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THE CHRISTIAN TRUST IA company limited by guarantee} Dlrectors. R•port {Includlng Stratgglc Report) for the purposos of section 417 of tho Companie5 Act 2006 and Trustee5' Annual Report for the purpos•s of Part 8 of th• Chariti•s Act 2011 for thg year •nd¢d 31 Do¢&mbor 2020. The trustees (WFK) are also dlrectors of the ¢harity for the wrposes ol the Companies Acl} prttsent their annual report Icqether with the audited financial Statements of The Christian Trust (the tharity) for 1 January 2020 10 31 December 2020. The trustees confirm that the annual r8port and financial stalernenls of the chailly and the group comply with tha current statutory requiiements, th8 r8quirem8nts of the charity and the gTOUP'S goveming document and the provisions of the Statement of Recomm8ndéd Practic8 ISORPI. Accounting ènd Rèporting by Chariti&s' affective 1 January 2015. The charlty also tradeg under th8 nam8 Ellel Mini81ri89. The charity and Ihe group operate out of the following UK centres.. Ellel Grange Bay Horse Telephone Fax Email 01524 751651 01524 751738 info@graroe.e1181.org Lantsastsr QHN Glyndley Manor Stone Cross Pevensoy Sussex BN24 5BS Telephone 01323 440440 01323 440877 inlo@glyndley.ellel.org E-mail Ellel Plerrepont Frensham Farnham Surrey GU10 3DL Td8phone Fax E-mail 01252 794060 01252 794039 info@pierponI.e1lel.Org BlaiTmore House Glass Hunlly Aberdeenshi AB54 4XH Telephone Fax E.mail 01466 799102 01466 700205 info scotland.ellel.org.uk Ellel Ireland Tonyt)ull Canningstown Coolehill County Cavan Republic of Ir•land Tèlephone F-mail + 353 0877 406 746 info.ir8land@ell81.org Information can also bg obtained from the charity's website www.ellel.org. Obl•ctlv•s and Actlvltlos Obloctlves of the charltabl• company The Christian Trust was established as a rggistered charity in 1977 and incorporated as a c¢ynpany in
THE CHRISTIAN TRUST IA company Ilmlted by guarantee) Dlrectors. Report {including Strategic R•portl for the purpo$95 Of section 417 of the Companies A¢t 2006 and Trust袥' Annual Roport for the purposes ol Part 8 of ¢he Charftlfrs Act 2011 for the ygar gnded 31 Docamb•r 2020. 1993. The Christian Twsl operates as Ellèl MinislrTes and L8 a nOrdenomInalK)naI Christi8n Mission oryanisalion with a vision to resource and equip the Church by providing training a1 personal minlsty in Christian healing and disCipShIp. Ml$sl¢n statement The mission of the trust is to fulfill this vision throughout the world, as God opens the doors, in accordance wrth the Great Commission of Jesus and the Calling of th8 Church to proclaim th8 Klngdom of God by preaching th• good news, healing the broken-hearted and setttng the capts'ves frea. The trust is therefore. commrtted lo evang8lism. healing, deliverance. disopleship, and training. The Board of The Christian Trust Is supported ty the Execulfve Leadership. Prin¢lpal actlvltlos and main objectO¥•$ The Christian Trust offars, wilhoutcharge, opportunlties for personal prayer by holdlng healing servi¢e5, running healing retroats and through personal appointm&nts. The help received enablgs individuals to overcome spiritual. emotional. and sometimès physical woblams and dlfficulligs in their IIv88 and enabS them to have more produ¢live and fuffilled lives. The trust equips others by offering training in Christian healing and discipleshSp through conferences. short courses, longer term programs and through the kyoduction and distribution of teachlng material {tapes. CD'S, DVD'S, and Books.> The trainlng offeied equips individuals and the Church in how to pray lor and help others. The main objective of the Trust is lo continue lo help peopk by offering prayer ministry and training i Its established UK and overseas Centres and lo d8v•lop the work $0 as lo offer simllar opportunitS for prayèr ministy and training in other Regions an(J Countries of the worfd. The trust has refarr$d lo the guidancg on public bgnefil provlded by the Charty Commission when reviewing ils obltIveS and planning future a¢ttviti&s. other than the prlmary objectives ol the Charity and the meang of fulftlling these objectives detailed in our Principal Activili&s, 2020 saw a svJnifKant impact on all of our physical contrg-based operations from midarCh onwards due to tha Covid-19 pand8mr which effectively forced a total shuidown until we w8r• slowty able to commence reopening from mi¢J-July in line govemment guidance. Further porio¢Js of reStrictn followed during tho Autumn, culminating in a second national lockd¢)wn as the year came to an end. As a result, wa sought to d8velop further opportunltles ICY teaching and ministry online lo reach those who have benefrted from the mlnislry or a5 a result of lockdown were desperate for any sort of spiritual input. We restsrted many of our physical residential events from m£d-May 2021 onwards Including Creativlty fo¢us$ed events, Flagship and Explor•. These hav9 provèd to bg successful. While this report Is corre¢dy focussed on the UK Registered Charity. it shoukl be nol8d that the number of ntO$ Ithich are now requesting help in establishing their own t8aching and ministry centre under the Ellel Ministries umbrelLI is increasing. A robust structurg of Regional Dlreclors has been established in c¢d8r to support and monitor these many financially independent operations. Additionalty. strenuous efforts continue lo be mad& ff) expanding the range ol trks published by Sovèreign World Ltd, whi¢h will help faolitale the wcyk of all the centres. maklng it èasier for Ihe
THE CHRISTIAN TRUST {A company Ilmltad by guarants81 Dlr9Gtors' Roport Iln¢luding Stratg9l¢ R•portl for tho purposes ol $•¢tion 417 of th• Compani•s Act 2006 and Trust••s' Annual R•port for th• purpos•s of Part 8 01 th• Charltl•s Act 2011 for the year ended 31 December 2020. overseas centres to develop their work with adequate training malerials. Four new books were succassfulty published in 2020 induding the fin81 two titles in the Joumey to Freedom serie5, God Plan for My Hoalin9 and 'My Life in God's Hands,. We were also very 9x¢lted to flnally bo able to publlsh Fiona Horrobin's excellènt and highly a¢ck8imed new b(x* 'Healin9 Through Creativity. in time lor Christmas. Normally, course programmes. attendance, adgquale and effeclwe 818ffing, and the finances of the mlnlsty are the most useful measures for determining the ongoing health of the Charity, work. wrth respect to ouroperational activities our primary aims, and objectivès ramain unchanggd. Howovgr, the Trustees are keen to flnd ways of redudng the existlng mortgage borrowlngs for our cenlres so that mor8 of our incomlng funds vlll be avaiL8ble for malnlenance of th& faciltties which ar8 SO vttal to th8 nning ol th8 work. The Chapel which stands in the grn9 of Ellel Grange has been defelict ever since the propety w8S acquired by the Charity in 1986. The Trustees have detemiined that strenuous efforts must now be made lo restore the building before further dereliction occurs. Accordiroly, new pnn1Th3 pemii5SlOll has be8n obtsin8d for the r8storatFon of th8 building as an additional meeting and worship venue and fvnd-r8lsing campaign for thls purpose wlll hopefvlty be Inhbaled In 2022. During th8 year th8 Trustees becam8 aware of a proposed development on land surrounding Ellel Grang8 of 8 major new vlllagè under the name Ellel Gard8ns {vMw.ellèl ardèn3.coml. The Inllial plans included development on land that according to the deeds of the Eljel Grange propety was view protected. Legal heW was required in order to confirm our rights in this respect and the appropriate Land Re9iStry records were updated lo ensure that Ellel Grange is permanently protected Bnd that no buildings Gan be constructed which would obstruct the views from Ellel Grange either lo the front or Ihe rear Df th8 propety. Whilst no planning application was put forward fr)r considèration by Lancast8r Cty Council during 2020, activity hag Subsequently restsrted and will be repted on in the 2021 report. Public benefit The trustees have had regard lo the Charity Commission s guidance on publ beneffit The events organis8d and the serV8S offered by charity are open to anyone upon the undèrstanding th31 the leaching and pray9r ministy offarad lo them will be Christian. The programme of events organised are advertised on the website www.ellel.org. Through the application of teaching and Christian prayèr ministry. individuals struggling with a variety of problgms arè hèlpbd to undèrstand trhe roots of th¢sg problems and deal effectively with them so as to bo ablg tg live a mry¢ illed lrfe. Equal access to the ministy is important to the trustees. The trust continues as far as possib to only ¢hargg for ta8ching Courses whilst Continuing to make personal rninisty available free lo the public regardless of rac8, gender, disability, LY sexual orientation, retying on donations to fund this aciwity. The trust relies ffi donations from partirypanls, supporters, and sponsors lo cover the costs of Healing Retreats for which no charge is made. Through significant donations reVed from supporters a fijlly functional Ilft is in place at the Glyndley Manor $it9 giving good quality disabled access. Through Irain#ig courses and longer-lem) programs attendees are taught how to minister and brin9 help aftd hoaling lo those struggling wth issues in their liv8s by the application of Biblie81 IrErth. Delegates al Ellel Minislrigs ¥vonts in¢ludg Pastors, missionarios, m&mbgrs of Church minislry tgams
THE CHRISTIAN TRUST (A company Ilmltad by guarantsél Dlrg¢tgr8' Report {includlng Strat•gl¢ R•ptsrtl for the PurpOS of section 417 of the Companl•s Act 2006 and Trustees. Annual Rèport for the purposes of Part 8 of the Chariti•8 Act 2011 for th• year ended 31 December 2020. and individuals seeking training in th8 Christian healing ministy. Thg Tru51 sponsors a numbor of delegates from d•voloping countrtes on longer programs. Feedback Iwdtten and vèrbal) from people who hav8 been helped by the Charity confirnis that tha work of the Charity is positivgly impacting individual's lives. The majority of those comlng for help do $0 8S direct result of personal reComMendaDn by someone previously helped by the work of the Ch8rity. Wisitors from overseas. including many third world nations, tell that what ihe Charity offers in tho UK is desparatety needed in their own Ctyjnty. The trust receives many invitstions lo brlng the work of the Charity to other ¢ountries. The Trustees of Thè Christian Trust believe that they have compliad the duty in secllon 17 of the Charili8s Act 2011 to have due regard to Ihg public benefit guidance publSshed by the Charity Ccrfnmisskjn. Our support•rs and volunt•ors ¢ontrfbu¢lon Th8 prayers and gifts of supporters, whlch frxm a significant part of th& Income of the ITUSI. aro grgally appreciated and are vitsl for conttnuiThJ the work. In accordance wilh the original vision, no charge is made for personal ministy as many who come would ba unable to pay for the personal attention they raceive. Th8 fees charged for training courses atyj longef programs ara also kept lo a minimum to ensure that they are accesslble lo as many people as possible- the fees bar8ly covgrthe real ¢ost, and the trust is therefor8 d8p8nd•nt on donation incorne to makg up the difference. The work of the Trust is carried out by both full and part time teBms amounting to around 130 people in the UK and well over 350 worfd.wide. Th8 Trust does not pay 'comm9r(aal salaries, but op8rateS 8 system of discrotionary alk)wance5. Some ol the full-time team who have alternatsve means of income choose not to tak8 these allowances. Thg work is fvrther supported by over 400 volunteer rninislry team members who minister to p80tye on healing ratrg01$, mlnlslry appointsnenls and during ministry times on training courses and longer-temi PTograms. The amount of time that volunteers make themselv8s available lo help in the work of the Trust d8p8nds on Iheir individual circumstances and can vary from a few hours a month to as much os four days a Wk. The Trustees greatly value every member 01 the fijll. part4ime, and volunteer teams, apprecialFng their commitment lo the work of the ministy and thank God for every m8mb&r of the team, induding thoso who hav8 s8Th8d in tho past and have now moved on to olhor work. The Irustees look forward to continuing this valuable w¢yk and ministy und¥r GcKf5 guidance and enabling in the years ah8ad. Review of aetlvltlès and ftrture developments In 2020 the work of Ellel Minlstrles Intornatlonal continued aroLbnd th8 world. bullding on the foundations that have been carefulty laid down by the Trustees and staff in previous years. All the ov8rseas operations a legally and financially Ind8ndent, although donations are periodically made by the UK Charfty lo help establish and support the ongoing operations of work in less affluent counlrfes.
