THE LONDON NOAH TRUST
FINANCIAL STATEMENTS
31 MARCH 2024
Charity Number 1097319
THE LONDON NOAH TRUST
INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 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 | Page 9 |
THE LONDON NOAH TRUST
MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS
Principal Address
Board of Trustees
Bankers
Independent Examiners
35 Hamilton Terrace London NW8 9RG Michael Sookias Philomena Freeman Arbuthnot Latham Royex House Aldermanbury Square London EC2V 7NU Shaw Gibbs (Audit) Limited Wey Court West Union Road Farnham Surrey GU9 7PT
Page 1
THE LONDON NOAH TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024
The trustees have pleasure in presenting their report and the financial statements of the charity for the period ended 31 March 2024.
Legal Status
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.
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. 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 2024/2025, funds permitting.
Reserves
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.
General
The financial statements comply with current statutory requirements, the requirements of the Statement of Recommended Practice and with the charity's governing document.
Page 2
THE LONDON NOAH TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Tru5te05 The Trusl8as who sèrvÈd the Gharity during the For40d were as fdlows". Mr Michael Swki8$ Ms Philomena Freerndn Trustees Re$ponsibili1ie5 Under the Charities Act 2011. thé TrusiÈes are required lo pr8par8d a Statemeni of a¢counts for each financi21 yÈar whi¢h gives a tru8 and lair view ofthe slaie of the affairs of the charity al Ihe ènd of Ihe f1nan¢ial year and of the Incom1rj r880urc&s in the year In Pparing the siaiemeni. Ine Tru51ees are requlred to.. Saled Suitable 4wounting p¢)licies anLI 8p Jy Ihvm consi$lenly Make judgements that are reasonable and prudent Slate whether the polit*s and slandar¢s have been followed, subiecl lo any maierial dep8rtur2s disdose(l and explained In the slalem8ni of acrUnIS Prepare the finantial $18lemfsnls on the going concern basis Unless il is inapproprvote lo presum8 Ihdl the charity will wnlinue its operations dl Tht Trustees are r8StK>nsibl8 for k8eping proper acting recoTOs which disclose with rea50nable accuracy the fin8naal po$ilion of the -hanly al any lime. 80d enable Ihe TtU51ee5 lo en8tsr8 Ihai any siaiemeni of account ppareC by Ih&m Complies with regulations under S8Ction 132111 of the Charities Act 2011. They èrè also reasonable for 5afegu8rding the 8$sets of the Trust hence taking reasonable steps for the prevention and deteK)n of fraud and other Irre9ularilie5. SigneJ on behalf of Ihe Irus188S Tru$iet" Philomena Freeman Approved by the Twsl8es on. Pag8 3 Page 112
THE LONDON NOAH TRUST
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF THE LONDON NOAH TRUST
I report on the financial statements for the period ended 31 March 2024 as set out on pages 6 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 I 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:
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(a) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of 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.
Page 4
LONDOM IKIAH TRUST TO THE TRUSTeES OF THE LONDON NOAH TRUST Thij rewx li rnadg edgty to thtr ¢thoriVg TnJses. as a b. aco)rdw)r wilh Part4 0ltr Clwitsa IAct47ura d Reports) Regulati 2008. l•ty wwk h•$ been uThlertaken $0 Ihat I mbaht stai• to ts dwrity'# T1??• Iho It l •m rnqimred to to thwn in rowt fDr no th wupo. To Ihe fulk•bi charity'$ Tru$•s # o bc. for my mpryL Mrk Dkkln•on FCA $haw Glbty• (Audltl Urnlt•d W•y court Ylg•t Unlon Road F•rnhm S11•y GL* TrT (1 125
THE LONDON NOAH TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Notes Income and Endowments Voluntary income Income tax recoverable via gift aid Interest received Total Income 2 Expenditure Charitable activities Donations 3 Trustees expenses 4 Accountancy fees 5 Bank charges Book keeping Sundry expenses Total Expenditure Net Movement in Funds for the Year Funds as at 1 April 2023 Funds as at 31 March 2024 |
Restricted Unrestricted Funds Funds 2024 2024 £ £ 478,711 19,040 - 3,852 - 5,165 478,711 28,057 478,711 28,057 583,756 14,326 - - - 780 2,053 - - 1,020 - - 585,809 16,126 585,809 16,126 (107,099) 11,931 232,984 14,849 125,886 26,780 |
Total Funds 2024 £ 497,751 3,852 5,165 506,767 506,767 598,082 - 780 2,053 1,020 - |
Total Funds 2023 £ 473,379 3,216 1,752 |
|---|---|---|---|
| 478,346 478,346 |
|||
| 660,558 381 780 1,728 1,010 - |
|||
| 601,935 601,935 (95,168) 247,832 152,665 |
664,457 | ||
| 664,457 | |||
| (186,111) 433,943 |
|||
| 247,832 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All of the activities of the charity are classed as continuing.
