TNT MINISTRIES
Report and Accounts Year ended 05 April 2021
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
TNT MINISTRIES
LEGAL AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 05 APRIL 2021
ADDRESS FOR CORRESPONDENCE Hammonds East Street Billingshurst RH14 9DA GOVERNING DOCUMENT Declaration of Trust dated 11th July 2003 CHARITY REGISTRATION NUMBER 1102864 TRUSTEES RESPONSIBLE FOR Iain Taylor MANAGING THE CHARITY Allen Cope Rupert Brindley BANKERS Royal Bank of Scotland plc TSB Bank plc INDEPENDENT EXAMINER Jaimée Young Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
INDEX
Page 1 Legal and Administrative Details Pages 2-4 Trustees' Report Page 5 Independent Examiner's Report Page 6 Receipts and Payments Account Page 7 Statement of Assets & Liabilities Pages 8-9 Notes to the Accounts
Page 1
TNT MINISTRIES
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 05 APRIL 2021
The Trustees have pleasure in submitting the Report and Accounts for the year ended 05 April 2021.
Objects of the charity
The charity, governed by a trust deed, seeks to demonstrate the Christian faith in action by providing Bible-centred teaching materials and training to UK and international churches, theological colleges, para-church organisations and children/youth groups.
Summary of the charity's main activities and achievements
To further the above objects and vision, the charity's main activities and achievements were as follows:
– Publishing Over the past year we have published the following products in the Mustard Seeds range for 3-11 year olds:
-
Two new products in English: 'Daniel' and 'Ezra-Nehemiah'. This completes the four-year 3-11s syllabus in the Mustard Seeds range.
-
Full translations of ten products in French, five in Italian, seventeen in Arabic, one in Latvian and two in Kinyarwanda.
-
Fifteen language packs to support existing English publications. These are in various languages including: Arabic, Italian, Latvian, Portuguese, Greek, and Serbian.
We launched a new Arabic portal on our website to provide free access to all our Arabic resources. This portal requires registration and is the first step in our vision to develop a training network across the Middle-East.
The translation portal was updated and now includes access to an online translation platform. This speeds up the translation process and we hope to have all our resources translated into Italian and French in the coming year.
Training – Covid-19 has effectively completely shut down our in-person training and resulted in about £10,000 loss in training revenue. We ventured into virtual and ran only six online events.
The purpose of the training events is to equip adults to teach the Bible to children. This is in line with TnT's stated objectives. The training supports our publishing work by providing an opportunity to train those already using our resources as well as making our resources known to a broader audience.
In planning the activities, the Trustees have given consideration to the guidance provided by the Charity Commission on public benefit.
Staff
Our staff compliment reduced by one this past year. We now have one full-time and one part-time worker.
Page 2
Financial review
During the year income decreased by £2,900, to £114,700, and expenditure decreased by £18,700, to £80,900. As a result the cash held by the charity increased by £33,800, to £123,100, of which £121,600 is unrestricted and can be used for any charitable purpose.
The accounts for the year show a surplus of £33,800, which is an improvement on last year's surplus of £17,957. This increase was despite the loss in training revenue and mainly due to reduced staff costs and increased revenue from website subscriptions.
Total gift income (inclusive of tax relief) increased marginally from £53,440 to £56,854. This includes £1,500 of support for our new Arabic Trainer project, with a further £16,000 pledged for when the project commences (which we have yet to receive).
Revenue on Mustard Seeds downloadable resources increased 8% from £51,480 to £55,780. Revenue from training services and conferences decreased from £10,560 to just £690 due to Covid-19 restrictions.
TnT Ministries continues to be a going concern.
Impact of Covid-19
Travel restrictions massively impacted our ability to provide in-person training. However, this is not a long term problem, and we expect to resume in-person training once the restrictions cease. The impact of lockdowns on churches only marginally affected subscriptions to our resources, with a 5% decrease in subscriptions during the first national lockdown in the UK. Subscription rates subsequently increased 14%, making the rate 9% higher than before the pandemic – this is reflected in the increased revenue. Loss in revenue from training due to Covid is estimated to be £10,000. No other significant expenses were incurred due to Covid.
Reserves policy
The Trustees have determined that the charity should aim to hold unrestricted cash of no less than £18,000 (which equates to about 3 months' of unrestricted expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash of £121,600. The board is currently exploring ways in which these excess funds may be used to further the aims of the charity both in the UK and abroad.
Governance
The policy and operating decisions of the charity rest with the Trustees who meet regularly to monitor the activities of the Trust. A Board of Governors, comprising trustees, expert technicians and the employees are responsible for the implementation of the Trustees' decisions. New Trustees may be appointed by a resolution of the Trustees passed by a majority of the Trustees.
Risk statement
The trustees have reviewed the risks to which a small charity operating with three employees in areas of education and The Children Act of 1989 are exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.
