REGISTERED COMPANY NUMBER.. 01722963 IEngland and Wales) REGISTERED CHARITY NUMBER: 287182 (OMPAKIES HO SE FINAN(IAL STATEMENTS REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 FOR THE WNGING WORLD LIMITED {UMITED BY GUARANTEE) ACCfiYYAJ' 14109r2023 COMPANIES HOUSE A43 Langdowns DFK Chartered Accountants King5gale House, North Wng. Ground Flcor Newbury Road Andover Hampshi SP1040U
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Page Chairman's R•port Report of the Trustees 3 to 6 Independent E¥aminerfs Report Statèment of Financial Activitie5 Balance Sheet Notes to the Financial Statements 10 tt1 16
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 After the difficullie5 and financial deficrt of the previous two years, 2022 sented a stable year for The Ringing in which we were able to consdidale and reap the benefits from the work PLrt in by (he slaff and volunteers. There wa5 3 significant increase in ringing aGbvities forthe Queen's Plalinum Jubilee and the funeral of HM Queen Elizabeth 11 for whith special editiorns of the paper wefe produced. It was good to see the large increase in the number of quarter peals and peals rung over the year which. arttK)ugh not reaching pre-p8ndern levets. were rTh)re Ihan double those achieved in 2021. Wilh around 20% of business income coming from donations from quarter peal and pèal bands, this inaSe in ringing activity was very beneficial lo the overall finances of the company. The quality and perlorrnartr from PyramKI Pres5 ha5 rfillA at a very hrgh level throughout the year. Unfortunatety Royal Mail's performance was inconsistent. allh(xJgh swjns of improvement were ewdent later in the year. Personn•l At the 2022 AGM in Nottingham. Richard Wallis st&xl dctywn as a Dwector having served on the Board for over 11 years. We are very grateful for Ihe excellent work he did in lookiro after Ihe accounts. We have been very fortunate to have Graham Bradshaw join the Board. As a Chartered Ar£ountani we are conffident that he Mll be able lo lake good care of our finance$. The were staffing changes during 2022 with our Office Adminislrator. Jackie Kara5 leaving in January a(1 ouf Deputy Editor, Chris Teasdale leaving in May. Both provided excellenl service lo the Ringing Worfd and we We sorry to see them go A new Deputy Editor. Tnsha Shannon. siarted with us in August. Trisha ha5 a strong background in publishing and editing. as well as w01ng in the Church and in thurth-related chartties for many years. For a few months we covered.the Office Administrator using agency staff but in August we were able to make the job permanent when we employed Jo Leigh. Jo bmgs marketing experience to the role and Ihis is already paYg dividends. We are also very gralefvl to our volunteers who pui in many hour5 wth SOare development and dataltypesetting corrections. I would like to thank Richard Smrth and Bill Hibbert for their work on BellBoard and associaled 50th¥are. Phil Moyse and Nigel Herriott for their time responding to BellBoard correctiorts and user quleS and Doug Davis for spending time each week proofreadiro quarler W Submissions. Finance The companies finan5 held up very well during 2022 and we finished the year with a Sufplus of £26,325. Most of this Surplus carne from increased donations aswuated wilh publicatM)n ol ringing perfomwnce up lo £54.554 over the year but we also Fnade a saving salary costs of £29,195 due to staff leaving and not beitvJ plaCed imrTTrediately. WÈ are very grateful to Will Bosworth for taking on additional workload during this perk)d_ The slow decline in postal subscriber numbers continued throughout ihe year falling frorn 1920 to 1850 by the end of the year. This wa5 offset a little by the rise in online subscribers fr(Mn 461 to 470 over the same period. However there was only a marginal dedine in revenue from subscripbons due to the increased cover pric¢ intrt>duced in January 2022. We were subjectto an incTease of £3.893 in printirng costs due to the large rise in paper prices Suffered globally. Fortunately postal cost5 were not incrè35ed in 2022 and with our improved contracl with Royal Mad we achieved a saving of £4,881. BellBoard deve1oerrt 2022 Saw a lot of barkstagework oft all areas of eellBoard. incjuding perfOrnae recording, typesetting and data integrity. much of which was IncMental improvement and some ofwhich grew out of issues such as the 2021 pe81s.to.uk import. the Queen's ju.1ee and death, and the upo)ming 2023 endorsement of eighth-peais. For instance, the Dove Import was rewritten to supporf searching by diocese and affiliated 8sSOC4ati¢)n. we have a nèw admrn-editale help page system, and there is vastly rrore effiryent codeforsaving ringets. names in the database. The challengeof coping wth the extraordinarily high period5 of subfflission arKI viewing around the Queen'5 death, aThJ the typesetting requirements created. should not be understated, northe constant process of usabiltty improvements. Straddling 8ellBoard and publications. we designed rea$&y popular certthGates lo cord ringing for the Queen's Jubilee and death. Other backstage work ineJudtd imprtsvemtnts to Ihe online slv)p. which works deaY as a fee-free plafforrn for ordellng and dispatching merchandise daity. Work continued on a comptehensNè upgrade to BelBoard's diary. %thich wll improve the ability kn organisers to organise events and ringers, and for users to Ydlow. events which interest them. Page 1
