Registered Company Number. 05301550 (England and Vvalesl Registered Charity Number.. 1107553 GLOBAL HORIZONS TRUST VNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2024 AUKER RHODES PROFESSIONAL SERVICES LLP Chartered Accountants & Registered Auditors YEADON
GLOBAL HORIZONS TRUST CONTENTS Page Trustees Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Accounts 8-12
GLOBAL HORIZONS TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 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 2024. The trLJStees have adopted the provisions of the Siatement of Recommended Practice ISORPI '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 IGHT or Ihe Trust, or'the Charity.) for the year ended 31 August 2024. The Trustees, Annual Report and the financial resulis for Ihe year (which are presented in the form of a Statement of Financial Activities) are prepared in accordance with the Statement of Recommended Practice IFRS 102) for charities issued by the Charity Commission and the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DEfAILS 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 WanNickshire CV213LJ Trustees and Directors Barry Fitzpatrick Andrew Keith Scolland {Chair) Joshua Pillay Company Secretary Alan James Scotland Independent Examiner R.J. Kenyon. FCA Auker Rhodes Professional Servis 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 2024 REFERENCE AND ADMINISTRATIVE DETAILS SoliGitors Judge Sykes Frixou York House, 23 Kingsway. London WC2B 6YF EVENTS SINCE THE END OF THE YEAR Information relaling 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 goveming documents are the Memorandum and Articles of Association dated 13th November 2004. The company was incorporated on 1st December 2004. and commenced trading on 1 st August 2005 when all assets, liabilities and functions were transferred to it from the unincorporated charity, the Bible Colle9e 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 lo 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*lection. All Trustees are elected by a SiTnple majority of all the Trustees entitled lo attend and vote at any meeting ofthe Board. The Trust seeks potential new Trustees with suitable skills and experience through its existing nehvork of contacts. Potential Trustees are invited lo attend Trustees, meelings and talk through issues relaling to the charity. before their names are put foard. 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 ScoU8nd holds the position of Execulive Chaiman. The Trustees delegate the daY-tdaY 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 dwsions as required notably through the Chief Operations Director and the Church Liaison Director who are both Trustees and part of the Senior Management Tea¥ll. Induction and training of new trustees New Trustees undergo orientation lo brief them on iheir 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 rewew the rtsks 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 2024 OBJECTIVES AND ACTivillES Objectives and aims The Memorandum of Association lays out Èhe following objects of the Chanty.. To advance the Christian faith and public urKlerstanding of the Christian faith through any lawful means, anywhere in the worfd. The aim of the Charty 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 guidan contained in the Charity Commission's general guidance on public benefit when reviewng ils aim5 and objectives and planning its future aclivities. Our core mission, as outlined in our Memorandum ofAssociation. remains to advance the Christian faith and enhance the public understanding of Ihis faith through any lawful means worklwide. This year has been particularfy transformalive for the Trust. with strategic restructuring and the introduction of new initiatives aimed at facilitating a transformative joumey towards a Jesus-centered life. We have worked diligently to position Life link Global at the forefront of digital evangelism while slrengthening our ties with church-based communities to offer support and encouragement in their faith joumeys. Our main objectives ftir the year included.