| Page | ||
|---|---|---|
| Reference and administrative details ofthe Company, |
its Trustees and advisers | |
| Trustees' report |
||
| Trustees' responsibilities statement |
||
| Independent auditors' report on the financial statements |
10-13 | |
| Consolidated statement offinancial activities |
14 | |
| Consolidated balance sheet |
15 | |
| Company balance sheet |
16 | |
| Consolidated statement ofcash flows |
17 | |
| Notes tothe financial statements | 18-33 |
| Trustees | F H Clark | ||||||
|---|---|---|---|---|---|---|---|
| SG Clelland, | Chair | ||||||
| A Farrands | |||||||
| HJLaw | |||||||
| Company | registered | ||||||
| number | 04627969 | ||||||
| Charity registered | |||||||
| number | 1096068 | ||||||
| Registered | office | 11Foxcote | Avenue | ||||
| Peasedown | StJohn | ||||||
| Bath | |||||||
| BA2 8SF | |||||||
| Chief executive officer | A Todd | ||||||
| Independent | auditors | Bishop Fleming | LLP | ||||
| Chartered | Accountants | ||||||
| Statutory Auditors | |||||||
| 10Temple | Back | ||||||
| Bristol | |||||||
| BS16FL |
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Note | 2022 F |
2022 | 2022f | 2021 | ||
| INCOME FROM: | ||||||
| Donations and legacies |
539,716 | 128,470 | 668,186 | 848,063 | ||
| Charitable activities |
158,945 | 158,945 | 226,696 | |||
| Other trading activities |
3,?11,630 | 3,711,630 | 2,450,?49 | |||
| TOTAL INCOME | 4,251,346 | 28?,415 | 4,538,761 | 3,525,508 | ||
| EXPENDITURE ON: | ||||||
| Raising funds | 2,895,645 | 385 | 2,896,030 | 1,96?,955 | ||
| Charitable activities |
1,451,475 | 236,490 | 1,687,965 | 1,190,101 | ||
| TOTAL EXPENDITURE | 4,347,120 | 236,875 | 4,583,995 | 3,158,056 | ||
| NET MOVEMENT | IN FUNDS | (95,774) | 50,540 | (45,234) | 36?,452 | |
| RECONCILIATION | OF FUNDS: | |||||
| Total funds brought | forward | 929,638 | 929,638 | 562,186 | ||
| Net movement in funds |
(95,774) | 50,540 | (45,234) | 367,452 | ||
| TOTAL FUNDS CARRIED FORWARD | 833,864 | 50,540 | 884,404 | 929,638 |
| Note | 2022f | 2021 | ||||
|---|---|---|---|---|---|---|
| FIXEDASSETS | ||||||
| Tangible assets | 10 | 212,341 | 111,905 | |||
| 212,341 | 111,905 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 12 | 548,007 | 212,765 | |||
| Cash at bank and | in hand | 455,849 | 991,655 | |||
| 1,003,856 | 1,204,420 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 13 | (204,543) | (214,187) | |||
| NET CURRENT ASSETS | 799,313 | 990,233 | ||||
| TOTAL ASSETS | LESSCURRENT | |||||
| LIABILITIES | 1,011,654 | 1,102,138 | ||||
| Creditors: amounts | falling due after more | |||||
| than one year | 14 | (127,250) | (172,500) | |||
| TOTAL NET ASSETS | 884,404 | 929,638 | ||||
| CHARITY FUNDS | ||||||
| Restricted funds |
15 | 50,540 | ||||
| Unrestricted funds |
15 | 833,864 | 929,638 | |||
| TOTAL FUNDS | 884,404 | 929,638 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | ||||||
| FIXEDASSETS | ||||||
| Tangible assets | 10 | 136,185 | 21,322 | |||
| Investments | 11 | 1,000 | 1,000 | |||
| 137,185 | 22,322 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 12 | 440,450 | 380,086 | |||
| Cash at bank and | in hand | 264,427 | 432,694 | |||
| 704,877 | 812,780 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 13 | (178,903) | (63,777) | |||
| NET CURRENT ASSETS | 525,974 | 749,003 | ||||
| TOTAL ASSETS LESSCURRENT | ||||||
| LIABILITIES | 663,159 | 771,325 | ||||
| TOTAL NET ASSETS | 663,159 | 771,325 | ||||
| CHARITY FUNDS | ||||||
| Restricted funds | 15 | 50,540 | ||||
| Unrestricted funds |
||||||
| General funds | 15 | 612,619 | 771,325 | |||
| Total unrestricted | funds | 15 | 612,619 | 771,325 | ||
