C+ RE MINISTRIES TRUSTEES: REPORT AND FINANCIAL STATEMENTS FOR: THE YEAR ENDED 32 DECEMBER 2020
Chasity No : 1028797"
C+ MI MINISTRIES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER.2020)
L
TRUSTEES’ €+M MINISTRIES. REPORT AND PINGNICIAL STATEMENTS ROR THEYVEAR: ENDED31 DECEMBER. 2020:
Charity Ne 1029797,
INDEX:
==> picture [312 x 133] intentionally omitted <==
----- Start of picture text -----
||||
|---|---|---|
|Pages|
|Charity, Information|3|
|Trustees’|Regorti|4-8:|
|indepeadent. Examiner's Report:|7|
|Statementof|financiatiActivities:|ti|
|Galance: Steet|i)|
|Notes.tu the-Financial Statements:|10-15.|
----- End of picture text -----
2
TRUSTEES” REPORT AND-HINANEIAL STATERRENTS-FORC+ WEMINISTRIES:THE YERICENDED 31 DECEMBER:2028.
Charity ts:; 1029797"
CHARA INFORMATION
Trustees:
The:Trustees during the:yearendedi3t"* December 2020;.and.the-period in 2024 prior to signing the 202G Accounts, were as. follbwes:
MraMir DavidiCaombas Ingrid Chambes resigned:resigned 2431 JulyDecember 2020) 2020: MsMr Vanessa Edmonds: appainted24. july,2020 Sppsakic fithimian appointed:24-tily 2620 Mr Charles Galigzewskin resignedi24uly 2020 Mrs.LynetteMrs Gattezevski resignedi2@july,2020 h4r Karen Goodmag appolhted 24 july: 202 resigned 30Uune 2021. Mg VirginiasSymands-David StricklandiEales: resigned’ 24-Juty2@20
Heritage Directors DeCiifford Hilt Mrs Monica-Hil
redesignated December 2020.
Ministry Coordinator Nii ChrissCobbaldi
appointed: September 2020:
Principat Cffive-Address Bedfardiiteights Brickhill Drive Bedfoacti MKal.7PHH
Independent Examines Mr Paul Clark ACA 7# Patatine Avenue Stotforth Lancaster UAL 4HF Bankers CAF Bark Ltd 25.Kings-Hili Avenue: Vest Making: Keat MELT AR Lloyds TSB Pic High Street Ashford: Kent TNQa Ss: Advisors: Michael Fenton Jones FRICS NirssSue Gibbs resigned December 2020: David:Lindsay, Johre Matthews. David Noakes: MA. Nick Szkiter . Dr Feter Carruthers resignediSeptember 2020:
3
TRUSTEES: "REPORT AND: FINANCIA STATEMENTSC+4 NERISTFORTHERIES YEAR ENDED 38 DECEMBER 2020
CharipeNe : Iozg7sy:
TRUSTEES’ REPORT
CHARIFTINRORMATION:
Structure; Governance andiManagement
CBaritable Status
Registered Charity 1029797 — registered on 7'" December 1993: The Charity's governing:documents a Declaration of Trust dated 26™ Trustees;Novels 1895, Cis 25°" Geiober 20[Zasupplevenialagreement][waxsignediby] iheThudecsrege ding ne-number and appuinimeniiof and submitted tothe Charéy Commission. The Charity, israwe Know mone widely as:lssachar Ministries, During:the year a new ClO named: Issachar Ministries.U was createdite developthe ongning:wark of the ministry and:issexpected:to: develop:become:operative:itr2021 as:partof a structural rearganisationof theoveral ministry:.C&M htihistries willicontinueta supportiand the heritage work-:of Clifford andiMonica HIN with:appropriate: variations to:its: Trust-Deed in due:course, Organisation Theabout Trustesssknewthat 2020 wauld be-a yearof cHange and‘had:made appropriate plans. In the event tite unexpectedichanges brought The by the Covid 1% pandemic were alsorbed/ mare: easily, withTrust retained its leasedioffice space:imSamdy thraughouti theyear inspite of the enfonced offfce-closure:due tutte Covid pandemic the:need for steffta wark fromihame. itcontinuedite focus on national issues, netyerking-witt alurches and Christian groups: throughoutwere the year and supported’a sub officein Hail Weston where archival matetialsplus reserve books andithose being given away. aS also: stared. During the:year,it was recognised that Prophecy. Taday Limitediwauld needita retain: its independent. Company status. part of tie: ministrprestracturing: officesTheyear commenced with the January Trustees meeting followed bya jaint!ssaches Ministries:aad Propheey Taday, Vision Day-at aur resignatithe in Sandy:. Six potential trustees were-intraduced, and fon sicnvanths they shadtwwed theexisting:trustees whousignifiedithey,would! by July Trustees meeting and AGNM Numeraus:smaller meetings.ofiTrustees were held fitstasface tu face meetings andithen and:he;, Zoorn until the change over of Trusteestauk place in July 20B0:. David Strickland Eales handaxt the-Chainmanshipta Virginiasymands Spirakis Charlie-andilynette Galiszewskiand: IngridiCaombes resigned NewoTrustees were appointed; Vanessa Edmondsae Treasucer,. (Aggy jEfehimiou and karen Gosdmarm.. David Coombes remained in postunul the: Decemben meeting to-aid the handover. The Trustees.continuedite communicate regulasy by, Zoonn. Jacqueline:Barbes cantinued a four-day week.as Office Manager, with a change ofiname tu: Virtuzt Office: Manager when tha:main office: alsoservedactivities:Rabbitts, needediteresigned