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2021-03-31-accounts

Page
Report ofthe Trustees 1 to 3
Report ofthe Independent
Auditors		 4 to 5
Statement ofFinancial Activities
Statement ofFinancial Position
Statement ofCash Flows
Notes to the Statement ofCash Flows
Notes to the Financial Statements 10 to 19

for the year ended 31March 2021
2021 2020
Unrestricted Total
fund funds
Notes
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 2 115,750 74,024
Investment
income		 2,844,700 2,926,006
Total 2,960,450 3,000,030
EXPENDITURE ON
Charitable
activities
Making Grants to Institutions 2,519,578 3,031,801
Net gains/(losses)
on investments		 2,243,936 (1,291,896)
NET INCOME/(EXPENDITURE) 2,684,808 (1,323,667)
RECONCILIATION
OFFUNDS
Total funds brought
forward		 58,636,647 59,960,314
TOTAL FUNDS CARRIED FORWARD 61,321,455 58,636,647

STATEM ENT OF FINANCIAL
31March 2021		 POSITION
2021 2020
Unrestricted Total
fund funds
Notes
FIXEDASSETS
Tangible assets 10 755,618 789,594
Investments
Investments 11 26,455,641 24,185,855
Investment
property		 12 36,365,322 29,243,821
63,576,581 54,219,270
CURRENT ASSETS
Debtors 13 2,633,656 2,701,359
Cash at bank and in hand 2,506,465 5,708,916
5,140,121 8,410,275
CREDITORS
Amounts
falling due within one year		 14 (7,395,247) (3,982,898)
NET CURRENT ASSETS (2,255,126) 4,427,377
TOTAL ASSETSLESSCURRENT
LIABILITIES 61,321,455 58,646,647
ACCRUALS AND DEFERRED INCOME 15 (10,000)
NET ASSETS 61,321,455 58,636,647
FUNDS 16
Unrestricted
funds		 61,321,455 58,636,647
TOTAL FUNDS 61,321,455 58,636,647

f or the year ended 31March 2021
2021 2020
Notes f,
Cash flows from operating activities
Cash generated
I'rom operations		 (68,223) (1,011,260)
Interest paid (136,257) (28,219)
Tsx paid (4,713) (2,841)
Net cash used in operating activities (209,193) (1,042,320)
Cash flows from investing activities
Purchase oftangible fixed assets (112,679)
Purchase offixed asset investments (3,500,000)
Purchase ofinvestment
property
Sale offixed asset investments		 (8,196,501)
3,499,999		 (9,272,293)
5,084,950
Saleofinvestment
property		 1,049,150 (95,671)
Interest received 122,975 217,645
Dividends
received		 863,850 1,174,816
Net cash used in investing activities (6,160,527) (3,003,232)
Cash flows from financing activities
New loans in year 3,167,269 3,500,000
Net cash provided by financing
activities		 3,167,269 3,500,000
Change in cash and cash equivalents in
the reporting
period		 (3,202,451) (545,552)
Cash and cash equivalents at the
beginning
ofthe reporting		 period 5,708,916 6,254,468
Cash and cash equivalents at the end of
the reporting
period		 2,506,465 5,708,916

2021 2020
Net income/(expenditure) for the reporting period (asper the
Statement ofFinancial Activities) 2,684,808 (1,323,667)
Adjustments
for:
Depreciation
charges		 33,975 33,975
(Gain)/losses
on investments		 (2,243,936) 994,758
Interest received (122,975) (217,645)
Interest paid 136,257 28,219
Dividends
received		 (863,850) (1,174,816)
Investment
property revaluation		 in year 206,046
Decrease in debtors 72,416 237,513
Increase in creditors 235,082 204,357
Net cash used in operations (68,223) (1,011,260)

At 1/4/20 Cash flow At 31/3/21
g
Net cash
Cash at bank and in hand 5,708,916 (3,202,451) 2,506,465
5,708,916 (3,202,451) 2,506,465
Total 5,708,916 (3,202,451) 2,506,465

Long leasehold 2%on cost
Improvements to property 10%on cost
Fixtures and fittings 20%on cost
Motor vehicles 5 to 10years

DONATIONS
AND LEGACIES
2021 2020
Gift Aided donations
Refund ofGift Aid tax		 92,600
23,150		 64,024
10,000
115,750 74,024
INVESTMENT INCOME
2021 2020
Rents received 1,828,002 1,568,888
Insurance
re-charges		 51,702 42,121
Other fixed asset invest - FII 863,850 1,174,816
Deposit account interest 2,823 21,395
Other interest receivable 98,323 118,786
2,844,700 2,926,006

