| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 3 |
| Report ofthe Independent Auditors |
Ate | 5 | |
| Statement ofFinancial Activities | |||
| Statement ofFinancial Position | |||
| Statement ofCash Flows | |||
| Notes tothe Statement ofCash Flows | |||
| Notes to the Financial Statements | 10 | to | 19 |
| Detailed Statement ofFinancial Activities | 20 | to | 21 |
| STATEM for |
ENT OFFINANCIAL A the year ended 31March |
CTIVITIES 2023 |
|
|---|---|---|---|
| 2023 | 2022 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | |||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies |
150 | ||
| Investment income |
3,394,770 | 3,414,408 | |
| Total | 3,394,920 | 3,414,408 | |
| EXPENDITURE ON | |||
| Charitable activities |
|||
| Making Grants to Institutions | 2,745,111 | 3,041,969 | |
| Net gains/posses) on investtnents |
(3,586,860) | 6,229,035 | |
| NET INCOME/(EXPENDITURE) | (2,937,051) | 6,601,474 | |
| RECONCILIATION OF FUNDS |
|||
| Total funds bmught forward |
67,922,929 | 61,321,455 | |
| TOTAL FUNDS CARRIED FORWARD | 64,985,878 | 67,922,929 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | ||||
| FIXEDASSETS | ||||
| Tangible assets | 10 | 716,123 | 729,567 | |
| Investments | ||||
| Investments | 11 | 25,055,002 | 28,460,662 | |
| Investment property |
12 | 36,932,554 | 44,432,554 | |
| 62,703,679 | 73,622,783 | |||
| CURRENT ASSETS | ||||
| Debtors | 13 | 747,010 | 946,033 | |
| Cash at baidr and in hand | 5,912,900 | 1,711,865 | ||
| 6,659,910 | 2,657,898 | |||
| CREDITORS | ||||
| Amounts falling due within |
one year | 14 | (4,377,711) | (8,357,752) |
| NET CURRENT ASSETS | 2,282,199 | (5,699,854) | ||
| TOTAL ASSETSLESSCURRENT | ||||
| LIABILITIES | 64,985,878 | 67,922,929 | ||
| NET ASSETS | 64,985,878 | 67,922,929 | ||
| FUNDS | 15 | |||
| Unrestricted funds |
64,985,878 | 67,922,929 | ||
| TOTAL FUNDS | 64,985,878 | 67,922,929 |
| STATEMENT OF for the year ended |
CASH FLOWS 31March 2023 |
||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Notes | |||||
| Cash flows from operating | activities | ||||
| Cash generated from operations | (71,593) | 918,274 | |||
| Interest paid | (167,486) | (175,419) | |||
| Finance costs paid | 76 | ||||
| Tsx paid | (4496) | ||||
| Net cash (used in)/provided | by operating | activities | (239,079) | 738,635 | |
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed assets | (27,741) | (9,836) | |||
| Purchase offixed asset investments | (200,000) | (50,001) | |||
| Purchase ofinvestment property Saleoffixed asset investments |
200,000 | (3,843,644) 50,427 |
|||
| Saleofinvestment pmpeity |
7,311,865 | ||||
| Interest received | 49,610 | 177,000 | |||
| Dividends received |
1,106,380 | 1,003,794 | |||
| Net cash provided by/(used | in) investing | activities | 8,440,114 | (2,672,260) | |
| Cash flows from financing | acfivtties | ||||
| New loans in year | 1,139,025 | ||||
| Loan repayments in year |
(4,000,000 ) | ||||
| Net cash (used in)/provided | by financing | activities | (4,000,000 ) | 1,139,025 | |
| Change in cash and cash equivalents | in | ||||
| the reporting period | 4,201,035 | (794,600) | |||
| Cash and cash equivalents | atthe | ||||
| beginning ofthe reporting | period | 1,711,865 | 2,506,465 | ||
| Cash and cash equivalents | atthe end | of | |||
