REGISTERED CHARITY NUMBER: 1015793
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
FOR
CLC INTERNATIONAL (UK)
Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA
CLC INTERNATIONAL (UK)
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2022
| Page | |||
|---|---|---|---|
| Reference and administrative details | 1 | ||
| Report of the trustees | 2 | to | 4 |
| Independent examiner's report | 5 | ||
| Statement of financial activities | 6 | ||
| Balance sheet | 7 | ||
| Notes to the financial statements | 8 | to | 17 |
| Detailed statement of financial activities | 18 | to | 19 |
CLC INTERNATIONAL (UK)
REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31 March 2022
TRUSTEES J Watkins G Chamberlin W MacKenzie Mrs E Dowey W Owen (Chair) Mrs L Owen P Dalton PRINCIPAL ADDRESS Unit 5 Glendale Avenue Sandycroft Deeside CH5 2QP
REGISTERED CHARITY NUMBER 1015793
INDEPENDENT EXAMINER
Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA
Page 1
CLC INTERNATIONAL (UK)
REPORT OF THE TRUSTEES for the year ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. 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
Charitable Activities
The purpose of CLC International (UK) (hereafter referred to as CLC) is the propagation of the Christian Gospel by the sale and distribution of Bibles and Christian literature. CLC recognises Christian literature to be one of the most effective means for the evangelisation of the world and the edification of the church and seeks to help meet the worldwide need for Christian literature true to the Word of God and the fundamentals of the Christian faith. The trustees have continued to adopt policies to meet the objectives of CLC in furthering those aims in the sale and distribution of Bibles and Christian literature throughout the world.
CLC engages volunteers and paid employees throughout the UK to work within the bookshops, the wholesale facility, a website and in management and administrative roles in order to sell and distribute Bibles, Christian literature, and other Christian resources. Such members receive no salary from the charity, but rely on gifts received by the charity together with personal gifts to enable them to carry out its charitable objectives.
Public benefit
The trustees have had regard to Charity Commission guidance on public benefit and consider that the objectives, aims and achievements of the charity described in the report enable it to meet its duty to the Charity Commission as per section 17 of the Charities Act 2011, and to the benefit of the public.
Financial Support to CLC Members
Where reserves are available in the Mission Fund, CLC provides financial support to some of its members. CLC is not under a legal obligation to make such payments, and such financial support that is received is not remuneration for voluntary services. The policy for dividing the Mission Fund amongst members is determined by the trustees.
ACHIEVEMENT AND PERFORMANCE
Review of the Development Activities and Achievements and Future Plans
The trustees are pleased and thankful to report that the charity has come through the unprecedented and challenging impacts of the coronavirus and governmental lockdown restrictions in a stronger place.
During the year the trustees, having reviewed some of the trading activities in the continually struggling retail sector, completed their strategy to close its UK Christian retail bookshops. This effectively ends this significant, particularly in recent years, loss-making activity. This has been achieved by closing businesses by terminating leases or not renewing as leases ended and paying sums for dilapidations where necessary.
As at the year end the charity has a portfolio solely of residual properties valued at £3.1m.
During the year we have followed our prime objective of spreading the Christian gospel and this is shown in the accounts by a £65,000 donation and £26,106 physical Christian products given to Kingsway CLC Trust and £35,000 to CLC International Office to support various Christian international projects and £15,000 of various donations to help fund UK based projects.
Page 2
CLC INTERNATIONAL (UK)
REPORT OF THE TRUSTEES for the year ended 31 March 2022
FINANCIAL REVIEW
Financial position
Total resources expended includes accommodation costs relating to properties rented by CLC and made available to a trustee and the volunteers to enable them to meet the obligations under the constitution of CLC in furthering the aims of CLC in the sale and distribution of Bibles and Christian literature. Accommodation costs include rent, rates and light and heat and the amounts paid by CLC for the members are disclosed separately in the financial statements. Some members also live in properties owned by CLC and no rents are charged. The accommodation arrangement is by permission of the trustees.
The financial accounts disclose that the total income for the year ended 31 March 2022 totalled £103,285, a decrease of £730,931, with income from trading activities accounting for £344 (2021: £101,716). After taking into account direct and overhead trading costs, as well as grants and exceptional items, the charity made a net deficit of £169,312 (2021: £305,548 surplus).
