2021-12-31-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 2021

GLOBAL JUSTICE NOW TRUST

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

REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2021

CONTENTS
	Page
Legal and administrative information	1
Directors' report	2
Independent Auditors' report	11
Statement of financial activities	14
Balance sheet	15
Statement of cash flows	16
Notes to the financial statements	17

GLOBAL JUSTICE NOW TRUST

LEGAL AND ADMINISTRATIVE INFORMATION For the year ended 31 December 2021

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	Resigned 21 March 2022
	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
	6th Floor
	2 London Wall Place
	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 2021

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 2021. 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 during their induction new Directors are carefully briefed in the duties of Trustees, requirements of charity law, and the activities of the Trust. The Directors have prepared a trustee handbook to assist with the induction process and to keep a record of all of the Trust's policies. 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; pays 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, including the head of fundraising who is the only remunerated key management personnel, 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 2021 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 2021

Activities, performance and achievements

General

We are extremely grateful for the continuing support from individual supporters who enable us to continue our work and provide us with some financial stability. We are also grateful for the generous grants and donations received from several faith groups, trusts and foundations.

The world changed in 2020, with the outbreak of the Covid-19 pandemic, extending into 2021 and beyond. We continued our focus on access to medicines worldwide, while maintaining work on our other main areas of interest.

We pushed for trade and aid policies which are fairer and more democratic, with a focus on challenging provisions likely to have a negative impact on poverty and inequality around the world. Recognising the impact of the pandemic on already unsustainable debt levels, we worked for debt cancellation, including private creditors such as banks and other financial institutions.

Our work on climate justice was linked closely to the potential impacts of aid, trade, and debt systems on governments' ability to take climate action. There was a particular focus on climate work, with COP26 taking place in Glasgow.

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 ensures that people 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 2021 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

While trade can help reduce poverty, the current global trading system, and the rules embedded within it, too often foster poverty and inequality and environmental damage. That’s why we have regularly worked for reform of trade rules, and particularly for reform of trade deals which we believe will make things worse.

During 2021, we continued to highlight the problematic aspects of trade deals Britain was pursuing, in so far as they threatened the building of a more local and accountable food system, for example. And we highlighted, where appropriate, the undemocratic nature of our trade negotiation and ratification model, working with Trade Justice Movement.

Our major focus in the year, however, was the investor state dispute settlement (ISDS) provisions of trade and investment agreements. These constrain countries of the global south in dealing with poverty, inequality and climate change. The most damaging treaty provisions when it comes to climate change are contained in the Energy Charter Treaty. Global Justice Now worked with allies from across the world, attempting to influence the modernisation process underway, bringing the issue of ISDS to the centre of climate change discussions, including an IPCC report mentioning the problem of ISDS.

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.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2021

Pharmaceutical research and development

For several years the Trust has funded research into the pharmaceutical industry aimed at making medicines available to all around the world at an affordable price. 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.

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.

Our work on this since 2016 gave Global Justice Now the background to play a leading role in the global People’s Vaccine Alliance. The alliance calls for more equitable distribution of Covid-19 medicines and also for the better distribution of medical research, development and production facilities globally. We believe this could not only have allowed the production of far more Covid-19 vaccines, but also collaboration on better medicines. In turn this could lay the ground for a medical system which genuinely meets the needs of people right across the world.

During the year, the Directors agreed to assist the global People's Vaccine Alliance (PVA) by managing significant grants for the work of the Alliance to be distributed to partner organisations and to pay for work on behalf of the Alliance.

When Covid-19 emerged, we saw rich countries like the UK making rapid progress with their vaccine rollout but lowincome countries being left far behind. Global Justice Now campaigns against this injustice secured an unprecedented level of media interest and support from hundreds of prominent politicians, scientists and health workers, even reaching the president of the United States. Although there was no waiver in 2021 to the trade rules which could make increased and diversified production possible, the campaign opened up space which allowed southern countries to start doing thing differently. The mRNA hub in South Africa is a particularly inspiring example of medical research being conducted with the primary objective of collaboration and open access.

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

At the start of the year, Global Justice Now published the report Healthcare for all? How UK aid undermines universal public healthcare , which highlights the way in which the UK government is at the forefront of a trend to invest large amounts of development funding into private healthcare, prioritising support for private, for-profit businesses over services which reach the world’s most marginalised communities. This has seen aid invested in hospitals which refused to treat people during Covid-19, for example in India. We believe this is a completely ineffective means of spending aid money and we’re monitoring the situation to ensure such funding ceases, as well as building support for the idea of using international funds to build publically provided and universal healthcare around the world, which evidence suggests in the best way to improve healthcare standards.

