## 



|||||Page|
|---|---|---|---|---|
|Report of the|Trustees|||3to35|
|Statement<br>of|Trustees|Responsibilities||35|
|Report of the|Independent||Auditors|36 to 38|
|Consolidated|Statement|of|Financial Activities|39|
|Consolidated|Balance Sheet||||
|Charity Balance Sheet||||41|
|Cash Flow Statement||||42|
|Notes to the|Cash Flow|Statement||43|
|Notes to the|Financial|Statements||44 to 54|
|Detailed 5tatement<br>of||Ffnancial<br>Activities||55|





Annual Trustees Rèport 2022123




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|for the Year Ended 31|March|202|3|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||31.3.2023|31.3.2022|
|||||||Unrestricted|Restncted|Total funds|Totalfunds|
|||||||fund|funds|||
||||||Notes|C|E|||
|INCOME AND ENDOWMENTS||FROM||||||||
|Donations<br>and legacies||||||1,156,877|415,207|1,572,084|1,389,043|
|Other trading<br>activities<br>- CBN Resources||||Ltd||7,492||7,492|25,760|
|Investment<br>income||||||1,030|26|1,056|111|
|Total||||||1,165,399|413,233|1,580,632|1,414,914|
|EXPENDITURE ON||||||||||
|Raising funds||||||9,660||9,660|16,302|
|Charitable<br>activities||||||||||
|Humamtarian<br>Aid and|Promotion||of Christian|||1,144,673|539,220|1,683,893|1,182,583|
|Religion||||||||||
|Total||||||1,154,333|539,220|1,693,553|1,198,885|
|NET INCOME/(EXPENDITURE)||||||11,066|f125,987)|1112,921)|216,029|
|RECONCILIATION<br>OF|FUNDS|||||||||
|Total funds brought|forward|||||99,321|329,604|428,925|212,896|
|TOTAL FUNDS CARRIED FORWARD||||||~110387|~203 617|~316004|428,925|





## 

|Consolidated<br>Bala<br>At 31 March 2023|nce Sheet|||||||
|---|---|---|---|---|---|---|---|
|||||||31.3.2023|31.3.2022|
|||||Unrestricted|Restricted|Totalfunds|Totalfunds|
|||||fund|funds|||
||||Notes|E|E|||
|FIXED ASSETS||||||||
|Tangible assets|||14|74,963||74,963|50,404|
|||||74,963||74,963|50,404|
|CURRENT ASSETS||||||||
|Stocks|||16|4,154||4,154|3,095|
|Debtors|||17|49,209||49,209|38,798|
|Cash at bank and|in hand|||10,165|205,840|216,005|357,537|
|||||63,528|205,840|269,368|399,430|
|CREDITORS||||||||
|Amounts<br>falling due within||one year|18|(28,104)||(28,104)|(20,909)|
|NET CURRENT ASSETS||||35,424|205,840|241,Z64|378,521|
|TOTAL ASSETS LESSCURRENT LIABILITIES||||110,387|205,840|316,227|428,925|
|NET ASSETS||||110,387|205,840|316,227|428,925|
|FUNDS|||20|||||
|Unrestricted<br>funds||||||110,387|99,321|
|Restncted<br>funds||||||205,840|329,604|
|TOTAL FUNDS||||||~3)6 227|428,925|





## 

|Balance Sheet<br>~~rZ<br>2|||||||
|---|---|---|---|---|---|---|
||||||31.3.2023|31.3.2022|
||||Unrestricted|Restricted|Total<br>funds|Total<br>funds|
||||fund|funds|||
|||Notes|f.|6|||
|FIXEDASSETS|||||||
|Tangible<br>assets||14|74,234||74,234|49,259|
|Investments||15|I||I|I|
||||74,235||74,235|49,260|
|CURRENT ASSETS|||||||
|Stocks||16|4,154||4,154|3,095|
|Debtors||17|56,893||56,893|46,482|
|Cash at bank and in hand|||3,495|205,840|209,335|347,S67|
||||64,542|205,840|270,382|397,444|
|CREDITORS|||||||
|Amounts<br>faliing due within|one year|18|(26,308)||(26,308)|(18,924)|
|NET CURRENT ASSETS|||38,234|205,840|244,074|378,520|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||112,469|205,840|318,309|427,780|
|NET ASSETS|||112,469|205,840|318,309|427,780|
|FUNDS|||||||
|Unrestricted<br>funds|||||112,469|98,176|
|Restricted<br>funds|||||205,840|329,604|
|TOTAL FUNDS|||||318,309|427,780|





