THE PROTESTANT ALLIANCE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charfty Reglstratlon Number 237987
THE PROTESTANT ALLIANCE (Charity Registration Number 237987) CONTENTS REPORTS Page Report of the Trustees Re of the Independent Examiner FINANCIAL STATEMENTS ststement of Financial Activities Balance Sheet Notes to the Fin8naal Statem8nts 8-14
THE PROTESTANT ALLIANCE F THE TRUSTEE THE YEAR ENDED 31 MA The Trustees present their annual report and financial ststements of the charity for the year ended 31 March 2024. The financt81 statements have been ppared in accordance with the accounting EIci85 set out in note 1 to the a¢¢ounts and comply with the chanty's trust deed. the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charrties preparing their accounts in accordance wrth the Financial Reporting Standard for Smaller Entib'es published on 16 Juty 2014. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT The Council Members confim that Ih8y have complied with their dut under section 17151 of th8 Charities Act 2011 to fer lo the guidance contained in the Charity Commission'$ gener81 guidanc on public benefit when reviewing the Trust's aims and objectNes and in planning future activities. The objects of The Protestant Alliance a. To bring the saving faith of the Lord Jesus Christ to Roman Catholi(s. AngIcpCatholi and to all those not knowing the Scriptu$ or the power of God. To maintain against all encroachment the Scriptural Doctrines of the Refomiation and the principle5 of religious libety- Where possible lo relieve povety and advance religion among P8rsecuted Protestsnts. To seek to preseNe the purity of th8 Gospel as reoNded in the Holy Sc*iptures. REVIEW OF ACHIEVEMENTS AND PERFORMANCE DELIVERING PUBLIC BENEFrr The benefits of the work of The Protestant Aliance are the dissemination and distribution of infom)ation about the Scriptural Doctri of the Refom)ation and the relief of poverty and advancement of religion among persecuted Protestants. These are achieved by.. Producing a periodical entitled "The Refomierf. A preaching and lecturing ministy by Mr Gharfes Scott-Pearson. Bearlng witness at Protestsnl Martyr Commemoration meetings. principally in areas of England which wer8 badly affected by the Marian pwJecution of Protestants from 1553 to 1558. Attending County and Agricultural shows. Supporting the Protestant cause in Lllhuania by helping with the provision of good Bibll¢al Ilteralure. It is the fim) and unshakeable position of The Protestant Allian that the preaching of the Christian Gospel is beneficial not only to those who hear and respond positively lo it. but also to society as whole. History shows that when Biblical prinuples have been the bedrock of society there has been a gener81 peace and tranquillity. As Biblical principles have reced8d in British society. we have seen dramatic increase in crime and disorder. partiujlarfy violent crtme. The public bgnefil of Biblical preaching to society is immeasurable. The Coun¢il confim) that Ih8y have complied with their duties under section 17{5) of the Charities Act 2011 to referto the Charity Commission's general guidance on public b&nefit when reviewing the aims and objgctives and in planning futurg activities. The Trustees are grateful for the assistance of vdunleers in administration at nil cost to the charity. FINANCIAL REVIEW FINANCIAL REPORT FOR THE YEAR Detsils of the financial positron of The Protestant Aliance for the year ended 31 March 2024 are shown on pages 6 to 14. The fvnds have been applied to Ihe objects of the charity in accordance with the Statement of Financial Actfvities on page 6.
