REGISTERED COMPANY NUMBER: 03752333 (England and Wales) REGISTEREO CHARITh NUMBER: 1094702 Re ort ofthe Trustees and Unaudlted Flnanclal Statements for the Year Ended 31 December 2024 for THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Elsby & Co Isywelll Ltd Chartered Accountants 155 Wellingborough Road Rushden Northamptonshire NNIO 9T8
THE NFSH CHARITABLETRUST LIMITED A THE HEALING TRUST Contents of the Flnanclal Statements for the ear ended 31 DECEMBER 2024 Page Report of theTrustees Independent Examlner's Report io Statement of Flnanclal Artlvltles li Balance Sheet 12 to 13 Nate$ to the Flnan¢lal Statements 14 to 23 Detalled Statement of Flnanclal Actlvltles 24 to 25
THE NFSH CHARrrABLE TRUST LIMITED A THE HEALING TRUST ort ofthe Trustees ear ended 31 DECEMBER 2024 for the The trustees who are also directors of the charity for the purposes of the Companies Act 21)06, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provision5 of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. Page I
THE NFSH CHARITABLE TRusf LIMITEO A THE HEALING TRUST ort ofthe Trustees ear ended 31 DECEMBER 2024 for the OBJECTIVES AND ACTIVITIES Oblectlves and alms The charity is established to promote PLtbllc 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 healin8. While in recent years, the charity has seen a decline in memberships, the number of members however has stabilised to around 1,000. The medium-term aim is to continue to build new memberships, to ensure that the charity can meet its objective5. To achieve this. the charity continue5 to promote itself online to reach a wider audience and to invest in improvements to its training and external communications: New online healer training pilot project (to be assessed in early 20251 will become mainstream as the former training scheme is phased out by the end of 2024. Online and face to face healer training are fully accredited by UK Healers and comply with their new quality standards. Both trainings are now 200 hour rather than l¢XI hour. The online trainin8 Potentially reaches a greater number of students so increasing student and healer numbers. These increases should show in future years. A new pilot Tutor training programme was launched during 2024 and will run annually. By increa5in8 the number of tutors, the charity will be in a better position to enrol new student members, thereby enabling it to expand its membershSp and meet future demand for training as a new external communlcations strategy Ss rolled out in 2025. The charity has increased the frequency of Its newsletter whlch sent out to members and the public who have opted in to receive them. We trialled 3 new format which ha5 proved popular. A revlsed booklet to explaln energy healing and its benefits to the public has been publlshed for d15tributlon at healing centres. Thls will a150 be translated into Welsh in the followin8 year. A revised booklet to promote the enrolment of new student members Is planned for release In the Sprlng of the followin8 year. It was decided to sS8nlflcantly increase the charity's external communlcations at the start of 2025 and a new member of staff speciallsing In publlc relations, marketing and 50clal media was en8a8ed to start early In 2025. The charity's Facebook page continues to draw more followers, and several healing centres and regions run their own Facebook pages which successfully attract new clients, Other social media platforms will be researched and utili5ed moving forward using vldeo content. The web51te, newly launched in the previous year is increa5in8ly attracting new visitors, who can access everything they need to learn about healing, Wlth information on where to find a local healer or healing centre. The members, section provides increasing resources with information on healing, the charity's policies, training, CPD, events calendar, code of conduct and subscription renewals System. The scope of member resources wlll expand during 2025. The charity's new logo was officially launched durin8 the year, and all Ilterature and online marketlng is bein8 continually updated to Use only the new logo so that branding Is consistent across all media. In addition to the above. the charity continues to undertake activities to promote splritual healln8 to the publlc and mprove public health throu8h acce55 to spiritual healing- Healers re815tered on the website send distant healing when requested by members of the public The Healin8 Trust Facebook page weekly distant healin8 sessions where healing is sent out to all members of the public who have requested it Providing healing at the 16 regional healing centres where healers continue to offer regular face to face healing sessions for the public Promotin8 research - Healer members partlclpating in research by Northampton University a5 to the efficacy of non contact Idistantl healln8 on participating members of the public Raising awareness of matters associated with healing via the members, newsletter, website, exhlbltions. voluntary healin8 centres and social media presence Providing free introductory workshops for those interested in trainin8 as a healer CPD events for members of the public as well as members of the organisation Participating in Healing Awareness Week each year with related talks open to members of the public Increasing awareness and credibility of Spiritual Healing by offering healing at exhibitions and other health and healing events Page 2
