| Page | ||||
|---|---|---|---|---|
| Reference and Administrative | Details | |||
| Report ofthe Trustees | 2 | to | 5 | |
| Report ofthe Independent Auditors |
6 | to | 9 | |
| Statement ofFinancial Activities | 10 | |||
| Statement ofFinancial Position | ||||
| Statement ofCash Flows | 13 | |||
| Notes to the Statement ofCash | Flows | |||
| Notes tothe Financial Statements | 15 | to | 23 |
| 31.12.21 | 31.12.20 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| fund | fund | funds | funds | ||||
| Notes | |||||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
318,078 | 318,078 | 152,046 | ||||
| Other trading activities | 556,673 | 556,673 | 610,317 | ||||
| Investment income |
17,493 | 17,493 | 5,130 | ||||
| Other income | 206,494 | 206,494 | 210 | ||||
| Total | 1,098,738 | 1,098,738 | 767,703 | ||||
| EXPENDITURE ON | |||||||
| Raising funds | |||||||
| Costs ofgenerating funds |
9,306 | 9,306 | 16,883 | ||||
| 9,306 | 9,306 | 16,883 | |||||
| Charitable activities |
|||||||
| Charitable activities |
451,274 | 451,274 | 429,685 | ||||
| Total | 460,580 | 460,580 | 446,568 | ||||
| Net gains/(losses) on |
investments | 158,182 | 158,182 | (107,367) | |||
| NET INCOME | 796,340 | 796,340 | 213,768 | ||||
| RECONCILIATION | OFFUNDS | ||||||
| Total funds brought | forward | 8,791,109 | 188,383 | 8,979,492 | 8,765,724 | ||
| TOTAL FUNDS CARRIED FORWARD | 9,587,449 | 188,383 | 9,775,832 | 8,979,492 |
| Statement ofFinancial Position 31December 2021 |
|||||
|---|---|---|---|---|---|
| 31.12.21 | 31.12.20 | ||||
| Unrestricted | Restricted | Total | Total | ||
| fund | fuild | funds | funds | ||
| Notes | |||||
| FIXEDASSETS | |||||
| Tangible assets | 14 | 6,676,403 | 6,676,403 | 7,153,531 | |
| Investments | 15 | 1,920,188 | 1,920,188 | 1,567,630 | |
| 8,596,591 | 8,596,591 | 8,721,161 | |||
| CURRENT ASSETS | |||||
| Debtors | 16 | 147,015 | 147,015 | 177,730 | |
| Cash at bank and in hand | 1,261,966 | 188,383 | 1,450,349 | 511,535 | |
| 1,408,981 | 188,383 | 1,597,364 | 689,265 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
17 | (418,123) | (418,123) | (430,934) | |
| NET CURRENT ASSETS | 990,858 | 188,383 | 1,179,241 | 258,331 | |
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 9,587,449 | 188,383 | 9,775,832 | 8,979,492 | |
| NET ASSETS | 9,587,449 | 188,383 | 9,775,832 | 8,979,492 | |
| FUNDS | 19 | ||||
| Unrestricted funds |
9,587,449 | 8,791,109 | |||
| Restricted funds | 188,383 | 188,383 | |||
| TOTAL FUNDS | 9,775,832 | 8,979,492 |
| 31.12.2] | 31.12.20 | |||
|---|---|---|---|---|
| Notes | ||||
| Cash flows from operating | activities | |||
| Cash generated from operations |
704,010 | 549,567 | ||
| Net cash provided by operating activities |
704,010 | 549,567 | ||
| Cash flows from investing | activities | |||
| Purchase oftangible fixed assets Purchase offixed asset investments Sale oftangible fixed assets |
(6,198) (194,376) 417,777 |
(10,380) (571,201) |
||
| Income from investments | 17,493 | 5,130 | ||
| Interest received | 108 | 209 | ||
| Net cash provided by/(used |
in) investing | activities | 234,804 | (576,242) |
| Change in cash and cash equivalents | in the | |||
| reporting period |
938,814 | (26,675) | ||
| Cash and cash equivalents | at the beginning | |||
| ofthe reporting period |
511,535 | 538,210 | ||
| Cash and cash equivalents | at the end | ofthe | ||
| reporting period |
1,450,349 | 511,535 |
| RECONCILIATION | OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIUITIES | ||
| 31.12.21 | 31.12.20 | |||
| Net income for the reporting | period (as per the Statement ofFinancial | |||
| Activities) | 796,340 | 213,768 | ||
| Adjustments for: |
||||
| Depreciation charges |
65,549 | 68,563 | ||
| (Gain)/losses on investments |
(158,182) | 107,367 | ||
| Investment income recognised |
in P&L | (17,493) | (5,130) | |
| Other interest received | (108) | (209) | ||
