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2024-03-31-accounts

ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

TEN THOUSAND GOOD REASONS

CHARITY REGISTRATION NUMBER: 1181816

Castle View Accounting Ltd Ground Floor Offices

53 High Street Arundel West Sussex BN18 9AJ

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

2

TEN THOUSAND GOOD REASONS

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER

CHARITY NUMBER 1181816 DATE OF REGISTRATION 31st January 2019 START OF FINANCIAL YEAR 1st April 2023 END OF FINANCIAL YEAR 31st March 2024 TRUSTEES AT 31ST MARCH 2024 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 Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ

3

TEN THOUSAND GOOD REASONS

TRUSTEES' REPORT

FOR THE YEAR ENDED 31ST MARCH 2024

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:

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:

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:

UK Families & Individuals

TTGR has provided a means of relief through:

Missionaries

TTGR supports three missionaries in India who are facing persecution daily due to their Christian faith but continue to do 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 churches for all in their local community. 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.

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

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

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
2023/24
2022/23
£
£
£
£
41,024
-
41,024
30,102
-
-
-
58
41,024
-
41,024
30,160
39,362
-
39,362
25,606
780
-
780
650
40,142
-
40,142
26,256
882
-
882
3,904
7,663
-
7,663
3,759
8,545
-
8,545
7,663

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.

6

TEN THOUSAND GOOD REASONS BALANCE SHEET ASAT 31ST MARCH 2024 Not• Fi)J9 F￿9 31.Mar-24 31.Mar.23 FIA•d Asw¥ As¥i¥ hi￿$1ments Tgt•l AxgdA15•t CurrMIAM•ls OeblDrs & Pr¢paym•nts Ca$h81 Bènk aTrJ in Hwvj Tolal CLttt•ntA¥•ts 5.049 4.276 ,335 5,N9 4276 4,254 4.059 8,313 780 NETCLIRRENT ASSETS 0.545 8A45 7.663 TOTALASSETS cwr•nl h•t4hb 1.545 7.663 Crgdl•r& Amowds 14ty Ih one NET ASSETS 8.54S 7.663 Fund• vfth•Clwtty Ge￿ra1 Fund8 Resln¢WFw416 8.545 8.$45 7.663 Tol•l Fur 8,54$ •.$45 7,663 PrinEgd NaT*.' SLA￿ LÉ is

TEN THOUSAND GOOD REASONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

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 note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (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.

8

TEN THOUSAND GOOD REASONS

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

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 2024 : None

31st March 2023 : None

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TEN THOUSAND GOOD REASONS

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

3. INCOMING RESOURCES

a) Donations, Grants & Legacies
Gifts & Donations
b) Other Incoming Resources
Refunds		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023/24
2022/23
£
£
£
£
41,024
-
41,024
30,102
41,024
-
41,024
30,102
-
-
-
58
-
-
-
58

4. RESOURCES EXPENDED

a) Cost of Charitable Activities
Activities & Events
Administrative Expenses
Bank Charges
Financial Relief
Foreign Missions
Gifts & Donations
Homeless Support		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2023/24
2022/23
£
£
£
£
3,585
-
3,585
-
-
-
-
200
88
-
88
-
4,108
-
4,108
3,296
14,310
-
14,310
14,576
14,490
-
14,490
5,828
2,781
-
2,781
1,706
39,362
-
39,362
25,606
b) Governance Costs
Independent Examiners Fees
9		 780
-
780
650
780
-
780
650

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TEN THOUSAND GOOD REASONS

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

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-24 31-Mar-23
£ £ £ £
Cash at Bank & in Hand 4,276 -
4,276		 4,059
4,276 -
4,276		 4,059
8. DEBTORS AND PREPAYMENTS
Loans		 Unrestricted
Fund
£
5,049		 Restricted
Fund
£		 TOTAL
31-Mar-24
£
-
5,049		 TOTAL
31-Mar-23
£
4,254
5,049 -
5,049		 4,254
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Independent Examiners Fees		 Unrestricted
Fund
£
780		 Restricted
Fund
£		 TOTAL
31-Mar-24
£
-
780		 TOTAL
31-Mar-23
£
650
780 -
780		 650

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-24
31-Mar-23
£
£
£
£
-
-
-
-
8,545
-
8,545
7,663
-
-
-
-
8,545
-
8,545
7,663

11

TEN THOUSAND GOOD REASONS

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

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.

12

TEN THOUSAND GOOD REASONS

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

Report to the trustees/ members of Ten Thousand Good Reasons on the accounts for the year ended 31st March 2024 set out on pages 6 to 12.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ

Date: 13th January 2025

13