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2021-12-31-accounts

GOOD NEWS for Everyone!

ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2021

REGISTERED CHARITY IN ENGLAND AND WALES (221605) and in SCOTLAND (SC039224)

GOOD NEWS for Everyone!

ANNUAL REPORT AND FINANCIAL STATEMENTS for 2021

CONTENTS

2 GOOD NEWS For Everyone - Annual Report and Financial Statements 2021

NOTICE OF ANNUAL GENERAL MEETING

The Annual General Meeting (AGM) of the members of GOOD NEWS for Everyone! will be held, God willing, on Saturday 3 September 2022.

  1. To receive the Trustees’ Annual Report and audited Financial Statements for the year ended 31 December 2021.

  2. To deal with any competent business, including consideration of any motions of which due notice shall have been given and circulated to members.

  3. The election of a President, Ladies’ President, Vice President, Ladies’ Vice President, Treasurer, Pastoral Support and Ladies’ Pastoral Support, will be undertaken by means of an online voting system as set out in the Constitution.

In order to save time at the AGM would members who wish to raise questions of detail on the report and accounts please write to me and I will reply direct to the member concerned. Only questions of principle, which are matters of concern to the membership as a whole, may be raised from the floor at the AGM.

The minutes of the 2021 AGM can be downloaded from the members’ area of the website www.goodnewsuk.com under ‘Resources’, or obtained from National Office. Approval of these minutes will be asked for at the AGM.

On behalf of the Cabinet.

IAIN J MAIR Executive Director

3 March 2022

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TRUSTEES’ ANNUAL REPORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their annual report and financial statements of the charity for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s constitution, the Charities Act 2011 and the Charities SORP: “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102, applicable in the UK and Republic of Ireland” published in October 2019 ("the Charities SORP (FRS102)").

i. REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS

GOOD NEWS for Everyone!

Registered with the Charity Commission for England and Wales, number 221605, and with the Office of the Scottish Charity Regulator (OSCR), number SC039224.

Registered Office and National Office

Western House 24 George Street Lutterworth Leicestershire LE17 4EE

Telephone: 01455 554241 E-mail: info@goodnewsuk.com Website: www.goodnewsuk.com

The Cabinet and Trustees

The Trustees who have served during the year and since the year end were as follows:

President William E G Thomas Ladies’ President Catherine F Erbetta Vice President Graham J Beckett Ladies’ Vice President Rhoda M Bourne Treasurer Iain L S Gray Pastoral Support David J Killer Ladies’ Pastoral Support Heather J Capper

Region 1 Director Graeme K Simpson
Region 2 Director Philip S Bunting
Region 3 Director Chris N Axelby
Region 4 Director David F Patterson
Region 5 Director Jane E F Mann
Region 6 Director Martin R Hooper
Region 7 Director Susan J Judge
Region 8 Director Richard (Rick) J Hillard
Region 9 Director Graham J Ellis
Region 10 Director T J Ivan Johnston

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The Trustees who retired from the Cabinet during 2021 were:

Ladies’ Vice President Shirley E Hall Region 1 Director David W Andrew Region 5 Director Neil H T Bourne Region 6 Director Handley C D Hammond

At 31 December 2021 the following also served on the Cabinet but was not a Trustee of the Association:

Executive Director

Iain J Mair

The Executive Director reports to the Trustees. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in notes 18 and 20 to the accounts. Trustees are required to disclose all relevant interests and register them with the Executive Director and in accordance with the Association’s policy withdraw from decisions where a conflict of interest arises.

Auditor Bankers UHY Hacker Young The Royal Bank of Scotland plc 14 Park Row 36 St Andrew Square Nottingham Edinburgh NG1 6GR EH2 2YB

Solicitors

Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES

ii. STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Instrument and Constitution

GOOD NEWS for Everyone! (‘the Association’) is governed by its Constitution, as amended in September 2021. It is an unincorporated association, registered with the Charity Commission for England and Wales, number 221605, and with the Office of the Scottish Charity Regulator (OSCR), number SC039224.

Appointment of Trustees

The election of National Officer Trustees (President, Ladies’ President, Vice President, Ladies’ Vice President, Treasurer, Pastoral Support and Ladies’ Pastoral Support) takes place either (i) by means of an online voting system, or (ii) by postal ballot, both of which must be in conjunction with an Annual General Meeting of the Association, or (iii) at an Annual General Meeting of the Association, as directed by the Cabinet. The result of the election, however conducted, is announced at the Annual General Meeting. They are elected for a term of one year and may serve for a maximum of three consecutive terms.

All other Trustees (Regional Directors) take places either (i) by means of an online voting system, or (ii) by postal ballot, both of which must be in conjunction with a Regional Annual General Meeting, or (iii) at a Regional Annual General Meeting,

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as directed by the Cabinet. The result of the election, however conducted, is announced at the Regional Annual General Meeting. They are elected by the members of their respective Regions for a term of three years and may serve for a maximum of two consecutive terms.

