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2022-03-31-accounts

Legal and administrative
information
for the year ended 31 March 2022
Trustees' report for the year ended 31 March 2022
Auditors' report to the trustees ofThe Banner ofTruth Trust
Statement offinancial
activities for the year ended 31 March 2022
Balance Sheet as at 31 March 2022
Statement ofcash flows
Notes to the financial statements
for the year ended 31 March 2022

Unrestricted Funds Restricted Total Total
Accumulated Designated Funds Funds Funds
Fund Fund 2022 2021
Income and Ex enditure
Income from:
Voluntary
Income
- Donations
and Legacies		 434,624 24,135 458,759 75,247
Incoming
resources		 from Charitable Activities
- Book and Magazine Sales 2,121,487 2,121,487 2,100,020
- Royalties
on foreign editions		 7,165 7,165 7,179
Investment
Income
- Bank interest 1,453 28 1,481 3,678
- Dividends 65,996 65,996 62,709
Total Income 2,564,729 66,024 24,135 2,654,888 2,248,833
Expenditure
on:
Charitable
Activities
—Cost ofSales 1,321,870 24,232 56,525 1,402,626 1,229,740
—Other gifts 3,489 3,489 4,637
—Conference
direct		 subsidies 4,831 4,831 2,794
-Other costs 703,843 612 704,455 671,127
-Governance
Costs		 26,116 26,116 13,917
Total
Expenditure		 2,056,660 24,844 60,014 2,141,518 1,922,215
Net income
and net movement in funds before
gains I(losses) on investments 508,069 41,180 (35,879) 513,370 326,618
Net loss on Foreign Exchange (60,699) (60,699) (131,478)
Net gains I(losses) on investments 72,005 72,005 366,749
Net Movement in Funds 447,370 113,185 (35,879) 524,677 561,889
Reconciliation
ofFunds
Total Funds brought forward 3,872,832 2,527,821 103,423 6,504,076 5,942,187
Total Funds clfwd at 31 March 2022 4,320,202 2,641,006 67,544 7,028,752 6,504,076

2022 2021
Notes 5 5
Fixed Assets
Tangible
Fixed Assets		 11,613 11,787
Investments 2,216,472 2,144,467
Total Fixed Assets 2 228 085 158,254
Current Assets
2&639,126 2,536,013
Debtors 10 513;464 74,544
Cash at bank and In hand 1961262 2;003556
Total.Current Assets 5,103,843 4,613,823
Creditors: amounts falling'due within one year 11 303,176 265,001
Current assets less current Ilablgtles 4,800867 4347,822
Net assets 7,028,762 6;504,076
Representing'. -
The Funds ofthe charity
Unresbicted
accumulated		 fund 12 4,320,202 3,872,832
Unrestricted
Designated		 fund' 12 2,641,006 2,527,821
Unrestricted
translation		 fund 12
Restricted
fund		 12 67,544 103,423
Total char
Funds		 7028,752 6,504,076

Total Prior
Funds Funds
2022 2021
Notes
Net cash used in operating
activities		 15 (115,491) (92,907)
Cash flows from investing
activities:
Interest and dividends 67,476 66,387
Purchase offurniture
and equipment		 (3,989) (11,869)
Proceeds from sale of investments
Net cash provided
by investing
activities		 63,487 54,518
Cash flows from financing
activities:
Receipt ofexpendable
endowment
Net cash provided
by financing
activities
Change
in cash and cash equivalents		 in the year (52,004) (38,389)
Cash and cash equivalent
brought
forward		 2,003,267 2,041,656
Cash and cash equivalents
carried forward		 1,951,262 2,003,267

2022f 2021
F
Wages and salaries 364,471 363,891
Social security costs 34,422 33,746
Pension Costs 56,104 41,153
Total 454,997 438,790

7
Fixed Assets
Computer
and		 Fixtures Motor
office equipmentf and fittingsf Vehiclesf Totalf
Cost
At 31 March 2021 32,916 42,841 75,757
Additions 1,898 2,091 3,989
Disposals
At 31March 2022 34,814 44,932 79,746
Depreciation
At 31 March 2021 21,686 42,277 63,963
Charge for the year 3,790 380 4,170
Disposals
At 31 March 2022 25,476 42,657 68,133
Net BookValue
At 31 INarch 2022 9,338 2,275 11,613
Net Book Value
At 31 March 2021 11,223 11,787
8
Investments
2,022 2,021
Market value at 1 April 2,144,467 1,777,718
Increase
in market value during the year		 72,005 366,749
Market Value at 31 Illlarch 2,216,472 2,144,467

