2023-09-30-accounts

Charity registration number 1158062

DAVID'S TENT

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

DAVID'S TENT

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Mr R D Sandor
	Mr J P Buhler
	Mr E Sandor
	Mr R D Mumford
	Ms S Rudd
Charity number	1158062
Principal address	85 Great Portland Street
	First Floor
	London
	W1W 7LT
Independent examiner	Colin Dadswell FCA FCCA DChA
	Caladine Limited
	Chantry House
	22 Upperton Road
	Eastbourne
	East Sussex
	BN21 1BF
Bankers	Reliance Bank
	Faith House
	23-24 Lovat Lane
	London
	United Kingdom
	EC36 8EB

DAVID'S TENT

CONTENTS

	Page
Trustees' report	1 - 2
Statement of trustees' responsibilities	3
Independent examiner's report	4
Statement of financial activities	5
Statement of financial position	6
Statement of cash flows	7
Notes to the financial statements	8 - 17

DAVID'S TENT

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2023

The trustees present their report and accounts for the year to 30 September 2023.

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 trust deed the Charities Act 2011 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 objects of the charity are:

• To advance the Christian religion in accordance with the Statement of Faith.

• To advance education in particular but not exclusively in relation to the doctrines of the Christian religion.

The Charity achieves these objects by

1. Holding public worship services and prayer meetings on a regular basis in London and key cities around the UK

2. Supporting public worship and praise, in particular through music, dance and the arts through these services and conferences.

3. Providing educational and evangelistic conferences, meetings and festivals like our summer conferences held at the Wiston Estate in West Sussex. The organisation has felt it appropriate to move location to sustain the event for the future. The festival will be held at Charlton Park in Wiltshire in 2024.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

David’s Tent continues to achieve its goals and objectives to advance the Christian gospel and promote its values of faith, peace, and worship by providing space for the body of Christ to gather together in unified worship. The biggest of our achievements is our annual worship gathering, which was attended by over 6,000 people in 2023. The festival is a place where people can experience a thriving community of faith-driven individuals. They express their worship through art, dance, worship, and prayer. Alongside others who share the same faith, they enjoy teaching, encouragement, and an atmosphere of hope which promotes the growth of their faith. In addition to our annual festival, David’s Tent works diligently throughout the year to nurture leaders in spiritual development at our annual leader’s retreat. Musicians are specifically developed in training and community at our annual musician’s retreats. The public body of worshippers is invited to attend the regular worship gatherings that we facilitate around the UK. These draw, on average, around 350-600 people, depending on the location.

Volunteers

David's Tent thrives because we have so many outstanding volunteers who give up their time to invest in it. Over 58,000 hours of volunteer service have been donated to date. Without this valuable contribution, David's Tent would not be able to succeed.

Financial review

The charity recorded an overall deficit for the year of £21,955 (2022: deficit of £41,458). At 30 September 2023 total funds were in deficit by £23,193 (2022: £1,238 deficit). All funds are unrestricted.

David's Tent is funded primarily through the sale of conference tickets and through donations which fund the ongoing work of the trust (public Prayer and worship gatherings) throughout the year.

• 1 -

DAVID'S TENT

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Reserves policy

Any reserves are invested back into the trust or held for future payments that will be required for our larger conferences.

Major risks

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 was registered as a Charitable Incorporated Organisation (CIO) on 30 July 2014 and is governed by its Constitution.

The trustees who served during the year and up to the date of signature of the financial statements were:

Mr R D Sandor

Mr J P Buhler Mr E Sandor Mr R D Mumford Ms S Rudd

Recruitment and appointment of trustees

Trustees are appointed by a majority vote of the existing trustees. Suitable training is provided.

The trustees' report was approved by the Board of Trustees.

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

Mr R D Mumford Tr ustee

Da te: .............................................

• 2 -

DAVID'S TENT

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 SEPTEMBER 2023

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

• 3 -

DAVID'S TENT

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DAVID'S TENT

I report to the trustees on my examination of the financial statements of David's Tent (the charity) for the year ended 30 September 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of 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

Since the charity’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 am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

• 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Colin Dadswell FCA FCCA DChA

Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

Dated: .........................