| Decrease in debtors | 30,715 | 189,704 | ||
| Decrease in creditors | (12,811) | (24,496) | ||
| Net cash provided by |
operations | 704,010 | 549,567 | |
| ANALYSIS OF CHANGES | IN NET FUNDS |
| At 1.1.21 | Cash flow | At 31.12.21 | |
|---|---|---|---|
| Net cash | |||
| Cash at bank and in hand | 511,535 | 938,814 | 1,450,349 |
| 511,535 | 938,814 | 1,450,349 | |
| Total | 511,535 | 938,814 | 1,450,349 |
| DONATI | ONS AND LEGACIES |
||||
|---|---|---|---|---|---|
| 31.12.21 | 31.12.20 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | flliids | funds | funds | ||
| Donations, | gifts and legacies | 280,084 | 280,084 | 122,376 | |
| Gift aid | 37,994 | 37,994 | 29,670 | ||
| 318,078 | 318,078 | 152,046 | |||
| OTHER TRADING ACTIVITIES | |||||
| 31.12.21 | 31.12.20 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Rental income | 552,729 | 552,729 | 610,317 | ||
| Rates income | 1,885 | 1,885 | |||
| Insurance | income | 2,059 | 2,059 | ||
| 556,673 | 556,673 | 610,317 | |||
| INVESTMENT INCOME | |||||
| 31.12.21 | 31.12.20 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| E | E | ||||
| Income from listed investments | 14,137 | 14,137 | 1,724 | ||
| Interest receivable | 3,356 | 3,356 | 3,406 | ||
| 17,493 | 17,493 | 5,130 | |||
| OTHER INCOME | |||||
| 31.12.21 | 31.12.20 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Gain on sale oftangible fixed assets | 175,213 | 175,213 | |||
| Sundry income | 2,686 | 2,686 | 210 | ||
| Release ofprovision | 28,595 | 28,595 | |||
| 206,494 | 206,494 | 210 |
| 7. | COSTSOF GENERATING FUNDS | COSTSOF GENERATING FUNDS | COSTSOF GENERATING FUNDS | COSTSOF GENERATING FUNDS | |||||
|---|---|---|---|---|---|---|---|---|---|
| 31.12.21 | 31.12.20 | ||||||||
| Unrestricted | Restricted | Total | Total | ||||||
| funds | flliids | funds | funds | ||||||
| Investment | management | and transaction | fees | 9,306 | 9,306 | 16,883 | |||
| 8. | CHARITABLE ACTIVITIES COSTS | ||||||||
| Direct | |||||||||
| Costs (see | |||||||||
| note 9) | |||||||||
| Charitable | activities | 451,274 | |||||||
| 9. | DIRECT | COSTS OF CHARITABLE | ACTIVITIES | ||||||
| 31.12.21 | 31.12.20 | ||||||||
| Staffcosts | 30,549 | 10,219 | |||||||
| Rent | 259,911 | 284,606 | |||||||
| Rates | 6,609 | 21,085 | |||||||
| Insurance | - various | 7,123 | 5,936 | ||||||
| Insurance | - general | 3,442 | 3,366 | ||||||
| Repairs and maintenance | 57,284 | 21,660 | |||||||
| Legal and | professional | 12,389 | 6,089 | ||||||
| Audit fees | 7,000 | 6,600 | |||||||
| Other office expenses | 1,251 | 1,205 | |||||||
| Bank charges and interest paid | 167 | 306 | |||||||
| Depreciation | 65,549 | 68,563 | |||||||
| 451,274 | 429,635 | ||||||||
| 10. | GRANTS | PAYABLE | |||||||
| 31.12.21 | 31.12.20 | ||||||||
| Charitable | activities | 50 | |||||||
| The total grants paid to institutions | during | the year was as | follows: | ||||||
| 31.12.21 | 31.12.20 | ||||||||
| London Church | 50 | ||||||||
| 11. | NET INCOME/(EXPENDITURE) | ||||||||
| Net income/(expenditure) | is stated after charging/(crediting): | ||||||||
| 31.12.21 | 31.12.20 | ||||||||
| Depreciation -owned assets |
65,549 | 68,563 | |||||||
| Rent | 259,911 | 284,606 | |||||||
| Surplus on | disposal offixed assets | (175,213) |
| 31.12.21 | 31.12.20 | |||||
|---|---|---|---|---|---|---|
| Wages and salaries | 27,493 | 10,219 | ||||
| Other pension | costs | 3,056 | ||||
| 30,549 | 10,219 | |||||
| The average monthly | number ofemployees | during the year was as follows: | ||||
| 31.12.21 | 31.12.20 | |||||
| Management | and administration | 1 | 1 | |||
| No employees | received emoluments | in excess of860,000. |
| TANGIBLE FIXEDASSETS | |||
|---|---|---|---|
| Fixtures, | |||
| Land and | fittings | ||
| buildings | &equipment | Totals | |
| COST | |||
| At 1 January 2021 | 6,543,499 | 1,122,203 | 7,665,702 |
| Additions | 6,198 | 6,198 | |
| Disposals | (417,657) | (120) | (417,777) |
