with governance;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditorsresponsibilities-for-audit.aspx. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Sudhir Singh FCA (Senior Statutory Auditor) For and on behalf of: MHA MacIntyre Hudson Statutory Auditors London, United Kingdom

Date: 22 December 2021

GLOBAL JUSTICE NOW TRUST

STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) For the year ended 31 December 2020

Unrestricted Funds Notes 2020 £ INCOME FROM: Incoming resources from generated funds: Donations and legacies 2 809,992 Trading activities 3 87,181 Investments 4 386 TOTAL INCOME 897,559 EXPENDITURE ON: Raising funds 7 190,545 Charitable activities 8 716,293 TOTAL EXPENDITURE 906,838 (9,279) RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 1,685,584 TOTAL FUNDS CARRIED FORWARD 1,676,305 £ NET INCOME / (EXPENDITURE)	Restricted Funds 2020 £ 28,019 - - 28,019 - 47,431 47,431 (19,412) 27,791 8,379 £	Total Funds 2020 £ 838,011 87,181 386 925,578 190,545 763,724 954,269 - (28,691) 1,713,375 1,684,684 £	Total Funds 2019 £ 1,055,445 88,278 533 1,144,256 194,959 703,107 898,066 1 246,190 1,467,185 1,713,375 _£ _

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

Comparative figures for restricted and unrestricted funds in the previous year (2019) are in note 20.

GLOBAL JUSTICE NOW TRUST (company limited by guarantee no. 03188734)

BALANCE SHEET As at 31 December 2020

Notes 2020 £ £ FIXED ASSETS Tangible assets 13 1,207,919 CURRENT ASSETS Debtors 14 236,558 Cash at bank and in hand 647,132 883,690 LIABILITIES Creditors: amounts falling due within one year 15 (233,055) NET CURRENT ASSETS 650,635 TOTAL ASSETS LESS CURRENT LIABILITIES 1,858,554 Creditors: amounts falling due after one year 16 (173,870) TOTAL NET ASSETS 1,684,684 £ FUNDS Unrestricted funds: Designated funds 18 1,017,010 Accumulated fund 18 659,295 1,676,305 Restricted funds 18 8,379 TOTAL FUNDS 1,684,684 £ balanced? Nil £	£ 279,281 427,583 706,864 (24,609) 1,014,467 671,117	2019 £ 1,222,030 682,255 1,904,285 (190,910) 1,713,375 £ 1,685,584 27,791 1,713,375 £ Nil £

These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime. They were approved, and authorised for issue, by the Directors on 21 December 2021 and signed on their behalf by:-

Director & Trustee

M. Pankhurst

GLOBAL JUSTICE NOW TRUST

STATEMENT OF CASH FLOWS For the year ended 31 December 2020

RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASHFLOW FROM OPERATING ACTIVITIES

2020
£
Net income/(expenditure) for the year
(28,691)
Depreciation
14,111
Interest receivable
(386)
Interest payable
3,000
(Increase)/decrease in debtors
42,723
Increase/(decrease) in creditors
208,446
Net cash flow from operating
activities
239,203
£
STATEMENT OF CASH FLOWS
2020
2020
£
£
Net cash flow from operating
activities
239,203
Cash flow from investing activities
Interest received
386
Cash flow from financing activities
Mortgage interest paid
(3,000)
Repayment of long term debt
(17,040)
Net cash used in financing
activities
(20,040)
Change in cash and cash equivalants in the year
219,549
£
Cash at bank and in hand at 1 January
427,583
Cash at bank and in hand at 31 December
647,132
£
ANALYSIS OF CHANGES IN NET DEBT
At start of
year
Cash
427,583
Loans falling due within one year
(16,653)
Loans falling due after more than one year
(190,910)
TOTAL
220,020

2019
£
246,190
14,111
(533)
4,324
(151,825)
(26,271)
85,996
£
2019
2019
£
£
85,996
533
(4,324)
(16,824)
(21,148)
65,381
£
362,202
427,583
£
Cash-flows
At end of
year
219,549
647,132
(386)
(17,039)
17,040
(173,870)
236,203
456,223

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The Charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared on a going concern basis under the historical cost convention modified to include certain items at fair value and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102), applicable accounting standards and the Companies Act 2006.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The presentation currency is the pound Sterling. Figures have been rounded to the nearest whole pound.

