|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|5|
|Report ofthe Independent
Auditors|6|to|8|
|Statement ofFinancial Activities||||
|Balance Sheet||10||
|Cash Flow Statement||||
|Notes to the Cash Flow Statement||12||
|Notes to the Financial Statements|13|to|24|
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||||||||31.12.20|31.12.19|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|Total|
|||||Notes|funds|funds
f|funds|fundsf|
|INCOME AND ENDOWMENTS|||FROM||||||
|Donations
and legacies||||2|2,846&412|127485|2,973,997|2,457,062|
|Charitable
activities||||4|||||
|Support for Ministry|||||74&214||74,214|73,165|
|Church Property||||||350,841|350,$41|382,799|
|Invesnnent
income||||3|~67 123|~19514|~86637|~101563|
|Total|||||2,987,749|497,940|3,485,689|3,014,589|
|EXPENDITURE ON|||||||||
|Charitable
activities|||||||||
|Support for Ministry|||||2,110,720|70,635|2&181455|2,380,072|
|Support for Parishes|||||487,696|34,799|522,495|467,150|
|Church Property|||||115,699|158412|273,911|336,949|
|Grants k Other Financial||Support|||28„&t25|$,01$|36,943|36,505|
|Communication|||||28,925|249|29,174|28,205|
|Total|||||2,771„&t67|271,911|3,043,878|3,248,$81|
|Net gains on investments|||||~194028|70,977|~265005|~600051|
|NKT INCOME|||||409,810|297,006|706,$16|365,759|
|Transfers between funds||||16|~55 60|55360|||
|Net movement
in funds|||||465,170|241,646|706,816|365,759|
|RECONCILIATION|OF FUNDS||||||||
|Total funds brought|forward||||4454,561|1,127,572|5,482,133|5,116,374|
|TOTAL FUNDS CARRIED FORWARD|||||~4819731|~169 18|~6188949|5,482,133|
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|||||31.12.20|31.12.19|31.12.19|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total||Total|
|||funds|funds|funds||funds|
||Notes|f|f.|f|||
|FIXEDASSETS|||||||
|Tangible assets|11|289,868|2373|292,241||294,402|
|Investments|32|4.884.875|||4|830525|
|||4,373,943|1,013,827|5,387,770|5,124,927||
|CURRENT ASSETS|||||||
|Stocks|13|||||3,000|
|Debtors
Cash at bank|14|325,035
624 6|87,869
3 "'I|412,904||391,876
562 923|
|||949,635|404,581|1,354,216||957,799|
|CREDITORS|||||||
|Amounts
falling due within one year|15|(503,847)|(49,190)|(553,037)|(600,593)||
|NET CURRENT ASSETS||7|I|||»
6|
|TOTAL ASSETSLESSCURRENT|||||||
|LIABILITIES||4,819,731|1,369,218|6,188,949|5,482, 133||
|NET ASSETS|||~69
8|6 8899|5|I
M|
|FUNDS|||||||
|Unrestricted
funds||||4,819,731|4,354,561||
|Restricted
funds||||||2|
|TOTAL FUNDS||||||»33|
##
##
||||||31.12.20|31.12.19|
|---|---|---|---|---|---|---|
|||||Notes|||
|Cash fiovrs from operating|activities||||||
|Cash generated
from operations||||I|301,819|~119135)|
|Net cash provided
by/(used|in)|operating||activities|301,819|~119,135)|
|Cash flows froin investiag|activities||||||
|Purchase oftangible
fixed assets|||||(9,580)|(2,618)|
|Purchase offixed asset investments||||||(53,071)|
|Sale offixed asset investments||||||100,000|
|Interest received|||||86,150|101,057|
|Net cash provided by investing||activities|||76,570|145,368|
|Change in cash and cash equivalents|||in||||
|the reporting
period|||||378,389|26,233|
|Cash and cash equivalents|at|the|||||
|begianing
ofthe reporting|period||||562,923|536,690|
|Cash and cash equivalents|at|the end|of||||
|the reporting
period|||||~941 312|~562 923|
##
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||RECONCILIATION|RECONCILIATION|OF NET INCOME TO NKT CASH FLOW FROM|OF NET INCOME TO NKT CASH FLOW FROM|OPERATING||
