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2022-08-31-accounts

Greenhouse
Gas Emissions, Energy Consumption		 Greenhouse
Gas Emissions, Energy Consumption		 gr Energy Efficiency
arbon
Litres kuh onnes
UK annual
quantity ofemissions
in tonnes		 ofcarbon dioxide equivalent
ultin
from activities for which the corn		 an ' is res onsible involvdn:
i combustion of
as		 16
ii oonsum
tion offuel forthe		 ses oftran m 39047 105
UK Annual
quantity ofemissions
in tonnes		 ofcarbon dioxide equivalent
esulting fmm the purchase ofelectricity for its own use, including
for the
U
uses oftrails
ort.
ated fi
re in k)Yh of:
i)the L'K annual
quantity ofenergy		 consumed from activities for
which the corn
an
is res onsible invohin
a		 combustion of 87.072
ii)the UK annual
quantity ofenergy		 consumed resulting
fiom the
purchase ofelectricity by the company for its own use, including for
the
u
uses oftrans
om		 16.800
TAL 39047 103872 ' 124
kWh/m'
Ratio which expresses the company's
annual emissions
in relation to a
uantifiable
factor associated with the com		 an 's activities. Parve 43.9
Ratio which expresses the company's
annual
emissions
in relation to a
uantifiable
factor associated
vdth the com		 an 's activities. Heu/in 183.27

fiaud orerror and toobtain sufficient audit evidence to support th is. Wea lso evaluate and respond tothe r isk of mat erial misstateme
Audit pmcedures performed
by the engagement
team included:
Obtaining an understanding
ofthe legal and regulatory
framework		 applicable to the entity and how the entity is complying
with that fiamework.
Assessing the susceptibility
ofthe entity's financial
statements
to		 material misstatement,
including		 how finud might occur.
Discussing with management
and those charged with governance		 asto any kaown or suspected instances ofnon-
compliance with laws and regulations,
including
fraud
Obtaining an understanding
ofinternal
contml relevant to		 the audit in order to design audit procedures that are appmpriate
in the circumstances,
but not for the purpose ofexpressing		 an opinion on the efiectiveness ofthe company's internal
controL
Evaluating the appropriateness
ofaccounting policies used and the reasonableness		 ofaccounting estimates and related
disclosures made by the trustees.
Evaluating the overall presentafion,
structure
and contest		 ofthe financial
statements,
including		 the disclosures, and
whether the financial
statements
ruprtnent
the underlying		 transactions
and events		 in amanner that achieves fair
pfescumnolx

for the Year Ended 3 1stAugust 2022
2022 2021
Umestricted Total
funds funds
as restated
Notes
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 77,065,506 129,234,487
Charitable
acfivities
Design and build ofplaces ofworship 1,105,797
Investment
income		 2,868,666 2,527398
Other income 7927041 30485
Total 88,967,810 131,792,270
EXPENDITURE ON
Raising funds
Investment
management		 costs 124056 132,243
124,056 132,243
Charitable
activities
Assisting
Other Entities with similar aims and
objectives 75368,588 58,926,022
Design and build ofplaces ofworship 6,047,951 1,764,974
Pmviding
savices for full-time ministas		 573,816 600,393
Total 82,014,411 61,423,632
Net gainsroosses)
on investments		 ~18037021 ~7587985
NET INCOMEt(EXPENDITURE) (11,084,422) 68,786,653
RECONCILIATION OF FUNDS
Total funds brought forward 261,533365 192,746,712
TOTAL FUNDS CARRIED FORWARD 250448943 261533365