THE RINGING WORLO UMITED LIMITED 8Y GUARANTEE CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The 8ellBoard developers also released the ffirst iteralion of Kolombido HTML, an operFsource lightrleight PHP libiary for HTML generation which 1$ the first of a projected series of low-level libraries to underpin both Dove's Guide and Bell8oard and be useful for other comparable ringing website woiects. Publications After a busy 2021 for new releases, 2022 was a qlieter year. The mapr new publicatson wa5 th? knttlg Green Ringing Book. This is a significant work. acting as a prequel to the'puwe brKJk'. rt contain5 expL3nations. relence material and ideas 101 learners and teachers from Ihe first lesson up to the Plain Bob l Grand5ire t)oubles stège- like the purple book. it attempt5 to be authoritative bul pedagogically neutral. It is our key offeTing to the leamer ringer Maet', its content will be useful in RW material for several years tg come." and rt show5 a con515tent popUlaty. Past book releases continue lo sell as part of an expanding shop colkntion poweTed by a smooth infrastructu. We started selling an A4 version of the Little Purple Ringing Book. Vve also released a Treble Dodging Royal volume in the Criblines Series. attempting to 5timuiqt& interest in the moribund 11>bell repertre the indusion, amoThJ others, of several suggeslions from an artiGle seiies by Simon Gay. Our 2022 Calendar. an expeiiment with a new portrail formal. was less popular than in previous years. The diary remains a solid seller. though it suffers from the gradual reduction of Gustomers wanting physical organisers - the Littje Ringing Book5 5erie5 is rising to use the pefennial diary reference m*erial in a new fotrnat. A new Christmas card design by Clare Griffiths sold well as part of an expanding collectK)n. Youth Contest IRWNYCI In Juty 2022. just 9 rronths after the posl<ov1d contest at Worcester. we were deli9hted to hold the 11th annual Ringing World National Youth Contest at Exeter. 23 bands attended- 7 ringing methods and 16 ringing call changes- 2 more than the previous year. Once again, the new Young Change RirrfJers Assotiatth (YCRA) hosted a socsal event in the evening and a full day of ringing activities was thoroughly enjoyed by those attending. Much thanks is due to Dawd Hull who has managed the contest for Ihe last 5 yeats and also to all the rnary ringers who help at these events many stewards, judges and towers ale invofved and their input is much appreciated We a a150 very grateful to the financial sponsors who have supported this event again. This includes the Wwshtpfvl Cornpany of Founders, the Worshipful Company of Girdlers, the WeStY Group and Talent Innovations Ltd. Plans for 2023 Having consulted with a number offocus groups during 2022 to rdenbfy key areas forftJrtherinvesiit1oft, an online surney will be run early in the 2023. The resuts of Ihi5 survey will published in full along wrth an anatysis of the major findings. Page 2
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees who a also directors of the charity for the purposes of Ihe Companies Act 2006. presenl their report wilh the financial statements of the charity for ihe year ended 31 December 2022. The tsu5tees have adopted the provisiDn5 of Accounting and Reporting by Charities.. Ststemenl of Recommended Pracbce applicable to charities preparing their a¢unt5 in accordan with the Financial Rep)rtsng Standard applicab irb the UK and Republic of Irelan¢J IFRS 1021 (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectivès and Activiti The objects forwhich the company was established are to promote aThJ foster the art, saence and history of bells and bell ringing to bellringefs and the general put4ic. and in parb"cular by putdishing educational malerial and historical aichivé5, farilitating communication, encouraging public interest and uniting the ringing cornmunity. The main activities for the year have conb'nued lo be the prc<luclion of The Ringirg Wortd, The Ringing Worfd Diary and The Rirging Worfd Cakndar. also operation and devdopment of BdlLN)ard and The National Youth Contest. Publlc Benefit The principal benefits Offe by the Conwany are". 