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|---|---|---|
|Company
information|||
|Directors' report||3-9|
|Auditors'
Report||10-13|
|Consolidated
and Charity Statement of Financial|Activities|14|
|Consolidated
and Charity Statement of Financial|Position|15|
|Consolidated
Cash Flow Statement||16|
|Notes to the accounts||17-25|
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|||||Unrest-|Desig-||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||ricted|nated|Restricted|Group|Group|Charity|Charity|
||||Note|Fund|Fund|Fund|2021|2020|2021|2020|
|||||f|||||f|f|
|income and Expenditure|||||||||||
|Incoming Resources|||||||||||
|Incoming
resources|from generated||||||||||
|funds:|||||||||||
|Voluntary
income:|||||||||||
|Dollatlolts
and legacies|||2|1,545,666|||1,545,666|1,658,646|1,498,045|1,623,646|
|||||1,545,666|||1,545,666|1,658,646|1,498,045|1,623,646|
|Incoming
resources|from|charitable|||||||||
|actisities;|||||||||||
|Book shop||||589|||589|1,246|589|1,246|
|htvestment
inconte||||34334|||34,234|72,986|34,234|72,986|
|Gain/loss
on tmsgible|assets|||653,660|||653,660||653,660||
|Trading income||||2,388|||2,388|240|||
|Total Incomiag Resources||||2,236,537|||2,236,537|1,733,118|2,186,528|1,697,878|
|Expenditure|||||||||||
|Raising fuuds|||9|4,086|||4,086|6,672|4,086|6,672|
|Trading Expenses|||6|66,778|||66,778|46,402|||
|Charitable
activities|||7|1,788,871|||1,788,871|1,663,500|1,788,871|1,663,500|
|Total Expenditure||||1,859,735|||1,859,735|1,716,574|1,792,957|1,670,172|
|Net Inconte/(expenditure)||and net||376,802|||376,802|16,544|393,571|27,706|
|movements
in funds|for the||yenr||||||||
|Reconciliation
offunds|||||||||||
|Total Funds Broughi|Forward||at 01/01/2021|6,057,842|||6,057,842|6,041,298|6,504,665|6,476,959|
|Total Funds Carried|Forward||at 31/12/2021|6,434,644|||6,434,644|6,057,842|6,898,236|6,504,665|
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||||||Group|Group|Chiatty|Charity|
|---|---|---|---|---|---|---|---|---|
|||||Note|2021|2020|2021|2020|
|||||||8|||
|Fiscd Assets|||||||||
|Tangible Assets||||13|5,894,383|7,532,920|4,705,613|6,304,443|
|Invcstnicnts||||14|||300|300|
||||||5,894,383|7,532,920|4,705,913|6,304,743|
|Current Assets|||||||||
|Imlentoi y
Trade receivables||||15|162,374|332,705|1,866,764|2,031,236|
|Cash at Bank|and in Hand||||2,434,001|513,510|2,369,386|488,579|
||||||2,596,375|846,215|4,236,150|2,519,815|
|Creditors;
Amounts||falling|due||||||
|within one||year||16|419,775|454,860|407,488|453,460|
|Net Current|Assets||||2,176,600|391,355|3,828,662|2,066,355|
|Total Assets|Less Current||Liabilities||8,070,983|7,924,275|8,534,575|8,371,098|
|Creditors: Amounts||falling|due over|17|1,636,339|1,866,433|1,636,339|1,866,433|
|one|year||||||||
|Nct Aasets|||||6,434644|6,057,842|6,898,236|6,504,665|
|Represented|By:||||||||
|15Ion-Charitabl
Trading Funds||||20|(463,592)|(446,823)|||
|Uni'cstrictcd|I'unds|||18|6,898,236|6,504,665|6,898,236|6,504,665|
||||||6.434,644|6,3757.842|6,898,236|6.504.665|
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||||||2021|2020|
|---|---|---|---|---|---|---|
|Cash used in operating|activities||||||
|Net movemenit
in funds|||||376,802|16,544|
|Add back depreciation|||||222,309|261,973|
|Deduct profit on disposals|||||(653,660)||
|Deduct interest income|||||||
|in investing
activities|||||(36)|(50)|
|Add interest paid|||||59,638|69,864|
|(Iucrcase)
decrease in stocks||||||2,500|
|(Increase) Decrease in debtors|||||170,331|410,744|
|Increase (decrease) in creditors|||||(35,085)|(3,689)|
||||||140,299|757,886|
|Cash flows from investing||activities|||||
|Purchase oftangible fixed||assets|||(38,590)|(844,346)|
|interest income|||||36|50|
|Interest paid|||||(59,638)|(69,864)|
|Cash provided
by (used|in)||investing||||
|nctivities|||||(98,192)|(914,160)|
|Cash flows from finnncing|||activities||||
|New loans in year|||||||
|Repayment
ofborrowing|||||(230,094)|(212,167)|
|Proceeds ofsale offixed|assetts||||2,108,478|318,193|
|Cash used in financing|nctivities||||1,878,384|106,026|
|Increase (decrease) in cash||and cash|||||
