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2022-03-31-accounts

Charity registration number 1185137

SPEAK LIFE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

SPEAK LIFE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs Y Ibbett
Mr J Dale
Pastor R Owen
Mr P Bhogal
Mr S Foster
Charity number 1185137
Principal address 13 Lismore Road
Eastbourne
East Sussex
BN21 3AY
Independent examiner M N Preece BA FCA DChA
c/o Price & Company
30-32 Gildredge Road
Eastbourne
East Sussex
BN21 4SH

SPEAK LIFE

CONTENTS

Page
Trustees report 1 - 4
Independent examiner's report 5 - 6
Statement of financial activities 7 - 8
Balance sheet 9
Notes to the financial statements 10 - 24

SPEAK LIFE

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

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 charity's Deeds of Association , 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) (effective 1 January 2019)".

Objectives and activities

Speak Life registered as a CIO in 2019 (charity number 1185137), but was founded in 1952 as ‘The Hour of Revival Association’ (charity number 232509) constitution formalised in writing in 1954 with the following objects:

We are looking to review our mission statement in the summer of 2022. However, at present our mission remains the same, and is centred around:

Our strategic goals for 2021 - 2022 remain focused on:

The trustees have have paid due regard to general guidance on public benefit issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

Media

Speak Life continues to produce captivating media that shares the love of Jesus with the world. Following on from Glen Scrivener's ‘Who are you in the Story?’ (released in Feb 2021) Speak Life facilitated a number of interviews with the likes of Diane Lanberg, Sam Alberry, Lori-Anne Thompson and Lee Furney, which were well received.

A number of shorts were also produced, including Mr Thankful, Christ Mouse and The Night Before Christmas, alongside the introduction of the weekly Speak-easy, which has also been distributed as a Podcast. During 2021-2022 Speak Life content had 659,100 views YouTube and 107,148 downloads of the podcast. Speak Life’s catalogue of media and seasonal resources continues to be used and downloaded by churches worldwide.

Social Media

In March 2022 Speak Life had 25,204 subscribers on YouTube and 18,736 followers on Facebook. Speak Life continues to reach out across YouTube, Facebook and Twitter on a regular basis.

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

SPEAK LIFE

The Foundry

The Foundry, Speak Life’s School of Creative Evangelism, continues to be developed with both a Development Director and Foundry Manager being employed. To compliment Year Out, our 10-month training programme, September 2021 saw the launch of two new streams – Intensives and Unlocked. The Intensives, offered over 4 weeks this academic year, sees creatives gathering together for theological and practical training. Whilst our Unlocked Fridays communicate a Theology for Life and Mission in the morning, with a focus on Stories to win the world during the afternoon.

July 2021 saw us saying goodbye to Rory and Thomas (our Year Out 20-21 students). In September 2021 we welcomed 6 new students onto Year Out. Fifty people accessed the Foundry in 21-22 across the three streams.

Speaking Ministry

Our speaking ministry continued to be affected by COVID restrictions, and there was a need to cancel, postpone or move engagements online. Despite these restrictions Glen and Nate Morgan Locke partnered with churches, universities and missions across the UK, speaking at 58 engagements. Talks are often recorded and shared online.

Speak Life Daily

Containing 31 good news stories from Speak Life and around the world, the SLD continues to be collated and sent out to 1400 subscribers, by either post or email, each quarter (June, Sept, Dec and Mar)

Publications

Glen finished ‘The Air We Breathe’ which will be released in June 2022, and continues to write articles for Evangelicals Now.

321 / 321-Go

321 continues to be a helpful evangelistic resource for churches. Re-filming was once again delayed in 2021-2022 due to the COVID-19 restrictions. As the leading edge of Speak Life, there are outline plans to start re-filming the main components, a series of straight to camera, animations and short films, during 2022-23.

International Giving

Speak Life continues to receive minimal funds for Dan & Suzie Dugmore (YWAM, Blantyre, Malawi) – which has been forwarded on accordingly. We continue to reach out to those that give in this manner, with a view to ceasing our financial involvement.

Speak Life Studios

The Street Pastors continue to make use of the Hub as a prayer space each weekend, and the studios and offices are used throughout our Foundry training, media production and content creation. Further renovations were made to the Foundry workspace during summer 2021.

Data Protection

We take seriously our commitments under the General Data Protection Regulations. In December 2019 as part of our on-going commitment to GDPR compliance - by design and default - we invested in a new data base. We never sell personal data to any third party.

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

SPEAK LIFE

Financial review

We are particularly pleased to report that our financial position remains robust. With the benefit of substantial legacies received this year, our accounts are in surplus, and we hold sufficient reserves to more than fulfil our reserves policy of maintaining the equivalent of 50% of annual expenditure in reserve. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three to six month’s expenditure. The trustees consider 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. A further safeguarding review is currently in progress.