| the reporting period | 5,912,900 | 1,711,865 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| Net (expenditure)/income | for the reporting | period (as per the | ||
| Statement ofFinancial Activities) Adjustments for: |
(2,937,051) | 6,601,474 | ||
| Depreciation charges |
41,185 | 35,887 | ||
| Losses/(gain) on investments Interest received |
3,593,795 (49,610) |
(6,229,035) (177,000) |
||
| Interest paid | 167,486 | 175,419 | ||
| Finance costs | (76) | |||
| Dividends received |
(1,106380) | (1,003,794 ) | ||
| Decrease in debtors | 199,023 | 1,691,919 | ||
| Increase/(decrease) in creditors |
19,959 | (176,520) | ||
| Net cash (used inFprovided | by operations | (71,593) | 918,274 |
| At 1/4/22 | Cash flow | At 31/3/23 | |
|---|---|---|---|
| Net cash | |||
| Cash atbank snd in hand | 1,711,865 | 4,201,035 | 5,912,900 |
| 1,711,865 | 4,201,035 | 5,912,900 | |
| Total | 1,711,865 | 4,201,035 | 5,912,900 |
| INVESTMENT INCOME | ||
|---|---|---|
| 2023 | 2022 | |
| Rents received | 2,193,253 | 2,169,918 |
| Insurance re-charges | 47,862 | 70,169 |
| Other fixed asset invest - FII | 1,106,380 | 1,003,794 |
| Deposit account interest | 37,807 | 3 |
| Other interest receivable | 9,468 | 170,524 |
| 3,394,770 | 3,414,408 |
| Grant | ||||
|---|---|---|---|---|
| funding of | ||||
| acfivities | Support | |||
| Dimct | (see note | costs (see | ||
| Costs | 5)f | note 6) | Totals | |
| Making Grants to Institutions | 348,408 | 2,141,068 | 255,635 | 2,745,111 |
| GRANTS PAYABLE | ||||
| 2023 | 2022 | |||
| Making Gmnts to Institutions | 2,141,068 | 2,558228 |
| 2023 | 2022 | ||
|---|---|---|---|
| Achievement through |
collabomtion - 3GPitch | 175,000 | |
| AJHunter - Presence | 5,292 | 8,100 | |
| Alpha International | 10,000 | ||
| Betel ofBritain | 60,000 | 60,000 | |
| Big Church Day Out | 50,000 | 30,000 | |
| Breakout Trust | 7,000 | ||
| Charis Ministries | 11,000 | 7,000 | |
| Changing Tunes |
1,000 | ||
| Cheer Trust | 13,000 | 8,000 | |
| Christchurch Harpurhey |
8,000 | 20,500 | |
| Christchurch Clevedon |
5,000 | 5,000 | |
| Christians Against Poverty | 12,000 | 12,000 | |
| Christian Solidarity |
15,000 | ||
| Church Mission Society | 3,000 | 3,000 | |
| Cinnamon Network |
27,500 | 55,000 | |
| Conununity Resources |
15,000 | 15,000 | |
| Conununity Solutions |
1,000 | ||
| Cry in the Dark | 1,500 | ||
| CSW | 15,000 | ||
| CUSP | 1,000 | ||
| Dignity | 17,000 | ||
| Evangelical Alliance |
10,000 | 10,000 | |
| Every Life International | 131,000 | 130,500 | |
| 4Fmnt Theatre | 5,000 | ||
| Gateway Trust | 5,000 | 5,000 | |
| Hidden Treasure | 1,000 | 18,000 |
| Horne Start | 10,000 | 10,500 | |||||
|---|---|---|---|---|---|---|---|
| Hope Metro | 105,526 | ||||||
| Hope Together | 10,000 | 10,000 | |||||
| Image and Pregnancy Helpline |
8,000 | 2,000 | |||||
| International Aid Trust |
10,000 | ||||||
| International Aid Trust - Ukraine |
25,000 | ||||||
| International Needs |
1,000 | ||||||
| Joanna Guardian Angel |
7,200 | 7,200 | |||||
| Just-Ice Poynton | 2,000 | 10,000 | |||||
| Kairos Housing | 29,489 | ||||||
| Kyrie Network | 5,000 | 5,000 | |||||
| Light | 20,000 | ||||||
| Linden Church | 26,587 | 37,968 | |||||
| Love and Joy Ministries | 72,000 | 72,000 | |||||
| Magdalene Project |
27,000 | 27,000 | |||||
| Make Jesus Known | 20,000 | ||||||
