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2022-03-31-accounts

Reference and administrative
information.		 Reference and administrative
information.
Report ofthe Council.
Independent
auditor's		 report. . .15
Statement offinancial activities 2022 .18
Statement
of fina nciai		 activities 2021 .19
Balance sheet. . .20
Statement
ofcash flows.		 .21
Notes to the financial statements. .22

Registered name: Bible Reading Fellowship Bible Reading Fellowship (also known (also known as 'BRF')
Charity registration number: 233290
Company registered number: 301324
Registered office: 19The Chambers, Vineyard, Abingdon OX143FE
Vice presidents; Mrs A Donald
Lord Green of Hurstpierpoint
Canon
Dr G Lings
Rt Revd SPlatten
Rt Revd TThornton (retired September 2021)
Rt Revd
M Turnbull
Mrs A Persson (appointed July 2021)
Council/ trustees: Rt Revd C Fletcher OBE (Chair)
Canon
Dr C Baxter		 CBE(Vice Chair)
Mrs J Agg
Mr A J Barton

Risk Mitigating
action
Voluntary income Negative macro-economic
factors		 further Raising the profile of BRFand its vision;
limiting sources ofvoluntary income to additional
investment
in the fundrai~ing
support charitable
activities.		 team; continuing
development
of a major
gifts programme.
Finding
new streams
such as merchandising
and text giving.
Income from sales of Competitive
market for Bible		 reading notes, Development
of a range ofroutes
resources as well as continued
pressures		 on the to reach end users; sponsorship
of new
Christian bookshop
market,
leading to a		 p rod ucts.
reduction in income.
Costs Rising and sustained
inflation		 leading to cost Working with suppliers
and performing
increases. tenders where appropriate.
Looking at
non-salary
benefits.
Staff Loss ofknowledge
and interruption		 to the Business continuity
planning;
articulation
business through
staff leaving		 and the of BRF's core values as an organisation
challenge ofrecruiting
suitable		 candidates and embedding
these within
its day-to-
to fill vacant and new positions. day operations.
Reputation Negative reaction to one or more ofour Implementation
and regular
review of
ministries (including
ministries		 that interact policies and procedures,
including
with children),
publications
or fundraising		 safeguarding
and volunteer
agreements;
campaigns. Continuing
Professional
Development
(CPD) programme
for freelancers
working
with churches; complaints
procedure;
ability to respond
swiftly
in the event of a
problem
arising. Membership
ofthe
Chartered
Institute of Fundraising.
Data Loss ofpersonal data, including sensitive Continual
improvement
programme
on
data and data processed through fundraising the handling
ofpersonai data; registration
activities; risk ofcyberattack. with appropriate
regulators
such as cyber
essentials
and CPD by staff members;
IT
controls
in place and cyber insurance.

Notes Unrestricted Restricted 2022 2021
funds funds total total
f f f f
Income from:
Donations
and legacies
Donations 382,284 209,305 591,589 570,890
Grants 33,007 569,266 602,273 747,619
Legacies 146,058 146,058 4,207
Charitable
activities
Working with indwiduals
and churches 49,711 751,352 801,063 781,596
Working with primary
schools 105
Investments
Interest received 13,686 9,806 23,492 14,151
Total income 624,746 1,539,729 2,164,475 2,118,568
Expenditure
on:
Raising funds 128,103 129,717 257,820 232,009
Charitable
activities		 369,083 1,430,680 1,799,763 1,712,275
Total expenditure 497,186 1,560,397 2,057,583 1,944,284
Net income/(expenditure)
before investment gains 127,560 (20,668) 106,892 174,284
Gain/(loss)
on investment		 12 (20,328) (20,328) 156,847
Net income/(expenditure) 107,232 (20,668) 86,564 331,131
Transfers
between
funds		 18 (5,269) 5,269
Net movement
in funds		 8 101,963 (15,399) 86,564 331,131
Reconciliation
offunds
Total funds brought
forward		 2,057,806 87,012 2,144,818 1,813,687
Total funds carried forward 2,159,769 71,613 2,231,382 2,144,818

