**Registered number: 04125328 Charity number: 1089344**
## **HARVEST COMMUNITY NETWORK**
**(A Company Limited by Guarantee)**
**UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Company, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 4|
|**Independent Examiner's Report**|5 - 6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8 - 9|
|**Statement of Cash Flows**|10|
|**Notes to the Financial Statements**|11 - 21|
**HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Trustees**
B Munro E Kapofu R Campbell K Rudman
## **Company registered number**
04125328
## **Charity registered number**
1089344
## **Registered office**
The Gospel Centre Wightman Road London N8 0LT
## **Principal operating office**
The Gospel Centre Wightman Road London N8 0LT
## **Company secretary**
K Rudman
## **Accountants**
Venthams Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS4 1DB
Page 1
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
The trustees present their annual report together with the financial statements of the company for the 1 January 2020 to 31 December 2020. The Annual Report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Activities undertaken to achieve objectives**
Throughout the year Harvest Community Network has undertaken many activities in the furtherance of its stated objectives and the trustees believe that these activities have provided public benefit both to members of the congregations and the wider community.
## **c. Main activities undertaken to further the company's purposes for the public benefit**
During the course of the year several donations to help individuals with particular needs have been made, including payments for counselling, relief of hardship and gifts to churches to aid the purchase of necessary equipment to run, for example soup kitchens, food banks and homeless shelters. Activities have also included the provision of training for young leaders to help equip and prepare them for future ministry and missions.
## **Achievements and performance**
## **a. Key performance indicators**
The charity received income of £740,049 (2019: £37,309) and incurred expenses of £33,871 (2019: £41,735) resulting in an increase in reserves of £706,178. Closing reserves were £713,155.
The trustees consider they should hold reserves of at least three months' expenditure as a buffer in the event of the income of the charity being reduced due to unforeseen circumstances. A significant donation was received from HCN Trustees Limited, a connected entity, as a result of the disposal of a property held by HCN Trustees Limited, on behalf of the charity. The charity has used some of these funds to acquire a new property for its own use.
## **b. Review of activities**
The charity continues to oversee the activities of all of the connected entities and churches within the Harvest Community Network by continuing to provide an improved and efficient administrative function.
Page 2
**HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Achievements and performance (continued)**
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **Structure, governance and management**
## **a. Constitution**
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 14 December 2000, amended to allow for charitable status on 18 September 2001.
The company is constituted under a Memorandum of Association dated 14 December 2000 and is a registered charity number 1089344.
The principal object of the company is to advance the Christian faith in The United Kingdom and other parts of the world. Also to relieve the distress for persons in the United Kingdom and other parts of the world who are in need or hardship or who are aged or sick.
## **b. Methods of appointment or election of trustees**
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum of Association.
## **c. Risk management**
The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
## **Future developments**
The charity intends to continue with its existing activities, in particular, focusing on the training and developing of young ministerial leaders for the future.
On 17th July 2020 a property owned by HCN Trustees Ltd was sold for £820,000.00. It is our intention to purchase three new properties with the proceeds. These new properties will be bought by the Harvest Community Network by transferring the monies from the HCN Trustees Ltd account when required.
One of the new properties was purchased on 18th December 2020 for £210,000 and the other two will be purchased next year.
Page 3
**HARVEST COMMUNITY NETWORK (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Statement of trustees' responsibilities**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial . Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of trustees and signed on their behalf by:
## **R Campbell**
Date: 7 July 2021
Page 4
# **HARVEST COMMUNITY NETWORK (A Company Limited by Guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Independent Examiner's Report to the Trustees of Harvest Community Network ('the company')**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2020.
## **Responsibilities and Basis of Report**
As the trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Page 5
**HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Independent Examiner's Statement**
Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's trustees as a body, for my work or for this report.
