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2023-12-31-accounts

REGISTERED COMPANY NUMBER: 03752333 (England and Wales) REGISTERED CHARITY NUMBER: 1094702

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Elsby & Co (Sywell) Ltd Chartered Accountants 155 Wellingborough Road Rushden Northamptonshire NN10 9TB

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Contents of the Financial Statements for the year ended 31 DECEMBER 2023

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 23
Detailed Statement of Financial Activities 24 to 25

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Report of the Trustees for the year ended 31 DECEMBER 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).

Page 1

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Report of the Trustees

for the year ended 31 DECEMBER 2023

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity is established to promote public health by the promotion of spiritual healing for the benefit of the public, by educating and training healers and by ensuring proper standards in the practice of spiritual healing.

In recent years, the charity has seen a decline in memberships. The medium-term aim is to reverse this trend and generate an up-take of new memberships, to ensure that the charity can meet its objectives. To achieve this, the charity has been increasing activities especially online to reach a wider audience and investing in improvements to its training and systems:

In addition to the above, the charity continues to undertake activities to promote spiritual healing to the public and improve public health through access to spiritual healing:

The promotion of public health through healing is at the heart of all activities. The Healing Trust continues to ensure the highest standard of spiritual healing through its provision of training and education. Activities to support this include:

Page 2

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Report of the Trustees

for the year ended 31 DECEMBER 2023

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake, and when considering what constitutes public benefit.

STRATEGIC REPORT

Achievement and performance

Charitable activities

With the objectives of the charity being to promote public health and promote spiritual healing for the benefit of the public, the achievement of these objectives can be measured via public participation in the activities of the charity, along with membership numbers and donations.

During 2023, there were several indicators that the charity has been achieving its objectives regarding the promotion of public health and spiritual healing:

The new website has generated a lot of new enquiries about the healer training. The charity is offering free introductory courses for those interested. Existing tutors are being encouraged to offer sufficient courses to meet the increase in demand.

There is also a need to recruit and train new tutors who will be enabled to teach online as well as face to face and fully embrace the new 200 hour training. Retraining of established tutors (if needed) is ongoing through monthly trainee tutor / tutor meetings.

With the investment in the charity's website and office systems, the expectation is that further improvements in membership numbers will be evident in the next 2-3 years' time. This time frame assumes that the website continues to generate interest from the public.

It is anticipated that The Healing Trust will also draw a cohort of new members from engaging in healing activities on other online platforms such as Instagram and TikTok. Office staff should be available to develop new ways to promote the charity once their time is freed up by the automation of several processes.

Overall, the achievements of regional centres, healers and the engagement of the public with the charity's activities, old and new, are demonstrating that the charity can look positively to the future as it seeks to grow and reach out to new members of the public. None of these activities could be achieved without the support of our volunteer healer members, and the trustees wholeheartedly thank them all for their hard work and commitment to The Healing Trust. The trustees are also very grateful for our tutors' continued support and maintenance of high standards of teaching. It is gratefully acknowledged that trustees themselves past and present have made a substantial contribution to the day to day running, monitoring, improvement, legal compliance and future planning of The Healing Trust.

Page 3

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Report of the Trustees for the year ended 31 DECEMBER 2023

STRATEGIC REPORT Financial review

Financial position

The results for the year are shown on pages 8-11. 2023 generated a net income position of £405,009 (2022: net expenditure £19,463); which includes £17,515 of unrealised gains on investments (net income without unrealised gain: £387,494). 2023 saw a stable level of membership numbers and also membership income (2023: £64,322, 2022: £63,237). As a membership organisation, membership income is one of the most significant income streams for the charity. As outlined above, the extensive work undertaken over the past year on the new website, social media presence and online training program will aid in the recruitment of new students and increased membership income.

There was a large legacy of £421k (shown in Donations and Legacies) received during the year and £400k has been invested for 5 years with Tribe Impact Capital LLP after seeking independent financial advice from Elsby Wealth Management. The investment is held within a portfolio run for positive, sustainable impact. This investment has been initially recognised at cost, and is revalued annually to ensure the investment is being at held at fair value within the balance sheet.

Donations have increased against the previous year (2023: £33,377, 2022: £29,423). Donations are vital to the charity and the trustees are most thankful for all voluntary contributions received. Donations received at regional centres accounted for 76% of total donations received. The charity continues to make use of the Government's Gift Aid scheme and during 2023 also made use of the Gift Aid Small Donation Scheme (GASDS) to receive gift aid relief on small donations received at regional centres. Gift Aid is a vital stream of income for the charity and work continues to promote its use amongst our members and donors.