1. Support for and encour8gemenl of the ringiThJ of bells through the Fxjblication (rf a weekly magazine devoted to finging he Ringing Worfdl, which contains records of ringing perfomances. notices of meetings of ringers and much informatson about bells arKI ringing and pYov4d85 a forum for debate ringing topcs. 2. The regular publicalDn in The Ringvw World of a variety OfarficS aimed to 8SStst in Ihe promlOn of ringing, I[jUding artides on.. . The recruilment and IrainiNJ of new ringers.. Educational nalt1 aimed to assist ringers at various stages of rinuwng alylity.. The restoration. rna1ntenan and upkeep of rings of t115". History which show how present ¢Jay ringers are continuing a long tradit of rirKJir4J as a specialised art forn. . Legal and good Fwactice issues. 3. The publiration of a diary for ringers. whKh contains instructions. a(fvice and contact details lating to the ringing of church bells as easily accessible relerence material. 4. Org8nisation Iwilh strong kical inrAJt} ofa bellringing rnntestfor mgers below the age of 18- The National Youth Contest. S. Operation and de¥ek1peI of Bellboard - an on-line flIlty for submission. tecording and analysing of ringing perfomiances. The nelaleS 8Te polentialty all those vtho pathpate in or take an interest in the ringing of church bells. particulady but not exdusively bells hung for ringiThJ full urde in the English IraditKJn. Anyone in reasonable health over the 8g¢ of 10 can seek lo become a ringer. It is estsmated that there are some 2S.030.(xJo active ringers, ofwhorn some 2,300 are SLJbs¢ribers to The Ringing WoAd. Bells hung for ringing in the English tradition occurthroughout the Brth"sh Isles and In ¢ertain wunlries over5ea5. espeGi8lty the USA. Cana(la. Australia and New Zealand. While the cost of subscfipts.ons to The Rging World is modest and shcwJld not deter those on low incomes, many who are not subscribers read copies purchased by others or on behalf of their local band. or benefit in other way5. ACHIEVEMENT AND PERFORMANCE These are detailed in the Chairnan's re (pryes 1- 2}. FINANCIAL REVIEW Principal funding sources In addition to irKome Irom sales of The Ringing Wortd. the Diary. the Calelar and other products and from a¢Jvertisers, Ihe C¢)mpany has recwved generous (jOnatn5 frryn readers ar arnounting to £54,55412021 ". £27.7631 Invesknent policy The majorty of the Companys reseNes have Invested in acc¢)unts wilh M&G Charity Investments and the Uniled Trust Bank at interest rates of between 0.1% and 1.. These fvnds are protected under the Financial Services Compensation Scheme. In March 2022 the Board made invesirnents wilh M&G and CCLA with the aim of eaming 8 higher retum while keeping risk as low as possible. The Board sees Ihese as long term investments and are not Èxpected to be realised in the Short term. Page 3
THE RINGING WORLD LIMITEO LIMITED BY GUAFiANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OECEMBER 2022 FINANCIAL REVIEW Reserves policy Arising from surplu5 on the Income and Expenditure Attount. the reseNes stand at £190,598 after allowance of £125,010 has been made for creditws. amounts falling due ¥In one year. The main element of Ihis allowance is for pre-pavj subscriptions. The reserves policy wa5 reve in 2015 and is nowto be able at anytimelo conduct an orderfy shutdown ofthe business without recourse to the plJged memters. funds and to deal any unexpected significant rthst5. The Directors do not envisage any arcUrnstans whereby the business would have to be shut down with less than 3 months. notice. Based on a conseThative recalculation of detailed shul down cosis, the board settled on a minimum reserves level of £110k for 2016. In part this ffected the offe lease cancellatKJn cosls. The office lease has been renewed bwth shorter break periods. The minimum reserves level will need to be recalculated bul it is unlikety to make a material drfference. Even after the f nancial deficits of the past years. the re5eNes rernain 5uffio.ent to cover Ihis minimum level. FUTURE PLANS See Chairman's Report. STRUCTURE, GOVERNANCE ANO MANAGEMENT Governing document The organis3tion is a charrtable company limited by gu8rdntee. as defined by the Companies Act 2006. incorporated on 12 May 1983 and registered a5 a tharity on 21 June 1983. The company was established under a Memorandum of Association which established the objects and powers of the charttable company and is govemed under rls Articles ol A5S0Clation. The Memorandum of AssociaiKTrn was last revised on 7 September 2019 to amend the Charity's objects to promote and fosterthe art, saence and history of bells and bell ringing to bellringets and the general public, and in particular by publishing educational material and hislorical arthives. facilitatin9 