|---|---|---|---|---|---|---|
||ACTIVITIES||||||
||||||31.12.20|31.12.19|
|||||||I|
||Net income for the|reporting||period (as per the Statement ofFinancial|||
||Activities)||||706,816|365,759|
||Adjustments
for:
Depreciation
charges||||11,741|6,720|
||Gain on investments||||(265,005)|(600,051)|
||Interest received||||(86,150)|(101,057)|
||Decrease in stocks||||3,000|345|
||Increase in debtors||||(21,027)|(278,973)|
||(Decrease)/increase|in|creditors||~47 556|488,122|
||Net cash provided|by/(used||in) operations|~301819|(119,135)|
|2.|ANALYSIS OF CHANGES|||IN NET FUNDS|||
|||||At 1.1.20|Cash flow|At31.12.20|
|||||f|f||
||Net cash||||||
||Cash at bank|||~562923|378889|941,312|
|||||~562 23|378,389|941,312|
||Total|||562,923|378889|~941 312|
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|DONATION|S
AND LEGACIES|||||
|---|---|---|---|---|---|
|||||31.12.20|31.12.19|
|||||f|f|
|Ministry
area donations||||1,408,303|1,606,638|
|RBCW grants||||352,450|704,899|
|Other grants||||83,098|54,217|
|Coronavirus|grants|||995,131||
|Evangelism
grants
Sundry donation
tk other income||||71,318
~63697|~91308|
|||||~2973997|2,457,062|
|INVESTMENT INCOME||||||
|||||31.12.20|31.12.19|
||||||f|
|Bank interest
—general||||487|506|
|Investment|income from listed investments|—general|fund|67,123|82,408|
|Investment|income fiom listed investments|-widows|&orphans|19,027|18,649|
|||||86,637|101,563|
##
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|INCOME FRO|M CH|A|RITA|BLE ACTIVITIES||||
|---|---|---|---|---|---|---|---|
|||||||31.12.20|31.12.19|
|||||Activity|||f|
|Administration|contributions|||Support for Ministry||74,214|73,165|
|Rents due to Parsonage||fund||Church Property||113,010|94,054|
|Personages
improvements||||||||
|fund||||Church Property||8,129|41,272|
|BDBFgrant to parsonage||||||||
|fund||||Church Properly||229,702|247,473|
|||||||425,055|455,964|
|CHARITABLE ACTIVITIES COSTS||||||||
|||||||Support||
||||||Direct|costs (see||
||||||Costs
f.|note 6)
f.|Totals
f|
|Support for Ministry|||||1,889,632|291,723|2,181,355|
|Support for Parishes|||||405,805|116,690|522,495|
|Church Property|||||157,220|116&691|273,911|
|Grants &Other
Communication|Financial||Support||7,769|29,174
~29174|36,943
~29174|
||||||2,460,426|583,452|3,043,87$|
##
|SUPPORT COSTS|||||
|---|---|---|---|---|
||||Governance||
|||Management
f|costs|Totals|
|Support for Ministry||268,508|23,215|291,723|
|Support for Parishes||107,404|9,286|116,690|
|Church Property||107,405|9&286|116,691|
|Grants &Other Financial|Support|26,$52|2322|29,174|
|Communication||~26 852|2322|29,174|
|||537,021|46,431|583,452|
|Activity||Basis ofallocation|
|---|---|---|
|Management||As below|
|Governance
costs||As below|
|Support for Ministry||50%|
|Support for Parishes||20%|
|Church Property||20%|
|Grants &Other Financial|Support|5%|
|Communication||5%|
##
||||31.12.20|31.12.19|
|---|---|---|---|---|
||||8||
|Auditors'|remuneration||10,920|10,560|
|Auditors'|remuneration|for non audit work|3,320|1,464|
|Depreciation - owned||assets|11,741|6,720|
##
##
##
|||31.12.20|31.12.19|
|---|---|---|---|
||||6|
|Wages|and salaries|437,223|349,818|
|Social|security costs|38,882|30,982|
|Other|pension costs||48,150|
|||8||
|The average monthly
number ofemployees
during|the year was as follows:||
|---|---|---|
||31.12.20|31.12.19|
|Chief officer|4.8|4|
|Finance oCicer|2|I|
|CYFME|4|4|
|Other|4||
||14.8||
##
##
|contributions