The charity's costs remain stable (2023: £144,815, 2022: £124,240). There were a number of one-off costs during the year, such as legal costs relating to GDPR compliance and a revision of policy documents (£10,500), an office move (£3,000), higher premises costs (£2,000) and branding (£1,500). Total donations received by regional centres throughout the year have covered all attributable costs of the corresponding centres.

The charity continues to look for cost savings where possible but has had to invest to grow such as investment in the new website. The strategy of increasing membership and awareness of the charity continues to be the focus to grow these income streams to support a mainly fixed cost base.

Reserves policy

At the balance sheet date, the charity had free reserves of £340,746 (2022: £353,252). In addition to free reserves, the company has funds of £417,515 (2022: £0) within a fixed asset investment. This fixed asset investment is held with the intention of income generated being used to further the organisation's charitable purpose.

The charity continues to require reserves to protect against future income reduction, resulting from uncertain membership numbers and unpredictable donations and legacies. This is vital due to most significant costs incurred by the charity being fixed costs and not variable with income. In addition to providing security for the charity, the reserves are being utilised to move the charity forward; the new website and upgrade of the office system, tutor and healer training and online presence being key examples. Ultimately, these upgrades will generate an increase in public awareness, especially of improvement in health through receiving healing, as well as an increase in memberships and therefore income.

The charity will continue to update its strategic plan for the changes in technology, legal requirements and professional standards and use reserves as necessary to implement these. Reserves will also be required to support the charity through a period of change. The charity acknowledges the significant increase in reserves which requires careful consideration of how best to utilise them. At all times the promotion of public health and raising awareness of spiritual healing to benefit public health will be at the heart of the charity's activities.

Page 4

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Report of the Trustees for the year ended 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The organisation is a charitable company limited by guarantee, incorporated on 14 April 1999 and registered as a charity on 21st November 2002. The company was established under Memorandum and Articles of Association which sets out the objects and powers of the charitable company. In the event of the company being wound up each member is required to contribute an amount not exceeding £10.

Recruitment and appointment of new trustees

The Directors of the company are also charity trustees for the purpose of charity law and under the company's Articles are known as the Board of Trustees of the Charity. Under the terms of the Memorandum and Articles of Association the members of the Board of Trustees are ideally required both to be members of NFSH.

The Council of the Charity will be involved in the appointments of the Charity's Chair, Vice-Chair and Treasurer. The appointment of new trustees shall be via a Volunteer Vacancy process. A role description determining the necessary skills needed shall be circulated to members and applications for the role invited. Suitable applicants will then be interviewed for the position by members of the Board, Council, and any Office staff or other Officials of the organisation as deemed necessary.

Every endeavour should be made to recruit from within the organisation. However, should no suitable candidate be found from within the membership for any given vacancy, the trustees may widen the search to include Friends of the organisation or look beyond the organisation. In order to be appointed a trustee if recruited from outside the organisation, the appointee will become an Honorary member, and will serve for an agreed term, not less than six months and not more than three years, extendable by negotiation and agreed by the majority of trustees and endorsed by Council.

New trustees, excepting Honorary Members, to be appointed for a term of three years, with the option of renewing for a further three years if the majority of the Board agrees. Following this second term, a trustee may be elected for a final three years if invited to do so by the Board and the Council.

The Board shall have flexibility to determine the exact nature of the role, experience and skills needed for each vacancy, which may change from time to time in order to effectively govern the organisation.

Induction and training of new trustees

As trustees are drawn from the Healing Trust membership, trustees are already familiar with the activities of the charity before they join the Board of Trustees. Potential trustees normally attend at least one Board Meeting as an observer and meet and speak with at least some of the Charity's employed staff before accepting and taking on trustee responsibilities.

New trustees routinely receive copies of the latest accounts; Memorandum and Articles of Association; Standing Orders and the Charity Commission booklet "The Essential Trustee" before taking up a trustee role.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03752333 (England and Wales)

Registered Charity number

1094702

Registered office

39 Waterside House Nene Business Centre Station Road Irthlingborough Northamptonshire NN9 5QF

Page 5

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Report of the Trustees

for the year ended 31 DECEMBER 2023

Trustees

J Barley Healer (resigned 19.2.24) V Chiltonsmith Healer (resigned 28.3.24) Y Fitzgerald Trustee (resigned 4.11.23) P Hockley Trustee (resigned 4.11.23) J M Jones Trustee L Sumner Trustee A G Grunwald Healer H Parker (appointed 18.3.24) L Samara (appointed 18.3.24) A Stewart (appointed 18.3.24)

Independent Examiner

Carl Elsby ACA Elsby & Co (Sywell) Ltd Chartered Accountants 155 Wellingborough Road Rushden Northamptonshire NN10 9TB

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:

........................................................................ J M Jones - Trustee

Page 6

Independent Examiner's Report to the Trustees of The NFSH Charitable Trust Limited

Independent examiner's report to the trustees of The NFSH Charitable Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also 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 your charity's accounts as 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.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

Carl Elsby ACA The Institute of Chartered Accountants in England and Wales

Elsby & Co (Sywell) Ltd Chartered Accountants 155 Wellingborough Road Rushden Northamptonshire NN10 9TB

Date: .............................................