THE PROTESTANT ALLIANCE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED} FINANCIAL REVIEW (CONTINUED) Total income received for the year was £75.82412023: £33,342) of which £2,34312023.' £3,097) was restricted. The surplus on general unrestricted fund before net gains or losses on investments was £117 {2023.' deficit £46.977). The deficit on restncted funds was £5,64812023'. surplus £3.097). The net deficit before net gains or losses on inveslmenl$ was £5.531 {2023.' £43,880). Net gains on investments were £9,842 12023: £4.2761, resulting in an overall net surplus of £4.311 (2023.. deficit £48,156). The Protestant Alliance had been operating on a deficrt on the General Fund for som8 years prior to the year ended 31 March 2024, which had resulted in its reserves being progressively diminished. However, liquidity remains very gc. The Trustees prayerfully anticipate the Lord providing all the needs of the charity according to His riches in glory. Present levels of voluntsry income exduding legacies are inadequate lo sustain [rrent levels of expenditure. The declining income in recent years reflects the diminishing constituency of Protestant Christianty in the United Kingdom. Nevertheless, there has been a welcome InaSe in income when 'The RefOneff magazine has b8en published. However. staff shortages due to the low levels of income and a lack of voluntsry help are still hampering the wo. particularty as increasing regulatory requirements for banking have had lo be mel lo ensure the charity can continue to operate. An inlemal review is being conducted by the Trustees to consider changes to the business mod81 of the charity. The Council is grateful to supporters for their continued sacrrficial givtng. Funds are raised almost entirely through the freewill giving of supporters. Funds are not raised in any way from the general publi¢. The Trustees are encouraged by Ihe promise of further legacies. uncertain in amount and timing. which will help future finances. There are no sIn.CtlOnS on the TNslees' power to invest although their policy is lo invest in low-risk investments. and having regard to social, environmental and ethical nSIderatIOns. GRANT-MAKING POLICY It is the policy of the Council to make grants from time to lime in accordance with the chanty's objectives. RESERVES POLICY It is the wlicy of the Cwncil to maintain unrestricted fund$. which are the free reserves of the charity, at a level which equ*es to approximately thre8 months unreslricted expenditure. FINANCIAL POSITION AT THE YEAR END The unrestricted general fund carried forward was £225.297 12023: £215.338). Restricted funds carried forward were £15,18812023: £20,836). PLANS FOR THE FUTURE The Council and staff will continue to publish and distributs Yhe Refomierf. arrange events. preach. and witness to bring Ihe saving faith of the Lord Jesus Christ to others in the light of Holy Scripture. STRUCTURE, GOVERNANCE AND MANAGEMENT The Trust is a registered charity. number 237987, and 1$ govemed by a nStitutIon dated 3 October 1992. The Tnjslees are the members of the Counul of Management who are elected by members at the Annual General Meeting. They are appointed for one year. Names of prospective Council Members a considered by the Council and proposed at the Annual General Meeting. The Chaimian. Deputy Chairman and Clerk a appointed by the Council every year.
THE PROTESTANT ALLIANCE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) TURE GOVERNANCE ND MANAGEMENT CONTIN ED TRUSTEES AND MEMBERS OF COUNCIL C N Banks IChBim7anl, F Raynsford (Deptty ChaiMnI, H W PhilK (c]MInUteS Secr8tsry}. D E Fayers. C J Dav. A P Toms, M Aldridge {resigned 11 May 20241, and P Simpson {from 9 October 20231. The following resigned during the year.. M Mullins {23 August 2023) and A J Wllliams15 October 2023). LIFE MEMBERS OF THE COUNCIL T F Cook, G Glassbrcok. PRINCIPAL OFFICE 7 Jubilee Cottages Station Road Marston Moretaine Bedford MK43 OPN OFFICE HOLDERS C W Scott-Pearson (General Secretary) K W Burden (Hon Tr8asurerl INDEPENDENT EXAMINER M D Smlth FCA 47 The Willows Llttle Harrowden Wellingborough Northants NN9 5BJ BANKERS Bardays Bank plc