Global Justice Now also spoke out against the cutting of aid funds by the British government during Covid-19, and worked to show the impact this would have on countries already struggling with the pandemic.

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 2021

Debt

The current global debt system is deeply flawed. It encourages high rates of borrowing by governments, then forces the burden of debt onto the shoulders of citizens. This has become even more clear during the Covid-19 pandemic: middle- and low-income countries are still expected to repay debt and interest to some of the world’s richest banks while their governments struggle to put sufficient funds towards public services such as healthcare.

Global Justice Now worked with allies including Jubilee Debt Campaign (now Debt Justice) to raise public awareness of the unsustainable debt burden, how it fuels poverty and inequality, and prevents governments dealing with long-term issues like climate change. They called for debt cancellation for specific countries where the situation is particular acute, for instance Zambia, and put pressure on the big financial corporations which hold much of this debt, most notably Blackrock, bringing this issue to the attention of politicians, the media and the wider public. There was a partial debt standstill for the length of the pandemic, but Global Justice Now continued to advocate for private sector inclusion and full cancellation as opposed to simply payment suspension.

This work is concerned with the charitable aim of poverty reduction by helping ensure that debt repayments do not push people into poverty.

Climate change

The global economy is a major driver of climate change and, without major reform, we will not be able to tackle this existential crisis we face. What’s more, there is a great injustice that runs through the climate crisis: while created by the richest part of the world, it is having the most serious impacts on the poorest parts of the world. Global Justice Now ran campaigns for reforms which recognise and rectify this injustice, including reforms to the trade system, an end to ISDS arbitration in trade and investment deals, increased climate finance flows from the global north to the global south and cancellation of unjust debts. As part of this, we place the perspectives of southern partners at the forefront of our work.

In 2021, the long awaited COP26 took place in Glasgow. Global Justice Now used this as a major platform to push for our objectives and to engage wider sections of the UK public in these issues, including as a founder member of the COP26 Coalition along with many other charities and organisations. The Coalition organised a major series of events to coincide with Glasgow, brought southern activists from around the world to take part, lobbied for better representation for those groups at the official talks, and engaged extensively in the media around the summit.

While disappointed about the outcomes of the summit, we were pleased that a more systemic approach to climate change was evident everywhere in Glasgow – even in the rhetoric used by world leaders. However, the pledges made came nowhere close to what is necessary. Global Justice Now will continue to work with the COP26 Coalition to build a broad-based movement capable of pushing for the policies needed to transform the situation. We are embedding climate change across our work, making it clear that economic justice cannot be separated from climate change. In particular, Global Justice Now began to work on the issue of climate reparations for the global south.

This work is concerned with the charitable aim of the protection of the environment, and of the relief of poverty.

Migration

Global Justice Now Youth groups were active working on migration during the year. Following a series of workshops in 2021 with the help of a grant from the Tudor Trust, we were able to support the Migrant Connections Festival in autumn 2021, centred around health and wellbeing of migrants.

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

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2021

Education

Global Justice Now Local groups' activities were very disrupted by the Covid-19 pandemic. In 2021, they worked hard to find alternative means of engagement, discussion and action online for supporters and local groups. When it was safe to do so, outdoor events restarted, but - making a virtue of necessity - they increased use of online meetings to bring southern allies directly into contact with supporters and the general public.

A major focus for Global Justice Now's public education is the creation of a youth network, to bring new generations into the movement, with around a dozen groups by the end of the year. Youth groups organised debates and discussions as well as numerous events online and offline, including on climate change, migration and vaccine inequality.

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 2021 support for vulnerable children at schools and higher education continued, along with funding for healthcare and provision of clean water. Tanzania Rural Revival works closely with the local community, who do much of the organisation and provide the workforce.

This work contributed directly to relief of poverty.

Financial review

The Trust is grateful to donors for income of £991,346 during 2021 (2020 - £838,011) to allow it to pursue its aims. The increase in income compared to 2020 was principally the result of large grants for work with the Peoples Vaccine Alliance. Individual donations from individuals fell during the year. Grants from other charities, which remain a very generous source of income for the Trust's work, rose dramatically during the year compared to 2020, with two major grants to provide support for the Peoples Vaccine Alliance.

