WORLD HARVEST (UK)
Charity Registration Number: 1071929
31 December 2024
Annual Report and Financial Statements
Tandem Accounting Limited Chartered Accountants 17 Heathville Road London N19 3AL
WORLD HARVEST (UK)
Annual Report and Financial Statements 2024 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 2024
| 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 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 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 ACCA 21 Woodside Close Bagshot Surrey GU19 5FR |
2
WORLD HARVEST (UK)
Annual Report of the Trustees For the year ended 31 December 2024
The Trustees submits its annual report and the financial statements of World Harvest (UK) (“the Charity”) for the year ended 31 December 2024. 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 2024
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, Hounslow, 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 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. There was much prayer, vision casting and sharing the gospel.
-
ASHA Charity shops continue to operate in five locations and continue to be a blessing to the customers who frequent the shops. Funds generated through ASHA have benefitted health, education, and development work in South Asia primarily, although necessary refurbishment and renovations to two properties greatly reduced our ability to give grants in 2024 (see points 5 & 6).
-
This year replacement of the roof of Mt. Avenue and refurbishment of the kitchen (with the help of volunteers), along with a complete renovation of our Coventry property in order to make it fit as a residential rental property cost the charity more than £76,000.
-
As a result of the above expenses, Grants made to institutions and individuals was greatly reduced, down to £7,300.
4
WORLD HARVEST (UK)
Annual Report of the Trustees For the year ended 31 December 2024
-
Grants are given for the purposes of:
-
Education & Training in the developing world
-
Relief of poverty
-
Promoting justice for the oppressed
-
Biblical Training
-
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 £93,973 during the year (2023 – decreased by £40,420). The balance sheet shows total net assets of £1,036,940 (2023: £1,130,913).
Included in total funds are amounts totalling £92,478 (2023: £98,225) 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 2024 the Charity had net free reserves deficit of £26,814 (2023: free reserves of £95,407) 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 |
2024 | 2023 £ 1,130,913 (98,225) (1,275,000) 337,719 95,407 140,000 |
|---|---|---|
| £ | ||
| 1,036,940 | ||
| (92,478) | ||
| (1,275,000) | ||
| 303,724 | ||
| (26,814) | ||
| 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.
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
WORLD HARVEST (UK)
Annual Report of the Trustees For the year ended 31 December 2024
5. Plans for Future Periods
During 2025, 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
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 25[th] July 2025 and signed on its behalf by:
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 2024, set out on pages 8 to 20.
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. 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 charity 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.
Amarjit Aujla ACCA 30[th] October 2025
7
WORLD HARVEST (UK)
Statement of Financial Activities For the year ended 31 December 2024
| 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 6 Net (deficit)/surplus 4 Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted Funds 2024 £ 4,093 16,475 447,742 29,713 538 |
Restricted Funds 2024 £ 187,497 - - - - 187,497 1,729 186,387 188,116 - ( 619) (5,128) (5,747) 98,225 92,478 |
Unrestricted Funds 2023 £ 47,789 7,450 464,700 26,884 1,218 |
