Charity number: 295332
Kingston Bible Trust
Unaudited
Trustees' Report and Financial Statements
For the year ended 31 December 2022
Kingston Bible Trust
Contents
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 6 |
| Trustees' Responsibilities Statement | 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 - 20 |
| Accountants report | 18 |
Kingston Bible Trust
Reference and Administrative Details of the Charity, its Trustees and Advisers For the year ended 31 December 2022
| Trustees | O Watson |
|---|---|
| J E Fielder | |
| G J Mackenzie | |
| Charity registered number 295332 Principal office 12 Wembley Gardens Lancing West Sussex BN15 9LX Accountants Kreston Reeves LLP Chartered Accountants 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ Bankers National Westminster Bank plc 21 East Street Shoreham By Sea West Sussex BN43 5ZP HSBC 1-3 Warwick Street Worthing West Sussex BN11 3DE Solicitors Rix & Kay Solicitors LLP 7 The Drive Hove East Sussex BN3 3JS |
Page 1
Kingston Bible Trust
Trustees' Report For the year ended 31 December 2022
The Trustees present their annual report together with the financial statements of the Kingston Bible Trust for the 1 January 2022 to 31 December 2022.
The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (FRS 102) (effective 1 January 2019) applicable in the UK and Republic of Ireland, and the Charities Act 2011.
Objectives and activities
a. Policies and objectives
In accordance with its Trust Deed of June 1972, the Kingston Bible Trust provides bibles, hymn books, and printed Christian ministry at, or below, cost, and sometimes, (where genuine financial and spiritual need is deemed to exist), gratuitously, worldwide.
The charity seeks to fulfil the original Trust deed of 1972 (updated on 21st November 1997 and 27th June 2007), The trustees endeavour to ensure supplies of Christian literature are available to meet the spiritual needs of enquirers throughout the world, for the increase of Christian knowledge and the gospel concerning Jesus Christ.
In decision making and in preparation of this report, the trustees confirm they have had regard to the Charity Commission guidance as to public benefit of the Trust, so that the fulfilment of its purpose remains beneficial and relevant to the needs of the public in a charitable and provisional manner.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
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Kingston Bible Trust
Trustees' Report (continued) For the year ended 31 December 2022
Achievements and performance
a. Main achievements of the Charity
The trustees have maintained regular monitoring of demand for literature and have reprinted several items accordingly. Hundreds more bibles were re-printed. The Chairman of the trustees visited the printers (Holland) regarding this matter. The website has been updated, and again, the Chairman visited the website design/maintenance company (UK), and the accountants, on separate occasions.
A decision was made to generally withhold supply of items before payment is received. We received a number of new customers, some who stated that they had struggled to find the JND translation of the scriptures elsewhere.
Demand for Gospel tracts increased. Bookshops have been ordering large quantities of literature (especially in USA). Enquiry was made, asking for urgent supply of bibles for Ukraine. We were able to provide details of a Christian supplier of such items printed in the Slavic language.
If the Trust fulfils its objectives, the trustees believe they have simply done what it was their duty to do. If it exceeds the objectives, it is traced to God for the demand on the part of the customers, and strength granted to meet the demand, on the part of the trustees. Sales are up year on year and demand is largely met within a reasonable time-frame. The year was encouraging.
Postal costs, (and in many instances, printing/publishing costs), are almost always subsidised by the Trust.
No fundraising is carried out by the charity, but, as mentioned above, several personal gifts and legacies were received. The trustees remain grateful to those responsible for gifts and financial contributions, as these are very valuable to the aims and continuing existence of the Trust.
Throughout 2022, interest rates on savings remained low, but reserves are wisely invested, and the accounts reviewed at least monthly.
On-going, legitimate, legally required, and ‘in best interests’, expenses, for such items as fire extinguisher maintenance, Portable Appliance Testing, insurance, etc, are taken care of and overseen, at the Trust's depot.