Notes Unrestricted Restricted 2021
funds funds Total
E f f
Income from:
Donations
and legacies
Donations 372,700 198,190 570,890
Grants 191,425 556,194 747,619
Legacies 4,207 4,207
Charitable
activities
Working
with individuals
and churches 745,641 35,955 781,596
Working
with primary
schools 105 105
Investments
Interest received 14,151 14,151
Total income 1,328,124 790,444 2,118,568
Expenditure
on:
Raising funds 112,362 119,647 232,009
Charitable
activities		 977,640 734,635 1,712,275
Total expenditure 1,090,002 854,282 1,944,284
Net income
/ (expenditure)
before investment gains 238,122 (63,838) 174,284
Gain on investment 12 156,847 156,847
Net income
/ (expenditure)		 394,969 (63,838) 331,131
Transfers between funds (92,572) 92,572
Net movement
in funds		 302,397 28,734 331,131
Reconciliation
offunds
Total funds brought
forward 1,755,409 58,278 1,813,687
Total funds carried forward 2,057,806 87,012 2,144,818

BALANCE SHEET
AS AT 31MARCH 2022
2022 2021
now f f
Fixed assets
Tangible assets
Investments		 11
12		 388,825
901,223		 410,239
921,551
1,290,048 1,331,790
Current assets
Stocks 13 86,950 115,707
Debtors 14 179,817 163,486
Cash at bank and in hand 1,013,020 808,150
1,279,787 1,087,343
Creditors: amounts falling due within one year 15 321,967 261,596
Net current assets 957,820 825,747
Total assets less current liabilities 2,247,868 2,157,537
Creditors: amounts falling due after more than one year 16 16,486 12,719
Net assets 2,231,382 2,144,818
Charity funds
Restricted
funds		 17 71,613 87,012
Unrestricted funds 18 1,569,938 1,447,364
Designated
funds		 589,831 610,442
Total charity funds 2,231,382 2,144,818

2022 2021
Notes f f
Cash flows from operating
activities
Net income/(expenditure)
for the reporting		 period 86,564 331,131
Adjustments
to cash flows from non-cash		 items
Depreciation 11 37,654 34,286
Realised
(gain) on disposal of investments		 12 (11,357)
Unrea(ised
(gain)/loss
on revaluation		 of investments 12 20,328 (145,490)
144,546 208,570
Working capital adjustments
Decrease/(increase)
in stock and work		 in progress 13 28,757 37,088
Decrease/(increase)
in debtors		 14 (16,331) 19,272
(Decrease)/increase
in creditors		 15 64,138 (5,795)
Net cash flow from operating
activities		 221,110 259,135
Cash flows from investing
activities
Payments
for tangible assets		 11 (16,240) (64,285)
Sale proceeds ofinvestments 12 107,841
Net cash flow used
in investing
activities		 (16,240) 43,556
Net increase
in cash and cash equivalents		 204,870 302,691
Cash and cash equivalents
at 1April 2021		 808,150 505,459
Cash and cash equivalents
at 31March 2022		 1,013,020 808,150
Analysis ofcash and cash equivalents
Cash and bank 1,013,020 808,150
1,013,020 808,150

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6 ANALYSIS OF SU PP ORT COS TS
2022 2021
f. f
IT 40,706 39,127
Accommodation 34,403 28,159
Legal and professional 1,159 1,777
Telephone 10,672 11,665
Depreciation 37,654 34,286
Bank charges 13,730 12,588
Printing,
postage		 and stationery 8,941 6,207
Sundry administration 16,420 10,740
163,685 144,549
7 GOVERNANCE
COSTS
2022 2021
f f
Audit and accountancy 10,450 9,500
Staff costs 35,393 22,141
Trustee meetings and other 118 46
45,961 31,687
8 NET MOVEMENT IN FUNDS
2022 2021
f f
The movement for the year is stated after charging:
Depreciation 37,654 34,286
Payments
under		 operating leases 3,168 3,951
Auditors'
remuneration		 9,000 8,000

2022 2021
f f
Wages and salaries 1,134,529 1,011,002
Social security costs 100,989 84,747
Other pension costs 84,830 80,730
1,320,348 1,176,479

