REGISTERED COMPANY NUMBER: 05208960 (England and Wales) REGISTERED CHARITY NUMBER: 1109710
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
NEXT WAVE INTERNATIONAL
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
NEXT WAVE INTERNATIONAL
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
| Detailed Statement of Financial Activities | 12 |
NEXT WAVE INTERNATIONAL
REPORT OF THE TRUSTEES for the Year Ended 31 December 2021
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 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principle activities of the charitable company in the year was those of a Christian mission to contemporary cultures, spreading the Christian message and values via media and leadership development in major cities across Europe and the world.
Significant activities
2021 was a year of new opportunity and predictably, given the pandemic, significant challenge.
Opportunity:
The arrival of Covid 19 saw doors opened, in the church world and beyond.
Educational
Throughout the year, there were digital summits/conferences for several groups and churches.
There were also 2 Next Wave International and 2030Plus, co-sponsored series' for church leaders: "Church Beyond Covid 19" and "Church in Transition". There were six sessions in all, with 65 Churches & church-based leaders from nine nations (Europe, Australia, North America).
Next Wave International also produced digital sermons, for several churches.
Media
On the media side, the Covid emergency has produced interest in Mal's role as a futurist. A number of these interviews were longer, and deeper in terms of issues.
Among other encouraging developments has been a rise in people accessing the site from China. (USA and China are now providing the first and second highest numbers of hits.)
The charity is actively pursuing media activity, while simultaneously applying the research material to be relevant and informative for church leaders, both now and in the future.
Challenges
This period has had significant challenges.
Financial.
The mission took a major hit with the elimination of travelling ministry, our largest source of income. But there have been positive results with:
Media Missions Appeal
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Launched Feb 2020 on GoFundMe.
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To date, £22,000 has been raised.
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NEXT WAVE INTERNATIONAL
REPORT OF THE TRUSTEES for the Year Ended 31 December 2021
OBJECTIVES AND ACTIVITIES
Public benefit
All our charitable activities focus on promoting Christian worldview, ethics and social action, in the interests of the common good and the betterment of society for all its members.
Our objects and funding primarily focus on serving churches, faith-based NGOs and other organisations and their leaders across the UK and in Europe. We provide intensive training events and materials to equip leaders in these organisations to better engage with projects for ethical and social improvement.
Our services include positive representation of Christian ideals and practical solutions within public forums such as media and new media (in a proactive, inclusive and forward-looking way.)
Our services are normally provided to partner/host organisations in exchange for a donation or honorarium. We receive some funding from regular donors.
Our priority is to work with churches, NGOs and other Christian faith-based organisations who are committed to proactively engaging the future development of their region, while partnering with civic leaders in the provision of services for the wider community and the common good.
Some of our partners have, as local charities and organisations, with our help and training, inspired their members to create social enterprises, the sole aim of which is addressing specific social problems (e.g. promoting housing for the poor, child support and working against people trafficking at home and abroad).
We participate in partnership arrangements with like-minded groups in the community, who have similar goals, outside the Christian church.
Though we are not a solely evangelistic organisation, we promote the proclamation of the Christian message, in a positive way, via events and other programmes co-hosted by local churches and other faith-based organisations.
FINANCIAL REVIEW
Reserves policy
The Trustees believe it prudent to hold running costs for 3 months in unrestricted current assets. We hope to achieve this level through the generosity of our donors. We are planning to increase the reserves as finances allow.
FUTURE PLANS
Looking into 2022, there is still not huge activity on the speaking side, but already some interesting doors have opened. Empowered 21 : a Europe-wide network of church leaders. Three events are planned in 2022, with Mal being a keynote speaker in each. There are also proposed engagements in Amsterdam, Berlin and London.
This charity continues to be affected by the financial and social fallout of Covid 19.