hes operate fromvhen post.as Managing: home, EditorTony, of Prophecy, Whelan wasToday takenUK onteand was the-pant-time-staffias replacedibyMrs KathrynPublications Prioeaad Mr Coordinator, Tom DrLennia: Frances: whe the-ministry in otter ways as.they repiacedifien Robinsomand other contracted staff who did-not continue. The new Trustees played a supportive rote:for new: staff during this period, and Chris: Cabbothjoinedthe ministry as Ministry Coordinator on a vatuntary during:thebasis in theautumm. A numberof valunteess: including Mary. Millar and Mike Baker continued:ta support the Ministre fron home: forward. year,. Richard Halland beganihending over his role as:Financial Administrator-to Nadine CrawfordiPipertecarry the new.CIO objects.The Trustees.andiPrincipal Officers convened regularlyomline to -determine overall poliay andioverview. the-furtterance-ofithe Charity’s The Advisors.ta the Ministry covering spasialist areas.of the work.continuedite actas consattiants to:the Directors atintervalz during.the year although Oc Peter Carruthers resigned durinpthe year and: Mrs Sue-Gibbs movedioverseas, listingsChasgesimGDAPR regulations were carriediout effectivelyonbott aur prayer pasinen datatase-and-ourProphesy Today-readers’ e-mail during the-year ard will continueto be monitored to:make impromements as the:bands being bullt up were legally separated. Risk Management:Stetemrent Themitigate Trustees review regutarly the major risks to-wHicththe-chartyis-exposed and), whereappropriate, put in place systensand:autivitypto in operationasthose-risks.weil Trustuzsare cammitted:taas other relevant insurance ongoing:riskpolicies. assesementiand quality monitoring processes. A Trustee Inderinity Policy, is Objectives andiActivities: The Chanity’s objects continue tobathe promotion of the Christian faith;.as set out in the-governing document, and:supporting the: ministry initiatediby Dr Clifford and Nes Monica Hill. Frogress.was made-tuwards establishing a new CiG-to-embrace-the ongoing: wark of the-ministry,ongoing-Heritage and-ta: propesti. ensurethe futureot Prophecy Today, UK. The CEM Ministries:Trust Deed will be variediduring2021 te support thes
Achievements andiPerfarmance
TheMailChimpOutside In Tearmbad started torun Open Days.aroundithe country. sattingup supporti groupswhich dewetiped inte awerkly: wien Covidi1% prevented actual meetings. This suppert continued, litking more withthe expanding work:of the:Praver team ae the yeaa wentan. During the first-lockdowmairegular Wedtesday VWward wentouteach week to-evesyone-omaure-mail list eachiweek:.
4:
TRUSTEES C+ MEMANISTRIES REPORT AND FINANCIAL STATEMENTS: FOR-THE YEAR ENDED 32. DECEMBER 2020.
Charityta : 1azo737"
Thresupport Outside In team: with tHe Prayer teannworked closelytogetterin sendingup personatietters andiarrangingfor groups tocontinue-ta: Theteachingwouldheld asuccessfalcommencermentofia be east difficultwebinars.orclineothepilatandiwaa tomaintain, duringSunday, lackdawn,an various.subjects continuedanditheGattrering:- The.ministry pravisior inte: FeHowship;, which the-newforbought the woulliequip year.teachingandmeeting:oreinta ProtheZbarsa community.BodySunday early of afternoonCHrist inthe aspectinyearreleventso-thatit. ofthe anticipatingministrywaysdid for notconflist that today,moved.conferences.tohaldingwith churemservices,are midweek:meetings. The:incorporatiomaf Prophecy. Today mate filly inte Issachar Ministries was prognessing:stowly but bythe endiof theyear it was agneedthat reteining independence in a separate campany would-be then bestiwayforward. Steps woulditie taken in 2021 wheniit was Hopedi that itwouldite placed upom sound legallybased faating, ArrinitialDuring:thebook:'Beyandplan foryear a number a full website-reviewsof the:tamd! copywas resources:afstarted withaearlierlandingemphases page being:createdwere: digitatised,taJink-allithe republished ministries. and. broughtinto use and a new publi¢ and ousthepr a Pandemic’,yer partners.writtemby Clifford Hill, one of the faunder-afthe ministry; was publishediandimade available tothe generat: A Heritage: Department was set up to:preserve-the longheritage of and Ntministries which itwes anticipated: weuld become:more: aative i 2020. Public Benefit. The Trustees:have:had due regard te the- guidance published bythe: Charity Cammissian on Public Benefit arr.they see a fulfilmentofi their responsibilities in the:following ways: asc« understanding of= Advancing:the Chris aur Chriatianfai t h historyianthrough ancwaiting,legacy:and. espacially teaching.andiremindingwhat thatpeoplemeans ofithistoday, nations Christian heritage and culture including: + «Providing networking opportunities including news of Parlizmentanry, activities, using aur groups and:oun intemet links. * Encouragingand teaching:through books and newsletters. interpretingcument events in-the lightof Cristian values withimanthtpupdates and bimontitty recorded messages. FinarialiReview changing:Donationste punpose theministryandipossible-separation fram supporters ofduringthe theongoingyearwerkenattedfromthetheministryhistoricarctives..te continue:oma stable footing sothatit could: fulfft its The:ministry rewelvedilegacies during, the-year whfclt it wasablicte addite the-reserves, knowing that these wauldibe:needed'for plans[in][2021.] new: The-Trustees are omaonstuntwatumte be goodistemards of the resourcessreceived and using, then in accordance wittithe donors‘ Thespreadsheetisystenr:transferof theaccountsto QuickBooks ascountingsoftware fon ease-af’recording-andiaccurasy continued alongside the existing: ormorefrequentincame:and: Expenditure[basis.] are:reporredianck reviewedibythe Cifficers ona quarteriy basis, while bank:-baliinees aremonitored omaimonthly:
Reserves Polixy
| Reserves PolixyPolixy | Reserves PolixyPolixy | |
|---|---|---|
| Reservesareheldiby the Charitytmensure: | ||
| © | Coreactivity,car:cantinuecififundingiglost | |
| © The-shortterm continuation afprojectshe organisation believesarevaluable:ifi funding:ceases asd toallow timeforotherfunding options taheexplored |
||
| * | The-organisationhassufficient fundstomeetall Itsstatutoryobligations in the-event ofclasure- |
|
| At31December2020,tte leveliofreservesaftermakingallowancefar restrictedifunds is:asfollows: | ||
| LegauyFund: Prophecy Taday. |
FE,378 9,766 |
|
| Ministrycarreplacement | 364 | |
| Moversent.for Justica:and.Reconciliation: | 266 | |
| Otherrestrictedfunds | amG | |
| RestrictedFunds | £54,795 | |
| UnrestrictedFunds - GeneraiiFund. TotalReserves |
£7 FANE F134280: |
This level ofreserves.inthe Gereral Fund:ts available toxcover nine months* offfce-sataries and core expenditune as at 31 December 2020:
&
Charity No: 1029757"
:
Ce VRNISTHIGS. : TRUSTEES’ REPORT AND HINANCIAL STATEMENTS POR THE YEAR ENDED 31 DECEMBER 2020:
Tiusizey Sishercent
As reportedielsewhere:a mew Shard offTrustees iy inplace fallawing the July 2020 AGM with Virginia Symondsas: the:new. chairman, The new Trustees:at ovisforward witheonfidence-to2 creativeyses ot serviceand the expansion ofivarious- activities irr different areas.of thispersonalcounty, with thanksgiving:to:Gou-and:to-ail the supporters:ofttieTrust. All the Trustees are committadttoctheeuisior: and they. take a satisfed thatinterestinit is-operating the activities in the bastway ofthe Trast:toofulfil They the areccontinually purnosefor which examiningit was the established.stractures-and managementolthe Trust ancare: in 2019 theoperations of Prophecy foday- Uxkihedibeen retamedto the: aegisofC&M Ministriesaraithe-company frophacy Today: Limiterh(PT.)guarantes,.willwas.due to beweund-up. in 202% iLisanticipatedthat Prophecy Taday Limited. (Rep: No. GOaBS1d4}, @company-timited by take-backthe owmesstitinand operational responsitility forproctucing the or tirmnmagazine “Prophecy Today”. The: Companyremains connected to the Charity through retated. parties: During:2020,Virginia.Symsunds remained: aTrustee: ofthe Charity and: wasClifforda memberof the RT Editorial Board, MoniceHill (ca Directorofthe Charity and was a member afthe-PT Editorial Boardand: Dr. Hit ls a Director ofthe-Chartty anc was Bditorin-chief of PT. Thecfinancialistatements:Reparting fave beaspreparedihaccordance with the Statementof Racammendad Fractice: Accounting anmk by Charities, preparing thein accountsih accordance withithe-FinansiatReporting Standardappiioable initheUK. arch Repoblicofirelancd (FR3.102} aned:theeCharitiesAct 2011 and UX Generally, Aucepted Practice asitapplies from T January, The Teper are resnonsite for keeninm scoutingrecerdé whith Hlertres with reapersiter accuracy atany tine the financiat position of the Charty, and which enable thennta ensure thatthe financial statements camply with: applicaiiie-taw andregulations:. The Trustees are alee responsible far safeguarding the asceats ofthe Charity, aecthence fox taking reasonable steps far the prevention andidetection offraud amb other irregularities:, Theand Trustees.confirm thatthey are imagreementwith theserespansitilities:and thatthey keep-up to date withnCharityLaw: are continuingto take the menessary action to-ensure: that their responsibilities are discharged. withndue diligence. The report hes beer prepared faving takenadvantage of the small companiesexemption inthe CumpaniesAct-2006.
