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2023-12-31-accounts

World Horizons Limited

Financial Statements

for the year ended 31st December 2023

Colin Dalton FCA

Chartered Accountant & Independent Examiner

Kingswinford

World Horizons Limited

Contents

Page
Company Information 2
Report of the Trustees 4 – 11
Report of the Independent Examiner 12 - 13
Statement of Financial Activities 14
Balance Sheet 15 - 16
Notes to the Financial Statements 17 - 29

1

World Horizons Limited

Company Information

Board of Trustees

G. M. Davies T. R. Morris J. L. Lewis (resigned 23[rd] June 2023) J. Farndon C. T Lambert

Company Secretary

G. M. Davies

Registered Office Centre for the Nations and Administrative Office North Dock Llanelli Carmarthenshire SA15 2LF Independent Examiner Colin Dalton FCA Chartered Accountant Dalton Pardoe Limited 794 High Street Kingswinford DY6 8BQ Bankers: Barclays Bank plc De Montfort Street Leicester LE87 2BB Company Number: 01680675 Registered Charity: 513524

2

World Horizons Limited

Report of the Trustees for the year ended 31st December 2023

The Trustees present their report and the independently examined financial statements for the year ended 31st December 2023. World Horizons Limited is a company limited by guarantee, not having a share capital, with charitable status.

1. Overview of Charitable Objects

1.1 The worldwide charitable objects for World Horizons are as follows:

2. Means of attaining Charitable Objects

2.1 The company has to date addressed its activities to the above objectives. The main activities of the company in the year have been:

3

World Horizons Limited

Report of the Trustees for the year ended 31st December 2023

training in assorted topics and methods, and welcoming and helping overseas visitors and refugees in the UK;

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 operated through our teams in Swansea, Liverpool, Manchester, Derby, 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, Performance and Future Plans

Review of the Period

3.1 Our work has focused on four key strategic areas: wellbeing, strengthening, welcoming, and transforming.

Events

3.2 In conjunction with our French and Spanish teams, we have continued to develop plans for mini-European festivals.

3.3 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 needs.

Work with Refugees

3.4 Our team in Liverpool 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 partnered with Upbeat Communities, they also provided support to those arriving in the UK as part of the Afghan resettlement programme. Our teams in Swansea, Luton and London continue to assist many refugees and overseas students using social events, relationship building and outreach efforts in conjunction with local churches in those cities.

4

World Horizons Limited

Report of the Trustees for the year ended 31st December 2023

3.5 Our regional team based in Derby ended in August 2023 as the team members moved on to other locations. The partnership with Bridge 2 in Liverpool is being wound down. World Horizons workers were offered a choice of continuing to work there under a secondment arrangement. However, they have decided to join Bridge 2 instead. This transition process will be completed by May 2024.

Support Ministries

3.6 Our support ministries, including personnel, finance, visas, HR, communications, and member care continued to provide much-needed support for our UK and overseas workers. We currently have 46 active members based in the UK and 50 in overseas locations.

Llanelli Hub

3.7 We have continued 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 has involved some refurbishment and redecoration work which has enabled us to receive a range of different individuals and groups including churches, youth groups, Girl Guides, charity groups, various associations, and family groups to stay at the centre for individual retreats and group activities. We now have a steady stream of bookings that provides a sustainable income. We have also rented some of our spare offices to other charities and suitable companies. Y Doc hosted a large group of Filipino workers for three months at the end of the year. Work on upgrading the Creative Space area will be a major emphasis in the first half of 2024. A large mural was painted at one end of the hall by one of our team who is an accomplished artist.

Partnerships

3.8 We have continued to develop several strategic partnerships with churches and church networks 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

3.9 Our global arts collective “Woven” has held several events in Gallery 1889 in Liverpool which have been attended by many different nationalities and continues to meet online each month.

Niger

3.10 We continue to support a school in one of the poorest areas of the city by providing administrative support and accounting. The students receive 1 meal a day at the school, and we help finance some children to attend.