Page 7

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Statement of Financial Activities

for the year ended 31 DECEMBER 2023

2023
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
457,500
Charitable activities
6
Memberships
64,322
Other trading activities
4
4,869
Investment income
5
5,618
Total
532,309
EXPENDITURE ON
Charitable activities
7
Memberships
5,739
Other
139,076
Total
144,815
Net gains on investments
17,515
NET INCOME/(EXPENDITURE)
405,009
RECONCILIATION OF FUNDS
Total funds brought forward
353,252
TOTAL FUNDS CARRIED FORWARD
758,261		 2022
Total
funds
£
36,161
63,237
4,649
730
104,777
5,714
118,526
124,240
-
(19,463)
372,715
353,252

The notes form part of these financial statements

Page 8

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Balance Sheet 31 DECEMBER 2023

Notes
FIXED ASSETS
Intangible assets
13
Tangible assets
14
Investments
15
CURRENT ASSETS
Stocks
16
Debtors
17
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
19
Unrestricted funds
TOTAL FUNDS		 2023
Unrestricted
fund
£
14,604
334
417,515
432,453
-
9,285
337,955
347,240
(21,432)
325,808
758,261
758,261
758,261
758,261		 2022
Total
funds
£
9,792
580
-
10,372
1,716
9,201
357,014
367,931
(25,051)
342,880
353,252
353,252
353,252
353,252

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

The notes form part of these financial statements

continued...

Page 9

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Balance Sheet - continued

31 DECEMBER 2023

............................................. J M Jones - Trustee

The notes form part of these financial statements

Page 10

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Cash Flow Statement

for the year ended 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Purchase of fixed asset investments
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2023
£
383,340
(2,436)
380,904
(5,581)
-
(400,000)
5,618
(399,963)
(19,059)
357,014
337,955		 2022
£
(13,385)
(2,432)
(15,817)
(9,792)
(573)
-
730
(9,635)
(25,452)
382,466
357,014

The notes form part of these financial statements

Page 11

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Cash Flow Statement for the year ended 31 DECEMBER 2023

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
Gain on revaluation of investment
Decrease in stocks
(Increase)/decrease in debtors
Decrease in creditors
Net cash provided by/(used in) operations		 2023
£
405,009
1,015
(5,618)
2,436
(17,515)
1,716
(84)
(3,619)
383,340		 2022
£
(19,463)
4,841
(730)
2,432
-
1,498
3,739
(5,702)
(13,385)

2.

ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.1.23
Cash flow
At 31.12.23
£
£
£
Cash at bank and in hand 357,014
(19,059)
337,955
357,014
(19,059)
337,955
Total 357,014
(19,059)
337,955

The notes form part of these financial statements

Page 12

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements

for the year ended 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

Income is recognised when the trust is legally entitled to it after any performance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received and can be measured reliably.

Donations and Gifts:

Donations are recognised on receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the the trust has been notified of an impending distribution, the amount is known, and receipt is expected.

Grants Receivable:

Revenue grants are credited as incoming resources when they are receivable provided for conditions for receipt have been complied with, unless they relate to specific future periods, in which case they are deferred.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Intangible fixed assets other than goodwill

Intangible assets acquired separately from an entity are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website design and development - 5 years

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on cost

continued...

Page 13

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements - continued

for the year ended 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds 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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

continued...

Page 14

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements - continued

for the year ended 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In preparing the financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised int he financial statements.

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

3. DONATIONS AND LEGACIES

Donations
Gift aid
OTHER TRADING ACTIVITIES
Other income
INVESTMENT INCOME
Deposit account interest		 2023
£
449,719
7,781
457,500
2023
£
4,869
2023
£
5,618		 2022
£
29,423
6,738
36,161
2022
£
4,649
2022
£
730

4. OTHER TRADING ACTIVITIES

5. INVESTMENT INCOME

continued...

