REGISTERED COMPANY NUMBER: 02218996 (England and Wales) REGISTERED CHARITY NUMBER: 298807
Alive Publishing Limited (A Company Limited by Guarantee)
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
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 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 6 |
| Independent Examiner's Report | 7 | ||
| Statement of Financial Activities | 8 | ||
| Balance Sheet | 9 | to | 10 |
| Notes to the Financial Statements | 11 | to | 20 |
| Detailed Statement of Financial Activities | 21 | to | 22 |
Alive Publishing Limited
Reference and Administrative Details for the Year Ended 31 March 2023
TRUSTEES Mrs S L Conway (resigned 12/7/2023) M M Conway L M Conway (resigned 12/7/2023) Rev S Heaney (resigned 12/8/2022) Miss J M Moorhead Mrs C Kormoczy Mrs M T Mazur (appointed 12/7/2023) REGISTERED OFFICE St Mary's House Crewe Road Alsager Stoke on Trent ST7 2EW
REGISTERED COMPANY 02218996 (England and Wales) NUMBER REGISTERED CHARITY 298807 NUMBER INDEPENDENT EXAMINER 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 2023
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 2023. 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. The essence of the magazine is the daily reflection on one of the daily Mass readings and it remains the Charity's 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.
Kindle: Bible Alive is currently available on Kindle and we intend to make other publications also available.
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.
During the year, a team from the Charity embarked upon a fundraising initiative by climbing the 4 highest Irish Peaks. A professional mountain climbing company was on board and our 7 climbers rose to the challenge. We carried advertising and marketing in all our publications - our strap line was: Every Prisoner Deserves a Bible. We completed the climb in July 2022 and our readership and customer base responded well raising over £50,000.
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.
St Chad's Cathedral Website: We constructed, run and maintain St Chad's Cathedral Website and work closely with Monsignor Timothy Menezes, the Dean of the Cathedral and his team.
Page 2
Alive Publishing Limited
Report of the Trustees for the Year Ended 31 March 2023
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:
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1) That the aims of the organisation continue to be charitable;
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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 over time we are still 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 2023 shows income of £828,958 (2022: £817,173). Expenditure amounted to £806,052 (2022: £814,723) The net effect of the above is that, over the year, the funds of the charity increased by £22,906.
Page 3
Alive Publishing Limited
Report of the Trustees for the Year Ended 31 March 2023
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 seven 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 2023 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 £89,569 of which £1,230 was invested in fixed assets. Setting these terms aside, the balance of £88,339 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 8-10.
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;
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Its assets are safeguarded against unauthorised use or disposition;
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Proper records are maintained and financial information used within the charity or for publication is reliable; and
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The charity complies with relevant laws and regulations.
Page 4
Alive Publishing Limited
Report of the Trustees for the Year Ended 31 March 2023
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, 10th August 2001 and 29 September 2003. It is a charity registered with the Charity Commission and there are currently 6 members (6 in 2022), 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.
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 19 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.