Induction and Training of Trustees

Following appointment, each newly elected Trustee receives Induction Training at National Office under the supervision of the Executive Director. As required, further training is provided in the form of Briefing Notes, Charity Legislation publications, invitations to external trustee training events, and other training sessions as necessary.

Management

The management of GOOD NEWS for Everyone! is vested in the Cabinet, consisting of President, Ladies’ President, Vice President, Ladies’ Vice President, Treasurer, Pastoral Support, Ladies’ Pastoral Support and ten Regional Directors. The Executive Director is also a member of Cabinet with a right to speak but not to vote. The Executive Director has operational responsibility to ensure the decisions taken by Cabinet are carried out.

Regions/Branches

The Association is organised into geographical ‘Branches’ and ‘Regions’. Members meet regularly at branch level for Christian fellowship, for prayer and to plan and prepare for the Scripture placements and presentations they undertake throughout the year. Members also visit churches to present a missionary report on the work locally, nationally, and internationally.

Key management personnel remuneration

The pay of the senior management personnel is reviewed annually and normally increased in accordance with average earnings and set at market rates.

Constitution

Following separation from the international Gideon Association, the UK Association applied to register the name GideonsUK as a Trademark, but this was objected to by the international Gideon Association. A Trademark Hearing took place on 22 October 2019. The decision of the Hearing Officer was in favour of the international Gideon Association i.e. the Association’s application to register GideonsUK was refused. GOOD NEWS for Everyone! is the new name of the Association. An amended Constitution, allowing elections to be conducted as described under ‘Appointment of Trustees’ on page 5, including the new name was adopted by members at the 2021 AGM.

iii. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

Charitable Objects

The Objective of GOOD NEWS for Everyone!, as stated in its Constitution, is to introduce others to the Lord Jesus Christ by:

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Activities

The Association is heavily dependent on its members in the branches, who, acting in a voluntary capacity, visit the various institutions into which Scriptures are taken. Members take responsibility for all the administration expenses at national and local level through a proportion of their giving and through the payment of an annual subscription. Donations from Friends of GOOD NEWS for Everyone! and churches are generally raised from church presentations and making the needs known to Friends and other supporters. These donations are used for the purchase (including delivery) of Scriptures unless it is directed by the donor that they may be used for the administration and/or development of the ministry. The Association does not employ a professional fundraiser.

All Scripture funds may be retained by the Association for use in the British Isles or for the purchase of Scriptures worldwide. GOOD NEWS for Everyone! works in partnership with ShareWord Global (formerly Gideons Canada) and Goda Nyheter (formerly Gideons Sweden) to distribute Scriptures in countries around the world. A number of UK members have now participated on ShareWord Global Mission Trips, giving first-hand accounts of how funds are being used in the achievement of the Objective of the Association.

Two members of the National Office staff team, based in Serbia, under the direction of the Executive Director, oversee the development of the work in Eastern Europe. The Association has now been registered in North Macedonia and in Serbia.

A ‘New Name Project’ was undertaken during the year to prepare the Association for the introduction of the new name, covering all areas of the Association’s activities, including rebranding, the preparation of new literature, communication of the new name, bank accounts, videos, etc.

Identifiable Benefits, related to the aims of the charity

Through the distribution of Bibles and/or Testaments in many different walks of life – Schools, Hotels, Hospitals, Universities, Colleges, Prisons, to name just a few examples – GOOD NEWS for Everyone! provides a Book containing an ethical and moral code for society, which gives guidance in life, offers comfort in times of sorrow and loss, inspiration, and deals with many of the issues that people of all ages, nationalities, ethnic and social backgrounds face on a day to day basis.

In placing and presenting Bibles and/or Testaments, the achievement of the Objective of the Association, as stated in its Constitution, which is to introduce others to the Lord Jesus Christ, is often demonstrated through the many letters, emails, and telephone calls of testimony received by National Office, individual members and branches. Many of these testimonies are regularly printed in GOOD NEWS for Everyone! , the official publication of the Association and posted on the Association’s website www.goodnewsuk.com and social media accounts.

The Trustees consider that they have complied with their duties under section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission.

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iv. ACHIEVEMENTS AND PERFORMANCE

The aim of GOOD NEWS for Everyone! is as stated under the ‘Charitable Objects’ paragraph set out above.

Letters, emails and telephone calls received at National Office on a regular basis prove that people in all walks of life benefit from the work of GOOD NEWS for Everyone!. Many such accounts are regularly shared as stated under ‘Identifiable Benefits, related to the aims of the charity’. This is an important measure of the effectiveness of the Association.

Other key measures are obtained:

The COVID-19 pandemic had a significant impact on several aspects of the Association’s activities during 2020 and early 2021 although there has now been an encouraging number of new members recruited and increased Scripture distribution.

