Registered Company Number: 05301550 (England and Wales) Registered Charity Number: 1107553
GLOBAL HORIZONS TRUST
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 August 2023
A U K E R R H O D E S P R O F E S S I O N A L S E R V I C E S L L P
Chartered Accountants & Registered Auditors
YEADON
GLOBAL HORIZONS TRUST
CONTENTS
| Page | |
|---|---|
| Trustees Report | 1 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8 - 12 |
GLOBAL HORIZONS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' (FRS 102).
The Board of Trustees, who are also the directors for the purposes of Company Law, submit the formal Report and Financial Statements of Global Horizons Trust (GHT or 'the Trust' or 'the Charity') for the year ended 31 August 2023. The Trustees' Annual Report and the financial results for the year (which are presented in the form of a Statement of Financial Activities) are prepared in accordance with the Statement of Recommended Practice (FRS 102) for charities issued by the Charity Commission and the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05301550 (England and Wales), a private company limited by guarantee
Registered Charity number
1107553
Registered office
26 – 42 Railway Terrace Railway Terrace Rugby Warwickshire CV21 3LJ
Trustees and Directors
Barry Fitzpatrick Andrew Keith Scotland (Chair) Joshua Pillay
Company Secretary
Alan James Scotland
Independent Examiner
R.J. Kenyon, FCA Auker Rhodes Professional Services LLP Basement Floor Focus House Focus Way Yeadon LS19 7DB
Bankers
Lloyds bank Church Street Rugby CV21 3PL
Page 1
GLOBAL HORIZONS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
REFERENCE AND ADMINISTRATIVE DETAILS Solicitors
Judge Sykes Frixou York House, 23 Kingsway, London WC2B 6YF
EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Trust is a charitable company and its governing documents are the Memorandum and Articles of Association dated 13th November 2004. The company was incorporated on 1st December 2004, and commenced trading on 1st August 2005 when all assets, liabilities and functions were transferred to it from the unincorporated charity, the Bible College of Wales (BCW or 'the College') (Reg. Charity No: 212216).
All the Trustees subscribe to the doctrinal beliefs underpinning the Charity as originally laid out in the Scheme of the High Court of England and Wales dated 25 July 1955 relating to BCW and included as section 9.2 in the Articles of Association for the GHT. Trustees hold office until the end of the AGM held nearest in time to the fourth anniversary of their election, subject to retirement by rotation of one third of the Trustees at each AGM. Trustees retiring by rotation are eligible for re-election. All Trustees are elected by a simple majority of all the Trustees entitled to attend and vote at any meeting of the Board. The Trust seeks potential new Trustees with suitable skills and experience through its existing network of contacts. Potential Trustees are invited to attend Trustees' meetings and talk through issues relating to the charity, before their names are put forward.
The Trustees oversee and make decisions regarding the strategic direction of the charity, as well as setting budgets, and dealing with legal and personnel issues. Andrew Scotland holds the position of Executive Chairman. The Trustees delegate the day-to-day running of the charity to the Operations Manager who oversees all the key objectives and operations of the Trust. Trustees visit the operations of the Trust on a regular basis and are involved in day-to-day management decisions as required notably through the Chief Operations Director and the Church Liaison Director who are both Trustees and part of the Senior Management Team.
Induction and training of new trustees
New Trustees undergo orientation to brief them on their legal obligations under Charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the Charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
Wider network
The Trust is a member of the Evangelical Alliance and works closely with numerous churches and Christian organisations in the UK and in other nations, many of whom are in relationship through the Life link network of churches, in order to achieve its objectives.
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.
Page 2
GLOBAL HORIZONS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
OBJECTIVES AND ACTIVITIES Objectives and aims
The Memorandum of Association lays out the following objects of the Charity:
To advance the Christian faith and public understanding of the Christian faith through any lawful means, anywhere in the world.
