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2024-03-31-accounts

Charity registration number 1182111

NAYBA

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

NAYBA

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees David Westlake
Bonnie Yule-Kuehne
Bishop Dr Wayne Malcolm
Dr Shola Adeaga
Dr Mike Kelly
W Grisham (Appointed 16 May 2023)
Charity number 1182111
Principal address 5 The Square
Bagshot
Surrey
GU19 5AX
Independent examiner Siobhan Glenister, ACA
5 The Square
Bagshot
Surrey
United Kingdom
GU19 5AX

NAYBA

CONTENTS

Page
Trustees report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 15

NAYBA

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

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 NAYBA Charity's CIO Foundation, 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)” (as amended for accounting periods commencing from 1 January 2019).

Objectives and activities

The objectives of the charity are for the public benefit: to advance education, training and development particularly but not exclusively by providing skills and knowledge to church and community leaders and volunteers to enable them to better serve their communities. to promote the efficiency and effectiveness of charitable organisations by: seeking to build the capacity of the christian community through the facilitation of collaborative networks, measuring social and economic impact, promoting best practice and effective use of resources; and the provision of grant funding to facilitate churches and charities in effecting community transformation.

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

Achievements and performance

NAYBA helps local churches around the world better love their neighbours and transform their neighbourhoods. Based on more than a decade of experience in the UK, NAYBA achieves this by:

NAYBA addresses the need increasingly felt by local churches to be more relevant and impactful in their communities by serving people experiencing despair, vulnerability and isolation. Our experience has been that for every local Church we help, 100 beneficiaries are impacted for good. What started in the UK now has a truly global and growing impact.

Financial review

During the period the charity had income resources of £339,330 and a total expenditure of £351,290 resulting in net deficit of £12,054.

It is the policy aim of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level to three month's expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

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.

NAYBA

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management

The Charity is a charitable incorporated organisation.

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

Bonnie Yule-Kuehne Bishop Dr Wayne Malcolm Dr Shola Adeaga Dr Mike Kelly W Grisham (Appointed 16 May 2023)

New trustees are appointed by the existing trustees and serve for five years after which they may put themselves forward for re-appointment. The Trust Deed provides for a minimum of three trustees, to a maximum of nine trustees, with no more than three trustees due for re-appointment in any one year. The Charity Governing document allows the trustees to meet and conduct meetings virtually which the trustees have done this year in line with Government restrictions and recommendations.

NAYBA

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Statement of Trustees responsibilities

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:

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.

The Trustees report was approved by the Board of Trustees.

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.............................. W Grisham Trustee 18-12-2024 Dated: .........................

NAYBA

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF NAYBA

I report to the Trustees on my examination of the financial statements of NAYBA (the Charity) for the year ended 31 March 2024, which are set out on pages 4 to 15.

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 Association of Chartered Accountants, 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:

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.

Siobhan Glenister, ACA

5 The Square Bagshot Surrey GU19 5AX United Kingdom

18-12-2024 Dated: .........................

NAYBA

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
3
250,702
70,000
Charitable activities
4
16,021
-
Other income
5
2,607
-
Total income
269,330
70,000
Expenditure on:
Raising funds
6
23,501
-
Charitable activities
7
245,139
82,650
Total expenditure
268,640
82,650
Net income/(expenditure)
690
(12,650)
Other recognised gains and losses:
Other losses
12
(94)
-
Net movement in funds
596
(12,650)
Reconciliation of funds:
Fund balances at 1 April 2023
15,225
14,900
Fund balances at 31 March 2024
15,821
2,250		 Total
2024
£
320,702
16,021
2,607
339,330
23,501
327,789
351,290
(11,960)
(94)
(12,054)
30,125
18,071		 Total
2023
£
348,787
9,469
146
358,402
-
348,613
348,613
9,789
-
9,789
20,336
30,125

All income and expenditure derive from continuing activities.

NAYBA

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Income funds
Restricted funds
15
Unrestricted funds		 2024
£
7,861
13,998
21,859
(3,788)		 £
18,071
2,250
15,821
18,071		 2023
£
10,000
25,585
35,585
(5,460)		 £
30,125
14,900
15,225
30,125

18-12-2024 The financial statements were approved by the Trustees on ......................... .............................. W Grisham Trustee

FOR THE YEAR ENDED 31 MARCH 2024

NAYBA

NOTES TO THE FINANCIAL STATEMENTS

1 Accounting policies

Charity information

NAYBA was registered as a Charitable Incorporation Organisation on 19 February 2019 and is governed by its constitution formed under an association model.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's CIO Foundation, 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)” (as amended for accounting periods commencing from 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has 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 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

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.

