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|Contents|||Page|
|---|---|---|---|
|Report of|the Directors||1-8|
|Report of|the independent|Auditors|9-12|
|Statement|of Financial Activities||13|
|Balance Sheet|||14|
|Statement|ofCash Flows||15-16|
|Notes to the Financial Statements|||17-35|
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|||Unrestricted|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
|Income and Expenditure|Account|Funds||Funds|Funds|Funds|
||Note|General
f|Designated
E||2023
E|2022
E|
|Income|||||||
|Donations
and legacies|3|1,765,653|188,206|2,526,399|4,480,258|3,203,984|
|Investment
income|4|13,499|||13,499|10,472|
|Grants|6||||||
|Charitable
activities:|||||||
|Literature|5|395,183||2,408|397,591|521,302|
|Other programmes|5|2,800|6,379|10,227|19,406|12,586|
|Total Income||2,177,135|194,585|2,539,034|4,910,754|3,748,344|
|Expenditure|||||||
|Cost of raising funds|7|327,088|||327,088|203,120|
|Charitable
activities|7|389,461|1,512,591|2,689,992|4,592,044|3,837,755|
|Total Expenditure||716,549|1,512,591|2,689,992|4,919,132|4,040,875|
|Net operating
income/(expenditure)||1,460,586|(1,318,006)|(150,958)|(8,378)|(292,531)|
|Net gains/[(losses)
on
investments||(25,649)|||(25,649)|(38,235)|
|Net gains/](losses)
on sale of
property,
plant and equipment|||||34|(228)|
|Net Income/(expenditure)
the year|for|1,434,971|(1,318,006)|(150,958)|(33,993)|(330,994)|
|Transfers
between
funds|18|1,450,754)|1,450,754||||
|Net movement
in funds||(15,783)|132,748|(150,958)|(33,993)|(330,994)|
|Reconciliation offunds|||||||
|Funds brought
forward at 1"July 2022||130,366|1,068,000|1,191,723|2,390,089|2,721,083|
|Funds carried forward at 30eJune
2023||114,583|1,200,748|1,040,765|2,356,096|2,390,089|
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||A|S AT30
JUNE|2023||
|---|---|---|---|---|
||||2023|2022|
||||5|5|
|Cash outflow from operating
activities|||||
|Net cash provided
by/(used
in) operating|activities||(221,612)|351,600|
|Cash flows from Investing
activities|||||
|Investment
income and interest received
Proceeds from the sale of property,
plant|and|equipment|13,499
34|10,472
150|
|Payments
to acquire tangible
fixed assets
Proceeds from the sale of investments|||(20,170)
224,261|(460,261)|
|Net cash provided
by (used in) investing|activities||217,624|(449,639)|
|Cash flows from financing
activities|||||
|Cash inflows from new borrowing|||13,934|596,066|
|Net cash provided
by (used in) financing|||13,934|596,066|
|Net increase/(decrease)
in cash and cash||equivalents|9,946|(205,174)|
|Cash and cash equivalents
at beginning|ofyear||474,928|680,102|
|Cash and cash equivalents
at end ofyear|||484,874|474,928|
|Reconciliation
ofnet Income/ (expenditure)||to net cash flow|from operating
activities||
|||2023|2022|
|---|---|---|---|
|||6|6|
|Net income/(expenditure)||(33,993)|(330,993)|
|Ad)ustments
for.||||
|Depreciation
charges
Net losses/ (gains) on investments||49,302
25,649|44,833
38,235|
|Investment
income
Loss/ (profit) on sale offixed assets
(Increase)/ Decrease
in stock
(Increase)/Decrease
in debtors
(Decrease)/ Increase
in creditors
(Decrease)/ Increase
in provisions||(13,499)
(34)
(53,040)
(256,254)
