## **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:
- (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 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
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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
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(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