• 4 -

DAVID'S TENT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2023

		Unrestricted	Restricted	Restricted	Total	Unrestricted
		funds		funds		funds
		2023		2023	2023	2022
	Notes	£		£	£	£
Income from:
Donations and legacies	3	69,012		29,351	98,363	65,696
Charitable activities	4	715,792		-	715,792	648,169
Other trading activities	5	80,816		-	80,816	62,152
Total income		865,620		29,351	894,971	776,017
Expenditure on:
Raising funds	6	58,267		-	58,267	63,388
Charitable activities	7	819,884		38,775	858,659	754,087
Total expenditure		878,151		38,775	916,926	817,475
Net expenditure		(12,531)		(9,424)	(21,955)	(41,458)
Transfers between funds	16	(9,424)		9,424	-	-
Net movement in funds		(21,955)		-	(21,955)	(41,458)
Reconciliation of funds:
Fund balances at 1 October 2022		(1,238)		-	(1,238)	40,220
Fund balances at 30 September 2023		(23,193)		-	(23,193)	(1,238)

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

• 5 -

DAVID'S TENT

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2023

		2023				2022
	Notes	£		£		£	£
Current assets
Trade and other receivables	13	15,101				8,197
Cash at bank and in hand		20,195				50,722
		35,296				58,919
Current liabilities	14	58,489				60,157
Net current liabilities			(23,193)				(1,238)
The funds of the charity
Unrestricted funds	17		(23,193)				(1,238)
			(23,193)				(1,238)
The financial statements were approved by the trustees on .........................
..............................	..............................
Mr R D Sandor	Mr R D Mumford
Trustee	Trustee

• 6 -

DAVID'S TENT

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2023

			2023			2022
	Notes	£		£	£		£
Cash flows from operating activities
Cash absorbed by operations	19			(30,527)			(9,673)
Net decrease in cash and cash equivalents				(30,527)			(9,673)
Cash and cash equivalents at beginning of year				50,722			60,395
Cash and cash equivalents at end of year				20,195			50,722

• 7 -

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

DAVID'S TENT

1 Accounting policies

Charity information

David's Tent is a charitable incorporated organisation governed by a constitution dated 24 July 2014. The principal address is 85 Great Portland Street, First Floor, London W1W 7LT.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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. The principal accounting policies adopted are set out below.

1.2 Going concern

The trustees are aware that the financial situation at the balance sheet date is unsatisfactory as reserves were overdrawn. The charity has faced financial difficulties in recent years but has been sustained through those leaner times with careful planning and budgeting. The trustees have plans in place to build up the level of unrestricted reserves by running a surplus budget in 2023-24 and ensuring tight controls on expenditure.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future. 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 or grantors 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

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Ticket sales for events beyond the year end date are deferred to the balance sheet.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

• 8 -

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting policies (Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Resources are expended in the period in which they are incurred and allocated to the particular cost centre to which they relate.

Irrecoverable input VAT is included with the expenditure to which it relates - formerly this had been shown as a separate expense line.

1.6 Cash and cash equivalents

Cash and cash equivalents 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 charity's 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 trade and other receivables 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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans 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 payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

• 9 -

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting policies (Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

• 10 -

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

3 Donations and legacies

		Unrestricted	Unrestricted	Restricted	Restricted		Total	Unrestricted	Unrestricted
			funds		funds				funds
			2023		2023		2023		2022
			£		£		£		£
	Donations and gifts		69,012		29,351		98,363		65,696
	Donations and gifts
	Donations and gifts		63,005		29,351		92,356		60,852
	Gift aid refunds		6,007		-		6,007		4,844
			69,012		29,351		98,363		65,696
4	Income from charitable activities
					Unrestricted			Unrestricted
							funds		funds
							2023		2022
							£		£
	Ticket sales						589,620		535,491
	Camping fees						113,138		99,117
	Other income						13,034		13,561
							715,792		648,169
5	Income from other trading activities
					Unrestricted			Unrestricted
							funds		funds
							2023		2022
							£		£
	Merchandise						11,332		7,207
	Café and catering vans						64,828		50,798
	Shop income						4,656		4,147
	Other trading activities						80,816		62,152

• 11 -

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

6 Expenditure on raising funds

	Unrestricted	Unrestricted
	funds	funds
	2023	2022
	£	£
Fundraising and publicity
Website and marketing	39,487	44,456
Trading costs
Merchandise costs	5,513	4,372
Café and catering van costs	13,267	14,560
	18,780	18,932
Total costs	58,267	63,388

