Faith, Truth & Hope Financial Ststements for the year ended 30 June 2024 Company Number 6362334 Charity Number 1121897
Faith, Truth & Hope Financial Ststements for the year ended 30 June 2024 Pages Contents Information Directors Annual Report 1to5 Independent Examination Statement of f inancial activities Balance Sheet Notes to the financial statements 9 to13
Faith. Truth & Hope Charitsble Company InfOnatiOn Directors/ Trustees Andrea Williams Celia Collins John Lloyd Dr Kevin Vaughan Brian Henry Phillip Michael Ross-smith appointed 20 June 2024 Samantha Wei Ling Yap appointed 20 June 2024 Charity Number 1121897 Company Number 06362334 Charity Registered Office 70 Wimpole Street London WIG 8AX Independent Examiner Gary Peter Brookes FCA 8Sc 130 Wombourne Park Wombourne Wolverhampton IAIV5 OLY Bankers Barclays Bank PLC Benet Street Cambridge
Faith Truth and Hope Directors Report and Financial Statements for the year ended 30 June 2024 Directors. Report for the year ended 30 June 2024 Structure. govemance and management Faith, Truth and Hope is a charitable company limited by guarantee constituted by a set of Memorandum and Articles of Association incorporated on 5 September 2007. This charity exists to advance the Christian faith and to pursue such other charitable purposes as the trustees from time to time think fit. The directors who are also trustees of the charity are named within this document and have served either throughout or during the year ended 30 June 2024. The trustees met and communicated with each other throughout the year to manage the affairs of the charity. Public Benefft The trustees have a strong desire to preserve the Christian heritag8 of our nation which is distinctive and of enormous public benefit. The Christian faith has done much to shape our society for good and for the benefit of all. The trustees have referred to the general guidance provided by the Charity Commission on public benefit when reviewing the aims and objectives and in planning current and future activities. The charity has continued to advance the Christian faith by sponsoring activities and by making grants to other Christian organisations. Reflecting the trustees. commitment to the future and raising up a generation of younger Christians who will be able to impact the church and the world. the charity has supported leadership development activities for young people. These are particularly focussed on undergraduates and young professionals. who are believed to be strong future leaders. and who are already interested in understanding the relevance of the Christian gospel in modern society and are prepared to think through its practical outworking in the future. As in prior years, grants were made to fund presentations and exhibitions in churches and online, designed to educate and increase awareness of Christian ethics and responsibilities in the twenty first century. The trustees remain confident that the Christian faith is being advanced through grants. with significant public benefit both now and in the future. Objectives and activities The direction of the charity has remained unchanged in the short term and the trustees will continue to review the activities in future to meet the main objective of advancing the Christian faith. The trustees are grateful for the faithful support from all donors. During the year. the charity received donations from several hundred donors, with some exceptionally generous support f rom private individuals. Page 1
Faith Truth and Hope Directors Report and Financial Statements for the year ended 30 June 2024 The charity has continued to support events run by Christian Concern which are. in the majority. free to enter. publicly advertised and open to all. The events seek to inform and educate those in attendance about modern ethical and moral issues and the latest political. legal and cultural developments and to interpret them in the light of biblical teaching, particularly where there may be issues of concern to those of the Christian faith. During this period, Christian Concern either hosted or was invited to speak at a total of 118 events lexcluding Round the Table). For example, Education Revolution gathered ov8r 220 people from across the UK with v8ry positive feedback. The event aimed to help support and equip faithful Christians who are wanting to develop bold education initiatives, and also those who are seeking to remain faithful in the education sphere. Christian Concern continued to host a weekly online podcast. known as Round the Table. where members of the team invited guests to discuss Christian perspectives on topical issues. Round the Table was watched live by an average ol 40 people each week. and thousands have watched since with an average total viewing of 1030 per episode. Faith, Truth & Hope continues to support Christian Concern's work to inform and equip communities online by providing a free education, news and information service. Faith Truth & Hope has continued to support the work of the Wilberforce Academy. In September 2023 over 70 delegates attended the Academy for a week of training and equipping in Christian cultural engagement and biblical worldview. There has been significant growth and development of the Wilberforce alumni community leading to the launch of the Wilberforce Collective, a hub for Christian cultural engagement and thought leadership. The Refocus Days. days of further teaching. t8Stimonies and fellowship. have continu8d to see strong attendance. The Wilberforce Cultural Leadership Programme took place for a fourth time in partnership with Crosslands Training. with over 20 young adults completing the programme. The programme equips and empowers delegates to faithfully engage with their spheres and communities. Faith Truth & Hope continued to support the work of Wilberforce Publications Limited, which publishes books (including e-booksl that assist and encourage readers to understand different areas of society, culture. politics and philosophy. and apply Christian thinking. An '80th Anniversary of D-Day' edition of Beyond the Odds.. Prowdence in Britain s W8rs of the 20th Centurywas released in hardback format during the year. Work commenced on The Nation's Gospel Volumo 311900-79451, a substantial tome. which is expected to be released by the end of 2024. Work is also underway on two other forthcoming titles. Page 2