THE PROTESTANT ALLIANCE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ICONTINUEDI TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The Charity Trustees are responsible for preparing a Tw$tees' annual report and financial statements in accordance with applicable law and United Kingdom Aceounling Standards (United Kingdom Generally Accepted Accounting Practice). The law appIlble lo charities in England and Wales requires the charity Trustees lo prepare financial statements for each year which gNe a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that p8riod. In preparing the financial statements. the Trustees are required lo: select suitable accounting policies and then apply them consistenuy. obseThe the methods and principles in the applicable Charrties SORP: make judgements and estimates that are reasonable and prudent- state whether applicable accounting standards have been followed,.subjecl to any material departures disclosed and explained in the financial statements.. prepare the financial statements on the going COnM basis unless r( is inappropriate to presume that the charity will continue in busine$$. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any lime the financial position of the chanty and to enable them lo ensure that the financial statements comply with the Charitie5 A¢t 2011. the applicable Charities {Accounts and Reports) Regulations. and the Provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the chanty and financial infom)ation included on the charity's website. Legislation in the United Kingdom goveming the preparation and dissemination of finanrial ststements may differ from legislalion in other Juri$diction$. Approved by the Trustaes on 18 January 2025 and signed on their behalf by: C BANKS Chairman
THE PROTESTANT ALLIANCE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PROTESTANT ALLIANCE I report to the Trustees on my examination of the accounts of The Protestsnt A]liance (Ihe Twst.) for the year ended 31 March 2024, which aTr set out on pages 6 to 14. RESPONSIBILITIES AND BASIS OF REPORT As the Charity's Trustees you are responsible for the preparation of the acwunts of the Trust in accordance with the requirements of the Charilies Act 2011 ('the Act,). I rewrt in respect of my examination of Ihe Trust's accounts carried out under section 145 of the 2011 Act and in canying out my examination I have followed all the applicable Directions given by the Chanty Commi$$ion under section 14515}Ibl of the Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting re¢dS were not kept in respect of the Twst as requir8d by section 130 of the Act; or 2. the accounts do not accord wlh those records; or 3. the accounts do not comply with the applicable requirements conceming Ihe fomi and content of accounts set out in the Charities {Accounls and Report51 Regulations 2008 otherthan any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independenl examination. I have no concerns and have come across no other matters in Connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. .pg M D Smith FCA 47 The Willows Little Harrowden Wellingborough Northants NN9 5BJ 18 January 2025
THE PROTESTANT ALLIANCE STATEMENT OF FINANCIAL ACTIVITIES THE YEAR EN 24 Unrestricted Restricted Funds Income Funds Total Funds 2024 Total Funds 2023 Notss INCOMING RESOURCES Subscriptions. donations and legaues Sale of books and pamphlets Investment inrne 69.880 25 3,576 1,523 71,403 30.546 25 71 4,396 2,725 820 TOTAL INCOMING RESOURCES 73,481 2.343 75.824 33,342 RESOURCES EXPENDED Cost of books and pamphlets for sale Charitsble activrtKgS 35 73.329 35 81.320 110 77,112 7.991 TOTAL RESOURCES EXPENDED 73,364 7.991 81.355 77,222 Not Incom81 {oxpondlturo} for the year 117 15,648) {5,5311 {43.880) Net g8inl(lossl on fixed asset investments 9.842 9,842 {4,276) Transfers b8tW8en funds NET MOVEMENT IN FUNDS for tho year 9.959 {5.6481 4,311 {48,156) RECONCILIATION OF FUNDS Total funds brought forward 215,338 20.836 236.174 284.330 TOTAL FUNDS CARRIED FORWARD 225.297 15,188 240.485 236.174
THE PROTESTANT ALLIANCE BALANCE SHEEf AT 31 MARCH 2024 2024 Total Funds 2023 Total Funds Unrestrirted Fund5 Restricted Income Funds Notes FIXED ASSET5 Tangible Fixed Assets Investment A55ets 26,513 118,569 26,513 118,569 31.308 108.727 Total Flxed Assets 145.082 145.082 140,035 CURRENT ASSETS Stocks io 564 564 599 Debtors Charities Deposit Funds Cash at Bank and in Hand li 1,766 16,372 64,608 299 17,692 12,8031 2,065 34,064 61,805 4,842 17,896 76.385 Totsl Cufrent Assets 83,310 15,188 98,498 99.722 CREDITORS: Amounts falllng due wlthln one year 12 13,0951 13,0951 13.5831 NEf CURRENT ASSErs 80,215 15.188 95.403 96.139 TOTAL ASSETS LESS CURRENT LIABILITIES 225,297 15,188 240.485 236.174 FUNDS OF THE CHARITY Restricted Funds 13 15,188 15,188 20,836 Unrestricted Funds 225.297 225.297 215.338 TOTAL CHARITY FUNDS 225,297 15,188 240,485 236,174 These financial statements were approved by the Trustees on 18 January 2025 and signed on their ehalf by C BANKS Chaiman
