||||Page|| |---|---|---|---|---| |Reference and Administrative
Details||||| |Report ofthe Trustees||2|to|6| |Report ofthe Independent
Auditors||7|to|10| |Consolidated
Statement ofFinancial|Activities|||| |Consolidated
Balance Sheet|||12|| |Charity Balance Sheet|||13|| |Consolidated
Cash Flow Statement|||14|| |Notes to the Consolidated
Cash Flow|Statement||15|| |Notes to the Financial Statements||16|to|32| |Trustees|||Mr BJ Sweeney (resigned 24/6/2021)|Mr BJ Sweeney (resigned 24/6/2021)|Mr BJ Sweeney (resigned 24/6/2021)|Mr BJ Sweeney (resigned 24/6/2021)|| |---|---|---|---|---|---|---|---| ||||Mr M Thompson||||| ||||Mr N Wrigley||||| ||||Rev S S Abel Boanerges (resigned|||11/2/2022)|| ||||Rev A RWadsworth||||| ||||Mrs N LFirth (appointed
10/12/2021)||||| |Company|secretary||Mrs JA Burrows||||| |Registered|office||Capernwray
Hall||||| ||||Capernwray||||| ||||CARNFORTH||||| ||||LA6 IAG||||| |Registered|company|number|03573958(England|and|Wales)||| |Registered|charity number||1073139||||| |Auditors|||Xeinadin Audit Limited||||| ||||Chartered
Accountants||and Statutory||Auditors| ||||Dalton House||||| ||||9Dalton Square||||| ||||LANCASTER||||| ||||LA1 1WD||||| |Accountants|||Scott dc Wilkinson||||| ||||Dalton House||||| ||||9Dalton Square||||| ||||LANCASTER||||| ||||LA1 IWD||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||2022|2021| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|Total|Total| |||||fund|funds|funds|funds| ||||Notes|f.|||| |Income and endowments||from|||||| |Donations
and legacies|||2|204,229|24,592|228,821|387,442| |Charitable
activities|||||||| |Bible schools, courses|and|conferences||1,222,209|4,655|1,226,864|679,953| |Investment
income
Other income|||3|1,976
87,740||1,976
87,740|4,030
~68 647| |Total||||1,516,154|29,247|1,545,401|1,140,072| |Expenditure
on|||||||| |Raising funds|||5|39,736||39,736|25,572| |Charitable
activities|||6||||| |Bible schools, courses|and|conferences||1,621,544|4,972|1,626,516|1,360,533| |Outreach|||||||89| |Other||||108,758||108,758|69,334| |Total||||1770038|4972|1775 D1D|1,455,528| |NET INCOME/(EXPENDITURE)||||(253,884)|24,275|(229,609)|(315,456)| |Transfers between
funds|||21|4,680|~4,680)||| |Other recognised
gains/(losses)|||||||| |Actuarial
gains/(losses)|on|defined benefit|||||| |schemes||||143 5DD||143,500|~265 000)| |Net movement
in funds||||(105,704)|19,595|(86,109)|(580,456)| |Reconciliation
offunds|||||||| |Total funds brought|forward|||4,950,458|66,695|5,017,153|5,597,609| |Total funds carried forward||||4 844 754|86 290|4,931,044|5 017 153| ## ## |||||||||||||2022||2021| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||Unrestricted||Restricted||Total||Total| |||||||||fund||funds||funds||funds| ||||||||Notes|||||||8| |Fixed assets||||||||||||||| |Tangible|assets||||||12|4,642,323||||4,642,323|4,787,684|| |Investments|||||||13|13,124||||13,124||11,340| |||||||||4,655,447||||4,655,447|4,799,024|| |Current|assets|||||||||||||| |Stocks|||||||14|58,318||||58,318||52,043| |Debtors|||||||15|75,485||||75,485||138,800| |Cash at bank||and in|hand|||||~846 982||86,290||933,272||513,258| |||||||||980,785||86,290||1,067,075||704,101| |Creditors||||||||||||||| |Amounts|falling due within one year||||||16|(457,447)||||(457,447)|(322,972)|| |Net