FIELDS OF LIFE TRUST (A company Ilmlted by guarantso) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2023 Unrestrlcted funds 2023 Restricted funds 2023 Total funds 2023 Total runds 2022 Note Income from: Donations and legacies Charitable actlvltles Other income 469,439 78,968 2,300 1.569,180 189,737 2,028,619 288,706 2,300 1,983,650 99.974 1.059 Total Incomg 540,707 1,758,917 2,299,824 2.084,683 Exp8ndlture on: R8l$lng fund8 Ch8r118ble Bctlvitle• Other expendilurg 444.713 226,809 6,309 444.713 2,053,319 6,309 348.248 1. 779,669 1,827,610 Totsl expendltur• 676,831 1,827,610 2,504,341 2, 135,425 Net oxpendlturo Tran8fer8 between fundB (136,124) 269,706 (88,593 (269,706 1204,717 (50, 742J 17 Net movement In fund# 133,682 1338,299) (204,7171 (50, 742) Reconclllatlon of fund8: Tot81 fund$ brought forlvard Net movem&nt in funds 321,424 133,582 1.030,468 (33B,299) 1,361,882 {204,7171 1,402,624 (50, 742) Tolal lundg carrlad forward 465,006 692,169 1.147,165 t,351,882 The Statement of financial acliville8 Includes all gains and1088es recogni8ed in the year. The notes on pages 16 to 30 ft)mi part of these financlal 8tstam8nts. Page 13
FIELDS OF UFE TRUST IA company limlted by guardntee) REGISTERED NUMBER: N1030695 BALANCE SHEEr AS AT 30 JUNE 2023 2023 2022 Note FIX Current a01¥ Debtors Cash at bank and in hand 13 94.814 1,102A83 52,822 1.363,35D 1.497,297 1,416.172 Creditors: amounts falling due wllhin one 14 135,133) (39,290J Nol current assets 1,162,184 1,3T6,882 Total a•Jets less current Ilabllftles Credltors: amounts falllng due aft•r mor• than one Jear 1,182,164 1,376,882 15 116.000) (24000) Net a88ets elUdIng penslon aat 1,147.164 1.351.882 Total net a•t$ 1,147,164 1,351.882 Chorlty fund$ Restrlcted funds . Unrestrictod fvnd$ 17 17 692,169 466,006 1,030,458 321,424 Total funds 1,147,164 1,351.882 The Trustees actsnowiedge thelr responsbllitles for compljlng wlh the requirements of the Act whh resP8Ct to accounting records and preparation of financial st•lemontJ. The financial 8t8temenls have been pr8p8rgd in accordance vath the provisions applic4ble to enthles SUe¢t to the smal cunpanies reglme. The financial 8tstements were approved Bnd authorlsed for Issue by Ihe Tru8te&8 on 09 Fnry 2024 and $lgned on their behalf by. rjavid Brfan Thoinp$7in (rru$tee) The notes on page8 16 to 30 form part of these financial statements. Page 14
FIELDS OF UFE TRUST (A company Ilmlted by guaranto8) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023 2023 2022 Cash flows from oparatlng aetlvltles Net cash used In operating activllles 1263,167) (68,878) Cash flows from Inv••tlng *ctlvhle9 Dividends, interests and rents from investments 2,300 1,059 Net provldod by Invosllng acllvltl 2,300 1.059 Cash flow8 from finanelng actlvltl Not cash provldod by financlng actlvlUe8 Change In cash and cash 8qulvalents In Iho yoar Cash and ca8h 8qulvalent8 at the beglnnlng of the y88r (%0,867) 1,363,360 (67,819) 1,431. 169 Cash and ¢a8h equlvalent8 at tho end of th8 year 1,102,483 1,363,350 The notss on page8 16 to 30 form part of these financi818tatements Pa 15
FIELDS OF UFE TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 General InfofmatloTr Fl8kls of Life Trust Is a charttable eompany limlted by guaraniee, inmrporated In Northem Ireland under c1panY registratlon number N1030695. It Is a reglsiered charity with thè Charlty Commiss•Jn in Northem Ireland under numbw 104839. The ch8rit8ble np9n9 reglstered offKe ts situated at House of Vlc Ryn. Rathdwi Road. Lfsbum, BT28 2RE. The princp81 act11109 ol the company Is,. (1) To relSeve and prevent poverty lor people In Africa and el$ewhere In the daveloplng world, (2) To advance edatIOn lor pe¢Jple ln AJrl¢a and 818ewhere in the developing worhj. (3) To relieve sickness promot& heatth for people in Africa and elsewhere in the developing world hcludlng providing sources of clean drinking water. (4) To advance the Christian Faith through educatlon and trainlng for people In Afrfea and elsewhere In the developlng world. Accountlng pollcles . . 