Draft 14/10/21
Financial Statements of Spanish Gospel Mission A company limited by guarantee Registered number: 02775700 Registered charity number: 1017224
31 December 2020
Adauxi Limited, Certified Practising Accountants
Wellington House 90-92 Butt Road Colchester, Essex, CO3 3DA 01206 617 337 accountants@adauxi.com
Draft 14/10/21
Financial Statements of Spanish Gospel Mission Contents
| Page | |
|---|---|
| Company Information | 1 |
| Report of the Trustees | 2 |
| Accountants' Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Accounts | 9 |
| Detailed Statement of Financial Activities | 12 |
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Draft 14/10/21
Spanish Gospel Mission Company Information
Directors
Mrs J. Thackeray P. E. Cresswell W. P. Thackeray C. L. Pomeroy M. C. Lane S. Nowak
Secretary
D. Cogman
Accountants
Adauxi Limited Wellington House 90-92 Butt Road Colchester Essex CO3 3DA
Bankers
National Westminster Bank PLC 14 Market Place Brigg Lincolnshire DN20 8ES
Solicitors
Pothecary & Barrett 70 St George's Square London SW1V 3RD
Registered office
16 Kildermorie Close, St Johns Colchester CO4 0NW
Registered number
02775700
Registered charity number
1017224
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Draft 14/10/21
Spanish Gospel Mission Report of the Trustees
(Registered number: 02775700)
The directors present their twenty-fifth Annual Report and Financial Statements of the Company for the year ended 31 December 2020.
Objectives and Activities
The Mission is established for the advancement of evangelical Chrisitianity in Spain. To this end it supports financially, practically and in prayer the activities of its sister organisation Misión Evangélica Española.
These aims are carried out through pastoral and evangelistic work in 3 churches in Spain and through the operation of the Mission House, a Christian conference centre.
We believe these aims are of public benefit. Due to COVID-19 restrictions a number of normal activities were not able to take place. Those that could were limited to:
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Sunday services at the 3 churches in Spain which are open to everyone.
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Other Bible-based activities in these churches. The distribution of a twice-yearly magazine and a monthly prayer update to supporters of the
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● Mission in the UK.
There changes since the last report are:
- Simon Nobbs became Treasurer and Director in October 2020.
Structure, Governance and Management
The Company is a registered charity under a Trust Deed registered with the Charities Commission.
The Memorandum and Articles of Association set this out. We also have a set of Principles and Practices which cover some of the day-today matters affecting the running of the Mission.
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Draft 14/10/21
Spanish Gospel Mission Report of the Trustees
(Registered number: 02775700)
Selection of Trustee Board Directors:
First and foremost we look for those who are evangelical christians with an interest in the proclamation of the gospel in general and in Spain in particular. Within those parameters our aim is to have a balance of skills and experience appropriate to the work of the Mission. Suitable candidates are generally drawn from those with whom we have had previous contact in a variety of ways.
The following persons served as directors of the Company throughout the year:
Mrs J. Thackeray P. E. Cresswell W. P. Thackeray C. L. Pomeroy M. C. Lane S. Nowak
The Directors retiring by rotation are C. L. Pomeroy and S. Nowak who, being eligible, offer themselves for re-election.
All Directors are members of the Company and guarantee to contribute to the assets of the Company in the event of it being wound up such amounts as may be required not exceeding £1.
Achievements and Performance
The Mission continues to support pastoral and evangelistic work in three evangelical churches in Spain as well as similar work in a number of other locations where there is no formal church connection. Work continued on the renovation of the Mission House in Valdepenas. The Mission House now hosts classes as part of a three year theological seminary course.
The Risks to the Charity
The risk to the Charity is being dependent on donations being received which are by way of cheque and standing orders, but there are no systems to control this.
The geographical areas of operation and the scope of the work carried out by the Mission are such that we do not believe that our workers are subject to any risks over and above those of everyday life. There have been instances in other areas of the world of missionaries being taken captive and held to ransom. Although we see this as unlikely in the areas in which we operate, the Principles and Practices of the Mission set out our position in the event of such an occurrence.
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Draft 14/10/21
Spanish Gospel Mission Report of the Trustees
(Registered number: 02775700)
Financial Review
The trustees have established a reserves policy whereby the unrestricted funds are sufficient to cover 3 months' overhead expenses. However, as the Mission relies entirely on voluntary donations the degree to which this is achieved fluctuates.
£(10,432) A number of legacies were received reducing the Net Loss for the year to which is added to the balance brought forward of £34,781 Leaving to be carried forward a balance of £24,349
Plans for Future Periods
We have no specific plans for the future development of the work of the Mission. There are many areas of Spain with little or no clear gospel witness and our desire would be to extend the work into these areas. However, as has always been the case, we wait upon God to call men and women to serve Him in Spain and when that happened we would determine, in consultation with the workers in Spain, where such additional personnel could be best used.
Reference and Administrative Details
Name of the charity: Spanish Gospel Mission Registered charity number: 1017224 Registered office address: 16 Kildermorie Close, St Johns Colchester CO4 0NW
Directors' responsibilities
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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● prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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Draft 14/10/21
Spanish Gospel Mission Report of the Trustees
(Registered number: 02775700)
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with:
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the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime; and
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The Charities Statement of Recommended Practice: Small Charities and SORP 2005.
This report was approved by the board on 12 October 2021 and signed on its behalf.
