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|