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