| TOTAL FUNDS | 663,159 | 771,325 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| CASH FLOWS FROM OPERATING | ACTIVITIES | |||
| Net cash used in operating activities |
(355,612) | 374,595 | ||
| CASH FLOWS FROM INVESTING | ACTIVITIES | |||
| Dividends, interests and rents from |
investments | 3,677 | 8,457 | |
| Purchase of tangible fixed assets | (138,871) | (6,090) | ||
| NET CASH (USED IN)/PROVIDED | BYINVESTING ACTIVITIES | (135,194) | 2,367 | |
| CASH FLOWS FROM FINANCING | ACTIVITIES | |||
| Repayments of borrowing |
(45,000) | (7,500) | ||
| NET CASH USED IN FINANCING ACTIVITIES |
(45,000) | (7,500) | ||
| CHANGE IN CASH AND CASH EQUIVALENTS |
IN THE YEAR | (535,806) | 369,462 | |
| Cash and cash equivalents at the beginning ofthe year |
991,655 | 622,193 | ||
| CASH AND CASH EQUIVALENTS | AT THE END | OF THE YEAR | 455,849 | 991,655 |
| The notes on pages 18to33form part ofthese financial statements |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2022 | 2022 f. |
2022f | 2021 | ||
| Donations | 519,154 | 128,470 | 647,624 | 378,655 | |
| Covid Grants | 303,525 | ||||
| Government | Grants | 20,562 | 20,562 | 165,883 | |
| 539,716 | 128,470 | 668,186 | 848,063 | ||
| TOTAL 2021 | 691,677 | 156,386 | 848,063 |
| Restricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 F |
2022f | 2021 | ||
| PETRA | project | 158,945 | 158,945 | 216,696 |
| Grants | 10,000 | |||
| 158,945 | 158,945 | 226,696 |
| Unrestricted | Total | Total |
|---|---|---|
| funds | funds | funds |
| 2022 | 2022 | 2021 |
| E. | E | |
| 3,684,847 | 3,684,847 | 2,450,749 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2021 | ||
| F | ||||
| Other | income | 26,783 | 26,783 |
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Support | Total | Total | ||
| directly | costs | funds | funds | ||
| 2022f | 2022 | 2022f | 2021 E |
||
| Charitable | activities | 1,269,692 | 418,273 | 1,687,965 | 1,190,101 |
| TOTAL 2021 | 898,511 | 291,590 | 1,190,101 |
| Total | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Shop rental costs | 413,095 | 397,656 | |
| Shop rates | 13,390 | 24,375 | |
| PETRA rental costs | 109,724 | 110,739 | |
| PETRA rates and other costs | 28,495 | 35,919 | |
| Action Pantry project | 102,737 | 25,705 | |
| CEBU projects | 602,251 | 304,117 | |
| 1,269,692 | 898,511 | ||
| ANALYSIS OF SUPPORT COSTS | |||
| Support | Total | Total | |
| Activities | funds | funds | |
| 2022 | 2022 | 2021 | |
| Staff costs | 265,839 | 265,839 | 207,610 |
| Depreciation | 5,361 | 5,361 | 4,732 |
| Staff training | 5,676 | 5,676 | 1,356 |
| General maintenance |
59,?03 | 59,703 | 21,866 |
| Hotels, travel and subsistence | 18,920 | 18,920 | 6,153 |
| Printing, postage and stationery |
5,393 | 5,393 | 1,375 |
| Legal and professional | 21,173 | 21,173 | 16,455 |
| Sundryexpenses | 16,108 | 16,108 | 10,233 |
| Events and fundraising | 2,9?2 | 2,972 | 2,502 |
| Information technology |
8,589 | 8,589 | 2,776 |
| Accounting services |
4,100 | 4,100 | 10,971 |
| Cleaning | 762 | 762 | 415 |
| Bank Fees and Interest | 3,677 | 3,677 | 5,146 |
| 418,273 | 418,273 | 291,590 |
| 2022 | 2021f | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fees | payable | to | the | Company's | auditor | for | the | audit | ofthe | Company's | ||
| annual | accounts | 19,700 | 17,000 |
| Group | Group | Company | Company | |||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||||
| E | F | K | ||||||
| Wages and | salaries | 1,914,660 | 1,383,956 | 247,229 | 193,765 | |||
| Social security costs | 116,199 | 68,541 | 15,425 | 11,215 | ||||
