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2023-03-31-accounts

Reference and administrative
information. .		 Reference and administrative
information. .		 Reference and administrative
information. .
Report ofthe Council.
Independent
auditor's		 report.. ..16
Statement offinancial activities 2023. ..19
Statement offinancial activities 2022.... ..20
Balance sheet. . ..21
Statement ofcash flows. ...22
Notes to the financial statements ..... ..23

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 fundra ising
support charitable
activities.		 team; continuing
development
ofa major
gifts programme.
Income from sales of Competitive
market		 for Bible reading notes, Development
ofa range ofroutes
resources as weg as continued pressures on the to reach end users; sponsorship
ofnew
Christian
bookshop		 market, leading to a products,
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

REPORT OF THE COUNCIL
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 ofFundraising.
Data Loss ofpersonal data, including sensitive Continual
improvement
programme
on
data and data processed through fundraising the handling
ofpersonal 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 2023 2022
funds funds total total
E E E
Income from:
Donations
and legacies
Donations 286,717 185,977 472,694 591,589
Grants 305,230 249,310 554,540 602,273
Legacies 67,378 20,000 87,378 146,058
Charitable
activities
Working with individuals
and churches 38,972 757,270 796,242 801,063
Investments
Interest received 13,844 13,844 23,492
Total income 712,141 1,212,557 1,924&698 2,164,475
Expenditure
on:
Raising funds 108,411 162,486 270,897 257,820
Charitable
activities		 438,421 1,532,797 1,971,218 1,799,763
Total expenditure 546,832 1,695,283 2,242, 115 2,057&583
Net income/(expenditure)
before investment gains 165&309 (482,726) (317,417) 106,892
(Loss) on investment 12 (84,157) (84,157) (20,328)
Net income/(expenditure) 81,152 (482,726) (401,574) 86,564
Transfers between funds 18 (423,754) 423,754
Net movement
in funds		 8 (342,602) (58,972) (401,574) 86,564
Reconciliation offunds
Total funds brought
forward		 2,159&769 71,613 2,231,382 2,144,818
Total funds carried forward 1,817,167 12,641 1,829,808 2,231,382

Notes Unrestricted Restricted 2022
funds funds total
E
Income from:
Donations
and legacies
Donations 382,284 209,305 591,589
Grants 33,007 569,266 602,273
Legacies 146,058 146,058
Charitable
activities
Working with individuals and
churches 49,711 751,352 801,063
Working with primary schools
Investments
Interest received 13,686 9,806 23,492
Total income 624,746 1,539,729 2,164,475
Expenditure
on:
Raising funds 128,103 129,717 257,820
Charitable
activities		 369,083 1,430,680 1,799,763
Total expenditure 497,186 1,560,397 2,057,583
Net income/(expenditure) before
investment
gains		 127,560 (20,668) 106,892
(Loss) on investment 12 (20,328) (20,328)
Net income/(expenditure) 107,232 (20,668) 86,564
Transfers between funds 18 (5,269) 5,269
Net movement
in funds		 101&963 (15,399) 86&564
Reconciliation
offunds
Total funds brought forward 2&057,806 87,012 2,144,818
Total funds carried forward 2,159,769 71,613 2,231,382
BALANCE SHEET
AS AT31MARCH 2023
2023 2022
Note E
Fixed assets
Tangible assets 11 369,954 388,825
Investments 12 702,128 901,223
1,072,082 1,290,048
Current assets
Stocks 13 110,058 86,950
Debtors 14 177,196 179,817
Cash at bank and in hand 774,184 1,013,020
1,061,438 1,279,787
Creditors: amounts falling due within one year 15 294,389 321,967
Net current assets 767,049 957,820
Total assets less current liabilities 1,839,131 2,247,868
Creditors: amounts faging due after more than one year 16 9,323 16,486
Net assets 1,829,808 2,231,382
Charity funds
Restricted funds 17 12,641 71,613
Unrestricted funds 18 1,396,196 1,569,938
Designated funds 420,971 589,831
Total charity funds 1829)808 2 231382

2023 2022
Notes f
Cash flows from operating activities
Net (expenditure)/income
for the reporting		 period (401,574) 86,564
Adjustments
tocash flows from non-cash		 items
Depreciation 11 32,472 37,654
Realised loss on disposal ofinvestments 12 84,157
Llnrealised
loss on revaluation
ofinvestments		 12 20,328
(284,945) 144,546
Working capital adjustments
(Increase)/decrease
in stock and work in progress		 13 (23,108) 28,757
Decrease/(increase)
in debtors		 14 2,621 (16,331)
(Decrease)/increase
in creditors		 15 (34,741) 64,138
Net cash flow from operating
activities		 (340,173) 221,110
Cash flows from investing
activities
Payments
for plant, property
and equipment		 (13,601) (16,240)
Payments
for investments		 12 (702,130)
Sale proceeds of investments 12 817,068
Net cash flow used in investing
activities		 101,337 (16,240)
Net increase in cash and cash equivalents (238,836) 204&870
Cash and cash equivalents
at 1April 2022		 1,013,020 808,150
Cash and cash equivalents
at31March 2023		 774,184 1,013,020
Analysis ofcash and cash equivalents
Cash and bank 774&184 1,013,020
774,184 1,013,020

