World Horizons Limited Financial Statements for the year ended 31st December 2022 I(71DI6. 1310712023 COMPANIES TrKMJSE 112 Colin Dalton FCA Chartered Accourrtant & Independent Examiner Kin8swinford
World Horizon5 Limited Contents Page Company Information Report of the Trustees 3-11 Report of the Independent Examiner 12-13 Statement of Financial Activities 14 Balance Sheet 15-16 Notes to the Financial Statements 17-29
World Horizons Limited . Company Information Board of Trustees G. M. Davies T. R. Morris th M. Adams (resiened 24 June 20221 P. M. Wisdom (resigned 2 April 2022) J. L Lewis J. Farndon (appointed 30 November 2022) C. T Lambert (appointed 30th November 20221 Company Secretary G. M. Oavies Registered Office and Administrative Offi Centre for the Nations North Dock Uanelli Carmarthenshire SA15 2LF Independent Examiner Colin Dalton FCA Chartered Accountant Dalton Pardoe Limited 794 High Street Kingswinford DY6 8BQ Bankers: Barclays Bank plc 16 Vaughan street Llanelli Carmarthenshire SA15 IXJ Company Number: 01680675 Registered Charity.. 513524
World Horizons Limited Report of the Trustees for the year ended 315t Dember 2022 The Trustees present their report and the independently examined financial statements for the year ended 31st December 2022. World Horizons Limited is a company limited by guarantee, not having a share capital. with charitable status. l. Overview of Charitable Objects 1.1 The worldwide charitable objects for World Horizons are a5 follows: - to propagate and spread the E05pel of Jesus Christ throuehout the United Kingdom and the world and to assist in the extension of his kingdom by, but not limited to. the following means.. to recruit, train, and appoint Christian5 in establishing indigenou5. evangelising churches worldwide; . to promote further renewal of the Christian church and the deepening of the spiritual lives of Christians and the partnership between Christian churches, groups. organisation5, and missions,. . to encourage and advise Christians on the start-up and development of enterprises that are focused on generating social, environmental, spiritual, and sustainable profit, that will be used to advance Christian evangelism. church planting and discipleship worldwide- . to advance and promote the Christian faith amongst children and young adults. both in the United Kin8dom and worldwide, by promoting the gospel of Jesus Christ and to help and educate them through the provision of recreational and leisure-time activities to develop their physical. mental and spiritual capacities. that they may grow to full maturity as individuals. members of society and prattisin8 members of the Christian faith- . to advance education in the United Kingdom and worldwide: . to relieve persons who are in conditions of need. hardship, or distress by the provision of gifts in kind, grants of money or medical care or assistan. worldwide. 2. Means of attaining tharitable Objects 2.1 The company has to date addressed its artivities to the above objertives. The main artivities of the company in the year have been: ' giving spiritual and material sUPPOrt to the work of the wld Horizons movement overseas which, for the year, was completely financially autonomous- . furthering the work of World Horizons within the UK by stimulating interest in worldwide evangelism and church planting through conferences, promotional artivities. prayer. training in assorted topics and methods, and wekoming and helping overseas visitors and refugees in the UK;
World Horizons Llmited Report of the Trustees for the year ended 31st December 2022 promotin8 and furthering the renewal of the Christian church and the deepening of the spiritual lives of Christians and the partnership between Christian churches: research and development work to open new Worldwide opportunities for evangelism and church planting; encouraging and advising Christians on the start-up and development of enterprises that are focused on generating social. environmental. spiritual, and sustainable profit that will be used to share the Christian faith. church planting and discipleship worldwide. 2.2 The Charity operates under England and Wales charity legislation and is organised into local/regional teams. Volunteers in other locations do not generate separate income or expenditure belonging to the Charity and so are not accounted for separately in the financial records. Our UK based volunteers currently operate through our teams in Swansea. Liverpool, Manchester, Oerby, Luton, London, and Llanelli. 2.3 In planning our activities for the period, we kept in mind the Charity Commission's guidance on public benefit at our various trustees and team meetings. 3. Achievements, Perfomiance and Future Plans Review of the Period 3.1 Our work has focused on four key strategic areas: wellbein& strengthenin& welcomin8, and transforming. Events 3.2 In conjunction with our French and Spanish teams, we have been developing a vision for mini- European festiva15 which began in the summer of 2022. 3.3 We have continued to Invest in developing our online platforms to strengthen both internal and external communications. including launching a new website in 2022. 3.4 We have continued a range of online prayer gatherings which serve to educate people about diverse cultures and engage them in responding to individual and national need5. 3.5 We held a face-to-face conference for UK members in November 2022 which was attended bv 70 people at The Poplars, Ledbury. 3.6 In partnership with Synergy and Intercultural Churches UK. we hosted a Learning Community in November 2022 equipping team5 to develop an intercultural discipleship culture.
