REGISTERED COMPANY NUMBER: 03590949 (England and Wales) REGISTERED CHARITY NUMBER: 1074480 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 LIGHT ON THE MOUNT 111 ¢A6YaSU82• A14 17. c(PANeS HSE Watts Gregtxy LLP Chartered Actountants E*d House Oak Tree Court Carthff Gate Business Pa CARDIFF County ol Catdiff CF23 8RS
LIGHT ON THE MOUNT CONTENTS OF THE FINANCIAL STATEMEP4TS FOR THE YEAR ENDED 31 MAY 2022 Page Report •fthe Tntste•$ Independent Examinerfs Report Stat•ment of Financial Aclivities Balan¢¢ Sheet N<)tes to Ihe Financial Statements 7 10 14
UGHT ON THE MOUNT REPORT OF THE TRUSTEES FOR THE YEAR ENOEO 31 MAY 2022 The twslees, who are also d1clO of thè (arity for the purpose5 of the C¢xhpaniÈs Ad 2006. present lh report wth the financial statements of the charity for the year erKled 31 May 2022. The trustees have adopted the provisions ol Accounting and Rewrting by Chaibtses". Statement ol Recornnded Practice appli(xble to charrts pparing their accounts in accx)rdance with the Financial Rep¢Mt"ThJ Standard applKable in Ihe UK and Repvblic of Ireland IFRS 1021 {efttctive 1 January 20191_ OBJECTIVES AND ACTMTIES Obje¢tive$ and aims Th8 charity's obj'ecl and principal activity ctwbnu8S to l)e the advancenwt of the Christk?n failh with partiCLdar emphasi$ on the prowsion of literaknre and other forn of o)mmunication. Th5 gbiecl 15 mel thrgh the operats'on ol Chrisban bookshops trading under the name BOOKS Plus in the c(mcourse of hospitals. Th8 charity is organised 50 that th• trustgQS meet iegularfy lo manag• its affair5. AJI staft a ernployed direcl ¢haritatAe tivib85. Public benerrt The tru51ees ean confiwm thal they have compl'ed the t11ty in Sec1 17 of the Charities Ad 2011 to have duè regard to public benefit gu¢dance published by Ihe Commissi. &wikani Ihat undertook duriThJ Iht period that demonstrate public benefit are sel out beh. Activitie$ The charity operates through a b(M)ksfv)p known as BOOKS Plus Cardiff. kxated at the UniveT3ity Hospiial of Wales. Cardiff and Igh ils Whty ovmed subsKlr41ies in GkyJcest•r arld {previouslyl NoThith. The perfomance al BOOKS Plvs Cardiff has (>)ntinued to meel the tharilvs objective of tnhaTrcing thè caring eftvirontnent of the UniveIty Hospital Ihrough Ihe lsK)n of ctian lrteraiure atyl ielated g¢YS. During the period of this 1 June 2021 to 31 May 2022. BOOKS Plus Cardiff finalty receNed the na¢esswy cons•nt from its landkyd to fvopen and comrrEnc• frading in Unit 8 on 16 November 2021. Openirg during November enabled shop to dèrive some benefit the 2021 Christrnas Irading seascm and 5fft the many customers grateful and encouraged by our pSenCe at the UnNersity Hosptsl of Wales. Ouring the first half 012022 loottall adivty With the ho4Xtal relail CLJrthurse o)nts"nl to be impacted ty Covid-19 Testriction5, particularfy for ward visibng. Tradrng during Ihis period averaged at abwt of pre-LxMd levels. Covid- adjusted initial nI levels, CL%nkn"ned wilh the 9enerosity of friends and thutches throLwJhout the year meant the lower than normal trading irKome was sustsinable in Ihe short tem). The wholly owned subsidiary, BOOKS Plus Glou¢e5tef Ltd has traded successfulty durin9 the year. Staff al Gloucester have worked hard to run an effective operats'on. wth Ihe slyth contsnuin9 to trade more profitabty than in Cardrfl because of more normal footlall levels. lower rents and othèr chwges. BOOKS Plus Norwlch Ltd cemains dcmant. Mth tilS to rec(¥1 at some stage in Ihe ftjture either in NoThich or at a hospltal in Ihat part of the courbtry. FINANCIAL REVIEW Res¢rves policy Tha results for the year are swnmarised in the Statement of ktivities. Al 31 May 2022 the d)arity is roporting net assets and unresirthd reserves amounting lo £41.184. Suff¢o&nt reservos are hekl to supFyt the eonlinuatth of ihe in th8 shryt-¢erm a5 