Naval & Military Bible Society
Annual Report and Accounts
For the year ended 31 December 2021
Registered Charity No. 1102593 Registered Company No. 5021052
Trustees’ Annual Report for year ended 31 December 2021 Page 1
Naval & Military Bible Society
Trustees’ Annual Report for year ended 31 December 2021
Constitution
The Naval Military & Air Force Bible Society was founded in 1779 and established on 20 January 2004 as a company limited by guarantee (No. 5021052) and a registered charity (No. 1102593) governed by its memorandum and articles of association. At the meeting of trustees on 30 June 2017, it was agreed to revert the name of the Society to Naval & Military Bible Society, reflecting the service to Merchant seafarers and all military and service personnel across the globe.
Directors and trustees
The directors of the charitable company (“the Society”) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees:
The Revd S P Springett RNR (Chair from 1 April 2017)
Colonel J Lewis
The Revd J Pitkin (Sqn Ldr RAF Retd)
Lieutenant Colonel (Retd) D G Vincent MBE
Doctor P A Lucas
Mr S Rivers
The Reverend K Bassett (Lieutenant RNR)
Sqn Ldr (Retd) P Gallagher (Resigned 24/03/2021)
Society Executive Director and company secretary:
Mr A Dakin OBE (Wg Cdr Retd)
Advocacy Officer:
Mrs C Rivers
Registered office:
Unit 24, Shrivenham Hundred Business Park, Watchfield, Wiltshire SN6 8TZ
Independent Examiner:
Clifford Fry & Co, St Mary’s House, Netherhampton, Salisbury, SP2 8PU
Bankers:
Barclays Bank PLC, PORTSMOUTH 2, Leicester, Leicestershire, LE87 2BB
Trustees’ Annual Report for year ended 31 December 2021 Page 2
Naval & Military Bible Society
Aim and purposes
The Society’s aim and objectives, as set out in the company’s Memorandum of Association, are:
To advance the Christian religion by distributing, either free of charge or by sale, copies of the Bible, New Testaments and Psalms and Christian resources to the United Kingdom armed forces personnel and their associates, to the forces of the Commonwealth and other nations, merchant seafarers, United Kingdom police, fire and rescue services and others.
Public Benefit
The Society’s beneficiaries include United Kingdom armed forces personnel and their associates, the forces of the Commonwealth and other nations, merchant seafarers, United Kingdom police, fire and rescue services and others in whatever geographical area they may be serving. Our literature is tailored to meet the needs of our beneficiaries and we are a gifting Society that gratefully receives donations.
The Society’s literature addresses the needs of armed forces’ personnel and their families faced with bereavement and the effects of combat stress and separation, and merchant seafarers and their families in the current climate of job insecurity, piracy, hostage taking and isolation. It is mainly ordered and distributed through military chaplains and merchant seafarers’ missions. It aids the building of resilience and good character, education in moral and ethical values and giving spiritual strength and guidance for those of the Christian faith.
The Charity Commission’s guidance and principles on public benefit are also reflected in both the planned objectives and the year’s activities.
Planned activities for 2022
The Society’s core business remains the distribution of Bibles and New Testaments with bespoke cover designs for service personnel and seafarers and cadets. The effects of the COVID-19 pandemic should be less of a limitation to operations in 2022, when compared with 2020 and 2021. As well as the core Bible offering, NMBS will be producing several new books and other publications in 2022.
Publications commissioned in 2021:
| • | Softback New Testament and Psalms NIV (8 variants) | £40,000 |
|---|---|---|
| • | Hardback Bibles (3 variants) | £3365 |
| • | Inner Struggles – Royal Navy Edition | £4001 |
| • | Seafarer’s New Testament Diglot English/Tagalog | £12750 |
| • | Hardback Red/Blue Bibles | £3592 |
| • | Inner Struggles – Police Edition | £7256 |
| • | Softback New Testament and Psalms NIV (11 variants) | £42,080 |
| • | Total |
£113044 |
| The | entry in italics was ordered in 2021, but 50% of expenditure will occur in 2022 |
It should be noted that distribution costs for publications in 2021 was £4752, representing a significant overhead for the organisation. However, this figure is a lot less than the cost of distribution when NMBS stock was held in a commercial facility.
Trustees’ Annual Report for year ended 31 December 2021 Page 3
Naval & Military Bible Society
Publications plan for 2022:
| • | Softback New Testament and Psalms NIV (10 variants) | £40000 |
|---|---|---|
| • | Seafarer’s New Testament Diglot English/Tagalog | £20000 |
| • | Paperback 4-Service Bible | £12000 |
| • | Inner Struggles – RAF Edition | £8000 |
| • | Shaken Forces | £5500 |
| • | Combatting Stress | £5000 |
| • | What Do You See? What Do you Think? | £5000 |
| • | Faith and Justice in War | £5935 |
| • | Cadet Prayer Book | £5152 |
| • | Little Book of Character | £2500 |
| • | God’s Compass | £1334 |
| • | ACF Cadet Prayer Cards | £75 |
| • | ATC Cadet Prayer Cards | £75 |
| • | Total | £110571 |
Governance
A Board of Trustees, comprising officers representing the UK’s armed forces, military cadet forces and merchant seafarer missions, governs the Society, with advice from serving chaplains to Her Majesty’s Forces. The Board meets every four months.
