Charity Registration No: 1141367
Company registration no: 7521600 (England and Wales)
BIBLES FOR EUROPE
(A company limited by guarantee)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
BIBLES FOR EUROPE
(A Company limited by guarantee)
LEGAL AND ADMINISITRATIVE INFORMATION
| Trustees | Mr. W E Lewallen |
|---|---|
| Mr. V L Grize | |
| Mr.J H Davis | |
| Charity number | 1141367 |
| Company number | 7521600 |
| Principal address | Bower House |
| Orange Tree Hill | |
| Romford | |
| Essex | |
| RM4 1PB | |
| Registered office | Bower House |
| Orange Tree Hill | |
| Romford | |
| Essex | |
| RM4 1PB | |
| Independent examiner | Ensors Accountants LLP |
| Connexions | |
| 159 Princes Street | |
| Ipswich | |
| Suffolk | |
| IP1 1QJ |
AMANA TRUST (A Company limited by guarantee)
CONTENTS
Page Trustees Report 1 - 2 Independent examiner’s report 3 Statement of financial activities 4 Balance Sheet 5 Statement of cash flows 6 Notes to the financial statements 7 - 11
BIBLES FOR EUROPE
(A Company limited by guarantee)
TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees, who are also Directors of Bibles for Europe (the Charity) for the purposes of the Companies Act, present the financial statements for the year end 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity’s Memorandum and Articles of Association dated 8 February 2011, the Companies Act 2006 and ‘’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
The Charity’s objectives are to advance the Christian faith and to educate people in relation to that faith. The charity is dedicated to giving away free copies of the New Testament Recovery Version Study Bible in the United Kingdom and Europe.
The Charity relies entirely on donations to fulfil our mission. That is how we can make our materials absolutely free to anyone who wants them.
The Charity relies on Christian volunteers’ support with their time, their money, and their prayers, so that millions of people can enjoy the free New Testament Recovery Version Study Bible we give away.
The Charity has paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
ACHIEVEMENTS AND PERFORMANCE FINANCIAL REVIEW
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months’ fixed cost expenditure. This level of reserves has been maintained throughout the year.
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is a charitable company limited by guarantee, not having share capital and governed by its Memorandum and Articles of Association dated 8 February 2011. It is registered as a charity with the Charity Commission.
The Trustees, who are also also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr W E Lewallen
Mr V L Grize Mr J H Davis
None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trustees are elected under the terms of the Articles of Association. The first Trustees shall be those persons appointed as directors of the company on its incorporation. Thereafter the Trustees shall be appointed in accordance with the provisions of the Articles.
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BIBLES FOR EUROPE
(A Company limited by guarantee)
TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Mr J H Davis, a Trustee of the Charity is also a Trustee of Amana Trust, a charity registered in England and Wales and with the Charity Commission. All transactions with Amana Trust have been disclosed in the notes to the financial statements.
Mr J H Davis, a Trustee of the Charity is also a Trustee of Living Stream Ministry, a non-profit making organisation incorporated in California, USA. All transactions with Living Stream Ministry have been disclosed in the notes to the financial statements.
Mr J H Davis, a Trustee of the Charity is also a director of Elim Springs, a non-profit making organisation incorporated in Germany. All transactions with Elim Springs have been disclosed in the notes to the financial statements.
Mr W E Lewallen and Mr J H Davis, the Trustees of the Charity are also Trustees of Editions CDV, a non-profit association according to the law of 1901, registered in Lille, France. All transactions with Editions CDV have been disclosed in the notes to the financial statements.
Mr V L Grize, a Trustee of the Charity is also a Trustee of Elim Bücher Lounge, a non-profit association according to the Swiss Civil Code ZGB. All transactions with Elim Bücher Lounge have been disclosed in the notes to the financial statements.
The Trustees’ report was approved by the Board of Trustees.
………………………….
Mr. W E Lewallen
19 September 2023
2
BIBLES FOR EUROPE
(A Company limited by guarantee)
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BIBLES FOR EUROPE
I report to the Trustees on my examination of the financial statements of Bibles for Europe (the Charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Charity 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 the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:
-
accounting records were not kept in respect of the as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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 financial statements 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 financial statements to be reached.
