| Page | Page | ||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 3 |
| Report ofthe Independent Auditors |
4 | to | 7 |
| Consolidated Statement ofFinancial Activities |
|||
| Consolidated Balance Sheet |
|||
| Charity Balance Sheet | 10 | ||
| Consolidated Cash Flow Statement |
|||
| Notes to the Consolidated Cash Flow Statement |
12 | ||
| Notes to the Consolidated Financial Statements |
13 | to | 25 |
| Detailed Consolidated Statemeut ofFinancial Activities |
26 | to | 27 |
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | |||
| INCOME AND ENDOWMENTS FROM | |||
| Charitable activities |
|||
| Charity Centre - Life Campus Charity Centre - Media Investment income |
62,996 2,762,148 4 998 |
59,676 2,423,887 102 |
|
| Total | 2 830,142 | 2 483,665 | |
| EXPENDITURE ON | |||
| Share ofassociated company net loss | 14,194 | 8,917 | |
| Charitable activities |
|||
| Support costs for grants dr activities Donation Charity Centre - Life Campus Charity Centre - Media |
10,380 151,811 268,005 2,367,275 |
110,000 267,691 1,973,105 |
|
| Total | 2,811,665 | 2,359,713 | |
| NET INCOME | 18,477 | 123,952 | |
| RECONCILIATION OF FUNDS |
|||
| Total funds brought forward |
2,274,337 | 2,150,385 | |
| TOTAL FUNDS CARRIED FORWARD | 2292 814 | 2274337 |
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| FIXEDASSETS | Notes | 8 | |
| Tangible assets Investments |
11 12 |
87,741 818,889 |
99,946 833,083 |
| 906,630 | 933,029 | ||
| CURRENT ASSETS | |||
| Debtors Cash at bank |
13 | 887,113 1,311,584 |
674,709 1,555,911 |
| 2,198,697 | 2,230,620 | ||
| CREDITORS | |||
| Amounts falling due within one year |
14 | (487,167) | (412,260) |
| NET CIJRRKNT ASSETS | 1 711,530 | 1,818,360 | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 2,618,160 | 2,751,389 | |
| CREDITORS | |||
| Amounts falling due after more than one year |
15 | (325,346) | (477,052) |
| NET ASSETS | 2,292,814 | 2274,337 | |
| FUNDS | 18 | ||
| Unrestricted funds |
2,292,814 | 2,274,337 | |
| TOTAL FUNDS | 2,292 814 | 2,274,337 |
| CHARITY ONLY | 2023 Unrestricted |
2022 Total |
|
|---|---|---|---|
| fund | funds | ||
| Notes | |||
| FIXEDASSETS | |||
| Tangible assets Investments |
11 12 |
87,741 848,000 |
99,946 100 |
| 935,741 | 100,046 | ||
| CURRENT ASSETS | |||
| Debtors Cash at bank |
13 | 886,878 1,306,490 |
1,516,939 1,555,911 |
| 2,193,368 | 3,072,850 | ||
| CREDITORS | |||
| Amounts falling due within one year |
14 | (486,582) | (412,020) |
| NKT CURRENT ASSETS | 1,706,786 | 2,660,830 | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 2,642,527 | 2,760,876 | |
| CREDITORS | |||
| Amounts falling due after more than one year |
15 | (325,346) | (477,052) |
| NET ASSETS | 2,317181 | 2,283,824 | |
| FUNDS | 18 | ||
| Unrestricted funds |
2,317181 | 2283,824 | |
| TOTAL FUNDS | 2317,181 | 2 283 824 |
| FO | R THE YEAR EN | DED 30APRIL 2023 | |||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Notes | f, | ||||
| Cash flows from operating activities |
|||||
| Cash generated from operations Interest paid |
(40,957) ~74676 |
380,720 | |||
| Net cash (nsed in)/provided | by operating | activities | ~115,633) | 380,720 | |
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed assets Purchase offixed asset investments Interest received |
(200) 4,998 |
(628) (670,000) 102 |
|||
| Net cash provided by investing activities |
