**REGISTERED COMPANY NUMBER: 02218996 (England and Wales) REGISTERED CHARITY NUMBER: 298807**
**Alive Publishing Limited (A Company Limited by Guarantee)**
## **Report of the Trustees and**
**Financial Statements for the Year Ended 31 March 2021**
Marshall & Co Chartered Accountants St Mary's House Crewe Road Alsager Stoke on Trent ST7 2EW
**Alive Publishing Limited**
## **Contents of the Financial Statements for the Year Ended 31 March 2021**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|7|
|**Report of the Independent Auditor**|8|to|10|
|**Statement of Financial Activities**||11||
|**Balance Sheet**|12|to|13|
|**Cash Flow Statement**||14||
|**Notes to the Cash Flow Statement**||15||
|**Notes to the Financial Statements**|16|to|25|
|**Detailed Statement of Financial Activities**|26|to|27|
**Alive Publishing Limited**
## **Reference and Administrative Details for the Year Ended 31 March 2021**
## **TRUSTEES**
Mrs S L Conway M M Conway L M Conway Rev S Heaney Miss J M Moorhead Mrs C Kormoczy Teacher (appointed 6/12/2020)
## **REGISTERED OFFICE**
St Mary's House Crewe Road Alsager Stoke on Trent ST7 2EW
**REGISTERED COMPANY NUMBER** 02218996 (England and Wales)
## **REGISTERED CHARITY NUMBER** 298807
## **AUDITOR**
Marshall & Co Chartered Accountants St Mary's House Crewe Road Alsager Stoke on Trent ST7 2EW
## **SOLICITORS**
Knights 1759 The Brampton 10 St John Street Newcastle under Lyme Staffordshire ST5 0QW
Page 1
## **Alive Publishing Limited**
## **Report of the Trustees for the Year Ended 31 March 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity are the advancement anywhere in the world of the Christian religion and other such purposes (being charitable purposes according to the laws of England) as the trustees shall in their discretion think fit.
The strategies employed to achieve the charity's objectives are to:
Publish magazines, books, newspapers and other resources (DVDs) which teach, educate, inform and celebrate Christian faith.
The major areas of activity are:
Bible Alive: A Catholic scripture magazine with a monthly circulation of around 27,500. Bible Alive will celebrate 25 years since it was launched in June 1996. The essence of the magazine is the daily reflection on one of the daily Mass readings. The Trustees and management are exploring ways of both marking and celebrating this 25 years milestone, given that Bible Alive remains its flagship publication.
Walk With Me: Walk With Me is a seasonal prayer and scripture programme in association and collaboration with Archbishop Vincent Nichols and the Archdiocese of Birmingham. The Walk with Me programme covers the seasons of Advent, Lent and Easter. The booklet is available at national, diocesan level and international level. The print runs for Advent, Lent and Easter are 150,000, 150,000, and 50,000 respectively. The following Catholic dioceses took Walk with Me as their seasonal prayer and scripture programme: Archdiocese of Birmingham, Archdiocese of Cardiff, Diocese of Menevia, Diocese of Wrexham. We intend to make Walk with Me available as a subscription starting with the Advent 2020 edition (£7.99 per anum).
Kindle: Bible Alive is currently available on Kindle and we intend to make Walk with Me available also as a Kindle subscription from Advent 2020. We are also putting up onto Kindle the books which we have published.
Word Alive: Word Alive is a resource containing the daily Mass readings scriptures in full and is available online.
Mail order business: The closure of churches even for private prayer during the pandemic resulted in an increase of traffic both to our website and calls into the office. We published an A4 free document called 'Inspiration in Isolation' which was well received by our readers and customers. Our pandemic message of 'bringing faith/joy directly to your door' wasn't missed on our readers or customers who clearly appreciated and responded positively to our wide range of products both in our book and gift catalogue, our on-line offerings and our ability to turn around their orders in a timely and efficient fashion.