World Horizons Limited Report of the Trustees for the year ended 31st December 2022 Work with Refugees 3.7 Our team in Liverpool have partnered with Bridge 2 and Heritage International Language School to provide refugees with practical support through offering language learning, translation, and provision of food parcels. Along with our team in Derby, who have partnered with Upbeat Communities, they have also provided 5UPPOrt to those arriving in the UK as part ofthe Afghan resettlement programme. Our team in Uanelli have worked with a local charity in collertin sorting, and sending aid to those afferted by the crisis in Vkraine. Support Ministrles 3.8 Our support ministries. induding personnel, finance, visas, HR, communications, and member care continued to provide much-needed support for our UK and overseas workers. We currently have 70 active members based in the UK and 60 in overseas locations. Uanelli Hub 3.9 We have started to implement our vision for North Dock to become a connective creative hub for charities and have renamed and rebranded the centre to become 'Y Doc., This ha5 involved some refurbishment and redecoration work which has enabled us to receive a range of different individuals and groups including churches, youth 8roup5. Girl Guides. charity groups, various associations and family groups to stay at the ntre for individual retreats and group activities. We now have a steady stream of bookings which is providing a sustainable income. We have also rented some of our spare offices to other charities and suitable companies. Partnerships 3.10 We have continued to develop several strategic partnerships with churches and church network5 which will enable us to engage. serve and support those charities in developing their cross-cultural work. namely Manchester Chinese Christian Church. Synergy Churches, and Intercultural Churches UK. Creative Arts 3.11 Our global arts collective has held several events in Gallery 1889 in Liverpool which have been attended by many different nationalities. Niger 3.12 We continue to support a school In one of the poorest areas of the crty by pr<)viding administrative sUPPOrt and accounting. The students receive I meal a day at the school, and we help finance some children to attend.
World Horizons Limited Report of the Trustees for the year ended 31st December 2022 Burkina Faso 3.13 In Burkina we work in partnership with AEEB-'Association Evangelique Ensemble Burkina, set up as an umbrella organisation to cover the work of Projert Javelin and other ministries. The work is based on the outskirts of Ouagadougou and currently includes a nursery and a Sewing Centre, where women do a 2-year sewing course to give them an income-8enerating skill. There is also an adult literacy class a5 this is a big need in the local community, with many adults not having had the opportunity to attend school as children. We have also received funds for a much-needed new church building and building work has now started. 3.14 Project Javelin itself is a mobile outreach that responds to invitations to visit the least-reached areas of the country to share good news and encourage isolated pastors and believers. In December the team visited a camp for 25.0(K) internally displaced persons to distribute 100 sacks of rice. spaghetti. oil, soap and clothes. 3.15 This year, £23,000 was raised to purchase a new 4x4 vehide which will be used in outreach work across the region. Middle East 3.16 Our work seeks to encourage work and research into spiritual, mental, and physical needs and community health with a focus on working particularly amongst refugees. We have partnered with an NGO to create a livelihood project for 15 - 25-year-olds training in business and English skills in one of the refugee camps where individuals have missed schooling. In partnership with another charity. we run adventure, team building and confidence-building and art therapy activities for voung people from the refugee camp. Turkic Region 3.17 The devastating earthquake in February 2023 hit 10 districts of the country. leaving tens of thousand5 of dead, many more injured and millions homeless. It was a national disaster and the Turkish Church was among the first responders. World Horizons has a long history of service in Turkiye. and we have partners in several locations including churches in areas most affected by these events. The emergency delivery of essential supplies through local Turkish partners to the affected areas is vital to this coordinated response. 3.18 The WH team in Turkiye have been Working in support of local churches as they coordinate emergency and relief efforts that are now evolving into long-term support ministries in 5 locations. In addition. we are now involved in to setting up a support. coordination. and housing unit as a place of safe refugee and ministry as well as a specialist women's refuge. Generous support has come in from friends and supporters linked with WH and this has been a key input as the church continues to respond at this critical time. Those effected by the earthquake will also be offered trauma counselling. prayer support. activities for their children and therapeutic arts-based sessions. It is expected that families and whole communities may need strategic aid for at least the next two vears.