Restricted Funds 2023 £ 192,988 1,819 - - - 194,807 657 203,361 204,018 - (9,211) (2,000) (11,211) 109,436 98,225 |
Total 2023 £ 240,777 9,269 464,700 26,884 1,218 |
|||
|---|---|---|---|---|---|---|---|---|
| Total | ||||||||
| 2024 | ||||||||
| £ | ||||||||
| 191,590 | ||||||||
| 16,475 | ||||||||
| 447,742 | ||||||||
| 29,713 | ||||||||
| 538 | ||||||||
| 498,561 | 548,041 | 742,848 | ||||||
| 686,058 | ||||||||
| 421,352 170,563 591,915 - (93,354) 5,128 (88,226) 1,032,688 944,462 |
417,613 161,636 |
418,270 364,997 |
||||||
| 423,081 | ||||||||
| 356,950 | ||||||||
| 579,249 | 783,267 | |||||||
| 780,031 | ||||||||
| - | - | |||||||
| - | ||||||||
| (31,208) | (40,419) | |||||||
| (93,973) | ||||||||
| 2,000 | 0 | |||||||
| 0 | ||||||||
| (29,208) 1,061,896 |
(40,419) 1,171,332 |
|||||||
| (93,973) | ||||||||
| 1,130,913 | ||||||||
| 1,032,688 | 1,130,913 | |||||||
| 1,036,940 | ||||||||
8
WORLD HARVEST (UK)
Balance Sheet
As at 31 December 2024
| 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 2024 £ 375,000 900,000 1,275,000 8,411 19,915 28,326 55,140 (26,814) 303,724 944,462 - 944,462 944,462 |
Restricted Funds 2024 £ - - 0 - 92,478 92,478 - 92,478 - 92,478 92,478 - 92,478 |
Total 2023 £ 375,000 900,000 |
|||
|---|---|---|---|---|---|---|
| Total | ||||||
| 2024 | ||||||
| £ | ||||||
| 375,000 | ||||||
| 900,000 | ||||||
| 1,275,000 8,184 235,972 |
||||||
| 1,275,000 | ||||||
| 8,411 | ||||||
| 112,393 | ||||||
| 244,156 50,524 |
||||||
| 120,804 | ||||||
| 55,140 | ||||||
| 193,632 | ||||||
| 65,664 | ||||||
| 337,719 | ||||||
| 303,724 | ||||||
| 1,130,913 | ||||||
| 1,036,940 | ||||||
| 98,225 1,032,688 |
||||||
| 92,478 | ||||||
| 944,462 | ||||||
| 1,130,913 | ||||||
| 1,036,940 | ||||||
The financial statements were approved by the Trustees on 25[th] July 2025.
Robert Heppe Trustee
9
WORLD HARVEST (UK)
Statement of Cash Flows For the year ended 31 December 2024
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 2024 £ (92,406) 29,713 29,713 (23,928) (31,211) (55,139) (117,832) 137,747 19,915 |
Restricted Funds 2024 £ (5,747) - 0 - - 0 (5,747) 98,225 92,478 |
Total 2023 £ (21,366) 26,884 26,884 4,426 (30,602) (26,176) (20,658) 256,630 235,972 |
|
|---|---|---|---|---|
| Total | ||||
| 2024 | ||||
| £ | ||||
| (98,153) | ||||
| 29,713 | ||||
| 29,713 | ||||
| (23,928) | ||||
| (31,211) | ||||
| (55,139) | ||||
| (123,579) | ||||
| 235,972 | ||||
| 112,393 | ||||
10
WORLD HARVEST (UK)
Notes to the Financial Statements For the year ended 31 December 2024
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 2024
1. Accounting Policies (continued)
Investments
Properties not held for charitable use and instead for investment return are shown as fixed asset investments. Fixed asset investments are stated at market value and revalued each year, based on publicly available local sales information.
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 2024
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 2024 £ 4,093 - 4,093 16,475 16,475 425,429 22,313 447,742 29,700 13 29,713 538 498,561 |
Restricted Funds 2024 £ 185,499 1,998 187,497 - 0 - - 0 - - 0 - 187,497 |
Total 2023 £ 235,090 5,687 |
|||
|---|---|---|---|---|---|---|
| Total | ||||||
| 2024 | ||||||
| £ | ||||||
| 189,592 | ||||||
| 1,998 | ||||||
| 240,777 9,269 |
||||||
| 191,590 | ||||||
| 16,475 | ||||||
| 9,269 424,889 39,811 |
||||||
| 16,475 | ||||||
| 425,429 | ||||||
| 22,313 | ||||||
| 464,700 26,877 7 |
||||||
| 447,742 | ||||||
| 29,700 | ||||||
| 13 | ||||||
| 26,884 1,218 |
||||||
| 29,713 | ||||||
| 538 | ||||||
| 742,848 | ||||||
| 686,058 | ||||||
13
WORLD HARVEST (UK)
Notes to the Financial Statements
For the year ended 31 December 2024