current||assets||||||523 338||86,290||609,628||381,129| |Total assets||less current||liabilities||||5,178,785||86,290||5,265,075|5,|180,153| |Creditors||||||||||||||| |Amounts|falling due after|||more than|one year||17|(334,031)||||(334,031)||| |Pension liability|||||||||||||(163,000)|| |NET ASSETS||||||||4,844 754||86|290|4,931,044|5,~ 17,153|| |Funds|||||||21|||||||| |Unrestricted||funds||||||||||4,844,754|4,950,458|| |Restricted|funds|||||||||||86 29D||66 695| |Total funds||||||||||||4 931044|5|D17 153| |Th 0
and were|11
t
pp
signed on its behalf by;||||dhyth|0|d fT|d|th|1 df|i|...7,!!!(,
.4,.||| ## ## ||||||||2022|2021| |---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted|Total|Total| ||||||fund|funds|funds|funds| |||||Notes||||| |Fixed assets||||||||| |Tangible assets||||12|4,639,504||4,639,504|4,787,197| |Investments||||13|199,125||199,125|11,341| ||||||4,838,629||4,838,629|4,798,538| |Current
assets||||||||| |Stocks||||14|58,318||58,318|51,943| |Debtors||||15|87,480||87,480|150,879| |Cash at bank|and in hand||||816,267|86,290|902,557|484,550| ||||||962,065|86,290|1,048,355|687,372| |Creditors||||||||| |Amounts
falling due within|||one year|16|(622,047)||(622,047)|(321,378)| |Net current|assets||||340,038|86 290|426 308|363994| |Total assets|less current|liabilities|||5,178,647|86,290|5,264,937|5,164,532| |Creditors||||||||| |Amounts
falling due atter||more than one year||17|(334,031)||(334,031)|| |Pension liability||||22||||(163,000)| |NET ASSETS|||||4 844 616|86,290|4,930,906|5,001,532| |Funds||||21||||| |Unrestricted|funds||||||4,844,616|4,934,837| |Restricted funds|||||||86,290|66,695| |Total funds|||||||4,930,906|5,001,532| ## |||||2022|2021| |---|---|---|---|---|---| ||||Notes||| |Cash flows from operating|activities||||| |Cash generated
I'rom operations||||89,441|(326,005)| |Interest paid||||~9,347|| |Net cash provided
by/(used|in) operating||activities|80,094|(326,005)| |Cash flows from investing|activities||||| |Purchase oftangible
fixed assets||||(14,548)|| |Purchase offixed asset investments||||(1,784)|| |Sale oftangible
fixed assets
Interest received||||4,276
~1976|1,833
4,030| |Net cash (used in)/provided|by investing||activities|~10,080)|5,863| |Cash flows from financing|activities||||| |New loans in year||||350,000|| |Net cash provided
by financing
activities||||350,000|| |Change
in cash and cash equivalents||in|||| |the reporting
period||||420,014|(320,142)| |Cash and cash equivalents|at the||||| |beginning
ofthe reporting|period|||513,258|833,400| |Cash and cash equivalents|at the end|of|||| |the reporting
period||||933,272|513,258| ## ||||||||||2022|2021| |---|---|---|---|---|---|---|---|---|---|---| |Net expenditure|for||the reporting||||period (as per the Statement|of||| |Financial Activities)|||||||||(234,583)|(315,456)| |Adjustments
for:||||||||||| |Depreciation