The aim of the Charity is to bring the gospel of Jesus Christ to every person, that through the death and resurrection of Jesus, everyone can be reconciled to God.
The Trust has referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing its aims and objectives and planning its future activities.
Our core mission, as outlined in our Memorandum of Association, remains to advance the Christian faith and enhance the public understanding of this faith through any lawful means worldwide. This year has been particularly transformative for the Trust, with strategic restructuring and the introduction of new initiatives aimed at facilitating a transformative journey towards a Jesus-centered life. We have worked diligently to position Life link Global at the forefront of digital evangelism while strengthening our ties with church-based communities to offer support and encouragement in their faith journeys.
Our main objectives for the year included:
Collaborating with key ministries both locally and internationally to develop new training programs for Christians.
Leveraging digital platforms to share our message widely, complementing our work within church-based communities.
Developing content specifically designed for social media to nurture relationships and support individuals on their faith journey.
Communicating our new vision, mission, and operational structure following our strategic restructuring.
Achievement and Performance
This year has been marked by substantial achievements, aligning with our strategic focus and fresh vision:
Strategic Restructuring: Following our strategic restructuring, we have refined our vision and mission, ensuring our structure and operations are fully aligned with our goals. This has enabled us to operate more effectively and focus on initiatives that directly support our mission.
Practitioner of the Soul Modules: We have successfully launched a pilot of Practitioner of the Soul modules across churches in the United Kingdom. This marks the first phase in the development of 13 modules designed to equip Christians in their purpose-driven relationship with Jesus.
Transition of Opportunity 2 Hope: We have facilitated the transition of Opportunity 2 Hope into its own entity. This strategic move allows the ministry to focus dedicatedly on its mission, ensuring targeted and impactful delivery of its services.
Content Development: We have continued to develop and diversify our training content, utilising various formats to ensure accessibility and engagement. Our focus on digital evangelism and social media content has allowed us to reach and support a broader audience.
With the Trust's strategic restructuring and the launch of new initiatives, we are poised to expand our reach and deepen our impact in the coming year. Our commitment to facilitating a transformative journey towards a Jesus-centred life remains unwavering. We will continue to innovate, collaborate, and leverage digital platforms to share the Christian message, supporting individuals and communities in their faith journeys. We express our heartfelt gratitude to our partners, donors, and volunteers for their unwavering support. Your commitment to our cause inspires us to continue our work with renewed zeal and dedication.
Page 3
Conclusion
The Trust enters the next financial year with a clear vision and a strengthened resolve to advance the Christian faith. Guided by our redefined objectives and strategic initiatives, we look forward to a year of growth, outreach, and transformative impact. Together, we will continue to bring hope and encouragement to individuals worldwide, fostering a deeper connection with the Christian faith.
FINANCIAL REVIEW
The net outgoing resources of the Charity were £397,570 (2022: £185,703). The four main sources of income are student fees, donations, tithes and offerings from partner churches and membership subscriptions to our humanitarian partnerships. The Trust continues to provide financial support for Missionaries and Christian workers both in the UK and overseas.
The financial statements show the Charity has free reserves (unrestricted reserves excluding those designated for capital assets) of £1,543,616 (2022: £1,941,186). The Trustees have formalised their reserves policy which is to hold sufficient reserves to cover any forecast operational deficit for the next 12 months. The Trustees are satisfied that the level of reserves in the trust is adequate.
-
Subject to the restricted funds noted below, all surplus assets and funds are held in an unrestricted fund holding the capital assets of the Trust.
-
The Hope for India restricted fund holds member subscriptions pending distribution to beneficiaries located in India. Restricted funds are £15,061 (2022: £12,719).
-
The Opportunity to Hope (O2H) restricted fund holds member subscriptions pending distribution to qualifying projects located anywhere in the world. Only members may submit projects for consideration of which they have particular awareness and accountability. Restricted funds are £2,231 (2022: £2,971). - Africa Enterprise Trust, Restricted funds are £40,252 (2022: £40,229).