60,257|(10,472)
228
28,979
20,439
(121,498)
(21,351)|
|Net cash provided
by/(used
in) operating|activities|(221,612)|(351,600)|
##
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|||As at 1|Cashflows|Other|As at 30|
|---|---|---|---|---|---|
|||July 2022||Non&ash|June 2023|
|||||Changes||
|Cash at bank||474,928|9,946||484,874|
|Cash held by investment|managers|||||
|Loans: Falling due within|one year|(596,066)|(13,934)||(610,000)|
|Loans: Falling due after|more than one year|||||
|||(121,138)|(3,988)||(125,126)|
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|||||Unrestricted|Unrestricted||2023|
|---|---|---|---|---|---|---|---|
|||||General|Designated|Restdcted|Total|
|||||Funds
5|Fundsf|Funds
6|Funds
8|
|Literature:||||||||
|Other donations|and|gilts||111,415|58,363|755,163|929,941|
|Income tax receivable
Legades||||||4,578|4,578|
|Scholarship
and|education:|||||||
|Other donations|and|gifts||55,006|38,760|853,576|947,342|
|Income tax receivable
Legades||||||4,015|4,015|
|Preaching
and teaching;||||||||
|Other donations|and|gifts||3,677|54,540|838,548|896,765|
|Income tax receivable
Legacies||||||5,923|5,923|
|Hookses:||||||||
|Other donations
Legacies|and|gifts||||26,135|26,135|
|Langham
International||Including|LSC property:|||||
|Other donations|and|gifts||226,516|36,543|38,461|301,520|
|Income tax receivable||||||||
|General Income:||||||||
|Other donations|and|gifts||836,829|||836,829|
|Income tax receivable||||41,326|||41,326|
|Legacies||||490,884|||490,884|
|||||1,765,653|188,206|2,526,399|4,480,258|
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|||||Unrestricted|Unrestricted||2022|
|---|---|---|---|---|---|---|---|
|||||General|Designated|Restricted|Total|
|||||Funds
8|Funds
E|Fundsf|Funds
8|
|Literature:||||||||
|Other donations|and|gifts||63,787|48,118|647,868|759,773|
|Income tax receivable
Legacies||||||6,154|6,154|
|Scholarship
and|education:|||||||
|Other donations|and|gifts||65,244|112,893|525,794|703,931|
|Income tax receivable
Legatee||||||2,683|2,683|
|Preaching
and teaching:||||||||
|Other donations|and|gifts|||48,118|604,134|652,252|
|Income tax receivable
Legacies||||||6,262|6,262|
|Hookses:||||||||
|Other donations
Legacies|and|gifts||||23,420|23,420|
|Langham
International||induding|LSC property.|||||
|Other donations|and|gifts||195,699|58,526|77,691|331,916|
|income tax receivable||||||400|400|
|General Income:||||||||
|Other donations|and|gifts||619,180|||619,180|
|Income tax receivable
Legacies||||86,693
11320|||86,693
11320|
|||||1,041,923|267,655|1,894,406|3,203,984|
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||||||
|---|---|---|---|---|
|UK Investments|Unrestricted|||2023|
||General|Designated|Restricted|Total|
||Funds|Funds|Funds|Funds|
|||||6|
|Listed investments|13499|||13,499|
||13,499|||13,499|
##
||||||
|---|---|---|---|---|
|UK Investments|Unrestricted|||2022|
||General|Designated|Restricted|Total|
||Funds|Funds|Funds|Funds|
|||6|6|6|
|Listed investments|10472|||10472|
||10,472|||10,472|
##
|||||Unrestricted|Unrestricted||2023|
|---|---|---|---|---|---|---|---|
|||||General|Designated|Restricted|Total|
|||||Funds|Funds|Funds|Funds|
|||||6|6|6||
|Literature|-Additional||book programme|312,355|||312,355|