| Marriage Foundation | 8,000 | ||||||
| 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 - extra gift | 75,000 | ||||||
| Message Trust - Commumty | grocery | proiect | 38,000 | ||||
| Mission Aviation Fellowship | 50,000 | 50,000 | |||||
| NewDay | 10,000 | ||||||
| New Generation Music snd |
Mission | 125,504 | 130,504 | ||||
| Nightsafe | 11,000 | 25,000 | |||||
| Noah Initiative | 5,000 | ||||||
| Oasis Centre | 46,261 | 46,261 | |||||
| Open Anna International | 77386 | 69,337 | |||||
| Open Arms forRachel | 1,044 | 1,044 | |||||
| Oriel Ministries | 1,000 | ||||||
| Others (less than $1,000) | 805 | 2478 | |||||
| PAIS | 25,000 | ||||||
| Philo Trust | 15,000 | ||||||
| Proclaim Trust | 10,000 | 10,000 | |||||
| Ribblesdale Wanderers |
3,000 | ||||||
| Saltmine Trust | 96,000 | 96,000 | |||||
| Salvation Army | 1,300 | 1,300 | |||||
| Sophie Hayes Foundation | 15,000 | 20,500 | |||||
| Sporting Marvels | 20,000 | 20,000 | |||||
| Stonyhurst Charity Day |
1,000 | 1,000 | |||||
| StJames Parish Church | 10,000 | ||||||
| StJames Parish Church for CAP | 2,500 | 12,500 | |||||
| SWYouth Ministries | 10,000 | 5,000 | |||||
| Tear Fund | 10,000 | ||||||
| The Grand at Clitheroe | 15,000 | 122,160 | |||||
| The Wayfayer Trust | 26,500 | 26,500 | |||||
| TLGthe Education Charity | 50,000 | 50,000 | |||||
| The 180Project | 92,250 | 70,250 | |||||
| The Big Give | 20,000 | 15,000 | |||||
| 24-7 Prayer | 175,000 | 145,000 | |||||
| Urban Saints | 25,000 | 25,000 | |||||
| Visible Ministries | 57,250 | 42,500 | |||||
| Wren Bakery | 31,000 | 16,000 | |||||
| Youthscape | 40,000 |
| GRANTS PAYABLE - continued | ||
|---|---|---|
| 2,141,068 | 2,558428 | |
| SUPPORT COSTS | ||
| Governance | ||
| costs | ||
| Making Grants to Institutions | 255,635 |
| STAFFCOSTS | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||
| Wages and salaries | 139,681 | 112,471 | |||||||
| Social security costs | 10,197 | 7,409 | |||||||
| ,149,878 | 119,880 | ||||||||
| The average monthly | number ofemployees | during | the year | was as follows: | |||||
| 2023 | 2022 | ||||||||
| Administrative | 1 | 1 | |||||||
| Management | 2 | 2 | |||||||
| Grounds | 1 | 1 | |||||||
| The number ofemployees | whose total employee | benefits | excluding | pension | contributions earning |
over | 660,000, | ||
| classified within bands off10,000is as follows: | |||||||||
| 2023 | 2022 | ||||||||
| 660,000 - 669,999 | 1 | 0 |
| Improvements | Fixtures | ||||
|---|---|---|---|---|---|
| Long | to | and | Motor | ||
| leasehold | pmp arty | fittings | vehicles | Totals I |
|
| COST | |||||
| At 1 April 2022 | 1,090,464 | 364,096 | 257,572 | 119,180 | 1,831,312 |
| Additions | 27,741 | 27,741 | |||
| At 31March 2023 | 1,090,464 | 364,096 | 285,313 | 119,180 | 1,859,053 |
| DEPRECIATION | |||||
| At 1 April 2022 | 447,675 | 286,194 | 248,696 | 119,180 | 1,101,745 |
| Charge foryear | 21,809 | 11,129 | 8,247 | 41,185 | |
| At 31March 2023 | 469,484 | 297,323 | 256,943 | 119,180 | 1,142,930 |
| NET BOOKVALUE | |||||
| At 31March 2023 | 620,980 | 66,773 | 28,370 | 716,123 | |
| At 31March 2022 | 642,789 | 77,902 | 8,876 | 729,567 |
| FIXEDASSETINVESTMENTS | |
|---|---|
| Invesnnents | |
| 6 | |
| MARKET VALUE | |
| At 1 April 2022 | 28,460,662 |
| Additions | 200,000 |