- Collaborating with key ministries both locally and intemationally to develop new training prograwns for Christians. Leveraging digital platforms to share our message widely, complementing our work within church-based communities. Developing content specifically designed for social media lo nurture relationships and support individuals on their faith journey. Communicating our new vision, mission. and operational structure following our strategic restructuring. Achievement and Perfomiance 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 operation5 are fully aligned with our goals. This has enabled us to operate more effectively and focus on initiatives thal directly SUpt 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 devek)pment of 13 modules designed to equip Christians in their purpose-driven relationship Jesus. Transitlon of Opportunity 2 Hope.. We have facilitated the transition of Qpportunity 2 Hope into ils own entity. This strategic move allows the ministy to focus dedicatedly on its mission, ensuring targeted and impactful delivery of its servIs. Content Development- We have continued to devek)p and diversify our training content, ulilising various formats to ensure accessibility and engagement. Our focus on digital evangelism and s(Kial media conlent 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 facilitaling a transformative joumey towards a Jesus-cenlred lifè remains unwavering. We will continue to innovate, collaborate. and leverage digital platfomis to share Ihe Christian message, supporting individuals and communities in their faith journeys. We express our heartfelt gralitude to our partners. donors. and volunteers for their unwavering support. Your coynmitment to our cause inspires us to continue our work wtth renewed zeal and dedication. Page 3
Conclusion The Trust enters the ne financial year with a dear ViSFon and a strengthened resolve to advance the Christian faith. Guided by our redefined objectives and strategic initiatives, we look forward to a year of growlh, outreach, and transformative impact. Together. we will continue to bring hope and encouragement to individuals worldwide, fostering a deeper connection wilh the Christian faith. FINANCIAL REVIEW The net outgoing resources of the Charity were £175.723 {2023: £397.570). The four main sources of income are student fees, donations. tithes and offerings from partner churches and membership subscriptions lo our humanitarian partnerships. The Trust continues lo provide financiai 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 £1.442,894 (2023.. £1.543,616). The Trustees have fomialised their reserves policy which is to hold sufficient reserves to cover any forecast operalional deficit for the next 12 months. The Trustees are satisfiad that the level of rèseNes in the trust is adequate. Subject to the reslricted funds noted below. all surplus assels and funds are held in an ullreslricted fund holding the capital assets of the Trust. The Hope far India restricted fund holds member subscriptions pending distribution to beneficiaries located in India. Restricted funds are £8.724 {2023= £15,061). - The