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2023-03-31-accounts

Company registration number: 5106763 Charity registration number: 1105015

ALL NATIONS (A company limited by guarantee and not having share capital)

REPORT OF THE TRUSTEES & CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Azets Audit Services

Chartered Accountants & Statutory Auditors Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB

ALL NATIONS YEAR ENDED 31 MARCH 2023

Contents Page
Report of the Trustees 1 - 7
Auditors’ Report 8 - 10
Consolidated Statement of Financial Activities 11
Consolidated Balance Sheet 12
Balance Sheet – Charity Only 13
Cash Flow Statement 14
Notes to the Financial Statements 15 - 32

ALL NATIONS REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2023

The trustees who are also directors of the charity are pleased to present their annual trustees’ report together with the consolidated financial statements of the charity and its subsidiary for the year ending 31 March 2023, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements have been prepared under the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

REFERENCE AND ADMINISTRATIVE DETAILS

Charity Name All Nations
Company Registration Number 5106763
Charity Registration Number 1105015
Registered Office All Nations Centre
Sachville Avenue
Heath
Cardiff
Cardiff
CF14 3NY
Trustees M K Clemo
T P Erlenbach
A T Guy
Principal Bankers Barclays Bank plc
2 Windsor Road
Penarth
CF64 1YL
Auditors Azets Audit Services
Chartered Accountants & Statutory Auditors
Ty Derw
Lime Tree Court
Cardiff Gate Business Park
Cardiff
CF23 8AB

1

ALL NATIONS REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. For the purposes of company law, the trustees as noted above are also directors of the undertaking.

Recruitment and appointment of new trustees

Trustees are appointed in conjunction with the elders of All Nations Church and the other trustees.

Induction and training of new trustees

There is no formal induction training, trustees are always members of All Nations Church and so are aware of the goals and aims of the charity. Their roles and responsibilities are communicated verbally and through the use of leaflets from the Charity Commission.

Organisational structure

There is an apostle who has oversight of the church. Elders are appointed by him and in conjunction with the other elders and members of the church. The elders work alongside the apostle and have a particular area of responsibility. The elders have oversight of the members of the church and work with the trustees to ensure that the aims and objectives are met.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Wider network

All Nations Church is part of a worldwide network of churches who work closely with another charity, Ministries Without Borders International.

Related parties

All Nations Church is the holding company of a trading subsidiary company called Kairos Ventures Limited, the principal activity of which is the hiring and managing of conference facilities.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees of the charity are continually developing the system of assessing on a regular basis the major risks to which the charity is exposed. The examination covers the major strategic, business and operational risks which the charity faces. The reporting system so established enables regular reports being produced so that any necessary steps can be taken to mitigate exposure to these risks. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

The risk management strategy comprises:-

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. These procedures are reviewed and updated to mitigate any known risks. Procedures are in place to minimise any financial risks. In connection with working with children and vulnerable adults, all such workers undergo a mandatory DBS check.

2

ALL NATIONS REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2023

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives and aims of the charity are the advancement of the Christian faith and, in particular, charitable missionary work within the United Kingdom and worldwide; to relieve people who are in conditions of need or hardship or who are aged or sick; and to provide and fulfil such other charitable purposes as the trustees may from time to time think fit.

Significant activities

The charity is actively engaged in the promotion of the Christian Gospel, in the UK and throughout the world, and helping those in need.

Volunteers

Volunteers are used to help to achieve the aims and objectives of the charity but not to generate income.

ACHIEVEMENT AND PERFORMANCE

Charitable activities undertaken during financial year 1 April 2022 to 31 March 2023

3

ALL NATIONS REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2023

• Joseph fund

• Poor & needy

• Students work.

• Youth work

4

ALL NATIONS REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2023

FINANCIAL REVIEW

Reserves policy

The trustees of the charity in accordance with good accounting practice and professionalism are developing the reserves policy. This is in line with the commitment to adhere to the principles, practices and recommendations of Accounting and Reporting by Charities: Statement of Recommended Practice (effective 1 January 2019).