The trustees have revalued the properties based on current market conditions and the current state of properties to fair value at the balance sheet date. The last professional valuation of the properties was carried out in 2014. However, management have used online resources and informal talks with local agents to revalue the portfolio of properties and consider this to be a sufficiently accurate method for the purposes of valuation.
The unrestricted fund consists of the general fund and the revaluation fund and totalled £3,958,385 at the year end, a decrease of £153,431 on the previous year and a reflection of the charitable activities during the year.
The level of reserves is continually under review to ensure that adequate reserves are always available. The reserves at 31 March 2022 stood at £4,137,812, with freely available reserves deemed to stand at £3,958,385. This is to ensure that the Charity can meet its objectives, and the trustees are satisfied that on a fund for fund basis, CLC have sufficient assets to fulfil the obligations of the Charity.
The total restricted funds held at the balance sheet date totalled £179,427 (2021: £195,308), and the balance is restricted to the Mission Fund, as contributions to volunteers' living expenses.
The revaluation fund totalling £1,836,632 at 31 March 2022 (2021: £1,915,411) can only be realised upon the sale of properties to which it relates.
Going concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
CLC International (UK) was founded in 1941 by way of a Trust Deed as an international and inter-denominational Charity.
Recruitment and appointment of new trustees
There can be up to nine CLC trustees of which at least two must not be CLC members. Appointments are for a term of five years. New trustees are appointed by the existing trustees at a special meeting which may be called by the chair, or any two trustees, at any time on giving at least fourteen days notice.
Organisational structure
All senior appointments are made by the trustees. Day to day management is under the control of the Leadership Team but clearly defined "major decisions" are the province of the trustees alone.
Risk Assessment
The risks which might result in harm or injury to personnel or create situations that might threaten the day to day effective continuation of the CLC ministry are subject to review by the Leadership Team on behalf of the trustees. This is an on-going exercise with regular assessments undertaken to ensure risks are minimised.
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CLC INTERNATIONAL (UK)
REPORT OF THE TRUSTEES for the year ended 31 March 2022
Approved by order of the board of trustees on 15 November 2022 and signed on its behalf by:
W Owen (Chair) - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CLC INTERNATIONAL (UK)
Independent examiner's report to the trustees of CLC International (UK)
I report to the charity trustees on my examination of the accounts of CLC International (UK) (the Trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Paul Allan BSocSc FCA (Senior Statutory Auditor) ICAEW Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA
15 November 2022
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CLC INTERNATIONAL (UK)
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Sale of Bibles & Christian Literature 2 Investment income 3 Other income 4 Total EXPENDITURE ON Raising funds trading activities Other trading activities Charitable activities Support costs Distributions to members Other Total NET INCOME/(EXPENDITURE) Other recognised gains/(losses) Gains/(losses) on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 70 344 475 53,404 54,293 19,876 19,876 158,742 - 29,106 207,724 (153,431) - (153,431) 4,111,816 3,958,385 |
Restricted funds £ 48,992 - - - 48,992 - - - 64,873 - 64,873 (15,881) - (15,881) 195,308 179,427 |
2022 Total funds £ 49,062 344 475 53,404 103,285 19,876 19,876 158,742 64,873 29,106 272,597 (169,312) - (169,312) 4,307,124 4,137,812 |
2021 Total funds £ 498,339 101,716 151 234,010 834,216 264,323 264,323 125,779 99,140 35,611 524,853 309,363 (3,815) 305,548 4,001,576 4,307,124 |
|---|---|---|---|---|
The notes form part of these financial statements
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CLC INTERNATIONAL (UK)
BALANCE SHEET 31 March 2022
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Stocks 10 Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 13 PROVISIONS FOR LIABILITIES 16 NET ASSETS FUNDS 17 Unrestricted funds: General fund Revaluation fund Restricted funds TOTAL FUNDS |
Unrestricted funds £ 3,102,641 - 410,823 537,501 948,324 (64,640) 883,684 3,986,325 (27,940) - 3,958,385 |
Restricted funds £ - - - 179,427 179,427 - 179,427 179,427 - - 179,427 |
2022 Total funds £ 3,102,641 - 410,823 716,928 1,127,751 (64,640) 1,063,111 4,165,752 (27,940) - 4,137,812 2,121,753 1,836,632 3,958,385 179,427 4,137,812 |
2021 Total funds £ 3,260,548 41,655 390,175 722,583 1,154,413 (47,504) 1,106,909 4,367,457 (45,833) (14,500) 4,307,124 2,196,405 1,915,411 4,111,816 195,308 4,307,124 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 15 November 2022 and were signed on its behalf by:
W Owen (Chair) - Trustee
The notes form part of these financial statements
Page 7
CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Turnover from the sales of bibles and Christian literature is brought into account as receivable for the year and excludes VAT.
