IRIS Accounts Production v24.1.0.578 Other Company accounts True false Pounds 1.8.22 31.7.23 31.7.23 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false true 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1667142022-07-31SC1667142023-07-31SC1667142022-08-012023-07-31SC1667142021-07-31SC1667142021-08-012022-07-31SC1667142022-07-31SC166714ns0:CharitableCompanyLimitedByGuarantee2022-08-012023-07-31SC166714ns15:PoundSterling2022-08-012023-07-31SC166714ns11:FRS1022022-08-012023-07-31SC166714ns11:IndependentExaminationCharity2022-08-012023-07-31SC166714ns11:SmallCompaniesRegimeForAccounts2022-08-012023-07-31SC166714ns11:FullAccounts2022-08-012023-07-31SC166714ns11:CharitiesSORP2022-08-012023-07-31SC166714ns16:EnglandWales2022-08-012023-07-31SC166714ns11:RegisteredOffice2022-08-012023-07-31SC166714ns0:Trustee22022-08-012023-07-31SC166714ns0:Trustee12022-08-012023-07-31SC166714ns0:Trustee32022-08-012023-07-31SC166714ns11:CompanySecretary12022-08-012023-07-31SC166714ns0:Activity82022-08-012023-07-31SC166714ns0:Activity82021-08-012022-07-31SC166714ns10:WithinOneYear2023-07-31SC166714ns10:WithinOneYear2022-07-31SC166714ns0:TotalUnrestrictedFunds2023-07-31SC166714ns10:ComputerEquipment2022-08-012023-07-31SC16671422022-08-012023-07-31SC16671432022-08-012023-07-31SC166714ns10:ComputerEquipment2022-07-31SC166714ns10:ComputerEquipment2023-07-31SC166714ns10:ComputerEquipment2022-07-31SC166714ns10:CostValuation2022-07-31
REGISTERED COMPANY NUMBER: SC166714 (Scotland)
REGISTERED CHARITY NUMBER: SC024995














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31st July 2023

for

World Finance Initiative
(A Company Limited by Guarantee)

World Finance Initiative

Contents of the Financial Statements
for the year ended 31st July 2023










Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 13

World Finance Initiative (Registered number: SC166714)

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



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st July 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Objectives and activities
Objectives and aims
The general objectives of the charity are to provide education, encouragement and counselling in non-traditional ways of using finance.

Our main aim is to promote and implement a vision for a love based economy and a care first world. We developed a workshop "meeting the mystery of money" as a very powerful transformational tool.

We help people with issues around money survival and work. We help people move from fear to trust and into more self empowerment. We promote a constructive, care first use of money.

In care first we use money in service of our values, well being and well being of the planet and not at their expense.

Achievement and performance
Charitable activities
2022-2023 was again a very constructive year for World Finance Initiative. Together we explore what the practice of Care First looks like in different sectors of our culture. "Care First" is spreading more and more widely and is accepted as a very important message for the transformation of our economies and financial worlds and our culture world-wide.

We describe a Care First World as a world in which care for the well-being of people and our planet comes first. Money is used to make well-being possible. Everyone can provide for their basic human needs and develop themselves. We care for the Earth, who provides us with so much materially. We experience the Earth as a gift we can share with each other.

We assist people with becoming more conscious of the unique workings of their heart's intelligence and activate heart intelligent collaboration. We do this by a process called the Personal Key session which we do internationally and online. We also developed the online version of our workshop "Meeting the Mystery of Money" once COVID 19 started, a workshop we've provided since 2004. It assists people to explore their relationship with money and learn how to work with Care First in their lives. We have been training new facilitators for the Personal Key sessions and Meeting the Mystery of Money workshop.

In Feb 2023 we started the development of a new magazine called "Care First World".
We produced the first issue June 2023. It has been very well received.

Financial review
Financial position
The actual funds held at 31 July 2023 showed a balance of £128.

Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Reference and administrative details
Registered Company number
SC166714 (Scotland)

World Finance Initiative (Registered number: SC166714)

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


Registered Charity number
SC024995

Registered office
1 Plasmon Houses
Fleurs Place
Forres
Moray
IV36 1LX

Trustees
S J Bohtlingk
L C F Bohtlingk
H A Cowen

Company Secretary
S J Bohtlingk

Independent Examiner
Stuart McMartin B.Sc FCA
Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT

Approved by order of the board of trustees on 18th April 2024 and signed on its behalf by:





L C F Bohtlingk - Trustee

Independent Examiner's Report to the Trustees of
World Finance Initiative



I report on the accounts for the year ended 31st July 2023 set out on pages four to thirteen.

Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement
In connection with my examination, no matter has come to my attention :

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.








