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2021-03-31-accounts

Page
Trustees'
report
Independent auditors' report on the financial statements
Consolidated statement offinancial activities
Consolidated balance sheet
Charity balance sheet 10
Consolidated statement ofcash flows
Notes to the financial statements 12-37

Trustees J Dibdin, Trustee
Mrs C R Barnett, Trustee
I H Davey, Trustee
Charity registered
number 1069985
Principal office The Ice House
Victor Street
Grimsby
N E Lincolnshire
DN32 7QN
Independent auditors Pelham Accountants 2019 Limited
Statutory
Auditors
16 Dudley Street
Grim sby
North East Lincolnshire
DN31 2AB
Bankers National
Westminster		 Bank
501 Silbury Road
Central
Melton Keynes
MK9 3ER

Unrestricted Total Total
funds funds funds
2021 2021 2020
Note E F
Income from:
Donations
and		 legacies 107,000 107,000
Other trading
activities		 1,151,413 1,151,413 1,874,759
Investments 37 37 128
Other income 67 67 153
Total income 1,258,517 1,258,517 1,875,040
Expenditure
on:
Raising funds 731,983 731,983 1,392,614
Charitable
activities		 289,153 289,153 476,074
Total expenditure 1,021,136 1,021,136 1,868,688
Net movement in funds before other recognised
gains/(losses) 237,381 237,381 6,352
Other recognised gains/(losses):
Losses on revaluation of fixed assets (60,568) (60,568)
Net movement in funds 176,813 176,813 6,352
Reconciliation of funds:
Total funds
brought		 forward 4,855,530 4,855,530 4,849,178
Net movement in funds 176,813 176,813 6,352
Total funds carried forward 5,032,343 5,032,343 4,855,530

Note 2021f 2020f
Fixed assets
Tangible assets 15 30,929 41,60/
Investment
property		 16 7,254,000 6,254,000
7,284,929 6,295,601
Current assets
Stocks 18 650
Debtors 19 318,401 472,915
Cash at bank and in hand 116,863 359,028
435,914 831,943
Creditors: amounts falling due within one
year 20 (1,403,876) (968, l97)
Net current
liabilities		 (967,962) (136,254)
Total assets less current liabilities 6,316,967 6, l59,347
Creditors: amounts falling due after more
than one year 21 (1,129,235) (1,129,235)
Provisions
for liabilities		 24 (155,389) (174,582)
Net assets excluding pension asset 5,032,343 4,855,530
Total net assets 5,032,343 4,855,530
Charity funds
Restricted
funds		 25
Unrestricted
funds		 25 5,032,343 4,855,530
Total funds 5,032,343 4,855,530

2021 2020
F
Cash flows from operating activities
Net cash used
in operating		 activities 421,906 272,210
Cash flows from investing activities
Dividends,
interests
and rents from investments		 37 128
Purchase
of tangible
fixed assets		 (1,060,568) (39,146)
Net cash used
in investing		 activities (1,060,531) (39,018)
Cash flows from financing activities
Cash inflows
from new borrowing		 460,100
Repayments
of borrowing		 (72,962) (19,172)
Amounts
introduced
by Directors		 9,322 517
Net cash provided
by/(used
in) financing		 activities 396,460 (18,655)
Change
in cash and cash		 equivalents in the year (242,165) 214,537
Cash and cash equivalents at the beginning of the year 359,028 144,491
Cash and cash equivalents at the end of the year 116,863 359,028

Plant and machinery 25% reducing balance
Computer equipment 33% straight line

Unrestricted Total Total
funds funds funds
2021 2021 2020
E E
107,000 107,000

Unrestricted Total
funds funds
2021f 2021f
Sales 1,027,941 1,027,941
Government grants receivable 123,472 123,472
1,151,413 1,151,413
Unrestricted Total
funds funds
2020 2020
Sales 1,874,759 1,874,759
Unrestricted Total
funds funds
2021f 2021f
Deposit account interest 37 37
Unrestricted Total
funds funds
2020 2020
Deposit account interest 128 128

Unrestricted Total
funds funds
2021f 2021
Other operating income 67 67
Unrestricted Total
funds funds
2020 2020
Other operating income 153 153

Unrestricted Total
funds funds
2021f 2021f
Cost ofsales 49,378 49,378
Administration expenses 407,969 407,969
Interest payable 28,407 28,407
Cost ofsales staff costs 110,374 110,374
Administration staff costs 125,183 125,183
Administration depreciation 10,672 10,672
731,983 731,983

Unrestricted Total
funds funds
2020 2020
Cost ofsales 91,797 91,797
Administration expenses 1,033,704 1,033,704
Interest payable 7,981 7,981
Cost ofsales staff costs 123,971 'I23,971
Administration staff costs 133,072 133,072
Administration depreciation 2,089 2,089
1,392,614 1,392,614