9
Stock
2022 2021
F
Books 2,639,126 2,536,013
2,639,126 2,536,013
10
Debtors
2022 2021
Amounts
falling		 due within one year:
Trade Debtors 33,926 43,850
Legacy Debtor 308,350
Prepayments 9,425 12,266
Banner ofTruth, Carlisle, USA 14,948
Banner ofTruth, Carlisle, USA (USA Bad Debt Prov) 18,428
Banner ofTruth Building Fund Trust 146,805
513,454 74,544
11 Creditors
2022 2021
Amounts
falling		 due within one year:
Trade Creditors 117,178 34,941
Royalties 122,724 133,804
Accruals and other creditors 22,288 17,847
Banner ofTruth, Carlisle, USA 79,409
Deferred Income 40,986
303,176 266,001

Unrestricted Funds
Accumulated Translation Restricted 2022 2021
Funds Fund Funds
F F F
Fixed Assets
Tangible
fixed assets		 11,613 11,613 11,787
Investments 2,216,472 2,216,472 2,144,467
2,228,085 2,228,085 2,156,254
Current Assets
Stock 2,639,126 2,639,126 2,536,013
Debtors 513,454 513,454 74,544
Cash and bank balances 1,883,719 67,544 1,951,262 2,003,266
5,036,299 67,543 5,103,842 4,613,823
Creditors: amounts falling due within one year 303,176 303,176 266,001
Net current assets 4,733,123 67,544 4,800,667 4,347,822
Net assets 6,961,208 67,544 7,028,752 6,504,076
Representing:-
Trust Funds
Unrestricted Accumulated fund 4,320,202 4,320,202 3,872,832
Unrestricted Designated fund 2,641,006 2,641,006 2,527,821
Unrestricted Translation fund
Restricted fund 67,544 67,544 103,423
Total Trust Funds 6,961,208 67,544 7,028,752 6,504,076
18

Book Magazine Governance
Production Production Conferences Costs 2022
Cost ofSales 1,308,523 13,347 1,321,870
Grants and Subsidies
Other Gifts
Conference Costs (NET) (4,831) 2,860 (1,971)
Advertising and Sales Expense 132,130 11,000 143,130
Staffing Costs 333,200 62,637 48,682 10,478 454,997
Depreciation 3,126 588 457 4,171
Support Costs 99,894 18,779 14,595 12,778 146,046
TOTALS 1,876,873 106,351 58,903 26,116 2,068,243
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 Expense 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

16.Reconciliation
of net movement		 16.Reconciliation
of net movement		 16.Reconciliation
of net movement		 in funds to net cash flow from
operating		 activities
2022 2021
Net movement
in funds		 524,677 561,889
Add back depreciation charge 4,170 4,510
Deduct interest income shown in investing activities
(67,476)		 (66,387)
Deduct gains/
add back		 losses on investments
(72,005)		 (366,749)
(Increase)/Decrease
in		 debtors (438,918) 331,856
Increase
in inventories		 (103,113) (485,643)
(Decrease)/Increase
in		 creditors 37,175 (72,384)
Net cash used in operating
activities		 (115,491) (92,908)

Unrestricted
Funds		 Unrestricted
Funds		 Restricted Total
Accumulated Designated Translation Funds Funds
Fund Fund Fund 2021
Income and Ex enditure
Income from:
Voluntary
Income
- Donations
and Legacies		 48,758 26,489 75,247
Incoming
resources		 from Charitable Activities
- Book and Magazine Sales 2,100,020 2,100,020
- Royalties
on foreign editions		 7,179 7,179
Investment
Income
- Bank interest 1,468 2,210 3,678
—Dividends 62,709 62,709
Total Income 2,157,425 64,919 26,489 2,248,834
Expenditure
on:
Charitable
Activities
- Cost ofSales 1,174,911 17,900 157 36,772 1,229,740
-Other gifts 4,637 4,637
- Conference
direct		 subsidies 2,794 2,794
-Other costs 657,481 13,646 671,127
-Governance
Costs		 13,917 13,917
Total
Expenditure		 1,849,103 31,546 157 41,409 1,922,215
Net income
and net movement in funds before
gains
/ (losses) on		 investments 308,322 33,373 (157) (14,920) 326,619
Net loss on foreign Exchange (131,478) (131,478)
Net gains /(losses) on investments 366,749 366,749
Net Movement
in Funds		 176,844 400,122 (157) (14,920) 561,890
Reconciliation
ofFunds
Total Funds brought forward 3,695,988 2,127,699 157 118,343 5,942,187
Total Funds c/fwd at 31 March 2021 3,872,832 2,527,821 103,423 6,504,076