2020-12-31-accounts

				Page
Trustees' Report				1-6
Independent Examiner's		Report
Statement of Financial	Activities		(including
income and expenditure		account)
Balance Sheet
Statement ofCash Flows				10
Notes tothe Accounts				11-20

Legal and		administrative	information
Trustees			Mrs Elizabeth Barker
			Mr Richard Sewell
			Dr Glennis Willams
			Mr John Charles Whitehead
			Mr Guy Sears		(resigned	31 August 2020)
			Mr Gregory George		(appointed	5 January 2021)
			Mr Stuart Walker		(appointed	13February 2021)
Secretary			Mrs Gillian Ryeland
Director			Rev'd John Ryeland
Charity number			1080534
Company	number		03877993
Registered		Office	International House,
			142 Cromwell Road, London,
			England, SW7 4EF
IIldependent		Examiner	Steve Ellum
			Steve Ellum 8 Associates	Limited
			Chartered Accountants
			Adulam House, Gian Yr Afon, Llanelli SA15			3QB
Bankers			CafCash Limited
			Kings Hill
			West Mailing Kent
			ME194TA
Investment		advisors	Ruffer Investment Management		Limited
			80 Victoria Street
			London SW1E5JL

				Unrestricted	Restricted	Total	Total
				Funds	funds	2020	2019
			Notes			F
Income and endowments		from:
Other donations and legacies				98,481		98,481	41,443
Investment income				15,139		15,139	16,120
Other sources				824,229		824,229
				937,849		937,849	57,563
Income charitable activities				2,028		2,028	4,747
Total income				939,877		939,877	62,310
Expenditure on:
Raising funds				2,401		2,401	1,208
Charitable activities:
Ministry and teaching				150,782		150,782	198,920
Total expenditure				153,183		153,183	200,128
Net gains on investments				63,296		63,296	16,712
Net gain on revaluation	offixed assets		18	857,000		857,000
Net expenditure for the year and
Net movement in funds				1,706,990		1,706,990	(121,106)
Fund balances at 1 January		2020	18	1,106,107		1,106,107	1,227,213
Fund balances at 31 December 2020			18	2,813,097		2,813,097	1,106,107

			Notes	2020	2020	2019	2019
Fixed assets
Tangible assets			11		1,203,621		695,863
Investments			12		1,479,370		276,930
					2,682,991		972,793
Current assets
Stocks				5,172		6,238
Debtors			13	4,941		9,827
Investments			12			100,000
Cash at bank and in		hand		131,195		30,732
				141,308		146,797
Creditors: amounts	falling due within
One year			14	(11,202)		(13,483)
Net current assets					137,106		133,314
Total assets less current liabilities					2,820,097		1,106,107
Creditors: amounts		falling due after
More than one year
					2,813,097		1,106,107
Income funds
Unrestricted funds			18		1,956,097		1,106,107
Revaluation Reserve			18		857,000
					2,813,097		1,106,107

			2020	2019
Cash flows from operating activities
Surplus/(deficit) for the financial year			1,706,990	(121,106)
Adjustments for:
Depreciation oftangible assets			14,255	19,488
Profit on Sale ofFixed Assets			(824,229)
Interest received			(2)	(2)
Rents received			(14,000)	(14,000)
Dividends received			(1,137)	(2,118)
(Gains) on investments			(920,296)	(16,712)
Decrease/(increase) in trade and other debtors			4,886	(2,772)
Decrease in stocks			1,066	2,634
Decrease in trade creditors and other creditors			(2,281)	(33,228)
Net cash generated from operating	activities		(34,748)	(167,816)
Cash flows from investing activities
Purchase of investments			(1,100,000)
Proceeds from sale ofinvestments			60,856	155,000
Proceeds from sale offixed assets			1,159,216
Interest received
Rents Received			14,000	14,000
Dividends received			1,137	2,118
Net cash from investing activities			135,211	171,120
Net increase in cash and cash equivalents			100,463	3,304
Cash and cash equivalents at the beginning		ofthe year	30,732	27,428
Cash and cash equivalents at the end ofthe		year	131,195	30,732

2	Donation and legacies
					2020	2019
						F
	Other donations				27,186	41,443
	Legacies				71,295
					98,481	41,443
3	Investment Income
					2020	2019
	Income from listed investments				1,137	2,118
	Rental income from investment		property		14,000	14,000
	Interest receivable				2	2
					15,139	16,120
4	Income from other sources
					2020	2019
	Profit on disposal ofCambridge		Court		823,085
	Profit on disposals				1,144
					824,229
5	Income from charitable	activities
					2020	2019
	Publications, conferences	and	speaking	engagements	2,028	4,747