THE NFSH CHARITA8LE TRusf LIMITED A THE HEALING TRUST Re ort of the Trustees ear ended 31 DECEMBER 2024 for the 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: Educating and training Healers. continually reviewing and improvin8 the Healing Trust's tralning programme and delivery of training courses so as to maintain the highest standard of training and healing. This has resulted in developing a fully accredited (UK Healers) pilot project online Healer Trainin8 program which complies with their new quality standards. This allows healer training to reach anyone regardle55 of their geographical location Providing support groups for Healers and Students through structured mentoring and regular practlce meetings both face to face and online Encouraging a culture of collaboration and the sharing of knowledge through CPD events Tutors are working to new National Occupational Standards. Regular monthly meetings for trainee and qualified tutors to support, teach, update and disseminate training Information as well as a forum for receSving feedback Ensure representation and co-operatlon wlth Government approved bodies responsible for the development of Voluntary Self-Regulation for Healin8. i.e., UK Healers, our Healing Professional Specific Body IPS81 who are the verifying body for Healing on the Complementary and Natural Healthcare Council ICNHCI Contributing to the Regulatlon work of UK Healers, as a key member of their organisation The Trustees have pald due regard to 8uidance issued by the Charity Commisslon Sn decidlng what actlvities the charlty should undertake, and when considerin8 what constitutes publlc benefit. Page 3
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST ort of the Trustees ear ended 31 DECEMBER 2024 for the ACHIEVEMENT AND PERFORMANCE Charitable artlvStles 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 2024. there were several indicators that the charity has been achieving its objectlves regarding the promotion of public health and Spiritual healing.. Healers have continued to offer free distant healing and remote support to those in need who have requested healin8 through the charity's website The charity's 16 healing centres throughout the UK offer face to face physical healing to the wider public via drop-ln sessions. Thls Is offered free of charge to members of the public, althoLtgh a voluntary donatlon towards the running of our charity is welcomed. Donations by the public for healing In 2024 Increased to £29k lup by £6.Sk or 29% on 20221, indicating that there is an increasing awareness and demand by the public for spiritual healin8 A weekly 'Facebook live, dlstènt healin8 meditation, held by the charity's Chair, Jennifer Jones, has offered a further opportunlty for members, and non.members alike, to request distant healing for those in need. The Facebook page now has 9,000 followers The Healin8 Trust participated in Healing Awareness Week from 1st to 8th May 2024, during whlch events by members were offered, There were postings onto the facebook pages and the 'Facebook Live, distant healing meditatlon. The new website ha5 generated a lot of new enqulrles about the healer trainln8. The charlty Is offering free Introductory courses for those Snterested. ExSstlng tutors are being encouraged to offer sufflcient 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 a5 well as face to face and fully embrace the new 200 hour training. Retrainin8 of established tutors lif needed) is ongoing through monthly trainee tutor I tutor meetings, With the investment In the charity's webslte and offlce systems, the expectation is that further Improvements In membership numbers will be evident in the next 2-3 years, time. Thls time frame assumes that the website continues to generate interest from the publlc. It is antlclpated that The Healing Trust will a150 draw a cohort of new members from engaging in healing activities on other online platform5 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 reglonal centres, healers and the engagement of the publSc 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 hi8h standards of teaching. It IS 8ratefully acknowledged that trustees themselves past and present have made a substantial contribution to the day to day running, monitoring. improvement, le8al compliance and future planning of The Healing Trust. Page 4
