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FESTNAL OF LIFE
IA Company LImIl￿ by Guardntso
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF FESTIVAL OF UFE ICONTINUEDI
Ro$pon$lbllitios of Iwsto
As explalned more luly in the trustees. responsibilib.eg stslemenl, the trustees I￿0 are also the dlreclorg of the
chartsble cornpany for the purposes of company lawl are responsible for the preparation of the financial
ststemenls and for ￿Ing satisfied that they give a true and fair view. and for $u¢h inlemal control as the
trustees determine is necessary to enable the prepar*'on of finan¢>al $tstements Ihat are free from material
misstatement, whether due to fraud or error.
In preparing the financial stslements. the trustees are responsible for a$￿$S1ng the charitable Company's ability
to continue as a going concem. disclosing. as applicable, matters related to going concern and using the going
concern basis of acccmjnting unless the trustees either intend to hquidate the tharttable company or to cease
operations, or have no reali5ts'c ajtemalive but to do 50.
Audltor¥' rg•pon•lbblltSe¥ for t￿ •udlt of tho fin•ncl•l ¥tst•menl¥
Our objecb.ves are lo obtain reasonable assurance at<Jul *thether the financial statements as a %thole are free
from material misslaternenl, whether due lo fraud or error. and to issue an aLtrdilor's report that includes our
opinion. Reasonable a$$uran¢e 1$ a high levd of as$uran¢e, bul 1$ not a guarantee that an audit conducted in
accordance wth ISA$ IUKI wll athys detect a material misstatement vthen it exists. Misstatements can arlse
from fraud or error and are considered material rf, indiwdualty or in the a9gregale, they could reasonably be
expected lo influence the eC0￿MiC deci￿On3 of users taken on the basis of these financial statement5.
Irrggularrtios. induding fraud. are instsn¢es of n¢y￿0MPlla￿8 with la￿ and regulali¢)ns. We design
procedures in line with our responsibilities, oullirled above, to detect material misstalemenls in respect of
irregularth'es, Including fraud. The extent to wthich our procedures are capable of detectin9 irregularities,
including fraud 1$ detailed below.
Enquiry of management, those charged *ilh govemance around actual and potent￿1 I￿gats.0n and claims,.
Enquiry of entity staff to identify any instances of non4ompliance v•th18ws and regulatlons.,
Reviewng minutes of meebngs ol those charged wth govemance..
Reviewing financial statement disclosures and testing lo supporting documentation lo assess compliance
th applicable laws and regulations.
Perforniing audit over the risk of management override of contro15, including testsng of journal entries
and olher adjustments for appropriateness. evaluating the l)usiness r*ionale of significant transactions
outside the nornial course of business and revieir¥J accowbbng estKnates for bras.
Because ol the inherent limitations of an audrt, there is a nsk that V+ill not detect all irregularities, including
those leading lo a matefial misglalement in the financial statements or non<omplian¢e wth regulation. This
risk Increases the more that compliance wlh a law or regulation is remove(l from the events and transactions
fle¢ted in the finan¢ial $lalemenl$. as ￿ will be le$$ likely to become •Yare of in$tan¢es ol non<omplianc&.
The risk is also greater regarding irregulanbes occurring due to fraud rather than error, as fraud involves
intentional concealmenl. forgery. Co1￿810n, omiS￿n or misrepresentahon.
A fvrther de5￿1p￿.0n of our resp)nsibilth"e$ 1$ avaikableon the Finanual Repo￿n9 Coun¢il'g websrte at
httpS.'l￿.frC.Org.uk1our-worklAudiuAudlt-an￿aSsU1a￿CeISta￿dards-and-gUid3n¢e-foT-auditOrS}AuditOrs-
responsibilth.es-for4udit￿esC[lpti0r1*0f-aUdftOrS-reSponsibi￿e$-fOr-audit.aspx. This description forms part of our
auditor's report.
Page 8

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||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2020|2020|2019|
|||Note||||
|Income and Endowments|from:|||||
|Donations<br>and legacies|||884,937|884,937|1,232,142|
|Other trading<br>activities|||||8,061|
|Investments|||||12|
|Total income|||884,943|884,943|1,240,215|
|Expenditure<br>on:||||||
|Charitable<br>activities|||483,541|483,541|1,398,470|
|Total expenditure|||483,541|483,541|1,398,470|
|Net movement<br>in funds|||401,402|401,402|(158,255)|
|Reconciliation<br>offunds:||||||
|Total funds brought<br>forward|||900,285|900,285|1,058,540|
|Net movement<br>in funds|||401,402|401,402|(158,255)|
|Total funds carried forward|||1,301,687|1,301,687|900,285|