| 3. Expenditure Expenditure on raising funds: Shop personnel costs Shop stock costs Shop operating costs Shop property costs Shop rental costs Shop financing costs Rental property costs Expenditure on charitable activities: Mission – personnel costs Mission – grants & gifts Mission – property Mission – other costs Office costs |
Unrestricted Funds 2024 £ 217,327 - 22,756 30,330 56,375 31,212 63,352 421,352 108,663 7,300 31,766 2,772 20,062 170,563 591,915 |
Restricted Funds 2024 £ - - 1,729 - - - - 1,729 155,313 - - 31,074 - 186,387 188,116 |
Total 2024 £ 217,327 - 24,485 30,330 56,375 31,212 63,352 423,081 263,976 7,300 31,766 33,846 20,062 356,950 780,031 |
Total 2023 £ 217,243 295 29,711 66,127 55,250 49,644 - |
||
|---|---|---|---|---|---|---|
| Total | ||||||
| 2024 | ||||||
| £ | ||||||
| 217,327 | ||||||
| - | ||||||
| 24,485 | ||||||
| 30,330 | ||||||
| 56,375 | ||||||
| 31,212 | ||||||
| 63,352 | ||||||
| 418,270 263,420 62,329 - 27,976 11,272 |
||||||
| 423,081 | ||||||
| 263,976 | ||||||
| 7,300 | ||||||
| 31,766 | ||||||
| 33,846 | ||||||
| 20,062 | ||||||
| 364,997 | ||||||
| 356,950 | ||||||
| 783,267 | ||||||
| 780,031 | ||||||
14
WORLD HARVEST (UK)
Notes to the Financial Statements For the year ended 31 December 2024
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 |
2024 | 2023 | ||
|---|---|---|---|---|
| £ | £ | |||
| 464,015 | 454,579 | |||
| 28,257 | 27,266 | |||
| (5,000) | (5,000) | |||
| 7,731 | 6,607 | |||
| - | 4,115 | |||
| 495,003 | 487,567 | |||
| 13,005 | 6,816 | |||
| 333 | 88 | |||
| 363 | - | |||
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 |
2024 | 2023 | ||
|---|---|---|---|---|
| Number | Number | |||
| 6 | 7 | |||
| 29 | 25 | |||
| 32 | 31 | |||
15
WORLD HARVEST (UK)
Notes to the Financial Statements For the year ended 31 December 2024
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 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 Landour Community Hospital Medical New Life Masih Ghar Missions Shineland School Education Sugandh Development Thana Trust Medical Gifts/grants to individuals |
Unrestricted Funds 2024 £ Restricted Funds 2024 £ - - - - - - - - - - - - - - - - - - - - - - - - - - 150 - - - - - - - 150 0 7,150 - 7,300 0 |
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 |
|||
|---|---|---|---|---|---|
| Total | |||||
| 2024 | |||||
| £ | |||||
| - | |||||
| - | |||||
| - | |||||
| - | |||||
| - | |||||
| - | |||||
| - | |||||
| - | |||||
| - | |||||
| - | |||||
| - | |||||
| - | |||||
| - | |||||
| 150 | |||||
| - | |||||
| - | |||||
| - | |||||
| 150 7,150 |
50,629 11,700 |
||||
| 150 | |||||
| 7,150 | |||||
| 7,300 | 62,329 | ||||
| 7,300 | |||||
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 2024 £ Restricted Funds 2024 £ Operating lease rentals 56,375 - |
Total 2023 £ 55,250 |
|||
|---|---|---|---|---|
| Total | ||||
| 2024 | ||||
| £ | ||||
| 56,375 | ||||
16
WORLD HARVEST (UK)
Notes to the Financial Statements For the year ended 31 December 2024
5. Tangible Fixed Assets
| Cost At 1 January 2024 Additions Disposals Transfers to fixed asset investments At 31 December 2024 Depreciation At 1 January 2024 Charge For Year Disposals At 31 December 2024 Net Book Value At 31 December 2024 At 31 December 2023 |
Freehold land & buildings: Charity £ 375,000 - - - |
|---|---|
| 375,000 | |
| - - - |
|
| 0 | |
| 375,000 | |
| 375,000 |
Following a review in 2023, 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 |
2024 | 2023 £ - - - 900,000 |
||
|---|---|---|---|---|
| £ | ||||
| 900,000 | ||||
| - | ||||
| - | ||||
| - | ||||
| 900,000 | ||||
| 900,000 | ||||
The following are the investment properties:
| Address | Configuration | 31 December 2024 |
|---|---|---|
| 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 investment properties are held at cost, based on their original purchase price. No revaluation has been undertaken at the balance sheet date.
