**Charity number: 1061458**
## **THE OGLE CHRISTIAN TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
## **THE OGLE CHRISTIAN TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 18|
**THE OGLE CHRISTIAN TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Trustees**
R Goodenough, Chairman F J Putley, Secretary Rev Dr C D Harley
S Procter
Dr C Walker
P D Bigmore (appointed 12 June 2020)
## **Charity registered number**
1061458
## **Principal office**
43 Woolstone Road London SE23 2TR
## **Secretary**
F J Putley
## **Accountants**
Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
## **Bankers**
HSBC plc 55 High Street Steyning West Sussex BN44 3RE
## **Solicitors**
Wellers Tenison House Tweedy Road Bromley Kent BR1 3NF
Page 1
**THE OGLE CHRISTIAN TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
The Trustees present their annual report together with the financial statements of The Ogle Christian Trust for the year 1 January 2020 to 31 December 2020.
## **Objectives and activities**
## **a. Policies and objectives**
In setting objectives and planning for activities, trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public benefit guidance.
The trust deed allows for funds to be allocated to charitable purposes in any part of the world, but particularly for the advancement of the Christian faith and relief of poverty, hardship and distress. In practice, funds are mainly directed to new initiatives in evangelism world-wide, support of missionary enterprises, Bible student training, help to retired missionary workers and to famine and relief organisations. These objectives ensure that the trust meets the Charity Commission's public benefit criteria.
The activities of the trust are carried out almost exclusively by the trustees who willingly give their time and energy.
## **Achievements and performance**
## **a. Key performance indicators**
The trustees make investment decisions and review investment performance to ensure that there is income during each year to enable the charity to make a reasonable level of grants in the light of its financial resources.
The trustees also aim to maintain the administration costs of the trust at a proportionately low level, both in relation to income earned and compared to grants made. The administration and governance costs of the trust for 2020 amounted to £4,213 which is 4.8% of income (2019 - 4.4%) and 2.4% of overall grant expenditure (2019 - the same), both of which are considered to be satisfactory.
## **b. Review of activities**
The trustees have sought to generate a reasonable level of income commensurate with protecting the real capital value of the trust's investments.
Income during the year amounted to £87,853 (2019 - £102,563). Grants totalling £173,600 (2019 - £193,100) were made to 52 (2019 - 59) beneficiaries during the year. There was a transfer of £95,000 from the capital fund to the income fund during the year (2019 - £90,000). The investment portfolio valuation at the balance sheet date was £2.24m (2019 - £2.31m).
## **c. Investment policy and performance**
Income from investments during the year amounted to £77,093 (2019 - £92,999). The sales proceeds of £95,000 were not reinvested.
Page 2
**THE OGLE CHRISTIAN TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Financial review**
## **a. Reserves policy**
Both the capital fund and the accumulated income and expenditure fund are unrestricted and, as it is the general policy of the trustees to retain capital, the capital fund is to that extent designated. The trustees do, however, have the authority to distribute the trust's capital fund. It is also the policy of the trustees to distribute the whole of the income on a cumulative basis.
As a result of the spread of the Covid-19 virus there was a significant negative impact on the Trust’s reserves arising out of the reduction in value of the financial investments compared to the value at 31 December 2019. To the extent that that reduction in value is not recovered, there will be an impact on the level of grants that the Trust will be able to make in the future.
## **Structure, governance and management**
## **a. Constitution**
The Ogle Christian Trust was created by a Deed of Trust on 15 September 1996 and was registered with the Charity Commission (Registration Number: 1061458) on 20 March 1997.
## **b. Methods of appointment or election of Trustees**
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed. The trustees may appoint additional trustees subject to such new trustees endorsing the statement of Faith referred to in the Schedule and provided that the number of trustees shall not be less than four nor more than six.
## **c. Risk management**
The trustees have assessed the major risks to which the charity is exposed, in particular those related to its operations and finances, and are satisfied that systems and procedures are in place to mitigate the charity's exposure to those risks.
## **Plans for future periods**
The trust keeps under constant review a wide range of Christian activities within and beyond the appeals made to it. It is trust policy to make personal contact with recipient organisations wherever substantial payments are under consideration. Every effort is made to ensure funds are used for their designated purpose.
Since March 2020, the spread of COVID-19 has severely impacted many local economies around the globe. Measures taken to contain the spread of the virus, including quarantines, social distancing, and closures of nonessential services have triggered significant disruptions to businesses, resulting in an economic slowdown.