Going concern

After reviewing the company's forecasts and projections to the end of 2022, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered the impacts of the Covid-19 pandemic, but there do not appear to be significant adverse impacts on the company's finances and therefore there is no material uncertainty. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Company status

Global Justice Now Trust (the Trust) is a company limited by guarantee registered in England and Wales. In the event of the Trust being wound up, the liability in respect of the guarantee is limited to £1 per member of the Trust.

Fund accounting

The Accumulated Fund comprises unrestricted funds which are available for use at the discretion of the Directors in furtherance of the general objectives of the Trust and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Directors for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Income

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

Income tax recoverable in relation to investment income or Gift Aid donations is recognised at the time the relevant income is receivable.

Expenditure

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Grants payable are recognised in the Statement of Financial Activities (SOFA) when a liability is established. Grants are normally agreed on a calendar year basis. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

Financial instruments

The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. The financial assets and financial liabilities of the Trust are as follows:

Debtors – other debtors (including accrued income) are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 14. Prepayments are not financial instruments.
Cash at bank – is classified as a basic financial instrument and is measured at face value.
Liabilities – accruals are classified as financial instruments and are measured at amortised cost as detailed in Note 15. Taxation and social security are not financial instruments.

Tangible fixed assets and depreciation

All assets costing more than £1,000 are capitalised.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Building 80 years - straight line. Freehold land is not depreciated

The company reviews potential impairments to the building annually.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

2. DONATIONS AND LEGACIES Regular giving donations from individuals Other donations from individuals Legacies Tanzania Rural Revival income Grants and donations from charities (see note 6) Grants and donations from institutions (see note 5)	Unrestricted Funds 2020 £ 349,881 190,344 233,647 - 13,922 22,198 809,992 £	Restricted Funds 2020 £ - - - 28,019 - - 28,019 £	Total Funds 2020 £ 349,881 190,344 233,647 28,019 13,922 22,198 838,011 £	Total Funds 2019 £ 367,733 174,025 358,465 34,819 37,533 82,870 1,055,445 _£ _

Comparative figures for restricted and unrestricted funds in the previous year (2019) are at Note 20.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

3. INCOME FROM TRADING ACTIVITIES Rent receivable Events income Other fundraising income	Unrestricted Funds 2020 £ 84,500 51 2,630 87,181 £	Restricted Funds 2020 £ - - - Nil £	Total Funds 2020 £ 84,500 51 2,630 87,181 £	Total Funds 2019 £ 84,500 661 3,117 88,278 _£ _

Comparative figures for restricted and unrestricted funds in the previous year (2019) are at Note 20.

4. INCOME FROM INVESTMENTS Unrestricted Funds 2020 £ Interest receivable 386 386 £ 5. GRANTS AND DONATIONS FROM INSTITUTIONS United Reformed Church Other Faith Groups 6. Achnacarnan Trust Anonymous Trust An Anonymous Trust via CAF Aziz Foundation Christian Aid JA Charitable Trust The Jane Law Trust The Mitchell Trust Joffe Charitable Trust Jusaca Trust The Kestrelman Trust Knight Charitable Trust Mr & Mrs FEF Newman Charitable Trust The Mitchell Trust Oakdale Trust Pretty Flamingo Trust Saxham Trust Scott Thomson Charitable Trust Twitten Charitable Trust Westcroft Trust Others GRANTS AND DONATIONS FROM CHARITIES	Restricted Funds 2020 £ - Nil £	Total Funds 2020 £ 386 386 £ 2020 £ 12,701 1,221 13,922 £ 2020 £ 990 10,000 - - - 3,000 250 - - 2,500 - 250 1,000 1,000 - 120 300 100 - 2,400 *288* 22,198 £	Total Funds 2019 £ 533 533 £ 2019 £ 32,997 4,536 37,533 £ 2019 £ 100 10,000 10,000 5,000 5,000 3,000 500 20,000 2,500 20,000 250 1,000 1,000 2,000 120 300 - 2,000 - 100 82,870 _£ _