Faith Truth and Hope Directors Report and Financial Statements for the year ended 30 June 2024 Financial R8suIts and Reserves The charity's policy on reserves is to retain relatively low levels of finance within the company. The charity received income of £984.263. disbursed £981.493. leaving net income of £2.770. bringing net assets at the year end to £11.026. The charity has no significant liabilities or ongoing costs of its own; the trustees therefore consider the risk associated with minimal working capital to be very low. It is important for the charity to sustain and maximise fundraising efforts so that it can continue to support the activities the trustees have identified and is in regular contact with the charity's supporters. During this financial year. th6 majority of the trust's income has again been applied to charitable activities carried out by Christian Concern. The following activities of Christian Concern were sponsored by Faith, Truth & Hope during the year lexcluding grants paid in advance last yearl: Wilberforce Academy Supporter communications Church events Education Research Wilberforce Publications Totsl £180,000 £437,720 £118,000 £84.000 £73.000 £47,000 Risk Policy Risk Management is monitored via regular Board meetings to ensure the charity operates within existing and potential regulation and legislation. Ststement of director3. respon3ibiliti88 The directors are required under Company Law to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the company and of its results for that period. In preparing those financial statements the trustees are required to., lal select suitable accounting policies and apply them consistently Ibl make judgments and estimates that are reasonable and prudent Icl prepare the financial statements on a going concern basis unless it is inappropriat8 to assume that the charity will continue in business. The directors are responsible for the keeping of proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for the safeguarding of the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 3
Faith Truth and Hope Directors Report and Financial Statements for the year ended 30 June 2024 The financial statements have been prepared in accordance wrth the accounting policies set out in notes of the financial statements and comply with the charity's Memorandum and Articles of Association. applicable law and the requirements of the Statement of Recommended Practice. "Accounting and Reporting by Charities" origin811y issued in 2015 and now updated in October 2019, The board agreed and approved this report at the meeting on 10th of October 2024. Truste8 Signature Trustee Name ..J.ohn.Uoyrt................. Page 4
Faith. Truth & Hope Directors Report for the year ended 30 June 2024 This is a blank page Page 5
Faith, Truth & Hope Independent Examiners Report For the year ended 30 June 2024 I report to the charity trustees on my examination of the accounts of the company for the year ended 30 June 2024 which is set out on pages 7 to 13. Responsitslit&s andbasts of rewrt As the charity trustees of the company Iwho are treated as directors for the purposes of the company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061 'The 2006 Act, I Having satisfied myself that the accounts of the company are not required under Part 16 of the 2006 Act and are eligible for independent examination , I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act Ind8pendent Examiners Statem8nt Since the Company's gross income exceeded £250.000 your exarniner must be a member of a body list8d in section 145 of the 2011 Act. I can confirm that l am qualified to undertak8 the examination because I am a member of The Institute Of Chartered Accountants for England and Wales 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 that in any material respect ', 111 accounting records were not kept in respect of the company as required by section 386 of the 2006 Act, or 121 the accounts do not accord with those records.. Of 131 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that he accounts give a 'true and fair view which is not a matter considered as part of an independent examination ,'or 141 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 ReDublic of Ireland l FRSI 021. 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 ol the accounts to be reached. Signed Date 11 2024 Gary Peter Brookes Fellow of The Institute of Chartered Accountants of England and Wales 130 Wombourne Park Wombourne South Stsffs WV5 OLY Page 6
Faith. Truth & Hope Ststement of Financial Activities lindwjing and ExperKlitiJTe P£o)un for the year ended 30 June 2024 UNRESTRicfED Funds RESTRICTED Funds Totsl Funds Totsl Funds Notss 2024 2024 2024 2023 Income Donations and grants Gift Aid tax refunds Other income 864.113 86,348 7.802 958,263 864,113 86,348 33,802 984.263 616,107 86,851 26,000 26,000 Totsi 702.960 Expenditure Charitable activities 955,493 26,000 987.493 697,473 Totsl 955,493 26,000 981,493 697,473 Net Income 2,770 2.770 5.487 Reconciliation of funds Funds brought lorward l July2023 Total funds carried forward 30 June 2024 8.256 8,256 11,026 2. 769 11,026 8,256 There were no recognised gains or losses for 2024 or 2023 other than those included in the Statement of Financial Activities Page 7