a number of iThJiwduals and churches have supported the work during this year. Fundraising latiThj io the prow5ion of the renewéd and refitted shop in Cardtff wmmenced during 2022 after BOOKS Plus Cardiff reopened in Unrt 8 and will conb.nue in subsequtrnt yèars. IncaS1ng support for the ¥Ik remains a priority for the fulurtr of charity new ac11vitr being considered, patticukily while the firtan(ial dimate remains some*that dthojlt. Rèserves A helj to ensurtr the charity is well to rreet fLrture demawts on ts sourCes. trustees conside¥ the level ol reseryes lo be adequale. Page 1
LIGHT ON THE MOUNT REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 MAY 2022 FUTURE PLANS The wholly owned charitable subsKliary BOOKS Plus Cardiff Llmited was regi8tered in 2020 in order to separata out the operation ol running the BOOKS Plus Cardlff shop into a separate trading entity, as was done for BOOKS Plus Gloucester and BOOKS Plus NonAfi¢h in 2005. The onset of the Cov¥J-19 Pandernic and the consequent delay in moving BOOKS Plu5 Cardifi to Unil 8 has meanl that BOOKS Plus Cardiff Limited w1 not formally comrnence trading lak over the 0ratIOn of BOOKS Plus Cardiff uth"l the beginning of Ihe ne financial year. 1 June 2022. This wll free up Light an the Mount to fl)1$ on acb"vib"•5 pPOrt[r9 Ihe swoup of subsidiwies. The trustees expect to maintain actsvity at the Unwersrty tiSta of Wales BOOKS Plus Cardiff in Urmt 8 of hospital's main entrancè and u>nwuts8. The ability to rjemonstrate both in Cardrff aftd GrouSter that the tra(lirrfJ rnodel is Sustainable, remarns a key element ol the charity's strategy. The charity is therefore exrying workn.ng ¢bsety ¥wth key supports.ng churches to establrsh BOOKS Plus satellite outjets and provision itM from thè BOOKS Plus Cardiff shop. It anticipated that fve such satellite oUtts can be established in the first phase. The charity wll Ihen COnser ether a sinilar approach could be followed by the BOOKS Plus Gloucester shop. The trustees are continuing to •xWore. wth key supporters. ways to expand Ihts work into hospitals in S(yJlh Wales, thè wesl of EnglaThO arKI 8Esewhere within the UK. The polential lor a BOOKS Plus project being established at a healthca location in Pembrokeshire remains a laalis p0SbilIty. The impact ol Covid-19 ddayed ptogress dng 2021 and 2022 but the steering group yrkIng on this Kwe(a has rep>nmerKed its m8etirKJs. SUCCESSION PLANNING The tn15tees seek to mainlain a balance of exwbse on btsard of the drity. The primary method used to recruit and appoint new trustees is via per%)nal networks of indivrduals F)gtNely disposed to and in agreement wilh the aims and objectives of the charity and its 5Lknsidiaries. Indiwduals wlh Ihe requi expertise are approached and given sufficient time to proce55 the inwtaticm and speak wth ex$tirwJ trustees. STRUCTURE. GOVERNANCE AND MANAGEMENT Governit)g document Light on the Mount is a comparry IKnited by gu8rantse aNJa wistered tharity. Tr charity is contfolled byitsM8morandum and ArtiG$ of AssLKiab"on. Recruitment and appointment of new trustees The formal method ofappointing trustees is contaKd the consth"bJlion ofthe charity. New Inrstees are appointed by fomial re501ution of existing trustees. Ngw IrLtst8es are tralfi by olher trustèes the cthariws management staff to become familiar wlh Ihe tharity's objectives, constitut)n, MnOranda and artidesofwwralv)n. th8irW duties as Iruslees. business. fxwnce and other r8lat8<1 operabonal matters. REFERENCE ANO AOMINISTRATIVE DETAILS Registered Cornpany number 03590949 {En9land and Wales} R•giSt•r•d Charlty number 1074480 Registered office 7b Highfidd Road Cardiff South Glamorgan CF14 3RE Trustees C J Graves A S Dubljevic I P Donald Chair Company Steretary A S Dubljevtc Page 2