| Contribution | to defined | contribution | pension | ' | ||||
| schemes | 25,928 | 16,337 | 3,185 | 2,630 | ||||
| 2,056,787 | 1,468,834 | 265,839 | 207,610 |
| Group | Group | Company | Company | |
|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |
| No. | No, | No. | No. | |
| Employees | 132 | 123 | 19 | 12 |
| Long-terin | ||||
|---|---|---|---|---|
| leasehold | Motor | Fixtures and | ||
| property | vehicles | fittings | Total | |
| E | ||||
| COST OR VALUATION | ||||
| At 1 January 2022 | 12,600 | 180,725 | 193,325 | |
| Additions | 130,000 | 8,871 | 138,871 | |
| Disposals | (12,600) | (66,029) | (78,629) | |
| At 31 December 2022 | 130,000 | 123,567 | 253,567 | |
| DEPRECIATION | ||||
| At 1 January 2022 | 10,879 | 70,541 | 81,420 | |
| Charge for the year | 1,517 | 14,626 | 16,143 | |
| On disposals | (10,879) | (45,458) | (56,337) | |
| At 31 December 2022 | 1,517 | 39,709 | 41,226 | |
| NET BOOK VALUE | ||||
| At 31 December 2022 | 128,483 | 83,858 | 212,341 | |
| At 31 December 2021 | 1,721 | 110,184 | 111,905 |
| Long-term | ||||
|---|---|---|---|---|
| leasehold | Motor | Fixtures and | ||
| property F |
vehicles | fittings | Totalf | |
| COST OR VALUATION | ||||
| At 1 January 2022 | 12,600 | 32,768 | 45,368 | |
| Additions | 130,000 | 1,872 | 131,872 | |
| Disposals | (12,600) | (22,763) | (35,363) | |
| At 31 December 2022 | 130,000 | 11,877 | 141,877 | |
| DEPRECIATION | ||||
| At 1 January 2022 | 10,879 | 13,167 | 24,046 | |
| Charge for the year | 1,517 | 3,844 | 5,361 | |
| On disposals | (10,879) | (12,836) | (23,715) | |
| At 31 December 2022 | 1,517 | 4,175 | 5,692 | |
| NET BOOK VALUE | ||||
| At 31 December 2022 | 128,483 | 7,702 | 136,185 | |
| At 31 December 2021 | 1,721 | 19,601 | 21,322 |
| Investments | |
|---|---|
| in | |
| subsidiary | |
| COMPANY | companiesf |
| COST OR VALUATION | |
| At 1 January 2022 | 1,000 |
| At 31 December 2021 | 1,000 |
| NET BOOK VALUE | |
| At 31 December 2021 | 1,000 |
| 1,000 | |
| At 31 December 2020 |
| Name | Company | Registered office or principal | Principal | activity | ||
|---|---|---|---|---|---|---|
| number | place ofbusiness | |||||
| Mercy in | Action Trading | 11025273 | Jubilee Centre, Lower Bristol | Retail Sales | ||
| Road, Bath, United Kingdom, | ||||||
| BA29ES | ||||||
| Class of | Holding | Included | in | |||
| shares | consolidation | |||||
| Ordinary | 100% | Yes |
| he fin | anc | ial res |
ults of the subsidia | ry for the year were: |
|||
|---|---|---|---|---|---|---|---|
| Name | Income f |
Expenditure f |
Profit/(Loss) for the yearf |
Net assetsf | |||
| Mercy | in | Action | Trading | 3,711,630 | (3,313,438) | 398,192 | 222,245 |
| Group | Group | Company | Company | ||
|---|---|---|---|---|---|
| 2022f | 2021 f |
2022 f |
2021 f |
||
| DUE WITHIN | ONE YEAR | ||||
| Trade debtors | 99,432 | 16,283 | 80,978 | 2,174 | |
| Amounts owed by group undertakings |
164,304 | 283,119 | |||
| Other debtors | 154,682 | 26,959 | 20,349 | 26,959 | |
| Prepayments | and accrued income | 206,024 | 77,962 | 174,819 | 67,834 |
| Tax recoverable | 87,869 | 91,561 | |||
| 548,007 | 212,765 | 440,450 | 380,086 |
| Group | Group | Company | Company | ||
|---|---|---|---|---|---|
| 2022f | 2021 | 2022f | 2021 | ||
| Bank loans | 45,250 | 45,000 | |||
| Trade creditors | 49,431 | 29,577 | 18,992 | 12,088 | |
| Amounts owed to group undertakings |
27,699 | ||||
| Other taxation and social security | 29,295 | 59,177 | 119,597 | 3'l,421 | |
| Other creditors | 46,413 | 44,677 | 5,615 | 5,869 | |
| Accruals and deferred | income | 34,154 | 35,756 | 7,000 | 14,399 |
| 204,543 | 214,187 | 178,903 | 63,777 |