4,798 | ~670 526) | |||
| Cash flows from financing | activities | ||||
| Loan repayments in year |
~133,492) | ||||
| Net cash used in financing | activities | ~133,492) | |||
| Change in cash and cash equivalents | in | ||||
| the reportiug period Cash and cash equivalents |
at the | (244,327) | (289,806) | ||
| beginning ofthe reporting |
period | ~1555911 | I 845 717 | ||
| Cash and cash equivalents | at the end | of | |||
| the reporting period |
~1311584 | I 555911 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Net income | for the | reporting | period (as per the Statement ofFinancial | |||
| Activities) Adjustments |
for: | 18,477 | 123,952 | |||
| Share ofassociated company Depreciation charges Interest received Interest paid (increase)/decrease in debtors Increase in creditors |
loss | 14,194 12,405 (4,998) 74,676 (212,404) 56,693 |
8,917 14,164 (102) 172,437 61,352 |
|||
| Net cash (used in)/provided | by operations | ~40,957) | 380,720 | |||
| ANALYSIS | OF CHANGES | IN NKT FUNDS | ||||
| At 1.5.22 I |
Cash flow | At 30.4.23 | ||||
| Net cash | ||||||
| Cash at bank | 1,555,911 | ~244,327) | 1,311584 | |||
| 1,555,911 | (244 327) | 1,311,584 | ||||
| Debt | ||||||
| Debts falling Debts falling |
due within due after |
1 year 1year |
(122,948) (477,052) |
(18,214) 451,7lll |
(141,162) ~325 346 |
|
| ~6000003 | l33 492 | ~46650ll | ||||
| Total | 955911 | ~110835) | 845 076 |
| INVESTM | ENT INCOME | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||
| Deposit account interest | 4,998 | 102 | |||||||
| INCOME | FROM CHARITABLE ACTIVITIES | ||||||||
| 2023 | 2022 | ||||||||
| Activity | |||||||||
| Income as | landlord | Charity | Centre | - Life Campus | 25,000 | 25,000 | |||
| Recharges | Charity | Centre | - Life Campus | 37,996 | 34,676 | ||||
| Income as | landlord | Charity | Centre | - Media | 120,500 | 120,833 | |||
| Managed services income |
Charity | Centre | - Media | 379,050 | 283,800 | ||||
| Programme | income | Charity | Centre | - Media | 2,032,485 | 1,790,021 | |||
| Recharges | Charity | Centre | —Media | 230,113 | 229,233 | ||||
| ~2825 144 | 2,483,563 | ||||||||
| CHARITABLE ACTIVITIES COSTS | |||||||||
| Grant | |||||||||
| funding of | |||||||||
| activities | Support | ||||||||
| Direct | (see note | costs (see | |||||||
| Costs | 5) | note 6) | Totals | ||||||
| Support costs for grants &activities | 10,380 | 10,380 | |||||||
| Donation | 151,811 | 151,811 | |||||||
| Charity Centre - Life Campus Charity Centre - Media |
175,108 2,341,657 |
92,897 ~25 618 |
268,005 ~2367275 |
||||||
| ~2,516765 | 151811 | 128895 | 2,797,471 | ||||||
| GRANTS | PAYABLK | ||||||||
| 2023 | 2022 | ||||||||
| 8 | |||||||||
| Donation | ~151811 | 110,000 | |||||||
| The total grants paid to institutions | during the | year was as follows: | |||||||
| 2023 | 2022 | ||||||||
| 8 | |||||||||
| Living Seeds | 140,002 | 90,000 | |||||||
| Grace Enterprises | 20,000 | ||||||||
| Kingdom Forest School | 11,809 | ||||||||
| 151,811 | 110,000 |
| Governance | |||||
|---|---|---|---|---|---|
| Management | costs | Totals | |||
| Support Charity Charity |
costs Centre Centre |
for grants k activities - Life Campus - Media |
18,221 3,404 |
10,380 74,676 22,214 |
10,380 92,897 25 618 |
| 21,625 | 107,270 | 128,895 |
| 2023 | 2022 | |
|---|---|---|
