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|Contents||Page|
|---|---|---|
|Report ofthe directors||1-10|
|Independent
auditor's|report|11-14|
|Statement offinancial|activities|15|
|Balance sheet||16|
|Cash flow statement||17|
|Notes to the financial|statements|18-35|
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||||o~|||2020|2019|
|---|---|---|---|---|---|---|---|
|||Note|+|||||
|Income and endowments|from:|||||||
|Donations
and legacies||2|2,725,637|234,631||2,960,268|2,643,441|
|Charitable
activities||3|72,554|||72,554|77,961|
|Investments||4|47987|||47987|54365|
|Total|||2 846 178|234 631|-|3 080,809|2775 767|
|Expenditure
on:||||||||
|Raising funds||5|76,673|||76,673|64,631|
|Charitable
activities||6|2,358,407|269,446||2,627,853|3,133,257|
|Charitable
activities- impairment||6|||||443486|
|Total|||2435,080|269446||2,704,526|3,641,374|
|Net income/(expenditure)
before movements
on|||411,098|(34,815)||376,283|(865,607)|
|Net
gains on investments||17|26,347|(1,439)|(42,611)|(17,703)|62,736|
|Net income/(expenditure)||10|437,445|(36,254)|(42,611)|358,580|(802,871)|
|Other recognised (losses)/gains:||||||||
|Actuarial (losses)r'gains|on|||||||
|defined benefit pension scheme||21|(32,000)|||(32,000)|(16,000)|
|Net movement
in funds|||405 445|36254|42 611|326 580|818871|
|ReconciTiation offunds:||||||||
|Total funds brought forward||11|3,962,453|78,128|423,567|4,464,148|5,283,019|
|Total funds carried forward|||4 367898|41 874|380956|4790728|4464 148|
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||Note|2020|2019|
|---|---|---|---|
|Fixed assets|||6|
|Tangible
assets|16|1,110,948|1,169,499|
|Investments|17|I 216026|I 533729|
|Current assets||2,326,974|2,703,228|
|Stocks|18|22,437|22,310|
|Debtors|19|1,044,883|739,606|
|Investments
- notice deposits &3 months||754,325|946,008|
|Property||300,000||
|Cash at bank and in hand||768 850|511161|
|||2,890,495|2,219,085|
|Creditors:
amounts
falling due||||
|within one year|20|117,741|159,165|
|1%etcurrent assets||2 772 754|2 059 9211|
|Total assets less current liabihties
Defined benegt scheme provision|21|5,099,728
~309000|4,763,148
~299000|
|Total net assets||4 790 728|4 464 148|
|The funds ofthe charity:||||
|Endowment
find|22,26|380,956|423,567|
|Restricted income funds|23,26|41,874|78,128|
|Unrestricted
funds:||||
|Designated
funds|24,26|3,810,357|3,412,679|
|General fund|25,26|557541|549 774|
|Total charity funds||4 790 728|4464 148|
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||||2020|2019|
|---|---|---|---|---|
|||Note|Total funds|Total funds|
|Cash flows from operating
activities:|||||
|Net cash provided
by operating activities||27|22 455|~363236|
|Cash flows from investing
activities:|||||
|Dividends,
interest and rents from investments|||39,671|42,374|
|Purchase ofproperty,
plant and equipment|||(4,437)|(559,136)|
|Sale ofLeasehold Property|||||
|Invest in notice deposit accounts o 3 months
Net cash provided by investing
activities|||200,000
235,234|300,000
~216762|
|Change in cash and cash equivalents
in the|reporting||||
|period|||257,689|(580,058)|
|Cash and cash equivalents
at the beginning|ofthe||||
|reporting
period|||511,161|1,091,219|
|Cash and cash equivalents
at the end ofthe|reporting||||
|period|||768 850|511,161|
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|||||||2020|2019|
|---|---|---|---|---|---|---|---|
|Donations||||||2,234,790|2,263,471|
|Legacies||||||690,693|379,970|
|Furlough|Grant|||||34,785||
|Donations|and|legacies|total|per|SOFA|2,960,268|2,643,441|
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|3.Income from charitable
activities||||
|---|---|---|---|
|||2020|~29|
|Ministry resource sales||24,928|39,854|
|Conference
income||3,812||
|Independently
