REGISTERED CHARITY NUMBER: 1179226
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
WALES LEADERSHIP FORUM
MHA Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS
WALES LEADERSHIP FORUM
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 10 |
| Detailed Statement of Financial Activities | 11 |
WALES LEADERSHIP FORUM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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
Objectives and aims
The objects as included within the constitution of The Wales Leadership Forum (WLF) are:
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Advancement of the Christian religion.
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Sharing and implementing the best strategies for reaching others for Christ.
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Renewing local churches.
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The advancement of education amongst the Christian community achieved by organising conferences and programs to assist Christian leaders to develop their gifts and abilities in their unique vocations and calling.
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Mentoring the next generation of evangelical leaders: financial support for their ministries; leading their churches or other organisations faithfully and with godly wisdom.
The main activities of the Wales Leadership Forum since its formation have been providing training support and mentoring for Christian leaders.
We have also provided funding for Christian projects throughout Wales.
Significant activities Support
Funds for the support of the ministry in 2022/23 were primarily sourced from the existing support base.
Projects
The annual conference was run in September and was attended by approximately 200 people. During the conference we ran a variety of seminars including, soul care, discipleship, and evangelism. Follow up training session were also run throughout the year on various topics and in different places throughout Wales.
FINANCIAL REVIEW
Financial position
Income for the year totalled £77,225 (2022: £64,182).
Expenditure in the period totalled £59,964 (2022: £41,504)
The charity is reporting a surplus for the year of £17,261. This figure is split as a surplus on restricted funds of £17,041 and a surplus on unrestricted funds of £220.
At 31 March 2023 total funds were £80,472. Of these funds £19,803 were restricted and £32,901 were held as designated funds. The balance of free reserves at the year end was £27,768.
Reserves policy
As there are no recurring overhead costs required to maintain the charity, the trustees do not consider it necessary to retain specific reserves.
FUTURE PLANS
The trustees will continue with the plans developed in the first year of operation.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Wales Leadership Forum was established as a foundation Charitable Incorporated Organisation, registered on 17 July 2018 with a constitution as a governing document.
Recruitment and appointment of new trustees
Should the need arise new trustees will be appointed for a term of two years by the existing trustees taking full account of the individual's relevant skills, knowledge and experience. Any new trustees will be appropriately trained in respect of their responsibilities and the procedures of the charity.
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WALES LEADERSHIP FORUM
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The charity does not employ any staff and is administered by the trustees and the operational committee who provide day to day support for the running of the charity. Decisions in respect of grants to be awarded are made at trustee meetings.
Risk management
It is not considered that the charity is exposed to any major risks, but this is continually reviewed and should any such be identified, mitigating procedures will be devised and implemented.
| REFERENCE AND ADMINISTRATIVE DETAILS | REFERENCE AND ADMINISTRATIVE DETAILS | |
|---|---|---|
| Registered Charity number | ||
| 1179226 | ||
| Principal address | ||
| 76 South Rise | ||
| Lisvane | ||
| CARDIFF | ||
| County of Cardiff | ||
| CF14 0RG | ||
| Trustees | ||
| Chris Street | Chair | |
| Dr Lindsay Brown | ||
| Dr David Norbury | ||
| Rev John Edward Funnell | ||
| Rev Andrew Mark Pitt | ||
| Elaine Macdonald | appointed 4 July 2022 | |
| Philip Davies | appointed 10 January 2022 | |
| Rebecca Sian Thomas | appointed 1 September 2022 | |
| Rev Peter Glyn Baker | appointed 1 November 2022 | |
| Independent Examiner | ||
| MHA (trading name of MacIntyre Hudson LLP) | ||
| Limited liability partnership in England & Wales | ||
| Registered number OC312313 | ||
| Elfed House | ||
| Oak Tree Court | ||
| Cardiff Gate Business Park | ||
| CARDIFF | ||
| CF23 8RS | ||
| Bank | ||
| Lloyds Bank plc. | ||
| Blackheath London Branch |
Approved by order of the Board of Trustees on ............................................. and signed on its behalf by:
...................................................................... C P Street - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WALES LEADERSHIP FORUM
Independent examiner's report to the trustees of Wales Leadership Forum
I report to the charity trustees on my examination of the accounts of Wales Leadership Forum (the Trust) 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 Act and in carrying out my examination I have followed all 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 giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts 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 accounts to be reached.
Julia Mortimer FCCA MHA (trading name of MacIntyre Hudson LLP) Limited liability partnership in England & Wales Registered number OC312313 Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS
Date: .............................................
