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2022-03-31-accounts

DEO GLORIA TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

Trustees D H Frampton R Carswell A Wingfield Digby J Duffin

Charity number 243305

DEO GLORIA TRUST FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

Contents Page
Report of the Trustees 1-4
Report of the Auditors 5-7
Consolidated Statement of Financial Activities 8
Consolidated Balance Sheet 9
Balance Sheet 10
Notes to the Financial Statements 11-16

DEO GLORIA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022

The trust is registered as a charity under reference number 243305.

The trustees during the year and to the date of signing the report were:

Mr D H Frampton (Chairman) Mr R Carswell Mrs L J Murdoch (resigned 21 November 2022) Mr J Duffin Mr A Fry (appointed 12 February 2022, resigned 31 August 2022) Rev A Wingfield Digby (resigned 24 May 2022, re- appointed 24 November 2022)

Key Management Personnel: The trustees, Mr E Thompson and Mr A Fry Registered Office 11 Dormer Place, Leamington Spa, CV32 5AA

The principal professional advisers to the trust are:

Bankers: National Westminster Bank plc 143 High Street Bromley Kent BR1 1JD Property Managers: Baxter Philips Northside House 69 Tweedy Road Bromley Kent BR1 3WA Solicitors : Lawson Lewis & Blakers 11 Hyde Gardens Eastbourne East Sussex BN21 4PP Auditor : Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM1 2SW

Page 1

DEO GLORIA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022

Structure, governance and management

The Deo Gloria Trust was created by a trust deed dated 27th March 1965.

Trustees are to be appointed by the continuing trustees.

Training is be provided to new trustees as appropriate having regard to their existing knowledge and experience as trustees.

The day to day management of the trust’s affairs has been delegated to the director of the trust, Mr E J Thompson and the Executive Officer Mr A Fry

Decisions on matters of policy and grants to beneficiaries are made by the trustees either at meetings (physical or virtual) of the trustees or through correspondence between them.

Risk Management

The trustees have considered the levels of various risks relating to the activities of the trust and the investments held to fund those activities. They are satisfied with the arrangements made to minimise, mitigate and insure against those risks but have agreed to keep the situation under regular review.

Consolidation

The Trust has a wholly-owned subsidiary, Outreach Properties Limited, which manages properties and acts as nominee holder for the properties of the Trust. The results for the year ended 31st March 2022 have been consolidated on a line by line basis into these financial statements.

Outreach Properties Ltd had net assets of £562 at the balance sheet date. The trustees consider performance to be satisfactory.

There are no connected charities.

Objectives and activities

Objects

The objects of the trust are to seek the glory of God by encouraging the furtherance and preaching of the gospel of our Lord Jesus Christ.

Policies

The trustees seek to achieve the objects of the trust by the production and promotion of literature, providing a Contact Service for enquirers and by making gifts to Christian societies and missionaries.

Public benefit

The trustees have taken into account the Charity Commission’s general guidance on public benefit and the specific guidance on the advancement of religion. Through the work of Christian Enquiry Agency we seek to provide a service to all people who are seeking to find out more about Christianity for themselves.

Page 2

DEO GLORIA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022 (continued)

Achievements and performance

The trust continues to work along-side many other Christian Agencies, and has continued to support outreach projects through, grants to fund work carried out by other charitable groups across the UK and abroad.

We continue to distribute two booklets, So, Who is this Jesus? And On Your Marks through our suppliers, Verite CM.

The trust continues to support the Christian Enquiry Agency and their web site Christianity.org.uk. Upon the closure of the office in 2020, the trustees decided to only be a “grant making trust” which reduced the number of staff and office space required. The trust has now moved to Leamington Spa upon the appointment, in September 2022, of Mr A Fry as the Executive Officer. After many successful years as Director, Mr E Thompson will retire at the end of 2022.

The trust continues to work in partnership with several other like-minded groups and to act as an “introducer” for those seeking to undertake a new project along similar lines and is looking at how best to work with them going forward.

Financial review

Details of the financial position of the trust are set out on pages 8 to 16 and incorporate a revaluation of the trust's investments and investment properties to show the trustees' assessment of the market value of those assets at 31st March 2022.

The trust's major source of income is from properties and investments. Income from this source for the year was £433,880 (2021: £405,742). The cost of raising funds including expenses of maintaining and managing the properties and investments amounted to £56,263 (2021: £39,450).

Expenditure on charitable activities amounted to £364,142 (2021: £448,973). income for the year exceeded expenditure by £8,074 (2021: £60,121 deficit). After including a gain on investment assets amounting to £1,060,652 (2021: £41,955), there was a net increase in trust funds of £1,076,016 (2021: decrease of £18,166)

The income of the trust and expenditure on activities and grants was broadly in line with the budgeted objectives for the year.

