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|CONTENTS|||PAGE|
|---|---|---|---|
|Information||||
|Report ofthe Directors|||4-15|
|Report ofthe Independent||Auditor|16 - 19|
|Statement<br>of Financial|Activities||20|
|Balance Sheet|||21|
|Statement ofCash Flows|||22|
|Notes to the Financial|Statements||23-37|





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|ADDRESS:||||Rawnsley<br>Centre|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Main Street|||||||||
|||||Keswick|||||||||
|||||Cumbria|||||||||
|||||CA12 5NP|||||||||
|REGISTERED||CHARITY NUMBER:||1083584|||||||||
|COMPANY|REGISTRATION||NO:|03913741|||||||||
|WORKING|NAME:|||Keswick Ministries|||||||||
|GOVERNING||DOCUMENT:||Memorandum<br>and Articles ofAssociation|||||||||
|TRUSTEES:||||Mr SAdam, Treasurer|||||||||
|||||Dr T Chester|||||||||
|||||Mr D Gascoigne|||||||||
|||||Mr S Hale|||||||||
|||||Mrs C Heath-Whyte|||||||||
|||||Dr J McQuoid,<br>Chairman|||(Appointed|23 April 2020)|||||
|||||Rev A Paine|||||||||
|||||Mrs A Putt|||||||||
|||||Mr M Salter|||||||||
|||||Rev Dr M Sleeman|||||||||
|||||Mr JTaylor|||||||||
|||||Mrs J Whitehouse|||||||||
|MINISTRY|DIRECTOR|||Rev Dr J Robson|||||||||
|&CEO:|||||||||||||
|COO:||||Mr D Sawday|||||||||
|COMPANY|SECRETARY:|||Mr SOverend|||||||||
|AUDITOR:||||Mazars LLP, One St Peter's|Square, Manchester,|||M2 3DE|||||
|ACCOUNTANTS:||||Robinson+<br>Co, Oxford Chambers,||New|Oxford Street, Workington,||||CA14 2LR||
|SOLICITORS:||||Anthony<br>Collins Solicitors LLP|||Ellis-Fermor||8 Negus|Limited|||
|||||134 Edmund<br>Street|||2 Devonshire||Avenue||||
|||||Birmingham|||Beeston, Notting ham||||||
|||||B32ES|||NG9 1DS||||||
|CHARITY OBJECTS:||||The Trust exists to promote|Bible Teaching at an annual<br>Convention|||||||in Keswick|
|||||and on other occasions with|the aim ofencouraging||||holy and|Biblical||life styles.|
|BANKERS:||||HSBC pic, 1 Market Square,|Penrith|CA11 7SN|||||||





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|Mr SAdam, Treasurer|||
|---|---|---|
|Dr T Chester,|||
|Mr D Gascoigne|||
|Mrs C Heath-Whyte|||
|Mr S Hale|||
|Mrs E McQuoid|(Resigned|23 April 2020)|
|Dr J McQuoid,<br>Chairman|(Appointed|23 April 2020)|
|Mr M Salter|||
|Rev A Paine|||
|Mrs A Putt|||
|Rev Dr M Sleeman|||
|Mr JTaylor|||
|Mrs J Whitehouse|||



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|||Note|Unrestricted|Restricted|Total|2019|
|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|Total funds|
|||||||(note 22)|
|Income and endowments|from:||||||
|Donations<br>and legacies|||1,114,491|618,948|1,733,439|2,927,109|
|Charitable<br>activities|||22,279||22,279|72,128|
|Other trading<br>activities|||5,730||5,730|32,095|
|Investments|||135,472||135,472|228,997|
|Rents and licence income|||18,417||18,417|81,993|
|Other|||37,741||37,741|16,388|
|Total|||1,334,130|618,948|1,953,078|3,358,710|
|Expenditure<br>on:|||||||
|Raising funds||5|73,760|104,144|177,904|178,184|
|Charitable<br>activities||4, 5|711,071|177,443|888,514|1,712,870|
|Total|||784,831|281,587|1,066,418|1,891,054|
|Net income|||549,299|337,361|'886,660|1,467,656|
|Revaluation<br>ofinvestment|property|9|157,500||157,500||
|Transfers<br>between<br>funds||16|1,358,976|(1,358,976)|||
|Net movement<br>in funds|||2,065,775|(1,021,615)|1,044,160|1,467,656|
|Reconciliation<br>offunds:|||||||
|Total funds brought<br>forward|||6,356,661|2,162,404|8,519,065|7,051,409|
|Total funds carried forward|||8,422,436|1,140,789|9,563,225|8,519,065|