Scripture Orders

During 2021 the following amounts of Bibles, Testaments (New Testament, Psalms & Proverbs) and HOPE Gospel magazines were distributed in the British Isles (2020 amounts in brackets):

Bibles 25,585 (21,128) Testaments 495,585 (381,938) Magazines 225,300 (209,698)

Membership Summary

During 2021, 157 new members were recruited (2020: 71), and the total membership at the end of the year was 4,173 (2020: 4,405).

v. FINANCIAL REVIEW

Financial Position

We give God thanks that through the generosity of members, Friends and Churches we have been able to fund our Scripture distribution in the British Isles and provide £1,086,450 for the purchase of Scriptures around the world. Included in this total, £115,687 was used to purchase Scriptures for Eastern Europe.

Investment Powers

The Association maintains its funds in such banking and deposit accounts as are approved by the Cabinet, in accordance with Article 8 of its Constitution. Activities are organised in various funds which are described in the accounts.

Review of Reserves and Reserves Policy

The reserves of the Association are held in the various funds as detailed in the Financial Statements beginning at page 15. The Association's reserves policy and the level of reserves within each fund are reviewed each year having regard to the

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Charity Commission publication CC19, ‘Charity Reserves: building resilience’ (published January 2016), and a forecast of income and expenditure is prepared for the following year. Transfers are made to or from the General Fund to maintain the other unrestricted reserves within the desired limits. Contractual commitments as disclosed in note 13 on page 23 have not been deducted from available reserves as these items will be funded from the Scripture Fund in subsequent periods.

The total amount of funds at 31 December 2021 was £2,562,174 which includes £1,161,813 in a restricted fund, the Scripture Fund. For an explanation of restricted and unrestricted funds please see note 1(g) on page 19. A total of £818,351 is held in four designated funds as described in note 14 on page 23. Branch Administration Funds and Region Administration Funds are the aggregated balances of the unrestricted funds belonging to GOOD NEWS for Everyone! but held locally by 251 branches, the ten Regional Cabinets and the London Scripture Focus Steering Group, to be used for local administration purposes.

The Trustees consider that a reserve equivalent to between four and six months of National Office expenditure should be held in the General Fund. They endeavour to maintain it at this level by adjusting the subscription rates and/or varying, with members’ approval, the percentage allocated to the Fund from members’ gifts. At 31 December 2021 the balance retained in the General Fund was £430,259, which represents approximately six months of budgeted expenditure.

Risk Management

The Trustees regularly undertake a review of the key risks to which the Association is exposed and ensure that systems are in place to mitigate their impact using a detailed Risk Register. This identifies risks covering (1) Governance (2) Operational (3) Financial (4) Environmental, External Factors, Reputation, and (5) Compliance (law and regulations). For each key risk, a member of the Executive Committee is responsible for monitoring progress on actions identified to eliminate or mitigate the risk. A detailed review of the key risks using the Risk Register is undertaken at each meeting of the Cabinet.

Key risks for the charity include (1) potential negative impact from introducing a new name/emblem in the UK as a result of separating from the international Gideon Association, and (2) the impact of COVID-19 pandemic on various aspects of the charity’s activities, including the recruitment of members and the cessation/slowdown of fundraising.

The measures that have been undertaken to address these risks are (1) appropriate legal advice has and will continue to be obtained; and a communication strategy has been implemented to share the new name with Friends, churches and other supporters, establishments where Scriptures are placed, etc. (2) the reforming of the Membership Committee with a renewed focus on the recruitment of members; and new material, specifically aimed at encouraging and promoting the recruitment of members, is being prepared in readiness for the new name of the Association (3) ensuring that we have a broad range of areas from which we raise funds – these include members, Friends of GOOD NEWS for Everyone! and churches.

In addition, there are operational risks that fall within the remit of the Executive Director, with the most significant being (1) the loss of key management. The measures to address this risk are that the systems/processes in place are known by other members of staff to ensure many tasks could be quickly undertaken without handover training, if such a situation arose.

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The Charity Commission had written to the President (letter dated 4 February 2021) concerning regulatory issues that had been raised with them by a former member of the Association. A comprehensive response was provided to the Charity Commission. Following consideration of our response, the Charity Commission advised that it had no further regulatory concerns and that it was satisfied that the trustees are governing the charity in accordance with their duties and responsibilities.

vi. PLANS FOR FUTURE PERIODS

Strategic Operational Objectives

The work of the Finance Committee, Membership Committee, Branch Development Strategic Planning Committee, Schools Working Group and Church Relations Working Group will continue in 2022 to review several areas of the Association’s work, consider what is required to make each area more effective in fulfilling the Objective of the Association, which is to introduce others to the Lord Jesus Christ, and make recommendations to Cabinet.

These committees and working groups will be paying particular attention to the results of an extensive membership survey undertaken in July 2020, the results of which have been analysed by a working group and disseminated to the chairmen of these various committees and working groups.

vii. CONCLUSION

In conclusion, the 17 Trustees of the Cabinet record their deep and sincere thanks to all members, Friends of GOOD NEWS for Everyone!, donors and churches for their faithful prayers and giving during 2021. Through that support many lives have been transformed, to the glory of God.