The reserves policy outlines:

There are a number of reasons why the charity may require reserves:

All Nations’ Church will ensure that at all times that it has reserves equivalent to 3 times its monthly salary and support costs available.

Principal funding sources

The charity is funded primarily from donations from the church members. In addition, gift aid is claimed on all relevant donations. Gift aid donations are also made by Kairos Ventures Limited.

PUBLIC BENEFIT

The charity has achieved its aim of advancing the gospel through its evangelism programme and by the training and teaching of the church members, by the provision of activities for all ages and its involvement in community programmes. This has been to the benefit of its members and the wider community. All Nations Centre and the Life Lounge are places where the church members can gather and where church and community activities can take place. The church building is open on a daily basis for those in need of support. Youth and student events have been held as well as a number of community social events, all of which are open to the wider community.

Weekly Sunday services have been conducted at All Nations Centre and marriage and funeral services. Events are held on a regular basis for the benefit of the community, these include children and youth groups, meetings for the elderly and events for students as well as events for the whole family. A number of initiatives have been run which seek to help those in need in the immediate vicinity.

Groups meet in homes across the city for the benefit of the church members and the whole community. Food and support is provided where required as well as fun and friendship. The charity has achieved its aim to provide assistance for those in need, both in the local community and further afield by supporting those in need financially and by providing, food, clothing and equipment as required.

5

ALL NATIONS REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2023

PUBLIC BENEFIT (continued)

Events have been held to raise funds for local and national charities and many members of the church family have participated.

Support has been provided to patients and families in the University Hospital of Wales, especially the families of young children and those who have been bereaved. Gifts have been provided at Christmas and Easter for children in hospital during these seasons.

In summary, community is at the heart of all the activities and events of the charity and it has been able to fulfil its public benefits requirement completely.

6

ALL NATIONS REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2023

Trustees’ responsibilities in relation to the financial statements

The trustees (who are also directors of All Nations for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Board of Trustees and signed on behalf of the Board

......................................... M Clemo

………….. …………………… T Erlenbach

7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ALL NATIONS FOR THE YEAR ENDED 31 MARCH 2023

Opinion

We have audited the financial statements of All Nations (the ‘parent charitable company’) and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the consolidated and parent Statement of Financial Activities, the consolidated and parent Balance Sheet, the consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report , other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ALL NATIONS FOR THE YEAR ENDED 31 MARCH 2023

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the groups and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidancefor-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ALL NATIONS FOR THE YEAR ENDED 31 MARCH 2023

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

John Howard

Senior Statutory Auditor

For and on behalf of Azets Audit Services

Chartered Accountants & Statutory Auditors Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB

Date......................................

Azets Audit Services is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

10

ALL NATIONS CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating the INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Note
Unrestricted
funds
£
Income and endowments from:
Donations and legacies
3
607,351
Charitable activities
4
527,545
Other trading activities
5
43,406
Other
6
50,845
Total income and endowments
1,229,147
Expenditure on:
Raising funds
364,765
Charitable activities
7
923,415
Other
13,766
Corporation tax
(624)
Total expenditure
1,301,322
Net income/(expenditure)
10
(72,176)
Transfers between funds
22,23
-
Net movement in funds
(72,176)
Reconciliation of Funds
Total funds brought forward
22,23
1,976,266
Total funds carried forward
23,24
1,904,090		 Restricted
funds
£
-
-
-
-
-
-
68,677
-
-
68,677
(68,677)
-
(68,677)
2,259,616
2,190,939		 Total
funds
2023
£
607,351
527,545
43,406
50,845
1,229,147
364,765
992,092
13,766
(624)
1,369,999
(140,853)
-
(140,853)
4,235,882
4,095,029		 Total
funds
2022
£
567,429
81,471
177,813
503,344
1,330,057
218,410
922,453
7,430
(39,285)
1,109,008
221,049
-
221,049
4,014,833
4,235,882

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 15 to 32 form part of the financial statements

11

ALL NATIONS CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023

Note
Fixed assets:
Tangible assets
16
Current assets:
Stocks
Debtors
19
Cash at bank and in hand

