THE LONDON NOAH TRUST
FINANCIAL STATEMENTS 31 MARCH 2023
Charity Number 1097319
THE LONDON NOAH TRUST
INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
Members of the Board and Professional Advisers Page 1
Trustees Annual Report Page 2
Report of the Independent Examiner Page 4
Statement of Financial Activities Page 6
Balance Sheet Page 7
Notes to the Financial Statements
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THE LONDON NOAH TRUST
MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS
Principal Address
35 Hamilton Terrace London NW8 9RG
Board of Trustees
Michael Sookias Philomena Freeman
Bankers
Arbuthnot Latham Royex House Aldermanbury Square London EC2V 7NU
Independent Examiners
Shaw Gibbs (Audit) Limited Wey Court West Union Road Farnham Surrey GUS 7PT
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THE LONDON NOAH TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023
The trustees have pleasure in presenting their report and the financial statements of the charity for the period ended 31 March 2023.
Legal Status
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The London Noah Trust was created by a Declaration of Trust dated 18th February 2003.
The London Noah Trust is a Registered Charity, charity number 1097319.
Trustees Appointments
Trustees are appointed by a resolution of the trustees passed at a special meeting.
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Objectives and Activities/Achievements and Performance/Public Benefit The trustees hold the trust fund and income on trust to apply it for general Christian charitable purposes in Europe, Asia, Africa and America. . The trustees have taken into account the Charity Commission’s general guidance on public benefit when reviewing and planning our activities.
During the year the Trust achieved the following:
a) Supported Christian Ministers working worldwide.
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b) Supported the education of children through Compassion. c) Supporting UCB
Furthermore we made a number of small donations to other organisations.
We plan to continue with the above commitments in 2023/2024, funds permitting.
Reserves
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Reserves are maintained at a low level, the regular charitable expenditure is funded through the regular monthly donations received.
Financial Review
The financial activities and position of the trust are as shown in the annexed accounts.
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General
The financial statements comply with current statutory requirements, the requirements of the Statement of Recommended Practice and with the charity's governing document.
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THE LONDON NOAH TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023
Trustees The Trustees who served the charity during. the period.were’ as follows:
Mr Michael Sookias Ms.Philomena Freeman
Trustees Responsibilities Under the’ Charities Act 2011, the Trustees are required to prepared a-statement of accounts for each financial year which gives a true and fair view of the state of the.affairs ofthe charity at the-endof the financial year and of the incoming resources[Ih][the][ year.][In][prepacing'the] statement, ihe Trustees are required to: ‘
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‘a) Select suitable accounting policies and apply them consistently b) Make judgements that are reasonable and prudent c) State whether the policies and standards have been followed, subjectsto any: material departures disclosed and explained in the statement.of accounts
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¢) Prepare the financial statements on the going concern basis unless it is inappropriate to presume thatthe charity will continue its operations
The Trusteés are responsible for keeping proper accounting récords'which disclose with reasonable accuracy the financial position of the charity ai any time, and enable the Trustees to ensure that any statement of account preparéd by'them compliés with regulations. under Section 132(1) of the Chatities Aci 2011. They are'also reasonable for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and détéction of fraud and other irregularities.
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Signed on behalf of the trustees
+ We
Trustee Philomena Freeman
Approved:by the Trustees on: a a 4
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THE LONDON NOAH TRUST
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF THE LONDON NOAH TRUST
| report on the financial statements for the period ended 31 March 2023 as set out on pages6 to 11.
The accounts have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
Respective responsibilities of trustees and independent examiners
The charity's trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act”).
It is my responsibility to:
- examine the accounts under section 130 of the 2011 Act; - to follow the procedures laid down in the General Directions given by the Charity Commissioner under section 145 of the 2011 Act; and - to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the accounts.
Independent Examiner's Statement In the course of my examination, no matter has come to our attention
- which gives me reasonable cause to believe that, in any material respect, the requirements:
(a) to keep accounting records in accordance with section 130 of the 2011 Act; and
(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the the 2011 Act have not been met; or
! requirements of the the 2011 Act have not been met; or - to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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THE LONDON NOAH TRUST
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF THE LONDON NOAH TRUST
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that | might state to the charity's Trustees those matters | am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the parent charity and the charity's Trustees as a body, for my work or for this report.