## 

|Consolidated<br>Cash Flow Statement|Consolidated<br>Cash Flow Statement|||||||
|---|---|---|---|---|---|---|---|
|for the Year Ended 31 March 2023||||||||
|||||||31.3.2023|31.3.2022|
||||||Notes|E|E|
|Cash flows from operating|activities:|||||||
|Cash generated<br>from operations||||||~99,451)|213,966|
|Net cash provided<br>by (used in) operating||||||||
|activities||||||(99,451)|213,966|
|Cash flows from investing|activities:|||||||
|Purchase of tangible<br>fixed|assets|||||(43,360)|(39,526)|
|Purchase of fixed asset investments||||||||
|Sale of tangible<br>fixed assets||||||||
|Interest<br>received||||||1,279||
|Net cash provided<br>by (used in) investing|||activities|||||
|||||||(42,081)|l39,415)|
|Change<br>in cash and cash|equivalents|in the||||||
|reporting<br>period||||||(141,532)|174,551|
|Cash and cash equivalents|at the beginning|||of the||||
|reporting<br>period||||||357,537|182,986|
|Cash and cash equivalents|at the end|of|the|||||
|reporting<br>period||||||216,005|357,537|





## 

## 

|o the Cash Flow State<br> Year Ended 31 March|ment<br> 2023|ment<br> 2023|ment<br> 2023|ment<br> 2023||||
|---|---|---|---|---|---|---|---|
|RECONCILIATION<br>OF|NET INCOME/(EXPENDITURE)||||TO NET CASH FLOW|FROM OPERATING ACTIVITIES||
|||||||31.3.2023|31.3.2022|
|||||||E|6|
|Net income/(expenditure)<br>for the reporting||||period (as per the||||
|statement offinancial||activities)||||(112,698)|216,029|
|Adjustments<br>for:||||||||
|Depreciation<br>charges||||||18,801|11,509|
|(Profit)/loss<br>on disposal||of fixed assets||||||
|Interest<br>received||||||(1,279)|(111)|
|Decrease/(increase)|in|stocks||||(1,059)|(663)|
|Decrease/(increase)|in|debtors||||(10,411)|(8,048)|
|(Decrease)/increase|in|creditors||||7,195|(4,750)|
|Net cash provided<br>by (used in) operating|||activities|||(99,451)|213,966|





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## 

|for th|e Year Ended 31 March 2023|e Year Ended 31 March 2023|||
|---|---|---|---|---|
|3,|OTHER TRADING ACTIVITIES||||
||||31.3.20?3|31.3.2022|
||||f.|E|
||CBN Resources|Ltd|~7492|25.760|
|4,|INVESTMENT|INCOME|||
||||31.3.2023|31.3.2022|
|||||C|
||Deposit account interest||1,279|111|



## 

|Other trading<br>ac|tivities<br>- Unrest|ricted|||||
|---|---|---|---|---|---|---|
||||||31.3.2D23|31.3.2022|
|||||||f|
|CBN Resources Ltd|||||10,719|16,965|
|Other|||||~1059)|~663)|
||||||9,660|16,302|
|CHARITABLE ACTIVITIES COSTS|||||||
|||||Grant funding|||
||||Direct costs|of activities|Support costs|Totals|
||||(See note 7)|(See note 8)|(See note 9)||
||||E|E|E||
|Humanitarian<br>Aid and Promotion||of|||||
|Christian<br>Reugion|||1,550,383|125,824|7,686|1,683,893|
|DIRECT COSTS OF CHARITABLE||ACTIVITIES|||||
||||||31.3.2023|31.3.2022|
||||||f|E|
|Staff costs|||||767,341|700,558|
|Hire of equipment|||||20,542|8,597|
|Rent re; Licences 8 other|||||109,881|42,843|
|Rates|||||4,378|3,681|
|Insurance|||||5,696|5,539|
|Light and heat|||||5,202|728|
|Telephone|||||25,951|26,968|
|Postage and stationery<br>Production 0 satellite fees|||||20,731<br>17,213|18,982<br>15,946|
|Sundnes|||||1,664|2,488|
|Office expenses|and repairs||||66,697|26,639|
|Repairs<br>and maintenance|||||755|455|
|Cast and talent fees|||||1,355|529|
|Bank charges|||||19,930|20,599|
|Exchange losses|||||(603)|(553)|
|Travelling|||||98,300|6,292|
|Contract<br>labour|||||325,331|85,149|
|Profess1onal fees|||||39,887|22,278|
|Other Employment<br>Costs<br>Depreciation|||||1,747<br>~18 385|~11402|
||||||1,550,383|999,120|