5

World Horizons Limited

Report of the Trustees for the year ended 31st December 2023

Burkina Faso

3.11 In Burkina we work in partnership with AEEB - 'Association Evangelique Ensemble Burkina' set up as an umbrella organisation to cover the work of Project 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-generating skill. We raised funds for 28 treadle sewing machines – one for each of the 20 Sewing School graduates in June 2023 and 4 for each of the 2 classrooms for students to use to learn on.

3.12 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. The team also gather different churches together to pray for Burkina and try to share practical help with internally displaced people that they encounter in many areas. These are fleeing jihadist violence in other areas of the country.

3.13 Donations received to purchase a new 4x4 vehicle for use in outreach work across the region were sent out to Burkina and a 7-seater Toyota Landcruiser was bought for this purpose. It has been a reliable vehicle and has taken the Project Javelin team to many areas of the country.

Middle East

3.14 Our work seeks to encourage work and research into spiritual, mental, and physical needs and community health focusing 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 young people from the refugee camp.

North Africa

3.15 An earthquake hit the Marrakech and Atlas Mountains region in September 2023. While the death toll was calculated to be approximately 2,200, the physical devastation in many of the small towns and villages was huge with hardly any building left unaffected. Most of these communities were made homeless and thousands are now living in tents. With our long presence in the area our workers were able to channel immediate food, water, and clothing assistance, liaise with relief agencies in the immediate aftermath and help assess needs. In the months that have followed we partnered with a specialist agency that provided temporary homes for over 500 families. We will continue to help people with these needs as opportunity presents itself.

Turkic Region

3.16 The devastating earthquake in February 2023 hit 10 districts of the country, leaving tens of thousands 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

6

World Horizons Limited

Report of the Trustees for the year ended 31st December 2023

Türkiye, 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.

3.17 The team in Türkiye 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 our organisation 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 year.

3.18 Our team continues to run a creative arts space to aid dialogue between different peoples around 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.

3.19 The team continues to co-lead a local church network with an English-speaking congregation, Turkish-speaking congregations, and an Arabic-speaking congregation. Our team works in several specific church-based ministries.

3.20 The Exile Ministry Training runs twice per year, in English and then in Turkish. It is a threemonth 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 also 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 for the community.

Japan

3.22 We continue to support the work of the Nirayama and Heda churches situated in rural coastal areas where churches are few. Approximately 80 local children continue to come to weekly ‘Happy Clubs’, learning English and experiencing an appropriate Bible activity. The team also contributed to the advisory committee of the Rural Japan Church Planting network.

Cambodia

3.23 One of our members is the Cambodia CEO of the Christian Broadcasting Network (CBN). His wife teaches English and is mentoring young women. Together they also support the leaders of a small house church.

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World Horizons Limited

Report of the Trustees for the year ended 31st December 2023

3.24 Two of our members are in Southern 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 PI team which trained in the UK, is now based in Phnom Penh learning the language and serving with Phnom Penh House of Prayer as they prepare to move to the coastal city of Sihanoukville.

CMA Donation

3.26 We hosted the CMA annual meeting at Y Doc and team members also attended the CMA gathering. Following gifts from the Christian Motorcyclists Association we provided motorbikes to India and North Africa using the gift donated in 2023.

4. Trustees Induction and Training

4.1 All Trustees are familiarised with the practical work of the charity including but not limited to:

· The obligations of the charity;

· The obligations of the Trustees;

· 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 Review

5.1 The management team has conducted an ongoing review of the major risks to which the Charity is exposed, and several new policies have been added. Internal risks are minimised by the implementation of the following policies: Acceptable Use of Technology, Anti-Money Laundering, Complaints, Data Protection, Disciplinary, Environmental, Equal Access, Fire Safety, Food Safety, Grievance, Health and Safety, Membership, Recruitment of Offenders, Safeguarding Children and Adults at Risk, Secure Handling and Storage of Data, 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 transactions and projects by the team leaders, and by monthly reviews. The management team also updates policies and procedures concerning GDPR.

8

World Horizons Limited

Report of the Trustees for the year ended 31st December 2023

Changes to Company and Charity laws are also regularly monitored and changes are implemented where appropriate.

