REGISTERED CHARITY NUMBER: 504644 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR HEATH CHRISTIAN BOOKSHOP MHA Elfed House Oak Tree Court Cgrdiff Gale Business Park CARDIFF CF23 8RS
HEATH CHRISTIAN BOOKSHOP CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 11
HEATH CHRISTIAN BOOKSHOP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES The object of the charity is to advance the Christian religion by selling Christian literature. cards, recordings and other related goods. Public bgngfit The trustees can confimi that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission. Significant aclivilies that we undertook during the year that demonstrate public benefit are set out below. Revlew of activities and a¢hievernents The trust has operated from its premises at 122 Whitchurch Road throughout the year under review, where the premises provided excellent facilities for aclivilies to further its objects by the promotion of Christian literature. The premises were open lo the public daily apart from on public holidays and Sundays. Throughout the year the trust provided.. access to comfortable seating in adjacent premises for reading. access to certain free Christian literature.. bookstalls as requested off the premises- facilities for hosting new book launches and other events such as book reviews of Christian lileratuie.. support for the promotion of Christian literature by hosting and supplying monthly reading groups.. and provision of discounted stock for public purchase during Christian holiday periods. The trust operated a website which was used to promote Christian literature and recordings- it also served as a medium for contacting the bookshop. FINANCIAL REVIEW Total income reported for the year £66,669 {2022: £55.338} upon whieh an nStriCted surplus of £866 (2022: loss of £8,765) has beèn reported. The total funds of the charity at the year end were £64.282 all of which were unrestricted, of which £1,146 is made up of tangible fixed assets leaving £63.136 as the total free reserves of the charity. The object of the charity is to have sufficient reserves to finance its Stock and fixed assets and sufficient cash to avoid the need for bank or other borrowings. The current level of reseNes is regarded as satisfactory. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The Charity is controlled by Its goveming document, a deed of trust and constitutes an unincorporated charity. Page I
HEATH CHRISTIAN BOOKSHOP REPORT OF THE TRUSTEES FOR ThE YEAR ENDED 31 DECEMBER 2023 8TRUCTUR4 GOVERNANCE AND MANAGEMENT The Int was establish on 22 septnber 1975 under a Ift1 deed arKI Is a registered ¢harlty no. 504644. The trustees. indudiw vjl trlose setved during the y6ar. are set rArt on page 1 L. Tru8te8s affj app)inted by the existlng body of trustees. When the trust fft. d8cWrAs aro takan on a maioffty basls. A quon of three trust888 ffj requlred In megtlng8. R•lalloMhlp to H••th Evang•ll¢al Church Th8 charity was origlnamy set up by membarn of Heath Evarwjcal Chwth, Cwdiff and this r*ur¢h has sUppted the Charity financialty $irKo Ihen. So far as tw)ssible th8 Paslorcrf the church stwll ts a Irustse ofthg Gharfty. REFERENCE AND ADMINISTrAYIVE DETAILS Raglstsr•d Charlty numbor Prlnelpal •ddv•• 122 IAlhlt¢hurch Road County of Cardtff CF14 3LZ Tru•teo• P R wifis A C Piroozi Rev AW Hughes K thhard R Orchard C Protharo AJLee Resigned 0210W24 Rest•1 04103124 MHA {tradtng name of MaclntyTe Hudson LLP) Limited Ilabiltty partnership in England & Walas Reglstere(S number OC312313 Elfed House Oak Tree Court Cardiff Gate Bne$S Pa CARDIFF CF23 8RS S•nk>r staff R Hate B•nk•r• Natwest Bank 207 Richmond Road Roath Cardiff CF24 3UX Approvod by order ol the Boarf ofTrust889 on .. . Thj signed on behalf ty: rd - Trustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HEATH CHRISTIAN BOOKSHOP Independent examiner's report to the trustees of Heath Christian Bookshop I report to the charity trustees on my examination of the accounts of Heath Christian Bookshop (the TNst) for the year ended 31 December 2023. Responsibiliti#$ and basis of report As the charity Iruslees of the Trust you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 {'the Act'}. I report in respect of my examination of the Tntst's accounts carried out under Section 145 of ihe Act and In carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5){b) of the Act. Independent examinerfs statement I have completed my examination. I confiTh that no material matters have come lo my attention in connection wlh the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by Section 130 of the Act,. or the accounts do not accord with those records., or the accounts do not cornply with the applicable requiremenls concerning the form and content of accounts Set out in the Charities (Accounts and Reports) Regulations 2008 other than any requiremenl thal the accounts give a true and fair view which is not a matter consided as part of an independent examination. I have no concerns and have come acTOSS no other matters in ¢onne¢tion with the examination to which allention should be drawn in this report in order to en8ble a proper understanding of the accounts to be 8¢hed. Julia Mortimer FCCA MHA (trdding name of Maclntyre Hudson LLP) Limited liability partnership in England & Wales Re9iStered number OC312313 CARDIFF CF23 8RS Date: Page 3
HEATH CHRISTIAN BOOKSHOP STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted lund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donalions and legacies 3.439 9,000 12,439 9,831 Charitable actlvitles Sale of Christian literature 53,864 53,864 45,420 Investment income 366 366 87 Total 57.669 9,000 66,669 EXPENDITURE ON Charitable activities Sale of Christian literature 56,803 9,000 65.803 64,103 NET INCOMEIIEXPENDITURE) 866 866 (8,765) RECONCILIATION OF FUNDS Total funds brought forward 63.416 63.416 72,181 TOTAL FUNDS CARRIED FORWARD 64,282 64.282 63.416 The notes fomi part of these financial slatements Page 4
