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2023-07-31-accounts

Charity registration number 1185137

SPEAK LIFE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2023

SPEAK LIFE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs Y Ibbett
Pastor R Owen
Mr P Bhogal
Mr S Foster
Ms S Macaly (Appointed 9 March 2023)
Mr G Albans (Appointed 9 March 2023)
Charity number 1185137
Principal address 13 Lismore Road
Eastbourne
East Sussex
BN21 3AY
Independent examiner G D Message ACA
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 - 25

SPEAK LIFE

TRUSTEES REPORT FOR THE PERIOD ENDED 31 JULY 2023

The trustees present their annual report and financial statements for the period ended 31 July 2023.

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

Founded in 1952 as the ‘The Hour of Revival Association’ (charity number 232509) Speak Life registered as a CIO in 2019 (charity number 1185137).

The Charity’s objective is the advancement of the Christian faith, through (but not exclusively through):-

Speak Life looks to captivate church and world with the love of Jesus. We;

The trustees 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

Raising our voice in Christ-centred proclamation, through preaching, writing, and media

Speak Life continues to look at all of life through the lens of Jesus; producing hundreds of videos across its two YouTube channels. For the 16-month period 01 April 2022 until 31 July 2023, Speak Life had 1.4m views, 220,300 watch hours and increased its subscribers by 9,800.

The most viewed video – ‘Is Revival Happening in Asbury?’ - received 429,832 views. Other notable videos were ‘Can We Have Western Values Without Christianity?’ - an interview with Konstantin Kisin and ‘Louise Perry on the Case Against the Sexual Revolution’. Our back catalogue of videos continued to serve people, with Mr Thankful gaining a further 20,000 views.

At July 2023 Speak Life had 18,943 followers on Facebook. Speak Life continues to reach out across YouTube, Facebook and Twitter on a regular basis.

Speak Life invested significant time rewriting, reshooting and editing 321. 321 will be launched during the next financial period as Speak Life’s lead evangelistic tool, looking to provide the world with a digital selfserve introduction to life according to Jesus.

SPEAK LIFE

TRUSTEES REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

‘The Air We Breathe’ was published in May 2022 and sold over 26,000 copies between July 2022 and July 2023. It provided much interest, with CEO, Glen Scrivener, being asked to join various conversations both in person and online. Glen also spent time working on his next book ‘How to See Life; A Guide in 321’ which is due for release in 2024. Glen continues to write articles for Evangelicals Now and the Keller Centre.

Nate Morgan Locke, Creative Director, and Glen Scrivener, CEO and Ministry Director, have continued to proclaim the Good News of Jesus. Speaking at 121 missions and engagements, online and in person, over the 16-month period. Including speaking for the All-Souls Christmas Choir Concert, covered by The One Show; and locations across the world including New York, Nashville, Scotland, Wales and Northern Ireland.

Speak Life continues to produce the Speak Life Daily, which shines a light on good news stories from both Speak Life and mission minded organisations across the world. It is sent out to 1391 subscribers by either post or email, each quarter (June, Sept, Dec and Mar).

Raising up and train creative communicators of God’s love

The Foundry, Speak Life’s School of Creative Evangelism, said goodbye to 6 Year Out students in July 2022. We ran two Intensive weeks, in September 22 and January 23, which saw people access training and build community at our Eastbourne studios. The Year Out was in a fallow year, however we took this time to hone the curriculum and student experience, and recruited 3 students for the September 2023 intake.

Raising a banner for partnering with mission-minded churches

We love to see God's people united; Our Operations Director and Communications Manager have been reaching out to develop both an Ops and Comms group. This is a place for operational or comms staff from mission-minded organisations to gather together to support and encourage one another. These are proving to be most fruitful. The Eastbourne Street Pastors continue to make use of the Lounge as a prayer space each weekend.

Data Protection

We take seriously our commitments under the General Data Protection Regulations. Our Privacy Notice can be found on our website.

Designated funds

Previously the reserves policy had been to maintain a designated fund of six months' operating costs. The trustees have reviewed this and have agreed that the policy is now to ensure that unrestricted reserves are kept at a level of between three to six months’ budgeted expenditure. Therefore the £120,000 currently designated to the reserve fund will be reincorporated back into the unrestricted funds.

As Speak Life is in a period of growth, the £30,000 designated to 321 will be reincorporated back into the unrestricted funds. This will enable Speak Life to best utilise funds for recruitment of a 321 Product Manager and invest in marketing.

This will reduce designated funds to zero.

