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|||Page||
|---|---|---|---|
|Reference and administrative
details||||
|Report ofthe trustees|2|to|4|
|Report ofthe independent
auditors|5|to|7|
|Statement offinancial activities||||
|Balance sheet||||
|Cash flow statement||10||
|Notes to the cash flow statement||||
|Notes to the financial statements|12|to|25|
|Detailed statement offinancial activities|26|to|27|
##
##
||TRUSTEES|JWatkins|(chair)|(chair)|
|---|---|---|---|---|
|||G Chamberlin|||
|||W MacKenzie|||
|||Mrs EDowey|||
|||W Owen|||
|||Mrs L Owen|||
|||P Dalton|||
||PRINCIPAL ADDRESS|Unit 5|||
|||Glendale
Avenue|||
|||Sandycroft|||
|||Deeside|||
|||CH5 2QP|||
||REGISTERED CHARITY|1015793|||
||NUMBER||||
|~|AUDITORS|Berringers|LLP||
|||Chartered|Accountants||
|||and Statutory||Auditors|
|||Lygon House|||
|||50London|Road||
|||Bromley|||
|||Kent|||
|||BR13RA|||
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||||for|the year|ended 31March|2021|||
|---|---|---|---|---|---|---|---|---|
|||||||||Period|
|||||||||1.2.19|
||||||||Year Ended|to|
||||||||31.3.21|31.3.20|
||||||Unrestricted|Restricted|Total|Total|
||||||funds|funds|funds|funds|
|||||Notes|||||
|INCOME AND ENDOWMENTS|||FROM||||||
|Donations
and legacies||||2|362461|135,778|498439|170,039|
|Sale ofBibles &Christian|Literature|||3|101,716||101,716|3,378,926|
|Investment
income||||4|151||151|703|
|Other income||||5|234010||234,010|169,286|
|Total|||||698,438|135,778|834/16|3,718,954|
|EXPENDITURE ON|||||||||
|Charitable
activities|||||||||
|Sales ofBibles &Christian|Literature||||264/23||264/23|3,152,259|
|Support costs|||||125,779||125,779|1,037,352|
|Distributions
to members||||||99,140|99,140|110,484|
|Exceptional
item|||||35611||35611|3,179,349|
|Total|||||425,713|99,140|524/53|7,479,444|
|NET INCOME/(EXPENDITURE)|||||272,725|36,638|309/63|(3,760,490)|
|Other recognised
gains/(losses)
Gains/(losses)
on revaluation
offixed assets|||||~38157||~381||
|Net movement
in funds|||||268,910|36,638|305~8|(3,760,490)|
|RECONCILIATION
OF|FUNDS||||||||
|Total funds brought forward|||||3,842,906|158,670|4,001476|7,762,066|
|TOTAL FUNDS CARRIED||FORWARD|||4ill 816|~195 08|~4 07 124|4,001,576|
##
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||31|March 2021|||||
|---|---|---|---|---|---|---|
||||||2021|2020|
|||Unrestricted|Restricted||Total|Total|
|||funds|funds||funds|funds|
||Notes||||||
|FIXEDASSETS|||||||
|Tangible assets|15|3$.60~8|||3460,548|3,434, 188|
|CURRENT ASSETS|||||||
|Stocks|16|41,655|||41,655|165,193|
|Debtors|17|390,175|||390,175|94,419|
|Cash at bank and in hand||~524
40|~198|3|722,583|556,319|
|||956,070|198+43||1,154,413|815,931|
|CREDITORS|||||||
|Amounts
falling due within one year|1$|(44,469)|(3,035)||(47404)|(203,071)|
|NET CURRENT ASSETS||911601|~195 08||I 106909|612,860|
|TOTAL ASSETSLESSCURRENT|||||||
|LIABILITIES||4,172,149|195/08||4/67,457|4,047,04$|
|CREDITORS|||||||
|Amounts
falling due after more than one year|19|(45,833)|||(45,833)||
|PROVISIONS FOR LIABILITIES|22|(14+00)|||(140i00)|(45,472)|
|NET ASSETS,
'||~4111 16|~195|8|~407 124|4,001,576|
|FUNDS|23||||||
|Unrestricted
funds:|||||||
|General
fund|||||2,196,405|1,507,689|
|Revaluation
fund|||||I 915411|2335 217|
||||||4 111816|3 842,906|
|Restricted
funds|||||195+08|158,670|
|TOTAL FUNDS|||||~4 07 124|4 001 576|
##
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|||||CASH FLOW
for the year ended|STATEMENT
31March 2021|||
|---|---|---|---|---|---|---|---|
||||||||Period|
||||||||1.2.19|
||||||Year Ended||to|
||||||31.3.21||31.3.20|
|||||Notes||||
|Cash flows from operating|activities|||||||
|Cash generated
from operations|||||376|169|~2502 262)|
|Net cash used in operating|activities||||376|169|~2502 262)|