==> picture [361 x 29] intentionally omitted <==
----- Start of picture text -----
| EY
chairofVirginia Symonds:Trustees Trusteemeged andiTreasurer-Lorracids: .
----- End of picture text -----
Appromed on: 6th Sapteniber 2027
& -
TRUSTEES: REPORT AND FINANCDALSTATEMENTSC+ MINISTRIES.FORTHE YEAR ENBED-30 DECENTBER 2020
Chasity Ne: 1a27a797:
INDEPEN BEAU EXAMINER’S: REPORT Tt0-THE ERUSTEES OF Coe ia MINISTRIES
i report on the Financial Statements of the Trust forthe:year endkd: 311 Dewember2026, which are-setout on pages 8 toi
==> picture [406 x 207] intentionally omitted <==
----- Start of picture text -----
|||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Respautive responsivlities ofitrustessand|examiner|
|The-charity's:requirediforthis:yearneeded.|trustees:are under responsible:for saction 144(2)theof presanatiorthe:|CharitiesafActithe200ascounts: (the 201% THe Act} charity'sand that trustees consider an|independent that examinations an auditiis.not|
|itis my responsibility:|
|1. te-exeminatie|accounts|under|section. 146.af|the|2011 Act|
|2. to follow-the|procedures.laididiwwi|in theGenerat Directions|given by, the-CHtarity|Commission under S.145{5}(b) ofthe|
|2@L1 Actrand|
|3.|to statewhether|partioutzs matters have come:to my attention.|
|Basis ofiindependent|examiner's:statement|
|eeBike as|SAGpen eee AURITINE|URSee|ESICae etd eenee|UETan em LOS|TSSad a|ee|CRsthe|eRReSEee TEPOSwtSRSee oleBivaas:|MeLe|eh|Ge Santoe|htheeeeered|TDBron|DEeee|ay|Sie|ae|
|includis a|review-of the-accaunting|records:|kept by the:chanity anda camparisen|of|the accounts presented wittrthose|
|records.|(talse Includes consideration ofany|unusuallitems|or disclosures|in threcancounts, and seeking. explanations from|
|you-as trostees concerning:any‘such|matters.|The:procediies undertaken do:|ratprovide|all the-evidencethatwoull|be|
|repartisrequired mitedita|audit,.and tothose mattersconseguently:ne set|outiin|apinioniléthe statement given letow, asto whettertite accounts presenta “trueand|fairview” and tte:|
----- End of picture text -----
indipancent exeminer'sstatement
in the:course of oun examination, no matter Has-cometo Moyattentivn:
- whichigives nmereasonable-cause tobetieve:that,inany materialirespect, the requirements:
: to keep-accounting records inaccordance withsectiom13% of thre: 20LI Acty and ” ta prepare:accounts witch ascord withthe accountingerecordy and:comply with the-accounting requirements of the: 2011 Act
have:nat beemmetcon
2..ta which, in our apinion; attention shouldibe:drawn inorder to enable:apropes undérstanding:of theaccounts:te be reacted:
J . SRST ome, ClaricACA. 74 Palatine Avenue Seotforth Lancaster UAL 4H
7
TRUSTEES’ C +MEBYNISTRIES: REPORT AND FINANGIAL STATERRENTS-ROR THE YEAR ENDED31 DECEMBER: 2028
CharityeNe: 1028797"
STATEMENT OF FINANCIAL ACTIVITIES
==> picture [412 x 345] intentionally omitted <==
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Note|Funds|Funds|2020|2019|
|Vaiuntary|[Income]|£|£|£|£|
|Donations,|legactes:apnt similar. resources:|2|81,021|22,882|103.983|96,245:|
|incoming Resources:from Charitaliiz|Activities|
|Satis andiCanference income:|3|235506|4,712|28:60|64,2081|
|investment|Income|
|Sank deposit interest|36|-|3|64.|
|loaminterest:|ce|~|-|-|268|
|Tatalineoming-resources|104,953|27,505|£32,542:|160,77|
|———————————|on|
|Resources Expendéed|
|Charitable expenditure|4|100,505:|26,402.|126,907|195,737.|
|Fandtaising costs:|5|2007|~|2 O7-|2,538|
|Gasernance|costs.|6|A183)|-|4,18|4220|
|Total|sorterrteererrrrnteeeenreesrarer|tf|tierra:|
|Resources. Ekpesded|106,735|26402|135137.|200; 538|
|Nat incoming/(Outgping) Resources:|-|1,782|119%|-|58g:|-|39,814|
|Transfers:|between|furs:|32.|-|322.|-|-|
|Fund balances braught|fonward.|ee80/980|93,927|134,882|474,646;|
|fund|balances carried|forward|793449.|54,75H|134,248|134,832.|
----- End of picture text -----
Thare weremo recogpised:gains.or iasses for theabovertwa financial years, otherthan thase:showmirthe statententiofi fitrancial-activities.