|Literature|-Other|income||82,828||2,408|85,236|
|Other Programme||Income||2 800|6379|10227|19,406|
|||||397,983|6,379|12,635|416,997|
|||||Unrestricted|||2022|
|||||General|Designated|Restricted|Total|
|||||Funds|Funds|Funds|Funds|
|||||6|F.|8|F|
|Literature|-Additional||book programme|413,134|||413,134|
|Literature|—Other|Income||99,770||8,398|108,168|
|Other Programme||Income||601||3,767|12586|
|||||513,505|8,218|12,165|533,888|
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|TOTAL|EXPENDITUR|E|||||||
|---|---|---|---|---|---|---|---|---|
|||Cost of|||||||
|||raising||Scholarship|Preaching|||Total Funds|
|||funds|Literature|&education|&teaching|LPI|Hookses|2023|
|||E|S|6|6|6|S|6|
|Grants (note 8)|||412,351|742,291|54,406|15,000||1,224,048|
|Other direct|||||||||
|Programme|||256,841|51,495|142,421|65,972|26,100|542,829|
|Literature
Trading|||332,786|||||332,786|
|Programme|indirect||||||||
|costs|||||||||
|Wages &Salaries||185,313|362,881|100,865|121,120|334,093||1,104,272|
|LSC salary and cost
allocation|||83,036|1,175|6,014|(90,288)|||
|General support
costs||141,712|223,166|159,990|903,790|286,539||1,715,197|
|||327,088|1,671,061|1,055,816|1,227,751|611,316|26,100|4,919,132|
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|||Cost of|||||||
|---|---|---|---|---|---|---|---|---|
|||raising||Scholarship|Preaching|||Total Funds|
|||funds|Literature|&education|&teaching|LPI|Hookses|2022|
|||6|6||6|6|6|f|
|Grants (note|8)||497,720|517,641|75,250|6,399||1,097,010|
|Other direct|||||||||
|Programme|||278,949|36,848|62,127|751|21,215|399,890|
|Literature
Trading|||415,546|||||415,546|
|Programme|indirect||||||||
|costs|||||||||
|Wages &Salaries||144,186|404,340|110,590|104,258|295,324||1,058,698|
|LSC salary and cost
allocation|||52,117|727|3,731|(56,575)|||
|General support
costs||58,934|169,926|115,498|475,123|250,250||1,069,731|
|||203,120|1,818,598|781,304|720,489|496,149|21,215|4,040,875|
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|Scholarships|Scholarships|Scholarships|
|---|---|---|
|Preaching|||
|Literature|||
|Langham|International||
|Total|||
|Grants paid||in the year can be analysed:|
|Individuals|||
|Institutions|||
|2023|2022|
|---|---|
|Total|Total|
|Funds|Funds|
|742,291|517,642|
|54,406|75,249|
|412,351|497,720|
|15000|6399|
|1,224,048|1,097,010|
|No|f|
|13,025|499,976|
|883|724,072|
||1,224,048|
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|STAFF|COSTS|AND|R|ELATED PARTY|TRANSACTIONS|||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
||||||||6|
|Wages|and salaries|||||956,789|891,686|
|Social security costs||||||78,640|73,795|
|Pension|costs|||||80,781|78,139|
|Other Benefits||||||14096|13848|
|||||||1,130,306|1,057,468|
|Average|monthly|number||ofstaff:||No|No|
|Office and programme|||staff|||43|41|
|The number of employees||||whose emoluments|exceeded 660,000were:|||
|||||||2023|2022|
##
|NET INCOME/(EXPENDITURE)|||
|---|---|---|
|This is stated affer charging:|2023
6|2022f|
|Auditors'
remuneration:|||
|-for audit services: current year|18,025|14,150|
|-for audit services: prior year under (over) accrual|||
|-for non-audit
services|||
|Depreciation|49,302|44,833|