| Auditors' reinuneration Accountancy Depreciation -owned assets |
8,000 1,570 12,405 |
5,540 570 14,164 |
| STAFF COSTS | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Wages and salaries Other pension costs |
1,154,498 24,593 |
1,062,575 23,746 |
|||
| I | 179,091 | ~1086,321 | |||
| Thc average monthly | number ofemployees | during the year was as follows: | |||
| 2023 | 2022 | ||||
| Administration | 2 | 1 | |||
| Charity Centre Operation Studio |
4 25 |
6 24 |
|||
| 31 | 31 |
| Unrestricted | |||||||
|---|---|---|---|---|---|---|---|
| fund | |||||||
| INCOME AND ENDOWMENTS FROM | |||||||
| Charitable activities |
|||||||
| Charity Centre - Life Campus |
59,676 | ||||||
| Charity Centre - Media |
2,423,887 | ||||||
| Investment income |
102 | ||||||
| Total | 2,483,665 | ||||||
| EXPENDITURE ON | |||||||
| Share ofassociated company | net | loss | 8,917 | ||||
| Charitable activities |
|||||||
| Donation | 110,000 | ||||||
| Charity Centre - Life Campus |
267,691 | ||||||
| Charity Centre - Media | 1,973,105 | ||||||
| Total | 2,359,713 | ||||||
| NET INCOME | 123,952 | ||||||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought forward |
2,150,385 | ||||||
| TOTAL FUNDS CARRIED FORWARD | 2,274,337 | ||||||
| TANGIBLE FIXEDASSETS —GROUP AND | CHARITY | ||||||
| Improvements | Fixtures | ||||||
| to | Plant and | and | Computer | ||||
| property I |
machinery | fittings | equipment | Totals I |
|||
| COST | |||||||
| At I May 2022 | 96,440 | 2,140 | 74,318 | 20,410 | 193,308 | ||
| Additions | 200 | 200 | |||||
| At 30April 2023 | 96440 | 2,340 | 74,318 | 20,410 | 193,508 | ||
| DEPRECIATION | |||||||
| At I May 2022 | 33,294 | 567 | 44,656 | 14,845 | 93,362 | ||
| Charge for year | 5,676 | 443 | 4,449 | 1,837 | 12,405 | ||
| At 30 April 2023 | 38,970 | 1,010 | 49,105 | 16,682 | 105,767 | ||
| NET BOOKVALUE | |||||||
| At 30April 2023 | 57,470 | 1,330 | 25,213 | 3,728 | 87,741 | ||
| At 30 April 2022 | 63,146 | ~1573 | 29,662 | 5,565 | 99,946 |
| FOR THE YEAR ENDED 30A | PRIL 2023 | ||
|---|---|---|---|
| 12. | FIXEDASSETINVESTMKNTS | ||
| 2023 | 2022 | ||
| GROUP | |||
| Shares | 818,889 | 833,083 | |
| Loans | |||
| 818,889 | 833,083 | ||
| Unlisted | |||
| investments | |||
| MARKET VALUE | |||
| At 1 May 2022 Share ofassociated company net loss in year |
833,083 (14,194) |
||
| At 30April 2023 | 8~18 889 | ||
| NET BOOK VALUE | |||
| At 30April 2023 | 818,889 | ||
| At 30 April 2022 | 833,083 |
| FORTHE YEAR ENDED 30APR | FORTHE YEAR ENDED 30APR | IL 2023 | ||
|---|---|---|---|---|
| 12. | FIXEDASSETINVESTMENTS | |||
| 2023 | 2022 | |||
| CHARITY | ||||
| Shares | 175 | 100 | ||
| Loans | 847,825 | |||
| 848,000 | 100 | |||
| Unlisted | ||||
| investments | ||||
| MARKET VALUE | g | |||
| At 1 May 2022 | 100 | |||
| Reclassification/transfer | 75 | |||
| At 30April 2023 | 175 | |||
| NET BOOKVALUE | ||||
| At 30April 2023 | 175 | |||
| At 30April 2022 | 100 | |||
| Loans to | ||||
| gl'oup | ||||
| undertakings | ||||
| New in year Other movements |
5,325 842 500 |
|||
| At 30April 2023 | 847,825 | |||
| There were no investment | assets outside the UK. |
| DEBTORS:AMOUNTS FALLING DUE WITHIN ONE Y | EAR | |
|---|---|---|
| 2023 | 2022 | |
| GROUP | ||
| Tenant dt trade debtors Other debtors |
472,189 38,797 |
239,474 25,851 |
| Prepayments | 376,127 | 409,384 |
| 887,113 | 674,709 | |
| 2023 | 2022 | |