Reserves Policy

Income from investments is used in the year in which it arises to finance the activities of the trust and grants made. Funds arising from sale or revaluation of investments are generally retained to ensure an adequate level of income to cover the future activities of the trust.

Investment Policy

The trustees hold a substantial portfolio of investment properties which were received on liquidation in exchange for shares transferred to the trust by the settlor. These properties have provided a steadily increasing income over the years with substantial capital appreciation. The trustees have taken opportunities to dispose of certain properties on advantageous terms and invested the proceeds with Newtons and M&G Charifund to diversify the investment portfolio. All properties and listed investments are managed by professional advisers. Investments in unlisted companies are restricted to those whose activities are in accordance with the objects of the trust.

The trustees oversee the financial activities through an agreed budget. The director and executive officer supervise the day-to-day management of financial activities and report on any significant variations from anticipated results.

Page 3

DEO GLORIA TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022 (continued)

Grant Policy

All applications for a grant must be for projects which initiate or support activities which promote the Gospel of our Lord Jesus Christ. Grants are usually given in the range of £500 to £10,000 but exceptions are made from time to time where there is an ongoing relationship between the Trust and the Grant Requesting Body.

Plans for future periods

The trustees propose to assist in the development of new projects in co-operation with other Christian agencies involving modern methods of communication (Apps, Video, Web Site etc.).

Trustees’ responsibilities

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources of the trust for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

FOR AND ON BEHALF OF THE TRUSTEES

D H Frampton

Date: 25 November 2022

Page 4

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF DEO GLORIA TRUST

Opinion

We have audited the financial statements of Deo Gloria Trust (the “Charity”) and its subsidiary (the “Group”) for the year ended 31 March 2022 which comprise the consolidated statement of financial activities, the consolidated and parent balance sheets, the consolidated cash flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Group and parent Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group’s and Charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 5

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF DEO GLORIA TRUST (continued)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Group’s and the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Group or Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the group, we identified that the principal risks of non-compliance with laws and regulations related to financial reporting legislation, lettings legislation and property health & safety regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team.

We determined that the principal risks were related to valuation of freehold investment property, presentation of separately disclosed items and management override of controls.

Page 6

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF DEO GLORIA TRUST (continued)

In response to the risks identified we designed procedures which included, but were not limited to: challenging the valuation of investment property, agreeing financial statement disclosures to underlying supporting documentation and evaluating the charity’s internal controls.

There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Group’s and Charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Group’s and Charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Group and Charity and their trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Jacob Cavenagh & Skeet Statutory Auditor 5 Robin Hood Lane Chartered Accountants Sutton Surrey SM1 2SW

Dated: .........................

Jacob Cavenagh & Skeet is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page 7

DEO GLORIA TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022

Note
Income from:
Investment income
2
Other
Total income
Expenditure on:
Raising funds
Investment management costs
Charitable activities
3
Total expenditure
Net gains on investment assets
Net income/(expenditure)
Reconciliation of Funds:
Total funds brought forward
Total funds carried forward		 2022
£
433,880
1,889
435,769
56,263
364,142
427,695
1,060,542
1,076,016
6,945,668
8,021,684		 2021
£
405,742
22,560
428,302
39,450
448,973
488,423
41,955
(18,166)
6,963,834
6,945,668

Page 8

DEO GLORIA TRUST

CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH 2022

Note
Fixed assets
Tangible assets
6
Investments
7
Current assets
Stocks
Cash at bank and in hand
8
Debtors and prepayments
9
Creditors: Amounts falling due
within one year
10

Net current assets
Net assets
Unrestricted Trust Fund		 2022
£
£
500,701
7,361,995
7,862,696
2,037
240,259
44,974
287,270
(128,282)

158,988
8,021,684
8,021,684		 2021
£
£
500,920
6,244,053
6,744,973
3,500
289,399
61,543
354,442
(153,747)
200,695
6,945,668
6,945,668

The financial statements were approved by the trustees on 25 November 2022 and signed on their behalf by:

D H FRAMPTON

Page 9

DEO GLORIA TRUST

BALANCE SHEET AS AT 31ST MARCH 2022

Note
Fixed assets
Tangible assets
6
Investments
7
Current assets
Stocks
Cash at bank and in hand
8
Debtors and prepayments
9
Creditors: Amounts falling due
within one year
10

Net current assets
Net assets
Unrestricted Trust Fund		 2022
£
£
500,701
7,363,595
7,864,296
2,037
147,474
75,634
225,145
(66,722)
158,423
8,022,719
8,022,719		 2021
£
£
500,920
6,245,653
6,746,573
3,500
124,212
139,822
267,534
(67,403)
200,131
6,946,704
6,946,704

The financial statements were approved by the trustees on 25 November 2022 and signed on their behalf by:

D H FRAMPTON

Page 10

DEO GLORIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

1 ACCOUNTING POLICIES

(a) Accounting convention

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities’ Statement of Recommended Practice (Charities SORP (FRS 102) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting, as modified by the revaluation of fixed asset investments. The financial statements are prepared in pounds sterling, rounded to the nearest pound. The financial statements are prepared on a going concern basis and there are no material uncertainties about the charity’s ability to continue.