The notes on pages 9 to 11 form part of these financial statements
Page 6
THE LONDON NOAH TRUST
BALANCE SHEET
FOR THE YEAR ENDED 31 MARCH 2024
| Notes Current Assets Income tax recoverable Cash at Bank Total Current Assets 6 Current Liabilities 7 Net Current Assets Net Assets Restricted Funds 8 Funding for Armenia Project Balance as at 1 April 2023 Net Movement in Funds for the Year Balance as at 31 March 2024 Funding for Christian Ministers - E. Hovsepian Balance as at 1 April 2023 Net Movement in Funds for the Year Balance as at 31 March 2024 Funding for Salt & Light Balance as at 1 April 2023 Net Movement in Funds for the Year Balance as at 31 March 2024 Funding for M Borji Balance as at 1 April 2023 Net Movement in Funds for the Year Balance as at 31 March 2024 |
2024 2024 £ £ 4,134 149,461 153,595 930 152,665 152,665 (9) - (9) 86,401 (71,132) 15,269 250 - 250 146,341 (35,965) 110,376 |
2023 £ 3,601 245,161 248,762 930 (9) - 208,365 (121,964) 250 - 221,765 (75,424) |
2023 £ 247,832 |
|---|---|---|---|
| 247,832 | |||
| (9) | |||
| 86,401 | |||
| 250 | |||
| 146,341 |
Page 7
THE LONDON NOAH TRUST BALANCE SHEET lcontinuodl FOR THE YEAR ENDED 31 MARCH 2024 2024 2024 2023 2023 Noto5 Unr•$trl¢iod Funds 88lanc8 as 81 1 Apnl 2D23 Nei Movernenl In F($ for the Year Bèlance as al 31 March 2024 14,849 3.572 11.277 14.849 T)tsl Fund5 1S2,665 247.832 Th8S8 financial ststgrnent5 WW8 approved by the rnpmbers of It 8oard and are sned on their behalf by.. P Freeman Oal8'. The notes on page5 9 to 11 rom part tsf these financial st8lement5 Page B Page 212
THE LONDON NOAH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting Policies
a) Basis of Accounting
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 provide a '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
| Total income was split between the funds as follows: Restricted Unrestricted |
2024 £ 478,711 28,057 506,768 |
2023 £ 456,439 21,907 |
|---|---|---|
| 478,346 |
Page 9
THE LONDON NOAH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. Donations
| Unrestricted Support of Christian Ministers and their families Compassion Outreach Work Christian Aid UCB J Kabunga Guide Dogs Freedom Church Lighthouse Grant Crisis Red Cross Earthquake Appeal Other Charity Donations Restricted Funding for Christian Ministries - E Hovsepian M Borji |
2024 £ 2,400 604 676 - 180 100 - 570 7,225 - - - 2,571 14,326 246,000 337,756 583,756 598,082 |
2023 £ 2,400 797 388 50 180 100 - 1,600 2,100 - - 200 645 |
|---|---|---|
| 8,460 360,434 291,664 |
||
| 652,098 660,558 |
During the year bank charges of £1,148 (2023: £1,148) were made out of restricted funds. All other expenditure was made out of unrestricted funds in both 2023 and 2024.
4. Trustees' Remuneration and Expenses
| Trustees' Expenses - Petrol & Meetings Conferences |
2024 £ - - - |
2023 £ - 381 |
|---|---|---|
| 381 |
There was no remuneration paid to the Trustees in 2024 nor 2023 for their role as trustee, expenses were reimbursed to Trustees as detailed above.
During the year P Freeman was paid £1,020 for bookeeping services for the charity (2023: £875).
5. Fees Payable to Independent Examiners
| Payable to Independent Examiners | ||
|---|---|---|
| Accountancy Fees | 2024 £ 780 780 |
2023 £ 780 |
| 540 |
Page 10
THE LONDON NOAH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
6. Current Assets
| Current assets were split between the funds as follows: Restricted Unrestricted 7. Current Liabilities Accruals & Deferred Income Current liabilities were split between the funds as follows: Restricted Unrestricted |
2024 £ 125,886 27,709 153,595 2024 £ 930 930 2024 £ - 930 930 |
2023 £ 232,983 15,779 |
|---|---|---|
| 248,762 | ||
| 2023 £ 930 |
||
| 930 | ||
| 2023 £ - 930 |
||
| 930 |
8. Funds Analysis
| Brought Incoming Resources forward resources expended £ £ £ Unrestricted funds General funds 14,849 28,057 (16,126) Restricted funds Armenia Project (9) - - Funding for Christian Ministries 86,401 174,868 (246,000) Salt and Light 250 - - M Borji 146,341 303,844 (339,809) 232,983 478,712 (585,809) Total Funds 247,832 506,769 (601,935) |
Carried forward 2024 £ 26,779 (9) 15,269 250 110,376 125,886 152,665 |
2023 £ 14,849 (9) 86,401 250 146,341 |
|---|---|---|
| 232,983 | ||
| 247,832 |
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 Borji
Funding for Article 18 ministry.
Page 11