|Cash flows from investing|activities|||||||
|Purchase oftangible
fixed assets|||||||(3,582)|
|Sale oftangible
fixed assets|||||492482||2,585,500|
|Interest receive%I||||||151|703|
|Net cash provided
by investing||activities|||492|433|2,582,621|
|Cash flows from financing|activities|||||||
|New loans in year
Loan repayments
in year|||||50,000||~110,946)|
|Net cash provided
by/(used|in)|financing||activities|50|MO|~))0,946)|
|Change
in cash and cash equivalents|||in|||||
|the reporting
period|||||166+64||(30,587)|
|Cash and cash equivalents|at|the||||||
|beginning
ofthe reporting|period||||556|19|586,906|
|Cash and cash equivalents|at|the end|of|||||
|the reporting
period|||||722|503|556,319|
##
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|OPERATING ACTIVIT|IES|||||
|---|---|---|---|---|---|
||||||Period|
||||||1.2.19|
|||||Year Ended|to|
|||||31.3.21|31.3.20|
|Net income/(expenditure)|for the reporting|period (as per the||||
|Statement offinancial activities)||||309+63|(3 760490)|
|Adjustments
for:||||||
|Depreciation
charges||||12+25|51,970|
|Loss on disposal offixed|assets|||15/18|11,456|
|Interest received||||(151)|(703)|
|Movement
in dilapidation|provision|||(30,972)|(35,786)|
|Non-cash donations
received||||(350,000)||
|Decrease in stocks||||123438|1,283,556|
|(Increase)/decrease
in debtors||||(295,756)|345,198|
|Decreas'e in creditors||||~159,734)|~397,463)|
|Net cash used in operations||||~376 169|~2,502,262)|
|ANALYSIS OF CHANGES IN NET FUNDS||||||
||||At 1.4.20|Cash flow|At313.21|
|Net cash
Cash at bank and in hand|||556+19|166+64|722~|
||||~556 19|166+64|~722
83|
|Debt||||||
|Debts falling due within I year||||(4,167)|(4,167)|
|Debts falling due after
1 year||||~45,833|~45,833|
|||||~50 000|50000|
|Total|||556 19|~)16 64|672 83|
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|2.|DONATIO|NS
AND LEGA|CIES|||
|---|---|---|---|---|---|
||||||Period|
||||||1.2.19|
|||||Year Ended|to|
|||||31.3.21|31.3.20|
||Donations|||498439|170,039|
|3.|SALE OF|BIBLES4f8 CHRISTIAN LITERATURE||||
||||||Period|
||||||1.2.19|
|||||Year Ended|to|
|||||31.3.21|31.3.20|
|||||K||
||Branch retail sales|||101,716|1,726,462|
||Wholesale|sales|||1,652,464|
|||||101,716|3,378,926|
|4.|INVESTMENT INCOME|||||
||||||Period|
||||||1.2.19|
|||||Year Ended|to|
|||||31.321|31.3.20|
||Deposit account interest|||151|703|
|5.|OTHER INCOME|||||
|||||2021|2020|
||Profit/(loss)|on disposal offixed assets||(15418)|(11,456)|
||Rental income|||70,911|147,938|
||Other||||32,804|
||HMRC Job|Retention Scheme||115,643||
||Business Support Grants|||62,674||
|||||369/86|169286|
|6.|Sales ofBibles &Christian||Literature|||
||||||Period|
||||||1.2.19|
|||||Year Ended|to|
|||||31.321|31.3.20|
||Opening stock|||165,193|1,448,749|
||Purchases|||17+83|1,002,526|
||Closing stock|||(41,655)|(165,193)|
||Staffcosts
Packing, postage and carriage|||119,486
~321|613,433
220,244|
||Carried forward|||263,928|3,119,759|
##
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|Sales ofBibles &|Christian
Literature - continued|||
|---|---|---|---|
||||Period|
||||1.2.19|
|||Year Ended|to|
|||31.321|31.3.20|
|Brought forward||263,928|3,119,759|
|Sales commission|and samples|395|32 500|
|||264
23|3,152,259|
##
||||Support|Support||
|---|---|---|---|---|---|
|||Direct|costs|(see||
|||Costs|note|8)|Totals|
|Support costs||||||
|||101,497|24/82||125,779|
|Distributions|to members|99 140|||99140|
|||200,437|24|82|224,919|
##
||||Total|||Apportionment|
|---|---|---|---|---|---|---|
|Cost type|||allocated|Governance|Other support|Basis|
|Establishment|costs||66,823|152|66,671|Usage|
|Travel &motor|||2,291||2,291|Usage|
|Advertising|||672||672|Usage|
|Printing &stationary|||355||355|Usage|
|Subscriptions|||45|22|23|Usage|
|Legal &professional|||4,221|725|3,496|Activity|
