2021-08-31-accounts - Watch Tower Bible And Tract Society Of Britain

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								Carbon
								Tonnes	KwH
Quantity	of emissions	in tonnes		of	carbon	dioxide	equivalent
resulting	from activities	for which		the	company	is responsible		147,047
Quantity	ofenergy consumed		resulting		from activities		for which
the company is responsible									30

						2021	2020
						Unrestricted	Total
					Notes	fundsf	fundsf
INCOME AND ENDOWMENTS			FROM
Donations and legacies						129,234,487	132,490,597
Charitable activities
Design and build ofplaces ofworship				and
administrative facilities							9,781,957
Investment income						945,313	1,662,538
Other income						36435	382,856
Total						130,210,285	144,317,948
EXPENDITURE ON
Raising funds
Investment management	costs					132,243	266139
						132,243	266,139
Charitable activities
Assisting Entities Overseas						58,926,022	82,954,177
Design and build ofplaces ofworship				and
administrative facilities						1,764,974	15,435,731
Providing services for	full-time	ministers				600,393	928,726
Total						61,423,632	99,584,773
NET INCOME						68,786,653	44,733,175
RECONCILIATION	OF FUNDS
Total funds brought forward						192,746,712	148,013,537
TOTAL FUNDS CARRIED		FORWARD				261 533 365	192.746 712

Balance Sheet 31stAugust 2021
			2021	2020
			Unrestricted	Total
		Notes	fundsf	fundsf
FIXEDASSETS
Tangible assets			14,944,158	17,810,745
Investments
Investments		12	2,153,954	12,535,853
Social investments		13	460,215	460.215
			17,558,327	30,806,813
CURRENT ASSETS
Stocks		14	2,855,344	2,169,790
Debtors		15	1,392,516	717,544
Investments		16	244,032,372	157,822,012
Cash at bank and in hand			6577.531	12,845,533
			254,857,763	173,554,879
CREDITORS
Amounts falling due within	one year	17	(2,213,645)	(1,560,931)
NET CURRENT ASSETS			252,644,118	171,993,948
TOTAL ASSETSLESSCURRENT LIABILITIES			270,202,445	202,800,761
CREDITORS
Amounts falling due aller more than one year		18	(5,475,168)	(6,887,256)
PROVISIONS FOR LIABILITIES		20	(3,193,912)	(3,166,793)
NET ASSETS			261 533365	192,746.712
FUNDS		21
Unrestricted funds:
General Fund			26 533.365	1927 6712
TOTAL FUNDS			261.533365	192,746,7

			Notes	2021f	2020
Cash flows from operating	activities
Cash generated from operations			23	65,904,624	35959 0
Net cash provided by operating activities				65,904,624
Cash flows from investing	activities
Purchase oftangible fixed assets				(68,068)	(595,634)
Purchase ofcurrent asset investments				(86,290,360)	(140,251,557)
Sale oftangible fixed assets				2,974,046	6,346,723
Sale offixed asset investments				10,381,899	3,168,775
Interest received				3,599	161,880
Dividends received				917961	1,500,658
Net cash used in investing	activities			~72.080.923)	~)29609 155)
Cash flows from flnancing	activities
Loans advanced by depositors Loans repaid to depositors on				106,907 ~980 0	626,276 ~392200
Net cash (used in)/provided	by fmancing activities			~9)703)	23 076
Change in cash and cash	equivalents	in the
reporting period				(6,268,002)	(85,839,239)
Cash and cash equivalents	at the beginning		of
the reporting period				12,845,533	98684 772
Cash and cash equivalents	at the end	ofthe
reporting period				6577 531	12845 533

for	Year Ended 31stAugust 2021	Year Ended 31stAugust 2021
2.	DONATIONS AND LEGACIES
				2021	2020
				f.
	Legacies			4,074,820	1,123,610
	Donations ofcash and goods			123.139667	131 366.987
				». 3 8»3.
3.	INVESTMENT INCOME
				2021	2020
	Rents received			23,753
	Other unlisted securities Deposit account interest			917,961 ~3599	1,500,658 ~161880
				~945 313	~1662,538
4.	INCOME FROM CHARITABLE		ACTIVITIES
				2021	2020
				Total	Total
				activities	activities
					f
	Income from branch construction				5,615,211
	Income &om Kingdom	Hall construction			~4166746
					~9781 957
	OTHER INCOME
				2021f	2020
	Foreign currency gains				165,486
	Other income				111,134
	Income from recycling			30,485	106,236
				~30 485	382,856
6.	INVESTMENT MANAGEMENT		COSTS
				2021 f	2020f
	Portfolio management			~132243	~266 139