UGHTONTHE MOUMr REPORT OF TrE TRUSTEES FOR THE YEAR ENDED 31 MAY 2022 REFERENCE AND ADf•TINISTRAmVE DEfAtLS Indèpendent Examiner Watts Gregory LLP Chartered Accountants Elfed House Oak Tree Court Car(liff Gate Bus(ness Pa CAROIFF County of Carthff CF23 8RS Banke CAF Bank 25 Kings Hill Ave "ngs Hill West Mafn9 Kent ME194JQ Santander UK FIC 8tle erseysid GIR OAA This report has been prepared in axuda wilh the sp8aal provts$ of Part 15 01 Cornpan Act relatirg to small companw. Approved ty Ofdef of ts Boa ofTn&%*es on aTrJ swed on its behall by.. C J Graves- Tnjstee P3
INDEPENDENT EXAMINEifs REPORT TO THE TRUSTEES OF LIGHT ON THE MOUNT Indepondent examinerfs report to th¢ trustees of Li9ht On The Mount Phe Company.) I report to the charity trustees on my examinats.on of th¢ aGcounts ofthe Company for the yeai endod 31 May 2022. Responsibilitie5 and basis ol r•port As the charitys trustees ol the Company laftd aL80 its directors lor Ihe purposes ol cOmpY lawl you are responsible for the preparation of the aco)unts in ac£Ordan th the requirements of Ihe CThe$ Act 20 Cth• kv). Having satisfre¢J myselfthat the acctyjnts ol the CcpanY are not réqui to b? audrtad under Part 16 of the 2006 Act and are eligible for independent examinab"on. l respect of my txaminatw)n of your chanty's acixjunts as carried out under Section 145 of the Charities Act 2011 Ilhe 2011 N£VI. In carrwng out my exarMation I have follo%%d the Dirèctions given by the Chèrity CommissKJn undef Seclxjn 145151 Ibl of thè 2011 Independent examinerfs statement I havè completed my examin8tion. I c1M Ihat Tr) matter5 have Cr lo my attention in connectm with the examinatK)n givlng me cause to believ4: accounbng records were not kept In resped of the Ccw as required by Seciion 386 ofthe 2006 Ad., or th6 accounts do not accord wilh those reawds,. or the accounts do not comply wilh the acC(lts¥¥j requirements of Se¢ts"¢)n 396 ol th8 2LNJ6 Act other than any requirement that the ac¢wnls give a fwe and fair view whh is not a matter considered as part of an independent examination., or accounts have not ppart in acct>rd8ncè with th• melhods yinthplts of the Statement of Recnmmended Praclice for accountsng and pOrtO by charibes laWKae lo charikn.es preparsn9 their accounts in accOrdare with the FThnual Standard ¥Wicable UK and Republic of Iland IFRS 10211. I have no concems and have crnie across no other mallets in connecl*)n wrth the eXaMinatn to which attention should drawn in this report in (ydèr to en3ts a woper underslandin9 oflhe accwnts to be reached. Julkq Morfirner FCCA Watts Gregory LLP Chartered Accountants Elled Hous¢ Oak Tree Court Cardiff Gate Business Park CARDIFF County ol Cardrfr CF23 8RS Date.. 23 February 2023 Page 4
LIGHT ON THE MOUNT STATEMENT OF FINANCIAL ACTNMES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2022 2022 unstrICted funds 2021 Total funds Note5 INCOME AND ENDOWMENTS FROM Donations and lègacTes 36,221 20,589 Charitable adiviti85 Sale of Christian l¢teraiure 60.623 13.929 Investment irKome Other income 3,0 Total 96,844 37.526 EXPENDITURE ON Charitable activities Sale of Christsan literaivre 94.743 60,261 NET INCOMEIIEXPENDITURE) 2.101 122,7351 RECONCILIATION OF FiINDS Total funds brou9ht forward 39,083 61,818 TOTAL FUNDS CARRIED FORWARD 41,184 39,083 Thè notes fc*m part of finantial statements Page 5
