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2023-03-31-accounts

Financial Statements 31 March 2023

Philo Trust Philo Trust, Witton House, Lower Road, Chorleywood, WD3 5LB

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Charity Number 285762

Contents

Contents
Administrative Information 3
Annual Report of the Trustees 4-8
Message from Chair of Trustees 9
Annual Report of the Director 10-25
Independent Auditor’s Report to the Trustees 26-29
Statement of Financial Activities 30
Balance Sheet 31
Cashflow Statement 32
Notes to the Accounts 33-39

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Administrative Information

Registered Charity Name Philo Trust

Registered Charity Number 285762

Principal Office Witton House, Lower Road, Chorleywood, Rickmansworth, WD3 5LB Tel: +44 (0)1923 287777 Trustees Mr Terry Baker (Chair) Mrs Juanita Baker Mr Adrian Bignell Mr Mike Carson Revd Mike Pavlou Mr Alex Stewart-Clark Mr David Withers Director Revd Canon J.John Auditors Cansdales Audit LLP, Chartered Accountants and Registered Auditors, St Mary’s Court, Old Amersham, Bucks, HP7 0UT Bankers NatWest, 16 South Parade, Nottingham, NG1 2JX

PHILO TRUST – Administrative Information for the year ended 31 March 2023

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Annual Report of the Trustees

The Trustees present their report and the financial statements for the year ended 31 March 2023, which includes the administrative information on page 3.

Constitutional information

Philo Trust is constituted by a Deed of Trust and was established in 1982. The charity’s registration number is 285762.

Objectives, organisation and activities

Operational structure

The Trustees met three times this year. Each meeting has substantially the same principal agenda items: to review current finance and resources, staff and employment matters, the immediate past and future diary of commitments, and to receive reports from staff on particular areas relevant to their responsibilities. The Trustees believe that they serve Philo Trust under God, and Trustee meetings are therefore held in the context of devotional and intercessory prayer.

All policy decisions are reserved to the Trustees, following which implementation is delegated to the staff under the direction of J.John. Any significant financial commitment is referred back to the Trustees before it is agreed and there is close liaison between the Trustees and J.John.

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Trustees

New Trustees invited to serve Philo Trust are provided with a copy of the Charity Commission’s leaflet ‘The Essential Trustee – CC3’, and join the Board of Trustees where they are encouraged to ask questions and brief themselves on the current issues being addressed.

At an early stage new Trustees have the opportunity to meet all key members of staff and learn first-hand about the activities, operations and protocols of Philo Trust.

Each Trustee is encouraged to take responsibility for a particular area of the Trust’s operation commensurate with their interest, experience and proven competence, and thereafter take the lead when supervising that area, and when developing policy and future plans.

New Trustees are encouraged to identify an area of responsibility in communication with the Chair of the Trustees.

New Trustees are nominated either by a Trustee or J.John. After discussion between the Chair of Trustees and J.John, the nominee meets the present Trustees; prayer and consideration follows. Only if there is unanimous agreement will he or she be appointed to the Board. Decisions are made between the Trustees after prayer, discussion and unanimous agreement between all Trustees and J.John.

Financial review

The 2022–2023 financial year has continued moving back into the normal cycle. This year we have continued to invest in our broadcast ability, as well as returning to in-person events. Our resources sales have seen one of the best years ever for Philo Trust and this positive growth has continued at the beginning of 2023–2024.

Expenditure in 2022–2023 increased in correlation with the income received, resulting in a small deficit at the end of the year. Further development of our work in broadcast and digital media was made possible by the increase in giving and we were able to record a brand-new version of the just10 series, which we made available to churches, small groups and individuals free of charge at the start of 2023–2024. We also hosted the Evangelists’ Conference in January 2023 after it had been postponed the previous two years. This allowed us to release some deferred income and expenditure into the year in question.

Partway through the first quarter of 2023–2024 income appears to be strong, with expenditure in line with the budget. We are expecting the first quarter to be slightly above the budgeted level.

Reserves policy

The Trustees have established a policy whereby the unrestricted general funds not committed or invested in tangible fixed assets and stock (‘the free reserves’) held by the charity should not be less than three months’ normal running costs of the following year’s budgeted expenditure. The expenditure budget for the 2022-2023 year shows a quarterly budgeted amount of £257,967. Philo Trust had free reserves (excluding those invested in fixed assets, stock and those held in

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designated funds) at 31 March 2023 of £333,776 for which the Trustees are very grateful. The Trustees review this policy and the level from time to time.

Risk policy

The Trustees review major risks to which the charity is exposed, and systems have been established to mitigate those risks wherever possible. These systems are reviewed periodically to ensure best practice is established for the needs of the charity.

