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2024-08-31-accounts

THE NGM TRUST

FINANCIAL STATEMENTS

31 AUGUST 2024

Charity Number 1143696 Company Number 07721640

THE NGM TRUST

FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024

CONTENTS Pages
Trustees’ annual report 1 – 7
Reference and administrative 8
information
Independent Examiner's report to the Trustees 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the financial statements 12 – 20

THE NGM TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 AUGUST 2024

The Trustees have pleasure in presenting their report and the financial statements of the charity for the year to 31 August 2024.

The Trustees have had due regard, as required by the Charities Act 2011 to the Charity Commission's general guidance on public benefit when reviewing its aims and objectives and in planning its activities.

Objects of the charity

The Charity’s objects (the “Objects” ) are to advance religion by the promotion of the Christian faith through the provision of support, education, facilities, services and any other assistance as the Charity thinks fit to any other charity, class of person or specific person in England and anywhere else in the World.

Structure, Governance and Management

The NGM Trust is constituted as a registered charity and was incorporated with its memorandum and articles on 28th July 2011.

Organisation

The charity is governed by a board of Trustees, (who are also directors for the purpose of company law) which is responsible for setting the strategic direction of the charity and for establishing policy. The board of Trustees meets regularly and delegates the day to day operation of the charity to a group of experienced leaders led by Nancy Goudie. When Trustees are appointed, they are given a full overview of the charity’s work and have the opportunity to ask questions, so they can understand the full scope of the charity and what the expectations are of them as a Trustee. Ongoing training for the Trustees is something that is recognised as important; there was an extensive training session for the Trustees in Autumn 2018, and further training was completed in June 2022.

Review of the activities

Our vision is to see lives transformed by the message we carry throughout the UK and beyond and we certainly have seen that happen again this year. Through the activities of the charity, we have seen many lives changed through the love of God and it is our privilege to be able to share some of the stories with you in this report.

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THE NGM TRUST

TRUSTEES’ REPORT YEAR ENDED 31 AUGUST 2024

Our main areas of operation are as follows:

Conferences and events

In February 2024 we held Nancy Goudie’s Spiritual Health Weekend. We had just over 450 delegates in our new venue De Vere Cotswold Water Park. This weekend saw many ladies lives transformed through the love and power of God.

This is from a lady who came to the Spiritual Health Weekend earlier this year. When she came to the weekend, her marriage had hit the rocks, her younger daughter had been raped and her older daughter was in an abusive relationship. She has kept in touch with Nancy and this just highlights the importance of what we do:

“I wrote to you a few months ago and I felt the need to update you. Myself and my husband are doing well, we went to counselling and also through my church have done a marriage course. My husband is in the process of changing jobs - this will benefit us as a family as he will be home more. My younger daughter is doing so well and is halfway through her trauma therapy, she is becoming more like her old self again. Although she still has bad days she can manage them better now. My eldest daughter has still left her abuser and is starting to rebuild her life, she's past her driving test and even bought a car. She lives independently in supported living and is doing brilliantly. As a mum I'm so proud of them both.

When I first wrote to you it was because God clearly spoke to me and told me to tell my story, I've prayed into this lots and I had a vision come to me, and I am now starting up a woman’s ministry within my church and has started planning our first ever event. I am so excited and passionate about this. It's very much about encouragement, empowering and growing in faith. And it's also to make awareness that even in your darkest of times, there is hope. Where there is God, there is hope, and where there is hope, there is joy. I'd like to thank you Nancy for being my inspiration if it wasn't for coming to the Spiritual Health Weekend I wouldn't of found my way back to the Lord.”

Another lady said this after attending the conference: “The weekend was such a blessing. I need an annual top-up of Nancy’s affirming message and testimony. The weekend is like a reset which starts my year. I leave each time with renewed thirst/hunger for God and Nancy’s words and talks are a source of hope, encouragement and trust throughout the year.” C.L.

