REGISTERED CHARITY NUMBER: 1179226 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR WALES LEADERSHIP FORUM MHA Elfed Houstr Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS
WALES LEADERSHIP FORUM CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Rèport ol the Truste•s Indèpendent ExamlnePs R•port Statemont of Flnanclal Actfviti•$ Balance Sheet Notes to the Flnanclal Statements 6 to 10
WALES LEADERSHIP FORLIM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees present their report wth the financial statements of the charity for the year ended 31 March 2024. The truslees have adopted the provisions of Accwnting 8nd Reporting by Charities.. Statement ol Recommended Practi¢e applicable lo charities pParIng their accounts in acr4)rdance with the Financial Reporting Standard applicable in tho UK and Republic of Ireland IFRS 1021 (effective 1 January 2019}. OBJECTIVES AND ACTIVITIES Objectives and a5ms The objects as included within the constitubon of Thè Wales Leadership Forum (WLF) are.. Advancernenl of the Chrisisan religion. Sharing and implementirrfJ the best strategies for reaching others for Christ. Renewing local churches. The advancernenl of education aMC9St thè Chri$li8n community achieved by organising conferences and programs lo assist Christian leaders to develop their grft$ and abilthe5 in Iheir unique vocations and calling. Mentoring the next generation of evangelical lea(fers'. financial support for their ministries., leading their churche5 or other organisatsons faithful and with godly wisdom. The main 8Ctivrtie¥ of the Wale5 Leadership Fonjm since its lornation has been providing training support and mentoring lor Christian leaders. We have 8lso provided funding for Christtan projects thioughout Wal¢s. Significant a¢tivities Supptyrt Funds for the supwrt of the mnistry in 2023124 were primarily sourced from the existing support base. Proieets The annual conferene£ was Fun in September and was attended by approximately 200 people. During the conference we run a variety of seminars including, soul eare. di5ripleship. and evangelisrn. Folsow up training sessions were alsts Tun throughout the year on various topics an¢J in different pla thfoughoul Wales. FINANCIAL REVIEW Financial position Income for the year totalled £48,29012023.. £77.2251. Expenditure in Ihe year totalled £60,915 {2023.' £59.4) The charity is reporting a net deficit for the year of £12,625. This figure 18 split as 8 defiat on restrLted funds of £6.939 and a defiul on unrestricted funds of £5,686. At 31 March 2024 total funds were £67.847. 01 these fuTKl$ £12,864 were restrcted, leaving unreslricted luniJ$ of £54,983. Reserves pollcy As there are no recuning ovethead costs required to maintain the charity, the Iwslees do consider it necÈ$$ary lo relain specrfK resees. FUTURE PLANS The trustees are currently rQWIng the annu81 conference to see rfthere is a nThJre appropriate model. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng docum•nt Wales Leadership Fuum was established as a foLFndation Charitable Incorporated Organisation. registered on 17 Ju 2018 with a constftLrtion as a wveming docurnent. R•crultm•nt and appolntment of new trustees Should the need 3r158 new Irvslees will be appointed for a temi of years by the existing trustees iaking lull acc4)unt of the indivtdual's relevant skills, knoedge and experiencE. Any new trustees will be appropriatety trained 41 respect of their respon&bilitses and the PredureS of the charity. Page 1
WALES LEADERSHIP FORUM REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisatlonal structure The charty does not employ 8ny stsff and is administered by the trustees and the or¢r*ional committee who provide day to day support for the rtjnning of the chaiily. Deosions in resped of grants lo be awarded are made al trustee meetings. Rlsk management It is not considered that the Charity 1$ exSed to any major risks, but this Is ¢ontinualty reviewed and should any Such be idents"fied, mitigating prodUreS will be devised and iMemented. Saf•guardlng A safeguarding wAi¢y 1$ now In pla¢e. