Registered number: 04125328 Charity number: 1089344
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 - 9 |
| Notes to the financial statements | 10 - 21 |
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees
B Munro E Kapofu R Campbell K Rudman
Company registered number
04125328
Charity registered number
1089344
Registered office
72a Chelsham Road South Croydon CR2 6HY
Principal operating office
72a Chelsham Road South Croydon CR2 6HY
Company secretary
K Rudman
Accountants
Venthams Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS4 1DB
Page 1
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their annual report together with the financial statements of the company for the 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objectives of the charity are to advance the Christian faith in the United Kingdom and other parts of the world and to relieve the distress for persons in the United Kingdom who are in need or hardship or who are aged or sick.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
Throughout the year Harvest Community Network has undertaken many activities in the furtherance of its stated objectives and the trustees believe that these activities have provided public benefit both to members of the congregations and the wider community.
c. Grant-making policies
Grants are made to connected entities and churches within the Harvest Community Network to support to their continued activities.
d. Main activities undertaken to further the company's purposes for the public benefit
During the course of the year several donations to help individuals with particular needs have been made, including payments for counselling, relief of hardship and gifts to churches to aid the purchase of necessary equipment to run, for example soup kitchens, food banks and homeless shelters. Activities have also included the provision of training for young leaders to help equip and prepare them for future ministry and missions.
Achievements and performance
a. Key performance indicators
The charity received income of £90,445 (2021: £98,700) and incurred expenses of £127,271 (2021: £64,950) resulting in a decrease in reserves of £36,826. Closing reserves were £710,079.
Page 2
HARVEST COMMUNITY NETWORK (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Achievements and performance (continued)
b. Review of activities
The charity continues to oversee the activities of all of the connected entities and churches within the Harvest Community Network by continuing to provide an improved and efficient administrative function. Much of the charity's income is rental income from the properties held by this charity and HCN Trustees Ltd which holds properties on behalf of the Harvest Community Network; the income is then utilised to support the activities of the connected entities and churches, in order to meet the charity's objectives.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The trustees consider they should hold reserves of at least three months' expenditure as a buffer in the event of the income of the charity being reduced due to unforeseen circumstances.
Structure, governance and management
a. Constitution
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 14 December 2000, amended to allow for charitable status on 18 September 2001.
The company is constituted under a Memorandum of Association dated 14 December 2000 and is a registered charity number 1089344.
The principal object of the company is to advance the Christian faith in The United Kingdom and other parts of the world. Also to relieve the distress for persons in the United Kingdom and other parts of the world who are in need or hardship or who are aged or sick.
b. Methods of appointment or election of trustees
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Risk management
The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Page 3
HARVEST COMMUNITY NETWORK (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Future developments
The charity intends to continue with its existing activities, in particular, focusing on the training and developing of young ministerial leaders for the future.
Statement of trustees' responsibilities
The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial . Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) 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 company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of trustees and signed on their behalf by:
R Campbell (Trustee)
Date: 21 September 2023
Page 4
HARVEST COMMUNITY NETWORK (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
Independent examiner's report to the trustees of Harvest Community Network ('the company')
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2022.
Responsibilities and basis of report
As the trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Page 5
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
This report is made solely to the company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's 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 law, I do not accept or assume responsibility to anyone other than the company and the company's trustees as a body, for my work or for this report.