charges|||||||||158,866|160,049| |Profit on disposal|of||fixed assets||||||(3,232)|(1,830)| |Interest received|||||||||(1,976)|(4,030)| |Interest paid|||||||||9,347|| |Gain on acquisition|||||||||4,973|| |Increase in stocks|||||||||(6,275)|(6,835)| |Decrease/(increase)||in debtors|||||||63,315|(94,271)| |Increase in creditors|||||||||118,506|38,368| |Difference between||pension charge|||||and cash contributions||~19,500)|(102,000)| |Net cash provided||by/(used||||in) operations|||89,441|(326,005)| |Analysis ofchanges|||in|net funds||||||| |||||||||At I/4/21|Cash flow|At 31/3/22| |Net cash||||||||||| |Cash at bank and|in|hand||||||513,258|420,014|933,272| |||||||||513,258|420,014|~933 272| |Debt||||||||||| |Debts falling due|within||||1 year||||(15,969)|(15,969)| |Debts falling dne|after|||1|year||||~334031|~334,031| ||||||||||~350,000|~350,000| |Total||||||||513,258|70,014|583,272| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Investment
income|Investment
income|||||| |---|---|---|---|---|---|---| ||||||2022|2021| |Deposit account interest|||||192|4,030| |Interest &om|investments||||1 784|| ||||||1,976|4,030| |Income from|charitable||activities|||| ||||||2022|2021| ||||Activity|||| |Literature
and merchandise|||Bible schools,|courses and conferences|39,350|10,268| |Bible schools, courses and||||||| |conferences|||Bible schools,|courses and conferences|1,108,914|388,117| |Outreach
income|||Bible schools,|courses and conferences|300|| |Grants|||Bible schools,|courses and conferences|1,691|182,104| |Other income|||Bible schools,|courses and conferences|71,954|90,639| |Conference
fund gifts|||Bible schools,|courses and conferences||110| |Student fund|gifts||Bible schools,|courses and conferences|4,655|8,715| ||||||1,226,864|~679953| |Grants received, included|||in the above, are as|follows:||| ||||||2022|2021| |Government|grants||||1,691|182,104| |Raising funds||||||| |Raising donations||and legacies||||| ||||||2022|2021| |Staffcosts|||||26,576|22,256| |Purchases||||||9| |Advertising|||||13,160|3,307| ||||||39,736|25,572| |6.|Charitable|activities costs||||| |---|---|---|---|---|---|---| ||||||Support|| |||||Direct|costs (see|| |||||Costs|note 7)|Totals| ||Bible schools, courses and conferences|||1,488,507|138,009|~1,626 516| |7.|Support costs|||||| ||||||Governance|| ||||Finance|Other|costs|Totals| ||Bible schools, courses and conferences||23,743|96,396|17,870|138,009| ## ## ## ## |||||2022|2021| |---|---|---|---|---|---| |Auditors'||remuneration||13,566|12,745| |Depreciation
-owned assets
Surplus
on disposal offixed assets||||158,866
~3,233)|160,049
~1,830)| |Trustees'||remuneration|and benefits||| |||||2022|2021| |Trustees'||salaries||596|425| ## |||2022|2021| |---|---|---|---| |Wages|and salaries|653,498|639,294| |Social|security costs|32,191|41,479| |Other|pension costs|55,113|~52 545| |||740,802|733,318| |The average|monthly
number ofemployees
during the yea|r was as follows:|| |---|---|---|---| |||2022|2021| |Course and|conference staff|29|31| |Management|and administration|4|4| |||33|35| |Comparatives
for th|e stat|ement offinancial activiti|es||| |---|---|---|---|---|---| ||||Unrestricted|Restricted|Total| ||||fund|funds|funds| |Income and endowments||from|||| |Donations
and legacies|||329,965|57,477|387,442| |Charitable
activities|||||| |Bible schools, courses|and|conferences|671,128|8,825|679,953| |Investment
income|||4,030||4,030| |Other income|||68,647||68,647| |Total|||~1073770|66302|1 140072| |Expenditure
on|||||| |Raising funds|||25,572||25,572| |Charitable
activities|||||| |Bible schools, courses|and|conferences|1,349,469|11,064|1,360,533| |Outreach|||89||89| |Other|||68,921|413|69,334| |Total|||1,444,051|11,477|1,455,528| |NET INCOME/(EXPENDITURE)|||(370,281)|54,825|(315,456)| |Other recognised