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||||Note|2020f|2020|2019|2019<br>F|
|---|---|---|---|---|---|---|---|
|Tangible fixed assets|||14|||||
|Current assets||||||||
|Debtors|||15|569,916||615,031||
|Cash at bank and|in|hand||747,909||312,822||
|Total current assets||||1,317,825||927,853||
|Creditors: amounts||falling due within one||||||
|year|||16|(16,138)||(27,568)||
|Net current assets|||||1,301,687||900,285|
|Total assets less|current liabilities||||1,301,687||900,285|
|Net assets/(liabilities)|||||1,301,687||900,285|
|Total net assets|||||1,301,687||900,285|
|Charity funds||||||||
|Unrestricted<br>funds|||18||1,301,687||900,285|
|Total funds|||||1,301,687||900,285|





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|||2020|2019|
|---|---|---|---|
|Cash flows from operating<br>activities||||
|Net cash used<br>in operating<br>activities||401,402|(158,255)|
|Decrease/(increase)<br>in debtors||45,115|25,923|
|Increase/(decease)<br>in creditors||(11,430)|(23,669)|
|Interest and Dividends||(6)|(12)|
|Cash flows from investing<br>activities||||
|Dividends,<br>interests<br>and rents from investments|||12|
|Net cash provided<br>by investing<br>activities|||12|
|Change<br>in cash and cash equivalents<br>in|the year|435,087|(156,001)|
|Cash and cash equivalents<br>at the beginning|ofthe year|312,822|468,823|
|Cash and cash equivalents<br>at the end of|the year|747,909|312,822|
|The notes on pages 13to 25 form part ofthese financial statements||||





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||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2020|2020|2019|
|Dontions<br>and Legacies||||
|Partners<br>Donations|878,261|878,261|958,929|
|Parish Contributions|69,186|69,186|95,695|
|Other Donations|6,777|6,777|13,229|
|Offering|16,277|16,277|81,510|
|Thanksgiving|8,896|8,896|25,201|
|CSRlncome|1,738|1,738||
|Gift Aid|(96,198)|(96,198)|30,000|
|FOL Manchester|||27,578|
|Total 2020|884,937|884,937|1,232,142|





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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020|2020|2019|
|Stalls|Income|||8,061|
|Total|2019|8,061|8,061||



|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020|2020|2019|
|||F|||
|Bank|Interest|||12|
|Total|2019|12|12||





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|||||2020|2019|
|---|---|---|---|---|---|
|Charitable<br>Activities||||||
|Rent Expenses|||||319,752|
|Ministry Expenses||||5,294|30,011|
|Stalls|||||3,359|
|Protocol|||||824|
|Honoraria||||25,750|14,820|
|Technical/Production|Costs|||58,660|297,029|
|Partners Costs||||6,301|10,832|
|Other Festival Costs|||||666|
|Grants (See Note 8)||||15,580|17,500|
|Choir Expenses|||||823|
|FOL Manchester|||||216,008|
|Youth Event||||20,346|64,129|
|CSR||||65,137|19,565|
|Professional<br>Fees|and Services|||8,743|4,107|
|Staff Costs||||786||
|Support and Governance||Costs (See Note 7 )||276,944|399,045|
|Total Expenditure|on Charitable||Activities|483,541|1,398,470|





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|7.|Support and Governance|Support and Governance|Costs|||
|---|---|---|---|---|---|
|||||2020|2019|
||Support and Governance||Costs|||
||Telephone|||1,413|1,543|
||Advertising<br>Expenses|||1,740|8,170|
||Staff Costs|||213,815|229,605|
||Transport<br>Expenses|||96||
||Professional<br>Fees|||11,515|15,533|
||Bank Charges|||3,439|4,883|
||Website Expenses|||9,156|9,730|
||Insurance<br>Expenses|||30||
||Travel Expenses|||1,993|18,101|
||Sundry Expenses||||2,403|
||Staff Training<br>and Development|||53|2,702|
||Volunteer<br>Expenses|||3,505||
||Auditors'<br>Remuneration|||2,880|2,880|
||IT and Communications|Expenses||16,447|5,541|
||Contractors Fees and Services|||4,160||
||Equipment<br>Rental/Lease|||175||
||Bad Debts|||2,916||
||Suspense Account|||(305)||
||Office and Administrative||Costs|3,856|16,007|
||Postage Expenses|||60|8,101|
||Security Services||||54,948|
||Hospitality<br>Expenses||||18,898|
|||||276,944|399,045|