At the Spiritual Health Weekend we were able to once again provide bursary places for those in need. This year we were able to provide 138 full or part-funded places for ladies. We partnered with various Christians Against Poverty groups, groups who work with ladies on the street and mental health charities as we’ll as providing direct bursray places to people who applied. Again we saw lives transformed through these places. Here are just a couple of short quotes from bursary delegates to illustrate this:

“I felt the most wonderful feeling inside listening to Nancy; I changed my views on life and I realised God loves me so so much. My faith will grow with the support of such a wonderful weekend away.” Bursary Delegate

“Being at Nancy Goudie’s spiritual weekend has changed the way I react to any bad situation, now God has brought me more peace. I’m confident and more comfortable, I’m believing more in myself and in my life. I also learned how to forgive myself and to get closer to God.” Bursary Delegate

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THE NGM TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 AUGUST 2024

This year once again it has been brilliant to be back out on the road. We have held Spiritual Health Days in Manchester and Newcastle. We have had other speaking engagements in Stoke-on-Trent and Bath. These events have once again impacted many people’s lives. Thanks to the generosity of one funder, we have been able to give away bursary places to ladies to attend the events. One lady wrote to us after attending the Spiritual Health Day in Newcastle saying, “After attending the day, I now feel there is hope.”

At the Newcastle day we had the privilege of praying for many ladies. The highlight was a teenage girl who attended on the Saturday and became a Christian. The next morning, she brought her mum to church and after the service she gave her life to God too. Nancy had the privilege of leading both mum and daughter to Jesus. Unknown to us, 2 lads who had been asked to be Godparents by someone walked into the back of the church and stayed, listened to the preach and then asked the pastor questions. A few weeks later we received this amazing note from the Pastor’s Wife, “Just wanted to share some great news. J and M who heard and responded to your preach on the Sunday morning were baptised today. Glen handed out 4 of the books on Hope - to them and their families. We are praying for them. Jack in particular was very moved by what you said. Thank you so much. Also Kim who you prayed with about the death of her sister is attending church with us. Praise God”

Online events and resources

This year Nancy continued with her online teaching series on faith. She held one series of Tea and Cake with Nancy in Autumn 2023 and one in Spring 2024. Over 100 people signed up for each series and it was great to have the opportunity not only to teach them but to pray for them as well. One lady emailed us after the teaching: “At the last tea and cake session I asked you to pray for me as I had virus up till then I was on a very high dosage of Ventolin during the night but after your prayers it calmed down and I haven’t needed the high dose, thank you God.”

Zoe wrote and released two free online Bible studies in this last year on the book of Ephesians. We had around 100 sign up for each of these studies and as you can see from the quotes below, these have been very well received:

“Thanks so much for the study on Ephesians. It is one of my favourite books in the Bible. On each day of the study, I have gained a deeper understanding of the passages through the power of the Spirit. It has been an incredible experience and I feel I have had a seven-day makeover, and I am refreshed, renewed and refilled.”

Nancy has also been interviewed on many radio stations throughout the year. Nancy and Zoe have also both recorded programmes with God TV and also with UCB radio, both of which have been really well received.

Music and resources

The books and music we have released over the years still continue to have an impact on people. We love hearing stories of all God is doing through these. In January 2024 we launched Nancy’s new book You Are Loved. This has received fantastic reviews and been so well received by so many people. Here are a couple of messages we received regarding this book:

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THE NGM TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 AUGUST 2024

“Hello Nancy I was so delighted to read your Facebook post this morning. Such beautiful words and so appropriate for me at the moment. While I’m having my radiotherapy treatment, I ask God to fill the room with His angels and pray for the radiologists and everyone waiting. Best bodyguard ever! I’ve been taking your book with me this week “You Are Loved”. I’m sent into a changing room just before treatment and as I sit alone, I’ve read a different piece every day. My favourite is your paraphrase of Psalm 23. Thursday was a longer wait and I read “Do you know you are loved”. This book has been a wonderful comfort and encouragement to me…and it’s been an essential companion during my treatment. Thank you so much. 10 days done and 5 to go.”

“Such a powerful book! The world should have it next to their bed too. Thank you just isn’t enough to say to you for writing it.”

We have mainly focused on the Spiritual Health Weekend bursary this year rather than the book bursary. Having said that we have had the funds to give books for free to the bursary ladies who attend both the Spiritual Health Days and the Spiritual Health Weekends. In August 2024 we are just starting to raise funds for the scheme again so we can send 400 books into prisons, give away books at our wellbeing events and other exciting things.

