2022-12-31-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 2022

GLOBAL JUSTICE NOW TRUST

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

REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2022

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 2022

Directors and Trustees	Nicola Ansell
	Sunit Bagree
	Sarah Hirom
	John Duncomb Hough
	Adrian Lance
	Roger Miller
	John Mitchell	Resigned 19 May 2023
	Maggie Pankhurst (Chair)
	Steve Rolfe
	Rachael Stokes	Appointed 19 May 2023
	Louise Taylor	Resigned 21 March 2022
	Andrew Taylor-Dawson
Secretary	Roger Miller
Company reg. no.	03188734
Charity reg. no.	1064066
Registered office	66 Offley Road
	London
	SW9 0LS
Auditors	MHA
	Statutory Auditors
	Building 4
	Foundation Park
	Roxborough Way
	Maidenhead
	SL6 3UD
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 2022

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 2022. 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 normally retire on a triennial cycle and are eligible for re-election on two occasions. 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 2022 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.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2022

Aims

The Trust aims to:

support the charitable parts of those Global Justice Now campaigns with the greatest potential impact on the relief of poverty and related work on the protection of the environment, with a particular emphasis on the global south
continue direct relief of poverty, and promotion of health and education, at present principally through the Trust’s work in Tanzania.
raise funds in the most cost-effective way, to support campaigns in pursuit of its charitable objectives and the direct relief of poverty

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.

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.

We continued to work towards more equitable distribution of Covid-19 vaccines, with the additional focus on the better distribution of medical research, development and production facilities more widely.

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.

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 2022 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.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2022

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 2022, 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, or allowed corporations to sue governments to block environmental and climate protections.

Our continuing focus in the year 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.

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

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 continued 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.

With the aid of a grant from the Open Society Foundations (OSF) the Trust funded work with Just Treatment and UAEM (Universities Allied for Essential Medicines) to work towards fairer pharmaceutical systems worldwide, and towards a waiver of TRIPS (Trade Related Aspects of Intellectual Property Rights) at the WTO (World Trade Organisation) which blocks countries in the global south from producing their own vaccines. Although there was no waiver to TRIPS, this work 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.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2022

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.

Following work at COP26 in Glasgow in 2021, Global Justice Now published the 'Corporate Courts versus The Climate booklet', to give an easy introduction to the issue of corporate courts (aka ISDS) and climate justice, and in advance of the COP27 climate negotiations at the end of the year, published a report arguing that fossil fuel corporations in the global north have a distinct responsibility for creating and accelerating climate chaos, and as such should contribute to reparations to affected communities.

Most importantly, at the COP27 itself at the end of 2022, representatives from global south countries, backed by the wider climate justice movement, won a loss and damage fund after three decades of efforts. Future work will ensure the fund is set up properly and that polluters pay their share.

This work is concerned with the charitable aims of the advancement of environmental protection and prevention and relief of poverty.

Aid and 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. Despite a global pandemic and devastating climate impacts, big banks continue to collect debt payments from the global south, ignoring calls from the World Bank, IMF and UN to offer debt relief. In 2022, working with like-minded organisations and parliamentarians, Global Justice Now continued to push the UK government to support debt justice and cancel the debt of lower income countries, such as Zambia.

In June 2022 Global Justice Now published the report “Warning signs : The Prosperity Fund and the hijacking of UK aid” showing how the UK's £1Bn “Prosperity Fund” had, rather than tackling poverty as aid is supposed to, was really about increasing the UK’s profits and international influence. In 2022 the UK government published an international development strategy promising to use aid to support “free trade” and “free markets”, alongside promoting British expertise and building “economic partnerships” with countries through increased trade and investment - rather than for the true purpose of aid.

Global Justice Now continued to speak out against the cutting of aid funds by the British government during Covid19, 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, and helping ensure that debt repayments do not push people into poverty.

Education

Global Justice Now Local groups' activities were very disrupted by the Covid-19 pandemic but In 2022 were able to use a combination of in-person and online engagement for groups and supporters. There was continued use of online meetings to bring southern allies directly into contact with supporters and the general public, in ways which weren’t possible when limited to in-person visits alone, but also in person events, including a pharmaceuticals speaker tour.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2022

A major focus for Global Justice Now's public education is the creation of a youth network, to bring new generations into the movement. The number of groups continued to grow, with an in-person event with workshops and speakers held in London early in the year. Youth themselves 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.