Trustees did not increase their travel costs (road travel by mile) despite this being an option. Many items such as refreshments, practical aids/packing materials for distribution of literature, accommodation, etc, were unclaimed by the trustees in order to further the charitable benefits of the Trust.
Some publications have been in increasing demand, to the extent of various items becoming extremely depleted. Other, already low stock quantities, are reviewed from time to time, with a view to analysing demand over past/recent years, with supply costs of minimum order quantities etc. A printing company in Dublin have reproduced several such items at very reasonable cost. The same firm provides a very acceptable print run of the Trust's bi-monthly periodical produced/edited by the Chairman of the Charity.
The trustees are unpaid, other than for the reclaiming of some expenses where applicable.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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Kingston Bible Trust
Trustees' Report (continued) For the year ended 31 December 2022
b. Reserves policy
It has been, and remains, the policy of the Trust to maintain sufficient reserves for expenditure and overheads of the charity’s depot for a period of at least 12 months without income (proven to be especially useful; throughout the downturn in sales during Covid-19 pandemic). In the current financial climate, the trustees feel this to be appropriate and reasonable.
Funds are easily transferable between investment and current accounts. The trustees have allowed funds to accumulate in view of the need to reprint several items of printed material in high demand, as well as the addition of new material.
The Trust also provides a “Free distribution Fund” for those deemed unable to pay for costs of supply of items provided by the charity, who would benefit from the same.
c. Material investments policy
The Trust's policy on investment is that funds should be safely entrusted to banking institutions, whilst easily accessible with little/no notice period or surcharge.
d. Principal risks and uncertainties
Since the introduction of, "payment before supply", there is low risk deemed to exist, by the trustees. We collaborate regularly with our accountants, independent examiner, and main contacts. Illness and age, and travel involved for meeting at the Trust's depot of trustees, has also been considered. Malware/virus threats etc are also taken into account in relation to correspondence.
The Trust’s depot is well maintained and is insured appropriately. Regular maintenance is undertaken.
Perhaps the greatest risk, in the current age, would be the suppression of freedom of expression of the conviction of faith in Jesus.
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Kingston Bible Trust
Trustees' Report (continued) For the year ended 31 December 2022
e. Financial report
The charity’s position is robust financially, with sound investment of capital, and a currently healthy demand for items stocked at, and distributed from, the Trust’s registered address.
As previously, the investment of funds is closely monitored. All contracts (energy supply etc) are, likewise, monitored closely and reviewed regularly.
Sales are up year on year. Systems are more streamlined and “watertight”.
At the time of this report, unrestricted funds were in excess of £350,000, It should be borne in mind that printing costs often amount to thousands of pounds, and the building in which publications are stored will soon require re-roofing, besides the necessity of other ongoing maintenance costs.
Between £150,000 and £200,000 is reserved as contingency funding, though this may vary according to costs of publishing and distribution demands, but is carefully monitored from month to month.
The Trust continues to benefit from gifts, legacies, and personal contributions (such as when a purchaser pays above the asking price for items supplied - it is helpful for accurate accounting, that if this is intended, it is made clear upon payment). Reserve funds generate a small amount of income also.
The Charity had funds of £463,209 at 31 December 2022 (2021: £431,711), of which £76,672 (2021: £76,672) were endowment funds. Net income amounted to £31,498 (2021: net expenditure of £28,578). Of the Charity's total funds at the year end £220,000 (2021: £220,000) were held as fixed asset investments. The Charity had free reserves at the year end of £166,537 (2021: £135,039).
Public fundraising is not carried out by the trustees, nor it is their intention to do so in future, Ordering of items is simplified whenever items are placed directly by means of the website, which will generate a unique order number. The final cost of items, including postage, will be applied and can be paid by following the on-screen instructions.
Thanks to all who supported the Charity throughout 2022 - financially and/or prayerfully.
