2023-12-31-accounts - World Harvest (UK)

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WORLD HARVEST (UK)

Charity Registration Number: 1071929

31 December 2023

Annual Report and Financial Statements

Tandem Accounting Limited Chartered Accountants 17 Heathville Road London N19 3AL

WORLD HARVEST (UK)

Annual Report and Financial Statements 2023 Contents

	Page
Legal and administrative information	2
Annual Report of the Trustees	3
Independent Examiner’s report to the Trustees	7
Statement of financial activities	8
Balance sheet	9
Statement of Cash Flows	10
Notes to the financial statements	11

WORLD HARVEST (UK)

Legal & Administrative Information For the year ended 31 December 2023

Charity Name
World Harvest (UK).
Charity number
1071929. The Charity was formally registered with the Charity Commission on 12 October
1998.
Principal Address
79 Elm Drive, Harrow HA2 7BY
Governing Document
The Charity’s governing document is adeclaration of trust dated 20 February 1998 as
amended by resolution dated 10 April 2012.
Objective
The Charity seeks to advance God's love in the UK & worldwide by church planting,
encouraging grace-renewal, and partnerships in ministry. We also operate a network of
ASHA Charity shops, assisting organizations, particularly in South Asia, by providing funds
for the relief of poverty, healthcare, education, and economic development, including
giving to hospitals, schools in poorer areas.
Trustees
The Trustees who served during the year or who were serving at the date of this report were:
Robert Heppe
Keren Heppe
Matthew Irvine (appointed 15 March 2023)
Marian Petel

Key Management
Personnel
Those in charge of planning, directing, controlling, running, and operating the Charity,
including those members of staff who are the senior management personnel to whom the
trustees have delegated significant authority or responsibility in the day-to-day running of
the charity are the Managing Trustees and the bookkeeper
Bankers
HSBC
2 Station Road
Hayes
Middlesex UB3 4BY
Barclays Bank
1 Churchill Place,
London E14 5HP
Independent examiner
Amarjit Aujla FCCA
21 Woodside Close
Bagshot
Surrey GU19 5FR

WORLD HARVEST (UK)

Annual Report of the Trustees For the year ended 31 December 2023

The Trustees submits its annual report and the financial statements of World Harvest (UK) (“the Charity”) for the year ended 31 December 2023. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.

1. Structure, Governance & Management

1.1 Trustees

Appointment and Induction of Trustees

Elected by vote at a special meeting of the trustees.

We provide a history of the charity, including an overview of the operations, funding sources, a copy of the Trust Deed, and our principles for grant making. We also review guidance to Trustees provided by the Charity Commission. Trustees are officially accepted at a following meeting.

Organisation

The Trustees oversee a “working group” of voluntary leaders who function as the operations committee of the Charity and is responsible for the day to day activities of the Charity. The working group includes two trustees and a third volunteer who is not a trustee. The Trustees as a whole are involved with critical issues that may arise, as well as deciding on the budget and the making of grants

1.2 Risk Management

The Trustees’ primary concern and objective is the discipling of individuals for the glory of God. Whilst it is the Trustees’ policy to trust wholly in the Lord that He will work out His purpose to this end, the Trustees also acknowledge that it has a responsibility for the identification and proper management of risks faced by the Trustees in achieving their primary aim. The Trustees have therefore assessed the major risks to which the Charity is exposed, in particular those relating to the specific operational areas of the Charity, its investments and its finances. The Trustees believe that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by the Trustees, they has established effective systems and procedures to mitigate those risks.

A brief summary of the risk register is as follows.