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||||Note|Total|Total|
|---|---|---|---|---|---|
|||||Funds|funds|
|||||2020|2019|
|Fixed assets||||E||
|Tangible assets|||8|5,828,894|4,504,711|
|investments|||9|2,140,220|1,982,720|
|Deposits|||11|5,520|5,463|
|Total fixed assets||||7,974,634|6,492,894|
|Current assets||||||
|Debtors|||10|718,696|253,736|
|Cash at bank|and in hand||11|2,574,016|3,340,845|
|Total current|assets|||3,292,712|3,594,581|
|Liabilities||||||
|Creditors: amounts||falling due within one year|12|254,121|118,410|
|Net current|assets|||3,038,591|3,476,171|
|Total assets|less current liabilities|||11,013,225|9,969,065|
|Long Term Loans|||13|1,450,000|1,450,000|
|Total net assets orliabilities||||9,563,225|8,519,065|
|The funds ofthe charity:||||||
|Restricted<br>income funds|||15, 16,17|1,140,789|2,162,404|
|Unrestricted|funds —Designated||16,17|7,516,394|6,034,711|
|Unrestricted|funds —General||16,17|906,042|321,950|
|Total charity|funds|||9,563,225|8,519,065|



## 



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|||||||Note|2020|2019|
|---|---|---|---|---|---|---|---|---|
||||||||E|E|
|Cash provided<br>by operating<br>activities||||||21|463,597|1,423,471|
|Cash flows from investing|activities:||||||||
|Interest|||||||26,191|23,076|
|Rents from investments|||||||109,281|205,921|
|Purchase oftangible<br>fixed assets|||||||(1,365,841)|(196,720)|
|Cash (used in) Iprovided|by investing||activities||||(1,230,369)|32,277|
|Cash flows from financing|activities:||||||||
|Raising of borrowing||||||13||150,000|
|Net cash flows from financing||activities||||||150,000|
|(Decrease) increase<br>in cash|and|cash equivalents|||in the year||(766,772)|1,605,748|
|Cash and cash equivalents|at the beginning|||ofthe|year||3,346,308|1,740,560|
|Total cash and cash equivalents||at the|end ofthe year||||2,579,536|3,346,308|





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|ncome||||
|---|---|---|---|
|Donations|and legacies:|2020|2019|
|Legacies||453,962|10,799|
|Unrestricted|donations|660,529|1,089,603|
|Restricted|donations|618,948|1,826,707|
|||1,733,439|2,927,109|
|Investments:||2020f|2019<br>E|
|Interest received||26,191|23,076|
|Rental income||109,281|205,921|
|||135,472|228,997|





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|nalysis of|expenditur|e<br>on charitab|le<br>activities|||
|---|---|---|---|---|---|
||||Activities|||
||||undertaken|Support||
||||directly|costs|Total|
|Activity|||E|E|E|
|Restricted|funds|||||
|Missionary|Hospitality|Fund|250||250|
|Derwent Project|||28,970|148,223|177,193|
|Unrestricted|funds|||||
|Charitable|activities||256,476|306,582|563,058|
|Other|||71,174|76,839|148,013|
|Total|||356,870|531,644|888,514|



## 

||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support||
||||directly|costs|Total|
|Activity|||F|E||
|Restricted|funds|||||
|Missionary|Hospitality|Fund|16,414||16,414|
|Derwent Project|||92,197|154,058|246,255|
|Unrestricted|funds|||||
|Charitable|activities||910,790|334,676|1,245,466|
|Other|||113,261|91,474|204,735|
|Total|||1,132,662|580,208|1,712,870|





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||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|
||||||||F||
|Trustees|||||||~531|~glLG|
|Ministry|Director|(CEO)|&|Business|Director/COO|~11|64|~094 6|