Total expend	iture
				Staff	Depreciation/	Other	Total	Total
				Costs	loss on	costs
					Disposalf		2020	2019
Raising funds
Investment	property	management	costs			2,401	2,401	1,208
Charitable	activities
Minist and	teachin
Activities undertaken		directly		39,253		4,854	44,107	82,986
Support costs				56,486	14,255	35,934	106,675	115,934
				95,739	14,255	40,788	150,782	198,920
Total expenditure				95,739	14,255	43,189	153,183	200,128

Support cos	ts
		Ministry	Total	Total
		And	2020	2019
		Teaching
Premises costs		18,645	18,645	15,041
Communications		4,465	4,465	5,766
Staff costs		56,486	56,486	63,950
Depreciation		14,255	14,255	19,488
Other support	costs	10,544	10,544	9,215
Governance	costs	2,280	2,280	2,474
		106,675	106,675	115,934

equivalent e	mp	loyees during the year was
			2020	2019
			F	F
Direct charitable		activities		2
Support staff				3
Employment	costs
			2020	2019
			F
Wages and salaries			82,417	124,350
Social security	costs		3,702	8,358
Other pension	costs		9,620	(13,850)
Other redundancy		costs		18,000
			95,739	136,858

	Land and	Building	Plant and	Fixtures,	Total
	Buildings	project	machinery	fittings &
				equipment
			E	E
Cost
At 1 January 2020	806,865	163,254	20,970	52,894	1,043,983
Revaluation	857,000				857,000
Disposals	(463,865)	(163,254)	(20,970)		(648,089)
	1,200,000			52,894	1,252,894
Depreciation
At 1 January 2020	261,016	26,692	11,966	48,446	348,120
Charge for the year	10,304	2,449	675	827	14,255
Disposals	(271,320)	(29,141)	(12,461)		(313,102)
				49,273	49,273
Net book value
At 31December 2020	1,200,000			3,621	1,203,621
At 31 December 2019	545,849	136,562	9,004	4,448	695,863

		Listed	Investment	Total
		Investments	property
			E
Fair value at 1 January 2019		146,930	230,000	376,930
Disposals at carrying value		(60,856)		(60,856)
Change in value	in the year	63,296		63,296
Additions		1,100,000		1,100,000
Fair value at 31	December 2020	1,249,370	230,000	1,479,370

13	Debtors
			2020	2019
			F	F
	Other debtors		3,242	4,306
	Prepayments	and accrued income	1,699	5,521
			4,941	9,827

	2020	2019
Taxes and social security costs	2,025	1,761
Other creditors (see note 15)	7,000	8,775
Accruals	2,177	2,947
	11,202	13,483

'/0 ofpensionable	stipends	January 2018to	January 2021to
		December 2020	December 2022
Deficit repair contributions		11.9'/0	7,1'/o

		December 2020	December 2019	December 2018
Discount rate		0.2% pa	1.1%pa	2.1%pa
Price inflation Increase to total pensionable	payroll	3.1%pa 1.6% pa	2.8% pa 1.3%pa	3.1%pa 1.6% pa

							2020	2019
								F
Contributions	payable	by	the	company	forthe	year	1,860	2,419

			Unrestricted	Restricted	Total
			funds	funds
			E
Brought forward			1,106,107		1,106,107
Income in year			939,877		939,877
Expenditure	in year		(153,183)		(153,183)
Investment	gains	in year	63,296		63,296
Revaluation	Reserve - Property		857,000		857,000
Carried forward			2,813,097		2,813,097

Analysis ofnet	assets between funds
			Unrestricted	Total	Total
			funds	2020	2019
			E
Fund balances at	31 December 2020 are represented	by:
Tangible fixed assets			1,203,621	1,203,621	695,863
Investments			1,479,370	1,479,370	276,930
Current assets			141,308	141,308	146,797
Creditors: amounts	falling due within one year		(11,202)	(11,202)	(13,483)
Creditors: amounts	falling due after more than one year
			2,813,097	2,813,097	1,106,107

		Unrestricted	Restricted	Total
		Funds	funds	2019
Income and endowments	from:
Other donations and legacies		41,443		41,443
Investment income		16,120		16,120
		57,563		57,563
Income charitable activities		4,747		4,747
Total income		62,310		62,310
Expenditure on:
Raising funds		1,208		1,208
Charitable activities:
Ministry and teaching		198,920		198,120
Total expenditure		200,128		200,128
Net gains on investments		16,712		16,712
Net expenditure for the year and
Net movement in funds		(121,106)		(121,106)
Fund balances at 1 January	2019	1,227,213		1,227,213
Fund balances at 31 December 2019		1,106,107		1,106,107