for 19|(2019|(2019|- 17)staff members.|- 17)staff members.|||
|---|---|---|---|---|---|---|
|COMPARATIVES|FOR||THE STATEMENT OF FINANCIAL ACTIVITIES||||
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|||||f.|I||
|INCOME AND ENDOWMENTS FROM|||||||
|Donations
and legacies||||2,422,538|34,524|2,457,062|
|Charitable
activities|||||||
|Support for Ministry
Church Property||||73,165|382,799|73,165
382,799|
|Investment
income||||82,408|19,155|~101563|
|Total||||2,578,111|436,478|3,014,589|
|EXPENDITURE ON|||||||
|Charitable
activities|||||||
|Support for Ministry||||2,378,047|2,025|2,380,072|
|Support for Parishes||||436,099|31,051|467,150|
|Church Property||||112,012|224,937|336,949|
|Grants &Other Financial|||Support|28,002|8,503|36,505|
|Communication||||28,002|203|28,205|
|Total||||2,982,162|266,719|3,248,881|
|Net gains on investments||||~449 099|150,952|~600051|
|NET INCOME||||45,048|320,711|365,759|
|Transfers
between|funds|||~54 581|~545811||
|Net movement
in funds||||99,629|266,130|365,759|
|RECONCILIATION||OF FUNDS|||||
|Total funds brought||forward||4,254,933|861,441|5,116,374|
|TOTAL FUNDS CARRIED FORWARD||||4,354,562|1,127,571|5,482, 133|
##
|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|
|||Fixtures|||
||Freehold|and|Computer||
||property|fittings|equipment
I|Totals|
|COST|||||
|At 1 January 2020
Additions|262800|44,533|9,066
9,580|316,099
~9580|
|At 31December 2020|262,500|44,533|18,646|325,679|
|DEPRECIATION|||||
|At I January 2020
Charge for year|2,625|17,817
4,453|3,880
4,663|21,697
~II 741|
|At 3I December 2020|~2625|~22 270|~8543|~33 438|
|NET BOOK VALUE|||||
|At 31 December 2020|259,875|22,263|~10103|~292 241|
|At 31 December 2019|262,500|26,716|5,186|294,402|
##
|FIXEDASSETINVESTMENTS||
|---|---|
||COIF|
||investments|
|MARKET VALUE||
|At 1 January 2020
Revaluations|4,830,525
~265 004|
|At 31 December 2020|~5095529|
|NET BOOK VALUE||
|At 31 December 2020|5,095,529|
|At 31 December 2019|~4,830525|
##
|13.|STOCKS|||||
|---|---|---|---|---|---|
|||||31.12.20|31.12.19|
|||||f||
||Stocks||||3,000|
|14.|DEBTORS:AMOUNTS FALLING|DUE WITHIN ONE YEAR||||
|||||31.12.20|31.12.19|
|||||f||
||Ministry area donations
Other debtors|||391869
373,035|96,860
292,016|
||Prepayments||||3,000|
|||||412,904|391,876|
|15.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE||YEAR|||
|||||31.12.20|31.12.19|
||||||f|
||Other creditors|||553,037|600,593|
|16.|MOVEMENT IN FUNDS|||||
||||Net|Transfers||
||||movement|between|At|
|||At 1.1.20|in funds|funds|31.12.20|
|||f||f|f|
||Unrestricted
funds|||||
||General fund|||||
|||3,791,148|513,187|55,360|4,359,695|
||Capital reserve
StBeuno Fund
Operational
reserve|262,500
187,733
~113180|(2,625)
(107417)
6,765||259,875
80,216
~119945|
|||4,354,561|409,810|55360|4,$19,731|
||Restricted funds|||||
||Parsonage
board|388,411|222,048|(55,360)|555,099|
||Widows gt orphans|695,547|50,195||745,742|
||Cathedral
Partnership|25,065|107||25,172|
||Cathedral
Foodbank|10,840|23,453||34&293|
||Good Hope Foundation
Envangelism
Fund|7,709|(1,170)
~273||6,539
2 373|
|||~1127572|~297006|~55,360|~1369218|
||TOTAL FUNDS|~5,4$2 133|706,816||~6,188949|
##
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expendtxl|losses|in funds|
||f,||||
|Unrestricted
funds|||||
|General
fund|||||
||2,962,749|(2,636,825)|187,263|513,187|
|Capital reserve||(2,625)||(2,625)|
|StBeuno Fund
Operational
reserve|25,000|(132,517)|~6765|(107,517)
~6765|
