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





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||||Unrestricted<br>Funds|Unrestricted<br>Funds||Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||Accumulated|Designated|Translation|Funds|Funds|Funds|
||||Fund|Fund|Fund||2021|2020|
|Income and Ex enditure|||||||||
|Income from:|||||||||
|Voluntary<br>Income|||||||||
|- Donations<br>and Legacies|||48,758|||26,489|75,247|104,788|
|Incoming<br>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<br>on foreign editions|||7,179||||7,179|4,944|
|Investment<br>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<br>on:|||||||||
|Charitable<br>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<br>direct|subsidies||2,794||||2,794|58,270|
|-Other costs|||657,481|13,646|||671,127|550,457|
|-Governance<br>Costs|||13,917||||13,917|39,308|
|Total<br>Expenditure|||1,849,103|31,546|157|41,409|1,922,215|1,537,364|
|Net income|||||||||
|and net movement|in funds before||||||||
|gains<br>/ (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<br>of Funds|||||||||
|Total Funds brought|forward||3,695,988|2,127,699|157|118,343|5,942,187|5,765,340|
|Total Funds<br>c/fwd|at 31 March 2021||3,872,832|2,527,821||103,423|6,504,076|5,942,187|





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|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<br>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<br>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<br>accumulated||fund||12|3,872,832|3,695,988|
|Unrestricted<br>Designated|fund|||12|2,627,821|2,127,699|
|Unrestricted<br>translation|fund|||12||157|
|Resbicted fund||||12|103,423|118,343|
|Total charity Funds|||||6&604;076|5,942,167|





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





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



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||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|



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|7<br>Fixed Assets|||||||
|---|---|---|---|---|---|---|
||||Computer<br>and|Fixtures|Motor||
||||oflice equipment|and fittingsf|Vehiclesf|Total<br>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<br>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|





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|9<br>Stock|||||
|---|---|---|---|---|
||||2021|2020|
||||F||
|Books|||2,536,013|2,050,369|
||||2,536,013|2,050,369|
|10<br>Debtors|||||
||||2021f|2020|
|Amounts<br>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<br>Creditors|||||
||||2021|2020|
||||E|E|
|Amounts<br>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|





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|||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|
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|||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|





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||||||2021|2020|
|---|---|---|---|---|---|---|
|Net movement<br>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/<br>add back|losses||on investments||(366,749)|253,467|
|Decrease in debtors|||||331,856|68,182|
|Increase<br>in inventories|||||(485,643)|(122,436)|
|Decrease in creditors|||||(72,384)|(26,061)|
|Net cash used in operating||activities|||(92,907)|273,217|





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|17.Statement|offinancial|activities for|the year|ended 31 March 2020|ended 31 March 2020||||
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted<br>Funds|||Restricted|Total|
|||||Accumulated|Designated|Translation|Funds|Funds|
|||||Fund|Fund|Fund||2020|
|Income and Ex enditure|||||||||
|Income from:|||||||||
|Voluntary<br>Income|||||||||
|- Donations<br>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<br>on foreign editions||||4,944||||4,944|
|Investment<br>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<br>on:|||||||||
|Charitable<br>Activities|||||||||
|-Cost ofSales||||801,924|38,443||33,495|873,882|
|- Other gifts|||||||15,467|15,457|
|—Conference<br>direct|subsidies|||55,770|||2,500|58,270|
|- Other costs||||540,457|10,000|||550,457|
|- Governance<br>Costs||||39,308||||39,308|
|Total<br>Expenditure||||1,437,459|48,443||51,462|1,537,364|
|Net income|||||||||
|and net movement|in funds before||||||||
|gains<br>/ (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<br>of Funds|||||||||
|Total Funds brought|forward|||3,309,900|2,353,642|157|101,641|5,765,340|
|Total Funds<br>c/fwd|at 31 March 2020|||3,695,988|2,127,699|157|118,343|5,942,187|