ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
TEN THOUSAND GOOD REASONS
CHARITY REGISTRATION NUMBER: 1181816
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
TEN THOUSAND GOOD REASONS
CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Pages 4 to 5 | Trustees' Report |
| Page 6 | Statement of Financial Activities |
| Page 7 | Balance Sheet |
| Pages 8 to 12 | Notes to the Financial Statements |
| Page 13 | Independent Examiner's Report |
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TEN THOUSAND GOOD REASONS
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
1181816
DATE OF REGISTRATION 31st January 2019 START OF FINANCIAL YEAR 1st April 2022 END OF FINANCIAL YEAR 31st March 2023 TRUSTEES AT 31ST MARCH 2023 S. Lewis M. Lewis D. Lewis
LEGAL STATUS Unincorporated Charity
GOVERNING INSTRUMENT
Trust Deed as Amended by Special Resolution Dated 30th January 2019
OBJECTS
The prevention or relief of poverty within the UK by providing grants or money, interest free loan or money, items, services or facilities to individuals in need and/or Charities or other organisations working to prevent or relieve poverty. The advancement of the Christian Religion within the UK and outside the UK, Worldwide by raising awareness and understanding of religious beliefs and practices, carrying out religious devotional acts, carrying out and/or supporting or contributing financially towards missionary and outreach work.
CORRESPONDENCE ADDRESS
PRIMARY BANKERS
19 Oakley Road Bordon Hampshire GU35 0JG Lloyds Bank Plc 25 Gresham Street London EC2V 7HN
INDEPENDENT EXAMINERS
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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TEN THOUSAND GOOD REASONS
TRUSTEES' REPORT
FOR THE YEAR ENDED 31ST MARCH 2023
Charity Activities
TTGR’s activities have been carefully planned out giving full consideration to the Charity Commission’s public benefit guidance. Commitment to advance the Christian faith through adhering to the Charity Commission’s guidance on public benefit, specifically for charities for the advancement of religion, TTGR seeks to:
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Carry out religious devotional acts and practices.
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Raise awareness and understanding of all aspects of Christianity throughout the UK and the World.
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Contribute financially towards missionary and outreach work for Christianity.
Interest free loans are subject to the policies set out within TTGR’s policies. These applications are decided upon not only the policy documentation but if this complies with the objects specified and compliance to the Charity Commission’s guidance on public benefit.
All donations from TTGR are tested using the Charity Commissions guidance and the policies and objects of TTGR:
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Providing financial relief.
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Provision of items services or facilities.
Achievements & Performance
Homeless & Needy
There have been many encounters with homeless people in Guildford, Godalming, Reading, Basingstoke, Southampton and Folkstone, (to name a few). Upon talking to people TTGR has been able to discuss Christianity with them and demonstrate God’s love for them by providing:
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Meals and supplies (such as sanitary products).
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Equipment (such as duvets, clothing etc.).
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Paying for sheltered accommodation.
UK Families & Individuals
TTGR has provided a means of relief through:
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Payment of bills.
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Purchasing a car.
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Paying for car repairs.
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Clearing/reducing debt.
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Providing groceries.
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Helping with transportation.
Missionaries
TTGR supports three missionaries in India who are facing persecution daily due to their Christian faith, but continue to God’s work. There have been Churches planted by our brothers in India who are not only Church planting but running Bible Colleges and supporting their students throughout the year with housing and food. There is training and support after graduation to further the ministry.
The Indian missionaries have built a water well for all in their local community after access was denied to any Christians in the local area to the wells owned by the non-Christians. Clothing, bedding, food and medicine has been provided to the poor by missionary workers in India. They have managed to get resources to people who would have otherwise been left to die due to flooding and COVID lockdowns preventing food transportation.
Outreach
Opportunity to bring evangelism to the streets has been successful giving out 100’s of free Bibles and encountering many people interested in hearing the good news of Jesus Christ.
