Company registration number.. 01345395 Charity règistration number". 275116 Go Teach Publications Limited {A company limited by guarantee) Annual Report and unaudit Financial Statements for the Year Ended 31 January 2024 Bright Partnership Limited Chartered Accounlanls & Business Advisor 1 Park Street Macclesfield Cheshi SK11 6SR
Go Teach Publications Limited Contents Trustees. Report 1 to5 Independent Examiner's Report Statement of Financial Activities Statement of Financi81 Position 8t09 Notes to the Flnancial Statèmènts 101020 Detailed Stalemeril of Financial Activities 211023
Go Teach Publications Limited Truslees, Report The trustees, who are directors for the ptjrposes of company law, present the annual report logether wth the financial slalernents and auditors, report of the charitable MpanY for the year ended 31 January 2024. Objectives and activities Objects and alms The objective of thè Company is to advance the Ghrislian faith, primarily, but not exclusively. through the production ol Bible leaching materials, for use wth ¢hildren and young people. The said materials are rna¢Je available for sale throughout the United Kingdom and beyond. The Trustees have paid due regard to guidance issued by the Charity Commistsion on public benefit in deciding what activities the charity should undertake, and, in particular. thè speclal guidance on charities publishing material for use wth children and young people. Public beneflt The Charity produces a range ol Sunday School publications and sUPPQrting teaching aids designed lo.. al Introdu¢e Qhildrgn to, and broaden their knowledge of. the Bible. bl Acouralety reflect the Bible text. cl Develop an understanding of Chrislianity. and how il applies lo everyday life. Achievements and perfomiance Kgy financial pwformance Indlcators In determining the key financlal performance indi¢8lors of this Charity, the folbwing are noted.. al The level and margin5 achieved on the supply of Bible-leaching material. bl The impact the attendance at exhibitions has on the level of tumover. cl Maintainin9 Strict control over the18vel of expenditure incurred on support. Page 1
Go Teach Publications Limited Trustees, Report Rèvléw olactivites For this past financial Year. we have ststrn a noticeabl8 increase in our new customers and also the sales of the new format books have shown a STnall increase and we had a profil. The sales for this past year are higher than last year, with the number ol credits having to be issu8d to Bookshops also significantly reduced. Our customer base Isunday Schools in churches) has been maintained and as mentioned, new customers are also placing orders and have increased Ihe number of our materials purchased the sales rigures in this financial year, continue lo show an increased numbèr ol Sunday School. youth. and children's work in Ghurche5 buwng our material, as they have a growng confidence in running regular activities, probably now with increasing numbers since the Pandemic. Over the past year, not only have w8 have been encouraged lo have had a significant number of nèw customers buying and using our material, but we have seen the development in the growth and contribution to the work of the company which the part-lime freelan¢e Editorial Coordinator for Go Teach. who we employed in June 2022, has made and is still making. Our 3 full tim¢ staff membtsrs Continue lo maintain their hvJh standards of work and, along with the Directors, all would like to seo new products developed and our main materials updated in ways th31 would appe81 lo current and new customers. We re¢ognise we need to wisely to develop the work and ils materials in a fiscally sound way lo increase our market share of the Sunday SGhool and midweek olubs of churches. We are pleased lo report we have not had to touch our Reserve Fund at all over the year and we ¢urr&nlly have circa. 4 months finances in reserve. As lo the future- we are encouraged that this Coming Financial Yaar wll ènab1& us to move forward expectantly in selling producis relevant for the year ahead as has been mentioned previously the Holiday Bible Club material linked to the Paris Olympics lo be used at summer dubs 2024 and beyond. While we cannol pradict what liès ahead lor the 2024-2025 Financial Year, we go into the future with a solid base from this year. perhaps having to look at any improved ways to maintain and develop the mpany. We have appointed a further voluntary Director, who has started and was registered wth the Charity Commission as of 1st February 2024. If possible, we would look lo appoint further voluntary Directors from our supporting organisations. As a Christian organisation we thank God for His help and provision in helping the staff with their production work, for the finances generated and thè Directors unity in voluntarily serving behind the scene5 and that we would know God's help and blessing on the work as we go on furthèr into th 2024-2025 financial year. Fundrai5ffng aclivitffes/lnGon7e generation Go Teach ha5 no plans lo use the services of a fundraiser to seek support of any ol its eurrent activities. Page 2