commtsnication. encouraging public interest and uniting the ringing comrnunity. The Articles of Asso<iation We revised in 2(M)4. In the evenl of the company being wound up mernbeis are requiied to contribute an amunl not exceeding £10 each. Recruitment and appointment of new trustees The directors of the company are also charity ttustees for the wrposes of charity law. Under the reqwrements of the Memorandum and Arb"des ol AssclatIOn one-lhird of Ihe Trustees reti each year and rnay offer themselves for re- election. R D Crighton and E R Ainsworth retiro by rolth.on arKI seek te-elecon. The Trustees are eleded by members of the company at the annual ffeeting. Nominees are rM)mially practising bell ringers. Efforts are made to ensure Ihal those rK)rninated have such additional business skills as a required to meet any identified skill shortsge5. Th& Trustees may appobnt pet50ns to be Inbstees on an interim ba51S to fill vacanrjes. Organisational structure The Board of Directors meets at least four tirTES a year aryl is res[5) for the strategic direction and policy of Ihe harity_ There are currently six diredors frorn a variety of professional backgrounds relevant to the work of the charity. Day to day responsibility for the production of The RingifvJ World, The Ringing Worfd Diary and The Ringing Wtsrfd Calendar rests with an Editor. who reFw)rts to the Chaimwn. He supervises olher staff 8nd ensures that thèy continue to develop their skills and working Pfactsces in line with gocvJ practice_ Induction and training of new trustees New trustees are normally reader5 of and subscribers to The Ringin9 Wofyj. Most, but not all. are or were rnembers of the Cofflpany and. 85 such, afe familiarwth Ihe c¢)mpan$ acb"V"es. As soon as possible after appointrnenl new ttustees visit the Cornpany'5 offices to meet the staff and to leam about the prsseS involved in produciion ofThe Ringing Wortd, The Ringing Wodd Diary and The RingirrfJ World CaleThlar. They also meet wth the Chairman and other trnstees as relevant to discuss the extent and nature of their role. The Company Secretary now monrtors the Charity Commission website and its Alerting Facility to keep up to date wilh charity legislation chan9es an(J passes the inlomiation on regvlarty. If il is felt appropriate. external training in the rde and reSponsible5 of a charity trustee will be made available. Related partiès The Company woths closely 7Mih the Central CcyJnal of Church Bell Ringers Iregisteied tharity no. 27381. The members of the Company are Ihose members of the Central Council who have indicated a willingness tu bè Company members. The Ringing Worf¢J is used to wblicise the work of the Central Counril. The Pte5idÈnt oflhè Central Counc is kept infomied of what The Ringing World is doing bul no longer attend5 Bts8rd meeb"ng$. Page4
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 310ECEMBER 2022 REFERENCE ANO ADMINISTRATIVE DETAILS Registered Company nurnber 01722963 IEnglarKI and Wates) Registered Charity number 287182 Regrstered offi¢e 35a High Street Andover Hampshire SP10 1LJ Tte9S Mr R J Wallis {rewgned 3 September 2022) Or C Roulstone (resigned 3 Septembei 2022) MrGRDLay Mr R D Crighton Ms E R Answorlh Mr P Jopp Mr G M Bradshaw {apwinted 3 Septemt*f 2022) Company Seeretary Mrs M Bone Independent Examiner Graham Taylor Institute of Chartere(l Accountanls in England and Wales Langdowns DFK Chartered Accountants Kingsgale House, North Win9, Ground Flix)r Newbury Road Andover Hampshire SP10 4DU Senior management team W T. Bosworth - Editor Page 5
THE RINGING WORLD LIMITED UMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 STATEMENT OF TRUSTEES. RESPONSIBIUTIES The Iruslees (who are also the directors of The Riroing World Limited for Ihe pur[e5 of cornpany law) are responsiblè for prepanng Ihe Annual Report and Ihe finanrial statements in accordance with ap1¢able law and United Kingdom Accounting Standards {Unrted ngdorn Generally Arxepted AInting Prxticel. Company law Qui$ the trusteès to prepare financial statements for eath finanu31 year which give a ifue and fair view of the state ol affairs of the charitable company and of the irKoming resources and applicab.orb of resources, including the Income and expendrture. of the charitable coN¥)any lor that penod. In preparing those fw)ancial statements, the trustees are required to select suilable accounting pclicies and then apply them consistentty., observe the methods and prinaples in the Charity SORP., make judgernents and eslimates that are reasonab and prJeTrt: prepare the financi81 stalemenls the goiThJ concem basis unless it 15 apprOprIate lo presume that the Gharitable cornpany will ronlinug in IxJsirEss. The trustees a spOnSIb for keeping proper accountirrfJ COrdS which disdose with reasonable