6. Reserves Policy

6.1 Cash-backed unrestricted reserves represent between seven and eight months of expenditure. The Trustees, therefore, do not consider these to be excessive or insufficient for unexpected contingencies, given the current commitments of World Horizons. We hold in reserve for emergency contingencies a sum of £10,000.

7. Trustees

7.1 The Trustees who served during the period from 1st January 2023 to the date of the report were:

· Graham M. Davies

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’ Responsibilities

9.1 Company law requires the Trustees (who are also Directors of the company for the purposes of company law) 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 Trustees are required to:

a) select suitable accounting policies and then apply them consistently;

b) make judgements and estimates that are reasonable and prudent;

c) 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;

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World Horizons Limited

Report of the Trustees for the year ended 31st December 2023

d) 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 records 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 section 130 of the Charities Act 2011. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and irregularities.

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 agreements.

12. Financial Review

12.1 The Trustees considered the financial performance for the period was satisfactory.

12.2 The operational surplus for the year was £30,162 (2022 – deficit £56,090).

12.3 This surplus included an increase in general unrestricted funds of £34,850 (2022 – reduction £5,646), in restricted funds of £3,719 (2022 – reduction £39,122), and a reduction in capital funds of £8,407 (2022 – 11,322).

12.4 This has resulted in increases in unrestricted funds to £89,522 (December 2022 – reduction £54,672) and in total funds to £591,969 (December 2022 – £561,807).

12.5 The results for the period are set out in the Statement of Financial Activities. The Balance Sheet is also presented.

10

World Horizons Limited

Report of the Trustees for the year ended 31st December 2023

12.6 All funds generated during the period have been applied to further the objects of the company as stated in point 1 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 for the 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 Meeting.

By Order of the Board

G. M. Davies

Trustee

Date: 2024

11

World Horizons Limited

Report of the Independent Examiner for the year ended 31st December 2023

I report to the charity trustees on my examination of the accounts of World Horizons Limited for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity’s trustees of World Horizons Limited (and 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

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:

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 to enable a proper understanding of the accounts to be reached.

12

World Horizons Limited

Report of the Independent Examiner for the year ended 31st December 2023

Colin Dalton FCA

Dalton Pardoe Limited Chartered Accountants 794 High Street Kingswinford DY6 8BQ

Date: 2024

13

World Horizons Limited

Statement of Financial Activities for the year ended 31st December 2023

Note
Income
Donations
2
Investment income
Income from charitable activities
Charitable activities
3
Team member support
4
Total income
Expenditure
Charitable activities
5
Team member support
4
Total expenditure
Net (expenditure)/income
Transfers between reserves
13/15
Net movement in funds
Reconciliation of Funds
Total funds brought forward
Total funds carried forward		 Unrestricted
and capital
funds
2023
£
13,827
4,048
133,800
-
151,675
122,858
-
122,858
28,817
(2,374)
26,443
421,754
448,197		 Restricted
funds
2023
£
168,296
-
3,623
40,410
212,329
170,574
40,410
210,984
1,345
2,374
3,719
140,053
143,772		 Total
Total
2023
2022
£
£
182,123
80,100
4,048
1,405
137,423
66,810
40,410
45,940
364,004
194,255
293,432
204,405
40,410
45,940
333,842
250,345
30,162
(56,090)
-
-
30,162
(56,090)
561,807
617,897
591,969
561,807

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 expenditure account in accordance with the requirements of the Companies Act 2006.

14

World Horizons Limited

Balance Sheet As of 31st December 2023

Note
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
11
Total current assets
Creditors: falling due within one year
12
Net current assets
Net assets
The funds of the charity
Restricted funds
13
Unrestricted and designated funds
14
Capital funds
15
Revaluation
15
Total charity funds		 2023
£
358,678
60,547
186,109
246,656
(13,365)
233,291
591,969
143,772
89,522
228,675
130,000
591,969		 2022
£
367,085
10,057
193,428
203,485
(8,763)
194,722
561,807
140,053
54,672
237,082
130,000
561,807		 2022
£
367,085
10,057
193,428
203,485
(8,763)
194,722
561,807
140,053
54,672
237,082
130,000
561,807
246,656
(13,365)		 203,485
(8,763)

561,807
140,053
54,672
237,082
130,000
561,807

The trustees have taken advantage of the Companies Act 2006 in not having these accounts audited under section 477(1). No members have required the company to obtain an audit of its accounts for the period in question in accordance with section 476.

