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|INDEX|||PAGE|
|---|---|---|---|
|Trustees'
annual
report||||
|Report of the auditors|||9-11|
|Statement offinancial|activities||12|
|Summary
income and|expenditure|account|13|
|Balance sheet|||14|
|Statement of Cash Flows|||15|
|Notes to the financial|statements||16-26|
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|Reference and|Administrative|Administrative|Administrative|Details||||
|---|---|---|---|---|---|---|---|
|Company
registration|||number:||1562723|||
|Charity registration||number:|||1068103|||
|Registered|Office:||||Somerset House, St Paul's Street|||
||||||Morley, Leeds, LS279EP|||
||||||Telephone|01132898490||
||||||Fax|01132898491||
||||||office@urcyorkshire. org.uk
Email|||
|Web Site:|||||www. urcyorkshire. org.uk|||
|Trustees &Directors:|||||Mr J Charlesworth|||
||||||Rev S K Copley (from 1January 2020)|||
||||||Rev A Crump|||
||||||Mr W Duncan (to 21January 2020)|||
||||||Mr C Evans|||
||||||Mr SGooder|||
||||||Rev J Kissack (from 15'" September 2020)|||
||||||Rev KWatson (to 30'"|June 2020)||
|Secretary toTrustees|||&Company Secretary:||Rev Dr Matthew
Prevett (to 21January 2020)|||
||||||Mr Alastair
C Forsyth (from 21January||2020)|
|Bankers:|||||National
Westminster|Bank pic||
||||||Leeds City Branch, PO|Box154,||
||||||8 Park Row, Leeds, LS11QS|||
|Solicitors:|||||Lupton Fawcett
LLP|||
||||||Yorkshire
House,|||
||||||East Parade, Leeds, LS15BD|||
|Auditors:|||||SMH Jolliffe Cork Audit|Ltd||
||||||Chartered
Accountants|and Statutory|Auditor,|
||||||33George Street,|||
||||||Wakefield, WF1 1LX|||
|Investment|Managers:||||Brewin Dolphin
Ltd|||
||||||10Wellington
Place, Leeds, LS14AN|||
|Property Advisers:|||||Walker Singleton|||
||||||Property
House, Lister|Lane,||
||||||Halifax, HX15AS|||
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|||2020|2019|
|---|---|---|---|
|Income as reported|on the SOFA|692,212|778,962|
|Gains on investments|||460,360|
|Gain on revaluation|offixed assets|113,182||
|Gross income
in the|reporting
period|805,394|1,239,322|
|Expenditure
as reported
on the SOFA||879,949|1,096,007|
|Losses on investments||(93,483)||
|Net (expenditure)
I|income for the year|(168,038)|143,315|
##
##
|||||||2020||2019|
|---|---|---|---|---|---|---|---|---|
|||||Note|||||
|Fixed assets:|||||||||
|Tangible assets||||9||1,408,921||1,234,382|
|Investments||||11||7,182,506||7,326,151|
|Total fixed assets||||||8,591,427||8,560,533|
|Current assets:|||||||||
|Debtors||||12||29,514||165,569|
|Investments
- Short||term|deposits|||1,041,371||1,037,371|
|Cash at bank and|in hand|||||11„791||48,549|
|Total current assets||||||1,082,676||1,251,489|
|Liabilities:|||||||||
|Creditors: amounts||falling|||||||
|due within one||year||14||(237,868)||(273,984)|
|Net current assets||||||844,808||977,505|
|Total assets less current|||liabilities|||9,436,235||9,538,038|
|Creditors: amounts||falling due|||||||
|after more than||one|year|15||(222,004)||(136,676)|
|Total net assets||||||9,214,231||9,401,362|
|The funds ofthe|charity:|||16 - 18|||||
|Endowment
funds||||||1,113,682||1,132,775|
|Revaluation
reserve/(deficit)|||||177,034||63,852||
|Other restricted
funds|||||7,858,777|8,035,811|7,969,540|8,033,392|
|Unrestricted
designated|||funds|18|0||81,200||
|Other unrestricted|funds||||64,738|64,738|153,995|235,195|
|Total charity funds||||||9,214,231||9,401,362|
##
##
||||||2020|2019|
|---|---|---|---|---|---|---|
||||||Total|Total|
||||||Funds|Funds|
|Cash flows from operating
activities:|||||||
|Net cash usedin operating
activities|||||(232,936)|(696,449)|
|Cash flows from investing
activities:|||||||
|Dividends,
interest and rents from investments|||||249,969|305,147|
|Net proceeds/(costs)
associated|with the sale||oftangible|fixed assets|307|(467)|
|Purchase oftangible
fixed assets|||||(96,554)|(73,580)|
|Proceeds from the sale of investments|||||1,466,547|1,347,990|