funded Partners
and mid term|mission support income|13,767|8,821|
|Associates
income||1,420|1,133|
|Short term mission trip charges||125|2,728|
|Ancilliary
income derived &om St John's House||17,988|17,883|
|Other income||10,514|7,542|
|||72,554|77,961|
|4.Investment
income||||
|||2020|2019|
|Gross income bas been generated as foIlows|&om|||
|Investments
listed on arecognised stock exchange||28,013|31,786|
|Property rental||11,617|10,265|
|Bank account and short term deposit interest|received|496|1,823|
|Interest income &omNotice accounts &3 months||7,412|9,237|
|Loan interest receivable (Visa deposit loan)||449|1,254|
|||47,987|54,365|
|5.Anal
sis ofex enditure
on raisin|funds|||
|||2020|2019|
|Direct cost ofraising funds||24,877|29,979|
|Direct cost ofmanaging &maintaining
investments||1,905|10,226|
|Governance
cost afiocation (see note 8)||2,453|1,156|
|Support cost allocation (see note 8)||47,438|23,270|
|||76,673|64,631|
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|||Overseas|UK based|National|Resources &|||
|---|---|---|---|---|---|---|---|
|||acdvities|activities|Outreach|Conferences|Total 2020|Total 2019|
||||g||||f.|
|Total activity costs (per note 6)||1,325,281|843,721|420,812|38,039|2,627,853|3,576,740|
|Resources &conference income|||||(28,740)|(28,740)|(39,854|
|Ministry fees &|charges income|(13,767)|(1,545)|||(15,312)|(12,383|
|Other income|||(28,502)|||(28,502)|(25,429|
|Net cost funded|from other income|1,311,514|813,674|420,812|9,299|2,555,299|3,499,074|
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|||||Support|Governance|Total 2020|2019|
|---|---|---|---|---|---|---|---|
||||||||f.|
|Salaries and related|costs|||437,439||437,439|399,655|
|Other Staffcosts||||48,775||48,775|90,753|
|Premises Costs||||15,970||15„970|53,684|
|Office administration|costs|||15,763||15,763|14,858|
|ITcosts||||34,960||34,960|37,161|
|Audit &related fees|||||13,414|13,414|13,043|
|Board and sub committee||expenses|||1,402|1,402|9,551|
|Costs related to amalgamation|||with ISSIand ISI|||||
|Depreciation &equipment||costs||62,986||62,986|22,212|
|Impairment
costs /Loss on||sale ofWalker Ave||||||
|Other organisational|costs|||29,052|6,493|35,545|66,436|
|Aiiocatfon ofsupport|costs to||governance|(11,455)|11,455|||
|Total 2020 costs||||633,490|32,764|666,234||
|Total 2019costs||||673,877|33,476||707,353|
##
|Details oforganisatio|ns|to wh|ich grants paid are detailed belo|w:||
|---|---|---|---|---|---|
|||||2020|2019|
||||||r.|
|Funded aom designated||Legacy tithe fiatd:||||
|Interserve|India|||20,000|10,000|
|G2K||||10,000|5,000|
|||||30,000|15,000|
|10.Net income for|the|ear||||
|||||2020|2019|
|This is stated after|charging||the following:|||
|Depreciation||||62,987|22,212|
|Impairment|charge on St Johns House||||443,486|
|Audit fee||||12,760|12,408|
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|Income and endowments fro:|||||
|---|---|---|---|---|
|Donations
and legacies|2,436,605|206,836||2,643,441|
|Grants firom ISSIand ISI|||||
|Charitable
activities|77,961|||77,961|
|Investments|54,365|||54,365|
|Total|2,568,931|206,836||2,775,767|
|Expenditure
on:|||||
|Raising funds|64,631|||64,631|
|Charitable
activities|2,964,080|169,177|-|3,133,257|
|Charitable
activities - irnpainxent|443,486|||443,486|
|Total|3,472,197|169,177|-|3,641,374|
|Net income before gains / (losses) on
investments|(903,266)|37,659|-|(865,607)|
|Net(losses)/
gains on investments|33,521|(799)|30,014|62,736|
|Net income|(869,745)|36,860|30,014|(802,871)|
|Transfers
between funds|(2,000)|2,000|||
|Other recognised
gains/(losses):|||||
|Actuarial
gains on defined benefit pension scheme|(16,000)|||(16,000)|
|Net movement
in funds|(887,745)|38,860|30,014|(818,871)|
|Reconciliation offunds:|||||