Themates on pages 10 to 15 form partiofthese:Accounts.
a
.
ChartypNon: 10gg797°
.
==> picture [308 x 21] intentionally omitted <==
----- Start of picture text -----
TRUSTEES REPORTAND -PINANCIAL STATEMENTS FORC & NOMANISTRIES. THE YEAR ENUZIE31 OECERVEER 20201
----- End of picture text -----
==> picture [378 x 368] intentionally omitted <==
----- Start of picture text -----
Notes 2020: oune
FIXED: ASSETS: £ £ £. &
Tangible Fixed Assets: & 2,127. 4
CURRENT ASSETS
Stock: 9 21S 1,595,
Debtors: 16 43,96 BS Fee eg
CashratBardeandin hand 125,475 124,468-
CORRENT LLUABILITIES: 139, 197 136,082
Creditors
ArrountsMET falling dum within one year 12 7,075. 5321.
CURRENT ASSETS:
_ 176. oe130,747.
NETASSETS: 134,243 134,837
RESERVES [ete eo
Restricted furndsUnvestrietedfunde: ve 54,754 533922
Generar 1z 7A aap: Ray
Designated 12! - ~
134 24S: 134,832
7 oe cero
eapprave-these: FinancialStatermentsand confitm that we:have
made avaliable all relevantrecords and information for
Wirginis-Symmedts q ; -
Chain Vareeran Edmonds
of Trustees Trusteewand Treasurer:
Date:
----- End of picture text -----
The notes_on pages iets iS forrr part ofthese-sAccounts;
.
2
TRUSTEES REBORT AND: FINANCIAL STATEMENTS:C+ SEMINISTRIES:FORTHE YEAR ENDED 34. DECEMBER2020
Charty-Neo ; rovazoy
NOTES TO THE FINANCIAL. STATEMENTS
D Principal Accounting Policies LI Accounting: Comuention: complyThe-financial with the:charity’sstatements have gaverning:dacument;. been-preparedin accordancethe-CHarities with the Act 20LL accountingand Accountingpolicies.setout and Reportingin noteste by, Charities:theaccounts:and Statement ofRecommeseied Practice applicable tocharities preparing thein accounts in accordance:with the:Financial Reparting Standardiappticablmimthe UK and Republic oftretand publishediow 26suly 2014. The-charity. has taken advantage: ofthe: provisions in: the:SORPfor charitiesapplying FRELOZ Update Bulletin tinotito prepare: a Statement.of Cask Flaws: The-financiatistatementshave-ten preparediimaccordance with the StatementofiRecommended :Phactice: Accounting and RepublicRepontingby Charities.preparing their ascounts ir:aecordance withthe Financiat ReportingStaanardiappiivableimthe Uk: anc and ofilrefandi(FRS 102) issued an 1 Gully 2014 and the Financlalikeporting Standard applitable inthe United Kingery Republic ofretand IFAS 102V ard the-Charities Act JO11. and UK Generally Accepted: Practice as ft applies from Tlanuan, 2026. The-financiai'statements:have:been preparedito give a ‘true and fair’ viewand have departed fronmtie Charities: (Accountssand Reports) Regulations 2008 only te: the extent requiredite provide ‘true andfair views: This.departure has Standardinvalved following: Accounting.and: Reporting by Chanities pregaring:theiraccounts.in accordancewith the Financial Reporting: applicable in the WK and.Republit of Inetand:(ARS102) issuedson 16 July 2074 rathen thar the Agcounting and Reporting-by Chasities: Statementaf Recommended:Fractice effective:front 1. April 285 which has since-been vaithdrawn. The aonounts are- prepared in sterling: whichis thenfunctionatcurrency of the charity. Monetary anrounts ins these-finantiak statementsare rounded te the-neanest £. TheaccountsHave been prepared. under the-historical const convention, 12 Going concer At thertime ofapproving:the accourits, the:trustees:havera-reasonable expectation that the charity hasadaquate resources to cantimieaccountingin Im opesationsiiexistence-for prepaning the: ascounts,the foreseeatté: future. Thetrustess.contiue toadbpr the going concermbasis of 1.3: Charitable-furdsUnrestricted furds:ane available for usmat the-dikeretion ofthe trustees in furtherance afthain charitable objectives unless the:funds have beemdasignated for other purposes: Restricted. fundy are:subjactito- specific canditions-by-donars as-to how: they ‘maybeused,The purposes: and: uses:ofithe-restricted funds are:set aut in the notes.tathe- accounts. Endawmentifunds are subjectta specific conditions by donors that the capital mustibe mainteined by therotanity. 