The restricted funds are administered by small committees with delegated authority from the Trustees.
The Trustees review the major risks to which the charity is exposed. The Trustees believe that maintaining reserves at the levels stated, combined with annual reviews of the controls over key financial systems, will provide enough resources in the event of adverse conditions. The Trustees are aware of other operational and external risks and compliance with law risks which The Trust faces and confirm that they have considered mitigate the significant risks.
FUTURE DEVELOPMENTS
The Trust made an investment in Future Fuel, which, due to subsequent developments, has been subject to significant recoverability uncertainties. Following a detailed review and considering legal counsel's advice, a full provision has been made against the investment in this year's financial statements. This decision reflects the Trust's cautious approach, recognising the potential impact on our financial position while remaining hopeful for possible future recoveries. Should any recovery occur, it will be recognised as income in the fiscal period it is received.
Approved by order of the board of trustees on 24 April 2024 and signed on its behalf by:
……………………………………….
Trustee ANDREW SCOTLAND
Page 4Page 3
GLOBAL HORIZONS TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE CHURCH COMMITTEE OF
GLOBAL HORIZONS TRUST
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
RESPONSIBILITIES AND BASIS OF REPORT
As the charity's trustees of the Company ( who are also directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the 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 which gives me cause to believe that:
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
the accounts do not accord with such records: or
the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement
of Recommended Practice for accounting and reporting by charities, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
………………………………………………..
R. J. Kenyon FCA Auker Rhodes Professional Services LLP
Chartered Accountants Basement Floor Focus House Focus Way Yeadon LS19 7DB
24 April 2024
Page 5
GLOBAL HORIZONS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
(incorporating an Income and Expenditure account)
| Note INCOMING RESOURCES Incoming resources from generated funds Voluntary Income 2 Incoming resources from charitable activities Advance the Christian faith 3 RESOURCES EXPENDED Charitable Activities Support Costs 4 Premises Costs 5 Grants & Gifts People Costs 6 Advance the Christian Faith 7 Governance costs 8 TOTAL RESOURCES EXPENDED NET INCOMING / (OUTGOING) RESOURCES Other recognised gains / losses Investments as irrecoverable written off Gains/losses on disposal of investment assets NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS:- Balances brought forward Balances carried forward |
Unrestricted Funds Year ended 31 August 2023 £ 43,438 40,615 84,053 154,096 30,764 2,322 28,063 17,683 15,593 248,520 ( 164,468) ( 250,000) 15,272 ( 399,196) 1,885,268 1,486,072 |
Restricted Funds Year ended 31 August 2023 £ 4,193 25,169 29,362 - - 27,736 - - - 27,736 1,626 - 1,626 55,918 57,544 |
Total Funds Year ended 31 August 2023 £ 47,631 65,784 113,416 154,096 30,764 30,058 28,063 17,683 15,593 276,257 ( 162,842) ( 250,000) 15,272 ( 397,570) 1,941,186 1,543,616 |
Total Funds Year ended 31 August 2022 £ 58,263 93,593 |
|---|---|---|---|---|
| 151,856 | ||||
| 174,972 36,331 47,331 36,617 36,650 17,658 |
||||
| 349,559 | ||||
| ( 197,703) 12,000 |
||||
| ( 185,703) 2,126,889 |
||||
| 1,941,186 |
Page 6
GLOBAL HORIZONS TRUST
BALANCE SHEET AT 31 AUGUST 2023
| Note FIXED ASSETS Tangible assets 9 Investments CURRENT ASSETS Debtors 10 Cash at bank and in hand CREDITORS Amounts falling due <1Yr 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY 12 Brought forward Net incoming resources Balances carried forward |
Unrestricted Funds 31 August 2023 £ 958,479 120,484 1,078,963 178,710 262,964 441,674 ( 34,565) 407,109 1,486,072 1,486,072 1,885,268 ( 399,196) 1,486,072 |
Restricted Funds 31 August 2023 £ - - - - 57,544 57,544 - 57,544 57,544 57,544 55,918 1,626 57,544 |
Total Funds 31 August 2023 £ 958,479 120,484 1,078,963 178,710 320,508 499,218 ( 34,565) 464,653 1,543,616 1,543,616 1,941,186 ( 397,570) 1,543,616 |
Total Funds 31 August 2022 £ 1,136,820 332 |
|---|---|---|---|---|
| 1,137,152 207,775 641,353 |
||||
| 849,128 ( 45,094) |
||||
| 804,034 | ||||
| 1,941,186 | ||||
| 1,941,186 | ||||
| 2,126,889 ( 185,703) |
||||
| 1,941,186 |
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
These accounts have been prepared in accordance with the Statement of Recommended Practice (SORP FRS102), for charities issued by the Charity Commission and the Charities Act 2011.