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

7. FUNDRAISING COSTS Direct fundraising costs Staff costs Support costs	Unrestricted Funds 2020 £ 35,629 100,903 54,013 190,545 £	Restricted Funds 2020 £ - - - Nil £	Total Funds 2020 £ 35,629 100,903 54,013 190,545 £	Total Funds 2019 £ 40,897 97,665 56,397 194,959 _£ _

Staff costs are the Trust's share of staff jointly employed by Global Justice Now - see note 10.

Support costs for general staff and office support are charged at cost to the Trust by Global Justice Now, allocated to the Trust in proportion to the Trust's proportion of total staff employed by Global Justice Now and Global Justice Now Trust.

Comparative figures for restricted and unrestricted funds in the previous year (2019) are at Note 20.

8. CHARITABLE ACTIVITES

Grants Grants to Global Justice Now Direct charitable expenditure Tanzania Rural Revival project costs Governance costs Property and support costs Mortgage interest Depreciation Bank and similar charges Insurance Legal fees Total charitable activities	Unrestricted Funds 2020 £ 680,000 680,000 £ - Nil £ Unrestricted Funds 2020 £ 10,548 £ 3,000 14,111 6,717 1,904 13 25,745 £ 716,293 £	Restricted Funds 2020 £ 15,760 15,760 £ 31,671 31,671 £ Restricted Funds 2020 £ Nil £ - - - - - Nil £ 47,431 £	Total Funds 2020 £ 695,760 695,760 £ 31,671 31,671 £ Total Funds 2020 £ 10,548 £ 3,000 14,111 6,717 1,904 13 25,745 £ 763,724 £	Total Funds 2019 £ 626,195 626,195 £ - 40,364 40,364 £ Total Funds 2019 £ 8,290 £ 4,324 14,111 7,902 1,868 53 28,258 £ 703,107 _£ _

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

Global Justice Now is the Trust's principal partner in the delivery of its charitable programme. The Trust funds it to carry out research and educational work as detailed more fully in the Directors' Report. Property costs are treated as part of charitable activities as explained in note 13.

Governance costs are made up of fees paid to the auditors for the audit of £10,388 (2019 : £7,956), subscription costs of £160 (2019 : £174), and travel costs of £0 (2019 : £160).

Comparative figures for restricted and unrestricted funds in the previous year (2019) are at Note 20.

9. NET INCOME/(EXPENDITURE) This is stated after charging: Depreciation- building Audit fees 10. STAFF COSTS AND TRANSACTIONS WITH TRUSTEES Wages and salaries Social security costs Pension contributions Total	2020 £ 14,111 10,388 2020 £ 87,761 8,303 4,839 100,903 £	2019 £ 14,111 7,956 2019 £ 85,075 8,072 4,518 97,665 _£ _

Staff, who carry out fundraising work for the Trust, are jointly employed with Global Justice Now.

The average monthly number of employees during the year was 5.0 (2019 : 5.0).

Global Justice Now Trust operates a defined contribution pension plan for the benefit of its employees. Contributions are expensed as they become payable. The Trust contributes a minimum of 4% of salary for staff who sign up to the pension scheme, and matches staff contributions up to 7.5% of salary.

No employee received emoluments of £60,000 or more.

No Director received any remuneration or benefits in kind. No Directors (2019 : two) were reimbursed for travel and subsistence expenses to attend meetings (2019 : £160) and one Director receives a governance magazine costing £160 (2019 : £174) paid for by the Trust.