Liabilities:
Creditors: Amounts falling due
within one year
20
Net current assets
Total assets less current liabilities
Provisions for liabilities
21
Net assets
The funds of the charity:
Restricted income funds
22
Unrestricted funds
23
Total charity funds		 2023
£
£
3,019,231
3,477
108,032
1,077,714
1,189,223
(108,337)
1,080,885
4,100,116
(5,087)
4,095,029
1,904,090
2,190,939
4,095,029		 2022
£
£
3,133,651
1,592
105,903
1,048,705
1,156,200
(48,327)
1,107,874
4,241,525
(5,643)
4,235,882
2,259,616
1,976,266
4,235,882		 2022
£
£
3,133,651
1,592
105,903
1,048,705
1,156,200
(48,327)
1,107,874
4,241,525
(5,643)
4,235,882
2,259,616
1,976,266
4,235,882
4,241,525
(5,643)
4,235,882
2,259,616
1,976,266
4,235,882

These financial statements were approved by the Board of Directors/Trustees on .........................

......................................... ………….. …………………… M Clemo T Erlenbach Company number 5106763

The notes on pages 15 to 32 form part of the financial statements

12

ALL NATIONS

BALANCE SHEET – CHARITY ONLY AS AT 31 MARCH 2023

Note
Fixed assets:
Tangible assets
16
Investments
17
Current assets:
Debtors
19
Cash at bank and in hand
Liabilities:
Creditors: Amounts falling due
within one year
20
Net current assets
Net assets
The funds of the charity:
Restricted income funds
23
Unrestricted funds
24
Total charity funds		 2023
£
£
2,814,505
102
2,814,607
54,884
1,008,837
1,063,721
(35,580)
1,028,141
3,842,748
2,190,938
1,651,810
3,842,748		 2022
£
96,139
660,131
756,270
(11,107)
£
2,906,400
102
2,906,502
745,163
3,651,665
2,259,616
1,392,049
3,651,665

These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small charitable companies.

During the year, the individual charity incurred a surplus of £191,083 (2022 deficit - £124,732).

These financial statements were approved by the Board of Directors/Trustees on .........................

......................................... ……………………………………………… M Clemo T Erlenbach Company number 5106763

The notes on pages 15 to 32 form part of the financial statements

13

ALL NATIONS CASH FLOW STATEMENT - CONSOLIDATED FOR THE YEAR ENDED 31 MARCH 2023

Note
Net cash used in operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property plant and equipment
Net cash provided by investing activities
Cash flows from financing activities:
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period		 2023
£
31,177
(4,948)
2,780
(2,168)
-
-
29,009
1,048,705
1,077,714		 2022
£
232,379
-
-
-
-
-
232,379
816,326
1,048,705

The notes on pages 15 to 32 form part of the financial statements

14

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

Legal form and address

All Nations is a private company limited by guarantee incorporated in England and Wales. The registered office is All Nations Centre, Sachville Avenue, Heath, Cardiff, CF14 3NY.

Basis of preparation

The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiary Kairos Ventures Limited on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the Charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the group and the charity have adequate resources to continue in operational existence for the foreseeable future as the charity’s main funding continues. The defined benefit pension liability will not crystallise in the short term, therefore the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the board in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

15

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (continued)

Income recognition

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income from grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred

No amounts are included in the financial statements for services and time donated by volunteers. Interest on funds is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Expenditure is classified under the following activity headings:

a. 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.

b. Governance costs included in support costs are those cost associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity.

c. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of resource. Costs relating to a particular activity are allocated directly.

Taxation

As a registered charity All Nations is entitled to the exemption from taxation in respect of income and capital gains received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects’ purposes only.

The subsidiary undertaking pays standard rate of tax on those profits remaining following the payment of the gifts aid donation to the holding parent charity.

16

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (continued)

Fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses or in cases where fixed assets have been donated to the charity, at valuation at time of acquisition.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Land and buildings – 2% on cost Improvements to leasehold – at varying rates on cost Plant and machinery etc - 25% and 10% on reducing balance. Fixtures and fittings - 25% reducing balance. Motor vehicles - 25% reducing balance. Computer equipment - 25% reducing balance.