The trustees acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s386 and s387 of the Companies Act 2006 and section138 of the Charities Act 2011.

These accounts have been prepared in accordance with the provisions in part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to the members of the company.

The notes at pages 17 to 29 form part of these financial statements.

15

World Horizons Limited

Balance Sheet As of 31st December 2023

Signed and approved on the behalf of the Board on 2024

Company no: 01680675

G. M. Davies Trustee

16

World Horizons Limited

Notes to the Financial Statements

for the year ended 31st December 2023

1. Accounting Policies

The principal accounting policies adopted in the preparation of the financial statements are as follows:

(a) Basis of preparation

Basis of accounting

The charitable company constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS102) published on 16[th] July 2014 – Charities SORP (FRS102), the Financial Reporting Standard (FRS102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1[st] January 2015. The financial statements have been prepared on a going concern basis under the historical cost convention modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

Changes to previous accounts

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 going concern basis

The trustees consider that the company is a going concern.

(c) Income recognition policies

Items of income are recognised and included in the accounts when all the following criteria are met:

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.

(d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

(e) Fund accounting

Unrestricted funds are available to spend on activities that further 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 charity’s work. The Capital fund is a non-monetary fund.

An integral part of the charitable activity of World Horizons Limited is to act as a clearinghouse for donations to related overseas projects, with associated fundraising and publicity, and administrative costs. These are the restricted funds. The trustees ensure that all monies are applied in accordance with the company’s Memorandum of Association.

17

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

(f) Expenditure and irrecoverable 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. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

(g) Allocation 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 (project, team, or administrative department) have been allocated according to the nature, charitable or otherwise, of that activity.

(h) Operating leases

Rentals paid under operating leases are charged to income as incurred.

(i) 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.

(j) 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 £1,000. They are valued at cost or at a reasonable value on receipt.

The leasehold property including improvements has been revalued and is normally 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 expected useful life as follows:

Leasehold property and improvements: over period to 2071 Site fencing: over period to 2036 Motor vehicles: over 5 years Fixtures, fittings, and equipment: over 3, 5 and 10 years

The leasehold property was purchased in 1988 and the lease expires in 2071.

(k) Creditors and provisions

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 reliably.

(l) Volunteer help

No amount is included in the financial statements for volunteer time in line with the SORP (FRS102). Further detail is given in the trustees’ annual report.

18

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

2. Income from donations

Donations have been received during the period for the following teams, projects, and purposes:

Team Team
Contributi Total Contributi Total
Donations ons 2023 Donations ons 2022
£ £ £ £ £ £
International Funds
Team Accounts
International Office 22,850 7,509 30,360 4,090 10,988 15,078
North Africa Team - 261 261 - 477 477
CMT Team - 425 425 - 486 486
Middle East Team 177 601 778 32 680 712
Business as Mission 479 145 624 825 550 1,375
East & West Africa Teams - 920 920 150 1,000 1,150
South America Teams 89 49 137 2,058 51 2,109
Other Teams - 120 120 300 230 530
23,595 10,030 33,625 7,455 14,462 21,917
Other Ministries and Teams
Venezuela - V2020 600 - 600 408 - 408
West Africa Ministries
Burkina Faso 38,758 - 38,758 15,388 - 15,388
Niger 4,513 - 4,513 3,011 - 3,011
Asia Ministries
Cambodia 15,000 - 15,000 15,876 - 15,876
Europe Ministries 500 - 500 1,176 - 1,176
North Africa Ministries 60 - 60 60 - 60
Relief Ministries
Turkey Earthquake Relief 28,745 - 28,745 - - -
North Africa Earthquake Relief 42,185 - 42,185 - - -
Other Relief 884 - 884 - - -
Other 286 - 286 744 - 744
131,531 - 131,531 36,663 - 36,663
UK Funds
Christian Motorcycle Association 2,900 - 2,900 2,000 - 2,000
Other Funds 240 - 240 1,722 - 1,722
3,140 - 3,140 3,722 - 3,722
Total Restricted Funds 158,266 10,030 168,296 47,840 14,462 62,302