During the year, £677 (2019 : £677) indemnity insurance has been paid to protect the Charity from loss arising from the neglect or defaults of its Trustees, employees or agents; or to indemnify the Trustees or other officers against the consequences of any neglect or default on their part.

Key management personnel comprise, in the view of the Directors: the Directors and three Global Justice Now staff : the director Nick Dearden, the head of fundraising Sandra Wild, and the head of resources Steven Thomson. The head of fundraising is jointly employed with Global Justice Now - the Trust's share of her total employee benefits (salary and employer's pension and national insurance contributions) for the year was £28,813 (2019 : £27,475). The other two individuals did not receive any remuneration during the year from the Global Justice Now Trust. Global Justice Now were compensated for their time by Global Justice Now Trust within the support costs management charge (note 7).

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

11. RELATED PARTIES

During the year, three of the directors were also directors of Global Justice Now: Louise Taylor; Nicola Ansell; and Adrian Lance. Global Justice Now receives grants from the Trust (note 8); rents the Trust's property (see note 13); jointly employs fundraising staff with the Trust (see note 10); and to which the Trust reimburses costs of support services (see note 7.) At the end of the year, the company owed the Trust £204,272 (see Note 15.) In 2019, the Trust owed the company £20,155 (see Note 14.) None of the common directors participate in decisions relating to these transactions.

One of the Directors, John Duncomb Hough, manages the Tanzania Rural Revival project on behalf of the Trust (see note 18.)

Many of the Directors donate unrestricted money to the Trust. It is not considered practical nor material to quantify the total amount of such donations.

12. CAPITAL COMMITMENTS

There were no capital commitments at 31 December 2020 (2019 : £Nil).

13. TANGIBLE FIXED ASSETS - LAND AND BUILDINGS

TANGIBLE FIXED ASSETS - LAND AND BUILDINGS Cost At start and end of the year Depreciation At start of the year Charge for the year At end of the year Net book value at end of the year	2020 £ 1,408,931 1,408,931 186,901 14,111 201,012 1,207,919 £	2019 £ 1,408,931 1,408,931 172,790 14,111 186,901 1,222,030 _£ _

The property, which is secured by a fixed charge, is occupied by Global Justice Now, which the Trust funds to carry out its charitable work as shown in note 8, and was purchased for that purpose. The Directors therefore consider that it is held primarily for charitable use although Global Justice Now pays a commercial rent. The cost of land included above, which is not depreciated, amounts to £280,000.

14. DEBTORS Amount due from Global Justice Now Legacy debtors Other debtors and accrued income	2020 £ - 215,164 21,394 236,558 £	2019 £ 20,155 233,408 25,718 279,281 _£ _

The amount due from Global Justice Now at the previous year end was the balance on the current account between the Trust and the Company, resulting from transactional agreements between the organisations. This varies throughout the year depending on transactions incurred in one organisation on behalf of the other and does not represent a loan between the Trust and the Company.

Legacy debtors represent legacy income for the year receivable at the year end, but not received during the year.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2020

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Mortgage repayable in one year Amount due to Global Justice Now Accruals	2020 £ 17,039 204,272 11,744 233,055 £	2019 £ 16,653 - 7,956 24,609 _£ _

The amount owed to Global Justice Now at the year end was the balance on the current account between the Trust and the Company, resulting from transactional agreements between the organisations. This varies throughout the year depending on transactions incurred in one organisation on behalf of the other and does not represent a loan between the Trust and the Company.

16. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR Mortgage repayable between 1 to 5 years Mortgage repayable in more than 5 years	2020 £ 70,503 103,367 173,870 £	2019 £ 69,558 121,352 190,910 _£ _

The mortgage from Triodos Bank UK Ltd is due to be paid off in June 2031, and is secured on the freehold property. At the year-end, the loan amounted to about 16% of the net book value of the property. Interest on the outstanding balance is charged at 1.25% above the Bank of England Base Rate.

