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|Reference and Administrative|Reference and Administrative|Details||
|---|---|---|---|
|Chairman's
Review||||
|Trustees'
Report||||
|Independent
Auditor's|Report||14|
|Statement of Financial|Activities||18|
|Balance Sheet|||19|
|Statement ofCashflows|||20|
|Notes to the Financial Statements|||21|
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|||||Unrestricted|Designated|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Funds|Funds|
|||||2023|2023|2023|2022|
||||Notes|E|E|E|E|
|Income from:||||||||
|Donations
and|legacies|||538,230||538,230|552,391|
|Investments||||917,883||917,883|683,667|
|Total income||||1,456,113||1,456,113|1,236,058|
|Expenditure
on:||||||||
|Raising funds||||96,084||96,084|117,051|
|Charitable
activities||||1,164,687|1,642,315|2,807,002|2,810,809|
|Total expenditure||||1,260,771|1,642,315|2,903,086|2,927,860|
|Net income/(expenditure)|||before|||||
|gains on investments||||195,342|(1,642,315)|(1,446,973)|(1,691,802)|
|Net (losses)/gains||on||||||
|investments||||(2,245,877)||(2,245,877)|486,973|
|Net (expenditure)||||(2,050,535)|(1,642,315)|(3,692,850)|(1,204,829)|
|Transfers between||funds||||||
|Net movement|in|funds||(2,050,535)|(1,642,315)|(3,692,850)|(1,204,829)|
|Reconciliation|of|funds:||||||
|Funds
brought|forward-|||||||
|restated|||17,18|33,167,948|2,645,730|35,813,678|37,018,507|
|Funds carried|forward||17,18|31,117,413|1,003,415|32,120,828|35,813,678|
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|||||Notes|||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||E|E|
|Fixed assets|||||||
|Investments||||11|27,192,624|30,434,678|
|Social investments||||12|5,322,151|5,039,241|
|Tangible fixed assets||||13|1,184||
||||||32,515,959|35,473,919|
|Current assets|||||||
|Debtors||||14|325,304|401,518|
|Cash at bank and||in|hand||7,444,903|118,630|
||||||7,770,207|520,148|
|Creditors: amounts|||falling due within one year|15|(7,895,754)|(143,139)|
|Net current|(liabilities)/assets||||(125,547)|377,009|
|Total assets|less current liabilities||||32,390,412|35,850,928|
|Creditors: amounts|||falling due in more than one year|16|(269,584)|(37,250)|
|Net assets|||||32,120,828|35,813,678|
|Funds|||||||
|Unrestricted|funds|||17,18|31,117,413|33,167,948|
|Designated|funds|||17,18|1,003,415|2,645,730|
||||||32,120,828|35,813,678|
|||||Notes|||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||E|E|
|Cash flows from operating|activities||||||
|Net cash used in operating|activities|||19|(1,653,297)|(2,903,732)|
|Cash flows from investing|activities||||||
|Investment
income|||||917,883|683,667|
|Payments
to acquire fixed|assets||||(1,578)||
|Proceeds from the sale of investments|||||5,335,661|1,845,724|
|Purchase of investments|||||(3,982,555)|(4,590,712)|
|Movement
in cash held
in|the portfolios||||(369,641)|3,750,601|
|Concessionary
loans written
off||||||80,000|
|Concessionary
loans repaid|||||79,800|59,800|
|Net cash provided
by investing
activities|||||1,979,570|1,829,080|
|Cash flows from financing|activities||||||
|New loans|||||7,000,000||
|Net cash used in financing|activities||||7,000,000||
|Change in cash and cash equivalents||in the|year|20|7,326,273|(1,074,652)|
|Cash and cash equivalents|at the beginning||ofthe year|20|118,630|1,193,282|
|Cash and cash equivalents|at the end|ofthe year||20|7,444,903|118,630|
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|Donations|||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||2023|2022|
||||E|E|
|Donated investments|||349,998|201,040|
|Peter Vardy Holdings|Limited||163,381|301,793|
|Peter Vardy||||26,081|
|Vardy Property Aberdeen||Limited|24,851|16,957|
|Gift Aid||||6,520|
||||538,230|552,391|
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|3|Investment|Investment|income||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||||E|E|
||Income from listed investments||||||722,849|615,467|
||Income from bank deposits||||||195,034|68,200|
||||||||917,883|683,667|