The project continued support for vulnerable children at schools and higher education, 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. In 2022 two Trustees were able (at their own expense) to visit the project's work in Tanzania, for the first time since 2019.

This work contributed directly to relief of poverty.

Financial review

The Trust is grateful to donors for income of £1,126,274 during 2022 (2021 - £991,346) to allow it to pursue its aims. The increase in income compared to 2021 was principally the result of high levels of legacy income. 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 during the year compared to 2021, with a grant for work on pharmaceuticals from the Open Society Foundations.

The Trust has been funded by well-wishers and by other charitable trusts. In 2022 the Trust received grants and donations over £1,000 from the following trusts, foundations and faith groups:

CD Stockwell Charitable Trust
Christian Aid
JA Charitable Trust
Jusaca Trust
Leri Trust
Open Society Foundations
United Reformed Church

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 £1,182,465 (2021 - £1,099,967). The Trustees had planned to maintain expenditure compared to that in previous years and - expecting reduced income - to reduce reserves towards the Trust's target.

During the year, £966,135 (2021 - £898,038) was spent on charitable activities in the public interest. Of this, £891,234 (2021 - £845,759) was granted to Global Justice Now. This amount includes grants to carry out work from restricted funds. The increase of £68,097 in expenditure on charitable activities was allowable given the level of reserves available.

Fundraising costs of £216,330 (2021 - £201,929) 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.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2022

Although the Board had budgeted for a deficit during the year, some income streams were higher than anticipated, resulting in a net surplus of £30,666. This represented a reversal from the deficit of £21,133 in 2021. Of the net surplus, £22,879 represents a decrease in restricted funds and £53,545 an increase 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 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 £1,694,217, comprising £72,038 restricted funds, £1,022,065 designated building reserve, and £600,114 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 £157,632 represents about one ninth 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 £185,000 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 £600,114 in the accumulated fund were significantly higher than required, principally because of high levels of legacy income received over the 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 and higher interest rates. With reserves already significantly higher than required and with control over cash outflows, the Directors 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.

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 TRUST

DIRECTORS' REPORT For the year ended 31 December 2022

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 Data Protection Act and 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 2022 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 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.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2022

As noted above, in considering risks to the charity, the Directors consider that although the risks of large reductions in income from grants, legacies or other 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.

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 Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Directors to prepare financial statements for each financial year. Under company law, the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Trust and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Directors are required to:

select suitable accounting policies and apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Trust’s transactions and 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 prevention and detection 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 have indicated their willingness to accept re-appointment under Section 487(2) of the Companies Act 2006.

GLOBAL JUSTICE NOW TRUST

DIRECTORS' REPORT For the year ended 31 December 2022

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 19 February 2024 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 of Global Justice Now Trust (the ‘charitable company’) for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, 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 2022, 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. 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. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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.

/Continued…

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

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 charitable company’s 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, 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 Directors 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 Auditors' 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Enquiry of management around actual and potential litigation and claims;
Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness
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: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

BIANCA SILVA BA ACA DChA (Senior Statutory Auditor)

for and on behalf of MHA, Statutory Auditors Maidenhead, United Kingdom

Date: 23 February 2024

MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313)

GLOBAL JUSTICE NOW TRUST

STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) For the year ended 31 December 2022

Unrestricted Funds Notes 2022 £ INCOME FROM: Incoming resources from generated funds: Donations and legacies 2 876,548 Trading activities 3 86,437 Investments 4 420 TOTAL INCOME 963,405 EXPENDITURE ON: Raising funds 7 216,330 Charitable activities 8 693,530 TOTAL EXPENDITURE 909,860 53,545 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 1,568,634 TOTAL FUNDS CARRIED FORWARD 1,622,179 £ NET INCOME / (EXPENDITURE)	Restricted Funds 2022 £ 249,726 - -	Total Funds 2022 £ 1,126,274 86,437 420	Total Funds 2021 £ 991,346 87,251 237
963,405	249,726	1,213,131	1,078,834
	- 272,605	216,330 966,135	201,929 898,038
909,860	272,605	1,182,465	1,099,967
53,545 1,568,634	(22,879) 94,917	- 30,666 1,663,551	(3) (21,133) 1,684,684
1,622,179 £	72,038 £	1,694,217 £	1,663,551 _£ _

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 (2021) are in note 21. The notes on pages 17 to 27 form part of these financial statements