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WALES LEADERSHIP FORUM
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted Restricted funds funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 16,171 60,985 Investment income 4 4 65 Total 16,175 61,050 EXPENDITURE ON Charitable activities 5 Conference 13,380 - EQUIP - - Growing churches 2,575 44,009 Total 15,955 44,009 NET INCOME 220 17,041 RECONCILIATION OF FUNDS Total funds brought forward 60,449 2,762 TOTAL FUNDS CARRIED FORWARD 60,669 19,803 |
2023 Total funds £ 77,156 69 77,225 13,380 - 46,584 59,964 17,261 63,211 80,472 |
2022 Total funds £ 64,178 4 |
|---|---|---|
| 64,182 | ||
| 10,371 1,000 30,133 |
||
| 41,504 | ||
| 22,678 40,533 |
||
| 63,211 |
The notes form part of these financial statements
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WALES LEADERSHIP FORUM
BALANCE SHEET 31 MARCH 2023
| Unrestricted Restricted funds funds Notes £ £ CURRENT ASSETS Cash at bank 61,389 19,803 CREDITORS Amounts falling due within one year 9 (720) - NET CURRENT ASSETS 60,669 19,803 TOTAL ASSETS LESS CURRENT LIABILITIES 60,669 19,803 NET ASSETS 60,669 19,803 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
2023 Total funds £ 81,192 (720) 80,472 80,472 80,472 60,669 19,803 80,472 |
2022 Total funds £ 64,444 (1,233) 63,211 63,211 63,211 60,449 2,762 63,211 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. C P Street - Trustee
The notes form part of these financial statements
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WALES LEADERSHIP FORUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. STATUTORY INFORMATION
Wales Leadership Forum is a charitable incorporated organisation, registered in England and Wales. The contact address is 76, South Rise, Lisvane, Cardiff, CF41 0RG.
The principal activities and nature of the charity's operations is to provide training support and mentoring for Christian leaders, and to provide funding for Christian projects throughout Wales.
The financial statements are presented in Sterling (£), the charity's functional currency, and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent to provide a 'true and fair' view. This departure has involved following the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
There have been no material departures from Financial Reporting Standard 102.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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WALES LEADERSHIP FORUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
| 3. DONATIONS AND LEGACIES Gifts Grants Grants received, included in the above, are as follows: The Rehoboth Trust - Training evangelists 4. INVESTMENT INCOME Deposit account interest 5. CHARITABLE ACTIVITIES COSTS Grant funding of activities Direct (see note Costs 6) £ £ Conference 10,865 1,330 Growing churches 45,584 1,000 56,449 2,330 6. GRANTS PAYABLE Conference EQUIP Growing churches |
2023 £ 74,156 3,000 77,156 2023 £ 3,000 2023 £ 69 Support costs £ 1,185 - 1,185 2023 £ 1,330 - 1,000 2,330 |
2022 £ 61,178 3,000 64,178 2022 £ 3,000 2022 £ 4 Totals £ 13,380 46,584 59,964 2022 £ 150 1,000 - 1,150 |
|---|---|---|
During the year the charity made the following grants:
Grants to institutions £1,000 to one (2022: £1,000 to three) churches and religious organisations throughout Wales. Grants to individuals £1,330 to three (2022: £150 to two) individuals.
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 or for the year ended 31 March 2022.