The financial statements were approved by the Trustees on 24 April 2024.
…………………………………………………………………
Andrew Scotland
Trustee
Page 7
GLOBAL HORIZONS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. STATEMENT OF ACCOUNTING POLICIES
The following are the more important Accounting Policies adopted by the Charity:
a) ACCOUNTING STANDARDS
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
b) INCOMING RESOURCES
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
c) RESOURCES EXPENDED
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
d) TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property - 2% and 1% on cost
Plant and machinery - 10% on reducing balance Land is not depreciated
e) STOCKS
Freehold Properties are included as stock where they are actively being marketed for sale. Sale of properties are recognised on completion.
f) TAXATION
The charity is exempt from corporation tax on its charitable activities.
Page 8
GLOBAL HORIZONS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
g) FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes falling in future time periods.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the report of the Trustees.
h) FIXED ASSET INVESTMENTS
Fixed asset investments are initially recognised at cost and subsequently measured at market value. Changes in market value are recognised as other recognised gains or losses on the Statement of Financial Activities. All income from these investments is included in the Statement of Financial Activities as interest receivable and similar income.
i) INVESTMENT PROPERTIES
Property considered by the Trustees to be Investment Property has been valued by the Trustees with reference to their knowledge of the local property market and to similar properties and to the potential use of the properties on a sale.
Page 9
GLOBAL HORIZONS TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023
2. VOLUNTARY INCOME
| Donations Gift Aid Mission Fund Church Tithes General O2H One Off Donations O2H Gift Aid Hope for India Donations 3. ADVANCE THE CHRISTIAN FAITH Leaders Days King Edward Road Bennett Street Temple Buildings AET Donations AET Gift Aid O2H Income 4. SUPPORT COSTS Telephone and Fax Computer Software & Maintenance Printing, Postage & Stationery Literature, Books & Accreditation Fee Sundry Expenses Legal and Professional Fees Travel and Subsistence Depreciation of Leasehold Property Depreciation of Fixtures and Fittings 5. PREMISES COSTS Facilities Insurance |
Unrestricted Funds Year ended 31 August 2023 £ 994 675 2,969 37,047 1,754 - - - 43,438 Unrestricted Funds Year ended 31 August 2023 £ 615 - - 40,000 40,615 Unrestricted Funds Year ended 31 August 2023 £ 4,951 1,255 176 10,408 4,695 79,711 46,196 1,348 5,357 154,096 Unrestricted Funds Year ended 31 August 2023 £ 29,033 1,730 30,764 |
Restricted Funds Year ended 31 August 2023 £ - - - - - - 1,011 3,182 4,193 Restricted Funds Year ended 31 August 2023 £ - - - 15,351 1,323 8,495 25,169 Restricted Funds Year ended 31 August 2023 £ - - - - - - - - - - Restricted Funds Year ended 31 August 2023 £ - - - |