Grants to Total
Institutions funds
2021 2021
F F
Grants, Promotion of the Christian Faith 199,725 199,725
Grants to Total
Institutions funds
2020 2020
Grants, Promotion of the Christian Faith 395,725 395,725

Analysis ofgrants (con tinued )
2021f 2020
Name of institution
Christian
Centre (Humberside)		 Limited 180,500 376,500
The ice House Christian Bookshop Limited 18,000 18,000
Evangelical
Library		 25 25
PA 8 NE Carr 1,200 1,200
199,725 395,725

Unrestricted Total
funds funds
2021 2021
F
Promotion ofthe Christian Faith 289,153 289,153
Unrestricted Total
funds funds
2020 2020
Promotion ofthe Christian Faith 476,074 476,074

Grant
funding
of		 Support Total
activities costs funds
2021f 2021
E		 2021
Promotion of the Christian Faith 199,725 89,428 289,153

Grant
funding
ot		 Support Total
activities costs funds
2020 2020 2020
395,725 80,349 476,074

Promotion
ofthe
Christian Total
Faith funds
2021 2021
F f,
Bank charges 63 63
Other operating leases 29,826 29,826
insurance 852 852
Subcontract administration staff 6,656 6,656
Governance costs 52,031 52,031
89,428 89,428
Promotion
ot
the Christian Total
Faith funds
2020 2020
Bank charges 77 77
Other operating leases 20,183 20,183
Insurance 154 154
Governance costs 59,935 59,935
80,349 80,349

2021 2020
Fees payable to the Charity's auditor and its associates for the audit of the
Charity's annual accounts 4,500 4,500

Group Group
2021 2020
E
Wages and salaries 198,927 222,101
Social security costs 14,328 13,942
213,255 236,043
Group Group
2021 2020
No. No.

2021 2020
Mrs C R Barnett Remuneration 22,302 21,000
I H Davey Remuneration 14,719 13,860

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
14. Intangible assets
Group
Goodwill
Cost
At 1 April 2020 16,213
At 31 March 2021 16,213
Amortisation
At 1 April 2020 16,213
At 31 March 2021 16,213
Net book value
At 31 March 2021
At 31 March 2020

Plant and Computer
machinery
f		 equipment
f		 Totalf
Cost or valuation
At 1 April 2020 44,290 1,997 46,287
At 31 March 2021 44,290 1,997 46,287
Depreciation
At 1 April 2020 4,241 445 4,686
Charge for the year 10,013 659 10,672
At 31 March 2021 14„254 1,104 15,358
Net book value
At 31 March 2021 30,036 893 30,929
At 31 March 2020 40,049 1,552 41,601
16. Investment property
Group
Freehold
investment
propertyf
Valuation
At 1 April 2020 6,254,000
Additions 1,060,568
Deficit on revaluation (60,568)
At 31 March 2021 7,254,000

2021
F
Valuation in 2017 1,020,968
Valuation in 2018 (10,000)
Valuation in 2019 128,655
Valuation in 2021 (60,568)
Cost at 2021 6,174,945
7,254,000

Investments
in
subsidiary
companies
Charity F
Cost or valuation
At 1 April 2020 860,500
Revaluations (45,500)
At 31 March 2021 815,000
Net book value
At 31 March 2021 815,000
At 31 March 2020 860,500
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18. Stocks
Group Group
2021 2020
F
Raw materials and consumables 650
19. Debtors
Group Group Charity Charity
2021 2020 2021 2020
F F
Due within one year
Trade debtors 69,180 70,428
Amounts
owed by group undertakings		 4,357,307 4,101,468
Other debtors 181,110 300,835 8,977
Prepayments and accrued income 60,252 101,652 245 40,147
Tax recoverable 7,859
318,401 472,915 4,357,552 4,150,592
20. Creditors: Amounts Amounts falling due within one year
Group Group Charity Charity
2021 2020 2021 2020
F F
Bank loans 460,100 72,962
Trade creditors 424,963 490,017 37,396
Corporation tax 109,293 97,020
Other taxation and social security 108,652 70,148 8,992
Other creditors 188,131 159,617 108,142 139,403
Accruals and deferred income 112,737 78,433 12,751 2,815
1,403,876 968,197 129,885 179,614

Group Group
2021 2020
E
1,129,235 1,129,235

2021 2020
Bank loans 460,100 72,962
460,100 72,962

Group Group
2021 2020
Deferred income brought foward 1,129,235 1,129,235
Release to profit and loss account
1,129,235 1,129,235

Deferred taxatio n
Group
2021
E
At the beginning of the year 174,582
Credit for the year (19,193)
155,389

Group Group
2021 2020
E
(155,389) (174,582)
(155,389) (174,582)

Stateme nt
o		 ffunds - curren t year
Balance at
Balance at 1 Gains/ 31 March
April 2020f Income
f		 Expenditure f (Losses)
f		 2021
f
Unrestricted funds
General Funds - all funds 4,855,530 1,258,517 (1,021,136) (60,568) 5,032,343

