##
|||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|
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|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|
##
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##
||||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|
##
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|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|