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2020-08-31-accounts

THE NAVIGATORS UK LIMITED

A Company Limited by Guarantee

Company no. 04429021

Charity Registered in England & Wales no. 1099148 Charity Registered in Scotland no. SC038484

ANNUAL REPORT AND ACCOUNTS

31 August 2020

THE NAVIGATORS UK LIMITED

ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020

CONTENTS
Page
Report of the Trustees
Objectives and Activities 1
Achievements and Performance 3
Financial Review 5
Plans for Future Periods 7
Structure, Governance and Management 7
Reference and Administrative Information 10
Statement of Trustees' Responsibilities 11
Independent Auditor's Report to the Trustees 12
Statement of Financial Activities 15
Balance Sheet 16
Statement of Cash Flows 17
Accounting Policies 18
Notes to the Accounts 19-25

THE NAVIGATORS UK LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020

The trustees present their annual report and audited financial statements of The Navigators UK Limited (‘the Charity’ or ‘Navigators UK’) for the year ended 31 August 2020. The trustees have adopted the provisions of the Statement of Recommended Practice applicable to charities, preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102).

Chair’s Report

Navigators UK is financially stable and has diversified support. Historically we have had significant unrestricted reserves and therefore have spent six years setting deficit budgets in order to invest in growing the ministry and meeting key needs. In 2019/20 we received significant gifts that have taken us back over our target maximum reserves. This is very timely in putting us in a good position to weather the CV-19 storm.

Covid-19 heavily impacted ministry and leadership from March 2020 onwards due to reduced access to people and reduced capacity where Navigator representatives needed to school children at home. We have not seen any significant reduction in financial support to our representatives but we are monitoring the situation closely. We will use reserves to make very short-term discretionary grants to support any representative who gets into severe financial difficulty whilst they fundraise or find alternative ministries.

We have received a legacy of a house from someone who had a long-term involvement with the Navigators. This is a significant asset and a great centre for ministry in London. We are fully committed to maintaining the house in its disciplemaking ministry out of respect and gratitude to the donor. The house will also generate, in the medium term, a net cash surplus from rent minus expenses.

.

The budget for 2019/20 will again be a deficit budget. We have ceased any significant central fundraising because of our strong cash position.

At 31 August 2020 we had 80 Navigator self-employed representatives and 37 volunteer Navigator associates.

OBJECTIVES AND ACTIVITIES

The main objective of the Charity is the advancement of the Christian religion in the UK and overseas through evangelism, teaching, mentoring, training and the production and distribution of materials. We are committed to helping people come to know Christ, to live as Christ’s disciples in society and to be equipped to help others to do the same. This is expressed in our calling : ‘ To advance the gospel of Jesus and his kingdom into the nations through spiritual generations of labourers living and discipling among the lost’.

Our core values and vision have been identified and these provide the foundation for our strategy for ministry. Throughout our ministry we will continue our focus on

THE NAVIGATORS UK LIMITED

2

Report of the trustees for the year ended 31 August 2020 (continued)

Public Benefit

The trustees have had due regard to the Charity Commission’s guidance on public benefit.

Fundraising Activity

The Charity’s fundraising approach is based on building personal relationships with donors and potential donors, inspiring those who share our goals to want to partner in our work both financially and through prayer. Self-employed Navigator representatives are responsible for raising their own financial support; the Charity can provide them with information packs and fundraising materials to help them in this.

Fundraising to support central Charity costs is normally overseen by the National Fundraising Team, which comprises two trustees and members of the National Leadership Team. The Charity does not use commercial fundraisers. There has been minimal new central fundraising activity due to our strong financial situation.

Supporters are thanked appropriately and their data is kept secure. We do not sell or share supporter data for marketing purposes. We have not received any complaints about our fundraising activity.

Key Strategies

The key strategies employed to achieve our main objectives for the public benefit are:

• To see people constantly growing in their practical knowledge of Jesus founded on what the Bible teaches so that their lives are being changed to reflect Jesus’ love for others.

• To see this personal transformation having an impact on those around them so others are drawn into this same way of living out that love for others as a consequence of their own personal encounters with God.

• To enable those who join this ministry to be trained both in a greater depth of understanding and in ways of sharing their lives with others so they in turn would have a similar impact.

Activities

The Charity’s principal activities to achieve our charitable objectives for the public benefit are:

• The support of self-employed Navigator representatives who are funded by donations made for their ministries. Within the UK these representatives are currently helping people to live out and pass on the Christian faith in a variety of contexts and situations, including university students, those in their early working life who have graduated from our student ministries, those beyond 50 years of age, those of different cultures living in the UK, and church small groups and leaders. Some of our representatives do similar work in other countries, mostly in Europe but also in Africa, the USA and Asia.

