## **ANGOLAN LITERATURE FUND**
## **ANNUAL REPORT**
## **AND**
## **ACCOUNTS**
## **FOR THE YEAR ENDED**
## **31 DECEMBER 2021**
**CHARITY NUMBER: 1077591**
## **ANGOLAN LITERATURE FUND**
## **TRUSTEES’ REPORT**
## **For the year ended 31 December 2021**
## **References & Administrative Details**
Trustees:
Michael Buckeridge (Treasurer), Richard Burditt, Jonathan Docksey, John Fenn, Brian Howden, Victor Michael (Chair), David Montgomery (Secretary).
Principal Address: 3 Neals Crescent, Grantham, Lincs, NG31 7GD
Bankers: Natwest Bank plc, CAF Bank Ltd
## **Structure, Governance and Management**
The Angolan Literature Fund was established by Trust Deed on 30 September 1998 and is administered by a body of Trustees whose names are set out above. The Trustees meet twice yearly, to consider how the Fund can fulfil its purpose. At other times the Trustees are in communication with each other regarding needs, developments etc.
The Trustees are aware of the need for new Trustees and will arrange for others to join them as and when necessary. All new Trustees are fully informed about the purpose of the Fund, finances, and opportunities available to help meet the great spiritual and practical needs in Angola.
The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Objectives and Activities**
Under its Trust Deed, the purpose of the Angolan Literature Fund is “to further the spread of the Gospel of Jesus Christ amongst the people of Angola and such other charitable objects as the Trustees may from time to time select.” Through the financial support it receives, the Fund is able to send to Angola Bibles, hymnbooks and other Christian literature as well as paper and consumables for literature production within Angola.
## **Achievements, Performance and Future Plans**
A good amount of literature has been purchased for / delivered to Angola during the year including 2,000 hymnbooks, 14,000 Portuguese Bibles, 3,700 commentaries and other Bible study books and 500,000 tracts.
For free distribution, 50,000 calendars in the Portuguese, Chokwe, Luvale, Songo and Umbundu languages were delivered. The Trustees thank the Trinitarian Bible Society for the free provision of numerous portions of the Scriptures in the Portuguese language.
Two new projects have been supported this year. First, over 800 reading glasses were sent to begin meeting the need that many have of struggling to read literature. Second, help has been given to Christians in the Bie and Lunda Sul provinces to enable regular radio broadcasts in Portuguese, Chokwe, and Umbundu.
Page 1
The book rooms have recovered well from COVID with sales of literature reaching £50,000 for the first time. This money is able to be ploughed back into the Fund and was the biggest contributor to funds this year.
The Trustees are very grateful to the Ramsey family for the provision of storage facilities and to Medical Missionary News for their continued assistance with the transportation of supplies and other support.
With such ongoing demand for the Scriptures and Bible study aids the Trustees will seek to meet these needs with the resources provided by the Lord.
The Trustees are aware of the guidance of the Charity Commission on Public Benefit and have acted accordingly. The many expressions of appreciation from Christians and others in Angola are evident witness to the benefits, spiritual and otherwise, of the work and support of the Fund.
## **Financial Review and Policies**
The Trustees are pleased again to place on record, the faithfulness of the Lord in providing all funds received. All income received was from the Lord’s people, Christian Trusts, charities and sale of literature.
As the primary function of the Trust is to provide Bibles and other literature, stock will remain consistently high as we look to provide an ongoing supply. This year, a large supply of Portuguese Bibles were again ordered and we expect them to arrive in Angola during 2022. Some funds are held due to an expected Chokwe Bible print run sometime in the next 2 years.
The attached Accounts reflect all income received and expenditure incurred. Wherever possible all funds are distributed promptly and are only retained when the Trustees are conscious of other financial needs arising in the foreseeable future. Some funds held are for restricted purposes; other funds are at times designated by the Trustees to help finance projects in hand and other known needs. The funds are held in various bank current and deposit accounts to enable speedy and ready access.
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern as they consider that there are sufficient cash reserves to meet the charity's liabilities as they fall due. Whilst preparing the accounts, Trustees have considered the impact of current pressures on the world economy with special reference to printing and transport costs.