Go Teach Publlcatlons Llmlted Trustees. Report Investment policy andperformancè The Company dotrs not invest monies in shares, bul pla¢e8 any surplus funds in Deposit Accounts to earn interesl prior lo it being withdrawn for use within the Companls activities. The Income Units held by the COIF Charities Investment Fund are seen as short-lerm investments. In time, the Board ol Trustees will consider whethèr thè Units should btr de&m¢d as a long-18m invostmenl. or be disposed of as soon as appropriate. Financial Review Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that th8 Company has adequate resources to continue in operational existence for the foreseeable fulure, and certainly through this current Financial Year. For this reason. they continuè to adopt thè going ¢oncern basis in preparing the Financial Stslements. Further details regarding the adoption ol thè going Goncewn basis can bg found in the Accounting Policies Policy on reseNgs The Company endeavours to maintain a Reserves Policy whereby funds equivalent to three months Administration expenses are held within Bank Acctsunls. In addib'on. reserves are Iranslerred from the general fund to ensure that no designated or restricted fund produces a deficit. At 31 January 2024, Unrestricled Funds total £118,649. well in excess of three months Adtninislralio expenses, which for the year ended 31 January 2024 was £42,152 Structure. governance and management onstilution The company is conslrtuled ijnder a Memorandum of AssocIatn dated 22 December 1977, and is a Registered Charity. number 275116. The company is limitèd by gLJar8nlee. Recruitment and appointment of trustee5 The management of the Company is the responsibility of the Trustees, who are elected and co-opted under the term5 of the ATticles of Association. OrganisatiTonal structure Th8 Board continutss to meal monthly, bul have additional meetings rf necessary, so as lo discuss issues and vote on matters arising. Pagè 3
Go Teach Publications Limited Trustees. Reporl Major risks andmanagement of those rlsks The Trustees have assessed the major rkS lo which the Company is exposed, in-particular those related to the oper8tion5 and finan5 of thè Company. and aré satisfièd that systèms arè in placè tr) mitigate the exposure to the major risks. Plans for future perlods Airns and kèy oblèetivès for futuré perlods Sales havg inGrea58d, yes, and it is our aim to increase sales again in this current Financial Year, as it is every year- although il we'll ever get back to the pre-Pandemic level of sales is uncertain. The Staff and Directors realise that the increasing costs within society, churches, and our production process will affect Go Teach in many ways, bul we will strive lo overcome all barriers ahead of us, so that we are here and abl8 to r8port on anoth8r year this time next year Reference and Administrative Details Charity Registration Number. Company Registration Number.. 275116 01345395 The charity Is In¢orpOrat in England and Wales. Paradise Mill Park Lane Maoclesfield Cheshire SK116TL Registered Office.. Independent Ex8miner'. Bright Partnership Limited Chartered Accountants & Business Advisor 1 Park Stretsl Matclesfield Cheshire SK11 6SR Bankers". The Co-operative Bank P.0 Box 250 DeKHous$ Southway Skelmersdale WN8 6WT Page 4
Go Teach Publlcatlons Llmlted Trustees. Report Trustees and officers Tho Irustoes and officers Sarving during tha year and since the year end were as foltows.. Tru$tees'. E Brady K l Dames T Jones G Jarnes S Whitton lappoinled 1 February 20241 Secretsry.. L Leighton Small companies provision statement This report has been prepared in accordance with the special provisions of Parl 15 of the Companies Act 2006 relating to small cornpanies. The annual report was approved by Ihts trustees of the charity on 23 May 2024 and signed on ils behalf by. G James Trustèè Page 5