Total Funds Year ended 31 August 2023 £ 994 675 2,969 37,047 1,754 - 1,011 3,182 47,631 Total Funds Year ended 31 August 2023 £ 615 - - 40,000 15,351 1,323 8,495 65,784 Total Funds Year ended 31 August 2023 £ 4,951 1,255 176 10,408 4,695 79,711 46,196 1,348 5,357 154,096 Total Funds Year ended 31 August 2023 £ 29,033 1,730 30,764 |
Total Funds Year ended 31 August 2022 £ 1,376 1,258 5,813 41,259 2,300 500 2,201 3,556 |
|---|---|---|---|---|
| 58,263 | ||||
| Total Funds Year ended 31 August 2022 £ 1,523 5,880 6,950 40,000 27,322 2,139 9,779 |
||||
| 93,593 | ||||
| Total Funds Year ended 31 August 2022 £ 2,250 6,271 1,336 7,361 19,020 106,247 26,117 1,348 5,022 |
||||
| 174,972 | ||||
| Total Funds Year ended 31 August 2022 £ 35,301 1,030 |
||||
| 36,331 |
Page 10
GLOBAL HORIZONS TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023
6. PEOPLE COSTS
| PEOPLE COSTS | ||
|---|---|---|
| Wages and Salaries Staff Nic (Employers) Furlough Grant Income Promotion of the College |
Unrestricted Funds Year ended 31 August 2023 £ 7,663 - 14,705 5,695 28,063 |
Restricted Funds Year ended 31 August 2023 £ - - - - |
| - |
| Total Funds Year ended 31 August 2023 £ 7,663 - 14,705 5,695 28,063 |
Total Funds Year ended 31 August 2022 £ 20,048 904 9,913 5,752 |
|---|---|
| 36,617 |
No staff members were paid more than £50,000.
The average number of employees, calculated on a full-time equivalent basis, analysed by function was:
| Management and administration of the charity ADVANCE THE CHRISTIAN FAITH Unrestricted Funds Year ended 31 August 2023 £ Marketing 3,271 Bennet Street Costs 5,086 King Edward Street Costs 5,855 Aspen Walk Costs 477 London Road Costs 187 Leadership Academy Costs 95 Mumbles Bay Flat Costs 2,711 17,683 GOVERNANCE COSTS Unrestricted Funds Year ended 31 August 2023 £ General Costs 10,193 Accountancy 5,400 15,593 FIXED ASSETS Freehold Leasehold Property Property £ £ Cost or valuation at 1 September 2022 975,000 134,818 Additions - Disposal ( 180,000) - Revaluation - Cost at 31 August 2023 795,000 134,818 Depreciation at 1 September 2022 - 18,199 Depreciation Charge - 1,348 Depreciation on Disposal - - Depreciation at 31 August 2023 - 19,547 Net book value at 31 August 2023 795,000 115,271 Net book value at 31 August 2022 975,000 116,619 |
Management and administration of the charity ADVANCE THE CHRISTIAN FAITH Unrestricted Funds Year ended 31 August 2023 £ Marketing 3,271 Bennet Street Costs 5,086 King Edward Street Costs 5,855 Aspen Walk Costs 477 London Road Costs 187 Leadership Academy Costs 95 Mumbles Bay Flat Costs 2,711 17,683 GOVERNANCE COSTS Unrestricted Funds Year ended 31 August 2023 £ General Costs 10,193 Accountancy 5,400 15,593 FIXED ASSETS Freehold Leasehold Property Property £ £ Cost or valuation at 1 September 2022 975,000 134,818 Additions - Disposal ( 180,000) - Revaluation - Cost at 31 August 2023 795,000 134,818 Depreciation at 1 September 2022 - 18,199 Depreciation Charge - 1,348 Depreciation on Disposal - - Depreciation at 31 August 2023 - 19,547 Net book value at 31 August 2023 795,000 115,271 Net book value at 31 August 2022 975,000 116,619 |