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TEN THOUSAND GOOD REASONS TRUSTEES. REPORT Icontinuedl FOR THE YEAR ENDED 31ST MARCH 2023 TruBtee8' Responslbllltles The Charilfds Act 2011 rwLlres th8 L8$ fKnti31 G131BrnBrs 8a¢h ar which gv8 a true 8ThY f8Y vivw ol the stole ofaffairs ol CY ofllt cl Ihe Cb8nty fr¢ Ihat ITr tte faTrrAal 5latetnenls th8 trust88s are rèwred lo". . Mejutlgemenis and esti18$ Ihai are ¢ea8th1 ar%1 Kmxltrnt . prepa fmantyal statements on wrmj crKtem J)85is unkns is to Ihai the Irusl wlll The Iru8lees are rese Ic¢ leerry rycper XC(thllg record& tw¢h ¢Jtcb#8 vmth reaATh Briurjcy al jny lirre tho financwl tx)wliw ol Ihe Charity. TW we 50 re¥KWtle lor s818gu¥¢iry th8 ass c4 the ctY and hence lor takino $iop8 prv%ntrffi dBteCtl Offroar¥j o¢tw Krogth'lie& 21" Ao&o&T 202.3..................................................................... A[e£l byt1 Tnjslees .. .... on Ihew b8h8llby Trte8..... Prlnled Namw. SIAr4 LE
TEN THOUSAND GOOD REASONS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Other Incoming Resources 3b TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/23 2021/22 £ £ £ £ 30,102 - 30,102 34,089 58 - 58 602 30,160 - 30,160 34,691 25,606 - 25,606 32,801 650 - 650 550 26,256 - 26,256 33,351 3,904 - 3,904 1,340 3,759 - 3,759 2,419 7,663 - 7,663 3,759 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 12 form part of these financial statements.
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TEN THOUSAND GOOD REASONS BALANCE SHEET AS AT 31ST MARCH 2023 Total 31-Mar-23 Total 31-Mar-22 FurM18 Fur Flxed Assets TangikAe Assets Inve51fflenls Total Flxed Curr•nt A•a•ti D8bior8 & PreyMentS C4$h at Bank In H Total CueTht Ass•tA 42S4 4.059 8.Jt3 4.254 4,059 8.313 2.325 4.309 Cr•dllor¥'. AJrK)unts falir¥J duB ar NET CURRENT ASSETS 7.663 3,759 TOTAL ASSETS knBcvrront I8bBI 7.663 7.663 3,7S9 Cr•dllor•'. Amwnls faIn9 dLWJ in than year 10 NET ASSETS 7.863 7.663 3.759 Fundi ol Ih•Charlty Ggneral Fund5 Reslricled Fund 7.663 3,759 Total Fundi 7.863 7.863 3,759 AFproved by I Tru8te88 on .. .. ned lhltsYTl$1ee........ Printèd Nar*'.
TEN THOUSAND GOOD REASONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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TEN THOUSAND GOOD REASONS
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Straight Line Basis
2. TANGIBLE FIXED ASSETS
The CIO held no fixed assets during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st March 2023 : None
31st March 2022 : None
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TEN THOUSAND GOOD REASONS
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gifts & Donations b) Other Incoming Resources Refunds |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/23 2021/22 £ £ £ £ 30,102 - 30,102 34,089 30,102 - 30,102 34,089 58 - 58 602 58 - 58 602 |
|---|---|
4. RESOURCES EXPENDED
| a) Cost of Charitable Activities Administrative Expenses Books & Publications Financial Relief Foreign Missions Gifts & Donations Homeless Support b) Governance Costs Independent Examiners Fees 9 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/23 2021/22 £ £ £ £ 200 - 200 250 - - - 306 3,296 - 3,296 3,920 14,576 - 14,576 25,953 5,828 - 5,828 720 1,706 - 1,706 1,652 25,606 - 25,606 32,801 650 - 650 550 650 - 650 550 |
|---|---|
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TEN THOUSAND GOOD REASONS
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023
5. RESTRICTED FUNDS
The CIO held no Restricted Funds during this or the previous financial period.