LIGHT ON THE MOUNT BALANCE SHEET 31 MAY 2022 2022 nstricted nts 2021 Total lund$ FIXED ASSETS Tangiblè assets Investnts 13 14 91,109 13 95,769 13 91,122 95,782 CURRENT ASSETS StrKks Debtors Cash at bank and in haThJ 15 16 42,574 43.621 7.203 18.49) 66,224 68,489 ¢REOITORS Amounts fallin9 due wlthn sJnE y 17 1116.162} 1125,188) NeT CURRENT LIABILITIES 49.938 TOTAL AsseTS LESS CURRENF LIABILMES 41.184 39.083 NET ASSETS 41.184 39.083 FUNDS Unrestrid&J fvn¢ts 19 41.184 39.083 TOTAL FUNDS 41,184 39.083 The ch8rtabk crxnwy is errtilie(I to exewrytron frryn wJil )er 477 of the Ccfflparigs Ad 2006 fci Ihe year ended 31 May 2022. The MberS haTrrt not required thecrynpany to cl)lain an authiolits finanoal ststeMts forthe yeareDd&J 31 May 2022 in accorda knith Seckn 476 ofthe Companw A¢1 2CTh. The trLSte8s ackn0hed9e thwr respcnsilths for lal ensuring Ihat the charitabk o)mpany ke &oJJnb"TrJ r¥J¢ts that oJmFty ilh Seth'ons 386 ard 387 01 t Companies Act 2C(6 and eparing finanrjal statements gr%E a tru8 and fair ol ts state ol affair5 01 the dwritable conwany as at Ihe enol of eath finanrial year and of its sufFlus or defvt for each finartial year in accordan with Ihe ir8rnants SectK)ns 394 and 395 3j olherwtse comth wrth raquirèments of tl Companies 26 rElaTry lo finana?I statesnents, so faras aotsbte to th8 tharitab CL¥np8ny. Ibl These financial 5taiernent5 have been prep3red li &corda)ce vmh the woMs1(S aFoltsbk to charitth o)mpanie5 sub.iect to tha Sm1 compani•s wime. The fifianfi?l statements We approved bythe Board olTn6teeSandau"sj for on 214Ftb a1 were shjned on ts behaff by.. C J Graves- TnJste• notes fomi part crftrse fmanoal slements Pagp 6
LIGHT ON THE MOUMT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 STATUTORY INFORMAnoN Light on Ihe Mount is a registèrÈd charity and prNatè (Mrpany 1in41ed by guarantee having no share capilal. 11 is inccwpofated in Wales in the United Kirwjdom. The gIStered office is 7b Highfield Road, Heath. Cwdiff, CF14 3RE. The nature of the charitabje ¢•pany$ operatIS prin0 acbvitw are disclosed wlhin the Report of the Trustees. The finantsal statements ar• presented n Sterjirg {£1. Ihg charilatk cornpany'$ fundignal oJrrerKy. and rtyjnded to the nearest pound. The signffiGgnt accounting polic applted in the prePara1n ofthese financial stalements are Set (xrtbelow. Thtse polioes have been consistenuy app.ed to all years present otherwse stated. ACCOUNTWG POLICIES Basis of preparing the financial staiernents The financral statements ol the tharitable Company. vthi¢h is a puwic bonefrt énts.ty under FRS 102. have been prepared in auordance with Ihe Chanb"•s SORP IFRS 1021'AccounliNJ and R8p)rting by Charities." Statement ol Recommended Pracb"ce applicable to charilres pfeparing theic atcounts in accordance wrth the Finanaal ReporDng Standard applicable in the UK and RepublK of I[nd {FRS 1021 leffeclive 1 January 20191,, Finanraal Reporting standard 'The Financial Reporting StaTrJard apable in the UK Republic of Irdand. and Cryanies Act 2006. The fina9a1 stattrments have been weparnd urthi the htstorical cost conventi. Thefe have been no matèrial departures from Finanoal Rep(xb'n9 St8ThJard 102. Going concern A5 at 31 May 2022. the rnPanY h85 rerxyted net curtent liabililie5 of £49,938 and net assets £41,184. However. indudedwilhincredito¥s.' anKrtJntslallirKJ dLvthhin OneyèararetrIee loanstolalhng £101.00012021.' £112,000). The trustees a satisfied that despte th• Corcmavirus pandemic, rt ts apkyopriate for the charitable companys financial statements to be prepared on a 9¢iThJ crcern ba515. The trustees have taken reasonable steps to minimise the ellecton the charitae company aThl continue to dts so. In the UfCUTnstanw Ihey have Col1ed that no adjustments or additial are required to Ihe financial state[ts at Ihis time. Incom¢ All incorne 15 recognised in Ihe Staterrt of Finanual Activitk once Ihe thlty has enlthment to ths funds, it Os obable that the incomè V¢ill be f1ve0 and the amtyjnt can be measured reliaNy. Donation5 and l•gaaes into 4ndude5 donalitin5 and grfts that provid• ¢or8 fundirwJ or are of a g•neral nature and are rècognised wherè there is entstMen[ probablty offfjcpt and the anKMJnt can bemeasuredwith sufficient reliabilty. Such inccm• is onty dèfèrred wh•n the donor specifies it rwst be used in fvAlU aCrUnting periods or the donor has imposed