Restricted Funds Year ended 31 August 2023 £ - - - - - - - - - Restricted Funds Year ended 31 August 2023 £ - - - Fixtures and Fittings £ 76,919 8,364 - - 85,283 31,718 5,357 - 37,075 48,208 45,201 |
Year ended 31 August 2023 No. Nil Total Funds Year ended 31 August 2023 £ 3,271 5,086 5,855 477 187 95 2,711 - 17,683 Total Funds Year ended 31 August 2023 £ 10,193 5,400 15,593 Totals £ 1,186,737 8,364 ( 180,000) - 1,015,101 49,917 6,705 - 56,622 958,479 1,136,820 |
Year ended 31 August 2022 No. 4 |
|---|---|---|---|---|
| Total Funds Year ended 31 August 2022 £ 22,897 395 3,173 747 1,482 314 7,642 - |
||||
| 36,650 | ||||
| Total Funds Year ended 31 August 2022 £ 9,216 8,442 |
||||
| 17,658 | ||||
| 795,000 134,818 |
||||
| - 18,199 - 1,348 - - |
||||
| - 19,547 |
||||
| 795,000 115,271 |
||||
| 975,000 116,619 |
7. ADVANCE THE CHRISTIAN FAITH
8. GOVERNANCE COSTS
9. FIXED ASSETS
Page 11
GLOBAL HORIZONS TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023
| 10. | DEBTORS | Year ended | Year ended | Year ended | Year ended | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 August 2023 | 31 August | 2022 | |||||||
| £ | £ | ||||||||
| Unrestricted Fund | |||||||||
| Other debtors | 178,710 | 207,775 | |||||||
| (Includes an amount of £150K which is recoverable more than | a year after | the reporting date) | |||||||
| 178,710 | 207,775 | ||||||||
| Restricted Fund | |||||||||
| - | - | ||||||||
| Total Fund | 178,710 | 207,775 | |||||||
| 11. | CREDITORS : amounts due | Year ended | Year ended | ||||||
| within one year | 31 August 2023 | 31 August | 2022 | ||||||
| £ | £ | ||||||||
| Trade creditors | 14,031 | 13,909 | |||||||
| Other taxes and social security | - | 533 | |||||||
| Other creditors | 20,534 | 30,652 | |||||||
| 34,565 | 45,094 | ||||||||
| 12. | RESERVES | ||||||||
| As at | 01-09-22 | Net | As at | 31-08-23 | |||||
| Movement in | |||||||||
| Funds | |||||||||
| £ | £ | £ | |||||||
| Unrestricted funds | |||||||||
| General fund | 1,885,268 | ( 399,196) | 1,486,071 | ||||||
| 1,885,268 | ( 399,196) | 1,486,071 | |||||||
| Restricted funds | - | ||||||||
| Hope for India | 12,719 | 2,342 | 15,061 | ||||||
| Opportunity 2 Hope | 2,971 | ( 738) | 2,231 | ||||||
| Africa Enterprise Trust | 40,229 | 23 | 40,252 | ||||||
| 55,918 | 1,626 | 57,545 | |||||||
| Total Funds | 1,941,186 | ( 397,570) | 1,543,616 | ||||||
| Net movement in funds, included in the above are as follows: | |||||||||
| Incoming | Resources | Gain and | Movement in | ||||||
| resources | expended | Losses | funds | ||||||
| £ | £ | £ | £ | ||||||
| Unrestricted funds | |||||||||
| General fund | 84,053 | ( 248,520) | ( | 234,728) | ( 399,196) | ||||
| Restricted funds | |||||||||
| Hope for India | 3,182 | ( 840) | - | 2,342 | |||||
| Opportunity 2 Hope | 9,506 | ( 10,243) | - | ( 738) | |||||
| Africa Enterprise Trust | 16,674 | ( 16,652) | - | 23 | |||||
| Total Funds | 113,416 | ( 276,257) | **( ** | 234,728) | ( 397,570) |
13. TRANSACTIONS WITH TRUSTEES
A K Scotland received fees of £Nil (2022 : £Nil) during the year ended 31 August 2023.