Operational Area	Risk	Management
Security & Safeguarding	There is a major security, safeguarding, or health & safety incident	Safeguarding – there is a safeguarding policy in place and two designated safeguarding officers. All volunteers who have direct contact with children or vulnerable adults as well as Pastoral team members are required to have a DBS, which is renewable every three years; we ensure that insurance policies are up-to-date and cover us for identified risks; we maintain up-to-date incident logs
Finances	Income and expenditure: there is a risk that expenditure could exceed income	To mitigate these potential risks the Trustees have approved an unrestricted funds budget which shows a surplus of income over expenditure. Monthly management accounts are prepared comparing income and expenditure with budget; Charity officials ensure proper authorisation of expenditure in line with the target operational cash reserves of two months’ budgeted expenditure.
	Potential liabilities: there is an uninsured liability which crystallises	To mitigate this potential risk, we ensure that insurance policies are up-to- date and include employer’s liability, public liability, buildings insurance, contents insurance and property owner’s liability

WORLD HARVEST (UK)

Annual Report of the Trustees For the year ended 31 December 2023

2. Activities & Strategies

Preaching the Gospel
Assisting church services, prayer meetings and Bible studies
Operating Charity Shops with the dual purpose of blessing the local community and generating income to advance the gospel and to aid relief of poverty, health, education and development, with an emphasis on South Asia
Resource churches through the recruitment and placement of cross-cultural Ministers of Religion
Assisting churches in running programs to serve physical and emotional needs in their respective communities (such as Moms & Tots Groups, Kids Clubs, Teen Youth Programs, Feeding the homeless …).
Provide Financial Grants to help Agencies working in the Developing world, particularly South Asia, to provide health and education services, economic development, and other activities to relieve the effects of poverty and injustice.

Public Benefit

The trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission and, in particular, the specific guidance on charities for the advancement of religion.

Volunteers help in our five Charity shops by sorting through donations and generally assisting in keeping the shops clean and tidy. Those in the Duke of Edinburgh Volunteer program give one hour a week; others, usually, retirees, may volunteer one or two shifts per week (3-4 hours per shift). Volunteers are a great help to the Charity.

Fundraising

The Charity engaged in fundraising in the form of receiving donations, some of which were gift-aided. We did not contract the service of any professional fundraisers as defined by section 58 of the Charities Act 1992. Other than publicly inviting an offering at every service, we do not engage in persistent fundraising or intrusive fundraising practices with any of our donors, including vulnerable people, and we never have private or coercive discussions with individuals about their giving. Our fundraising practices are ethical and in accordance with Biblical principles. No complaints were received about our fundraising practices.

Other than the Charity shops, which have a dual purpose of generating funds and blessing the community both physically (by providing quality inexpensive recycled products) and spiritually (through offering friendship, prayer and Bible study), we do not have specialised fund raising activities. The operating charity shops are as follows:

ASHA 44 Belgrave Road, Leicester LE4 5AS	Rent
ASHA 205 Kenton Road, HA3 0HD	Rent
ASHA 1 Broadway Parade, Pinner Road, North Harrow HA2 7SY	Rent
ASHA 155 Norwood Road, Southall UB2 4JB	Owned
ASHA 68 Vicarage Farm Road, Hounslow TW5 0AB	Owned

3. Achievements and Performance

We continue to assist churches in the ministry of the gospel in word and deed in Southall, Heston, Harrow, High Wycombe, and Tower Hamlets. In these areas we assist in the planting of local churches, and in the outreach activities of the local church.
We no longer assist in Shepherds Bush as that ministry has closed down. And the ministry in Walthamstow, and its Minister, with the funds designated for it, was transferred to another Christian organization.
In 2021-2022 we expanded church work to include Hounslow. As a result, a new church was formed in 2023. The Hounslow Town Church has emerged from this effort.
We continue to assist ministries such as After Schools Clubs, Moms and Totts, and Young Life (Teen Ministry) in connection with the churches we assist.
Our annual LEAP Week had close to 80 in attendance.
the shops. Funds generated through ASHA have benefitted health, education, and development work in South Asia primarily.