conditK)ns whth must be met before Ihe tharity has unttsndrticfial entitlement. In¢ome from charrtabltr ¥bVit5 IlKJIe$ w)n)e recèived from Bottkp sd$s. This income is recogAised at the kxmnt ol sale. Invèstment Incor is recognised on a recetvat4e bags. 11 1$ not th$ pdicy of the ¢hity to show in¢x)rMg net of •xpeThJiknre. Expenditure Liabililies are recognised as expenditure as socfft as rh is a legal orconstructivè obligalK)n cornm1ttg the charity to that tsxpendibjre, it probatAe that a transfer of econom banfits will be requlred in setllernent and the amount of the obligatson ran bè measuréd feliabty. Expendibjre is accthinted for on an ac£ruals basis and has been classified under headings that aggregate all cost lat to the category_ Where wsts cannot be direclly athibuted to partE¢ular hèading5 they have been alCted to acb¥it on a basis nsIstenI iih the use of resourrEs. Chatable 8xpenditure comwises Ihtsse costs inCAJTred by Ihè chanty in Ihe delNery of rts acb"vities and Semces for its benefficiaiies. It indudes both costs Ihat can be alk)caled eIlY to suth actit aThJ Ihose costs of an indirect nature necessary io supwrt them. Page 7 ctinued...
LIGHT ON THE MOUNT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022 ACCOUNTING POUCIES - continued Expenditure Support costs are ttsxe o)sts that. wmst neSSary to ddiveran 8clivty. do not themselve5 produce or constitute the outrAJt ofthe charitsble acbvty. This irdudes govemm costs thch a ttKJse costs assoctaled wth meeting the constitutional aTMJ slalulory requirernents of Ihe charity. Tanglble fixed assets Fixed assets are inthally rèrAvded at Ixist. Depreaation is pwded at th• fo11cvn9 an81 rntes in ordèr to ¥ffite off &ieh asset over its us•fvl economic life. Leasèhokl inprtsvements Fix1V$. fitts"rwJs anLI equipment The shorterof 10% orover the main1rj term of Ihe lease 4- 10 yeats strawht line Fixed asset investments Fixed asset investments ar• recorded at o)st W any WO5) requwed for d¥ninution in valu•. stocks Stock5 ar• valued èt the lowef of cost and nel reali5abl8 val, atsr makiw¥J zlbw3rKe lor obsolete and slow momng items using the FIFO slck valuabM m•lhod. Taxation The ¢harity is expt from corpyaton tax its dnIable ackntses. Financial instruments Thè tharity only ha5 financb?l assets anil ffinancaal liatmlities of a nd that qualfy 85 basic [inar187 instwments. 8asic finartial instruments a indially recogntsed at Irawcbon value and subsequenly measured at their setuemenl Va. Tra¢Je debt0 and other debtots are lISd at the setuement aTh)unt due and prepayments are valued at the amount prepaKI. Creditors are rew9nised vthere the charity has a present obligation rè5}ng from a past event that11 PTobab resull in Ihe transler of fund5 to a thild party and the amount ¢Je to settle the 019atIOn can be measureij or estimaied reliabty. Creditors a at their settlemenl arnount after allm%ing lor any lrtde discounts due. Fund ae¢ounting unstrICted fund5 can be ttsed in acc(Ydw rylh Ihe taritable objectives at Ihe discxetion of the trustees. Restricted lunds can only used lor partlr restricted ose5 wthhin the obj.ects of Ihe charity. Restrictions arise when specified by the donor or when funds a raised for pafb"cular $Tr¢Ied purposes. Furth& explanation of the naiwe and wrFx)se of eath fthj 15 itssuded in Ihe notes to the financial stalements. Hire purchase and leasin9 commitments Rentals paid tjrthr operating leases a charged to the Sla18rnent of FinarKi31 A¢ti¥iti8s on o slr4hl line basis over the period of the leasè. Pension costs and other postryretirement benefits The charitable company operates a defined contribulion pensN)n scheme. ContrrtMJtions payable to the charitable Comparfs pension stheme are charged to Ihe Statemenl ol FInanU Acbvities in the period to whith they relate. Page 8 Continued...