The organisation intends continuing with its current activities – with particular emphasis on evangelism, training and publications - to further meet its objectives in the future.

Structure, governance and management

In September 2019 the Hour of Revival formed a CIO under the name Speak Life, charity number 1185137.

The trustees who served during the year and up to the date of signature of the financial statements were: Mrs Y Ibbett

Mr J Dale Pastor R Owen Mr P Bhogal Mrs C Brindley (Resigned 31 January 2022) Mr S Foster

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Staff (Trustees, Management, Staff & Volunteers)

Mrs C Brindley resigned as trustee in January 2022, when she then commenced a paid role as Foundry Manager.

At the start of the financial year, the following staff were in position: Rev Glen Scrivener (CEO; Ministry Director); Mr Paul Feesey (part-time Associate Evangelist), and Mrs Emily Lynch (Office and Finance Manager). Mr Peter Staley and Mr Max Patterson were retained to provide operational and strategic support and production support respectively.

A number of appointments were made during 21-22, namely; Mrs Mattea Hart as Administrative Support in June; Mr Nate Morgan Locke as Development Director in August; Mr Thomas Thorogood as Production Assistant in September and finally Mrs Christine Brindley as Foundry Manager (see above) in January.

SPEAK LIFE

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Asset cover for funds

While the Charity relies on continuing donations, legacies, covenants and other voluntary income to meet its expenses, the assets held at 31 March 2022 are considered to be adequate for the needs of the Charity.

The trustees r eport was approved by the Board of Trustees.

Mrs Y Ibbett

Trustee Dated: 7 December 2022

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPEAK LIFE

SPEAK LIFE

I report to the trustees on my examination of the financial statements of Speak Life (the charity) for the year ended 31 March 2022.

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 Institute of Chartered Accountants in England and Wales, 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:

SPEAK LIFE

INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF SPEAK LIFE

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.

M N Preece BA FCA DChA

c/o Price & Company 30-32 Gildredge Road Eastbourne East Sussex BN21 4SH

Dated: 8 December 2022

SPEAK LIFE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Unrestricted
Restricted
funds
funds
funds
general d esignated
2022
2022
2022
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
224,033
-
62,136
Charitable activities
4
10,500
-
52,350
Investments
5
173
-
-
Other income
6
9,849
-
473
Total income
244,555
-
114,959
Expenditure on:
Charitable activities
7
263,994
-
30,596
Net (outgoing)/incoming resources before transfers
(19,439)
-
84,363		 Total Unrestricted Unrestricted
Restricted
funds
funds
funds
general d esignated
2022
2021
2021
2021
£
£
£
£
286,169
157,344
-
83,668
62,850
3,000
-
25,800
173
43
-
-
10,322
12,902
-
5,152
359,514
173,289
-
114,620
294,590
159,608
-
56,423
64,924
13,681
-
58,197		 Total
2021
£
241,012
28,800
43
18,054
287,909
216,031
71,878

SPEAK LIFE

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Unrestricted
Restricted
funds
funds
funds
general d esignated
2022
2022
2022
Notes
£
£
£
Net (outgoing)/incoming resources before transfers
(19,439)
-
84,363
Gross transfers between funds
51,219
(1,289)
(49,930)
Net income for the year/
Net movement in funds
31,780
(1,289)
34,433
Fund balances at 1 April 2021
144,578
151,289
41,777
Fund balances at 31 March 2022
176,358
150,000
76,210		 Total Unrestricted Unrestricted
Restricted
funds
funds
funds
general d esignated
2022
2021
2021
2021
£
£
£
£
64,924
13,681
-
58,197
-
130,897
151,289
(16,420)
64,924
144,578
151,289
41,777
337,644
-
-
-
402,568
144,578
151,289
41,777		 Total
2021
£
71,878
265,766
337,644
-
337,644

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

SPEAK LIFE

BALANCE SHEET AS AT 31 MARCH 2022

Notes
Fixed assets
Tangible assets
11
Current assets
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
15
Unrestricted funds - designated
16
Unrestricted funds - general		 2022
£
867
19,771
305,942
326,580
(17,126)		 £
93,114
309,454
402,568
76,210
150,000
176,358
402,568		 2021
£
821
36,757
217,052
254,630
(8,349)		 £
91,363
246,281
337,644
41,777
151,289
144,578
337,644

The financial statements were approved by the Trustees on 7 December 2022

Mrs Y Ibbett Trustee

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Speak Life is a Charitable Incorporated Organisation (CIO) formed by Hour of Revival Association on 1st April 2020. All asset and liabilities were transferred from Hour of Revival on that date. The principal address is 13 Lismore Road, Eastbourne, East Sussex, BN21 3AY.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, 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) (effective 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 have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts 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.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

SPEAK LIFE

1 Accounting policies (Continued)

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.