Faith, Truth & Hope Balance Sheet As at 30 June 2024 Note 2024 2023 Current Assets Debtors Bank & Cash Total 10.054 2.972 13.026 110 10,146 10,256 Creditors . amounts falling due within one year 2.000 2.000 Net Current Assets 11,026 8,256 Net Assets 11,026 8,256 Funds Unrestricted Funds Restricted Funds Total 11.026 8,256 11,026 8,256 The directors have taken advantage of the Companies Act 2006 in not having these accounts audited under Section 477111. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 The Directors acknowledge their responsibilities for ensuring that the company keeps accounting racords which comply with s386 and s387 of the Companies Act 2006 and for preparing accounts which give a true and fair view of the state of affairs of the company as at 30 June 2024 and of its profit for the year then ended in accordance with the requirements of s396 and which comply with the requirements of th8 Act relating to the accounts so far as applicable to the company. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the srnall companies regime. Signed and approved on the behalf of the Board on 10 Odober2024 John Lloyd Chair Page 8
Faith, Truth & Hope Notes to the accounts for the year ended 30 June 2024 1 . Accounting Policies Basis of preparation The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have beèn prepared in accordance with 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 United Kingdom and Republic of Ireland IFRS 1021 second edition published 2019 and the Charities Act 2011. The Financial statements are prepared on a going concern basis under the historic cost convention modified to include certain items at fair value when applicable. The financial statements are prepared in sterling which is the functional currency of the charity. Significant accounting policies applied in the preparation of these financial statements are set out below These policies have been consistently applied to all years presented unless otherwise stated. Funds Unrestricted funds Unrestricted funds are available for use at th8 discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise of unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are those funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. Th8 aim and use of each restricted fund is set out in the notes to the financial statements. Designated funds Restricted funds Donations or grants received for a specific object or invited by the charity for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The charity does not usually invest separataly for each fund. Page 9
Faith. Truth & Hope Notes to the accounts for th8 y8ar ended 30 June 2024 1 . Accounting Policies (cont.) Income Recognition Donations are recognised when received. Grants are accounted for when the charity is legally entitled to the amounts due. All other income is recognised when it is receivable. All incoming resources are accounted for gross. No changes have been made in accordance with these principles to accounts for the previous year. Expenditure Recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties. it is probable that the settlement will be required and the amount of the obligation can be measured reliably. VAT Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Volunteer Help The value of any voluntary help received is not included in the accounts but is described in the trustees report. Governance costs Include costs of the preparation and examination of statutory accounts, th8 Costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Debtors and creditors Debtors and Creditors with no stated interest rate and receivable or payable within one year ar8 recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Going Concern The directors consider that the charity remains viable for the year ahead. Page 10
Faith, Truth & Hope Notes to the accounts for the year ended 30 June 2024 2. Charitsble Activrties 2024 2023 Grants to CCFON Grants and gifts Governance costs (note 3) Support Costs I note 4) 949.720 29,565 2.000 208 981,493 649,500 45,335 2,000 638 697.473 3. Govemance Costs Statutory accounts preparation Independent examination and expenses 1.000 1,000 2.000 1.000 1,000 2.000 4 Support Costs Honorarium Sundry expenses 500 138 638 208 208 5. Bank and Cash Bank accounts 2.972 2.972 10.146 10,146 6. Creditors . amounts falling due in one year Accruals 2.000 2.000 2.000 2,000 7. Debtors Trade Debtors 10,054 10.054 110 110 Page11
Faith. Truth & Hope Notes to the accounts for the year ended 30 June 2024 8.Trustees Remuneration and Expenses 2024 2023 No trustee received remuneration or expenses in the current or previous year 9. Going Concem The financial statements have been prepared on the going concern basis on the directors, assumption that this charitable company will continue to meet its obligations as they fall due. This depends on sympathetic individuals and Christian groups continuing to donate gifts to fund the Faith.Truth & Hope charity's working capital requirements. These donations ar8 Vltal for the survival and on4Joing function of the company until income streams can be increased, or funds injected by strat8gic partners to fund the working capital. 10. Corporate Structure Faith, Truth & Hope is incorporated as a charitable company limited by guarantee. The members are each liable to contribute up to £1 in the event of the company being wound up. 11. Funds Movement Fund Balances 1 July 2023 Fund Outgoing Balances 30 Resources June 2024 Incoming Resources Restricted Funds Research Project 26.000 26,000 126.000) (26,000 Unrestricted Funds General fund 8,256 958,263 1955.493) 11,026 Totsi Funds 8.256 984,263 (981,493) Page 12
Faith. Truth & Hope Notes to the accounts for the year ended 30 June 2024 12. Prior year detsiled comparatives Ststement of Financial Activities (including Ime and Expenditurn Accounv for th8 year ended 30 June 2023 UNRESTRICTED Funds RESTRICTED Funds Total Funds Notes 2023 2023 2023 Incom8 Donations and grants Gift Aid tax refunds Other incom8 616,107 86.851 616.107 86.851 Totsl 702,960 702,960 Expenditure Charitable activities 697,473 697.473 Totsi 697.473 697,473 Net Income 5.487 5,487 Reconciliation of funds Funds brought forw8rd l July 2022 Totsi funds carried forward 30 June 2023 2, 769 8,256 2. 769 8,256 Page 13