accuracy at any time the financial positKn of the charitable company and to Ènable them to ensu that the financk?I statements c¢)mply with the Cornpanies Act 2006. They a also s)nSIble for safeguarding ihe assets of the charilable crynpany and hence for taking reasonatAe sleps for the prevention and detection ol fraLJd and olher irregularths. This report ha5 been prepared in 8(LOrdan with the special provisions of Part 15 ofts Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 28 Juty 2023 and svJned on its behall by.. Mrs M Bone- Seryetary Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RINGING WORLD UMITED Independent examinerf$ POrt ¢0 the trusttes of Ringing World Limited I'the Company'l I report to the charity tru51ees on rny examinalion ofthe acccwJnts of the crpanY for the year ended 31 December 2022. Responsibilities and basis of report As the thanly's trustees ol the Company (and also its diTectcffs foi the purposes of company 18w) you are responsible for the Pfeparation of the accounts in acCOrdan.th ihe requirements of Ihe Companies Act 2006 (the 20C6 Aci'l. Having satisfied rnyself Ihat the accounts of Ihe Company are not required to be audrted under Part 16 ofthe 20( Act and are eligible for independent examinalion. I report in respecl of rny examinalE(m of your company's accounts a5 carried out under seclion 145 of the chareS Act 2011 Cthe 2011 Ad?_ In G4rryin9 Out my examination I have foHowed the Directions given by the Charity Commission urKler sectyon 145151 (b) ofthe 2011 Aci. Independent examine5 statémènt Since your company's gross income exceeded £250,) your examiner must be a member of 8 body listed in seclion 14S of the 2011 Act. I can confirm that l am qualified to undertake the exarnination because l am ¥ registered member of the Instrtute ol Chartered Accountants in England and Wale5 whKh is one of the listed bodies. I have completed my exarnination. I confilrn that no matters have come to my attenlion in Connect vthh Ihe ex8ryMn8tion 9iving m8 Cause to believe that in any material respect". accounting records were not kept in SpeCt ol the Company as required by section 386 of the 2006 Act". or the accounts do not accord with those records.. or the accounts do not cornpty wilh the COUntIng requirement5 of section 396 of the 20(6 Act other than any requiremènt that the accounts give a true and fair view which is not a matter considered as part of an independent examination", or the accounts have not been prepared in accordance 1h the method5 and principles of the Statement of Recornrnended Practice for accounting and reporting by charitie5 1atv1ab1e to charities preparing their accounts in accordance th the Firbancial Reportirvj Standard aprAK2ble in the UK and Republic of Ireland IFRS 10211. I have no concems and have come across no other matters Trn C(neCt with Ihe examination to which attenlion should be drawn in this port in order to enable a proper understanding of the w)unts to be reached. Grah8m Taylor Institute of Chartered Accountants in EThJland and Waks Langdowns DFK Limited Chartered Accountants Kin9sgate House, North Wing, GrouThJ Floor Newbury Road Andover Hampshire SP10 4DU 28 July 2023 Page 7
THE RINGING WORLO UMITEO LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVTrtES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 2022 Unrestricted fund 2021 Tol81 fvnds Notes INCOME AND ENDOWMENTS FROM Donalions and legaTres 54.554 27,763 Charitablè aetivities The Ringing Worfd The Ringing Wodd Oiary 198.5S7 14.448 200,610 14,185 Other trading actiwties Investment incorne 44.073 2.020 47,094 1,226 Total 313,652 290,878 EXPENDITURE ON Raising funds 37.163 41,842 Charitable activities The Ringing Worfd The Ringing W0d Diary 240.229 6,948 252,821 8,852 Totsl 284.340 303,515 Net gains I Ilossesl on investments NET INCOMEIIEXPENDITUREI 26.325 112,637 RECONCILIATtON OF FUNDS Total funds brought fonrd 164.273 176.910 TOTAL FUNDS CARRIED FORWARD 190 598 164.273 The notes lom part ofthese financial statements Page 8
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE BALANCE SHEET 31 DECEMBER 2022 2022 Unrestricted fund 2021 Total funds Notes FIXED ASSETS Tangiblè assets Inveslrnen15 12 77.015 CURRENT ASSETS Stocks Debtors ash at bank 8nd in hand 13 14 12,559 11.89S 214,139 12,461 15,129 269,299 238.593 296.889 CREDITORS Amounts falling due wthin one year 15 1125.0101 1132.618} NET CURRENT ASSETS 113.583 164.271 TOTAL ASSETS LESS CURRENT UABIUTIES 190.598 164.273 NET ASSETS 164.273 FUNDS Unrestricted lunds 16 190598 164.273 TOTAL FUNDS 190 $98 164.273 The charrtable eompany is entitled to exernptK from audit under Sedion 477 of Companies Act 2006 frjr the year ended 31 Oecember 2022. The members have not U•re the CA)mpany to oblain an audit of its finartial statements for the year ended 