Stateme nt
o		 ffunds
- prior year
Balance at
Balance at 31 March
1 April 2019 Income Expenditure 2020f
Unrestricted funds
General Funds - all funds 4,849,178 1,875,040 (1,868,688) 4,855,530

Summar y
offunds
-c		 urrent year
Balance at
Balance at 1 Gains/ 31 IVlarch
April 2020f Income
f		 Expenditure (Losses)
f		 2021
f
General funds 4,855,530 1,258,517 (1,021,136) (60,568) 5,032,343
Summar y
offunds
- prior yea		 r
Balance at
Balance at 31 March
1 April 2019 Income Expendituref 2020f
General funds 4,849,178 1,875,040 (1,868,688) 4,855,530

27. Analysis of net assets of net assets of net assets between funds
Analysis of net assets between funds -current year
Unrestricted Total
funds funds
2021 2021
Tangible fixed assets 30,929 30,929
Investment property 7,254,000 7,254,000
Current assets 4,788,521 4,788,521
Creditors due within one year (5,756,483) (5,756,483)
Creditors due in more than one year (1,129,235) (1,129,235)
Provisions for liabilities and charges (155,389) (155,389)
Total 5,032,343 5,032,343
Analysis of net assets between funds - prior year
Unrestricted Total
funds funds
2020 2020
Tangible fixed assets 41,601 41,601
Investment property 6,254,000 6,254,000
Current assets 831,943 831,943
Creditors due within one year (968,197) (968,197)
Creditors due in more than one year (1,129,235) (1,129,235)
Provisions for liabilities and charges (174,582) (174,582)
4,855,530 4,855,530

Group Group
2021 2020
E
Net income for the year (as per Statement of Financial Activities) 237,381 6,352
Adjustments for:
Depreciation charges 10,672 2,089
Dividends, interests and rents from investments (37) (128)
Increase in stocks (650)
Decrease in debtors 162,373 353,573
Increase/(decrease) in creditors 26,946 (184,599)
Taxation (14,779) 94,923
Net cash provided by operating activities 421,906 272,210
Group Group
2021 2020
F
Cash in hand 483 483
Notice deposits (less than 3 months) 116,380 358,545
Total cash and cash equivalents 116,863 359,028
Analysis ofchanges in net debt
At 1 April At 31 March
2020 Cash flows 2021
F
Cash at bank and in hand 359,028 (242,165) 116,863
Debt due within 1 year (95,439) (396,460) (491,899)
263,589 (638,625) (375,036)

under non- ca ncell able op eratin g
le		 ase s as follow s:
Group Group Charity Charity
2021 2020 2021 2020
F
Later than 1 year and not later than 5 years 40,495 63,635 40,495 63,635

2021 2020
F
Donations received 107,000
Donations made 180,500 376,500
Sales 64,863 236,932
Rents payable 29,826 20,183
Accrued income at year end 2,851 8,210
Loan outstanding
to Christian		 Centre (Humberside) Limited at year end 125,141 107,035
Trade creditors at year end 6,055

2021 2020
F
Donations made 18,000 18,000

2021f 2020
Sales 5,623
Purchases 16,007
Bad debt provision 270,000
Trade creditors outstanding at year end 270,000 270,000
Loan outstanding to T P Dibdin Limited at year end 200 200
2021 2020
F
Loan outstading to Mr Dibdin at year end 31,799 22,477
2021 2020
Sales 437
Purchases 12,394
Management charges payable 58,800
Consultancy 118,892
Commissions payable 57,650
Trade debtors outstanding at year end 15,000 140
Trade creditors outstanding at year end 94,755 18,830
Loan oustanding from J 8 VA Dibdin Limited at year end 157,090 147,530

2021 2020
F
Sales 2,352
Rents payable 38,707 59,481

2021 2020
F E
Bad debt provision 10,450 800
2021f 2020
Bad debt provision 9,050 27,400
2021 2020
Sales 1,500
Bad debt provision 33,000
Loan oustanding to lmmingham Port Storage at year end 4,500 4,500

2021 2020
E
Sales 2 722 9,752
Purchases 2,083 2,083
Trade debtors at year end 1,752
Trade creditors at year end 450
Loan outstanding to IIE Management Limited at the year end 2,264 2,264

2021 2020
Consultancy 18,000 19,800
Trade debtors outstanding at year end 1,800
Trade creditors outstanding at year end 3,600
Accruals at year end 1,500

2021 2020
F
Consultancy 19,500
Accruals oustanding at year end 1,500
The Estate of T P 8, D Dibdin
Estate of the parents of Mr J Dibdin 8 Mrs C Barnett.
During the year, the group entered into the following transactions with the estate of T P & D Dibdin.
2021f 2020
Bad debt provision 16,952
Loan oustanding to T. P. Dibdin 11,483 11,483