World Horizons Limited Report of the Trustees for the year ended 31st December 2022 3.19 Our team continues to run a creative arts space to aid dialogue between drfferent peoples around the topics of creativity. culture and spirituality through art and craft workshops. art exhibitions. artist panel discussions, song-writing workshops. English conversation clubs and art. therapy events for trauma sufferers despite some lockdown interruptions. 3.20 The team continues to co-lead a local church with an English-speaking congregation and a Turkish-speaking congregation. Our team works in several church ministries. The Exile Ministry Training run5 twice per year, in English and then in Turkish. It 15 a three-month program that has been drawing a diverse group of students from around the world. 3.21 A café continues to serve the local community. The cafe functions as an art gallery with an exhibit that rotates every 4 - 6 weeks. They have been developing contacts with the local art community, both at the universities and among local artists. They have a150 been renting the cafe space for churches to use for their worship meetings. The cafe has generated lots of ministry opportunities and has become a local hub forthe community. Japan 3.22 We continue to support the work of the Nirayama and Heda churthes situated in rural coastal areas where churches are few. Approximately 80 local children continue to cometo weekly'Happy Clubs., learning English and experiencing an appropriate Bible activity despite disruptions caused by Covid restrictions which have only recently been lifted. The team also contributed to the advisory committee of the Rural Japan Church Planting networ Cambodia 3.23 One of our members has begun a new role as the Cambodia CEO of Christian Broadcasting Network ICBN) and are supporting young people in Phnom Penh through a dormitory ministry. 3.24 Two of our members are in Southem Cambodia supporting local churches through teaching. preaching, and mentoring of leaders. They also teach English to local pastors who are teaching English as part of their ministries and are helping with a Christian kindergarten. 3.25 The Pl team which trained in the UK are in Phnom Penh learning language and serving with Phnom Penh House of Prayer. CMA Donation 3.26 We have hosted the CMA annual meeting at Y Doc and members of WH also attended the CMA gathering. Following gifts from the Christian Motorcyclists Association we were able to provide motorbikes to West Africa (via APT) and south America. and a fvrther motorbike was provided to West Africa in 2023 followin8 a gift from the Christian Motorryclists Association in 2022.
World Horizons Limited Report of the Trustees for the year ended 31st December 2022 Ensemble Fund 3.27 This fund was raised by Mr. Philip and Mrs. Elspeth Aston to provide training for new African Mi55ion Movements. As the Aston's resigned from the organisation the Trustees felt that the fund 1£16,622} should be transferred to the DCI Foundation (Reg Charity No. 11))12361 who would provide adequate oversight in future. This was completed in April 2022. 4. Trustees Inductlon and Tralnlng 4.1 All Trustees are familiarised with the practical work of the charity including but not limited to= The obligations of the charity- . The obligation5 of the Tru5tees- . The main documents which set out the operational framework for the charity including the Memorandum and Articles of Association: Resources and the current financial position as set out in the latest published'accounts together with periodic management accounts- Ongoing plans and objectives. 5. Risk Revlew 5.1 The management team has condurted an ongoing review of the major risks to which the Charity 15 exposed, existing policies have been further strengthened and several new one5 added. Internal risks are minimised by the implementation of the following policies.. Acceptable Use of Technologv, Anti-money Launderin& Complaints. Data Protection. Disciplinary. Equal Access. Fire Safety. Food Safety. Grievance, Health and Safety, Recruitment of Offenders. Safeguarding Children and Adults at Risk. Visa. and Whistleblowing. 5.2 In addition, Fire Safety inspections, Health and Safety and Food Hygiene Inspections apply to all locations where the charity operates. Financial risks are also minimised by the implementation of procedures for the authorisation of all transartions and projects by the team leaders. and by monthly review5. The management team also updates policie5 and procedures concerning GDPR and Covid 19 Regulations. Changes to Company and Charity laws are also regularly monitored and changes are implemented where appropriate.