Balance Sheet
31stAugust 2022
2022 2021
Unrestricted Total
funds funds
as restated
Notes g
FIXEDASSETS
Tangible
assets		 12 1.923,522 14,944,158
Investments
Investments 13 2525233,645 246,186,326
Social investments 14 460,215 460 215
254,617,382 261,590,699
CURRENT ASSETS
Stocks 15 263266702 2,855,344
Debtors 16 758,667 1,392,516
Cash atbank and in hand 8334188 6577531
11,419,557 10,825,391
CREDITORS
Amounts
falling due within one year		 17 (7,368,929) (2,213,645)
NKT CURRENT ASSETS 4.050.628 8611746
TOTAL ASSETSLESS CURRENT LIABILITIES 258,668,010 270,202,445
CREDITORS
Amounts
falling due atter		 more than one year 18 (4,872,942) (5,475,168)
PROVISIONS FORI.IABILITIES 20 (35346,125) (35193,912)
NET ASSETS 250 448 943 261.533 36t
FUNDS 21
Unrestricttxi
funds
C8eneral Fund 250.448943 261533,365
TOTAL FliNDS 250448943 261533365
Thetinancial
statements		 srereapproved b the Board ofTrustees and authorised for issue on ..!.~....'........... ...................and were
I -. LK57X

2021
Notes as restatedf
Cash flows from operating
activities
Cash generated fiom operations 23 13,454,730 66 830041
Net cash pmvided by operating
activities		 13,454,730 66830641
Cash flows from investing activities
Purchase oftangible fixed assets (27,999) (68,068)
Purchase offixed asset investments
Sale oftangible fixed assets		 (226,099,936)
3~3,679		 (169,182,858)
2,974,046
Saleoffixed asset investments 208,735449 90,570,995
Interest received 303D 767 2 098945
Net cash used in investing activities ~))137941)) 73006940
Cash flows from financing activities
Loans advanced by tiepositors
Loans repaid to depositors
on		 29,017
~589)50		 106,907
~986)D
Net cash used in financing activities ~500 133) ~9).703)
Change in cash and cash equivalents in the
reporting
period		 1,756,657 (6,268,002)
Cash and cash equivalents at the beginning of
the reporting period 6577531 12845 533
Cash and cash equivalents at the end ofthe
reporting
period		 8 334188 6 577531

Depmciation
useful life		 isprovided
at the following
annual		 rates in order to write each asset down to its residual value over its estimated
Freehold land Not depreciated
Buildings 2%on cost
Plant and machinety 10%or6.7%on cost,
Motor vehicles 33%,2ip/o or 14%on cost
Fixtures and fittings 33%or 10%on cost
Impairment reviews are carried out on individual assets when there is some indication
that the recoverable		 amount ofafixed
asset isbelow its net book value.

No tes to the Financial Statement s - continued
for the Year Ended 31stAugust 2022
2. DONATIONS
AND LEGACIES
2022
f		 2021
f
Legacies 2,448,905 4,074,820
Donations ofcash and goods 74676667 125156667
77,065,506 129,234,487
3. INVESTMENT INCOME
2021
as restatedf
Rents mceived 9,582 23,753
Deposit account interest 4,408 3,599
Interest receivable ~2854676 ~2499946
~2868666 ~2527 298
4. INCOME IiROM CHARITABLE ACTIVITIES
2021
Desiga
and build
ofplaces
of Total
wondup activities
f,
Income finm construction ofplaces ofworship ~1105797
5. OTHER INCOME
2022f 2021
Gain on sale oftangible ftxed assets 543,846
Foreiga currency gains
Income fiom recycling		 7,358,884
~25 111		 ~30485
7,927,841 ~30485
6. INVESTMENT MANAGEMENT COSTS
2022f 2021f
Portfolio management 124056 132243

Suppon
Direct costs (see
Costs
f		 note 8)
f		 Torals
Assisting Other Entities with similar aims
and objectives 75,080,540 188,048 75,268,588
Design and build ofplaces ofworship 6,032,676 15,275 6,047,951
Providing sertdces for full-time
ministers		 572,368 1448 573816
81,685,584 204771 81.8001355
SUPPORT COSTS
Governance
Otherf cos'ts Totals
f.
Assisting Other Entities udth similar aims and
objectives
Design and build ofplaces ofworship
Protiding
services for full-time ministers		 156,751
12,733
~1207		 31,297
2,542
241		 188,048
15,275
~1448
170,691 34,080 204,771