TRUSTEES REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

SPEAK LIFE

Financial review

We are pleased to report that our financial position remains robust. Our planned financial investment in 321 has been delayed until the 23-24 financial year. This, coupled with the benefit of substantial legacies and grants being received, has resulted in only a small deficit this year. We continue to hold sufficient reserves to more than fulfil our reserves policy. 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 months' 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 period. We see the unrestricted funds, in excess of the reserved funds, as funding for the planned growth of the ministry; for example, recruitment of additional staff – such as the Marketing and Communications Manager (joined in March 2023) and a Product Manager for the 321 evangelistic course - and investment in marketing of 321.

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.

The organisation intends continuing with its current activities – with particular emphasis on promoting 321, creating online content and increasing engagement with its supporters - to further meet its objectives in the future.

Structure, governance and management

The trustees who served during the period and up to the date of signature of the financial statements were:

Mrs Y Ibbett Mr J Dale (Resigned 6 September 2023) Pastor R Owen Mr P Bhogal Mr S Foster Ms S Macaly (Appointed 9 March 2023) Mr G Albans (Appointed 9 March 2023)

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)

At the start of the financial year seven staff (5.25 FTE) were employed, with Rev Glen Scrivener continuing on as CEO and Ministry Director. During the 16-month period there were three staff additions - to the roles of Operations Director (May 2022), Admin Assistant (November 2022) and Marketing and Communications Manager (March 2023), with 1 member of staff leaving our employment. As of the 31[st] July 2023 nine staff (7.3 FTE) were employed by Speak Life.

SPEAK LIFE

TRUSTEES REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

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 July 2023 are considered to be adequate for the needs of the Charity.

The trustees report was approved by the Board of Trustees.

Mrs Y Ibbett

Trustee Dated: 26 March 2024

SPEAK LIFE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPEAK LIFE

I report to the trustees on my examination of the financial statements of Speak Life (the charity) for the period ended 31 July 2023.

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.

G D Message ACA

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

Dated: 26 March 2024

SPEAK LIFE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE PERIOD ENDED 31 JULY 2023

Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
Notes
£
£
£
Income and endowments from:
Donations and legacies
2
350,947
-
33,282
Charitable activities
3
19,100
-
72,500
Investments
4
1,749
-
-
Other income
5
32,916
-
-
Total income
404,712
-
105,782
Expenditure on:
Charitable activities
6
393,704
-
121,829
Net incoming/(outgoing) resources before transfers
11,008
-
(16,047)		 Total
Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2022
2022
2022
£
£
£
£
384,229
224,033
-
62,136
91,600
10,500
-
52,350
1,749
173
-
-
32,916
9,849
-
473
510,494
244,555
-
114,959
515,533
263,994
-
30,596
(5,039)
(19,439)
-
84,363		 Total
2022
£
286,169
62,850
173
10,322
359,514
294,590
64,924

SPEAK LIFE

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE PERIOD ENDED 31 JULY 2023

Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
Notes
£
£
£
Net incoming/(outgoing) resources before transfers
11,008
-
(16,047)
Gross transfers between funds
143,984
(150,000)
6,016
Net income/(expenditure) for the period/
Net movement in funds
154,992
(150,000)
(10,031)
Fund balances at 1 April 2022
176,358
150,000
76,210
Fund balances at 31 July 2023
331,350
-
66,179		 Total
Unrestricted Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2022
2022
2022
£
£
£
£
(5,039)
(19,439)
-
84,363
-
51,219
(1,289)
(49,930)
(5,039)
31,780
(1,289)
34,433
402,568
144,578
151,289
41,777
397,529
176,358
150,000
76,210		 Total
2022
£
64,924
-
64,924
337,644
402,568

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

All income and expenditure derive from continuing activities.

SPEAK LIFE

BALANCE SHEET AS AT 31 JULY 2023

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		 2023
£
3,391
12,407
308,599
324,397
(13,110)		 £
86,242
311,287
397,529
66,179
-
331,350
397,529		 2022
£
867
19,771
305,942
326,580
(17,126)		 £
93,114
309,454
402,568
76,210
150,000
176,358
402,568

The financial statements were approved by the Trustees on 26 March 2024

Mrs Y Ibbett Trustee

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2023

SPEAK LIFE

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 Reporting period

The financial statements are presented for a period of 16 months, to allow the financial year to better align with the annual operational costs and give greater insight when planning new projects. Therefore the comparative amounts presented in the financial statements (including the related noted) are not entirely comparable.

1.2 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 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.

1.3 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.

1.4 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

SPEAK LIFE

1 Accounting policies (Continued)

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.