Opportunty lo Hope102H) 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 £Nil {2023'. £2.231). - Africa Enterprise Trust. Restricted funds are £Nil (2023- £40.2521. The restricted funds are administered by small comTnittees with delegated authority from the Trustees. The Truslees review the major rssks to which the charity is exposed. The Trustees believe Ihat maintaining reserves at the levels stated. combirked with annual reviews of the controls over key financial systems, will provide enough resources in the event of adverse condib"ons. The TFUStees are aware of other operational and exlerrbal risks and compliance with law risks which The Trusl faces and confimi that they have considered mitigate the significant risks. FUTURE DEVELOPMENTS The Trust made an investrnent in Future Fuel, which. due to subsequent developments, has been subject to significant recoverabilily uncertainties. Following a detailed review and considering legal counsel's advice, a full provision has been made against the investment in this yearfs financial statements. This decision reflects the Trust's Gautious approach. recognising Ihe 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 il is received. Approved by order of the board of trustees on . and signed on its behalf by-. Trustee ANDREW SCOTLAND Page 4
GLOBAL HORIZONS TRUST INDEPENDENT EXAMINER'S REPORT TO THE CHURCH COMMnEE OF GLOBAL HORIZONS TRUST I r&port to the charity Iwstees on my examination of the accounts of Ihe Company for the y8ar ended 31 Augusl 2024. RESPONSIBILITIES AND BASIS OF REPORT As the Gharity's trustees of the Company I who are a150 direclors of the compatry for Ihe purposes of wmpany lawl, you are r8sponsible For Ihe preparation of the accounts acGorrJ3nce with Ihe requiremenis ol the Companies Ad 20061-the 2006 Acl"). Having Satisfe MSelf that the accounts of the Company are not required to bg audited for this year under Part 16 01 Iha 2006 Act and are elvJible for independent examination. I report in respect of my examination of y)ur ¢harity's accounts as carri out under section 145 of the Charities Act 2011 lllhe 2011 Act-l. In Ca my examinab"on. I hav8 followed Ihe DiredK)ns given by the Charity Commission (under section 14515llbl ol the 2011 ACL INDEPENDENT EXAMINERS STATEMENT I have completed my exanMnats"on. I confirm that no material matters have conE to my altention which gives me cause to believe Ihal.. accounting records were not kept in accoTdance th sedion 386 of the Companies Act 2006," or the accounts do not accord with such records.. or the accotjnts do not compfy with retevant accounting reouirewrEnts under Section 396 of the Companies Act 2006 other Ihan any requirement that the accounts give a'lrue and fairf view which 15 not a matler considered as part of an indeperKlenl examinatK>n- or the accounts have not ppare¢j in accordan wilh the melFK>ds and principles ol the Siatement of Recommended Practice for acwunting and reporting by charities, applicable to charities preparing thr accounts in accordance wth the FinanGÈal Reporbng Standard aptAicable in the UK and Repvblic ol Ireland IFRS 1021. I have no eonceins and have come across other matters in conneclion with examination to wh5ch attenuon should be drawn in this report in order lo enable a proper understanding of the aG¢ounls to be reachefj. enyon FCA er Rhodes Prolessiwal Services LLP hartered Accounianls Basement Floof Focus House Focus Way Yeadon LS19 7DB Dalè... Page S