Signed: Stuart Harrison FCA
Dated: 25 September 2023
Venthams
Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS4 1DB
Page 6
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income from: Donations and legacies 2 Investments 3 Total income Expenditure on: Charitable activities 5 Total expenditure Net (expenditure)/income before taxation Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 10,250 80,195 90,445 127,271 127,271 (36,826) (36,826) 746,905 (36,826) 710,079 |
Total funds 2022 £ 10,250 80,195 90,445 127,271 127,271 (36,826) (36,826) 746,905 (36,826) 710,079 |
Total funds 2021 £ 57,262 41,438 98,700 |
|---|---|---|---|
| 64,950 64,950 |
|||
| 33,750 33,750 |
|||
| 713,155 33,750 746,905 |
Page 7
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 12 Unrestricted funds 12 Total funds |
15,902 28,207 44,109 (1,449) |
2022 £ 667,419 667,419 42,660 710,079 710,079 - 710,079 710,079 |
6,303 74,273 80,576 (1,355) |
2021 £ 667,684 |
|---|---|---|---|---|
| 667,684 79,221 |
||||
| 746,905 | ||||
| 746,905 | ||||
| - 746,905 |
||||
| 746,905 |
Page 8
HARVEST COMMUNITY NETWORK (A company limited by guarantee)
BALANCE SHEET (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
R Campbell Trustee
Date: 21 September 2023
Page 9
HARVEST COMMUNITY NETWORK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
(A company limited by guarantee)
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Harvest Community Network meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Company status
The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
1.3 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
Page 10
HARVEST COMMUNITY NETWORK (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting policies (continued)
1.4 Expenditure (continued)
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.6 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
- Freehold property Computer equipment - 33% straight line
1.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.8 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 acquisition or opening of the deposit or similar account.
1.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Page 11
HARVEST COMMUNITY NETWORK (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting policies (continued)
1.10 Financial instruments
The company only has financial assets and financial 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
2. Income from donations and legacies
| Unrestricted funds 2022 £ Subscriptions from churches 10,250 Unrestricted funds 2021 £ Subscriptions from churches 9,262 HCN Trustees Ltd 48,000 57,262 |
Total funds 2022 £ 10,250 |
|---|---|
| Total funds 2021 £ 9,262 48,000 57,262 |
Page 12
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
3. Investment income
| Unrestricted funds 2022 £ Investment income - local investment properties 80,173 Investment income - local cash 22 80,195 Unrestricted funds 2021 £ Investment income - local investment properties 41,238 Investment income - local cash 200 41,438 |
Total funds 2022 £ 80,173 22 80,195 |
|---|---|
| Total funds 2021 £ 41,238 200 41,438 |
4. Analysis of grants
| Grants, Harvest Community Network Grants, Harvest Community Network |
Grants to Institutions 2022 £ 3,000 Grants to Institutions 2021 £ 5,000 |
Total funds 2022 £ 3,000 |
|---|---|---|
| Total funds 2021 £ 5,000 |
The company has made the following material grants to institutions during the year:
Page 13
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
4. Analysis of grants (continued)
| Name of institution The Gospel Centre International Life Centre Harvest Christian Fellowship Caesalem Project |
2022 £ 3,000 - - - 3,000 |
2021 £ 1,000 2,000 1,000 1,000 |
|---|---|---|
| 5,000 |
5. Analysis of expenditure on charitable activities Summary by fund type
| Unrestricted funds 2022 £ Harvest Community Network 127,271 Unrestricted funds 2021 £ Harvest Community Network 64,950 |
Total 2022 £ 127,271 |
|---|---|
| Total 2021 £ 64,950 |
6. Analysis of expenditure by activities
| Activities | Grant | |||
|---|---|---|---|---|
| undertaken | funding of | Support | Total | |
| directly | activities | costs | funds | |
| 2022 | 2022 | 2022 | 2022 | |
| £ | £ | £ | £ | |
| Harvest Community Network | 9,928 | 3,000 | 114,343 | 127,271 |
Page 14
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. Analysis of expenditure by activities (continued)
| Harvest Community Network Analysis of direct costs Ministry expenses Ministry expenses |