Page 5
Alive Publishing Limited
Report of the Trustees for the Year Ended 31 March 2023
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 12 December 2023 and signed on the board's behalf by:
Mrs S L Conway - Trustee
Page 6
Independent Examiner's Report to the Trustees of Alive Publishing Limited
Independent examiner's report to the trustees of Alive Publishing Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
E E Marshall-Birks FCA
The Institute of Chartered Accountants in England and Wales
Marshall & Co Chartered Accountants St Mary's House Crewe Road Alsager Stoke on Trent ST7 2EW
12 December 2023
Page 7
Alive Publishing Limited
Statement of Financial Activities for the Year Ended 31 March 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 6,345 Charitable activities 4 Bible Alive subscriptions 366,441 Books and other sales 82,213 WWM sales 152,703 L'osservatore Romano - Design service 6,404 Investment income 3 17,473 Total 631,579 EXPENDITURE ON Raising funds 5 (1,000) Charitable activities 6 Bible Alive subscriptions 413,282 Books and other sales 92,748 WWM sales 172,266 L'osservatore Romano - Design service 7,199 Total 684,495 NET INCOME/(EXPENDITURE) (52,916) RECONCILIATION OF FUNDS Total funds brought forward 142,485 TOTAL FUNDS CARRIED FORWARD 89,569 |
Restricted funds £ 197,379 - - - - - - 197,379 - 73,287 16,447 30,547 - 1,276 121,557 75,822 144,510 220,332 |
2023 Total funds £ 203,724 366,441 82,213 152,703 - 6,404 17,473 828,958 (1,000) 486,569 109,195 202,813 - 8,475 806,052 22,906 286,995 309,901 |
2022 Total funds £ 143,062 386,817 110,160 152,630 165 6,907 17,432 |
|---|---|---|---|
| 817,173 | |||
| - 482,598 135,953 187,680 403 8,089 |
|||
| 814,723 | |||
| 2,450 284,545 |
|||
| 286,995 |
The notes form part of these financial statements
Page 8
Alive Publishing Limited
Balance Sheet 31 March 2023
| Unrestricted fund Notes £ FIXED ASSETS Intangible assets 11 1,230 Investments 13 250,000 251,230 CURRENT ASSETS Debtors 14 (29,016) Cash at bank and in hand 82,871 53,855 CREDITORS Amounts falling due within one year 15 (215,516) NET CURRENT ASSETS (161,661) TOTAL ASSETS LESS CURRENT LIABILITIES 89,569 NET ASSETS 89,569 FUNDS 18 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - 220,332 - 220,332 - 220,332 220,332 220,332 |
2023 Total funds £ 1,230 250,000 251,230 191,316 82,871 274,187 (215,516) 58,671 309,901 309,901 89,569 220,332 309,901 |
2022 Total funds £ 1,417 250,000 251,417 137,977 82,630 220,607 (185,029) 35,578 286,995 286,995 142,485 144,510 286,995 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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.
The financial statements were approved by the Board of Trustees and authorised for issue on 12 December 2023 and were signed on its behalf by:
The notes form part of these financial statements
continued...
Page 9
Balance Sheet - continued 31 March 2023
Alive Publishing Limited
L M Conway - Trustee
S L Conway - Trustee
The notes form part of these financial statements
Page 10
Alive Publishing Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
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.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
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:
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The donot specifies that the grant or donation must only be used in future accounting periods; or
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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.
continued...
Page 11
Alive Publishing Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES - continued
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
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. DONATIONS AND LEGACIES
| 2. DONATIONS AND LEGACIES |
|||
|---|---|---|---|
| Donations Gift aid 3. INVESTMENT INCOME Other fixed asset invest - FII Deposit account interest 4. 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 |
2023 £ 188,609 15,115 203,724 2023 £ 17,430 43 17,473 2023 £ 366,441 82,213 152,703 - 6,404 607,761 |
2022 £ 128,988 14,074 |
|
| 143,062 | |||
| 2022 £ 17,430 2 17,432 2022 £ 386,817 110,160 152,630 165 6,907 |
2022 £ 17,430 2 |
||
| 17,432 | |||
| 656,679 |
continued...
Page 12
Alive Publishing Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
5. RAISING FUNDS
Other trading activities
| Other trading activities | ||
|---|---|---|
| Bad debts CHARITABLE ACTIVITIES COSTS Bible Alive subscriptions Books and other sales WWM sales Design service SUPPORT COSTS Management £ Bible Alive subscriptions 42,381 Books and other sales 9,511 WWM sales 17,666 Design service 739 70,297 |
2023 £ (1,000) Support Direct costs (see Costs note 7) £ £ 424,692 61,877 95,308 13,887 177,019 25,794 7,396 1,079 704,415 102,637 Governance Finance costs £ £ 7,625 11,871 1,711 2,665 3,178 4,950 133 207 12,647 19,693 |
2022 £ - Totals £ 486,569 109,195 202,813 8,475 |
| 807,052 | ||
| Totals £ 61,877 13,887 25,794 1,079 |
||
| 102,637 |
6. CHARITABLE ACTIVITIES COSTS
7. SUPPORT COSTS
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Auditors' remuneration | - | 17,500 |
| Depreciation - owned assets | - | 3 |
| Patents and licences amortisation | 187 | 187 |
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
continued...
