2021-12-31-accounts - The Joseph Rank Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Contents		Page
Legal and administrative	information
Report ofthe Trustees		3 to 10
Independent Auditor's report		11to 14
Statement offinancial activities		15
Balance sheet		16
Statement ofcash flows		17
Notes forming part ofthe	financial statements	18to 25
Grant commitments made	during the year	26 to 28

				2021			2020
			General	Methodist	Total	General	Methodist	Total
			Fund	Church	Funds	Fund	Church	Funds
				Fund			Fund
				(restricted			(restricted)
		Notes	X'000	K'000	Z OOO	K'000	K'000	f'000
Income from
Investment income		1(c)& 2	1,981	502	2,483	2,297	576	2,873
Donations				1	1		2	2
Total			1 981	503	2484	2297	578	2 875
Expenditure	on:
Charitable activities		3&4	2452	353	2,805	2,256	523	2,779
Total			2 452	353	2805	2256	523	2 779
Realised net gains on
disposal ofinvestments			2,952	795	3,747
Unrealised gains on
revaluation ofinvestments
			6,587	1,614	8,201	4,185	1,086	5,271
Net income and net
movement in	funds		9,068	2,559	11,627	4,226	1,141	5,367
Reconciliation	offunds:
Total funds	brought
forward			71320	16770	88 090	67094	15629	82723
Total funds carried forward			80388	19329	99717	71 320	16770	88 090

					2021			2020
				General	Methodist	Total	General	Methodist	Total
				Fund	Church	Funds	Fund	Church	Funds
					Fund			Fund
					restricted			restricted
				K'000	f'000	X'000	S'000	K'000	f.'000
			Notes
Fixed assets
Investments				81,124	20,475	101,599	71,579	18,114	89,693
Tangible	assets		10	I		1	1	-	1
				81 125	20475	101600	71 580	111114	89694
Current assets
Debtors				465	118	583	569	144	713
Cash at bank				1 278	~621	657	1435	~683	752
				1,743	(503)	1,240	2,004	(539)	1,465
Creditors
Amounts within	falling due one year			~2078	~556	~2634	1 914	~728	~2 642
Net current	assets (liabilities)			~335	~1059	~1394	90	~1267	~1177
Total assets	less	current
liabilities				80,790	19,416	100,206	71,670	16,847	88,517
Grants payable after more than one year				~402	~87	~489	~350	~77	~427
Net assets				80 388	19329	99717	71320	16770	88 090
Total funds
Unrestricted		funds		80,388		80,388	71,320		71,320
Restricted funds					19329	19329		16770	16770
				80388	19329	99717	71 320	16770	88 090

			2021	2020
			Total	Total
			Funds	Funds
			K'000	K'000
Cash used in
operating activities			{2749)	~2807
Cash flows from investing
activities
Investment income			2,612	2,807
Purchase offixed assets
Proceeds from sales	ofinvestments		20,100
Purchase ofinvestments			20 058
Cash provided by
investing activities			2 664	2 806
(Decrease)/increase	in cash	in the	(95)	(1)
year
Cash and cash equivalents		at the
beginning ofthe year			752	753
Total cash and cash equivalents
at the end ofthe year			657	752

Net movement in funds per
statement offinancial
activities	11,627	5,367
Gains on investments	(11,948)	(5,271)
Investment Income	(2,483)	(2,873)
Decrease in debtors	1
Increase/(decrease) in creditors	(8)	49
Increase/(decrease) in grants
due after 1 year	62	f779
Net cash used in operating
activities	~2749	~2807

					2021			2020
				General	Methodist	Total	General	Methodist	Total
				Fund	Church	Funds	Fund	Church	Funds
					Fund			Fund
					restricted)			restricted)
				K'000	K'000	f,'000	K'000	K'000	K'000
2.	Investment income
	Cash held within the portfolio						2		2
	Property Unit	Trusts					16		16
	Dividends			18	5	23
	Investment Fund Income			1 963	497	2460	2 279	576	2 855
				1 981	502	2483	2297	576	2 873
3.	Resources expended 2021
				Allocation	Charitable		Governance	2021
						activities	costs	Total
						&000	K'000	f,'000
	Costs directly	allocated to
	activities
	Grants committed		(net)	Direct		2,530		2,530
	Audit fee			Direct				11
	Support costs	allocated to
	activities
	Investment	management		Direct		64		64
	Premises			Area		11	1	12
	General office expenses			Usage		26	3	29
	Trustees'	expenses		Time		1	2	3
	Staff costs			T1Ille		140	16	156
						2 772	33	2 805
	General Fund							2,452
	Methodist	Church	Fund					353
								2 805

				Allocation	Charitable	Governance	2020
					activities	costs	Total
					K*000	K'000	X'000
Costs directly		allocated to
activities
Grants committed			(net)	Direct	2,603		2,603
Audit fee				Direct		10	10
Support costs		allocated to
activities
Premises				Area	11	1	12
General office expenses				Usage	16	2	18
Trustees'	expenses			Time	1	1	2
Staff costs				Time	115	19	134
					2746	33	2779
							2/56
General Fund
							523
Methodist		Church	Fund				2779