4 incaming: Resources: incameis:recognised whem the-charity is legally, entitled toit after any.perfarmanneconditions have been:-met tte amounts: cambe measured rellably and itis prebable that income-will be-received, Cast donations:are recognisedior: receipt..Otter donations:are recognisedionce:the charity has. been notified of the donation, unlessgerformence: conditions require-deferral, oftheamount. L5 Resportes Exgendedi Basic financial liabilities, inctuding.creditors andibank loans:ace initially recognisediat tramsaction price unless: thearrangemzent-constitutes a financing:transaction, where the debt instrument is: measurediat the-presentvalue ofthe future payments disesunted.at 3 market rate efinterest, Financial lahilties.classified ar peyalile within one year are-not amortised. Debt instruments are subsequently cammiediat amortised. costi, using the-effective interest rate: mettad. suppliers.Trade. creditarsAmounts are-cliligationspayable are-classifiedto:pay-for asgoods.or currentillahilities:ifi services:that have payment beenis duewithinaaquired:imthon e ordinayear o r less:.y course-ofop if not, th e* y,are-rations front presentedias nonreurrentiiabilities. Trade creditors are-recagnised initiallyat transastiom price-and:suksequently measured atarnortisedicost-using:the effective interest methau,
1
TRUSTEES:REPORT AAD FINANCIAL STATEMENTS:C+ WEREIVISTRIES FORTHE YEAR ENDED 32 DECEMBER 2020
ChartyNo : Tazeyo7"
LS Taagitie Fixed Assets, Tangitle fixed. assets.are initiaty. measured at costi and subsequently measurediat costior valuation, netof depreciation andi anyimpairment losses. Depreciation isrecognised so asto write aff the cast or valuation ofassets. less theit residuat-values over their useful lives on: the follawing:bases: Furniture:— 25% straightiling: Computer equipment— 25%i-straightline: Motor vehicles -- 25%. reducing balance The-gain-or loss.arising:om the-disposat of aniassetis- determinedias the:difference hetweer thesale proneedsand thecarrying valueaf theasset, andiig renognisediimmetincome/(expenditure) fon the year.
1.7 Stocks: Stocksof books, tapes arididibes: productionprovidinwoffor sateor inthe formane ofimateriais assetswhichiareor supplies. held farsate:in.tobe-consumed the ordinaryin: the: production counse of business, process or arin inthe tHerenderingor process of sexvices,. Thewase valued at the lawer ofcost and-netrealisable value, 1.8 Finescial instrumeats The charity has electedito apply the: provisions ofSectior:11. ‘Basie-Financiat Instraments’ ‘and Sention 12 ‘Other Financial instruments [ssues' of FRE 162 ta-all of Its. financiatinstraments. Financial instrumentsare recognibediimthe charity's balance sheet wherr the:charity, becomes party, tothe cantractual provisionsof the:instnunrant: Financial assets and:liahilities.are offset, with the: netamaunts presested in the financial staternants, whenithereis a legally. enforceable-rightctoandisettte set aff the neeognisediamaunts andithereis an intentiomto settizon a metbasisorte realise: the asset the:liability simultaneously.
1.8 Finescial instrumeats
Basictransaction financiatiassets, which inciude-detitors.and cash anditank-balances,.are initially, measuredat transaation price-including: constitutes: casts.and.are-subsequently, casiediati amortised cost using the effective interest method unless the-arrangpment. ata market afin r a ofncinginterest:tetransaction,Financialwhere:assets.classifiedthe transactionascreceivable:- is: measured:at within the:present-value-ofi one yeaa arenat.amontised,the future receipts discounted
Basic financiahbabilite
Basit finaseial liabilities, incuding:crediters:and bank loans are initially recognised at transaction prite-untess the: anangement constitutes.a fihamcing transaction where-the debt instrumentis measured at the present vatue-of the-future: payments discounted at a market rate ofinterest: Financial liabilities classified as: payable withinoneyear are roetamantised. Rebt instruments aresubsequantly carried. at amontised cost, using the:effective interestrate method. Trade creditors are obligations to payfor goodson services that have-been acquirediirthe ordinary-course ofoperations from suppliers. Amounts: payable are:classified. as:current liabilities ifipaymentiis due within one year or less: Ffnot, they are: presentedias nomcurrentiabilities. Trade creditors arerecagnised initially, at trarmsaction priawandsubsequently nreasured atamortised:cost using: the effentive interest: method.
Derecognitiomof financial liabilities
Financtat liabilities:ane derecagnised when ttre charity's contractual obligations expire or ane discttarged’or cannatiad,
1.9 Employes: benefits.
The-cost of any-unused holiday entitlement isrecognised in the periodiimwhicinthe employse's serviues arereceived: Termination benefits.are: recagnised immediately as an expense when the: charityis demonstrably committedite terminate: the-employment ofaniemployee or to.provide termination benefits:
LIQ: Retirement benefits:
Faynrents to:definedicontritutiomretirement benefit schemessare cHargedias an expense as they[fall] due.
an
€+4M MeGIS TRIES.