gains/(losses)|||||| |Actuarial
gains/(losses)|on|defined benefit|||| |schemes|||~265,000)||ii65.000)| |Net movement
in funds|||(635,281)|54,825|(580,456)| |Reconciliation offunds|||||| |Total funds brought|forward||5,585,739|11,870|5,597,609| |Total funds carried forward|||4,950,458|66,695|5,017,153| ## ## |roup||||| |---|---|---|---|---| ||||Fixtures|| ||Freehold|Plant and|and|| ||property|machinery|fittings|Totals| |Cost||||| |At 1 April 2021|6,683,250|76,260|219,069|6,978,579| |Additions
Disposals|8,813|3,900
~4.400)|1,835|14,548
(4,400)| |At 31 March 2022|~6692 063|75,760|220,904|6,988,727| |Depreciation||||| |At
1 April 2021|1,952,560|68,680|169,655|2,190,895| |Charge for year|146,010|2,608|10,248|158,866| |Eliminated
on disposal||(3,357)||(3,357)| |At 31 March 2022|2,098,570|~67 931|179,903|2,346,404| |Net book value||||| |At 31 March 2022|4 593.493|7,829|41,001|4,642,323| |At 31 March 2021|4 73069D|7 580|49 414|4,787,684| |Charity||||| ||||Fixtures|| ||Freehold|Plant and|and|| ||property|machinery|fittings|Totals| |Cost||||| |At 1 April 2021|6,683,250|61,760|219,069|6,964,079| |Additions
Disposals|5,541|3,900
~4.400)|1,835|11,276
~4,400)| |At 31 March 2022|6,688,791|61,260|220,904|6,970,955| |Depreciation||||| |At 1 April 2021|1,952,560|54,667|169,655|2,176,882| |Charge for year
Eliminated
on disposal|145,192|2,486
~33,,**35**77)|10,248
~|157,926
~3333**5**77)| |At 31 March 2022|2,097,752|53,796|179,903|2,331,451| |Net book value||||| |At 31March 2022|4,591,039|7,464|41,001|~,639,5D4| |At 31March 2021|4,73D,690|7093|49414|4,787,197| ## |Fixed asset investments||||| |---|---|---|---|---| |Group||||| ||||Unlisted|| ||||investments|Totals| |Market value||||| |At 1 April 2021|||11,340|11,340| |Additions|||1,784|1,784| |At 31 March 2022|||13,124|13,124| |Net book value||||| |At 31 March 2022|||13,124|13,124| |At 31 March 2021|||11,340|11,340| |Charity||||| ||Shares|in||| ||group||Unlisted|| ||undertakings||mvestments|Totals| |Market value||||| |At
1 April 2021||1|11,340|11,341| |Additions|186,000||1,784|187,784| |At 31March 2022|186,001||13,124|199,125| |Net book value||||| |At 31 March 2022|186,001||13,124|199,125| |At 31 March 2021|||11,340|11,341| ## |14.|Stocks|||||| |---|---|---|---|---|---|---| ||Group|||||| ||||||2022|2021| ||Stocks for resale||||16,915|13,228| ||Raw materials||||41,403|38,815| ||||||58,318|52,043| ||Charity|||||| ||||||2022|2021| ||Stocks for resale||||16,915|13,228| ||Raw materials||||41,403|38,715| ||||||58,318|51,943| |15.|Debtors: amounts||falling due within|one year||| |Group||||||| ||||||2022|2021| ||Other debtors||||69,156|120,458| ||Prepayments|and accrued income|||6,329|18,342| ||||||75,485|138,800| ||Charity|||||| ||||||2022|2021| ||Other debtors||||81,151|132,537| ||Prepayments|and accrued income|||~6329|18,342| ||||||87,480|~150879| ## |Group||||| |---|---|---|---|---| ||||2022|2021| |||||g| |Bank loans and overdrafts||(see note 18)|15,969|| |Trade creditors|||45,693|34,180| |Social security and other||taxes|9,362|11,070| |VAT|||6,613|2,823| |Other creditors|||19,508|42,441| |Accrued expenses|||23,244|22,200| |Pension contributions|accrual||6,975|6,184| |Deferred