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WALES LEADERSHIP FORUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
7. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
There were no trustees' expenses for the year ended 31 March 2023 or for the year ended 31 March 2022.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Unrestricted | Restricted | Restricted | Total | ||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| £ | £ | £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 41,268 | 22,910 | 64,178 | |||
| Investment income | - | 4 | 4 | |||
| Total | 41,268 | 22,914 | 64,182 | |||
| EXPENDITURE ON | ||||||
| Charitable activities | ||||||
| Conference | 10,371 | - | 10,371 | |||
| EQUIP | 1,000 | - | 1,000 | |||
| Growing churches | - | 30,133 | 30,133 | |||
| Total | 11,371 | 30,133 | 41,504 | |||
| NET INCOME/(EXPENDITURE) | 29,897 | (7,219) | 22,678 | |||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 30,552 | 9,981 | 40,533 | |||
| TOTAL FUNDS CARRIED FORWARD | 60,449 | 2,762 | 63,211 | |||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Other creditors | 720 | 1,233 | ||||
| 10. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1/4/22 | in funds | 31/3/23 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General Fund | 24,977 | 2,791 | 27,768 | |||
| EQUIP Fund | 2,548 | 4 | 2,552 | |||
| Growing Churches Fund | 32,924 | (2,575) | 30,349 | |||
| 60,449 | 220 | 60,669 | ||||
| Restricted funds | ||||||
| 30s Fund | 2,502 | 5 | 2,507 | |||
| Growing Churches Fund | 260 | 17,036 | 17,296 | |||
| 2,762 | 17,041 | 19,803 | ||||
| TOTAL FUNDS | 63,211 | 17,261 | 80,472 |
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WALES LEADERSHIP FORUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General Fund | 16,171 | (13,380) | 2,791 |
| EQUIP Fund | 4 | - | 4 |
| Growing Churches Fund | - | (2,575) | (2,575) |
| 16,175 | (15,955) | 220 | |
| Restricted funds | |||
| 30s Fund | 5 | - | 5 |
| Growing Churches Fund | 61,045 | (44,009) | 17,036 |
| 61,050 | (44,009) | 17,041 | |
| TOTAL FUNDS | 77,225 | (59,964) | 17,261 |
Comparatives for movement in funds
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1/4/21 | in funds | funds | 31/3/22 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General Fund | 17,004 | 30,897 | (22,924) | 24,977 |
| EQUIP Fund | 3,548 | (1,000) | - | 2,548 |
| Growing Churches Fund | 10,000 | - | 22,924 | 32,924 |
| 30,552 | 29,897 | - | 60,449 | |
| Restricted funds | ||||
| 30s Fund | 2,502 | - | - | 2,502 |
| Growing Churches Fund | 7,479 | (7,219) | - | 260 |
| 9,981 | (7,219) | - | 2,762 | |
| TOTAL FUNDS | 40,533 | 22,678 | - | 63,211 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General Fund | 41,268 | (10,371) | 30,897 |
| EQUIP Fund | - | (1,000) | (1,000) |
| 41,268 | (11,371) | 29,897 | |
| Restricted funds | |||
| Growing Churches Fund | 22,914 | (30,133) | (7,219) |
| TOTAL FUNDS | 64,182 | (41,504) | 22,678 |
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WALES LEADERSHIP FORUM
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
10. MOVEMENT IN FUNDS - continued
Designated funds
The EQUIP Fund is an initiative to help support, resource and fund ‘grassroots’ projects or ministries across Wales as they share the gospel with Welsh communities.
The Growing Churches Fund; a programme set up to identify and train four future church leaders each year, for 10 years, each one working with a local church in Wales.
Restricted funds
30s Fund
The 30s Fund was a gift received to encourage young people under the age of 30 to attend the Wales Leadership Forum conference.
Growing Churches Fund
This fund relates to specific donations received towards the Growing churches programme, which was set up to identify and train four future church leaders each year, for 10 years, each one working with a local church in Wales.
11. RELATED PARTY DISCLOSURES
During the year a gift of £4,000 (2022 - £5,000) was received from The Bridge Church Cardiff, a charity which had a common trustee for the relevant part of the financial year.
During the year, total gifts of £Nil (2022 - £5,000) was received from trustees.
There were no further related party transactions or balances for the year ended 31 March 2023 or 31 March 2022 requiring disclosure.
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WALES LEADERSHIP FORUM
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 74,156 | 61,178 |
| Grants | 3,000 | 3,000 |
| 77,156 | 64,178 | |
| Investment income | ||
| Deposit account interest | 69 | 4 |
| Total incoming resources | 77,225 | 64,182 |
| EXPENDITURE | ||
| Charitable activities | ||
| Sundries | 848 | 237 |
| Conference speaker expenses | 3,021 | 1,073 |
| Stationery | - | 86 |
| Website services | 2,476 | 4,492 |
| Venue costs | 2,197 | 400 |
| Refreshments/entertaining | 651 | 387 |
| Video/films | 3,100 | 3,025 |
| Technicians | 147 | - |
| Growing churches project | 44,009 | 30,133 |
| Grants to institutions | 1,000 | 1,150 |
| Grants to individuals | 1,330 | - |
| 58,779 | 40,983 | |
| Support costs | ||
| Finance | ||
| Bank charges | 145 | 171 |
| Governance costs | ||
| Accountancy and legal fees | 1,040 | 350 |
| Total resources expended | 59,964 | 41,504 |
| Net income | 17,261 | 22,678 |
This page does not form part of the statutory financial statements
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