|4|Cost of raising funds||||Unrestricted|Designated|Total|Unrestricted|
||||||2023|2023|2023|2022|
||||||E|E||E|
||Investment||manager's|fees|96,084||96,084|117,051|
|5|Charitable|activities|||Unrestricted|Designated|Total|Unrestricted|
||||||2023|2023|2023|2022|
||||||E|E|E|E|
||Grants to:||||||||
||Institutions||(note 6)||1,133,375|1,642,315|2,775,690|2,618,849|
||Individuals||||25,000||25,000|36,890|
||Total grants||||1,158,375|1,642,315|2,800,690|2,655,739|
||Support costs (note 8)||||6,312||6,312|155,070|
||||||1,164,687|1,642,315|2,807,002|2,810,809|
|6|Grants to institutions|Grants to institutions||||Unrestricted|Designated|Total|Unrestricted|
|---|---|---|---|---|---|---|---|---|---|
|||||||2023|2023|2023|2022|
|||||||E|f|E|E|
||Aberlour
Child|Care|Trust||||101,502|101,502||
||Alpha
Global||||||300,000|300,000|50,000|
||Anchor House —The||Neuk||||30,000|30,000||
||A Way Out||||||||35,000|
||Biblica Europe|||||435,538||435,538|100,000|
||Care for Children|||||41,400||41,400||
||Cranmer
Hall||||||100,000|100,000||
||Eastern
University
Campolo||||||||33,047|
||Elim Foursquare|Gospel Alliance|||||45,000|45,000||
||Empty Kitchen|Full Hearts|||||||25,000|
||Evangelical
Alliance||||||45,000|45,000||
||Fields of Life||||||||36,695|
||Go!Youth Trust||||||50,000|50,000||
||Good Shepherd|Foundation|||UK|656,437||656,437|285,950|
||Hexham
Community||Church||||30,000|30,000||
||Isaiah 61Movement||||||25,000|25,000||
||junction 42||||||102,000|102,000||
||Keyfund
Federation||||||40,000|40,000||
||Kids Operating|Rooms|||||||125,000|
||L'Arche
UK||||||||30,000|
||Mercy Ships||||||||900,000|
||Philo Trust||||||42,500|42,500||
||Re: Hope Next|Generation|||||109,000|109,000|92,400|
||Revelation
Trust||||||30,000|30,000|30,000|
||Sage Gateshead||||||||300,000|
||Simon Community
Trust||||||45,000|45,000||
||Thana Trust||||||||36,000|
||The Cinnamon|Network|||||||50,000|
||The Cyrenians|(Changing||Lives)|||50,000|50,000||
||The Social Bite|Fund|||||50,000|50,000|25,000|
||Try Praying||||||||25,000|
||Other awards
& E25,000||||||447,313|447,313|439,757|
|||||||1,133,375|1,642,315|2,775,690|2,618,849|
##
|7|Analysis ofgrants|Analysis ofgrants||2023|2023|2022|2022|
|---|---|---|---|---|---|---|---|
|||||No.|E|No.|E|
||DCMS|||80|1,532,315|1|300,000|
||Arts|||||1|10,000|
||Relief|||1|1,000|||
||Education|||16|125,390|17|24,890|
||Religion|||1|435,538|35|528,235|
||Welfare|||2|697,832|61|1,792,614|
|||||100|2,800,690|115|2,655,739|
|8|Support costs|||Unrestricted|Designated|Total|Unrestricted|
|||||2023|2023|2023|2022|
|||||E|E|E|E|
||Salaries (note 9)||||||1,280|
||FOREX gain|||(64,853)||(64,853)|(1,073)|
||Depreciation|||394||394||
||Travel &accommodation|||4,379||4,379|2,134|
||Insurance|||5,738||5,738|6,790|
||Heat and light|||235||235|1,151|
||Office costs|||3,220||3,220|1,916|
||Computer
costs|||222||222|173|
||Property costs|||10,654||10,654|16,287|
||Bank charges|||1,027||1,027|923|
||Accountancy|||8,400||8,400|7,920|
||Professional|fees||3,708||3,708|12,662|
||Marketing|||851||851|450|
||Rent|||24,477||24,477|16,957|
||Write offofirrecoverable||loans||||80,000|
||Governance|costs||7,860||7,860|7,500|
|||||6,312||6,312|155,070|
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|11|Investments||||Total|Total|
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||E|f|
||At 6April||||30,434,678|30,764,248|
||Gifted shares||||349,998|201,040|
||Purchases at cost||||3,619,845|4,578,742|
||Disposal proceeds||||(5,335,661)|(1,845,724)|
||Movement
in cash held in the portfolios||||369,641|(3,750,601)|
||(Losses)/gains
on revaluation||||(2,245,877)|486,973|
||At 5 April||||27,192,624|30,434,678|
||Historic cost at|5 April|||24,421,173|25,142,220|
|12|Social investments|||Charitable|Charitable|Total|
|||||loans|property|investments|
|||||E|E|E|
||Cost||||||
||At 6April 2022|||542,996|4,496,245|5,039,241|
||Additions||||362,710|362,710|
||Repayments|||(79,800)||(79,800)|
||At 5 April 2023|||463,196|4,858,955|5,322,151|
||Charitable
loans comprise:||||2023|2022|