International Prison Outreach: Alive Publishing invites its' readers to donate to its' work with prisoners and prison chaplains all over the world. Bible Alive readers send in donations so that we can send subscriptions to the Bible Alive magazine to prisoners, as well as providing Bibles and other Christian literature to encourage and support prisoners in their faith. The launching of the Loose Change Jar and Bucket Campaign is being well received. The Trustees are in discussion with prison professionals and pastoral care staff regarding the possibility of publishing a Bible exclusively for prisoners.
International Faith Outreach: This is an initiative to encourage readers of Bible Alive to donate funding so we in turn can send subscriptions, Bible and other resources to missionaries, Priests, religious catechists and other parish workers in the Third World.
Alive Publishing no longer publishes Catholic Today - the diocesan newspaper for the Birmingham Diocesan Trust - nor does it manage their website.
Page 2
## **Alive Publishing Limited**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **OBJECTIVES AND ACTIVITIES**
## **Public benefit**
In setting plans and priorities for areas of work, the trustees have followed the latest guidance from the Charity Commission on the provision of public benefit, in accordance with section 17 of the Charities Act 2011.
Much consultation has been had between the Charity Commission and religious charities in relation to the question of public benefit and the trustees are encouraged that the Commission acknowledges the intangible spiritual benefits that the charity works to provide. In particular, the trustees consider how activities will contribute to meeting the objectives they have set and focus on the activities that will promote, teach, educate and inform people about the Christian Faith.
Directors of a charity have a duty to report in their annual report on their charity's public benefit. In setting plans and priorities to achieve its vision, the Charity's trustees have followed guidance from the Charity Commission on the provision of public benefit.
The trustees of Alive Publishing Limited confirm they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. Alive Publishing Limited is established for the public benefit of those who want to educate themselves on the benefits of the Christian Faith, including those prisoners that are benefiting from the International Prison Outreach programme and those in the third world that are benefiting from the International Faith Outreach programme.
The Trustees have considered this mater and concluded:
- 1) That the aims of the organisation continue to be charitable;
2) That the aims and the work done give identifiable benefits to the charitable sector and both indirectly and directly to individuals in need;
3) That the benefits are for the public, are not unreasonably restricted in any way and certainly not by ability to pay; and
4) That there is no detriment or harm arising from the aims or activities
## **STRATEGIC REPORT**
## **Achievement and performance Internal and external factors**
Covid 19 and its operational impact on aspects of our business cycle.
The closure of the churches had a direct impact on our parish customers with many deciding to suspend their order during the period of church closure. Parish Plan is a mainstay of our sales of Bible Alive and despite many parishes retaining their order and applying that old dictum, 'Necessity is the mother of invention' (some parishes mailed their parish orders to their parishioners) the loss of these orders was keenly felt. Now that churches are open again (albeit with a reduction in Sunday Mass attendance), many parishes who suspended have reactivated their order. We have begun a campaign to re-establish these orders and also to reach out to non-ordering parishes by offering a free start up trial, 90 days credit and sale or return. This is an on-going and long term strategy and oven ime we are hopeful of returning to our pre-pandemic parish sales.
One significant impact of the churches' closing was a favourable response to the 'Inspiration in Isolation' leaflet and a corresponding noticeable increase in subscriptions and mail order business.
The churches might have closed but we remained open for business and our ability to deliver directly to our donors' and customers' doors was very much appreciated during this difficult and challenging time.
## **Financial review**
## **Financial position**
The Statement of Financial Activities for the year ended 31 March 2021 shows income of £860,759 (2020: £1,040,209). Expenditure amounted to £851,489 (2020: £1,001,674) The net effect of the above is that, over the year, the funds of the charity increased by £9,270.
Page 3
## **Alive Publishing Limited**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **STRATEGIC REPORT**
## **Financial review**
## **Investment policy and objectives**
Under the Memorandum and Articles of Association, the charity has the power to invest in any way the trustees wish. The trustees, having regard to the liquidity requirements of the charity and to the reserves policy, have operated a policy of keeping available funds in an interest bearing deposit account seeking to achieve a rate of deposit interest which matches or exceeds inflation as measured by the retail prices index.