• 12 -

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

7 Charitable activities

	2023		2022
	£		£
Staff costs	96,454		83,309
Production and marquee hire	266,101		198,184
Artists' costs	78,692		105,197
Campsite costs	54,486		49,330
Catering	40,418		32,957
Event management	47,256		21,829
Travel and vehicle hire	67,262		63,975
Security, health and safety	8,457		13,919
Venue hire	23,568		21,838
Volunteer Tshirts	3,182		2,434
Waste management	11,638		8,520
Licences for performance rights	12,082		10,166
Wristbands and other sundry conference costs	17,691		4,721
Worship nights	20,010		15,891
	747,297		632,270
Grant funding of activities (see note 8)	73,375		42,468
Share of support costs (see note 9)	34,384		31,031
Share of governance costs (see note 9)	3,603		48,318
	858,659		754,087
Analysis by fund
Unrestricted funds	819,884		754,087
Restricted funds	38,775		-
	858,659		754,087

• 13 -

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

8 Grants payable

	Charitable	Charitable
	activities	activities
	2023	2022
	£	£
Grants to institutions:
David's Tent International	30,000	38,868
The Mission	38,775	-
	68,775	38,868
Grants to individuals	4,600	3,600
	73,375	42,468

9 Support costs allocated to activities

	Charitable	Charitable		Total
	activities
		2023		2022
		£		£
Bank charges and fees		1,840		1,896
Insurance		6,248		4,630
Ticket sale platform fees		21,722		19,963
Office and IT costs		4,574		4,542
Governance		3,603		48,318
		37,987		79,349
		2023		2022
Governance costs comprise:		£		£
Accountancy and IE		3,603		3,890
VAT (from 2023 included within expenditure lines)		-		44,428
		3,603		48,318

10 Trustees

Except as disclosed in note 18 'Related Party Transactions,' none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

• 14 -

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

11 Employees

The average monthly number of employees during the year was:

		2023		2022
	Number		Number
Event staff		2		2
Employment costs		2023		2022
		£		£
Wages and salaries		91,606		78,575
Social security costs		2,679		2,645
Other pension costs		2,169		2,089
		96,454		83,309

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

	2023	2022
	£	£
Aggregate compensation	38,175	35,209

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Trade and other receivables

Trade and other receivables
	2023	2022
Amounts falling due within one year:	£	£
Trade receivables	6,103	6,126
Other receivables	7,332	2,071
Prepayments and accrued income	1,666	-
	15,101	8,197

• 15 -

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

14	Current liabilities
			2023	2022
		Notes	£	£
	Other taxation and social security		1,520	5,633
	Deferred income	15	14,620	8,182
	Trade payables		16,496	44,242
	Accruals		25,853	2,100
			58,489	60,157

15	Deferred income
		2023	2022
		£	£
	Arising from Advance Ticket Sales	14,620	8,182

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

	At	1	October	Incoming	Resources	Transfers	At 30
			2022	resources	expended		September
							2023
			£	£	£	£	£
The Mission			-	29,351	(38,775)	9,424	-

The Mission – an appeal at David’s Tent 2023 summer festival raised funds for The Mission following a devastating fire at their campus in Tijuana, Mexico. The Mission runs orphanages and does other charitable work with children and families in Mexico, Romania and Nicaragua. All the funds raised were donated to The Mission in 2023 with additional funds transferred from general funds.

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At	1	October	Incoming	Resources	Transfers	At 30
			2022	resources	expended		September
							2023
			£	£	£	£	£
General funds			(1,238)	865,620	(878,151)	(9,424)	(23,193)

• 16 -

DAVID'S TENT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

17 Unrestricted funds (Continued)

Previous year:	At 1 October	Incoming	Resources	Transfers	At 30
	2021	resources	expended		September
					2022
	£	£	£	£	£
General funds	40,220	776,017	(817,475)	-	(1,238)

18 Related party transactions

A total of £1,077 (2022: £1,814) was paid to Sarah Rudd, a trustee, as re-imbursement of travel and other expenses in relation to her work as a volunteer.

A total of £3,102 (2022: £3,755) was paid to Tiffany Buhler, wife of trustee Justin Buhler, as re-imbursement of travel and other expenses.

The trustees of David's Tent (charity number 1158062) also oversee David's Tent International which is registered in the United States as a non-profit (EIN: 83-2041657). Tiffany Buhler is Managing Director of David's Tent International. David's Tent made donations to David's Tent International of £30,000 during the year (2022: £38,868).

Authority for these payments is contained within the charity's governing document.

19 Cash generated from operations

Cash generated from operations	2023	2022
	£	£
Deficit for the year	(21,955)	(41,458)
Movements in working capital:
(Increase)/decrease in trade and other receivables	(6,904)	2,096
(Decrease)/increase in trade and other payables	(8,106)	24,370
Increase in deferred income	6,438	5,319
Cash absorbed by operations	(30,527)	(9,673)

20 Analysis of changes in net funds

The charity had no material debt during the year.

• 17 -