2020-10-31-accounts

CHARITY REGISTRATION NUMBER: 1059112

HIS GRACE WORLD OUTREACH TRUST Unaudited Financial Statements 31 October 2020

HIS GRACE WORLD OUTREACH TRUST

Financial Statements

Year ended 31 October 2020

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	5
Statement of financial activities	6
Statement of financial position	7
Notes to the financial statements	8

Page 1

HIS GRACE WORLD OUTREACH TRUST

Trustees' Annual Report

Year ended 31 October 2020

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 October 2020.

Reference and administrative details

Registered charity name

HIS GRACE WORLD OUTREACH TRUST

Charity registration number 1059112

Principal office

The trustees

Rev. Paul Fadeyi Mr E A Onifade Rev Joe Nwokoye Mrs M O Adeyemi Ms Omowunmi Morohundiya Mrs Joyce Adejoke Fadeyi

Independent examiner Harry Koranteng FCCA,ACMA 5 Greenwich Quay Clarence Road London SE8 3EY

Structure, governance and management

Governing Document

The charity is governed by deed of trust dated 8 October 1996.It is registered as a charity with the Charity Commission on 14 November 2006.

Appointment of Trustees

A new trustee may be appointed by a resolution of the Trustees passed at a meeting of the Trustees at which there is a majority of the Trustees present and such resolution shall be recorded in the minutes and signed by the new Trustee and by the chairman of the meeting and such records shall be conclusive evidence of his appointment.

Trustee Induction and Training

New trustees undergo an orientation day to brief them on their legal obligations under charity law,the committee and decision processes and the recent financial performance of the charity.Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their duties.

Organisation

The board of trustees consisting of 6 members, who meet half yearly, administer the charity. There are sub-committees covering spiritual development,membership and welfare,finance and administration.The finance and administration sub-committee is charged with the management of the day to day operations of the charity

Page 2

HIS GRACE WORLD OUTREACH TRUST

Trustees' Annual Report (continued)

Year ended 31 October 2020

Objectives and activities

The main objects of the charity is to advance the Christian faith in London and in such other parts of the United Kingdom or the world as the trustees may from time to think fit.

In planning our activities for the year we kept in mind the Charity Commission's guidance on public benefit. The focus of our activities continued to be that of worshiping God and furtherance of the gospel of our Lord Jesus Christ and the general advancement of the Christian faith. This benefits the general public through relieving people who are in conditions of need or hardship or who are aged or sick and to advance education in accordance with Christian principles in London and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit and also to promote and fulfil such other charitable purposes beneficial to the community in London and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.

Page 3

HIS GRACE WORLD OUTREACH TRUST

Trustees' Annual Report (continued)

Year ended 31 October 2020

Achievements and performance

The accounting year ending 2020 was an unusual year with positive and some challenging experiences in the midst of the pandemic. All hands were on deck to adapt and make necessary changes in order to keep the organisation going in line with the main objective of the charity: to advance the Christian faith in London and beyond.

For most part of the year, there was a reduced number of members allowed to come into the church building in compliance with the COVID-19 regulations. As a result meetings and communication with church members and other people in the community was through the social media platforms. Interestingly, there was a sharp increase in the number of people logging online for our Bible study and Sunday services. The feedback we received during the meetings showed that people were greatly impacted through the ministrations and the teaching of the word.

In addition, it is also worth mentioning the steadfast financial support we received from all our faithful members despite the pandemic. This went a long way to help us meet all our monthly financial obligations at all levels. There was no cause to furlough any of our staff. We’re very grateful for such a level dedication and commitment by all our members, friend and partners for all the financial support we received.

Despite the challenges and the restrictions during the pandemic, we were able to maintain our usual strong emphasis on the teaching of God’s word through our YouTube channel during our Friday Bible study and Worship service on Sunday. Targeted efforts were also made to reach out to our Young adults, Youth and children via the Zoom. All the efforts put in by the volunteer teachers are highly appreciated.

The community services, the social networking forum for the Bereavement group that takes place every Thursday in the church reception hall was temporarily suspended. We hope to resume it in the near future. Apart from our mission donations, we also supported and donated gift items to the Virgin care hospital next to our church premises.

It is worth mentioning that during this accounting period, viewers continue to be blessed by our paid Christian messages of hope through our TV broadcast and YouTube channel on Friday and Sunday services which are streamed live.