2.1 Ba818 of pr•par4tlon of flnanclal •tstem•nt• The financial statements have been ppÉred in accordance wtth the Ch8ritie¥ SORP (FRS 102) - Accounung and Reportlng by Charitie5.' Statement of Recommended Practi¢e appll¢able to charitles preparing thelr accounts in accordance with the Flnancial Reporting Standard aP[cable in the UK and Republic of Ireland (FRS 102) (eff8clive 1 January 2019), the Financial Reporting Stand8rd appllcable in Ihe UK and Republlc of Ireland (FRS 102) and the Companles Act 2006. Fields of Llfe Trust meels the derllIOn of a public beneflt enlty under FRS 102. Assets and liabilitie8 are Inltlally recogni8ed at hl8torl¢al cost or transaction value unl999 otherwisa itated In th• relevant accounting pollcy. 12 Incomg All income 18 recognised once Ihe Company has antiuement to the Income, it is probfible that the IrKome will be received and the arnnI of Income receivoble Can bo measured reliably. The recognition of income from legacies 18 dependent on establlshlng entitlement, the probablllty of receipt and the abllty to e8timata with sufficient 8ccuracy the amount recelvable. Evldence of entitlement to a legacy exists when the Company has suffKient evidence that a 9ift has been left to them (through knrymedge of the exi$ten¢e of a valid will and lh8 d8ath of the benefactor) and the executor Is ¥atisfied that the property In question wlll not be requlred to satlsfy daims in the estsl•. Receipt of a legacy must be recognised when it is probable that it vlll be received and the fair value of the amounl receivable, which will generally be the expected cash amount to be dlstrlbuted to the Company. can be reliably measured. Grants are incljded In the Statement of finand81 acttvitles on a receivable b8858. The balance of inwme recelved for specNlc purpose5 but not expended during the period is Shown In the relevant funds on the Balance sheeL Wher8 Income is rec8ived in advance of entitlement of receip( ts rwnilion ig deferred and included in Creditors as deferred sncom& Where entilthent occur3 before income is re1ved. the Income Is ac¢rued. Gifts in kind donated for distribution are Included at vation and recognised as inccrfne Nvhen they re distributed to tha proiec*s. Gifts donated for ale are induded as income when they are sold. Income tax recoverable in relation to donations r8c8ived Urer Glft Akl or deeds of covenant 15 recognlsed at the tlme of the donation. Other Inccvne is r8cognlsed In the pericrfl in whkh li 1$ recdvable and trj the extent the gocds have been provided or on compktlon of the seNice. Page 16
FIELDS OF UFE TRUST (A comp•ny Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Accountlng polklgs (contlnued) 2.3 Exp9ndlture Expenditute Is recognlsed once ttrKre18 8 legal or constructive obllgation to transfer economlc benefft to a thir(I party, it i¥ probable that a transfer of economic benefits wlll be requlred in settlement and the omount of the ob11gatK can be mea8ured roliably. Expenditure 18 classllled by actfvity. The co8t8 ot each activty are made up of the tclal of dlrect costs and shared costs, induding support costs Involved in undertaking each actlvity. Direct costs 8#utb1e to 8 single 8Ctivity are allocated dlrecuy to that