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Re ort of the Trustees ear ended 31 DECEMBER 2024 for the FINANCIAL REVIEW Flnanclal positlon The results for the year are shown on pages 11-12. 2024 generated a net loss of £40,83312023: net surplus £405.0091,' which Include5 £7,517 of unrealised gains on investments (net loss without unrealised gain.. £48,3501. 2024 saw Stable level of membership numbers and also membership income12024: £59,278, 2023.. £64,322). The drop in the value is dLre to a significant number of older members movin8 into a lower subscription band for 30 years service or being age 75 years or more. As a membership organisation, membership income is one of the most Slgnificant income streams for the charity. As Oiltlined above. the extensive work undertaken over the past year on the new website. social media presence and online trainSng 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) recelved during 2023 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 3 portfolio run for positive, sustainable impact. This Investment has been initially recognised at cost, and is revalued annually to ensure the investment is being held at fair value withln the balance sheet. It has yielded a gain of £7,517 for 202412023: £17,517). The charity has made a more efficient use of available cash flow, investin8 3 amounts of £81,500 into 3 fixed rate deposit accounts in other banks to yield a hi8her rate of interest and increased FSCS protectlon. These will come to maturity mid 2025, DonatSons have Increased against the previous year12024.. £42,758. 2023.. £33,377). Donations are vital to the charity and the trustees are most thankful for all voluntary contrlbutions received. Donations received at reglonal centres accounted for 72% of total donallons received. The charity continues to make use of the Government's GSft Aid scheme and durlng 2024 3150 made use of the Glft Ald Small Donatlon Scheme IGASDSI to recelve 81ft ald rellef on small donatlons received at regional centres. Glft Ald Is a vltal stream of income for the charlty and work contlnues to promote its Use amongst our members and donors. The charity's costs have risen 12024.. £166,924, 2023.. £144,815). Wages costs have increased due to the Increased administrative workload in the office for the newly launched website and GDPR as processes in the healing centres and with tutors have been centrallsed in the office for increased data security. Thls has necessitated an increase in office space1£4,800p.a.l. In Professional fees, GDPR consultancy c05t £3,172, A 70th Anniversary celebration wa5 held at The Harry Edwards Trust made a Ios5 of £5,555 lin advert15ing costs). A new cohort of trustees who have been active in familiarisin8 themselves with adminlstration (including meetings for GDPRI and finance processes wlthln the office has necessitated a number of vlsits. and details of trustee expenses can be found In note 7 of the accounts. Total donations received by regional centres throughout the year have covered all attributable costs of the correspondin8 centres, The charity continues to look for c05t savlngs where posslble but has had to invest to grow such as investment In the new online trainin8 for healers as well as for tutors. The strate8y 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. Page 5
THE NFSH CHARITABLETRUST LIMED A THE HEALING TRUST Re ort of the Tru5tee5 ear ended 31 DECEMBER 2024 for the FINANCIAL REVIEW Reserve5 pollcy At the balance sheet date. the charity had free reserves of £292.39612023.' £340,746). In addition to free reserve5, the company has funds of £425.03212023.. £417,515) 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 reserve5 to protect against future income reduction. resulting from uncertain membership numbers and unpredictable donations and legacies. Thi5 15 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 bein8 Utilised to move the charity forward,. the new website and upgrade of the office systems, 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 throu8h receiving healing, as well as an increase In memberships and therefore Income. The charity will contlnue to update its strategic and financial plannin8 as well as risk mana8ement for the changes In technology, legal requlrements and professional standards and use reseNes as necessary to implement these. Reserves will also be required to support the charity through a period of change. The charity acknowled8es the slgnificant Increase in reserves whSch requires careful conslderatlon of how best to utillse them. At all times the promotion of public health and ralsin8 awareness of spiritual healin8 to benefit publlc health will be at the heart of the charity's activitles. Page 6
