KEYS TO THE HARVEST TRUST
UNAUDITEDTRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
Charity number: 1070236
KEYS TO THE HARVEST TRUST
| Table of contents | |
|---|---|
| Administrative and management details | 2 |
| Trustees report | 3-5 |
| Independent examiner’s report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 -12 |
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KEYS TO THE HARVEST TRUST
Administrative and management details
Trustees
Jean Patricia Winfred Watson
Teresa Junic Shumba (resigned on 16/8/2021)
David John Lamb
Joyce Ratnamanie Lamb
Robin Leonard Simson Crosby- Chair
Rachael Olayinka Oyedeji
Michael Bruce
David Watson
Charity registered number:
1070236
Principal Office
17 Patrick Clayton Drive Ashford Kent, TN23 3SR
Bankers:
Barclays PLC, 90/92 High Street, Crawley, West Sussex, RH10 1BP
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KEYS TO THE HARVEST TRUST
Trustees’ report for the year ended 31 December 2021
The Trustees present their annual report together with the financial statements of KEYS TO THE HARVEST TRUST (the “Charity”) for the year ended 31 December 2020. The trustees confirm that the annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) – “Accounting and Reporting by Charities” Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective 1 January 2015).
Structure, Governance and Management
Constitution
The principal object of the charity is the advancement of the Christian religion.
Method of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Deed of Trust.
Risk Management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate the exposure of the Charity.
Objectives and Activities
Policies and Objectives
The objects of the charity are to advance Christian Religion and to pursue such other charitable purposes as the Trustees shall from time to time think fit. The main aim of the Charity is to support the ministry of Reverend David Lamb and Pastor Joyce Lamb, and to support other ministries.
Going Concern
The Trustees have considered the financial resources and commitments of the Charity and acknowledge that the Charity’s financial resources are dependent on donations and fund raising activities of the Charity’s management. After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for a foreseeable future. For this reason they continue to adopt the going concern basis in preparing the Charity’s financial statements.
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KEYS TO THE HARVEST TRUST
Trustees’ report for the for year ended 31 December 2021 (cont’d)
Objectives and Activities (cont’d)
Review of Activities
I am pleased to say that despite the difficult year with Covid the charity remains in a strong financial position. It has met all its financial commitments in supporting those in countries it is supporting. It continues to build on the relationships in those countries and seeks to extend those relationships further. The use of Zoom meetings has proved to be useful for the trustees to meet during the year.
Donations to the charity have remain good and the donor base is strong. The charity continues to keep good communications with all its donors and looks to build on its donor base.
As at 31 December 2021, the Charity had £nil and £3,777 (2020: £nil and £3,948) in the funds representing restricted and unrestricted funds respectively.
Outlook for 2022
The Charity’s aim in 2022 is to continue to support the ministry of Rev David Lamb and other specified projects like the Zimbabwe, Kenya mission and the new school of which the budget for the school is £400 per month. Fund raising is going well with monthly committed money plus a number of donations.
The Global School of Supernatural continues fortnightly and the prayers for Israel continues monthly.
We are planning more missions to Poland, India during the coming year.
In the coming year it looks to visit the projects it has in Zambia, Zimbabwe and Takanu Kenya, subject to Covid restrictions being lifted and travel being allowed.
Financial review
Reserves Policy
A reserve of one month’s expenditure amounting to £1,000 (2020: £1,000) is considered adequate. The balance carried forward is well in excess of this figure.
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KEYS TO THE HARVEST TRUST
Trustees’ Responsibility Statement - 2021
The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with the applicable law and the United Kingdom Generally Accepted Accounting Standards (UK GAAP).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and the incoming resources and application of such resources in that period. In preparing these financial statements, the Trustees are required to:
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Select suitable accounting policies and apply these policies consistently;
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Observe the methods and principles of in the Charities SORP;
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Make judgements and accounting estimates that are reasonable and prudent;
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time, the financial position of the Charity and enable them to ensure the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and Provisions of the Trust Deed. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Board of Trustees on 7 October 2022 and signed on their behalf by:
Robin Leonard Simson Crosby, Chair
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KEYS TO THE HARVEST TRUST
Independent Examiner’s report for the year ended 31 December 2021
This is a report solely to the Board of Trustees of KEYS TO THE HARVEST TRUST for the year ended 31 December 2021. This report is prepared in accordance with section 145 of the Charities Act 2011 and the regulations made under section 154 of that Act. My work has been undertaken so that I might state to the Charity’s Board of Trustees those matters I am required to state to them in an Independent examiner ‘s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Board of Trustees for my work and for this report.
Respective responsibilities of trustees and examiner
The Charity’s Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 144(2) of the Charities Acct 2011 (the Act) and that an independent examination is needed.