Page 13
Alive Publishing Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies - Charitable activities Bible Alive subscriptions 386,817 Books and other sales 110,160 WWM sales 152,630 L'osservatore Romano 165 Design service 6,907 Investment income 17,432 Total 674,111 EXPENDITURE ON Charitable activities Bible Alive subscriptions 374,738 Books and other sales 105,224 WWM sales 145,117 L'osservatore Romano 348 Design service 6,166 Total 631,593 NET INCOME/(EXPENDITURE) 42,518 RECONCILIATION OF FUNDS Total funds brought forward 99,966 TOTAL FUNDS CARRIED FORWARD 142,484 |
Restricted funds £ 143,062 - - - - - - 143,062 107,860 30,729 42,563 55 1,923 183,130 (40,068) 184,579 144,511 |
Total funds £ 143,062 386,817 110,160 152,630 165 6,907 17,432 |
|---|---|---|
| 817,173 | ||
| 482,598 135,953 187,680 403 8,089 |
||
| 814,723 | ||
| 2,450 284,545 |
||
| 286,995 |
continued...
Page 14
Alive Publishing Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
11. INTANGIBLE FIXED ASSETS
| INTANGIBLE FIXED ASSETS | |
|---|---|
| Patents | |
| and | |
| licences | |
| £ | |
| COST | |
| At 1 April 2022 and 31 March 2023 | 1,869 |
| AMORTISATION | |
| At 1 April 2022 | 452 |
| Charge for year | 187 |
| At 31 March 2023 | 639 |
| NET BOOK VALUE | |
| At 31 March 2023 | 1,230 |
| At 31 March 2022 | 1,417 |
| TANGIBLE FIXED ASSETS | |
| Improvements | |
| to | |
| property | |
| £ | |
| COST | |
| At 1 April 2022 | 113,995 |
| Disposals | (113,995) |
| At 31 March 2023 | - |
| DEPRECIATION | |
| At 1 April 2022 | 113,995 |
| Eliminated on disposal | (113,995) |
| At 31 March 2023 | - |
| NET BOOK VALUE | |
| At 31 March 2023 | - |
| At 31 March 2022 | - |
12. TANGIBLE FIXED ASSETS
13. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Shares in group Unlisted undertakings investments £ £ MARKET VALUE At 1 April 2022 and 31 March 2023 1,000 249,000 NET BOOK VALUE At 31 March 2023 1,000 249,000 At 31 March 2022 1,000 249,000 |
Totals £ 250,000 |
| 250,000 | |
| 250,000 |
There were no investment assets outside the UK.
Page 15
continued...
Alive Publishing Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
13. FIXED ASSET INVESTMENTS - continued
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
| % Class of share: holding Ordinary shares 33 Aggregate capital and reserves Loss for the year 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 16) Accruals and deferred income Accrued expenses 16. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts |
2023 £ 35,394 (78,367) 2023 £ 27,711 2,086 31,191 130,328 191,316 2023 £ - 140,516 75,000 215,516 2023 £ - |
2022 £ 113,134 (187,514) 2022 £ 33,252 2,128 33,430 69,167 137,977 2022 £ 3,887 156,142 25,000 185,029 2022 £ 3,887 |
|---|---|---|
Page 16
continued...
Alive Publishing Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
17. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year 18. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds International Prison Outreach International Faith Outreach Cheerful Giver Four Peaks Challenge TOTAL FUNDS 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 Four Peaks Challenge TOTAL FUNDS |
At 1/4/22 £ 142,485 67,826 15,264 46,317 15,103 144,510 286,995 Incoming resources £ 631,579 147,120 11,682 5,301 33,276 197,379 828,958 |
2023 2022 £ £ - 15,675 Net movement At in funds 31/3/23 £ £ (52,916) 89,569 36,672 104,498 2,139 17,403 3,735 50,052 33,276 48,379 75,822 220,332 22,906 309,901 Resources Movement expended in funds £ £ (684,495) (52,916) (110,448) 36,672 (9,543) 2,139 (1,566) 3,735 - 33,276 (121,557) 75,822 (806,052) 22,906 |
|---|---|---|
continued...