Signed:
Dated: 8 July 2021
Stuart Harrison FCA
## **Venthams**
Chartered Accountants Millhouse 32 - 38 East Street Rochford Essex SS4 1DB
Page 6
**HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Income from:**
Donations and legacies
2
Investments
3
**Total income**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net income/(expenditure) before taxation**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
**£**
**739,573**
**476**
**740,049**
**33,871**
**33,871**
**706,178**
**706,178**
**6,977**
**706,178**
**713,155**|**Total**
**funds**
**2020**
**£**
**739,573**
**476**
**740,049**
**33,871**
**33,871**
**706,178**
**706,178**
**6,977**
**706,178**
**713,155**|_Total_
_funds_
_2019_
_£_
_37,303_
_6_
_37,309_
_41,735_
_41,735_
_(4,426)_
_(4,426)_
_11,403_
_(4,426)_
_6,977_|
|---|---|---|---|
Page 7
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
12
**Total net assets**
**Charity funds**
Restricted funds
13
Unrestricted funds
13
**Total funds**|**5,500**
**495,988**
**501,488**
**(1,320)**|**2020**
**£**
**212,987**
**212,987**
**500,168**
**713,155**
**-**
**713,155**
**-**
**713,155**
**713,155**|_40,500_
_6,737_
_47,237_
_(7,815)_|_2019_
_£_
_957_
_957_
_39,422_
_40,379_
_(33,402)_
_6,977_
_-_
_6,977_
_6,977_|
|---|---|---|---|---|
Page 8
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **BALANCE SHEET (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
## **R Campbell**
Date: 7 July 2021
Page 9
**HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2020**
**£**
**701,627**
**(212,376)**
**(212,376)**
**-**
**489,251**
**6,737**
**495,988**|_2019_
_£_
_(1,563)_
_(1,048)_
**(1,048)**
**-**
**(2,611)**
_9,348_
_6,737_|
|---|---|---|
Page 10
**HARVEST COMMUNITY NETWORK**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **(A Company Limited by Guarantee)**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Harvest Community Network meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Company status**
The charity is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## **1.3 Income**
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
Page 11
**HARVEST COMMUNITY NETWORK**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **(A Company Limited by Guarantee)**
## **1. Accounting policies (continued)**
## **1.4 Expenditure (continued)**
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **1.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **1.6 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
- Freehold property Computer equipment - 33% straight line
## **1.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Page 12
**HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting policies (continued)**
## **1.10 Financial instruments**
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.11 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **2. Income from donations and legacies**
|**Unrestricted**
**funds**
**2020**
**£**
Subscriptions from churches
7,257
HCN Trustees Ltd
732,316
739,573
_Unrestricted_
_funds_
_2019_
_£_
Subscriptions from churches
_8,303_
HCN Trustees Ltd
_29,000_
_37,303_|**Total**
**funds**
**2020**
**£**
**7,257**
**732,316**
**739,573**
_Total_
_funds_
_2019_
_£_
_8,303_
_29,000_
_37,303_|
|---|---|
Page 13
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **3. Investment income**
|**Unrestricted**
**funds**
**2020**
**£**
Investment income - local investment properties
474
Investment income - local cash
2
476
_Unrestricted_
_funds_
_2019_
_£_
Investment income - local cash
_6_|**Total**
**funds**
**2020**
**£**
**474**
**2**
**476**|
|---|---|
||_Total_
_funds_
_2019_
_£_
_6_|
## **4. Analysis of grants**
|Grants, Harvest Community Network
Grants, Harvest Community Network|**Grants to**
**Institutions**
**2020**
**£**
5,778
_Grants to_
_Institutions_
_2019_
_£_
_7,585_|**Total**
**funds**
**2020**
**£**
**5,778**|
|---|---|---|
|||_Total_
_funds_
_2019_
_£_
_7,585_|
The company has made the following material grants to institutions during the year:
Page 14
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **4. Analysis of grants (continued)**
|**Name of institution**
International Life Centre
Frontline Production Ministries|**2020**
**£**
**5,778**
**-**
**5,778**|_2019_
_£_
_1,030_
_6,555_|
|---|---|---|
|||_7,585_|
## **5. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2020**
**£**
Harvest Community Network
33,871
_Unrestricted_
_funds_
_2019_
_£_
Harvest Community Network
_41,735_|**Total**
**funds**
**2020**
**£**
**33,871**|
|---|---|
||_Total_
_funds_
_2019_
_£_
_41,735_|
## **6. Analysis of expenditure by activities**
||**Activities**|**Grant**|||
|---|---|---|---|---|
||**undertaken**|**funding of**|**Support**|**Total**|
||**directly**|**activities**|**costs**|**funds**|
||**2020**|**2020**|**2020**|**2020**|
||**£**|**£**|**£**|**£**|
|Harvest Community Network|6,905|5,778|21,188|**33,871**|
Page 15
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **6. Analysis of expenditure by activities (continued)**
|Harvest Community Network
**Analysis of direct costs**
Ministry expenses
Ministry expenses
**Analysis of support costs**
Staff costs
Depreciation
Training
Office expenses
Loan interest paid
Legal fees
Governance costs|_Activities_
_undertaken_
_directly_
_2019_
_£_
_14,735_|_Grant_
_funding of_
_activities_
_2019_
_£_
_7,585_|_Support_
_costs_
_2019_
_£_
_19,415_
**Harvest**
**Community**
**Network**
**2020**
**£**
6,905
_Harvest_
_Community_
_Network_
_2019_
_£_
_14,735_
**Harvest**
**Community**
**Network**
**2020**
**£**
15,304
346
67
162
1,348
2,707
1,254
21,188|_Total_
_funds_
_2019_
_£_
_41,735_|
|---|---|---|---|---|
|||||**Total**
**funds**
**2020**
**£**
**6,905**|
|||||_Total_
_funds_
_2019_
_£_
_14,735_|
|||||**Total**
**funds**
**2020**
**£**
**15,304**
**346**
**67**
**162**
**1,348**
**2,707**
**1,254**
**21,188**|
Page 16
**HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **6. Analysis of expenditure by activities (continued)**
## **Analysis of support costs (continued)**
|Staff costs
Depreciation
Training
Office expenses
Loan interest paid
Governance costs|_Harvest_
_Community_
_Network_
_2019_
_£_
_15,404_
_91_
_101_
_166_
_2,344_
_1,309_
_19,415_|_Total_
_funds_
_2019_
_£_
_15,404_
_91_
_101_
_166_
_2,344_
_1,309_
_19,415_|
|---|---|---|
## **7. Independent examiner's remuneration**
|Fees payable to the company's independent examiner for the independent
examination of the company's annual accounts
**8.**
**Staff costs**
Wages and salaries|**2020**
**£**
**1,188**
**2020**
**£**
**15,304**
**15,304**|_2019_
_£_
_1,152_|
|---|---|---|
|||_2019_
_£_
_15,404_|
|||_15,404_|
The average number of persons employed by the company during the year was as follows:
||**2020**|_2019_|
|---|---|---|
||**No.**|_No._|
|Employee|**2**|_2_|
No employee received remuneration amounting to more than £60,000 in either year.