7.	CHARITABLE ACTIVI	TIES CO	STS
					Support
				Direct	costs (see
				Costs	note 8) f		Totals f
	Assisting Entities Overseas			57,776,507	1,149,515	58,926,022
	Design and build ofplaces	ofworship	and
	administrative facilities			1,754,479	10,495	1,764,974
	Providing services for full-time ministers			598823	3 579		600393
				60,127,809	1,163,580	61,291,389
8.	SUPPORT COSTS
					Governance
				Other f	cos'ts f		Totals f
	Assisting Entities Overseas			1,111,142	38,373	1,149,515
	Design and build ofplaces	ofworship	and
	administrative facilities Providing services for full-time ministers			9,346 3,179	1,149 391	10,495 ~3570
				1,123,667	39,913	1,163,580
	Support costs have been allocated to		the appropriate	activity, as shown above, in line with the charity's accounting			policies.
9.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure)	is stated after charging/(crediting):
					2021f		2020
	Auditors' remuneration				39,913		31,860
	Depreciation -owned assets				297,496		647,030
	Surplus/(deficit) on disposal offixed		assets		(336,887)		396,463

TANCIBLK FIXEDASSE	TS
			Fixtures
	Freehold	Plant and	and	Motor
	property f	machinery f	fittings f	vehicles	Totals f
COST
At 1st September 2020	17,709,179	1,006,115	477,099	1,962,157	21,154,550
Additions Disposals	68,068 ~2638 278)	~608306)	~439738)	~43) 2 3)	68,068 ~4»7.595)
At 31stAugust 2021	15 138,969	397,809	37,361	.530.88	17 105023
DEPRECIATION
At 1stSeptember 2020	1,189,981	536,648	454,177	1,162,999	3,343,805
Charge for year Eliminated on disposal	151,389 ~377280)	28,928 ~369393)	6,277 ~427878)	110,902 ~305885)	297,496 ~1480430)
At 31stAugust 2021	964090	196183	32576	9680 6	2160865
NET BOOK VALUE
At 31stAugust 2021	4174,879	211 626	4785	562868	49441511
At 31stAugust 2020	16519 98	469467	22922	799158	17810745
FIXEDASSET INVESTMKNTS
					Investments
					f
MARKET VALUE
At 1st September 2020 Disposals					12,535,853 ~10381.899)
At 31stAugust 2021					2,153,954
NET BOOK VALUE
At 31stAugust 2021					2,153,954
At 31stAugust 2020					12 535 853

SOCIAL INVESTMENTS
	Programme
	related
	investments
	efiuity
MARKET VALUE
At 1st September 2020 and 31stAugust 2021	460 215
NET BOOK VALUE
At 31stAugust 2021	4602H
At 31st August 2020	460,215

Notes	to the Financ	to the Financ	ial Statements - continued
for the	Year Ended 31st		August 2021
14.	STOCKS
				2021	2020
				f
	Raw materials			37,376	48,510
	Motor vehicle	spares and consumables			11,625
	Work-in-progress			2,817,968	~2, 109655
				~2855,344	~2169,790
15.	DESTORSt	AMOUNTS FALLING DUE WITHIN ONE YEAR
				2021	2020
				f	f
	Trade debtors			16,612	203,589
	Other debtors			54,123	73,198
	Prepayments	and	accrued income	~1,321 781	440,757
				1,392,516	~717544
16.	CURRENT ASSET INVESTMENTS
				2021	2020
					f
	Cash equivalents		on deposit	244,032,372	157,742,012
	Land in course ofdisposal				80 000
				244,032,372	157,822,012
17.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				2021	2020
				f	f.
	Deposits (see	note 19)		608,352	765,251
	Trade creditors			1,525,919	680,396
	Other creditors			24,913	63,843
	Accrued expenses			54,461	51,441
				~2213645	~1560931

