Charity reg no 1127663
## **CALEB CHALLENGE TRUST**
**Accounts for the year ended 31 March 2023**
## **CALEB CHALLENGE TRUST**
## **Accounts for the year ended 31 March 2023**
## **BACKGROUND INFORMATION**
The Charity has been operating since 2009 following registration with the Charity Commission on 31st January 2009.
## **THE CHARITY EXISTS TO CARRY OUT THE FOLLOWING OBJECTS:**
1) To advance the Christian faith by making such grants, gifts or loans or appropriations to such organisations or individuals as appropriate in the United Kingdom and elsewhere in ways that the trustees in their absolute discretion deem to be fit and;
2) for the advancement of education both general and vocational within the principles of the Christian faith by such means as the trustees deem fitting for such purposes to advance Christianity in the United Kingdom and elsewhere;
3) to relieve poverty and assist those who are in need because of sickness or age or some other reason;
4) to engage in support or promote any other charitable activity within the principles of the Christian faith for the public benefit as the trustees think fit.
## **TRUSTEES REPORT FOR THE YEAR**
During the year, cash donations and interest was received.
The charity focussed it's support on the Ukraine crisis through the collection of donations and transport aid.
Signed on behalf of the Trustess Date….............................
….............................
## **CALEB CHALLENGE TRUST**
## **Independent Examiner's Report**
## **Report to the Trustees on the preparation of the examined statutory accounts of Caleb Challenge Trust**
## **Introduction**
We report to the trustees on my examination of the accounts of the above charity for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- i accounting records were not kept in accordance with section 130 of the Act or;
- i the accounts do not accord with the accounting records.
- I have no concerns and have come across no other matters in connection with the examination to which attention
should be drawn in order to enable a proper understanding of the accounts to be reached.
**Mr Andrew Singleton FCCA For and on behalf of Azets Holdings Limited**
37 Commercial Road Poole Dorset BH14 0HU
Date:
## **CALEB CHALLENGE TRUST**
## **Accounts for the year ended 31 March 2023**
|**Receipts**
**Notes**
Interest received
Donations - Restricted
**Expenses**
Bank charges
Miscellaneous
Gifts to charitable causes - Restricted
**2**
**Surplus/(Deficit) in the year**
**Opening bank balances**
**Closing bank balances**|40
44,858
44,898
73
-
54,436
54,509
**9,611**
**-**
46,988
**37,377**
**2023**|-
14,414
14,414
96
-
4,713
4,809
**9,605**
37,383
**46,988**
**2022**|
|---|---|---|
## **CALEB CHALLENGE TRUST**
## **Accounts for the year ended 31 March 2023**
|**Investments**
**Notes**
Property bond
**Bank balances**
CAF bank
**5**
**Debtors**
**Total Assets**
**General fund**
Balance brought forward
Excess income/(expenditure)
**Restricted fund**
Balance brought forward
Excess income/(expenditure)
**7**
**Total fund**
Balance brought forward
Excess income/(expenditure)|32,000
32,000
5,377
5,377
-
**37,377**
37,287
32
-
**37,255**
9,701
9,578
-
**123**
46,988
9,611
-
**37,377**
**2023**|32,000
32,000
14,988
14,988
-
**46,988**
37,383
96
-
**37,287**
-
9,701
**9,701**
37,383
9,605
**46,988**
**2022**|
|---|---|---|
## **Caleb Challenge Trust**
## **Notes forming part of the financial statements For the year ended 31 March 2023**
## **1) Accounting policies**
## **1.1) Basis of preparation**
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - Charity SORP.
The charity has adapted the Charities Act formats to reflect the special nature of the charity’s activities.
## **1.2) Charity status**
The charity is unincorporated.
## **1.3) Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **1.4) Incoming resources**
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
## **1.5) Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
## **Caleb Challenge Trust**
## **Notes forming part of the financial statements (continued) For the year ended 31 March 2023**
## **1) Accounting policies (continued)**
## **1.6) Cash at bank and in hand**
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.7) Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charities balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **Other financial assets**
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
## **Caleb Challenge Trust**
## **Notes forming part of the financial statements (continued) For the year ended 31 March 2023**
## **1) Accounting policies (continued)**
## **Impairment of financial assets**
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate.
The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
## **Derecognition of financial assets**
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
## **Classification of financial liabilities**
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
## **Basic financial liabilities**
Basic financial liabilities, including creditors, bank loans, loans from related parties and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
## **Caleb Challenge Trust**
## **Notes forming part of the financial statements (continued) For the year ended 31 March 2023**
## **1) Accounting policies (continued)**
If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## **2) Total resources expended**
|Raising funds
Charitable activities
Other
Total resources expended|**£**
**£**
**£**
-
-
-
-
54,436
54,436
-
73
73
-
54,509
54,509
**Other**
**staff costs**
**Other**
**direct costs**
**Total 2023**|**£**
4,713
96
4,809
**Total 2022**|
|---|---|---|
## **3) Related party transactions**
The Charity had no related party transactions and balances during the year.
## **4) Debtors**
|Trade debtors
Other debtors
Prepayments and other accrued income
**5) Analysis of cash and cash equivalents**
Cash at bank and in hand
Petty cash|**2023**
**£**
-
-
-
-
**2023**
**£**
5,377
-
5,377|**2022**
**£**
-
-
-
-
**2022**
**£**
14,988
-
14,988|
|---|---|---|
## **Caleb Challenge Trust**
## **Notes forming part of the financial statements (continued) For the year ended 31 March 2023**
## **6) Creditors: amounts falling due within one year**
|Trade creditors
Other taxes and social security
Other creditors
**7) Statement of funds**
Unrestricted funds
Restricted funds|**2022**
**£**
-
-
9,701
9,701|**2023**
**£**
-
-
-
-
**Income**
**Expenditure**
**£**
**£**
-
-
-
-
44,858
54,436
-
44,858
54,436
-|**2022**
**£**
-
-
-
-
**2023**
**£**
-
-
123
123|
|---|---|---|---|
The General reserves represents free funds of the charity which are not designated for particular purposes.
## **8) Employee numbers**
||**2023**||**2022**|
|---|---|---|---|
||**£**||**£**|
|Average number of employees||-|-|