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← The Plain Truth

2023-12-31-accounts

Charity number: 1098217 Company number: 04619778

The Plain Truth Trustees' Report and financial statements for the year ended 31 December 2023

S & J Accounting Services The Annexe 7 Moorfield Newton Longville Milton Keynes MK17 0BN

The Plain Truth

Notes to financial statements for the year ended 31 December 2023 Contents

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Page
Legal and administrative information 3
Structure, Governance & Management 4 - 5
Trustees Report 6-7
Independent Examiners' report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11-13
Detailed statement of financial activities 14
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The Plain Truth

Notes to financial statements for the year ended 31 December 2023

Charity number 1098217 Company registration number 04619778 Registered office 15 Meadowlands Burwell Cambs CB25 0HG Trustees Karl Ayling Dr.Peter Brierley Mary Hammond Rev Gethin Russell-Jones Secretary Mary Hammond Accountants/ Independent Examiners S & J Accounting Services Financial Accountants The Annexe 7 Moorfield Newton Longville Milton Keynes MK17 0BN

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The Plain Truth

Notes to financial statements for the year ended 31 December 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Appointment of Trustees

As set out in the Articles of Association, the Chair of Trustees is nominated by the Board of Trustees (the Board). Up to 20 Trustees can sit on the Board at any one time. Trustees are appointed on an initial three year basis, after which they can stand for re-election for a further term of three years and can serve for a maximum of three terms. After these three terms of three years the Trustees must then stand down for a minimum of one year. After this period they can then apply for re-election for a future term of office.

Trustees and those working with the Charity are asked to put names forward to the Company Secretary for potential new trustees. These are then invited to complete application forms which are reviewed by all the Trustees. Applicants are then invited to attend a Board Meeting before being interviewed by the Board.

Trustee induction and training

New Trustees undergo an orientation process to provide them with details of the aims and objectives of the Charity. They are also provided with the Memorandum and Articles of Association, the business strategy, details of our programmes and most recent reports and accounts. Trustees are also provided with a copy of the ACEVO folder on Trustees roles and responsibilities.

Organisational structure

The Board administers the Charity. The Board meets regularly throughout the year. An Editor/Publisher is appointed by the Trustees to manage the day-to-day operations of the charity and to circulate regular, timely reports to the Trustees. To facilitate effective operations, the Editor/Publisher has delegated authority for operational matters, including finance, employment and programme related activity.

Wider network

The Plain Truth Limited is a member of the Evangelical Alliance in the UK and maintains strong links with many of its other members. The Plain Truth’s articles are often used in the production of other publications as well as supplying local parish magazines throughout the UK and other religious magazines around the world. Copies of The Plain Truth are also distributed to New Zealand. The current mailing list reaches 84 countries worldwide.

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The Plain Truth

Notes to financial statements for the year ended 31 December 2023 Related parties

As consultant in the capacity of Editor to the charity, Mary Hammond is also associated with other professional bodies and charities as follows: Member of the Chartered Institute of Public Relations; Member of the National Union of Journalists; Member of the Institute of Fundraising; Member of the Association of Christian Writers; trustee of charities Burwell Community Printing Centre Ltd, Burwell Education Foundation and Burwell Church Lands.

Risk management

The Trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks.

All risks are laid down in a risk register which forms part of the Business Plan. The identified risks are reviewed regularly and the Trustees are updated at Board meetings of appropriately graded risks. The Trustees have identified risks relating to funding and there is a formal budgeting process which allows the Trustees to identify in advance any period where funding is a concern. The Trustees recognise that raising of additional funds and cutting of costs where practicable should be a priority.

OBJECTIVES AND ACTIVITIES

Charitable objects

The objects of the company are to proclaim the Gospel of Jesus Christ according to the word of God to the people of the United Kingdom and abroad by means of the written word, by radio, by television, by recordings, by printed word and by personal evangelism. Currently the company seeks to fulfil a number of these objectives through the production and distribution of a free magazine titled The Plain Truth . Following his untimely death in May 2018 the charity agreed to publish a paperback book which had been written in draft form and dedicated to The Plain Truth by Rev L Roy Lawrence. He has been greatly missed, but his writings continue to live on and inspire many through the publication of ‘Plain Truths about Life , Faith and Healing’ , over 1,200 copies have now been given away. In 2021 a new venture in the form of a Podcast was undertaken the first edition being launched in July. Since that time the Podcast (‘Plain Talking’) has been produced each month, and features interviews with key Christian figures and organisations, as is freely available through distribution channels such as Google; Spotify; Stitcher; Apple iTunes amongst others. This has successfully continued during 2023 and is also planned throughout 2024. Some excellent guests have been interviewed during this period and The Plain Truth has noted new subscribers being added as a result of this additional resource supplied by the charity.