FINANCIAL INSTRUMENTS	2020	2019
	£	£
Cash at bank and in hand	647,132	427,583
Financial assets that are debt instruments measured at amortised cost
Amount due from Global Justice Now	-	20,155
Legacy debtors	215,164	233,408
Other debtors	21,394	25,718
Financial liabilities measured at amortised cost
Amount due to Global Justice Now	204,272	-
Accruals	11,744	7,956
Loan - mortgage	190,909	207,563

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

18. STATEMENT OF FUNDS RESTRICTED FUNDS Tanzania Rural Revival Project The Kestrelman Trust Tudor Trust Aziz Foundation Joffe Charitable Trust DESIGNATED FUNDS Building reserve UNRESTRICTED FUND Accumulated Fund	Brought Forward £ 7,441 529 6,862 119 12,840 27,791 1,014,467 1,014,467 671,117 1,713,375 £	Incoming Resources £ 28,019 - - - 28,019 - - 897,559 925,578 £	Resources Expended £ (31,671) (529) (2,662) (119) (12,450) (47,431) (14,111) (14,111) (892,727) (954,269) £	Transfers £ - - - - - 16,654 16,654 (16,654) Nil £	Carried Forward £ 3,789 - 4,200 - 390 8,379 1,017,010 1,017,010 659,295 1,684,684 £

The Trust contributed directly to the relief of poverty in Tanzania through the Tanzania Rural Revival Project.

At the end of 2017 the Trust received a grant from the Kestrelman Trust for work on trade, with a further grant of £20,000 in 2019. £14,661 was spent on the project during 2018, and a further £24,810 in 2019. The residual balance of £529 was spent in 2020 in line with the project objectives.

At the end of 2017, the Trust received the first £15,000 tranche of a two-part grant from the Tudor Trust for work on migration, with a second £15,000 received in 2018. £13,803 was spent in line with the project's objectives during 2018; a further £9,335 in 2019; and £2,662 in 2020, with the project delayed by Covid. The remaining balance of £4,200 will be spent in line with the project objectives during 2021.

The Aziz Foundation granted £10,000 towards support for the Demand the Impossible project working with younger people from BME and lower income communities. £5,000 was received in 2018, and a further £5,000 in 2019. £4,890 was spent in 2018; a further £4,991 in 2019; and the balance of £119 was spent in 2020.

In 2019 the Joffe Charitable Trust granted £20,000 for work on the financialisation of British aid policy. £7,160 was spent in 2019, and a further £12,450 in 2020, with the balance of £390 to make the final payment for work on the project in 2021.

The building reserve represents the amount of the Trust's funds tied up in fixed assets (i.e. the cost of tangible fixed assets less depreciation and the loan financing them, including the amounts due after and within one year). Transfers during the year represent the value of depreciation and the loan repaid during the year.

Comparative figures for restricted and unrestricted funds in the previous year (2019) are at Note 20.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Funds Designated Accumulated Funds Fund 2020 2020 £ £ Tangible fixed assets 1,207,919 - Net current assets (17,039) 659,295 Creditors due in more than one year (173,870) - 1,017,010 £ 659,295 £ Comparative Figures For The Prior Year 2019 Unrestricted Funds Designated Accumulated Funds Fund 2019 2019 £ £ Tangible fixed assets 1,222,030 - Net current assets (16,653) 671,117 Creditors due in more than one year (190,910) - 1,014,467 £ 671,117 _£ _	Restricted Funds 2020 £ - 8,379 - 8,379 £ Restricted Funds 2019 £ - 27,791 - 27,791 _£ _	Total Funds 2020 £ 1,207,919 650,635 (173,870) 1,684,684 £ Total Funds 2019 £ 1,222,030 682,255 (190,910) 1,713,375 _£ _