Page 17
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **9. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2020
Additions
At 31 December 2020
**Depreciation**
At 1 January 2020
Charge for the year
At 31 December 2020
**Net book value**
At 31 December 2020
_At 31 December 2019_
**10.**
**Debtors**
**Due within one year**
Other debtors
**11.**
**Creditors: Amounts falling due within one year**
Bank loans
Other creditors
Accruals and deferred income|**Freehold**
**property**
**£**
**-**
**212,376**
**212,376**
**-**
**-**
**-**
**212,376**
_-_||**Computer**
**equipment**
**£**
**1,048**
**-**
**1,048**
**91**
**346**
**437**
**611**
_957_
**2020**
**£**
**5,500**
**5,500**
**2020**
**£**
**-**
**35**
**1,285**
**1,320**|**Total**
**£**
**1,048**
**212,376**
**213,424**|
|---|---|---|---|---|
|||||**91**
**346**
**437**|
|||||**212,987**|
|||||_957_|
|||||_2019_
_£_
_40,500_
_40,500_
_2019_
_£_
_6,530_
_35_
_1,250_
_7,815_|
Page 18
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **12. Creditors: Amounts falling due after more than one year**
|Bank loans
**13.**
**Statement of funds**
**Statement of funds - current year**
**Unrestricted funds**
General Funds - all funds
**Statement of funds - prior year**
**Unrestricted funds**
General Funds - all funds|**Balance at 1**
**January**
**2020**
**£**
**6,977**
_Balance at_
_1 January_
_2019_
_£_
_11,403_|**Income**
**£**
**740,049**
_Income_
_£_
_37,309_|**2020**
**£**
**-**
**Expenditure**
**£**
**(33,871)**
_Expenditure_
_£_
_(41,735)_|_2019_
_£_
_33,402_|
|---|---|---|---|---|
|||||**Balance at**
**31**
**December**
**2020**
**£**
**713,155**|
|||||_Balance at_
_31_
_December_
_2019_
_£_
_6,977_|
Page 19
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **14. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2020**
**£**
Tangible fixed assets
212,987
Current assets
501,488
Creditors due within one year
(1,320)
**Total**
713,155
**Analysis of net assets between funds - prior period**
_Unrestricted_
_funds_
_2019_
_£_
Tangible fixed assets
957
Current assets
47,237
Creditors due within one year
(7,815)
Creditors due in more than one year
(33,402)
**Total**
6,977|**Total**
**funds**
**2020**
**£**
**212,987**
**501,488**
**(1,320)**
**713,155**
_Total_
_funds_
_2019_
_£_
_957_
_47,237_
_(7,815)_
_(33,402)_
_6,977_|
|---|---|
## **15. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the period (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
Decrease in debtors
Decrease in creditors
**Net cash provided by/(used in) operating activities**|**2020**
**£**
**706,178**
**346**
**35,000**
**(39,897)**
**701,627**|_2019_
_£_
_(4,426)_
_91_
_6,920_
_(4,148)_
_(1,563)_|
|---|---|---|
Page 20
## **HARVEST COMMUNITY NETWORK**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **16. Analysis of cash and cash equivalents**
|Cash in hand
**Total cash and cash equivalents**|**2020**
**£**
**495,988**
**495,988**|_2019_
_£_
_6,737_|
|---|---|---|
|||_6,737_|
## **17. Analysis of changes in net debt**
|Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year|**At 1**
**January**
**2020**
**£**
**6,737**
**(6,530)**
**(33,402)**
**(33,195)**|**Cash flows**
**£**
**489,251**
**6,530**
**33,402**
**529,183**|**At 31**
**December**
**2020**
**£**
**495,988**
**-**
**-**
**495,988**|
|---|---|---|---|
## **18. Related party transactions**
During the year, a salary of £5,244 (2019 - £5,244) was paid to P Campbell, wife of R Campbell, trustee of the charitable company. The salary was paid for her administrative services and is authorised by the provisions in the Memorandum of Association.
During the year, a salary of £9,360 (2019 - £9,360) was paid to B Munro, trustee of the charitable company.
During the year, a Christmas gift of £700 (2019 - £600) was paid to B Munro, trustee of the charitable company.
Page 21