actmty. Sh8red costs which contrlbute lo more than one activity and support costs thich ara not attributable to 8 skngle 8divily are apportioned beh¥8en those actItIeS C 8 basis conslst8nt th6 use of resource8. C8nlral staff costs are allocated on the basis of time spenL and deprecI8tlon charga8 alkJc8ted on the portlon of the as8eV8 use. Expendllure on raising funds OnCdeS all expenditure incurred by the Company to ra18e funds for its charftabl8 purposes and Includes ¢08ts of all fundrai$lrKJ 8Ctlvltles events and n¢)n-ch8rltabl8 trading. Expendlture on charitabla a¢lfvities is Incurred on dlreclly undertaking the a¢tlwftle8 whleh further tho Company'$ objedlves, a8 well as any a8#oclated Support CQgt8. All expenditure 18 Inclusive of ir0Ver8bI8 VAT. 2.4 D•btorg Trade and other debtor$ Bre recognised at th8 settlement amount after any trade dlscount offered. Prepaymenli ar8 valued at the amount prepaid net of any Irade di8count8 du8. 2.8 C•$h at bank and In hand Cash at bank and in hand includes c88h and 8hort-tem highly liquid investments wilh a short meturily of three months or le88 from the date of aequisillon or openlng of the deposlt or slmllar account. 2.6 Llabllltle8 and provlslons LlJlUtle$ are recognised when Ihere Is an ctjligation at the Balance sheet date as a result of 8 past event, it is probable thgt a transfer of economic benefit will be required In selllement, and the emount of the settlement C8n be estlmated reliably. Liabilities are rognISed at the amount that the Company anticlpates it will pay to settle the debt or the amount it has received as advanced payments for the goods or seDIiC88 it must provlde. Provislons are measured at the best estlmate of the 8mounts required Io Settle the Obl1gaon. Where the effect of the tlme value of money 18 material, the provision ig based on the Present value of those amounts. dlscounted at the pre.tax dixount rate th8t reflécts Ihe risks specific to the118bllity. The unwinding of the discount is recognised in the Statement of financial activllies a8 a finance cost. 2.7 Flnanclal Instruments The Company only ha$ firtanclal assets and financlal Ilabdities of a kind that qu81fy as bast¢ financlal instrumenis. Basic financlal instruments are initially recognised at transaction value and Subsequently measured at their Settlement value with the exception of bank loans which are subseqtsently measured at amortlsed cost using the effective Interest method. 2.8 Penslons Th8 Ccmpany operates a defined contribution pension scheme and thè p8nslon charyde represents the amounts payable by the Company to the fund in resp8Ct of the year. Page 17
FIELDS OF UFE TRU8T (A company Ilmited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Accounting pollcles Icontlnued) 2.9 Fund accountlng eral fund$ are unrestrkled furKls whlch are avallable for u30 at the dls¢r8tlon of the TNste08 In furtherance of Ihe general objectives of the C¢)mpany and which have not been deslgnat8d for other purposes. Restricted funds 8re funds whlch are to b¢ usèd In accordance wlth spe¢Mc restrictions Imposed by donors or which have been ralsed by the Company for p8rtlcu18r purposes, The ¢08ts of raising and admlnlsterlng Such funds are eharyed again$t the specific fund. The airn and use of each restricted fd is set oul In thè notss to the financlal Statnts. Income from donatlon* and Ia¢l•S Unre8trl¢ted Restrlct•d fund$ fund8 2023 2023 T¢)tal funds 2023 Donatlons Chlld Sponsorship Teom8 IrKlividual Glvlng Trust$ & FoundatlDn8 Departrnent ol Forelgn Affalrn {DFA)' Churchrream proJeet5 Income for Administr8tlon 524,532 $4,446 193,¢XI9 437,383 175.500 70,914 700 524,632 160,640 241,250 353,649 878.833 176,500 70,914 34,495 33,795 Don•llons total 435.885 1,456,484 IM92,169 Legacies Gift-aid 99 23,655 10,000 102,698 10.099 126A61 Subtotal 23,754 112,e96 136,460 459.439 1,569.180 2,028,619 his is a QOO,000 (2022.. Q50.otKI) grant received thrgh Irlsh Aid for the "l am Girl" proiecL Page 18