20. RESTRICTED AND UNRESTRICTED FUNDS: COMPARATIVE FIGURES FOR THE PRIOR YEAR 2019

STATEMENT OF FINANCIAL ACTIVITIES

Notes INCOME FROM: Incoming resources from generated funds: Donations and legacies 2 Trading activities 3 Investments TOTAL INCOME EXPENDITURE ON: Raising funds 7 Charitable activities 8 TOTAL EXPENDITURE NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD	Unrestricted Funds 2019 £ 975,626 88,278 533 1,064,437 194,959 616,447 811,406 253,031 1,432,553 1,685,584 £	Restricted Funds 2019 £ 79,819 - - 79,819 - 86,660 86,660 (6,841) 34,632 27,791 _£ _	Total Funds 2019 £ 1,055,445 88,278 533 1,144,256 194,959 703,107 898,066 246,190 1,467,185 1,713,375 £

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

Comparative Figures For The Prior Year 2019 Note 2 : Donations And Legacies

Regular giving donations from individuals Other donations from individuals Legacies Tanzania Rural Revival income Grants and donations from charities Grants and donations from institutions	Unrestricted Funds 2019 £ 367,733 174,025 358,465 - 37,533 37,870 975,626 _£ _	Restricted Funds 2019 £ - - - 34,819 - 45,000 79,819 _£ _	Total Funds 2019 £ 367,733 174,025 358,465 34,819 37,533 82,870 1,055,445 _£ _

Comparative Figures For The Prior Year 2019 Note 3 : Income From Trading Activities

Rent receivable Events income Other fundraising income	Unrestricted Funds 2019 £ 84,500 661 3,117 88,278 _£ _	Restricted Funds 2019 £ - - - Nil £	Total Funds 2019 £ 84,500 661 3,117 88,278 _£ _

Comparative Figures For The Prior Year 2019 Note 7 : Fundraising Costs

Direct fundraising costs Staff costs Support costs	Unrestricted Funds 2019 £ 40,897 97,665 56,397 194,959 _£ _	Restricted Funds 2019 £ - - - Nil £	Total Funds 2019 £ 40,897 97,665 56,397 194,959 _£ _

Comparative Figures For The Prior Year 2019 Note 8 : Charitable Activites

Grants Grants to Global Justice Now	Unrestricted Funds 2019 £ 580,000 580,000 _£ _	Restricted Funds 2019 £ 46,195 46,195 _£ _	Total Funds 2019 £ 626,195 626,195 _£ _

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2020

Direct charitable expenditure Tanzania Rural Revival project costs - Nil £ Governance costs 8,290 £ Property and support costs Mortgage interest 4,324 Depreciation 14,111 Bank and similar charges 7,902 Insurance 1,868 Legal fees 53 28,258 £ Total charitable activities 616,548 £ Comparative Figures For The Prior Year 2019 Note 18 : Statement Of Funds Brought Incoming Forward Resources £ £ RESTRICTED FUNDS Tanzania Rural Revival Project 12,986 34,819 The Kestrelman Trust 5,339 20,000 Tudor Trust 16,197 - Aziz Foundation 110 5,000 Joffe Charitable Trust - 20,000 34,632 79,819 DESIGNATED FUNDS Building reserve 1,012,683 - UNRESTRICTED FUND Accumulated Fund 419,870 1,064,437 1,467,185 £ 1,144,256 _£ _	40,364 40,364 £ Nil £ - - - - - Nil £ 86,559 £ Resources Expended £ (40,364) (24,810) (9,335) (4,991) (7,160) (86,660) (14,111) (797,295) (898,066) £	40,364 40,364 £ 8,290 £ 4,324 14,111 7,902 1,868 53 28,258 £ 703,107 £ Transfers £ - - - - - 15,895 (15,895) Nil £	Carried Forward £ 7,441 529 6,862 119 12,840 27,791 1,014,467 671,117 1,713,375 _£ _