|Cash (added to) /withdrawn
from|investments|||||(700,000)|
|Purchase ofinvestments|||||(1,430,904)|(1,315,187)|
|Net cash provided
by (used in) investing||activities|||189,355|(436,097)|
|Change in cash and cash equivalentsin||the reporting period|||(43,581)|(1,132,546)|
|Cash and cash equivalents
at the beginning|||ofthe reporting||||
|period|||||1,085,920|2,218,466|
|Cash and cash equivalents
at the end||ofthe reporting||period|1,042,339|1,085,920|
|Reconciliation
ofnet (expenditure)/income|||to net cash flow from operating||activities||
||||||2020|2019|
||||||Total|Total|
||||||Funds|Funds|
||||||E|F|
|Net (expenditure)income
for the reporting period (as||||per the|||
|statement offinancial activities)|||||(300,313)|240,223|
|Adjustments
for:|||||||
|Depreciation
charges|||||34,822|33,513|
|Losses /(Gains)
on investments|||||108,002|(562,239)|
|Dividends,
interest and rents from|investments||||(249,959)|(305,147)|
|(Profit)/loss
on the sale oftangible|fixed assets||||(10,765)|561|
|Decrease /(Increase)
in debtors|||||136,065|(140,396)|
|(Decrease) /Increase
in creditors|||||49,212|37,036|
|Net cash used in operating
activities|||||(232,936)|(696,449)|
|Analysis ofcash and cash equivalents|||||||
||||||2020|2019|
||||||Total|Total|
||||||Funds|Funds|
|Cash at bank and
in hand|||||11,791|48,549|
|Notice deposits (less than 3months)|||||1,041,371|1,037,371|
|Total cash and cash equivalents|||||1,053,162|1,085,920|
##
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##
##
##
|ncome from charitable
activities|||2020|2019|
|---|---|---|---|---|
|||||F|
|Net proceeds of redundant
manse funds and sale|of redundant|churches|255,069|315,027|
|Income from church closed
in the year|||106,472|37,395|
|Contribution
from Norther
Province to safeguarding|costs||15,445||
|Interest
on loans to churches
& ministers|||8|79|
|Management
charge (see note 13)|||5,268|4,158|
||||382,262|356,659|
##
|Income|from Investments|2020|2019|
|---|---|---|---|
|Income|from quoted
investments|224,980|274,318|
|Investment
property
rents||22,756|22,756|
|Interest|on bank balances|2 223|8,073|
|||249,959|305,147|
##
##
|5|Expenditure
on raising||funds and charitable|funds and charitable|funds and charitable|activities|||||
|---|---|---|---|---|---|---|---|---|---|---|
||Expenditure
on raising||funds|||Direct|Grant|Support|||
|||||||costs|funding|costs|2020|2019|
|||||||E|E|P|E|E|
||Managing investments||||||||||
||Investment
management||fees|||27,673|||27,673|29,673|
||Support costs|||||||20,777|20,777|22,976|
|||||||27,673||20,777|48,450|52,649|
||Expenditure
on charitable|||activities||Direct|Grant|Support|Total|Total|
||Grant making|||||costs|funding|costs|2020|2019|
||Grants to individuals|||||f.||E|E|E|
||Retired ministers
and widows (6grants)||||||5,000||5,000|6,900|
||Grants to URC institutions||||||||||
||To churches
for mission||activities (10grants)||||221,381||221,381|152,484|
||To churches
for property||surveys (7grants)||||2,385||2,385|1,120|
||Vision 8 Opportunity
to|churches (15grants)|||||125,076||125,076|396,282|
||Support costs|||||||5,194|5,194|5,744|
||||||||353,842|5,194|359,036|562,530|
||Other charitable
activities||||||||||
||Training
ministers
and lay||members|||33,922||2,597|36,519|51,255|
||Youth, children
and safeguarding||||112,543|||2,598|115,141|88,552|
||Administering
churches'|property|||||||||
||and investments|||||1,046||62,331|63,377|69,844|
||Supporting
committees
and|||Synod||10,439||36,360|46,799|56,244|
||Pastoral work|||||1,183||20,777|21,960|24,148|
||Supporting
and encouraging|||URC|||||||
||churches,
districts and|centrally||||27,494||70,123|97,617|97,526|
||Chaplaincies,
industrial
mission||||||||||
||and ecumenical
relations|||||2,216||5,194|7,410|7,196|
||Management
8 maintenance|||of|||||||
||Synod properties|||||40,760||12,986|53,746|49,360|
||Sundry and contingencies|||||1,986|||1,986|1,348|