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charlty number 1179226 Prlnclpal address 76 South Rise Lisvane CARDIFF County of Cardiff CF14 ORG Trustees Chris Slreet Dr Lindsay Brown Dr David Norbury Rev John Edward Funnell Rev Andrew Mark Pitt Elaine Maedonald Phillip Davies RttbeC Sian Thom85 Rw Peter Glyn Baker Chair Resigned 13.11.24 Ressgned 13.11.24 Independent Examingr MHA Ilrading namo of Maclntyre Hudson LLPI Limited liability partnership in England & Wales Registered number OC312313 Ell Hous8 Oak Tree Court Cardiff Gale Bu$ines$ Park CARDIFF CF23 8RS Bank Uoyds Bank ¢. Bl8¢kheath London Branch Approved by order of the Board of Twslees on 27 January 225 and signed on Its behalf by.. C P Street- Trustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WALES LEADERSHIP FORUM Indendent examinerfs report to the trustees of Wales Leadership Forum l TeFA)rt lo the ¢haiity Iruslees on my examination of the accounts of Wales Leadership Forum {Ihe Trust) for the year ended 31 Mar¢h 2024. Responsibilities and basis of report A8 the charity Iwslees of the Trust you are responsible for the preparation of the accounts in accL)rdan with the reqU1ments of the Cttarilies Act 2011 Clhe Act'i. I report in Tespe¢t of my examination of the Twsl's accounts carried out under Section 145 of the Act and in car.ng out my examination I have followed all applicable Directions given by the Charity Commission under Section 145151{b} ot thg Independent examine? ¥tstement I have ¢ompltrled my examination. I confirm that no material matters have come to my attention in connection the exarnination giving mé t(> beligve Ihal in any material respect. a¢¢ounting fe¢ords were not kept in respect of Ihe Trust as required by Section 130 of the Aci,. or the 8ecounts do not accord with those records., or the 8c£ounts do n<rt comply with the applicable requirements concerning the form and conlenl of #tUnts set out in the Chartties (Accounts and R8portsl Regulations 2008 other tr8n any requirement Ihal the 8ccoun15 give true and fair wew which is not a matter considered as part of an irKlependenl examination. I have no eoncems and have come across no other matters in ¢onne¢tion with the examination to which #ttenlion should bo drawn in this report in order to ènable a propèr understanding ofthtr ae£ounts lo reached. Julia Mortimer FCCA MHA (trading name ol Maclntyre Hudson LLP) Limited liabillly partnership in England & Wales Registered number OC312313 Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS Date.. Page 3
WALES LEADERSHIP FORUM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds ReStrted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 8,601 39,380 47,961 77.156 InVtment income 20 309 329 69 Total 8.621 39,669 48.290 77.225 EXPENDITURE ON Charitable activities Conference EQUIP Growing Churches 13.836 471 13,836 471 46,608 13,380 46.608 46.584 Total 46.608 6L),915 NET INCOMEIIEXPENDITURE) 15,6861 16,9391 112,6251 17,261 RECONCILIATION OF FUNDS Total funds broughl forward 80.fj69 19.803 80,472 63,211 TOTAL FUNDS CARRIED FORWARD 54,983 12.864 67.847 80,472 The notes fomi part of these finanual slatemonts Page 4
WALES LEADERSHIP FORUM BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted lunds Restricted funds Notes CURRENT ASSETS Cash al bank 86,783 12,864 69.647 81,192 CREDITORS Amoun15 falling due wthin one year (1,8LXII 11.800) 17201 NET CURRENT ASSETS 54,983 12,864 67,847 TOTAL ASSETS LESS CURRENT UABILITIES 54,963 12,884 67,847 80,472 NET ASSETS 54,983 67,847 80.472 FUNDS Unrestricted funds Restricted fvnd$ 10 54,983 19,803 TOTAL FUNDS 67.847 80.472 The financial statements wote apprtsved by the Board of Trustees arHI aulhorised for issue on 27 January 2025 and wer8 Sl9ned on its behalf by.. C i? Street- Trustee The noles form part of ihese financial slaternents Page 5