2022f 2021
Auditors' remuneration 34,080 39,913
Depreciation
-owned assets		 109,845 297,496
Surplus on disposal offixed assets ~536,446) ~336,887)

TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property
f		 machinery
6		 fittings
6		 vehicles
f,		 Totals
6
COST
At 1stSeptember 2021 15,138,969 397,809 37,361 1,530,884 17,105,023
Additions
Disposais		 ~13.08066 ) 27,999
~93.t62)		 ~»3&711 27,999
'143055M)
At 31stAugust 2022 2,058303 332 M6 37,361 399,173 2 827,483
DEPRECIATION
At 1stSeptember 2021 964,090 196,183 32,576 968,016 2,160,865
Charge for year
Eliminated
on disposal		 37,091
~587.180&		 22,449
~68 890)		 2,039 48466
~7&0679		 109,&45
~&306749
At 31stAugust 2022 414,001 149,742 34615 305 M3 903961
NET BOOKVALUE
At 31stAugust 2022 1 M4 3D2 182904 2 746 93570 1 923522
At 31stAugust 2021 14.174879 2D) 626 ~ 705 562 M8 14944 150
Included in freehold property is land which isnot depreciated
with avalue off594,082.
FIXEDASSETINVESTMENTS
Listed
debt
securities Totals
6 f.
MARKET VALUE
At 1stSeptember 2021 (as restated) 2,153,954 244,032,372 246,186,326
Additions 14,585 226,085,350 226,099,935
Disposals (218,752) (208,516,358) (208,735,110)
Exchange differences
gain/loss		 and realised/unrealised 271056 ~11588 62) ~11317500)
At 31stAugust 2022 2330843 250D&2801 252233645
NET BOOKVALUE
At 31stAugust 2022 2110043 250 012802 252.233 645
At 31stAugust 2021 (as restated) 2153954 244 D32 371 246186326

SOCIAL INVESTMENTS
Programme
related
lltvestlnerlts
6xtulty
6
MARKET VALUE
At 1stSeptember 2021 and 31stAugust 2022 460215
NET BOOKVALUE
At 31stAugust 2022 460215
At 31st August 2021 460215

STOCKS
2022 2021
f 5
Raw materials 24,777 37,376
Work-in-progress 2,301,925 ~2817,968
~2326 702 ~2855 344
DKBTORSt A3IOUNTS FALLLNG DUE WITHIN ONK YEAR
2022 2021
f.
Trade debtors 7,592 16,612
Other debtors 59,007 54,123
Prepayments and accrued iucome 692,068 ~1321781
~758667 ~1,392516

Notes to the Financial Statements - continued
for the Year Ended 31stAugust 2022
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022f 2021
f.
Deposits (seenote 19)
Trade creditors		 541,438
1,444,885		 608,352
1,525,919
Other creditors
Accrued expenses		 5,284,939
~97667		 24,913
~54461
~7368929 ~2213 645

18. CREDITORS: AMOUNTS FA LLING D UE AFTER MORE THAN ONE YE AR
2022
f		 2021
f
Deposits (see note 19) ~4872 942 ~5475 168
19. DEPOSITS
No maturity
analysis isprovided		 for these deposits due to their nature, as described in the above notes.
20. PROVISIONS FORLIABILITIES
2022
f		 2021
f.
Conditional
donations		 ~3346 125 ~3193,912
Pmvision at 1stSeptember 2021 3,193,912
Pmvision on new conditional
donations received		 251,851
Pmvision released on conditional
Pmvision released on conditional		 donations
donations		 converted into donations
repaid		 (43,750)
~55888
Provisionat31stAugust 2022 ~3346,125