The Trustees have adopted a risk management statement and policy and established a risk register. This enables them to rank risks according to probability and severity.

The Trustees believe that the principal risks and uncertainties are:

Reputational The Trustees regularly discuss any potential areas which may cause reputational harm to the charity and any necessary action required is discussed and taken accordingly.

Funding Philo Trust constantly seeks to widen its donor base and encourage regular donations. In order to provide stability during periods of low income Philo Trust seeks to maintain sufficient liquid reserves.

Loss of records Daily back up of computerised records takes place. This is done via the Cloud so that no critical data is only held physically within the Witton House office.

Vision, mission and values

Vision

Our vision is to transform lives by communicating the truth of Christianity.

Mission

To have an impact in every region of the UK, locally and nationally, and specific countries worldwide:

How?

Philo Trust has four main areas of operation:

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Values

Our key focus is to transform the lives of people we meet by communicating the Good News of Christianity in a relevant and accessible way.

We value Bible-based lifestyles, teachable attitudes and unity in the hearts of all those involved.

We desire to be responsive to need and produce resources that meet the needs of the people with whom we are communicating.

We desire everything we do at Philo Trust to be birthed in prayer, in line with the Bible, and in step with the Holy Spirit.

Review of activities

The review of activities for the year is set out in the Annual Report of the Director on pages 10-25.

Plans for future periods

The charity plans to continue the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. We have learned from our operations in the past and will apply the lessons we have learned from our experience to further our future plans.

Public benefit

The Trustees have considered the Charity Commission’s general guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion, when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant-making policy for the year.

The Trustees have, in their view, met the public benefit requirement by holding a variety of events across the world which are open to the general public and which seek, in accordance with their vision, to transform lives and thus enable people to live as responsible citizens in their community.

The vision, mission and values of the Trust along with the year’s objectives, activities and achievements are set out in this report and in the Annual Report of the Director.

Responsibilities of Trustees

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 in the charity and of the incoming resources and application of resources of the charity for that period.

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In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and Trust deed.

They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure

We, the Trustees of the charity confirm, so far as we are aware, that:

On behalf of the Board of Trustees

Mr Terry Baker Chair of Trustees

Date: 29[th] September 2023

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Message from Chair of Trustees

Once again it has been a delight to watch God working in remarkable ways through the ministry of Philo Trust. The Trustees and I truly count it a privilege to be a part of this work and to witness first-hand all of the wonderful things that have taken place this last year.

After two ‘pandemic years’, it has been good to see things return to ‘normal’ this year. That said, it cannot be understated that the lessons learnt throughout the pandemic were invaluable to the work and ministry of the Trust. As a result, more people than ever before are being given the opportunity to hear the message of Christianity.

Once again, the staff team have focused their attention on one short Bible passage which has underpinned their work and ministry for the year. The passage this year was Psalm 27:13-14: I remain confident of this: I will see the goodness of the LORD in the land of the living. Wait for the LORD; be strong and take heart and wait for the LORD.

Reviewing the year that has passed, I believe that we truly have seen the goodness of God in all of the various areas that the team has worked in.

There have been numerous opportunities for in-person ministry this year, particularly around the UK, but also globally. Whether proclamation evangelism, teaching churches to have confidence in sharing their faith, or mentoring other evangelists, it has been a delight to hear stories of how God has transformed people’s lives.

It has been an encouraging year for resources and the Trustees and I were delighted to see how the new book Heroes of the Faith has been so warmly received by so many people. We are looking forward to the publication of the second volume in 2023–2024.

On behalf of the Trustees, I would like to take this opportunity to thank J.John, Killy and the staff team and the contractors we have worked with who have been exemplary in all that they have done in this last year. Very importantly, I would like to extend my own gratitude to our friends, supporters and donors, without whom none of this important work and ministry could take place.

Finally, I also take this opportunity to thank my fellow Trustees for their wisdom and work which they bring to Philo Trust.

Mr Terry Baker Chair of Trustees

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Annual Report of the Director

Philo Trust is committed to evangelism through proclamation, training, mentoring and resources.

We have had many opportunities to share the relevance of Christianity in this year and I am delighted to share them with you in this report.

Evangelism through Proclamation

We are committed to proclaiming the Good News of Christianity across the UK and around the world. Two particular highlights this year were spending an extended period of time ministering with Assemblies of God churches in England and hosting our 37th just10 series in Notting Hill, London.

Evangelism through Training

We are committed to training Christians to share their faith. This year we have had a number of opportunities to train and equip Christians to share their faith through friendship evangelism. We have also spoken at strategic gatherings of church leaders for the Assemblies of God and other denominations.

Evangelism through Mentoring

We are committed to mentoring and coaching other evangelists. It was a delight to host the Evangelists’ Conference for the first time since the pandemic and wonderful to spend much time in one-to-one meetings with other evangelists.