Donations, legacies and gifts are recognised when received or when CLC becomes legally entitled to them having been notified in writing of both the amount and settlement date. Donations are allocated specifically at the request of the donor, or to the general fund for volunteers. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either of those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution.
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.
Rental income is generated from properties previously held for housing volunteers in areas of the country that the charity no longer has any operations. Currently the charity does not consider the properties to be investment properties, but this may change in future years.
Government Grants
Government grants are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis, exclusive of any VAT.
Expenditure which is directly attributable to specific activities has been included in these cost categories. Costs have been allocated to specific departments on a usage basis, as a result no further allocation of costs is required. There are no costs to be allocated to the cost of generating voluntary income.
Distributions to volunteers and centres are recognised on commitment to payment and are included in charitable expenditure. Staff costs have been included in charitable expenditure.
Governance costs includes all expenditure not directly related to the charitable activity. These costs include audit fees, conference, meetings and trustees costs and the allocation of establishment and office costs relating to the leadership, administration and finance offices.
continued...
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
1. ACCOUNTING POLICIES - continued
Expenditure
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Fund accounting
Unrestricted funds comprise of a general fund which can be used in accordance with the charitable objectives at the discretion of the trustees, and a revaluation fund which is realised and transferred to the general fund upon the sale of the revalued property or properties to which the fund relates.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. The mission fund is a restricted fund to provide financial support to CLC members that are in need.
Allocation and apportionment of costs
In accordance with SORP FRS 102, governance costs have been included within support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs relating to statutory audit and legal fees together with the apportionment of overhead and support costs.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Long leasehold | - over period of lease |
|---|---|
| Improvements to property | - at varying rates on cost |
| Plant and machinery | - 20% on cost |
| Fixtures and fittings | - at varying rates on cost |
| Computer and office equipment | - 33% on cost |
The properties are included in the financial statements at fair value as at the balance sheet date. No depreciation is provided in respect of the freehold properties. This policy of non-depreciation, is, in the opinion of the trustees, necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards as the properties are included in the financial statements at appropriate value. The properties will maintain a long useful economic life and high residual value through the policy of regular maintenance and repair (charges for which are recognised in the Statement of Financial Activities) such that the assets are kept to the previously assessed levels.
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 tax on its charitable activities.
Personnel
CLC employs and remunerates staff where required. CLC distributes accommodation costs in respect of some of its non-paid members which are part of the establishment costs as summarised in the accounts. Distributions are restricted specific and general allocations from donations received by the CLC.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charges as incurred.
Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on property sales are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year.
continued...
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
1. ACCOUNTING POLICIES - continued
Charitable activities
Costs of charitable activities include costs in connection with the sale of Bibles and Christian literature, governance costs and an apportionment of support costs as shown in note 8.
Pensions
Employees of the charity may be entitled to join a defined contribution scheme. The costs of the defined contribution scheme are included within support and governance costs and charged to the unrestricted funds of the charity.
The plan is managed by The People's Pension Trustee Limited and invests the contributions made by the employee and employer in an investment fund to build up over the term of the plan. The pension fund is converted into a pension upon the employee's normal retirement age which is defined as when they are eligible for state pension. The charity has no liability beyond making its contributions and paying across the deductions for the employee's contributions.
Trade and other debtors
Trade and other debtors are recognised in the accounts are fair value on the date of the transaction. Impairments are recognised in the Statement of Financial Activities in the reporting period.
Trade and other creditors
Trade and other creditors are recognised in the accounts are fair value on the date of the transaction. Impairments are recognised in the Statement of Financial Activities in the reporting period.