“Not by might nor by power, but by my Spirit,” says the Lord Almighty. Zechariah 4:6

On behalf of the Cabinet

WILLIAM E G THOMAS President

3 March 2022

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STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Annual 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 & Wales and Scotland 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 period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper 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 Charities (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity’s constitution and bye-laws. 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 are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the Trustees,

WILLIAM E G THOMAS President 3 March 2022

IAIN L S GRAY Treasurer

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF GOOD NEWS FOR EVERYONE

Opinion

We have audited the financial statements of Good News For Everyone (the charity) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statement is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other

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information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement set out on page 11, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section [144/145/151] of the Charities Act 2011 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the charity, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the

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risk of override of controls) and determined that the principal risks were related to inflated revenue and the charity’s net income for the year.

Audit procedures performed included: review of the financial statement disclosures to underlying supporting documentation, review of correspondence with and reports to the regulators, including correspondence with the Charity Commission review of correspondence with legal advisors, enquiries of management and review of internal audit reports in so far as they related to the financial statements, and testing of journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

UHY Hacker Young

Statutory Auditor 14 Park Row Nottingham 29/03/2022 NG1 6GR

UHY Hacker Young is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

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GOOD NEWS For Everyone!

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2021 FOURTH DRAFT, 10 Feb 2022

Unrestricted
Notes
funds
£
Income from:
Donations and legacies
3
1,241,888
Charitable activities:
Sales of member supplies
67,067
National Convention income
-
Investment income
1,039
Total Income
1,309,994
Expenditure on:
Charitable activities:
Scripture distribution
5
914,110
Member supplies
6
200,091
Total expenditure
1,114,201
Net income/(expenditure)
195,793
Transfers between funds
-
Net movement in funds
195,793
Reconciliation of funds:
Total funds
brought forward at 1 January
1,204,568
Total funds
carried forward at 31 December
1,400,361		 Restricted
Total funds
Total funds
funds
2021
2020
£
£
£
1,779,399
3,021,287
2,529,393
-
67,067
70,518
-
-
2,755
2,656
3,695
6,071
1,782,055
3,092,049
2,608,737
1,981,204
2,895,314
2,245,138
-
200,091
205,348
1,981,204
3,095,405
2,450,486
(199,149)
(3,356)
158,251
-
-
-
(199,149)
(3,356)
158,251
1,360,962
2,565,530
2,407,279
1,161,813
2,562,174
2,565,530

There were no recognised gains or losses during the year other than as shown above. All activities are continuing.

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GOOD NEWS For Everyone!

BALANCE SHEET at 31 December 2021 FOURTH DRAFT, 10 Feb 2022

Notes
Fixed assets
Tangible fixed assets
10
Current assets
Stocks
Debtors
11
Cash at bank and in hand
Liabilities
Creditors: amounts falling
due within one year
12
Net current assets
Net assets
16
The funds of the charity
Restricted income funds
15
Unrestricted income funds
14		 £
£
£
£
532,549
543,080
58,944
57,507
183,449
90,791
1,991,630
1,965,489
2,234,023
2,113,787
(204,398)
(91,337)
2,029,625
2,022,450
2,562,174
2,565,530
1,161,813
1,360,962
1,400,361
1,204,568
2,562,174
2,565,530
2021
2020		 £
£
£
£
532,549
543,080
58,944
57,507
183,449
90,791
1,991,630
1,965,489
2,234,023
2,113,787
(204,398)
(91,337)
2,029,625
2,022,450
2,562,174
2,565,530
1,161,813
1,360,962
1,400,361
1,204,568
2,562,174
2,565,530
2021
2020
2,565,530
1,360,962
1,204,568
2,565,530

The accounts were approved and authorised for issue by the Cabinet on 3 March 2022

On behalf of the Cabinet

WILLIAM E G THOMAS President

IAIN L S GRAY Treasurer

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GOOD NEWS For Everyone!

STATEMENT OF CASHFLOWS for the year ended 31 December 2021 FOURTH DRAFT, 10 Feb 2022

Notes
Cash flows from operating activities
Net cash provided by / (used in) operating activities
17
Cash flows from investing activities
Income received from investments (bank deposit interest)
Proceeds from the sale of fixed assets
Purchase of fixed assets
10
Proceeds from maturing bank deposits (see below)
Cash paid into bank deposit accounts
Net cash provided by / (used in) investing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward at 1 January
Cash and cash equivalents at 31 December
Analysis of cash and cash equivalents
Cash and bank deposits repayable on demand
Notice deposits (less than 3 months)
Total cash and cash equivalents at 31 December		 2021
£
24,492
3,695
-
(2,046)
250,000
(250,000)
1,649
-
26,141
1,465,489
1,491,630
1,491,630
-
1,491,630		 2020
£
79,384
6,071
-
(27,216)
251,350
(250,000)
(19,795)
-
59,589
1,405,900
1,465,489
1,465,489
-
1,465,489

Reconciliation to cash at bank and in hand shown on the Balance Sheet

Fixed term bank deposits and notice deposits greater than 3 months:
Balances at 1 January
Matured or withdrawn in the year
New or renewed deposits during the year
Total at 31 December
Total cash and cash equivalents at 31 December (see section above)
Total cash at bank and in hand		 500,000
(250,000)
250,000
500,000
1,491,630
1,991,630		 501,350
(251,350)
250,000
500,000
1,465,489
1,965,489

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GOOD NEWS For Everyone!