## **Reserves policy**
The trustees have established the level of unencumbered reserves (that is, those funds that are freely available, not invested in fixed assets, designated for specific purposes or otherwise committed) that the charity ought to have.
Historically, in the early years of the charity, reserves were needed to bridge any gaps between spending on magazine production and receiving resources through subscription charges, as well as to allow for any other possible unforeseen expenditure. Given that the charity has now been in operation for over twenty five years, then the ongoing nature of the subscription receipts makes the existence of gaps between spending and receiving monies more or less non-existent. However, the trustees prefer to err on the side of caution and therefore consider that the required level of free reserves as at 31 March 2021 should continue to be £50,000.
## Fixed Assets
In order to fulfil its charitable objectives, the charity needs to retain certain levels and categories of fixed assets and the fixtures and fittings and other contents of the charity's premises are all used in the work of the charity.
As disclosed in the balance sheet, the unrestricted funds amounted to £99,966 of which £1,607 was invested in fixed assets. Setting these terms aside, the balance of £98,359 is considered to be free reserves.
## **Going concern**
The financial position of the charity in terms of the year's results and its assets and liabilities is set out in the principal financial statements on pages 11-13.
## **Principal risks and uncertainties**
The trustees have a formal risk management process to assess risks and implement risk management strategies. This involves the identification of the types of risk faced by a charity, assessing the likelihood and potential impact of occurrence and identifying means of mitigation. Risks have been categorised under five broad headings: Governance, Operational, Financial, External and Compliance. These were then assessed as to the likelihood of their occurring and the severity of the effects of the risk leading to a potential overall impact calculation to give a scale of relative importance or urgency to each one.
The current highest overall adverse impact risks identified relate to the potential effect on income of lapsation of the faithful and resultant reducing Mass attendances; of an increasingly ageing and therefore reducing number of clergy who are expected to undertake ever more administrative responsibilities, and adverse publicity in an increasingly secular society. The trustees have taken steps to mitigate these risks by working to develop new and emerging income streams to ensure that reserves are maintained. The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. The trustees believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide enough resources in the event of adverse conditions.
The trustees are responsible for providing reasonable assurance that:
- The charity is operating efficiently and effectively;
- Its assets are safeguarded against unauthorized use or disposition;
- Proper records are maintained and financial information used within the charity or for publication is reliable; and
- The charity complies with relevant laws and regulations.
Page 4
## **Alive Publishing Limited**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **STRATEGIC REPORT**
## **Achievements, Performance Review and Plans for Future Periods**
Focus on growing circulation of subscription-based publications: Bible Alive/Faith Today.
Drive and develop the book/gift/mail order business
Maximize on the marketing resource we have in our Oak system.
Focus on utilising the newly redesigned company website which has given us the platform form to promote and market our product range using new technology/social media but has also give our customers the opportunity to renew on line, set up a direct debit or fill in a Gift Aid form with ease.
The intention for the future is to continue to meet the objectives of the charity as outlined above.
As part of the strategy to increase funding streams, further work is planned to increase the use of online giving through internet use and development of the charity's online presence.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Organisational structure**
Alive Publishing Limited is a company limited by guarantee and does not have any share capital. It is governed by its' Memorandum and Articles of Association dated 9th February 1988 and amended by Special Resolutions dated 20th October 1992; 3rd May 1996; 7th May 1998 and 10th August 2001. It is a charity registered with the Charity Commission and there are currently 6 members (6 in 2020), each of whom agree to contribute £1 in the event of the charity winding up. Trustees and directors are appointed by ordinary resolution.
## **Trustees**
The trustees who served during the year are listed on page one. The affairs of the charity are governed by the trustees and the Board has the power to appoint additional trustees as it considers fit to do so. When considering new trustees, the Board has regard to those with suitable qualifications and experience as well as the requirement for any specialist skills needed.
New trustees are introduced to their role and responsibilities by existing board members and undergo an orientation day at which time relevant Charity Commission literature is issued together with copies of the trust deed and latest financial information available.