There is a reshaping of the meetings scene in the UK, and probably worldwide. Post-Covid there will likely be a pulling away from big gatherings and events.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Existing trustees for the charity have been recruited over time for the following qualities: long and successful leadership in growing UK churches and Christian charities; a proven long-term record of quality leadership of Christian churches and/or charities; the highest level of personal integrity; competence in strategic planning and fiscal responsibility; a commitment to engagement with social challenges and needs.
In the period covered by this report, no new trustees were recruited. However, the present trustees remain committed to seeking out the best possible talent for consideration as potential additions to the trustee group, using the criteria listed above and government guidelines and requirements.
Trustees are kept up to date with changes in trustee responsibilities via mail-outs and board meetings - including annual meetings in person and extraordinary meetings via phone conferences.
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REPORT OF THE TRUSTEES for the Year Ended 31 December 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Management
Management of the charity is undertaken by the Director Mal Fletcher, who is employed full-time by the charity. His responsibilities include: promoting the goals and interests of the charity; ensuring day-to-day management; promoting funding of the charity; forward-planning (in consultation with trustees); compliance (in conjunction with trustees). Administrative assistance is provided by Davina Fletcher, who is employed on a part-time basis. Her duties include: bookkeeping; constructing annual accounts (in conjunction with the accountants); travel planning and general office administration.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 05208960 (England and Wales)
Registered Charity number 1109710
Registered office 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
Trustees
S G Bell Rev M K Fletcher Rev C Urquhart
Company Secretary Rev C Urquhart
Independent Examiner Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Sep 15, 2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Mal Fletcher (Sep 13, 2022 10:53 GMT+1).............................................................................. Rev M K Fletcher - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEXT WAVE INTERNATIONAL
Independent examiner's report to the trustees of Next Wave International ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors 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 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 matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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
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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.
mwbrindley mwbrindley (Sep 15, 2022 13:58 GMT+1)
Maurice Brindley BSc FCA Institute of Chartered Accountants in England & Wales Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
Sep 15, 2022 Date: .............................................
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STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 December 2021
| 31.12.21 | 31.12.20 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 57,966 | - | 57,966 | 60,375 | |
| Charitable activities | |||||
| Missionary | 3,314 | - | 3,314 | 127 | |
| Investment income | 2 | - | - | - | 1 |
| Other income | 9,150 | - | 9,150 | 9,946 | |
| Total | 70,430 | - | 70,430 | 70,449 | |
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Missionary | 61,890 | - | 61,890 | 61,126 | |
| NET INCOME | 8,540 | - | 8,540 | 9,323 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 23,994 | - | 23,994 | 14,671 | |
| TOTAL FUNDS CARRIED FORWARD | 32,534 | - | 32,534 | 23,994 |
The notes form part of these financial statements
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NEXT WAVE INTERNATIONAL (REGISTERED NUMBER: 05208960)
BALANCE SHEET
31 December 2021
| 31.12.21 | 31.12.20 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 9 | 12,273 | - | 12,273 | 15,235 |
| Cash at bank and in hand | 22,271 | - | 22,271 | 10,122 | |
| 34,544 | - | 34,544 | 25,357 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 10 | (2,010) | - | (2,010) | (1,363) |
| NET CURRENT ASSETS | 32,534 | - | 32,534 | 23,994 | |
| TOTAL ASSETS LESS CURRENT | LIABILITIES | 32,534 | - | 32,534 | 23,994 |
| NET ASSETS | 32,534 | - | 32,534 | 23,994 | |
| FUNDS | 11 | ||||
| Unrestricted funds | 32,534 | 23,994 | |||
| TOTAL FUNDS | 32,534 | 23,994 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
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The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were Sep 15, 2022 signed on its behalf by:
Mal Fletcher (Sep 13, 2022 10:53 GMT+1)
.............................................
M K Fletcher - Trustee
Clive Urquhart
Clive Urquhart (Sep 15, 2022 09:51 GMT+1)
............................................. C Urquhart - Trustee
The notes form part of these financial statements
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NEXT WAVE INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements and assessment of going concern
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The financial statements are presented in sterling (£).
Critical accounting judgements and key sources of estimation uncertainty
In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.