NOTES ON THE ACCOUNTS for the year ended 31 December 2021

1 Accounting policies

a Basis of preparation and going concern

The financial statements are prepared under the historical cost convention, and include the results of the Association's operations in fulfilling its charitable objectives, all of which are continuing. They have been prepared in accordance with 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) issued in October 2019 ( "the Charities SORP (FRS102)"), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and any applicable regulations and UK Generally Accepted Practice.

They have been prepared to give a 'true and fair' view, and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view' by following the Charities SORP (FRS102), rather than the previous SORP: Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 (which has since been withdrawn).

The charity constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The financial statements are presented in UK £ sterling, which is the functional currency of the charity.

b Income

Income is recognised when the charity has entitlement to the funds, when any performance conditions attached to the item(s) of income have been met, when it is probable that the income will be received and when the amount can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material (see Note 4).

Membership subscriptions are recognised in full as voluntary income on the date of receipt, on the basis that the separable cost to the Association of fulfilling its related obligations in future periods is relatively small.

Sales of member supplies are recognised when the goods are dispatched.

Investment income (bank deposit interest) is shared between restricted and unrestricted funds in proportion to the average bank balances held in each fund.

In accordance with Article 8 of the Association's Constitution, donations and legacies received from members of the Association are split between the General Fund and Scripture Fund unless designated for the General Fund alone.

c Expenditure

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to an obligation to make a transfer of value to a third party as a result of past transactions or events. Irrecoverable VAT is charged against the expenditure heading in relation to which it was incurred.

Expenditure on Scriptures is recognised when the Scriptures are received. Scriptures printed but not received are included as a contractual commitment.

18 GOOD NEWS For Everyone - Annual Report and Financial Statements 2021

GOOD NEWS For Everyone!

NOTES ON THE ACCOUNTS for the year ended 31 December 2021

1 Accounting policies (continued)

The costs of individual charitable activities, as reported in Notes 5 and 6, are those expenditures directly attributable to the activities described, together with an appropriate apportionment of central support costs. Support costs are allocated on the basis of estimated amounts of staff time devoted to each activity.

d Regions and Branches

An account is maintained at National Office for every Branch and Region in respect of Scripture Fund income, expenditure and balances. These accounts form part of the restricted fund balance shown in the Statement of Financial Activities and on the Balance Sheet.

In addition, each Region and most Branches operate a local administration fund. These funds have a 30 June year end and are incorporated into the Association's accounts for the year ending the following 31 December.

e Stock

Stocks of Scriptures and literature are valued at the lower of cost and net realisable value. In respect of Scriptures intended for branch distributions, realisable value is taken to be the amount that will be deducted from the branch's Scripture Account balance (see 1(d) above) when they are ordered by, and dispatched to, a particular branch.

f Tangible fixed assets and depreciation

Tangible fixed assets costing more than £1,000 are capitalised and included at cost. This includes substantial, new, owned computer software applications but does not include consultancy costs, nor the continuing development of existing applications. No depreciation is provided on the freehold property on the basis that its residual value is believed to be not materially less than the current book value; this is subject to an annual impairment review. Depreciation is provided on other fixed assets at rates calculated to write off the cost less estimated residual value over their expected useful lives as follows:

Freehold land and buildings not depreciated
Office furnishings and fittings 10%
Office equipment 25%
Computer software 25%

g Funds structure

The funds held by the charity are held in one of the following three types of fund:

Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.

Designated funds are funds set aside by the Trustees out of unrestricted general funds for some specified future purpose.

Restricted funds are funds that can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or implied by the charity's methods of operation.

h Pension costs

Pension contributions invested separately from the Association's assets are charged to the Statement of Financial Activities as they are incurred.

2 Taxation

The Association 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.

GOOD NEWS For Everyone - Annual Report and Financial Statements 2021

19

GOOD NEWS For Everyone!