Long
leasehold Furniture
land and Computer and office
buildings
f		 equipment
f		 equipment
f		 Total
f
Cost
At 1April 2021 460,000 132,381 88,577 680,958
Additions 12,448 3,792 16,240
Disposals (1,584) (12,378) (13,962)
At 31March 2022 460,000 143,245 79,991 683,236
Depreciation
At 1April 2021 125,404 67,959 77,356 270,719
Charge for the year 9,204 21,635 6,815 37,654
Released on disposals (1,584) (12,378) (13,962)
At 31March 2022 134,608 88,010 71,793 294,411
Net book value
At 31March 2022 325,392 55,235 8,198 388,825
At 31March 2021 334,596 64,422 11,221 410,239
12 FIXEDASSET INVESTMENTS (Listed investments) FIXEDASSET INVESTMENTS (Listed investments) FIXEDASSET INVESTMENTS (Listed investments) FIXEDASSET INVESTMENTS (Listed investments) FIXEDASSET INVESTMENTS (Listed investments) FIXEDASSET INVESTMENTS (Listed investments)
2022 2021
f. f
Valuation 1Aprii 2021 921,551 872,545
Additions
Disposals (sale proceeds) (107,841)
Realised gain on disposal 11,357
Unrealised gain/(loss)on revaluation (20,328) 145,490
Valuation 31March 2022 901,223 921,551
13 STOCKSAND WORK IN PROGRESS
2022 2021
f f
Publications
for sale		 52,225 79,857
Work in progress 34,725 35,850
86,950 115,707
14 DEBTORS
2022 2021
f f
Trade debtors 63,345 92,834
Other debtors 8,587 6,560
Prepayments
and accrued income		 71,344 16,436
Amounts owed by book distributors 36,541 47,656
179,817 163,486
15 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
f f
Trade creditors 59,216 38,606
Taxation and social security 31,234 22,630
Accruals 90,205 54,020
Deferred income —publications invoiced in advance 141,234 146,340
Other Creditors 78
321,967 261,596
2022 2021
f f
An analysis ofthe movement
on the deferred		 income account is
as follows:
Deferred income brought forward 159,059 158,651
Released to income during the year (150,688) (148,841)
Deferred in the year 149,349 149,249
Deferred income carried forward 157,720 159,059
Deferred income due within
one year		 141,234 146,340
Deferred income due after one year 16,486 12,719
157,720 159,059
16 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
f f
Deferred income 16,486 12,719
16,486 12,719

General Develop- Centenary Property
funds ment fund fund fund Total
f f f f
Unrestricted
2021		 funds at 1April 1,447,364 251,946 23,900 334,596 2,057,806
Surplus/(Deficit)
for the year		 131,305 (3,745) 127,560
(Losses)/gains on investments (12,666) (7,662) (20,328)
Transfer from development fund
Transfer to restricted
funds		 (5,269) (5,269)
Transfer from property
fund		 9,204 (9,204)
Unrestricted
funds carried
forward at31March 2022		 1,569,938 244,284 20,155 325,392 2,159,769

Centenary &
Restricted General Property development
funds funds fund funds Total
Net at31M rch2022 f f f f f
Tangible fixed assets 63,433 325,392 388,825
Fixed asset investments 656,939 244,284 901,223
Cash at bank and
in hand		 73,278 919,587 20,155 1,013,020
Stocks, work in progress
debtors		 and 5,777 260,990 266,767
Creditors falling due within (7,442) (314,525) (321,967)
one year
Creditors falling due after one (16,486) (16,486)
year
71,613 1,569,938 325,392 264,439 2,231,382
Centenary &
Restricted General Property development
funds funds fund funds Total
N t assets at 31
rch 2021		 f f f f
Tangible fixed assets 75,643 334,596 410,239
Fixed asset investments 669,605 251,946 921,551
Cash at bank and in hand 83,368 700,882 23,900 808,150
Stocks, work
debtors		 in progress and 4,634 274,559 279,193
Creditors
falling due within		 (990) (260,606) (261,596)
one year
Creditors
falling due after		 one (12,719) (12,719)
year 87,012 1,447,364 334,596 275,846 2,144,818

2022 2021
f E
Financial assets measured at fair value through profit or loss 901,223 921,551
(investments)

At start ofyear Cashflows At end ofyear
Net fu 1March 202 f f E
Cash 808,150 204,870 1,013,020