19

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

2. Income from donations (cont.)

General UK Funds
Teams
Pioneer Training
PR Team
Support Ministries
General Funds
Membercare Funds
Llanelli Hub
Regional Teams
Total General Funds
Total		 Donations
Team
Contributi
ons
Total
2023
Donations
Team
Contributi
ons
Total
2022
£
£
£
£
£
£
-
-
-
( 200)
-

( 200)
-
-
-
-
1,763
1,763
-
-
-
(200)
1,763
1,563
2,904
8,485
11,389
3,372
7,032
10,404
10
672
682
138
2,256
2,394
2,914
9,157
12,071
3,510
9,288
12,798
-
-
-
11
-
11
875
881
1,756
1,500

1,926
3,426
3,789
10,038
13,827
4,821
12,977
17,798
162,055
20,068
182,123
52,661
27,439
80,100

3. Income from charitable activities

2023
Premises Income
Conference Income
Sundry Income
2022
Premises Income
Conference Income
Training Income
Travel & Medical Insurance
Sundry Income		 Teams
Support
Ministries
Llanelli
Hub
Other
UK
Funds
Total
General
Funds
Restricted
Funds -
International
Total
£
£
£
£
£
£
£
-
-
133,393
-
133,393
-
133,393
-
-
-
-
-
242
242
104
268
35
-
407
3,381
3,788
104
268
133,428
-
133,800
3,623
137,423
£
£
£
£
£
£
£
-
-
39,860
-
39,860
-
39,860
-
490
-
7,877
8,367
-
8,367
11,875
-
-
-
11,875
-
11,875
-
80
-
3,469
3,549
-
3,549
-
55
1,646
58
1,759
1,400
3,159
11,875
625
41,506
11,404
65,410
1,400
66,810

20

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

4.Team member support

Most team members are treated as self-employed by HM Revenue and Customs. They receive their support either directly or through World Horizons Limited as follows:

Gift Aid tax reclaimed
Donations		 2023
2022
£
£
1,090

771

39,320
45,169
40,410
45,940

21

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

5. Expenditure on charitable activities

2023
Staff Costs
Training
Premises Costs
Equipment
Depreciation & related adjustments
General Insurance
Office and Admin
Subscriptions
Professional Fees
Conference Expenses
Camp Expenses
Catering and hospitality
Gifts and Donations
Travel
International - Overseas transfers
International - UK payments
Other Operational Costs		 Teams
Support
Ministries
Llanelli
Hub
Regional
Teams
Other UK
Funds
Total
General
Funds
£
£
£
£
£
£
-
6,390
9,927
-
-
16,317
-
210
-
-
193
403
-
-
61,873
525
-
62,398
-
-
1,007
-
-
1,007
-
-
-
-
-
-

-
1,034
-
-
-
1,034
-
1,164
2,318
-
-
3,482
-
1,269
247
20
-
1,536
-
2,773
-
-
-
2,773
-
258
-
120
-
378
-
-
10,303
-
-
10,303
713
-

7,366
-
-
8,079
350
679
-
-
-
1,029
235
5,029
-
45
-
5,309
-
-
-
-
-
-
-
-
-
-
-
-
-
221
170
12
-
403		 Int Team
Accounts
Int Other
Ministries
Other
Restricted
Funds
Total
Restricted
Funds
£
£
£
£
14,870
-
-
14,870
3,180
1,290
-
4,470
525
-
-
525
-
-
-
-
-
-
-
-
-
-
-
-
3,297
929
-
4,226
-
-
-
-
-
-
485
485

548
-
-
548

-
-
-
-
-
-
-
-
2,838
37
725
3,600
12,529
3,944
500
16,973
5,190
74,395
-
79,585
1,006
40,971
1,771
43,748
1,544
-
-
1,544		 Capital
Funds
Total
£
£
-
31,187
-
4,873
-
62,923
-
1,007
8,407
8,407
-
1,034
-
7,708
-
1,536
-
3,258
-
926
-
10,303
-
8,079
-
4,629
-
22,282
-
79,585
-
43,748
-
1,947
8,407
293,432
1,298
19,027
93,211
722
193
114,451		 45,527
121,566
3,481
170,574

22

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

5a. Expenditure on charitable activities (cont.)