Contingent liabilities
A contingent liability is identified and disclosed for those expenses resulting from:
-a possible obligation which will only be confirmed by the occurrence of one or more uncertain future events not wholly within the trustees' control; or
-a present obligation where settlement is either not considered probable; or
-the amount has not been communicated and therefore cannot be estimated reliably.
2. SALE OF BIBLES & CHRISTIAN LITERATURE
| 2. SALE OF BIBLES & CHRISTIAN LITERATURE |
||
|---|---|---|
| Branch retail sales 3. INVESTMENT INCOME Deposit account interest |
2022 £ 344 2022 £ 475 |
2021 £ 101,716 |
| 2021 £ 151 |
continued...
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
4. OTHER INCOME
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Profit/(loss) on disposal of fixed assets | (11,319) | (15,218) |
| Rental income | 60,478 | 70,911 |
| HMRC Job Retention Scheme | 4,245 | 62,674 |
| Business Support Grants | - | 115,643 |
| 53,404 | 234,010 | |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Full time and part time No employees received emoluments in excess of £60,000. |
2022 1 |
2021 8 |
|---|---|---|
All staff have now been transferred over to Kingsway CLC Trust.
7. EXCEPTIONAL ITEMS
In 2019 CLC transferred its wholesale and ecommerce divisions as well as its warehouse and offices in Sandycroft, warehouse stock, trade debtors and creditors to Kingsway CLC Trust, a Charity Company limited by guarantee.
In 2021, following the closure of three shops, stock totalling £35,611 was donated to Kingsway CLC Trust and in 2022, the stock from the remaining shops was donated to Kingsway CLC Trust, totalling £26,106.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Sale of Bibles & Christian Literature Investment income Other income Total EXPENDITURE ON Raising funds trading activities Other trading activities |
Unrestricted funds £ 362,561 101,716 151 234,010 698,438 264,323 |
Restricted funds £ 135,778 - - - 135,778 - |
Total funds £ 498,339 101,716 151 234,010 |
|---|---|---|---|
| 834,216 | |||
| 264,323 |
continued...
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Charitable activities Support costs Distributions to members Other Total NET INCOME Other recognised gains/(losses) Gains/(losses) on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 9. TANGIBLE FIXED ASSETS COST OR VALUATION At 1 April 2021 Additions Disposals At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year Eliminated on disposal At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
Unrestricted funds £ 264,323 125,779 - 35,611 425,713 272,725 (3,815) 268,910 3,842,906 4,111,816 Freehold property £ 3,168,000 - (145,000) 3,023,000 - - - - 3,023,000 3,168,000 |
Restricted funds £ - - 99,140 - 99,140 36,638 - 36,638 158,670 195,308 Long leasehold £ 101,554 - - 101,554 20,888 5,078 - 25,966 75,588 80,666 |
Total funds £ 264,323 125,779 99,140 35,611 524,853 309,363 (3,815) 305,548 4,001,576 4,307,124 Improvements to property £ 15,965 4,310 (13,315) 6,960 14,751 1,471 (13,315) 2,907 4,053 1,214 |
||
|---|---|---|---|---|---|
continued...
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
9. TANGIBLE FIXED ASSETS - continued
| COST OR VALUATION At 1 April 2021 Additions Disposals At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year Eliminated on disposal At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
Plant and machinery £ 2,317 - (2,317) - 2,317 - (2,317) - - - |
Fixtures and fittings £ 49,039 - (49,039) - 38,371 2,506 (40,877) - - 10,668 |
Computer and office equipment £ 57,348 - (57,348) - 57,348 - (57,348) - - - |
Totals £ 3,394,223 4,310 (267,019) |
|---|---|---|---|---|
| 3,131,514 | ||||
| 133,675 9,055 (113,857) |
||||
| 28,873 | ||||
| 3,102,641 | ||||
| 3,260,548 |
The freehold and long-term leasehold properties were last valued in 2018. The trustees have reviewed the market movements since then and deemed there have been no material changes. The historic cost of the freehold properties held at 31st March 2022 is £1,186,369 (2021: £1,252,588). The properties were last revalued professionally in 2014 by Howell Brooks, Chartered Surveyors.