The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the duration or severity of the consequences, as well as their impact on the financial position and results of the charity for future periods.
Page 3
**THE OGLE CHRISTIAN TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **R Goodenough**
Date:
Page 4
**THE OGLE CHRISTIAN TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Independent examiner's report to the Trustees of The Ogle Christian Trust ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: Richard Hill FCA **Griffin Stone Moscrop & Co** Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Page 5
**THE OGLE CHRISTIAN TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Income from:**
Donations and legacies
Investments
2
Other income
3
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net expenditure before net gains on investments**
Net gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
**£**
**800**
**77,093**
**9,960**
**87,853**
**177,813**
**177,813**
**(89,960)**
**28,564**
**(61,396)**
**2,311,766**
**2,250,370**|**Total**
**funds**
**2020**
**£**
**800**
**77,093**
**9,960**
**87,853**
**177,813**
**177,813**
**(89,960)**
**28,564**
**(61,396)**
**2,311,766**
**2,250,370**|_Total_
_funds_
_2019_
_£_
_-_
_92,999_
_9,564_
_102,563_
_197,680_
_197,680_
_(95,117)_
_318,209_
_223,092_
_2,088,674_
_2,311,766_|
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 18 form part of these financial statements.
Page 6
## **THE OGLE CHRISTIAN TRUST**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|**Note**
**Fixed assets**
Investments
7
**Current assets**
Cash at bank and in hand
Creditors: amounts falling due within one
year
8
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
9
Unrestricted funds
9
**Total funds**|**11,866**
**11,866**
**(2,520)**|**2020**
**£**
**2,241,024**
**2,241,024**
**9,346**
**2,250,370**
**2,250,370**
**2,250,370**
**-**
**2,250,370**
**2,250,370**|_6,706_
_6,706_
_(2,399)_|_2019_
_£_
_2,307,459_|
|---|---|---|---|---|
|||||_2,307,459_
_4,307_|
|||||_2,311,766_|
|||||_2,311,766_|
||||||
|||||_2,311,766_|
|||||_-_
_2,311,766_|
||||||
|||||_2,311,766_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **R Goodenough**
## Date:
The notes on pages 8 to 18 form part of these financial statements.
Page 7
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Ogle Christian Trust constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity, and are rounded to the nearest £1.
## **1.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **1.3 Expenditure**
Expenditure is recognised on an accruals basis once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **1.4 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
Page 8
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting policies (continued)**
## **1.5 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt.
## **1.6 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **1.7 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
## **2. Investment income**
|**Unrestricted**
**funds**
**2020**
**£**
Investment income
77,093
_Unrestricted_
_funds_
_2019_
_£_
Investment income
_92,999_|**Total**
**funds**
**2020**
**£**
**77,093**|
|---|---|
||_Total_
_funds_
_2019_
_£_
_92,999_|
Page 9
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **3. Other incoming resources**
|Royalities
Royalities|**Unrestricted**
**funds**
**2020**
**£**
9,960
_Unrestricted_
_funds_
_2019_
_£_
_9,564_|**Total**
**funds**
**2020**
**£**
**9,960**|
|---|---|---|
|||_Total_
_funds_
_2019_
_£_
_9,564_|
Page 10
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **4. Analysis of expenditure by activities**
|Grant making and associated administration
Grant making and associated administration|**Grant**
**funding of**
**activities**
**2020**
**£**
173,600
_Grant_
_funding of_
_activities_
_2019_
_£_
_193,100_|**Support**
**costs**
**2020**
**£**
4,213
_Support_
_costs_
_2019_
_£_
_4,580_|**Total**
**funds**
**2020**
**£**
**177,813**|
|---|---|---|---|