Page 17
Alive Publishing Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
18. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1/4/21 £ Unrestricted funds General fund 99,966 Restricted funds International Prison Outreach 124,930 International Faith Outreach 16,317 Cheerful Giver 43,332 Four Peaks Challenge - 184,579 TOTAL FUNDS 284,545 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 674,111 Restricted funds International Prison Outreach 100,134 International Faith Outreach 15,888 Cheerful Giver 8,625 Four Peaks Challenge 18,415 143,062 TOTAL FUNDS 817,173 |
Net movement At in funds 31/3/22 £ £ 42,519 142,485 (57,104) 67,826 (1,053) 15,264 2,985 46,317 15,103 15,103 (40,069) 144,510 2,450 286,995 Resources Movement expended in funds £ £ (631,592) 42,519 (157,238) (57,104) (16,941) (1,053) (5,640) 2,985 (3,312) 15,103 (183,131) (40,069) (814,723) 2,450 |
|---|---|
continued...
Page 18
Alive Publishing Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
18. MOVEMENT IN FUNDS - continued
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 Four Peaks Challenge TOTAL FUNDS |
At 1/4/21 £ 99,966 124,930 16,317 43,332 - 184,579 284,545 |
Net movement in funds £ (10,397) (20,432) 1,086 6,720 48,379 35,753 25,356 |
At 31/3/23 £ 89,569 104,498 17,403 50,052 48,379 |
|---|---|---|---|
| 220,332 | |||
| 309,901 |
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 | 1,305,690 | (1,316,087 ) | (10,397) |
| Restricted funds | |||
| International Prison Outreach | 247,254 | (267,686) | (20,432) |
| International Faith Outreach | 27,570 | (26,484) | 1,086 |
| Cheerful Giver | 13,926 | (7,206) | 6,720 |
| Four Peaks Challenge | 51,691 | (3,312) | 48,379 |
| 340,441 | (304,688) | 35,753 | |
| TOTAL FUNDS | 1,646,131 | (1,620,775 ) | 25,356 |
19. 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 £nil (2022 £nil).
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 (2022 £17,430)
continued...
Page 19
Alive Publishing Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
19. RELATED PARTY DISCLOSURES - continued
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 £582,858 (2022 £558,500) by Alive Publishing Trading UK Limited. At the balance sheet date the amount due to Alive Publishing Trading UK Limited was £ 72,914 (2022 £5442).
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 £18,810 (2022: £37,620) by Conway Associates (UK) Limited. At the balance sheet date the amount due to/from Conway Associates (UK) Limited was £Nil (2022 - Nil) and no further rent will be paid to Conway Associates (UK) Limited as the Charity has relocated to new premises and pays it's rent to an unrelated third party landlord.
Page 20
Alive Publishing Limited
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid Investment income 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 Other trading activities Bad debts Charitable activities Other fundraising costs Outsourcing costs Support costs Management Rent, rates and utilities Consultancy and professional fees Patents and licences Improvements to property Finance Bank charges Foreign currency (gains)/ losses |
2023 £ 188,609 15,115 203,724 17,430 43 17,473 366,441 82,213 152,703 - 6,404 607,761 828,958 (1,000) 121,557 582,858 704,415 18,810 51,300 187 - 70,297 13,020 (373) 12,647 |
2022 £ 128,988 14,074 |
|---|---|---|
| 143,062 17,430 2 |
||
| 17,432 386,817 110,160 152,630 165 6,907 |
||
| 656,679 | ||
| 817,173 - 123,131 558,501 |
||
| 681,632 37,620 57,200 187 3 |
||
| 95,010 12,073 780 |
||
| 12,853 |
This page does not form part of the statutory financial statements
Page 21
Alive Publishing Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| Finance Governance costs Auditors' remuneration Independent Examiners fee Accountancy fees Legal and professional fees Total resources expended Net income |
2023 £ - 12,000 7,500 193 19,693 806,052 22,906 |
2022 £ 17,500 - 7,500 228 |
| 25,228 | ||
| 814,723 | ||
| 2,450 |
This page does not form part of the statutory financial statements
Page 22