31 December 2022 in accordance wrth Sectw)n 476 of Ihe CLvnpans Aci 2006. The trustees acknowledge their responsibilit5 for la) ensuring that the Charitab c4mpany keeps a¢¢txJnting records that comFty with Sections 386 and 387 of the Companies Ad 20( and preparing financial statements wfM"ch gNe a true and fair view ol the state ol affairs of the charitable company 38 at the end of each finanoal year and of its surplus or dert for each finanryal year in aGwrdance thè quirements of Sections 394 and 395 and which otheise cornpty with the requirements of the Companies Act 2006 relaling to finanaal ststements, so far as applicalje to Ihe charitabbe company. Ib) These finan¢ial statements have Lwn ppare<l in a¢cordan( the provisions applicable to charitable coryanies subject to the small wnparies regime. The financial statements were approved by the Board of Twstees and authorised for i55ue on 28 Juty 2023 Ènd wère signed on its behalf by.. Mr G M Bradshaw- Truslee The notes fomi part of these financaal statements Page 9
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIES Basis of preparin9 the financial statements The financial statements of the charitable company. which is a public benefft entity under FRS 102. have been prepared in accordance with Ihè Chatities SORP IFRS 1021'Accounting and Reporting by Charities.. Statement of Recommended practi appIable to tharities preparing theiraw>unts in awirdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecltve 1 January 20191,, Financial Reporting Standard 102 The Finanaal Reporting Standard applicable in the UK and Republ of Ireland. and the Companies Act 2006. The financial statements have been prepad under the historical cost convention. The financial statements a pwesented in SterfiThJ. vthich is also the fvnctional currency ofthe company. The finanrial 5talement5 have been prep8red on a going (x)nceffl basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected le¥el of income and expendrture for 12 month5 from atjthofising these finanGial statements.Thè budgeted income and expenditure is sufficient the level of reserves for the chafrty to continue as a going concem. Income All income is recognised in the Slatemenl of Financial Activiibes 0e Ihe chanty has entrtlement to the funds. it 15 probable that the incAJme will be received and the amount can be measured ieliatty. Donations and legaaes income is receNed by way of (>nabs and is ilded ui full in the Statement of Financial Actiwlies when rec&vable. Incorne from charilable aCtltIeS is accounted for when eamed. Therefore. an 8ppropriatè proportion of income received is deferred each year. Investment income is included when receNable. Other trading 8¢tivities cOme 1$ receNed by way of lverliyng. noti¢s and merchandise and is included in full in the Staternent of Finanoal Acbvitses whEn r8ceivable. Expenditure Liatx'lities are re¢ognised as expendrture 85 soon as there is • leg4 or¢onstructive obligation committing the charity to that expenditure, it is probable that a transfer of economK benefts wil be required in settlement and the arnount of the obligation can measured reliably. Expenditure is accounted for an accruals basis and has been dasstfied under headings thal aggregate all cost related to the category. Where costs canrK)t be directly attiibuted to partiwlar hgadings they have been albGated lo aGti¥ities on a bashs consistent Trth the use ol resources. Expenditure on raising funds conyrise Ihe costs assocrated with attracling voluntary income and secumg trade acfvertisemenls and notices. EXrliture on charitable zctivities rx>mprises Ihose Sts irKurred by the charty in the delivery of its activities and seNices for its benefickaries. GoVernCe cosls are no longer shown as a separate expense category to charity. The experNliture is shown a5 a support cost and allocaled beknn the above expense categories on a basis designed to reflect thÈ use of the resource. The cOmparat figure5 are adjusted accordirgly. All costs are alktated ben èxpenditure catwes of the Stalement of Financjal Activities on a basis designed to fleCt the use of the resource. Costs relatiThJ to a partioJlar adiwty a allocated directly, others are apporboned on an appropriate basis. supp costs are allocated by the company. on the basis of a reasonable estimate using f oor areas, slaff time and usage. Support costs are no longer allocated lo govefftance cost5 as a category expense. Support CQSts that were previousty allorated to governar Gosts hav¢ been reallocated to expenditure on raising fiJnd5 and expenditure on GharitatAe adNities. The u)mparab"ve figures are adjusted accordingly. Tangible fixed assets Depreciation is Pfovided at the followng annual rates in order to wriie off each asset over its estimated useful life. Page 10 continued...