THE NFSH CHARITABLE TRusf LIMITED A THE HEALING TRUST Re ort of the Trustees ear ended 31 DECEMBER 2024 for the STRucfuRE, GOVERNANCE AND MANAGEMENT Strurture, Governance and Management The organisation is a charitable company limited by guarantee, incorporated on 14 April 1999 and registered 35 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. Trustees (also company directors) are appolnted by existin8 Board members, subject to approval at the AGM. New trustees receive an induction includin8 a copy of the governlng document, most recent accounts, Charitv Commission guidance, and relevant policies. Flve new trustees were appointed in 2024 and two resigned. A new Chair was appointed In September 2024. The Board meets monthly to oversee governance and strategic decisions. Operatlonal responsibilities may be delegated to sub.committees or pald staff. A new Governance and Ethics Committee was formed In 2024 to deal with all concerns, complaints, grievances Issulng withln or without the charity, to conduct pollcy reviews and updates, review agreements, to monitor diversity and incluslon. The Board has revSewed key r15ks and malntalns a risk re8lSter and a rlsk management action plan to mltlgate operatlonal, flnancial, and reputatlons risks. The Board has updated and Issued a revlsed Code of Conduct durlng the year and 15 currently updating Its healSn8 centre manuals and internal policles. The Board has reviewed the charity's compllance with General Data Protectlon Regulation and has implemented changes in the way its healing centres handle their processes of recording and storing client data to assure data privacy. compliance and mitigate risk. GDPR, as it affect5 all operational are35 of the charity, are under review and an external consultant is contlnuing to assist the Board in thls respect, A number of volunteer Teoms have been created with responsibility for training Ihealers and tutors), administration. research, communication5, events and 8overnance and ethics, Each Includes representation from trustees who report to the Board of Trustees. Page 7
THE NFSH CHARITABLETRUST LIMITED A THE HEALING TRUST Re ort of the Trustees for the ear ended 31 DECEMBER 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Recrultment and appointment of new trustees The Director5 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 the NFSH. The Council of the Charity is 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, Councll, and any Office staff or other Officials of the organisation as deemed necessary. Every endeavour should be made to recruit from within the or8anisation. 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 or8anisation or look beyond the organisation. In order to be appointed a trustee if recruited from outside the or8anisatiOD, the appointee will become an Honorary member, and will seNe for an a8reed term, not less than slx months and not more than three years, extendable by ne8Otiation and agreed by the majority of trustees and endorsed by Council. New trustees, exceptlng Honorary Members, to be appolnted for a term of three years, with the optlon of renewln8 for a further three years if the majority of the 8oard agrees. Followin8 thls second term, a trustee may be elected for final three years if invited to do so by the Board and the Council. The Board shall have flexlbility to determlne the exact nature of the role, experience and skills needed for each vacancy, whlch may change from time to tlme In order to effectively 8overn the organlsatlon, Inductlon and tralnlng of new trustees A5 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 8oard Meetin8 as an observer and meet and speak wlth at least some of the Charity's employed staff before acceptin8 and taking on trustee responsibilitie5. New trustees routlnely receive copies of the latest accounts; Memorandum and Articles of Assoclatlon; Standing Orders and the Charity Commission booklet The Essentlal Trustee before taking up a trustee role. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 03752333 (England and Wale51 Re8lstered Charlty number 1094702 Reglstered offlce 39 Waterside House Nene Business Centre Station Road lrthlingborough Northampton5hire NN9 SQF Page 8
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Re ort of the Trustees ear ended 31 DECEMBER 2024 for the Trustees J Barley Iresigned 19.2.241 V Chiltonsmith (resigned 28.3.241 J M Jones Lsumner A G Grunwald H Parker lappointed 18.3.241 L Samara (appointed 18.3.241 A Stewart lappointed 18.3.241 M Coates lappointed 18.11.241 J C Mitting (appointed 19.11.241 Independent Examlner Carl Elsby ACA Elsby & Co Isywelll Ltd Chartered Accountants 155 Wellingborough Road Ru5hden Northamptonshlre NNIO 9TB Approved by order of the board of trustees on and 518ned on its behalf by: A Stewart. Trustee Page 9