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

BALANCE SHEET As at 31 December 2022

Notes 2022 £ £ FIXED ASSETS Tangible assets 13 1,179,697 CURRENT ASSETS Debtors 14 296,452 Cash at bank and in hand 716,457 1,012,909 LIABILITIES Creditors: amounts falling due within one year 15 (355,410) NET CURRENT ASSETS 657,499 TOTAL ASSETS LESS CURRENT LIABILITIES 1,837,196 Creditors: amounts falling due after one year 16 (142,979) TOTAL NET ASSETS 1,694,217 £ FUNDS Unrestricted funds: Designated funds 18 1,022,065 Accumulated fund 18 600,114 1,622,179 Restricted funds 18 72,038 TOTAL FUNDS 1,694,217 £	£ 226,878 571,020	2021 £ 1,193,808 627,145
	797,898 (170,753)
	1,019,938 548,696
		1,820,953 (157,402)
		1,663,551 _£ _
		1,568,634 94,917

		1,663,551 _£ _

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 19 February 2024 and signed on their behalf by:-

M. Pankhurst

Director & Trustee

The notes on pages 17 to 27 form part of these financial statements

GLOBAL JUSTICE NOW TRUST

STATEMENT OF CASH FLOWS For the year ended 31 December 2022

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

2022 £ Net income/(expenditure) for the year 30,666 Depreciation 14,111 Interest receivable (420) Interest payable 4,313 (Increase)/decrease in debtors (69,574) Increase/(decrease) in creditors 184,657 Net cash flow from operating activities 163,753 £ STATEMENT OF CASH FLOWS 2022 2022 £ £ Net cash flow from operating activities 163,753 Cash flow from investing activities Interest received 420 Cash flow from financing activities Mortgage interest paid (4,313) Repayment of long term debt (14,423) Net cash used in financing activities (18,736) Change in cash and cash equivalants in the year 145,437 £ Cash at bank and in hand at 1 January 571,020 Cash at bank and in hand at 31 December 716,457 £ ANALYSIS OF CHANGES IN NET DEBT At start of year Cash 571,020 Loans falling due within one year (16,468) Loans falling due after more than one year (157,402) TOTAL 397,150	2021 £ 237 (2,472) (16,468)	2021 £ (21,133) 14,111 (237) 2,472 9,680 (62,302)
		(57,409) £
		2021 £ (57,409) (18,940)
		(76,112) £
		647,132 571,020 _£ _
	161,675 558,825

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

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 2023 and 2024, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. 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 2022

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 2022

2. DONATIONS AND LEGACIES Unrestricted Restricted Total Funds Funds Funds 2022 2022 2022 £ £ £ Regular giving donations from individuals 315,713 - 315,713 Other donations from individuals 126,510 200 126,710 Legacies 385,052 - 385,052 Tanzania Rural Revival income - 26,289 26,289 14,303 - 14,303 34,970 223,237 258,207 876,548 £ 249,726 £ 1,126,274 £ Comparative figures for restricted and unrestricted funds in the previous year (2021) are at 3. INCOME FROM TRADING ACTIVITIES Unrestricted Restricted Total Funds Funds Funds 2022 2022 2022 £ £ £ Rent receivable 84,500 - 84,500 Events income - - - Other fundraising income 1,937 - 1,937 86,437 £ Nil £ 86,437 £ Comparative figures for restricted and unrestricted funds in the previous year (2021) are at 4. INCOME FROM INVESTMENTS Unrestricted Restricted Total Funds Funds Funds 2022 2022 2022 £ £ £ Interest receivable 420 - 420 420 £ Nil £ 420 £ 5. GRANTS AND DONATIONS FROM INSTITUTIONS 2022 £ United Reformed Church 12,987 Other Faith Groups 1,316 14,303 £ 6. 2022 £ Christian Aid 5,000 Fondacija Drustv - PVA - JA Charitable Trust 3,000 Jusaca Trust 10,000 Knight Charitable Trust 250 Grants and donations from charities (see note 6) Grants and donations from institutions (see note 5) GRANTS AND DONATIONS FROM CHARITIES	Total Funds 2021 £ 334,932 137,098 219,515 21,880 44,258 233,663
	991,346 _£ _
	Note 21. Total Funds 2021 £ 84,500 435 2,316
	87,251 _£ _
	Note 21. Total Funds 2021 £ 237
	237 _£ _
	2021 £ 43,237 1,021
	44,258 _£ _
	2021 £ 5,000 8,335 3,000 10,000 200

/cont

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2022

Unrestricted Funds 2022 £ 23,954 130,688 61,688	Restricted Funds 2022 £ - - -	15,000 1,000 1,000 - 120 300 - 3,000 186,708
		233,663 _£ _
		Total Funds 2021 £ 35,389 106,826 59,714
216,330 £	Nil £	201,929 _£ _

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 (2021) are at Note 21.