TPIE CHRISTIAN TRUST (A company Ilmlt•d by 9uarantè•l Dlr•ctors' Raport Iln¢ludlng Stratogl¢ RoPOrt} for th• purposos of sectlon 417 of the Companles Act 2006 and Trustees. Annual Réport for thg purposes of Part 8 of tho Charltlos Art 2011 forthe year onded 31 December 2020. All overseas developments are pioneered and fvnded locally and tharè arè no new liabilitie5 for the UK Charity associat8d wlth any of thèsè extensions ol the work. All Ihe overseas centres operate accordlng to the principles laid down for the original UK oporalions. Extensive work continued Ihroughoul 2020 on lh• coMpte rgbuilil ot lh8 Charity's website, so that all the overseas operalTons will have fully integrated pages wSthin the corporate websito of Ellel Ministrtes. This will finally be operational by th8 end of 2021 and will be well worth the extended wait for its completion. The suThmer of 2020 saw the sacond UK intake ofyoung people on our Undiwded gap year prcoramme 8$ tho Covid-19 reslrrtions eased. We are ¢urTenlly able to facilitate overseas and EU nationals joining ¢)ur t8am for pgriods of up to 2 years, $gNice or longgr-temi training pr¢>Jrammes. In spite of all that has happened with Covid-19 durfng 2020 we have very signfficantty been able lo adapt and increase our online actNltl8s. 8v8n when our physical centres havo bean closed. Key devekipmenls are from Pelar Horrobin's waèkly livestreams which have reached a huge numbèr of people- many of whom we pe will visit one of our centres once we are able to reopen. ThLin we also made available free online our Truth and Freedom teaching series and anothor of our Truslges, David Cross, mado a sorios of lèaching vSdeos whlch we have ieleased with other vBJeos throughout the year. Statistically. our corKx)rat8 YouTub8 8CCIMJnt has done very well during 2020. Frc¥n the date of the first lockdown on 23 March. until 20 May 2021 the total number of vi9ws we hav9 recVed is 162,000. Thi5 arTtounted to people watching one of our YouTube videos for 37.000 hours. We subsequendy Increased our YouTube subscriber base by 3,500. Views for tho same pgriod on our Wists"a hosting account (Us mostiy for nOyOutUbe vldeos hosted on our website) are 25,000. We aLso13un¢h8d a 'Let's Talk. FK)dcasl al the end of 2020. This has had just over 18.000 downkxds from its 11 episodes so far and has reoched individuals in 91 drfferent countrbes wor1dwlde. We also made the 52-part Steps to Life audio serios fr9ety available on our w&bslle and li h8s had over 46,000 plays to d818. Strenuous efforts Continu lo be made during 2020 to continue to increase operating effi¢igncy and mlnimise unnecessary expenditure, these efforts belng further drfven by the considerabla r8du¢tion in e8med income ijue lo the effects of Covld-19. In particular this has included the following.. Taking full advantsge of the.UK Govemment's Job Retention Scheme Applying For all availabl8 grants from tre government due lo centre closure5 (Gtyndley Manor, GME, Elbl Grange and Blairmore have all benefiledl Suspending all ¢onlra¢ts that could be pul on hold- laundry etc. Applying for rnortgage repayment holidays for Pierrgponl and Ellel Grange Haad Offlce Taking out a Bounce Back Loan for Sovereign Worfd Lté. This effectively enabd us lo r8pay 50rn8 ofth8 loan lo H8ad Offica mganing $h wuld come Into Head 0ffi¢g trom the new loan fundlng. Sending out an appeal lo our supportws wilh follow-up COMMUnatiOnS asking for supwrt. Recelvlng slgnlficant legacy incc*n8 during the pandemic period whtch covered the shortfalls in Income.
THE CHRISTIAN TrUST IA company Ilmlt•d by guarantsol DlIKtors' Roport Ilncluding Strateglc Rèport) for the purposes of section 417 of th• Companio$ Ad 2006 and Trustees. Annual Report for the purpo$•$ of Part 8 of th8 Charitles Act 2011 for th• y•ar •nd•d 31 Oèeèmber 2020. The Trustses are grateful for all the supporteis who giva so g8nèrously to maintain tho work in the UK. enabling the organisation to rèmaln flnancially strong, as it spearhèads the encouragem8nt ol new ovwseas developments and facilitstes all that is necessary for the running ol a slgnfficant WOTk&w¥Je charitabl8 work. The TTUStees look forward with faith and enthusiasm to all that lies ahead for the futurè w(*k of the Charity. although, as 2020 cama to an end a further national kickdown was k)oming due to Covid-19. The TnJst6es continue to do everything possibl8 to limit tha n8gative ¢onsequences of tho paThJgmlc, especialty through minimizing ovorhgatJ costs and appealing for additional donations. but. in common wth mo8torganisalions. there has been a downturn in eamed Income during 2020. the impact$ ofwhich will continued to bè félt bv811 into 2021. Fund4al$ing disclosure As a faith&s8d organisation, the charity reli88 on donation income. and this lakes the approach of 8riodi¢ appeals for flnanclal sUPPOrt lo those WIM) are support8fS of the work. We also adopt use of charity boxas in our c8ntre r8c&plion areas for unspeafiod ad hoc donations which may be given by those attending our centres and oc¢asK)nalty tske up frea will offerings wher& appropriate. We actively promote our 1 in 1000 and other regular gfvlro schemes to those who come on ccyjrses or attend any of our events and wish to give a speclfiod amount on 8 regular basis lo support our ongoing work. We do not use Ihg servic8s of any profes51onal fundralsers or comm&rckg1 participators but do roceive personal donations given via Stewardshlp Glving S8rvrc8s, Gharities Foundab"on Vouchers aThJ othèr simiL4r schemes. which may include online giving sites. dèsigned to help individuals channel their personal charitable giving accordingly and in a tax efficyenl way. We ara fully subscribed to the standards sat by the UK Fundr8ising Regulator, as the trustees consider this lo be the best interests of assurin9 those wishing lo support our work financially. There are no known complaints nC9rning fundraising lo rert and the trustees ar8 mindful of the importance of protectin9 vulnerable individuals; therefore. care continues to be tak8n to avoid unreasonable intrusK)n. persistence or undue pressure when s8•king any fomi of financi&l support. Inv•stm•nt pollcy Under tha memorandum and artleS of associatlon, the charitable company has the power to make any investment which the trustO9S $80 fil. Investments are rnade where required to fijrther the aims and objectives ol the ¢h8rity. Golng conc•rn After making appropriate enquiri•s. th8 truslees have a reasonable expectation that the charity has Jequale resources lo wntinue in operational exlstence for the forèsèeable future. For this reason they continue to adopt the 90ing CDn¢em basis In preparing the financial statemants. Further details regardlng the adoption of thè golng con¢em basis can be found in Ihè Accounting Policies.
THE CHRISTIAN TRUST IA company limited by guarantee) Dlroctors. Roport Ilncludlng Stratoglc Rgportl for the purpos0$ of sg¢tlon 417 of the Compani9$ A¢t 2006 and Trustees. Annual Report for the purpos•s of Part 8 of th• Charftl•s Act 2011 for the y•ar •nd•d 31 D¢¢¢mbèr 2020. Summary of Income and expènditure Unrestricted Re$tri¢ted Total Total Funds 2020 Funds 2020 Funds 2020 Funds 2019 £2,549.TT9 £86.941 £2.636.720 £2.704.723 £(2,221,3721 £80,022 £{2,301,3941 £12,688.325) Totsl Incoming iesources Totsl re$our¢as expanded ExGhange10ssos on n9t investments £{25.3191 £125,319) £(46,880) Not movom•nt in funds for y•ar £303.088 £6.919 £310,1)07 £128,482) PTlncipal rfsk$ and uncertalntles Detsi15 of the charitys financial risk manag8m8nl objactives and policies ara includod in note 35 lo Ihts Inancial stat8m8nts. The charity has strong support from a wide cross section of people however the principal risks and urbcertalnties relat& to thg uncèrtainty of continuèd supporl from donors and attenLl8nce al courses, and th8 timing ol rèceipts. A senlor membgr ofthe Ellel Grange staff Is tralngd and quallflgd In all aspects of the Health and S8fety of our UK Centres. Wher8 any changes are envisaged to our operating procedures. full risk assessment will be undertaken. Reservos poII¢y As a Christian Mission, Th• Christian Trust is mMItt0d to fulfilling a Gcxj-glven vision and Is dep8nd&nl on the prayers and gifts of Supportérs for the continuation and devebpmenl of the work. The trust believes that it is not appropriate to have a policy of holding high cash reserv6s. Th frÈ8hold prtsperbes which are held a5 security for bank borrowings currently have a market valuation In 8xcess of their original oost. A repcrt by an Sndep&pdenl eyrt, speclfic8lly commlssloned fcjr the purpose In 2013 provided a wnservative valuation of the UK properties ol the group al £6.400.0001£4,650.000 parent eharityl. Tha financial sècurty provid by thè assét valu8 of th8sé proporbes is adequate to cover foreseeable future financial eventualities. In common with many other charities, thg trust lieS on a CoMphenSlve procass of budgetary planning and ongoing financial mniloring. This enables the identification of potential problem areas and gives the opporbjnity to take correcb've action whgr& ne¢essary- The total funds 8Vailab as 8t the end of the year amounted lo £3,368,903 of which £239,951 is restrthd in their fvlure use. Unrestricted free reserves amounted to a deficit of £2.724,t95 {2019.' £3,208.8341. Th8 negativo fro0 reserves position is attributsble lo Ihe fact that the definition excludes the fixed assets which have been ffinanced by long term labilities whlch are Included wlthin th definition. This deficit is covered by the valu8 of freehold propety. It is the intention to reduce this deficAt through tutu aclivilies.