| Disposals | (221,000) |
| Revaluations | (3,384,660) |
| At 31March 2023 | 25,055,002 |
| NET BOOKVALUE | |
| At 31March 2023 | 25,055,002 |
| At 31March 2022 | 28,460,662 |
| Valuation | in | 2019 | 1,728,221 | |
|---|---|---|---|---|
| Valuation | in | 2022 | 173,612 | |
| Cost | 35,030,721 | |||
| 36,932,554 | ||||
| DEBTORS | ||||
| 2023 | 2022 | |||
| f | ||||
| Amounts | falling due within one year: | |||
| Rental income debtors | 94,403 | 140,073 | ||
| Other debtors | 37,087 | 108,790 | ||
| Tax | 11,850 | 11,850 | ||
| Prepayments | and accrued income | 239,604 | 288,762 | |
| 382,944 | 549,475 | |||
| Amounts | fafiing due after more than one year: | |||
| Other debtors | 364,066 | 396,558 | ||
| Aggregate | amounts | 747,010 | 946,033 |
| CREDITORS: AMOUNTS FALLING DUE WITHIN | ONE YEAR | |
|---|---|---|
| 2023 | 2022 | |
| Trade creditors | 6,621 | 7,276 |
| Social security and other taxes | 4,176 | 3,965 |
| VAT | 73,896 | 87,203 |
| Other creditors | 3,821,294 | 7,821394 |
| Accrusls and deferred income | 471,724 | 438,014 |
| 4,377,711 | 8,357,752 |
| MOVEMEN | T IN FUNDS | |||||
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | At | |||||
| At 1/4/22 | in funds | 31/3/23 | ||||
| I | ||||||
| Unrestricted | funds | |||||
| General fund | 67,922,929 | (2,937,051) | 64,985,878 | |||
| TOTAL FUNDS | 67,922,929 | (2,937,051 ) | 64,985,878 | |||
| Net movement | in funds, included | in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses I |
in funds f, |
|||
| Unrestricted | funds | |||||
| General fund | 3,394,920 | (2,745,111) | (3,586,860) | (2,937,051) | ||
| TOTAL FUNDS | 3,394,920 | (2,745,111) | (3,586,860) | (2,937,051) | ||
| Comparatives | for movement | in | funds | |||
| Net | ||||||
| movement | At | |||||
| At 1/4/21 | in funds | 31/3/22 | ||||
| 6 | ||||||
| Unrestricted | funds | |||||
| General fund | 61,321,455 | 6,601,474 | 67922929 | |||
| TOTAL FUNDS | 61,321,455 | 6,601,474 | 67,922,929 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources f |
expended | losses | in funds | ||
| Unrestricted | funds | ||||
| General fund | 3,414,408 | (3,041,969) | 6,229,035 | 6,601,474 | |
| TOTAL FUNDS | 3,414,408 | (3,041,969) | 6,229,035 | 6,601,474 | |
| A current year | 12months and prior year 12months combined | position isas follows: | |||
| Net | |||||
| movement | At | ||||
| At 1/4/21 | in funds | 31/3/23 | |||
| f | |||||
| Unrestricted | funds | ||||
| General fund | 61,321,455 | 3,664,423 | 64,985,878 | ||
| TOTAL FUNDS | 61,321,455 | 3,664,423 | 64,985,878 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| Unrestricted | funds | ||||
| General fund | 6,809,328 | (5,787,080) | 2,642,175 | 3,664,423 | |
| TOTAL FUNDS | 6,809,328 | (5,787,080) | 2,642,175 | 3,664,423 |
| 2023 | 2022 | |
|---|---|---|
| f, | ||
| BetelofBritain | 60,000 | 60,000 |
| BigChurch Festival | 30,000 | |
| Breakout Trust | 7,000 | |
| Charis Ministries | 6,000 | 6,000 |
| Cheer Trust | 12,000 | 12,000 |
| Christchurch Clevedou |
5,000 | |
| Christians Against Poverty |
12,000 | 12,000 |
| Church Mission Society | 3,000 | 3,000 |
| Cinnamon Network |
27,500 |
| Evangelical Alliance | Evangelical Alliance | 10,000 | |
|---|---|---|---|
| Everylife | 130,000 | 130,000 | |
| 4FrontThe atra | 5,000 | ||
| Fusion UK Student Link Up | 15,000 | ||
