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|Legal and|administrative<br>information<br>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<br>activities for the year ended 31 March 2022|
|Balance Sheet as at 31 March 2022||
|Statement|ofcash flows|
|Notes to the financial statements<br>for the year ended 31 March 2022||





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||||Unrestricted|Funds|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||Accumulated|Designated|Funds|Funds|Funds|
||||Fund|Fund||2022|2021|
|Income and Ex enditure||||||||
|Income from:||||||||
|Voluntary<br>Income||||||||
|- Donations<br>and Legacies|||434,624||24,135|458,759|75,247|
|Incoming<br>resources|from Charitable|Activities||||||
|- Book and Magazine Sales|||2,121,487|||2,121,487|2,100,020|
|- Royalties<br>on foreign editions|||7,165|||7,165|7,179|
|Investment<br>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<br>on:||||||||
|Charitable<br>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<br>direct|subsidies||4,831|||4,831|2,794|
|-Other costs|||703,843|612||704,455|671,127|
|-Governance<br>Costs|||26,116|||26,116|13,917|
|Total<br>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<br>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|





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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Notes|5|5|
|Fixed Assets|||||||
|Tangible<br>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<br>accumulated||fund||12|4,320,202|3,872,832|
|Unrestricted<br>Designated||fund'||12|2,641,006|2,527,821|
|Unrestricted<br>translation|fund|||12|||
|Restricted<br>fund||||12|67,544|103,423|
|Total char<br>Funds|||||7028,752|6,504,076|





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





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||2022f|2021<br>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|



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|7<br>Fixed Assets|||||
|---|---|---|---|---|
||Computer<br>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<br>Investments|||||
||||2,022|2,021|
|Market value at 1 April|||2,144,467|1,777,718|
|Increase<br>in market value during the year|||72,005|366,749|
|Market Value at 31 Illlarch|||2,216,472|2,144,467|





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|9<br>Stock|||||
|---|---|---|---|---|
||||2022|2021|
|||||F|
|Books|||2,639,126|2,536,013|
||||2,639,126|2,536,013|
|10<br>Debtors|||||
||||2022|2021|
|Amounts<br>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<br>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|





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||||||Unrestricted|Funds||||
|---|---|---|---|---|---|---|---|---|---|
||||||Accumulated|Translation|Restricted|2022|2021|
||||||Funds|Fund|Funds|||
||||||F|F|F|||
|Fixed Assets||||||||||
|Tangible<br>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|
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|||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|





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





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||||Unrestricted<br>Funds|Unrestricted<br>Funds||Restricted|Total|
|---|---|---|---|---|---|---|---|
||||Accumulated|Designated|Translation|Funds|Funds|
||||Fund|Fund|Fund||2021|
|Income and Ex enditure||||||||
|Income from:||||||||
|Voluntary<br>Income||||||||
|- Donations<br>and Legacies|||48,758|||26,489|75,247|
|Incoming<br>resources|from Charitable|Activities||||||
|- Book and Magazine Sales|||2,100,020||||2,100,020|
|- Royalties<br>on foreign editions|||7,179||||7,179|
|Investment<br>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<br>on:||||||||
|Charitable<br>Activities||||||||
|- Cost ofSales|||1,174,911|17,900|157|36,772|1,229,740|
|-Other gifts||||||4,637|4,637|
|- Conference<br>direct|subsidies||2,794||||2,794|
|-Other costs|||657,481|13,646|||671,127|
|-Governance<br>Costs|||13,917||||13,917|
|Total<br>Expenditure|||1,849,103|31,546|157|41,409|1,922,215|
|Net income||||||||
|and net movement|in funds before|||||||
|gains<br>/ (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<br>in Funds|||176,844|400,122|(157)|(14,920)|561,890|
|Reconciliation<br>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|