New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. During the induction day, they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of the role, in regarding strategy and good governance.
The board of trustees is not limited by the maximum number of members. The board of trustees administer the charity. The board of trustees meets a minimum of twice a year and an experienced and suitably qualified management team is in place to manage the day to day business of the charity including all operational matters such as finance, employment and business development related activity.
Page 5
## **Alive Publishing Limited**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Key management personnel and remuneration**
The Board of Trustees is ultimately in charge of directing and controlling the charity and ensuring that it is run and operated in a responsible and appropriate manner. The day-to-day management of the charity, however, is delegated to the Editor in Chief, Mr Michael Conway. All trustees give their time freely, and no trustee receives any remuneration in respect of the work undertaken in the role of trustee.
Details of any related party transactions are disclosed in note 18 to the accounts.
Trustees are required to disclose all relevant interests and register them with the charity and in accordance with the charity's policy, withdraw from decisions where a conflict of interest arises.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
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 of the charity and of the incoming resources and application of resources for that period. In preparing the financial statements, the trustees are required to:
- Select suitable accounting policies and apply them consistently;
- Observe the methods and principles of the Charities SORP;
- Makes judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which 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 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 are responsible for the maintenance and integrity of the financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS**
So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable company's auditor is unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charitable company's auditor is aware of that information.
The trustees who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the trustees have confirmed that they have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditors.
## **AUDITOR**
The auditors, Marshall & Co Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Page 6
## **Alive Publishing Limited**
## **Report of the Trustees for the Year Ended 31 March 2021**
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 1 December 2021 and signed on the board's behalf by:
Mrs S L Conway - Trustee
Page 7
## **Report of the Independent Auditor to the Trustees of Alive Publishing Limited**
## **Opinion**
We have audited the financial statements of Alive Publishing Limited (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow 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 (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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 responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditor 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 this gives rise to a material misstatement in the financial statements themselves. 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 where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- the charitable company has not kept adequate accounting records; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
Page 8
## **Report of the Independent Auditor to the Trustees of Alive Publishing Limited**
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our 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 the Act and relevant regulations made or having effect thereunder.
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 a Report of the Independent Auditor 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.
## **The extent to which the audit was considered capable of detecting irregularities, including fraud**
Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to regulatory requirements of the Charity Commission, FRS102, Charities SORP, Charities Act 2011, the Charity's governing document, tax legislation and GDPR legislation. We also considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011 and taxation.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to the posting of inappropriate journal entries and management bias in key accounting judgements and estimates. Audit procedures performed by the engagement team include:
- Enquiry of management and trustees with regard to actual and potential fraud and non-compliance with laws and regulations - Inspecting trustees' meeting minutes
- Inspecting correspondence with tax authorities
- Challenging assumptions and judgements made by management in their accounting estimates
- Testing of journal entries where we identified particular risks
- Assessing financial statement disclosures and testing to supporting documentation, for compliance with applicable laws and
- regulations
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditor.