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2022 ACCOUNTING POLICIES . continued Tangible fixed assets Fixed assets are slated at cost less acmlated depreuation. Thè tosls of short lrfe assets. IrlUding infomiation technology equiprnent. and rninor additions are not capitalised. Depie(iation is calculated on the straight-line basi5 50 as to write off the c051 of each a&set over its extled lrfe. which in all cases is estimated at 5 years. Investrnents Investments are recJ)gnised Inthal at laii value whith is nomalty the transaclion price e¥d[ing transaCtn costs. Subsequentty, they a measured at lair value with changes recognised in'nel gains l (lossesl on investments. in the SOFA if Ihe shafes a public traded or their fair Value can otheise be measured rdiably. Other investments are measured at cost less impaimenl. Stocks Siock 15 valued at Ihe lower of cost and net realiSab value and conslsts of various Ringing Wortd merchandise. There is no stock carried foryrard for the Diary and Calendar a5 these are not actively marketed after 1 January. Taxation The charity 15 exempl from corporatv)n tsx on tts charitat4e actNitEs. Fund accounting Unrestricted funds can be used in accordance 7ri¢h the chariiable objectives at the discretion of the trustees. Restricted funds can only be used for particukr reslricled purposes wilhin the obj.eds olthe charity. Restrictions arise when 5peofied by the donor or when fvnds are raised for particular iestricied purposes. Further exana.0 of the nature and purwse of each fuThJ induded in the rte$ to the financsal statements. Foreign ¢urren¢ies Assets and liabilities in forewjn currencies are translated into slerfing at the rates of exchange ruling at the balance sheet date. TransactK)ns in foreign currenues a translated into slerfing at the rale of exchange njling at the date of transaclion. Exchange drfferences a taken into accwnt in arriving at Ihe operating result. Hire purchase and leasing e¢)mmitments Rentals pai(J under operabng 3$eS a charged to the Statement of Finanaal Actiwties on a straighl line basis over Ihe period of ihe lease_ Pension eosts and other post-rttirtment benefits The chantable company operates a defined contribution pens)n scheme. Contribution5 payable to the charitable coMpanS pension scheme a charged to the Statement of FinaTrial Aclivity"es in the period to whith they relate. Trade debtors Trade and other debtots are Measu at trarCl10n vahJe kss a)y impaimient losses for bad and doubtful debts. Cash and cash equivalents CÈ5h and cash equivalents c(xnpnst r25h hryhty IiqLid bank actounts.. Trade and other crndito Trade and other creditors are Measu at transaction value. DONATIONS AND LEGACIES 2022 2021 Oonations and legaaes $4,554 27.763 Page 11 continued...
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 OTHER TRAOING ACTIVITIES 2022 2021 Ringing Wortd Calendar Advertisements and not*ces Sundry receipts Miscellaneous product sales 5.769 9,950 1,SOO 26,854 6,279 8,636 1,625 30.554 44.073 47.094 INVESThIENT INCOME 2022 2021 Interest receNable 2.020 1.226 INCOME FROM CHARITABLE ACTIVITIES The piincipal lunding sourr£ for the charilable aclivities is the subsuiption irncomÈ for Thè Ringirng which spans the year end. An appropriate propK)rtion of this inwne is ¢Jeferred each year and reported in note 15. SUPPORT COSTS Inforrnalion technol(yJy Human resource5 Managerrenl Other trading activities The Ringing Worfd 1.954 648 10,857 19,540 86.857 Staff expenses Govemancè costs Miscellaneous Totsls Other trading activitEs The Ringing Wowld 154 876 615 2.460 905 15.133 106 374 1.030 3.07S 4,524 121,507 Aetivity to bè allotated Management Information techrKJlogy Human resources Miscellaneous Staff expenses Governance costs Costs allocation on this bas1S floor areas, staff time. usage etc floor aa$, staff lime. usage etc Staff lime FI¢)r areas Staff expen Usage Page 12 o)ntinued...