The Trust has been funded by well-wishers and by other charitable trusts. In 2021 the Trust received grants and donations over £1,000 from the following trusts, foundations and faith groups:

Christian Aid
Fondacija Drustv
JA Charitable Trust
Oakdale Trust
Twitten Charitable Trust
United Reformed Church
Wellspring Foundation 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 £1,099,967 (2020 - £954,269). 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, £898,038 (2020 - £763,724) was spent on charitable activities in the public interest. Of this, £845,759 (2020 - £695,760) was granted to Global Justice Now. This amount includes grants to carry out work from restricted funds. The increase of £134,314 in expenditure on charitable activities was allowable given the level of reserves available, following a high level of legacy income in the previous year, and major grants received to fund work with the People's Vaccine Alliance.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2021

Fundraising costs of £201,929 (2020 - £190,545) 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 larger deficit during the year, some income streams were higher than anticipated, resulting in a net deficit of £21,133. This represented a reduction from the deficit of £28,691 in 2020. Of the net deficit, £86,538 represents an increase in restricted funds and £107,671 a smaller than planned decrease in unrestricted funds.

Reserves

The Trust currently maintains four 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. The designated legacy reserve represents the value of legacy income for the year receivable at the year end, but not received during the year, to be released to the accumulated fund when received. Finally, the Trust's accumulated fund, representing past surpluses from unrestricted income, is immediately 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 £1,663,551, comprising £94,917 restricted funds, £1,019,938 designated building reserve, and £548,696 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 £173,870 represents about one eighth of the historic cost 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 an amount 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.

At the year-end free reserves of £548,696 in the accumulated fund were significantly higher than required, principally because of high levels of legacy income received in previous years. 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 and other wide-ranging uncertainties including pressures of rises in the cost-of-living. With reserves already significantly higher than required and with control over cash outflows, do not believe that any additional reserves or specific provision will be required as a result, and that the Trust remains a going concern for the foreseeable future.

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.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2021

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 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 2021 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.

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

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2021

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, and more recent rises in the cost of living. 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 together 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 noticeable 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 continuing to pursue the Tanzanian initiative designed directly to relieve poverty.

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);

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2021

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 in accordance with the special provisions under Part 15 of the Companies Act 2006 relating to small companies and the Company has taken advantage of the small companies’ exemptions in preparing the Directors Report and the requirement to prepare a Strategic Report. It was approved and authorised for issue by the Board on 16 September 2022 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 2021 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 2021, 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.

/Continued…

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 6th Floor

29 September 2022

GLOBAL JUSTICE NOW TRUST

STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) For the year ended 31 December 2021

Unrestricted Funds Notes 2021 £ INCOME FROM: Incoming resources from generated funds: Donations and legacies 2 757,468 Trading activities 3 87,251 Investments 4 237 TOTAL INCOME 844,956 EXPENDITURE ON: Raising funds 7 201,929 Charitable activities 8 750,698 TOTAL EXPENDITURE 952,627 (107,671) RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 1,676,305 TOTAL FUNDS CARRIED FORWARD 1,568,634 £ NET INCOME / (EXPENDITURE)	Restricted Funds 2021 £ 233,878 - -	Total Funds 2021 £ 991,346 87,251 237	Total Funds 2020 £ 838,011 87,181 386
844,956	233,878	1,078,834	925,578
	- 147,340	201,929 898,038	190,545 763,724
952,627	147,340	1,099,967	954,269
(107,671) 1,676,305	86,538 8,379	(3) (21,133) 1,684,684	- (28,691) 1,713,375
1,568,634 £	94,917 £	1,663,551 £	1,684,684 _£ _

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 (2020) are in note 20.

