FAITH TV CHARI Charlty Reglstmtlon Numbor. 1189888 Trusteos Annual Report for tha perlod 1st Jun8 2023 to 314t May 2024 Our Alms and Object￿88 Our charity's purposes as set out in Ihe objects contained In the charity constitutlon are to.. Advanc& th8 Christlan falth for the benefil of the public in accordance wlth the statements of Bellef of the charity. In partl¢ular. but not excluslvely. by means of broadcasting messagès of an evangellslSG and teachlng nature, through the use of rallgious radio, te18Vlslon, audlo and vldeo platforms, Int8rnèt. $OC181 media and the written word. Ensuring our work delivers our aims We revlew our alms, objectives and actlvltles each year. Thls revlew looks at whal w8 achleved and the out¢om8s of our work In the previous 12 months. The revlew looks at the success of each k8y activity. The raview also helps us ensure our alm, oblecllves and actlvitiès remalned focused on our stated purposes. We have referred to the guldanc8 contsined in the Charity Commisslon's general guldanc8 on publlc benefll when revlewlng our alm and objectlv8s and in plannlng our future actlvitiès. In partlcular, the Trustees consider how planned aclivitle8 wlll ontrlbute to the alms and oblectlves they have sel. The focus of our work Our main oblectlves for the year continued to be In Ilne with our purpos8s and aims as set out above. The strategles we used to meet these obS8Ctlves I￿luded mainly the appllcatlon of the funding raised from thè general public towards the promotion of the purpose5 and aims of the charity by applying funds towards the broadcast of Ihe gospel of Jesus Chrlst by means of television in the Uniled Kingdom of Chrlstlan television programs. How our activltles dellver publlc benefft All our charitable activities currently focus on the broadcast of the gospel of Jesus Christ by maans of 8ssisling wilh cost relating to the broadeasting on television in the Unlted Klngdom of Christian television programs. Flnanclal Ravlew The level of donations received by the ctiarity currently does not exceed £10 000 per year. Against the backdrop of limited resour￿$, it has continued to be difficult to plan or develop services. Nevertheless, the charity generated revenue from donations for the period amounling to £ 7 932 {2023 £ 4 856). Prlnclpal Funding Sources The principal funding sources for the charity are currently donatlons from the general public. Aslde from retaining a prudent amount in reseNes each year most of the charity's funds are to be spent In the short tsrm so there are few funds for long term Investment. Reserves Policy The Management Committee has examln8d the charity's requlréments for reserves In light of lh8 main rlsks to th6 organisatlon. It has established a policy wh8raby the unrestricted funds not committed or invested in tanglble fixed assets held by the Charity should be utllised for th8 broadcast of Chrlstlan televlslon programs. The charlty does not 8mploy staff and has limlt8d expenses that need to be covered. As a result It Is currently consid8r8d th81 a cons6rvatlve reseN8 policy Is not currently requlred and avallabl8 funds 8hould be applled to the prlncSple purpose and aims to the greatest extent possible, The present level of reserves available to th8 charlty of £522 is therefore acceptable. Plan8 for Futur8 Parlod8 The charSty plans continulng the acllvllle8 Outllned at￿ve In the forthcomlng years suble¢t to satlsfactory funding arrangements. struetur8, Governance and Management Governlng Document The organlsation is a charkable Incorporated organlsalion whose only voting members are Its charlty Trustees. The tharlty was registered on 10 June 2020. Recruitment and AppDinlm8nt of Management Commlttee The ¢harlty Trustees are known as members of the Management Committ88. All members of the Management Committee glve thelr tlme volunlarily and receSved no benefits from the charity. There were no exp8nses re¢laimed from the charity. Trustee Induction and Tralnlng The Trustees are already familiar with the pradical work of the charity. Additionally, any new trustees are invited and encouraged to attend a series of short training sessions using the charity administration information and guidance regarding the responsibilities of charity trustees that is freely available on