## **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**|
_1_
## **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|**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||
_2_
## **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|
_3_
## **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**
1. 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.
2. 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.
3. 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.
4. 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.
5. Our annual LEAP Week had close to 80 in attendance.
6. the shops. Funds generated through ASHA have benefitted health, education, and development work in South Asia primarily.
_4_
## **WORLD HARVEST (UK)**
## **Annual Report of the Trustees For the year ended 31 December 2023**
7. 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.
8. 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.
_5_
## **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
_6_
**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:
1. accounting records were not kept in respect of the church as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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
.
_7_
## **WORLD HARVEST (UK)**
## **Statement of Financial Activities For the year ended 31 December 2023**
|**Note**
**Income from:**
2
Donations and legacies
Charitable activities
Other trading activities
Investments
Other
**Total Income**
**Expenditure on:**
3
Raising funds
Charitable activities
**Total Expenditure**
Net gains/(losses) on investments
**Net (deficit)/surplus**
4
Transfers between funds
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**
|**Unrestricted**
**Funds**
**2023**
**£**
44,733
7,450
464,700
26,884
1,218||**Restricted**
**Funds**
**2023**
**£**
196,043
1,819
-
-
-
**197,862**
-
204,017
**204,017**
-
**(6,155)**
(5,056)
**(11,211)**
**109,436**
**98,225**||**Unrestricted**
**Funds**
**2022**
**£**
12,008
15,110
450,495
26,854
1,360|
|**Restricted**
**Funds**
**2022**
**£**
258,056
-
-
-
282
**258,338**
-
244,200
**244,200**
-
**14,138**
(7,820)
**6,318**
**103,118**
**109,436**|**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**|||||
||||||||||
||||||||||
_8_
## **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
_9_
## **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**|||
|||||||
|||||||
_10_
## **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.
_11_
## **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.
_12_
## **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**|||
||||||||
||||||||
_13_
## **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**|
||||||
_14_
## **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|||
||||||
||||||
_15_
## **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.
_16_
## **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**
|**10a Current year**
Missions - individuals
Missions - apprenticeships
Missions - organisations||**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.
_17_
## **WORLD HARVEST (UK)**
## **Notes to the Financial Statements For the year ended 31 December 2023**
## **10. Restricted Funds (continued)**
|**10a Prior year**
Missions - individuals
Missions - apprenticeships
Missions - organisations||**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)**|||
|||||||
|||||||
_18_
## **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.
_19_