| CHARITY | f | |
| Tenant &trade debiors Amounts owed by group undertakings Other debtors |
472,189 38,562 |
239,474 842,500 25,581 |
| Prepayments | 376,127 | 409,384 |
| 886,878 | 1,516,939 |
| CREDITORS: AMOUN | TS FALLING DUK WITHIN ONE YEAR | ||
|---|---|---|---|
| 2023 | 2022 | ||
| GROUP | f | f | |
| Bank loans and ovcrdrags Trade creditors Social security and other VAT Other creditors |
(see note 16) taxes |
141,162 93,923 19,076 53,114 22 |
122,948 101,536 20,356 75,923 |
| Deferred income Accrued expenses |
139,604 40,266 |
62,617 28,880 |
|
| 487,167 | 412,260 | ||
| CREDITORS: AMOUNTS FALLING DUK WITHIN ONE YEAR | |||
| 2023 | 2022 | ||
| CHARITY | f | ||
| Bank loans and overdraits (see note 16) Trade creditors Amounts owed to group undertakings |
141,162 93,923 75 |
122,948 101,536 |
|
| Social security and other taxes VAT Other creditors |
19,076 53,114 22 |
20,356 75,923 |
|
| Deferred income Accrued expenses |
139,604 39,606 |
62,617 28,640 |
|
| 486,582 | 412,020 |
| FORTHE YEAR ENDE | FORTHE YEAR ENDE | FORTHE YEAR ENDE | FORTHE YEAR ENDE | D 30A | PRIL 2023 | |||
|---|---|---|---|---|---|---|---|---|
| 15. | CREDITORS: AMOUNTS FALLING DUE AFTER | MORE | THAN ONE | YEAR | ||||
| 2023 | 2022 | |||||||
| f. | ||||||||
| Bank loans (see note 16) | 325,346 | 477,052 | ||||||
| 16. | LOANS | |||||||
| An analysis ofthe maturity ofloans is given below: | ||||||||
| 2023 | 2022 | |||||||
| Amounts falling due within one |
year on demand: | |||||||
| Bank loans | 141 162 | 122,948 | ||||||
| Amounts falling between |
one and two years: | |||||||
| Bank loans - 1-2years | 159,923 | 151,706 | ||||||
| Amounts falling due between two and five years: |
||||||||
| Bank loans - 2-5 years | 165,423 | 325,346 | ||||||
| 17. | LEASING AGREEMKNTS | |||||||
| Minimum lease payments |
under | non-cancellable | operating | leases | fall due as follows: | |||
| 2023 | 2022 | |||||||
| Within one year | 42,980 | 80,480 | ||||||
| Between one and five years | 121,920 | 134,420 | ||||||
| Greater than five years | 167,640 | 198,120 | ||||||
| 332,540 | 413,020 | |||||||
| 18. | MOVEMENT IN FUNDS | |||||||
| Net | ||||||||
| movement | At | |||||||
| GROUP | At 1.5.22 | in funds | 30.4.23 | |||||
| Unrestricted funds |
||||||||
| General fund | 2,274,337 | 18,477 | 2,292,814 | |||||
| TOTAL FUNDS | 2274,337 | 18,477 | 2,292,814 | |||||
| Net movement in funds, included |
in the above are | as follows: | ||||||
| Incoming | Resources | Movement | ||||||
| resources | expended | in funds | ||||||
| 6 | ||||||||
| Unrestricted funds |
||||||||
| General fund |
2,830,142 | (2,811,665) | 18,477 | |||||
| TOTALFUNDS | 2.838,142 | ~72811666 | 18477 |
| Net | ||||||||
|---|---|---|---|---|---|---|---|---|
| CHARITY | movement | At | ||||||
| At 1.5.22 | in funds | 30.4.23 | ||||||
| Unrestricted | funds | |||||||
| General fund | 2,283,824 | 33,357 | 2,317,181 | |||||
| TOTAL FUNDS | 2,283,824 | 33,357 | 2,317,18I | |||||
| Net movement | in funds, included | in the above | are as follows: | |||||
| Incoming | Resources | Movement | ||||||
| resources | expended | in funds | ||||||
| 6 | ||||||||
| Unrestricted | funds | |||||||
| General fund | 2,830,142 | (2,796,785) | 33,357 | |||||
| TOTAL FUNDS | 2,830,142 | ~2,796,785) | 33,357 | |||||
| Comparatives | for tnovement | in | funds | |||||