| Joanna Guardian | Angel | 7,200 | 7,200 |
| Kyrie Network | 5,000 | ||
| Magdalene Project |
20,000 | 23,500 | |
| Mary's Meals | 52,980 | 158,928 | |
| Message Trust | 307,872 | 307,872 | |
| Mission Aviation | Fellowship | 50,000 | 50,000 |
| NGM | 120,504 | 120,504 | |
| Nightsafe | 10,000 | ||
| Oasis Centre | 45,261 | ||
| Open Arms International | 70,000 | 70,000 | |
| Pais Project | 20,000 | 20,000 | |
| Pmclairn Trust | 5,000 | ||
| Saltmine Trust | 96,000 | 96,000 | |
| Sophie Hayes Foundation | 15,000 | 15,000 | |
| Sporting Marvels | 20,000 | ||
| StJames Youth worker | 10,000 | ||
| StJames CAP | 2,500 | ||
| The 180Project | 111,000 | 39,750 | |
| TLG Education charity | 50,000 | 50,000 | |
| Urban Saints | 25,000 | 25,000 | |
| Visible Mtnishies | 45,000 | 22,500 | |
| Wayfarer Trust | 25,000 | 1,500 | |
| 247 Prayer | 145,000 | 145,000 | |
| 1,485,556 | 1,471,015 |
| forthe year ended 31M | arch 2023 | ||
|---|---|---|---|
| 2023 | 2022 | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Donations | 150 | ||
| Investmentincome | |||
| Rents received | 2,193,253 | 2,169,918 | |
| Insurance re-chsrges |
47,862 | 70,169 | |
| Other fixed asset invest | -Fll | 1,106,380 | 1,003,794 |
| Deposit account interest | 37,807 | 3 | |
| Other interest receivable | 9,468 | 170,524 | |
| 3,394,770 | 3,414,408 | ||
| Total incoming resources | 3,394,920 | 3,414,408 | |
| EXPENDITURE | |||
| Charitable activities |
|||
| Wages | 139,681 | 112,471 | |
| Social security | 10,197 | 7,409 | |
| Pensions | 5,189 | 3,182 | |
| Staffrelocation costs | 8,000 | ||
| Rent | 5350 | 5,250 | |
| Rates and water | 2,900 | 2,382 | |
| Insurance | 63,609 | 72,019 | |
| Light and heat | 13,771 | 6,448 | |
| Telephone | 867 | 842 | |
| Postage and stationery | 2,868 | 1,621 | |
| Advertising | 1 | ||
| Travelling | 4,042 | 3,991 | |
| Repairs and maintenance | 47,187 | 11,411 | |
| Events hospitality | 1374 | 237 | |
| Sundry expenses | 718 | 496 | |
| Consultancy fees |
3,970 | 1,825 | |
| Website development | 5,699 | ||
| Depreciation oflong leasehold | 21,809 | 21,809 | |
| Depreciation ofpmperty | impmveruents | 11,129 | 11,129 |
| Depreciation offixtures | 61fittings | 8,247 | 2,949 |
| Grants to institutions | 2,141,068 | 2,558,228 | |
| 2,489,476 | 2,831,699 | ||
| Support costs | |||
| Governance costs |
|||
| Auditors' remuneration |
7,090 | 5,730 | |
| Auditors' remuneration |
for non audit work | 5,768 | 5,142 |
| Bookkeeping | 7,098 | 6,171 | |
| Carried forward | 19,956 | 17,043 |
| fortbe year ended 31Ma | rch 2023 | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Governance costs |
||||
| Bmught forward | 19,956 | 17,043 | ||
| Legal and professional | fees | 68,103 | 17,884 | |
| Bank charges | 90 | |||
| Loan | 167,486 | 175,419 | ||
| Foreign exchange differences | (76) | |||
| 255,635 | 210,270 | |||
| Total resources expended | 2,745,111 | 3,041,969 | ||
| Net income before gains | and losses | 649,809 | 372,439 | |
| Realised recognised gains and losses | ||||
| Realised and unrealised | gains/ (losses) on fixed | |||
| asset investments | (3,398,725) | 2,005,447 | ||
| Realised and unrealised | gains /(tosses) on | |||
| investment property |
(188,135) | 4423,588 | ||
| Net (expenditnre)/income | (2,937,051 ) | 6,601,474 |