Approved by the Trustees and signed on their behalf by:
## **M BUCKERIDGE**
Page 2
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed 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 incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the Trustees are required to
- select suitable accounting policies and then apply them consistently;
- - observe the methods and principles in the Charity SORP;
- make judgements and 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;
- - 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 keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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.
Approved by the Trustees on 10[th] September 2022
Signed by order of the Trustees
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ANGOLAN LITERATURE FUND**
I report on the accounts of the Trust for the year ended 31 December 2021, which are set out on pages 5 to 13.
## **Responsibilities and basis of report**
As the charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **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:
1. accounting records were not kept in respect of the charity 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.
Y. A. Potjewijd FCA
Typed Signature
29 Orchid Drive Bath BA2 2TS
Date: 14/09/2022
Page 4
## **ANGOLAN LITERATURE FUND STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2021**
|NOTES
**INCOME AND**
**ENDOWMENTS FROM**
Donations
2
Charitable Activities
3
Investments
4
**TOTAL**
**EXPENDITURE ON**
Raising Funds
5
Trading Activities
6
**TOTAL**
**NET INCOME /**
**(EXPENDITURE)**
TRANSFER BETWEEN
FUNDS
7
**NET FUND**
**MOVEMENT**
**RECONCILIATION OF**
**FUNDS**
Total funds brought
forward
8
**Total funds carried**
**forward**|UNRESTRICTED
RESTRICTED
TOTAL
TOTAL
FUNDS
FUNDS
**2021**
2020
£
£
£
£
15,322
4,000
19,322
50,192
52,738
-
52,738
25,943
6
-
6
51|
|---|---|
||**68,066**
**4,000**
**72,066**
**76,186**|
||2,289
-
2,289
974
102,477
4,000
106,477
101,610|
||**104,766**
**4,000**
**108,766**
**102,584**|
||**-36,700**
**-**
**-36,700**
**-26,398**
19,228
-19,228
-
-|
||**-17,472**
**-19,228**
**-36,700**
**-26,398**
141,586
29,228
170,814
197,212|
||**124,114**
**10,000**
**134,114**
**170,814**|
Page 5
## **ANGOLAN LITERATURE FUND BALANCE SHEET**
## **For the year ended 31 December 2021**
|NOTES
**FIXED ASSETS**
Tangible fixed assets
9
**CURRENT ASSETS**
Stocks
10
Prepayments
10a
Debtors
11
Cash at bank and in hand
12
**LIABILITIES**
Creditors falling due within one year
13
**NET CURRENT ASSETS**
**NET ASSETS**
**THE FUNDS OF THE CHARITY**
8
General
Restricted funds
**TOTAL CHARITY FUNDS**|**2021**
2020
£
£
572
2,261
52,855
86,602
34,954
-
3,247
13
46,015
85,438|
|---|---|
||137,071
172,053
3,529
3,500|
||133,542
168,553|
|||
||**134,114**
**170,814**|
||124,114
141,586
10,000
29,228|
||**134,114**
**170,814**|
Approved by the board and signed on their behalf by:
## **M BUCKERIDGE**
Page 6
## **ANGOLAN LITERATURE FUND STATEMENT OF CASH FLOWS**
## **For the year ended 31 December 2021**
|NOTES
**NET CASH USED IN OPERATING ACTIVITIES**
14
**CASH FLOWS FROM INVESTING ACTIVITIES**
Purchase of tangible fixed assets
Interest income
NET CASH PROVIDED BY INVESTING ACTIVITIES
**CASH FLOWS FROM FINANCING ACTIVITES**
Receipt of donations & Legacies
NET CASH PROVIDED BY FINANCING ACTIVITIES
**CHANGE IN CASH AND CASH EQUIVALENT**
CASH AND CASH EQUIVALENT BROUGHT FORWARD
CASH AND CASH EQUIVALENT CARRIED FORWARD|**2021**
2020
£
£
-57,607
-46,816
-1,144
-4,523
6
51|
|---|---|
||-1,138
-4,472
19,322
50,192|
||19,322
50,192
-39,423
-1,096
85,438
86,534|
||46,015
85,438|
Page 7
## **ANGOLAN LITERATURE FUND**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **For the year ended 31 December 2020**
## **1. Accounting Policies**
## **1.1 Basis of preparations**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise state in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019), Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and Charities Act 2011. The Accounts are prepared under the historical convention to include the revaluation of certain assets.