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|8.<br>Fixed assets||||||
|---|---|---|---|---|---|
||Freehold<br>land|Freehold<br>land||||
||&buildings|&buildings|Equipment<br>&|Assets under||
||Centre|Rawnsley|Furniture|Construction|Total|
||E|||E||
|COST||||||
|At 1 January 2020|977,427|669,935|177,414|3,496,736|5,321,512|
|Additions|||6,865|1,358,976|1,365,841|
|Disposals||||||
|At 31 December 2020|977,427|669,935|184,279|4,855,712|6,687,353|
|DEPRECIATION||||||
|At 1 January 2020|499,250|169,647|147,904||816,801|
|Charge for the year|19,549|13,399|8,710||41,658|
|Disposals||||||
|At 31 December 2020|518,799|183,046|156,614||858,459|
|NET BOOK VALUE||||||
|At 31 December 2020|458,628|486,889|27,665|4,855,712|5,828,894|
|At 31 December 2019|478,177|500,288|29,510|3,496,736|4,504,711|





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|vestments||||||
|---|---|---|---|---|---|
|||Investment|Quoted|Unquoted||
|||Property|Investments|Investments||
|Basis ofvaluation||Fair Value|Valuation|Cost|Total|
||||F|F|F|
|Cost or valuation|at|||||
|1 January 2020||1,980,000|2,715|5|1,982,720|
|Disposals at cost|or|||||
|valuation||||||
|Gains on revaluation||157,500|||157,500|
|Transfer to current||||||
|assets||||||
|Cost or Valuation|at|||||
|31 December 2020||2,137,500|2,715|5|2,140,220|



## 


|Wholly owned subsidiary:|Wholly owned subsidiary:||
|---|---|---|
|Keswick Convention|Projects Ltd||
|Keswick Convention|Projects (Rawnsley)|Ltd|





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|ebtors|||||||
|---|---|---|---|---|---|---|
|||||2020||2019|
|||||||f.|
|Trade debtors||||4,323||5,656|
|Payments<br>in advance —accommodation||||63,551||52,166|
|Prepayments<br>and accrued|||income|583,526||167,871|
|Amounts<br>owed|by group undertakings|||1,107||28,043|
|Other debtors||||66,189|||
|||||718,696||253,736|
|ash and cash equivalents|||||||
|||||2020||2019|
|||||||E|
|Cash<br>in hand||||511,963||804,672|
|Notice deposits|(less than||three months)|2,062,053||2,536,173|
|Current asset||||2,574,016||3,340,845|
|||||2020||2019f|
|Longer term deposits||||5,520||5,463|
|Non-current<br>asset||||5,520||5,463|
|Total cash||||2,579,536||3,346,308|
|reditors: amounts||falling|due within one year||||
|||||2020||2019|
|Trade creditors||||125,674||30,540|
|Other creditors||||539||13,600|
|Accruals||||113,911||48,048|
|Deferred<br>income||||13,997||26,222|
|||||254,121||118,410|
|Deferred income|relates to deposits for centre bookings and course fees falling<br>in the||||next|financial year|
|Deferred<br>income|has|been|recognised as follows:||||
|||||2020||2019|
||||||E||
|Deferred<br>income brought<br>forward||||26,222||15,304|
|Released to income||during|the year|(24,137)||(15,304)|
|Received<br>during|the|year||11,912||26,222|
|Deferred<br>income carried forward||||13,997||26,222|



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|16.|Summary|offund|movements|||||||
|---|---|---|---|---|---|---|---|---|---|
||||Balance|Income|Expenditure|Gain|on|Transfers|Balance 31|
||||1 Jan 2020|||revaluation|of||December|
|||||||investment|||2020|
|||||||property||||
||Fund|||||||||
||Desi<br>nated|Funds||||||||
||Fixed Asset||5,734,711||41,658|157,500||1,365,841|7,216,394|
||Derwent Project|||||||||
||Fund||300,000||||||300,000|
||General<br>Funds||321,950|1,334,130|743,173|||(6,865)|906,042|
||Unrestricted|Funds|6,356,661|1,334,130|784,831|157,500||1,358,976|8,422,436|
||Restricted|Funds||||||||
||Missionary||1,009|2,765|250||||3,524|
||Hospitality|Fund||||||||
||Derwent Project||2,161,395|616,183|281,337|||(1,358,976)|1,137,265|
||Fund|||||||||
||Restricted|Funds|2,162,404|618,948|281,587|||1,358,976|1,140,789|
||Total Funds||8,519,065|1,953,078|1,066,418|157,500|||9,563,225|