income|||~330 083|204,074| ||||457,447|322,972| |Charity||||| ||||2022|2021| |Bank loans and overdraits||(see note 18)|15,969|| |Trade creditors|||45,693|34,156| |Social security and other||taxes|9,362|11,070| |VAT|||6,613|2,823| |Other creditors|||187,358|42,441| |Accrued expenses|||19,994|20,630| |Pension contributions|accrual||6,975|6,184| |Deferred income|||330,083|204,074| ||||622,047|321,378| |Creditors: amounts|falling due after more than one year|||| |Group||||| ||||2022|2021| |||||g| |Bank loans (see note|18)||334,031|| |Charity||||| ||||2022|2021| |Bank loans (see note|18)||334,031|| ## |18.|Loans||||||| |---|---|---|---|---|---|---|---| ||An analysis ofthe maturity ofloans is given below:||||||| ||Group||||||| |||||||2022|2021| ||Amounts
falling due within one year on||demand:||||| ||Bank loans|||||15,969|| ||Amounts
falling between|one and five years:|||||| ||Bank loans|||||90,082|| ||Amounts
falling due in more than five years:||||||| ||Repayable
by instalments:||||||| ||Bank loans|||||243,949|| ||Charity||||||| |||||||2022|2021| ||Amounts
falling due within one year on||demand:||||| ||Bank loans|||||15,969|| ||Ainounts
falling between|one and five years:|||||| ||Bank loans|||||90,082|| ||Ainounts
falling due in more than five years:||||||| ||Repayable
by instalments:||||||| ||Bank loans|||||243,949|| |19.|Leasing agreements||||||| ||Minimum
lease payments|under non-cancellable||operating|leases fall due as fofiows:||| |||||||2022|2021| ||Within one year|||||13,034|33,659| ||Between one and five years|||||52,137|52,137| ||In more than five years|||||6,517|19,551| |||||||71,688|~105 347| |20.|Secured debts||||||| ||The following
secured debts are included||within|creditors:|||| |||||||2022|2021| |||||||0|| ||Bank loans|||||350,000|| ## |Movement
in fun|ds|||||| |---|---|---|---|---|---|---| |||||Net|Transfers|| |||||movement|between|At| ||||At I/4/21|in funds|funds|31/3/22| |||||||8| |Unrestricted
funds||||||| |General
fund|||4,950,458|(115,358)|4,680|4,839,780| |Restricted
funds||||||| |Sponsored student|fund||22,681|3,344||26,025| |Sponsored conference||fund|6,798|||6,798| |Library books|||3,945|1,153||5,098| |Platinum
Jubilee Fund|||31,272|19,688|(4,680)|46,280| |Sports equipment|fund||1,099|||1,099| |Staff fund|||900|(900)||| |Main house maintenance||||990||990| ||||~66 695|~24 275|4,680|86,290| |TOTAL FUNDS|||5 017,153|~9).083)||4,926,070| |Net movement
in|funds, included||in the above are as follows:|||| ||||Incoming|Resources|Gains and|Movement| ||||resources|expended|losses|in funds| |||||8||| |Unrestricted
funds||||||| |General
fund|||1,511,180|(1,770,038)|143,500|(115,358)| |Restricted
funds||||||| |Sponsored
student|fund||4,724|(1,380)||3,344| |Library books|||2,000|(847)||1,153| |Platinum
Jubilee|Fund||21,533|(1,845)||19,688| |Staff fund||||(900)||(900)| |Main house maintenance|||990|||990| ||||29,247|4,972||~24 275| |TOTALFUNDS|||1,540,437|J1 775,010)|143,500|~9),083)| ## |Comparatives
for|Comparatives
for|movement|movement|movement|in funds||||| |---|---|---|---|---|---|---|---|---|---| |||||||||Net|| |||||||||movement|At| ||||||||At I/4/20|in funds|31/3/21| ||||||||g||| |Unrestricted
funds|||||||||| |General fund|||||||5,585,739|(635,281)|4,950,458| |Restricted