World Horizons Limited Report of the Trustees for the year ended 31st December 2022 6. Reserves Policy 6.1 Cash-backed unrestricted reser4es Present just over five months of expenditure. The Trustees, therefore. do not consider these to be excessive or insufficient for unexpected contingencies, given the current cornmitments of World Horizons. We hold in reserve for emergency contingencies a sum of £lO,(IX). 7. Trustees 7.1 The Trustees who served during the period from 1st January 2022 to the date of the report were: . Graham M. Davies . Timothy R. Morris Michael Adams (resigned 24 June 2022) . Paul M. Wisdom Iresi8ned 2 April 2022) Jocelyn L. Lewis . Jane Farndon (appointed 30th November 20221 . Christopher T. Lambert (appointed 30th November 2022) 7.2 None of the Trustees receives any remuneration for their services other than reimbursement of expenses incurred. 8. Volunteers Involvement 8.1 The Trustees would like to take this opportunity to thank the many volunteer workers and supporters who have given so much of their time. skills, and income. 9. Trustees. Responsibilitles 9.1 Company law requires the Tnjstees (who are a150 Directors of the company for the purposes of company lawl to prepare financial statements for each financial year which give a true and fair view of the situation of the company and of its financial activities for that year together with its assets and liabilities at the end of the year and adequately distinguish any material special trust or other restricted funds of the company. In preparing those financial statements, the Trust are required to: al selert Suitable accounting policies and then appty them consistently: bl make judgements and estimates that are reasonable and prudent:
World Horizons Limited Report of the Trustees for the year ended 31st December 2022 cl state whether the policies adopted are following the appropriate SORP on Accounting by Charities and the Accounting Regulations and with applicable accounting standards subject to any material departures disclosed and explained in the financial statements- dl and prepare the financial statements on a going concern basis unless it is inappropriate to assume that the company will continue in its activities. 9.2 The Trustees are responsible for keeping proper accounting record5 which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006 and Statements of Recommended Practice and the regulations made under sertson 130 of the Charities Act 2011. They are also responsible for safeguarding the a55et5 of the company and hence for taking reasonable steps for the prevention and detection of fraud and irregularitte5. 10. Management 10.1 Each of the divisions of activity stemming from the UK, Set out in this review. is overseen by the UK Leadership Team who are accountable to the Board of Trustees via the UK Field Leader. 10.2 The majority of UK team members, including those seconded overseas. are treated by the Inland Revenue as self-employed. each receiving support for their ministries from individuals, churches etc. Those few who are employed are entitled to all statutory employment rights. The company relies mainly on donations to finance its overhead expenses. 11. Strategic Intent 11.1 We will continue the progression in securing the financial base of the organisation by seeking funds for all new areas of activity as well as negotiating for improved contracts and service level agreement5. IZ. Financial Review 12.1 The Trustees considered the financial performance for the period was satisfactory. 12.2 The operational deficit for the year was £56.09012021- £17.478). 12.3 This deficit induded a reduction in general unrestritted funds of £5,64612021- £13.9411, in capital fund5 of £11.32212021- 11,7171, and in restricted funds of £39.122 i.e.. restricted funds used in the period but received in previous periods (2021- increase of £8,180). 12.4 This has resulted in reductions in unrestricted funds to £54,672 (December 2021- £60.318) nd in total funds to £561,807 (December 2021- £617,897). 10
World Horizons Limited Report of the Tru5tee5 for the year ended 31st December 2022 12.5 The results for the period are set out in the Statement of Financial Artivities. The Balance Sheet is also presented. 12.6 All funds generated during the period have been applied to furtherthe objerts of the companv as stated in point l above. The funds carried forward at the balance sheet date are considered sufficient to meet all existing commitments of the company and to fund future developments. 13. Team Members 13.1 Those who wish to become team Members Within the World Horizons movement must complete a satisfactory period of induction via our 'Onboarding' process and satisfy local leadership that they have adequate financial support forthe work that they will be doing. 14. Independent Examination 14.1 Colin Dalton is the Independent Examiner of the company. A resolution recommending his reappointment will be put to the members at the Annual General Meetin8. y Order of the Board G. M. Davies Trustee Date: 12th June 2023