|Computer
leasing||&maintenance|271||271||
|International|field|office contribution|1,275||1,275||
|Management|recharges||16,353|13,633|2,720|Activity|
|Other direct|costs||28,973||23,723||
|Other governance||costs|9,750|9,750||Usage|
||||125,779|24,282|101,497||
##
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##
|Governa|nce|costs||||
|---|---|---|---|---|---|
|||||2021|2020|
|Establishment
General and||costs (above)
office expenses (above)||152
~14 80|5,119
143,338|
|||||14,532|150,457|
|Auditors'|remuneration|||9,750|9,250|
|Conference/committee|||expenses||11,416|
|||||24482|171,123|
##
##
|TRUSTEES' REMUNE|RATION
AND BENEFITS|||
|---|---|---|---|
|||2021|2020|
|Wages paid to employees|who were also trustees at the time:|||
|JWatkins|||402|
##
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##
|||||2021|2020|
|---|---|---|---|---|---|
|Costs directly allocated to activities:||||||
|Gross Salaries||||113,066|574,204|
|Employer's|National|Insurance||4,408||
||||||28,255|
|Employer's|Pension|Contribution||2,012|10,974|
|||||119,406|613,433|
|Support costs allocated to activities:||||||
|Gross Salaries|||||133,741|
|Employer's|National|Insurance||||
||||||13,377|
|Employer's|Pension|Contributions|||3,711|
||||||130,029|
|||||119,486|764,262|
|The average|monthly|number ofemployees|during the year was as follows:|||
||||||Period|
||||||1.2.19|
|||||Year Ended|to|
|||||31.3.21|31.3.20|
|Full time and part time||||8|51|
##
##
##
|NOTE|S TO THE FINANCIAL STATEMENTS - continued
for the year ended 31March 2021|S TO THE FINANCIAL STATEMENTS - continued
for the year ended 31March 2021|S TO THE FINANCIAL STATEMENTS - continued
for the year ended 31March 2021|||
|---|---|---|---|---|---|
|COMPARATIVES FOR|THE STATEMENT OF FINANCIAL ACTIVITIES|||||
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
|INCOME AND ENDOWMENTS||FROM||||
|Donations
and legacies|||14,241|155,798|170,039|
|Sale ofBibles &Christian|Literature||3,378,926||3,378,926|
|Investment
income|||703||703|
|Other income|||169,286||169,286|
|Total|||3,563,156|155,798|3,718,954|
|EXPENDITURE ON||||||
|Raising funds trading activities||||||
|Other trading activities|||3,152,259||3,152,259|
||||3,152,259||3,152,259|
|Charitable
activities||||||
|Support costs||||||
||||1,037,352||1,037,352|
|Distributions
to members||||110,484|110,484|
|Other|||3,179,349||3,179,349|
|Total|||7,368,960|110,484|7,479,444|
|NET INCOME/(EXPENDITURE)|||(3,805,804)|45,314|(3,760,490)|
|Transfers
between funds|||~1,150)|1,150||
|Net movement
in funds|||(3,806,954)|46,464|(3,760,490)|
|RECONCILIATION
OF|FUNDS|||||
|Total funds brought forward|||7,649,860|112,206|7,762,066|
|TOTAL FUNDS CARRIED FORWARD|||3,842,906|158,670|4,001,576|
##
##
|INTANGIBLE FIXEDASSETS||
|---|---|
||Goodwill|
|COST||
|At 1 April 2020 and 31 March 2021|23,000|
|AMORTISATION||
|At 1 April 2020 and 31 March 2021|23,000|
|NET BOOK VALUE||
|At 31 March 2021||
##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
||||Improvements|
||Freehold|Long|to|
||property|leasehold|property|
|COSTOR VALUATION||||
|At I April 2020|3+29+15|101+54|15,965|
|Additions|350,000|||
|Disposals
Revaluations|(507,500)
~3815)|||
|At 31 March 2021|3,168,000|~101 54|15,965|
|DEPRECIATION||||
|At 1 April 2020||15,810|14,088|
|Charge for year||5078|663|
|At 31 March 2021||20888|14751|
|NET BOOK VALUE
At 31 March 2021|3168000|80666|~114|
|At 31 March 2020|3,329,315|85,744|1,877|
##
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##
||||Computer||
|---|---|---|---|---|
|||Fixtures|and||
||Plant and|and|oAice||
||machinery|fittings|equipment|Totals|
|COST OR VALUATION|||||
|At
1 April 2020|2+17|49,039|57448|3,555,538|
|Additions||||350,000|
|Disposals
Revaluations||||(507+00)