14. CONTROLLING PARTY
The Church was controlled by the Trustees throughout the current and previous year.
Page 12
GLOBAL HORIZONS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| INCOMING RESOURCES Donations Gift Aid Rental Income - Temple Buildings O2H One Off Donations O2H Gift Aid Hope for India Donations Church Tithes:London Leaders Days Basildon Birmingham Cambridge Blackpool Church Tithes:Mid Somerset Letchworth Rugby Lancaster Church Alive General Church Tithes:Peterborough Mission funds:general Mission offerings Rental Income - 21 King Edward Street Rental Income - 18 Bennett Street AET Regular Income AET Gift Aid O2H Membership Income RESOURCES EXPENDED Wages and Salaries Staff Nic (Employers) Trustee's Expenses Trust Office Rent Staff conference Costs Marketing Leaders day Costs Office Facility costs Mumbles Bay Flat costs Swansea Costs Purchases Facilities Insurance Telephone and Fax Computer Software & Maintenance Printing, Postage & Stationery Literature, Books & Accreditation Fee Grants and Gifts Sundry Expenses Legal and Professional Fees Promotion of the College Travel and Subsistence Depreciation of Leasehold Property Depreciation of Fixtures and Fittings (Profit) / Loss on Disposal of FA Investments as irrecoverable written off NET (OUTGOING) / INCOMING RESOURCES Balances brought forward Balances carried forward |
£ £ £ £ 994 1,376 675 1,258 40,000 40,000 - 500 1,011 2,201 3,182 3,556 6,000 6,000 615 1,523 6,075 3,354 5,622 5,622 4,202 6,030 300 - 1,600 4,480 6,720 2,196 3,894 7,847 7,821 1,754 2,300 325 220 2,969 5,813 - 5,880 - 6,950 16,598 27,322 1,323 2,139 8,495 9,779 114,662 151,856 7,663 20,048 - 904 14,705 9,913 10,408 4,902 140 - 3,271 22,897 95 314 17,371 25,685 2,711 7,642 1,079 13,741 - 615 12,860 9,896 1,730 1,031 4,951 2,250 1,255 6,271 176 1,336 10,408 7,361 31,898 47,499 2,883 5,112 95,304 123,905 5,695 5,752 46,197 26,117 1,348 1,348 5,357 5,022 ( 15,272) ( 12,000) 250,000.00 512,231 337,559 ( 397,570) ( 185,703) 1,941,186 2,126,889 1,543,616 1,941,186 Year ended 31 August 2022 Year ended 31 August 2023 |
£ £ £ £ 994 1,376 675 1,258 40,000 40,000 - 500 1,011 2,201 3,182 3,556 6,000 6,000 615 1,523 6,075 3,354 5,622 5,622 4,202 6,030 300 - 1,600 4,480 6,720 2,196 3,894 7,847 7,821 1,754 2,300 325 220 2,969 5,813 - 5,880 - 6,950 16,598 27,322 1,323 2,139 8,495 9,779 114,662 151,856 7,663 20,048 - 904 14,705 9,913 10,408 4,902 140 - 3,271 22,897 95 314 17,371 25,685 2,711 7,642 1,079 13,741 - 615 12,860 9,896 1,730 1,031 4,951 2,250 1,255 6,271 176 1,336 10,408 7,361 31,898 47,499 2,883 5,112 95,304 123,905 5,695 5,752 46,197 26,117 1,348 1,348 5,357 5,022 ( 15,272) ( 12,000) 250,000.00 512,231 337,559 ( 397,570) ( 185,703) 1,941,186 2,126,889 1,543,616 1,941,186 Year ended 31 August 2022 Year ended 31 August 2023 |
|---|---|---|
| ( 185,703) 2,126,889 |
||
| 1,941,186 |