Charity Ne:::1023797.
TRUSTEES REPORT. AND FINANCIAL STATEMENTS FOR THE YEAR ENDED: 31 DECEMBER 20:20:
111 Leases:
Rentals payable under operating leases, lncluding any, leaseincentivesreceived, are-charged toihcome on a straight line basis. over Uhe-letmol Umeretevand lean,
| 1.12) Basis af allacation ofiresources expendedt |
1.12) Basis af allacation ofiresources expendedt |
||||
|---|---|---|---|---|---|
| Trustees: view the.charitableactivities as.a singleenterprise-attracting:avatheediand apportionments asfollows: |
avatheediand | support costs | wittytheexceptionof | ||
| Fundraising: | 5% | ||||
| Governance | SH | ||||
| 2. Volurtary Inconve | |||||
| Unrestricted: Funds |
Restricted, furs |
Stal2020: | Tatal2019: | ||
| £ | £ | £ | £ | ||
| Donations GiftAid refunds |
73,19L 7,830) |
22)8BE - |
96,073: 7,886: |
83477 6,765: |
|
| = IncomingResources. from Charitalle Activities |
|||||
| ovum | Fung | 12212020: | Totalza19 | ||
| €£ | £ | £ | £ | ||
| ‘State oftheNation Updatemessage’subscriptions: | 11,597 | ~ | YE611 | 412,442 | |
| _ | Saleofbagksiand tapes Pardes:events. |
9,364 - |
~ - |
9364 ~ |
FST - |
| PraphecyToday: Nearertient for JusticeandReconniliatiom |
- - |
4615 - |
4603 - |
2,685 - |
|
| Community ofPrayerand Study Webinars |
- 2,921 |
100: - |
100. QI |
- 41079 |
|
| Miscetianeous income: | - | - | |||
| 4 Charitable expenditure: | |||||
| vnresticted: Furrds. |
Restricts Funds |
otal200: Tatal2078: eee |
|||
| £ | £- | £ | £ | ||
| Salaries Fees ‘Stateofthe Nation: Updatemessage!‘costs Tour&Conferensmcosts |
35,174. 20,236 2,998. |
190277 | 54,251 20)258 2,998: - |
54,715 26,486: 4,597, 42,066. |
|
| Padesevents | - | - | |||
| Ministry expenses Prophesy Today-costs |
2,242 | 7,328 | 2,242 7,325 |
5642: F468 |
|
| CPS costs | - | ~ | |||
| Costiofbooks and-tapes Office costs |
4266 15,294. |
4,266. 18,294 |
6335 14,190 |
||
| Officeservicecharges | 47,846 | 17,840: | 16,635. | ||
| Maetorand travet | ~ | 1962: | |||
| Depreciation8 losson disposaloffixediassets- | LI | 1,705 | Zi | ||
| Dunations andisupporti | FE755. TSO: |
276,402 | 126,157 TSE |
175,274 19463 |
C4 MERUS TEES. ‘FRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR-ENDED:31 BETEMBER 2020:
Charity Nos: 1029797,
| S Fundraisingcasts | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted! | Total2020 | Total2019 | ||
| £ | £ | £ | £ | ||
| Salaries Fees |
arr ~ |
- . |
277 - |
479) 264. |
|
| Ministryexpenses: | _ | . | - | 108) | |
| Officeservicecharges | ay? | - | S17 | 762: | |
| Office casts: | 858 | - | She | 798 | |
| Depreciation&iass ondisposal | offikediassets. | 9S. | - | 98. | 22m |
| &Gowernance-costs | |||||
| eeda | a | Tota202% | Total209° | ||
| £ | £ | £ | £ | ||
| Salaries: Fees |
554. 7OYR. |
- - |
554. FOX: |
958 S528 |
|
| Ministryexpenses. | - | - | - | tag | |
| Office: senvica: charges: | 1,324- | . | 1,32 | 122: | |
| Office.costs | 1,008 | - | 1,008 | wo | |
| Trustess: Meetingsexpenses: | - | - | Ed | ||
| Depreciation & lossan disposal: af flediassets. |
35 | - | 98 | 120 | |
| Examiner’sfees | 500 | ~ | 500: | 580 | |
| 7Employeeinformation: Titeaveragenumberafpersons:employedduringthe:yeanissasfollows: |
2020: | 209. | |||
| Fulltime: | ~ | - | |||
| Fart-time: | 4 | 4 | |||
| Employmentcostofaltemployeesincludediabove: comprised: |
¢ | & | |||
| GrossSalaries &-wages | 53,656 | 51,559 | |||
| Employer'sNationaliinsurance | t29 | BAT. | |||
| Employer'sPensiomcontritutions | 1,298 | 726 | |||
| TotalSalintes & wagescosts |
535,083 | BEEZ | |||
| No emptiyerearnedemolumentsinexcess ofBB0,C8H. | |||||
| NoTrusteereceived.remumeration norreimbursedexpenses:during:theyear | year (2019 -Nil). | ||||
| is &Tangible:Fixed Assats |
Furniture:& “Chmniter- Computer Farilomerst |
-lotor Fixed Veliales Assete-Total eee |
|||
| & | £ | E | |||
| Cast: | |||||
| At 1January2020 | 12547 | 13,189 | 3237496 | ||
| Additions | ~ | - | |||
| Disposals | - | 140 | in | 140. | |
| Depreciation: | |||||
| At Lianuary 2026 | 16,740 | 11414 | 28,6544 | ||
| Charge:for theYear Disposals: |
- | 1,534 70: |
321 -- |
1,905 70: |
|
| AUS Mecemtrer 2020: |
|||||
| Niat Book:Vatue | |||||
| At3%Becember2020: | |||||
| At32December2019) |
15
Charity te::1029797.
