| Page | |||
|---|---|---|---|
| Reference and administrative details |
|||
| Report ofthe trnstees | 2 | to | 4 |
| Report ofthe independent anditors |
5 | to | 7 |
| Statement offinancial activities | |||
| Balance sheet | |||
| Cash flow statement | 10 | ||
| Notes tothe cash flow statement | |||
| Notes to the financia statements | 12 | to | 22 |
| Detailed statement offmanciai activities | 23 | to | 24 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unr estricted | Total | ||||
| fund | funds | ||||
| Notes | |||||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 43/51 | 118,765 | |||
| Charitable activities |
|||||
| Sales ofBibles and Christian | Literature | 6/$5/50 | 5,578,657 | ||
| Investment income |
79,811 | 67,081 | |||
| Other income | ~00 | 13,615 | |||
| Total | 6/16,812 | 5,778,118 | |||
| EXPENDITURE ON | |||||
| Raising funds | 66,833 | 49,100 | |||
| Charitable activities |
|||||
| Sales ofBibles and Christian | Literature | 6,915,59$ | 5,775,953 | ||
| Total | 6,982,431 | 5,825,053 | |||
| NET INCOME/(EXPENDITURE) | (465,619) | (46,935) | |||
| RECONCILIATION | OFFUNDS | ||||
| Total funds brought fonvard | 2,8528582,899,293 | ||||
| TOTAL FUNDS CAIUOED | FORWARD | 2386,739 | 2,852,358 |
| 2023 | 2PZ'2 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | hinds | ||
| Notes | |||
| FD'.K9ASSETS | |||
| Tangible assets Irtvistntents |
13 14 |
1,685,932 | 1,719.959 2 |
| I,68$,932 | 1,719/61 | ||
| CUjmRXI' ASSETS | |||
| St ks Debtors Cash atbank and inband |
I,'734,367 687,693 Sl,898 |
1;695:,139 $95,110 133,758 |
|
| 2403t918 | '2,424,007 | ||
| CREDITORS | |||
| /4nounts. faBing duc within one ycat | (I,276,642) | (I,tb5,141) | |
| NET CURRENT ASSETS | 1,2)7,276 | 1+6,8,866 | |
| TOTAL ASSETSLESSCURRENT | |||
| WABILITKS | 2,913308 | 3,088,827 | |
| CREDITORS | |||
| Amoqnb falting due after more than one year |
l8 | (526&69) | ('236,469) |
| NET ASSETS | 2,,386,739 | 2,852,358 | |
| FUNDS | |||
| Unrestricted funds |
2/86,739 | 2,852/S8 | |
| TOTAL FUNDS | 2@86,739 | 2',8S:2,358 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Cash flows from operating activities |
|||||
| Cash generated from operations |
(216,696) | (296,303) | |||
| Net cash used in operating | activities | (216,696) | (296,303) | ||
| Cash fiows from investing | activities | ||||
| Purchase oftangible fixed Interest received |
assets | (10s213) 50 |
(17,960) | ||
| Net cash used in investing | activities | (10s163) | (17,960) | ||
| Cash flows from financing | activities | ||||
| New loans in year Loan repayments iu year |
185,000 (10,001) |
405,000 (34,167) |
|||
| Net cash provided by financing activities |
174/99 | 370,833 | |||
| Change in cash and cash equivalents | in | ||||
| the reporting period Cash and cash equivalents |
at the | (51,860) | 56,570 | ||
| beginning ofthe reporting | period | 133,758 | 77,188 | ||
| Cash and cash equivalents | at the end | of | |||
| the reporting period | 81,898 | 133,758 |
ACTIVITIES |
|||
|---|---|---|---|
| 2023 | 2022 | ||
| Net expenditnre for the reporting |
period (asper the Statement of | ||
| financial activities) Adjnsttnents for: |
(465,619) | (46,935) | |
| Depreciation charges |
44,241 | 42,329 | |
| Interest received (Increase)/decrease in stocks Increase in debtors Increase/(decrease) in creditors |
(50) (39428) (92)543) 336403 |
197,681 (206,119) (283,259) |
|
| Net cash nsed in operations | (216,696) | (296,303) | |
| ANALYSIS OF CHANGES IN NET DEBT | |||
| At 1.4.22 | Cash flow | At312.23 | |
| Net cash | |||
| Cash at bank and in hand | 133,758 | (51,860) | 81,898 |
| 133,758 | (51/60) | 81,898 | |
| Debt | |||
| Debts falling due within 1year Debts falling due after 1 year |
(214/64) (236,469) |
115,000 (290,000) |
(99,364) (526)469) |
| (450,833) | (175,000) | (625,833) | |
| Total | (317,075) | (226,860) | (543,935) |
| DONATIONS AND LEGACIES |
||
|---|---|---|
| 2023f | 2022 | |
| Donations | 43/51 | 82,425 |
| Exceptional item (see note 11) | 36,340 | |
