Charity Registration No. 296261 THE WAKEMAN TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Contents: Page I Trustees. Report Page 2 Independent Examiner's Report Page 3 Statement of Financial ActNities Page 4 Balance Sheet Page 5-6 Notes to the Accounts (i) THE WAKEMAN TRUST Report of the Trustees lor the Year Ended 30 September 2024 The Trustees have pleasure in submitting their report and the financlal statements of the Trust for the year ended 30 September 2024. Reference and Admlnlstratlve Details The Wakeman Trust is a registered charity, no. 296261. Its address is= 38 Walcot Square, London, SEII 4TZ. The Trustees during the year were as follows.. Mr A Polling Ichairmanl Mr C Cooper Dr P Masters Mrs H Compston Mrs H Wyncoll MrSJ Pearce Structure, GDvemance & Management The charity is a Trust, governed by its Trust Deed. New Trustees are appointed from time to lime as required, by the vote of the existing trustees. Oblectlves and Artivities The Charity's aims are to serve the public and to further the circulation of Christian literature by publishing books and other items for sale to churches. Christian bookshops and individuals. Athievements & Performance During the year under review. the Trust continued to distributp. a range of good Christian literature to organisation5 and individuals, both in the UK and overseas. Some titles were als0 printed and published in other languages. Public Benefit In carrying out its activities in the year under review, the trustees have had regard to the public benefit guidance issued by the Charity Commi55i0n, and are satisfied that the activities mentioned above have all been for the public benefit. Financial Review As shown in the Statement of Financial Activities on page 3, the Trust achieved a surplus for the year. The trustees consider the state of affairs of the Trust to be satisfactory. The Trustees regularly review the reserves of the charity to ensure that sufficient liquid funds are available for the Trust to meet its ongoing obligations. The policy is to hold suffscient reserves to enable the charity to meet its ongoing commitments and obligations, and to enable it to be in a position to publish new titles as opportunities arise. ON BEH E TRUSTEES Trustee 12 June 2025 121 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE WAKEMAN TRUST ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 I report on the account5 of the Trust for the year ended 30 September 2024. which are set out on the pages 3 to 6. Respertlve responsibilities ol trustees and independent examlner The charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year (under section 44121 of the Charities Act 2011 (the 2011 Actll and that an independent examinatioll is needed. It is my fesponsibllity to: Examine the accounts under sertion 145 of the 2011 Act; To follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145151 Ibl of the 2011 Act; and To state whether particular matter5 have come to rny attention. Basis of independent examlner's report My examination was carried out in accordance with the Gefieral Dlrertlons glven by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and 3 compari50n of the accounts presented with those records. It also includes consideration of any unusual items oi disclosures in the accounts, and seeking explanations from you as trustees concerning any such fftatter5. The Pfocedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Independent examlnei'5 Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which give me cause to believe that, in any material wespect= the accounting records were not kept in accordance with section 130 of the Charities Act: or the accounts did not accord with the accounting record5: or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) Regulation5 2008 other than anv requlrement that the accounts give a 'true and fairf view which is not a mattel considered as part of an independent examifiatron. I have no concerns and have come across no other matters In connection wlth the examination to which attention should be drawn in this report in order to en3ble a proper understanding of the accounts to be reached. David Cooke MA (Oxonl FCA FCIE David Cooke and Co., Chartered Accountants 5 Briar Close. Banbury Oxon OX16 90S 12June 2025 THE WAKEMAN TRUST {31 Statement of Flnanclal Actlvities for the Year ended 30 September 2024 Unrestricted Restricted Fund Fund Total Total 2024 2024 2024 2023 Note In¢omin8 Resourees Voluntary income - donation5 Charitable Activities Investment Income 45.197 1,125 45,197 1.125 35,010 594 Total Incoming Resources 46.322 46,322 35,604 Resources Expended Costs of generating Funds Charitable Activities 9.505 32,394 9.505 32,394 13,537 26,633 Total Resources Expended 41,899 41,899 40.170 Net Incoming Resources for the Year 4.423 4,423 14,5661 Fund Balances brought forward 207,728 2,683 210,411 214,977 Fund Balances carried forward 212,151 1683 214,834 210,411 14 THE WAKEMAN TRUST Balance Sheet as at 30 September 2024 Unrestricted Re5tiicted Fund Fund Total Total 2024 2024 2024 2023 Note Current Assets Stock Debtor5: Tabernacle Bookshop Metropolitan Tabernacle General Fund Other Debtors & prepayments Cash at bank & in hand 104,288 104,288 93,337 2.984 31 2,265 104,284 2,984 31 4,740 104,492 3,236 863 4,521 110,619 2,475 208 213,852 2,683 216,535 212,576 Le55: Li?bilitles due within one year Creditors & accruals 1,701 1,701 2,165 1,701 1,701 2,165 Net Assets 212,151 3 214￿¢ 210,411 Financed b Fund Balances 212,151 1683 214A34 210,411 Signed: Trustee Date: 12 June 2025 THE WAKEMAN TRUST 15} Notes to the Accounts for the year ended 30 September 2024 l. Accounting Policies The following atcounting policies have been used consistently in dealing with items which are considered material in relation to the charitvs financial statements. Basis of accountin The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice- Accounting and Reporting by Charities i55ued in 2015 as it applies from l January 2015. and applicable UK Accounting Standards and the Charities Act 2011. Goin concern At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts. Incomin Resources All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantif led with reasonable a¢¢uracy. In particular-. Sales of books are recognised when the invoice is raised for the sale; Donations are recognised when they are received: Investment income is included when receivable. Resources Ex ended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure excludes VAT which is recoverable, as the charity is registered for VAT. The following specific policies are applied to particular categories of expenditure.. Costs of 8enerating funds comprise the costs associated with attracting income,. Charitable expenditure comprise5 those costs incurred by the charity in the production and distribution of Christian literature. It includes both co5t5 that can be allocated directly to such activitie5 and those costs of an indirect nature necessary to support them. including support and governance costs. Tan ible Fixed Assets and De reciation When owned, fixed assets are stated at C05t less accumulated depreciation. All fixed assets are written off on a straight line balance basis over their expected useful lives, at the following annual rates: Office equipment Fixtures & fittings 25% 25% THE WAKEMAN TRUST 16} Notes to the Accounts for the year ended 30 September 2024 (contlnued Unrestricted Restricted Fund Fund Total Total 2. Incoming Resources - Charitable Activities 2024 2024 2024 2023 Sales of Christian books Sales of E-books and similar items Royalties waived by authors 40,235 2,239 2.723 40,235 2,239 2.723 31,122 2,314 1,574 45,197 45,197 35,010 3. Resources Expended - Charitable Actlvltles C05t of sales Miscellaneous production costs Carriage costs Royalties 8ank charges Miscellaneous expense5 Independent Examination fee 24,978 721 2,115 3,534 510 116 420 24,978 721 2,115 3,534 510 116 420 20,501 795 1.723 1,846 619 729 420 32,394 32,394 26,633 4. Staff Costs & Trustee5' expenses There were no staff costs or trustees, expenses in the year. 5. Funds The unrestricted funds are for the general purposes of the charity. The restricted funds are as follows: Blf Income Expenditure C/f Cliinese Language Publication5 Fund French Language Publications Fund 2,475 208 2.475 208 2,683 2,683 6. Related party transaction5 During the year under review the charity sold literature to the Metropolitan Tabernacle. a church of which all the charity's trustees are members. The amounts owed by the church and its bookshop at the year-end are shown on the balance sheet.