THE PROTESTANT ALLIANCE NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES la) Basls of preparatlon and assessment of golng Gonrn The financial $tstements have been prepared under Ihe historical cost cDnvention with rtems recognised at ¢ost or transaction value unless otherwise ststed in the relevant nolelsl to these accounts. The financi81 statements have been prepared in accordance with the Stalemenl of Re¢omm&nded Practice.. Accounting and Reporting by Charities preparing their accounts in accordance wrth the Financ1 Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102} issued on 16 July 2014 and the Financial Rep.ng Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and Ihe Charits'es AGI 2011 and UK Generally A¢¢epted Pra¢ti as it applies from 1 January 2015. The charity constitutes a publi¢ benefit entity as defined by FRS 102. The financial statements have b8en prepared on a going concem basis although the Truslees are aware that present levels of voluntary income excluding legacies are inadequate lo sustain the current levels of expenditure. The Trustees. judgement is that the charity remains a going ncern. Assets and liabilities are initially recognised at historical cost or transadÉon value unless otherwise stated in the retevant accounting Oicy notes. (bl Funds structure The ¢harity has both unrestricted and restricted income funds. Unreslricted income funds compnse Ihose funds whith the Tw$tee$ are free lo use for any purpose in furtherance of the charitable objects. Restn'cted fvnds are funds which are to be used in accordance with specific restrictions imFKised by the donor. Further detsils of each fund are disdosed in note 13. 1¢) Incoma rfrcognltlon All income is recognised once the charity has entitlement to the income. it is probable that the inwme will be received and the amount of income receivable can be measured reliably. Don8tions are recognised when the charity has been notified in writing of both the amunl and settlement date. Legacy gifts are recognised on a case by case basis following the granting of probate when the administratorlexecutor for the estate has communicated in writing the amount and $8tUem&nt date. Interest on fijnds h8ld on deposit is included when ffjceivable and the amount can be measured reliably by the charity.. this is nomally uwn notification of the interest paid or payable by the bank. (d) Expfrndtturo rgGognltlon Liabilities are recognised as expenditure as scon as there is a legal or constructive obligats'on Commffting the charityto that expenditure. il is PTobabl8 that settlement will be required and the amount of the obligation can be measured reliably. AJI expenditure is accounted for on an accruals basis. Al expenditure induding support costs and govemance costs is shoyffl in note 6 und8r apF4icable headings. Irrecoverable VAT is charged as a cost against the activty for which Ihe expenditure was incurred. {0) Allo¢atlon of support and govomance costs Support costs in relation to charitable activrties have been allocated between governance costs and other support costs. Governance cnsls c(Hnprise all costs involving the public accountability of the charity and tts compliance with regulation and gc4)d practice induding costs related to independent examination.
THE PROTESTANT ALLIANCE NOTES TO THE FINANCIAL STATEMENTS R THE YEAR EN AR 24 NTI ACCOUNTING POLICIES (CONTINUED) (fj For8lgn curroncles Assets and liabilities in foreign ojffencies are translated into sterting at the rates of exchange ruling at the balance sheet date. Transactions in foreign CulnCIeS are translated into sterling at an average rale of exchange for the year. Exchange differences are taken into account in arriving at the net surplus or deficit. (g) Tanglblo flx•d assets and doproclatlon All assets o)sting more than £500 are ¢apitalised and valued at historical cost. Depreciation is charged on: plant and equipment {office studio) al 10% per annum on reducing balance plant and equipment {olherl al 250kn per annum ¢)n reducing balance motor vehides at 25% on reducing balance. (h) Flxod ass Investments Some funds of the charity have been invested in a COIF long-tenn investment fijnd. Thls Investment is valued al fair value at the balance sheet dale. Roall$•d galns and losses All gains and losses are taken to the Ststement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference been sales proceeds and their carying value. Unrealised gains and105ses are calculated as the dIffenCe between the fair value at the year end and their carying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. u) Stocks Stocks. comprising books and literature. are valued at fair value. the lower of cost and nel realisable value. Ik) Penslons The charity has operated a defined contribution'money purchase. scheme during the year. The charity contribution Is restricted to Ihe contributions disdosed in note 7. The costs of the defined contribution scheme are included within support costs in note 6. All paid staff are enrolled in the National Employment Superannuatlon Trust (NEST).