NOTES ON THE ACCOUNTS for the year ended 31 December 2021

3
4		 Donations
2021
2020
£
£
Members (see footnote below)
332,638
355,608
Friends
506,463
461,586
Churches
191,871
171,050
Bible Giving Cards
48,674
47,108
Legacies (see Note 4)
699,753
464,581
1,779,399
1,499,933
Unrestricted funds
Members' subscriptions
457,940
483,759
Allocation from members' giving under Article 8
76,162
79,173
Grants and other donations to the General Fund
124,539
135,096
Allocated to Eastern Europe Fund
139,058
56,000
Legacies (see Note 4)
374,681
173,936
Regions' administration funds
14,065
28,723
Branches' administration funds
55,443
72,773
1,241,888
1,029,460
Legacies
2021
2020
£
£
Legacies given expressly for General purposes
65,936
62,898
Unrestricted legacies allocated to the General Fund
in accordance with Article 8 (see below, and Note 14)
288,908
97,684
Allocated to Schools Ministry Fund
-
-
% allocation from members' legacies, under Article 8
19,837
13,354
374,681
173,936
Restricted funds
Legacies restricted for Scripture Funds
699,753
464,581
Scripture Fund-analysis of donations by source:
Unrestricted funds
General donations from members are allocated between the Scripture Fund and General Fund in
accordance with Article 8 of the Association's Constitution. The percentage allocated to the General Fund
has been 20% from May 2011 to date.		 2020
£
355,608
461,586
171,050
47,108
464,581
1,499,933
1,029,460
2020
£
62,898
97,684
-
13,354
173,936
464,581

Article 8 of the Association's Constitution provides for how legacies from members and Friends of the charity are allocated between Scripture Funds and General Funds, unless the donor instructs otherwise. Legacies from individuals who are not either members or Friends, and whose terms include no directions about their use, are unrestricted funds but the Association has a policy that they will be used for the distribution of more Scriptures around the world, provided the Association's requirements for reserves are met (see Note 14).

At 31 December 2021 the Association had been advised of entitlement to a number of legacies that had not yet been received, or had been received in part. Five of these, amounting to £137,454 not yet received (2020: six estates, £36,137) have been recognised as income in these accounts, in accordance with the criteria set out in the Charities SORP (FRS102), and included in Debtors (see Note 11).

There are a further twelve (2020: twenty) estates in which an interest has been notified but the amount receivable by the Association was not known with sufficient certainty to be recognised as income. Based on the information available, the aggregate amount to be received from these estates is estimated to be between £600,000 and £750,000 (2020: between £230,000 and £300,000).

In addition, the Association has been notified of three bequests to it which are currently subject to a lifetenancy interest. These are not expected to become receivable for a number of years and amount to between £40,000 and £50,000 in total. These amounts have also not been recognised as income.

20 GOOD NEWS For Everyone - Annual Report and Financial Statements 2021

GOOD NEWS For Everyone!

NOTES ON THE ACCOUNTS for the year ended 31 December 2021

5 Costs of charitable activities (Notes 5 and 6):
Scripture Distribution
Payments from the Scripture Fund (restricted income fund):
Production of Scriptures used in the British Isles
Production of Scriptures used in Eastern Europe
Providing Scriptures for international outreach elsewhere
Payments from the General Fund (unrestricted funds):
Apportionment of Support Costs - see Note 7 (90%)		 2021
£
894,754
115,687
970,763
1,981,204
914,110
2,895,314		 2020
£
813,841
-
440,718
1,254,559
990,579
2,245,138

The amount contributed in the year to international outreach elsewhere includes work with ShareWord Global and with selected other organisations. The principal areas of expenditure were Latin America, Africa and Sri Lanka

6
Member Supplies
Direct cost of sales
Directly attributed staff costs
Apportionment of Support Costs - see Note 7 (10%)
7
Support Costs
Staff costs (see Note 8)
Less: staff costs allocated to charitable activities (see Note 6)
Staff travel and accommodation expenses
National Convention and Church Leaders Appreciation Dinner
Recruitment, training and development
Schools project, London
Schools Ministry project
Eastern Europe project
Rates, services and insurance
Repairs and renewals
Postage & telephone
Printing and stationery
Software and website recurring costs
IT development project
Consultancy and IT support
General office expenses
Legal expenses
Cabinet meetings and expenses
Auditors' remuneration (see also Note 19)
Bank charges
Depreciation of owned fixed assets
Regions' administration expenses
Branches' administration expenses
TOTAL SUPPORT COSTS
Divided between the following charitable activities:
Scripture Purchasing and Distribution - 90%
Member Supplies - 10%		 2021
£
75,823
22,700
101,568
200,091
2021
£
431,123
(22,700)
6,116
10,662
59,025
-
7,511
50,458
17,594
19,577
44,879
27,992
43,542
164,939
25,308
9,102
5,761
4,146
12,143
12,570
12,577
942,325
6,644
66,709
1,015,678
914,110
101,568
1,015,678		 2020
£
72,619
22,665
110,064
205,348
2020
£
471,396
(22,665)
13,004
10,096
20,308
3,078
13,168
8,798
15,555
24,660
35,288
15,446
50,897
247,287
26,211
9,570
9,815
16,651
11,994
11,956
26,578
1,019,091
29,201
52,351
1,100,643
990,579
110,064
1,100,643

GOOD NEWS For Everyone - Annual Report and Financial Statements 2021

21

GOOD NEWS For Everyone!

NOTES ON THE ACCOUNTS for the year ended 31 December 2021

7 Support Costs (continued)

The support costs listed above cannot be specifically allocated as costs directly related to any particular activity. They include central management and administration costs as well as certain running expenses that arise from the nature of the Association as a membership organisation. These costs are therefore absorbed between all the charitable activities (see Notes 5 and 6) as support costs, in proportion to the estimated amounts of staff time devoted to each activity.