Page 9
## **Report of the Independent Auditor to the Trustees of Alive Publishing Limited**
## **Use of our report**
This report is made solely to the charitable company's trustees, 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 charitable company's trustees 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 charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Marshall & Co Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 St Mary's House Crewe Road Alsager Stoke on Trent ST7 2EW
1 December 2021
Page 10
## **Alive Publishing Limited**
## **Statement of Financial Activities for the Year Ended 31 March 2021**
|**Notes**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
4
Bible Alive subscriptions
Books and other sales
WWM sales
L'osservatore Romano
Design service
Investment income
3
**Total**
**EXPENDITURE ON**
**Charitable activities**
5
Bible Alive subscriptions
Books and other sales
WWM sales
L'osservatore Romano
Design service
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**fund**
**£**
28,381
349,860
146,861
111,973
825
6,422
25,942
670,264
416,557
162,276
136,626
966
7,069
723,494
(53,230)
153,196
99,966|**Restricted**
**funds**
**£**
190,495
-
-
-
-
-
-
190,495
72,714
30,514
23,270
166
1,331
127,995
62,500
122,079
184,579|**2021**
**Total**
**funds**
**£**
218,876
349,860
146,861
111,973
825
6,422
25,942
860,759
489,271
192,790
159,896
1,132
8,400
851,489
9,270
275,275
284,545|**2020**
**Total**
**funds**
**£**
250,855
446,889
118,914
161,223
1,110
5,121
56,097
1,040,209
610,522
162,371
220,268
1,502
7,011
1,001,674
38,535
236,740
275,275|
|---|---|---|---|---|
The notes form part of these financial statements
Page 11
## **Alive Publishing Limited**
## **Balance Sheet 31 March 2021**
|**Unrestricted**
**Restricted**
**fund**
**funds**
**Notes**
**£**
**£**
**FIXED ASSETS**
Intangible assets
10
1,604
-
Tangible assets
11
3
-
Investments
12
250,000
-
251,607
-
**CURRENT ASSETS**
Debtors
13
46,685
137,190
Cash at bank and in hand
56,335
47,389
103,020
184,579
**CREDITORS**
Amounts falling due within one year
14
(254,661)
-
**NET CURRENT ASSETS**
(151,641)
184,579
**TOTAL ASSETS LESS CURRENT LIABILITIES**
99,966
184,579
**NET ASSETS/(LIABILITIES)**
99,966
184,579
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**2021**
**Total**
**funds**
**£**
1,604
3
250,000
251,607
183,875
103,724
287,599
(254,661)
32,938
284,545
284,545
99,966
184,579
284,545|**2020**
**Total**
**funds**
**£**
1,791
824
250,000
252,615
337,257
73,061
410,318
(387,658)
22,660
275,275
275,275
153,196
122,079
275,275|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
The notes form part of these financial statements
continued...
Page 12
## **Alive Publishing Limited**
## **Balance Sheet - continued 31 March 2021**
The financial statements were approved by the Board of Trustees and authorised for issue on 1 December 2021 and were signed on its behalf by:
L M Conway - Trustee
S L Conway - Trustee
The notes form part of these financial statements
Page 13
## **Alive Publishing Limited**
## **Cash Flow Statement for the Year Ended 31 March 2021**
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of intangible fixed assets
Interest received
Dividends received
Net cash provided by investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of**
**the reporting period**
2
**Cash and cash equivalents at the end of the**
**reporting period**
2|**2021**
**£**
1,642
1,642
-
12
25,930
25,942
27,584
73,061
100,645|**2020**
**£**
(58,397)
(58,397)
(1,869)
31
56,066
54,228
(4,169)
77,230
73,061|
|---|---|---|
The notes form part of these financial statements
Page 14
## **Alive Publishing Limited**
## **Notes to the Cash Flow Statement for the Year Ended 31 March 2021**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
## **2.**
|**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Dividends received
Decrease/(increase) in debtors
(Decrease)/increase in creditors
**Net cash provided by/(used in) operations**
**ANALYSIS OF CASH AND CASH EQUIVALENTS**
Cash in hand
Notice deposits (less than 3 months)
Overdrafts included in bank loans and overdrafts falling due within one year
Total cash and cash equivalents|**2021**
**£**
9,270
1,008
(12)
(25,930)
153,382
(136,076)
1,642
**2021**
**£**
56
103,668
(3,079)
100,645|**2020**
**£**
38,535
1,084
(31)
(56,066)
(79,498)
37,579
(58,397)
**2020**
**£**
56
73,005
-
73,061|
|---|---|---|
## 3. **ANALYSIS OF CHANGES IN NET FUNDS**
|**Net cash**|**At 1/4/20**
**Cash flow**
**At 31/3/21**
**£**
**£**
**£**|
|---|---|
|Cash at bank and in hand|73,061
30,663
103,724|
|Bank overdraft|-
(3,079)
(3,079)|
||73,061
27,584
100,645|
|**Total**|73,061
27,584
100,645|
The notes form part of these financial statements
Page 15
## **Alive Publishing Limited**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of as asset other that cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
## Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donot specifies that the grant or donation must only be used in future accounting periods; or
- The donor has imposed conditions which must be met before the charity has unconditional entitlement.
## Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Patents and licences**
Patents are depreciated over 10 years.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - depreciated over remaining term of lease
continued...
Page 16
## **Alive Publishing Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2.**
## **3.**
## **4.**
## **DONATIONS AND LEGACIES**
|Donations
Gift aid
**INVESTMENT INCOME**
Shares in group undertakings
Other fixed asset invest - FII
Deposit account interest
**INCOME FROM CHARITABLE ACTIVITIES**
**Activity**
Subscriptions
Bible Alive subscriptions
Books and other sales
Books and other sales
Pamphlet sales
WWM sales
L'osservatore Romano
L'osservatore Romano
Design service
Design service|**2021**
**£**
166,410
52,466
218,876
**2021**
**£**
8,500
17,430
12
25,942
**2021**
**£**
349,860
146,861
111,973
825
6,422
615,941|**2020**
**£**
132,385
118,470
250,855
**2020**
**£**
38,636
17,430
31
56,097
**2020**
**£**
446,889
118,914
161,223
1,110
5,121
733,257|
|---|---|---|
continued...
Page 17
## **Alive Publishing Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **5. CHARITABLE ACTIVITIES COSTS**
|Bible Alive subscriptions
Books and other sales
WWM sales
L'osservatore Romano
Design service
**SUPPORT COSTS**
**Management**
**£**
Bible Alive subscriptions
58,839
Books and other sales
15,648
WWM sales
21,228
L'osservatore Romano
144
Design service
675
96,534
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Depreciation - owned assets
Patents and licences amortisation|**Support**
**Direct**
**costs (see**
**Costs**
**note 6)**
**£**
**£**
407,751
81,520
171,110
21,680
130,487
29,409
933
199
7,464
936
717,745
133,744
**Governance**
**Finance**
**costs**
**£**
**£**
7,371
15,310
1,960
4,072
2,658
5,523
18
37
84
177
12,091
25,119
**2021**
**£**
17,500
821
187|**Totals**
**£**
489,271
192,790
159,896
1,132
8,400
851,489
**Totals**
**£**
81,520
21,680
29,409
199
936
133,744
**2020**
**£**
17,500
1,006
78|
|---|---|---|
## **6.**
## **7. NET INCOME/(EXPENDITURE)**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
continued...
Page 18
## **Alive Publishing Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Bible Alive subscriptions
Books and other sales
WWM sales
L'osservatore Romano
Design service
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Bible Alive subscriptions
Books and other sales
WWM sales
L'osservatore Romano
Design service
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**fund**
**£**
106,858
446,889
118,914
161,223
1,110
5,121
56,097
896,212
515,529
137,107
185,995
1,268
5,920
845,819
50,393
(11,165)
39,228
113,968
153,196|**Restricted**
**funds**
**£**
143,997
-
-
-
-
-
-
143,997
94,993
25,264
34,273
234
1,091
155,855
(11,858)
11,165
(693)
122,772
122,079|**Total**
**funds**
**£**
250,855
446,889
118,914
161,223
1,110
5,121
56,097
1,040,209
610,522
162,371
220,268
1,502
7,011
1,001,674
38,535
-
38,535
236,740
275,275|
|---|---|---|---|
continued...
Page 19
## **Alive Publishing Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **10. INTANGIBLE FIXED ASSETS**
|**10.**|**INTANGIBLE FIXED ASSETS**||
|---|---|---|
|||**Patents**|
|||**and**|
|||**licences**|
|||**£**|
||**COST**||
||At 1 April 2020|3,304|
||Disposals|(1,435)|
||At 31 March 2021|1,869|
||**AMORTISATION**||
||At 1 April 2020|1,513|
||Charge for year|187|
||Eliminated on disposal|(1,435)|
||At 31 March 2021|265|
||**NET BOOK VALUE**||
||At 31 March 2021|1,604|
||At 31 March 2020|1,791|
|**11.**|**TANGIBLE FIXED ASSETS**||
||**COST**|**Improvements**
**to**
**property**
**£**|
||At 1 April 2020 and 31 March 2021|113,995|
||**DEPRECIATION**||
||At 1 April 2020|113,171|
||Charge for year|821|
||At 31 March 2021|113,992|
||**NET BOOK VALUE**||
||At 31 March 2021|3|
||At 31 March 2020|824|
||||
continued...