The Plain Truth has also given away dozens of recently published Christian books which have been featured in articles during the year. These include titles such as God’s Smuggler ; Good News Rainbow Children’s Bible and others as well as a souvenir gospel celebrating the coronation of King Charles III.

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The Plain Truth

Notes to financial statements for the year ended 31 December 2023

THE TRUSTEES PRESENT THEIR REPORT AND THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 THE TRUSTEES WHO SERVED DURING THE YEAR AND UP TO THE DATE OF THIS REPORT ARE SET OUT ON PAGE 3.

Significant activities

During the year the Charity continued to produce a magazine that responded to topical issues from a Christian perspective relevant to its reader profile. Covering subjects such as; the power of prayer, theology, the monarchy and church government in the UK as well as global issues such as persecution of Christians across the globe, etc.. The Plain Truth worked together with other charities to bring its readers articles and to signpost them to sources of help where available.

During 2023 the magazine continued to attract a steady flow of paying advertisers such as The Bible Network , The Bible Society, , Toybox, Shelterbox, Open Bible Trust; Bible Network; Freedom From Torture and Railway Children amongst others, who see the magazine as a key media resource to promote their respective organisations and charities.

Public benefit

The Plain Truth magazine is available free to all who wish to receive a copy. Articles – written from a Christian perspective – give help, encouragement and advice on areas such as debt and loneliness, as well as matters affecting the elderly in their everyday lives. Details and sources of further help, information and points of contact are published in the magazine. The website contains a selection of previous articles available for all to freely view and download. In addition, requests for a flip-book version of a PDF of each copy of the magazine was made freely available during 2023 for all those who requested copies and currently the list stands at over 620 of subscribers.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

In 2023, The Plain Truth Limited produced three editions of the magazine. Costs continue to be controlled carefully and incoming resources, particularly donations, have received careful attention and are continually under review.

Resources shown in the statement of financial activities for the year ended 31st December 2023 and taking account of the present cash resources, plus the small legacy received in April 2023, the Trustees believe the current position to be a sound basis for the continued production of the magazine throughout 2024 and beyond.

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The Plain Truth

Notes to financial statements for the year ended 31 December 2023

Internal and external factors

Although The Plain Truth Limited has been affected by the general economic downturn over the past few years, as well as rising postal charges it has been able to produce the same level of charitable activities as recent previous years. And for this we are extremely grateful to our supporters. The magazine continues to be mailed to subscribers in 84 countries worldwide. However, we have experienced quite a drop in donations income during the year.

The Trustees are extremely grateful for this generosity and recognise the importance of reader loyalty particularly at a time when they are also facing economic hardship affecting the UK.

ON BEHALF OF THE BOARD :

Mary Hammond, Company Secretary

Date: 25[th] April 2024

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The Plain Truth

Notes to financial statements for the year ended 31 December 2023

Independent Examiner's report to the trustees on the unaudited financial statements of The Plain Truth.

I report on the accounts of The Plain Truth for the year ended 31 December 2023 set out on pages 9 to 14.

Respective responsibilities of trustees and independent examiner

As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act), as amended by section 28 of the Charities Act 2006 does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3)(a) of the Act, as amended; to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act, as amended; 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 the General Directions given by the Charity Commission. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

...........................................................