				2021			2020
			General	Methodist	Total	General	Methodist	Total
			Fund	Church	Funds	Fund	Church	Funds
				Fund			Fund
				restricted			(restricted
			f,'000	K'000	K'000	f.'000	f,'000	f,'000
5.	Net incoming	(outgoing) resources
for	the year
	These are stated after charging:
	Auditors'	remuneration				10		10
	Payments	under operating
	leases

				2021			2020
			General	Methodist	Total	General	Methodist	Total
			Fund	Church	Funds	Fund	Church	Funds
				Fund			Fund
				(restricted)			restricted
			K'000	f,'000	K'000	f'000	K'000	K'000
6.	Staff costs and numbers
	Salaries		131		131	113		113
	Social Security Life, Permanent	costs Health 4	12		12	10		10
	Medical Insurance		4		4	4		4
	Pension contributions		9		9	9		9
	(see note 16)		156		156	136		136

			2021			2020
		General	Methodist	Total	General	Methodist	Total
		Fund	Church	Funds	Fund	Church	Funds
			Fund			Fund
			restricted			restricted
		K*000	X'000	X'000	K'000	K'000	K'000
9.	Investments
	Market value at
	1"January 2021	71,579	18,114	89,693	67,392	17,030	84,422
	Additions	15,938	3,985	19,923
	Sales	(13,089)	(3,264)	(16,353)
	Increase in portfolio cash	108	27	135
	Adjustment to record market	6587	1 614	8201	4 187	1 084	5 271
	value ofinvestments
	Market value at
	31"December 2021
		81 123	20476	101599	71 579	18 114	119693
	Historical cost at
	31"December 2021	61 573	15363	76936	58615	14616	73231
	Investments	81,015	20,449	101,464	71,579	18,114	89,693
	Cash held within portfolios	108	27	135
	Market value at
	31"December 2021	81 123	20 476	101599	71 579	18 114	89693

Charities Investment	63,594	16,093	79,687	71,579	18,114	89,693
U14 listed shares	14,384	3,598	17,982
Overseas shares	2,323	580	2,903
Fixed income	714	178	892
Cash holdings	108	27	135
	81 123	20476	101599	71 579	18114	89693

					2021				2020
		General		Methodist		Total		General	Methodist	Total
		Fund		Church		Funds		Fund	Church	Funds
					Fund				Fund
				restricted					restricted
		f,'000			f.'000	K'000		f,'000	K'000	f,'000
10.	Tangible fixed assets
	Furniture &equipment
	Cost
	At 1"January 2021 Additions Disposal		21				21	21 1 ~1		21 1 ~1
	31"December 2021		21				21	21		21
	Depreciation
	At 1"January 2021		20				20	21
	Charge for the year
	On disposals
	At 31~ December 2021		20				20	20		20
	Net book value
	At 31"December 2021
	At 31"December 2020
11.	Debtors
	Investment income receivable		464		118	582		567	144	711
	Prepayments		1				1	2		2
			465		118	583		569	144	713
	Investment income receivable	is a financial	instrument		and is	measured	atpresent value.
12.	Creditors
	Amounts falling due within one
	year
	Taxation		4				4
	Creditors
	Accruals		11				11	9		9
	Grants payable	2	063		556	2619		1 901	728	2 629
		2	078		556	2634		1914	728	2 642

			2021			2020
		General	Methodist	Total	General	Methodist	Total
		Fund	Church	Funds	Fund	Church	Funds
			Fund			Fund
			restricted			restricted
		K'000	OOOO	K'000	f,'000	K'000	K'000
13.Grant commitments
Grant commitments	at
1"January 2021		2251	805	3056	2007	1 078	3 085
Grant commitments	made in
the year		2,285	398	2,683	2,195	655	2,850
Cancellations/recoveries		(96)	(57)	(153)	(116)	(131)	(247)
Grants paid		(1,975)	(503)	(2,478)	(1,835)	(797)	(2,632)
Movements in the year		214	~162	52	244	~273	~29
Grant commitments	at
31"December 2021		2465	643	3 108	2 251	805	3 056
Payable as follows:
Within one year		2,063	556	2,619	1,901	728	2,629
After more than	one
year		402	87	489	350	77	427
		2 465	643	3 108	2 251	805	3 056