Unrestricted Funds 2022 £ 650,000	Restricted Funds 2022 £ 241,234	Total Funds 2021 £ 845,759
650,000 £	241,234 £	845,759 _£ _
-	31,371	- 11,581
Nil £	31,371 £	11,581 _£ _
Unrestricted Funds 2022 £	Restricted Funds 2022 £	Total Funds 2021 £
13,224 £	Nil £	16,510 _£ _

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

Property and support costs Mortgage interest Depreciation Bank and similar charges Insurance Maintenance costs Legal fees Total charitable activities	Unrestricted Funds 2022 £ 4,313 14,111 5,170 1,755 4,080 877	Restricted Funds 2022 £ - - - - - -	Total Funds 2022 £ 4,313 14,111 5,170 1,755 4,080 877 30,306 £ 966,135 £	Total Funds 2021 £ 2,472 14,111 5,921 1,631 - 53
	30,306 £	Nil £		24,188 _£ _
	693,530 £	272,605 £		898,038 _£ _

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 £12,900 (2021 : £16,336), subscription costs of £277 (2021 : £174), and travel costs of £47 (2021 : £0).

Comparative figures for restricted and unrestricted funds in the previous year (2021) are at Note 21.

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	2022 £ 14,111 12,900 2022 £ 117,447 6,783 6,458 130,688 £	2021 £ 14,111 16,336
		2021 £ 96,177 5,456 5,193
		106,826 _£ _

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 6.7 (2021 : 6.0).

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. One Director (2021 : nil) was reimbursed for travel and subsistence expenses to attend meetings of £47 (2021 : £nil) and one Director receives a governance magazine costing £277 (2021 : £174) paid for by the Trust.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

During the year, £491 (2021 : £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 £31,217 (2021 : £29,474). 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, three of the directors were also directors of Global Justice Now: Nicola Ansell; Adrian Lance; and Sunit Bagree. 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 £60,113 (see Note 15.)

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 £375 (2021 - £204). Several directors also made unrestricted donations to Global Justice Now.

12. CAPITAL COMMITMENTS

There were no capital commitments at 31 December 2022 (2021 : £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	2022 £ 1,408,931 1,408,931 215,123 14,111 229,234 1,179,697 £	2021 £ 1,408,931
		1,408,931
		201,012 14,111
		215,123
		1,193,808 _£ _

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 2022

14. DEBTORS Legacy debtors Other debtors and accrued income	2022 £ 212,341 84,111 296,452 £	2021 £ 126,420 100,458
		226,878 _£ _

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 Mortgage repayable in one year Amount due to Global Justice Now Deferred grant income Accruals	2022 £ 14,653 60,113 267,744 12,900 355,410 £	2021 £ 16,468 130,405 - 23,880
		170,753 _£ _

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.

Deferred grant income Balance at 1 January 2022 Amount deferred in the year Balance at 31 December 2022	- 267,744 267,744 £	- -
		Nil £

Grants from the Polden Puckham Charitable Foundation and from the Open Society Foundations for work starting in 2023 were received in December 2022.

16. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR Mortgage repayable between 1 to 5 years Mortgage repayable in more than 5 years	2022 £ 67,601 75,378 142,979 £	2021 £ 69,098 88,304
		157,402 _£ _

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 13½% 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.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2022