Page 15

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2023

6. INCOME FROM CHARITABLE ACTIVITIES

2023 2022
Activity £ £
Memberships subscriptions Memberships 64,322 63,237

7. CHARITABLE ACTIVITIES COSTS

Memberships
SUPPORT COSTS
Other resources expended
Memberships		 General
running
Information
costs
technology
£
£
97,147
24,480
5,739
-
102,886
24,480		 Support
costs (see
note 8)
£
5,739
Charitable
Governance
costs
costs
Totals
£
£
£
3,424
14,025
139,076
-
-
5,739
3,424
14,025
144,815

8. SUPPORT COSTS

Support costs, included in the above, are as follows:

Wages
Payroll costs
Pensions
Premises costs
Insurance
Light and heat
Advertising costs
Travel and hotels
Sundries
Panel costs
Bank charges
Office costs
Telephone costs
Computer costs
Photocopier rental cost
Computer software amortisation
Computer equipment depreciation
Meetings and exhibitions
Subscriptions and donations
Newsletter costs
Carried forward		 Other
resources
expended
Memberships
£
£
52,119
-
104
-
1,208
-
31,888
-
1,975
5,739
1,117
-
2,481
-
517
-
3,246
-
56
-
2,436
-
12,826
-
1,663
-
6,808
-
2,168
-
769
-
246
-
894
-
2,530
-
-
-
125,051
5,739		 2023
Total
activities
£
52,119
104
1,208
31,888
7,714
1,117
2,481
517
3,246
56
2,436
12,826
1,663
6,808
2,168
769
246
894
2,530
-
130,790		 2022
Total
activities
£
50,965
114
1,034
26,751
7,793
1,545
844
417
2,553
141
2,432
9,194
1,812
6,121
1,452
4,574
267
1,321
1,820
150
121,300

continued...

Page 16

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements - continued

for the year ended 31 DECEMBER 2023

8. SUPPORT COSTS - continued

----- Start of picture text -----
|||||| |---|---|---|---|---| |2023|2022| |Other| |resources|Total|Total| |expended|Memberships|activities|activities| |£|£|£|£| |Brought forward|125,051|5,739|130,790|121,300| |-| |Accountancy fees|2,952|2,952|2,280| |Professional fees|11,073|-|11,073|660| |139,076|5,739|144,815|124,240|

----- End of picture text -----

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Depreciation - owned assets|246|267| |Computer software amortisation|769|4,574|

----- End of picture text -----

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were travel expenses totalling £1,109 (2022: £1,991) relating to 1 trustee (2022: 2 trustees) for the year ended 31 December 2023.

11. STAFF COSTS

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Wages and salaries|52,119|50,965| |Social security costs|104|114| |Other pension costs|1,208|1,034| |53,431|52,113| |The average monthly number of employees during the year was as follows:| |2023|2022| |Support costs|2|3|

----- End of picture text -----

No employees received emoluments in excess of £60,000.

continued...

Page 17

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2023

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 36,161
Charitable activities
Memberships 63,237
Other trading activities 4,649
Investment income 730
Total 104,777
EXPENDITURE ON
Charitable activities
Memberships 5,714
Other 118,526
Total 124,240
NET INCOME/(EXPENDITURE) (19,463)
RECONCILIATION OF FUNDS
Total funds brought forward 372,715
TOTAL FUNDS CARRIED FORWARD 353,252

continued...

Page 18

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2023

13. INTANGIBLE FIXED ASSETS

13. INTANGIBLE FIXED ASSETS
Computer
software
£
COST
At 1 January 2023 40,342
Additions 5,581
At 31 December 2023 45,923
AMORTISATION
At 1 January 2023 30,550
Charge for year 769
At 31 December 2023 31,319
NET BOOK VALUE
At 31 December 2023 14,604
At 31 December 2022 9,792
14. TANGIBLE FIXED ASSETS
COST Computer
equipment
£
At 1 January 2023 and 31 December 2023 1,232
DEPRECIATION
At 1 January 2023 652
Charge for year 246
At 31 December 2023 898
NET BOOK VALUE
At 31 December 2023 334
At 31 December 2022 580

continued...

Page 19

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements - continued

for the year ended 31 DECEMBER 2023

15. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Unlisted
investments
£
MARKET VALUE
Additions 400,000
Revaluations 17,515
At 31 December 2023 417,515
NET BOOK VALUE
At 31 December 2023 417,515
At 31 December 2022 -

The above investment portfolio is managed by Tribe Impact Capital LLP, who manage portfolios based on positive, sustainable impact. All income raised from investments is used for furthering the NFSH Charitable Trust Limited's charitable purpose and for public benefit, with no personal benefit for any Trustees.