EAST ANGLIA:
North Lynn Methodist Church					45,000
Ridley Hall, Cambridge					36,000
Community Chaplaincy Norfolk (over 3years)					30,000
StMary's Church, Ely					40,000
StPaul's Church, Clacton-on-Sea	(over		3years)		30,000
EASTANGLIA:					181,000	181,000
LONDON:
Gregory Centre for Church Multiplication				(over 3years)	45,000
Hoddesdon Parish Church (over 3		years)			30,000
StAndrew's Church, Langford					17,000
Diocese ofLondon Youth Ministry		(over 3years)			48,750
Just Love UK (over 3years)					22,500
Holy Trinity Church, Tulse Hill					35,000
Newham Youth for Christ (over	3	years)			30,000
YWAM, Harpenden					25,000
Oak London, Bethnal Green (over		3years)			30,000
Activate Sports Ministry, Teddington			(over 3years)		30,000
King's Cross Church					47,000
Christ Church, Bexleyheath (over		3years)			25,500
LONDON:					385,750	385,750
MIDLANDS:
Hope Methodist Church, Higham	Ferrers				45,000
Dunchurch Baptist Church					30,000
Newport Pagnall URC					25,000
StNicholas Church, Stretton					19,000
Kidlington Methodist Church					25,000
Amington Parish Church (over 3years)					30,000
StPhilip and StJames Church, Whittington					12,000
The Parish ofPenn Fields (over 3	years)				30,000
Evesham Baptist Church					25,000
MIDLANDS:					241,000	241,000
NORTHERN IRELAND:
Child Evangelism Fellowship, Belfast					35,000
Helping Hands, Portadown					25,000
StAndrew's Presbyterian Church,	Bangor				35,000
Comber Youth for Christ (over 3years)					30,000
Comber Youth for Christ					20,000
The Gathering, Belfast (over 3years)					30,000
Secretary to Conference, The Methodist		Church		in Ireland (over 3years)	60,000
NORTHERN IRELAND:					235,000	235,000
IRELAND:
Bray Methodist Church					23,000
Drimoleague Methodist Church (over 4years)					40,000
IRELAND:					63,000	63,000

	rhe	JOSeph 4R	ank trust
NORTH EAST:
Driffield and Hornsea Methodist	Circuit (over 3years)			37,500
York Schools and York Trust (over 3years)				30,000
Blackhill and Shotley Uniting Methodist		Church		50,000
NORTH EAST:				117,500	117,500
NORTH WEST:
Doncaster Minster				30,000
Brighouse Central Methodist Church				35,000
Hope Housing, Bradford The Church ofthe Holy 4 Undivided, Edale				25,000 15,000
Holy Trinity Church, StHelens	(over 3years)			30,000
Ignite Penrith (over 3years)				35,000
St John's Owlerton, Sheffield (over 3years)				30,000
Bolton Methodist Mission (over	3years)			37,500
Skipton Baptist Church				40,000
The Exodus Project, Barnsley				50,000
StThomas's Church, Kilnhurst	(over 3years)			24,000
South Lakeland Christian Trust	(over 3years)			37,500
NORTH WEST:				389,000	389,000
SCOTLAND:
Parish Nursing, The Steeple Church Dundee (over 3years)				45,000
Adelaide Place Baptist Church, Glasgow				30,000
Prison Fellowship Scotland (over 3years)				45,000
Survivors ofHuman Trafficking	in Scotland, Edinburgh		(over 3years)	37,500
Work Place Chaplaincy Scotland	(over 3years)			30,000
Chalmers Church, Edinburgh				35,000
Sandyhills Parish Church, Glasgow (over		3years)		22,500
Skene Parish Church, Aberdeen	(over 3years)			37,500
Sannox Christian Centre, Isle of	Arran			50,000
SCOTLAND:				332,500	332,500
SOUTH EAST:
Gosport Waterf'ront Baptist Church				20,000
StPatricks Church, Wallington				40,000
The PACE Trust, Bournemouth	(over 3years)			37,500
StWin&id's, Totton				40,000
StMatthew's Church, StLeonards-on-Sea		(over 3years)		30,000
Maidstone Churches Winter Shelter (over		3years)		22,500
StJohn's Church, Southbourne (over 3years)				30,000
StMary Westwell				20,000
StPeter's Church, Hextable				30,000
YADA, Ferring (over 3years)				30,000
Christian Youth Enterprises, Chidham				30,000
Sparkfish, Redhill (over 3years)				22,500
SOUTH EAST:				352,500	352,500

SOUTH WEST:
Gwithan Chapel, Hayle	10,000
Oriel Ministries, Launceston	30,000
Dawlish Christian Fellowship	40,000
Greyfriars Church, Reading	50,000
StLawrence, Bourton on the Hill	15,000
All Saints Church, Wokingham	35,000
StCyrs Church, Stinchcombe	20,000
SOUTH WEST:	200,000	200,000
WALKS:
Gilgal Baptist Church, Porthcawl	30,000
Glenwood Church, Cardiff	35,000
StPeter's Church, Rhoose	30,000
Ainon Baptist Church, Cardiff	25,000
Capel Bryn Iwan	5,000
Impact Schools Team, Powys (over 3years)	30,000
StElli Church, Llanelli	30,000
WALES:	185,000	185,000