Independent Examiner

S & J Accounting Services Financial Accountants The Annexe 7 Moorfield Newton Longville Milton Keynes MK17 0BN

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The Plain Truth

Notes to financial statements for the year ended 31 December 2023

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2023 2022
Total Total
Notes £ £
Incoming resources
Incoming resources from generating funds:
Voluntary income 2 34,886 38,164
Activities for generating funds 3 6,410 4,478
Bank interest 921 122
__ _
Total incoming resources 42,217 42,764
__ _ _
Resources expended
Costs of generating funds:
Cost of generating voluntary income 3,440 3,713
Fundraising trading:
- -
Cost of goods sold and other costs
Charitable activities 66,545 76,901
Governance costs 750 750
_ _
Total resources expended 70,735 81,364
_ _
Net incoming/(outgoing) resources (28,518) (38,600)
Reconciliation of funds
Total funds brought forward 124,388 162,988
_ _
Total funds carried forward 95,870 124,388
_ ____
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The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

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The Plain Truth

Notes to financial statements for the year ended 31 December 2023 Balance sheet

as at 31 December 2023

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2023 2022
Notes £ £ £ £
Fixed assets
- -
Intangible assets
Current assets
Debtors 5 - -
Cash at bank and in hand 99,582 126,888
_ _
99,582 126,888
Creditors: amounts falling
due within one year 6 (3,712) (2,500)
_ _
Net current assets 95,870 124,388
_ _
Net assets 95,870 124,388
_ _
Funds 7
_ _
Total funds 95,870 124,388
_ _
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The financial statements were approved by the trustees on the 25 April 2024 and signed on its behalf by:

................................ Mary Hammond Secretary/ Trustee ................................

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Trustee
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The Plain Truth

Notes to financial statements

for the year ended 31 December 2023

1. Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

1.1. Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Charities Act 1993.

1.2. Cash flow

The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cash flow statement because it is a small charity

1.3. Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

Income from investments is included in the year in which it is receivable.

1.4. Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

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The Plain Truth

Notes to financial statements for the year ended 31 December 2023

2. Voluntary income

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2023 2022
Total Total
£ £
Donations 27,636 29,919
Gifts 5,084 2,745
Legacies 2,166 5,500
_ _
34,886
38,164
_ _
3. Activities for generating funds
2023 2022
Total Total
£ £
- -
Fundraising events
Advertising income 6,410 4,478
_ _
6,410
4,478
_ _
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4. Trustees’ remuneration and benefits

There were no employees during the year.

None of the trustees received any remuneration during the current year or the previous period in respect of work carried out for the company. Expenses were reimbursed to the Trustees in respect of those incurred in the performance of their duties.




Trustees’ expenses

-
5.Debtors: amounts falling due within one year


Prepayments and accrued income




2023
Total
£
-
_

-
2023
£
-
 2022
Total
£
-
_
-
2022
£
-

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6. Creditors: amounts falling due within one year

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2023 2022
£ £
Accruals and deferred income 750 750
7. Movement of funds
Net movement
at In funds at
01.01.23 31.12.23
£ £ £
Unrestricted funds
General fund 124,388 (28,518) 95,870
TOTAL FUNDS 124,388 (28,518) 95,870
Net movement in funds, included in the above are as follows:
Incoming Resources
Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 42,217 70,735 (28,518)
TOTAL FUNDS 42,217 70,735 (28,518)
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8. RELATED PARTY DISCLOSURES

During the year, the company paid consultancy fees totalling £25,200 (2022: £25,200) to Hammond Associates, a business owned by Mrs M H Hammond, The Plain Truth Limited's Company Secretary, for the editing, management and production of the magazine. In addition, expenses £862.48 (2022: £1,750.47) were reimbursed to Hammond Associates during the year. These transactions were carried out on an arm’s length basis.

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2023
£
Incoming resources
Incoming resources from generating funds:
Voluntary income
Donations
Gifts
Legacies
Bank interest
Activities for generating funds
Fundraising events
Total incoming resources
Resources expended
Cost of generating voluntary income
Printing & production costs

Fundraising trading:
cost of goods sold and other costs
Sub-contractor costs

Charitable activities
Insurance
Postage & stationery
Miscellaneous costs
Sub-contracting costs
Handling fees
Printing & production costs
Authors fees
Travelling & subsistence
Consultancy fees
Bank charges

Governance costs
Trustees’ expenses
Accountancy		 2022
£
£
27,636
5,084
2,166
921
_

35,807
38,286
_

6,410
_

6,410

_

42,217
_

3,440
-
768
10,921

2,978
13,950
-

10,345
1,750

-
25,200
633
_

-

750		 £
29,919
2,745
5,500
122
_

_
4,478
_
4,478
_
42,764
_
3,713
-
746
11,674
6,115
19,746
-
10,443
2,250
86
25,200
641
_
-
750

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Total resources expended 70,735 81,364 Net income (expenditure) for the year (28,518) (38,600)

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