17
WORLD HARVEST (UK)
Notes to the Financial Statements For the year ended 31 December 2024
7. Debtors
| Gift Aid Receivable Other Debtors 8. Creditors - Amounts Falling Due Within One Year Accruals Trade creditors Other creditors including tax and social security Loan |
2024 | |
|---|---|---|
| £ | ||
| 1,960 | ||
| 6451 | ||
| 8,411 | ||
| 2024 | ||
| £ | ||
| - | ||
| - | ||
| 55,140 | ||
| 55,140 | ||
Loan terms: repayment by 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) | 2024 | 2023 £ 337,719 |
||
| £ | ||||
| 303,724 | ||||
10. Restricted Funds
| 10a Current year Missions - individuals Missions - apprenticeships |
At 1 January 2024 £ |
Income £ Expenditure £ Transfers £ |
Income £ Expenditure £ Transfers £ |
Income £ Expenditure £ Transfers £ |
Gains/ (losses) £ |
At 31 | At 31 | ||
|---|---|---|---|---|---|---|---|---|---|
| December | |||||||||
| 2024 | |||||||||
| £ | |||||||||
| 89,961 | 184,621 | (187,932) | (5,128) | - | 81,522 | ||||
| 8,264 | 2,876 | (184) | - | - | 10,956 | ||||
| 98,225 | 187,497 | (188,116) | (5,128) | 0 | |||||
| 92,478 | |||||||||
The transfer of £5,128 from restricted Missions – individuals fund to unrestricted funds is in recognition of administration costs in relation to managing individual donations.
18
WORLD HARVEST (UK)
Notes to the Financial Statements
For the year ended 31 December 2024
10. Restricted Funds (continued)
| 10b 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 | |||||||||
| £ | |||||||||
| 102,047 | 192,988 | (203,074) | (2,000) | - | 89,961 | ||||
| 7,389 | 1,819 | (944) | - | - | 8,264 | ||||
| 0 109,436 |
- 194,807 |
- (204,018) |
- (2,000) |
- 0 |
0 | ||||
| 98,225 | |||||||||
The transfer £2,000 from Missions – individuals to unrestricted for the rental cost for accommodation provided by the Charity.
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 expenditure 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 2024 £ (88,226) 31,211 (29,713) (227) (5,451) (92,406) |
Restricted Funds 2024 £ (5,747) - - - - (5,747) |
Total 2023 £ (40,420) 30,602 (26,884) 11,821 3,515 (21,366 |
) |
|
|---|---|---|---|---|---|
| Total | |||||
| 2024 | |||||
| £ | |||||
| (93,973) | |||||
| 31,211 | |||||
| (29,713) | |||||
| (227) | |||||
| (5,451) | |||||
| (98,153) | |||||
19
WORLD HARVEST (UK)
Notes to the Financial Statements
For the year ended 31 December 2024
12. Analysis of Changes in Net Debt
| 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 2024 £ 235,972 (45,073) (337,719) (382,792) (146,820) |
Cash flows £ Other non- cash changes £ (123,579) - (10,067) - 33,995 - 44,062 0 (79,517) 0 |
At 31 | ||||
| December | |||||||
| 2024 | |||||||
| £ | |||||||
| 112,393 | |||||||
| (55,140) | |||||||
| (303,724) | |||||||
| (358,864) | |||||||
| (246,471) | |||||||
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 |
2024 | 2023 £ 40,788 100,764 141,552 |
||
|---|---|---|---|---|
| £ | ||||
| 40,788 | ||||
| 59,976 | ||||
| 100,764 | ||||
14. Related Party Transactions
The son of Robert Heppe, a Trustee, has a restricted funds account in his name. During the year the charity received restricted funds in his name of £1,379 (2023: £ 1,937). At 31 December the account showed a credit in his name of £749 (2023: £20).
The Trustees gave a total of £3,961 (2023: £nil) in unrestricted offerings and donations during the year.
20