funds|||||||||| |Sponsored
student||fund|||||531|22,150|22,681| |Sponsored conference|||fund||||6,688|110|6,798| |Library books|||||||3,699|246|3,945| |Platinum
Jubilee|Fund|||||||31,272|31,272| |Sports equipment|fund||||||952|147|1,099| |Staff fund||||||||900|900| ||||||||11,870|~54 825|~66695| |TOTAL FUNDS|||||||~5597609|~580456)|~5,017 153| |Comparative
net movement||||in|funds, included|in the above are as follows:|||| |||||||Incoming|Resources|Gains and|Movement| |||||||resources|expended|losses|in funds| |Unrestricted
funds|||||||||| |General fund||||||1,073,770|(1,444,051)|(265,000)|(635,281)| |Restricted
funds|||||||||| |Sponsored
student|fund|||||31,396|(9,246)||22,150| |Sponsored conference fund||||||110|||110| |Library books||||||2,000|(1,754)||246| |Platinum
Jubilee Fund||||||31,336|(64)||31,272| |Sports equipment|fund|||||560|(413)||147| |Staff fund||||||900|||900| |||||||66,302|11477||54,825| |TOTAL FUNDS||||||1,140,072|(1,455,528)|~265,000)|~580,456)| ## ## ## |The amounts
recognised
in the balance sheet are as follows:||| |---|---|---| ||Defined|benefit| ||pension|plans| ||2022|2021| |Fair value ofplan assets|970,000|1,429,800| |Present value ofdefined benefit obligation|(970,000)|(1,592,800)| |et scheme deficit||~163,000)| ## ||Defined|benefit| |---|---|---| ||pension|plans| ||2022|2021| |||g| |Current service cost||| |Net interest I'rom net defined benefit||| |asset/liability|3,000|(4,000)| |Past service cost||| ||3,000|~4,000| |Actual return on plan assets|26,200|38,000| |||||Defined|benefit| |---|---|---|---|---|---| |||||pension|plans| |||||2022|2021| |||||g|| |Opening|defined benefit|obligation||1,592,800|1,859,800| |Interest cost||||29,200|34,000| |Benefits|paid|||(467,000)|(873,000)| |Remeasurements:|||||| |Actuarial|(gains)/losses|fiom changes|in||| |demographic
assuinptions||||(76,000)|150,000| |Actuarial
financial|(gains)/losses
assumptions|from changes|in|~109000)|~422 000| |||||970,000|1,592,800| ## ||||Defined|benefit| |---|---|---|---|---| ||||pension|plans| ||||2022|2021| |Opening
fair value ofscheme assets|||1,429,800|1,859,800| |Assets surplus|not realisable||(223,000)|92,000| |Contributions
by employer|||22,500|102,000| |Expected return|||26,200|38,000| |Benetits paid|||(467,000)|(873,000)| |Return on plan|assets (excluding|interest||| |income)|||181,500|211,000| ||||970,000|1,429,800| |||||||Defined|benefit| |---|---|---|---|---|---|---|---| |||||||pension|plans| |||||||2022|2021| |Actuarial||(gains)/losses||trom changes in|||| |demographic|||assumptions|||76,000|(150,000)| |Actuarial||(gains)/losses||from changes in|||| |financial|assumptions|||||109,000|(422,000)| |Return on||plan assets||(excluding|interest||| |income)||||||181,500|211,000| |Irrecoverable|||surplus|||(223,000)|96,000| |||||||143,500|~265 000| |The major cat|egories ofsch|eme assets as amounts oftota|l scheme assets are as follows:|| |---|---|---|---|---| ||||Defined|benefit| ||||pension|plans| ||||2022|2021| ||||8|| |Equities (UK|and Overseas)||979,000|1,044,000| |Bonds|||61,000|299,000| |Property|||34,000|30,000| |Cash and net|current liability||(112,000)|33,800| |Other / Pensions managed||fund|231,000|23,000| |Asset surplus,|not realisable||~223,000)|| ||||~970 000|1429,800| ## ##