## 

## 

|GRANTS PAYAB|LE||||||||
|---|---|---|---|---|---|---|---|---|
||||||||31.3.2023|31.3.2022|
||||||||6|E|
|Humanitarian<br>Aid and Promotion|||of|Christian||Religion|125,824|~176 143|
|The total grants|paid to institutions|||during|the year was as follows:||||
||||||||31.3.2023|31.3.2022|
||||||||E|E|
|Life TV|||||||8,662||
|World Reach - Senegal||||||||578|
|Operation<br>Blessing<br>USA||||||||9,515|
|Other donations|under|f5,00D||||||2,372|
|CBN Asia||||||||3,255|
|Mission Freedom||||||||6,000|
|Afghan<br>Refugees|—Albania|||||||9,836|
|CBN Balkan||||||||21,424|
|Qendra<br>Celesi Im - Albania||||||||1,711|
|YMAM Poland||||||||2,091|
|Christian<br>Broadcasting||Network|(Germany)||||Z,144|17,105|
|Doma Bejenaru|/ AO "Asociapa||Jurnaliftilo||r|Crestini"||23,899|
|Helping<br>Hands (Greece)|||||||||
|Victory Church|||||||24,469|19,000|
|2bfree 08Project (The||Netherlands)|||||18,000|5,000|
|CBN Israel||||||||11,505|
|Kosciol Zielonos|- Poland|||||||9,2D1|
|CBN Nederland||||||||26,502|
|Awana Mimstries|Portugal|||||||7,149|
|LAB 7EVEN CIC|||||||3,270||
|Infinity<br>Foundation|||||||1,824||
|Operation<br>Blessmg<br>International|||||||8,396||
|Other Donations|||||||15,180||
|700 Club Germany|||||||43,879||
||||||||125,824|176,143|



## 

## 

|SUPPORT CO|STS|||||||
|---|---|---|---|---|---|---|---|
||||||||Governance|
||||||||costs|
||||||||C|
|Humanitarian|Aid and Promotion||of Christian||Re(igion||7,686|
|NET INCOME/(EXPENDITURE)||||||||
|Net resources|are stated|after charging||/ (crediting):||||
|||||||31.3.2023|31.3.2022|
|||||||C|C|
|Auditors'<br>remuneration||||||7,686|7,320|
|Depreciation|- owned assets|||||18,801|11,506|
|Operating<br>leases||||||54,946|54,946|
|(Gain)/Deficit|on disposal|of fixed asset||||||





## 

||||||31.3.2023|31.3.2022|
|---|---|---|---|---|---|---|
||||||E|E|
|Turnover|||||7,492|25,760|
|Cost of sales|||||6 293|9 850|
||||||1,199|15,910|
|Distribution||and admmistration|costs||(4,426)|(7,115)|
|Covenant|to|Charity||||(7,650)|
|Profit for the period and retained||||profit carried forward|(3,227)|1,145|
|Net assets|||||(2,081)|1,146|



## 

|There were no|There were no|trustee|s'<br>expen|ses<br>paid for t|he year|ended<br>31 March 2023 nor fo|r the year ended<br>3|1 March 2022|
|---|---|---|---|---|---|---|---|---|
|STAFF COSTS|||||||||
||||||||31.3.2023|31.3.2022|
||||||||E|E|
|Wages and|salaries||||||714,457|646,685|
|Social security||costs|||||37,403|40,136|
|Other pension||costs|||||15,481|13,737|
||||||||767,341|700,558|
|The average|monthly||number|of employees|during|the year was as follows:|||
||||||||31.3.2023|31.3.2022|
||||||||30|31|