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6 ANALYSIS OF SUP P ORT COST S
2023 2022
F. f
IT 48,303 40,706
Accommodation 12,107 34,403
Legal and professional 2,663 1,159
Telephone 8,939 10,672
Depreciation 32,472 37,654
Bank charges 13,070 13,730
Printing,
postage		 and stationery 9,012 8,941
Sundry administration 43,454 16,420
170,020 163,685
7 GOVERNANCE
COSTS
2023 2022
f f.
Audit and accountancy 13359 10,450
Staff costs 42,297 35,393
Trustee meetings and other 2,418 118
58,074 45,961
8 NET MOVEMENT IN FUNDS
2023 2022
f F.
The movement for the year is stated after charging:
Depreciation 32,472 37,654
Payments
under		 operating leases 2,010 3,168
Auditors'
remuneration		 12,200 9,000

2023 2022
f
Wages and salaries 1,221,707 1,134&529
Social security costs 116,232 100,989
Other pension costs 94,023 84,830
1,431,962 1,320,348

Long
leasehold Furniture
land and Computer and office
buildings
f		 equipment
f		 equipment
f		 Total
f
Cost
At 1April 2022 460,000 143,245 79,991 683,236
Additions 13,601 13,601
Disposals (17,232) (1,704) (18,936)
At31March 2023 460,000 139,614 78,287 677,901
Depreciation
At 1April 2022
Charge for the year		 134,608
9,204		 88,010
19,597		 71,793
3,671		 294,411
32,472
Released on disposals (17,232) (1,704) (18&936)
At 31March 2023 143,812 90,375 73,760 307,947
Net book value
At31March 2023 316,188 49,239 4,527 369,954
At 31March 2022 325,392 55,235 8,198 388,825
12 FIXEDASSET INVESTMENTS (Listed investments) FIXEDASSET INVESTMENTS (Listed investments) FIXEDASSET INVESTMENTS (Listed investments) FIXEDASSET INVESTMENTS (Listed investments) FIXEDASSET INVESTMENTS (Listed investments)
2023 2022
f
Valuation 1April 2022 901,223 921,551
Additions 702,130
Disposals (sale proceeds) (817,068)
Realised (loss) on disposal (84,157)
Unrealised (loss)on revaluation (20,328)
702,128 901,223
Valuation 31March 2023
13 STOCKSANDWORKIN PROGRESS
2023 2022
f f.
Publications
for sale		 75,026 52,225
Work in progress 35,032 34,725
110,058 86,950
14 DEBTORS
2023 2022
f f
Trade debtors 78,434 63,345
Other debtors 7,748 8,587
Prepayments
and accrued income
Amounts
owed by book distributors		 25,422
65,592		 71,344
36,541
177,196 179,817
15 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
f f
Trade creditors 77,311 59,216
Taxation and social security 25,154 31,234
Accruals 53,065 90,205
Deferred income —publications invoiced in advance 138,808 141,234
Other Creditors 51 78
294,389 321,967
2023 2022
f
An analysis ofthe movement on the deferred income account is
as follows;
Deferred income brought forward 157,720 159,059
Released to income during the year (141,234) (150,688)
Deferred in the year 131,645 149,349
148,131 157,720
Deferred income carried forward
Deferred income due within one year 138,808 141,234
Deferred income due after one year 9,323 16,486
148,131 157,720
16 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
f f
Deferred income 9,323 16,486
9,323 16,486
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General Develop- Centenary Property
funds ment fund fund fund Total
f f f f f
Unrestricted
funds at 1April
2022		 1,569,938 244,284 20,155 325,392 2,159,769
Surplus/(Deficit)
for the year		 170,074 (4,765) 165,309
(Losses) on investments (59&594) (24,563) (84,157)
Transfer from development fund 114,938 (114,938)
Transfer to general fund 15,390 (15,390)
Transfer to restricted funds (423,754) (423,754)
Transfer from property
fund		 9,204 (9,204)
Unrestricted
funds carried
forward at31March 2023		 1,396,196 104,783 316,188 1,817,167

Restricted General Property Development
funds funds fund funds Total
Net assets at 31March 2023 f f f f f
Tangible fixed assets 53,766 316,188 369&954
Fixed asset investments 597,345 104,783 702,128
Cash at bank and in hand 12,131 762,053 774,184
Stocks, work in progress and
debtors		 3,854 283,400 287,254
Creditors falling due within (3,344) (291,045) (294,389)
one year
Creditors falling due after one (9,323) (9,323)
year
12,641 1,396,196 316,188 104,783 1,829,808
Centenary &
Restricted General Property development
funds funds fund funds Total
Net assets at31March 2022 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 and
debtors		 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

2023 2022
f E
Financial assets measured at fair value through profit or loss 701,128 901,223
(investments)

Net funds at31March 2023 At start ofyear
f		 Cashflows
f		 At end ofyear
f
Cash 1,013,020 (238,836) 774,184