World Horizons Limited Report of the Independent Examiner for the year ended 31st December 2022 I report to the charity trustees on my examination of the accounts of World Horizons Limited for.the vear ended 31 December 2022 . Responsibilities and basis of report As the charitws trustees of World Horizons Lrmited (and also its directors for the purposes of company lawl, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act-l. 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 chariVs accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 AcY'}. In carrying out my examination. I have followed the Directions given by the Charity Commission (under section 145151(b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe". accounting records were not kept in respect of the company as required by Section 386 of the 2006 Act; or the accounts do not accord with those records- or 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 matter considered as part of an independent examination: or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prartice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Fir)ancial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021). 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 understandin8 of the accounts to be reached. 12
World Horizons Limited Report of the Independent Examiner for the year ended 31st December 2022 Colin Dalton FCA Dalton Pardoe Limited Chartered Accountants 794 High Street Kingswinford DY6 8BQ Date". & June 2023 13
Worfd Horizons Limited Statement of Financial Artivities for the year ended 31st December 2022 Unrestrirted and capitsl funds Re5tritted fvnds Note Totsl Total 21)22 2022 2022 2021 Incorne Donations 17,798 62.302 80,1(M) 107,810 Investment income 1.405 1.405 1,286 Income from charitable artivities Charitable artivities Team member support 65.410 66.810 45,940 63,182 60,231 45.940 Totol intome 84.613 109.642 194,255 232,509 Expènditure Charitable activities Team member support 104,257 IW.148 45.940 204.405 45.940 189.756 60,231 Total expenditure 104,257 146,088 250,345 249.987 Net lexpenditure)/income Surplus on revaluation of leasehold property Transfers between reserves 119.6441 136.446) 156,0901 117,4781 70.01)) 13115 2.676 12.676} Net movement in fvnds 116.9681 139,1221 156,0901 52,522 Reconuliation of Funds Total funds brought forward 438.722 179.175 617.897 565.375 Total funds carried forward 421.754 140,053 561,807 617,897 The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. This SOFA includes an income and expendtture account Èn accordance with the requirements of the Companies Act 2006. 14
Worfd Horizons limited Balance Sheet As of 31st December 2022 Note 2022 2021 Fixed assets Tangible assets 367,085 378.407 Current assets Debtors Cash at bank and in hand io li 10,057 193.428 8,540 248.114 Total current assets 203.485 256,654 Creditors: falling due within one year 12 (8.7631 {17.1641 Net current assets 194.722 239,4 Net assets 561.807 617,897 The funds ofthe tharity Restrirted funds Unrestricted and desi8nated funds Capital funds Revaluation 13 14 140.053 54,672 237,082 130.1)XI 179,17S 60,318 248.404 130,000 Totsl charity fvnd5 561,807 617.897 The trustees have taken advantage of the Companies Art 2006 in not having these accounts audited under section 477111. No members have required the company to obtain an audit of its accounts for the period in question in accordan with sertion 476. The trustees acknowledge their responsibilitiesfor ensuring that the tompany keeps accounting records which comply with s386 and $387 olthe Companies Act 2[ and sertioD138 of the Charitles Act 2011. These accounts have been prepared in accordance with the provssions in part 15 of the Companies Art 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2CK)6 and are for circulation to the members of the company. The note5 at page5 17 to 29 fomi part of these financial ststements. 15
World Horizons Limited Balance Sheet As of 31st December 2022 Signed and approved on the behalf of the 8oard on 12th June 2023 Company no: 01680675 G. M. Davies Trustee J. L. Lewis Trustee 16