17. FINANCIAL INSTRUMENTS Cash at bank and in hand Financial assets that are debt instruments measured at amortised cost Legacy debtors Other debtors Financial liabilities measured at amortised cost Amount due to Global Justice Now Deferred grant income Accruals Loan - mortgage 18. STATEMENT OF FUNDS Brought Incoming Resources Forward Resources Expended £ £ £ RESTRICTED FUNDS Tanzania Rural Revival Project 14,088 26,289 (31,371) OSF - with JT & UAEM - 223,237 (160,205) People's Vaccine Alliance 80,829 - (80,829) Other restricted donations - 200 (200) 94,917 249,726 (272,605) DESIGNATED FUNDS Building reserve 1,019,938 - (14,111) UNRESTRICTED FUND Accumulated Fund 548,696 963,405 (895,749) 1,663,551 £ 1,213,131 £ (1,182,465) £	17. FINANCIAL INSTRUMENTS Cash at bank and in hand Financial assets that are debt instruments measured at amortised cost Legacy debtors Other debtors Financial liabilities measured at amortised cost Amount due to Global Justice Now Deferred grant income Accruals Loan - mortgage 18. STATEMENT OF FUNDS Brought Incoming Resources Forward Resources Expended £ £ £ RESTRICTED FUNDS Tanzania Rural Revival Project 14,088 26,289 (31,371) OSF - with JT & UAEM - 223,237 (160,205) People's Vaccine Alliance 80,829 - (80,829) Other restricted donations - 200 (200) 94,917 249,726 (272,605) DESIGNATED FUNDS Building reserve 1,019,938 - (14,111) UNRESTRICTED FUND Accumulated Fund 548,696 963,405 (895,749) 1,663,551 £ 1,213,131 £ (1,182,465) £	17. FINANCIAL INSTRUMENTS Cash at bank and in hand Financial assets that are debt instruments measured at amortised cost Legacy debtors Other debtors Financial liabilities measured at amortised cost Amount due to Global Justice Now Deferred grant income Accruals Loan - mortgage 18. STATEMENT OF FUNDS Brought Incoming Resources Forward Resources Expended £ £ £ RESTRICTED FUNDS Tanzania Rural Revival Project 14,088 26,289 (31,371) OSF - with JT & UAEM - 223,237 (160,205) People's Vaccine Alliance 80,829 - (80,829) Other restricted donations - 200 (200) 94,917 249,726 (272,605) DESIGNATED FUNDS Building reserve 1,019,938 - (14,111) UNRESTRICTED FUND Accumulated Fund 548,696 963,405 (895,749) 1,663,551 £ 1,213,131 £ (1,182,465) £	2022 £ 716,457 212,341 84,111 60,113 267,744 12,900 157,632 Transfers £ - - - - - 16,238 (16,238) Nil £	2021 £ 571,020 126,420 100,458 130,405 - 23,880 173,870 Carried Forward £ 9,006 63,032 - -
	249,726 - 963,405	(272,605) (14,111) (895,749)		72,038 1,022,065 600,114
	1,213,131 £	(1,182,465) £		1,694,217 £

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

During the year, the Trust received a grant of £223,237 for work on pharmaceuticals together with Just Treatment and UAEM (Universities Allied for Essential Medicines.) £160,205 was spent during the year, with the balance of £63,032 for expenditure in 2023.

In 2021 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 fully 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 (2021) are at Note 21.

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Net current assets Creditors due in more than one year	Unrestricted Funds Designated Accumulated Funds Fund 2022 2022 £ £ 1,179,697 - (14,653) 600,114 (142,979) - 1,022,065 £ 600,114 £	Unrestricted Funds Designated Accumulated Funds Fund 2022 2022 £ £ 1,179,697 - (14,653) 600,114 (142,979) - 1,022,065 £ 600,114 £	Restricted Funds 2022 £ - 72,038 - 72,038 £	Total Funds 2022 £ 1,179,697 657,499 (142,979)
	1,022,065 £	600,114 £		1,694,217 £

Comparative figures for restricted and unrestricted funds in the previous year (2021) are at Note 21.

20. MINIMUM FUTURE LEASE INCOME

The Company has leased its property to Global Justice Now, under a 5-year operating lease which expires on 13 August 2026. The quarterly rent payable is £21,125; rent paid in 2022 was £84,500. The outstanding cash commitment of the lease at the year-end was £305,821, of which £84,500 is payable in 2023, and £221,321 within two to five years.