6. INVESTMENTS
The CIO held no fixed assets investments during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Fund | Fund | 31-Mar-23 | 31-Mar-22 | |
| £ | £ | £ | £ | |
| Cash at Bank & in Hand | 4,059 | - 4,059 |
1,984 | |
| 4,059 | - 4,059 |
1,984 | ||
| 8. DEBTORS AND PREPAYMENTS Loans |
Unrestricted Fund £ 4,254 |
Restricted Fund £ |
Total 31-Mar-23 £ - 4,254 |
Total 31-Mar-22 £ 2,325 |
| 4,254 | - 4,254 |
2,325 | ||
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Independent Examiners Fees |
Unrestricted Fund £ 650 |
Restricted Fund £ |
Total 31-Mar-23 £ - 650 |
Total 31-Mar-22 £ 550 |
| 650 | - 650 |
550 |
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this or the previous financial period.
11. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Total Funds Funds 31-Mar-23 31-Mar-22 £ £ £ £ - - - - 7,663 - 7,663 3,759 - - - - 7,663 - 7,663 3,759 |
|---|---|
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TEN THOUSAND GOOD REASONS
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023
12. STAFF COSTS AND NUMBERS
The CIO employed no members of staff during this or the previous financial period.
13. TRUSTEES AND OTHER RELATED PARTIES
The only payments made to the Trustees consisted of reimbursements of expenses incurred in furthering the Charity's objects and no direct benefits were received by the Trustees or any related parties during the financial period.
No other payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake
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TEN THOUSAND GOOD REASONS INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Report to th8 truBt88sI rn8rn of Tgn Th)usand Gcod Rea8(MK8 on the accounts for the year end 31st March 2023 set out on pages 6 to 12. R••poctlv• r••PbIlltI• of trust•ts•nd •xamln•r The charivs truste86 afe r8sF4)bk &Yr81Th of tha The thwity'$ tnffjt8es c418r that an audit not raquired lor ihls y•ar uThYar $8Clknn 144 01 the Chprlties Act 2011 (th8 Char16 Actl and that an Ind8penclent ex8mln8tlon L4 n86dad. It 18 my r8Bponsibilty t exami the x£ounts uTh18r 145 ofthé ¢hiiiès lollow pr(lureS (kn in the 9Nen by the Chorty Comml88lon lunder section 14515llbl of the Charibes Act, and state whether parttiJlar mattors hav• e¢ffiè to my attent 6a•l• of Ind•p•nd•nt •xamln•rf• •t•t•m• My examlnatSon was carrf•d In c¢rdowv wilh gewal gi¥en by the CoMrnh6l. An examlnation Includ8s a rgvbw of th¢ OntIng rOrdS kepl by Ihe chartty aThJ a compartson of Ihts accounts presenied those records. It also Sncludes consldofatK)n of Y unusuèl i18ff cff dithuros in the acc¢)unts, and seeking explanations fr¢yn the tru6tee8 concernlryJ any such Matte The prctfjdures uThJert8kan do 1 wovidè all èvid¢8 that would bè requirèd in In audit. Ènd conwuently opinion IB given 88 to thher Kcounts • 'In f•ir' vi•w •nd tho report Ilmlted to those rnatters Set out in the stat•ment tth. Ind•pgnd•nt •x•mln•rf• •lat•m•nt In canntIon with my èxarnination. rK mpttgr has come to my attenth.. which gives me r8a80nable cau8e to Èelie¥e that in any material respect. the Tequlrements.. to keep ac¢wntsng rec{1$ in acdance 1h soctK)rt 130 cl Chariti85 Aet: to prepare account8 whlch aeeord rylh Iha see(nti r•tsxth •¥J c<Knpty Il a¢ox41tyrs roquir•mènt8 of the Chantiej Acl h8v8 not b••n m•t', or to vthlch, In my onknn. attentlon shj drawn kn ¢Nthr to a proper urthrslandlr¥J of the accounts to be ch8d. K C.t)IIAiJ MAAT Castle View AccountlrvJ Lld N•w Bam Mudberry Lang 8osham Chichester West Sussex P018 8TS Dats.. 24th August 2023 13