2022
Staff Costs
Training
Promotion
Premises Costs
Equipment
Depreciation & related adjustments
General Insurance
Office and Admin
Subscriptions
Professional Fees
Conference Expenses
Catering
Gifts and Donations
Travel
Travel & Medical Insurance
International - Overseas transfers
International - UK payments
Other Operational Costs		 Teams
Support
Ministries
Llanelli
Hub
Regional
Teams
Other UK
Funds
Total
General
Funds
£
£
£
£
£
£
-
7,808

5,769
-
-
13,577
11,609
102

-
240
-
11,951
469
-

-
-
-
469
1,033
1,230

31,251
1,722
438
35,674
-
-

2,331
-
-
2,331
-
-

-
-
-
-
-
994
-
-
-
994
375
484
2,004
36
43
2,942
-
1,213
-
20
-
1,233
-
2,923
-
-
-
2,923
-
1,384
-
398
7,688
9,470
-
-
3,829
-
-
3,829
-
100
-
-

-
100
177
745
-
819

-
1,741
-
-
-
-
3,469
3,469
-
-
-
-
-
-
-
-
-
-
-
-
1
525
1,268
233
205
2,232		 Int Team
Accounts
Int Other
Ministries
Other
Restricted
Funds
Total
Restricted
Funds
£
£
£
£
11,986
-
-
11,986
680
-
-
680

-
-
-
-

2,438
-
-
2,438
-
-
-
-

-
-
-
-

-
-
-
-

3,381
-
-
3,381
-
-
-
-

-
-
-
-
335
-
-
335
-
-
-
-
200
-
912
1,112
18,828
-
-
18,828
-
-
-

-
100
16,894
101

17,095
4,861
35,050
4,117
44,028
265
-
-
265		 Capital
Funds
Total
£
£
-
25,563
-
12,631
-
469
-
38,112
-
2,331
11,322
11,322
-
994
-
6,323
-
1,233
-
2,923
-
9,805
-
3,829
-
1,212
-
20,569
-
3,469
-
17,095
-

44,028
-
2,497

11,322
204,405
13,664
17,508
46,452
3,468
11,843
92,935		 43,074
51,944
5,130
100,148

23

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

6. Governance costs

7. Net income for the period
Independent Examiner's fees
This is stated after charging:
Depreciation
Operating leases – rent
Operating leases – equipment
Independent Examination provision		 2023
£
2,640
2,640
2023
£
8,407
9,850
384
2,640		 2022
£
2,520
2,520
2022
£
11,322
9,850
384
2,520

7. Net income for the period

8. Analysis of staff costs

Salaries
Pension Contributions
Fees Payable		 2023
2022
£
£
21,297
17,072
852
683
9,038
7,808
31,187
25,563

No employee of the charity received emoluments of more than £60,000 (2022: none) During the year, the charity had two part-time employees (2022: two).

24

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

9. Tangible fixed assets

Cost/revaluation
At 1st January 2023
Disposals
At 31st December 2023
Depreciation
At 1st January 2023
On disposals
Charge
At 31st December 2023
Net book values
At 31st December 2023
At 31st December 2022		 Leasehold
including
improvements
£
479,194
-
479,194
112,376
-
8,140
120,516
358,678
366,818		 Fixtures
fittings &
equipment
£
62,989
-
62,989
62,722
-
267
62,989
-
267		 Motor
vehicles
Total
£
£
5,700
547,883
-
-
5,700
547,883
5,700
180,798
-
-
-
8,407
5,700
189,205
-
358,678
-
367,085

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 Surveyors, Raglan House, Charter Court, Phoenix Way, Enterprise Park, Swansea, SA7 9DD. He gave an open market value of £380,000 on 8[th] June 2022. The corresponding insurance valuation was £2,270,000.

All assets are held for direct charitable purposes.