We have also given 40 You Are Loved books to Frenchay Brain Injury Unit where Nancy recovered from her brain injury. The nurses were overjoyed to receive the book and took them around the whole hospital to give them out to the nurses and staff there. One nurse from Southmead Hospital told Nancy that it was just what she needed to receive when she came back to work after an illness. We have also asked the Southmead Hospital Chaplain and the Bristol Royal Infirmary Chaplain if Nancy’s books would be helpful to them, and they asked for books to give to patients. They now have these books. We are also giving books to a local funeral pastor who seems many families each year in difficult circumstances. We are also letting them all know about our Community Prayer Room.

Music wise a team of NGM musicans (present and past) led worship at the Spiritual Health Weekends. Many ladies commented how the worship impacted their lives and helped them go deeper into the presence of Jesus. The Unbreakable Love ep we released two years ago is still having a big impact on people with the song Heal Our Nation in particular becoming a prayer for many at these turbulent times.

Other direct activities:

Our Prayerline still continues, where those in need can send their prayer requests and our team has the privilege of praying for every person who has submitted a prayer request. So many people have reached out for prayer in some of the darkest times of their life. It is so good to be able to offer this support to people. One of the ladies we have been praying for in Scotland has had terrible health problems including cancer. This was one answer to prayer we received from her husband: “From Alan from Scotland. Lynn received the results of her CT scan this morning from Dr. Ding, the Oncologist, advising that these were satisfactory with no indication of a hernia. PTL. She will have bloods taken at the end of July for her review with Oncologist on 23 August. Further, she has annual check-up and mammogram at breast clinic on 7 August. Thank you for your continuing Prayers. As we mentioned above, we are launching a community prayer room this Autumn. We want this to be a place people can come if they need a place of peace, comfort, to talk with someone, or some prayer outside of any of the settings we are working in.

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THE NGM TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 AUGUST 2024

In December we ran our first NGM Nativity. It was well received by all 90 who attended from the local area -95% of attendees were unchurched. It gave us time to build more relationships with those in the local community and has led to parents sharing their struggles in life during January and February and us being able to give them some of Zoe’s books to help them. One lady who is not a Christian said, “The words were moving and so meaningful! So emotional!”

Personnel

Our personnel have continued to work hard during this year and have continued to give all their efforts into seeing the work grow. We have been able to pull in volunteers to help work with us on our bigger events such as Nancy Goudie’s Spiritual Health Weekend.

Premises

The work on Caedmon Complex has almost been completed in this financial year. We have had a Fire Risk Assesment and that bought up a couple of issues with the air conditioning and air filter systems which were not budgeted for but needed to be addressed. The cost of energy bills has been a major factor in our budgeting and we are looking at ways to expand the use of the complex by others to help with these costs and annual maintenance.

We continue to rent out the premises to The Inspire Arts Trust and it has been good to see another increase in rental income from them this year. We have been exploring renting the premises to other organisations when the rooms are not in use. Due to staff illness this didn’t start as early as we had hoped but we have started this from September 2024.

Governance

Hazel McGreavy, one of our longstanding trustees since the start of The NGM Trust, decided to step down this year in July. We are very grateful to Hazel for all she has given over the years. The process of recruiting a new Trustee to replace Hazel has started and it is hoped this will be completed in the 24/25 financial year.

Future

We are looking ahead to another exciting year in 24/25 with two UK retreats, Spiritual Health Days and the release of another new book from Nancy.

We could not do all we have done throughout this year without the incredible help we have from our workers, funders, volunteers, management team and Trustees all of whom work so very hard to see the vision of seeing lives transformed continue to become reality. We are looking forward to many more fruitful years ahead as we continue to adapt to future challenges.

Financial Review Reserves policy

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (“the free reserves”) held by the charity should be between 3 and 6 months of the expenditure, which equates to between approximately £120,945 to £241,891 in general funds. At this level, the board of Trustees feels that it would be able to continue the current activities of the charity in the event of a significant drop in funding. It would obviously be necessary to consider how the funding would be replaced or activities changed accordingly. At the balance sheet date the free reserves were £25,333. These reserves have

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THE NGM TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 AUGUST 2024

reduced during the year mainly due to the extra expenditure on Caedmon. There is an investment to the value of £587,722 which can be accessed should this be required, therefore the Trustees are satisfied adequate reserves are available going forward.