Go Teach Publications Llmited Independent Examiner's Report to the trustees of Go Teach Publications Limited {'the Company.) I report to the charity trustèès on my èxamination of the a¢eounts of the Company for the ytsar endod 31 January 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Ad'l Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of thè 2006 Act and are Èligible for independént èxamination. I rèport in r8SP8Ct of my examination ol your charity's accounts as carried out under section 145 01 the Charities Act 2011 I'the 2011 Acl'l. In carrying out my examination I have loljowed the Diiections given by the Charity Commission under section 14515llbl of the 2011 A¢t. Independent examiner's statement I have completed my examination. I confim that no matters have come to my attention in connection with the examination giving me cause lo believe: 1. accounting records were not kept in respect of Go Teach Publications Limiled as required by section 386 of the 2006 Act,. or 2. the accounts do not accord with Ihostr records.. or 3. the a¢cours1s do not comply with the ac¢ounlirYJ requirements of section 396 of the 2006 Act other than any requirement thal the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination,. or 4. the accounts have not been prepared in accordance wth the methods and principles ol the Slalernent of Recommended Practice for accounting and reporting by charities lapplicable to chariiies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no ¢(Trncems 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 ol the accounts lo be reached. Neil Kenninglon Bright Partnership Limited Chartered Acctsuntants & Business Advisor 1 Park Street Macdesfield Cheshire SK716SR 23 May 2024 Page 6
Go Teach Publicatlons Llmlted Statement of Financial Activities for the Year Ended 31 January 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrèstrlctsd funds Total 2024 Total 2023 Note Income and Endowments from- Donations and legacies Charitable activities Investment income 2.291 163,455 1,153 2.291 163,455 1.153 458 156,560 473 Total income 166,899 166,899 157,491 Expenditure on: Raising funds Charitable activities 12,1921 162,720 {2,1921 162.720 11,2381 152,342 Total expenditure 164.912 164,912 153,580 Net income 1.987 1,987 3,911 Nel movement in funds 1,987 1.987 3.911 R•¢onclllatlon of funds Total funds brought foTh¥ard Totsl funds carried forward 116,662 116,662 112.751 19 118,649 118,649 116,662 All of the charity's activities derive from continuing operations during the above two periods. The lund5 breakdown for 2023 is shown irb note 19. The notes on pages 10 to 20 fom an integral part of these financial statements. Page 7
Go Teach Publlcatlons Limiled (Registration number: 013453951 Statement of Financial Position as at 31 January 2024 2024 2023 Note Flxed assets Tangible 8ss81s Investments 10 2,962 15,177 3.720 14,391 18.139 18.111 Current assets Sto¢ks Debtors Cash al bank and in hand 12 13 14 32.710 19,439 67,003 32,210 9,306 75.350 119,152 116.866 cradltors: Amounts falllng duè wlthln on• yaar 15 10,142 9,815 Net eurrent ass8ts 109,010 107,051 Total assèts lass currant IlabllltSas 127,149 125,162 Credltors.. Amounts falling dut after more than one year 16 8.500 8,500 Nèt ass•ts 118.649 116,662 Funds oftha charity: Unr85tricted income fund5 Unreslricled funds 118,649 116,662 Tolal funds 19 118,649 116,662 The notes on pages 10 10 20 fom an integral part of these financial ststemenls. Page 8
Go Teach Publlcatlons Llmlted (Registration number: 01345395) Statement of Financial Position as at 31 January 2024 The charitable company is ents'led to exemption from audit undèr S8¢tion 477 of the Companios Act 2006 for the year ended 31 January 2024. The members have not qUired the company to obtain an audit of ts flnancial ststemenls for the ye8T ended 31 January 2024 in accordance with Secty'on 476 of the Companies Acl 2006. The trustees aCknOedge their responsibilities for {al ensuring Ihat the charitable company keeps accounting records that comply wth Sections 386 and 387 of the Companies Act 2006 and {bl preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end ol each financial year and of ils surplus or deficit for each financial year in accordance with the requirements of Sections 394and 395 and which otherwise comply with the requirements of the Companiès Act 2006 rèlating lo financial st8temenls, so 18r as applicable to the charitable company. Th&se finan¢i81 stalemtrnts havts b8en prepared in accordance with the provisions applicable lo charitable compani8s subjact to the small compani8s règim8. The financial statements on pages 7 to 20 We approved by the trustee$, and authorised for issue on 23 May 2024 and signed on their behalf by.. G James Trustee The notes on pages 10 to 20 fomi an integral part of the financial stalemenls. Pag8 9