World Horizons Limited Notes to the Financial Statements for the year ended 31st December 2022 l. Accountin8 Polkles The principal accounting policies adopted ID the preparation of.the financial statements are os follows: I {?) Ba515 of preparatlon Basls of a¢coufftting The charitable company constitutes a public benefit entity as defined by FR5102. The financial statements have been prepared in accordance with AccountiDg and Rewrting by Charities= Statement of Recommended practi ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard IFRS1021 published on 16 July 2014- Charities SORP {FRS102). the Finantial Reporting Standard {FRS1021, the Charities Act 2011. the Companies Act 2(K16 and UK Generally Accepted Practice as it applies from l January 2015. The financial statements have been prepared on a going concern basis under the historicèl costconvention mOdifd to include certain itemsatfair value. The financial statements are prepared In sterling which 15 the funrtional cUrreY of the charity. Change5 to previtxts ac¢ounts No changes have been made to the financial statements for previous years unless Otherwise stated within the notes as a prior year adjustment. (b) Preparation of the accounts on a Eoing concern basis The trustees consider that the company is a going contern. 1¢) Income re¢o8nbtion policie5 Items of income are recognised and included in the accounts when all the followiTrg criteria are met- the charity has an entitlement to the funds- any performance conditions attached to the items of income have been met or are fully within the control of the charity- there is Sufficient certainty that reipt of the incorne is considered probable: and the amount can be measured reliably. Where incorning resources have related expenditure (as with fundraising or contrart income) the incoming resources and related expenditure are reported gross in the SOF (d) Interest receivable Interest on funds held on deF51t is included when reteivable and the amount can be measured reliably by the charity; thi5 is normally upon notification of the interest paid or payable by the bank. (e) Fund a¢countln8 Unrestricted funds are available to spend on activitie5 that fvrther any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charitvs work. The Capital fund is a non-monetary fund. An integral part of the Charitse artivity of World Horizons Limited is to act as a clearinghouse for donations to related oveTseas projects. with a550Ciated fundraising and publicity, and administrative costs. These are the restricted funds. The trustees ensure that all monies are applied in accordance with the compan5 Memorandum of Association. 17
World Horizons Limited Notes to the Financial Statements for the year ended 31st Dember 2022 In Expendilure and irTec¢>verable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Irretoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Igl All¢xation of support costs All support costs have been divided between direct charitable expenditure and other expenditure. Within these, there is a further analysis of functional support. fundraising publicity. and governance costs. The costs incurred by any particular activity Iprojett, team. or administrative department) have been allocated according to the nature, charitable or otheThvise, of that activity. (h) Operating lease5 Rentals paid under operating leases are charged to income as incurred: lil Governance costs Include costs of the preparation and examination of statutory accounts. the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Ul Tangible fixed assets Tangible fixed assets are stated at cost. These are capitalised.if they can be. used for more than one year and cost at least £l,LXJO. They are valued at COSt or at a reasonable value on receipt. The leasehold property including improvements has been revèlued and is nomally revalued every three years. Depreciation is provided on all tangible assets at rates calculated to write off the cost or valuation of each asset evenly over its experted useful life as follows: Leasehold property and improvements= Site fencing.. Motor vehicles.. Fixtures. fittings. and equipment: over period to 2071 over period to 2036 over 5 years over 3, 5 and 10 years The leasehold property was purchased in 1988 and the lease expires in 2071. (k) Creditors and provislons Creditors and provisions are recognised at their settlement amount where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third-party and the amount due to settle the obligation can be measured or estimated reliablv. (l) Volunteer help No amount is included in the financial ststements for volunteer time in line with the 50RP IFRS1021. Further detail is given in the trustees. annual rewrt. 18