| 43,251 | 118,765 | |
| INVESTMENT INCOME | ||
| 2023 | 2022 | |
| Rents received | 47,122 | 33,671 |
| Service charges received | 32,639 | 33,410 |
| Interest receivable | 50 | |
| 79,811 | 67,081 |
| 4. | INCOME | FROM | CHAIUTAB | LE ACTIVITIES | |||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| Activity | |||||||
| Wholesale | sales | Sales ofBibles and Christian | Literature | 5,025,661 | 4,462,826 | ||
| Mission worship conference Online sales |
Sales ofBibles and Christian Sales ofBibles and Christian |
Literature Literature |
9,469 1447,110 |
(4,719) 1,116,840 |
|||
| Royalties | income | Sales ofBibles and Christian | Literature | 3,110 | 3,710 | ||
| 6/85/50 | 5,578,657 | ||||||
| 5. | RAISING | FUNDS | |||||
| Raising donations | and legacies | ||||||
| 2023 | 2022 | ||||||
| Advertising | 66,833 | 49,100 | |||||
| 6, | CHARITABLE ACTIVITIES | COSTS | |||||
| Support | |||||||
| Direct | costs (see | ||||||
| Costs | note 7) | Totals | |||||
| Sales ofBibles and | Christian Literature | 6,126@62 | 789,236 | 6,915@98 |
| Year | ended | |||
|---|---|---|---|---|
| Year ended 31.3.23 | 3L322 | |||
| Sales ofBibles and | ||||
| Christian | Sales ofBibles and | |||
| Literature | Christian | Literature | ||
| Rent, rates | &utilities | 48,915 | 56,435 | |
| Telephone | 10,945 | 15,214 | ||
| Repairs | 18+29 | 26,590 | ||
| Insurance | 21,114 | 19,398 | ||
| Cleaning Travel &motor expenses |
10,839 34,694 |
9,332 20,928 |
||
| Event costs | 23,700 | 10,271 | ||
| Advertising Printing & |
&promotion stationery |
113,147 6,931 |
63,685 4,113 |
|
| Subscription | and donations | 6,882 | 3,029 | |
| Credit card | charges | 7,649 | 6,277 | |
| Tranlnlg costs | 843 | 830 | ||
| Bad and doubtful debts Computer licencing &maintenance |
3,778 86,148 |
9,630 70,687 |
||
| Equipment | maintenance | 8,744 | 5,304 | |
| Welfare expenses | 8,858 | 6,580 | ||
| International office field contribution Bank charges |
31,706 24,762 |
39,413 22,018 |
||
| Sundry | 8,857 | 7,335 | ||
| Management | recharges - CLC UK | (8,400) |
| SUPPORT COSTS - contkaued | ||
|---|---|---|
| Interest on CLC loan Depreciation oftangible axed assets |
5,212 44,241 |
42,329 |
| 518894 | 439,398 |
| Governan | ce | costs | |||||
|---|---|---|---|---|---|---|---|
| Year Ended | Year Ended | ||||||
| 313.23 | 319.22 | ||||||
| Sales | ofBibles | Sales | ofBibles | ||||
| and Christian | and Christian | ||||||
| Literature | Literature | ||||||
| Salaries | 229/64 | 231403 | |||||
| Auditors' | rcinuneration | 16/00 | 15,500 | ||||
| Legal and | professional | fees | 12,430 | 6,767 | |||
| Conferences | &trustee | meetings | 4,148 | (3,464) | |||
| 262,442 | 257,234 | ||||||
| NET INCOME/(EXPENDITURE) | |||||||
| Net income/(expenditure) | is stated after charging/(crediting): | ||||||
| 2023 | 2022 | ||||||
| Auditors' | remuneration | 16@00 | 15,500 | ||||
| Depreciation | -owned assets | 44,240 | 42,329 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Employment | costs | |||||
| Wages and salaries | 1,002,615 | 886,563 | ||||
| Social security costs | 70,080 | 70,063 | ||||
| Other pension | costs | 22,810 | 23,163 | |||
| 979,789 | ||||||
| The average monthly | number ofemployees | during the year was as follows: | ||||
| 2023 | 2022 | |||||
| Full time and | part time | 49 | 45 | |||
| No employees | received emoluments | in excess off60,000. |
| COMPARATIVES FOR T | HK STATEMENT OF FINANCIAL ACT | IVITIES |
|---|---|---|
| Unrestricted | ||
| fund | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 118,765 | |
| Charitable activities |
||
| Sales ofBibles and Christian | Literature | 5,578,657 |
| Investment income Other income |
67,081 13,615 |
|
| Total | 5,778,118 | |
| EXPENDITURE ON | ||
| Raising funds | 49,100 | |
| Charitable activities |
||
| Sales ofBibles and Christian | Literature | 5,775,953 |
| Total | 5,825,053 | |
| NKT INCOME/(EXPENDITURE) | (46,935) |