| Group | Group | ||
|---|---|---|---|
| 2022 | 2021f | ||
| Bank | loans | 127,250 | 172,500 |
| Included within the above are amounts falling due as follows |
: | |
|---|---|---|
| Group | Group | |
| 2022 | 2021 | |
| BETWEEN ONE AND TWO YEARS | ||
| Bankloans | 45,000 | 45,000 |
| BETWEEN TWO AND FIVE YEARS | ||
| Bank loans | 82,250 | 127,500 |
| STATEMENT | OF FUNDS - CURREN | T YEAR | |||
|---|---|---|---|---|---|
| Balance at | |||||
| Balance at 1 | 31 | ||||
| January | December | ||||
| 2022 | Income | Expenditure | 2022 | ||
| UNRESTRICTED FUNDS | |||||
| General Funds | - all funds | 771,325 | 539,716 | (698,422) | 612,619 |
| Mercy ln Action | Trading | 158,313 | 3,711,630 | (3,648,698) | 221,245 |
| 929,638 | 4,251,346 | (4,347,120) | 833,864 | ||
| RESTRICTED | FUNDS | ||||
| Cebu Project | 124,757 | (124,757) | |||
| PETRA Housing Project |
160,758 | (110,218) | 50,540 | ||
| Other Projects | 1,900 | (1,900) | |||
| 287,415 | (236,875) | 50,540 | |||
| TOTAL OF FUNDS | 929,638 | 4,538,761 | (4,583,995) | 884,404 |
| STATEMENT O | F FUNDS - PRIOR Y | EAR | |||
|---|---|---|---|---|---|
| Balance at | |||||
| Balance at | 31 | ||||
| 1 January | December | ||||
| 2021 | Income | Expenditure | 2021 | ||
| F | |||||
| UNRESTRICTED FUNDS | |||||
| General Funds | 379,809 | 546,356 | (154,840) | 771,325 | |
| Mercy In Action | Trading | 114,337 | 2,596,070 | (2,552,094) | 158,313 |
| 494,146 | 3,142,426 | (2,706,934) | 929,638 | ||
| RESTRICTED FUNDS | |||||
| Cebu Project | 68,040 | 77,737 | (145,777) | ||
| PETRA Housing | Project | 241,760 | (241,760) | ||
| Other Projects | 63,585 | (63,585) | |||
| 68,040 | 383,082 | (451,122) | |||
| TOTAL OF FUNDS | 562,186 | 3,525,508 | (3,158,056) | 929,638 |
| Group | Group | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||||
| Net income/expenditure |
for | the | year | (as | per | Statement | of Financial | ||||
| Activities) | (45,234) | 367,452 | |||||||||
| ADJUSTMENTS FOR: | |||||||||||
| Depreciation | charges | 16,143 | 20,530 | ||||||||
| Dividends, interests |
and | rents from | investments | (3,677) | (8,457) | ||||||
| Loss on the | saic offixed | assets | 14,706 | ||||||||
| Decrease/(increase) | in debtors | (335,242) | 6,929 | ||||||||
| Decrease in |
creditors | (2,308) | (11,859) | ||||||||
| NET CASH | PROVIDED | BY/(USED | IN) OPERATING ACTIVITIES | (355,612) | 374,595 |
| Group | Group | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| F | ||||||
| Cash in hand | 455,849 | 991,655 | ||||
| TOTAL CASH | AND CASH | EQUIVALENTS | 455,849 | 991,655 | ||
| ANALYSIS OF CHANGES | IN NET DEBT | |||||
| Ai1 | Other non- | At 31 | ||||
| January | cash | December | ||||
| 2022 | Cash flows | changesf | 2022 | |||
| F | ||||||
| Cash at bank and in hand | 991,655 | (535,806) | 455,849 | |||
| Debt due within 1 year |
(45,000) | (2,664) | 2,414 . | (45,250) | ||
| Debt due after | 1 year | (1'72,500) | 45,250 | (127,250) | ||
| 774,155 | (538,470) | 47,664 | 283,349 |
| OPERATING LE | ASE COMMITMENTS | ASE COMMITMENTS | |||||
|---|---|---|---|---|---|---|---|
| At 31 December | 2022 the Group and the | Company had commitments to |
make future |
minimum lease |
|||
| payments under non-cancellable |
operating | leases as follows: | |||||
| Group | Group | Company | Company | ||||
| 2022 | 2021 | 2022 | 2021f | ||||
| Not later than 1 year |
462,642 | 407,323 | 462,642 | 407,323 | |||
| Later than 1 year | and not later than 5years | 1,189,696 | 880,705 | 1,189,696 | 880,705 | ||
| Later than 5years | 536,865 | 502,008 | 536,865 | 502,008 | |||
| 2,189,203 | 1,790,036 | 2,189,203 | 1,790,036 |