|equivalents
in the year|||||1,920,491|(50,248)|
|Cash and cash equivalents||at the|||||
|beginning
ofthe year|||||5i13,510|563,758|
|Total cash and cnsh equivalents||||at the end|||
|ofthc year|||||2,434,001|513,510|
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|||||||Group|Cilarltv|Group|Charity|
|---|---|---|---|---|---|---|---|---|---|
|||||||2021|2021|2020|2020|
|||||||Unrestricled|Unrestricted|Unrestricted|Unreshicted|
||||||||E|E|f.|
|2.Donations|and|Legacies||||||||
|Donations||||||1,220,912|1,220,912|1,214,155|1,214,155|
|Gilt Aid||||||164,699|164,699|203,007|203,007|
|Business Rates||||||47,621||45,000|10,000|
|Coronavirus|Job Retention|||Schenie||112,434|112,434|196,484|196,484|
|||||||1,545,666|1,498,045|1,658,646|1,623,646|
|||||||Group|Cbanty|Group|Charity|
|||||||2021|2021|2020|2020|
|3.Shop income||||||Unrestricted|13nrestricted|Unrestricted|Unrestricted|
|||||||E|f.|f.|E|
|Shop income||||||589|589|1,246|1,246|
|||||||589|589|1,246|1,246|
|||||||Group|Charity|Group|Charily|
|||||||2021|2021|2020|2020|
|4. Investment|Income|||||Umestricted|Unrestricted|Unrestncted|Unrestricted|
|||||||E|E|E||
|Doposit account|||mtercst|||36|36|50|50|
|Rent Received||||||34,198|34,198|72,936|72,936|
|||||||34,234|34,234|72,986|72,986|
|5.Gain/loss|- sale oftangible||||assets|2021|2021|2020|2020|
||||||||f,|||
|Net book|value||1 January|2021||1,454,818|1,454,818|||
|Net sale proceeds||||||2,108,478|2,108,478|||
|Gain/loss||||||653,660|653,660|||
|6.Trading income|||and Costs|||||||
|||||||2021|2021|2020|2020|
|||||||||E|f.|
|Trading hicome||||||2,388||240||
|Administration||||||(66,778)||(46,402)||
|Government||grant received||||47,621||35,000||
|||||||(19,157)||(11,402)||
|Operating|Profit/(Loss)|||||(16,769)||(11,162)||
|Progit/(I.|oss)|||||(16,769)||(11,162)||
##
|7,|Cost ofcharitable|activities|activities||||||
|---|---|---|---|---|---|---|---|---|
|||||Uiuestricted|Designated|Restricted|Total|Total|
||||||||2021|2020|
|||||6|||||
||8taifCosts|||539,792|||539,792|523,989|
||Social Security cost|||50,192|||50,192|45,244|
||Employer's
pension|cost||38,029|||38,029|38,635|
||Rent and rates|||8,079|||8,079|3,537|
||Insurance|||18,800|||18,800|13,325|
||Staft'medical
and life||insurance|49,322|||49,322|26,289|
||Light and heat|||22,8100|||22,800|24,329|
||Telephone|||13318|||13/18|14,607|
||Post, stationety
and|software||8,880|||8,880|1.0,009|
||Mission and ministry||giRs|102,730|||102,730|71,530|
||Christmas
celebration|||56,974|||56,974|53,322|
||Ministry
expenses|||193,177|||193177|144,709|
||Traiiung expenses|||71,570|||71,570|58,260|
||Service charges|||15,303|||15,303|17,953|
||Repmrs and maintenance|||76,497|||76,497|95,513|
||TV and radio broadcast|||99,842|||99,842|103,987|
||Outreach events|||52,866|||52,866|56,059|
||Easter celebration|||1,176|||1,176||
||New year celebration|||9,994|||9,994|6,198|
||Convention|||28,169|||28,169|2,694|
||Subscriptions|||16,149|||16,149|10,561|
||Depreciation
-fixtures &fittings|||50,723|||50,723|48,495|
||Depreciation
- fi'eehold property|||129,136|||129,136|167,962|
||Depreciation
—plant|&machinery||2,743|||2,743|6,008|
||Mortgage
interest|||59,638|||59,638|69,864|
||Advertising|||6,366|||6,366|6,998|
||Governance
cost inote 8)|||66,706|||66,706|43,423|
|||||l,788,871|||1,788,871|1,663,500|
|||||Unrestricted|Designated|Restricted|Toial|Total|
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
|8.|Governance||costs||||||
||Auditor's|remeneration||7,500|||7,500|6,6(10|
||1 egal and|professional||42,910|||42,910|20,388|
||Bank charges|||16,296|||16,296|16,435|
|||||66,706|||66,706|43,423|
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|9,|Cost ofraising funds|Unrestricted|Des2gnated|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||||2021|2020|
|9.|1 Book Shop||||f|E|
||Opening
stock|||||2,500|
||Purchases|4,086|||4,086|4,172|
||Closmg Stock||||||
||Total|4,086|||4,086|6,672|
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|||||Crroup|Group|Charity|Chrndty|
|---|---|---|---|---|---|---|---|