Investment powers and policy

The Trustees can invest in any stocks, funds, shares, securities or other investments of whatsoever nature as the Trustees shall, in their absolute discretion, think fit. Funds surplus to immediate requirements are invested with Evelyn Partners (formerly known as Dart Capital) into various investments that have a medium risk profile. Given these are likely to be held as investments for between 3 - 5 years then the trustees consider this the best way to invest. Funds that are required over the next one year period are held on short term deposit.

Risk review

The risk review was completed by the Trustees. The major risks that the Trustees identified and the controls that are in place are as follows:

Risk: Loss of Key Management Staff. Controls: Succession/Task Coverage Planning. Long Term Strategy (10 years) needs to be reviewed. Insurance in place for the CEO if she was unable to run the conferences due to health. Health check-up and insurance is in place for the CEO and insurance for the General Manager. Action: The Directors are in ongoing discussions with the CEO regarding succession planning.

Risk – Insufficient income. Controls: Policy of maintaining reserves. Monthly review of finances by CEO. Bi-annual review of finances by Directors. Fundraising Appeals set as and when needed.Action: Obtaining a wider regular funding base to help cover increased costs and also cover reduced income due to people’s circumstances changing. Identifying trusts to approach to support projects and key staff.

The Trustees have continued to consider the risks this year, many have been reviewed in meetings throughout the year. The risk review will continue to be updated annually, unless an event occurs where it needs to be reviewed more frequently. Since the last risk review, the Trustees are committed to looking at the long term succession plan for the charity. This will happen over the next financial year.

Fundraising

As a charity, NGM fundraises in various ways. The majority of our fundraising is from individuals, whether at our conferences and events or through our mailing. We take steps to ensure under 18’s are never included in our fundraising mailings, we also ensure that at our conferences and events, there is never any pressure for any individuals to give. Every offering, or chance to support us, is given without any pressure and we always stress for people only to give if they feel able. We also raise finance for NGM through approaching Trusts, especially for the bursary funds and our prison work. Any fundraising done in NGM is through our Key Management personnel; we do not have a professional fundraiser or employ anyone else to fundraise on our behalf. For those who sign up to give regularly they are free to stop at any time.

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THE NGM TRUST

TRUSTEES’ REPORT

YEAR ENDED 31 AUGUST 2024

Statement of Trustees’ responsibilities

The Trustees (who are also directors of NGM Trust for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report and the financial statements have been prepared in accordance with the Companies Act 2006, the charitable Company’s Memorandum and Articles of Association and the Statement of Recommended Practice “Accounting and Reporting by Charities”.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.

Registered office: Signed by order of the Trustees Caedmon Complex Bristol Road Thornbury ................................................... BS35 3JA Mr R Collier – Keywood Chairman

16 May 2025 Approved by the Trustees on ……………………

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THE NGM TRUST

REFERENCE AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31 AUGUST 2024

Charity number

1143696

Company Number

07721640

Trustees

The following served as Trustees and directors during the year and since the year end:

Mrs H McGreavy (retired on 16[th] July 2024) Mr R Collier-Keywood Mr W McGinn Mrs J Banful Dr Jacqueline Harding (appointed 10[th] March 2025)

Registered Office

Caedmon Complex, Bristol Road, Thornbury, BS35 3JA

Independent examiner

Joshua Kingston BSc. ACA, Burton Sweet Limited Chartered Accountants, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol, BS48 1UR

Bankers

Bank of Scotland, Old Broad Street, London.

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THE NGM TRUST

INDEPENDENT EXAMINER’S REPORT TO TRUSTEES

YEAR ENDED 31 AUGUST 2024

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 August 2024.