WALES LEADERSHIP FORUM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION Wales Leadership Forum is a chartsble in¢orporaled organisalion. registered in England and Wales. The ntact address is 76, South Rise. Lisvane. Cardiff, CF41 ORG. The prinapal activities and natLtre of the tharity'$ oper3t(ons is lo provide training support and mentoring for Christsan leaders, and to prowde funding for Christian projeds throughout Wales. The financial statements aTe presented in Steding (£1, the charity's fundional ujrrency, and round lo the nearest pound. The significant accounting policies applied In the preparation of these finanaal statements are set out below. These poliries have been consistently applied to all Yea preseirted unless otherwise stated. ACCOUNTING POLICIES 8asls of preparlng the financlal statements The financial statements of the charity, which is a publ1¢ benefit trntity under FRS 102, have been prepad in accordance with the Charities SORP IFRS 102} 'Aco)unling and Reporting by Charities.. Statèment of Recornrpended Prdctice applicable to charilies preparing their accounts in accordance with the Financ4al Reporting Standard applicable in the UK and Republic ol Ireland IFRS 102} (effective 1 January 2019}', Finanryal Reporting Standard 102 'The FinancAal Reporting Standar<l appli¢8ble in the UK and Republic of Ireland, and the Charilies Act 2011. The financial statements have bè8n prepared under the historical cost wnvention. The financial slalemenls have been Prepared to give a Iw¢ and faif view 8nd have departed from the Charib"e$ (Accounts and RÈportsl Regulations 2008 onty to Ihe extent to provide a 'true and faie view. This departure has involved follo9 Ihe Accounting and Reporting by Charitles-. Statement of Recommended Pr8dice applicable to charities preparing Iheir accounts in accordance with the F4nancial Reporting Standard applicable in the UK and RepLtblic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities.. Slalement of Recommend8d Pra¢tico effe¢tiv¢ from 1 April 2(X)5 which has since been wlthdrawn. There hav¢ been no material departures from Finanoal Reporting Standard 102. Income All ItMe is recognised in th8 Statement of Financial Activities once the charity has entrflement to the funds, il is probable that the income will be re¢eived and the amounl can be measured reliably. Expenditure Liah'litses are recognised as expenditure 8$ soon as there is a legal or constr¢Jctive obligation committing the charty to that expenditurè, il 15 probable th31 a transfer ol economic benefits wtll be reqL5ired in settlement and the amount of the obligats.on can be measured reliably. Expenditure is accounted for on an accruals basis and has been dassified under heading$ that aggregate all cost related to the category. ere costs Cannot be directly attributed to particular headings they have been allocated lo activ¢ties on a basis c4)nsistent with the use of resources. Grants offered subject to condition$ which have not been met at the year end date are noted as a eornrnitment b4Jt not accrued as expenditure. Taxatl<>n The charty is exempt from tax on its tharitable activrties. Fund aeeountÉn9 Unrestrtcted fvnds can be used in accordan with the tharitable objectives at the discretion of the trustees. Restricted funds can onty be used for particular restricted purposes within the objects of the charity. Restrict#Jns arlsts when specified by the donor or when fvnds are raised for pai*cular restricted purposes. Furt[ extAanalion of the nature and purpose of each fund is indLMled in the notes to thè financial 5talements. Page 6 conts'nued...
WALES LEADERSHIP FORUM NOTES TO THE FINANCIAL STATEMENTS- eontlnued FOR THE YEAR ENDED 31 MARCH 2024 OONATIONS AND LEGACIES 2024 2023 Gifts Grants 47.961 74.156 3.000 47.1 77.156 Grants received. indude<l in the abov&, 8fe as follows.. 2024 2023 The Rehoboth Trust- Training evangelists 3,0 INVESTMENT INCOPIIE 2024 2023 Deposit account interest 329 69 CHARITABLE ACTIVITIES COSTS Grant funding of a¢tivilies {s&è nota Direct Costs Support costs 61 Totals Conferen¢& EQUIP Growing churches 10.656 300 471 2,880 13.836 471 57,264 771 2,880 60,915 GRANTS PAYABLE 2024 2023 Cortfenee EQUIP Growing thurthes 3CX) 471 1,330 771 2,330 During the year the charity made grants to fv40 individLEals totalling £771. TRUSTEES. REMUNERATION AND BENEFITS There We no trustees, remuneratlon or other bonefits for Ihg year ended 37 March 2024 or for the year ended 31 March 2023. Page 7 contintsed...