|12. Stafl' Costs||||2021|2020|2021|2020|
||||||I,||I,|
|Solrndes||||539,792|523,989|539,792|523,989|
|Employer's
National
Pension costs||Insurance||50,192
38,029|45,244
38,635|50,192
38,029|45,244
38,635|
|||||6266II|607,868|628,013|607,868|
|Thc average number||ofemployees|analysed|by function wos||||
|||||2021|2020|||
|Charity||||18|18|||
|Subsidiary|Undertakmgs|||3||||
|||||21|21|||
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|Fixed Assets|||||
|---|---|---|---|---|
||Fuminirc||||
||Fixtures &|Freehold|||
||Equipment|Pmperty|Mac iunery|Total|
||||6|6|
|Cost|||||
|At I January 2021|957,027|9,933,482|435,956|]1,326,465|
|Addition|12,926|21,719|3,945|38,590|
|Disposals|(753,560)|(1,963,023)|(401,012)|(3,117,595)|
|At 31 Deceniber 2021|216,393|7,992,178|38,889|8,247,460|
|Depreciation:|||||
|At I January 2021|873,188|2,487,110|433,247|3,793,545|
|Charge for the year|53,284|166,282|2,743|222,309|
|Disposals|(753,560)|(508,205)|(401,012)|(1,662,777)|
|At 31 December 2021|172,912|2,145,187|34,978|2,353,077|
|Net BookVnlue:|||||
|At 31 December 2021|43,481|5,846,991|3,911|5,894,383|
|At 31 December 2020|83,839|7,446,372|2,709|7,532,920|
|Fixed Asset lavestmcnt|||Subsidiary||
||||Underlaking|Total|
||||Shares||
||||6||
|Cost|||||
|At 31 December 2021|||300|300|
|At 31December 2020|||300|300|
##
|15|Trade Receivables||||||||
|---|---|---|---|---|---|---|---|---|
||||||Group|Group|Charity|Charity|
||||||2021|2020|2021|2020|
||||||6|6|f.|6|
||Amounts
owed by
Other debtors|group|undertakings||120,744|312,008|1,704,390
120,744|1,699,338
312,008|
||Prepayments||||41,630
162,374|20,697
332,705|41,630
1,866,764|19,890
2,031,236|
|16|Creditors:
Amounts|falling|due within|one year|||||
||||||Group|Group|Charity|Charity|
||||||2021|2020|2021|2020|
||||||f.|6|f.|6|
||Bank loans and overdrat)s||||187,506|285,417|187,506|285,417|
||Trade creditors||||77,315|18,470|66,428|18,470|
||Other Taxes &.Social Security||||28,473|34,917|28,473|34,917|
||Other creditors||||23,634|4,260|23,634|4,260|
||Deferred income||||11,740|7,555|11,740|7,555|
||Accrued expenses||||91,107
419,775|104,241
454,860|89,707
407,488|102,841
453,460|
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|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||f|f.|f.|f|
|Bmdi|Loans|1,636,339|1,866,433|1,636,339|18,666,433|
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||||Balance|Illcoill1llg|Resources|Transfers|Balance|
|---|---|---|---|---|---|---|---|
||||At|Resources|Expended||At|
|||01/Ol/2021|||||31/12/2021|
||||6||||6|
|Unrestricted||funds||||||
|General|fund||6,504,665|2,186,528|1,792,957|(900,000)|5,998,236|
|Michael|Oloware Legacy||funii|||150,000|150,000|
|Building repairs fund
Branches fund||||||600,000
150,000|600,000
150,000|
|Total funds|||6,504,665|2,186,528|1,792,957||6,898,236|
|19. Analysis of Net Assets Between Funds
Restricted|Unrestricted|Non
Chantable|1)esignated|Revaluation|Total|
|---|---|---|---|---|---|
|||Trading Funds||||
|f.|I|f,||||
|Curreni Assets|3,828,662|(1,652,062)|||2,176,600|
|Fixed Assets|4,705,613|1,188,770|||5,894,383|
|l,oan|(1,636,339)||||(1,636,339)|
|Investment|300|(300)||||
||6,898,236|(463,592)|||6,434,644|
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|A sunimury|oft|he results o|f the subsi|diories
are slioni&|bolow:||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Gateway|Vista||Neiv Wine||Gateway|V&stn||Neiv Wu&c|
||||Incorporated||Hospitality||Control||Incorporated|Hospitality||Central|
|||||Lt&I|Lid||Ltd||Ltd|Ltd||Ltd|
|||||2021|2021||2021||2020|2020||2020|
|||||E.|||||f||||
|Trading Income||||2,388|||||240||||
|Administrntion||||(66,778)|||||(46,402)||||
|Other operatuig||income||47,621|||||35,000||||
|||||(19,157)|||||(11,402)||||
|Opcrnth&g Profit/(Loss)||||(16,769)|||||(11,162)||||
|Surplus||||(16,769)|||||(11,162)||||
|Thc aggregate ofthe assets,
A&acts|||liabilities|nnd funds were;
1253,185||||100|1,254.015||100||
|L&abilities||||(1,711&,677)|||||(1,700,738)||||
|Shareholder|Fmuls|||(463,492)||100||100|(446,723)||100|100|
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