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

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Joshua Kingston BSc. ACA, Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: 16 May 2025

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THE NGM TRUST

STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account) YEAR ENDED 31 AUGUST 2024

Note
Income from:
Donations and grants
2
Investments
Charitable activities
3
Other income
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net Gains/(losses) on investments
9
Net income/(expenditure) for the year
5
Gains/ (losses) on revaluation of fixed assets
8
Net movement in funds
13
Total funds brought forward
13
Total funds carried forward
13		 Total
Total
Unrestricted
Restricted
Funds
Funds
Funds
Funds
2024
2023
£
£
£
£
182,439
42,635
225,074
226,813
12,633
-
12,633
14,091
137,131
1,952
139,083
42,112
1,302
-
1,302
1,641
333,505
44,587
378,092
284,657
483,169
34,190
517,359
400,620
483,169
34,190
517,359
400,620
61,817
-
61,817
6,742
(87,847)
10,397
(77,450)
(109,221)
-
-
-
(1,190,000)
(87,847)
10,397
(77,450)
(1,299,221)
1,375,159
15,516
1,390,675
2,689,896
1,287,312
25,913
1,313,225
1,390,675

The Charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the Charity are classes as continuing.

The comparative funds are detailed in note 16.

The notes on pages 12 to 20 form part of these financial statements

10

THE NGM TRUST

BALANCE SHEET
BALANCE SHEET
Charity number
1143696
AS AT 31 AUGUST 2024
Company number
07721640
Note
Fixed assets
Tangible assets
8
Investments
9
Current assets
Stock
10
Debtors
11
Cash at bank
Creditors : Amounts falling due
within one year
12
Net current assets
Net assets
Funds
Restricted funds
14
Unrestricted funds
General funds
14
14
Designated funds (including revalution reserve of £105,557 (2022:
£1,295,557)		 2024
2023
£
£
674,257
694,454
587,722
518,034
1,261,979
1,212,488
15,392
16,842
33,938
31,721
41,400
191,778
90,730
240,341
(39,484)
(62,154)
51,246
178,187
1,313,225
1,390,675
25,913
15,516
613,055
680,705
674,257
694,454
1,313,225
1,390,675

For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not 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 complying with the requirements of the Act with respect to accounting records and the preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

16 May 2025

These financial statements were approved by the Trustees on ………...……and are signed on their behalf by:

………………………………..

Mr R Collier – Keywood

The notes on pages 12 to 20 form part of these financial statements

11

THE NGM TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

1 Accounting policies

The trustees consider the charity to be a going concern and a public benefit entity.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the entity and include the audit fees and costs linked to the strategic management of the entity. They are included within support costs.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

Rentals applicable to operating lease agreements where substantially all of the benefits and risks of ownership remain with the lessor are charged against net income on a straight line basis over the period of the lease.

Buildings - 0% straight line Office equipment - 33.3% straight line Fixtures and fittings - 25% straight line

Technical equipment - 20% straight line

The Trustees of the charity carry out an annual impairment review of the properties. Buildings are subject to a policy of revaluation every 5 years.

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THE NGM TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024

1 Accounting policies (continued)

2
Donations and grants
Grants, donations and regular pledges
Covenants and gift aided donations
Gift aid receivable
Prior year comparatives
Grants, donations and regular pledges
Covenants and gift aided donations
Gift aid receivable		 Unrestricted
Restricted
Total Funds
Funds
Funds
2024
£
£
£
140,988
15,148
156,136
32,608
21,808
54,416
8,843
5,679
14,522
182,439
42,635
225,074
Unrestricted
Restricted
Total Funds
Funds
Funds
2023
£
£
£
134,783
16,226
151,009
47,871
12,680
60,551
12,071
3,182
15,253
194,725
32,088
226,813

Donations of £2,710 (2023: £5,678) were received from Trustees and other related parties during the year.