THE CHRISTIAN TRUST (A ¢ompaTry Ilmftod by guarant801 Dir•¢t9rs' Report Ilncludlng Strateg1¢ Report) for the purposes of s•ctlon 417 oltho Companies Act 2006 and Trustees. Annual R•port for the purposes of Part 8 of the Charitl•s Act 2011 for the year •nd•d 31 De¢emb•r 2020. Principal funding Incomè lo the Iru* in 2020 amounted to £2,636,720 12019 £2.704.7231. The main sources of these fvnds were as folk)ws: 61.7Vo12019.' 40.7%1- Donation Incoma and legacies 15.4%12019.- 42.4%1- Trainlng and conference income 13.6¥.12019'. 16.9%)- Trading company incLJm8 includrn9 media salos 9.3•h12019= 0.0% COVID relatod grants (erall, there has been a net increase in the Trust fiJnd of £310,007 (2019.. defftase of £28,842). Donatlon$ During the year the group mad8 charitable contributions to other organisakn'ons and individuals amounting to £112,75612019-. £104,886). Structure. governance and management Constitutlon Tha charity is r8glslered as a company limited by guarantaè without share capttal and was set up by a Memorandum of Association on 24 December 1993. 11 is registered under the Companles Act 1985, registration number 02883771. The chadty is govemed by its Menw)r8ndum and Articlos of Ass(ratIOn dated 24 December 1993. as aménded by special resolutions dated 28 September 1994. 18 October 21W and 9 April 2008. Management of Ihe charity's affairs is vested In the CdireCtorS. The principal object of the charity is lo provide training and personal ministy in Chrisb'an healing and dlscipleship. In the event Df a wnding-up, the present members and those who have ceased lo be a memberwithin one year of such an event havg guaranteed thg liabiltties of the company to the 3um not oxceeding one pound each. The Memorandum and Articles of As50cialion states that the number of members shall not exceed fiftgen and shall not belgss than thTrg. Method of appointmont or olè¢tlon of Trustsgs The management of the charity 15 the responsibility of the trusleas who are elected and copted und8r the terms of thè Akn'¢les of Assocwtion. All newly appointed Iru8tses and mambers Tequlre approval frgm the Board of Dire¢tors. Pol•cl adopted for th• inductlon and tralnlng of Trustee Newly appointed Tru51eos aro provKJed with a comprehensive IndtK)n lo Th8 Christian Tiusl through the provision of in-hcMJse training.
THE CfrIRISTIAN TRUST IA comp•ny limited by gu•rnnteel Directors. Report (5ncludlng Stratoglc Report) for tho purposas of soction 417 of thg Companie$ Aet 2006 and Trustè•s' Annual R•port far the purposes of Part 8 of the Chariti•5 Act 2011 for the year ended 31 Oecember 2020. Pay policy for senior 8tff Totsl remunaralbon of £46,74712019: £5S.0321 was pald to InJste8s during th8 yèar. The r8muneration paid to trustees and other senior staff such as centre directors is reviewed regulady by the executive leadership. The rates of remuneralton ar$ sel in line wth the roles carried out within Ihe organisation. The remunerallon also lakes into 8¢Gount the bgnefits reiVed by the employee8 for example full accommodatlon and board when provided. Organlsatlonal struelur• and d•cislon making The Executivo Lgadership is group which dirgcts the WQfk of Ellel Minislries under the overall leadership of tha Int8rnalional Director and board. in accordanc8 With the ViSkJn and mission GOJ gave to the ministry. The executive leadership meets on a regular basis and the centre leaders manage the day-tsday op8rations of th8 charity. The current Executive Leadgrship arg as follows.. Mr P J Hottobin Mr D M Cross Mrs F G Horrobin Mrs D Cross MrTSoo Mr P Ryan Mr T Kovacs Mr A J Taylor Mrs C Taybr Mr K Bandy rRPook Mrs A Wood Mrm Mwre Mr D Puffett Mrs E Soo Mr P Chambron Both Jill Soulhem and Paul 14Vatson retired from the Execulive L8adership during 2020. with Donise Cross and Allna Wood due to follow in early 2021. Related party transactions Transaclion¥ wlth related parties ar8 (Jlsclos8d In nots 3210 thè firancial staternents and in accordance th paragraph 33 of thg SORP (Accounting and R•porbng by Chariti95'. Statement of Recommended Practtce (effective 1 January 201511. Risk managemfrnt The trustees have assessed the major risks lo which the charity is exposed, in parbcular those related lo the opgrations and finan¢es ofth¥ char¥ty and ar8 satisfpd th* systems 8nd procedures are in place lo miUgate our exposure to the major risks. Subsldlary companles In the UK the group operates through the following wholly owned subsidiary companies.. Ellel Ministries Limited Sovereign-vvodd Limi18LI Gtyndley Manor Estates Limited Oversea$ Edu¢ation Trust Limitod med118an8an Tours Limited Intemiediale holding company Book publisher an¢J book antl other media ralailer Management of 34 estate residences at Glyndley Manor Intemadialg holding ¢ompany Faulitator of overseas lours All of the active UK subsidiaries are involved in trading both to raise addItnal funds lor charity and also to further the charitable objectives. Sorne Produce and dlstrlbute Christian Ilteratura ralating lo thg ch8rWs tralnlng courses. 11 Is the intention of th8 Iruslees that each of these cunpanies should rem8Sn profitable. 111
THE CHRISTIAN TRUST IA company Ilmltgd by guarant•el Dlrèettirs. R•port {includlng Strat•gi¢ RoPOrt} fgr the purposes of section 417 of the Companlo$ A¢t 2006 and Trustees. Annual Raport for tho purposes of Part 8 01 th• CharlUe$ Act 2011 for th• yèar •nd•d 31 Décèmbèr 2020. The charity now hokls 25.5% {2019'. 11.7%) of tha sharè Capital of TCT Prop8rt19s No1 Limited, a company hokling investm8nt prop8ty. followng the purchase of 20 A Ordinary Shares of£1.000 aach on 17 DeGember2020. The shar8 capital ofTCT Propee$ No1 Limited Is dlvlded into Ordlnary shales and A Ordinary shares of £1.000 each, Ihe Ordinary share has as many 8ddilional votes as are required to dgf88t or p8$3 a resolution, The Christian Tnjsl hold the onty Ordinary $hare in issue. On this basis il is deemed that The Christian Trust has control over TCT Properties No1 Limlled and th8 results of TCT Properties No1 Limitad hav& b8èn included in the consolidated financlal statèments. ¢erSeaS work in Hungary is undertaken in part through Ellel Ministries Hungary Kft. a wholly ownad subsidiary of The Christian Trust. Asso¢latsd •ntitie$ Other overseas work is undertakèn through kncally incorporated companiaslcharitiès $$tablished in th8 county that th8 work 1$ takirYJ place. Currenlty the main local enllUes (other than subsidiarigsl ore.. Ellel Ministries Australla Ltd Ellel Ministries Aotearoa Z8818nd Ellel K4inistriss Bulgaria Ellel Ministries Canada Inc. Ellel Ministries Canada W9$1 Ellel Ministries Columbia Inc Ellol Ministries Croatia Ellel Ministries Dgnma Ellel Ministries Finland Ellel Ministries France Ellel Minlstries Gemany Ellel Ministries India Ellel Ministrie$ Kenya Ellel Ministri&s Latvia Ellel MlnSslrles Malaysia Ellel Minlstries N8therland$ Ellel Ministries Norway Ellel Ministries Romania Ellel Ministries Rwanda Ellel Mini8trie5 Singawe Ell81 Ministries South Africa Ellel Ministries Sweden Ellel Ministiies Switz&rfand Ellel Minlstrles USA Inc. Hungarian Christian Trust Magyar Keraszt6ny Alapifvany Each entity has signed a licence agreement with The Christs'an Trust agre&ing thai their policies. pracb"¢8s and objectives will be in accord with those of The Christian Trust. The Trust has appointed representatjves in Papua New-Guinea lo c(rdInat8 the work in thi5 ojunlry which is gonerally carried out with h81p from other established Cenlres. Quallfying thlrd party Indemnlty provlslons During the year and al the dal8 of approval of the dir8¢tors' report, qualifying third paty indemnity provlsSt)ns were in place in rgspecl of th8 tslee3. Trust••$' r•$pon$ibilities Statement The trustees Iwho are also dlreclors of The Christian Trust for the purposes of company lawl are responsible for pr&parin9 thé trusi8•s' annual report and the finan¢ial staterrenls in accordance with applScabl8 law and United Kingdom Accounting Stsndards (United Kingdom Generalty Accepted Accounting Practicel. Company requires the trustees to prepar& financial stalaments for each fln8nclal year which give a true and fair view of the stats ol affalr8 of the charitable company and the gr¢JJP and of the incoming resources and application of resources. including th8 income and exp8nditurè, of the charitable group for that pariod.