Evangelism through Resources

Our resources continue to be used by churches and Christians to encourage those with no faith to better understand Christianity. Our range of digital resources, broadcast content, and other digital media continues to be widely used by a diverse range of churches and individuals worldwide.

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Our opportunities: Proclamation

Proclamation evangelism events are opportunities to creatively and clearly communicate the Christian message and encourage people in their journey of faith. We work in partnership with local churches to support their ministry and wider community.

Across the United Kingdom

As part of our commitment to help the church in the UK build strong foundations to share the Good News of Jesus, we have endeavoured to travel broadly to churches of varying sizes and denominations. With good support from the Philo Trust staff, we were able to travel, speak and see many encouraging responses. This year we partnered with:

Audacious Church, Manchester Life Church, Warrington Bangor Elim, Northern Ireland Net Church, Dartford City Praise Centre, Gravesend River of Life Church, Felixstowe CLM Church, Coventry Tunbridge Wells Christian Fellowship Eternity Church, Croydon Wallington Christian Centre, Croydon Holy Nation Church, London

Throughout the year, I spoke several times at my home church in Chorleywood. We have found the support of our church invaluable over the years and have valued the opportunity to speak to the church.

International Ministry

We also had the opportunity to arrange international ministry trips in the USA:

Killy and I joined Lakewood Church, Houston for their Sunday services:

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We were also delighted to travel to the Netherlands for the Opwekking Festival where over 17,000 camped along with day guests visiting from across the country to celebrate Pentecost.

Christmas

We partnered with groups of churches in towns and cities across the UK to share the Good News of Christmas. These events have not only been opportunities for people to hear the story and meaning of Christmas, but have also provided churches with the tools and relationships required to host large-scale events in the future.

We were delighted to partner with multiple churches across Gosport, Glasgow and Wolverhampton.

We were also able to work with the following individual churches:

A particular highlight was the opportunity to work with Killy John to share about the three wise women in the Christmas story at our home church, Christ Church Chorleywood.

just10: London

We partnered with Kensington Temple to conduct a ten-week series sharing the relevance of the Ten Commandments for life today.

The series looks at relevant topics such as contentment, work-life balance and family relationships, and shows how Christianity brings a life-giving perspective into each area of our lives.

The series was recorded and released as a digital resource in 2023–2024. We look forward to reporting on its reach and impact in next year’s report.

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Our opportunities: Training

Training Christians to be more intentional in communicating the relevance of Christianity has continued to form an integral part of our ministry.

We work with churches and organisations to equip and inspire Christians to share their own personal story of faith through praying, caring and sharing.

Throughout the year, I was able to participate in conferences for church leaders to encourage and challenge those attending to lead the church with an outward-facing, guest-orientated mindset:

When we participate in a major initiative with a church or group of churches, we often seek to gather church members together to encourage an open and outward perspective. This year, we supported the following congregations:

I also spoke at a multi-church gathering hosted at Holy Trinity Church, Cambridge, a Filling Station meeting in Harrogate and a GOD TV celebration in London.

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Our opportunities: Mentoring

Philo Trust seeks to help support and mentor those who work to share the Christian faith. This takes a number of forms such as speaking ‘one-on-one’ with individuals, an annual Evangelists’ Conference, online gatherings of groups of evangelists and supporting our associate evangelists.

Evangelists’ Conference 2023

The Evangelists’ Conference, organised by Philo Trust, provides a unique opportunity for evangelists to learn and be inspired for the year ahead.

Speakers in January 2023 included Revd Greg Downes, Mark Ritchie, Mark Greenwood, Dr Amy Orr-Ewing, Andy Economides, J.John and Killy John. Additionally, the conference intentionally provides time and space for evangelists to network.

Here are a few comments from this year’s delegates:

I’m so thankful for the Evangelists’ Conference. It provides an essential kick-start to the year with an inspiring blended programme that puts fuel in the spiritual, emotional, relational, physical and missional tank for the year ahead. From the moment I arrive, my soul starts to reboot afresh.

The Evangelists’ Conference is always a special and restorative time for me – a chance to reconnect with old friends and make some new ones. A time to recalibrate and receive before going out and giving out all over again.

There is nothing else like the Evangelists’ Conference in the UK or Ireland. There are other conferences where you can get teaching and resources but none that offer what this conference has. What is the secret ingredient? J.John talks about ‘sacred synergy’ and that, I believe, is the key. If we are really serious about supporting existing evangelists and raising up new evangelists, this gathering offers a tremendous space for this.

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Associates

We continued to place a specific focus on mentoring associate evangelists. Sam Rennie and I met regularly with associates throughout the year and also at a three-day retreat organised by Philo Trust. These meetings with small groups of ministry leaders give an opportunity to network and refocus.