|Total Rnds brought
forward|4,850,198|39,268|393,553|5,283,019|
|Total funds carried forward|3,962,453|78,128|423,567|4,464,148|
|12.Anal
sis ofStaff costs and remuneration|12.Anal
sis ofStaff costs and remuneration|ofke|mana|ement|ersonnel||
|---|---|---|---|---|---|---|
||||||2(1221|~219|
||||||f-||
|Wages and salaries|||||1,461,025|1,501,956|
|Social security costs|||||94,799|96,852|
|StaffDefined Contribution|Pension Scheme costs||||172,880|180,591|
|Former StaffDefined Benefit Pension Scheme Costs|||||5,327|6,610|
||||||1,734,031|1,786,009|
##
##
|charitable
activities, are as shown in the following t|able:-||
|---|---|---|
||2020|2019|
|Raising funds|1|1|
|Overseas activities|47|51|
|UK based activities|22|23|
|National
outreach|5|7|
|Resources &conferences|1|1|
||76|83|
##
|||202Q|2QIQ|
|---|---|---|---|
|Trustees and close relatives||10,520|7,740|
|Key management|personnel|1,173|849|
|||~11693|8,589|
##
|16.Tan|'ble fixed assets|||||
|---|---|---|---|---|---|
||||Fixtures|||
|||F/Hold|sttings and|||
|||W|eOIRRment|ComOuters|Total|
|Cost||||||
|Cost as|at 1st January 2020|1,240,554|429,390|120,763|1,790,707|
|Additions
in tbe year at cost||||4.437|4,437|
|Disposals
in the year||||||
|A.t 31st|December 2020|1,240,554|429,390|125,200|1,795,144|
|Depreciation
snd impairments||||||
|Accum.|dep. at 1stJanuary 2020|470,554|108,137|42,518|621,209|
|Charge|in the year|7,700|37,482|17,805|62,987|
|Impairment
loss||||||
|At 31st|December 2020|478,254|145,619|60,323|684,196|
|Net book|value|||||
|At 31st|December 2020|762,300|283,771|64,877|1,110,948|
|Net book|value|||||
|At 31st|December 2019|770,000|321,253|78,245|1,169,499|
|17.Fixed asset investments||~rt||Listed||
|---|---|---|---|---|---|
|||pzoOer
i|~in|sjrnents||
|Market value at 1stJanuary 2020||764,500||769,229|1,533,729|
|Net movement
on revaluation
at31stDecember 2020||10,944||(28,647)|(17,703)|
|Transfer to Current Investment||(300,000)|||(300,000)|
|Market value at 31stDecember 2020||475,444||740,582|1,216,026|
|Historical cost at 31stDecember 2020||350,000||361,530|711,530|
|All invesunents
are held for an investment|return and|are carried at market value as described below.||||
|||2020|2019|
|---|---|---|---|
|Properly - 47Arlington Road, Ealing,||475,444|445,000|
|Property - 20Ridgegeld
Gardens,
Christchurch|||319,500|
|M ds G Securities Ltd - The Equities Investment|Fund|||
|for Charities - "Charifund" 13,398units||183,897|222,499|
|M4G Securities Ltd - Charibond
Charities Fixed||||
|Interest, Common Investment
Fund 77,133income shares||96,786|95,468|
|COIF Charity Funds - Property Fund||||
|117,071.22 income units||127,526|134,292|
|Sarasin Alp CIF Income Fund 148,086.07 units||174,297|167,337|
|Sazasin Alp CIF Endowment
Fund 131,984.23 units||157,589|149,142|
|||~22|~1|
|The investments
are held for the following
funds:||||
|Endowment
fund||381,087|423,698|
|Restricted Funds||27,122|28,561|
|Unrestricted
-Designated
funds||475,444|764,500|
|- General
fund||332,373|316,970|
|||1,216,026|1,533,730|
##
##
||||2020|2019|
|---|---|---|---|---|
|Amounts|owed by overseas Interserve|councils|34,082|65,760|
|Income|tax recoverable||7,556|9,104|
|Accrued|income||551,462|311,819|
|Prepayments|||51,278|38,607|
|VAT recoverable|||185|1,111|
|Amounts|due &am ISSIand ISI||323,481|309,124|
|Other debtors|||76,839|4,081|
||||1,044,883|739,606|
##
|20.Cred|itors: amounts
fall|in
due within
one
ear|||
|---|---|---|---|---|
||||2020|2019|
|Amounts|owed to Interserve|International|22,584|45,047|
|Expense|creditors||7,038|17,594|
|Taxation|and social security|costs|54,597|41,838|
|Expense|Accruals||32,288|26,493|
|Other creditors|||1,234|28,193|
||||117,741|159,165|
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|||O7Bat|Gain/ (losses)|C7Bai|