THE RINGING WORLD LIMITED LIMITED BY G ARANTEE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 SUPPORT COSTS- Continued Support costs. included in Ihe above, are as follows.. 2022 2021 Othèr trading ad1Ve$ The Ringing World Total actNlties Total activities Rent and services Telephone Postage ènd stèt)nery Office services Compuier costs Wages Social security Pensions Miscellaneous Staff expenses Trustees, expenses Accountancy arky legal fees 1,519 134 143 158 13,673 1.203 1.285 1.425 5,833 73.095 1.563 1,342 876 2,460 619 3.000 15,192 1.337 1.428 1.5B3 6.481 83,537 1,786 1,534 1.030 3.075 774 3,750 12,568 1.131 2.059 3.138 10,135 116,857 5,309 1,930 743 2.001 413 3,563 10.442 223 192 154 615 155 750 15.133 106.374 121.507 169847 NET INCOMEIIEXPENDITURE) Nel incomellexpenditure) is Stated after tharg{CRlti"ng}: 2022 2021 Other operating leases Accountancy 12.568 2.950 12.568 4,000 TRUSTEES, REMUNERATION AND BENEFITS There were no trustee5' remuneration 01 other berffts for year ènded 31 December 2022 nor for the year ende(131 December 2021. Trytee$. expenses 2022 2021 Trustees, expenses 774 413 Travel $ts and ¢Jisbursements amounling to £77412021 - £4131 were 4MburSed to 4 trustees Q021 - 4) STAFF COSTS 2022 2021 Wage$ and salaries Social security costs Other pension costs 83,537 1,786 1.534 116.857 5.309 1.930 86.857 124,096 The avèragè mnthly numbtrof Èmpltyees during the year was as fc4lcws'. 2022 2021 Editoiial and administratic Page 13 continued...
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 31 DECEMBER 2022 STAFF COSTS- ¢ontrnued No employees reGeived emolurnent5 in exce55.of £60.(. No 8mployÈè is paid more than £60,(MIO per year. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES The cornparatives for the statement of financial aciivities are all unrestricted funds. TANGIBLE FIXED ASSETS Improvements to ComptAer equiK¥nent Totals COST At 1 January 2022 and 31 December 2022 8.088 5,760 13.848 DEPRECIATION At 1 January 2022 and 31 December 2022 8,087 13,846 NET BOOK VALUE At 31 December 2022 At 31 December 2021 12. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1 January 2022 Addrtions Disposa15 Revaluat)n$ 80.000 2,9871 At 31 December 2022 NET BOOK VALUE At 31 December 2022 77.013 At 310¢¢ember 2021 All listed investments are held in unit tnjsts. 13. STOCKS 2022 2021 Stock ofmerchandise 12,559 14. DEBTORS.. AMOUNTS FALLING DUE IPIITHIN ONE YEAR 2022 2021 Trade debtors Gift aid tax recoverable Other debtors Prepayments and accrued income 2.214 4.947 1,380 8,355 614 4,780 4.734 15.129 Page 14 continued...
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022 15. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2022 2021 Trade CditOrS Social security and other taxes VAT Other ciedrtors Subscriptions ce¢eived rn advanc Accrued expenses 4.603 1.171 931 3,747 99,362 15,196 2,759 3.376 1.685 5.754 103,880 15,164 125.010 132,618 16. MOVEMENT IN FUNDS Net movemenl IA funds Al 31.12.22 At1.1.22 Unrestricted funds General fund Revaluation Reserve 164,273 29,312 {2,9871 193,58S 12.9871 TOTAL FUNDS 26.325 190598 Net movement in funds. induded in the above are as follo¥•8.' Incoming ourfje$ Resources expended Gains and losses Movement in funds Unrestricted funds General Fund RevaluatK)n Reserve 313,652 1284,3401 29.312 2,9871 2.9871 TOTAL FUNDS 313.652 2.9871 26.325 Comparatlves for mgvement in funds Net movement in funds At 31.12.21 At 1_1_21 Unrèstricted funds Genefal fvnd 176.910 112,63n 164,273 TOTAL FUNDS 176,910 164273 CornparatNe net mvement in fvnds. induded in the above are as fotbws.. Ino)ming resources Resources expended Movem8nt in funds Unrestrietèd funds General turKI 290,878 1303.5151 112,6371 TOTAL FUNDS 290.878 303,5151 12.6371 Pa9e 15 continued...
THE RINGING WORLD LIMITED LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2022 17. OTHER FINANCIAL COMMITMENTS Total fU1u financial commitments. guarantees and n11ren0e5 which are not included in the balance sheet amount lo £10.250 (2021.. 20,51)01. Thi8 amount 15 in relalion to operatiry le8s0 commilments whtch are payable in Ihe next year. 18. RELATED PARTY DISCLOSURES Donations tr)talliny £880 {2021". £NIL) were received from one trLkStee in respect of The Ringing Worfd National Youth Contest. There We no other related party transaclic¥)s for Ihe year ended 31 December 2022. 19. ULTIMATE CONTROLUNG PARTY Those members ofthe Central Councal ofchurth Bell Ringers who have indicated their llingneSS to be members of the tharitsble company ebeci the Board of tlireclor5 to acl on their tshaff. Page 16