Killy and I were also able to join in person The Point Group, a retreat for fellow evangelists in the USA.

Killy John and I have also met one-on-one with over 80 associates, evangelists and ministry leaders.

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Our opportunities: Resources

We seek to resource a wide variety of individuals to better understand and communicate the Christian faith. We do so through a variety of methods and platforms, both digital and in print. We have seen a significant increase in this area of our work and are delighted to see our resources being used by more people than ever before.

We received many stories throughout the year of how our resources helped people in their journey of faith. We are always particularly encouraged when churches and Christians order resources to give away to others. Here is an email we received from someone who came to one of our Christmas events:

[I] thought it might be nice to share what I’m doing with my books to encourage your ministry and hope you didn’t mind me sharing.

Book one: [I] managed to give it to the washing machine repair man . . . He was the fella who told me his (atheist) mother who sadly passed away two years ago, was found by him holding a Bible in her hands. Perhaps she found Jesus . . . and J.John's book could be an answer to prayer for her son.

Book two: I’d given this to my neighbour who comes from a science background and believes in logic and evidence. He doesn’t know the truth of Jesus yet. May it set him free.

Book three: I’m passing it onto a woman who through divine connection I met a number of years ago. She shared of her brokenness losing her young niece to suicide just over a year ago. May Jesus heal her heart today.

Book four: My local neighbour. She is so sweet in [her] early 60s but she’s extremely lonely and now quite poorly with diabetes. May she find a friend in Jesus through this book.

Book five: A local neighbour I’ve known (vaguely) over a number of years, wild at heart, bit of a rebel but a lovely heart, sadly had x2 heart attacks and lung cancer very recently. May he know Jesus as his healer.

Published Books

Philo Trust continues to publish books that convey and communicate Christianity to a wide audience.

Titles are also available for those who are blind and partially sighted through our partnership with the Torch Trust. Where available, we have promoted these on our website to encourage their use.

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We have continued to donate books to children’s hospitals and hospices throughout the year. We were especially encouraged to work with Alder Hey where 100 copies of The Christmas Story and 350 copies of The Easter Story were given out to sick and dying children by the chaplaincy team.

Revd David Williams said:

The event was a huge success, and every single Easter book was distributed to little visitors, patients, and families. I can’t thank you enough for your help in making the books available.

We were also able to give away 150 copies to a local Christmas Street event in Chorleywood.

Articles

Over the course of the year we have produced 92 articles to resource Christians to better understand and communicate their faith. There has been an 11% increase with over 128,000 (2022: 116,000) views of articles on canonjjohn.com in the last year. Additionally, we’ve seen an 8% increase in the number of eLetters opened which include an article as their main feature. 2023: 812,000 opens (2022: 748,000).

We have been encouraged by the global distribution of my articles. In addition to the list below, two letters were published in The Times newspaper.

This year, articles were featured in:

I was also quoted in the Washington Times .

Heroes of the Faith

I have continued writing articles on heroes of the faith , which continue to inspire many of our readers as well as myself. We published 50 previous heroes in our book Heroes of the Faith. We anticipate a second publication with a further 60 heroes in the next financial year.

The heroes that I wrote about this year were:

• Lottie Moon • Henry Martyn • Agnes Smith Lewis and
• John Wesley • John Charles Ryle Margaret Dunlop Gibson
• Benedict of Nursia • Phoebe Palmer • Toyohiko Kagawa
• David Wilkerson • Isaac Watts • Leonhard Euler
• Thomas Barnardo • Richard Wurmbrand • Betty Greene
• Eric Liddell • Catherine of Siena • John Hus
• Helen Roseveare • Watchman Nee • William Tyndale
• John Wycliffe • Francis Asbury • Rasalama of Madagascar
• Evan Roberts • David Brainerd • David Ngunaitponi
• Mahalia Jackson • Brother Lawrence

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I also wrote a number of other articles. These were:

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Digital services and broadcast

Summary

Distributing digital content, whether written, audio or video, has been a continued area of growth for Philo Trust. We use a number of platforms as a tool to aid our work in the proclamation of the Christian message, equipping Christians and resourcing the church.

The content shared to these platforms is designed to encourage and inspire our followers. We use a range of videography, audio, motion graphics, photography and graphic design, much of which is extracted from sermons, Facing the Canon interviews, and books.

We currently focus on the following broadcast, digital media and social media platforms:

Instagram

Having seen steady growth through the first part of this year, we were delighted to see our follower numbers on Instagram increase at an accelerated pace in the final quarter.

The content we shared aimed to encourage a wide audience to engage with Christianity and make faith in Jesus a priority in their lives.