Deo Gloria Trust meets the definition of a public benefit entity under FRS 102.

(b) Consolidation

The consolidated accounts include the results of the wholly owned subsidiary and have been consolidated on a line by line basis.

(c) Depreciation

The trustees consider that the residual value of the freehold property is sufficiently high to render any depreciation immaterial and accordingly no depreciation is charged in these accounts. Depreciation is provided on all other tangible fixed assets at rates calculated to write off the cost of each asset over its expected useful life as follows: Office equipment – 30% reducing balance

(d) Income

All income is accounted for when it is receivable.

(e) Expenditure

(f) Stocks

(g) Investments

Listed investments are shown at market value. Investment properties are shown at trustees’ valuation. Changes in market value are shown as unrealised gains and losses in the statement of financial activities.

(h) Debtors

Tax recoverable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

(i) Cash and current asset investments

Cash and current asset investments includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

(j) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

(k) Deferred income

Income that has been received but not yet earned in respect of rent is treated as deferred income.

Page 11

DEO GLORIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 (continued)

2
INVESTMENT INCOME (All UK)
Investment properties
Listed investments
3
CHARITABLE ACTIVITIES –
Activities
Grant
undertaken
funding
directly
of activities
£
£
Ministry
2,874
201,975
Education
-
15,500
Help/support activities
-
79,100
2,874
296,575
Support costs comprise:
Staff costs
Office expenses
Property and equipment
Audit and accountancy
4
GRANTS TO INSTITUTIONS
Evangelism:
24/7 Prayer
10 of Those
Al Massira Trust
Altitude Mission
Arab World Ministries
Association of Evangelists
Christian Vision for Men
Christian Television Association
Christians in Sport
Church Army
Creation Fest
Crown Jesus
Day One
Eden People
Edge Christian Ministries
Eurasian Ministries
Gideons International
Glencroft Church
Hope
International Needs
Kick London
Kidz Klub
Leading the Way
London Institute for Contemporary Christianity		 Support
costs
£
44,058
3,381
17,254
64,693		 2022
£
349,579
84,301
433,880
2022
£
248,907
18,881
96,354
364,142
34,827
7,986
22,715
6,455
64,693
2022
£
10,000
10,000
5,000
5,000
3,000
20,000
3,000
-
5,000
-
5,000
-
-
3,450
2,500
-
-
-
-
-
-
-
-
2,500		 2021
£
340,272
65,470
405,742
2021
£
374,673
21,700
52,600
448,973
12,505
1,595
8,294
6,185
28,579
2021
£
-
10,000
3,000
3,000
-
22,000
-
23,000
-
3,000
-
3,500
5,000
-
3,000
5,000
5,000
5,000
3,000
3,000
5,000
5,000
5,000
6,500

Page 12

DEO GLORIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 (continued)

4 GRANTS TO INSTITUTIONS (continued)

Middle East Media
Missional Generation
New Creations
Operation Mobilisation
Parish of St Matthew: Christian Farming Link
People International
Pocket Testament League
SASRA
SAT 7
Share Jesus International
Slavic Gospel
Sportsreach
Starfish Asia
Starfish Malawi
St Peter’s Chertsey
The Message Trust
UFM
United Beach Mission
Wycliffe Bible Translators
Other grants under £3,000 each
Education:
Biblica Europe Ministries Trust
Family Trust
PAIS
Scripture Union
Other grants under £3,000 each
Help and Support:
All Nations
Christian Enquiry Agency
Christian Heritage
Christian Youth Enterprises
CMI Aid
Cult Information Centre
Dialog Centre UK
Discipleship Tech
Hand of Help
International Aid Trust
Kerygma 180
London Underground Church
Off the Fence
PCC Southbourne
Symphony Consort
Yeldall Manor
Young Life UK
Other grants under £3,000 each
Total		 2022
£
10,000
-
10,000
10,000
3,000
9,000
5,000
10,000
-
-
25,000
-
4,000
5,000
-
3,000
-
-
5,000
28,525
201,975
5,000
3,000
-
5,000
2,500
15,500
-
6,000
3,000
5,000
10,000
-
-
3,000
5,000
5,000
5,000
5,000
-
5,000
5,000
5,000
3,000
14,100
79,100
296,575		 2021
£
-
5,000
6,500
-
-
-
-
10,000
6,500
6,000
-
12,500
-
-
3,000
-
5,000
5,000
6,500
70,500
254,500
-
-
3,200
-
17,500
20,700
5,000
6,000
-
5,000
-
5,700
7,500
-
-
-
-
-
4,500
-
-
-
-
17,900
51,600
326,800