||||_Total_
_funds_
_2019_
_£_
_197,680_|
## **Analysis of support costs**
|Secretarial and meeting expenses
Secretary's honorarium
Independent examiner's fee
Bank charges|**Support**
**costs**
**2020**
**£**
192
1,250
2,520
251
4,213|**Total**
**funds**
**2020**
**£**
**192**
**1,250**
**2,520**
**251**|
|---|---|---|
|||**4,213**|
Page 11
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **4. Analysis of expenditure by activities (continued)**
## **Analysis of support costs (continued)**
|Secretarial and meeting expenses
Secretary's honorarium
Independent examiner's fee
Bank charges
Legal fees|_Support_
_costs_
_2019_
_£_
_565_
_1,250_
_2,300_
_225_
_240_
_4,580_|_Total_
_funds_
_2019_
_£_
_565_
_1,250_
_2,300_
_225_
_240_|
|---|---|---|
|||_4,580_|
## **5. Analysis of grants**
|Grant making and associated administration
Grant making and associated administration|**Grants to**
**Institutions**
**2020**
**£**
164,600
_Grants to_
_Institutions_
_2019_
_£_
_183,900_|**Grants to**
**Individuals**
**2020**
**£**
9,000
_Grants to_
_Individuals_
_2019_
_£_
_9,200_|**Total**
**funds**
**2020**
**£**
**173,600**|
|---|---|---|---|
||||_Total_
_funds_
_2019_
_£_
_193,100_|
Page 12
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
The Charity has made the following material grants to institutions during the year:
||**2020**|_2019_|
|---|---|---|
||**£**|_£_|
|**Name of institution**|||
|3P Ministries|**3,000**|_3,000_|
|AGST Alliance|**4,500**|_4,500_|
|ANCC|**10,000**|_4,000_|
|Arukah Network|**4,000**|_4,000_|
|A Rocha UK|**-**|_2,500_|
|AWM|**-**|_3,000_|
|Balkan Protestant Research Trust|**-**|_6,000_|
|Bethany Trust|**23,800**|_12,000_|
|Brighton & Hove City Mission|**2,500**|_2,000_|
|CCSM|**4,000**|_4,000_|
|CLAAS|**6,000**|_3,000_|
|Cross Mission|**-**|_3,000_|
|DFN UK|**9,300**|_6,000_|
|Alam Ministries|**3,000**|_3,000_|
|Exeter ICE Charitable Trust|**3,000**|_3,000_|
|Faith2share|**-**|_2,000_|
|Forest Hill Community Church|**2,000**|_4,000_|
|France Mission Trust|**2,000**|_2,000_|
|Friends International Ministries|**4,000**|_-_|
|Global Care|**3,500**|_-_|
|Haggai International|**-**|_3,000_|
|IFES|**5,500**|_2,500_|
|Innovista|**2,500**|_3,000_|
|Interserve|**-**|_3,000_|
|John and Lynne Quanrud|**5,000**|_-_|
|Langham Partnership|**3,000**|_3,000_|
|LICC|**3,000**|_-_|
|Mahabba Network|**3,000**|_3,000_|
|MEM|**5,000**|_15,000_|
|Oak Hill College|**-**|_4,000_|
|OM UK|**20,000**|_25,000_|
|OMF International|**6,300**|_3,000_|
|Oscar|**-**|_2,000_|
|Oxford Centre for Mission Studies|**4,000**|_-_|
|Redcliffe College|**-**|_4,000_|
|Ross Paterson|**2,000**|_-_|
|Savannah Education Trust|**-**|_5,000_|
|Serving in Mission|**-**|_3,000_|
Page 13
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
|SIM-UK
Stand by Me
St Stephens HK
Starfish Asia
SWYM
Tearfund
The Centre for Muslim-Christian Studies
The Breakout Trust
The Datic Trust
The Message Trust
The Nazareth Trust
UCCF
VIVA
Yeldall Manor
Aggregate amounts less than £2,000|**3,000**
**-**
**2,000**
**3,000**
**-**
**-**
**-**
**2,500**
**2,000**
**5,000**
**-**
**2,000**
**2,000**
**-**
**(800)**
**164,600**|_-_
_3,000_
_-_
_3,000_
_1,000_
_5,000_
_5,000_
_-_
_2,000_
_2,000_
_2,400_
_2,000_
_3,000_
_2,000_
_4,000_|
|---|---|---|
|||_183,900_|
## **6. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2019 - £NIL)_ .
During the year ended 31 December 2020, no Trustee expenses have been incurred _(2019 - £NIL)_ .
Page 14
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **7. Fixed asset investments**
|**Valuation**
At 1 January 2020
Disposals
Revaluations
**At 31 December 2020**
**Net book value**
**At 31 December 2020**
_At 31 December 2019_|**Listed**
**investments**
**£**
**2,307,460**
**(95,000)**
**28,564**|
|---|---|
||**2,241,024**|
||**2,241,024**|
||_2,307,460_|
## **Investments at the year-end are comprised of:**
COIF Charities Ethical Investment Fund 526,566.11 (2019 - 562,739.72) income units valued at £1,452,375.