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##
|TA|NGIB|LE FIXEDASSETS||||||||
|---|---|---|---|---|---|---|---|---|---|
||||Freehold|land|Freehold|Freehold|Assets under|Furniture,|Total|
||||||building
LSC|building|construction|fittings and||
|||||f|E|Hookses
E|E|equipment
E||
|Cost|and|valuation||||||||
|||At 1st July 2022|340,000||1,437,635|503,169||98,705|2,379,509|
|||Additions|||2,552|||17,619|20,171|
|||Disposal||||||||
|||At 30th June 2023|340,000||1,440,187|503,169||116324|2 399680|
|||Depreciation||||||||
|||At 1st July 2022|||23,961|||46,492|70,453|
|||Disposal||||||||
|||Charge for the year|||28,804|||20,498|49,302|
|||At 30th June 2023|||52,765|||66,990|119,755|
|||Net book value||||||||
|||At 30th June 2023|340,000||1,387,422|503,169||49,334|2,279,925|
|||At 30th June 2022|340,000||1,413,675|503,169||52,213|2,309,057|
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|FIXEDASSET INVESTMENTS|FIXEDASSET INVESTMENTS|Listed|Cash|||
|---|---|---|---|---|---|
|||Investments|deposits|Total|Total|
|||2023|2023|2023|2022|
|||6|6||E|
|UK Investments||||||
|At 1"July 2022||363,327|1,000|364,327|402,562|
|Disposals||(224,261)||(224,261)||
|Net investment|(losses)/gains|25,649||25,649|38234|
|Market value at|30'" June 2023|113,417|1,000|114,417|364,328|
|Historic cost as|at 30a June 2023|225,177|1,000|226,177|226,177|
##
|STOCK||||
|---|---|---|---|
|||2023|2022|
|||6|6|
|Stock of|books|133,056|80,016|
|DEBTORS||||
|||2023
5|2022f|
|Trade debtors||26,298|67,879|
|Other debtors and Prepayments||58,806|56,355|
|Accrued|Income|323199|27815|
|||408,303|152,049|
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|CREDITORS: Amounts
falling due within one ye|ar||
|---|---|---|
||2023|2022|
||6||
|Other creditors
Banklosn|297,699|273,324
596,066|
|Other Loans|610,000|50,000|
|Accruals|69,439|63,782|
|Income
in advance|80,225||
||1,057,363|983,172|
##
|PROVISIONS: Amounts
falling due within one|year||
|---|---|---|
||2023|2022|
||6|6|
|Provision|7 116|7 116|
||7,116|7,116|
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|||||||||||||||Nst gains/|Nst gains/||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||(losses) on|||
|||||||||||||||sale of|||
||||||Balance at
01.07.22
E|Income
6|||Expenditure
f||Transfers
E
Investment
Gains/(Loss)
E|||property,
plant and
equ!pment
E||Balance at
30.06.23|
|General fund|||||||||||||||||
|LPUKI|||||130,366|1,382,539|||(459,748)||(912,925)||(25,649)|||114,583|
|Programmes||||||568,080||||(30,251)|(537,829)||||||
|LPI||||||226||516||226 550|||||||
||||||130,366|2,177,135|||(716,549)||(1,450,754)||(25,649)|||114,583|
|Designated|funds:||||||||||||||||
|Programmes
Reserves Policy|||Fund||(363,850)
279,222||157,830||(1,211,351)||1,207,276
20,778|||||(210,095)
300,000|
|LPI
LPI Strategic||Opportunities|||138,282
12,005||35,607
936||(292,835)|||92,700||||(26,246)
12,941|
|LPI
Working||||Capital|||||||||||||
|Reserve|||||24,000|||||||||||24,000|
|LSC Property||Development|||978341|||212||8405||130000||||1,100148|
||||||1,068,000||194,585||(1,512,591)||1,450,754|||||1,200,748|
||||||||||||||||Net gains/||
||||||||||||||||(losses) on||
||||||||||||||||sale of||
||||||Balance
01.07.21