THE PROTESTANT ALLIANCE NOTES TO THE FINANCIAL STATEMENTS R THEY ENDED 31 MAR 24 CONTIN Unrestricted Restri¢Xed Funds Funds Total 2024 Totsl 2023 SUBSCRIPTIONS, DONATIONS AND LEGACIES Donations. grfts. and subscriptions (including Gift Aid tsx recoverable) Income from meety'ngs Lega¢i8S 13,779 1.523 15,302 21.641 10,448 45.653 10,448 45,653 £69.880 £1,523 £71.403 £30,546 INVESTMENT INCOME Dividends receivable on investments Interest on cash deposits 3.162 414 3,162 1.234 2.376 349 820 £3.576 £820 £4,396 £2,725 BOOKS AND PAMPHLETS The charity derived income of £25 {2023'. £711 from sales of books and pamph18ts wilh a corressxtrnding 51 of £35 {2023: £110). ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Grants made Govemance costs Support costs 7,991 7.991 500 72,829 500 72.829 77.112 £73,329 £7.991 £81,320 £77.112 10
THE PROTESTANT ALLIANCE NOTES TO THE FINANCIAL STATEMENTS RThEYEARE DED 31 MARCH 2 ONTINUE SUPPORT COSTS Support costs in relation to Charitable activities are given below: _ 2024 2023 GENERAL SUPPORT Stationery. Printing and Postage. Induding "The Reforn)8rf IT costs. Consumable equipment Travel, motor and accommodation Stsff costs {Note 71 Books and reports Premises and office costs Depreciation and losses on disposals Lo{gain) on exchange rale 2.580 1,741 279 7,469 52,226 22 3.912 4,520 80 6.624 1.694 1,076 7.858 50.050 149 3.494 5.921 246 GOVERNANCE Independent examinatron- contrfbution for laptop 500 TOTAL £73,329 £TI.112 STAFF COSTS 2024 2023 Gnjss Salaries Employer's National Insurance Employerfs Pension Contributions {Note 141 48.910 859 2.457 46.806 2,340 £52,226 £68,759 No employee received emoluments in excess of £60.000 during the year. The average monthly head count was 2 staff12023.. 2} and the average number of full-lime equivalent employees (including part-time stam during the year was 1.5 {2023'. 1.5)- Employee b8nefrts in the fonn of a car are provided to the General Secretsry for travel to prea¢hing and lecture engagements and county shows. Private use is allowed but al the individual's own expense. 11
THE PROTESTANT ALLIANCE NOTES TO THE FINANCIAL STATEMENTS TANGIBLE FIXED ASSETS Plant and Equipment Motor Vehide$ Total Cost or Valuation At 1 April 2023 Addrtions Disposals 60,760 50,751 10.009 15601 {560} At 31 March 2024 60.200 50,191 10.009 Deprecialion Al 1 April 2023 Charge for the year Disposals 29.452 4,618 {383) 25.073 3.210 (3831 4.379 1.408 At 31 March 2024 33.687 27.900 5.787 Net Bcd( Value At 31 March 2024 £26,513 £22.291 £4.222 At 31 March 2023 £31.308 £25.678 £5,630 INVESTMENT ASSETS Long-Tem Investment Fair value at 1 April 2023 108.727 Gain on revaluation 9,842 Fair value at 31 March 2024 £118,569 The long-term investment is with Ihe COIF Charities Investment Fund. This investment is liable to fluctuations in value according to market conditions. 12
THE PROTESTANT ALLIANCE NOTES TO THE FINANCIAL STATEMENTS R THE YEAR ENDE AR H 2024 CONTIN ED 2024 2023 10 STOCK Bcx)ks and Literature £564 £599 11 DEBTORS Income Tax Recoverable Other Debtors and Prepaymènts 1.493 572 2.192 2.650 £2.065 £4.842 12 LIABILMES: AMOUNTS FALLING DUE WITHIN ONE YEAR So¢ial Security and other Taxes Accruals 2,343 752 977 £3,095 £3.583 13 RESTRICTED FUNDS At 1 April Incoming Outgoing 2023 Resources Resources At 31 March 2024 Transfers Lithuanian General Fund Protestant Memorial Fund Harding merrial Fund 18.071 2.361 404 2,231 112 {7.991) 12,311 2,473 404 £20,836 £2.343 £{7.991) £15,188 The Lithuanian General Fund was estsblished to provide resources for Wofk withln Lithuania in accordance with the objects of the charity. The Protestant Memorial Fund was originally estsblished as the Oxford Memorial Fund to renovate a Martyrs Memorial in Oxford. The Thomas Harding memrial at Chesham needs to be renovated and the Harding Memorial Fund for this purpose is being deployed in support of a third-paty initiatsve. 13
THE PROTESTANT ALLIANCE NOTES TO THE FINANCIAL STATEMENTS FOR THE ENDED 1MAR TIN ED 14 PENSION SCHEME The charity operated a defined contributton gcheme during the year. Th& assets of the scheme are held separately from those of the charity in independenlty administered funds. The employerfs pension conlributsons paid during the year amounted to £2.45712023.' £2.3401. The charity had no material outstanding obligations al the year end. 15 TRANSACTIONS WITH TRUSTEES No trustee received remuneralion or reimbursemenl of expenses during the year12023: nil). 16 CONTINGENT ASSETS The charty has been notified that it is the b&neficiary under wills of people who have died recenlly. However. at the present bme it is not practicable to quantify all the amounts which might ultimately eventuate to the charity. 14