||||||231,589|||212,966|444,555|445,473|
||Governance
costs||||||||||
||External audit fee|||||5,526|||5,526|5,508|
||Internal
audit and accountancy|||||1,596|||1,596|1,794|
||Legal and professional
fees|||||2,803|||2,803|2,190|
||Recruitment
fees|||||(20)|||(2o)|5,197|
||Revaluation
fees|||||1,800|||1,800|2,100|
||Support costs|||||||20,777|20,777|22,976|
|||||||11,705||20,777|32,482|39,765|
||Total expenditure
on||||||||||
||charitable
activities||||243 294||353842|238937|836 073|1 047 768|
##
##
|6|Expenditure
on raising||funds and charitable|funds and charitable|funds and charitable|activities|-previous|year|||
|---|---|---|---|---|---|---|---|---|---|---|
||Expenditure
on raising|funds - previous year|||||Direct|Grant|Support||
||||||||costs|funding|costs|2019|
||||||||||E|E|
||Managing investments||||||||||
||Investment
management||fees||||29,673|||29,673|
||Support costs||||||||22,976|22,976|
||||||||29,673||22,976|52,649|
||Expenditure
on charitable|||activities - previous year|||||||
||||||||Direct|Grant|Support|Total|
||Grant making||||||costs|funding|costs|2019|
||Grants to individuals|||||||F|P|E|
||Retired ministers
and widows (7 grants)|||||||6,900||6,900|
||Grants to URC institutions||||||||||
||To churches
for mission||activities||(27 grants)|||152,484||152,484|
||To churches
for property||surveys||(7grants)|||1,120||1,120|
||Vision & Opportunity
to|churches|||(110grants)|||396,282||396„282|
||Support costs||||||||5,744|5,744|
|||||||||556,786|5,744|562,530|
||Other chantable
activities||||||||||
||Training
ministers
and lay||members||||48,383||2,872|51,255|
||Youth, children
and safeguarding||||||85,680||2,872|88,552|
||Administering
churches'|property|||||||||
||and investments||||||918||68,926|69„844|
||Supporting
committees
and|||Synod|||16,037||40,207|56,244|
||Pastoral work||||||1,173||22,975|24,148|
||Supporting
and encouraging|||URC|||||||
||churches,
districts and|centrally|||||19,984||77,542|97,526|
||Chaplaincies,
industrial
mission||||||||||
||and ecumenical
relations||||||1,452||5,744|7,196|
||Management
& maintenance|||of|||||||
||Synod properties||||||35,000||14,360|49,360|
||Sundry and contingencies||||||1,348|||1,348|
||||||||209,975||235,498|445,473|
||Governance
costs||||||||||
||External
audit fee||||||5,508|||5,508|
||Internal
audit and accountancy||||||1,794|||1,794|
||Legal and professional
fees||||||2,190|||2,190|
||Recruitment
fees||||||5,197|||5,197|
||Revaluation
fees||||||2,100|||2,100|
||Support costs||||||||22,976|22,976|
||||||||16,789||22,976|39,765|
||Total expenditure
on||||||||||
||charitable
activities||||||226 764|556 786|264218|1 047 768|
##
##
|Analysis ofsup|port costs||||||
|---|---|---|---|---|---|---|
|||||Other|||
|||Raising|Grant-|charitable|||
|||funds|maklng|activities|Governance|Total|
|Office staff costs||17,939|4,484|183,872|17,939|224,234|
|Office rates and|maintenance|1,059|265|10,857|1,059|13,240|
|Office expenses|and equipment|1,096|274|11,234|1,096|13,700|
|Depreciation||683|171|7,003|683|8,640|
|||20,777|5,194|212,966|20,777|269,714|
|Analysis ofsupport costs - previous year|||||||
|||||Other|||
|||Raising|Grant-|charitable|||
|||funds|making|activities|Governance|Total|
|||E||K|||
|Office staff costs||17,391|4,348|178,253|17,391|217,383|
|Office rates and|maintenance|3,415|854|35,000|3,415|42,684|
|Office expenses|and equipment|1,507|377|15,451|1,507|18,842|
|Depreciation||663|165|6,794|663|8,286|
|||22,976|5,744|235,498|22,976|287„194|
||should
n|ot|be classified as empl|be classified as empl|oyees.|||
|---|---|---|---|---|---|---|---|
|8|Analysis||ofstaff costs, trustee||remuneration|and expenses and the cost of key management|personnel|
|||||||2020|2019|
||||||||F|
||Salaries|and wages||||246,296|214,877|
||Employer's||National|Insurance||20,381|17,806|
||Pension|contributions||to defined|benefit schemes|60,681|51,858|