Page 3
Responsibilities of trustees
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Approval
This report was approved by the trustees and signed on their behalf by:
Dr Iain Harold Taylor Chairman – TnT Ministries
Date: 17 July 2021
Page 4
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
TNT MINISTRIES
I report to the trustees on my examination of the accounts of TNT Ministries ('the charity') for the year ended 05 April 2021 on pages 6 to 9 following.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in accordance with section 130 of the 2011 Act; or
- the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jaimée Young
Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: 03 August 2021
Page 5
TNT MINISTRIES
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 05 APRIL 2021
| Unrestricted | Funds | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| General | Designated | Restricted | Total | Total | |||||||||
| Funds | Funds | Funds | 2021 | 2020 | |||||||||
| Notes | £ | £ | £ | £ | £ | ||||||||
| Income receipts | |||||||||||||
| Donations | 49,160 | - | 1,500 | 50,660 | 47,027 | ||||||||
| Gift aid receipts | 6,194 | - | - | 6,194 | 6,413 | ||||||||
| Training fees and | sales materials | 2 | 56,510 | - | - | 56,510 | 62,596 | ||||||
| Interest received | 131 | - | - | 131 | 306 | ||||||||
| Royalties | 1,171 | - | - | 1,171 | - | ||||||||
| Other | 62 | - | - | 62 | 1,257 | ||||||||
| Total receipts | 113,227 | - | 1,500 | 114,727 | 117,599 | ||||||||
| Payments | |||||||||||||
| Payments in relation to activities undertaken directly |
charitable | 3 | 80,927 | - | - | 80,927 | 99,643 | ||||||
| Total payments | 80,927 | - | - | 80,927 | 99,643 | ||||||||
| Net of receipts transfers |
/ | (payments) | before | 32,300 | - | 1,500 | 33,800 | 17,957 | |||||
| Transfers between funds | 5 | - | - | - | - | - | |||||||
| Net movement in funds | 32,300 | - | 1,500 | 33,800 | 17,957 | ||||||||
| Cash funds as at | last | year end | 89,298 | - | - | 89,298 | 71,341 | ||||||
| Cash funds at this year end | A | 121,598 | - | 1,500 | 123,098 | 89,298 |
The notes on pages 8 - 9 form part of these accounts.
Page 6
TNT MINISTRIES
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 05 APRIL 2021
| A Cash funds Held at bank Notice deposits B Other monetary assets Gift aid due to charity Other debtors C Liabilities Falling due within one year: Pension due Fee for Independent Examination Accrued expenses D Assets retained for charity's own use Contents and equipment |
General Designated funds funds £ £ 70,420 - 51,178 - 121,598 - 5,818 - - - 5,818 - 330 - 1,050 - 110 - 1,490 - Unrestricted Funds |
Restricted funds £ 1,500 - 1,500 375 - 375 - - - - |
Total 2021 £ 71,920 51,178 123,098 6,193 - 6,193 330 1,050 110 1,490 Value 2021 £ 4,823 4,823 |
Total 2020 £ |
|---|---|---|---|---|
| 38,250 51,047 |
||||
| 89,298 | ||||
| 6,194 162 |
||||
| 6,356 | ||||
| 324 1,050 100 |
||||
| 1,474 | ||||
| Value 2020 £ |
||||
| 7,157 | ||||
| 7,157 |
The trustees have used insurance values as the trustees are unable to reliably estimate current values; insurance values may differ materially from current values.
The accounts were approved by the trustees and signed on their behalf
by date Dr Iain Harold Taylor 17 July 2021 Chairman – TnT Ministries
The notes on pages 8 - 9 form part of these accounts.
Page 7
TNT MINISTRIES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 05 APRIL 2021
1 Accounting policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
| 2 Training fees and sales materials Training services Conferences Downloads Other |
Unrestrict | Designated funds £ - - - - - ed Funds |
Restricted Funds £ - - - - - |
Total 2021 £ 690 - 55,779 41 56,510 |
Total 2020 £ |
|
|---|---|---|---|---|---|---|
| General funds £ 690 - 55,779 41 56,510 |
||||||
| 2,795 7,763 51,472 567 |
||||||
| 62,596 |
| 3 Payments in relation to charitable activities undertaken directly Employment costs (including training) Travel Insurance Telephone and internet Website hosting and development Governance Production costs Equipment purchases & computer Office running costs Bank and finance charges Other general expenditure |
Unrestrict | Designated funds £ - - - - - - - - - - - - ed Funds |
Restricted Funds £ - - - - - - - - - - - - |
Total 2021 £ 63,607 22 636 437 5,793 5,828 879 1,255 124 2,332 14 80,927 |
Total 2020 £ |
|
|---|---|---|---|---|---|---|
| General funds £ 63,607 22 636 437 5,793 5,828 879 1,255 124 2,332 14 80,927 |
||||||
| 81,225 3,466 567 210 6,318 1,332 2,461 704 316 2,568 478 |
||||||
| 99,643 |
4 Transactions with related parties
No payments were made to any trustees, or persons connected to trustees, other than direct reimbursement of expenses paid on behalf of the charity.
Page 8
TNT MINISTRIES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 05 APRIL 2021
Movement of funds General funds Restricted funds Partnership funds Total funds
| Balance at 05Apr2020 £ 89,298 89,298 - - 89,298 |
Receipts £ 113,227 113,227 1,500 1,500 114,727 |
Payments £ (80,927) (80,927) - - (80,927) |
Transfers £ - - - - |
Balance at 05Apr2021 £ 121,598 |
|---|---|---|---|---|
| 121,598 | ||||
| 1,500 | ||||
| 1,500 | ||||
| 123,098 |
Page 9