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----- Start of picture text -----
Instagram 'follows' 2020–2023
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
April 2020 June 2020 August 2020 October 2020 December 2020 February 2021 April 2021 June 2021 August 2021 October 2021 December 2021 February 2022 April 2022 June 2022 August 2022 October 2022 December 2022 February 2023
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Facebook

Our Facebook page continues to grow at a significant rate. In 2022–2023 we saw a 30.8% increase in followers. This compares to a 33% increase in 2021–2022.

As with Instagram, the content we shared aimed to encourage a wide audience to engage with Christianity and make faith in Jesus a priority in their lives.

----- Start of picture text -----
Facebook 'followers' 2020–2023
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
April 2020June 2020August 2020October 2020December 2020February 2021April 2021June 2021August 2021October 2021December 2021February 2022April 2022June 2022August 2022October 2022December 2022February 2023
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Podcasts

We were delighted to see a hugely significant 78.2% increase in podcast downloads between April 2022 and March 2023. This exceeds the 63% growth that we saw between April 2021 and March 2022.

53% of listeners were in the United Kingdom, 18.9% in the United States and 12.2% were in Australia.

The podcast follows our broadcast schedule for TV and radio and gives listeners an opportunity to listen to high-quality Christian content focused on encouraging a wide audience to understand more about Christianity.

We received the following email which demonstrates the impact of our podcast:

I had been a Christian for over 30 years but not a real follower of Jesus, even though there were moments of breakthrough. I relied on others’ teachings and was a lazy believer. I did not read God’s word much or spend time in a lot of prayer. In short, I might have looked like a tree but there were no deep roots.

When my sister, who was a beautiful believer and had trusted for healing, died, my faith crumbled. Anger and disappointment took over. For 5 years my heart grew harder and harder [until] the last ember was nearly gone.

Recently, I decided to listen to your podcasts (I remembered you being funny) to help me sleep as I often had trouble. I stirred one night and in the middle of one of your interviews your guest was recounting an event when he and his friends were nearby a church and one of them went in to give the priest a hard time in confession. The priest told him to go outside and look up at the cross and say, ‘I don’t care.’ When he tried to do that, he realised he couldn’t. That moment saved him. That moment saved me too. I realised I couldn’t say those words either. That was my turning point.

I have a second chance now to be a true follower. I love Jesus, my Bible time, my prayer time and I am learning how to share my faith. I am finally beginning to walk the walk.

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Podcast Growth 2020–2023

----- Start of picture text -----
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
April 2021 May 2021 June 2021 July 2021 August 2021 September 2021 October 2021 November 2021 December 2021 January 2022 February 2022 March 2022 April 2022 May 2022 June 2022 July 2022 August 2022 September 2022 October 2022 November 2022 December 2022 January 2023 February 2023 March 2023
----- End of picture text -----

YouTube

The number of subscribers on our YouTube channel grew 39% in the 2022–2023 financial year, this compares to 32% growth in the 2021–2022 financial year. The growth of the platform since 2015 can be seen below.

Our YouTube channel had 1,022,762 views in 2022–2023 compared to 612,000 in 2021–2022, an increase of 67.1%. This equates to approximately 107,600 hours of watch time, which is 60.6% higher than the previous year.

We received 6,200 new YouTube subscribers in 2022–2023, compared to 3,700 subscribers the previous year.

Our YouTube content includes our weekly TV series and other short clips.

----- Start of picture text -----
YouTube subscribers 2015–2023
25,000
20,000
15,000
10,000
5,000
0
January January January January January January January January January
2015 2016 2017 2018 2019 2020 2021 2022 2023
----- End of picture text -----

Additionally, our historic Facing the Canon YouTube channel (not used since May 2019) has received 146,334 views in 2022–2023 and an additional 852 subscribers.

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Websites

Our websites remain an important signpost to content and an integral part of our strategy to communicate the relevance of Christianity to a wide audience. They inform visitors of our charitable objectives, our events and the resources produced by the Trust. We have a range of resources available free of charge and others available to purchase online.

Our primary website (www.canonjjohn.com) has continued to be updated. We have continued to refine the user experience and iterate the design to keep it current and to better cross-link resources and media across the site. The canonjjohn.com website has been visited over 595,000 times by more than 422,000 people since its launch in 2019.

The Evangelists’ Conference website has been visited over 34,000 times by more than 26,000 people since its launch.

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Broadcast

Broadcast has grown and developed significantly over the last year. Our weekly series, Today with J.John , aired on GOD TV, Shine TV, Kanal 10, Revelation TV, New Hope TV, TWR-UK, UCB Ireland, Branch FM, YouTube and Facebook.