Grant
funding of
activities Support
Direct (see note costs (see
Costs 5) note 6) Totals
Making Grants to Institutions 214,972 2,171,936 132,670 2,519,578
GRANTS PAYABLE
2021 2020
Making Grants to Institutions 2,171,936 2,670,933

2021 2020
AJHunter
—Presence		 37,555 43,579
Ali Campbell Youth Work 1,600
Alpha International 10,000
A Roche International 1,000
Art 4All 1,000
Betel ofBritain 60,000 60,000
Bethany Project 8,000
Bible Society 12,500
BigChurch Day Out 50,000 30,000
Blackbum Cathedral Appeal 2,000 2,000
Breakout Trust 14,000 7,000
CF180 28,650
Charis Ministries 1,000 1,000
Cheer Trust 11,000 13,000
Christchurch
Harpurhey		 21,000 21,000
Christchurch
Clevedon		 5,000 5,000
Christians
Against Poverty		 12,000 12,000
Church Mission Society 3,000 3,000
Cinnamon
Network		 74,000 55,000
Clitheroe Wolves 3,570
Community
Resources		 15,000 15,000
Community
Solutions		 25,000 25,000
Crossgate Church 50,500
CSW 5,000
Dignity 34,000
Everylife Emergency 10,000
Evangelical
Alliance		 10,000 10,000
Every Life International 101,000 120,726
Foundation
for Ribble Valley Families		 5,000
4Front Theatre 12,000
Gateway Trust 11,000 20,000
GloGen Church 25,000
Hidden Treasure 6,000 25,000
Home for Good 5,000
Home Start 7,500 7,000
Hope Together 10,000 10,000
Image - Christians
Caring for Life		 2,000
Joanna Guardian
Angel		 7,200 7,200

Kijijone Primary School 15,000
L'Arche 1,000
Life Association 3,000
Light 20,000
Linden Church 1,000
Linking Lives 1,000
London City Mission 2,000
Love and Joy Ministries 72,000 72,000
LMcKeown Let's Dance 2,772
Magdalene
Project		 27,000 27,000
Make Jesus Known 20,000 20,000
Mary's Meals 158,928 158,928
Medair UK 10,000
Message Trust 212,052 212,052
Message Trust - Prison Ministry an d Lighthouse School 95,820 95,820
Message Trust - Community groce ry project 50,000
Mission Aviation Fellowship 50,000 50,000
Muck or Nettles - Cloudspoting 3,000
New Generation Music and Mission 125,504 125,504
Nightsafe 25,000 25,000
Noah Initiative 7,500 9,000
Northpoint
Fostering		 20,000
Oasis Centre 25,311 22,746
Open Arms International 98,000 75,010
Open Arms for Rachel
Others (less than f1,000)		 1,044
1,432		 1,044
2,616
PAIS 5,000 1,000
Philo Trust 15,000 15,000
Proclaim Trust 10,000 10,000
Ribble FM on behalf ofCAP 5,000
Ribblesdale
Wanderers		 15,000
RVSC Trust 25,000
RVCST - 3Gpitch 3,570 25,000
Saltmine Trust 96,000 96,000
Salvation Army 1,300 66,300
Sophie Hayes Foundation 29,500 31,995
Source ofHope 23,500 23,500
Sporting Marvels 20,000 20,000
StBartholomews
CAP		 1,000
Stonyhurst
Charity Day		 1,000 1,000
StJames Parish Church 15,000
St James Parish Church for CAP 17,500 2,500
StJames Over Darwen 2,500
SWYouth Ministries 2,000
Tear Fund 25,000
The Grand at Clitheroe 580,517
The Wayfayer Trust 1,500 26,500
Tough Living Preston 1,000
Toybox 15,000
TLG the Education Charity 50,000 40,000
Turi Micah Project 5,000 5,000
24-7 Prayer 105,000 30,000
Urban Life 10,000 10,000
Urban Saints 25,000 25,000
Vinelife Church Manchester 20,000 30,000
Visible Ministries 40,000 50,000
Vision Tank on behalf ofFearless 2,274

Wren Bakery 15,000 15,000
Youth for Christ 10,250
Refunded
gitt to Clitheroe Wolves from RVBC		 (10,000)
2,171,936 2,670,933
SUPPORT COSTS
Governance
costs
Making Grants to Institutions 132,670