FIELDS OF LIFE TRUST (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL 3TATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Income from donatlons and legacl89 (contlnued) Unresfrict8d Rostrictad funds ftinds 2022 2022 Total lunds 2022 Donatlons Child Spon80rship Indfvklual Glvlng Trusts & Foundallon$ Department of Forelgn Affalrs (DFA). ChurchlTeam projects lthe for Admlnlstratlon 531,858 204,496 450.910 214,950 103.446 531,856 442,588 $30,910 214,950 113.496 39,155 238.092 80.000 10.050 39,057 Donatlon• total 367.199 1,505, 756 1,872,955 Legacle8 Gfft4ld 8,000 83,489 19,226 102, 695 Subtotal 19,228 91,469 110, 695 386,425 1,697.225 1.983.6 Income from charltable actlvltles Unrestrlcted Re$trlcted funds fund8 2023 2023 Total fund8 2023 Events Charity Shop in¢om8 187,C60 2.677 187,060 81,646 78,968 78,988 189,737 268,706 Unreslricled lunds 2022 Tol81 funds 2022 Charlty Shop Income 99.974 99,974 Page 19
FIELDS OF UFE TRUST Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Oth•r Incomlng resources Unrostrfcted lundg 2023 Total funds 2023 Bank Intero8t 2,300 131KI Unrestrfcted funds 2022 Total fiJnd8 2022 Bank interest 1.059 1,059 Exp•ndkurn on r•l8lng fund• C06tg of Mlslng voluntary Income Unrnstrlcted fund8 2023 Total lund8 2023 Fundralslng costs Chgrtty shop ¢0sts Direct costs (seg note 8) Charlty $hop- wages & salaries e7.003 30,676 298,592 48.442 67,003 30.676 298.592 444.713 444,713 Unrn8t17¢ted funds 2022 Tot81 funds 2022 F4mdraislng costs Charlty shop costs Direct costs (see note 8) Charity shop- wages & salarre3 12,437 27,411 267.637 40, T63 12.437 27,411 267.637 40, 763 348,248 348,248 Page 20
FIELDS OF UFE TRUST (A company limited by guarantqe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Expendlture on ralslng funds (contlnued) Anatysh of oxpèndltum on charltable aetlvltles Summary by fund typ• Unrestrlctod R•strfcted funds funds 2023 2023 Total 2023 Qualty Educatlon Resllience & Llvallhood8 Hoalth & Wellb8lng General l Other Teams Direct cosls (sea note 8) Governance cost$ 1.242.314 9.817 546,039 1,242,314 9,817 548,039 9.588 29,340 195,630 20,593 9,686 29,340 195,630 20,593 225.809 1,827,510 2,053.319 Unr861ricled funds 2022 Re6tiicted funds 2022 Tot81 2022 Qualiiy Education Reslllence & Livelihoods Health & Wellbeing Gener811 Other Dlrect costs (see note 8) Governance costs 1,107,016 20.50Q 384221 1, 107.016 20,500 385.221 TO.313 17&555 21,064 70,313 175,555 21,064 266,932 1,512.737 1, 779.669 Page 21
FIELDS OF UFE TRUST IA Company Ilmlted by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Anatysls of direct Costs Raising Charftable Govemanco Funds Activity 2023 2023 Total funds 2023 2023 Staff costs Other staff costs Prlntlng. postage & Stationery Office rent Ul4les. eltrIC uffiitks- tslephone Utllltle$- Intem8VIT Equlpment utiiitle¥- vehlclos Insurance PrDf•s8Fonal fege 221,595. 14,451 8,042 11,313 1.041 1,278 145.183 9,468 5.289 7,412 681 836 5,894 541 1,422 9,8e6 9,058 15,283 997 555 382,061 24,916 13,866 19,605 1,794 2,200 16,610 1,424 3.741 25,962 23,836 826 2,169 15.058 13,825 57 150 1,038 953 298,592 195,630 20.593 514,816 R81slng Chwitabh Govemance Funds Actlvity Costs 2022 2022 2022 Tolal lunds 2022 Staff costs other slaff costs Prfntlng, p08ts9e & ¥tatlonery Office rent Utilllies- elgctrlcSty ut115tle$- lelophono UtSittles- intemeVIT Equlpment Utlilies - vehtcles Insurar Professlonal fee8 197,692 4782 6,111 11,307 697 1,223 13,206 129,522 3, 788 13.634 399 421 340,848 9.969 10,536 19,495 1,201 2, 109 22. 769 898 4.536 18,245 456 48 84 911 36 181 730 3,840 8,652 342 1,724 933 11,924 2,631 10,582 17.886 267,637 175.555 21,064 464.256 Page 22