The Charity constitutes a public benefit entity as defined by FRS102. The Charity is regarded as small entity and has therefore taken all necessary exemptions available under FRS 102.
The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern as they consider that there are sufficient cash reserves to meet the Charity's liabilities as they fall due.
In preparing the accounts, the Trustees have considered whether in applying the accounting policies required by FRS102 and the Charities SORP 102 a restatement of comparative items was needed. No necessary adjustments were identified so the prior year's figures have not been restated, other than for presentation, as they are the same under either reporting framework.
## **1.2 Accounting for Receipts and Payments**
Receipts are taken to Income and Expenditure Account in the period in which they are received. Investment income is taken into account only in the period in which it becomes payable. Income tax recoverable is taken into the accounts in the year in which tax is deducted. Expenditure, inclusive of VAT, is included on an accruals basis. Legacies are accounted for when they are received.
## **1.3 Fixed Assets and Depreciation**
Fixed assets are stated as cost less depreciation. Depreciation is provided at the following rate, sufficient to write off the cost less estimated residual value over its expected useful life
Printing equipment – 50% straight line
## **1.4 Stocks**
Stocks are valued at the lower of cost and net realisable value. The Stock valuation takes into account the possible obsolescence risk as well as possible damage. On the basis that some stock is expected to be sold at below cost or given free of charge as part of other items, the realisable value of the stock has been adjusted to take this into account.
Page 8
## **1.5 General Funds**
Unrestricted Funds are available to the Charity for its general purposes.
If funds are Designated they are Unrestricted Funds earmarked by the Trustees for certain projects but which can, at any time, be used for other purposes agreed on by the Trustees.
## **2 Income from Donations**
|Individual Gifts
Trusts
Assembly Gifts
Donated Services
**Total**|Unrestricted
Funds
Restricted
Funds
Total
funds
Total
funds
**2021**
**2021**
**2021**
2020
£
£
£
£
9,447
-
9,447
26,093
1,550
4,000
5,550
19,178
4,325
-
4,325
3,038
1,883|
|---|---|
||**15,322**
**4,000**
**19,322**
**50,192**|
## **3 Charitable activities**
The income from charitable activities represents the proceeds received from books sold and printing work done.
## **4 Investment income**
The investment income received in this and the prior period relate solely to bank interest on cash deposit balances held in the UK.
## **5 Expenditure on raising funds**
|Bank Charges
Travelling expenses
Independent Examination
Printing, Website,
Software
Mailout
Honorarium
**Total**|Unrestricted
Funds
Restricted
Funds
Total
funds
Total
funds
**2021**
**2021**
**2021**
2020
£
£
£
£
161
-
161
443
166
-
166
-
250
-
250
200
514
-
514
230
198
-
198
101
1,000
-
1,000
-|
|---|---|
||**2,289**
**-**
**2,289**
**974**|
Page 9
## **6 Trading activities**
|The Fund is engaged in the printing, distribution and sale|The Fund is engaged in the printing, distribution and sale|of Christian|literature in|Angola.|
|---|---|---|---|---|
||Unrestricted|Restricted|
Total|
Total|
||Funds|Funds|||
||**2021**|**2021**|
**2021**|
2020|
||£|£|
£|
£|
|Supplies and parts|10,404|-|
10,404|
11,010|
|Freight|17,434|-|
17,434|
27,314|
|Monies paid in Angola|17,494|-|
17,494|
11,739|
|Bibles (and other Books)|53,164|-|
53,164|
24,502|
|Calendars|1,000|4,000|
5,000|
5,000|
|Radio / other local work|289|-|
289|
-|
|Depreciation|2,834|-|
2,834|
3,936|
|Equipment / building Costs|1,079|-|
1,079|
288|
|Bad debt write off|-|-|
-|
402|
|Exchange Rate differences|-14|-|
-14|
386|
||103,684|4,000|
107,684|
84,577|
|add: Opening Stocks & Prepayments|86,602|-|
86,602|
103,635|
|deduct: Closing Stocks|-52,855|-|
-52,855|
-86,602|
|deduct: Prepayments|-34,954|-|
-34,954|
-|
|**Total**|**102,477**|**4,000**|
**106,477**|
**101,610**|
## **7 Transfer between funds**
As only £10,000 were ‘restricted’ in the genuine sense – the rest simply designated by the trustees – and funds were required for other projects, the trustees moved all but the £10,000 to unrestricted funds.