Go Teach Publlcatlons Llmlted Notes to the Financial Statements for the Year Ended 31 January 2024 1 Charity status The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the truslees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the 8vent of liquidation_ The address of its registergd office is.. Paradise Mill Park Lane Macclesfield Cheshire SK11 6TL 2 A¢¢ountlng poll¢le$ Stat8m&nt of compllaneè The financial statements have been prepared in accc*danco wlh Ac¢ounling and R&tK>rting by Charilios.. Statemenl of Recommended Practice (applicable to charities preparing their accounts in accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 lissued in October 20191 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Basls of prèparatlon The linanaal stalements of the charitable Company. which is a publi¢ benefit entity under FRS 102. ha been prepared inaccordance with the Charrties SORP IFRS 1021 'Accounting and Reporting by Charities.. Slalemenl ol RecommendedPraolice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable inthe UK and Rèpublic of Irèland IFRS 1021 leffe¢bvè 1 January 20191,, Financial Reporting Standard 102 'The FinancialReporting Standard applicablè in the UK and Republic of Ireland, and the Companies Act 2006. The financial stalemenishave been prepared under the historical cost convention, wth the exception of investments which are included al marketvalue, as mi)dified by the revaluation of certain assets. Page 10
Go Teach Publications Limited Notes to the Flnanclal Statements for the Year Ended 31 January 2024 Financial reporting Standard 102 . reduced disclosure exemption5 The charitable company has taken advantage ol the lollowng disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republ of Ireland.: the requirements ol Section 7 Statement of Cash Flows.. the requirement of paragraph 3.17ldl', the requirements ol paragraphs 11.42, 11.44. 11.45, 11.47, 11.4818lliiil, 11.48la}livl, 11.48{bl and 11.481cl-, the requirements of paragraphs 12.26, 12.27. 12.29lal. 12.29lbl and 12.29A. Income and endowments All income is recognised once the Char has enlttlemenl lo the income. it is probable that the income wll be received and the amount of the income receivable can be measured reliably. Donatlons and legacles Donations arè racognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled lo the fund5. the incorne is deferred and not recognised until either Ihosg conditions are ful met, 01 the fuifilment of those Gonditions is wholly wthin the ¢ontrol of the chafity and il is probab16 that these conditions will be lullilled in the repor14.ng period. Inv$stm0nt In¢oma Interest on funds held on deposit is includecl when receivable and the amount can be me8sured reliably by thè ¢harity'. this is nomally upon notification of the interest paid or payable by the bank. Expenditure All expenditure is recogniwl once there is a legal or conslruclive oblTg8tion to that oxpenditura. it is probable s8lllemenl is r8quiréd and the amoLJnt can be measured r81iably. All costs are allocated to Ihe applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular heading5 they have been allocated on a basis consistent with the use of resources, wlh Central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocaled based on the spread of staff costs. Ralsing funds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that ra15e funds. Charitable activlties Charitable expenditure comprises those costs incurred by the charity in the delwery of ils activities and services for its benefici8ries. 11 Includes both oosts that can b8 allocated diFe¢tly to such a¢tiwb"es and those costs of an indirect nature necessary to support them. Page11