21. RESTRICTED AND UNRESTRICTED FUNDS: COMPARATIVE FIGURES FOR THE PRIOR YEAR 2021

STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Funds 2021 £ 757,468 87,251 237	Restricted Funds 2021 £ 233,878 - -	Total Funds 2021 £ 991,346 87,251 237
844,956	233,878	1,078,834
201,929 750,698	- 147,340	201,929 898,038
952,627	147,340	1,099,967
(107,671) 1,676,305	86,538 8,379	(21,133) 1,684,684
1,568,634 £	94,917 _£ _	1,663,551 £

/cont

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

Comparative Figures For The Prior Year 2021 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 2021 £ 334,932 136,143 219,515 - 44,258 22,620	Restricted Funds 2021 £ - 955 - 21,880 - 211,043	Total Funds 2021 £ 334,932 137,098 219,515 21,880 44,258 233,663
	757,468 _£ _	233,878 _£ _	991,346 _£ _

Comparative Figures For The Prior Year 2021 Note 3 : Income From Trading Activities

Rent receivable Events income Other fundraising income	Unrestricted Funds 2021 £ 84,500 435 2,316	Restricted Funds 2021 £ - - -	Total Funds 2021 £ 84,500 435 2,316
	87,251 _£ _	Nil £	87,251 _£ _

Comparative Figures For The Prior Year 2021 Note 7 : Fundraising Costs

Direct fundraising costs Staff costs Support costs	Unrestricted Funds 2021 £ 35,389 106,826 59,714	Restricted Funds 2021 £ - - -	Total Funds 2021 £ 35,389 106,826 59,714
	201,929 _£ _	Nil £	201,929 _£ _

Comparative Figures For The Prior Year 2021 Note 8 : Charitable Activites

Unrestricted Funds 2021 £ 710,000	Restricted Funds 2021 £ 135,759	Total Funds 2021 £ 845,759
710,000 _£ _	135,759 _£ _	845,759 _£ _
-	11,581	11,581
Nil £	11,581 _£ _	11,581 _£ _

/cont

GLOBAL JUSTICE NOW TRUST

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2022

Note 8 : Charitable Activites continued Unrestricted Funds 2021 £ Governance costs 16,510 £ Property and support costs Mortgage interest 2,472 Depreciation 14,111 Bank and similar charges 5,921 Insurance 1,631 Legal fees 53 24,188 £ Total charitable activities 750,698 £ Comparative Figures For The Prior Year 2021 Note 18 : Statement Of Funds Brought Incoming Forward Resources £ £ RESTRICTED FUNDS Tanzania Rural Revival Project 3,789 21,880 Tudor Trust 4,200 - Joffé Charitable Trust 390 - Anonymous Trust - 15,000 Oakdale Trust - 1,000 People's Vaccine Alliance - 195,043 Other restricted donations - 955 8,379 233,878 DESIGNATED FUNDS Building reserve 1,017,010 - 1,017,010 - UNRESTRICTED FUND Accumulated Fund 659,295 844,956 1,684,684 £ 1,078,834 £ Comparative Figures For The Prior Year 2021 Note 19 : Analysis Of Net Assets Between Funds	Unrestricted Funds 2021 £	Restricted Funds 2021 £	Total Funds 2021 £ 16,510 £ 2,472 14,111 5,921 1,631 53 24,188 £ 898,038 £ Transfers £ - - - - - - - - 17,039 17,039 (17,039) Nil £	Carried Forward £ 14,088 - - - - 80,829 -
	16,510 _£ _	Nil £
	2,472 14,111 5,921 1,631 53	- - - - -
	24,188 _£ _	Nil £
	750,698 _£ _	147,340 _£ _
		Resources Expended £ (11,581) (4,200) (390) (15,000) (1,000) (114,214) (955)
	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 _£ _

Tangible fixed assets Net current assets Creditors due in more than one year	Unrestricted Funds Designated Accumulated Funds Fund 2021 2021 £ £ 1,193,808 - (16,468) 548,696 (157,402) - 1,019,938 £ 548,696 _£ _		Restricted Funds 2021 £ - 94,917 - 94,917 _£ _	Total Funds 2021 £ 1,193,808 627,145 (157,402)
	1,019,938 _£ _	548,696 _£ _		1,663,551 _£ _

		Unrestricted Funds	Unrestricted Funds	Unrestricted Funds		Restricted		Total
	Designated		Accumulated			Funds		Funds
		Funds		Fund
		2021		2021		2021		2021
		£		£		£		£
Tangible fixed assets		1,193,808		-		-		1,193,808
Net current assets		(16,468)		548,696		94,917		627,145
Creditors due in more than one year		(157,402)		-		-		(157,402)
	_£ _	1,019,938	_£ _	548,696	_£ _	94,917	_£ _	1,663,551