2023-03-31-accounts

Legal and administrative information for the year ended 31 March 2023.	1
Trustees' report for the year ended 31 March 2023	2
Auditors' report to the trustees of The Banner of Truth Trust.	5
Statement offinancial activities for the year ended 31 March 2023.	8
Balance Sheet as at 31 March 2023	9
Statement ofcash flows	10
Notes to the financial statements for the year ended 31 March 2023.	11

			Unrestricted	Funds	Restricted	Total	Total
			Accumulated	Designated	Funds	Funds	Funds
			Fund	Fund		2023	2022
Income and Ex enditure
Income from:
Voluntary Income
- Donations and Legacies			146,857		125,350	272,207	458,759
Incoming resources	from Charitable	Activities
—Book and Magazine	Sales		2,006,005			2,006,005	2,121,487
- Royalties on foreign editions			8,786			8,786	7,165
Investment Income
- Bank interest			4,096	631		4,728	1,481
- Dividends				66,241		66,241	65,996
Total Income			2,165,744	66,872	125,350	2,357,967	2,654,888
Expenditure on:
Charitable Activities
-Cost ofSales			1,085,852	24,876	71,624	1,182,352	1,402,626
-Other gifts			308,350		24,675	333,025	3,489
-Conference direct subsidies			25,323		3,000	28,323	4,831
-Other costs			898,559	11,147		909,706	704,455
-Governance Costs			57,113			57,113	26,116
Total Expenditure			2,375,197	36,023	99,299	2,510,519	2,141,518
Net income
and net movement	in funds before
gains / (losses) on	investments		(209,453)	30,849	26,051	(152,553)	513,370
- Gain on foreign exchange			166,369			166,369	-60,699
Net gains l(losses) on investments				(178,241)	-	(178,241)	72,005
	Net Movement	in Funds	(43,084)	(147,392)	26,051	(164,425)	524,677
Reconciliation of Funds
Total Funds brought	forward		4,320,202	2,641,006	67,544	7,028,752	6,504,076
Total Funds carried	forward		4,277,118	2,493,614	93,595	6,864,327	7,028,752

				2022
		Notes		f
Fixed Assets
Tangible Fbred Assets			13,388	11,613
Imiestments			2,038,231	2,216,472
			061619	2228 086
Current Assets
Stock			2,780,828	2,839,126
Debtors		10	268,983	513,454
Prepayments and accrued Income
Cash at bank and In hand			2237,247	1.951263
Total Current Assets				5,103,843
Creditors: amounts falUng due within one year		11	474,160	303,176
Total assets less current liabilities			4,812.708	4,80O667
Net assets			6,864,327	7,026,752
Representing:-
The Funds ofthe charity
Unrestricted accumulated	fund	12	4,277,118	4,320,202
Unrestricted Designated	fund	12	2,493,614	2,641,006
Restricted fund		12	93,696	67,544
Total charl Funds			6,864,327	7,028,752
The notes atpages 11to	21 form part ofthese accounts

				Total	Total
				Funds	Funds
				2023	2022
			Notes
Net cash used in operating	activities		16	222,544	(115,491)
Cash flows from investing	activities:
Interest and dividends				70,969	67,476
Purchase offurniture and equipment				7,529	(3,989)
Proceeds from sale ofinvestments
Net cash provided by investing activities				78,498	63,487
Change in cash and cash	equivalents	in the year		301,042	(52,004)
Cash and cash equivalent brought forward				1,951,263	2,003,267
Cash and cash equivalents	carried forward			2,237,247	1,951,263

	2023	2022
Wages and salaries	453,146	364,471
Social security costs	39,946	34,422
Pension Costs	64,181	56,104
Total	557,273	454,997

7 Fixed Asset	s
		Computer and	FIXtURS
		ofsce equipment	and fittings	Totalf
Cost
At 31 March 2022		34,814	44,932	79,746
Additions		6,778	751	7,529
Disposals
At 31 March 2023		41,592	45,683	87,275
Depreciation
At 31 March 2022		25,476	42,657	68,133
Charge for the year		4,886	867	5,754
Disposals
At 31 March 2023		30,362	43,524	73,887
Net Book Value
At 31 March 2023		11,230	2,159	13,388
Net Book Value
At 31 March 2022		9,338	2,275	11,613
8 Investments
			2023	2022
			f
Market value at 1 April			2,215,472	2,144,467
Decrease)/Increase	in market value during the year		178,241	72,005
Market Value at 31	March		2,038,231	2,216,472

9 Stock
	2023	2022
Books	2,780,628	2,639,126
	2,780,628	2,639,126

10 Debtors
			2023	2022
Amounts falling	due within one year:
Trade Debtors			43,588	33,926
Other debtors			54,672	308,350
Prepayments			12,620	9,425
Banner ofTruth,	Carlisle,	USA	66,198	14,948
Banner ofTruth,	Carlisle,	USA (USA Bad Debt Prov)
Banner ofTruth	Building	Fund Trust	91,905	146,805
			268,983	513,454
11 Creditors
			2023	2022
				F
Amounts falling	due within	one year:
Trade Creditors			255,218	117,178
Royalties			108,125	122,724
Accruals and other creditors			31,194	22,288
Banner ofTruth,	Carlisle,	USA
Deferred Income			79,613	40,986
			474,150	303,176