Barry Gostling, FCCA
Ensors Accountants LLP
Connexions 159 Princes Street Ipswich IP1 1QJ
Dated: 21 September 2023
3
(A Company limited by guarantee)
BIBLES FOR EUROPE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income from: Donations and legacies 2 Expenditure on: Charitable activities 3 Net expenditure for the year/ Net movement in funds Fund balances at 1 January 2022 Fund balances at 31 December 2022 |
Restricted funds Unrestricted funds Total funds Restricted funds Unrestricted funds_x _Total funds 2022 2022 2022 2021 2021 x 2021 £ £ £ £ £ x £ x x 2,598 201,833 204,431 2,348 547,837x 550,185 x x 530 223,997 224,528 1,851 556,755x 558,606 x 2,068 (22,164) (20,096) 497 (8,919) (8,422) x x 497 26,978 27,475 – 35,897 35,897 |
|---|---|
| 2,565 4,814 7,379 497 26,978 27,475 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Restricted funds refer to donations received for distributing free Bibles in Iceland.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
4
BIBLES FOR EUROPE
(A Company limited by guarantee)
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Note | Restricted fundsx 2022 x £ x x –x 2,565x 2,565x –x x 2,565x x X X 2,565x –x x 2,565x |
Unrestricted fundsx 2022 x £ x x 878x 13,452x 14,330x (9,516) x x 4,814x x x x –x 4,814x x 4,813x |
Total funds x 2022 x £ x x 878x 16,017x 16,895x (9,516) x x 7,379x x x x 2,565x 4,814x x 7,379x |
Restricted funds_x _2021 x £ x x –_x _497_x _497_x –x x _497_x x x x _497_x –_x x _497_x |
Unrestricted funds_x _2021 x £ x x 564_x _33,535_x _34,099_x (7,121) x x _26,978_x x x x –_x _26,978_x x _26,978_x |
Total funds |
|---|---|---|---|---|---|---|
| 2021 | ||||||
| £ | ||||||
| Current assets | ||||||
| Debtors 7 Cash and cash equivalents Creditors: amounts falling due within one year 8 |
564 | |||||
| 34,031 | ||||||
| 34,596 | ||||||
| (7,121) | ||||||
| Net current assets | 27,475 | |||||
| CHARITY FUNDS Restricted funds Unrestricted funds |
||||||
| 497 | ||||||
| 26,978 | ||||||
| TOTAL FUNDS | 27,475 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
19 September 2023
The financial statements were approved by the trustees on…………………….
…………………………. Mr. W E Lewallen Trustee
Company Registration No. 7521600
5
BIBLES FOR EUROPE
(A Company limited by guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022
| x | 2022 x |
2021 |
|---|---|---|
| £ x |
£ | |
| Notes | x | |
| Cash flows from operating activities | ||
| Cash absorbed by operations 11 |
(18,014) x |
(4,649) |
| Net cash used in investing activities | – | – |
| Net cash used in financing activities | – x 34,031 |
– |
| 38,681 | ||
| Cash and cash equivalents at the beginning of the year | ||
| Cash and cash equivalents at the end of the year x |
16,017 x |
34,031 |
6
(A Company limited by guarantee)
BIBLES FOR EUROPE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting policies
Charity information
Bibles For Europe is a private company limited by guarantee incorporated in England and Wales. The registered office is Bower House, Orange Tree Hill, Romford, Essex, RM4 1PB.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity’s Memorandum and Articles of Association dated 8 February 2011, the Companies Act 2006 and “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).
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2 Going concern
At the time of approving the financial statements the Trustees have reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future, as set out in the Trustees report. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income and resources
All income is recognised when the Charity has entitlement to the income.
Donations and gifts are recognised in full in the statement of financial activities as soon as they are received.
Donations of Bibles and booklets are recognised in the statement of financial activities as soon as they are received.
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers - 25% on cost
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand and at bank.
7
(A Company limited by guarantee)
BIBLES FOR EUROPE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting policies (Continued)
1.8 Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date, Gains and losses arising on translation are included in net income/ expenditure for the period.
2. Donations and legacies
x x x Donations and gifts x Donations of Bibles Servant support fund x |
Restricted funds x 2022 x £ x – – – 2,598 x |
Unrestricted funds x 2022 x £ x 201,833 x – – x – x |
Total funds 2022 £ 201,833 – – 2,598 204,431 |
Restricted funds 2021 £ – – 848 1,500 2,348 |
Unrestricted funds Total funds 2021 2021 £ £ 254,795 254,795 293,042 293,042 – 848 – 1,500 |
|
|---|---|---|---|---|---|---|
| Iceland x |
||||||
| Total x |
2,598 x |
201,833 x |
547,837 550,185 |
During the year, the charity received no copies of New Testament Bibles in English, French, Spanish, Polish and Portuguese (2021 – 250,000 copies).
3. Charitable activities
Charitable activities Staff costs Direct costs of Bibles, postage and delivery Office rent, services and expenses Storage and distribution costs Professional fees Motor and travel Website design, maintenance and IT work Marketing and advertising Other charitable expenditure Total |
2022 2021 £ £ – 24,860 13,097 336,532 5,372 7,951 153,896 127,335 4,038 2,682 – 359 3,319 4,700 44,805 46,089 – 8,100 |
|---|---|
| 224,528 558,606 |
Expenditure on charitable activities was £224,528 (2021: £558,606) of which £530 was restricted and £223,997 was unrestricted (2021: £1,851- restricted, £556,755 unrestricted).
4. Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8
BIBLES FOR EUROPE
(A Company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
5. Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| 0 |
1 | |
| _________ | ||
| Employment costs | 2022 | 2021 |
| £ | £ | |
| Wages and salaries | 0 | 24,860 |
6. Fees for independent examination Included in Legal and Professional fees is £3,234 (2021- £2,934) For Independent examiner fees paid to the independent Examiner for accountancy services.
7. Debtors
Amounts falling due within one year
| 2022 x |
2021 | |
|---|---|---|
| £ x |
£ | |
| Trade debtors | – | – |
| Other debtors | – | – |
| Prepayments and accrued income | 878 | 564 |
| Total | 878 | 564 |
| Debtors are composed of only unrestricted funds 8. Creditors Amounts falling due within one year |
||
| 2022 x |
2021 | |
| £ x |
£ | |
| Other taxation and social security | – | – |
| Trade creditors | 5,363 | 3,329 |
| Accruals and deferred income | 4,153 | 3,792 |
| Total | 9,516 | 7,121 |
Creditors are composed of only unrestricted funds
9
BIBLES FOR EUROPE
(A Company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
9. Related party transactions
Mr. J H Davis, a trustee of the charity is also a trustee of Amana Trust, a charity registered in England and Wales and with the Charity Commission. During the year, the charity paid Amana Trust £49 (2021 - £0) for postage and stationery. Amana Trust also made donations of £840 (2021 - £6,412) during the year.
Mr. J H Davis is also a trustee of Living Stream Ministry, a non-profit making organization incorporated in California, USA. During the year, Living Stream Ministry made donations of £55,500 (2021 - £343,042), including gifts in kind of £0 (2021 - £293,042) in copies of Bibles for the free distribution of Bibles in Europe. During 2022, £0 (2021 - £0) was paid to Living Stream Ministry for Bible purchases.
Mr. W Lewallen and Mr. J H Davis, the trustees of the charity are also trustees of Editions CDV, a Non-profit Association according to the law of 1901, registered in Lille, France. During the year, the charity paid Editions CDV £104,023 (2021 - £72,393) for rent, maintenance and security of the warehouse and distribution costs of Bibles in France.
Mr. V L Grize is also a trustee of Elim Bucher Lounge – Switzerland, a non-profit making organization. During the year, Amana Trust made payments of £0 (2021 - £17,312) for distribution expenses.
Mr. J H Davis is also a trustee of Elim Springs e.V. – Germany, a non-profit making organization. During the year, Amana Trust made payments of £0 (2021 - £4,968) for distribution expenses.
10. Movement in funds
| At 1 January 2022 |
Incoming resources x |
Outgoing resources |
Outgoing resources |
Transfers | Transfers | At 31 December 2022 |
||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted funds | ||||||||||
| General fund | ||||||||||
| 26,978 | 201,833 | (223,997) | - | 4,814 | ||||||
| x | x |
|||||||||
| Restricted funds | ||||||||||
| Iceland | 497 | 2,598 | (530) | - | 2,565 | |||||
| 2,598 | (530) | – | 2,565 | |||||||
| Total funds | 27,475 x At 1 January 2021 |
204,431 x Incoming resources x |
(224,527) Outgoing resources |
- Transfers |
7,379 | |||||
| At 31 December 2021 |
||||||||||
| Unrestricted funds | ||||||||||
| General fund | 35,897 | 547,837 | (556,756) | - | 26,978 | |||||
| x - |
x 848 |
(848) | - | |||||||
| Restricted funds | ||||||||||
| Servant support fund | - | |||||||||
| Iceland | - | 1,500 | (1,003) | - | 497 | |||||
| 2,348 | (1,851) | – | 497 | |||||||
| Total funds | 35,897 x |
550,185 x |
(558,607) | - | 27,475 |
Restricted funds refer to donations received for distributing free Bibles in Iceland.
10
(A Company limited by guarantee)
BIBLES FOR EUROPE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
| 11. Cash absorbed by operations |
2021 £ (8,422) 253 3,520 (4,649) |
|
|---|---|---|
| 2022 x |
||
| £ x |
||
| Deficit for the year | (20,097) (312) 2,395 (18,014) |
|
| Movements in working capital | ||
| Increase in debtors | ||
| Increase in creditors | ||
| Cash absorbed by operations |
12. Analysis of changes in net funds
The charity had no debt during the year.
11