Assets costing £2,000 or more, where they represent fixed assets, will be capitalised in the annual financial statements.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate .

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

17

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (continued)

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Pensions

The charity operates a defined contribution scheme. Payments to the defined contribution retirement benefit scheme are charged as an expense as they fall due.

Concessionary Loans

The charity provides interest free loans to other churches and institutions, these loans are not made solely to achieve a financial return but wholly to advance charitable purposes for the benefit of the charity's beneficiaries and are deemed as social investments.

These loans carry no formal repayment terms and are deemed repayable on demand, as a result the carrying amount of these loans has not been adjusted to fair value and are shown as other debtors due in less than one year.

18

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application of charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. INCOME FROM DONATIONS AND LEGACIES

Unrestricted
funds
Restricted
funds
£
£
Tithe
422,754
-
Gift aid
86,822
-
Poor and Needy
4,439
-
Offering
93,335
-
607,351
-		 Total
2023
£
422,754
86,822
4,439
93,335
607,351		 Total
2022
£
385,783
94,280
87,366
567,429

4. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
funds
£
Non–ANC events and special
offerings
Special offering, missions and bible
week
43,406
43,406		 Restricted
funds
£
-
-		 Total
2023
£
43,406
43,406		 Total
2022
£
81,471
81,471

19

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. INCOME FROM OTHER TRADING ACTIVITIES

Hire of facilities and provision of
meals
Solar energy rebate
Rental income
Bank interest
6.
INCOME FROM OTHER SOURCES
CJRS grants
Government grants
Sundry income
Insurance claim (subsidiary loss of
profits)
Recharges of salaries and utilities		 Unrestricted
funds
Restricted
funds
£
£
478,520
-
9,140
-
39,732
-
154
-
527,545
-
Unrestricted
funds
Restricted
funds
£
£
-
-
-
-
50,844
-
-
-
-
-
50,844
-		 Total
2023
£
478,520
9,140
39,732
154
527,545
Total
2023
£
-
-
50,844
-
-
50,844		 Total
2022
£
140,183
17,216
20,402
12
177,813
Total
2022
£
36,527
18,750
32,094
406,691
9,282
503,344
7.
EXPENDITURE ON RAISING FUNDS: - COST OF GOODS SOLD AND OTHER
Unrestricted
funds
Restricted
funds
£
£
Direct costs
-
-
Overheads
364,765
-
364,765
-		 COSTS
Total
2023
£
-
364,765
364,765		 Total
2022
£
3,233
215,177
218,410

Included in overhead costs above are staff costs in relation the subsidiary company totalling £297,126 (2022: £190,137). See note 11.

20

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. EXPENDITURE ON CHARITABLE ACTIVITIES

The advancement of
the Christian faith
and the relief of
suffering		 Direct costs
Grants
funding of
activities
(see note 9)
Support costs
(see note 11)
£
£
£
649,860
150,723
191,508
649,860
150,723
191,508		 Total
2023
£
992,092
992,092		 Total
2022
£
922,453
922,453

Direct costs include a depreciation charge of £68,677 which is restricted.

Included in directs costs above are staff ministry support costs in relation to the charity totalling £149,500 (2022: £147,475). See note 11.

9. GRANTS PAYABLE

ft aid and individual donations

Total Total
2023 2022
£ £
150,723 99,431

10. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL

Raising funds
Charitable
activities
£
£
Salaries and wages
207,225
211,884
Social security costs
14,649
18,649
Pension costs
5,699
9,030
227,573
239,563		 Total
2023
£
419,109
33,298
14,729
467,136		 Total
2022
£
363,265
22,685
12,226
398,176

21

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11. STAFF NUMBERS

Management and administration – Raising funds
Casual workers – Raising funds
Management and administration – Charitable activities		 2023
No
10
5
10
25		 2022
No
7
9
9
25

There were no employees who received total employee benefits of more than £60,000.