1.5 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.

1.6 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 on a basis consistent with the use of the resources.

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

1 Accounting policies (Continued)

1.7 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.

1.8 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).

1.9 Stocks

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

1.10 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.

1.11 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.

1.12 Retirement benefits

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

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

2 Donations and legacies

Unrestricted
Restricted
funds
funds
general
2023
2023
£
£
Donations and gifts
270,806
33,282
Legacies receivable
80,141
-
350,947
33,282		 Total Unrestricted
Restricted
funds
funds
general
2023
2022
2022
£
£
£
304,088
102,297
62,136
80,141
121,736
-
384,229
224,033
62,136		 Total
2022
£
164,433
121,736
286,169

3 Charitable activities

Other grants
Other grants
receivable receivable
2023 2022
£ £
Performance related grants 91,600 62,850
Analysis by fund
Unrestricted funds - general 19,100 10,500
Restricted funds 72,500 52,350
91,600 62,850

4 Investments

Unrestricted Unrestricted
funds funds
general general
2023 2022
£ £
Interest receivable 1,749 173

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

5 Other income

Unrestricted Unrestricted
Restricted
funds
funds
funds
general
general
2023
2022
2022
£
£
£
Net gain on disposal of tangible fixed assets
-
419
-
Book sales and royalties
32,916
7,060
-
COVID 19 Job Retention Scheme income
-
-
473
Insurance repayment
-
2,370
-
32,916
9,849
473		 Total
2022
£
419
7,060
473
2,370
10,322

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

6 Charitable activities

Evangelism
& Mission
Admin &
Operations
2023
2023
£
£
Staff costs
138,537
6,035
Depreciation and impairment
3,760
-
Books given as gifts
1,585
-
Mailshots and Speak Life Daily
20,644
-
Events and conferences
3,072
-
Media and production costs
45,117
-
Giving and grants
12,982
-
Other costs
45
10,000
Foundry expenses
-
-
225,742
16,035
Share of support costs (see note 7)
114,069
-
Share of governance costs (see note 7)
2,400
-
342,211
16,035		 Prayer
centre
2023
£
-
535
-
-
-
-
-
-
-
535
-
-
535		 The
foundry
2023
£
98,620
-
-
-
-
-
-
-
7,959
106,579
50,173
-
156,752		 Total
2023
Evangelism
& Mission
2022
£
£
243,192
64,186
4,295
2,420
1,585
253
20,644
14,779
3,072
-
45,117
49,509
12,982
3,960
10,045
-
7,959
-
348,891
135,107
164,242
48,783
2,400
2,400
515,533
186,290		 Prayer
centre
2022
£
-
401
-
-
-
-
-
-
-
401
-
-
401		 The
foundry
2022
£
55,579
-
-
-
-
-
-
-
23,759
79,338
28,561
-
107,899		 Total
2022
£
119,765
2,821
253
14,779
-
49,509
3,960
-
23,759
214,846
77,344
2,400
294,590

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

6 Charitable activities (Continued)

Analysis by fund

Analysis by fund
Unrestricted funds - general
Restricted funds		 236,952
105,259
342,211		 -
16,035
16,035		 -
535
535		 156,752
-
156,752		 393,704
121,829
515,533		 156,095
30,195
186,290		 -
401
401		 107,899
-
107,899		 263,994
30,596
294,590

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

7 Support costs

Staff costs
Depreciation
Building costs
Office costs
Administration costs
Vehicle costs
Other personnel costs
Independent
examination fee
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
94,792
-
7,987
-
34,416
-
13,112
-
6,426
-
4,421
-
3,088
-
-
2,400
164,242
2,400
164,242
2,400		 2023
£
94,792
7,987
34,416
13,112
6,426
4,421
3,088
2,400
166,642
166,642		 Support
costs
Governance
costs
£
£
34,905
-
5,037
-
25,794
-
4,351
-
3,159
-
1,306
-
2,792
-
-
2,400
77,344
2,400
77,344
2,400		 2022
£
34,905
5,037
25,794
4,351
3,159
1,306
2,792
2,400
79,744
79,744

Governance costs includes payments to the independent examiners of £2,400 (2022: £2,400) for independent examination fees.