3 Income from charitable activities

Income from charitable activities
General
Music and resources
Conferences and events
Prior year comparatives
General
Music and resources
Conferences and events		 Unrestricted
Restricted
Total Funds
Funds
Funds
2024
£
£
£
12,978
-
12,978
2,372
-
2,372
121,781
1,952
123,733
137,131
1,952
139,083
Unrestricted
Restricted
Total Funds
Funds
Funds
2023
£
£
£
11,901
-
11,901
2,473
-
2,473
27,738
-
27,738
42,112
-
42,112

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THE NGM TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

4
Expenditure on Charitable activities
Music and resources
Online events and resources
Conferences and events
Other direct activities
Prior year comparatives
Music and resources
Online events and resources
Conferences and events
Other direct activities
Support costs
Music and resources
Online events and resources
Conferences and events
Other direct activities		 Direct
Project
Support
Total
costs
costs
2024
£
£
£
18,222
21,770
39,992
29,370
21,770
51,140
268,444
79,825
348,269
21,022
56,936
77,958
337,058
180,301
517,359
Direct
Project
Support
Total
costs
costs
2023
£
£
£
25,725
23,395
49,120
38,153
46,788
84,941
88,608
62,385
150,993
16,936
98,630
115,566
169,422
231,198
400,620
Premises
Admin
Total
Costs
Costs
Governance
2024
£
£
£
£
13,238
8,199
333
21,770
13,238
8,199
333
21,770
48,541
30,064
1,220
79,825
48,404
8,199
333
56,936		 Direct
Project
Support
Total
costs
costs
2024
£
£
£
18,222
21,770
39,992
29,370
21,770
51,140
268,444
79,825
348,269
21,022
56,936
77,958
337,058
180,301
517,359
Direct
Project
Support
Total
costs
costs
2023
£
£
£
25,725
23,395
49,120
38,153
46,788
84,941
88,608
62,385
150,993
16,936
98,630
115,566
169,422
231,198
400,620
123,421
54,661
2,220
180,301

Support costs are allocated on the basis of estimated usage.

Please note the Conference & Events department includes not only the Spiritual Health Weekend but all Retreats, Spiritual Health Days and any speaking engagements Nancy or Zoe have had during the year. This also includes the portion of the support costs to prepare for these.

As referred to in the Directors report, the increase in premises costs has been spent on Caedmon Complex to bring it up to standard. There have also been some costs capitalised in relation to this work. There are now just a couple of jobs remaining which will be complete in the next financial year. The extra expenditure is within the other direct activities category and 2023 figures have been restated accordingly.

Prior year comparatives
Music and resources
Online events and resources
Conferences and events
Other direct activities		 Premises
Admin
Total
Costs
Costs
Governance
2023
£
£
£
£
13,713
9,294
388
23,395
27,425
18,588
775
46,788
36,567
24,784
1,034
62,385
88,948
9,294
388
98,630
166,653
61,960
2,584
231,198

14

THE NGM TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

4 Expenditure on Charitable activities (continued)

Governance costs
Independent examiner's fee
- Independent examination
- Other services
Statutory fees
5
Net income/(expenditure) for the year
This is stated after charging:
Depreciation
Independent examination fees
Trustees' remuneration
Reimbursement of Trustees' expenses
6
Staff Costs and Numbers
The aggregate payroll costs were:
Wages and salaries
Social security costs
Pension costs		 2024
2023
£
£
1,850
1,850
336
721
34
13
2,220
2,584
2024
2023
£
£
29,284
17,538
1,850
1,850
-
-
-
-
2024
2023
£
£
152,814
105,771
11,359
8,812
3,924
2,376
168,097
116,959

No employee received emoluments of more than £60,000 during the current year.

The average number of employees (headcount) during the year were 8 (2023: 5)

Total other benefits received by employees during the year were £3,002 (2023: £2,687)

7 Taxation

No provision is made for Corporation Tax, as the Charity is able to claim full statutory exemption subject to the proper application of all its charitable resources.

15

THE NGM TRUST NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

8 Tangible fixed assets

Cost
At 1 September 2023
Additions
At 31 August 2024
Depreciation
At 1 September 2023
Charge for the period
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023		 Buildings
(Caedmon
Office
Technical
complex)
Equipment
Fittings
Equipment
Total
£
£
£
£
£
610,000
19,356
118,920
47,865
796,141
-
1,674
2,064
5,349
9,087
610,000
21,030
120,984
53,214
805,228
-
16,856
42,925
41,906
101,687
-
2,128
24,030
3,126
29,284
-
18,984
66,955
45,032
130,971
610,000
2,046
54,029
8,182
674,257
610,000
2,500
75,995
5,959
694,454

Caedmon Complex has had Red Book Valuation by an external surveyor in February 2024. The historical cost of the building was £504,443.

