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2021-03-31-accounts

Legal and administrative
information
for the year ended 31 March 2021.
Trustees' report for the year ended 31 March 2021
Auditors' report to the trustees
ofThe Banner of Truth Trust
Statement offinancial
activities for the year ended 31 March 2021.
Balance Sheet as at 31 March 2021
Statement ofcash flows
Notes to the financial statements
for the year ended 31 March 2021.

Unrestricted
Funds		 Unrestricted
Funds		 Restricted Total Total
Accumulated Designated Translation Funds Funds Funds
Fund Fund Fund 2021 2020
Income and Ex enditure
Income from:
Voluntary
Income
- Donations
and Legacies		 48,758 26,489 75,247 104,788
Incoming
resources		 from Charitable Activities
- Book and Magazine Sales 2,100,020 2,100,020 1,696,382
- Gain on foreign exchange (131,478) (131,478) 83,690
-Royalties
on foreign editions		 7,179 7,179 4,944
Investment
Income
- Bank interest 1,468 2,210 3,678 2,558
- Dividends 62,709 62,709 75,316
Total Income 2,025,947 64,919 26,489 2,117,355 1,967,678
Expenditure
on:
Charitable
Activities
-Cost ofSales 1,174,911 17,900 157 36,772 1,229,740 873,862
-Other gifts 4,637 4,637 15,467
- Conference
direct		 subsidies 2,794 2,794 58,270
-Other costs 657,481 13,646 671,127 550,457
-Governance
Costs		 13,917 13,917 39,308
Total
Expenditure		 1,849,103 31,546 157 41,409 1,922,215 1,537,364
Net income
and net movement in funds before
gains
/ (losses) on		 investments 176,844 33,373 (157) (14,920) 195,140 430,314
Net gains /(losses) on investments 366,749 366,749 (253,467)
Net Movement in Funds 176,844 400,122 (157) (14,920) 561,889 176,847
Reconciliation
of Funds
Total Funds brought forward 3,695,988 2,127,699 157 118,343 5,942,187 5,765,340
Total Funds
c/fwd		 at 31 March 2021 3,872,832 2,527,821 103,423 6,504,076 5,942,187

Balance Sheet as at 31 March 2021
2021 2020
Notes 8
Fixed Assets
Tangible Fixed Assets 11,787 4,429
Investments 2,144+67 1,777,718
Total Fixed Assets 2,166,264 178 147
Current Assets
Stock 2,636,013 2,050,369
Debtors 10 62,278 362,932
Prepaymants
and accrued		 income 12+66 43,487
Cash at bank,and.ln hand 2,041 656
Total Current Assets 4&613,823 4,498,424
Creditors: amounts
falling due within ons year		 11 286,001 33S,384
Current assbts Iesa'current liabilities 4 47,822 4160040
Net assets 5,942,1S7
Representing:-
The Funds ofthe charity
Unrestricted
accumulated		 fund 12 3,872,832 3,695,988
Unrestricted
Designated		 fund 12 2,627,821 2,127,699
Unrestricted
translation		 fund 12 157
Resbicted fund 12 103,423 118,343
Total charity Funds 6&604;076 5,942,167

Total Prior
Funds Funds
2021 2020
Notes
Net cash used in operating
activities		 16 (92,907) 273,217
Cash flows from investing
activities:
Interest and dividends 66,387 77,874
Purchase offurniture
and equipment		 (11,869) (3,954)
Proceeds from sale ofinvestments
Net cash provided
by investing
activities		 54,518 73,920
Cash flows from financing
activities:
Receipt ofexpendable
endowment
Net cash provided
by financing
activities
Change
in cash and cash equivalents		 in the year (38,390) 347,137
Cash and cash equivalent
brought
forward		 2,041,656 1,694,519
Cash and cash equivalents
carried forward		 2,003,266 2,041,656

Furniture and fittings 25%
Computers and office equipment 25%
Motor Vehicles 25%

2021 2020
E E
Wages and salaries 363,891 324,784
Social security costs 33,746 25,662
Pension Costs 41,153 37,608
Total 438,790 388,054

7
Fixed Assets
Computer
and		 Fixtures Motor
oflice equipment and fittingsf Vehiclesf Total
F.
Cost
At 31 March 2020 21,444 42,444 63,888
Additions 11,472 397 11,869
Disposals
At 31 March 2021 32,916 42,841 75,757
Depreciation
At 31 March 2020 17,352 42,108 59,460
Charge for the year 4,341 169 4,510
Disposals
At 31 March 2021 21,693 42,277 63,970
Net Book Value
At 31 March 2021 11,223 564 11,787
Net Book Value
At 31 March 2020 4,093 336 4,429
8
Investments
2021f 2020
Market value at 1 April 1,777,718 2,031,185
(Decrease)/Increase in market value during the year 366,749 (253,467)
Market Value at 31 March 2,144,467 1,777,718