M. C. Lane Director
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Draft 14/10/21
Spanish Gospel Mission Accountants' Report
Accountants' report to the directors of Spanish Gospel Mission
You consider that the company is exempt from an audit for the year ended 31 December 2020. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
This report is made solely to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Directors, as a body, for our work or for this report.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Adauxi Limited Certified Practising Accountants
Wellington House 90-92 Butt Road Colchester Essex CO3 3DA
12 October 2021
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Draft 14/10/21
Spanish Gospel Mission Statement of Financial Activities for the year ended 31 December 2020
| Notes Non-charitable income 4 Total incoming resources Resources expended Net incoming resources for the year Gross income of continuing operations |
Unrestricted Funds (General) Restricted Funds (Income) Total Funds 2020 2020 2020 £ £ £ 23,180 19,541 42,721 11 - 11 23,191 19,541 42,732 17,959 35,205 53,164 5,232 (15,664) (10,432) |
Total Funds 2019 £ 68,904 25 68,929 64,355 4,574 |
|---|---|---|
The Statement of Financial Activities is to be read in conjunction with the Notes to the Financial Statements, which form part of the financial statements.
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Draft 14/10/21
Spanish Gospel Mission Balance Sheet as at 31 December 2020
| Notes Fixed assets Tangible assets 5 Current assets Debtors 6 Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Net assets Income funds Designated income funds Unrestricted income funds 9 Total funds |
2020 £ - 4,506 21,103 25,609 (1,260) 24,349 24,349 3,264 21,085 24,349 |
2019 £ - 4,498 31,543 36,041 (1,260) 34,781 34,781 18,928 15,853 34,781 |
|---|---|---|
The Balance Sheet is to be read in conjunction with the Notes to the Financial Statements, which form part of the financial statements.
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
__ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ M. C. Lane W. P. Thackeray Director Director Approved by the board on 12 October 2021
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Spanish Gospel Mission Notes to the Financial Statements for the year ended 31 December 2020
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). The Financial Statements follow the recommendations in the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective 1 January 2015).
Voluntary income
Voluntary income is received by way of donations and gifts, and is recognised in full in the Statement of Financial Activities in the period in which it is received.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Restricted funds
Restricted funds relate to donations and/or legacies received in respect of designated gifts.
2 Employees
The Company does not have any employees of its own.
The Company does contribute (by way of donation) to the direct employment costs of employees of its sister organisation Misión Evangélica Española ("MEE"). The employees of MEE are referred to as workers in these financial statements.
At the end of the year there were 8 MEE workers and 0 volunteers in Spain (2019: 8 workers and 0 volunteers). No worker earns more than £60,000 per annum. There are 3 volunteers in the UK (2019: 5).
3 Taxation
The Company is a registered charity and the results of its normal activities are not liable to corporation tax.
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Draft 14/10/21
Spanish Gospel Mission Notes to the Financial Statements for the year ended 31 December 2020
| 4 Operating profit This is stated after charging: Accountancy fees Non-charitable income: bank interest received |
2020 £ 1,260 11 |
2019 £ 1,260 25 |
|---|---|---|
5 Tangible fixed assets
| Cost At 1 January 2020 At 31 December 2020 Depreciation At 1 January 2020 At 31 December 2020 Net book value At 31 December 2020 6 Debtors 2020 £ Other debtors 4,506 |
Improvements to Mission House £ 18,429 18,429 18,429 18,429 - 2019 £ 4,498 |
|---|---|
Other debtors comprise gift aid receivable in respect of voluntary donations. In the prior year, part of the balance was represented in donations received in Spain during December 2019.
| 7 | Creditors: amounts falling due within one year | 2020 2019 |
|---|---|---|
| Accrued expenses | £ £ 1,260 1,260 |
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Draft 14/10/21
Spanish Gospel Mission Notes to the Financial Statements for the year ended 31 December 2020
| 8 Designated fund At 1 January Restricted donations received Restricted donations spent At 31 December 9 Unrestricted income funds At 1 January Surplus(Deficit) for the year At 31 December |
2020 £ 18,928 19,541 (35,205) 3,264 2020 £ 15,853 5,232 21,085 |
2019 £ 40,453 21,271 (42,796) 18,928 2019 £ 11,279 4,574 15,853 |
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Draft 14/10/21
Spanish Gospel Mission Detailed Statement of Financial Activities for the year ended 31 December 2020
| Unrestricted Funds (General) Restricted Funds (Income) Total Funds 2020 2020 2020 £ £ £ Incoming resources Voluntary income Donations and gifts 23,180 19,541 42,721 23,180 19,541 42,721 Investment income Bank interest received 11 - 11 Total incoming resources 23,191 19,541 42,732 Resources expenses Donations for costs of Mission Evangelical Espanola Workers' wages 32,933 - 32,933 Gifts to workers (16,769) 33,652 16,883 16,164 33,652 49,816 Overhead expenses Insurance 531 - 531 Printing and stationery 1,255 - 1,255 Translation costs - - - Bank charges including currency conversions 254 - 254 2,040 - 2,040 Support costs in Spain Rent of housing and mortgage subsidies - - - Travelling expenses (1,553) 1,553 - (1,553) 1,553 - Governance costs Other legal and professional 48 - 48 Meeting expenses - - - Accountancy fees 1,260 - 1,260 1,308 - 1,308 Total resources expended 17,959 35,205 53,164 5,232 (15,664) (10,432) Net outgoing financial resources for the financial year |
Total Funds 2019 £ 68,904 68,904 25 68,929 21,730 33,652 55,382 530 2,603 830 657 4,620 957 1,626 2,583 35 475 1,260 1,770 64,355 4,574 |
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