Once again, the Trustees are very grateful for all the church members, friends and partners of the ministry who gave financial and moral support through their regular donations for the execution of our programs, mission work. May God bless and reward their generosity.

Page 4

HIS GRACE WORLD OUTREACH TRUST

Trustees' Annual Report (continued)

Year ended 31 October 2020

Financial review

Despite the Corona pandemic causing the suspension of face to face attendance to services for about half the period under review, total incoming resources increased slightly by 0.59% to £294,455 (2019 - £292,727). The principal funding sources continued to be tithes and offerings from members. Included in the total incoming resources is £33,123 (2019- £49,954).

The Total Outgoing resources however decreased by 8.87% to £264,171 (2019 - £289,893).

This thus resulted in a net incoming resources of £30,284 (2019 - £2,834).

Plans for future periods

Our future plans includes:

1. Continue to build on the success of 2020 with regards to the advancement of Christian faith through more social media coverage.

2. To resume with the renovation the church building externally and internally.

3. To Train and develop more Young Adults to take up leadership roles as part of our succession plan.

4. To Continue to explore more opportunities to present the good news of the gospel within and outside the UK.

The trustees' annual report was approved on 24 August 2021 and signed on behalf of the board of trustees by:

Mrs M O Adeyemi Trustee

Page 5

HIS GRACE WORLD OUTREACH TRUST

Independent Examiner's Report to the Trustees of HIS GRACE WORLD OUTREACH TRUST

Year ended 31 October 2020

I report to the trustees on my examination of the financial statements of HIS GRACE WORLD OUTREACH TRUST ('the charity') for the year ended 31 October 2020.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Harry Koranteng FCCA,ACMA

Independent Examiner

5 Greenwich Quay Clarence Road London SE8 3EY

Page 6

HIS GRACE WORLD OUTREACH TRUST

Statement of Financial Activities

Year ended 31 October 2020

		2020	2020	2019
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	261,151	261,151	242,696
Investment income	5	181	181	77
Other income	6	33,123	33,123	49,954
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Total income		294,455	294,455	292,727
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies	7	10,212	10,212	10,740
Expenditure on charitable activities	8,9	252,202	252,202	276,762
Other expenditure	10	1,757	1,757	2,391
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Total expenditure		264,171	264,171	289,893
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Net income and net movement in funds		30,284	30,284	2,834
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
Reconciliation of funds
Total funds brought forward		485,691	485,691	482,857
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Total funds carried forward		515,975	515,975	485,691
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 8 to 15 form part of these financial statements.

Page 7

HIS GRACE WORLD OUTREACH TRUST

Statement of Financial Position

31 October 2020

		2020	2019
	Note	£	£
Fixed assets
Tangible fixed assets	15	664,889	688,390
Current assets
Debtors	16	15,813	13,542
Cash at bank and in hand		40,853	7,682
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
		56,666	21,224
Creditors:amounts falling due within one year	17	17,000	14,366
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
Net current assets		39,666	6,858
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Total assets less current liabilities		704,555	695,248
Creditors:amounts falling due after more than one
year	18	(188,580)	(209,557)
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Net assets		515,975	485,691
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
Funds of the charity
Unrestricted funds		515,975	485,691
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Total charity funds	21	515,975	485,691
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶

These financial statements were approved by the board of trustees and authorised for issue on 24 August 2021, and are signed on behalf of the board by:

Mrs M O Adeyemi Trustee

The notes on pages 8 to 15 form part of these financial statements.

Page 8

HIS GRACE WORLD OUTREACH TRUST

Notes to the Financial Statements

Year ended 31 October 2020

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is The Place, 75 East Hill, Dartford, DA1 1RX.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements did not require management to make judgements, estimates and assumptions.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Page 9

HIS GRACE WORLD OUTREACH TRUST

Notes to the Financial Statements (continued)

Year ended 31 October 2020

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Rentals paid under operating leases are charged to the profit & loss account on straight line basis over the term of the lease.

Tangible assets

All fixed assets are initially recorded at cost.