GLOBAL HORIZONS TRUST STATEMENT OF FIIIAtrICIAL ACnVITIES FOR THE YEAR ENDED 31 AUGUST 2024 an Income and Expen¢Jtswe accountl Re5fricted Funds Year ended 31 August 2024 Totsl Funds Yur endèd 31 August 2024 Total Funds Year ended 31 Auw$i 2023 Funds Ye41 ended 31 Augu 2024 Ne INCOMING RESOURCES In¢om%ng YÈsou¥¢es Irom generaled ndS Vgluniary In¢A)me 16.936 4.036 20.972 47.631 Incoming resour¢¢$ from char6tth activbtios Advarhce the ChrisliaTr lth 41. 48260 6S.784 57 996 11.236 69.232 113.416 RESOURCES EXPENDED Charitable Activities Support Costs PretnkS Cost8 Graii15 & Gifts People G05ts Advan the Chrtsiart Fath Governance costs 130.639 11634 130.639 11.634 54.805 14.130 12.599 6.148 154.096 30.764 30.058 28.OS3 17.633 15.593 54.552 14.130 12.599 6.148 TOTAL RESOURCES EXPENDED 175.403 54.552 229.955 276.257 NET INCOMING I IQUTGOINGI RESOURCES 1117.40n (43.3161 1160.7231 1162.8421 Other ognISed gains 1105ses Investments a5 irrecover8Ne wffltipn Galftsflses di5posd of Irwe5thenl asse15 TraIle[ of funds 1250.0001 15.272 115.IYM)Tr 115.1x) 15.5051 NE[ MOVEMENT IN FUNOS { 126.9)21 148.8211 1175,7231 1397.5701 RECONCILIATION OF FUNDS:. B818ns broughl fo Rewalu31im reser Balances catr*d forwdTd 1.486.072 75 LXK) 1.434.170 57.544 1.543.616 75.OCO 1,442.894 1.941.186 8.724 1.$43.616 Page 6
GLOBAL HORIZONS TRUST BALANCE SHEEf AT 31 AUGUST 2024 Unrestricted Funds 31 August 2024 Restricted Funds 31 August 2024 Total Funds 31 August 2024 Total Funds 31 August 2023 Note FIXEO ASSETS Tangible assets Investments 860.988 153,425 1.014,413 860,988 153,425 1,014.413 958.479 120.484 1.078,963 URRENT ASSETS Debtors Cash at bank and in hand 10 151.045 302.492 151,045 311.216 178.710 320.508 8.724 453.537 8.724 462.261 499.218 CREDITORS Arnounts fallin9 due <1Yr 11 133.7801 { 33,7801 134,5651 NETCURRENT ASSErs 419.758 8.724 428,481 464,653 TOTAL ASSETS LESS CURRENT LIABILinES 1.434.170 8.724 1,442.894 1.543.616 NET ASSETS 1.434,170 8.724 1.442.894 1,543.616 FUNDS OF THE CHARITY Brought forward Nel incoming resources Revaluation of Property 12 1,48fj.072 1126.9021 75.txKI 57.544 148.821} 1.543,616 1175.7231 75.0()O 1,941.186 1397,570) Balances Caled forward 1.434,170 8.724 1,442.894 1,543,616 The COpanY was entityed lo exemption from audit under 5477 of the Companie5 Act 2006 relating to smal companies. The rnetnbers have not required the company lo obtain an audil in acrA)fdance wilh seciion 476 01 the Companies Act 2006. The directors a¢knoledge their fesponsibililies for complw'ng wlh the requirements of the Companies Act 2006 yth respect to accounting records and the pieparatioTr of accounts_ These accounts have been prepared in accordance th the Statefflent of Recommended Practice ISORP FRS1021. for charities issued by the Charity Commission and the Charities Acl 2011. The financial statements approved by the Trustees on .. Andrew Scotland Trnjstee Py7
GLOBAL HORIZONS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1. STATEMENT OF ACCOUNTING POLICIES The following are more important kn¢Junting Poficies acfopted by the Charity" al ACCOUNTING STANDARDS These acGounls have been prepared under the lllstorical cost fjonvention with items recognised at cost or transaction value unlgss otherwise stated in the relevant to these ac¢ounts. The accounts have been prepared In accordan with the Statement of Recommended Practicè". Accounting and Reporting by Charities preparing their accounts in acccxdance with the Financial Rewrting Standaid applicable in Ihe UK and Republi¢ of Ireland IFRS 1021 issued in October 2019 and with the Financial Reping Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and Trmth Ihe Chanlies Act 2011. bl INCOMING RESOURCES Ail incoming resources are included on the Statement of Financial Activities when Ihe charity is legally entI(d