WALES LEADERSHIP FORUM NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. REMUNERATION AND 8ENEFITS- contlnuad Trustèès, ¢xpen$o$ There were no trustèes. gxp8n5es foT the year ended 31 March 2024 or forlhe year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES unstriCted funds Restricted funds Total fvnds INCOME AND ENDOWMENTS FROM Donations and leg8&&s 16,171 60,985 77,156 Investment income 65 69 Totsl 77,225 EXPENDITURE ON Charitsble activities Conference Growing chtjrches 13,380 13.380 46.584 Total 15,955 44,009 59.964 NET INCOME 220 17.041 17,261 RECONCILIATION OF FUMDS Total fund5 brought forward 2,762 63,271 TOTAL FUNDS CARRIED FORWARD .669 19,803 80.472 CREDITORS: AMOUNTS FALLING DUE WITIIIN ONE YEAR 2024 2023 Other creditors 1.800 720 10. MOVEMENT IN FUNDS Net movement in funds Al 3113124 At 114123 Unrestricted funds General Fund EQUIP Fund Growing Churches Fund 27,768 2.5S2 {5,235) 1451) 22.533 2,101 60,669 {5.686 54.983 Restrictèd fund$ 30s Fund Growing Chyr¢he$ Fund 2.507 17.296 27 6.9661 2.534 10.330 TOTAL FUNDS 80,472 12.625 67,847 Page 8 conbnued...
WALES LEADERSHIP FORUM NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 10. rdJovEMENT IN FUNDS- contlnued Nel movernent in fijnds, induded in the above are 8$ follows: Incoming resources Resources expended Movemonl in lunds Unfestricted funds General Fund EQUIP Fund 8.601 20 {13.836 15,2351 8.621 {14,307) {5.6661 Restrtctsd lunds 30s Fund Growing Churcthes Fund 27 39,642 27 46,6081 39.669 46,608 TOTAL FUNDS 48.290 60.9151 12,625 Comparati$ for movement in funds Not movemènt in funds At 114r22 3113123 Unrestrlcted funds General Fund EQUIP Fund Growing Churches Fund 24,977 2,791 27,768 2,552 2,57 60.449 220 Rgstrlctsd funds 30s Fund Growng ChLtrches Fund 2,502 2,507 17.2 17.036 17.041 TOTAL FUNDS 63.211 80.472 Comparative nel movement in funds, induded in the above are gs follows.. Incoming sour¥*8 R&8ource8 expended Movement ITr tsnds Unrestricted funds General Fund EQUIP Fund Growing Churches Fund 16,171 113,3801 2,791 2.575 16,175 (15.955) 220 Restrlct4d fvnd$ 30s Fund Growing Churches Fvnd 61.045 44,0091 17.036 61,050 17,041 TOTAL FUNDS 77,225 59,964 Page 9 continued...
WALES LEADERSHIP FORUM NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 10. MOVEMENT IN FUNDS- conUnued Designated fund$ The EQUIP Fund is an initiative to help SLtpport, iesource nd 'grassroots' projects or ministries across Wales a$ they Sha the gospel wilh Welsh communtb"es. The GloVg Churches Fund.. a programme set up to id¢nlfy and train lour eath year, for 10 years, each one working wrth 41()cal church in Wales. Re$triCt funds 30s Fund The 30s Fund was a receNed to encourage young people under Ihe age of 30 to attend the Wales Leadership Fijmm conference. Growin Chur This fund relates to spetsfic donations ceiVed towards Growing churches programme, which wa$ sel up lo tdentify and train four each year, for 10 years, each one wor*rng with 8 local church in Vvales. RELATED PARTY DISCLOSURES During the year gifts of £7,000 were receNed from The Deo Gloria Trust. a charity which had a common trusteg. During the wior year a gift of £4,000 was received from Th8 Bridge Churth Cardifl, a charity whtch had 8 common trustee for the relevant part of Ihat financial year. There were no further relatsd paty transath'ons or balances for the year end¢d 31 Marth 2024 or 31 March 2023 requiring disclosu. Page 10