Go Teach Publications Llmited Notes to the Financlal Statements for the YeaT Ended 31 January 2024 Support Costs Support Costs include central functions and have been allocated to activity c05t categories on a basi5 consistent with the use of resources, for example, allocating properly costs by floor areas, or per capita, staff costs by the time spenl and other costs by their usage. Governance Gosts These include the costs attributable to the charitys compliance with constitub'onal and statutory reqLJirernents, including atjdil, strategio management and trustees meetings and reimbursed expenses. Taxation The charity is considered lo pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 nd therefore it meets the definition of a charitable company for UK corporation lax purposes. Accordingly. the Charity is potenb.ally exempt from taxation in respect of in¢ome or capital gains received within categories covered by Chapter 3 Part 11 of Ihe Corporat4'0n Tax Act 2010 or Se¢tson 256 of the Taxation ol Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively lo tharitable purposes. Tangible fixed assets Individual fixed assets costing £0.00 or more are initially recorded al cost. less any subsequent a¢¢umulaled depreci8b.on and subsunI a¢cumu181ed impairment losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuats'on, less any estimated residual value, over their expected useful ecOnorn life as follows.. Asset class Fixtures & Fittings Computer Equipment Depreelatlon mèthod and rate 20°h on reducing balance 20 /0 on reducing balance Fixed asset investments Fixed asset investments, other than programme related inveslmenls. are included at market value at the balance Sheet dale. Realised gains and 105se5 on investments are calculated as the drfference between sales proc8eds and their market value al the start of the y8ar, or thèir subsequent ¢ost. and are ¢harggd or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values durfng the year and are credlted or charged to the Statement of Financial Activities based on the market value al the year end. Stock Stock is valued al the lower of cost and eslimaled selling price less costs to complete and sell. after duo reg8rd for ob501ele and slow Jrioving stocks. Cost is determined using the first-in, firsl-out IFIFOI. Page 12
Go Teach Publications Limited Notes to the Financial Statements for the Year Ended 31 January 2024 Trade debtors Trade debtors are amounts due from customers for merchandise sold or seNices perfomied in the ordinary course of business. Trade debtors are recognised inrtially at the transaction price. They are subsequently measurad at amortised cost using the effective interest method, less provision for impaimient. A provision for the impairment ol trade debtors is estsblished when there is objective evidence that the charity will not be able lo collect all amounis due according to the original terrns of the receivables. Cash and cash 8qulval•nts Cash and cash equivalents compris8 cash on hand and call dgposits, and othef 5hort-lerm highly liquid invesiments that are readily convertible to a known amount of cash and are subject to an insignificant risk of ¢h8nge in value. Trade creditors Trade creditors are oblwations to pay lor goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not havo an unconditional right, at the end of the reporting period, lo defer settlement of the creditor lor at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting dale, they are presented as non<urrent liabilities. Tradè creditors are récogniséd initially 8t thé trans8Ction price and subsequenuy measured al 8TllOrtised cost usin9 the effective interest meth¢xl. Borrowings Int8rest-bearing borrowings are initially reGorded at fair value, nel of transaction costs. Interesl-bearing borrowings are subsequently carried at amortised cost. with the difference between the proceeds. net of transaction costs, and the amount due on redemption being recognised as a charge lo the Stalement of Financial Activitie5 over the period ol the relevant borrowing. Interest expense is recognised on the basis ol the effective interesl method and is included in interesl payoble and similar ¢harges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for al least twelve rnonlhs after the reporting date. Fund structure Unrestricted funds can be used in accordance wth the charitable objectives al the discretion of the trust885. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for pacular restricled purposes. Page 13