Activities undertaken directly 2021 £ 5,349 |
Grant funding of activities 2021 £ 5,000 |
Support costs 2021 £ 54,601 Harvest Community Network 2022 £ 9,928 Harvest Community Network 2021 £ 5,349 |
Total funds 2021 £ 64,950 |
|---|---|---|---|---|
| Total funds 2022 £ 9,928 |
||||
| Total funds 2021 £ 5,349 |
Page 15
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Repairs and maintenance Office expenses and gifts Loan and bank interest paid Insurance Legal and professional fees Governance costs Staff costs Depreciation Repairs and maintenance Office expenses and gifts Loan and bank interest paid Insurance Legal and professional fees Governance costs |
Harvest Community Network 2022 £ 24,176 265 67,847 4,227 110 3,125 13,184 1,409 114,343 Harvest Community Network 2021 £ 15,354 346 22,642 4,049 74 2,239 8,607 1,290 54,601 |
Total funds 2022 £ 24,176 265 67,847 4,227 110 3,125 13,184 1,409 114,343 |
|---|---|---|
| Total funds 2021 £ 15,354 346 22,642 4,049 74 2,239 8,607 1,290 54,601 |
Page 16
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
7. Independent examiner's remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the company's independent examiner for the independent | ||
| examination of the company's annual accounts | 1,314 | 1,248 |
Page 17
HARVEST COMMUNITY NETWORK (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
8. Staff costs
| Wages and salaries | 2022 £ 24,176 24,176 |
2021 £ 15,354 15,354 |
|---|---|---|
The average number of persons employed by the company during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Employee | 2 | 2 |
No employee received remuneration amounting to more than £60,000 in either year.
9. Tangible fixed assets
| Cost or valuation At 1 January 2022 At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 |
Freehold property £ 667,419 667,419 - - - 667,419 667,419 |
Computer equipment £ 1,048 1,048 783 265 1,048 - 265 |
Total £ 668,467 668,467 |
|---|---|---|---|
| 783 265 1,048 |
|||
| 667,419 | |||
| 667,684 |
Page 18
HARVEST COMMUNITY NETWORK (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
10. Debtors
| Due within one year Trade debtors Other debtors |
2022 £ 5,628 10,274 15,902 |
2021 £ 803 5,500 |
|---|---|---|
| 6,303 |
11. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
2022 £ 35 1,414 1,449 |
2021 £ 35 1,320 |
|---|---|---|
| 1,355 |
Page 19
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
12. Statement of funds
Statement of funds - current year
| Balance at 1 January 2022 £ Unrestricted funds General Fund 746,905 Statement of funds - prior year Balance at 1 January 2021 £ Unrestricted funds General Fund 713,155 13. Analysis of net assets between funds Analysis of net assets between funds - current year Tangible fixed assets Current assets Creditors due within one year Total |
Income £ Expenditure £ 90,445 (127,271) Income £ Expenditure £ 98,700 (64,950) Unrestricted funds 2022 £ 667,419 44,109 (1,449) 710,079 |
Balance at 31 December 2022 £ 710,079 Balance at 31 December 2021 £ 746,905 Total funds 2022 £ 667,419 44,109 (1,449) 710,079 |
|---|---|---|
Page 20
HARVEST COMMUNITY NETWORK
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
13. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 667,684 80,576 (1,355) 746,905 |
Total funds 2021 £ 667,684 80,576 (1,355) 746,905 |
|---|---|---|
14. Related party transactions
During the year a salary of £6,480 (2021 - £5,244) was paid to P Campbell, wife of R Campbell, trustee of the charitable company. The salary was paid for administrative services and is authorised by the provisions in the Memorandum of Association.
During the year a salary of £11,096 (2021 - £11,110) was paid to B Munro, trustee of the charitable company.
During the year a salary of £6,600 (2021 - £Nil) was paid to R Campbell, trustee of the charitable company.
During the year gifts and donations amounting to £500 (2021 - £2,275) were paid to trustees and related parties of the charitable company.
During the year trustees were reimbursed expenses totalling £1,581 (2021 - £892).
During the year donations of £2,145 (2021 - £2,662) were received from International Life Centre a charity with one or more common trustees. An amount of £5,500 (2021 - £5,500) was due from International Life Centre at the balance sheet date.
An amount of £4,774 (2021 - £Nil) was due from HCN Trustees Ltd a connected company with Trustees in common at the balance sheet date.
Page 21