THE CHRISTIAM TRUST IA company Ilmltéd by guarantéè Dlr•ctorg' Roport {In¢ludlng Strateg1¢ Roport) for th• Pu0$08 Of soctlon 417 of th• Compan19$ Act 2006 and TStS. Annual Report for tho purpo$o$ of Part 8 of th• Chariti•$ Act 2011 for the year ended 31 December 2020. In preparing these financh?I ststements, the trustee$ are required to: select SUItab accounting policies and then apply them consist8ntty' observe the methods and principbs in the Charities SORP., make IlgmentS and accounting esllmates Ihal are reasonable and prudent., ststg whethor applicoblg UKAonting Standards have begn followed, sublgcl to any materfal dapartL4res disclosed and explained in the financial stslements., prgparè th8 financial stat&m8nts ¢J) th8 going concam basis unle$$ it 1$ inappropri*0 to presume that tho charitsble grP will continue in operation. Th8 tnJs188s ar8 r8sponsible kn k88ping ad8quat8 accounting r8cords that disdos8 with r8asonabl• accuracy al any time the financial posibon of the charitsble group and enable them to ensure that the financial statements compty with the Companies Act 2006, the Ch8rilies and Trustee Investment {Scollandl Act 2005 and the Charit$ Aco)unts (Scollandl R9guIatnS 2006 las am8nd8dl. They ar8 also rOSPCsnsible for safgguarding the assets of the Charitable company and the group and hence ft)r takir4J 8$Onable steps for the preventKJn and detects'on of fraud 8nd other Irregulari8$. Dls¢losuro of Inforniatlon to audltor Each of tha parsons who ar8 Irust8•s at tha time whon this trustsgs, report 1$ approvod has ¢onfimod that.. so far as that trust08 Is aware. thgrg Is no rfrlwant al11 information of which the Charitable group's audllor Is unaw8re, and that trustèe has tak8n all staps that ought to havè bèèn tsken as a trustee in order to be aware ol any relevant audit informats.on and to e5tabl¢sh that the charitable group's auditor is aware ofthat informatiThi. Audttor Thè auditor, A28ts Audit S•rvicas. is daamad to reappoint8d undar sa¢tion 487121 ofthg Companies Act 20Cfj. This repjrt, incorporating the group 51rategic report, was approved by the Iruslees, in their capacity as company dirgthrs. ThÉs report wa$ approvéd by tha trustaès on and signed on their behalf by.. MrAJTa Truslee 12
INDEPENDENT AUDITO REPORT TO ThE MEhlBERS OF THE CHRISTIM TRU8T ILMITED BY GLIArtANTEEI W4 ha¥4 audknl stskÈmknis ofTha ¢hrislw Trust greN chaltatdè compAnrfl its jUtIar1•Y Ith•'groLv'ltrthoiw4 31 Dember020 Vwconso4dai•Y stamenlolfiwdal ros00. th• ¢hwtyb8lanc¢ shgèt. cthixlldBW ¥twi ¢o5h Jnd rnte¥ sMents. IMULIW A SummAry of 9gnifrCl aettyJni(v fjnarKkl reptyDng frAmaM?rk b)at r 3PWI Ihdr pigpqralknils United knunling SLyndaids. IldI FiDCal S03rd 102 Th& FlngtQ StandArd wIlc4 In tn• UK anrt ROY101 (Untted ngdrAm GèrrtralyAcctyied PrAthel. ourothknn Ihè finan4 9thL4ffnti". 'Iro•4 lttdt•rvlewofi$w8 w0up.64 p8rentcWknblè 8¥ 8131 DeGembw 2tr20. end otth2wllup End parwt thwrk•blectyrwy'8 Inctynlng 10g¢JJfc¢sAnd 4plk4ti0n OIrthyW, th•sfoup psrithJnb10 COWny'S incomo èfml rihaeNd8d'. .hqve batn pwpetyrepad In Vnil¥J Generaltrs Accoun79 Prxb£e'. . have baen pryaieo hi rdterth the wwrèments ofd coMpanAct26 ¥nd ¢baD1t201l. th•ChaTrbsandTntst40 Inw$fvi18coUandlA 2W5 andwUbc6 and 8tslthè ChAritiesknounl¥lSwUgMI Rc4ul8bons2006. Ba$ loroplnlon Weconductsd ourwditkn le[danth ALb9 IUK>l¢fv{UKllan4 applc4tle .Ojrr•IPts1L1Ig sasar? furdwdBs¢rbed in thE Audibr's iewnsknilitrstslhe of• finwcialstatements seclon ofuurwt Wg 0t0f1h8 gmup pamtcharth crywny 3rcwd¥nctrwithth•othical rewiremertsthat aro r41gv3ntthOuf of thÈfInan8l In ble UK, Includiw FRCS EthieAIStandafd. 8ndvJe havofrJlfknl Nrotroi¢thlcai reswaibilrtbèin Miirpmgnl& VleèoSM thaithèAudItknen¢e Weh081n ¥ luffrild approprfatè to Pft)vth È b8$ig w¢ifjn9 Incial stal•rnonts. we havernncludodthattrm Nst4¢9' U01 iiiè w>ifva ba5isofaccowOr& in theprepArAtw ofthè1knarl statwrwrt¥ Is Ba8donth8wothwa havè wform8¢, Idefiel 4rryrnBtèrfrKtsirtrCIat1llg tyevgntswcrndlikns trLal. kndivhluaiiyor lIe¥t. m8y ca>t 8¥nltkafitdoLtstcnthe mmpaS 4biltyto ¢ctkn 8A ts)nttmfLYJ pemdofat k%9•tMeke mnthg franwh&ith¢fThrv ¥tknnenl5 authorfsed rro5ponsibhes the respOwl0•S r•w¢ttOgOing adeSd Inthe rel•VwtAQcQ 13
INOEPEKIENT AiIDifoRS REPORT TO THE IAEMBERS OF THE CHRIST1414 7RU$T IUPAITED 8Y GIIARANTEEI Olhwlnl¢rniarioTh Elatgrngntsand raudItorsr9Port Lhjroplnbi on n151atthn1% thos mt ¢llyvth8 othgr Infrxmn ald.9pit0th•oxtODtQthoTh4lso QXFlkMy $ied ourreport d) eye55ortyformola5suiarKe ConcJ%n thwetsi. kn oaaltO1 Ib• gtat•m4nts.our r•sF¥jnknIty VJ th• othw hifonNI(fftand. kl (1ti1g stt. e¢JDddBr8lh8r InforMff mjwalty I]nSIt@twth the In wdilorothetts8 8ppp4r¥ to bg m8leri¥lly m185w4d. Wwg Inconsi5tenGw N awarQNmatwi rniJJtawment3.wa tn requirediDdetonninJ whether eTlS a rnslerial misS¢mentIn nadata8rf5 crfa mètenal r•gylr•d * r<{rtthatl¢L We have nthng ty re inthisreqard. aTroth•r milt•rJ pr•scrI1 byth• £t20DS In r(linIC. basJon th•vrt¢k th•401•Lth'. . the kmI8gIven kn thètruth8&' reporL incbJdkngthegroup r¢wrtand diroctLTh' rwL Sxthfrflnen¢KqlyWk)rw¢hthhW $w•msDIS •[ IAthrson to r•portby •xe4pUon I11010r knovAwJg8arnl undndiig oftro ond p¥rgllt(wiWkn c•mnYa itsfjnv1nMgrrtobts1rn &i ts fxrseolthw¥Art, w•havo not Idjmfied missworn•nt8 kn th•stral¢rrtarntt directors. ry We h&¥e Dothlng knr•wrtlnre5PXtofb• frAJ9 mttw8in tovthkth th8 thpansAct200B, kn•Ctr0iVdesktI1 andthè Cknb89 {S¢01a> Regulathxa roqulre u5 b)report LOYOU il. Inotsrcdnl. .qUaactn1ft1 have kèptbyts p8rentch8thMpKty,Qrrthrns l&bfOr0urrfIlhIY• nOtVi>W byus'.or • thoparwtcnArttabl•eompany'$flnAnpJal swernwtsarfrnot Inagr••th th• acc11 rg¢udi and rJm$,' or certain disGbwreso14jrertryu' rernLDerJtlx Wfied tylawarg mt m•.. ry ' we havenot recavJ al the InfonnAm0nd 6xpltiLwe Mqurre ftytyJfwjL 14
INDEPENDENT AurT0S REPORT
TOYHE AlBER$ OF THE CHRISn TRUST
IUMITED BY GUARA14TEEI
hjlty the ivJ$t•8s' rwnsibilitiès Staiemeni Setaut 10. thstDJsthes Iwho ¥• also thfyfy4ctor5 clbmehsriiatik lorth&p8
ol conwny ar• r•yry4ibla Icrf the the fi(11 and foi bng satsfi¢d twl a tru• lvl8w. such iTraI wn141
th• trust8051mIne 01finaal atstThii¥ thèt•ru fiEefrom miS¢8teMelll, whetherduetyfrwo oreNor.
In prwarryl9 finarrcl4 slawDeMS. th• trusta&s ar4 r4spon$ibl& for aBsg551ry tho 9TtyJP'9 p¥•ilt tharitaido ality b contirth aj a nll ¢ttem,
d15th9, w appl8, roLqtsd to gll9 uSg Ihe corthr ba8( accwntyry unlèss th• tru$tOJS ther Iniend I1 group
parentctrTttablQcompnVwIo wer4Ions. or have no real$taN[ab¥&bVttO th so.
repDTrstyllOTIh•lUdhOlth•flnnctsl
W• nav849BnapOrled a$ thb2fUndlrgèct 44lillclofthg ChgnDe5 andTIu8kn InvestonI{slnd>Ad2fm7s wthriho Cornp•iltsAct2006 ¥¢¥t
OJrotyKtives aièts rea8on¥bb a¥wJrarKe aboLd%thether strnents as a hole ar• fr4è from mrl¥misytstamrt vthBth8rdug to trwl orwr(y,
and to i$8ue sn report that InL& Opmitsn. Relsonable g¥¥urance is a Ngh ¥•1 ol but t 4 guAiahl8a an aud c4nducied
arcoidgn(9 1b ISA8 IUKI ¥AII alwa Y4hon h exk. Pth58tsknThnts can ath from fraud or wror Etm5idBtBd thari W.