Go Teach Publlcatlons Llmlted Notes to the Financial Statements for the Year Ended 31 January 2024 Hire pur¢hase and leasing commitments Rentals paid under operating leases are charged lo the Slalemenl of Financial Activities on a straight line basis over the period of the lease. Pensions and other post retlrement obligations The charitable company oper81es a defined coritribution pension scheme. Contributions payable lo the charitable company's pension scheme are charged to the Statement of Finan¢ial A¢tivities in the period to which they relate 3 Income from donations and legacies Unrestri¢ted funds G•n•ral Total funds Donations and 18gaci8s'. Donations from indivhluals 2,291 2,291 Total for 2024 2,291 2,291 Total for 2023 458 458 4 Investment incorne Unrestricted funds General Total funds Income from listed investment Deposit account interest 417 736 417 736 Total for 2024 1,153 1,153 Total for 2023 473 473 Page 14
Go Teach Publications Limited Notes to the Financial Statements for the Year Ended 31 January 2024 S Expendlture on charStable actlvitl•s Unrestrl¢ted funds General Total funds Allocated support costs Goveinance oosts Activities undertaken directly Tgtal for 2024 28,102 13 134,605 28.102 13 134,605 162,720 162,720 Total for 2023 152,342 152,342 6 Net incomintyoutgoing resources Net incoming res(KJrces lor the ar includè= 2024 2023 Depreciatn of fixed assets Hire of plant & machinery 758 886 941 1,006 7 Trustees remuneration and expenses No Irusl8es, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses from the charity during the year. 8 Staff costs The monthly average number of persons (including senior mana9ement I leadeTship team) Èmployed by the charity during the year expressed as full lime equivalents was as follows.. 2024 No 2023 No Administration Editorial No employee received emoluments of more than £60,000 during the year. Page 15
Go Teach Publications Limited Notes lo the Flnanclal Statements for the Year Ended 31 January 2024 9 Taxation The charrty is a regislered charity and is therefore exempt from taxation. 10 Tangible fixed a55ets Furnltur8 and equipmont Computèr aquipmont Total Cost Al 1 F8bruary 2023 200 25,232 25,432 At 31 January 2024 20 25.232 25,432 Depreciation At 1 February 2023 Charge for the year 120 30 21,592 728 21,712 758 Al 31 January 2024 150 22,320 22,470 Not book valua Al 31 January 2024 50 2,912 2,962 At 31 January 2023 80 3,640 3,720 11 Fixed asset investments 2024 2023 Other Inveslmgnts 15,177 14.391 Page 16
Go Teach Publications Limited Notes to the Flnanclal Statements for the Year Ended 31 January 2024 Other investments Listed investments Total Cost or Valuation Al 1 February 2023 14.391 786 14,391 786 Revaluation At 31 January 2024 15,177 15,177 Net book value At 31 January 2024 Al 31 January 2023 15,177 15,177 14,391 14,391 There were no investment assets outside the UK. COIF Charities Investment Fund Units were transferred to Go Tea¢h Publications LiFllited from Gra¢e Baptist Ministry to the Young during 2009. The units were valued on transfer at £8,560.95. Cost or valuation at 31 January 2024 is repres8nted by.. Value on Transfer- £8,561 Valuation in 2009- £12,338) 2010-£882 2011 - £591 2012 £12371 2013 - £887 2014 - £324 2015-£749 2016- £12371 2017 - £1,245 2018 - £852 2019-£10 2020 - £1,737 2021 - £515 2022 - £1,442 2023 - £1592} 2024 - £786 Value at 31 December 2024 £15,177 Page 17
Go Teach Publlcatlons Llmlted Notes to the Financial Statements for the Year Ended 31 January 2024 12 Stock 21r24 2023 Stocks 32.710 32.210 13 Debtors 2024 2023 Trad8 d8btor5 Prepayments VAT recoverable 15,737 3,113 589 5,900 2,838 19.439 9.306 14 Cash and ca$h equlvalents 2024 2023 Cash on hand Cash al bank 60 66.943 60 75.290 67,003 75,350 15 Credllors: amounts falling due within one yfrar 2024 2023 Trade creditors Other taxation and social security Accruals 6,530 1,727 1.885 6,439 1,516 1,860 10.142 9,815 16 CrèdStors: amounts falllng due after one year 2024 2023 Other loans (see note 17} 8.SJO 8,500 Page 18
Go Teach Publications Limited Notes to the Financial Statements for the Year Ended 31 January 2024 17 Loans Other loans comprise loans from., Evangelical Movement of Wales £?,000. The 108n is unsecured, interest free and with no fixed terms of repayment. Grace Baptist Ministry lo the Young £7,500, is a long temi fomi of finance lo the company and only becomes repayable in the event ol a winding LJP of Go Teach Publications Limited. This was confimied by them in 2018. 18 Obligation$ under leases and hire pur¢hase contracts Operating lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows.. 2024 2023 Within one year Beeen one and five years 12,000 12,000 12.000 12,000 24,000 The lèase payments above are for a new operating leasé agr8Èment for thè renla10l tha propèrty First Floor Lower Paradise Mill which is currently under negotiation. The term of the agreement is from 2019 to 2024. The agreement is for £12.000 per annum. 19 Funds Balance at 1 February 2023 Other Balanco at Resources recognised 31 January Èxpended gainslllossesl 2024 Incoming rèsourees Unrèstrlct8d funds General R9valub"on reserve General fund Grace Baptist Ministry to Ihe Young Evengelical Movement of Wales 4,446 105,966 4.446 107,953 166,899 1165,698} 786 6,000 6.000 250 250 116,662 166,899 165,698 786 118.649 Page 19