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||Grants to|Total|Total|
|---|---|---|---|
||Institutions|funds|funds|
||2020|2020|2019|
||||F|
|Grants to Charities|15,580|15,580|17,500|
|Total 2019|17,500|17,500||





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|The Charity|has made the following<br>material<br>grants|to institutions<br>during the year:||
|---|---|---|---|
|||2020|2019|
|Name of institution||||
|CLOJ Brazil|||5,000|
|FOL Russia|||10,000|
|Compassion|UK|13,080||
|Hope UK||2,500|2,500|
|Total||15,580|17,500|
|Total Grants||15,580|17,500|



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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2020|2020|2019|
|||||F|
|Charitable|Activities|467,961|467,961|1,380,970|
|Grants||15,580|15,580|17,500|
|Total 2020||483,541|483,541|1,398,470|
|Total 2019||1,398,470|1,398,470||





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|||Activities|Grant||||
|---|---|---|---|---|---|---|
|||undertaken|funding<br>of|Support|Total|Total|
|||directly|activities|costs|funds|funds|
|||2020|2020|2020|2020|2019|
||||E||||
|Charitable|Activities|191,018||276,943|467,961|1,380,970|
|Grants|||15,580||15,580|17,500|
|||191,018|15,580|276,943|483,541|1,398,470|
|Total 2019||1,055,771|17,500|325,199|1,398,470||



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|The auditors'<br>Staff costs|remunerat|ion<br>amount|s<br>to an auditor fee of F2,880 (20|19 - F2,880).||
|---|---|---|---|---|---|
|||||2020|2019|
|Wages and|Salary Cost|||||
|Gross Wages||||190,573|193,644|
|Social security costs||||15,372|13,223|
|Contribution|to defined|contribution|pension schemes|6,868|7,348|
|Total||||212,813|214,215|



||||2020|2019|
|---|---|---|---|---|
||||No.|No.|
|Staff Numbers|||||
|Key Management||Personnel|||
|Administrative|Staff||||
|Total|||10||





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|||2020|2019|
|---|---|---|---|
||||F|
|Due within one year||||
|Other debtors||196,114|241,257|
|Prepayments|and accrued income|373,802|373,774|
|||569,916|615,031|



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|||||2020|2019|
|---|---|---|---|---|---|
||Creditors|||||
||Trade creditors|||6,623|6,460|
||Other taxation and social||security|5,245|6,860|
||Other creditors|||1,390|6,590|
||Accruals and deferred|income||2,880|7,658|
||Total Creditors|||16,138|27,568|
|17.|Financial instruments|||||
|||||2020|2019|
||Financial assets|||||
||Financial assets measured||at fair value|747,909|312,822|





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|Statement of||funds - current year||||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1||||31|
||||January||||December|
||||2020f|Income|Expendituref||2020|
|Unrestricted|funds|||||||
|General Funds||- all funds|900,285|884,943|(483,541)||1,301,687|
|Statement of||funds - prior year||||||
||||||||Balance at|
||||Balance at||||31|
||||1 January||||December|
||||2019|Income|Expenditure||2019|
||||F|F||F||
|Unrestricted|funds|||||||
|General Funds||- all funds|1,058,540|1,240,215|(1,398,470)||900,285|



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|Analysis|of n|et ass|ets|between funds - current pe|riod||
|---|---|---|---|---|---|---|
||||||Unrestricted|Total|
||||||funds|funds|
||||||2020|2020|
|Current|assets||||1,317,825|1,317,825|
|Creditors|due|within|one|year|(16,138)|(16,138)|
|Total|||||1,301,687|1,301,687|





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|Analysis|of n|et ass|ets|between funds - prior period|||
|---|---|---|---|---|---|---|
||||||Unrestricted|Total|
||||||funds|funds|
||||||2019|2019|
|||||||F|
|Current|assets||||927,853|927,853|
|Creditors|due|within|one|year|(27,568)|(27,568)|
|Total|||||900,285|900,285|



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