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.

Income from grants are recognised at fair value when the charity has entitlement after any performance considerations have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

1.5 Expenditure

All expenditure is accounts for on an accruals basis and has been classified under heading that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. All expenditure including support costs and governance costs are allocated or apportioned to the applicable expenditure headings, as noted below.

Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs. The are incurred directly in support of expenditure on the objectives of the Charity. Where the support costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.

Governance costs comprise of all costs involving public accountability of the Charity and its compliance with regulation and good practice. These costs include costs relating to the independent examination of the Charities accounts and legal fees. Where they cannot be directly attributed to particular headings they have been allocated o a basis consistent with the use of the resources.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

SPEAK LIFE

1 Accounting policies (Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% straight line Studio equipment 25% straight line Fixtures, fittings and equipment 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell .

1.9 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.

1.10 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.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

SPEAK LIFE

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.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2022
2022
£
£
Donations and gifts
102,297
62,136
Legacies receivable
121,736
-
Stewardship COVID 19
grant
-
-
224,033
62,136		 TotalUnrestricted
Restricted
funds
funds
general
2022
2021
2021
£
£
£
164,433
124,040
73,668
121,736
33,304
-
-
-
10,000
286,169
157,344
83,668		 Total
2021
£
197,708
33,304
10,000
241,012

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Other grants
Other grants
receivable
receivable
2022
2021
£
£
Performance related grants 62,850
28,800
Analysis by fund
Unrestricted funds - general 10,500
3,000
Restricted funds 52,350
25,800
62,850
28,800

5 Investments

Unrestricted Unrestricted
funds
funds
general
general
2022
2021
£
£
Interest receivable 173
43

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

6 Other income

Unrestricted
Restricted
funds
funds
general
2022
2022
£
£
Net gain on disposal of
tangible fixed assets
419
-
Book sales and royalties
7,060
-
COVID 19 Job Retention
Scheme income
-
473
Insurance repayment
2,370
-
9,849
473		 TotalUnrestricted
Restricted
funds
funds
general
2022
2021
2021
£
£
£
419
-
-
7,060
4,226
-
473
8,676
5,152
2,370
-
-
10,322
12,902
5,152		 Total
2021
£
-
4,226
13,828
-
18,054

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7 Charitable activities

Evangelism
& Mission
2022
£
Staff costs
64,186
Depreciation and impairment
2,420
Books given as gifts
253
Mailshots and Speak Life Daily
14,779
Media and production costs
49,509
Giving and grants
3,960
Other personnel costs
-
Foundry expenses
-
135,107
Share of support costs (see note 8)
48,783
Share of governance costs (see note 8)
2,400
186,290		 Prayer
centre
2022
£
-
401
-
-
-
-
-
-
401
-
-
401		 The
foundry
2022
£
55,579
-
-
-
-
-
-
23,759
79,338
28,561
-
107,899		 Total
2022
Evangelism
& Mission
2021
£
£
119,765
62,758
2,821
2,420
253
99
14,779
12,268
49,509
23,861
3,960
100
-
527
23,759
-
214,846
102,033
77,344
47,993
2,400
2,400
294,590
152,426		 Prayer
centre
2021
£
-
401
-
-
-
-
-
-
401
-
-
401		 The
foundry
2021
£
20,516
-
-
-
6,449
1,315
90
8,634
37,004
26,200
-
63,204		 Total
2021
£
83,274
2,821
99
12,268
30,310
1,415
617
8,634
139,438
74,193
2,400
216,031

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7 Charitable activities (Continued)

Analysis by fund

Unrestricted funds - general
Restricted funds		 156,095
30,195
186,290		 -
401
401		 107,899
-
107,899		 263,994
30,596
294,590		 121,456
30,970
152,426		 -
401
401		 38,152
25,052
63,204		 159,608
56,423
216,031

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

8 Support costs

Support
costs
Governance
costs
£
£
Staff costs
34,905
-
Depreciation
5,037
-
Building costs
25,794
-
Building renovations
-
-
Office costs
4,351
-
Administration costs
3,159
-
Vehicle costs
1,306
-
Travel and board
expenses
-
-
Other personnel costs
2,792
-
Independent
examination fee
-
2,400
77,344
2,400
Analysed between
Charitable activities
77,344
2,400		 2022
Support
costs
Governance
costs
£
£
£
34,905
30,196
-
5,037
2,636
-
25,794
10,415
-
-
290
-
4,351
7,952
-
3,159
25,302
-
1,306
886
-
-
(3,884)
-
2,792
400
-
2,400
-
2,400
79,744
74,193
2,400
79,744
74,193
2,400		 2021
£
30,196
2,636
10,415
290
7,952
25,302
886
(3,884)
400
2,400
76,593
76,593

Governance costs includes payments to the independent examiners of £ 2,400 (2021: £2,400) f or independent 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.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

SPEAK LIFE

10 Employees

The average monthly number of employees during the year was:

Administration and ministry
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2022
Number
5
2022
£
141,431
9,070
4,169
154,670		 2021
Number
3
2021
£
103,280
6,329
3,861
113,470

There were no employees whose annual remuneration was £60,000 or more.