9
Stock
2021 2020
F
Books 2,536,013 2,050,369
2,536,013 2,050,369
10
Debtors
2021f 2020
Amounts
falling		 due within one year:
Trade Debtors 43,850 32,704
Other debtors
Banner ofTruth, Carlisle, USA 330,228
Banner ofTruth Building Fund Trust 18,428
62,278 362,932
11
Creditors
2021 2020
E E
Amounts
falling		 due within one year:
Trade Creditors 34,941 51,524
Royalties 133,804 121,304
Accruals and other creditors 17,847 17,501
Banner ofTruth, Carlisle, USA 79,409
Banner of Truth Building Fund Trust 148,055
266,001 338,384

Unrestricted Funds
Accumulated Translation Restricted 2021 2020
Funds Fund Funds
F E
Fixed Assets
Tangible fixed assets 11,787 11,787 1,567
Investments 471,057 471,057 2,031,185
459,270 459,270) 2,032,752
Current Assets
Stock 2,536,013 2,536,013 1,927,933
Debtors 62,278 62,278 474,581
Cash and bank balances 1,899,843 103,423 2,003,266 1,694,519
4,498,134 103,423 4,601,557 4,097,033
Creditors: amounts falling due within one year 266,001 266,001 364,445
Net current assets 4,232,133 103,423 4,335,556 3,732,588
Net assets 3,772,863 103,423 3,876,286 5,765,340
Trust Funds Trust Funds
Unrestricted Accumulated fund 3,872,832 3,872,832 3,309,900
Unrestricted Designated fund 2,527,821 2,527,821 2,353,642
Unrestricted Translation fund 157
Restricted fund 103,423 103,423 101,641
Total Trust Funds 6,400,653 103,423 6,504,076 5,765,340
18

Book Magazine Governance
Production Production Conferences Costs 2021
Cost ofSales 1,169,988 13,209 1,183,197
Grants and Subsidies
Other Gifts
Conference Costs (NET) 2,794 1,524 4,318
Advertising and Sales Expensi 129,732 11,000 140,732
Staffing Costs 321,051 60,353 46,907 10,478 438,789
Depreciation 3,375 635 493 4,503
Support Costs 77,395 14,549 11,308 1,915 105,167
TOTALS 1,701,541 99,746 61,502 13,917 1,876,706
Book Magazine Governance
Production Production Conferences Costs 2020
Cost ofSales 790,870 11,053 801,923
Grants and Subsidies
Other Gifts
Conference Costs (NET) 55,770 4,305 60,075
Advertising and Sales Expensi 84,664 11,000 95,664
Staffing Costs 283,022 53,203 41,350 10,478 388,053
Depreciation 818 154 120 1,092
Support Costs 91,416 17,185 13,356 24,525 146,482
TOTALS 1,250,790 92,595 110,596 39,308 1,493,289

2021 2020
Net movement
in funds		 561,889 176,847
Add back depreciation charge 4,510 1,092
Deduct interest income shown in investing activities (66,387) (77,874)
Deduct gains/
add back		 losses on investments (366,749) 253,467
Decrease in debtors 331,856 68,182
Increase
in inventories		 (485,643) (122,436)
Decrease in creditors (72,384) (26,061)
Net cash used in operating activities (92,907) 273,217

17.Statement offinancial activities for the year ended 31 March 2020 ended 31 March 2020
Unrestricted
Funds		 Restricted Total
Accumulated Designated Translation Funds Funds
Fund Fund Fund 2020
Income and Ex enditure
Income from:
Voluntary
Income
- Donations
and Legacies		 36,624 68,164 104,788
Incoming resources from Charitable Activities
- Book and Magazine Sales 1,696,382 1,895,382
- Gain on foreign exchange 83,690 83,590
- Royalties
on foreign editions		 4,944 4,944
Investment
Income
- Bank interest 1,907 651 2,558
- Dividends 75,316 75,315
Total Income 1,823,547 75,967 68,164 1,967,578
Expenditure
on:
Charitable
Activities
-Cost ofSales 801,924 38,443 33,495 873,882
- Other gifts 15,467 15,457
—Conference
direct		 subsidies 55,770 2,500 58,270
- Other costs 540,457 10,000 550,457
- Governance
Costs		 39,308 39,308
Total
Expenditure		 1,437,459 48,443 51,462 1,537,364
Net income
and net movement in funds before
gains
/ (losses) on		 investments 386,088 27,524 16,702 430,314
Net gains /(losses) on investments (253,467) (253,467)
Net Movement in Funds 386,088 (225,943) 15,702 175,847
Reconciliation
of Funds
Total Funds brought forward 3,309,900 2,353,642 157 101,641 5,765,340
Total Funds
c/fwd		 at 31 March 2020 3,695,988 2,127,699 157 118,343 5,942,187