9 Investments

Investments
Listed investments
At 1 September 2023
Acquisitions at cost
Proceeds on disposal
Net gain on revaluation
At 31 August 2024
Cash and cash equivalents
Stock
Stock		 2024
2023
£
£
516,780
499,668
207,450
234,672
(203,647)
(224,302)
61,817
6,742
582,400
516,780
5,322
1,254
587,722
518,034
2024
2023
£
£
15,392
16,842

10 Stock

16

THE NGM TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

11 Debtors

Income tax debtor
Inspire Arts Trust
Prepayments
Other debtors		 2024
2023
£
£
1,956
2,601
1,639
9
25,886
19,696
4,457
9,415
33,938
31,721

12 Creditors: amounts falling due within one year

Trade creditors
Other creditors
Taxation and social security
Accruals and deferred income		 2024
2023
£
£
15,731
709
3,380
3,399
1,405
1,129
18,968
56,917
39,484
62,154

Accruals and deferred income were increased in 2023, due to income received in advance of a conference in the financial year.

13 Movement in funds

Year ended 31 August 2024 Gain/ (loss) on
Income and Expenditure
revaln of fixed		 31 August
1 Sept 2023 gains and losses assets Transfers 2024
£ £ £ £ £ £
Restricted Bursary funds
Spiritual Health Weekend 6,004 23,887 (26,255) - - 3,636
Spiritual Health Days 1,927 - (1,927) - - -
Books 1,860 740 (1,725) - - 875
CEO Wellbeing 5,725 - (4,273) - - 1,452
Warriors - 15,810 - - - 15,810
Soldiers - 2,900 (10) - - 2,890
CEO Warriors - 1,250 - - - 1,250
15,516 44,587 (34,190) - - 25,913
Unrestricted funds
Designated funds
Mission and art complex 694,454 - (29,284) - 9,087 674,257
General funds 680,705 395,322 (453,885) - (9,087) 613,055
1,375,159 395,322 (483,169) - - 1,287,312
1,390,675 439,909 (517,359) - - 1,313,225

17

THE NGM TRUST NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

13 Movement in funds (continued)

Restricted funds represent:

Spiritual Health Weekend bursary fund - allowing ladies from backgrounds of poverty, abuse, prostitution and other challenging situations to attend the weekend for little or no cost. Some of these funds were from specific trusts and some raised through appeals to our supporters. All money raised goes directly to pay for part or full costs for the ladies who attend from the above backgrounds.

Spiritual Health Days bursary fund - funds given to allow ladies from backgrounds of poverty, abuse, street work and other difficult circumstances to attend the days and be given encouraging resources to take away with them.

Book bursary fund - this was set up during the pandemic to get our books and CDs into places where we couldn’t physically go such as prisons, foodbanks, debt advice centres etc. This was delivered through a variety of partners and we gave away over 3,500 books and CDs to help support and transform the lives of those in need. The need was so great during the pandemic that we were asked by the agencies working with the recipients to continue this fund.

CEO Wellbeing - this fund was given specifically after the CEO had her traumatic brain injury to aid her recovery and wellbeing longer term. The Trustees have used this as requested to cover irregular expenses occurred by the CEO during her longerterm recovery. This has been declared on a PSA settlement agreement.

Warriors - this fund comprises money of £1,000 or more which was given to help the extra funding needing to be raised for salaries in 2025.

Soldiers - this fund comprises money regular donated smaller amounts which are given to help the extra funding needing to be raised for salaries in 2025.

CEO Warriors - this money was given to help towards funding Nancy Goudie's salary in 2025.

Year ended 31 August 2023

Restricted Bursary funds
Spiritual Health Weekend
Spiritual Health Days
Books
CEO Wellbeing
Unrestricted funds
Designated funds
Mission and art complex
General funds		 1 Sept 2022
Income and
gains
Expenditure
and losses
Gain/(loss) on
revaln of fixed
assets
Transfers
31 August
2023
£
£
£
£
£
£
14,414
8,363
(16,773)
-
-
6,004
-
5,031
(3,104)
-
-
1,927
2,270
6,194
(7,261)
-
657
1,860
-
12,500
(6,775)
-
-
5,725
16,684
32,088
(33,913)
-
657
15,516
1,837,136
-
(17,538)
(1,190,000)
64,856
694,454
836,076
259,311
(349,169)
(65,513)
680,705
2,673,212
259,311
(366,707)
(1,190,000)
(657)
1,375,159
2,689,896
291,399
(400,620)
(1,190,000)
-
1,390,675

The Mission and Art Complex designated fund includes a revaluation reserve of £105,557 (2023: £105,557).