Inde Èndent Examiner's Re ort to the Trustees of The NFSH Charitable Trust Limited Independent examlner's report to the trustees of The NFSH Charitable Trust Limited ('the Company'l I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibilitles and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companie5 Act 20061'the 2006 Act'l. 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 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145ISI Ibl of the 2011 Act. Independent examlner'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: accountin8 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 the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts 8ive a true and fair view whlch Is not a matter Considered as part of an independent examinatlon,. or 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 Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection with the examination to which attentlon should be drawn In thls 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 Isywelll Ltd Chartered Accountant5 155 Wellin8borough Road Rushden Northamptonshlre NNIO 9TB Date:............ Page 10
THE NFSH CHARITABLETRUST LIMITED A THE HEALING TRUST Statement of Flnancial Actlvitles for the ear ended 31 DECEMBER 2024 2024 Unrestricted fund 2023 Total funds Note5 INCOME AND ENDOWMENTS FROM Donations and legacies 47,262 457,500 Charltable artlvltles Memberships 59,278 64,322 Other trading activities Investment income 4,589 7,445 4,869 5,618 Total 118.574 532,309 EXPENDITURE ON Charltable artlvltles Membership5 5.271 5,739 Other 161,653 139,076 Total 166,924 144,815 Net 8alns on Investments 7,517 17,515 NEf INCOME/IEXPENDITURE) 140,8331 405,009 RECONCILIATION OF FUNDS Total funds brought forward 758,261 353.252 TOTAL FUNDS CARRIED FORWARD 717,428 758,261 The notes form part of these financial statements Page 11
THE NFSH CHARITABLETRUST LIMITED A THE HEALING TRUST Balance Sheet 31 DECEMBER Z024 2024 2023 Total funds Unrestricted fund Notes FIXED ASSErs Intangible assets Tangible assets Investments io li 12 12,476 2,008 425,032 14,604 334 417,515 439.516 432.453 CURRENT ASSErs Debtors Cash at bank and in hand 13 14,040 287.293 9.285 337,955 301,333 347,240 CREDITORS Amounts falling due within one year 14 123,4211 121,4321 CURRENT ASSETS 277,912 325,808 TOTAL ASSETS LESS CURRENT LIABILITIES 717,428 758,261 NET A5SErs 717,428 758,261 FUNDS Unrestricted funds 15 717,428 758,261 TOTAL FUNDS 717,428 758,261 The charitable company is entitled to exemption from audit under Section 477 of the Companles Act 2006 for the year ended 31 December 2024. The members have not requlred the company to obtain an audit of its financlal statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responslbllities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. Ibl The notes form part of these financial statements Page 12 continued...
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Balance Sheet - continued 31 DECEMBER 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies Subject to the small companies regime. The finan ial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by.. A Stewart- Trustee The note5 form part of these financial statements Page 13
THE NFSH CHARrrABLE TRUST LIMITED A THE HEALING TRUST Notes to the Financial Statements for the ear ended 31 DECEMBER 2024 ACCOUNTING POLICIES Basls of preparlng the financlal 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 IFRS 1021 'Accountin8 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 IFRS 1021 (effective l January 20191,, 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 whSch 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 èny 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. Donatlons and Glfts: Donations are recognised on receipt. Income tax recoverable In relatlon to donatlon5 received under Glft Ald or deeds of covenant is recognised at the time of the donation, Legacies are reco8nised on receipt or otherwise if the the trust has been notified of an impendin8 distribution, the amount is known, and receipt Is expected, Grants Recelvable: Revenue 8rants are credited as incoming resources when they are receivable provSded for conditions for receipt have been complied with, unless they relate to specific future periods, In which case they are deferred, Expendlture Llabilities are recognised as expenditure as soon as there 15 a le8al or constructive obligation commltting the charity to that expenditure, it is probable that a transfer of economlc benefits will be required in settlement and the amount of the obligatlon can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that a88regate all cost related to the category. Where cost5 cannot be directly attributed to partlcular headin85 they have been allocated to activitles on a basis con515tent wlth the use of resources. Intanglble flxed assets other than 8oodw511 Intangible assets acquired separately from an entity are recognised at C05t and are subsequently measured at C05t less accumulated amortisation and accumulated impalrment1055es. Amortlsation is reco8nised $0 as to write off the cost or valuation of assets le5S their residual values over their useful lives on the followlng bases.. Website design and development 5 years Tanglble flxed 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 Taxatlon The charity is exempt from corporation tax on its charitable activities. Page 14 continued...