| At 31December 2021 | 6,125,842 | 1,128,281 | 7,254,123 |
| DEPRECIATION | |||
| At 1 January 2021 |
144,975 | 367,196 | 512,171 |
| Charge for year | 4,608 | 60,941 | 65,549 |
| At 31 December 2021 | 149,583 | 428,137 | 577,720 |
| NET BOOKVALUE | |||
| At 31December 2021 | 5,976,259 | 700,144 | 6,676,403 |
| At 31December 2020 | 6,398,524 | 755,007 | 7,153,531 |
| Listed | |||
|---|---|---|---|
| investments | |||
| MARKET VALUE | |||
| At 1 January 2021 | 1,567,630 | ||
| Additions | 194,376 | ||
| Revaluations | 158,182 | ||
| At 31December 2021 | 1,920,188 | ||
| NET BOOK VALUE | |||
| At 31December 2021 | 1,920,188 | ||
| At 31 December 2020 | 1,567,630 | ||
| There were no investment | assets outside the UK. | ||
| Cost or valuation at 31December 2021 is represented |
by: | ||
| Listed | |||
| investments | |||
| Valuation in 2021 |
1,920,188 |
| DEBTORS | ||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| Amounts falling due within one year: |
||
| Trade debtors | 1,838 | |
| Other debtors | 3,712 | 3,712 |
| Gift Aid receivable | 38,035 | 29,764 |
| Other loans receivable | 10,000 | 82,120 |
| Rent deposits | 13,080 | 15,955 |
| Prepayments and accrued income |
40,425 | 44,341 |
| 105,252 | 177,730 | |
| Amounts falling due after more than one year: |
||
| Other loans receivable | 41,763 | |
| Aggregate amounts |
147,015 | 177,730 |
| 31.12.21 | 31.12.20 | |
|---|---|---|
| Trade creditors | 1,048 | 1,194 |
| Loan payable | 400,000 | 400,000 |
| Accruals and deferred income | 17,075 | 29,740 |
| 418,123 | 430,934 |
| 31.12.21 | 31.12.20 | |||||
|---|---|---|---|---|---|---|
| Within one year | 99,416 | |||||
| Between one | and five years | 216,350 | 194,750 | |||
| 216,350 | 294,166 | |||||
| MOVEMENT | IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1.1.21 | in funds | 31.12.21 | ||||
| Unrestricted | funds | |||||
| General fund | 8,791,109 | 796,340 | 9,587,449 | |||
| Restricted funds | ||||||
| Church planting | fund | 188,383 | 188,383 | |||
| TOTAL FUNDS | 8,979,492 | 796,340 | 9,775,832 | |||
| Net movement | in funds, included | in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |||
| resources | expended | losses | in funds | |||
| E | ||||||
| Unrestricted | funds | |||||
| General fund | 1,098,738 | (460,580) | 158,182 | 796,340 | ||
| TOTAL FUNDS | 1,098,738 | (460,580) | 158,182 | 796,340 |
| Net | ||||||||
|---|---|---|---|---|---|---|---|---|
| movement | At | |||||||
| At 1.1.20 | in funds | 31.12.20 | ||||||
| Unrestricted | funds | |||||||
| General fund | 8,577,341 | 213,768 | 8,791,109 | |||||
| Restricted funds | ||||||||
| Church planting | fund | 188,383 | 188,383 | |||||
| TOTAL FUNDS | 8,765,724 | 213,768 | 8,979,492 | |||||
| Comparative | net | movement | in funds, included | in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |||||
| resources | expended | losses | nl funds | |||||
| E | ||||||||
| Unrestricted | funds | |||||||
| General fund | 767,703 | (446,568) | (107,367) | 213,768 | ||||
| TOTAL FUNDS | 767,703 | (446,568) | (107,367) | 213,768 | ||||
| A current year 12months | and prior year 12months combined position is as follows: | |||||||
| Net | ||||||||
| movement | At | |||||||
| At 1.1.20 | in funds | 31.12.21 | ||||||
| Unrestricted | funds | |||||||
| General fund | 8,577,341 | 1,010,108 | 9,587,449 | |||||
| Restricted funds | ||||||||
| Church planting | fund | 188,383 | 188,383 | |||||
| TOTAL FUNDS | 8,765,724 | 1,010,108 | 9,775,832 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| Unrestricted | funds | ||||
| General fund | 1,866,441 | (907,148) | 50,815 | 1,010,108 | |
| TOTAL FUNDS | 1,866,441 | (907,148) | 50,815 | 1,010,108 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | 31 | |||||
| January | Incoming | Resources | December | |||
| 2021 | resources | expended | 2021 | |||
| Church | Planting | fund | 188,383 | 188,383 |