Ministry Support

T Erlenbach (trustee) was in receipt of ministry support (including expenses) amounting to £51,500 (2022: £51,500).

Other ministry support for the year amounted to £98,000 (2022: £95,975)

12. SUPPORT COSTS

Management
£
The advancement of
the Christian faith
and the relief of
suffering
163,910
163,910		 Finance
£
1,190
1,190		 Other
£
26,408
26,408		 Total
2023
£
191,508
191,508		 Total
2022
£
232,659
232,659

22

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. NET INCOME/(EXPENDITURE) FOR THE YEAR

This is stated after charging:

his is stated after charging:
2023 2022
£ £
Auditors’ remuneration:
Audit fees 13,766 7,430
Depreciation -owned assets 115,828 105,104

14. TRUSTEES REMUNERATION AND BENEFITS

Trustees’ remuneration

No remuneration was paid the trustees in their capacity as trustee during the year (2022: £nil).

Trustee expenses

Charity trustees received reimbursement for expenses incurred for work on behalf of the charity, which amounted to £nil (2022: £nil) for the year. Provision for such payments is given in the governing document of the charity.

15. TAXATION – GROUP AND CHARITY

As a registered charity, All Nations is entitled to the exemption from taxation in respect of income and capital gains received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects’ purposes only.

The subsidiary, Kairos Ventures Limited, had no corporation tax charges for the period.

23

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Group
Cost
At 1 April 2022
Additions in year
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for year
Disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
Charity
Cost
At 1 April 2022
Additions in year
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for year
Disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Land and
buildings
£
4,457,002
-
-
4,457,002
1,379,426
104,208
-
1,483,634
2,973,368
3,077,576
Land and
buildings
£
4,230,118
-
-
4,230,118
1,350,092
84,602
-
1,434,694
2,795,424
2,880,026		 Plant &
Machinery
etc
£
323,650
4,948
(12,490)
316,108

267,574
11,620
(8,950)
270,244

45,864
56,076
Plant &
Machinery
etc
£
131,992
-
(12,490)
119,502

105,618
3,752
(8,950)
100,420

19,082
26,374		 Total
£
4,780,652
4,948
(12,490)
4,773,110
1,647,000
115,828
(8,950)
1,753,878
3,019,232
3,133,652
Total
£
4,362,110
-
(12,490)
4,349,620
1455710
88,354
(8,950)
1,535,114
2,814,506
2,906,400

24

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. INVESTMENTS

NVESTMENTS
Shares in
group
undertakings
Charity £
Cost as at 31 March 2022 102
Cost as at 31 March 2023 102
There were no investment assets outside the UK.

18. TRADING SUBSIDIARY

Kairos Ventures Limited

The company owns 100% of the issued ordinary share capital of Kairos Ventures Limited, a company incorporated on the.

The results of the company for the year ended 31 March 2023 can be found below:

Turnover
Cost of sales and administration costs
Operating profit
Other income
(Loss)/profit for the year
Assets and liabilities:
Total assets
Total liabilities
Net assets
Aggregate share capital and reserves		 Total
2023
£
552,309
(494,345)
57,964
57,964
349,486
(97,104)
252,382
252,382		 Total
2022
£
647,074
(233,587)
413,487
-
413,487
672,039
(87,722)
584,317
584,317

25

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19. DEBTORS

DEBTORS
Amounts falling due within one year:
Trade debtors
Other debtors
Amounts falling due after more than
one year:
Other debtors
Aggregate amounts		 Group
2023
2022
£
£
73,244
46,249
34,788
50,245
108,032
96,494
-
9,409
-
9,409
108,032
105,903		 Company
2023
2022
£
£
20,684
47,005
34,200
39,725
54,884
86,730
-
9,409
-
9,409
54,884
96,139
86,730
9,409
9,409
96,139