Page 20
## **Alive Publishing Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **12. FIXED ASSET INVESTMENTS**
|**Shares in**
**group**
**Unlisted**
**undertakings**
**investments**
**£**
**£**
**MARKET VALUE**
At 1 April 2020 and 31 March 2021
1,000
249,000
**NET BOOK VALUE**
At 31 March 2021
1,000
249,000
At 31 March 2020
1,000
249,000|**Totals**
**£**
250,000
250,000
250,000|
|---|---|
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
## **Alive Publishing Trading UK Limited**
Registered office: England and Wales
Nature of business: Religious publications production & distribution
## **13.**
|**%**
**Class of share:**
**holding**
Ordinary shares
33
Aggregate capital and reserves
Profit for the year
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**2021**
**£**
300,612
1,637
**2021**
**£**
32,228
10,731
35,954
104,962
183,875|**2020**
**£**
324,127
243
**2020**
**£**
32,836
40,792
91,625
172,004
337,257|
|---|---|---|
continued...
Page 21
## **Alive Publishing Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Bank loans and overdrafts (see note 15)
Accruals and deferred income
**15.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
**16.**
**LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due a
Between one and five years
**17.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
International Prison Outreach
International Faith Outreach
Cheerful Giver
**TOTAL FUNDS**|**2021**
**£**
3,079
251,582
254,661
**2021**
**£**
3,079
s follows:
**2021**
**£**
37,620
**Net**
**movement**
**At 1/4/20**
**in funds**
**£**
**£**
153,196
(53,230)
93,210
31,720
-
16,317
28,869
14,463
122,079
62,500
275,275
9,270|**2020**
**£**
-
387,658
387,658
**2020**
**£**
-
**2020**
**£**
37,620
**At**
**31/3/21**
**£**
99,966
124,930
16,317
43,332
184,579
284,545|
|---|---|---|
continued...
Page 22
## **Alive Publishing Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **17. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
International Prison Outreach
International Faith Outreach
Cheerful Giver
**TOTAL FUNDS**|**Incoming**
**Resources**
**Movement**
**resources**
**expended**
**in funds**
**£**
**£**
**£**
670,264
(723,494)
(53,230)
149,083
(117,363)
31,720
25,771
(9,454)
16,317
15,641
(1,178)
14,463
190,495
(127,995)
62,500
860,759
(851,489)
9,270|
|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
International Prison Outreach
International Faith Outreach
Cheerful Giver
**TOTAL FUNDS**|**Net**
**Transfers**
**movement**
**between**
**At 1/4/19**
**in funds**
**funds**
**£**
**£**
**£**
113,968
50,393
(11,165)
97,388
(4,178)
-
-
(11,165)
11,165
25,384
3,485
-
122,772
(11,858)
11,165
236,740
38,535
-|**At**
**31/3/20**
**£**
153,196
93,210
-
28,869
122,079
275,275|
|---|---|---|
continued...
Page 23
## **Alive Publishing Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **17. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
International Prison Outreach
International Faith Outreach
Cheerful Giver
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
896,212
118,621
20,892
4,484
143,997
1,040,209|**Resources**
**expended**
**£**
(845,819)
(122,799)
(32,057)
(999)
(155,855)
(1,001,674)|**Movement**
**in funds**
**£**
50,393
(4,178)
(11,165)
3,485
(11,858)
38,535|
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
International Prison Outreach
International Faith Outreach
Cheerful Giver
**TOTAL FUNDS**|**Net**
**Transfers**
**movement**
**between**
**At 1/4/19**
**in funds**
**funds**
**£**
**£**
**£**
113,968
(2,837)
(11,165)
97,388
27,542
-
-
5,152
11,165
25,384
17,948
-
122,772
50,642
11,165
236,740
47,805
-|**At**
**31/3/21**
**£**
99,966
124,930
16,317
43,332
184,579
284,545|
|---|---|---|
continued...