HEATH CHRISTIAN BOOKS+IOP 31 DECEMBER 2023 2023 2022 Totsl ld fund RXED ASSETS Tangte assets 10 1,146 1,146 CURRENT ASSEf8 11 12 23.771 1,115 23.7T1 1.115 24.967 676 Debio Cash al bank and in hand 68,307 66.307 70.868 CREDITORS 13 (3.171) {3.171) 18,356) 63.136 62,512 TOTAL ASSEfs LESS CURRENT UABIUTIES 64.282 63,416 NEf ASSETS 64.282 63.416 FUNIY6 Unreslrfcted fiJn(ts 14 TOTAL FUNDS The finanaal statemènts were approved by the Board of Trustee5 and authorssed for issue on . and re signed on its beha5f by". Tho noto5 fo part of these ffftandal statements Page 5
HEATH CHRISTIAN BOOKSHOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 STATUTORY INFORMATION Heath Christs'an Bookshop is an unincorporated charity in Wales within the United Kingdom. The principal address 1$ 122 Whilchurch Road, Heath, Cardiff, CF14 3LZ. The financial statements arè presented in Sterling 1£), the charity's fun¢tlonal currency, and rounded to the nearest pound. The prlncipal activities and nature of the charity's operatlons Is to advance the Christian religion by selling Christian literatu, cards, cOrdIng$ and other related goods. The significant accounting policies applied in the preparation of Ihese financial statements are set out below. These policie$ have been consistently applied to all years presented unless otherwise stated. ACCOUNTING POLICIES Basls of preparing the financial statements The financial slatements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republi¢ of Ireland (FRS 102) {effective 1 January 20191,, Financial Reporting Standard 102 The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The financial slatemenls have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent lo provide a Xrue and fair. view. This departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practice appllcable to charities preparing their accounts in accordance with the Financial ReportFng St8ndard appli¢able in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Chafities.. Statement of Recommended Practice effective from 1 AprÈl 2005 which has Sin been withdrawn. Assets and liabilities are initially recognised at historical cost or transaction values unless othernise slated in the relevant a¢counting policy note(s}. Going concern The Iruslees and senior management have concluded that Ihe financial statements should be prepared on a going conrn basis and no adjustrnenls or additional dis¢105ures are required to the financial statements at this time. Income All income is CognISed in the Statement of Financial Activities once the charity has enlidement lo the funds. it ts probable that the income will be received. and the amount can be meaSUd reliably. This include5 capital grants Donations and legacies income Donations and legacies income includes donations and gifts that provide core lunding or are of a general nature and are recognised where there is entitlement. probability of receipt and the amount can be measured with sufficient reliabilty. Such income is only deferred when the donor specifies it must be used in fulure accounting periods or Ihe donor has imposed conditions which must be met before the charity has uncondltlonal entitlement. Incorne from charitable activities Income from charitable activities includes income received from Bookshop sales. This income is recognised at the point of sale. Invostment income Investrnent income is recognised on a receNable basis. Page 6 conts'nued...
HEATH CHRISTIAN BOOKSHOP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES - continued Expenditure Liabilities are recogni5ed as expenditure as soon as Ihere 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 ¢ategory. whe costs cannol be directly allribuled to particular headings they have been allocated to activities on a basis consislenl with the use of resources. Charilable expenditure comprises those costs incurred by the charity in the delivery of its a¢tivities and seNices for its beneficiaries. It indudes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are those costs that, whilst ne$Sary to deliver an activity, do not themselves produ¢e or conslitule the output of the charitable activity- This includes governan costs which are those costs associated with meeting the constitutional and statutory requirements of the charity. Tangible fixed assets Fixed assets are Capitalised at cost. Depreciation is calculated so as lo write off the cost of an asset, less ils estimated residual value. over the useful life of that asset as follows: Fixtures. fillings and equipmenl 200/0 reducing balance stocks Stocks are valued at the lower of cost and net realisable value. after making due allowance for obsolete and slow moving items using the FIFO stock valuation method. Taxatlon The charity is exempt from tax on its charitable activities. Fund accounting Unrestrfcted funds can be used in accordance with the charitable objectives at the discretion of the twstees. Restricted funds can only be used for particular restrieted purposes Wlthin the objects of the charity- Reslrictions arise when specified by the donor or when funds are raised for particular reslricted purposes. Further explanation of Ihe nature and purpose of each fvnd is included in the notes to the financial slatemenls. Debtors Trade debtors and other debtors a re¢ognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event thal will probably result in the transfer of funds to a third party and the amount due to settle the obligalion can be measured or estimated reliably. Creditors are normally recognised at their setdement amount after allowing for any trade dis¢ounts due. Ppnslon costs and other post-retlrement beneflts The charitable company makes contributions to personal pension schemes on behalf of its employees. Contributions are charged to the Statement of Financial Activities in the period to which they relate. Financial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial Instruments are initially recognlsed at Iransaclion value and subsequently measured at their settlement value. Page 7 continued...