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Notes to the Flnanclal Statements - contlnued for the ear ended 310ECEMBER 2024 ACCOUNTING POLICIES- contlnued Fund accountln8 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 charitv. 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 financlal statements. Penslon costs and other post.retlrement beneflts The charitable company operates a defined contribution penslon scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the perlod to which they relate. Flnanclal Instruments A financial asset or a financial Ilability Is reco8nlsed only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are Inltlally recogni5ed at the amount recelvable or payable includin8 any related transaction costs, Current assets and current liabilitles are subsequently measured at the cash or other conslderatlon expected to be pald or recelved and not discounted. Debt instruments are subsequently measured at amort15ed cost. Other financial instruments are subsequently measured at fair value, with any changes reco8nised in the statement of financial activities, with the exception of hedgln8 Instrument5 in a designated hedgin8 relationship, Flnanclal 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 15 objective evidence of impairment, an impairment loss is reco8nised under the appropriate heading in the statement of financial activities in which the Initial gain wa5 recognlsed. For all equlty 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. 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 carryin8 amount would have been had the impairment not previously been recognised. Cash and cash equlvalents 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 basi5 of accounting in preparing the financial statements. Page 15 continued...
THE NFSH CHARITABLETRUST LIMITED A THE HEALING TRUST Note5 to the Flnanclal Statements - continued for the ear ended 31 DECEMBER 2024 CRITICALACCOUNTING JUDGEMENTS AND KEYSOURCES 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. OTHÉR TRADING AcfiviTIES 2024 2023 Other income 4,589 4,869 INVESTMÉNT INCOME 2024 2023 Deposit account interest 7,445 5.618 SUPPORT COSTS General runnln8 costs Informatlon technoloBv Charitable costs Governance costs Totals Other resources expended Memberships 124,748 5,271 25,730 3,795 7,380 161,653 5,271 130.019 25,730 3.795 7,380 166,924 Support Costs, Included in the above, are as follows: 2024 2023 Other resource5 expended Total activities Total activities Memberships Wages Payroll costs Pensions Premises costs Insurance Light and heat Advertisin8 Costs Travel and hotels Sundries Panel cost5 Bank char8es Office costs Telephone costs 67.633 137 1,247 36,224 2,290 67.633 137 1,247 36,224 7,561 52,119 104 1,208 31,888 7,714 1,117 2,481 S17 3,246 56 2,436 12,826 1,663 5,271 7,268 3,438 4,533 63 1,915 7.944 1,045 7,268 3.438 4,533 63 1.915 7.944 1,045 Carried forward 133,737 5,271 139,008 117.375 Page 16 continued.-.
THE NFSH CHARITABLETRUST LIMITED A THE HEALING TRUST Notes to the Financlal Statements- contlnued for the ear ended 31 DECEMBER 2024 SUPPORT COSTS- continued 2024 2023 Other resources expended Total activities Total activities Memberships Brought fOard Computer costs Photocopier rental cost Computer software amortisation Computer equipment depreciation Meetings and exhibitions Subscriptions and donations Accountancy fees Professional fees 133,737 9,750 2,557 3,311 1,123 548 3,247 3,360 4,020 5,271 139,008 9,750 2,557 3,311 1,123 548 3,247 3,360 4.020 117,375 6.808 2,168 769 246 894 2,530 2,952 11,073 161,653 5,271 166,924 144.815 NET INCOMEIIEXPENDITURE) Net Incomellexpenditurel is stated after charglng/{creditSngl: 2024 2023 Depreclatlon - owned assets Computer software amortlsatlon 1,123 3,311 246 769 TRUSTEES, REMUNERATION AND BENÉFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expenses There were travel expenses totalling £2.61612023: £1,1091 relating to 3 trustee12023.' 1 trustees) for the year ended 31 December 2024. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other penslon costs 67.633 137 1,247 52,119 104 1,208 69,017 53,431 The avera8e monthly number of employees during the year was as follows.. 2024 2023 Support costs Page 17 continued...