FIELDS OF UFE TRUST (A company Ilmlled by guaranteg) NOTES TO THE FINAIICIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Other expendtture Unrestrlcted fundg 2023 Total fund9 2023 Bank charge8 8,309 8,309 Unrnstricted Ibnds 2022 Total lunds 2022 8th( charges 10. AudltorJ' remuneratlon 2023 2022 Fee$ payable to tho Company's auditor for th6 aud5t of the CompanV8 annual accoun18 6,100 3,840 11. Staff costs 2023 2022 Wage8 and Salaries Sttlal securlty COSt8 Contributton to defined conlributlon penslon schemes 364,469 27,862 38.192 319,852 29,171 32.588 430,603 381.611 The average number of persons employed by the Company during the year was as follows: 2023 No. 2022 No. Employees 16 14 No employee received remuneration amounting to more than £80,000 In either year. Remuneration reiVed by the Company's key management personnel 8mounled to £181,553 1(2022: £131.924. Page 23
FIELDS OF UFE TRUST (A company Ilmlted by guaranta•) NOTES TO THE FINANCIAL STATEMENT3 FOR THE YEAR ENDED 30 JUNE 2023 11 Trustees. remuneration and oxp•n805 Durlng the year. no Trustses recelved any remuneration or other benefits (2022- £NIL). Durirffj the sryar ended 30 June 2023, no T188 8xpense8 have been Incwred (2022- £NIL). 13. Debtorn 2023 2022 Due wlthln one yaar Other debtor8 94814 52,822 94M14 52.822 1& Cr•dltors: Amounts falllng due wtthln on• y•ar 2023 2022 othgr k)ans Other tsxallon and soclal becurfty A¢cruals and deferred income 10,000 10.016 16,117 8.673 10,617 35.133 39.290 15. Credltors: Amouilts falllng du• aftar mor• Ihan one ymr 2023 2022 Other loans 16,000 25.000 16. Flnanelal Instrumonts 2023 2022 Flnanclal assets Financial 8ssets measured at fair valu8 through in¢rxne and expendtture 1,102,483 1.363,350 Financial a85ets measured at fair value through inccme and expenditure comprise cash & cash equivalents. Page 24
FIELDS OF UFE TRUST IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 17. Statement of funds ststemant of fund8 - currnnt year Balance at 30 Jun• 2023 Balance at 1 July 2022 Trnn5fer9 Inlout Income Expondlturn Unmttlcted fund• Charity Shop General Fund$ 32,673 288,851 78,968 461,739 179.119) (597,713) 32,422 422,583 269,706 321.424 640,707 (676,832) 269,706 4S5,005 Ra$trfctod funds Child Spon$or8hlp School AgrICuur8 Schoclffeam Fund 359,611 13,233 391,803 140,057 79,406 1,867 44,691 612,652 6,888 368,450 67,057 310,246 94,830 304,796 {530,139) (171,039) (9,817) <796 (861.343) (3,220) (80,172) {9,052) (289,033) (42,6681 (12.802) (29,740) 270.580 8,609 85,690 117,890 63,060 83,685 82,740 Watsr FurKlralslng Ho8lth {267,006) 1.030.458 1,758,917 (1,827,610) (269,706) 692.109 Total of fund9 1,361,882 2,299,624 12,604,342) 1,147,q64 Page 25
FIELDS OF LIFE TRUST IA Gompany Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 17. Statom8nt of funds (¢ontlnued} statement of fundg- prforyear Balance at 30 June B8lance al 1 July2021 TnSfer8 Income Expendlturn Unrestrkted fund• Ch8rlty Shop Gener81 Funds 773 201,719 99,974 387,484 (68, 174) (524,383J 32,573 288,851 224,031 201492 487,458 {592,557J 224,031 321.424 RtrfCt funds Chlld Sponsorshlo School Agrfculiure S¢hoo¥Team Fund Wator Fundral$lng Heatth 320,876 23,273 694,589 106,848 10.556 43,990 614,118 12,092 564.446 127, 744 (368,331) (169,342) (20.500) (1.632) (738,684) f26,%XI) (137,941) (17,245) {30,132) 13. 143 (247,280) (r2, 755) 397,321 13,233 494, 150 79,406 1.657 44,691 270.736 1.200. 132 1.597,225 (1,542,868) (224,031) 1.030,458 Total of funds 1.402,624 Z084.683 (2, 135,425) 1,351.882 Page 26