Page 10

HIS GRACE WORLD OUTREACH TRUST

Notes to the Financial Statements (continued)

Year ended 31 October 2020

3. Accounting policies (continued)

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property - 2% straight line Fixtures and Fittings - 25% reducing balance Motor Vehicle - 25% reducing balance Equipment - 25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

Page 11

HIS GRACE WORLD OUTREACH TRUST

Notes to the Financial Statements (continued)

Year ended 31 October 2020

4. Donations and legacies

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2020	Funds	2019
		£	£	£	£
	Donations
	Donations - Tithes & Offerings	261,151	261,151	242,696	242,696
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
5.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2020	Funds	2019
		£	£	£	£
	Bank interest receivable type	181	181	77	77
		৶৶৶৶	৶৶৶৶	৶৶৶৶	৶৶৶৶
6.	Other income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2020	Funds	2019
		£	£	£	£
	Gain on disposal of tangible fixed
	assets held for charity's own use	–	–	6,061	6,061
	HMRC Charity Gift Aid	33,123	33,123	43,893	43,893
		ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
		33,123	33,123	49,954	49,954
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
7.	Costs of raising donations and legacies
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2020	Funds	2019
		£	£	£	£
	Costs of raising donations and legacies
	- Donations	10,212	10,212	10,740	10,740
		৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
8.	Expenditure on charitable activities	by fund type
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2020	Funds	2019
		£	£	£	£
	Repairs, Maintenance, Evangelism and
	Programs	16,042	16,042	18,869	18,869
	Telephone,Printing,Postage and
	Stationary	7,603	7,603	6,429	6,429
	Motor Vehicle Expenses,Leasing and
	Travel	8,487	8,487	10,839	10,839
	Pension, Hire of Equipment and
	Insurance	12,994	12,994	12,341	12,341
	Rates, Water, Light and Heat	9,012	9,012	9,535	9,535
	Student Loans ,Wages and Salaries	82,688	82,688	82,444	82,444
	Support costs	115,376	115,376	136,305	136,305
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
		252,202	252,202	276,762	276,762
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶

Page 12

HIS GRACE WORLD OUTREACH TRUST

Notes to the Financial Statements (continued)

Year ended 31 October 2020

9. Expenditure on charitable activities by activity type

		Activities
		undertaken		Total funds	Total fund
		directly	Support costs	2020	2019
		£	£	£	£
	Repairs, Maintenance, Evangelism and
	Programs	16,042	44,462	60,504	69,583
	Telephone,Printing,Postage and
	Stationary	7,603	–	7,603	6,429
	Motor Vehicle Expenses,Leasing and
	Travel	8,487	–	8,487	10,839
	Pension, Hire of Equipment and
	Insurance	12,994	–	12,994	12,341
	Rates, Water, Light and Heat	9,012	–	9,012	9,535
	Honorarium	–	2,346	2,346	3,250
	Youth and Children Ministry	–	800	800	5,274
	Television and Advertising	–	19,881	19,881	19,959
	Books and Tapes	–	132	132	154
	Student Loans ,Wages and Salaries	82,688	4,324	87,012	86,666
	Governance costs	–	43,431	43,431	52,732
		ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
		136,826	115,376	252,202	276,762
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
10.	Other expenditure
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2020	Funds	2019
		£	£	£	£
	Office expenses	1,757	1,757	2,391	2,391
		৶৶৶৶৶৶	৶৶৶৶৶৶	৶৶৶৶৶৶	৶৶৶৶৶৶
11.	Net income
	Net income is stated after charging/(crediting):
				2020	2019
				£	£
	Depreciation of tangible fixed assets			23,501	26,503
	Gains on disposal of tangible fixed assets			–	(6,061)
	Operating lease rentals			3,173	2,101
				৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
12.	Independent examination fees
				2020	2019
				£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements			3,000 ৶৶৶৶৶৶	3,000 ৶৶৶৶৶৶

Page 13

HIS GRACE WORLD OUTREACH TRUST

Notes to the Financial Statements (continued)

Year ended 31 October 2020

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2020	2019
	£	£
Wages and salaries	107,110	111,385
Social security costs	6,504	7,080
Employer contributions to pension plans	1,443	1,407
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
	115,057 ৶৶৶৶৶৶৶৶৶	119,872 ৶৶৶৶৶৶৶৶৶

The average head count of employees during the year was 3 (2019: 3). The average number of full-time equivalent employees during the year is analysed as follows:

		2020	2019
		No.	No.
Number of staff - type	1	3 ৶৶৶৶	3 ৶৶৶৶

No employee received employee benefits of more than £60,000 during the year (2019: Nil).