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Notes to the Flnanclal Statements - eontinued for the ear ended 31 DECEMBER 2024 STAFF COSTS- continued No employee5 received emoluments in excess of£60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIE5 Unrestricted fund INCOME AND ENDOWMENTS FROM Donations and legacies 457,500 Charltable actlvltles Memberships 64,322 Other tradSng actlvities Investment income 4,869 5,618 Total 532,309 EXPENDITURE ON CharStable actlvltles Memberships 5,739 Other 139.076 Total 144,815 Net 8ains on investments 17,515 NET INCOME 405,009 RECONCILIATION OF FUNDS Total funds brought forward 353,252 TOTAL FUNDS CARRIEO FORWARD 758,261 Page 18 continued...
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Notes to the Flnanclal Statements - continued for the ear ended 31 DECEMBER 2024 io. INTANGIBLE FIXED ASSErs Computer software COST At l January 2024 Additions 45,923 1.183 At 31 December 2024 47,106 AMORTISATION At l January 2024 Char8e for year 31,319 3,311 At 31 December 2024 34.630 NET BOOK VALUE At 31 December 2024 12,476 At 31 December 2023 14,604 ii. TANGIBLE FIXED ASSFf5 Computer equipment C05T At l January 2024 Additions 1,232 2,797 At 31 December 2024 4,029 DEPRECIATION At l January 2024 Charge for year 898 1,123 At 31 December 2024 2,021 NET BOOK VALUE At 31 December 2024 2,008 At 31 December 2023 334 Page 19 continued...
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Notes to the Financial Statements - contlnued for the ear ended 31 DECEMBER 2024 12. FIXED Ass INVESTMENTS Unlisted investments MARKETVALUE At l January 2024 Revaluations 417,SlS 7,517 At 31 December 2024 425,032 NET BOOK VALUE At 31 December 2024 425,032 At 31 December 2023 417,515 The above investment portfolio is managed by Tribe Impact Cap5tal LLP, who manage portfolios based on positive, sustainable impact. All income raised from Investments is used for furtherlng the NFSH Charitable Trust Limited's charitable purpose and for public beneflt, with no personal benefit for any Trustee5, Cost or valuatlon at 31 Oecember 2024 is represented by: Unllsted Investments Valuatlon In 2023 Valuatlon in 2024 Cost 17,515 7,517 400,000 425,032 13. DEBTORS 2024 2023 Amounts falllng due within one year.. Other debtors Gift Aid debtor Prepayments 2,674 1,318 9,993 1,892 1,810 5,583 13,985 9.285 Amounts falling due after more than one year: Trade debtors ss Aggregate amounts 14,040 9,285 Page 20 continued...
THE NFSH CHARITABLE TRUST LIMffED A THE HEALING TRUST Notes to the Flnanclal Statements - contlnued for the ear ended 31 DECEMBER 2024 14. CREOITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Amounts owed to group undertakin85 Other creditors Deferred income 727 3,766 5,651 13,277 1.840 3,898 4,243 11.451 23,421 21,432 Deferred Income 2024 2023 Deferred income at l January 2024 Resources deferred durin8 the year Amounts released from prior year 11,450 13,277 111.4501 14.050 11,451 114,0501 Oeferred Income at 31 December 2024 13,277 11,451 Deferred Income relates to Income received Sn the year speciflcally relating to performance conditions to be met in the followSng year. 15. MOVEMENT IN FUN05 Net movement In funds At 31.12.24 At 1.1.24 Unrestrlcted funds General fund 758,261 140.8331 717,428 TOTAL FUNDS 758,261 140,8331 717,428 Net movement In funds, included In the above ère as follow5: Incomln8 resources Resources expended GaSnsand losses Movement In funds Unrestrlrted funds General fund 118,574 1166,9241 7,517 140,8331 TOTAL FUNDS 118,574 {166,9241 7,517 140.8331 Page 21 continued...