WORLD HARVEST (UK)

Annual Report of the Trustees For the year ended 31 December 2023

In 2023 a team of volunteers substantially refurbished ASHA Southall, including repainting the interior, laying a new floor, new lighting, and replacing the kitchen area. They also did work on 35 Mount Avenue. On the latter property we engaged a builder to install a new kitchen.
Grants of £62,329 were distributed to institutions and individuals. This represents a material increase when compared with the previous year’s grant giving. It included a £21,000 Grant to Christian Associates UK, from funds designated to a WHUK worker who moved over to Christian Associates. Also, £27,723 was transferred within our books to missionaries working under Serge Global, USA, to be distributed in future periods. Grants made were for the purposes of:
Education & Training in the developing world
Relief of poverty
Promoting justice for the oppressed
Biblical Training & Gospel Proclamation
Health care

4. Financial Review

The Charity’s main sources of funding are voluntary donations from individuals and churches and charitable trading via the resale of donated goods to our ASHA Charity shops.

4.1 Financial Activity and Financial Position

The Statement of Financial Activities and Balance Sheet can be found on pages 8 and 9 respectively. The Charity’s reserves decreased by £40,420 during the year (2022 – increased by £65,913). The balance sheet shows total net assets of £1,130,913 (2022: £1,171,333).

Included in total funds are amounts totalling £98,225 (2022: £109,436) which are restricted. These monies have either been raised for, and their use restricted to, specific purposes, or they comprise donations subject to donor imposed conditions. Full details of these restricted funds can be found in note 10 to the accounts together with an analysis of movements in the year.

4.2 Reserves Policy

The Trustees has examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets and programme related investments. The Trustees considers that, given the nature of the Charity’s work, free reserves should be equivalent to approximately 3 months’ routine general fund expenditure, plus committed future expenditure on other projects, where funds permit. The Trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources and will allow the Charity to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2023 the Charity had net free reserves of £95,407 (2022: £126,320) as follows:

£95,407 (2022: £126,320) as follows:
Total reserves Less: restricted funds Less: unrestricted fixed assets used for the continuing work of the Charity Add: loan (long term) Free reserves Free reserves requirement: 3 month’s budgeted routine expenditure	2023	2022 £ 1,171,333 (109,436) (1,275,000) 339,423 126,320 140,000
	£

	1,130,913
	(98,225)
	(1,275,000)
	337,719

	95,407


	140,000

The Trustees are aware that free reserves requirement is in excess of the free reserves deficit and are actively looking at ways in which the gap can be legitimately reduced in accordance with the charitable objectives.

WORLD HARVEST (UK)

Annual Report of the Trustees For the year ended 31 December 2023

4.3 Investment Policy

The Charity holds investment properties. Cash balances are held at HSBC and balances not expected to be used in the short term are held in a deposit account in order to earn interest.

4.4 Grants Policy

Grants are budgeted on the basis of financial performance of our Charity shops in the prior year. Grants are biased toward health, education and development, along with teaching of the Bible, among South Asians in Britain and South Asia

5. Plans for Future Periods

During 2024, the Charity expects to:

continue efforts to bring the message of the Bible to adults and children in the community by means of assisting local churches with sponsored manpower
continue activities for young people in the community
develop links with the local Muslim, Hindu and Sikh communities
generate income for Grants through the Charity shops
renovate the house on Foleshill Road, Coventry, which has been empty and needs complete overhaul, in order to let it.

6. Responsibilities of Trustees for the Financial Statements

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with 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).

The law applicable to charities in England & 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 of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

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

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

7. Approval

The report of the Trustees was approved by the Trustees on 22 January 2025 and signed on its behalf by:

Robert Heppe

Robert Heppe Trustee

WORLD HARVEST (UK)

Report of the Independent Examiner to the Trustees of World Harvest (UK)

I report on the financial statements of World Harvest (UK) for the year ended 31 December 2023, set out on pages 8 to 19.

This report is made solely to the Trustees in accordance with section 145 of the Charities Act 2011 (“the Act”). My independent examination has been undertaken so that I might state to the 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 the law, I do not accept responsibility to anyone other than the Trust and the Trustees for my independent examination, for this report, or the opinions I have formed.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The Trustees considers that an audit is not required for this year (under section 144(2) of the Act) and that an independent examination is needed.

It is my responsibility to:

Examine the accounts (under section 145 of the Act);
To follow the procedures laid down in the General Direction given by the Charity Commission (under section 145(5)(b) of the Act); and
To state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.