C+ MINISTRIES. TRUSTEES’ REPORT AND PIMANCIAL STATEMENTS ROR THE YEAR: ENDED 31 DECEMBER 2020
==> picture [418 x 309] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|9|Sfack:|20201|209.|
|£|£|
|4|Debtors|2070|2019|
|£|é|
|Gift Aid|tax recoverable|7,830|6,842|
|Prepayments:|ET|
|11.|Current Liahilities|pate]|2019:|
|&|£|
|Trade cneditors:|3348|3086|
|Taxationiand|social|security:|622°|&85:|
|Accruals|RAGS.|400:|
|12: Funds|
|stricted:A|Satanceat|incaming,|Outaoing|Balance:at|
|Restricted|ae4.1120.|Resources|Resources|W228T|—“an19|20.|
|£|£|&|£|£|
|Ministry.|Carreplacement!|1,285:|-|--|321|564|
|Prophecy|Today|14,08.|22;167|~|26,402|9,766.|
|Legaay|Fund|38;0CHE|5,328|-|43,328:|
|Moveaventfor|justice: asd Reconcitiatiom|266|-|Pas|
|cPS|-|10O:|10a|
|Other RestrictediFunds|370|*|390.|
|53,922|27595|-|26,402|-|321|54,794|
----- End of picture text -----
Prophecy Today. Limited was connectedto the:Charitythraugh related partles- see: Note 16. The-Campany was-dormantat.3i December 2020:-and.its: operations were-conducted witiin: the-Ciianty througt:asingle-Restiicted'Fund..
==> picture [406 x 41] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|J|.|Balance at|incoming|Outgoing”|Balance-at.|
|Yorestricted::|aaa1.1.20|Resources|Ressurces|iranstersransferg|34.17,20|
|£|£|£|£|&|
|General Fund|80,920|104,933|-|106,735|321|79449|
----- End of picture text -----
————
14
€ +4 MBWATRIES. TRUSTEES’ REPORT AND FINANCIAL STATEIMENSS FOR THE YEAR ENDELS31 REXEMBER 270205
Charity Nox.1089797.
| Analysis ofFunds |
|||||
|---|---|---|---|---|---|
| Unrestricted Funds: |
Restricted! Fands |
; Tetat |
|||
| £ | £ | € | |||
| Tangiblefixedassets LognitoRelated Party, |
116 - |
964. - |
2,127" - |
||
| Current assets Current fiabilities. |
- | 85)381 77S. |
53}Se | - | 130;197 1,075) |
| 72449. | 54,794. | 134,243: |
1 Capital Commitments:
The: Charitywas not committed tranycapitat expenditure as at 31 December 2020 (204 —£N}:
14- New Cash Gifts: There were-nc non-cash gifts donated:tai the-Charity dining theyean
- Controtling:Party The Charity isumderthe contnat oftite Trustees. There is: averat! cantrolling party.
16 Retatediffarties Atlstlanuary 2019, Prophecy Taday, Limited (PTL) wassconnected tothe Charity thnouginrelatedipanties. PTL isaicompany. limited by guaranteeand it had'producedithe online: magazine: Prophecy Today. During 201%tHre aperations ofPTLwere retunneditois the: Charity and the-Companywas to bewound updiring:2020..This:deciston was reversed during:2020, and PTL to. Ue reactivated ie 2028 asa Independent company with its. oven Dditarialituard:, VirginiaDirectors Symondsis a Trustee: ofthe: Charitpand.chaire the-Editertal Board offRroptiecy Taday. Clifford Hivand Monica Hilliane of thre:Charityand members of the Editorial Board. During:the year, the Charity receivediincome totallitg-£22,167 (20L%£16,780)ifr the wark-ofiPT and its resources:The: Chasity incurred ‘expenses on-betiaif of PT tetalling £26:402- (2019+-£19,714). These funds are treatedias Restricted Funds by theits Mepounces. Charitpand.The willbalance be transferred in thig funxt back wasl,266to PPL during [2020°-- 2021, £2400}. te be used fon thewank and development of[the:] FT website and