|||||||326,367|284,541|
##
##
##
##
##
##
##
|11|Fixed asset Investments|Fixed asset Investments||Investment|Listed|Balances at|Concessionary||
|---|---|---|---|---|---|---|---|---|
|||||properties|investments|stockbroker|loans|Total|
||Market value|||||6|||
||At 1 January 2020|||477,626|6,814,349|14,055|20,121|7,326,161|
||Less:||||||||
||Disposals at opening|book value|||(1,670,356)|||(1,670,356)|
||Deposits realised/(reinvested)|||||27,399||27,399|
||Investment
management||fees|||(27,673)||(27,673)|
||Loan repayments||||||(9,971)|(9,971)|
||Add:||||||||
||Deposited
for investment||||||||
||Acquisitions
at cost||||1,429,178||2,000|1,431,178|
||Revaluation||||105,778|||106,778|
||At 31 December 2020|||477,626|6,678,949|13,781|12,160|7,182,506|
||Historical cost||||||||
||At 31 December 2020||||5,693,076|13,781|12,150|6,706,857|
||Disposals:||||||||
||Proceeds||||1,456,576|||1,456,576|
||Book value at 1 Jan 2020||||(1,670,356)|||(1,670,356)|
||Gain
/ (loss)||||(213,780)|||(213,780)|
|listed investmen|ts
are as follows:|||
|---|---|---|---|
|||2020|2019|
||||E|
|Equity investments||1„903,728|2,179,543|
|Gilt-edged
and|fixed interest stocks|404,089|578,543|
|Investment
and|unit trusts|4„371,131|4,056,263|
|||6,678,948|6,814,349|
|Material
investments
(over 5% by value) at the end ofthe year:||||
|Baillie Gifford American
W1 Dis||463,446|0|
|JP Morgan
US|Equity Income K|279,885|361,965|
|North American|Income Trust|256,726|355,095|
|Concesslonary|loans|falling|due|within|one|year|||7,861|9,971|
|---|---|---|---|---|---|---|---|---|---|---|
|Concessionary|loans|falling|due|after|more|than|one|year|4,288|10,150|
||||||||||12,150|20,121|
##
##
##
|Debtors|||||2020|2019|
|---|---|---|---|---|---|---|
|||||||F|
|Amounts|owed by group and associated|||undertakings:|||
|Yorkshire|Congregational||Union (Incorporated)||5,268|4,158|
|Cash
in transit||from YCU|(Inc)||416|138,529|
|Prepayments||and accrued income|||23,830|22,882|
||||||29,614|165,569|
##
|14|Creditors: amounts|falling due within one year|2020|2019|
|---|---|---|---|---|
||Accruals for grants payable||210,275|145,208|
||Accruals and deferred|income|20,383|13,359|
||Other creditors||7,210|115,417|
||||237,868|273,984|
|16|Creditors: amounts|falling due after more than one year|2020|2019|
||Accruals for grants payable||222,004|136,676|
##
|16|Movement
in funds during|Movement
in funds during|the|year||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Balance|||Transfers||Balance|
||||1|January|Incoming|Outgoing|between|Revaluation|31 December|
|||||2020|resources|resources|funds|gains/losses|2020|
||Permanent
endowments|||||||||
||General Purposes|||759,887||(3,061)||(9,699)|747,127|
||Church
Extension|||257,537||(1,045)||(3,329)|263,163|
||Maintenance
of Ministry|||18,154||(74)||(235)|17,845|
||Welfare of Ministry|||77,802||(315)||(1,006)|76,481|
||Home Churches|||19,395||(79)||(250)|19,066|
||||1,132,775|||(4,574)||(14,519)|1,113,682|
||Restricted funds|||||||||
||Closed Churches|capital|7,068,252||110,121|(174,283)||(93,483)|6,910,607|
||Closed Churches|||||||||
||revaluation
reserve|||63,852||||113,182|177,034|
||Synod Mission|||||||||
||capital and income|||511,888|257,134|(221,381)|||647,641|
||Income funds|||||||||
||Church
Extension|||378,280|11,000||||389,280|
||Maintenance
of Ministry||||612||(612)|||
||Welfare|||9,741|2,803||(2,500)||10,044|
||Home Churches|||1,379|656|(830)|||1,206|
||||8,033,392||382,326|(396,494)|(3,112)|19,699|8,035,811|
||Unrestricted
Funds|||||||||
||General
income|||151,037|92,162|(464,618)|286,157||64,738|
||Designated
funds|(note18)||81,200|||(81,200)|||
||Closed Churches|income|||217,724|(18,837)|(198,887)|||
||Albion-|||||||||
||capital and income|||2,958|||(2,958)|||
|||||235,195|309,886|(483,455)|3,112||64,738|
||Total Funds||9,401,362||692,212|(884,523)||5,180|9,214,231|
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