Ithldu?Yor In agmaig. Ihpy¢ouK T¢bIlboxpted lolnlbJ8ntsth¥ownfjmd0Q1bjlls oluset¥tsk9n tho bas15 of the8eflnancial Slmnts.
ttOwhlEh th• ¢oNld•¥•d
THE CHRISTL4)I TRUST IUIAITED BY GUARA14TEEI ¢on$olklaLOd Stat•m¥nt of Fln•n¢lalAthvltl•A Summary and ExndItUr0 Acc F•ith• bar J1 O•¢•mlw 2020 R••trktsd Fuh Td•l Fund• 2020 202• 2020 2019 DtIOnS and CharbI8 acbvi••s 1.541JaB 4117220 Y57070 24063 1,826.4 407,220 358.9411 244,163 1.101.625 1.148.314 456.861 I.¥ID 08.. CO19 rded grwts InV4th119 Total In¢ 2149,779 1638,720 2,704,723 R8i$ity funds Ch&mible Otrr£tsts 4S,fj64 1,142.653 41Q,Q77 50,595 2.228,884 1,762.e31 410,077 Totsl •xpDndliur• 2,?n 1301,394 2.686.325 Illt lrtaffli b•forn trnnshrA 328,407 6.919 33&326 18.398 Traft8f•r8 Funds IIAtln£om•ll•xpgndttur•l b•fornoih•rrgcognlsAd ylns and 328.407 6.919 335.328 1&398 Fown exthBngÈkn5ses 125,3191 125J191 146,8801 N•t n%)v•DMl kn fvnd• 3DIIJ8B V19 JiQJ)J7 {2U.48ZI TotslfunO& kn4hlf(KWaTd 24 2.n44n 233,D32 2.976. T0ts1fnd•cwr forr 24 J.Q1&559 239.951 3258,51 2.918,$03 A¢bvIVèyreL4te LocontilnI Tho otementoffin8n¢l Ildea all galns ano hJ8Bes rèca)]niied Intho y•ar. Tho pqgBs 18 1043 form partofth95efwcI $I*9ts. 16
ThBCHRISTL4N TRUST IUMITED BY GUARANTEEI Company ryrnb•r. 02183711 Consolldated and eh•rfty Balan¢• Shools A? at 3111•c•mbEr 202ts GACp 31 Dt¢qmty•r 2020 31 D•c4mb 2019 51 D•¢•ffj 31 D•c@nèT )19 Flxed aa10 htsngible 9¢t¥ TangIts a8set Inv•stffl8nts 14 1$ 1&17 17,727 $75,410 2.000 32.892 S..463 250.wo 4.378.129 107,11$ 4,530.502 78563 5.853.147 6.051.315 5.114244 5.32S.86S CuTh•Tht •u•t• 71.420 n.232 284.668 283.961 3,685 377.948 ¢Q&610 6.oeo 246.743 28125S C48h JI b4nk4n4 In hond 640,179 1,111.179 SY.058 ewlthki lThyr 155Z2011 IM8,4621 {520A091 N•trunntaSMtg1{l•bllht•AI 78.659 623.991 13,849 514.378 6.129.574 3.110,236 5.3%.S13 ¢rK4torn.' raTrwnts tsll du•4ft•rmor•lkn ¢neyear 13,145Ani 13.1154,1611 {2A41.8971 12.5T9,J351 N•t4•5ets 3,075.513 a,1653? 2.760.178 UDr•strtsd lufftds . Unrtth¢d irtoma 24 158&323 4JQ,236 2.273.606 441,8QS 2M94151 2,085.281 441.865 TDtal wr•sir 41118,359 231.951 2,TtSA71 2JZ5.387 239.951 2.527.146 Rwtxlct•dfvnd• 24 233.032 233.032 Total¢hyfumd• 3,258,5f• 1948.503 3.16338 2.76Q.1T8 nOrty1nt¢ 110.J93 12T.010 &360,9D3 3,075.$13 3,1¢X33 2.7eO.176 ThB financial 1iat•mAnts I¥W• WtoYBaJnaathLY48•Y forty¥uobythg tyusw thi Z i /9/2021 a40 gNed on theirbghoff by.. NrAJ T•y&x Tho not•$thl 19 to 44 fwD pjrtof ihesefinancial tststèmèAt*. 17
THE CHRISTIAN TRLIST IUWTED BY GUARANTEE) Con•olidted ca$h fl•w $tat•m FOrtythr ¢tydvd 31 DvG•mber202Q 2•20 2019 Cash firM•frorn 371,4 217.81e CAAhflow6 trom Inwstlng 4¢d¥M•6: irtfjrgst roCVd puha9£ of flxgd agget$ Puttias• oltanglblofixtyJ¥¥s•ts Ptsrcha90 of NCI shares Prowd$ ttiwn•ab fix¥d •wts 147 11.0401 1159.14ei 1118951 Natcath ustdlh In¥Esllnq 129.4511 1eo.043 ¢ash fiMnelh# thtllvMknÈ'. IncTease inl{RepayMts(1) borrowAry$ 114J73 185,4141 IT2,7101 192,8921 N•¢u•h uK•d icthAIkn 28.959 116S.6421 ng¢ ysh Inlh•y•ar Cash and cqsh wJNAients brwJhlknq-4 370.W6 25457B {107.868) 372.447 C4•h and ¢uh¢qurf•k•nt•¢•rfod lovrd 27 63S24 2fj4.5T8 R•19t0.. Cath at bankand In hand Bank o¥etrdft6 Irdwjed li uedkor5 ODoyoar 540.879 293.961 129.3831 635,524 264,578 18
THE.CHR15TIAN TRUST
ILIMITED BYGLIARANTEE)
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THE.CHRISTLIN TRUST (UhlTED BY GUARA14TEe) Po16cl•s l¢•ntinu•dl F•rth¢ye&r ed 31 D0Mber 2020 Exrjth rwnis84 once lhofya 98lrywn¥lNdNe cllgaiknn to rnthe • pOentt0 a Ulrd party. wc&bl•1nairymtWIll borwired Ana tr 4fthe &Yigiknc4n be mea8ured adtAbkn h)s¢ ts)8L% by whjre prlmary elm delvery of acowiies and 9WvIC rt48cts of th• ChBrity. Indth cwts thAI c4n be atoOdbyyto ch •¥riys8n4 thD$6 coyts Dran indired nJre necessary IDSUPPDriUw. GDVe[n& kncbjde thoje rnsts assc¢Aat•d syrth theconstttrthnal FA(rJlrBnLs Ih•audittseG profè&gK) irKurred. gUPPOrt¢tts thg rAeuorie5 Dlthg 5tJtsmerrt offfn4ncr81 arf¥eS w a basls do5n+t0 r•fi•ttth• 59 ofthfy re$¢86 atp on an •pwwate ba919 Btsff brne esbmakd uw•. oirecY èknled co4t4 InGlude COSL% offernc8$, an¢ book purcha5•9. xCI)Mat and trwel coats irtutred In nJnntr¥ wursèy. Supr<rt ¢o&ts wrnwille adIn81 costs Illwr In the rUng ol the PTWtbBs and wJrs05 stsYt49ts. K11tyt(ts, 4thBrti&r¥J gnd mB1ntWw4. atè iwurred iTh8eekry ¥dunMryconkntyvtson¥ 01?11rhje ofdiXBrninkng iiformation In 088. Cvyts ofraisingfuntsJrecosts 8trMthgvduntwykKvm•. thos• in th$thatlSe fvnd9. Al expended ¥re e0f1ffeWVerBb1ÈVAT. IrtknWVflxadsS•t$¥nd wr%11 (kthllls h dfferencebetrtwn an acqu15don ofa bUn0$S aid th•fdfvahMofthg hfjgnitsdas ¥bY I.1115 Hmti0d to 0ffmnC OvefiL% eylNnd u¥efiJl IK•. IntawiblEfrxed¥$¥ets4ro staledal cost amoA#atioTh AnbaA klcakxkted so 4Sto Kyttè ofqn 0998L 189914 ro8ur¥3.¢y10rknD u¥olul eNnomicI uf theASet. JaDlI pro¥k1 #tthe rn1s5.' wetygrt•dgv0fflth % WahlIne 33%atramvm0 5% ¥troighti
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ThE CMRLSTL4N TRUST ILIMTEO BY GU1414TEEj For th• y•ar •nd•d 31 D•¢•mb•r 2020 Fkn4ndAi InrumnI1 Tro thadty has Ilmndal a56ets of a ihat a5 bBsts Basbc fknandal Instrumpnts rrn Inits&lV wniS4d at transxlon vu• and Subs•qu•nuy rngASUrnd at thdr 94wgm•nt va& wh th• •%e4plon cl bank which ¥• subs0n m•aiLThd 4t C¢st using P•rkn group cwrtNte5 lo InLlvhJal personal PenOn pla. Pensbn CQGts tharyd thè SOFA Tekwnl ts con1rf1(rf payable by ihe group kn thè yoAr. Pgrts vJrr•n MMei¥y as8ei8 and in Irrripn cur¢ èretranStryd al th& T&ièoftrxGhangp aithE balarKethEeLdate. TT&n5aGborb5 thvJn wttwF re¢¢rd9d•tth• r•i¢ Jth¢ tr•w¢ln. Ex¢trn•0dfvw¢•s aVAtl lottrrtuohth•stst•wértoffr¢w th#NitW. The balanc4 sheetresutsofvehJn Subsi?rI0S are transknj alme rBtsof èxcharyruling all b8knco smgldate. &FAtransacbJnslnkngn rAmnea trAn$l&tdd avarngo excèw rAtaforthè ACCOunlng pernd. Galns tètranswoTrolf)telW tn rgwgni5odwl1n •¥¢hary• r•51rn5. Ex¢•pYon•l Exc•whxal Inxlno r6 roc$•d Inih•pwknY ttlimcglyabk. excgw41•y•$•$arr•WnOd6Th9nc¢nmtsaSffjt¢ mAtthth• incom•. Wh•rn in wdEr[DrtheCh1iYkn(ECve inwm¢trg i¥ ¥howffl n91inthw¥tstwwl0ffin11 ¥(bvhlB¥. Go¥•mm¥fftwants GDvqttyntgrants ar8 row9nd atth@fa¥4 a8&et reCdvkn OnthIS San319 as$uranceththg granl &IlIty8 mgt4ae grants11 te rn¥9d. Agranl tsl speCS pgrfoimarKe condiuonsls wi59d hi Income when the PerfornCe ¢dn?nS meL Where a 9Fant dogsnot SPgcWy pèrformèrte Mndition9 rt rwnlaad in rettived ( rt¢eiv8b. Agmnt rettwed oefort thÈretWhitiQrt s&tsfiqd is tsbility.