An Executive Director, appointed by the trustees, manages day-to-day activities, assisted by an Advocacy Officer. No employees receive benefits, excluding pension costs, of more than £60,000.
Risk Management
In line with recommended practice, the Board regularly reviews the financial and operational risks to which it may be exposed. The trustees are satisfied that systems are in place to mitigate risk and take action to alleviate such risks where necessary.
Finances
The £149,000 income in 2021 represents a 17% reduction from £179,000 in 2020. This dip was, primarily, COVID related with some people and organisations not having the ability to donate at previous levels.
Reserves Policy
The Society's policy is to keep reserves to a minimum. Nonetheless, it recognizes the need to have an operating balance sufficient to cover minimum operating costs for a 6-month period if it became necessary to close the Society. Efforts have been made in recent years to reduce operating costs, such that the minimum operating balance is now £20,000. However, to enable orders to be placed in a timely fashion it is the aim to maintain a month end balance of £50,000. The trustees will keep this figure under review, considering the balance between the increase in activity and the welcome transition to a more financially efficient operating model.
Trustees’ Annual Report for year ended 31 December 2021 Page 4
Naval & Military Bible Society
Trustees’ responsibilities in relation to financial statements
a) For the period ended 31st December 2021, the company was entitled to exemption under section 249A (2).
b) Trustees have not required the company to obtain an audit in accordance with section 249B (2).
c) The trustees acknowledge their responsibility for:
i) ensuring the company keeps accounting records which comply with section 221 and
ii) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss at the end of the financial year in accordance with the requirements of section 226, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.
(d) The accounts have been prepared in accordance with the special provisions of the Companies Act 2006 relating to small companies.
In doing so, the trustees have:
-
Selected suitable accounting policies and then applied them consistently
-
Made judgments and estimates that are reasonable and prudent
-
Prepared financial statements on the going concern basis, it being appropriate to presume that the charity will continue in business
-
Exercised their responsibility for maintaining proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the charity and enables them to ensure that the financial statements comply with the Companies Act 2006
-
The trustees have also safeguarded the assets of the charity and taken reasonable steps for the prevention of fraud and other irregularities
The trustees gave their time voluntarily and received no benefit from the charity.
By order of the trustees,
Simon Springett Chaplain RNR Chair of Trustees 12[th] September 2022
Trustees’ Annual Report for year ended 31 December 2021 Page 5
Naval & Military Bible Society
Trustees’ Annual Report for year ended 31 December 2021
Naval & Military Bible Society Statement of Financial Activities
Year Ending 31[st] December 2021
| ear Ending 31st December 2021 | ||||
|---|---|---|---|---|
| Year ended 31 December 2021 | Year ended 31 December 2020 | |||
| Incoming Resources | ||||
| £ | £ | £ | £ | |
| Donations | ||||
| Donors - Regular | 7730 | 12025 | ||
| Donors - Non-Regular | 12070 | 19800 | 11812 | 23837 |
| Gift Aid Tax Refund/CVJRS | 9874 | -330 | ||
| Donations | ||||
| MOD | 15255 | 65106 | ||
| Non-MOD | 106987 | 87977 | 153083 | |
| Total Donations | 122242 | 176590 | ||
| Trusts & Legacies | 0 | 0 | ||
| Other Gifts | 0 | 2428 | ||
| Interest Receivable | 0 | 1 | ||
| Total Incoming Resources | £151,915 | £179,019 | ||
| Resources Expended | ||||
| Charitable Expenditure | ||||
| Distribution Costs | ||||
| Purchase of Literature | 93182 | 73048 | ||
| Storage & Distribution | 1059 | 94241 | 819 | 73867 |
| Salaries & Pension | 50762 | 53113 | ||
| Travel | 6972 | 8971 | ||
| Insurance | 457 | 650 | ||
| Administration Expenses | ||||
| Rent/Charitable Donations | 4200 | 4321 | ||
| IT Costs | 2290 | 2325 | ||
| Office Expenses | 0 | 0 | ||
| Stationery | 0 | 0 | ||
| Telephone | 197 | 537 | ||
| Postage | 3 | |||
| Refresh & Entertainment | 0 | 0 | ||
| Website | 3324 | 3742 | ||
| Subscription Fees | 1200 | |||
| Other Expenses | 506 | 200 | ||
| Depreciation | 20 | 10536 | 94 | 12422 |
| Management & Admin Costs | ||||
| Legal fees | 920 | 0 | ||
| Accountancy | 86 | 435 | ||
| Audit Fees | 180 | 1186 | 180 | 615 |
| Total Expenditure | £164,154 | £149,638 | ||
| Net Expenditure for the Year | -12239 | 29381 | ||
| Total Funds Brought Forward | 49468 | 20087 | ||
| Total Funds Carried Forward | £37,229 | £49,468 |
Trustees’ Annual Report for year ended 31 December 2021 Page 6
Naval & Military Bible Society
Trustees’ Annual Report for year ended 31 December 2021 (continued)
Naval Military & Air Force Bible Society Balance Sheet as at 31 December 2021
| Fixed assets Furniture and equipment: cost : depreciation Current assets Debtors and prepayments Bank accounts Petty cash less: Current liabilities Creditors and accrued charges General Fund |
31 December 2021 £ £ 470 467 3 4370 33012 24 37406 180 37226 |
31 December 2021 £ £ 470 467 3 4370 33012 24 37406 180 37226 |
31 December 2020 £ £ 470 447 23 135 49913 24 50072 627 49445 |
31 December 2020 £ £ 470 447 23 135 49913 24 50072 627 49445 |
|---|---|---|---|---|
| 467 | 447 | |||
| 4370 33012 24 |
135 49913 24 |
|||
| 37406 | 50072 | |||
| 180 | 627 | |||
| 37229 | 49468 | |||
| £37,229 | £49,468 |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies’ regime.