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

BALANCE SHEET As at 31 December 2021

Notes 2021 £ £ FIXED ASSETS Tangible assets 13 1,193,808 CURRENT ASSETS Debtors 14 226,878 Cash at bank and in hand 571,020 797,898 LIABILITIES Creditors: amounts falling due within one year 15 (170,753) NET CURRENT ASSETS 627,145 TOTAL ASSETS LESS CURRENT LIABILITIES 1,820,953 Creditors: amounts falling due after one year 16 (157,402) TOTAL NET ASSETS 1,663,551 £ FUNDS Unrestricted funds: Designated funds 18 1,019,938 Accumulated fund 18 548,696 1,568,634 Restricted funds 18 94,917 TOTAL FUNDS 1,663,551 £	£ 236,558 647,132	2020 £ 1,207,919 650,635
	883,690 (233,055)
	1,017,010 659,295
		1,858,554 (173,870)
		1,684,684 _£ _
		1,676,305 8,379

		1,684,684 _£ _

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 16 September 2022 and signed on their behalf by:-

Director & Trustee

M. Pankhurst

GLOBAL JUSTICE NOW TRUST

STATEMENT OF CASH FLOWS For the year ended 31 December 2021

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

2021 £ Net income/(expenditure) for the year (21,133) Depreciation 14,111 Interest receivable (237) Interest payable 2,472 (Increase)/decrease in debtors 9,680 Increase/(decrease) in creditors (62,302) Net cash flow from operating activities (57,409) £ STATEMENT OF CASH FLOWS 2021 2021 £ £ Net cash flow from operating activities (57,409) Cash flow from investing activities Interest received 237 Net cash provided by investing activities 237 Cash flow from financing activities Mortgage interest paid (2,472) Repayment of long term debt (16,468) Net cash used in financing activities (18,940) Change in cash and cash equivalants in the year (76,112) £ Cash at bank and in hand at 1 January 647,132 Cash at bank and in hand at 31 December 571,020 £ ANALYSIS OF CHANGES IN NET DEBT At start of year Cash 647,132 Loans falling due within one year (17,039) Loans falling due after more than one year (173,870) TOTAL 456,223	2020 £ 386	2020 £ (28,691) 14,111 (386) 3,000 42,723 208,446
		239,203 _£ _
		2020 £ 239,203 386 (20,040)
	(3,000) (17,040)
		219,549 _£ _
		427,583 647,132 _£ _
	(59,073) 397,150

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

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 2021

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 Freehold land is not depreciated

80 years - straight line.

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.

Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Freehold land is not depreciated. The directors do not foresee circumstances in which the value will fall below the purchase price.

The Trust's building is depreciated on a straight-line basis over 80 years, its likely useful economic life, determined by the directors' best estimate of that asset's useful economic life based on our past experience and knowledge. The Trust is not intending to sell the building before the end of its estimated useful economic life, therefore a straight-line basis seems appropriate as the value generated to the organisation by the asset will be consistent over its life.

Legacy income is only recognised when the three recognition criteria - entitlement, probable receipt, and reliable measurement - are met. Entitlement is proven by the Trust being named in the will of the deceased, and is considered to exist when probate has been granted. The value of a pecuniary legacy is the value stated in the will. Residuary legacies are valued when there is a net estate valuation received from the executors, taking the Trust's share after allowing for potential administration fees and potential reductions in the value of assets held by the estate.

The directors do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

2. DONATIONS AND LEGACIES Unrestricted Restricted Total Funds Funds Funds 2021 2021 2021 £ £ £ Regular giving donations from individuals 334,932 - 334,932 Other donations from individuals 136,143 955 137,098 Legacies 219,515 - 219,515 Tanzania Rural Revival income - 21,880 21,880 44,258 - 44,258 22,620 211,043 233,663 757,468 £ 233,878 £ 991,346 £ Comparative figures for restricted and unrestricted funds in the previous year (2020) are at 3. INCOME FROM TRADING ACTIVITIES Unrestricted Restricted Total Funds Funds Funds 2021 2021 2021 £ £ £ Rent receivable 84,500 - 84,500 Events income 435 - 435 Other fundraising income 2,316 - 2,316 87,251 £ Nil £ 87,251 £ Comparative figures for restricted and unrestricted funds in the previous year (2020) are at 4. INCOME FROM INVESTMENTS Unrestricted Restricted Total Funds Funds Funds 2021 2021 2021 £ £ £ Interest receivable 237 - 237 237 £ Nil £ 237 £ 5. GRANTS AND DONATIONS FROM INSTITUTIONS 2021 £ United Reformed Church 43,237 Other Faith Groups 1,021 44,258 £ 6. 2021 £ The Achnacarnan Trust - Anonymous Trust 15,000 Christian Aid 5,000 Fondacija Drustv - PVA 8,335 JA Charitable Trust 3,000 The Jane Law Trust - GRANTS AND DONATIONS FROM CHARITIES Grants and donations from charities (see note 6) Grants and donations from institutions (see note 5)	Total Funds 2020 £ 349,881 190,344 233,647 28,019 13,922 22,198
	838,011 _£ _
	Note 20. Total Funds 2020 £ 84,500 51 2,630
	87,181 _£ _
	Note 20. Total Funds 2020 £ 386
	386 _£ _
	2020 £ 12,701 1,221
	13,922 _£ _
	2020 £ 990 10,000 - - 3,000 250 /cont