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THE CHRISTiAJ4 TRUST ILIMITED BY GUARAWTEE) N¢)t& ioth• flwl31 tat•mts Ic•ntlnud> Fwth•s•rthd•d 31 D•c•mb•r 2020 IS Frnoho Fr hirb Tgtsl ed#t Dtvluath>Tr 1 Jqnuary2020 6.B1fj,95J 125,1881 7.8L17 l.W9. Tl,657 7.897.87T 12S,1881 12.8 AddSkn5 1,188 138.3381 Transfw5 Al 31 Oxernber2020 793.291 973.917 74.S57 7.tr41.È65 At l January 2020 ChÈrg8 toi th sposals 1.344,681 122.540 725,865 46.109 136,33BI 68,688 6.057 12251 2.129214 175.306 131 Oecamber2020 1.465.689 736.036 2.25$.445 Mrfty>tyk1l At31 DKtmbar202Q 5JZ7,MZ 2371 537 5,$7442 Al 31 Oecernber2019 5.472.2W2 213.402 12.769 5.768.463 Fr4•MhJ wop•Ftytoth•valu• of£4,844.n912019.' £4.982.1> aèSOCUrtyowrmB bank I8 dBtaifod In nol821 St4•Mts. Th? vAbJèol as6a& hèld Ur[ne¥ orr&purth030 IrKJLthd Atth•. arn41 follty¥$." 2021 19 fjroyp Pè)rvehid•s 10260 Thè propetyaipierreponivrti ffjVbed In 1997 byqualthed SuTreyort. Sovllb InterTran•F PropertyConJuirants. &tcumntopBn matket ¥a1u8&tt2.75D0O. whh k¥eVI$ been Incorp(th intothe fin8n¢IStrtemeht$. The ¢ompanyiS iakinyAdvant&ge tsf Me llrrJns8mgrt¥ ol FRS 102 IrOre th&prop& has not oWnn019 dirgdors thgrfj•ua1wJlu9vFth9trgw ryop9rt85 greinexcess of theii netbjok Yoluè. Tbl1 co&t(rfthe PhnpMtWQPWty19 £2.514,123 12019.. £2.514.1231. 8cujnulalj hLRrtGeo&t&£64S,51112019 E595.2291 32
TH5 ¢HR18TLAN TRUST (UhlTED BY GUARANTEEI Noto$ toth•flnanclal slqm•nts IconUnu•dl For thvyw•ndod 31 P•¢•mbw 2020 IS Tanglba••41• Fr••hol nd•n¢l pvvpg Fi¥lur• At 1 January2020 Adibons S,391. 961257 63.145 16.wl 138.3381 1gx>} At31 Decomber2020 5.38&029 924,819 66.145 6.376.Ce3 2,635,029 2,750.iKKI 924.919 06.145 3,6.093 2,750.000 vu8t 5.385,029 924.919 ee.145 8.376m3 At 1 January2020 Charge fcrf tho DWsai$ Trnnsfer6 1.t47.$34 101.702 88T.599 41.837 136.3381 50.3T6 fj.057 12251 1,885.scva 149.sg6 138.1411 A131 DeLv2020 1247.658 693.Q98 ¥.2Q8 1.998.964 N•1 boDkval At31 D8¢•mDFr2D20 4137.37t 231,121 9.937 4.m.129 Atjl DorOthr19 4.244.075 273.fj$8 12.leg ¢.W.502 Fr•ghDld pr¢F4tytrilh• Yua 01£4.137.371 12019." E4244.0751 ishektJs wcunty over1 ban¥ rth• 21 to th•financiai nbtl¢k vaiu•ofax hahj Ldtnarth whir9 GrntrKta, aboY& 8tE tolws.. 2020 2D19 Ch• Flthr•J. fftUr¥as•nd 4¥•rt CO22 10.280 The woporty ÈtHt•wntwws In 1997 tyquèlifithl yutveyorB, SsvdLs kntcm8bwl Property C(m$ulknts. 81 curniiopen m&%•1 valu at £2.7.00Tr, has pr•vknugly I tho an¢1 gt•Wrnts. Th• L¥knPV 18 tsking of trJr4ibDnal airnrvJeMrts ot FRS 102 therefoTe the valuatw has Mtb¢en updat. kn thèwnth olthodireckys th94jaIv81u?0lt f[Etho wopwrios aro m &A¢ÈS$ of thwrrnl trJokv&uè. Tr hiattiital catof Plèrreport rwityi8 t2.S14.1231•119'. £2,514.1231. jIaled deprtion h1tcColLg£64$.51)l20I9.. e5952291. 33
THE CHRJSTIAN TRUST IUVJTED BY GUAPANTEEI Motos tolh• flnartlal star•T•n¢s l¢¢ntlnuodl F•rth• har&nd•d 31 o¢Cr 1020 16 wty•rty Fr•oho Tot1 2D2Q QWDMP 202 At l J8nuary2020 Z50.WO 25•.Q At31 Dxerror20ZO 24OC¥) 250 knYOSbTrtopOBs aroshty alfwi valug3nttar•al in UK. In opiniuni4th9 thQfalrvaQfth prwBrbgG al 310gcerthr2020 * not wtgnalty drfl•rèntfrom th•¢ost. Shorn• In group Loan•to group Undvrtakin45 Tgl Chothy AI I JAnuory2020 IA.$07 16.617 195.019 l.Q91.92e ie.617 I4.5) 14.865} At 31 Decérnb?r20 1.512.524 191.154 1,703.678 IMprm• Al 1 Jwuary2020 Charg8 tor 845.133 51.430 896,563 At 31 OK8mber 2020 845.1&3 51.430 89&.563 At 31 DÈ(ombÈr 2020 067,3 131.724 $07,115 At31 December 2D19 650.7T4 144.589 795.363 The li towriig tyirhvfj¥irn8nts ID C+119r Estatsl Limited aThY SMTign.W¢rld Limtsd. The wbwdFaryc4mpanios terestfr IOWswW¢h arenw#curBd. •id we ded as dema. DÈtrAbrfU ts)mpAn¢9 sharnsln UKgroup undth1thng&arfrinthdÈd lThnote 34 to theflnanc5sthMthts.
TH& CHRISTIAN TRUST ILIMITED BY GUARTEEl Nole to thefinanel&l Alatsm•rto Iconlln Forth4 y•ar•nd•d 31 Do¢bor202o 16 8ioek Grotsp 31 Doc•mb•r 2V20 Ch•rfty 31 DcmbRr 31 D8rfjthr 2019 31 Dèc¢w& 2019 Flnhe goods and 5v)ds rorrtte 71,420 n232 5,105 71A20 72232 4685 19 D•bto Group 31 DlbIr 20 Chwlty 31 Ooc•mb 20 31 DthbEr 2019 31 Dec9rnber 20T9 Trddè thbto Tax recoverablo ouiordebtor6 pr9tts ond arcvjed Incomè 443¥ 8.886 109,728 234.M1 18.fpaD 11.391 129.716 107,471 29.•65 2.160 IC4.189 233,808 127M70 I.12? 264.668 3n 246.743 20 Cr•dltws'. lnkiunts 119 )no ymr GroLV Jl O#¢qmb•r 2Q211 31 Dgcthir 2019 JI O•c4Thb•r 2020 31 DEcemb J19 Bank loans and o¥erdrlA Loang fvcffj5uppthrs ptht llbgabgn¥ und•r t¢&0$ Pirg purthqae Trade cr•diknlS Amunts Ov uThdertakings Othèrtwtyon >id wdAI sr OtherCltCrf$ 120,932 2&500 J225 34.977 119.SOI 28.QOQ 2M23 92217 08.38T 11.000 3221 78.936 1102r2 9.677 31.732 207.582 12,97ty 44B76 2W70 15.044 37.J77 257.239 8,970 36,929 1691 449.950 552201 1$9.4
ThE CHRISTL4N TRUST IUMITED BY auJw4TEEI Nol•% to tho flnanclal Atatsm•nts Iconiinu•dl Fwth• y••r •nd•d 31 O•¢•mb•r202 21 ¢r¢thor•: duB all•rrnor¢ th0•r Group 31 D•¢•mb•r 2020 Ch•rKy Jl D•¢•mts•r 2Q20 31 31 DK•mt4r a)19 2019 eank LOar0frn suPrterS N•t¢bhgw urrfjvhirt 3,022.535 24.974 6.55Z 2,547,409 24.974 6.952 24.974 5,795 24974 9,795 1145A73 3.Q54A81 2.IM897 2.579.335 1Ude4rrvJusnl1bJlY payaewhh 5 ara$ kn.. Group 31 p¢wth•r 2020 Chorty 31 tY8c•mber 2Q19 31 Oece 2019 Rep•yaWe bylnaknenty 1.B80.124 1,932.034 1WO.124 1.932.034 JI creditors dk than 5 54arA r•b) hèh1 in Th Cnttstsn TftkihndG klhnr bmrtwl. ObllgabJnB underfinw¢e lèaBe3 and rAtra¢Ll. above. è(e payabieas fel. Group 31 D•ceffd)or 2020 Ch•r 31 00Mber 31 Oecember )19 31 Deber 2019 BeiY4ew one fNeyears &795 Th8 group bank lo £3.188.389 12U19.' £3.112.6531 b•nk wotdrgfts £5,355 IZ019.' £29M831 aro SOGured by ?1 mortgagos ¢hwgo5 over Ihg freehohy propwbes and Invesbmqm propwDas gmU bqnkots. Thg valug 01 th980 wcyerdeg TrKurrtg E4.844.779 (2019.. £4.962.9211. T ropr•wit $3.8%12019'. 63.3%)tt OfthègP.E PYOPètyÈ•GThll bsnk knani. ThBthèritaLIBtsnWnYk k)Bns a[n[Xllto.7O2AI7(20l9.. t2.615,7981 arB yeCUT by rnorlgayey and Qrthfrfth tYQPgrbg5 yKrtl kn¥•strlntPT¢th¥ (xynp•nV$ty•Thk¢rn. Th¢v¥u¢ ¢+Ulty$¢ t4.137.371 12019.. t4.Z44.0751.Th• bk bJns 12019." 61.5%) of the vu90fwhg (NbIg (xJrnpgns property 59¢urgd by8 bank 9$. Grwp bank loJn¥amcdJnOw lots,229.88912019. £3.112.8531and ¢harltrabfe Mmpany bankloans amounlry E2.702.417 (2Q1>. £2.$15.796}ar•Apayabh) by InMen1$tth an iiteiestrab b8iween 2% Ènd 225% 2bOv&bBse rète. Grou Ji D•¢wTrb•r 2020 ¢h•rfty 31 O•wmbg1 2020 31 Dec•rrw 2019 31 Dember 2019 inEfxneb[OhtI0[wa Rdeasod ID In thB 17&651 1178.6681 11£.335 141.$93 {141.$931 178. 157JBY 1157,31n 89.4D7 119.355 1119.3851 157.387 110,335 178.Q8 88.4VT 157J87 36