Useful economic life of tangible fixed assets:
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Computer equipment - 33% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Fund accounting
Unrestricted funds are those available for use at the discretion of the directors in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.
Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
Creditors
Creditors are recognised where then charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.
continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021
2. INVESTMENT INCOME
| 2. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Deposit account interest | - | 1 | |
| 3. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Independent Examination Fee | 1,362 | 1,362 | |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS | ||
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Trustees' salaries | 30,000 | 30,000 | |
| Trustees' social security | 1,348 | 1,035 | |
| 31,348 | 31,035 |
The trustees consider its employed staff as the key management.
The charity remunerated £49,396 to its trustees and key management during the year of which £48,000 was gross pay and £1,396 was employer's NI (2020: £48,000 gross and £1,359 employer's NI).
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
6.
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| All Employees | 2 | 2 | |
| No employees received emoluments in excess of £60,000. | |||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | ||
| Unrestricted | Restricted | Total | |
| fund | fund | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 60,375 | - | 60,375 |
| Charitable activities | |||
| Missionary | 127 | - | 127 |
| Investment income | 1 | - | 1 |
| Other income | 9,946 | - | 9,946 |
| Total | 70,449 | - | 70,449 |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Missionary | 61,126 | - | 61,126 |
| NET INCOME | 9,323 | - | 9,323 |
continued...
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NEXT WAVE INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| £ | £ | £ | |||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 14,671 | - | 14,671 | ||
| TOTAL FUNDS CARRIED FORWARD | 23,994 | - | 23,994 | ||
| 7. | GUARANTEE STATUS | ||||
| The charitable company is limited by guarantee, which means that every member undertakes to | contribute to the assets of the | ||||
| charitable company in the event of a winding up, including any | members up to one year after ceasing | to be a member, such | |||
| amounts as may be required not exceeding one pound. |
8. TANGIBLE FIXED ASSETS
| 8. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Computer | ||||
| equipment | ||||
| £ | ||||
| COST | ||||
| At 1 January 2021 and 31 December 2021 | 2,167 | |||
| DEPRECIATION | ||||
| At 1 January 2021 and 31 December 2021 | 2,167 | |||
| NET BOOK VALUE | ||||
| At 31 December 2021 | - | |||
| At 31 December 2020 | - | |||
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.12.21 | 31.12.20 | |||
| £ | £ | |||
| Other debtors | 12,273 | 15,235 | ||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.12.21 | 31.12.20 | |||
| £ | £ | |||
| Social security and other taxes | 120 | - | ||
| Credit Card | 528 | - | ||
| Accrued expenses | 1,362 | 1,363 | ||
| 2,010 | 1,363 |
continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021
11. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.1.21 | in funds | 31.12.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 23,994 | 8,540 | 32,534 |
| TOTAL FUNDS | 23,994 | 8,540 | 32,534 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 70,430 | (61,890) | 8,540 |
| TOTAL FUNDS | 70,430 | (61,890) | 8,540 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.1.20 | in funds | 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 14,671 | 9,323 | 23,994 |
| TOTAL FUNDS | 14,671 | 9,323 | 23,994 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 70,449 | (61,126) | 9,323 |
| TOTAL FUNDS | 70,449 | (61,126) | 9,323 |
| A current year 12 months and prior year 12 months combined position is as | follows: | ||
| Net | |||
| movement | At | ||
| At 1.1.20 | in funds | 31.12.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 14,671 | 17,863 | 32,534 |
| TOTAL FUNDS | 14,671 | 17,863 | 32,534 |
continued...
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NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 140,879 | (123,016) | 17,863 |
| TOTAL FUNDS | 140,879 | (123,016) | 17,863 |
12. RELATED PARTY DISCLOSURES
During the year D Fletcher, spouse of the trustee M Fletcher, received remuneration totalling £18,048 of which £18,000 was gross pay and £48 was employer's NI (2020: £18,000 gross pay and £324 employer's NI).
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