Simon Springett Chaplain RNR Chair of Trustees 12 September 2022
Trustees’ Annual Report for year ended 31 December 2021 Page 7
Naval & Military Bible Society
Trustees’ Annual Report for year ended 31 December 2021 (continued)
1. Accounting policies
Basis of preparation
The accounts are prepared under the historical cost convention in accordance with the Statement of Recommended Practice (FRS 102) – Accounting and Reporting by the Charities Act 2011 and other appropriate accounting standards.
Incoming resources
Donations and legacies
All income from donations and legacies is accounted for on an accruals basis. This policy is applied to legacy income where the amounts and timing of receipts can be accurately ascertained. Tax credits on Gift Aid donations and on income from legacies have also been recorded on an accruals basis.
Charitable activities
In accordance with the primary objective of the Society, printing and distribution costs are written off to revenue when incurred. These costs represent the direct cost of the Society’s charitable activities.
Effects of Covid-19 restrictions
The COVID-19 pandemic continued to affect the Society, with a fall income during the year. Given the continued increase for demand for our products the Advocacy Officer was utilised more by varying the amount of time she spent on furlough. This government’s furlough scheme proved to be a lifeline to the Society’s finances throughout the pandemic, enabling it to maintain the output required.
Administration expenses
These are the costs incurred in the management, finance and general administration of the Society’s activities. It is not meaningful to apportion these costs by activity, which is a general requirement of SORP (FRS 102), as the Trust has only one principal activity.
Stocks and work in progress
Substantial stocks were on hand as at 31 December 2021 was £129,000. The stock replacement value has not been included in the accounts.
Governance costs
These are the costs incurred other than in day-to-day administration of the Society such as legal fees and the fees of the independent examination. The Society effectively only has one activity, so all costs are related to this.
Trustees were offered claim forms for expenses and made claims where appropriate. Trustees receive no remuneration for time. Trustee donations were £2,228.
Trustees are generally recruited through personal introductions, but enquiries (to the Chair of Trustees) from supporters who wish to explore whether they could serve in this way are always welcome. A skills audit was conducted in-year, to ensure balance and cover of necessary skills.
Aggregate employee benefits are disclosed in the statement of financial activities.
Trustees’ Annual Report for year ended 31 December 2021 Page 8
Naval & Military Bible Society
Restricted Funds
No restricted funds were received during the year.
Going Concern
Whilst finances are tight, there are no material uncertainties about the charity’s ability to continue.
Tangible fixed assets
Individual fixed assets costing £250 or more are capitalised.
All furniture and equipment is held as operating assets.
Depreciation is provided for at the following annual rates on a straight-line basis:
-
Furniture and equipment between 10% and 20%
-
Computers 33%
Creditors and accrued charges
----- Start of picture text -----
2021 2020
£ £
Trade creditors 0 0
Other creditors and accrued charges 180 447
2. Commitments
2021 2020
£ £
Capital commitments Nil Nil
----- End of picture text -----
Trustees’ Annual Report for year ended 31 December 2021 Page 9
Naval & Military Bible Society
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
I report on the accounts of the company for the year ended 31st December 2021, which are set out on pages 6 to 10.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of accounts. The 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. I am qualified to undertake the examination being a member of the Association of Chartered Certified Accountants.
Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
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 a 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:
-
(1) 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 386 of the Companies Act 2006 and;
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b. to prepare accounts which accord with the accounting records, comply with the accounting requirement of section 396 of the Companies Act 2006 and with the accounting requirements of the Charities Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed Electronically 12[th] September 2022
Clifford Fry & Co St Mary’s House Netherhampton Salisbury SP2 8PU
Trustees’ Annual Report for year ended 31 December 2021 Page 10