Go Teach Publications Limited Notes to the Financial Statements for the Year Ended 31 January 2024 Balance at 1 February 2022 Cxher Balance at Resources re¢ognised 31 January •xpended gainsllloss8$1 2023 Incoming resourcas Unrestricted funds G•n•ral Revalulion reserve Genèral fund Grace Baptist Ministry to the Young Evengelical Movement of Wales 4,446 102,055 4,446 105.966 157.491 1152,9881 15921 6,000 6,000 250 250 112,751 152,988 592 116.662 20 Related party transactions The were no related party transactions in the year. 21 Employee Beneflts OblSgations The company operates a defined contributions perTrsion scheme.The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charged represents contributions payable by the company to the fund and amounted to £1,83812023 - £1.6611. 22 Grace Baptlst Ministry to the Young During the yeai ended 31 January 2009, The Grace Baptist Ministry to the Young made £10,672 available lo Go Teach Publications LiNited.The funds were to be utilised as follows.. £5,000 was to be used to increase participators funding to £6,000, £5,500 was to be used to increase the exisb'ng loan up to £7,500 and the remaining £172 was to be taken as a gift lo Unrestricted Funds. There was no restriction on the use of the funds made available. The funds comprised COIF Gharilies Investment Fund Units valued Iransfer at £8,561 and the remainder in cash. At the 31st January 2024 these investments were valued at £15,117, a increase of £786. This inc8$0 has baan credit8d to a ravaluation reserve. The Loan Irom The Grace Baptist Ministry to the Y(xJng of £7,500 has been tated as only repayable in the evant of a winding up of Go Teach Publications Limited. Page 20
Go Teach Publlcatlons Llmlted Detailed Statement of Financial Activities for the Year Ended 31 January 2024 Total 2024 Total 2023 Income and Endowments from: Donations and legacies lanalysed below) Charitable activities lanalysed below) Investment income lanalysed belowl Total income 2,291 163,455 1.153 458 156.560 473 166,899 157,491 Expendlture on: Raising funds lanalysed belowl Charitable activities lanalysed below) 12,1921 162,720 11.2381 152.342 Total expenditure 164,912 153.580 Net income 1.987 3,911 Net movement in funds 1,987 3,911 Reconelllatlon of funds Total funds brought forward Total funds carried forw8r 116,662 112.751 118.649 115.662 This page does not form part of the statutory finanaal slalements. Page 21
Go Teach Publications Limited Delailed Statement of Financial Activities for the Year Ended 31 January 2024 Total 2024 Total 2023 Donatlons and legaclgs Appgals and donations 2.291 458 2,291 458 Charitable activities Charity trading incoma 163,455 156,560 163,455 156,560 Investment income Deposit Account Interest Income from listed investment 736 417 57 416 1.153 473 Raising funds Advertising 2,192 1,238 2,192 1,238 Charitable actiTVitiès Wages and salaries Staff NIC IEmployers} Staff pensions (Defined conlribulionl - pension scheme 1 Subcontract cost Staff training Staff welfare Rent and rates Insurance Repairs and maintenancè Photocopier Telephone and fax Postage and stationery Computer software and maintenance costs Printing Distribution Hir¢ of plant and ma¢hln8ry {Op8raling 1088&s} Sundry expenses Travel and subsistence Acwuntancy fee5 179.9711 12,2701 11,8381 116,2751 {81 1351 {12,4321 14441 11001 {1,0711 1873} 1513} 14,9051 123,7751 112,3141 18851 14351 14751 12,2851 173,779} 11.8191 11.6731 19,4951 112,4151 14311 {501 11,1591 19191 12251 15.2581 124,2191 {12,7601 11,0061 14731 14561 12,5571 This page does not form part of the statutory flnancial statemgnts. Page 22
Go Teach Publications Llmlted Detailed Stslement of Flnanclal ActivSties for the Year Ended 31 January 2024 Total 2024 Total 2023 Bank charges Depreciation of fixtures and fittings Depreciation of office equipment IGain}Aoss on pro9ramme ielated Investments Sundry expenses 11,8311 1301 {7281 786 131 162.720 12,1021 1301 15921 13 152,342 This page does not fomi part of the slalutory financial statements. Pag8 23