THE CHRISTNN TRUST IUMITEO 8Y GUARANTEEI Noi¢•to the fiTr4n¢l•l (c114•d) Forthe yearqn(Ivd 31 Oecembar 2020 23 Mlnorltylnterwts EquNy Al l Januuty2020 Movwn8ntdurfng thèye¥ A131 Dec•mbw20 127.010 110.393 The mlmrtty Intw•strdas lolhè 74S%12019..88.3%lofshTh in TCTPryrtes No1 which Mdbylhli¢J part$. T CNl$Dan Trust8 ¢Mtrcd ofl ccmpany a5 detred Doto 34 knthe fanCIal alit8ts. Z4 alatrfflqni¢)ffv CarFd Forwllrd 31 DK•rnber 2020 (L1•#} l Janu8ry 2020 IveStrdIj$ RwgrY95 2,714AT1 1549.779 12221,3ni 3.011,¥89 Head Gr Pknpont tslyndl8y Manc S¢otLwo $5.7QS 9.fj69 ,033 11,549 46,481 56.774 62.871 TA12 140,9221 77.fj51 B.183 41,970 10.137 1217Z61 {5,827) It949} 4J15 5&T14 233.•J2 .022 239.951 Totelo1fv 2.948.503 2,6347111 12.3D1,3•41 125A19 3.25eAIO The uAretrktsl Iwd Inrcrpwat•s r96wy9ontrfrnaho w(¥erty ot lierr•w¢ Svfftyd£430.23612019'.£441.8731. •1& Fr•SId8precwr$IffiIhe propetyand Che a¢ardIrclal on tho f•valu8d arntyJnl bw trantry frtsm thEr•valualM to kn•yernl ur(•S1fiJ1d9. 1) Gurrentyearthis oUred kn E11.62912019.'£11.6291. Rsetd fund&c(rytsg &rge numb•r¢flunds ana by1Won Jnd type es r•[YenIconth>& fortr purpos99 oIwop0ty•lld Otiw fixBd assqt Intornan4l ¢ts and othei of•xwndbJre. Transthol£NIl 19.. £5,T911 ite b r•siiKtad donallons reb}B$ to urtrestrlctsd fvndy. Transfers o1£N12019." É5.7911 r9lalotorèstrt¢d (knafyons rn1&¢d tr>Unres1F iUdINax a&wlpurthagAS provkY Urnlrfcbj LI5 ofez&.31912019.' £46.th)I rtg tolorew]n•xcharwJe IDs¥q¥on th• rntran¥Lqbon ofth•n•tassotsLrf4 IoNi9n llVIltO as at shqet Tran•l•fv rrl•d Frd l Januory IQ19 lncarno E¥wdftyr• J1 DBcarnbor ftosarvos 2,745NTS 2.W9.é 12.M6OSJ {4&880 2,71&471 R•strki•d fw ad offie• EW Cran9 ptgrreponi GlfftldyMr nd Northem $0,$74 IQ609 11,085 24221 11,479 I7$2? PO.J4n 56.71 9,Wttr SJ,033 11,349 6,491 56.774 1102141 9.303 (27.3921 113,549 1247) 17.810 1511 $7,021 231,SllJ 9033 7,720 15,n1 231032 Tc•al offund 197fj,984 17M,723 12.696,*5 148AèOI 2,941,SQJ 37
THE CHRISTWI TRUST ILIMITED BY GUWiApifEEI N•i•w th• fln•nclal fmBnts l¢ontlnuod) For tho yvar•ndgd 3104¢wDbwr 2020 25 •ts•ts tyltswi rtcmrrt asa•tsl• Ilroup kntswklo Ilx•d lrkv•4tryt propèrfy Ttsi 31 Docornb9r2Q20 Rgstrtw IL5 239.951 P,714,19S} 239.•$1 3,121,gSZ 27.727 SJ7SA20 T¢iai 17.¥27 S,5752 250,OOQ IW4J441 &3M,9•3 Chvtty 6rybhfrx•d Al 31 DeuThber2020 Re5knctedfunds Unresblthd (unds Z39,951 I2.2.85 239,951 2.,30? 4,3712• 807.115 Totsl 4,JD,129 8QT.115 IIVZQ.9Q$l l•tcrr•Tht av4•1s k6S ¢r•u Inv•skn•iit prop•rty ass•ts T•r41bkTrt Tptsl At 31 DOromr2019 Rostrfcigd fvnds UtYgsltyddÈ 233.032 {3.208.8J41 23&032 2.842A81 32W2 S,788.483 250.0 32,852 5.708.46J 250,0 3.Q75513 N•t pJrNbii 4•5•ts lknbUlll•& Char In¥•tM•r Toil At31 Dfjc9mW2019 Rosirktedknds Unr&thLtsd ¢unds 233.032 12.79&T181 4A30.5 795,363 2,527.1 Totsl 4530.W2 795.363 (2.$8&6881 1760.178
THFCHRISTI4N TRUST (LIMITED BY GUARANTeEI Nf•¥ trj the fin•nGtal ¥tat•fflqnkn le1iniind For th•>T•rendqd 31 Da¢•r 20Z 26 of mov•Mr1 lThfvrtdÈttsMI cwhflo¥vfrun op•ttlng acu 2019 Noriwhefryr[&5 pe[3temtofftn?ndal ÉCtivij 18.398 ju$imwtf¢r. 1756 5.125 5.443 810 1134.2121 11012571 675 85,414 knIottsalon Charp L0$9 ts) Iho s offlxed xsots De¢Se 9kS Dse thder lkncwse1ee1s@ kn ¢redP Taxationeh8 Intereslpty Inrestre¢eiv&l8 214.018 14$4 120Z2661 6S.$38 N•ttaFh prgwthdtyop•Ytity 371,438 27 otcthonges knnrtthbt.Iroup 31 D¥e•Mty•r 2ty 1 Jnuary 2020 CAAh Calh atrbgrth In hand ovwdrafi5 283,961 346,918 24,038 370,955 15.3551 635.524 264.5fj8 èx¢WwovgTdrats {115.138} 13.28Q.7551 Tolai P,101.Q491 255.B18 1104$2311 The Gbarfiabk eoryllny W eTr an unfinlt•d warartow wmh Natwest Bank pk In favwr of Gbjndkny MAn¢r EstatyG Lknllgd. 5heetdatt maxvnun Wats1 mAE491.720{2Ol>. £526.2401. 2& P•Mfjon ¢ommhntnts group rnakt5 tywtJln Indu¥Per$0r1pqfis schBrnes. Th•aÈg#tsoflhe Bth9meèarehujn t•Foratstyadmin¢tertd full. co charge i8prngentsconthbuty)MpaY4blebytt graup arnounted b£l5.081 12019. £14.38SI. Ctrut$ of £3,205 Woreoutst• altre ye¥ÈtsJ.
THE CHRISTIAN TRUST ILiwfÈD B Y GUARANTEE) Not•s to the flnanclal statVmoth¥1¢ortlihu•d Forth•yMrentlfjd 31 D•¢br 2020 Oporattng kn40• cornmitmw Thg c4thÈgroup's luwre rniYnurn P8ymwts Larand111n95 )1 Dec•mr 2020 31 D•¢•mhv 31 Decan 2•20 2019 2VI9 Within 1 ye4r B91wogn 1 and Spr¥ *r5y•Af5 8.400 37.40 34,ty5 43,391 6.400 171.699 Land Ind JI D+bIr 2QZO 31 Decembgr 2019 31 DNtVr J)19 Wikn 1 year Bdiwryen 1 and gr5r$ 8,400 8.400 43391 Total 8,400 71 111,699
ThE CHRISTLAII TRUST ILthIED OY GLIAKAP4TeE) Not•s ¢0 Ihflnhrlal itat•monts Icontlnu¢dl Forth•yqar Bndgd 31 Dgcwnb4f 2020 31 Tvitw' b•Mllb'. •d¥•n¢K¢rooW•nd iuarant th?rts rrHde inre¥llr•a ad¥arKe5 aonyt0 £7,2rN)12019.E7200)trJMrP J to cowereyDSOB Incurrwj hiswtyfty ihg •muntsd to£8.829{2019. £8.787I.Attt bailnce shgetdate thegroup e4,514 b)12019'. waè Dwqttt3.a25 by) Mr P J Horrobln. AJTay¢. a trustr. roc•j1Unrt of£31.897{201. E31.$991 •ndtr•wup mwjo penn0ti cI£770{2Q19." C7(Lllin rE¥PKtolhi%dules u An tr R Po(& a tr. ieceivwj remnorotbnof£12.W)1201.£YZOOOI In mp8¢tofhBdub85 asaTheryloyoe. OuM9 ioE23.05712019".£20,4251w• papa to 3P01tr. $1 In reljtron I0rro•S tru5teE8fryfvul4 Su%n¢•. DurtrvJ the £NII12015.'E250Iwa5p 10 woporty ML4. Dn9 th9 warth•gtow book ybe5 K¥Jnthry to£8.028 {IQ19' £7,5C61 i&è¢hlt¥ toUntyng to£2,8<2015.. e11,3341fromtho pentty. In the group maoe puf¢na•s fr arno to ti.018 (2019." £1.W918ndpaldcansules arnoUt0 £e.ON12019". £6MOOI.Atth• b2Lincè shtdtthègr ¢J¥ ,?14 IkYJ19.' £3841 tOtrust88sof Pt(anty. Dur&w ththe pAr•ntehthty donaUwffjol£NII12019. EI.830}ffom th•truiiM8. Ouring tha al the wp Chyd tW$arnounww to £25612019". É15fj1 1OeBamouthng to£tii12019'. £2.3481 frthm lamity ma@1801 gths. 1) grOUP paidexpgnse5 arnounfjrpj to El.21812019 £4.875itOfa1I mon•.Atv bHlwGpGheet datethegroup0w£NII IZ019' £Nillto Nooih8F Lt@S rnneratlc dunwth• eutrènt(rwi9rpa. tYarth&gr¢wp 5alarF95 amounlw toE68.5S812019."£6f.1681 rolabi paititrs. Th2 cthantyrg a139 ofthg gxgmpkn kn Flnanry41 RGpornJn9 StgnJ 102ftomthèwuir•r•thty thsdose tran8ttcltrN•ith on the nds 1kn•ndaltaiemthitsar•w£p tyth8 paremcornpany. lthè ba&nc8 sh88td•leth•thty wa$owoo by Its sUlsshfjry corn.. Swgreigfywortd Lmd.. E35,395 I1$.. £25,) nBtofa rf£51.43012019.É51.4301', Mediwranean Tours LwThted. £4.19)12019. £4.19JI.' TCT No.1 Lirnid..E105.(W 12Q19' £105MWI. the 5he dato the chartyowed to tswb5hYk7ry compani.. 04er6èas TfttstknmitÈd_ EfOO12019. t1001.' MwrE¥tyt•¥ Limrtod. £42.48612019'.£113.6721. Mini5rri05 ni1d.. £Nil12019.' £NIII, 33 ContrdrpLy memra of Chrisliun Twsth¥ve overthecc*npanyin thg¢vrrertaThJ prfcrpd.Th@rv i¥ rou1utO<0mrnlltrffj p#rtylngthqrihe uJrentu prevM)u$ 41