## 

## 

|||||||||Unrestricted|Restricted|Total|funds|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||fund|funds|||
|||||||||E|E|||
|INCOME AND ENDOWMENTS||||FROM||||||||
|Donations<br>and legacies||||||||1,028,276|360,767|1,389,043||
|Other trading<br>activities|||- CBN Resources|||Ltd||25,760|||25,760|
|Investment<br>income||||||||85|26|||
|Total||||||||1,054,121|360,793|1,414,914||
|EXPENDITURE ON||||||||||||
|Raising funds||||||||16,302|||16,302|
|Charitable<br>activities||||||||||||
|Humanitarian<br>Aid|and|Promotion|||of Christian||Religion|~1,019 178|163,405|1,182,583||
|Total||||||||1,035,480|163,405|1,198,885||
|NET INCOME/(EXPENDITURE)||||||||18,641|197,388|216,029||
|RECONCILIATION|OF|FUNDS||||||||||
|Total funds brought||forward||||||80,679|132,217|212,896||
|TOTAL FUNDS CARRIED FORWARD||||||||~99 320|329,605|429,792||
|TANGIBLE FIXED|ASSETS - GROUP|||||||||||
|||||||||Fixtures<br>and|Computer|||
|||||||||ftt'tin gs|equipment||Totals|
|||||||||L|L||E|
|COST||||||||||||
|At<br>1 April 2022||||||||33,776|117,865|151,641||
|Additions||||||||21,616|21,774||43,390|
|Disposals||||||||||||
|At 31 March 2023||||||||55,392|139,639|195,031||
|DEPRECIATION||||||||||||
|At I April 2022||||||||9,995|92,387|10Z,38Z||
|Charge for year||||||||5,211|13,174||18,385|
|Eliminated<br>on disposal||||||||||||
|At 31 March 2023||||||||15,206|105,561|120,767||
|NET BOOK VALUE||||||||||||
|At 31 March 2023||||||||40,186|~34 078||74,264|
|At 31 March 2022||||||||~23 781|25,478||49,259|





## 

## 

## 

|14.|TANGIBLE FIXED ASSETS —continued<br>—CHARITY|||||
|---|---|---|---|---|---|
|||Fixtures|and|Computer||
|||fIttirigs||equipment|Totals|
||||E|E|E|
||COST|||||
||At 1 Apnl 2022|33,776||117,865|151,641|
||Additions|21,616||21,744|43,360|
||Disposals|||||
||At 31 inarch 2023|55.392||139,609|195,001|
||DEPRECIATION|||||
||At I April 2022||9,995|92,387|102,382|
||Charge for year||5,211|13,174|18,385|
||Ehminated<br>on disposal|||||
||At 31 March 2023|15,206||105,561|120,767|
||NET BOOK VALUE|||||
||At 31 March 2023|40,186||34,048|74,234|
||At 31 March 2022|23,781||25,478|49,259|
|15.|FIXEDASSET INVESTMENTS - CHARITY|||||
||||||Listed|
||||||investments|
||||||E|
||MARKET VALUE|||||
||At 1 Apnl<br>ZOZZ and 31 March 2023|||||
||NET BOOK VALUE|||||
||At 31 March 2023|||||
||At 31 March 2022|||||



## 

|STOCKS|||
|---|---|---|
||31.3.2023|31.3.2022|
||E|E|
|GROUP - Stocks|4 154||
|CHARITY - Stocks|||





## 

|DEBTORS: AM|OUNTS|F|ALLING DUE WITHIN ONE YEAR - GROUP|||
|---|---|---|---|---|---|
|||||31.3.2023|31.3,2022|
|||||E|6|
|Other debtors||||24,329|35,010|
|Prepayments|and accrued income|||~24 880|3,788|
|||||~49 209|38,798|
|DEBTORS: AMOUNTS||FALLING DUE WITHIN ONE YEAR - CHARITY||||
|||||31.3.2023|31.3.2022|
|||||E|6|
|Other debtors||||32,013|42,694|
|Prepayments|and accrued income|||~24 880|~3788|
|||||56,893|46,482|
|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR - GROUP|||
|||||31.3.2023|31.3.2022|
|||||E|f|
|Trade creditors||||33|33|
|Social security|and other taxes|||14,831|12,833|
|Other creditors||||1,744|1,898|
|Accruals<br>and deferred|||income|11,496|6,145|
|||||~28 104|~20 909|



## 

|CREDITORS: A|MOUNTS|FALLING DUE WITHIN ONE YEAR|- CHARITY||
|---|---|---|---|---|
||||31.3.2023|31.3.2022|
||||E||
|Trade cred1tors|||||
|Social security|and other taxes||14,746|12,568|
|Other creditors|||66|211|
|Accruals<br>and deferred||income|11,496|6,145|
||||26,308|18,924|



## 

|Minimum<br>lease payments<br>under non-cancellable<br>operatin|g<br>leases fall due as fo(lows:||
|---|---|---|
||31.3.2023|31.3 2022|
||c|C|
|Within one year|54,946|54,946|
|Between one and five years|164,400|128,246|
|In more than five years||41,100|
||219,346|224,292|