8
Total staff costs
Wages and salaries paid
Employer's National Insurance costs
Contributions to a defined contribution pension scheme
Less: amounts received from Coronavirus Job Retention Scheme
Other employment costs: death-in-service benefit		 2021
£
367,616
31,551
27,515
-
4,441
431,123		 2020
£
427,867
36,874
32,726
(30,237)
4,166
471,396

The average number of employees during the year was 12 (2020: 13) and the average full-time equivalent number was 10 (2020: 12). There was one employee receiving employee benefits between £80,001 and £90,000 (2020: one between £70,001 and £80,000) during the year.

During 2021 the charity did not claim any support from the government's Coronavirus Job Retention Scheme. In 2020, three employees were furloughed and government support amounting to £30,237 was received, including support for pension and National Insurance contributions.

The figures stated as wages and salaries include termination payments on redundancy, amounting to £nil in 2021 and £14,637 in 2020. There were no amounts relating to this outstanding at the end of the year.

Although the Trustees have overall responsibility for the governance and management of the Association, day-to-day management of its activities is delegated to a management team comprising three people (four during the period before July 2020), including the Executive Director who reports directly to the Trustees. The total employee benefits (including the National Insurance costs) received by the management team amounted to £187,828 (2020: £208,157) with employer's pension contributions of £13,662 (2020: £15,174).

9 Pensions and post-retirement benefits

The Association operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £27,515 (2020: £32,726).

10 Tangible fixed assets
Freehold land
Furnishings
and buildings
& fittings
£
£
Cost
At 1 January 2021
500,000
52,066
Additions
-
-
Disposals
-
-
At 31 December 2021
500,000
52,066
Depreciation
At 1 January 2021
-
34,289
Charge for the year
-
2,591
Eliminated on disposals
-
-
At 31 December 2021
-
36,880
Net book values
At 31 December 2021
500,000
15,186
At 31 December 2020
500,000
17,777		 Office
equipment
£
52,741
2,046
(1,458)
53,329
27,438
9,986
(1,458)
35,966
17,363
25,303		 Computer
software
£
372,031
-
-
372,031
372,031
-
-
372,031
-
-		 Total
£
976,838
2,046
(1,458)
977,426
433,758
12,577
(1,458)
444,877
532,549
543,080

22 GOOD NEWS For Everyone - Annual Report and Financial Statements 2021

GOOD NEWS For Everyone!

NOTES ON THE ACCOUNTS for the year ended 31 December 2021

10 Tangible fixed assets (continued)

All fixed assets are used for the management and administration of the Association.

The freehold property is carried at cost within the terms of the Charities SORP (FRS102). The most recent professional valuation was carried out on 1 November 2012 in accordance with the RICS Valuation Standards - Global and UK (7th Edition), by Roger Chisnall MRICS, RICS Registered Valuer, who is not connected with the charity. He valued the property at a market value of £500,000 on that date. The Trustees are not aware of any material changes in value since that date.

11 Debtors
Amounts falling due within one year:
Sundry debtors
Prepayments
Income Tax recoverable
Accrued legacy income
Other accrued income
12 Creditors
Amounts falling due within one year:
Trade creditors
Taxation and social security
Sundry creditors
Accruals
13 Contractual commitments
to the Association by 31 December
Capital commitments
For Scriptures printed but not invoiced		 2021
£
5,438
25,063
15,117
137,254
577
183,449
2021
£
157,364
9,238
22,962
14,834
204,398
2021
£
607,573
-		 2020
£
8,923
24,873
20,033
36,137
825
90,791
2020
£
57,414
9,739
10,658
13,526
91,337
2020
£
378,319
-

The above commitments are all due within one year.

14 Unrestricted funds
Balance
1 January
£
Premises Fund (designated fund)
500,000
Capital Equipment Fund
(designated fund)
43,080
Eastern Europe Project (designated fund
47,202
Special Projects Fund (designated fund)
100,000
Unrestricted Legacies (designated fund)
-
General Fund
358,690
Region administration funds
16,593
Branch administration funds
139,003
1,204,568		 Incoming
resources
for year
£
-
-
139,058
-
288,908
812,520
14,065
55,443
1,309,994		 Resources
used in
the year
£
-
-
(50,458)
(164,939)
-
(6,644)
(66,709)
(825,451)
(1,114,201)		 Transfers
between
funds
£
-
(10,531)
50,000
164,939
(288,908)
84,500
-
-
-		 Balance
at 31
December
£
500,000
32,549
185,802
100,000
-
430,259
24,014
127,737
1,400,361

GOOD NEWS For Everyone - Annual Report and Financial Statements 2021

23

GOOD NEWS For Everyone!