FIELDS OF UFE TRUST IA company limlted by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 17. Statement of lunds (contlnued} Chlld Sponsorshlp: The Child $pon80fEhip furKI foms part of our key prfority area of Qualty Educatlon. The qualty èduc8tion prcgram concentrates on improving th8 qU8Iity of education in the school8 8UPPOrted by Flelds of Llfe through ¢ontlnuoug professional support to the 8chool$, the chlldren. and communltle8 around the schools. Sch¢)ol Agrfculture: Th18 fund fomis part of our key prfority area of Resilien¢¢ and Llvelihoods. Th1$ priority area focuse8 on enhanclng livelihood resilience for the marginalised and most vulnerable youthlchildren and women in East Africa. One of th8 aims Is Incfeasing agricultural produclion and producumty for chlldren, $¢hoo18 and communitles. Schools Infra8tructurelProgrammg and T6am Fund.. The schoolsneem fund represent8 donations recelved to help bulld, complete or Support runnlng o)8ts of Schools. Thls money 1$ r8l$ed elther by a team or jndlvlduals and used to carry out specific pryecls. Fields of Llfe specrfy Ihe projects i.& school bullds, teacher 8ccommodalion, kitch8ns or painting of 8 School. This fund al$0 consists of money raised by tsam$ to cover any 8xpen$es incurred durlng their •tay at thelr.. chosen project iludIng accommodatlon, food and travel to and from the wojecl. Water: The water fund fomis part of our Key Prlorlty Area of Health and W8llbelng. ThSs priority are8 promotes h8allh and wellboin9 for Ihe m8rglnali$ed and most vulnerable ch51drenlyouth In school and other members of community in Easl Africa by increa8ing ac¢e68 to safe and clean vmter. Chrlguan Educatlon: A8 Fields of Life 8UPPOrt8 church partners In dellv8ring qu81ty education thrwgh School Infr8StNcture and programmlng, there 18 Some resource 8nd support provided to the School and church1gader8 to enable them to develop Ihelr Chrlstlan Educatlon programmes with provision of trainlng and m8terlals. A Christian lrfe 8klll8 cour88 enlltled 'Living Well. has been developed for use ty partn8r6 Sn Seeking to encourage bulkling re$ilience 8nd crftlcal thinking in African young people 88 well as praGtIGally applwng lalth wilhin thelr context. Health EduGHtlon: Slmi18r to the Water fund, the Health Education Fund fomi$ p8rt of.our Key Priority Ar8a of Health and Wellbeing. Thls prtority area promotes health and wellbeing lor the marglnallsed and most vulnerable chlldrentyouth in schwl and olher members of communlty In East Africa. 11 aims at Improvlng Men8trual Hyglqne Management for adolegcent girls through training In making Reusablg Menstrual Pads for exampl8. 18. Summary of lunds Summary of funds- currènt year 8alance at 30 June 2023 BalAn¢• at 1 July 2022 Tran*ferg Inlout Income Expendlturo General funds Restricted funds 321,424 1.030,458 S40,707 (878,832) 269,706 1.768.917 (1,827,510) 1269,7061 455,005 692.159 1,351,882 2.299,624 (2,504,342) 1,147,164 Page 27