10. STOCKS
| 10. STOCKS |
|||
|---|---|---|---|
| Stocks 11. DEBTORS Amounts falling due within one year: Trade debtors Other debtors and prepayments VAT Amounts falling due after more than one year: Other debtors Aggregate amounts |
2022 £ - 2022 £ - 205,000 5,823 210,823 200,000 410,823 |
2021 £ 41,655 2021 £ 368,289 21,408 478 |
2021 £ 41,655 |
| 390,175 | |||
| - | |||
| 390,175 |
continued...
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 14) Trade creditors Social security and other taxes Sundry creditors and accruals 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 14) 14. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years 15. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: Within one year |
2022 £ 9,707 22,407 - 32,526 64,640 2022 £ 27,940 2022 £ 9,707 9,950 17,990 2022 £ - |
2021 £ 4,167 20,492 230 22,615 |
|---|---|---|
| 47,504 | ||
| 2021 £ 45,833 |
||
| 2021 £ 4,167 |
||
| 10,000 | ||
| 35,833 | ||
| 2021 £ 23,333 |
Included in the Statement of Financial Activities in the financial year is the amount of £22,500 (2021: £122,561) recognised as an expense in relation to lease payments.
continued...
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
16. PROVISIONS FOR LIABILITIES
| At 1 April At 2021 Paid in year £ £ Dilapidation provision 14,500 (14,500) 17. MOVEMENT IN FUNDS Net Transfers movement between At 1.4.21 in funds funds £ £ £ Unrestricted funds General fund 2,196,404 (153,431) 78,780 Revaluation fund 1,915,412 - (78,780) 4,111,816 (153,431) - Restricted funds Mission Fund 195,308 (15,881) - TOTAL FUNDS 4,307,124 (169,312) - Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 54,293 (207,724) Restricted funds Mission Fund 48,992 (64,873) TOTAL FUNDS 103,285 (272,597) Comparatives for movement in funds Net Transfers movement between At 1.4.20 in funds funds £ £ £ Unrestricted funds General fund 1,507,689 272,725 415,991 Revaluation fund 2,335,217 (3,815) (415,991) 3,842,906 268,910 - Restricted funds Mission Fund 158,670 36,638 - TOTAL FUNDS 4,001,576 305,548 - |
At 1 April 2021 |
At 1 April 2021 |
At 1 April 2021 |
Paid in year | Paid in year | Paid in year | At | 31 March 2022 |
|
|---|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | |||||||
| 14,500 | (14,500) | - | |||||||
| Net movement in funds £ (153,431) - (153,431) (15,881) (169,312) Incoming resources £ 54,293 48,992 103,285 Net movement in funds £ 272,725 (3,815) 268,910 36,638 305,548 |
Transfers between funds £ 78,780 (78,780) - - - Resources expended £ (207,724) (64,873) (272,597) Transfers between funds £ 415,991 (415,991) - - - |
At 31.3.22 £ 2,121,753 1,836,632 3,958,385 179,427 4,137,812 Movement in funds £ (153,431) (15,881) (169,312) At 31.3.21 £ 2,196,405 1,915,411 4,111,816 195,308 4,307,124 |
|||||||
Page 15
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Revaluation fund Restricted funds Mission Fund TOTAL FUNDS |
Incoming resources £ 698,438 - 698,438 135,778 834,216 |
Resources expended £ (425,713) - (425,713) (99,140) (524,853) |
Gains and Movement losses in funds £ £ - 272,725 (3,815) (3,815) (3,815) 268,910 - 36,638 (3,815) 305,548 |
Gains and Movement losses in funds £ £ - 272,725 (3,815) (3,815) (3,815) 268,910 - 36,638 (3,815) 305,548 |
|---|---|---|---|---|
| 268,910 36,638 |
||||
| 305,548 |
The unrestricted funds of the Charity include the following designated funds:
| Fixed Asset Revaluation Fund | 2022 | 2021 |
|---|---|---|
| £ | £ | |
| Net funds at 1 April 2021 | 1,915,411 | 2,335,217 |
| Unrealised gain on revaluation of properties | - | (3,815) |
| Realised gain on sale of properties | (78,780) | (415,991) |
| Net funds at 31 March 2022 | 1,836,631 | 1,915,411 |
The restricted fund relates to the Mission Fund, which provides financial support to CLC members that are in need.