14. Trustee remuneration and expenses

Included in the wages and salaries was remuneration of £35101.56 paid to Rev Paul Fadeyi and £15,911.79 paid to Mrs Joyce Fadeyi respectively.

15. Tangible fixed assets

	Freehold	Fixtures and	Motor
	property	fittings	vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 November 2019 and
31 October 2020	724,859	25,027	81,552	165,463	996,901
	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
Depreciation
At 1 November 2019	72,486	24,829	49,561	161,635	308,511
Charge for the year	14,497	49	7,998	957	23,501
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
At 31 October 2020	86,983	24,878	57,559	162,592	332,012
	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
Carrying amount
At 31 October 2020	637,876	149	23,993	2,871	664,889
	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
At 31 October 2019	652,373	198	31,991	3,828	688,390
	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶

1. Debtors

Other debtors

2020	2019
£	£
15,813 ৶৶৶৶৶৶৶৶	13,542 ৶৶৶৶৶৶৶৶

Page 14

HIS GRACE WORLD OUTREACH TRUST

Notes to the Financial Statements (continued)

Year ended 31 October 2020

17. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	466	524
Accruals and deferred income	6,000	3,000
Social security and other taxes	1,792	1,983
Obligations under finance leases and hire purchase contracts	8,422	8,422
Barclaycard Merchant	–	116
Other creditors	320	321
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
	17,000	14,366
	৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶
Creditors: amounts falling due after more than one year
	2020	2019
	£	£
Bank loans and overdrafts	169,232	181,783
Obligations under finance leases and hire purchase contracts	19,348	27,774
	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
	188,580	209,557
	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶

1. Creditors: amounts falling due after more than one year

19. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

as follows:
	2020	2019
	£	£
Not later than 1 year	8,422	8,422
Later than 1 year and not later than 5 years	19,348	27,774
	ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄ
	27,770 ৶৶৶৶৶৶৶৶	36,196 ৶৶৶৶৶৶৶৶

20. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,443 (2019: £1,407).

21. Analysis of charitable funds

Unrestricted funds

		At				At
	1	November 2				31 October 2
		019	Income	Expenditure	Transfers	020
		£	£	£	£	£
General funds		485,691	294,455	(264,171)	–	515,975
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶	৶৶৶৶৶৶৶৶৶
		At				At
	1	November 2				31 October 20
		018	Income	Expenditure	Transfers	19
		£	£	£	£	£
General funds		243,513	292,727	(289,893)	239,344	485,691
		৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶

Page 15

HIS GRACE WORLD OUTREACH TRUST

Notes to the Financial Statements (continued)

Year ended 31 October 2020

21. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
	At				At
	1 November 2				31 October 2
	019	Income	Expenditure	Transfers	020
	£	£	£	£	£
Restricted Fund 1 - desc
in a/cs	–	–	–	–	–
	৶৶৶৶	৶৶৶৶	৶৶৶৶	৶৶৶৶	৶৶৶৶
	At				At
	1 November 2			31 October 20
	018	Income	Expenditure	Transfers	19
	£	£	£	£	£
Restricted Fund 1 - desc
in a/cs	239,344	–	–	(239,344)	–
	৶৶৶৶৶৶৶৶৶	৶৶৶৶	৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶
Analysis of net assets between funds
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2020
			£	£	£
Tangible fixed assets			–	664,889	664,889
Current assets			56,666	–	56,666
Creditors less than 1 year			(17,000)	–	(17,000)
Creditors greater than 1	year		–	(188,580)	(188,580)
			ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Net assets			39,666	476,309	515,975
			৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2019
			£	£	£
Tangible fixed assets			–	688,390	688,390
Current assets			21,224	–	21,224
Creditors less than 1 year			(14,366)	–	(14,366)
Creditors greater than 1	year		–	(209,557)	(209,557)
			ৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ	ৄৄৄৄৄৄৄৄৄ
Net assets			6,858	478,833	485,691
			৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶	৶৶৶৶৶৶৶৶৶

22. Analysis of net assets between funds

23. Related parties

There were no related party transactions other than that disclosed in Note 14.