~3815)|
|At 31 March 2021|2+17|49,039|~57 48|3394423|
|DEPRECIATION|||||
|At 1 April 2020
Charge for year|2/17|33,123
~548|56,012
1336|121/50
~12 25|
|At 31 March 2021|~217|~38 71|57+48|133675|
|NET BOOK VALUE|||||
|At 31 March 2021|||||
|At 31 March 2020||15,916|1,336|3,434,188|
##
##
|STOCKS|||
|---|---|---|
||2021|2020|
|Stocks|41 655|165,193|
|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR|||
||2021|2020|
|Trade debtors|368489|42,344|
|Other debtors and prepayments|21,408|41,182|
|VAT|478|10,893|
||390,175|94,419|
##
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|18.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YE|AR||
|---|---|---|---|
|||2021|2020|
||Bank loans and overdrafis (see note 20)|4,167||
||Trade creditors|20,492|26,233|
||Social security
and other taxes|230|3,377|
||Sundry creditors and accruals|22 615|173,461|
|||47,504|203,071|
|19.|CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR|||
|||2021|2020|
||Bank loans (see note 20)|~45 833||
|20.|LOANS|||
||An analysis ofthe maturity ofloans is given below:|||
|||2021|2020|
|||f,||
||Amounts
falling due within one year on demand:|||
||Bank loans|~4167||
||Amounts
falling between one and two years:|||
||Bank loans - 1-2 years|~10 000||
||Amounts
falling due between two and five years:|||
||Bank loans - 2-5 years|~35 833||
##
||2021|2020|
|---|---|---|
|Within one year|23433|122,561|
|Between one and five years||23,333|
||23433|145,894|
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|||||At 1 April|Provision|At 31March 2021|At 31March 2021|
|---|---|---|---|---|---|---|---|
|||||2020|movement|||
||||||f,|||
||Dilapidation|provision||45 472|30972||14500|
|23.|MOVEMENT
IN FUNDS|||||||
|||||Net|Transfers|||
|||||movement|between||At|
||||At 1.4.20|in funds|funds||31.3.21|
||Unrestricted|funds||||||
||General fund
Revaluation|fund|1407,689
~235417|272,725
~3,815)|415,991
~415991||2,196,405
1915,411|
||||3,842,906|268,910|||4,111,816|
||Restricted funds|||||||
||Mission Fund||158,670|36,638|||195/08|
||TOTAL FUNDS||~4,001 76|305 548|||4407 124|
||Net movement
in funds, included||in the above are as follows:|||||
||||Incoming|Resources|Gains and||Movement|
||||resources|expended|losses||in funds|
||Unrestricted|funds||||||
||General fund
Revaluation|fund|698,438|(425,713)|~3815)||272,725
~3815)|
||||698,438|(425,713)|(3,815)||268,910|
||Restricted funds|||||||
||Mission Fund||135,778|(99,140)|||36,638|
||TOTAL FUNDS||~834
16|~524 853|~3~815)||305548|
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||||||||Net|Transfers||
|---|---|---|---|---|---|---|---|---|---|
||||||||movement|between|At|
||||||At 1.2.19||in funds|funds|31.3.20|
|Unrestricted
funds||||||||||
|General fund
Revalusjtion
fund|||||4,470,806
3,179,054||(3,805,804)|842,687
~843,837)|1,507,689
2,335,217|
||||||7,649,860||(3,805,804)|(1,150)|3,842,906|
|Restricted funds||||||||||
|Mission Fund|||||112,206||45,314|1,150|158,670|
|TOTAL FUNDS|||||7,762,066|||||
|Comparative
net|movement|in funds,||included|in the above|are as follows:||||
||||||||Incoming|Resources|Movement|
||||||||resources|expended|in funds|
|Unrestricted
funds||||||||||
|General fund|||||||3,563,156|(7,368,960)|(3,805,804)|
|Restricted funds||||||||||
|Mission~Fund|||||||155,798|(110,484)|45,314|
|TOTAL FUNDS|||||||3,718,954|~7,479,444)|~3,760,490)|
|The unrestricted|funds ofthe Charity|||include|the following|designated
funds:||||
|Fixed Asset Revaluation||Fund||||||2021|2020|
|Net funds at I April 2020||||||||2/35/17|3„179,054|
|Unrealised
gain on revaluation
ofproperties
Realised~ gain on sale ofproperties||||||||(3,815)
~415991)~843,837)||
|Net funds at31|March 2021|||||||1915411|2,335,217|
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