Structure, governance and management
a. Constitution
The Kingston Bible Trust was established by legal statute on 29th June 1972 replacing an earlier Trust Deed, dated 1st October 1932 in respect of the Stow Hill Bible and Tract Depot, but which continues to uphold the provisions of the earlier deed. The two deeds are very similar, the objectives of the Kingston Bible Trust being to provide for the increase and improvement of Christian knowledge, and the furtherance of the glad tidings, and in particular, for the purchase, printing, and publication, of bibles and other Christian literature, with a view to the distribution of the same, either gratuitously or at cost price or less, as is deemed fit by the Trustees. Some of the older publications are withdrawn (especially where stock is depleted and reprint costs unrealistic to demand) whilst the trustees continue to seek to meet the terms and objectives of the 1972 Trust Deed, and as updated on 21 November 1997 and 27 June 2007.
The Kingston Bible Trust was entered on the Register of Charities on 13th October 1986. This statement serves to confirm that the trustees have paid regard to the Commission's general guidance on public benefit whilst also taking into account requirements of the Charity Commissioners for England and Wales, such as governance and regulation for appointment of trustees. Trustees act on an unpaid basis claiming only expenses relevant to their work/travel in connection with the Trust.
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Kingston Bible Trust Trustees. Report (continued) For the year ended 31 December 2022 Structure, governance and management (continued) b. Methods of appointment or election of Trustees The Trust may only appoint trustees who are domicile in majority, in England and Wales. Selection of a replacement trustee is made according to unanimity of the remaining trustees. The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Throughout 2022 the Trustees of The Kingston Bible Trust were: Mr Oliver Watson (Chairman) Mr Gordon Mackenzie (Secretary) Mr Jeremy Fielder The trustees of Kingston Bible Trust are also trustees of assets which accrued from the sale of a meeting room in Tamworth many years ago. This asset has been incorporated in the financial statements herewith as a restricted fund, (the capital being a permanent endowment which cannot be expended). c. Related party relationships The three trustees of Kingston Bible Trust are also trustees of the Tamworth Meeting Room Charity. The income generated by this secondary trust is added to that of the Kingston Bible Trust, as required by its terms. The funds of the Tamworth Meeting Room Charity are, however, held by the Kingston Bible Trust in a separate designated account. The income and assets of this secondary trust fund have been incorporated in the financial statements herewith as a restricted fund. the capital of the Tamworth Meeting Room Charity consisting of a permanent endowment which cannot be expended. ed by order of the members of the board of Trustees and signed on their behalf by: J E Fielder (Trustee) Date: 10 Page 6
Kingston Bible Trust Statement of Trustees. responsibilities For the year ended 31 December 2022 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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 the provisions of the 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. The trustees have opted to reappoint Kreston Reeves LLP as the independent examiner's for the 2023 year end. Appro ed by order of the members of the board of Trustees and signed on its behalf by: J E Fielder Trustee Date: IY/, /Jea3 Page 7
Kingston Bible Trust
Independent Examiner's Report For the year ended 31 December 2022
Independent Examiner's Report to the Trustees of Kingston Bible Trust ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 30 October 2023 Lucy Hammond, FCA
Kreston Reeves LLP
9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ
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Kingston Bible Trust
Statement of financial activities For the year ended 31 December 2022
| Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 4 Total income and endowments Expenditure on: Charitable activities Total expenditure Net income/(expenditure) Transfers between funds 13 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 34,773 18,105 1,431 54,309 23,459 23,459 30,850 648 31,498 355,039 31,498 386,537 |
Endowment funds 2022 £ - - 648 648 - - 648 (648) - 76,672 - 76,672 |
Total funds 2022 £ 34,773 18,105 2,079 54,957 23,459 23,459 31,498 - 31,498 431,711 31,498 463,209 |
Total funds 2021 £ 2,133 13,475 617 |
|---|---|---|---|---|
| 16,225 44,803 |
||||
| 44,803 (28,578) - |
||||
| (28,578) 460,289 (28,578) |
||||
| 431,711 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 11 to 20 form part of these financial statements.
