2022-12-31-accounts - Next Wave International

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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 2022

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 2022

		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 2022

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 2022. 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

Coaching of strategic leaders in the church and marketplace remains a priority.

We are delighted with the reports received from leaders we have equipped in this way. Among the reports are some very exciting stories of growing maturity, favour and influence.

A few months ago, we began planning the first of what we hope will be a series of Digital Round tables on "Church and AI". A great deal of work went into preparing something a little different. It set out to communicate the possibilities of AI not only in the content, but in the presentation - especially visually.

We are committed to running other similar events throughout the year.

In 2022, this mission continued its long-standing commitment to work with churches on a variety of levels. And to help Christians and churches, with their leaders to engage the present culture, and prepare for future influence.

Media

During 2022 through early 2023, Next Wave International, through its media commentary, helped thousands of people in the UK and beyond to better prepare for the future. Videos featuring a number of these interviews, on outlets including the BBC, can be found at youtube.com/malfletcher. Highlights include an extended interview with BBC radio on major technologies to watch for in 2023.

This year also saw a 30-minute special biographical feature interview for the "Sure Reality" TV programme (Revelation/TBN TV); an extended interview on AI (Transworld radio), and podcasts with groups including Evangelical Alliance, UK ("Talking Jesus", Spotify).

Our futures and social commentary and leadership articles featured again in online news and opinion magazines (e.g. SIGHT Magazine, Online Opinion).

Our research and media releases once again focused particularly on the human impact of emerging technologies - particularly on AI, cashlessness and more.

Once again, this year saw a significant, almost daily engagement with social media, across numerous platforms.

Social media represents a significant opportunity to engage - and perhaps to help shape - the cultural conversation, with curiosity. Especially if a percentage of one's "followers" are leaders.

Our media team, launched in 2019, has continued to generate and carry through new ideas.

We continue to push for greater, targeted exposure online and in mainstream media, and will focus particularly on advance co-ordinated approaches to news stories.

Challenges

Many organisations that we work with, are continuing to deal with the negative impact of the pandemic. This has brought challenges regarding speaking engagements, and other income streams.

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

Launched Feb 2020 on GoFundMe.
To date, £22,000 has been raised.

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REPORT OF THE TRUSTEES for the Year Ended 31 December 2022

OBJECTIVES AND ACTIVITIES

Public benefit

Provide a positive, future-facing and skills-enhancing APOLOGETIC for Christian worldview and values in the mainstream marketplace of ideas, services and civic influence.

Inspire many thousands of emerging and existing marketplace and civic leaders to see their role as a divine vocation and to equip them with future-shaping skills.

Mobilise hundreds of churches and other faith-based organisations to pro-actively engage with the marketplace and civic life, building relationships of trust with influential city leaders.

This year marks the 30th anniversary of the founding of Next Wave International in 1993.

We are deeply grateful for every visionary, faithful church leader and individual who has partnered with us along the journey.

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

Going into 2023 year, we can look forward to Next Wave International's investment in the following:

Media and Press Commentary, new platforms, strategic pitches, and a still growing presence on the internet.
Churches and Christian Events across Europe.
Leadership Coaching Programme.
University Missions.
Digital Roundtables and Webinars.
Keynotes for non-church/civic events.
Continued investment in leaders.
Publishing / New Resources.

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.

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

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REPORT OF THE TRUSTEES for the Year Ended 31 December 2022

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.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.............................................................................. 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 2022.

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:

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
the accounts do not accord with those records; or
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
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.

Maurice Brindley BSc FCA

Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH

Date: .............................................

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STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 December 2022

				31.12.22	31.12.21
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies		51,849	-	51,849	57,966
Charitable activities
Missionary		2,000	-	2,000	3,314
Investment income	2	1	-	1	-
Other income		-	-	-	9,150
Total		53,850	-	53,850	70,430
EXPENDITURE ON
Charitable activities
Missionary		65,287	-	65,287	61,890
NET INCOME/(EXPENDITURE)		(11,437)	-	(11,437)	8,540
RECONCILIATION OF FUNDS
Total funds brought forward		32,534	-	32,534	23,994
TOTAL FUNDS CARRIED FORWARD		21,097	-	21,097	32,534

The notes form part of these financial statements

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NEXT WAVE INTERNATIONAL (REGISTERED NUMBER: 05208960)

BALANCE SHEET

31 December 2022

				31.12.22	31.12.21
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	9	2,419	-	2,419	12,273
Cash at bank		22,584	-	22,584	22,271
CREDITORS		25,003	-	25,003	34,544
Amounts falling due within one year	10	(3,906)	-	(3,906)	(2,010)
NET CURRENT ASSETS		21,097	-	21,097	32,534
TOTAL ASSETS LESS CURRENT LIABILITIES		21,097	-	21,097	32,534
NET ASSETS		21,097	-	21,097	32,534
FUNDS	11
Unrestricted funds				21,097	32,534
TOTAL FUNDS				21,097	32,534

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(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 signed on its behalf by:

.............................................