Episodes were shared on The J.John Podcast and short clips from episodes were also shared on social media. These short clips not only provide insight and inspiration to the viewers, but they also signpost to the full interview.

Today with J.John consists of a variety of Facing the Canon interviews and sermons. In the last year, the following interviews were broadcast:

Jen Rees Larcombe Ric Thorpe Pete Greig Dr Peter Saunders Naomi Graham Debbie Flood Killy John Dave Smith Rich Wilson Sharon Dirckx Agu Irukwu Ward Simpson Mark Birch-Machin Roy Crowne Chris Eaton Sean Stillman Trudy Makepeace Ruth O’Reilly-Smith Greg Downes Warren Furman Justin Brierley Rachel Mackenzie Andy Bannister Tom Price Lionel Wallace Alex Jacob Nicky and Pippa Gumbel Dr Liz Jones Ray Bevan Nicky Gumbel Graham Dacre Emma Heath Michael Youssef (two Phil Cooke Howard Satterthwaite episodes) Dan Strange David Shearman Paul McGee (two episodes) Leah Sax James Ray Joseph Boot (two episodes)

Two special compilation episodes were broadcast:

The following sermons were also broadcast:

Each episode is worked on by almost the entire staff team, from pre-production through to postproduction and distribution, and is shared across our digital platforms, being adapted to best suit the platform and reach the widest audience possible.

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Radio and TV

There have been a number of opportunities to join broadcasters on radio and TV stations:

We have been deeply encouraged by the opportunities we have been given this year to reach hundreds of thousands of people through in-person events, resources, one-to-one meetings, broadcast and other forms of digital media.

Completing this annual report, we are grateful to God for all the lives that we were able to impact in 2022–2023, and we are expectant for all that will happen in the coming year.

Thanks be to God.

Revd Canon J.John Director

Date: 29[th] September 2023

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Independent Auditor’s Report to the Trustees of Philo Trust

Opinion

We have audited the financial statements of Philo Trust (the “charity”) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the cashflow 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 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.

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Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor’s report thereon. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

PHILO TRUST – Annual Report of the Trustees for the year ended 31 March 2023

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Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement set out on pages 7-8, the Trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Trustees 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 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 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 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

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.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity’s internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.

Conclude on the appropriateness of the Trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty

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exists related to events or conditions that may cast significant doubt on the charity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the Trustees of the Charity, 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 Trustees of the Charity 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 Charity and the Trustees of the Charity as a body, for our audit work, for this report, or for the opinions we have formed.

Cansdales Audit LLP

Date: 2 October 2023

Chartered Accountants and Statutory Auditors

St Mary’s Court, Old Amersham, Bucks, HP7 0UT.

Cansdales Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

PHILO TRUST – Annual Report of the Trustees for the year ended 31 March 2023

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Statement of Financial Activities

For the Year Ended 31 March 2023

Unrestricted Total Unrestricted Total
Note Funds 2023 Funds 2022
£ £ £ £
Income & Endowments from:
Donations and legacies 3 938,549 938,549 695,955 695,955
Investments 2,037 2,037 49 49
Charitable activities:
Sales 183,140 183,140 106,453 106,453
Other income 150 150 (2,879) (2,879)
Income from royalties - - 222 222
Total Income and endowments 1,123,876
1,123,876		 799,800 799,800
Expenditure on:
Raising funds 5,116
5,116
-		 -
Charitable activities 4 1,120,359 1,120,359 807,546 807,546
Total expenditure 1,125,475
1,125,475		 807,546 807,456
Net Income/(Expenditure) for the year (1,599)
(1,599)		 (7,746) (7,746)
Transfers between funds - - - -
Total funds brought forward 527,471 527,471 535,217 525,217
Total funds carried forward 525,872 525,872 527,471 527,471

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Balance Sheet

As at 31 March 2023

Note 2023 2022
£ £ £ £
Fixed Assets:
Tangible assets 8 67,661 57,355
Current assets:
Stock 9 95,310 89,127
Debtors 10 94,083 105,418
Cash at bank and in hand 333,776 326,956
523,169 521,501
Creditors:
Amounts fallingdue in oneyear 11 (64,958) (51,385)
(64,958) (51,385)
Net current assets 458,211 470,116
Total assets less current liabilities 525,872 527,471
Funds
Restricted general funds
Designated funds 13 74,626 78,920
Unrestricted funds 13 451,246 448,551
525,872 527,471

These financial statements were approved and authorised by the Trustees on 29[th] September 2023 and signed on their behalf by:

Mr Terry Baker Chair of Trustees

Date: 29[th] September 2023

PHILO TRUST – Annual Report of the Trustees for the year ended 31 March 2023

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Cashflow Statement

For the Year Ended 31 March 2023

Note 2023 2022
£ £ £ £
Net movement in funds (1,599) (7,746)
Adjustment for:
Depreciation 17,885 18,507
Investment income (2,037) (49)
15,848 18,458
Decrease/(Increase) in stock (6,184) (12,406)
Decrease/(Increase) in debtors 11,335 (32,294)
Increase/(Decrease)in creditors 13,573 18,854
18,724 (27,846)
Net cash from operating income 32,973 (17,134)
Investing activities
Purchase of fixed assets (28,190) (16,481)
Disposal of fixed assets - -
Investment income 2,037 49
(26,153) (16,432)
Net change in cash and cash equivalents 6820 (33,566)
Cash and cash equivalents at start ofyear 326,956 360,522
Cash and cash equivalents at the
end ofyear		 333,776 326,956

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Notes to the Accounts[31 March 2023]

Note 1. Accounting Policies

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value except for investment assets, which are shown at fair value.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Account and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved early adoption of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) for accounting periods beginning on or after 1 January 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has been withdrawn. The financial statements are prepared in accordance with the Charities Act 2011.

These financial statements are presented in Sterling, which is the functional currency of the charity and rounded to the nearest £0.

The Trustees consider that due to the amount of reserves available there is no material uncertainty about the Trust’s ability to continue as a going concern. There were no transition amendments required upon adoption of FRS 102.

Income

Income is recognised in the period in which the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, income is accounted for as soon as the Trust is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt is more likely than not. Tax recoverable on Gift Aid is accounted for in the period in which the related gift aided amount is received and included in donations with the original gift.

Expenditure

Resources expended are included in the financial statements on an accruals basis including VAT where this cannot be recovered. Grants are accounted for when paid. Certain expenditure is directly attributable to specific activities and has been allocated to those cost categories. Certain other costs, irrecoverable VAT and staff costs are attributable to more than one activity. In these cases the costs have been apportioned to the individual activities on the basis of time spent by staff on matters relating to those activities. Central support costs have been allocated on the basis of resources used.

Governance costs comprise all costs relating to the public accountability of the charity and its compliance with regulation and good practice. These costs include costs relating to the statutory audit.

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Fixed Assets and Depreciation

Tangible fixed assets are stated at cost, less accumulated depreciation. Items with a unit cost below £1,000 are written off through the Statement of Financial Activities unless a number of items bought together with a unit cost below that value exceed £1,000 in total. Depreciation is calculated on a monthly basis so as to write off the unit cost of an asset, less its estimated residual value, on a straight-line basis over the useful economic life of that asset as follows:

Motor vehicles 25%
Office furniture and equipment 20-33%
Fixtures and Fittings 20%
Leasehold 10%

Operating Leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged in the Statement of Financial Activities on a straightline basis over the period of the lease.

Pensions

The charity offers a workplace pension scheme to all staff members. Charges are made in Statement of Financial Activities as they arise.

Stock

Stock is stated at the lower of cost and net realisable value where cost is the purchase price. Production costs are written off as incurred.

Foreign Exchange

All assets and liabilities held in foreign currencies are translated into Sterling at the rate of exchange at the balance sheet date. Translations in foreign currencies during the year are translated into Sterling at the rate of exchange on the transaction date. All exchange differences are taken into account in arriving at the result for the year.

Tax Status

The Trust is a registered charity within the definitions of section 506(1) Income and Corporation Taxes Act 1988 and therefore is not assessable to Income Tax on any surplus charitable funds.

Fund Accounting

Funds held by the charity are:

Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.

Designated funds – these are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.

Restricted funds – these are funds which can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

The Trustees make transfers between funds when expenditure is to be met from more than one type of fund. The maximum level of these transfers is agreed by the Trustees prior to the expenditure.

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Note 2. Net incoming / (outgoing) resources

2023 2022
£ £
This is stated after:
Auditor’s remuneration - In relation to audit work 5,682 5,265
- In relation to other work 2,232 5,112
Depreciation 17,885 18,507
Operating lease payments 66,155 40,875

Note 3. Voluntary income

2023 2022
£ £
Donations 818,135 656,618
Gift Aid 20,563 21,032
Honoraria 99,851 18,305
Total 938,549 695,955

Note 4. Charitable expenditure

Other Total Total
Salaries Depreciation costs 2023 2022
£ £ £ £ £
Grants made (see note 7) - - 16,991 16,991 19,243
Resource production costs 51,511 2,146 46,467 100,124 63,790
Resource sales costs 70,827
2,951		 33,191 106,969 70,716
Training costs 19,317
805		 19,915 40,037 28,125
Conferences 27,902
1,163		 39,829 68,894 48,914
Missions 141,655
5,902		 318,633 466,190 328,960
Support costs 109,462
4,560		 192,506 306,528 231,529
Governance costs 8,585
358		 5,683 14,626 16,269
Total 429,259 17,885 673,215 1,120,359 807,546