2021 2020
Wages and salaries 83,166 89,598
Social security costs 5,038 6,735
88,204 108,577
The average monthly number ofemployees during the year was as follows:
2021 2020
Administrative 1 1
Management 1 1
Grounds 1 1
TANGIBLE FIXEDASSE TS
Improvements Fixtures
Long to and Motor
leasehold property fittings vehicles Totals
COST
At 1 April 2020 and
31March 2021 1,090,464 364,096 247,736 119,180 1,821,476
DEPRECIATION
At 1 April 2020 404,056 263,936 244,710 119,180 1,031,882
Charge for year 21,810 11,129 1,037 33,976
At 31March 2021 425,866 275,065 245,747 119,180 1,065,858
NET BOOK VALUE
At 31March 2021 664,598 89,031 1,989 755,618
At 31March 2020 686,408 100,160 3,026 789,594
Listed
investments
iVEET VALUE
At 1 April 2020 24,185,855
Additions 3,500,000
Disposals (3,712,522)
Revaluations 2,482,308
At 31March 2021 26,455,641
NET BOOKVALUE
At 31March 2021 26,455,641
At 31March 2020 24,185,855
There were no investment assets outside the UK.
The following
investments		 had material valuations at the balance sheet date:
COIF Charities Investment Fund 9,551,839
COIF Charities Property Fund 7,714,884
Time:Freehold 3,271,651
Marshalls pic 2,574,222
Primary Health Properties pic 682,836
Bristol Water pic 630,000
REA Holdings pic 648,000
Ecclesiastical Insurance 347,625

Midland Hotel, Morecambe Midland Hotel, Morecambe 4,450,000
Lloyds TSB,York 2,739,720
Mersey Lights filling station, Manchester 3,300,000
Skoda Garage, Bolton 2,687,768
Co-op, Handbridge service station 4,460,197
Co-op, East Derehsm 3,199,951
DEBTORS
2021 2020
Amounts
falling due		 within one year:
Rental income debtors 444,663 147,114
Other debtors 532,247 57,752
Tax 7,554 2,841
Prepayments
and accrued income		 270,063 263,920
1,254,527 471,627
Amounts
falling due		 after more than one year:
Other debtors 1,379,129 2,229,732
Aggregate
amounts		 2,633,656 2,701,359

CREDITORS: AMOUNTS FALLING DUE WITHI N ONE YEAR
2021 2020
Trade creditors 70,322 31,109
Social security and other taxes 2,560 2,485
VAT 283,830 66,462
Other creditors 6,667,269 3,500,000
Accruals and deferred income 371,266 382,842
7,395,247 3,982,898
ACCRUALS AND DEFERRED INCOME
2021 2020
I
Accruals and deferred income 10,000
MOVEMENT IN FUNDS
Net
movement At
At 1/4/20 in funds 31/3/21
Unrestricted
funds
General fund 58,636,647 2,684,808 61,321,455
TOTAL FUNDS 58,636,647 2,684,808 61,321,455
Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted funds
General fund 2,960,450 (2,519,578) 2,243,936 2,684,808
TOTAL FUNDS 2,960,450 (2,519,578) 2,243,936 2,684,808

Net
movement At
At 1/4/19 in funds 31/3/20
Unrestricted funds
General fund 59,960,314 (1,323,667) 58,636,647
TOTALFUNDS 59,960,314 (1,323,667) 58,636,647

Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted funds
General fund 3,000,030 (3,031,801) (1,291,896) (1,323,667)
TOTAL FUNDS 3,000,030 (3,031,801) (1,291,896) (1,323,667)
Net
movement At
At 1/4/19 in funds 31/3/21
6
Unrestricted funds
General fund 59,960,314 1,361,141 61,321,455
TOTAL FUNDS 59,960,314 1,361,141 61,321,455
Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted funds
General fund 5,960,480 (5,551,379) 952,040 1,361,141
TOTAL FUNDS 5,960,480 (5,551,379) 952,040 1,361,141

2021 2020
Open Arms International 70,000 70,000
Mission Aviation Fellowship 50,000 50,000
Saltmine Trust 96,000 96,000
Message Trust 307,872 307,872
Mary's Meals 158,928 158,928
Betel ofBritain 60,000 60,000
Joanna Guardian Angel 7,200 7,200
Turi Micah Project 5,000
Ribble FM CIC 5,000
Visible Ministries 20,000 40,000

OTHER FINANCIAL COMMITMENTS - continued
24-7 Prayer 145,000 105,000
Noah Initiative 5,500
Cotnmunity
Solutions		 25,000
Gateway Trust 10,000
Nightsafe 25,000 25,000
Philo Trust 15,000 15,000
Source ofHope 23,500
Urban Life 10,000
Christchurch
Clevedon		 5,000
Cinnamon
Network		 55,000 55,000
Sporting Marvels 20,000
Wren Bakery 15,000
Dignity 17,000
1,062,000 1,079,000