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|17.<br>Analysis of net|assets between|funds|||||
|---|---|---|---|---|---|---|
|2020|Tangible|Investments|8|Net Current|Long Term|Total|
||Assets|Deposits||Assets/(liabilities)|Concessionary||
||||||Loan||
|Unrestricted—<br>designated|5,828,894|2,137,500||300,000|(750,000)|7,516,394|
|Unrestricted—||5,525||1,600,517|(700,000)|906,042|
|general|||||||
|Total unrestricted|5,828,894|2,143,025||1,900,517|(1,450,000)|8,422,436|
|Missionary<br>Hospitality<br>Fund||2,715||809||3,524|
|Derwent Project Fund||||1,137,265||1,137,265|
|Total restricted||2,715||1,138,074||1,140,789|
|Total funds|5,828,894|2,145,740||3,038,591|(1,450,000)|9,563,225|
|2019|Tangible|Investments||Net Current|Long Term|Total|
||Assets|||Assets|Concessionary||
||||||Loan||
|Unrestricted—<br>designated|4,504,711|1,980,000||300,000|(750,000)|6,034,711|
|Unrestricted—<br>general||5,468||1,016,482|(700,000)|321,950|
|Total unrestricted|4,504,711|1,985,468||1,316,482|(1,450,000)|6,356,661|
|Missionary<br>Hospitality<br>Fund||2,715||(1,706)||1,009|
|Derwent Project Fund||||2,161,395||2,161,395|
|Total restricted||2,715||2,159,689||2,162,404|
|Total funds|4,504,711|1,988,183||3,476,171|(1,450,000)|8,519,065|





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|21.|Reconciliatio|n<br>ofnet|move|ment<br>in funds|to net cash flow from|operating<br>activities||
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
||||||||E|
||Net income|for the reporting||period||886,660|1,467,656|
||Adjustments|in respect of:||||||
||Depreciation|charges||||41,658|43,191|
||Interest received<br>Rental income|||||(26,191)<br>(109,281)|(23,076)<br>(205,921)|
||(Increase)/Decrease||in debtors|||(464,960)|101,042|
||Increase<br>in|creditors||||135,711|40,579|
|||||||463,597|1,423,471|
|22.|Analysis of|changes|in net|funds||||
||||||At 1January|At 31 December||
||||||2020|Cash flows|2020|
||||||E|||
||Cash and cash equivalents||||3,346,308|(766,772)|2,579,536|
||Debt due after one year||||1,450,000||1,450,000|
||||||4,796,308|(766,722)|4,029,536|





## 

|2019SOFA compar|atives|||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||Funds|Funds|Funds|
||||f|F|f|
|Income and endowments||from:||||
|Donations<br>and legacies|||1,100,402|1,826,707|2,927,109|
|Charitable<br>activities|||72,128||72,128|
|Other trading<br>activities|||32,095||32,095|
|Investments|||228,997||228,997|
|Rents and licence income|||81,993||81,993|
|Other|||16,388||16,388|
|Total|||1,532,003|1,826,707|3,358,710|
|Expenditure<br>on:||||||
|Raising funds|||58,902|119,282|178,184|
|Charitable<br>activities|||1,450,201|262,669|1,712,870|
|Total|||1,509,103|381,951|1,891,054|
|Net income|||22,900|1,444,756|1,467,656|
|Revaluation<br>of investment||property||||
|Transfers<br>between|funds||150,589|(150,589)||
|Net movement<br>in funds|||173,489|1,294,167|1,467,656|
|Reconciliation<br>offunds:||||||
|Total funds brought|forward||6,183,172|868,237|7,051,409|
|Total funds carried|forward||6,356,661|2,162,404|8,519,065|