2021	2020
f
5,475,168	~6887,256

						2021	2020
						f	f
Conditional	donations					3,193,912	3,166,793
							f
Provision	at 1stSeptember 2020						3,166,793
Provision	on new conditional donations		received				488,107
Provision Provision	released on conditional released on conditional	donations donations		convetted repaid	into donations		(356,538) ~)04,450)
Provision	at 31stAugust 2021						~3193912

MOVEM	EN	T IN FUNDS
						Net
						movement	At
					At 1.9.20	in funds	31.8.21
						f	f
Unrestricted		funds
General	Fund				192,746,712	68,786,653	261,533,365
TOTAL	FUNDS				192746,712	68,786653	261,533,365
Net movement		in funds, included		in the above are as follows:
					Incoming	Resources	Movement
					resol8fces f	expended	in funds f
Unrestricted		funds
General	Fund				130,210,285	(61,423,632)	68,786,653
TOTAL	FUNDS				130230285	~04236327	68786653
Comparatives		for movement	in	funds
						Net
						movement	At
					At 1.9.19	in funds	31.8.20
					f		f
Unrestricted		funds
General	Fund				148,013,537	44,733,175	192,746,712
TOTAL	FUNDS				140013. 37	44.733.175	102746 732

								Incoming	Incoming		Resources		Movement	Movement
								resources			expended f			in funds f
Uarestricted funds
General Fund							144,317,948			(99,584,773)			44,733,175
TOTAL FUNDS								43	79 8	~99584773)			4	.733.»5
A entreat year 12months			and prior year		12months	combined	position is as	follows:
											Net
											movement			At
								At	1.9.19		in funds			31.8.21
									f.		f			f
Unrestricted funds
General Fund							148,013,537			113,519,828			261,533,365
TOTAL FUNDS							48,013,537			1 3.5 9.828			26	533 365
A current year 12months			and	prior year	12months	combined	net movement	in	funds,	included	in the above		are	as follows:
								Incoming			Resources		Movement
								resources			expended			in funds
											f
Unrestricted funds
General Fund							274,528,233			(161,008,405)			113,519,828
TOTAL FUNDS							27	.5	8. 33	~)6) 008405)			11359828
RELATED PARTY		DISCI OSURES
There were no related		party transactions			for the year ended 31stAugust 2021.
RECONCILIATION		OF NET INCOME TO NET CASH					FLOW FROM OPERATING				ACTIVITIES
											2021			2020f
Net income for the	reporting			period (as per the Statement			ofFinancial
Activities)										68,786,653			44,733,175
Adjustments for:
Depreciation charges											297,497			647,030
(Profit)/loss on disposal			offixed assets								(336,887)			396,463
Interest received											(3599)			(161,880)
Dividends received											(917,961)		(1,500,658)
Other non-cash donations			received							(1,477,285)			(1,331,150)
Movement in assets	held		for sale								80,000			196,672
Increase/decrease in	provisions										27,119			154,093
(Increase)/decrease	in	stocks									(685,554)			1,215,502
(Increase)/decrease Increase/(decrease)	in in	debtors creditors									(674,972) 809,613	2,565,481 ~33)8.888
Net cash provided	by operations									5904624				3.595.8 0

				At 1.9.20	Cash flow	Cash flow		At 31.8.21
				6				f
	Net cash
	Cash at bank and in hand
				12845533	~6268002			6577. 3
	Liquid resources
	Deposits included in cash
	Current asset investments			157822 012	86	210,360	244 032372
				157822 012	86	2 0360	2	032 372
	Debt
	Debts Debts	falling due within 1 year falling due after 1 year		(765,251) ~6887230	I	156,899 12088	(608,352) ~5475 168
				~652 507	I	568,987	~6083520
	Total			163015038	8	5113 5	244526383
25.	FINANCIAL INSTRUMENTS
					2021			2020
	Debt instruments at amortised		cost
		Unlisted investments			244,032,372			157,742,012
		Trade debtors				16,612		203,589
		Other debtors				4 23		73 198
		Total			244103 07			158018799
	Fiaancial Liabilities at amortised cost
		Deposits			608,352			765,251
		Trade creditors			1,525,919			680,396
		Other creditors				24,913		63,843
		Accrued expenses				47,141		51,441
		Deposits &I year			5,475,168			6,887,256
		Conditional donations			3	93.912		3 160793
		Total			10875405			11614980