the webslt6 of the Charity Commission. Ongoing discusslons between the Trust885 assist to familiarise the Trustees with the charity and the context within which it operates. The obligations of Management Commlttae members. The maln documents which set out the operational framewo)k for the charity. Resourcing and the current financial poslllon as set out in th8 latest PLJbllshed accounls. Futurè plans and objectlves. Risk Management The Management Commlttee has conducted a revS8w of the major rlsks to which the charlty Is exposed. Where appropriate, systems or procedures have been established to mitigate the rlsks the charity faces. Intemal control rlsks ar8 mlnimised by the implemenlatlon of procedures for authorlsatlon of all transactlons and projects. These procedures are periodically revlewed to ansure that they continue to meet the needs of the charlty. R8SPOn8lbllltle8 of the Management Cornmltteo The Management Committee prepares financlal statéments for each flnandal year which glve a true and falr view of the state of th8 affalrs of the Charlty as at the balance sheet date and of its incomlng resources and appllcatlon of resources, Including Income and expendlture, for the financial year. In préparlng those financlal statemants, the managem8nt committee should follow best practice and: selÉ¢t sullablo accountlng policies and then apply them conslslently. make judgements and esllmates that are reasonab18 and prudent- and prepare the flnanclal statèments on the golng conc8m basis unless it is not approprlate to assume that the company wlll contlnue on that basls. The Management Committee is responslble for maintaining proper accounllng records whlch dlsclos@ with reasonable accuracy al any time the flnanclal position of the charity. The Management Committee is also responsible for safeguardlng the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Members of the Management Committee Members of the Management Committee. who served during the year and up to the date of thls report were.. Dr Bradley Mark Norman Mr Gregory Nlall Clur Dr Waldo Malan The Trustees certify that". so far as we ar8 aware, there is no relevant audit informallon of which the charity's audilors are unaware. and as the Trustees we have taken all the steps that we ought to have taken in order to make ours81ves aware of any relevant audit information and to establish that the charlty's auditors are aware of that infomiation. Approved by the Management Commlttee on 10 October 2024 and Signed on Ils behalf by: MrGN lur ITrusteo) 15th October 2024 FAITH TV- CHARITY Annual Flnanclal Statements for the year ended 31 May 2024 Published 15 October 2024 Faith TV - Charity Annual Financial Statements for the year ended 31 May 2024 General Informatlon Country of in¢orporation and domicile United Kingdom Type ol charity Charitsble incorporated organisation (CIO) Trustees GNClur Dr B M Norman Dr W Malan Reglstered offlce Unit 2 Sterling Court Mundells Welwyn Garden City AL7 1FT Bankgrs Unity Bank Level of a8$ur8nce Thesè annual flnanclal stalem&nts have been internally compll8d by the Iruslees Faith TV - Charity Annual Financial Ststements for the year ended 31 May 2024 Index Th6 roportg and sialements Set out below Comprtse the annual ffinandal statsments P￿sented to the IruslÈas: Page ststement of Financi21 Position Detalled Income Slatemenl ststemenl of Changes in Equlty Slaiemenl of Cash Flow5 Accounting Polieies The annual flngncS81 statement8 $&t out ort pages 3 10 8, wblch havè b8en prtpared on the golng concern basls, were approved by Ihe Irustaes on 15 October 2024 8nd w8ro slgned on Its ￿half by.. GNC5ur Dr 8 M tltsmian Drwmalan Faith TV - Charity Annual Financial Statements for the year ended 31 May 2024 Statement of Financial Position as at 31 May 2024 2024 2023 Assets Current As5et5 Cash and cash equivalents Total Assets 522 522 5717 5717 Equity and Liabilities Equity Accumulated surplus Total Equity and Liabilitle5 522 522 5717 5717 Faith TV - Charity Annual Financial Statements for the year ended 31 May 2024 Detailed Income Statement 2024 2023 Other in¢ome Gifts and donations 7932 4856 Operating ¢xpen8e8 Bank charges Broadcast costs Consulting fees 127 13000 144 4000 3000 13 127 7144 Deflclt for the yoar 151951 {2 288) Faith TV - Charity