INDEPENDENT EXAMINER’S STATEMENT

I have completed my examination. Other than a discrepancy of £1.53 identified in the HSBC BMM Account balance, which is considered immaterial and thus not affecting the financial position of the Charity, I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the church as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed

Amarjit Aujla Amarjit Aujla FCCA Date: 20 January 2025

WORLD HARVEST (UK)

Statement of Financial Activities For the year ended 31 December 2023

Unrestricted Funds 2023 £ 44,733 7,450 464,700 26,884 1,218		Unrestricted Funds 2022 £ 12,008 15,110 450,495 26,854 1,360	Total 2022 £ 270,064 15,110 450,495 26,854 1,642
	Total
	2023
	£

	240,776
	9,269
	464,700
	26,884
	1,218

544,985		505,827	764,165
	742,847

417,842 161,408 579,250 - (34,265) 5,056 (29,209) 1,061,897 1,032,688		303,999 150,773	303,999 394,973

	417,842
	365,425

		454,772	698,972
	783,267

		-	-
	-

		51,055	65,193
	(40,420)

		7,820	0
	0

		58,875 1,003,022	65,193 1,106,140
	(40,420)

	1,171,333

		1,061,897	1,171,333

	1,130,913

WORLD HARVEST (UK)

Balance Sheet As at 31 December 2023

Note Fixed Assets Tangible Assets 5 Investments 6 Current Assets Debtors 7 Cash At Bank And In Hand Creditors - Amounts Falling Due Within One Year 8 Net Current Assets Creditors - Amounts Falling Due After More Than One Year 9 Net Assets Represented by: Restricted Income Funds 10 Unrestricted Income Funds Total Funds	Unrestricted Funds 2023 £ 375,000 900,000 1,275,000 8,184 137,747 145,931 50,524 95,407 337,719 1,032,688 - 1,032,688 1,032,688		Restricted Funds 2023 £ - - 0 - 98,225 98,225 - 98,225 - 98,225 98,225 - 98,225			Total 2022 £ 1,275,000 -
				Total
				2023
				£

				375,000
				900,000

						1,275,000 20,005 256,630
				1,275,000

				8,184
				235,972

						276,635 40,879
				244,156

				50,524

						235,756
				193,632

						339,423


				337,719

						1,171,333
				1,130,913

						109,436 1,061,897


				98,225
				1,032,688

						1,171,333
				1,130,913

The financial statements were approved by the Trustees on 22 January 2025 and signed on its behalf by:

Robert Heppe Trustee

WORLD HARVEST (UK)

Statement of Cash Flows For the year ended 31 December 2023

Note Net cash flows from operating activities 11 Cash flows from investing activities: Dividends, interest and rents from investments Net cash used in investing activities Cash flows from financing activities Repayments of borrowing Cash outflows from financing costs Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents brought forward Cash and cash equivalents carried forward	Unrestricted Funds 2023 £ (10,155) 26,884 26,884 4,426 (30,602) (26,176) (9,447) 147,194 137,747	Restricted Funds 2023 £ (11,211) - 0 - - 0 (11,211) 109,436 98,225		Total 2022 £ 39,312 26,854	) ) )
			Total
			2023
			£

			(21,366)


			26,884

				26,854
			26,884

				(39,325 (19,042


			4,426
			(30,602)

				(58,367
			(26,176)

				7,799 248,831

			(20,658)

			256,630

				256,630
			235,972

WORLD HARVEST (UK)

Notes to the Financial Statements For the year ended 31 December 2023

1. Accounting Policies

World Harvest UK is an unincorporated charity. The registered office is 79 Elm Drive, Harrow HA2 7BY.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of investment properties which are shown at market value.

The Charity meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the Charity has entitlement to the income, it is probable the income will be received, and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.

Investment income includes rental income from the letting of the Charity’s freehold land and buildings and is accounted for when earned.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. The Charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Charitable expenditure includes those costs in fulfilling the Charity’s principal objects, as outlined in the Report of the Trustees. These include grants payable and governance costs:

Grants payable are payments made to third parties in furtherance of the Charity’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Charity.
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.