20. CREDITORS – AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Taxation and social security
Other creditors		 Group
2023
2022
£
£
11,558
11,244
43,039
17,930
53,740
19,153
108337
48,327		 Company
2023
2022
£
£
4,294
-
6,851
4,909
24,434
6,198
35,580
11,107		 Company
2023
2022
£
£
4,294
-
6,851
4,909
24,434
6,198
35,580
11,107
11,107
21.
PROVISIONS FOR LIABILITIES
Deferred tax
Balance at 1 April 2022
Accelerated capital allowances
Balance at 31 March 2023		 Group
2023
2022
£
£
5,087
5,643
5,643
44,928
(556)
(39,285)
5,087
5,643		 Company
2023
2022
£
£
-
-
-
-
-
-
-
-		 Company
2023
2022
£
£
-
-
-
-
-
-
-
-
-

26

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22. RESTRICTED FUNDS

.
RESTRICTED FUNDS
Undistributable capital reserve fund
Previous year
Undistributable capital reserve fund		 Balance at
1 April
2022
£
2,259,616
2,259,616
Balance at
1 April
2021
£
2,328,292
2,328,292		 Income
Expenditure
£
£
-
68,677
-
68,677
Income
Expenditure
£
£
-
68,676
-
68,676		 Transfers
£
-
-

Transfers
£
-
-
 Balance at
31 March
2023
£
2,190,939
2,190,939
Balance at
31 March
2022
£
2,259,616
2,259,616

The capital reserve fund, relates to donations and funding that has been used to acquire and renovate the All Nations Centre.

Depreciation is being charged against the costs in line with the accounting policy.

27

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

23. UNRESTRICTED FUNDS

Poor
Building
Tithe accounts
Tithe gift aid
Offering account
Offering gift aid
Kairos gift aid
Fixed assets
House
Jospeh fund
Non ANC
Fund retained within
subsidiary
 Balance at
1 April
2022
£
48,270
10,535
77,076
41,836
89,998
44,671
359,514
566,444
47,500
106,205
-
584,217
1,976,266		 Income
Expenditure
£
£
21,793
(13,974)
39,732
(16,420)
455,354
(426,999)
18,787
(41,881)
121,068
(119,023)
3,156
(9,635)
390,523
(113,396)
-
(20,437)
-
-
597
(29,485)
41,640
(41,640)
552,309
(884,244)
1,644,960
(1,717,136)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2023
£
56,089
33,846
105,431
18,742
92,043
38,192
636,641
546,007
47,500
77,317
-
252,282
1,904,090

Previous year

Poor
Building
Tithe accounts
Tith gift aid
Offering account
Offering gift aid
Kairos gift aid
Fixed assets
House
Jospeh fund
Non ANC
Fund retained within
subsidiary
 Balance at
1 April
2021
£
67,828
-
68,108
11,208
60,979
41,574
431,417
586,950
47,500
132,745
-
238,230
1,686,540		 Income
£
18,961
20,402
408,828
60,078
126,690
15,147
67,500
-
-
396
81,471
647,074
1,446,547
 Expenditure
£
(38,519)
(9,867)
(399,861)
(29,450)
(97,671)
(12,050)
(139,239)
(20,507)
-
(26,936)
(81,635)
(301,087)
(1,156,822)		 Transfers
£
-
-
-
-
-
-
(164)
-
-
-
164
-
-		 Balance at
31 March
2022
£
48,270
10,535
77,076
41,836
89,998
44,671
359,514
566,444
47,500
106,205
-
584,217
1,976,266

28

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

23. UNRESTRICTED FUNDS

Poor

This fund represents money that has been allocated specifically to relieve those who are poor or in need in the church community, those in the wider local community, those in the UK and abroad.

Building fund

This fund represents money which has been donated specifically to be used to extend All Nations Centre.

Tithe account

This fund represents money which has been donated by members and has not been fully utilised in the current accounting period.

Tithe gift aid

This fund represents gift aid money claimed from HMRC on monies which were donated by members and has not been fully utilised in the current accounting period.

Offering account fund

This fund represents monies received in offerings but not used in the financial year received.

Offering gift aid

This fund represents gift aid money claimed from HMRC on monies which were donated by members and has not been fully utilised in the current accounting period.

Kairos gift aid

This fund represents money which has been gift aided from its subsidiary company Kairos Ventures Limited on an annual basis.