18

THE NGM TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

14
Analysis of net assets
Analysis of net assets at 31 August 2024
Restricted funds
Spiritual Health Weekend
Spiritual Health Days
Book Bursary Fund
CEO Wellbeing
Warriors
Soldiers
NG Warriors
Designated funds
Mission and art complex
General funds
Analysis of net assets at 31 August 2023
Restricted funds
Spiritual Health Weekend
Spiritual Health Days
Book Bursary Fund
CEO Wellbeing
Designated funds
Mission and art complex
General funds		 Investments
Tangible fixed
assets
Other assets
Total
£
£
£
£
-
-
3,636
3,636
-
-
-
-
-
-
875
875
-
-
1,452
1,452
-
-
15,810
15,810
-
-
2,890
2,890
-
-
1,250
1,250
-
674,257
-
674,257
587,722
-
25,333
613,055
587,722
674,257
51,246
1,313,225
Investments
Tangible fixed
assets
Other assets
Total
£
£
£
£
-
-
6,004
6,004
-
-
1,927
1,927
-
-
1,860
1,860
-
-
5,725
5,725
-
694,454
-
694,454
518,034
-
162,671
680,705
518,034
694,454
178,187
1,390,675

15 Related party transactions

The Inspire Arts Trust is a charity in which Mrs H McGreavy, Mr R Collier-Keywood and Mr D McGinn are also Trustees.

At the Balance Sheet date, The Inspire Arts Trust owed the charity £1,639 (2023: £9). This was for the balance of rent for the summer term which was paid in September 2024. During the year the charity invoiced £16,602 (2023: £14,407) to The Inspire Arts Trust for rent and administration expenses. The Inspire Arts Trust invoiced NGM £36 (2023: £nil) for costs incurred on their behalf. Amounts due to The Inspire Arts Trust are disclosed as £nil of creditors falling due within one year (2023: £nil).

The Trustees consider the key management personnel of the charity to be themselves, the Chief Executive Officer and the General Manager of the charity. Total remuneration and benefits received by key management personnel and related parties during the year were £131,988 (2023: £107,442). The increase is due to the employment of Aidan Goudie, son of the CEO, as a Production and Marketing assistant. The decision on offering him employment was overseen by one of the trustees given the potential for the CEO to have a potential conflict of interest. He has now left the charity. As stated in note 5, no Trustees received any remuneration during the year.

There are no other related party transactions other than those already disclosed throughout the financial statements.

19

THE NGM TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

16 Comparative Statement of Financial Activities

Income from:
Donations and grants
Investments
Charitable activities
Other sources
Total income
Expenditure on:
Charitable activities
Total expenditure
Net gains/(losses) on investments
Net income/expenditure
Gains/(losses) on revaluation of fixed assets
Transfers between funds
Net movement in funds
Total funds brought forward
Total funds carried forward		 Total
Unrestricted
Restricted
Funds
Funds
Funds
2023
£
£
£
194,725
32,088
226,813
14,091
-
14,091
42,112
-
42,112
1,641
-
1,641
252,569
32,088
284,657
366,707
33,913
400,620
366,707
33,913
400,620
6,742
-
6,742
(107,396)
(1,825)
(109,221)
(1,190,000)
-
(1,190,000)
(657)
657
-
(1,298,053)
(1,168)
(1,299,221)
2,673,212
16,684
2,689,896
1,375,159
15,516
1,390,675

20

Audit Trail

Document Details

Title
Accounts for signature		 Title
Accounts for signature
File Name
NGM		 TAR & Accounts YE 24.pdf
Document ID
b0b948d2bccf4227bae3a723878b7df8
Fingerprint
2a24536372659967571ce018bd0ba2e7
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