## 

## 

## 

|||||||||Net movement||
|---|---|---|---|---|---|---|---|---|---|
|||||||||in funds||
||||||||At 1.4.2022||At 31.3.2023|
||||||||E||E|
|Unrestricted<br>funds||||||||||
|Generalfund|||||||99,321|18,642|117,963|
|Restricted|funds|||||||||
|Restncted|fund|-|Operation||Blessmg||112,530|28,895|141,425|
|Restricted|fund|-|Orphans|Promise|||76,699|28,117|104,816|
|Restricted|fund|—|Help Ukraine||||140,375|140,375|280,750|
||||||||329,604|197,387|526,991|
|TOTAL FUNDS|||||||428,925|216,029|644,954|
|Net movement||in|funds,|included||in the above are as follows:||||
||||||||Incoming|Resources|Movement<br>in|
||||||||resources|expended|funds|
||||||||E|E|E|
|Unrestricted<br>funds||||||||||
|General<br>fund|||||||1,054,121|(1,035,479)|18,642|
|Restricted|funds|||||||||
|Restricted|fund|-|Operation||Blessing||99,959|(71,064)|28,895|
|Restricted<br>Restricted|fund<br>fund|-|Orphans<br>Promise<br>Help Ukraine||||115,405<br>145,429|(87,288)<br>~5,054)|28,117<br>140,375|
||||||||360,793|(163,406)|197,387|
|TOTAL FUNDS|||||||1~414914|(1~198,885)|~216 029|
|Comparatives<br>for|||movement||in funds|||||
|||||||||Net movement||
|||||||||in funds||
||||||||Ar 1.4.2020||At 31.3.2021|
||||||||E||E|
|Unrestricted<br>Funds||||||||||
|General<br>fund|||||||30,086|50,593|80,679|
|Restricted|Funds|||||||||
|Restricted|fund|-|Operation||Blessing||78,447|5,188|83,635|
|Restricted|fund|-|Orphans|Promise|||53,162|(4,580)|48,582|
||||||||131,609||132,217|
|TOTAL FUNDS|||||||161,695|51,201|212,896|





## 

|for th|e Year Ended 31 March 2023|e Year Ended 31 March 2023|e Year Ended 31 March 2023|e Year Ended 31 March 2023|e Year Ended 31 March 2023|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|20.|MOVEMENT<br>IN FUNDS - continued|||||||||||||
||Comparative<br>net||movement||in funds,|included|in the above||are as follows:|||||
||||||||||incoming||Resources||Movement<br>in|
||||||||||resources||expended||funds|
||||||||||E|||C|f.|
||Unrestricted<br>funds|||||||||||||
||Generalfund||||||||1,095,494||(1,044,901)||50,593|
||Restricted|funds||||||||||||
||Restncted<br>Restricted|fund<br>fund|Operation<br>- Orphans||Blessing<br>Promise||||107,249<br>~41 449||(102,061)<br>~46 029)||5,188<br>~4,580)|
||||||||||148,698|||(148,090)|608|
||TOT'AL FUNDS||||||||~(244,(92||~(192991)||51,201|
||A current|year 12months||and prior year 12 months||||combined|position<br>is as follows:|||||
|||||||||||Net|movement|||
|||||||||||||in funds||
||||||||||At 1.4.2020||||At 31.3.2022|
||||||||||L|||E|L|
||Unrestricted<br>funds|||||||||||||
||Generalfund||||||||30,086|||69,235|99,321|
||Restricted|funds||||||||||||
||Restricted|fund|- Operation||Blessing||||78,447|||34,083|112,530|
||Restricted|fund|—Orphans||Promise||||53,162|||23,537|76,699|
||Restricted|fund|—I-lelp Ukraine|||||||||140,376|140,376|
||||||||||131,609|||197,996|329,605|
||TOTAL FUNDS||||||||161,695|||267,231|428,926|
||A current|year 12months||and prior year 12 months||||combined|net movement<br>in|funds,||included|in the above are|
||as follows.|'||||||||||||
||||||||||Incoming||Resources||Movement<br>m|
||||||||||resources||expended||funds|
||||||||||E|||E|C|
||Unrestricted<br>funds|||||||||||||
||Generalfund||||||||2,149,615||(2,080,381)||69,234|
||Restricted|funds||||||||||||
||Restncted|fund|- Operation||Blessing||||207,207|||(173,127)|34,080|
||Restricted<br>Restricted|fund <br>fund|- Orphans<br>Promise<br>—Help Ukraine||||||156,854<br>~145429||(133,317)<br>~5 053)||23,537<br>140,376|
||||||||||509,490|||(311,497)|197,993|
||TOTAL FUNDS||||||||2,659,105||i2,391,878)||267,227|





## 

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##