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Kingston Bible Trust Balance Sheet As at 31 December 2022 2022 2021 Note Fixed assets Tangible assets Investments 16,353 220,000 16,612 220,000 236,353 236,612 Current assets Stocks 10 11 49,835 5,834 174,013 49,195 2,719 229,430 Debtors Cash at bank and in hand 229,682 281,344 Creditors: amounts falling due within one year 12 (2,826) (86,245) Net current assets 226,856 195,099 Total net assets 463,209 431,711 Charity funds Endowment funds Unrestricted funds 13 76,672 386,537 76,672 355,039 13 Total funds 463,209 431,711 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: der Trustee The notes on pages 11 to 20 form part of these financial statements. Page 10
Kingston Bible Trust
Notes to the Financial Statements For the year ended 31 December 2022
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Kingston Bible Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in opertional existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
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Kingston Bible Trust
Notes to the Financial Statements For the year ended 31 December 2022
1. Accounting policies (continued)
1.6 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
- Furniture and equipment 20% reducing balance per annum - Computer equipment 25% on cost per annum
1.7 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
1.8 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.12 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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Kingston Bible Trust
Notes to the Financial Statements For the year ended 31 December 2022
1. Accounting policies (continued)
1.13 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Endowment funds comprise the capital of the Tamworth Meeting Room Charity. These cannot be expended.
Investment income, gains and losses are allocated as per Note 4.
2. Income from donations and legacies
| Donations Legacies Donations |
Unrestricted funds 2022 £ 17,606 17,167 34,773 Unrestricted funds 2021 £ 2,133 |
Total funds 2022 £ 17,606 17,167 |
|---|---|---|
| 34,773 | ||
| Total funds 2021 £ 2,133 |
3. Income from charitable activities
| Unrestricted funds 2022 £ Income from charitable activities - Book and other literature sales 18,105 Unrestricted funds 2021 £ Income from charitable activities - Book and other literature sales 13,475 |
Total funds 2022 £ 18,105 |
|---|---|
| Total funds 2021 £ 13,475 |
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Kingston Bible Trust
Notes to the Financial Statements For the year ended 31 December 2022
4. Investment income
| Unrestricted funds 2022 £ Investment income 1,431 Unrestricted funds 2021 £ Investment income 36 |
Endowment funds 2022 £ 648 Endowment funds 2021 £ 581 |
Total funds 2022 £ 2,079 |
|---|---|---|
| Total funds 2021 £ 617 |
5. Analysis of expenditure by activities
| Book and other literature sales Book and other literature sales |
Activities undertaken directly 2022 £ 23,459 Activities undertaken directly 2021 £ 44,803 |
Total funds 2022 £ 23,459 |
|---|---|---|
| Total funds 2021 £ 44,803 |
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Kingston Bible Trust
Notes to the Financial Statements For the year ended 31 December 2022
5. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Purchases Post freight packing Movement in stock Light and heat Rates, water & waste Repairs Telephone Stationary, printing & proof reading Computer expenses Insurance Bank charges Furniture & equipment depreciation Computer equipment depreciation Hotels, travel and subsistence Governance costs |
Book and other literature 2022 £ 663 4,694 (640) 3,061 911 336 500 925 500 5,341 267 225 33 4,343 2,300 23,459 |
Total funds 2022 £ 663 4,694 (640) 3,061 911 336 500 925 500 5,341 267 225 33 4,343 2,300 |
|---|---|---|
| 23,459 |
All expenditure in 2022 and 2021 was unrestricted.
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Kingston Bible Trust
Notes to the Financial Statements For the year ended 31 December 2022
5. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Purchases Post freight packing Movement in stock Light & heat Rates, water & waste Telephone Computer expenses Insurance Furniture & equipment depreciation Computer equipment depreciation Hotels, travel and subsistence Cleaning Governance costs |
Book and other literature 2021 £ 15,899 1,653 11,082 3,214 911 401 500 5,160 225 33 (23) 17 5,731 44,803 |
Total funds 2021 £ 15,899 1,653 11,082 3,214 911 401 500 5,160 225 33 (23) 17 5,731 |
|---|---|---|
| 44,803 |
6. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,410 ( 2021 - £1,100 ) , and other accountantcy services of £2,668 (2021 - £2,678).