12 Rec	oncili	ation of	mov	ement in Trust Fun	ds
					Accumulated	Designated	Restricted
					Fund	Fund	Fundsf		Total F
Total Funds	b/fwd	at 31 March	2022		4,320,202	2,641,006	67,544	7,028,752
Incoming	resources				2,165,744	66,872	125,350	2,357,966
(Outgoing	resources)				(2,375,197)	(36,023)	(99,299)	(2,510,519)
Unrealised	(losses)/gains		on investments			(178,241)			(178,241)
Gains on	forei	n exchan	e		166,369				166,369
Total Funds	c/fwd	at31March	2023		4,277,118	2,493,614	93,595	6,864,327
The designated		fund is money		primarily set aside for	the provision ofthe works ofJ C Ryle free ofcharge or at subsidised
rates to pastors, missionaries,				colleges, etc.
Restricted	Funds comprise of:
					Balance at				Balance at
					31 March 2022	Incoming	Expended	31	March 2023
						F	F
Dewar Fund						17,112	(17,112)
Chinese Print					17,555				17,555
Other restricted		gifts			49,989	108,238	(82,187)		76,040
Closin Trust		Funds			67,544	125,350	99,299		93,595

				Accumulated	Restricted	2023	2022
				Funds	Funds
				F
Fixed Assets
Tangible fixed assets				13,388		13,388	11,613
Investments				2,038,231		2,038,231	2,216,472
				2,051,619		2,051,619	2,228,085
Current Assets
Stock				2,780,628		2,780,628	2,639,126
Debtors				268,963		268,983	513,454
Cash and bank balances				2,143,652	93,595	2,237,247	1,951,263
				5,193,263	93,595	5,286,858	5,103,643
Creditors: amounts		falling due within one year		474,150		474,150	303,176
Net current	assets			4,719,113	93,595	4,812,708	4,800,667
Net assets				6,770,733	93,595	6,864,328	7,026,752
Representing:-
Trust Funds
Unrestricted	Accumulated		fund	4,277,116		4,277,118	4,320,202
Unrestricted	Designated		fund	2,493,614		2,493,614	2,641,006
Restricted fund					93,595	93,595	67,544
Total Trust	Funds			6,770,732	93,595	6,864,327	7,028,752

		Book	Magazine		Governance
		Production	Production	Conferences	Costs	2023
Cost ofSales		1,071,094	14,758			1,085,852
Grants and	Subsidies
Other Gifts		308,350				308,350
Conference	Costs (NET)			25,323	6,255	31,578
Advertising	and Sales Expense	163,034	11,000			174,034
Staffing Costs		409,864	77,049	59,883	10,478	557,274
Depreciation		4,313	811	630		5,754
Support Costs		122,920	23,107	17,959	40,381	204,367
TOTALS		2,079,575	126,725	103,795	57,114	2,367,209

		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

				2023	2022
				f
Net movement in funds				(164,425)	524,677
Add back depreciation	charge			5,754	4,170
Deduct interest income	shown	in investing	activities	(70,969)	(67,476)
Deduct gains/ add back	losses on investments			178,241	(72,005)
Decrease in debtors				244,471	(438,918)
Increase in inventories				(141,502)	(103,113)
(Decrease)/Increase in	creditors			170,974	37,175
Net cash used in operating activities				222,544	(115,491)

				Unrestricted	Funds	Restricted	Total
				Accumulated	Designated	Funds	Funds
				Fund	Fund		2022
Income and Ex enditure
Income from:
Voluntary Income
- Donations and Legacies				434,624		24,135	458,759
Incoming resources	from Charitable	Activities
-Book and Magazine Sales				2,121,487			2,121,487
—Gain on foreign exchange
—Royalties on foreign editions				7,165			7,166
investment Income
—Bank interest				1,453	28		1,481
- Dividends					65,996		65,996
Total Income				2,564,729	66,024	24,135	2,654,888
Expenditure on:
Charitable Activities
-Cost ofSales				1,321,870	24,232	56,525	1,402,627
—Other gifts						3,489	3,489
-Conference direct	subsidies			4,831			4,831
-Other costs				703,843	612		704,455
-Governance Costs				26,116			26,116
Total Expenditure				2,056,660	24,844	60,014	2,141,518
Net income
and net movement	In funds before
gains / (losses) on	investments			508,069	41,180	(35,879)	513,370
Net loss on Foreign	Exchange			(60,699)			(60,699)
Net gains l(losses) on investments					72,005		72,005
		Net Movement	in Funds	447,370	113,186	(35,879)	524,676
Reconciliation ofFunds
Total Funds brought	forward			3,872,832	2,527,821	103,423	6,504,076
Total Funds c/fwd	at 31 March 2022			4,320,202	2,641,006	67,544	7,028,762