lo the income and the amount ¢an be quantified with reasonable accuracy. cl RESOURCES EXPENDED Expendilure is accounled for on an accru21s basis and has been dassified under headings Ihal aggregate all costs related to the category. Where costs cannot be direcvy attributed to particular headings Ihey have been allocated lo acliwties on 8 basis consistent with the use of resources. dl TANGIBLE FIXED ASSETS Depreciation is Provided at Ihe following annual rdtes in order to vrrite off each asset over ils estimated useful life. Propety - 20/y and 1°h on cosl Plant and rnachinery- 10% on redu¢ing balance Land is not depreuated el STOCKS Freehold Properties are included as stock where they are acltvely bèiro marketed for sale. Sale of properties are ¥ecognised on CoMet1. fl TAXATION The charity is exempt from corporation tax OD ils charitable tilIeS. Page 8
GLOBAL HORIZONS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 gl FUND ACCOUNTING Unrestricted funds can bg used in accordance with the charilable obiects'ves at the discretion of the trustees. Designated fuFKls are unrestricted funds eamiafked by the Truslees for particular Pufposes falling in ftjture time periods. ReslriGled funds can onty be used for parb(xJlar reslTiCted purposes within the obJ"eGts of the charity. Restrictson5 arise when specified by the donor or when funds are raised for partlCLdar $tricted purposes. Further explanation of the nature ancl purpose of &3Gh fvnd 15 indLKled in the report of the TTUStees. h) FIXED ASSET INVESTMENTS Fixe(5 asset investmersts a Initial re¢ognised al cosl and subsequently measured at market value. Changes in market value are recognise(1 as other recognised gains or losses on the Statement of Financial Adivitie5. All income ffoffl these investments Is included in the Slalemenl of Financial Activibes as interest receivab and siwnilar income. i) INVESTMENT PROPERTIES Property consideied by the Truslees lo be Investment PfOPeTty has been valued by the TtUStee5 VAth reference to their knowledge of the local property market and lo similar properltes and to the potential use of Ihe properties on a sale. Page 9
GLOBAL HORIZONS TRUST NOTES TO THE ACCOUNTS FOR THE YEAR EKIED 31 AUGUST2024 VOLUNTARY114COME Vnresthcted Funds Yearendqd 31 Auyust2024 Totsl Funds YeareDthd 31 uSt2024 Total Funds Year ended 31 August 2023 FrS 31 1224 Donaliorts 1.168 643 518 23.237 1.371 1.16B 642 518 13.237 1,371 675 2.969 37.047 1,7Y missio Fui Church Tilbes GerEral 02H Gift Ai HO for Ir¥Jia DOlbor6 1.1( 2.930 2.930 20.972 3152 47.631 16.W ADVANCE THE CHRISTIAN FArrH Vnre¥lrj¢thd Funds Yearendèd 31 Auwst2024 T¢)tal Futtds Yèarended 31 9}tst 2024 Total Funds Year ende¢J 31 August Z023 31 Augy$t2tr24 Lgadets 08yS TepIt 8uk1ifvJs AET DonaDu AET Gitt Aid 02H Irme 615 40.0 15.351 1.323 S.495 65.784 40.tJix) 40.orK) 337 33T 663 6.863 41.(ffj0 SUPPORTCOSTS Total Funds Yeèr ended 31 August 2023 Fund5 Yearend 31 Au9itst2D24 Funds Year ended 31 Awust 2024 Funds Yearendèd 31 gUSt 2024 Tplephune 3t* Fax CompiitÈr sOare & MaintenxKe Prmlity. Posiage & qt2ts0nery LilerJlyr¥. Bod(5 & ktrediia11 Fee Sur¥Jry Exp5 Legal and Prafe5siLwI Fees Ttsvel and Sub&stence Depreualion ol LEasetyA¢ Pfup&1y De0clabOr1 tsl Flxknosw Fimngs 6.4B8 953 6.488 953 4.952 1.255 176 3.730 5.4 88.017 18.324 10 408 4695 79.711 6.1 1.348 5.357 1Y. 5.459 8B.017 1&324 5.230 130.639 5.2 130,639 PREMISES COSTS Unfestheted Funds Yearended 31 August 2 Totsi Fupdy Year Ended 31 AugLlSt2024 Total FuThd5 Year end¢d 31 ALJgust 2023 Fund5 Yearerthd 31 fv¥yu5t2D24 Facliknes IrtsJrance 70.070 10.070 29.033 1.730 30.764 P•lO