NOTES ON THE ACCOUNTS for the year ended 31 December 2021

14 Unrestricted funds (continued)

The Premises Fund and the Capital Equipment Fund are designated funds set aside out of the General Fund to reflect the possible cost of replacing the Association's fixed assets. The purpose of this is to ensure that the balance on the General Fund is represented by available liquid resources. The balances on these two funds are normally represented by the book value of fixed assets only, and could only be realised and spent if those assets were sold at their net book values. In 2021 the Capital Equipment Fund has accordingly been reduced by a transfer of £10,531 back into the General Fund, to £32,549.

The Eastern Europe Project designated fund was set up in 2020 to provide for the administration of developing evangelistic outreach and Scripture distribution by the charity and its members, in certain European countries where suitable relationships and opportunities exist. In 2021 the trustees elected to allocate all of the £80,889 proceeds from convention offerings at National Convention and Regional Conventions to this fund, together with three other individual donations amounting to £58,169. At the year end, the trustees decided to allocate an additional £50,000 from General funds, leaving a balance carried foward of £185,802.

The Special Projects Fund exists to facilitate projects to enhance the effectiveness of the ministry which cannot be provided for by the regular budgeted income. Amounts are allocated to this fund at the Trustees' discretion as support becomes available from members' giving. Expenditure on new Finance systems and development of the database and website have been charged to this fund in 2021. £164,939 was transferred from the General Fund into the Special Projects Fund during the year, to leave a balance of £100,000 to carry forward for future projects of a non-recurring nature.

As described in Note 4, unrestricted legacies amounting to £288,908 have been received and have been treated as a designated fund in accordance with the Association's policy. At 31 December 2021, the trustees decided to retain all of this balance in order to sustain the level of reserves at between four and six months of National Office expenditure, as indicated by the Association's reserves policy set out on page 9. The whole amount received has been transferred into the General Fund at the year end.

15 Restricted fund
Scripture Fund		 Balance
1 January
£
1,360,962		 Incoming
resources
for year
£
1,782,055		 Resources
used in
the year
£
(1,981,204)		 Transfers
£
-		 Balance
at 31
December
£
1,161,813

The Scripture Fund represents money received by the Association to be used for Scripture purchases (including delivery), either by branches in the British Isles or internationally. The cost of Scripture distributions reported in the Statement of Financial Activities also includes a reasonable allocation of support costs which are paid out of unrestricted income funds.

16 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
£
Tangible fixed assets
532,549
Stocks
23,832
Debtors
85,306
Cash at bank
808,332
Creditors falling due within one year
(49,658)
1,400,361		 Restricted
funds
£
-
35,112
98,143
1,183,298
(154,740)
1,161,813		 Total
funds
£
532,549
58,944
183,449
1,991,630
(204,398)
2,562,174

24 GOOD NEWS For Everyone - Annual Report and Financial Statements 2021

GOOD NEWS For Everyone!

NOTES ON THE ACCOUNTS for the year ended 31 December 2021

17 Reconciliation of net income/(expenditure) to
net cash flow from operating activities
Net income/(expenditure) for the year as reported on page 15
Adjusted for:
Depreciation charges
Income received from investments
(Profit) / loss on the sale of fixed assets
(Increase) / decrease in stocks
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash provided by / (used in) operating activities		 2021
£
(3,356)
12,577
(3,695)
-
(1,437)
(92,658)
113,061
24,492		 2020
£
158,251
26,578
(6,071)
-
(32,747)
(17,540)
(49,087)
79,384

18 Trustee remuneration and expenses

None of the Trustees, nor any persons connected with them, received any remuneration from the Association during the year. Trustees may claim reimbursement of their expenses in connection with National Cabinet meetings and certain other functions where they represent the Association. In 2021, 12 Trustees received a total of £1,582 (2020: 10 Trustees received a total of £6,594) for their travel, subsistence and accommodation expenses in this connection.

19 Auditors' remuneration

The auditors' remuneration amounts to an audit fee of £10,100 (2020: £9,700) and other services of £nil (2020: £nil). The amounts recognised as an expense within support costs (see Note 7) also include disbursements and irrecoverable VAT.

20 Transactions with related parties

Other than as decribed in Note 18 above, there were no payments to any related parties during the year.

The aggregate amount of donations received from Trustees and persons connected with them amounted to £79,539 (2020: £56,496).

21 Trustee indemnity insurance

The Association, having obtained approval from the Charity Commission in 2003, has purchased 'Trustee Indemnity Insurance' to indemnify its Trustees, officers and employees against claims arising from any act committed in the course of the Association's activities. The cost of this insurance in 2021 was £804 (2020: £563).

22 Operating lease

The Association is bound by a lease agreement running for five years from 2018 until 2023 in relation to office equipment. The amount recognised as an expense in the year in relation to lease payments was £1,214 (2020: £1,214) including irrecoverable VAT. The cost of lease payments due within one year after the balance sheet date is £1,214 (2020: £1,214). The cost of lease payments due between one year and five years after the balance sheet date is £910 (2020: 2,124).

GOOD NEWS For Everyone - Annual Report and Financial Statements 2021

25