House fund

This fund represents any income from the property purchased by ANC.

Fixed asset fund

This fund represents the net book value of capitalised fixed assets transferred from the various funds through which they were initially funded.

Joseph Fund

This fund represents money that has been donated to relieve the needs of those in the world who are in distress and despair in years to come.

Fund retained within subsidiary

This fund represents money that has been accumulated in the subsidiary, but has not been distributed under gift aid.

29

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

24. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Group
Unrestricted
funds
£
Tangible fixed assets
828,292
Stocks
3,477
Debtors
108,032
Cash at bank and in hand
1,077,714
Creditors
(108,337)
Provision for liabilities
(5,087)
1,904,090
Charity
Tangible fixed assets
623,566
Investments
102
Debtors
54,884
Cash at bank and in hand
1,008,837
Creditors
(35,580)
1,651,809
Previous year
Group
Unrestricted
funds
£
Tangible fixed assets
874,035
Stocks
1,592
Debtors
105,903
Cash at bank and in hand
1,048,705
Creditors
(48,327)
Provision for liabilities
(5,643)
1,976,266
Charity
Tangible fixed assets
646,784
Investments
102
Debtors
96,139
Cash at bank and in hand
660,131
Creditors
(11,107)
1,392,049		 Restricted
funds
£
2,190,939
-
-
-
-
-
2,190,939
2,190,939
-
-
-
-
2,190,939
Restricted
funds
£
2,259,616
-
-
-
-
-
2,259,616
2,259,616
-
-
-
-
2,259,616		 Total
2023
£
3,019,231
3,477
108,032
1,077,714
(108,337)
(5,087)
4,095,029
2,814,505
102
54,884
1,008,837
(35,580)
3,842,748
Total
2023
£
3,133,651
1,592
105,903
1,048,705
(48,327)
(5,643)
4,235,882
2,906,400
102
96,139
660,131
(11,107)
3,651,665

30

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

25. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period
Cash flows from investing activities:
Depreciation charges and impairment
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Movement on provisions
Net cash provided by/(used in) operating activities
Analysis of Cash and Cash Equivalents
Cash in hand
Total Cash and Cash Equivalents
Cash
Bank loans falling due within one year
Bank loans falling due after more than one year
At 1 April
2022
£
1,048,705
-
-
1,048,705		 2023
£
(140,853)
115,828
(1,885)
(2,129)
60,010
205
31,177
1,077,714
1,077,714
Cash-flows
£
31,177
-
-
31,177		 2022
£
221,049
105,104
(1,296)
(38,716)
(14,477)
(39,285)
232,379
1,048,705
1,048,705
As at 31
March 2023
£
1,077,714
-
-		 2022
£
221,049
105,104
(1,296)
(38,716)
(14,477)
(39,285)
232,379
1,048,705
1,048,705
1,077,714

26. RELATED PARTY DISCLOSURES

During the year the charity received £23,881 (2022: £10,046) from Ministries Without Borders International in which Dr R J Aubrey’s wife was a trustee until 14[th] October 2022. They also made donations amounting to £144,478 (2022: £129,345) to Ministries Without Borders International.

At the year-end date £1,425 (2022: £1,059) was due from Ministries Without Borders International.

All transactions were carried out at arm’s length and are in accordance with the Charity’s objectives.

31

ALL NATIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

27. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
Income and endowments from:
Donations and legacies
567,429
Charitable activities
81,471
Other trading activities
177,813
Other
503,344
Total income and endowments
1,330,057
Expenditure on:
Raising funds
218,410
Charitable activities
853,777
Other
7,430
Corporation tax
(39,285)
Total expenditure
1,040,332
Net movement in funds
289,725
Reconciliation of Funds
Total funds brought forward
1,686,541
Total funds carried forward
1,976,266		 Restricted
funds
£
-
-
-
-
-
-
68,676
-
-
68,676
(68,676)
2,328,292
2,259,616		 Total
funds
2022
£
567,429
81,471
177,813
503,344
1,330,057
218,410
922,453
7,430
(39,285)
1,109,008
221,049
4,014,833
4,235,882

32