_ Mark Dickinson FCA Shaw Gibbs (Audit) Limited Wey Court West Union Road Farnham Surrey GU9 7PT
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Dated : 26 [SD |209
a
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THE LONDON NOAH TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
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| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| Notes | 2023 | 2023 | 2023 | 2022 | |
| £ | £ | £ | £ | ||
| Income and Endowments | |||||
| Voluntary income | 456,439 | 16,940 | 473,379 | 458,767 | |
| Income tax recoverable via gift aid | - | 3,216 | 3,216 | 1,070 | |
| Interest received | - | 1,752 | 1,752 | 445 | |
| 456,439 | 21,908 | 478,346 | 460,282 | ||
| Total Income | 2 | 456,439 | 21,908 | 478,346 | 460,282 |
| Expenditure | |||||
| Charitable activities | |||||
| Donations | 3 | 652,098 | 8,460 | 660,558 | 449,322 |
| Trustees expenses | 4 | - | 381 | 381 | 744 |
| Accountancy fees | § | _ | 780 | 780 | 780 |
| Bank charges | 1,728 | - | 1,728 | 1,148 | |
| Book keeping | - | 1,010 | 1,010 | 875 | |
| Sundry expenses | - | - | - | 7 | |
| 653,826 | 10,631 | 664,457 | 452,876 | ||
| Total Expenditure | 653,826 | 10,631 | 664,457 | 452,876 | |
| NetMovement in Funds fortheYear | (197,388) | 11,277 | (186,111) | 7,406 | |
| Funds as at 1 April 2022 | 430,371 | 3,572 | 433,943 | 426,537 | |
| Fundsasat31March2023 | 232,984 | 14,849 | 247,832 | 433,943 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
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All of the activities of the charity are classed as continuing.
The notes on pages 9 to 11 form part of these financial statements
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THE LONDON NOAH TRUST
BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023
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| 2023 | 2023 | 2022 | 2022 | |||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| CurrentAssets | ||||||
| Income tax recoverable | 3,601 | 1,775 | ||||
| Cash at Bank | 245,161 | 433,098 | ||||
| Total CurrentAssets | 6 | 248,762 | 434,873 | |||
| Current Liabilities | 7 | 930 | 930 | |||
| NetCurrentAssets | 247 ,832 | 433,943 | ||||
| NetAssets | 247,832 | 433,943 | ||||
| Restricted Funds | 8 | |||||
| Funding forArmenia Project | ||||||
| Balance as at 1 April 2022 | (9) | (9) | ||||
| Net Movement in Funds for the Year | - | - | ||||
| Balance as at 31 March 2023 | ee (:)5 | ee (:)9 |
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| Funding for Christian Ministers - E. | Hovsepian | |||||
| Balance as at 1 April2022 NetMovement in Funds fortheYear Balance as at31 March 2023 |
208,365 (121,964) |
86,401 | 253,347 (44,982) |
208,365 | ||
| , | ||||||
| Funding forSalt& Light | ||||||
| Balance as at 1 April2022 | 250 | 225 | ||||
| NetMovement in Funds fortheYear | - | 25 | ||||
| Balance as at31 March 2023 | 250 | 250 | ||||
| Funding forM Borji | ||||||
| Balance as at 1 April2022 | 221,765 | 170,778 | ||||
| NetMovement in Funds fortheYear | (75,424) | 50,987 | ||||
| Balanceasat31March2023 | 146,341 | 221,765 |
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THE LONDON NOAH TRUST
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BALANGE SHEET (continued) FOR THE YEAR ENDED. 31 MARCH 2023
| Notes | 2023 £ |
2023 £ |
2022 £ |
2022 £ |
|---|---|---|---|---|
| Unrestricted Funds | ||||
| Balance-asat +-April 2022 NetMovement inFunds fortheYear Balanceas.at31.March2023 TotalFunds |
3,572 41,277 |
14,849 247,832 |
2,196 1,376 |
3.572 “433,943 |
| These-financial statementswereapproved ‘by the members.ofthe Board andare-signed.on.their behalfby: |
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| P Freeman Date: 4 1.2a |
The notes on pages 9 to 11 form part of these financial statements
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THE LONDON NOAH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. Accounting Policies
a) Basis of Accounting
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The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The accounts have been prepared to give a ‘true and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to providea ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The trust constitutes a public benefit entity as defined by FRS 102.
b) Taxation
As a qualifying charity, the Trust is not liable to UK taxation.
c) Funds
General funds represent the funds of the Trust that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Trust.