10. Debtors

Other debtors
Prepayments and accrued income
Gift Aid tax repayment due		 2023
2022
£
£
55,316
4,884
4,810
4,679
421
494
60,547
10,057

25

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

11. Cash at bank and in hand

Bank accounts
Cash in hand		 2023
2022
£
£
185,996
193,234
113
194
186,109
193,428

12. Creditors: amounts falling due within one year

Accruals
Other creditors
Deferred income		 2023
2022
£
£
9,679
4,284
2,881
3,392
805
1,087
13,365
8,763

26

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

13. Restricted funds
International Funds
Team Accounts
International Office
North Africa Team
WH Kidz Team
CMT Team
Middle East Team
Business as Mission
East & West Africa Teams
South America Teams
Other Teams
Other Ministries and Teams
Japan
Venezuela - V2020
West Africa Ministries
Asia Ministries
Europe Ministries
North Africa Ministries
Relief Ministries
Other Ministries
UK Funds
Building Project
Christian Motorcycle Association
Other Funds
Team Member Support
Total Restricted Funds		 At 1st Jan
2023
Income
Expenditure
Transfers
At 31st Dec
2023
£
£
£
£
£
24,484
33,981
(39,947)
(413)
18,105
6,392
262
(678)
-
5,976
898
-
-
-
898
2,262
425
-
-
2,687
2,631
778
(700)
-
2,709
4,020
624
(2,598)
-
2,046
1,403
920
(300)
-
2,023
2,328
139
(1,006)
(1)
1,460
833
120
(300)
-
653
45,251
37,249
(45,529)
(414)
36,557
33,420
-
-
-
33,420
24,285
600
(5,546)
(10)
19,329
12,796
43,271
(50,278)
(277)
5,512
-
15,000
(14,700)
(300)
-
38
500
(37)
(10)
491
3,205
60
-
-
3,265
-
71,815
(46,716)
(16)
25,083
4,092
284
(4,288)
60
148
77,836
131,530
(121,565)
(553)
87,248
13,344
-
(485)
-
12,859
2,104
2,900
(1,770)
-
3,234
1,518
240
(1,225)
3,341
3,874
16,966
3,140
(3,480)
3,341
19,967
-
40,410
(40,410)
-
-
140,053
212,329
(210,984)
2,374
143,772

27

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

14. Unrestricted and designated funds

General UK Funds
Teams
PR Team
Support Ministries
General Funds
Membercare Funds
Llanelli Hub
Regional Teams
Other UK Funds
Training Development
Wildstep
Total General Funds
Designated Funds
Emergency Fund
Total Designated Funds
Total		 At 1st Jan
2023
Income
Expenditure
Transfers
At 31st Dec
2023
£
£
£
£
£
1,938
-
(234)
(1,704)
-
1,938
-
(234)
(1,704)
-
22,004
15,705
(14,731)
2,147
25,125
6,866
682
(4,295)
(1,320)
1,933
28,870
16,387
(19,026)
827
27,058
1,448
133,428
(93,212)
2,010
43,674
6,480
1,860
(1,786)
(3,507)
3,047
4,254
-
(193)
-
4,061
1,682
-
-
-
1,682
5,936
-
(193)
-
5,743
44,672
151,675
(114,451)
(2,374)
79,522
10,000
-

-
-
10,000
10,000
-

-
-
10,000
54,672
151,675
(114,451)
(2,374)
89,522

The unrestricted funds of the charity include the Emergency Fund which has been set aside by the trustees as a designated fund to aid team members in emergencies.

15. Capital funds

15. Capital funds
Capital Fund
Revaluation		 At 1st Jan
2023
Income
Expenditure
Revaluation
At 31st
Dec 2023
£
£
£
£
£
237,082
-
(8,407)
-
228,675
130,000
-
-
-
130,000
367,082
-
(8,407)
-
358,675

28

World Horizons Limited

Notes to the Financial Statements for the year ended 31st December 2023

16. Operating leases and other financial commitments

Financial commitments under non-cancellable operating leases will result in the following payments falling due:

2023 2022
£ £
Land and buildings:
Expiring after five years 9,850
 9,850
Equipment lease:
Expiring in less than one year 96 -
Expiring between one and two years - 384

17. Transactions with trustees 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 received payment for professional or other services supplied to the charity.

29