LIGHT ON THE MOUNT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MAY 2022 OONATIONS AND LEGACIES 2022 2021 Gifts and donations Gfft aid Grants 12,698 10.208 13.315 3.272 17,317 36.221 20.589 Grants received. mduded IA the abtsv•. are 05 folows". 2022 2021 Cardiff County Council - Small lyJwe5s grant Job Relentson Scheme DWP- Kickstsrt Scheme 5.orAI 12.317 5.727 3,588 13,315 17,317 INVESTMENT INCOME 2022 2021 TradiThJ sub5Kliary donab'on 3,000 INCOME FROM CHARITABLE ACTivmES 2022 2021 Book¥hop $e$ 60.623 13.929 CHARITABLE ACTIVITIES COSTS Direct Costs (see noie 71 Support costs (see note 6} Totals Sale of Chn"skn"an literature 73.$13 94,743 DIRECT COSTS OF CHARABLE ACTIVITIES 2022 2021 Stafl o)sts Renl Seryice charges Cost of bookshop sales 37.670 1897} {3,994} 40,734 33.147 1,166 9,913 73.513 44,226 Page 9 continued...
LIGHT ON THE MOUNT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAY 2022 SUPPORT COSTS Govèmanc• costs Finance Totals Sale ol Christi) lit•ralure 712 13,694 6.824 21,230 Included within suPrt cosls arè fees p3yabk to the mdepident examiner of £1.25012021.. £1,250). TRUSTEES. REMUNERATION AND BENEFITS There werè trustees. remvneraiion or be for Ihè year ended 31 IAay 2022 OT for the yr erthd 31 May 2021. TNstee5' expenses There were no trustees. experws for th¢ year erKl&J 31 May 2022 or forthe year erwled 31 May 2021. 10. STAFF COSTS 2022 2021 Wages and salaries Other pension costs 36,199 1,471 32,182 37,670 33,147 The average nthlNy nLfftber of •moYeeS Ihe yew was as folk.. 2022 2021 Average employees No employees received emolurnents in ¢x¢ess of £60.LYXI. 11. COMPARATIVES FOR THE STATEMEPU OF FINANCIAL ACTIVITIES AJI ie and expeThJiiure in the yeaf ended 31 May 2021 VAS ltrIcted. Pagè 10 tinu8d...