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

9 Employees

The average monthly number of employees during the period was:

Administration and ministry
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
8
2023
£
309,172
19,816
8,996
337,984		 2022
Number
5
2022
£
141,431
9,070
4,169
154,670

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

10 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 Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

11
Tangible fixed assets
Freehold land
and buildings
Studio
equipment
Fixtures,
fittings and
equipment
£
£
£
Cost
At 1 April 2022
81,516
12,927
11,986
Additions
-
5,410
-
At 31 July 2023
81,516
18,337
11,986
Depreciation and impairment
At 1 April 2022
3,260
4,204
5,851
Depreciation charged in the period
2,174
6,112
3,996
At 31 July 2023
5,434
10,316
9,847
Carrying amount
At 31 July 2023
76,082
8,021
2,139
At 31 March 2022
78,256
8,723
6,135
12
Stocks
2023
£
Finished goods and goods for resale
3,391
13
Debtors
2023
Amounts falling due within one year:
£
Other debtors
8,073
Prepayments and accrued income
4,334
12,407		 Total
£
106,429
5,410
111,839
13,315
12,282
25,597
86,242
93,114
2022
£
867
2022
£
18,674
1,097
19,771

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

14 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
4,464
5,366
3,280
13,110		 2022
£
8,140
2,818
6,168
17,126

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

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:

purposes:
Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources **Transfers ** Revaluations, Balance at
1 April 2021 resources expended 1 April 2022 resources expended gains and 31 July 2023
losses
£ £ £ £ £ £ £ £ £ £
Staffing - Operations and
Strategic 500 20,000 (18,600) - 1,900 - (1,900) - - -
Speak Life Centre 22,604 - (401) - 22,203 - (535) - - 21,668
Website - 15,000 (8,235) - 6,765 - (6,765) - - -
Christmas Projects 14,912 7,286 - (4,122) 18,076 80 (666) - - 17,490
Media and Outreach - 2,075 - (1,908) 167 39,104 (39,271) - - -
Other 20 - - - 20 25 (45) - - -
Staffing - Marketing - 8,195 - (8,195) - 16,679 (14,470) - - 2,209
Staffing - Evangelism - JRS - 473 - (473) - - - - - -
Three-Two-One 1,460 30,697 - (6,694) 25,463 7,775 (20,613) - - 12,625
Foundry Costs - 29,392 - (29,392) - - - - - -
Interns 665 900 - (1,565) - - - - - -
Gifts International 1,616 940 - (940) 1,616 1,213 (2,406) - - 423
Studio - - (2,420) 2,420 - - (3,227) 3,227 - -
Fire Safety Installation - - - - - 10,000 (10,000) - - -
Staffing - Admin - Marketing - - - - - 8,500 (6,035) - - 2,465
Three-Two-One -
Development - - - - - 2,739 (2,739) - - -
Three-Two-One - Production - - - - - 6,202 (1,814) - - 4,388

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

15 Restricted funds (Continued)

Three-Two-One - Learnworlds
Writing
Equipment		 -
-
-
41,777		 -
-
-
114,958		 -
-
-
(29,656)		 -
-
-
(50,869)		 -
-
-
76,210		 5,543
(2,495)
7,923
(7,923)
-
(926)
105,783
(121,830)		 -
-
2,789
6,016		 -
-
-
-		 3,048
-
1,863
66,179

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

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:

Balance at
1 April 2021
£
Operational costs - 6 months
120,000
Filming 321: The Evangelistic Course
30,000
Speak Life App
1,289
151,289		 Movement in funds
Transfers
Balance at
1 April 2022
Transfers
Balance at
31 July 2023
£
£
£
£
-
120,000
(120,000)
-
-
30,000
(30,000)
-
(1,289)
-
-
-
(1,289)
150,000
(150,000)
-		 Movement in funds
Transfers
Balance at
1 April 2022
Transfers
Balance at
31 July 2023
£
£
£
£
-
120,000
(120,000)
-
-
30,000
(30,000)
-
(1,289)
-
-
-
(1,289)
150,000
(150,000)
-
-

The trustees have reviewed the previous designated funds policy and have agreed that the policy is now to ensure that unrestricted reserves are kept at a level of between three to six months’ budgeted expenditure. This will reduce designated funds to zero.

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

17 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Designated
funds
Restricted
funds
2023
2023
2023
£
£
£
Fund balances at 31 July 2023 are represented
by:
Tangible assets
64,857
-
21,385
Current assets/(liabilities)
266,493
-
44,794
331,350
-
66,179		 Total Unrestricted
funds
Designated
funds
Restricted
funds
2023
2022
2022
2022
£
£
£
£
86,242
69,033
-
24,081
311,287
107,325
150,000
52,129
397,529
176,358
150,000
76,210		 Total
2022
£
93,114
309,454
402,568

SPEAK LIFE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JULY 2023

18 Related party transactions

There were no disclosable related party transactions during the period.