11 Tangible fixed assets

Freehold land
and buildings
Studio
equipment
Fixtures,
fittings and
equipment
£
£
£
Cost
At 1 April 2021
81,516
3,896
11,408
Additions
-
9,031
578
At 31 March 2022
81,516
12,927
11,986
Depreciation and impairment
At 1 April 2021
1,630
974
2,853
Depreciation charged in the year
1,630
3,230
2,998
At 31 March 2022
3,260
4,204
5,851
Carrying amount
At 31 March 2022
78,256
8,723
6,135
At 31 March 2021
79,886
2,922
8,555		 Total
£
96,820
9,609
106,429
5,457
7,858
13,315
93,114
91,363

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

12
Stocks
Finished goods and goods for resale
13
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
Amounts falling due after more than one year:
Other debtors
Total debtors		 2022
£
867
2022
£
18,674
1,097
19,771
2022
£
-
19,771		 2021
£
821
2021
£
34,592
499
35,091
2021
£
1,666
36,757

An interest free loan to the Union School of Theology was transferred over from Hour of Revival on 1st April 2020. This loan is repayable by equal monthly instalments over a 5 year period from the original commencement date in June 2017 and ending in May 2022.

14 Creditors: amounts falling due within one year

Trade creditors
Other creditors
Accruals and deferred income		 2022
£
8,140
2,818
6,168
17,126		 2021
£
4,081
1,161
3,107
8,349

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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:


Staffing - Operations and Strategic
Speak Life Centre
Website
Christmas Projects
Media and Outreach
Other
Staffing - Evangelism
Staffing - Evangelism - JRS
Three-Two-One
Foundry Costs
Interns
Staffing -Foundry
Gifts International
Studio		 Movement in funds
Incoming
resources
Resources
expended
£
£
20,000
(17,290)
-
(401)
26,042
(15,214)
18,681
-
4,531
-
1,465
-
28,230
(18,872)
4,100
-
621
(621)
930
(1,315)
10,000
(2,710)
20
-
-
-
-
-
114,620
(56,423)		 Transfers
Balance at
1 April 2021

£
£
(2,210)
500
23,005
22,604
4,084
-
(18,681)
14,912
(4,531)
-
(5)
20
(9,358)
-
(3,435)
-
-
1,460
2,001
-
(7,290)
665
-
-
-
1,616
-
-
(16,420)
41,777		 Movement in funds
Incoming
resources
Resources
expended
Transfers Revaluations,
gains and
losses
Balance at
31 March 2022
£
£
£
£
£
20,000
(18,600)
-
-
1,900
-
(401)
-
-
22,203
15,000
(8,235)
-
-
6,765
7,286
-
(4,122)
-
18,076
2,075
-
(1,908)
-
167
-
-
-
-
20
8,195
-
(8,195)
-
-
473
-
(473)
-
-
30,697
-
(6,694)
-
25,463
29,392
-
(29,392)
-
-
900
-
(1,565)
-
-
-
-
-
-
-
940
-
(940)
-
1,616
-
(2,420)
2,420
-
-
114,958
(29,656)
(50,869)
-
76,210

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

SPEAK LIFE

16 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds Movement in funds
Balance at Transfers Balance at
1 April 2021 31 March 2022
£ £ £
Operational costs - 6 months 120,000 - 120,000
Filming 321: The Evangelistic Course 30,000 - 30,000
Speak Life App 1,289 (1,289) -
151,289 (1,289) 150,000

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

17 Analysis of net assets between funds

Unrestricted
funds
Designated
funds
Restricted
funds
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented
by:
Tangible assets
69,033
-
24,081
Current assets/(liabilities)
107,325
150,000
52,129
176,358
150,000
76,210		 TotalUnrestricted
funds
Designated
funds
Restricted
funds
2022
2021
2021
2021
£
£
£
£
93,114
69,300
-
22,063
309,454
75,278
151,289
19,714
402,568
144,578
151,289
41,777		 Total
2021
£
91,363
246,281
337,644

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

SPEAK LIFE

18 Related party transactions

There were no disclosable related party transactions during the year .