Tangible Fixed Assets

Tangible fixed assets costing more than £1,000 are capitalised and stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of the fixed asset, less their estimated residual value, over their expected useful lives of 4 years. No depreciation is charged in respect of freehold land and buildings, as the residual value of the property after its estimated useful life is anticipated to be at least the carrying value of the property shown in the financial statements.

WORLD HARVEST (UK)

Notes to the Financial Statements For the year ended 31 December 2023

1. Accounting Policies (continued)

Investments

Properties not held for charitable use and instead held for investment return are shown as fixed asset investments. Fixed asset investments are stated at historical cost or estimated value, with valuations reviewed periodically to ensure they remain reasonable and reflective of current conditions.

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Fund accounting

The funds held by the charity are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

WORLD HARVEST (UK)

Notes to the Financial Statements For the year ended 31 December 2023

2. Income

Donations & legacies Offerings and donations Income tax reclaimed Charitable activities Rent Other trading activities Shop sales Recycling Investment income Property rental income Bank Interest Other income Sponsorship fees	Unrestricted Funds 2023 £ 43,901 832 44,733 7,450 7,450 424,889 39,811 464,700 26,877 7 26,884 1,218 544,985	Restricted Funds 2023 £ 191,188 4,855 196,043 1,819 1,819 - - 0 - - 0 - 197,862				Total 2022 £ 265,699 4,365
				Total
				2023
				£

				235,089
				5,687

						270,064 15,110

				240,776

				9,269

						15,110 411,426 39,069
				9,269

				424,889
				39,811

						450,495 26,850 4
				464,700

				26,877
				7

						26,854 1,642
				26,884

				1,218

						764,165
				742,847

3. Expenditure

Expenditure on raising funds: Shop personnel costs Shop stock costs Shop operating costs Shop property upkeep costs Shop property rent and financing costs Expenditure on charitable activities: Mission – personnel costs Mission – grants & gifts Mission – other costs Office costs	Unrestricted Funds 2023 £ 217,243 295 29,283 66,127 104,894 417,842 108,622 41,038 476 11,272 161,408 579,250	Restricted Funds 2023 £ - - - - - 0 154,798 21,291 27,928 - 204,017 204,017				Total 2022 £ 189,433 51 24,997 34,268 55,250
				Total
				2023
				£

				217,243
				295
				29,283
				66,127
				104,894

						303,999 267,472 47,246 71,114 9,141
				417,842

				263,420
				62,329
				28,404
				11,272

						394,973
				365,425

						698,972
				783,267

WORLD HARVEST (UK)

Notes to the Financial Statements For the year ended 31 December 2023

3. Expenditure (continued)

3a Staff Costs

Included within Expenditure on Raising funds and Expenditure of Charitable Activities are the following staff costs:

Gross salaries Employer’s National Insurance Employer’s Annual Allowance Pension contributions Christmas bonus Of which the following salaries and pension contributions were in relation to Key Management Personnel: Gross salaries National Insurance Pension contributions		2023		2022
		£		£

		454,579		424,936
		27,266		26,090
		(5,000)		(5,000)
		6,607		6,012
		4,115		4,834

		487,567		456,872



		6,816		4,144
		88		-
		-		-

No employee received emoluments in excess of £60,000 during the year.

The average number of employees during the year: Full time workers Part time workers		2023		2022
		Number		Number

		7		7
		25		24

		32		31

WORLD HARVEST (UK)

Notes to the Financial Statements For the year ended 31 December 2023

3. Expenditure (continued)

3b. Gifts/grants to organisations and individuals

Included within Expenditure on Charitable Activities are the following gifts to organisations and individuals:

Gifts/grants to organisations Baptist Welfare society Education Biblical Baptist Church Ministries Development Chinchpada Christian Hospital Medical Christ School Bundibugyo Education Christian Associates UK Missions Creative Communities Missions Delhi Bible Institute Education/Gospel Proclamation Friends of ASHA Development/Relief Gideon Peter Ministries Development/Gospel Proclamation Glory TV Gospel Proclamation Himalayan Inland Mission Education/Gospel Proclamation Jaranwala Village Relief Ketchwa Hospital Medical Kush Khbari Fellowship Missions / Multifaith Dialogue Landour Community Hospital Medical New Life Masih Ghar Missions Shineland School Education South Asian Concern Development/Medical Sugandh Development Thana Trust Medical Gifts/grants to individuals	Unrestricted Funds 2023 £ Restricted Funds 2023 £ - - 1,000 - 1,000 - 783 - - 21,291 2,000 - 6,000 - 1,555 - 750 - 250 - 6,000 - 1,000 - 1,000 - - - 2,000 - 2,000 - 1,000 - - - 1,250 - 1,750 - 29,338 21,291 11,700 - 41,038 21,291				Total 2022 £ 950 - 2,000 750 - - 5,000 2,500 1,000 250 4,500 - - 1,000 - - - 3,000 - 1,500
			Total
			2023
			£

			-

			1,000
			1,000

			783
			21,291
			2,000
			6,000
			1,555

			750
			250
			6,000
			1,000
			1,000
			-

			2,000
			2,000
			1,000
			-
			1,250
			1,750

					22,450 24,796
			50,629

			11,700

					47,246
			62,329

All grants are given either for the advancement of the Christian faith or the relief of poverty.

4. Net (Deficit)/Surplus

Net (deficit)/surplus is stated after charging:

Unrestricted Funds 2023 £ Restricted Funds 2023 £ Independent examiner’s remuneration 150 - Depreciation – owned assets - - Operating lease rentals 55,250 -				Total 2022 £ - - 55,250
		Total
		2023
		£

		150
		-
		55,250

WORLD HARVEST (UK)

Notes to the Financial Statements For the year ended 31 December 2023

5. Tangible Fixed Assets

Cost At 1 January 2023 Additions Disposals Transfers to fixed asset investments At 31 December 2023 Depreciation At 1 January 2023 Charge For Year Disposals At 31 December 2023 Net Book Value At 31 December 2023 At 31 December 2022	Freehold land & buildings: Charity £ 1,275,000 - - (900,000) 375,000 - - - 0 375,000 1,275,000

Following a review, the trustees reclassified certain tangible fixed assets (see note 6) as investment properties.:

The freehold land and property is the residential accommodation at 35 Mount Avenue, Southall UB1 2LH.

6. Fixed Asset Investments

Investment properties At 1 January Revaluation Disposals/redemptions Transfer from tangible fixed assets At 31 December		2023		2022 £ - - - -
		£

		-
		-
		-
		900,000

				0
		900,000

Following a review, the trustees reclassified the following tangible fixed assets (see note 5) as investment properties:

Address	Configuration	31 December 2023
508 Foleshill Road, Coventry CV6 5HP	Former Shop (undergoing residential conversion)	100,000
ASHA 155 Norwood Road,Southall UB2 4JB	Shop& residential	400,000
ASHA 68 Vicarage Farm Road,Hounslow TW5 0AB	Shop& residential	400,000
		900,000

The charity has not recently revalued its properties and has recognised them at historical cost or estimated value, based on the original purchase price and associated acquisition costs.

WORLD HARVEST (UK)

Notes to the Financial Statements For the year ended 31 December 2023

7. Debtors

Prepayments Gift Aid Receivable Other Debtors		2023		2022 £ - - 20,005
		£

		-
		832
		7,351

				20,005
		8,183

8. Creditors - Amounts Falling Due Within One Year

Accruals Trade creditors Other creditors including tax and social security Loan		2023		2022 £ - 1,936 38,943
		£

		1,246
		4,205
		45,073

				40,879
		50,524

Loan terms: repayment date April 2035, interest is payable at 3.3% above the Bank of England Base Rate.