Cost or valuation at 31 December 2023 is represented by:

Valuation in 2023
Cost
16.
STOCKS
Stocks
17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Gift Aid debtor
Prepayments		 Unlisted
investments
£
17,515
400,000
417,515
2023
2022
£
£
-
1,716
2023
2022
£
£
1,892
1,371
1,810
309
5,583
7,521
9,285
9,201

continued...

Page 20

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements - continued

for the year ended 31 DECEMBER 2023

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Amounts owed to group undertakings
Other creditors
Deferred income
Deferred income		 2023
£
1,840
3,898
4,243
11,451
21,432		 2023
£
1,840
3,898
4,243
11,451
21,432		 2022
£
1,329
4,206
5,466
14,050
25,051
2023 2022
£ £
Deferred income at 1 January 2023 14,050 16,420
Resources deferred during the year 11,450 14,050
Amounts released from prior year (14,050) (16,420)
Deferred income at 31 December 2023 11,450 14,450

Deferred income relates to income received in the year specifically relating to performance conditions to be met in the following year.

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are
Unrestricted funds
General fund
TOTAL FUNDS		 as follows:
Incoming
resources
£
532,309
532,309		 At 1.1.23
£
353,252
353,252
Resources
expended
£
(144,815)
(144,815)		 Net
movement
At
in funds
31.12.23
£
£
405,009
758,261
405,009
758,261
Gains and
Movement
losses
in funds
£
£
17,515
405,009
17,515
405,009

continued...

Page 21

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements - continued for the year ended 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.22
£
372,715
372,715		 Net
movement
in funds
£
(19,463)
(19,463)		 At
31.12.22
£
353,252
353,252

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
104,777
104,777		 Resources
Movement
expended
in funds
£
£
(124,240)
(19,463)
(124,240)
(19,463)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.22
£
372,715
372,715		 Net
movement
in funds
£
385,546
385,546		 At
31.12.23
£
758,261
758,261

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
637,086
637,086		 Resources
expended
£
(269,055)
(269,055)		 Gains and
Movement
losses
in funds
£
£
17,515
385,546
17,515
385,546

continued...

Page 22

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Notes to the Financial Statements - continued

for the year ended 31 DECEMBER 2023

20. RELATED PARTY DISCLOSURES

The NFSH Charitable Trust Limited has a linked charity, The Harry Edwards (NFSH) Trust.

The Harry Edwards (NFSH) Trust provides grants and bursaries for members of the NFSH Charitable Trust Limited who are facing financial difficulties and would otherwise be unable to meet the cost of their membership. During the year, the Harry Edwards (NFSH) Trust provided membership bursaries totalling £308 (2022: £340), which is recognised as income within The NFSH Charitable Trust Limited.

As The Harry Edwards (NFSH) Trust is an unincorporated entity with turnover below £5,000, there is no requirement to file consolidated accounts.

Page 23

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Detailed Statement of Financial Activities

for the year ended 31 DECEMBER 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Other trading activities
Other income
Investment income
Deposit account interest
Charitable activities
Memberships subscriptions
Total incoming resources
EXPENDITURE
Support costs
General running costs
Wages
Payroll costs
Pensions
Premises costs
Insurance
Light and heat
Advertising costs
Travel and hotels
Sundries
Panel costs
Bank charges
Information technology
Office costs
Telephone costs
Computer costs
Photocopier rental cost
Computer software amortisation
Computer equipment depreciation		 2023
£
449,719
7,781
457,500
4,869
5,618
64,322
532,309
52,119
104
1,208
31,888
7,714
1,117
2,481
517
3,246
56
2,436
102,886
12,826
1,663
6,808
2,168
769
246
24,480		 2022
£
29,423
6,738
36,161
4,649
730
63,237
104,777
50,965
114
1,034
26,751
7,793
1,545
844
417
2,553
141
2,432
94,589
9,194
1,812
6,121
1,452
4,574
267
23,420

This page does not form part of the statutory financial statements

Page 24

THE NFSH CHARITABLE TRUST LIMITED T/A THE HEALING TRUST

Detailed Statement of Financial Activities

for the year ended 31 DECEMBER 2023

Information technology
Charitable costs
Meetings and exhibitions
Subscriptions and donations
Newsletter costs
Governance costs
Accountancy fees
Professional fees
Total resources expended
Net income/(expenditure) before gains and
losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments
Net income/(expenditure)		 2023
£
894
2,530
-
3,424
2,952
11,073
14,025
144,815
387,494
17,515
405,009		 2022
£
1,321
1,820
150
3,291
2,280
660
2,940
124,240
(19,463)
-
(19,463)

This page does not form part of the statutory financial statements

Page 25