Stuart McMartin B.Sc FCA
The Institute of Chartered Accountants in England and Wales

Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT

18th April 2024

World Finance Initiative

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

2023 2022
Unrestricted Total
fund funds
Notes £    £   
Income and endowments from
Donations and legacies 2 356 395

Charitable activities 3
Charitable Activities 2,290 3,161
Total 2,646 3,556

Expenditure on
Charitable activities 4
Charitable Activities 3,972 4,970

NET INCOME/(EXPENDITURE) (1,326 ) (1,414 )


Reconciliation of funds
Total funds brought forward 1,454 2,868

Total funds carried forward 128 1,454

World Finance Initiative (Registered number: SC166714)

Balance Sheet
31st July 2023

2023 2022
Total Total
funds funds
Notes £    £   
Fixed assets
Investments 9 1 1

Current assets
Stocks 10 318 -
Cash at bank and in hand 469 2,083
787 2,083

Creditors
Amounts falling due within one year 11 (660 ) (630 )

Net current assets 127 1,453

Total assets less current liabilities 128 1,454

NET ASSETS 128 1,454
Funds 12
Unrestricted funds 128 1,454
Total funds 128 1,454

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


World Finance Initiative (Registered number: SC166714)

Balance Sheet - continued
31st July 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 18th April 2024 and were signed on its behalf by:





L C F Bohtlingk - Trustee

World Finance Initiative

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


1. Accounting policies

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments
Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the statement of financial activities.


World Finance Initiative

Notes to the Financial Statements - continued
for the year ended 31st July 2023


2. Donations and legacies
2023 2022
£    £   
Donations - Europe 356 395

3. Income from charitable activities
2023 2022
Activity £    £   
Meeting the mystery of
money


Charitable Activities

220

876
Pay it forward Charitable Activities 455 649
Personal key sessions Charitable Activities 160 -
Spirit dolls Charitable Activities - 127
Books Charitable Activities 17 -
Soul reading and healing Charitable Activities 473 151
Facilitators support us Charitable Activities - 233
PK training sessions Charitable Activities 66 125
Seed funding Charitable Activities 414 1,000
Digital Magazine sale Charitable Activities 21 -
Gifted Magazine sale Charitable Activities 88 -
Printed Magazine sale Charitable Activities 376 -
2,290 3,161

4. Charitable activities costs
Support
Direct costs (see
Costs note 5) Totals
£    £    £   
Charitable Activities 3,166 806 3,972

5. Support costs
Governance
Finance costs Totals
£    £    £   
Charitable Activities 35 771 806

World Finance Initiative

Notes to the Financial Statements - continued
for the year ended 31st July 2023



6. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31st July 2023 nor for the year ended 31st July 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31st July 2023 nor for the year ended 31st July 2022.


7. Comparatives for the statement of financial activities
Unrestricted
fund
£   
Income and endowments from
Donations and legacies 395

Charitable activities
Charitable Activities 3,161
Total 3,556

Expenditure on
Charitable activities
Charitable Activities 4,970

NET INCOME/(EXPENDITURE) (1,414 )


Reconciliation of funds
Total funds brought forward 2,868

Total funds carried forward 1,454


World Finance Initiative

Notes to the Financial Statements - continued
for the year ended 31st July 2023


8. Tangible fixed assets
Equipment
£   
Cost
At 1st August 2022 and 31st July 2023 660
Depreciation
At 1st August 2022 and 31st July 2023 660
Net book value
At 31st July 2023 -
At 31st July 2022 -

9. Fixed asset investments
Shares in
group
undertakings
£   
Market value
At 1st August 2022 and 31st July 2023 1
Net book value
At 31st July 2023 1
At 31st July 2022 1

There were no investment assets outside the UK.

10. Stocks
2023 2022
£    £   
Stocks 318 -


World Finance Initiative

Notes to the Financial Statements - continued
for the year ended 31st July 2023


11. Creditors: amounts falling due within one year
2023 2022
£    £   
Accrued expenses 660 630

12. Movement in funds
Net
movement At
At 1/8/22 in funds 31/7/23
£    £    £   
Unrestricted funds
General fund 1,454 (1,326 ) 128

TOTAL FUNDS 1,454 (1,326 ) 128

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 2,646 (3,972 ) (1,326 )

TOTAL FUNDS 2,646 (3,972 ) (1,326 )


Comparatives for movement in funds

Net
movement At
At 1/8/21 in funds 31/7/22
£    £    £   
Unrestricted funds
General fund 2,868 (1,414 ) 1,454

TOTAL FUNDS 2,868 (1,414 ) 1,454

World Finance Initiative

Notes to the Financial Statements - continued
for the year ended 31st July 2023


12. Movement in funds - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 3,556 (4,970 ) (1,414 )

TOTAL FUNDS 3,556 (4,970 ) (1,414 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1/8/21 in funds 31/7/23
£    £    £   
Unrestricted funds
General fund 2,868 (2,740 ) 128

TOTAL FUNDS 2,868 (2,740 ) 128

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 6,202 (8,942 ) (2,740 )

TOTAL FUNDS 6,202 (8,942 ) (2,740 )


World Finance Initiative

Notes to the Financial Statements - continued
for the year ended 31st July 2023


13. Related party disclosures

There were no related party transactions for the year ended 31st July 2023.