18. RELATED PARTY DISCLOSURES
CLC International is a related party due to a mutual trustee. A Field Contribution of £nil (2021: £1,275) was paid to CLC International during the year. £35,000 was paid as a donation during the year to 31 March 2022.
Christian Focus Publications Ltd is a related party due to one trustee being a director of this company. During the year £nil (2020: £44,469) was purchased from them, with £nil (2021: £14,183) outstanding as at 31 March 2022.
Kingsway CLC Trust is a related party due to mutual trustees. By an Asset Transfer Agreement on 1 August 2019, CLC transferred assets totalling £3,179,349 to Kingsway CLC Trust, a Charity Company limited by guarantee. Company No 1093879 and Charity Number 265612. During this process CLC transferred its wholesale and ecommerce divisions as well as its warehouse and offices in Sandycroft, warehouse stock, trade debtors and creditors. 32 CLC employees were transferred to Kingsway under the TUPE arrangement, with the remaining employees transferred in this year. During the year £nil (2021: £16,353) was charged to CLC for management charges and £nil (2021: £44,160) was purchased from them. As at 31 March 2022 £405,000 was owed by Kingsway CLC Trust, relating to a loan made during the year, and £29,526 was due to Kingsway CLC Trust. £65,000 was paid as a donation to Kingsway CLC Trust during the year to 31 March 2022, in addition to the donation of Christian products to the value of £26,106.
Key management personnel
On 1 August 2019 all key personnel were transferred to Kingsway CLC Trust. Included in wages and salaries is the remuneration paid to key management personnel of the charity during the financial period with the total employment benefits including employer pension contributions being £nil (2021 : £nil).
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2022
19. GRANTS PAID TO INSTITUTIONS
During the year, grants were made to the following institutions:
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Kingsway CLC Trust | 65,000 | - | |
| CLC International (Missions) | 35,000 | - |
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CLC INTERNATIONAL (UK)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Sale of Bibles & Christian Literature Branch retail sales Investment income Deposit account interest Other income Gain on sale of tangible fixed assets Rents received Business support grants HMRC Job Retention Scheme Total incoming resources EXPENDITURE Other trading activities Opening stock Purchases Gross salaries Social security Packing, postage and carriage Sales commission and samples Closing stock Charitable activities Rent - Members Rent - Retail General rates and water Retail Light and Heat - Retail Telephone Repairs Insurance Cleaning Less governance costs Travelling and motor expenses Event costs Advertising and promotion Printing and stationery Carried forward |
2022 £ 49,062 344 475 (11,319) 60,478 - 4,245 53,404 103,285 41,655 (26,061) 3,557 725 - - - 19,876 4,500 24,049 6,976 469 4 4,639 5,600 - - 193 - - - 46,430 |
2021 £ 498,339 101,716 151 (15,218) 70,911 115,643 62,674 234,010 834,216 165,193 17,583 113,067 6,419 3,321 395 (41,655) 264,323 6,935 58,214 2,573 6,473 3,807 3,888 7,628 320 (152) 2,291 30 642 355 93,004 |
|---|---|---|
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CLC INTERNATIONAL (UK)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022
| Charitable activities Brought forward Subscriptions and donations Credit card charges Training costs Bad and doubtful debts Computer leasing, maintenance & Software Equipment leasing and maintenance Welfare expenses International Office field contribution Less governance costs Bank charges Legal and professional Kingsway CLC management fee Dilapidation provision Restricted gifts Monthly living allowance - payable to retirees Depreciation of tangible fixed assets Grants to Christian registered charities Support costs Management Exceptional items Governance costs Auditors' remuneration Accountancy and legal fees Establishment costs General & office expenses Total resources expended Net (expenditure)/income |
2022 £ 46,430 35 - - 587 218 - 163 - (959) 1,295 959 - - 43,315 21,558 9,055 100,000 222,656 26,106 - 3,000 - 959 3,959 272,597 (169,312) |
2021 £ 93,004 45 4,306 247 4,947 271 36 857 1,275 (14,380) 1,005 4,221 16,353 (23,015) 72,360 26,780 12,325 - 200,637 35,611 9,750 - 152 14,380 24,282 524,853 309,363 |
|---|---|---|
This page does not form part of the statutory financial statements
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