M K Fletcher - Trustee

............................................. C Urquhart - Trustee

The notes form part of these financial statements

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NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2022

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 2022

2. INVESTMENT INCOME

2.	INVESTMENT INCOME
		31.12.22	31.12.21
		£	£
	Deposit account interest	1	-
3.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure) is stated after charging/(crediting):
	Independent Examination Fee	31.12.22 £ 1,320	31.12.21 £ 1,362
4.	TRUSTEES' REMUNERATION AND BENEFITS
	Trustees' salaries	31.12.22 £ 30,000	31.12.21 £ 30,000
	Trustees' social security	2,131	1,348
		32,131	31,348

The trustees consider its employed staff as the key management.

The charity remunerated £48,000 to its trustees and key management during the year of which £48,000 was gross pay (2021: £48,000 gross and £1,396 employer's NI).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

	All Employees		31.12.22 2		31.12.21 2
	No employees received emoluments in excess of £60,000.
6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL	ACTIVITIES
	INCOME AND ENDOWMENTS FROM	Unrestricted fund £	Restricted fund £		Total funds £
	Donations and legacies	57,966		-	57,966
	Charitable activities
	Missionary	3,314		-	3,314
	Other income	9,150		-	9,150
	Total	70,430		-	70,430
	EXPENDITURE ON
	Charitable activities
	Missionary	61,890		-	61,890
	NET INCOME	8,540		-	8,540

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted Restricted fund fund £ £ RECONCILIATION OF FUNDS Total funds brought forward 23,994 - TOTAL FUNDS CARRIED FORWARD 32,534 -	Total funds £ 23,994 32,534

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

	COST			Computer equipment £
	At 1 January 2022 and 31 December 2022			2,167
	DEPRECIATION
	At 1 January 2022 and 31 December 2022			2,167
	NET BOOK VALUE
	At 31 December 2022			-
	At 31 December 2021			-
9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	Other debtors		31.12.22 £ 2,419	31.12.21 £ 12,273
10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	Social security and other taxes		31.12.22 £ 1,380	31.12.21 £ 120
	Credit Card		1,164	528
	Accrued expenses		1,362	1,362
			3,906	2,010
11.	MOVEMENT IN FUNDS
	Unrestricted funds	At 1.1.22 £	Net movement in funds £	At 31.12.22 £
	General fund	32,534	(11,437)	21,097
	TOTAL FUNDS	32,534	(11,437)	21,097

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022

11. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	53,850	(65,287)	(11,437)
TOTAL FUNDS	53,850	(65,287)	(11,437)
Comparatives for movement in funds
Unrestricted funds	At 1.1.21 £	Net movement in funds £	At 31.12.21 £
General fund	23,994	8,540	32,534
TOTAL FUNDS	23,994	8,540	32,534
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds	Incoming resources £	Resources expended £	Movement in funds £
General fund	70,430	(61,890)	8,540
TOTAL FUNDS	70,430	(61,890)	8,540

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds	At 1.1.21 £	Net movement At in funds 31.12.22 £ £
General fund	23,994	(2,897) 21,097
TOTAL FUNDS	23,994	(2,897) 21,097

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds	Incoming Resources resources expended £ £	Movement in funds £
General fund	124,280 (127,177)	(2,897)
TOTAL FUNDS	124,280 (127,177)	(2,897)

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022

12. RELATED PARTY DISCLOSURES

During the year D Fletcher, spouse of the trustee M Fletcher, received remuneration totalling £18,000 of which £18,000 was gross pay (2021: £18,000 gross pay and £48 employer's NI).

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DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2022

----- Start of picture text -----
|||| |---|---|---| |31.12.22|31.12.21| |£|£| |INCOME AND ENDOWMENTS| |Donations and legacies| |Donations Received|51,849|57,966| |Investment income| |Deposit account interest|1|-| |Charitable activities| |Fund generation|2,000|3,300| |Book sales|-|14| |2,000|3,314| |Other income| |-| |CJRS grant|9,150| |Total incoming resources|53,850|70,430| |EXPENDITURE| |Charitable activities| |Trustees' salaries|30,000|30,000| |Trustees' social security|2,131|1,348| |Wages|17,011|18,000| |Social security|-|48| |Telephone|3,056|2,881| |Postage and stationery|83|79| |PR (Literature & Brochures)|-|45| |Sundries|-|122| |Travelling|5,949|2,728| |Subscriptions|449|-| |Office expenses|1,464|1,296| |Premises costs|3,000|3,000| |Advertising|188|-| |Bank interest|212|215| |63,543|59,762| |Support costs| |Governance costs| |Accountancy and legal fees|1,744|2,128| |Total resources expended|65,287|61,890| |Net (expenditure)/income|(11,437)|8,540|

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This page does not form part of the statutory financial statements

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