|---|---|---|---|---|
|||01.01.20||31.12.20|
|2020|movement|423,567|~142,611|380,956|
|2019|movement|393,553|30,014|423,567|
##
||Balance|||||||Balance|
|---|---|---|---|---|---|---|---|---|
||01.01.20|Income|~E|~o/6|T|1||31.12.20|
|Country Team|23,160|||(1,167)||||21,993|
|Paitners Respite|5,952|(76)||(272)||||5,604|
|Tralismlsslons|49,016|133,758|(168,497)|||||14,277|
|Other Councils||100,949|(100,949)||||||
|2020 Total|78,128|234,631|(269,446)|(1,439)|||-|41,874|
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|The income funds
unrestricted
funds:|ofthe c|ompany
includ|e the follow|ing
designated|funds which|have|been set|aside out of|
|---|---|---|---|---|---|---|---|---|
|||Balance||||||Balance|
|||01.01.20|Income|~E|~G' I1|T|f|31.12.20|
|Insurance||16,403||||||16,403|
|Legacy &exceptional|gift|614,753||(13,686)|(19,500)|346,578||928,145|
|Legacy tithe||114,651||(30,000)|||69,069|153,720|
|Strategic Development||232,867||||||232,867|
|Fellowship
Partner||113,440|4,883|(1,619)|||8,265|124,969|
|Property
with life tenant||445,000|||30,444|||475,444|
|Capital reserve||1,169,499||(62,986)|||4,437|1,110,950|
|St Johns House||12,195|33,923|(140,119)|||95,000|999|
|Kitab new publication|fund|28,219||||||28,219|
|Partner
resettlement|fund|74,464||(5,763)|||6,971|75,672|
|Partner support
funds||594,338|1,586,321|(1,315,025)||(207,591)||658,043|
|IFP 86OT Plus||(3,150)|19,456|(4,828)|||(6,552)|4,926|
|2020 Total||3,412,679|1,644,583|(1,574,026)|10,944|316,177||3,810,357|
|2019Total
FFd F||4 305 946|I 716861|~2476 119|4231|~138240||3412679|
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|25.U|nrestric|ted-
General|fund||||||
|---|---|---|---|---|---|---|---|---|
||||0/Bal|||||C/Bal|
||||01.01.20|Income|Expenses|Gains|Transfers|31.12,20|
|2020|General|fund|549,774|1,201,596|(861,055)|(16,597)|(316,177|557,541|
##
|||||||Unrestricted
funds|Unrestricted
funds|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|---|---|---|---|
||||||General|~Desi
ted|Total|funds||funds|
||||||6||||||
|Tangible fixed assets||||||1,110,948|1,110,948|||1,110,948|
|Investments|||||332,373|475,444|807,817|27,122|381,087|1,216,026|
|Current assets|||||623,258|2,252,616|2,875,874|14,752|(131)|2,890,495|
|Current
liabiTities|||||(89,090)|(28,651)|(117,741)|||(117,741)|
|Defined benefit scheme pmvision||||(309,000)|||(309,000)|||(309,000)|
||||||557,541|3,810,357|4,367,898|41,874|380,956|4,790,728|
|Unrealised|gains on above||||||||||
|investments|||||30,970|185,441|216,411|2,457|47,238|266,106|
|Reconciliation ofunrealised|||gains/(losses)||on investments||||||
|Unrealised|gains/(bases)|at|1st||||||||
|January 2020|||||15,567|174,497|190,064|3,896|89,849|283,809|
|Gain/(loss)|on revaluation/|disposal|||||||||
|ln year|||||15,403|10,944|26,347|(1,439)|(42,611)|(17,703)|
|Unrealised|gains at31stDecember||||||||||
|2020|||||30,970|185,441|216,411|2,457|47,238|266,106|
##
||||||2002|2019|
|---|---|---|---|---|---|---|
|Net Income /(Expenditure)
for||the reporting||period (as per the|358,580|(802,871)|
|statement
offinancial activities)|||||||
|Adjustments
for:|||||||
|Depreciation
charges|||||62,986|22,112|
|Impairment
charge||||||443,486|
|Loss/(Gains)
on investments|||||17,703|(62,736)|
|Dividends,
interest|and rents from||investments||(47,987)|(54,365)|
|(Increase)/Decrease|in stocks||||(127)|4,781|
|Decrease(Increase)|in debtors||||(305,277)|139,043|
|(Decrease) Increase|increditors||||(41,423)|(40,746)|
|Defined benefit pension scheme||interest adjustment|||(22,000)|(12,000)|
|Net cash provided|by operating||activities||22,455|(363,296)|
|28.Anal
sis ofcash|and cash|uivalents|||||
||||||2020|2019|
|Cash in hand|||||768,850|511,161|
|Total cash and cash equivalents|||||768,850|511,161|
##