Page 13

DEO GLORIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 (continued)

5
EMPLOYEES' AND TRUSTEES' (MINISTRY) TRANSACTIONS
Gross salaries
Employer’s national insurance
Pension costs
The average number of employees during the year was:
There were no employees with emoluments over £60,000 in the year.		 2022
£
34,642
139
-
34,781
2022
No.
1		 2021
£
60,586
1,937
-
62,523
2021
No.
2

The employee benefits of Key Management Personnel in the year were £32,687 (2021: £47,494).

None of the trustees received remuneration from the charity during the year.

6
TANGIBLE ASSETS
Group and Trust
Cost at 1st April 2021
Additions
At 31st March 2022
Depreciation
At 1st April 2021
Charge for the year
At 31st March 2022
Net book value
At 31st March 2022
At 31st March 2021
7
INVESTMENTS
(a)
Group
Market value
At 1st April 2021
Additions
Disposals
Net gains/(losses) on revaluation
At 31st March 2022
Investment properties (all UK)
Listed investments (all UK)
Historical cost		 Freehold
Property
Equipment
Total
£
£
£
500,000
1,832
501,832
-
-
-
500,000
1,832
501,832
-
912
912
-
219
219
-
1,131
1,131
500,000
701
500,701
500,000
920
500,920
2022
2021
£
£
6,244,053
6,346,066
220,000
-
( 170,000)
( 155,000)
1,067,942
52,987
7,361,995
6,244,053
5,168,500
4,708,000
2,193,495
1,536,053
7,361,995
6,244,053
3,374,817
3,155,756

Page 14

DEO GLORIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 (continued)

7 INVESTMENTS (continued)

(b) Trust

t
2022 2021
Market value £ £
At 1st April 2021 6,245,653 6,347,666
Additions 220,000 -
Disposals ( 170,000) ( 155,000)
Net gains on revaluation 1,067,942 52,987
At 31st March 2022 7,363,595 6,245,653
Investment properties (all UK) 5,168,500 4,708,000
Listed investments (all UK) 2,193,495 1,536,053
Subsidiary undertakings (UK) 1,600 1,600
7,363,595 6,245,653
Historical cost 3,374,917 3,155,756

The market value of investment properties is based on a valuation provided by Baxter Philips, Chartered Surveyors FRICS.

The subsidiary undertaking is Outreach Properties Ltd. Its principal activity is acting as nominee for the charity. At 31st March 2022 it had net assets of £562 and its result was £nil for the year.

8

9

CASH AT BANK AND IN HAND
(a)Group
Cash at bank
Cash in hands of agents
(b)Trust
Cash at bank
Cash in hands of agents
DEBTORS AND PREPAYMENTS
(a)Group
Trade debtors
Other debtors
Prepayments and accrued income
(b)Trust
Trade debtors
Other debtors
Due from subsidiary
Prepayments and accrued income		 2022
£
165,875
74,384
240,259
73,090
74,384
147,474
2022
£
11,566
22,513
10,895
44,974
11,566
22,513
30,660
10,895
75,634		 2021
£
208,666
80,733
289,399
43,479
80,733
124,212
2021
£
16,874
33,318
11,351
61,543
16,874
33,318
78,279
11,351
139,822

Page 15

DEO GLORIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022 (continued)

10
CREDITORS: Amounts falling due within one year
(a)Group
Other creditors
Accruals
Deferred income
(b)Trust
Accruals
Deferred income
Deferred income
Opening balance
Rents relating to current year
Rents relating to future periods
Closing balance		 2022
£
86,350
6,420
60,302
153,072
6,420
60,302
66,722
2022
£
61,283
(61,283)
60,302
60,302		 2021
£
86,344
6,120
61,283
153,747
6,120
61,283
67,403
2021
£
65,757
(65,757)
61,283
61,283

11 LEASING COMMITMENTS

Operating leases

The total future minimum lease payments under operating leases at 31 March 2022 were payable as set out below:

Within one year
Within two to five years		 2022
£
27,084
-
27,084		 2021
£
27,084
27,084
54,168

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