## **8 Analysis of charitable funds**
|**Current Year**
Unrestricted
funds
Restricted funds
**Total**
**Prior Year**
Unrestricted
funds
Restricted funds
**Total**|Funds b/f
Income
Expenditure
Transfers
Funds c/f
£
£
£
£
£
141,586
68,066
-104,766
19,228
124,114
29,228
4,000
-4,000
-19,228
10,000|
|---|---|
||**170,814**
**72,066**
**-108,766**
**-**
**134,114**|
||Funds b/f
Income
Expenditure
Transfers
Funds c/f
£
£
£
£
£
177,212
62,958
-98,584
-
141,586
20,000
13,228
-4,000
-
29,228
**197,212**
**76,186**
**-102,584**
**-**
**170,814**|
Page 10
## **9 Tangible Fixed Assets**
|Equipment
Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net Book value
At 31 December 2020
**At 31 December 2021**
**10 Stock**
Chokwe Bibles
Other Christian literature
Portuguese Bibles
**Total**
**10a Prepayments**
Other Literature
Portuguese Bibles
**Total**
**11 Debtors**
Trade debtors
Gift Aid
Other sundry debtors
**Total**|**Total**
£
41,919
1,144
43,063
Total
£
39,658
2,833
42,491
2,261
**572**
**2021**
2020
£
£
4,824
9,144
26,581
34,415
21,450
43,043
**52,855**
**86,602**
**2021**
2020
£
£
8,074
-
26,880
-
**34,954**
**-**
**2021**
2020
£
£
3,247
-
-
-
-
13
**3,247**
**13**|**Total**
£
41,919
1,144|
|---|---|---|
|||43,063|
|||Total
£
39,658
2,833|
|||42,491|
|||2,261|
|||**572**|
Page 11
## **12 Cash at Bank**
|**ank**||
|---|---|
|Nat West
CAF Cash
CAF Gold
Overseas Bank
Cash in Hand
**Total**
Trade creditors
Accrued Transport costs
**Total**|**2021**
2020
£
£
7,854
7,854
3,557
5,525
26,130
68,348
7,618
2,771
856
940|
||**45,869**
**85,438**|
||**2021**
2020
£
£
29
-
3,500
3,500|
||**3,529**
**3,500**|
## **13 Creditors**
## **14 Reconciliation of net movement in fund to net cash flow from operating activities**
|Net movement in funds
Depreciation
Deduct legacy / donations
Deduct investment income shown in investing activities
Decrease / (increase) in stock
(Increase) / decrease in debtors & prepayments
Increase / (decrease) in creditors
**Net cash used in operating activities**|**2021**
2020
£
£
-36,700
-26,398
2,833
3,936
-19,322
-50,192
-6
-51
33,747
-54,681
-38,188
78,258
29
2,312|
|---|---|
||**-57,607**
**-46,816**|
## **15 Related Party transactions**
The Fund does not employ any staff. Trustees are sometimes reimbursed for travelling expenses incurred.
As a result of the extensive additional work carried out by the Treasurer in dealing with a special project, the Trustees awarded a one off honorarium of £1,000 to the Treasurer.
Page 12
## **16 Comparative Statement of financial activities for the year ended 31 December 2020**
|**INCOME AND ENDOWMENTS**
**FROM**
Donations
Legacy
Charitable Activities
Investments
**TOTAL**
**EXPENDITURE ON**
Raising Funds
Charitable Activities
**TOTAL**
**NET INCOME / (EXPENDITURE)**
TRANSFER BETWEEN FUNDS
**NET FUND MOVEMENT**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**Total funds carried forward**|UNRESTRICTED
RESTRICTED
TOTAL
FUNDS
FUNDS
2019
£
£
£
36,964
13,228
50,192
-
-
-
25,943
-
25,943
51
-
51|
|---|---|
||**62,958**
**13,228**
**76,186**|
||974
-
974
97,610
4,000
101,610|
||**98,584**
**4,000**
**102,584**|
||**-35,626**
**9,228**
**-26,398**
-
-
-|
||**-35,626**
**9,228**
**-26,398**
177,212
20,000
197,212|
||**141,586**
**29,228**
**170,814**|
Page 13