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Notes to the Flnantial Statements- contlnued for the Èar ended 31 DECEMBER 2024 15. MOVEMENT IN FUNDS- ¢ontlnued Comparatlves for movement In funds Net movement in funds At 31.12.23 At 1.1.23 Unrestrlcted funds General fund 353,252 405,009 758,261 TOTAL FUNDS 353,252 405,009 758,261 Comparative net movement in funds, Included In the above are as follows.. Incomlng resources Resources expended Galns and losse5 Movement In funds Unrestrlrted funds General fund 532,309 1144.8151 17,515 405,009 TOTAL FUNDS 532,309 1144.8151 17,515 405.009 A current year 12 months and prior year 12 months combined position Ss as follows.. Net movement in funds At 31.12.24 At 1.1.23 Unrestrlrted funds General fund 353,252 364,176 717,428 TOTAL FUNDS 353,252 364.176 717,428 A current year 12 months and prior year 12 months combined net movement in funds, included In the above are as follows.. Incomin8 resources Resources expended Gains and losses Movement n funds Unrestrlcted funds General fund 650,883 1311.7391 25,032 364.176 TOTAL FUNDS 650,883 1311,7391 25,032 364,176 Page 22 continued...
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Notes to the Flnancial Statements- continued for the ear ended 31 DECEMBER 2024 16. RELATED PARTI DISCLOSURES The NFSH Charitable Trust Limited has a linked charity, The Harry Edward5 INFSHI Trust. The Harry Edwards INFSHI Trust provides grants and bursaries for members of the NFSH Charitable Trust Limited who are facing financial difficultie5 and would otherwise be unable to meet the cost of their membership. During the year. the Harry Edwards INFSHI Trust provided membership bursaries totalling £132 12023.. £3081, which is recognised as income within The NFSH Charitable Trust Limited, As The Harry Edwards INFSHI 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 A THE HEALING TRUST Detailed Statement of Flnanclal Activitles for the ear ended 31 DECEMBER 2024 2024 2023 INCOME AND ENDOWMENTS Oonatlons and lesacles Donations Gift aid 42,758 4,S04 449,719 7,781 47,262 457.500 Other tradlng actlvltles Other Income 4,589 4,869 Investment Income Deposit account interest 7,445 5,618 Charltable actlvltles Memberships subscriptions 59,278 64,322 Total Incomlng resources 118,574 532,309 EXPENDITURE Support COSt5 General runnlng costs Wages Payroll costs Pensions Premises costs Insurance Li8ht and heat Advertising costs Travel and hotels Sundries Panel costs Bank charges 67,633 137 1,247 36,224 7,561 52,119 104 1,208 31,888 7,714 1,117 2,481 517 3,246 56 2,436 7,268 3,438 4.533 63 1,915 130,019 102,886 Informatlon technology Office costs Telephone costs Computer costs Photocopier rental cost Computer software amortisation Computer equipment depreciation 7,944 1,045 9,750 2,557 3.311 1,123 12,826 1,663 6,808 2.168 769 246 25,730 24.480 This page does not form part of the statutory financial Statements Page 24
THE NFSH CHARITABLE TRUST LIMITED A THE HEALING TRUST Detalled Statement of Flnanclal Artivities for the ear ended 31 DECEMBER 2024 2024 2023 Informatlon technolo8Y Charltable costs Meeting5 and exhibitions Subscriptions and donations 548 3,247 894 2,530 3,795 3,424 Governance costs Accountancy fees Professional fees 3,360 4,020 2,952 11,073 7,380 14,025 Total resources expended 166,924 144.815 Net (expendlturelllncome before galns and 10sse5 148.3501 387,494 Reallsed recognlsed galns and losses Realised gains/llossesl on flxed asset investments 7,517 17,515 Net lexpendlturel/ln¢ome 140.8331 405,009 This pa8e does not form part of the statutory financial statements Page 25