| Net | ||||||||
| movement | At | |||||||
| GROUP | At 1.5.21 | in funds | 30.4.22 | |||||
| Unrestricted | funds | |||||||
| General fund | 2,150,385 | 123,952 | 2,274,337 | |||||
| TOTAL FUNDS | 2 150385 | 123,952 | 2274 337 | |||||
| Comparative | net movement | in | funds, included | in the above are as follows. ' |
||||
| Incoming | Resources | Movement | ||||||
| resources | expended | in funds | ||||||
| Unrestricted | funds | |||||||
| General fund | 2,483,665 | (2,359,713) | 123,952 | |||||
| TOTAL FUNDS |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| CHARITY | At 1.5.21 | in funds | 30.4.22 | |
| f. | 8 | |||
| Unrestricted | funds | |||
| General fund | 2,150,385 | 133,439 | 2,283,824 | |
| TOTALFUNDS | 2,150,385 | 133,439 | 2,283,824 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| IJnrestrictcd | funds | g | f, | |
| General fund | 2,483,665 | (2,350,226) | 133,439 | |
| TOTAL FUNDS |
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| GROUP | At 1.5.21 | in funds | 30.4.23 | ||
| IJnrestrieted | funds | ||||
| General | fund | 2,150,385 | 142,429 | 2,292,814 | |
| TOTAL | FUNDS | 2,150,385 | 142429 | 2,292 814 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended f |
in funds | ||
| Unrestricted | funds | |||
| General fund | 5,313,807 | (5,171,378) | 142,429 | |
| TOTALFUNDS | 5,313,807 | (5,171378) | 142429 |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| CHARITY | At 1.5.21 | in funds | 30.4.23 | |
| Unrestricted | funds | |||
| General fund | 2,150,385 | 166,796 | 2,317,181 | |
| TOTAL FUIIjDS | 2,150385 | ~166796 | 2,317,181 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| 6 | ||||
| Unrestricted | funds | |||
| General fund | 5,313,807 | (5,147,011) | 166,796 | |
| TOTAL FUNDS | 5 313807 | ~5347011 | 166796 |
| FOR THE YEAR END | ED 30APRIL 2023 | ||
|---|---|---|---|
| 2023 | 2022 | ||
| f, | |||
| INCOME AND ENDOWMENTS | |||
| Investment income |
|||
| Deposit account interest | 4,998 | 102 | |
| Charitable activities |
|||
| Income as landlord Managed services income Programme income Recharges |
145,500 379,050 2,032,485 268,109 |
145,833 283,800 1,790,021 263,909 |
|
| 2,825,144 | 2,483,563 | ||
| Total incoming resources |
2,830,142 | 2,483,665 | |
| EXPENDITURE | |||
| Charitable activities |
|||
| Wages Pensions Rates Rent &service charge- Advertising Repairs &renewals IT&.telephone costs Light and heat Production costs Consultancy Life Campus project costs Donations |
1,154,498 24,593 33,396 94,209 7,883 75,175 22,897 167,968 795,512 60,000 80,634 ~151811 |
1,062,575 23,746 41,756 93,285 3,954 49,269 21,393 104,118 579,239 60,000 155,530 110000 |
|
| 2,668,576 | 2,304,865 | ||
| Support costs | |||
| Management | |||
| Administration Legal fees Improvements to property Plant and machinery Fixtures and fittings Computer equipment |
8,132 1,088 5,676 443 4,449 ~1837 |
6,519 4,046 5,675 525 5,234 2,730 |
|
| 21,625 | 24,729 | ||
| Governance costs |
|||
| Accountants/Auditors Administration Bank charges Bank loan interest |
remuneration | 9,570 22,630 394 74676 |
6,110 14,916 176 |
| 107,270 | 21,202 |
| FOR TIIK YEAR ENDED | 30APRIL 2023 | |
|---|---|---|
| 2023 | 2022 | |
| Share ofassociated company net loss | 2,797,471 14,194 |
2,350,796 8,917 |
| Total resources expended | 2,811,665 | 2,359713 |
| Net income | 18,477 | 123,952 |