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

Unrestricted Funds 2021 £ 35,389 106,826 59,714	Restricted Funds 2021 £ - - -	2,500 250 1,000 1,000 - 120 300 100 - - 2,400 288
		22,198 _£ _
		Total Funds 2020 £ 35,629 100,903 54,013
201,929 £	Nil £	190,545 _£ _

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 (2020) are at Note 20.

8. CHARITABLE ACTIVITES

Unrestricted Funds 2021 £ 710,000	Restricted Funds 2021 £ 135,759	Total Funds 2020 £ 695,760
710,000 £	135,759 £	695,760 _£ _
-	11,581	- 31,671
Nil £	11,581 £	31,671 _£ _
Unrestricted Funds 2021 £	Restricted Funds 2021 £	Total Funds 2020 £
16,510 £	Nil £	10,548 _£ _

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

Property and support costs Mortgage interest Depreciation Bank and similar charges Insurance Legal fees Total charitable activities	Unrestricted Funds 2021 £ 2,472 14,111 5,921 1,631 53	Restricted Funds 2021 £ - - - - -	Total Funds 2021 £ 2,472 14,111 5,921 1,631 53 24,188 £ 898,038 £	Total Funds 2020 £ 3,000 14,111 6,717 1,904 13
	24,188 £	Nil £		25,745 _£ _
	750,698 £	147,340 £		763,724 _£ _

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 £16,336 (2020 : £10,388),

subscription costs of £174 (2020 : £160), and travel costs of £0 (2020 : £0).

Comparative figures for restricted and unrestricted funds in the previous year (2020) 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	2021 £ 14,111 16,336 2021 £ 96,177 5,456 5,193 106,826 £	2020 £ 14,111 10,388
		2020 £ 87,761 8,303 4,839
		100,903 _£ _

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 6.0 (2020 : 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 (2020 : nil) were reimbursed for travel and subsistence expenses to attend meetings (2020 : £nil) and one Director receives a governance magazine costing £174 (2020 : £160) paid for by the Trust.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

During the year, £677 (2020 : £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 £29,474 (2020 : £28,813). 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).

11. RELATED PARTIES

During the year, four of the directors (no more than three at one time) were also directors of Global Justice Now: Nicola Ansell; Adrian Lance; Louise Taylor (until June 2021); and Sunit Bagree (from 21 November 2021). 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 Trust owed the company £130,405 (see Note 15.) 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.)

During the year, directors made unrestricted donations to the company, during their terms of office as directors of the company, of £204 (2020 - £704). Several directors also made unrestricted donations to Global Justice Now.

12. CAPITAL COMMITMENTS

There were no capital commitments at 31 December 2021 (2020 : £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	2021 £ 1,408,931 1,408,931 201,012 14,111 215,123 1,193,808 £	2020 £ 1,408,931
		1,408,931
		186,901 14,111
		201,012
		1,207,919 _£ _

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.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

14. DEBTORS Legacy debtors Other debtors and accrued income	2021 £ 126,420 100,458 226,878 £	2020 £ 215,164 21,394
		236,558 _£ _

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

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	2021 £ 16,468 130,405 23,880 170,753 £	2020 £ 17,039 204,272 11,744
		233,055 _£ _

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 two 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

REDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR Mortgage repayable between 1 to 5 years Mortgage repayable in more than 5 years	2021 £ 69,098 88,304 157,402 £	2020 £ 70,503 103,367
		173,870 _£ _

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 15% 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	2021	2020
	£	£
Cash at bank and in hand	571,020	647,132
Financial assets that are debt instruments measured at amortised cost
Legacy debtors	126,420	215,164
Other debtors	100,458	21,394
Financial liabilities measured at amortised cost
Amount due to Global Justice Now	130,405	204,272
Accruals	23,880	11,744
Loan - mortgage	173,870	190,909

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

Incoming Resources £ 21,880 - - 15,000 1,000 195,043 955	Resources Expended £ (11,581) (4,200) (390) (15,000) (1,000) (114,214) (955)	Carried Forward £ 14,088 - - - - 80,829 -
233,878 -	(147,340) (14,111)	94,917 1,019,938
- 844,956	(14,111) (938,516)	1,019,938 548,696
1,078,834 £	(1,099,967) £	1,663,551 £

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 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 was spent in line with the project objectives during 2021.