| 12. | COMPARATIVES | F | ORTHK STATEMENT OFFI | NANCIAL ACTIVITIE | S -continued | |
|---|---|---|---|---|---|---|
| Unrestricted | ||||||
| fund | ||||||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | forward | 2,899,293 | ||||
| TOTAL FUNDS CARRIED FORWARD | 2,852,358 | |||||
| 13. | TANGIBLE FIXED | ASSETS | ||||
| Improvements | ||||||
| Freehold | to | Plant and | ||||
| property | property | machinery | ||||
| COST | ||||||
| At 1 April 2022 | 1,407,176 | 258,019 | 23,915 | |||
| Additions | 3,263 | |||||
| At 31March 2023 | 1,407,176 | 258,019 | 27,178 | |||
| DEPRECIATION | ||||||
| At 1April 2022 | 33,078 | 16+&4 | ||||
| Charge for year | 14,479 | 2,110 | ||||
| At 31March 2023 | 47/57 | 1&@94 | ||||
| NET BOOK VALUE | ||||||
| At 3I March 2023 | 1,407,176 | 210,462 | 8,784 | |||
| At 31March 2022 | 1,407,176 | 224,941 | 7,631 | |||
| Fixtures | ||||||
| and | Computer | |||||
| ettings | equipment | Totals | ||||
| COST | ||||||
| At I April 2022 | 113/66 | 42/16 | 1,844,692 | |||
| Additions | 6,950 | 10,213 | ||||
| At 31March 2023 | 113,366 | 49,166 | 1,854,905 | |||
| DEPRECIATION | ||||||
| At 1 April 2022 | 48,478 | 26,893 | 124,733 | |||
| Charge for year | 19,214 | 8,437 | 44+40 | |||
| At 31 March 2023 | 67,692 | 35,330 | 168,973 | |||
| NET BOOK VALUE | ||||||
| At 31March 2023 | 45,674 | 13,836 | 1,685/32 | |||
| At 31March 2022 | 64,888 | 15,323 | 1,719,959 |
| Interest in | |
|---|---|
| groupunder | |
| takings f |
|
| MARKET VALVE | |
| At 1 ApB12022 | 2 |
| Disposals | (2) |
| At 31March 2023 | |
| NET BOOK VALUE | |
| At 31March 2023 | |
| At 31 March 2022 |
| STOCKS | ||
|---|---|---|
| 2023 | 2022 | |
| f | f | |
| Stocks | 1,734/67 | 1,695,139 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| f | |||||
| Trade | debtors | 617,&22 | 539,502 | ||
| Other | debtors | and | prepayments | 6&$07 | 47,248 |
| VAT | 1,524 | 8,360 | |||
| 687,653 | 595,110 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| Bank loans and overdraAs (see note 19) | 9/64 | 9,364 | ||
| Other loans (see note 19) | 90,000 | 205,000 | ||
| Trade creditors | 926)644 | 681,711 | ||
| Social security and other taxes | 20,535 | 16,019 | ||
| Sundry creditors and accruals | 230,099 | 143,047 | ||
| I/76,642 | 1,055,141 | |||
| 18. | CREDITORS: AMOUNTS FALLING DUE AFTERMORE THAN ONE | YEAR | ||
| 2023 | 2022 | |||
| Bank loans (see note 19) | 26,469 | 36,469 | ||
| Other loans (see note 19) | 500,000 | 200,000 | ||
| 526,469 | 236,469 | |||
| 19. | LOAIVS | |||
| An analysis ofthe maturity ofloans is given below: | ||||
| 2023 | 2022 | |||
| Amounts falling due within one year on demand: |
||||
| Bank loans | 9/64 | 9,364 | ||
| Other loans | 90,000 | 205,000 | ||
| 214,364 | ||||
| Amounts falling between one and two years: |
||||
| Bank loans - 1-2years | 9,714 | 9,714 | ||
| Other loans - 1-2years | 500,000 | 200,000 | ||
| 509,714 | 209,714 | |||
| Amounts falling due between two and five years: |
||||
| Bank loans - 2-5years | 16,755 | 26,755 | ||
| 20. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.4.22 | in funds | 31.3,23 | ||
| f, | ||||
| Unrestricted funds |
||||
| General fund | 2,852/58 | (465,619) | 2@86,739 | |
| TOTAL FUNDS | 2,S52,35S | (465,619) | 2/86,739 |
| Incoming | Resources | Movement | ||||
|---|---|---|---|---|---|---|
| resources | expended | in funds | ||||
| Unrestricted | funds | |||||
| General fund | 6,516/12 | (6,982,431) | (465,619) | |||
| TOTAL FUNDS | 6,516,812 | (6,982,431) | (465,619) | |||
| Comparatives | for movement | in funds | ||||
| Net | ||||||
| movement | At | |||||
| At 1.4.2I | in funds | 31.3.22 | ||||
| E. | ||||||
| Unrestricted | funds | |||||
| General fund | 2,899,293 | (46,935) | 2,852,358 | |||
| TOTAL FUNDS | 2,899/93 | (46,935) | 2,852,358 | |||
| Comparative | net movement | in | funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| Unrestricted | funds | |||||
| General fund | 5,778,118 | (5,825,053) | (46,935) | |||
| TOTAL FUNDS | 5,778,118 | (5,825,053) | (46,935) |