9. Creditors - Amounts Falling Due After More Than One Year

9. Creditors - Amounts Falling Due After More Than One Year
Loans (see note 8 above)	2023	2022 £ 339,423
	£

	337,719

10. Restricted Funds

At 1 January 2023 £	Income £ Expenditure £ Transfers £	Income £ Expenditure £ Transfers £	Income £ Expenditure £ Transfers £	Gains/ (losses) £	At 31	At 31
					December
						2023
						£

102,047	196,043	(203,168)	(4,961)	-		89,961
7,389	1,819	(849)	(95)	-		8,264
0 109,436	- 197,862	- (204,017)	- (5,056)	- 0		0


						98,225

The transfer to the general fund of £5,056 is made up as follows:

£2,000 was transferred from Missions – individuals to unrestricted for the rental cost for accommodation provided by the Charity
£3,056 was transferred mainly in respect of administration fees which the Charity earns on restricted donations received for individuals.

WORLD HARVEST (UK)

Notes to the Financial Statements For the year ended 31 December 2023

10. Restricted Funds (continued)

At 1 January 2023 £	Income £ Expenditure £ Transfers £	Income £ Expenditure £ Transfers £	Income £ Expenditure £ Transfers £	Gains/ (losses) £	At 31	At 31
					December
						2023
						£

103,118	214,807	(208,129)	(7,749)	-		102,047
0	8,390	(916)	(85)	-		7,389
0 103,118	35,141 258,338	(35,155) (244,200)	14 (7,820)	- 0		0


						109,436

The transfers to the general fund of £7,820 is made up as follows:
£2,400 was transferred from Missions – individuals to unrestricted for the rental cost for accommodation provided by the Charity
£5,420 was transferred mainly in respect of the administration fees which the Charity earns on restricted donations received for individuals.

Descriptions of the restricted funds are as follows:

Missions - Individuals : Religious workers / Ministers of Religion who receive contributions in the UK for their ministries in the UK and worldwide. Some are employed by the charity; others work with other organizations to whom the charity sends grants.

Missions - Apprenticeships: This fund is to hold contributions for expenses related to our Cross-Cultural Missions training program.

Missions-Organisations : This fund is to hold contributions for expenses related to other mission organisations. We currently are receiving no funds restricted to other organizations.

11. Reconciliation of net income/(expenditure) to net cash flow from operating activities

Net income for the reporting period (as per the statement of financial activities) Adjustments for: Interest paid Interest from investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by operating activities	Unrestricted Funds 2023 £ (29,909) 30,602 (26,884) 11,821 3,515 (10,855)	Restricted Funds 2023 £ (11,211) - - - - (11,211)		Total 2022 £ 65,193 19,042 (26,854) (20,005) 1,936
			Total
			2023
			£

			(40,420)


			30,602
			(26,884)
			11,821
			3,515

				39,312
			(21,366)

WORLD HARVEST (UK)

Notes to the Financial Statements For the year ended 31 December 2023

12. Analysis of Changes in Net Debt

Cash and cash equivalents Cash Borrowings Debt due within one year Debt due after one year		At 1 January 2023 £ 256,630 (38,943) (339,423) (378,366) (121,736)	Cash flows £ Other non- cash changes £ (20,658) - (6,130) - 1,704 - (4,426) 0 (25,084) 0	Cash flows £ Other non- cash changes £ (20,658) - (6,130) - 1,704 - (4,426) 0 (25,084) 0	Cash flows £ Other non- cash changes £ (20,658) - (6,130) - 1,704 - (4,426) 0 (25,084) 0		At 31
							December
							2023
							£

							235,972


							(45,073)
							(337,719)

							(382,792)

							(146,820)

13. Operating Lease Commitments

The total future minimum lease payments under non-cancellable operating leases are payable:

Not later than one year Later than one year and not later than five years After more than 5 years		2023		2022 £ 40,788 121,560 19,992 182,340
		£

		40,788
		100,764
		-

		141,552

14. Related Party Transactions

The son of Robert Heppe, a Trustee, has an account in his name on the books of the charity. During the year the charity received restricted funds in his name of £1,937 and made payments to him of £4,362. At 31 December the account showed a credit in his name of £20.

The Trustees gave a total of £nil (2022: £nil) in unrestricted offerings and donations during the year.

There were no other related party transactions.