FIELDS OF UFE TRUST (A company lkntted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 18. Summary of funds l¢ontInu> Summary of funds- prfor year Balance 81 l June 2022 Balance al l July 2021 Transfe in/oul Incc¥ng Expendltu Goneral funds Re6trkted fund8 20Z492 I,%X), 132 487,458 (592.557) 224,031 321,424 1,597,225 (1.512,868) (224,031) 1,030,458 1,40Z624 2,084,683 (2.135,425) 1.35t,882 19. Analys18 of net a88ets between funds Analy•l$ of n•t assets betweon funth - curr•nt y•ar Unrnstrlctsd Regtrlcl funds fund8 2023 2023 Total funds 2023 Current assets Credltors due within one year Creditors du8 In more than one year 490,137 (35.132) 707,159 1,197,296 136.133) <15.0001 (15,000) Total 455,005 692,1Sg 1,147.164 An8ty91g of net assets between fund9 - prfor y•ar Unrnstrtcted R•stiict8d funds funds 2022 2022 Total lunds 2022 Current assets Credltors due wlthln one year Creditors duo in mor8 than one year 350, 7t4 (29,290) 1,064458 (io.LwJ f24OOOJ 1,416,172 (39.290) (24000) Total 321,424 1.030.458 1,357,882 Page 28
FIELDS OF LIFE TRUST (A company Ilmlted by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Raconciliation of net movement in funds to net cagh flow from operatlng acUvltle6 2023 2022 Net expendit(Ira for the year (a8 per Statement of Financial ActNitleB) (204.717) (50, 742) Adjustments for: Dividends, interests and rents from inv88tments D8creasel(incr8888) In debtors Decrease in creditors (2,300) (41.992) 114.1681 (1,059) 56,437 (73,514) , Net cash us•d In operatlng actlvltleg 1263,1671 (68,878) 21. Analy818 of ¢a8h and cash •qulval•nts 2023 2022 Ca8h in hand 1,102,483 1,363,350 Total cash and cash equlvalents 1,102,483 1,363,350 22. Analys1$ of changos In net d•bt At 1 July 2022 Cash flow• At 30 Juno 2023 Cash at bank and in hand Debt due within 1 year Oebt du6 after1 year 1,363,350 (20,000) (25,000) {260,887) 1,102,483 10,000 (10.000) 10,000 {15,000) 1,318.350 1240.867) 1,077,483 Pen?ion commitments The charitable company operates a defined ct)ntrlbution pension $ch¢me, The assets of the scheme are held separalely from those of the company in an independently admlni$tered fund. The pension cost charge repra$ent$ contributions payable by the company to the fund and amounted lo £27,852 (2022: £29,.171). At the balance sheet datè £6,557 {2022: £3.619) was payable to the fund, vthich is included withln crediiors. Page 29
FIELDS OF UFE TRUST (A company limltod by guarants8) 140TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Operatlng leaso comfflllmonts At 30 June 2023 the Company had eommltsnents lo make future mlnimum lease pa>Th8nts under r#x cancellable opèrating leas¢$ as folbws: 2023 2022 Not later then 1 year Lalertn 1 ye8r and not18ter then 5 yearn 29.043 99.821 41.080 6.464 128,864 47.544 Momborn, Ilablllty Each m8mber of the charitable company undertakes to ntribUte to the assets of the company in the event of it belng wound up while helghe 1$ a member, or wlthln one year after hellhe ¢eases to be member, ¥uch amount as may be requlred, not 6xceedlng £10 for the debt8 and Ilabllltles Contted b8for8 helsha cea8es to be a member. 26. Related party tranMctlon8 No Trustee received any remunaratlon or olher b8n8fit from their work wllh the Charity. Any connection behveen a Trustee or Senior Management with any orgBnls8tlon the Charlty works with must be d18closed to the Board in the same w8y a8 any other contractual relatlonshlp wtth th8 related party. A separate Company exlst8 In Uganda - Flej5 Qf Life Uganda. The company Is reglstered In Uganda a8 a Company limited by guarantee not havlng shar& eapltal. Thelr Board consist$ of Ioc81 professionals and IMO international directors. Flelds ol Llfe Uganda r8c8lvo8 fund8 from Fleld8 of Life Nl, Flelds of Llfe ROI and Fleld8 of Lffe GB. Flelds of Llf8 Nl sent a total of £1,829,510 (2022: £1.555,523) to Flelds of Life Uganda during the year. Field5 of Llfe are also connected lo Flelds of Life GB and Fields of Llfe ROI, and they also support number of other partners in Souih Sudan. Controlllng party The Charty Is controlled by th8 Board of Trustees. Page 30