World Horizons Limited Notes to the Financial Statements for the year ended 31st December 2022 2. Incorne from donations Donations have been received during the period forthe following teams. projects. and purposes: Team Contittrl Totsl Team conttI Totsl 2021 Donations ons Dofftations on5 Internalk•n•l fvnds Team Accounts International Office North Africa Team CMTTeam Middle East Team Business as Mission East & West Afrtca Teams South America Tear Other Teams 4.0 10988 477 15.078 477 236 9.755 9,991 l.CQ6 32 825 150 2.058 712 238 782 550 lJ7S 1.150 2.109 530 21.917 1.160 669 1,254 1.087 418 51 230 14.462 625 1.611 293 14,113 918 15,724 7,455 Other Ministries and Teams Japan Venezuela- V2020 2.184 7.368 2.184 7,368 Emerging Misston Movements West Africa Ministries Burkina Faso Niger West Africa General Asia Ministries Camtodia Nepal Europe Ministries North Africa Ministries Other 382 382 15,388 3.011 15388 3A)11 13,526 11.655 799 13,526 11.733 799 78 15.876 15B76 17.175 2,350 1.176 17.175 2,350 1,176 L176 1.176 362 4,024 61.297 4,024 61,375 36,663 36,663 78 UK Funds Buildirffd Project Christian Motorcycle A55¢xiation Latin Ministries Other Funds 750 750 750 3.211 750 3,211 780 585 387 3.722 585 387 240 4.981 240 4,981 3.722 Totsl ReStrted Funds 47.840 14.462 61302 67,889 14.191 82,080 19
World Horizons Limited Notes to the Financial Statements for the year ended 31st December 2022 2. Income from donations IcoDt.> Team Contrfbutl Team Contrlbutl Totsl 2022 Total 2021 Oonat10Tr5 on5 Donallon5 ofts General UK Funds Teams Pioneer Training PR Team 12(Kil 12(X)I 1.763 1.563 2.850 2.850 2,110 4,960 1,763 1.763 2.110 2,110 I2) 2,850 Support Ministries General Funds Membercare & HR Fund5 3.372 138 3510 7.032 2.256 9.288 10,404 2.394 12.798 6.599 120 6.719 6,455 2,733 13,054 2,853 15,907 Llanelli Hub Llanelli Hub Operations li li 731 731 731 li li 731 Regional Teams Other UK Funds 1.926 3.426 2.075 526 1,531 526 Total General Funds 4A21 12.977 17.798 .170 13.560 25,730 Total 52.661 27.439 80.1(x) 80.059 27.751 107.810 20
World Horizons Limited Notes to the Financial Statements for the year ended 31st December 2022 3. Income fr¢Jrn dwritsble artivities Total GeneAI Funds Support u•11 Teams Ministiios lb UK Funds Funds- Internatknnal Total 2022 Premises IrKorne 39A60 39 ConfererKe 49) 77 8367 IIA75 3.549 3.159 66.810 TraIr1 Inco Travel & MedKal InsurarKe 11175 IlJ75 3.549 1.759 65.410 Sundry Income 55 58 I175 625 41506 11.404 IAC 2021 Premises Income ConfererKè lrfome Trainin8 IornE Travel & MedKal In5ur4e Sundry Income 21m6 21.026 21,026 9.370 15.440 13,604 3,742 63,182 475 15.440 13,E4)4 13,423 577 22216 22095 779 16219 15861 14051 1,782 2.257 .925 4.Team member support Most team members are treated as self*mployed by HM Revenue and Customs. They re1Ve their support either dirertly or thro& World Horizons Lirnited as follows: 2021 Gift tax reclaimed L)onations 771 1.429 58.802 45.169 45.940 60.231 21
World Horizons Limlted Notes to the Financlal Statements for the year ended 31st Oecember 2022 Expen(rrtureon charitalAeatthrfO IntToam IntOth¢r Tearns Ful FyThd5 Stiff C0515 Training PrOthOtitsn Prfm15E5C0515 E4wpthent DeprlatIo&rtraIvdI5lThts 5.769 13377 116 25.963 3iJS1 2331 t722 35ts74 1331 2.4)8 .112 1331 Oflice indA&ni SubscThpti0Tr5 Pr4fe5Sional Fees ConfrenceExpwA Cateti 375 1912 1381 6323 1233 2.923 905 329 1212 20.569 3.469 17.[ 44.018 2.497 1213 l.Y13 2.923 9.470 335 912 L112 IU28 74$ 8lY 1.741 Travel &IAthI In5uraMe 17JJ95 44W8 26$ |Dtsrnational-VK OthÈrOpÈiationalCosts
5mQ 4.117 265 la664 17JQJ 4415Z IIqi4B 11.jzz
Wodd Horizons limited Noies to the finantial Statements forthe year ended 3ts1 0mber 2022 ENpenditur?oTrdwwitablexbfvl¢rtl To 5tèff Costs 3A13 3%U IIW6 20.924 ProTht Premisescosls EqL¥prnEnt OÈpreclatIon&reteda¢Lolrnr Genprnl ¢)Hlce b5criptjQnS PrDfessknnal Ftts CDrfprer¢e EypenSeS 50 a2,613 4.731 170 4261 4,731 IL717 L765 5.119 IB45 144 i¥ii$ Gits Trbvel 5>) 518 761 425 14423 13.423 46J78 2Q.380 1.426 lrternatlorp31-O¥oneaslr•r JJ*yJ 40A52 20.a57 J78 OthÈrOppfdtv)n41 C0515 310 571 uio 116 116 .6•1 n7
World Horizons Limited Notes to the Financial Statements for the year ended 31st December 2022 6. Governance costs 2022 2021 Independent Examiner's fees 2,520 2.670 2,520 2,670 7. Net Income for the perlod 2022 2021 This 15 Stated after chargYng= Depreciation Operating leases- rent Operating lease5- equipment Independent Examination provision 11,322 9,850 11.717 9.850 384 2.670 2.520 8. Analysis of staff costs 2022 2021 Salaries Pension Contributions Fees Payable 17,072 683 7,808 25.563 3.667 146 8,073 11,886 No employee of the charity received emoluments of more than £60.00012021: none) During the year. the charity had two part-time employees12021- one). 24
