| Legal and | administrative information for the year ended 31 March 2023... |
... 1 |
|---|---|---|
| Trustees' | report for the year ended 31 March 2023 | 2-3 |
| Auditors' | report for the year ended 31 March 2023. | . 4-6 |
| Statement | offinancial activities for the year ended 31 March 2023 |
. 7 |
| Balance Sheet as at 31 March 2023.. | 8 | |
| Statement | ofcash flows . | 9 |
| Notes to the financial statements for the year ended 31 March 2023 |
10-14 |
| General | General | |||
|---|---|---|---|---|
| Funds | Funds | |||
| 2023 | 2022 | |||
| Notes | ||||
| Income &expenditure | ||||
| Incoming Resources | ||||
| Trading Income |
||||
| -Other rent received | 4,800 | 5,900 | ||
| -Rent from Banner ofTruth, USA | 54,890 | 29,940 | ||
| -Donations and Legacies |
1,274,743 | |||
| -Bank interest | 1,197 | 1,848 | ||
| Investment income |
||||
| —Dividends | 17,296 | |||
| Total Incoming Resources | 1,335,629 | 54,984 | ||
| Resources expended | ||||
| Other Expenditure | ||||
| -Professional fee charges |
5,380 | 2,075 | ||
| - Property expenses | 9,935 | 10,396 | ||
| - Depreciation | 40,967 | 13,785 | ||
| -General expenses | 25 | |||
| -Loss on Disposal | 4,495 | |||
| Total Resources Expended | 60,777 | 26,281 | ||
| Net Incoming Resources | for the year | 1,274,852 | 28,703 | |
| Gain on Foreign Currency | Exchange | 184,313 | 111,554 | |
| Unrealised gain on investments |
141,325 | |||
| Net movement in funds for the year |
1,459,165 | 281,582 | ||
| Reconcllation of Funds |
||||
| Balance brought forward at 1 April 2022 |
31295,476 | 3,013,894 | ||
| Balance carried forward | at 31 March 2023 | 4,754,641 | 3,295,476 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| E | ||||
| Fixed Assets | ||||
| Tangible fixed | assets | 3,654,379 | 1,671,128 | |
| Investments | ||||
| 3654,379 | 1,671,128 | |||
| Cunent Assets | ||||
| Debtors | ||||
| Short term de | osits | 1,217,526 | 2072871 | |
| 1,217,526 | 2,072,871 | |||
| Current llabllltles | ||||
| Creditors | 117464 | |||
| Net currerit assets | 1 100262 | 1 624349 | ||
| Net assets | 4,754,641 | |||
| Representlng:- | ||||
| Trust Funds | - General Fund | |||
| Accumulated | revenue su | lus | 4,754,641 | 3,295,47? |
| These Inancial statements | were approved | by the Trustees on 3June 2024 and signed | on their behalf by: | |
| Warren Peei | ||||
| Trustee |
| Total | Prior | |||||
|---|---|---|---|---|---|---|
| Funds | Funds | |||||
| 2023 | 2022 | |||||
| Notes | ||||||
| Net cash used in operating | activities | 1,172,167 | 561,792 | |||
| Cash flows from investing | activities: | |||||
| Interest and dividends | 1,197 | 19,144 | ||||
| Purchase offurniture and equipment |
(2,272,683) | (1,353,039) | ||||
| Proceeds from sale ofinvestments | 2,238,742 | |||||
| Proceeds from sale of property | 243,973 | |||||
| Net cash provided b investing |
activities | (2,027,513) | 904,847 | |||
| Change in cash and cash |
equivalents | in the year | (855,346) | 1,466,639 | ||
| Cash and cash equivalent brought |
forward | 2,072,871 | 606,232 | |||
| Cash and cash equivalents | carried forward | 1,217,525 | 2,072,871 |
| Heritable | Fixtures | |||
|---|---|---|---|---|
| Property | and fittings | Total | ||
| Cost | ||||
| At 1 April 2022 | 2,042,288 | 2,042,288 | ||
| Additions | 2,272,683 | 2,272,683 | ||
| Disposal | (390,482) | (390,482) | ||
| At 31 March 2023 | 3,924,489 | 3,924,489 | ||
| Depreciation | ||||
| At 1 April 2022 | 371,160 | 371,160 | ||
| Eliminated on Disposal |
(142,017) | (142,017) | ||
| Charge for the year | 40,967 | 40,967 | ||
| At 31 March 2023 | 270,110 | 270,110 | ||
| Net BookValue | ||||
| At 31 March 2023 | 3,654,379 | 3,654,379 | ||
| Net Book Value | ||||
| At 31 March 2022 | 1,671,128 | 1,671,128 | ||
| There is likely to be a material | difference between the carrying and market value ofthe property. As the properties |
have not | ||
| been valued it is not practicable |
to quantify | the difference. |
| There is likely to be a material difference between the carrying and mar been valued it is not practicable to quantify the difference. 4 Investments |
ket value ofthe property. As the | properties have not |
|---|---|---|
| 2023 | 2022 | |
| r | ||
| Market value at 1 April 2022 | 2,097,417 | |
| Increase/(decrease) in market value during the year |
141,325 | |
| Disposals | 2,238,742) | |
| Market Value at31 March 2023 | ||
| Historical cost at 31 March 2022 | ||
| 5 Debtors |
||
| Amounts falling due within one year: |
||
| 2023 | 2022 | |
| f | ||
| Other Debtors |
| Amounts | falling due within one year: | ||
|---|---|---|---|
| 2023 | 2022 | ||
| f | |||
| Accruals | 25,359 | 301,717 | |
| Banner | ofTruth Trust | 91,905 | 146,805 |
| 117,264 | 448,522 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| 6 | ||||||
| Net movement | In funds | 1,459,165 | 281,582 | |||
| Add back depreciation | charge | 40,967 | 13,785 | |||
| Add back loss | on disposal offixed assets | 4,495 | ||||
| Deduct interest income | shown | in investing | activities | (1,197) | (19,144) | |
| Deduct gains/ | add back | losses on investments | (141,325) | |||
| (Decrease)/Increase in |
creditors | (331,263) | 426,894 | |||
| Net cash used | in operating activities |
1,172,167 | 561,792 |