E|at|Income
E|||Expenditure
6||Transfers
f|Investmentl
Gains/(Loss]
E||property,
plant and
equipment
E|Balance at
30.06.22
E|
|General|fund||||||||||||||||
|LPUKI|||||131,976|||727,665||(314,937)||(376,103)|(38,235)|||130,366|
|Programmes||||||||642,537||(522,560)||(119,977)|||||
|LPI||||||||195,698||195,698|||||||
||||||131976|||1 565|900|1 033,195||496080|38235|||130366|
|Designated||funds:|||||||||||||||
|Programmes
Reserves Policy||||Fund|(145,458)
277,612|||217,344||(696,792)||261,056
1,610||||(363,850)
279,222|
|LPI|||||178,043|||58,526||(164,292)||102,010||||174,287|
|LSC Property|||Development||966 433||||3|11,532||23437||||978,341|
||||||1 276,630|||275|873|872,616||388113||||1 068 000|
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||||||||Net gains/||
|---|---|---|---|---|---|---|---|---|
||||||||gosses)||
||||||||on sale of||
|||Balance|||||property,|Balance|
|||01.07.22
6|Income|Expenditure
E|Transfers
E|Investment
Gains
6|plant and
equipment
f|30.06.23
6|
|Scholarship
Fund||281,257|860,000|(904,651)|6,000|||242,606|
|Hookses|Fund|579,193|26,140|(26,100)||||579,233|
|LPI|||38,461|(38,461)|||||
|LPI —International|||||||||
|Ministry Director||2,819|10,222|(2,846)|(6,000)|||4,195|
|Preaching|Seminars||||||||
|Fund||165,707|844,471|(988,175)||||22,003|
|Literature|Fund|2,603|637,406|(510,251)|(102,783)|||26,975|
|PD General
Fund||5,373|65,904|(174,060)|102,783||||
|PD Europe Fund|||1,813|(1,813)|||||
|PD East Asia Fund|||13,635|(13,635)|||||
|Windows|on the Text|154,771|40,982|(30,000)||||165,753|
|||1,191,723|2,539,034|(2,689,992)||||1,040,765|
##
##
|||||||Net gains/|||
|---|---|---|---|---|---|---|---|---|
|||||||(losses)|||
|||||||on sale of|||
||Balance|||||property,|Balance||
||at
01.07.21
E|Incomef|Expenditure
E|Transfers
6|Investment
Gains
6|plant and
equipment
6|at
30.00.22
E||
|John Stott Memorial|||||||||
|Fund
Scholarship
Fund
Langham
Service|1,427
317,915|528,477|(1,427)
(565,135)|||||281,257|
|Centre|2,099|43,550|(45,649)||||||
|Hookses Fund
LPI|576,982
19,110|23,427
34,541|(21,215)
(53,651)|||||579,194|
|LPI —International|||||||||
|Ministry
Director
Preaching
Seminars|6,072|3,759|(7,012)|||||2,819|
|Fund
Literature
Fund
PD General
Fund
Windows
on the Text|248,649
27,314
6,250
106,659|610,396
579,090
34,787
48,543|(681,328)
(603,801)
(155,642)
(431)|(12,010)
119,977||||165,707
2,603
5,372
154,771|
||1,312,477|1 906,570|2,135,291|107967|||1|191723|
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|||Tangible|Investments|Net|Non Current|Total|
|---|---|---|---|---|---|---|
|||Fixed||Current|Assets|2023|
|||Assets||(Liabilities)|||
|Unrestricted|Funds||||||
|General
Funds||49,333|114,417|(49,167)||114,583|
|Designated|Funds|1,727,423||(526,674)||1,200,749|
|Restricted|Funds|503,169||537,595||1,040,764|
|||2,279,925|114,417|(38,246)||2,356,096|
|||Tangible|investments|Net|Non Current|Total|
|||Fixed||Current|Assets|2022|
|||Assets||Assets|||
|Unrestricted|Funds||||||
|General
Funds||52,213|364,328|(286,175)||130,366|
|Designated|Funds|1,753,675||(685,674)||1,068,001|
|Restricted|Funds|503,169||688,554||1,191,723|
|||2,309,057|364,328|(283,295)||2,390,090|
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