In 2019 the Joffé 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.

An Anonymous Trust, which has previously made unrestricted donations to the Trust, granted £15,000 for the Trust's work on pharmaceuticals. The full amount was utilised during the year.

The Oakdale Trust donated £1,000 towards the Trust's work on pharmaceutical vaccine equality. The full amount was utilised during the year.

The Trust received two grants totalling £195,043 for work as part of the global People's Vaccine Alliance. £114,214 was spent during the year, with the balance of £80,829 to be spent in 2022.

Other small restricted donations received, principally for work on pharmaceuticals, were fully utilised during the year.

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 (2020) are at Note 20.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2021

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Funds Designated Accumulated Funds Fund 2021 2021 £ £ Tangible fixed assets 1,193,808 - Net current assets (16,468) 548,696 Creditors due in more than one year (157,402) - 1,019,938 £ 548,696 £ Comparative Figures For The Prior Year 2020 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 _£ _	Unrestricted Funds Designated Accumulated Funds Fund 2021 2021 £ £ Tangible fixed assets 1,193,808 - Net current assets (16,468) 548,696 Creditors due in more than one year (157,402) - 1,019,938 £ 548,696 £ Comparative Figures For The Prior Year 2020 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 _£ _	Total Funds 2021 £ 1,193,808 627,145 (157,402)
		1,663,551 £
		Total Funds 2020 £ 1,207,919 650,635 (173,870)
1,017,010 _£ _	659,295 _£ _	1,684,684 _£ _

20. RESTRICTED AND UNRESTRICTED FUNDS: COMPARATIVE FIGURES FOR THE PRIOR YEAR 2020

STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Funds 2020 £ 809,992 87,181 386	Restricted Funds 2020 £ 28,019 - -	Total Funds 2020 £ 838,011 87,181 386
897,559	28,019	925,578
190,545 716,293	- 47,431	190,545 763,724
906,838	47,431	954,269
(9,279) 1,685,584	(19,412) 27,791	(28,691) 1,713,375
1,676,305 £	8,379 _£ _	1,684,684 £

/cont

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

Comparative Figures For The Prior Year 2020 Note 2 : Donations And Legacies

Regular giving donations from individuals Other donations from individuals Legacies Tanzania Rural Revival income Grants and donations from institutions Grants and donations from charities	Unrestricted Funds 2020 £ 349,881 190,344 233,647 - 13,922 22,198	Restricted Funds 2020 £ - - - 28,019 - -	Total Funds 2020 £ 349,881 190,344 233,647 28,019 13,922 22,198
	809,992 _£ _	28,019 _£ _	838,011 _£ _

Comparative Figures For The Prior Year 2020 Note 3 : Income From Trading Activities

Unrestricted Funds 2020 £ 84,500 51 2,630	Restricted Funds 2020 £ - - -	Total Funds 2020 £ 84,500 51 2,630
87,181 _£ _	Nil £	87,181 _£ _
	Restricted Funds 2020 £ - - -	Total Funds 2020 £ 35,629 100,903 54,013
190,545 _£ _	Nil £	190,545 _£ _

Comparative Figures For The Prior Year 2020 Note 8 : Charitable Activites

Unrestricted Funds 2020 £ 680,000	Restricted Funds 2020 £ 15,760	Total Funds 2020 £ 695,760
680,000 _£ _	15,760 _£ _	695,760 _£ _
-	31,671	31,671
Nil £	31,671 _£ _	31,671 _£ _

/cont

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2021

Unrestricted Funds 2020 £	Restricted Funds 2020 £	Carried Forward £ 3,789 - 4,200 - 390
10,548 _£ _	Nil £
3,000 14,111 6,717 1,904 13	- - - - -
25,745 _£ _	Nil £
716,293 _£ _	47,431 _£ _
	Resources Expended £ (31,671) (529) (2,662) (119) (12,450)
28,019 - - 897,559	(47,431) (14,111) - (892,727)	8,379 1,017,010 - 659,295
925,578 _£ _	(954,269) £	1,684,684 _£ _