HEATH CHRISTIAN BOOKSHOP NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 DECEMBER 2023 DONATIONS AND LEGACIES 2023 2022 Gifts and donations 12.439 9.831 INVESTMENT INCOME 2023 2022 Deposit account interest 366 87 CHARITABLE ACTIVITIES COSTS Support costs (see note 61 Direct Costs Totals Sale of Christian literature 61.387 4.416 65,803 SUPPORT COSTS Other costs Goveman¢e costs Finance Depreciation Totals Sale of Christian literature 1.111 276 2,054 975 4.416 Included within support costs are fees payable to the independenl examiner of £975 {2022= £9751. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for Ihe year ended 31 ember 2023 or for the year ended 31 December2022. Trustees. expenses There were no tnjstees, expenses paid for the year ended 31 December 2023 or for the year ended 31 December 2022. STAFF COSTS 2023 2022 Wages and salaries other pension costs 24.737 1,237 24,737 1.233 25,974 25,970 The average monthly number of employees during the year was as follows.. 2023 2022 Total No employees received emoluments in excess of £60,000. Page 8 continued...
HEATH CHRISTIAN BOOKSHOP NOTES TO THE FINANCIAL STATEMENTS - ¢ontinued FOR THE YEAR ENDED 31 DECEMBER 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNITIES Unrestricted fund Reslricled fijnd Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 831 9,000 9,831 Charltable actlvltles Sale of Christian literature 45,420 45,420 Investment income 87 87 Total 46,338 9,000 55,338 EXPENDITURE ON Charitable activities Sale of Christian literature 55.103 64.103 NET INCOMEI(EXPENDITURE) (8,765) 18,765) RECONCILIATION OF FUNDS Total funds brought forward 72,181 72.181 TOTAL FUNDS CARRIED FORWARD 63.416 63,416 10. TANGIBLE FIXED ASSETS Fixiures and fittings COST At 1 January 2023 Additions Disposals 33.950 518 At 31 December 2023 34.139 DEPRECIATION At 1 January 2023 Charge for year Eliminated on disposal 33.046 255 At 31 December 2023 32,993 NET BOOK VALUE At 31 December 2023 1,146 At 31 December 2022 904 Page 9 continued...
HEATH CHRISTIAN BOOKSHOP NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 STOCKS 2023 2022 Stocks 23,771 24,967 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors VAT Prepayments and accrued income 432 64 619 311 365 1.115 676 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors VAT Other creditors Accruals and deferred income 2,078 2,559 185 4,661 951 143 950 3,171 8,356 14. MOVEMENT IN FUNDS Net movement in funds At 31112123 At 111123 UnTestri¢ted funds General fund 63,416 866 64,282 TOTAL FUNDS 63.416 866 64.282 Nel movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in funds Unr¢stri¢ted funds General lund 57,669 {56,803) 866 Restricted funds Salary fund 9,000 (g,000) TOTAL FUNDS 66.669 65.803} 866 Page 10 conth'nued...
HEATH CHRISTIAN BOOKSHOP NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 14. MOVEMENT IN FUNDS- ¢ontinued Comparatives for movement in funds Net movement in funds At 31112122 At 111122 Unrestrlcted funds General fund 72,181 18,7651 63.416 TOTAL FUNDS 72,181 63,416 Comparative net movement in funds, included in the above are as follows.. Incoming sources Resources expended Movement in funds Unrestricted funds General fund 46.338 155.1031 {8,765) Restricted funds Salary fund 9.000 (9.000) TOTAL FUNDS 55.338 64,103) Salary fund During the year, the charity received restricted donations from Ihe Heath Evangelical Church amounting to £9.000 to assist in the payment of salaries and other costs. 15. EMPLOYEE BENEFIT OBLIGATIONS During the year ended 31 Dember 2023 the charity made contributions totalling £1,237 (2022= £1,233} to its employee's pension plan. There were no outstanding contributions payable at the year end (2022: Nil) 16. RELATED PARTY DISCLOSURES The charity is connected with the Heath Evangelical Church in that it has tnjstees in common. The charity reiVed gifts from Heath Evangelical Church in the sum of £9,000 {2022- £9,000) during the year lo assist in the payment of salaries and olher c051s. The total key management personnel remuneration benefits paid during the year was £25.974 (2022: £25.970}. Page 11