MOVEM KN T IN FUN DS
Net
movement At
At 1.9.21 in funds
f		 31.8.22
f
Unrestricted funds
General Fund 261,533,365 (11,084,422) 250,448,943
TOTAL FUNDS 261 533 365 ~tt 084422) 25tl 448 943
Net movement in funds, included in the above are as follou4a
Incoming Resources Gains and Movement
resources expended losses
f		 in funds
f
Unrestricted funds
General Fund 88,967,810 (82,014,411) (i8,037,821) (11,084,422)
TOTALFUNDS 88967810 ~82tl)4411) ~)8037,82)) ~t)084422)
Comparatives for movement in funds
Net
movement At
At 1.9.20
f		 in funds
f.		 31.8.21
f
Unrestricted funds
General Fund 192,746,712 68,786,653 261,533,365
TOTALFUNDS 192746712 60786653 261533365
Comparative net movement in funds, included in the above are as fogovvs:
Incoming Resources Gains and Movement
tesoutces
f		 expended
f		 lossesf in funds
Unrestricted funds
General Fund 131,792370 (61,423,632) (1,581,985) 68,786,653
TOTAL FUNDS 131792270 ~6)423632) ~)58)985 68786653
A current year 12months and prior year 12months combined position is as folloues
move)lteri't At
At 1.9.20
f		 in funds
f		 31.8.22
Unrestricted funds
General Fund 192,746,712 57,702,231 250,448,943
TOTAL FUNDS 192746712 57702231 250448943

MOVEMENT IN FUND S - continued S - continued
A cunent year 12months and prior year 12months combined
net movement		 in funds, included in the above are as follows:
Incoming Resources Gains and Movement
ICSO235CCS
f		 cxpcltdcd losses
f,		 in funds
f
Unrestricted funds
General Fund 220,760,080 (143,438,043) (19,619,806) 57,702,231
TOTAL FUNDS 220700080 ~1434380435 ~196198 57701131

23. RECONCILIATION OFNET (EXPENDITURE)/INCOME OFNET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2022 2021
f as fcstatcd
f
Net (expenditure)/income
for the reporting
Financial Activities)		 period (as per the Statement of
(11,084,422)		 68,786,653
Adiustmcnta
fort
Depreciation
charges		 109,845 297,497
Losses on investments 11,145,385 2,508,002
Profit on disposal offixed assets (536,446) (336,887)
Interest received (3,030,767) (2,698,945)
Other non-cash donations received (109,007) (1,477,285)
Movement
in assets held for sale		 80,000
(Decry)/increase
in
Donated asses		 provisions 152,213
10,251,557		 27,119
Accrued interest movement 171,683 195,400
Decrease/(increase)
in		 stocks 528,642 (685,554)
Decrctwc/(increase)
in		 debtors 633,849 (674,972)
Increase in creditors 5212 198 809613
Net cash provided
by		 operations 13454.730 66 830,641
24.. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.21
f		 Cash flow At 31.8.22
Net cash
Cash atbank and in hand ~6577531 ~1756657 ~8334 188
~6577,531 ~1756,657 ~8334,188
Debt
Debts falling dne within 1 year (608,352) 66,914 (541,438)
Debts falling due afier 1 year ~5475 168 6020266 ~4872 942
~6083520 ~669140 ~5414380
Total 494,011 ~2425,797 2,919,808

2022 2021
Debt instruments
at fair value
Listed debt securities 2507012,802 244,032,372
Other Investments 2,220,843 2,153,954
Trade debtors 7,592 16,612
Other debtors 671,074 54,123
Total 252 912311 246 257 067
Financial Liabilities at fair value
Deposits 541,438 608,352
Trade creditors 1,244,008 1,525,919
Other creditors 5,284,939 24,913
Accrued expenses 97,667 47,141
Deposirs &I year 4,872,942 5,475,168
Conditional
donations		 3346 126 3193.912
Total 15.387 119 10875405