THE CHRISTIAN TRUST ILIMITED BY QUARANTÈEI 14otesto tho financlal •latoments l¢ortUnu•d) For th• yoar•ndÈd 31 D•c•mb•r 2020 34 Subghlllry und•ng$ Tsusl1udartakin9I asfokn¥s. Comp nuThb•r Gkyrdoy Esbtss EW MiniSMLlrniied $overelgD.Workl lolmhii5tr18sFgryft 020164 02353217 FcertyrrAn•Jerrwt wrnpany IDorm8nll Publsh8TS of ChrL%Van England England England Hun9ary 1QO 140 100 100 100 100 07121353 06914914 07992388 kniermEthahDig It)0rn1> FaBilblurofoverseas touts Im olinvesbDeM WLyerty Jit•nJrw Ljrnited TCTPropth No. 1 rnid EWwJnd Th•perCge 8haroholdir4 is ofo1nary shar•B of £1 and Fepr8unlstr8 k¥tyorth)i of ncfflirhJl ¥Je ld Jndlho proporn of ihe votry roprosgnte 8h?rè$ othr than GI&8Y Msntsr Estqt48 Lin1d lftwilch me Saarè ¢apitsi & diyided Ordlnaty A ¥h&a Trdin8ry B $harè& ThB $hafecaWI of TCT PKperua5 No. 1 LwrJl8d 154iyidgd Into l)rdifiaryshar98 Athdlnary sharB¥ of ei.ODO qarh. sbare has rnany addli Yoa a$ requir9d ts dqtg c¢ pas$ 8 The Chrisisan Trusi ho the only Ordinwy shale ityje. On thls it is deemed ClsaTr TNsi has control Ner TCT Properbes No. 1 rnIW Lts olTCTProp8rb85 No. 1 Linmtod h bB8n Illd@d in the rOnS(did8bJ financ1 5t&trJmBntS. MlIerraneAnT(djr$LrtOy IsathDllyownad sub51dkiry of }ga5 EdwxUonTw51Llrtgd. li Dflh• &tO$. Th•Chrf5wan TFustha& tra¥8[all01thsubSL9ry Or13k as th. In yews the trustees h•ve licen$4 agreement ts8& Th& Cmsfjai Tnjst nuner of foreiw Lyer#. In addin eertQkl OF thè ¢Ir¢¢lW4 The Chris1i8n Tnt are aL8Ddirectors of kn2se OVEtY&s c<JInles. kn tt ownifffi of the trtee$. ¢hr¥tipn TN¥ldue& nolhgve effth fDntrol ofthE foTr oporalonsand tsrgfcn*e4• Compani aT• gxdudgdfrryn anOI
CHRISTL4N TRUST IUMITED BY GuARlTEEl Not•s to Ihg fiMn(ial statthnents Icontlnued) FOrtylnded 31 DK•mbwr 2020 8uhhlkryundgrtahlno% leonUnw•d) AY41e tr&dIn94Ub$1a$ rosufrQYear9d 31 O¢¢wbot2020arA 8¥4131 DthMbar2020are4lven bdw.. Hungary Kll T11 UthNod (tsrnlJ md TwrKwer EKpgnLItyM• 50.126 150.722) 51.021 146.8321 PtDffV(kn85}fur• pard {5 4,189 FL¥ed assets 392.700 4,021 S.106 111.M21 Curittitlièbilth¥ Lon9 t•nn liabE9 394.6 15.31 Elknl Mlthlltrbs Umtt•d Styndhy M•norE8tai• Lirnit•d So¥•Wn. Worfd Urnilwl TU Prop•fUea No.1 Umtt•d 120.897 1189.353) 120,877 gndrtwe ProfftJ(knsslfWfj 09rkxJ {48.4561 I20.8) a55ets Cwrenl asseis ¢wr¢nt Lon9 Iiat4lO68 803,593 50.599 183.0441 1462.B971 250.IXh) IOOJ97 {i0s.rthi 149ffj601 Agryegwe$hvwil* aid r•s•N 3D8.151 150,3311 145.OUO
THE CHRISTLAN TRUST ILIWTeo BY GUANTEE} Not•s to th•fin•nEl418tatqmM¥ l¢•nllnwdl Fortheyearend•d 31 DgrArnb•r 2020 35 Fknan¢I rt•km•Tr4g•m•ht •d M[•• Thè9fftsup holdtsori88uèg flnart¢W IngtrtWlS rThwthyrtoach•v•lhioe obJ"octivoN bwty: 181 itsfthnc•lts OPOrntbJng', Ibl 10 manag• Its oxpcsuro W trSta7d Irn ltsyr•lkn¥ wOtrlIS Of0..n (c}foi tradin9 pufFW•S. In addttk)n, 89r(W hasy4thxM(thrfldI Iilltmlleg auth a9 trpAlpdÈbtOryJAfvJ tradeualUS8WnP dire¢tyfmm the wup'scyeraucns. Trnb nslNrn¢nts Onpa$&Inin9riSrnkn4 anoIrpaOntrornTrJM olthèfinoncial riskn deAcnbed Wcw. Thg woup éwsad to lakvtho Inlornstrate sk on il& fixed rdie Lvxrthng5 ca5hfknwinteTrslraleAsk an bank ovethnsaNJ ioar. hveSbrth o1c46htsuIUtsW and bOrmrare&1Q rough conynigsvJW rtrtrytru11vrtratsryj approv tyth• Wrd. I 8MerI who to on cndil 4re wbiert to rmtht vcrfrthyn Tr¥dv thblryB on g wygulllr b&8r6 and 19 mBde thublhldebis en nÈc$6ary. srow [n9¥S It8¢3sh barrowkng In LK&rttsmdxw1$e intere9t irthlle and minimi82 AIeYpen>, Vthllsi sung the suffoefflt liwd L¥Jr¢e$to rneeiihe opefakng need5 busines¥. ¢urr•nryrlsk Thègroup ykstO Irw0 wd be i¥ciced 10 i5pf•iwal trjdiry rJJrrqrysvtrorevcr pos3iWc3ptQrnbiTh1x ts¢y4x>wfE to movÈmÈnts. JI E¥•Thts aft•fthi During arndLirlj sincYth&yew e. the sprpad olCOVID-19ha$ $wèr8tyimpac4od many &th)n¢thths around th• gbo and Incowrfnon wNh many other UK the grow tharityr@Id C49as8operakn%ts pt al th8 y8ar Th8 groupa(Ed thaTityop8r&i&in 50clorswhere mEaSuies tskeD based upon G0vEMlad¥Ice b CDn1 Ihe spTEad Glts irKluthnA trayelbatss, waranbnes. and 60oal r th•toperatw)nscQnl1llue to ¥Hxtgd inlothB fijtyre untiiiw rKtrckns Jre I00.The9rp chartyh2Y8 coBts 2nd tsk thJvankgeol8valablp tjdinggfalts. furfoughs and rtgag bcqJoys w mnap ih?h•icwlirnpxtole pandgTh¢. R•swn$o* thi¥ion•pW$havp 9¢ ¥ub$tsnlW, $Wg recèiptoflegadès thathavQ 9UP0d tho gFoJpand Chty Iwgh ts downwrn nre¢ b¢kdown. Th?gmup and¢horty hovedetstmined th&tthese eventsArÈ non.ub $ubgequeni en1$.A¢1rdIty, and rosuitsofoperntow a0ff0r theperiod ènded 31 DKernb¥20a) h8v•wtbegn atystgdto tsir ImL
THE CHRISTIAN TRUST IMrrED BY GLIARANTEEI Par•nt d8tall•d Incom8 and •xpvnd5turo 4¢¢rt Forth• J••r•I•d 31 Dgc•mbor 2020 2•2• X)19 Chllwllbh•#M Torm crEe5 2XMts2 144,158 4t2.925 679,092 1.142M17 RouukarOon•tn$ Olrir & avra1 DOn•tn$ 4)po81 Otsialon$ GfftAhl Dn Don8Uo R•strlctAd Dcfisuon 263.123 399.528 95.839 105,289 J•?A51 144.126 130.284 85,071 500.000 154,817 1,101.629 olrIdIng I¥111•4 10M35 &7,$21 Ovse¥$ fi$ Jndry 77,PAkT 57,325 1TT,11Z 102.190 2D1h54 Oth•r kncomv: rd•l•d 2W.115 Totolln¢orn• 2M4028 2,420,759 L•••: chodty •Ap•nL¥tw• Staff Alowanw 8thJ Nl Stsff Ppnsws st4ff Costs 772.503 13.61S 11,600 22.700 69,072 45.451 214,806 93.586 248.809 14229 10A50 20A50 852 4¢97 163062 46,1 199 29,98 603 knÉurancEt Caltrnry H9ehdd & Ldry ctririty. & Water Prtrt Posta90 &Slgknary 37.744 tsrketing & Pubkity 40.591 24UJ 145,82 48,187 rso.Rètreats)d Ev Co8ty Chant Don)5 JtDr. TN¥daThJ 8thkgnc6 ItrtY and EwirrfMTrt Repai Olh&rCosts 151,152 270 98203 6,812 28,662 24,476 187,950 Profe&&bJMI Fea Depre(¥abon Fwen •xthllng• dffw•nc•s 15B3T2 2462• 72A4J 30,991 80.137 Bank b)tere Tolal Ch•rfty•xpBndtsY• 2,4W.034 N•tlTr¢¢m•frwn ¢hBrftsbk• •wrc•i 405.11• 20,725 N•tlrorn• forth• 4.16• 20.n8 Tho80 nEltonn pwtolth•Juditqd finThr 81otern•nts