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Kingston Bible Trust
Notes to the Financial Statements For the year ended 31 December 2022
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).
During the year ended 31 December 2022, expenses totalling £4,343 were reimbursed to 3 trustees (2021 - £2,882 were reimbursed to 3 trustees).
8. Tangible fixed assets
| Cost or valuation At 1 January 2022 At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 |
Freehold property £ 15,701 15,701 - - - 15,701 15,701 |
Fixtures and fittings £ 8,505 8,505 7,660 226 7,886 619 845 |
Computer equipment £ 938 938 872 33 905 33 66 |
Total £ 25,144 |
|---|---|---|---|---|
| 25,144 | ||||
| 8,532 259 |
||||
| 8,791 | ||||
| 16,353 16,612 |
9. Fixed asset investments
| Valuation At 1 January 2022 At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 |
Other fixed asset investments £ 220,000 |
|---|---|
| 220,000 220,000 |
|
| 220,000 |
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Kingston Bible Trust
Notes to the Financial Statements For the year ended 31 December 2022
10. Stocks
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Finished goods and goods for resale | 49,835 | 49,195 |
11. Debtors
| Trade debtors Other debtors Prepayments and accrued income |
2022 £ 3,034 1,853 947 5,834 |
2021 £ 1,557 235 927 |
|---|---|---|
| 2,719 |
12. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income |
2022 £ 1,416 - 1,410 2,826 |
2021 £ 2,258 81,487 2,500 |
|---|---|---|
| 86,245 |
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Kingston Bible Trust
Notes to the Financial Statements For the year ended 31 December 2022
13. Statement of funds
Statement of funds - current year
| Balance at | |||||
|---|---|---|---|---|---|
| Balance at 1 | 31 | ||||
| January | Transfers | December | |||
| 2022 | Income | Expenditure | in/out | 2022 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General funds | 355,039 | 54,309 | (23,459) | 648 | 386,537 |
| Endowment funds | |||||
| Endowment Funds | 76,672 | 648 | - | (648) | 76,672 |
| Total of funds | 431,711 | 54,957 | (23,459) | - | 463,209 |
| Statement of funds - prior year | |||||
| Balance at | |||||
| Balance at | 31 | ||||
| 1 January | Transfers | December | |||
| 2021 | Income | Expenditure | in/out | 2021 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General funds | 383,617 | 15,644 | (44,803) | 581 | 355,039 |
| Endowment funds | |||||
| Endowment Funds | 76,672 | 581 | - | (581) | 76,672 |
| Total of funds | 460,289 | 16,225 | (44,803) | - | 431,711 |
The capital of the former charity, Tamworth Meeting Room Charity, represents a permanent endowment and cannot be expended. It is held with the intention of augmenting the income of Kingston Bible Trust. The income is therefore recognised as unrestricted income.
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Kingston Bible Trust
Notes to the Financial Statements For the year ended 31 December 2022
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 16,353 220,000 153,010 (2,826) 386,537 |
Endowment funds 2022 £ - - 76,672 - 76,672 |
Total funds 2022 £ 16,353 220,000 229,682 (2,826) |
|---|---|---|---|
| 463,209 |
Analysis of net assets between funds - prior year
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 16,612 220,000 204,672 (86,245) 355,039 |
Endowment funds 2021 £ - - 76,672 - 76,672 |
Total funds 2021 £ 16,612 220,000 281,344 (86,245) |
|---|---|---|---|
| 431,711 |
15. Related party transactions
The Trustees of the Charity are entitled to a 50% discount on direct purchases from the Charity. The total value of books purchased from the Charity was £Nil (2021 - £46). At the balance sheet date, the amount owed to the Charity was £Nil (2021 - £Nil).
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