||||||E|E|
||Northpoint
Fostering||CIC|||20,000|
||North East Autism Society||||47,917|72,917|
||Re: Hope Church Glasgow||||187,500|217,500|
||Jason Mayhall,|Pastor|ofthe Bethany Christian|Centre|227,779|237,579|
||||||463,196|542,996|
##
|13|Tangible fixed assets|Tangible fixed assets||Computer||
|---|---|---|---|---|---|
|||||equipment|Total|
|||||E|E|
||Cost|||||
||At 6 April 2022|||||
||Additions|||1,578|1,578|
||At 5 April 2023|||1,578|1,578|
||Depreciation|||||
||At 6 April 2022|||||
||Charge for the year|||394|394|
||At 5 April 2023|||394|394|
||Net book value|||||
||At 5 April 2023|||1,184|1,184|
||At 5 April 2022|||||
|14|Debtors|||2023|2022|
|||||E|E|
||Donations
receivable|||163,381|308,314|
||Prepayments
and accrued income|||161,923|93,204|
|||||325,304|401,518|
|15|Creditors: amounts|falling due within one year||2023|2022|
|||||E|E|
||Trade creditors||||1,300|
||Grant creditors|||860,937|102,834|
||Accruals and deferred||income|34,728|39,005|
||Other creditors|||7,000,089||
|||||7,895,754|143,139|
|16|Creditors: amounts|falling due in more than one year||2023|2022|
|||||E|E|
||Grant creditors|||269,584|37,250|
##
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||At 6 April||||Gains/|At 5 April|
|---|---|---|---|---|---|---|
||2022|Income|Expenditure|Transfers|(losses)|2023|
||E|E|E|E|E|E|
|2022/23|||||||
|Unrestricted|33,167,948|1,456,113|(1,260,771)||(2,245,877)|31,117,413|
|Designated|||||||
|Matched|||||||
|Funding|1,670,000||(1,532,315)|||137,685|
|Peter
Vardy|||||||
|Foundation|974,962||(110,000)|||864,962|
|Jigsaw|||||||
|Foundation|768|||||768|
||2,645,730||(1,642,315)|||1,003,415|
|Total|35,813,678|1,456,113|(2,903,086)||(2,245,877)|32,120,828|
||At 6 April||||Gains/|At 5 April|
||2022|Income|Expenditure|Transfers|(losses)|2021|
||E|E|E|E|E|E|
|2021/22|||||||
|Unrestricted|34,200,081|1,236,058|(2,440,164)|(315,000)|486,973|33,167,948|
|Designated|||||||
|Matched|||||||
|Funding|1,970,000||(300,000)|||1,670,000|
|Peter
Vardy|||||||
|Foundation|827,658||(157,696)|305,000||974,962|
|Jigsaw|||||||
|Foundation|20,768||(30,000)|10,000||768|
||2,818,426||(487,696)|315,000||2,645,730|
|Total|37,018,507|1,236,058|(2,927,860)||486,973|35,813,678|
##
|Analysis ofnet assets|Analysis ofnet assets|between|between|funds|funds|Unrestricted|Designated|Total|
|---|---|---|---|---|---|---|---|---|
|||||||f|E|E|
|2022/23|||||||||
|Investments||||||27,192,624||27,192,624|
|Social investments||||||5,322,151||5,322,151|
|Tangible fixed assets||||||1,184||1,184|
|Net current assets/(liabilities)||||||(1,128,962)|1,003,415|(125,547)|
|Non-current
liabilities||||||(269,584)||(269,584)|
|||||||31,117,413|1,003,415|32,120,828|
|2021/22|||||||||
|Investments||||||30,434,678||30,434,678|
|Social investments||||||5,039,241||5,039,241|
|Net current assets/(liabilities)||||||(2,268,721)|2,645,730|377,009|
|Non-current
liabilities||||||(37,250)|-|(37,250)|
|||||||33,167,948|2,645,730|35,813,678|
|Reconciliation
ofnet||movements|||in funds to cashflows from operating
activities||||
||||||||2023|2022|
||||||||E|E|
|Net (expenditure)|||||||(3,692,850)|(1,204,829)|
|Donated shares|||||||(349,998)|(201,040)|
|Losses/(gains)
on investments|||||||2,245,877|(486,973)|
|Investment
income|||||||(917,883)|(683,667)|
|Depreciation|||||||394||
|Decrease/(increase)|in debtors||||||76,214|(78,013)|
|Increase/(decrease)|in creditors||||||984,949|(249,210)|
|Net cash (used in) operating|||activities||||(1,653,297)|(2,903,732)|
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|20|Analysis ofnet funds|At 6 April||At 5 April|
|---|---|---|---|---|
|||2022|Cashf
low|2023|
|||E|E|E|
||Cash at bank and in hand|118,630|326,273|444,903|
||Borrowings||7,000,000|7,000,000|
||Net funds|118,630|7,326,273|7,444,903|
##
|Organisation||Common|Trustees|Value ofdonation|
|---|---|---|---|---|
|Junction 42 Foundation||Richard|A RVardy|E102,000|
|Bethany Christian|Centre Property Trust|Sir Peter|Vardy|E5,000|
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