Page 24
## **Alive Publishing Limited**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **17. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||**Incoming**|**Resources**|**Movement**|
|---|---|---|---|
||**resources**|**expended**|**in funds**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|General fund|1,566,476|(1,569,313)|(2,837)|
|**Restricted funds**||||
|International Prison Outreach|267,704|(240,162)|27,542|
|International Faith Outreach|46,663|(41,511)|5,152|
|Cheerful Giver|20,125|(2,177)|17,948|
||334,492|(283,850)|50,642|
|**TOTAL FUNDS**|1,900,968|(1,853,163)|47,805|
|||||
## **18. RELATED PARTY DISCLOSURES**
During the year the charity made the following related party transactions:
## Alive Publishing Trading UK Limited
(Alive Publishing Limited is the registered owner of 249,000 preference shares of £1 each in Alive Publishing Trading UK Limited and also owns 34 ordinary shares of £1 each in the same company. Alive Publishing Trading UK Limited is controlled by Michael and Susan Conway, the editor in chief and the publishing director respectively, of Alive Publishing Limited)
During the year the Charity received dividends from the ordinary shares of £8,500 (2020 £38,636).
The preference shares attract a fixed cumulative preferential net cash dividend of seven pence per annum per share accruing from the date of subscription for the preference shares. During the year the charity received dividends from the preference shares of £17,430 (2020 £17,430)
Subject to the preference dividend being full in respect of that financial year and in respect of all previous financial years of the Company, every dividend shall be paid to the holders of the ordinary shares held by each holder of those shares.
During the year the Charity was charged management fees of £589,750(2020 £716,751) by Alive Publishing Trading UK Limited. At the balance sheet date the amount due to Alive Publishing Trading UK Limited was £65,839 (2020 £209,778).
## Conway Associates (UK) Limited
(Conway Associate (UK) Limited is a company that is controlled by M Conway, the editor in chief of Alive Publishing Limited.)
During the year, the Charity was charged rent of £37,620 (2020: £37,621) by Conway Associates (UK) Limited. At the balance sheet date the amount due to/from Conway Associates (UK) Limited was £Nil (2020 - Nil).
Page 25
## **Alive Publishing Limited**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
**Investment income**
Shares in group undertakings
Other fixed asset invest - FII
Deposit account interest
**Charitable activities**
Subscriptions
Books and other sales
Pamphlet sales
L'osservatore Romano
Design service
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Other fundraising costs
Outsourcing costs
**Support costs**
**Management**
Rent, rates and utilities
Consultancy fees
Patents and licences
Improvements to property
**Finance**
Bank charges
Carried forward|**2021**
**£**
166,410
52,466
218,876
8,500
17,430
12
25,942
349,860
146,861
111,973
825
6,422
615,941
860,759
127,995
589,750
717,745
37,620
57,906
187
821
96,534
11,198
11,198|**2020**
**£**
132,385
118,470
250,855
38,636
17,430
31
56,097
446,889
118,914
161,223
1,110
5,121
733,257
1,040,209
155,855
716,750
872,605
37,621
55,150
78
1,006
93,855
8,898
8,898|
|---|---|---|
This page does not form part of the statutory financial statements
Page 26
## **Alive Publishing Limited**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2021**
|**Finance**
Brought forward
Foreign currency (gains)/ losses
**Governance costs**
Auditors' remuneration
Accountancy fees
Legal and professional fees
Total resources expended
**Net income**|**2021**
**£**
11,198
893
12,091
17,500
7,500
119
25,119
851,489
9,270|**2020**
**£**
8,898
458
9,356
17,500
7,500
858
25,858
1,001,674
38,535|
|---|---|---|
This page does not form part of the statutory financial statements
Page 27