Note 5. Governance cost

Note 5. Governance cost
2023 2022
£ £
Staff salaries 8,585 10,499
Professional fees 5,683 5,265
Office and other costs 358 505
Total 14,626 16,269

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Note 6. Staff costs

Note 6. Staff costs
2023 2022
£ £
Wages and salaries 369,206 326,189
Social Security costs 38,090 38,206
Pension costs 21,963 20,565
Total 429,259 384,960

Staff numbers

Staff numbers
2023 2022
Evangelism 2 2
Support and administration 8 7
Average number of monthlyfull-time equivalent employees 10 9

During the year, there were 3 (2022: 3) members of staff who are considered key management of the charity. They received remuneration totalling £140,478.37 (2022: £129,669). Included in this was £64,978.29 (2022: £63,668) which was paid to one member of staff.

No remuneration directly or indirectly out of funds of the charity was paid or payable for the year to a Trustee or any persons known to be connected with them in their capacity as Trustees (2022: nil). No reimbursement of expenses has been made or is due to be made to any of the Trustees in respect of the year (2022: nil).

Note 7. Analysis of grants made

Grants to Grants to Total Total
institutions individuals 2023 2022
£ £ £ £
Grants to carry out Christian ministries
and evangelism		 1,000 15,991 16,991 19,243
Total 1,000 15,991 16,991 19,243

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Note 8. Fixed assets

Cost:
At 1 April 2022
Additions
Disposals		 Fixtures &
Fittings
Leasehold
Improvements
Office
Furniture &
Equipment
Total
£
£
£
£
45,790
20,087
107,566
173,443
1,648
26,542
28,190
-
-
(46,290)
(46,290)
At 31 March 2023 47,438
20,087
87,818
155,343
Depreciation:
At 1 April 2022
Charge for the year
Disposals		 22,556
8,035
85,497
116,088
4,662
2,009
11,213
17,884
-
-
(46,290)
(46,290)
At 31 March 2023 27,218
10,044
50,420
87,862
Net Book Values:
At 31 March 2023
At 31 March 2022		 20,220
10,043
37,398
67,661
23,234
12,052
22,069
57,355

Note 9. Stock

Note 9. Stock
2023 2022
£ £
Books and DVDs 95,310 89,127
During the year the amount of purchased stock expensed had a value of £95,774.

Note 10. Debtors

Note 10. Debtors
2023 2022
£ £
Trade debtors 11,200 11,104
Gift Aid 20,562 21,032
Accrued income 1,583
Employee loan 4,250 7,250
VAT 305 2,623
Prepayments and accrued income 56,183 63,409
Total 94,083 105,418

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Note 11. Creditors: Amount falling due in less than one year

2023 2022
£ £
Trade creditors 12,693 11,031
Credit card 19,328 7,260
Accruals 21,403 22,675
Pension 2,122 -
PAYE Creditor 9,412 10,419
Total 64,958 51,385

Note 12. Funds

Balance Brought Income Expenditure Transfers Balance
Forward Carried
Forward
£ £ £ £ £
Designated –
Fixed assets		 57,355 28,190 17,884 - 67,661
Evangelists
Conference		 21,565 29,623 60,909 16,687 6,966
General funds 448,551 1,066,063 1,046,682 (16,687) 451,245
Total 527,471 1,123,876 1,125,475 - 525,872

The Fixed Assets fund is established to take account of the future use of fixed assets.

The Evangelists’ Conference fund recognises that deposits were made at the 2023 conference for the 2024 conference. The fund has been set up to match the income received for the conference against the expenditure of the conference due to occur in January 2024.

Note 13. Analysis of net assets between funds

Unrestricted Designated Restricted Total
Funds Funds Funds
£ £ £ £
Fixed assets - 67,661 - 67,661
Stock 95,310 - - 95,310
Other assets less
current liabilities		 355,936 6,965 - 362,901
Total 451,246 74,626 - 525,872

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Note 14. Operating lease commitments

2023 2022 2023 2022
Land and Buildings Other
Amounts due: £ £ £ £
In less than one year 33,000 31,874 11,788 10,430
In one to two years 33,196 33,000 3,927 6,896
In two to five years 84,658 22,000 - -
In more than fiveyears - - - -
Total 150,854 86,874 15,715 17,326

Note 15. Capital commitments and contingent liabilities

There were no capital commitments or contingent liabilities at 31 March 2023 (2022: nil).

Note 16. Related party transactions

During the year, the charity received donations totalling £6,120 (2022: 4,600) from 3 (2022: 3) Trustees.

Note 17. Control

There is no ultimate controlling party.

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