||2,987,749|(2,771,967)|194,028|409,810|
|Restricted funds|||||
|Parsonage
board|351,172|(160870)|31,246|222,048|
|Widows &orphans|19,253|(8,789)|39,731|50,195|
|Cathedral
Partnership|107|||107|
|Cathedral
Foodbank|45,645|(22,192)||23,453|
|Good Hope Foundation
Envangelism
Fund|10,445
~71318|(11,615)
~68,94||(1,170)
~273|
||~497940|~271 11|~70977|~297006|
|TOTAL FUNDS|~3485689|~3,043,878|~265005|~706816|
##
|Cemparatives
for movement
in fu|nds||||
|---|---|---|---|---|
|||Net|Transfers||
|||movement|between|At|
||At 1,1.19
f|in funds
f|funds
f.|31.12.19
f.|
|Unrestricted
funds|||||
|General fund|||||
||3,544,140|92,427|154,581|3,791,148|
|Capital reserve|262,500|||262,500|
|StBeano Fund
Operational
reserve|263,848
184,445|(76,115)
28,735|~100,000|187,733
~113180|
||4,254,933|45,047|54,581|4,354,561|
|Restricted funds|||||
|Parsonage board|224,400|218,592|(54,581)|388,411|
|Widows gt orphans|591,614|103,933||695,547|
|Cathedral
Partnership|24,441|624||25,065|
|Cathedral
Foodbank
Good Hope Foundation|12,819
8,167|(1,979)
~458)||10,840
~7709|
||~861441|320,712|54 581|1,127,572|
|TOTAL FUNDS|~5116,374|~365759||~5482,133|
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
|Unrestricted
funds|||||
|General fund|||||
||2,553,111|(2,881,048)|420,364|92,427|
|StBeuno Fund
Operational
reserve|25,000|(101,115)|~28735|(76,115)
28,735|
||2,578,111|(2,982,163)|449,099|45,047|
|Restricted funds|||||
|Parsonage
board|389,060|(227,187)|56,719|218,592|
|Widows A orphans|18,990|(9,290)|94,233|103,933|
|Cathedral
Partnership|1,650|(1,026)||624|
|Cathedral
Foodbank
Good Hope Foundation|1],992
14,786|(13,971)
~(15,244||(1,979)
~458|
||436478|~266,718)|150,952|~320712|
|TOTALFUNDS|~3,014589||||
##
|A current year 12months
and prior|year 12months
combined
p|osition is as foll|ows:||
|---|---|---|---|---|
|||Net|Transfers||
|||movement|between|At|
||At 1.1.19|in funds|funds|31.12.20|
|||f|||
|Unrestricted
funds|||||
|General
fund|||||
||3,544,140|605,614|209,941|4,359,695|
|Capital reserve|262,500|(2,625)||259,875|
|StBeuno Fund
Operational
reserve|263,848
184,445|(183,632)
~35 500|~100,000)|80,216
119,945|
||4,254,933|454,857|]09,941|4,819,731|
|Restricted funds|||||
|Parsonage
board|224,400|440,640|(109,941)|555,099|
|Widows k orphans|591,614|154,128||745,742|
|Cathedral
Partnership|24,441|731||25,172|
|Cathedral
Feedback|12,819|21,474||34,293|
|Good Hope Foundation
Envangelism
Fund|8,167|(1,628)
2,373||6,539
~2373|
||861,441|~617718|~(109,941|~1,369218|
|TOTAL FUNDS|~5116,374|~1072575||6,188,949|
##
|A current year 12months
and prior
as follows:|year 12months
combined|net movement
in|funds, included|in the above a|
|---|---|---|---|---|
||Incoming|Resources|Gains and|Movement|
||resources|expended|losses|in funds|
||f|f,|f.|f|
|Unrestricted
funds|||||
|General fund|||||
||5,515,860|(5,517,873)|607,627|605,614|
|Capital reserve||(2,625)||(2,625)|
|StBeuno Fund
Operational
reserve|50,000|(233,632)|~35500|(183,632)
35,500|
||5,565,860|(5,754,130)|643,127|454,857|
|Restricted funds|||||
|Parsonage board|740,232|(387,557)|87,965|440,640|
|Widows R orphans|38,243|(18,079)|133,964|154,128|
|Cathedral
Partnership|1,757|(1,026)||731|
|Cathedral
Foodbank|57,637|(36,163)||21,474|
|Good Hope Foundation
Envangelism
Fund|25,231
~71318|(26,859)
~68,945)||(1,628)
~2373|
||~934418|~538 629|221,929|~617718|
|TOTAL FUNDS|~6500278|~6,292,759)|~865056|~1072575|
##
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