## ## ## ## ## |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| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||||0|m||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||mf||LD|Pt
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0|| ## |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| ||||||||||||||||||||OO|| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||||||||||CL0|| ||||||||||||||||||||Ql|| ||||||||||||||||||||Ql'o|| ||||||||||||||||||||Vi|| ||||||||||||||||||||Ql|| ||||||||||||||||||||Vl|| |IOv
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C| ## |||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| ## ##