GLOBAL HORIZONS TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 PEOPLÈ COSTS UnrestrÉcted Funds Totsl Funds Year ettded 31 August 2024 Total Funds Year ended 31 Au9uyI 2023 Funds 31 Augts 2024 31 Auyiis12024 Wages Salaries Furfough Gr8nt hcome PrornDlion of the College 7.663 14.705 5.f95 7.115 7.015 7.115 7.015 14.130 14.130 28.063 No s14ff membefs WEre pails ffl(xE than £50.0W. The aVere numberolempb>Ee5. caltxAaled on a tulkbme equiwdlefjlba56. aftdysed by was" Yearended 31 AJJgust 2D24 Yeaf enLled 31 Auguyt 2023 Managernent and administra11 of the chanly ADVANCE THE CHRISTIAN FAITh UTrrestricted Fund5 Year ended 31 August 2W24 Restricied Funds Year ended 31 August 2024 Yolal Fund5 Year ended 31 August 2D24 Total Fund$ Year eNled 31 A¥9LlSt 2023 M3rkeli Bennel Street Cosis King Edward Street CDs1s Aspen Walk fosls Londim Road C(15 Leadership Ac8demy C051S Mumble5 Bay Flat Costs 5.189 4.947 11.4811 5,189 4.947 11,481 3,271 5.086 5.855 477 187 1.005 2.939 1.005 2.939 2.711 12.599 12.599 17.683 GOVERNANCE COSTS Total Fund5 Year gndÈd 31 August 2024 Total Funds Year ended 31 August 2023 Funds Year ended 31 Aug1 X¢24 Fund5 Year ended 31 Aug12024 48 6.100 10.193 5.400 Gener31 Costs Accountsnty 48 6.100 6.148 6.148 15.593 FIXED ASSETS Freehold Pfoperty Leasets)kl PropErty Fitling5 To$ CO or vahJatioTh al 1 September 2023 Aédilions DIsFW)S ReVu2110n ?.[ 134ffj18 85.2&7 4.087 -015.101 4.087 1170,(YJOI 75.000 75.LKYJ Cost at 31 August 2024 700,0 134.818 89.370 924,188 Deprecialn at 1 Sepiember YJ23 D8pcialion Charge Depreciaiion oft Disposal 19.$47 37.075 5.230 56.622 6.57B Deprecialion £t 31 Auw 2024 20WS 42.305 63.200 Nei book vawie ai 31 Augusi 2024 7.(?0 113.923 47 Q65 .98S Nei book va al 31 Awsi 2023 795.QOD 115.271 48.2 958.479 The FFhold property has been valued wlh reference to histL niatkeidgta en1VerlS. and supwned by an INSePeJeThIV8lUe'S assessm8nt on a va<*nl possession basE Ih? lease remairmng. P8ge11
GLOBAL HORIZONS TRVST NOTES TO TIE ACCOUNTS FOR THE YEAR ENOED 31 AUGUST 2024 to. DE8TORS Year ende 31 Augu8t 2024 Year ended 31 Au9llSt 2023 Unresrricled Fu Other deblor5 IlnGludÈs an of£150K Is recoverable more than a stratrlhe repcrfthj ate) 151.045 778.710 151.045 178.710 Restricted Fund Tutal Fund 151.045 178.T10 11. CREDITOR5 .' amounts due wlthln one year Yearended 31 August 2024 Year wd¢d 31 August 2023 TrÈ(le Credir5 Other credilors 9.372 24.409 14,031 20.534 33.781 34.565 12. RESERVES As at 4.23 Transfer of FuThJs RevthatiQYE of Property As at 318-24 Balance Movernert In Funts Unrestrlcipd funLIs General fund 1.486.071 1.486 071 IY2.4071 (132.4071 1.359.170 1.359.170 YJ9 Rèstrictgd funds Hope for India OppoTrunity 2 H(ye Alrica EDleTprL8e TfUS1 15Cfj1 2,231 40.252 14.24101 35.880 131 879) 12.0971 141.5561 337 8.724 18.7101 57 545 12391 143.3161 15.2661 8.724 Property Revaluation 75,000 75,WO Tolal Funds 1.543.616 1175.7231 7&000 1,442.894 In prepariw the financbal 5ts1emerts. an error In tre cL8ssi(8t of rtaITr exf tVe ifidmdu Funds WÈS Klelltified. sIrj in 2038. Te correc*on noled atxjve addresses theerTtrs idenbfTe(J. Nel movement in furuls. Niduded in ihe abDve are as fdkNv5'. kKomtng Resources expendEd Gain and Losses Mtsvement kn lunds Unrestrl¢ted funds General tund 57 YJ6 1175.4031 115.OWI 1132.4071 R88tr¢¢tod lundts Hope for Indk9 Opportunty 2 Hope Africa Enterprise Tfusi I S.027 j 149.5251 12.0971 14";.5561 337 337 Totsl Funtls 69.231 1229.9561 115,000 1175,7231 1). TRANSACTIONS WITH TRUSTEE5 A K ScoiL7nd reIved lees of£Nil (2023". £Nil) during the year etsled 31 AtwsI21)24. 14. CONTROLLING PARTY The Church was trOlled by Trust5 tsouglmxjl fv current atKI prev . Pa9e 12