EdenTree Investment Management - Amity Balanced Fund for Charities 740,515.82 (2019 - the same) Class A income units valued at £788,649.
## **8. Creditors: Amounts falling due within one year**
||**2020**|_2019_|
|---|---|---|
||**£**|_£_|
|Accruals and deferred income|**2,520**|_2,399_|
Page 15
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **9. Statement of funds**
**Statement of funds - current year**
|||||||**Balance at**|
|---|---|---|---|---|---|---|
||**Balance at 1**|||||**31**|
||**January**|||**Transfers**|**Gains/**|**December**|
||**2020**|**Income**|**Expenditure**|**in/out**|**(Losses)**|**2020**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|**Designated**|||||||
|**funds**|||||||
|Capital fund|**2,280,111**|**-**|**-**|**(95,000)**|**28,564**|**2,213,675**|
|**General funds**|||||||
|General revenue|||||||
|fund|**31,655**|**87,853**|**(177,813)**|**95,000**|**-**|**36,695**|
|**Total**|||||||
|**Unrestricted**|||||||
|**funds**|**2,311,766**|**87,853**|**(177,813)**|**-**|**28,564**|**2,250,370**|
|**Statement of funds - prior year**|||||||
|||||||_Balance at_|
||_Balance at_|||||_31_|
||_1 January_|||_Transfers_|_Gains/_|_December_|
||_2019_|_Income_|_Expenditure_|_in/out_|_(Losses)_|_2019_|
||_£_|_£_|_£_|_£_|_£_|_£_|
|**Unrestricted**|||||||
|**funds**|||||||
|**Designated**|||||||
|**funds**|||||||
|Capital fund|_2,079,251_|_-_|_-_|_(90,000)_|_318,209_|_2,307,460_|
|||||||_Balance at_|
||_Balance at_|||||_31_|
||_1 January_|||_Transfers_|_Gains/_|_December_|
||_2019_|_Income_|_Expenditure_|_in/out_|_(Losses)_|_2019_|
||_£_|_£_|_£_|_£_|_£_|_£_|
|**General funds**|||||||
|General revenue|||||||
|fund|_9,423_|_102,563_|_(197,680)_|_90,000_|_-_|_4,306_|
Page 16
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **9. Statement of funds (continued)**
## **Statement of funds - prior year (continued)**
|**Total**
**Unrestricted**
**funds**|_Balance at_
_1 January_
_2019_
_£_
2,088,674|_Income_
_£_
102,563|_Expenditure_
_£_
(197,680)|_Transfers_
_in/out_
_£_
_-_|_Gains/_
_(Losses)_
_£_
_318,209_|_Balance at_
_31_
_December_
_2019_
_£_
_2,311,766_|
|---|---|---|---|---|---|---|
## **10. Summary of funds**
## **Summary of funds - current year**
|Designated
funds
General funds|**Balance at 1**
**January**
**2020**
**£**
**2,280,111**
**31,655**
**2,311,766**|**Income**
**£**
**-**
**87,853**
**87,853**
_Income_
_£_
_-_
_102,563_
_102,563_|**Expenditure**
**£**
**-**
**(177,813)**
**(177,813)**
_Expenditure_
_£_
_-_
_(197,680)_
_(197,680)_|**Transfers**
**in/out**
**£**
**(95,000)**
**95,000**
**-**
_Transfers_
_in/out_
_£_
_(90,000)_
_90,000_
_-_|**Gains/**
**(Losses)**
**£**
**28,564**
**-**
**28,564**
_Gains/_
_(Losses)_
_£_
_318,209_
_-_
_318,209_|**Balance at**
**31**
**December**
**2020**
**£**
**2,213,675**
**36,695**|
|---|---|---|---|---|---|---|
|||||||**2,250,370**|
|||||||_Balance at_
_31_
_December_
_2019_
_£_
_2,307,460_
_4,306_|
|**Summary of funds - prior year**|||||||
|Designated
funds
General funds|_Balance at_
_1 January_
_2019_
_£_
_2,079,251_
_9,423_
_2,088,674_||||||
|||||||_2,311,766_|
Page 17
**THE OGLE CHRISTIAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **11. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2020**
**£**
Fixed asset investments
2,241,024
Current assets
11,866
Creditors due within one year
(2,520)
**Total**
2,250,370|**Total**
**funds**
**2020**
**£**
**2,241,024**
**11,866**
**(2,520)**
**2,250,370**|
|---|---|
Page 18