It is my responsibility to:
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Examine the financial statements under section 145 of the Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5)(b)of the Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the financial statements presented with those records. It also includes considerations of any of the unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the review is limited to those matters set out in the statements below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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1- which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the Act : and
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to prepare financial records with accord with the accounting records and comply with the accounting requirements of the Act have not been met; or
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2- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached
Signed by: Nyasha Dhitima
Dated: 6 October 2022
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KEYS TO THE HARVEST TRUST
Statement of Financial Activities (incorporating the income and expenditure account) for the year ended 31 December 2021
| (expressed in GBP) | Notes | 2020 2021 |
|---|---|---|
| Restricted funds Unrestricted funds Total funds Total funds |
||
| Income resources Incoming resources from generated funds: Incoming resources from charitable activities 2 Total incoming resources Resources expended Charitable activities 3;4 Charity administration costs Governance costs Total Resources expended Movement in total funds for the year - net income/(expenditure) for the year |
£ £ £ £ |
|
| 6,639 18,939 25,577 17,820 |
||
| 6,639 18,939 25,577 17,820 |
||
| (7,390) (15,717) (23,107) (16,582) - (1,642) (1,642) (3,184) - (1,000) (1,000) (1,000) |
||
| (7,390) (18,359) (25,749) (20,767) |
||
| (751) 580 (172) (2,946) |
||
| Total funds at 1 January | - 3,948 3,948 6,895 |
|
| Transfers | 751 (751) - - |
|
| Total funds at 31 December 5;6 |
- 3,777 3,777 3,948 |
The notes on pages 9 to 12 form part of these financial statements
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KEYS TO THE HARVEST TRUST
Balance Sheet as at 31 December 2021
| (expressed in GBP) Notes |
2021 2020 |
|---|---|
| Current assets Books Inventory Cash at hand and cash on hand Creditors: amounts falling due within one year Net Assets 5;6 Charity Funds |
£ £ |
| 2,403 2,607 1,374 1,341 |
|
| 3,777 3,948 - - |
|
| 3,777 3,948 |
|
| Restricted Funds 5;6 Unrestricted Funds 5;6 |
- - 3,777 3,948 |
| Total Funds | 3,777 3,948 |
The financial statements were approved by the Board Trustees on 6 October 2022 and signed on
its behalf by:
Robin Crosby - Chair
The notes on pages 9 to 12 form part of these financial statements
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KEYS TO THE HARVEST TRUST
Notes to the Financial Statements for the year ended 31 December 2021
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective 1 January 2015).
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with the specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and 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.
1.3 Income resources
All incoming resources are included in the Statement of financial activities when the Charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.
Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognized where there is no financial cost bone by a third party.
1.4 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all the costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated in a basis consistent with the use of the resources.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the yearend are noted as a commitment, but not accrued as expenditure.
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KEYS TO THE HARVEST TRUST
Notes to the Financial Statements for the year ended 31 December 2021 (cont’d)
2. Incoming resources from charitable activities
| 2020 2021 |
|
|---|---|
| Restricted funds Unrestricted funds Total funds Total funds |
|
| Donations income Gift aid Net book sales Charity incoming resources |
£ £ £ £ |
| 6,639 14,915 21,553 16,970 - 2,475 2,475 - - 1,549 1,549 850 |
|
| 6,639 18,939 25,577 17,820 |
|
3. Charitable activities
| 2021 2020 |
|
|---|---|
| Restricted funds Unrestricted funds Total funds Total funds |
|
| £ £ £ |
|
| Gifts and donations | 7,390 11,074 18,464 12,490 |
| Travel and mission expenses Stock adjustments Total |
- 4,643 4,643 3,825 - - - 267 |
| 7,390 15,717 23,107 16,582 |
|
Gifts and donations span from gifts and donations given in aid for supporting various ministries and Pastors in Zimbabwe and Kenya.
4. Analysis of Resources Expended by Expenditure type
| 2021 2020 |
|
|---|---|
| Direct costs Governance costs Charity administration costs Total |
£ £ |
| 23,107 16,582 1,000 1,000 1,642 3,184 |
|
| 25,749 20,767 |
|
During the year, no Trustees received any remuneration (2020: £nil). Additionally no Trustees received any benefits in kind (2020: £nil). During the year, no Trustees received any re-imbursement of expenses (2020: £nil).
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KEYS TO THE HARVEST TRUST
Notes to the Financial Statements for the year ended 31 December 2021 (cont’d)
5. Summary of Funds
| Restricted Funds General Funds Total |
|
|---|---|
| Balance brought forward at 1 January 2021 Incoming resources Resources expended Transfers between funds Balance carried forward at 31 December 2021 |
£ £ £ |
| - 3,948 3,948 6,639 18,939 25,577 (7,390) (18,359) (25,749) 751 (751) - |
|
| - 3,777 3,777 |
|
| Restricted Funds General Funds Total |
|
| Balance brought forward at 1 January 2020 | £ £ £ |
| 884 6,011 6,895 |
|
| Incoming resources | 135 17,685 17,820 (1,019) (19,747) (20,767) - - |
| Resources expended Transfer between funds |
|
| Balance carried forward at 31 December 2020 | - 3,948 3,948 |
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KEYS TO THE HARVEST TRUST
Notes to the Financial Statements for the year ended 31 December 2021 (cont’d)
6. Analysis of Net Assets between Funds
| Restricted Funds General Funds Total |
|
|---|---|
| £ £ £ |
|
| Current assets | - 3,777 3,777 |
| Creditors falling due within one year Balance carried as at 31 December 2021 |
- - - |
| - 3,777 3,777 |
|
| Restricted Funds General Funds Total |
|
| Current assets Creditors falling due within one year Balance carried as at 31 December 2020 |
£ £ £ |
| - 3,948 3,948 - - - |
|
| - 3,948 3,948 |
|
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