Details of the nature and purpose of the restricted funds are shown in note 8 to the accounts.
d) Resources Expended
Resources expended relate to charitable expenditure in furtherance of the charity's objects. Other resources expended relate to administration.
2. Income
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Total income was split between the funds as follows: 2023 2022
£ £
Restricted 456,439 448 567
Unrestricted 21,907 11,715
478,346 460,282
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THE LONDON NOAH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
3. Donations
| Unrestricted | 2023 | 2022 | ||
|---|---|---|---|---|
| £ | £ | |||
| Support ofChristian Ministers and | theirfamilies | 2,400 | 2,450 | |
| Compassion | 797 | 743 | ||
| Outreach Work | 388 | 628 | ||
| Christian Aid | 50 | - | ||
| UCB | 180 | 180 | ||
| J Kabunga | 100 | 300 | ||
| Guide Dogs | - | 52 | ||
| Freedom Church | 1,600 | 1,325 | ||
| Lighthouse Grant | 2,100 | 1,464 | ||
| Crisis | - | 87 | ||
| Red Cross | - | 100 | ||
| EarthquakeAppeal | 200 | - | ||
| Other Charity Donations | 645 | 604 | ||
| 8,460 | 7,933 | |||
| Restricted | ||||
| Funding for Christian Ministries | - | E Hovsepian | 360,434 | 215,696 |
| M Borji | 291,664 | 225,693 | ||
| 652,098 | 441,389 | |||
| 660,558 | 449,322 |
During the year bank charges of £1,148 (2022: £1,148) were made out of restricted funds. All other expenditure was made out of unrestricted funds in both 2022 and 2023.
4. Trustees’ Remuneration and Expenses
| Trustees’ Remuneration and Expenses | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Trustees' Expenses - Petrol & Meetings | - | 196 |
| Conferences | 381 | 548 |
| 381 | 744 |
There was no remuneration paid to the Trustees in 2023 nor 2022 for their role as trustee, expenses were reimbursed to Trustees as detailed above.
During the year P Freeman was paid £875 for bookeeping services for the charity (2022: £875).
5. Fees Payable to Independent Examiners
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| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Accountancy | Fees | 780 | 780 |
| 780 | 540 |
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THE LONDON NOAH TRUST
, NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Current Assets
| Current assetswere splitbetween the funds as follows: | 2023 | 2022 | |
|---|---|---|---|
| £ | £ | ||
| Restricted | 232,983 | 430,371 | |
| Unrestricted | 15,779 | 4,502 | |
| 248,762 | 434,873 | ||
| 7. | Current Liabilities | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals & Deferred Income | 930 | 930 | |
| 930 | 930 | ||
| Current liabilitieswere splitbetween the funds as follows: | 2023 | 2022 | |
| £ | £ | ||
| Restricted | - | - | |
| Unrestricted | 930 | 930 | |
| 930 | 930 |
8. Funds Analysis
| Brought | Incoming | Resources | Carried forward | ||
|---|---|---|---|---|---|
| forward | resources | expended | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General funds | 3,572 | 21,907 | (10,630) | 14,849 | 3,572 |
| Restricted funds | |||||
| Armenia Project | (9) | - | - | (9) | (9) |
| Funding forChristian Ministries | 208,365 | 238,470 | (360,434) | 86,401 | 208,365 |
| Salt and Light | 250 | - | - | 250 | 250 |
| M Borji | 221,765 | 217,968 | (293,392) | 146,341 | 221,765 |
| 430,371 | 456,438 | (653,826) | 232,983 | 430,371 | |
| TotalFunds | 433,943 | 478,345 | (664,456) | 247,832 | 433,943 |
Armenia Project
Funding for projects in Armenia.
Funding for Christian Ministries
Funding for Christian Ministries was created for the sole use of Mr E Hovsepian.
Salt & Light
Funding for weekly bible study groups and monthly meetings with Christian speakers.
M Bojji
Funding for Article 18 ministry.
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