LIGHT ON THE IqOU14T NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MAY 2022 12. TANGIBLE FIXED ASSETS Fixt(tres. Leasehold fittiro5 Irrovements & equiprnent Toials COST At 1 June 2021 Additn3 89.723 9.159 1,124 98,882 1.124 At 31 May 2022 10,283 100.C¥J6 DEPRECIATION At 1 Junè 2021 Charge fof year 3.113 3,113 5,784 4.941 At 31 May 2022 4.941 3,956 8.897 NET BOOK VALUE At 31 IAay 2022 84.782 6.327 91.109 At 31 May 2021 89.723 6,046 95.769 13. FIXED ASSET IPIVESTMENTS Shares in group t4)dertakin95 COST A¢ l June 2021 aThJ 31 May 2022 13 NET BOOK VALUE At 31 May 2022 13 At 31 May 2021 13 There We no invesknenl assets Ade Ihe UIQ The companys investments at Ihe bafance sheel date in the share capital ofcompanies irK4udè tha folowing: Books Plus Glou¢+$ter Limit•d Nalure of business". Bookshop Class of share: Ordsnary sharès hot(ling 1fKJ 2022 2021 Aggregate capital and reser¥es (Lossyprofit for the year 55.074 7,454 62,528 1.420 Book5 Plu$ Cardiff Limlt•d Nature of businw3s.' Domanl company Class of share.. Ordinary shares holding 1LYJ Page11 contsnued...
LIGHT ON THE IILOUNT NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31 MAY 2022 13. FIXED ASSEf INVESTMENTS - eontinued Books Plus Norwi¢h Limitsd Naiure of business.. Dormant company Class of share.. Ordinary shares hokSng 1CKJ 14. STOCKS 2022 2021 Stocks 42,574 43.621 15. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Other debtors VAT Prepayments aThY accryed iAYne 2.097 1.639 1.424 1,857 2.157 3,1B9 5.160 7.203 16. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2022 2021 Traije creditor5 Social security and other tax Other creditors Accruals and deferred income 9,865 1,008 101.639 3,650 5,055 607 112,469 7.057 116.162 125,188 17. SECURED DEBTS The follwng Sèrel d$bt$ we induded ilhin tr•JitcKs: 2022 2021 Oth•r b)8n 94.OCI) The above loan is secured by vmy ol a red and 1Joalry over the assèts of Ihe Lpany. 18. MOVEMENT IN FUNDS movement in funds At 3115122 At 116r21 Unreslri¢ted funds General fund Deggnaied fuThJ- new branches 33,769 5,314 2.101 35.870 5.314 39.083 2.101 41,184 TOTAL FUNDS 39,083 2.101 41.184 Page 12 ¢ontinue(J...
LIGHT ON THE MOUNT NOTES TO THE FINANCIAL STATEMENTS- eonlinu•d FOR THE YEAR ENDED 31 MAY 2022 18. MOVEMENT IN FUNDS - continu•d Nel movement ftjnds. indLNJed in the above we as I1%.. Incomi res(yJrces Resources expended Movement in funds Unrestrf¢ted lunds Gener81 ftjnd 194.743} 2,101 TOTAL FUNDS 2.101 Comparativo$ br movement in funds Net movement in funds At 3115121 At 116r20 Unrestricted funds General fun Designated fu1 - w ncheS (22,7351 33.769 5,314 5.314 61.818 22,735 39.083 TOTAL FUNDS 61,818 22.7351 39.083 Comparative net rnov•rnent Tn luTrJs. ¥)thded in the ats(y as foUow5: Incomwyj Reswrces expended Movernent in fvnd5 Unr85tr4Cted funrf5 General fund 37.526 160.2611 122,7351 TOTAL FUNDS 37.526 22,7351 Designated fvnds N w branches lund New bran¢he5 fuTrJ. funds are n9 set wde to Ihe tharity to open new branches in the frrture. 19. EMPLOYEE BENEFIT OBLIGATIONS During thè year ended 31 May 2022th& chairty made conlribub.ons toialh.ng £1,47112021." £1.270ltots •ftWoyee's pansion plan. As at 31 May 2022 there weie conin"bJlKns outstsThJirvJ of £626 {2021." £456}. Page 13 continued...
UGHT ON THE MOUTr NOTES TO THE FINANCIAL STATEMEMTS- continu•d FOR THE YEAR ENDED 31 MAY 2022 20. RELATED PARTY DISCLOSURES During the year, aggregate donations of £10.000 (2021.. £Nill were received from trustees. At 31 Nlay 2022. irKluded within clt0[$.. Amounts faming due within one year is a total of £101.000 P021 £112,000) due to trustees. During the financ1 year, the movement m Ihe loans related to £1.000 being repaKI to a trustee and £10.fA)O being o)nverted into dOrtiOnS. No interest has been dBrged these roans. Page 14