##
##
##
##
|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|