Worfd Horizons Limited Notes to the Financial Statements for the year ended 31st December 2022 9. Tangible fued assets Leaseho including improvements Motor vehicles Totsl ffttings & equipment Costlrevaluatlon At 1st January 2022 Disposals At 31st December 2022 479.194 62.989 5.7CK) S4783 479.194 62.989 5,7 547,883 Oepreciatioii At 1st January 2022 On disposals Charge At 31st tiecember 2022 104.236 59.540 169,476 8,140 112376 3.182 62,722 11,322 180,798 5.7(Kl Net book values At 31st December 2022 366018 267 367,085 At 31st December 2021 374,958 3.449 378,407 The long leasehold building including the improvements has moved onto a scheme whereby they are periodically revalued. The valuation included above was based on a valuation by Paul Beaton B.Sc. (Hons) MRICS of Astleys Chartered Sundeyors. Raglan House. Charter Court. Phoenix Way. Enterprise Park, Swansea. SA7 9DD. He gave an open market value of £380,CNJI on 8 June 2022. The corresponding insurance valuation was £2,270,LKK). All assets are held for direct tharitable purposes. 10. Debtors 2022 2021 Other debtors Prepayments and accrued income Gift Aid tax repayment due 4.369 3,581 590 8.540 4.679 494 10.057 25
World Horizons Limited Notes to the Financial Statements for the year ended 31st December 2022 11. Cash at bank and in hand 2022 2021 Bank accounts Cash in hand 193.234 194 247,955 159 193.428 248,114 12. Creditors: amounts falling due wlthin one yeai 2022 2021 Accruals Other creditors Deferred income 4.284 3.392 1.087 4,131 4,633 8,400 8.763 17.164 26
World Horizons Limited Notes to the Financial Statements for the year ended 31st Defflber 2022 13. Restricted fvnds At Istjan In¢ome E4)endIre Transfws At 31st Dec 2022 International Funds Team Accounts International Ol¢e North Afri¢a Team WH KidzTeam CMT Team 45.490 6.618 16.478 477 137,4841 17031 24A84 6.392 898 2.262 2,631 420 1,403 2328 833 45,251 L776 1124 5.610 1.435 754 Middle East Team Business as Missb)n East & West Africa Teams So(rth America Team5 Other Team5 712 1205} {29651 11,182) 1535) 1375 2.IC8 530 23317 303 65,(lJ8 43.074 Olher Mlnlstrle5 and Team5 Japan Venezuela - V2020 Emerging Mission Movements Wesl Africa Ministries Asia Ministr*s 33.420 23877 16.240 11.197 33.420 24.285 382 18399 15076 1.176 116,6221 116.8(Kll {15,8761 {2,6461 12,796 Europe Ministries North Africa Ministrtes Other Ministries 38 3.145 3.205 4,092 77036 362 790 92327 36.663 151.9441 790 UK Funds Building Proiect Christian Motorcycle Association Expeditions Latin mintrieS Other Funds 594 3358 3341 13344 2.104 13,2541 {3341) 585 11.3621 15141 (5,1301 1.770 21M) 387 3.722 1125) 13.466) 1518 16,966 Team Member Support 45.940 145y)) Total ReAricled fvnds 179.175 9,641 (146.0881 12,676) 140.053 27
World Horizons Limited Notes to the Financial Statements for the year ended 31st December 2022 14. Unreslrirted and designated funds At Istjaft Income Expendltu 2022 Transfe At31st Dec 2022 General UK Funds Teams Pioneer Initiative PR Team 724 11.675 1.763 13.438 111.6091 110551 113.6641 4.169 4.893 11,9391 12.7291 1,938 1.938 Support Ministries General Funds 20.462 11.266 114.3641 12.4441 7&Jl 117.5(Ql 22.004 6.866 Memberc3 Fund5 Other FunLts 696 12.5761 29.486 14,828 28.870 Uanelli Hub 6,383 41,517 146,4521 Regional Teams 3,181 3,426 13,4681 3.341 6.480 Other UK Funds Conferences & Weekends Insurance Funds Training Development Wildstep 777 3527 17,8771 13.527) 14391 4.693 1.682 6.375 4,254 1,682 5,936 11.4W4 111.8431 TotslGeneTrl Funds 50.318 H613 {91935) 2.676 44.672 DtsiÈnat•d Funds Emergency Fund Total Designated Funds io.c(K) io.(x lo,0 io,( Total 60.318 84.613 192,9351 1676 54,672 The unre5tritted funds of the charity include the Emergency Fund which ha5 been set aside by the trustees as a designated fund to aid team members in emergencies. 28
World Horizons Limited Notes to the Financial Statements for the year ended 315t December 2022 15. Capllal fvnds At 1st Jan Income Expenditure Revaluation 2022 At 31st Dec 2022 Capital Fund Revaluation 248.404 130.0(KI 378.404 (11,322) 237,082 130,CKIO 367.1)8Z 111,322) 16. Operating leases and other financial commltments Financial cornmitments under non-cancellable operating leases will result in the followir payments falling due: 2021 Land and building Expiring after five years 950 Equlpment le45e: Expiring between one arnl two years Expirlng between two and five years 17. Transartrons wlth trurtees and connected persons The trustees were not paid or received any other benefits from employment with the charity in the period. Small amounts were reimbursed to trustees and connected persons for expenses such as travel costs and reimbursements. No trustee reIved payment for professional.or other services supplied to the charity. 29