Annual Financial Statements for the year ended 31 May 2024 Statement of Changes in Equity Accumulated surplus Total equlty Balance at 01 Jung 2022 8005 8005 DeffGIt for the year Balance at 01 June 2023 Deficit for the year Balance at 31 May 2024 (2 2881 717 {2 2881 5717 15 1951 522 {5 1951 522 Faith TV - Charity Annual Financial Statements for the year ended 31 May 2024 Statement of Cash Flows 2024 2023 Notè{s Cash flows from operating actlvltles Cash used in operations 15 1951 (2 2881 Total cash movement for the year Cash at the beginning of the year Total cash at end of the year 15 1951 5717 (2 2881 8005 522 5717 Faith TV - Charity Annual Financial Statements for the year ended 31 May 2024 Accounting Policies Presentatlon of Annual Financlal Staternents The annual financial statements have b88n prepared in accordance with the International Financial Reporting Standard for Small and Medium-sized Entitles. The annual financial statement5 have been prepared on the historical cost basis. and incorporate the principal accounting policies set out below. They ar8 presented in British Pound Sterling. These accounting policies are Gonsistent wth the previous perlod. 1.1 Slgnlflcant judgemonts and sources of estlmatlon uncèrtalnty In preparing the annual financial ststements. management is required to rnake judgements, estimates and assumptions that affect the amounts represented in the annual financial statements and related disclosures. The estimates and associated assumplions are based on historical experience and other factors that are considered to be relevant. Actual results in the future could differ from these esllmales which may be material to the annual linan¢ial $18teménls. CrillGaljudgement8 In applying accounting poliGi8S Management are required to make critical Judgements in applying accounting pollcles from lime lo lime. The judgements, apart from those Involving estimallons, that have th8 most significant effeGt on the amounts recognlsed In the annual financlal statements, are outlined as follows.. Key sources ofestimatlon uncertalnty The financlal statements do not Include a5$8ts or1Sabilities whose carrylng amounts were delemiined based on eslimatlons for which there Ss a significant ￿sk of material adjustments in th8 following financial year as a result of the key estimation assumptlons. 1.2 Flnanclal InstTumonts Initial m88suremonl Financial Instrumènts are initially measured al thg transaction price Ilncluding transaction ¢o$ls except In th8 initial measuromenl of financial assets and liabllities that are measured at fair value through surplus or deficill unless the arrangement conslitules, in effsct, 8 financing Iransactlon in which case 11 is measured at the present value of the future payments discounted al a market rate of interest for a similar debt instrument. Financi81 instruments at amortised Gosl These Include loans, trade receivables and trade payables. They are subsequently measured al amortlsed cost using the effective interest method. Debt instruments which are classlfied as current assets or current liabilities are measured at the undiseounled amount of the cash expected lo be wceived or pald, unle88 the arrangèment effectively Gonstitutes a financlng transaction. At each reportlng date, the carrying amounts of assets held in this category are reviewed to delermlne whether there is any objective evidence of impalrment. If there is obj'ective evidence, the recoverable amount is estimated and compared with the carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in surplus or defi¢it. 1.3 Revenue Revenue is recognised to the extent that the trust has transferred the significant risks and rewards of ownership of goods to the buyer, or has rendered services under an agrèement provided the amount of revenue can be measured reliably and it is probable that economic benefits associated with the Ir8nsaclion will flow to the trust. Revenue is measured al the fair value of the consideration received or receivable, excluding Value Added Taxation and discounts. Faith TV - Charity Annual Financial Statements for the year ended 31 May 2024 Accounting Policies 1.3 Revenue {contlnued) Donations are recognised, in surplus or dèficit. when thè trust's right to receiv8 payment has been established.