NAYBA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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.

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.

Expenditure is recognised on an accruals basis when incurred. It is reported in the Statement of Financial Activities as follows:

Direct Charitable Expenditure - these are costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

Support costs include other running costs and governance costs. These are incurred by the charity and are necessary to aid and support the running of the charity and are included within expenditure on charitable activities.

All costs are allocated to charitable activities of the SOFA on a basis designed to reflect the use of the resource.

Support Costs relating to a particular fund are allocated directly, others are apportioned on an appropriate basis when applicable. The charity has identified one direct charitable activity.

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.

FOR THE YEAR ENDED 31 MARCH 2024

NAYBA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors 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 creditors 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 creditors 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

NAYBA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

3 Donations and legacies

4
5
6		 Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
Donations and gifts
87,702
-
87,702
Grants receivable
163,000
70,000
233,000
250,702
70,000
320,702
Charitable activities
2024
£
Payment for services
16,021
Other income
2024
£
Other income
2,607
Raising funds
Unrestricted
funds
2024
£
Fundraising and publicity
Other fundraising costs
23,501
23,501		 Total
2023
£
248,787
100,000
348,787
2023
£
9,469
2023
£
146
Total
2023
£
-
-

NAYBA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7 Charitable activities

Staff costs
Communications
Country development
Research and development
Service providers
Team
Contractor costs
Donations
Share of support costs (see note 8)
Share of governance costs (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 2024
£
135,375
9,633
125,438
14,283
13,956
-
-
-
298,685
25,974
3,130
327,789
245,139
82,650
327,789		 2023
£
85,780
24,842
56,945
33,000
80,801
46,108
595
474
328,545
17,848
2,220
348,613
283,513
65,100
348,613

NAYBA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8 Support costs

Support
costs
Governance
costs
£
£
Advertising
-
-
Insurance
1,303
-
Legal and professional fees
7,158
-
Bank Charges
402
-
Subscriptions
1,252
-
General Administration
808
-
Travel Costs
5,051
-
Bad debts
10,000
-
Independent examination fees
-
3,130
25,974
3,130
Analysed between
Charitable activities
25,974
3,130		 2024
£
-
1,303
7,158
402
1,252
808
5,051
10,000
3,130
29,104
29,104		 2023
£
2,346
1,268
14,234
-
-
-
-
-
2,220
20,068
20,068

Governance costs includes payments to the independent examiner of £3,130 (2023- £2,220) for examination fees.

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

10 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
2 1

NAYBA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

10
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2024
2023
£
£
121,245
77,704
9,701
4,968
4,429
3,108
135,375
85,780		 (Continued)
2024
2023
£
£
121,245
77,704
9,701
4,968
4,429
3,108
135,375
85,780
85,780

The key management personnel of the charity comprise of the Trustees and the Chief Executive Officer. The total remuneration of the Chief Executive Officer during the year was £77,710.01 (2023: £77,704).

The number of employees whose annual remuneration was more than £60,000 is as follows:

2024 2023
Number Number
1 -

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12 Other gains or losses

12
Other gains or losses
Unrestricted
funds
2024
£
Foreign exchange gains
94
13
Debtors
2024
Amounts falling due within one year:
£
Other debtors
7,861		 Total
2023
£
-
2023
£
10,000

NAYBA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

14 Creditors: amounts falling due within one year

Other taxation and social security
Other creditors
Accruals and deferred income		 2024
£
466
22
3,300
3,788		 2023
£
-
-
5,460
5,460

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds
Incoming Resources Balance at Incoming Resources Balance at
resources expended 1 April 2023 resources expended 31 March 2024
£ £ £ £ £ £
Benefact 80,000 (65,100) 14,900 70,000 (82,650) 2,250

Benefact

The Benefact funding has enabled NAYBA to support local churches to develop NAYBA Enterprise Hubs at scale to transform local communities by addressing local needs and supporting local people with a focus on those living in areas of deprivation. The funding has also been used to develop a community app for course access and ongoing support.

16 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted funds
Restricted
funds
2024
2024
£
£
Fund balances at 31 March 2024 are
represented by:
Current assets/(liabilities)
1,956
16,115
1,956
16,115		 Total
2024
£
18,071
18,071		 Total
2023
£
30,125
30,125

17 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

FOR THE YEAR ENDED 31 MARCH 2024

NAYBA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18 Outstanding Guarantees Given by the Charity

There were no guarantees given by the charity during the year.

19 Outstanding Debt

There is no outstanding debt at the end of the year which is subject to a charge on the Charity's assets.