• National and regional initiatives that build on the work of individual representatives, including the development of new discipleship resources for use both within the Navigator movement and by individuals and churches, and the provision of short-term mission trips abroad.

• Initiatives for the training, development and care of Navigator representatives, including a graduate programme called Connect, and a NavEquip course for those wishing to develop a longer term association with the Navigators UK.

• Events to connect and envision friends and supporters, and conferences for students and recent graduates.

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Report of the trustees for the year ended 31 August 2020 (continued)

ACHIEVEMENTS AND PERFORMANCE

Support and Development of Navigator Representatives

• The two region organisational approach has developed well over this year. The Scotland and Ireland Region is developing many new initiatives. The situation in the England and Wales Region is more complex and they are working on how best to organise in a way that best supports the development of the mission.

• A Missions Team provided care and oversight for those ministering overseas. They also oversee our international summer missions. This year a couple who have been serving for many years in France have returned to the UK for a sabbatical and redeployment.

• A National Student Ministry Leader offered training for students and representatives involved in the student ministries. Two leaders were being trained to work alongside the National Student Ministry Leader; however one has moved on and we are working to develop a replacement.

• New representatives are offered financial support through a ‘matched funding’ scheme in their first two years, in which gifts from new donors are matched from central funds up to a limit of 25% of their budget in the first year and 12.5% in the second. This aims to provide support with their initial fundraising.

• The NavEquip course is being developed as a replacement for the Foundations for Ministry (FFM) course. Building on the material and approach of FFM, this is a two-year developmental programme which aims to help people in all walks of life develop as disciples in their context. It is suitable for those in secular roles and those training to be Navigator representatives, for whom this will form the first two of three years of representative training.

• Our central support team continued to provide excellent standards of administration and financial control as well as improvements to our website and an increased emphasis on resource development and communications. Our Finance Manager will be retiring soon and we are actively seeking a replacement.

• Our annual weekend conference for all representatives was held in May 2020. The original programme had to be postponed due to Covid-19, with a shorter conference being held online instead, which included a motivational message from the International President.

Ministry Size

At 31 August 2020 there were 37 associates and 80 representatives associated with Navigators UK, including three new representatives and three new associates who joined us over the course of the year. Of these, around 40 ministered to university students in eleven UK cities, with a particular ministry to international students in some of these. The future for university ministry and international student ministry is currently uncertain because of Covid-19 restrictions; we are running an online campaign to develop new connections with students.

Student Ministry

Approximately 400 students have been ministered to across a number of different cities. The aim has been to establish foundations in their lives that will not only stand the turmoil of 21[st] century life, but would put these students in a good place to support and help others in the same way. In the light of the Covid-19 restrictions, there has been a shift to connecting online.

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Report of the trustees for the year ended 31 August 2020 (continued)

As many students have been dealing with mental health issues connected to or exacerbated by Covid-19, much of the ministry has moved to providing support to such students.

Crossing Cultures UK

The ministry of Crossing Cultures UK seeks to help people who live in the UK but who do not consider themselves part of the host culture. Those involved engage in dialogue for mutual understanding on issues of faith and life in the UK.

Second Half Living Ministry

Second Half Living, an initiative aimed at helping Christians aged 50+ to continue to use their gifts in the service of their communities, provided a programme of small-group activities and workshops. During the year Covid-19 brought an end to meeting with new contacts, although existing groups were able to move online. A pilot group has begun to work out how best to launch the workshops and groups online. This has brought an advantage in terms of connecting people from overseas who normally would have been unable to participate.

20s and 30s

The 20s 30s ministry seeks to help people transitioning from education into the working world. Whereas the student ministries help people to engage with how the world works and their part in it, this ministry is more practical as the issues of life hit home and questions are raised about how faith relates to such circumstances. An effort is beginning to bring the disparate groups together so that they can learn from one another.

Church-Based Ministry

Links have been established with a number of churches to assist them in disciplemaking. A group of people who have experience bringing a disciplemaking emphasis to churches has come together to develop a tailored approach and materials that can be offered to churches. Many representatives have continued to make specific contributions within local churches in line with the Navigator calling, including leading services, preaching, teaching, providing training and seminars, and leading small groups. In Leicester and Southampton, the Navigators have partnered with local churches in the provision of year-long disciplemaking training courses.

Overseas Mission

During 2019/20, eight representatives regularly support and coach nationals in various countries; Covid-19 brought an end to regular travel overseas so these representatives continue with their contacts through online methods. A further seven representatives live overseas

Due to Covid-19 all of our short-term summer mission trips were cancelled. This was a great loss, but efforts were turned instead to supporting young people who were trying to work out how to adapt to the lock down.

Special Events

A five-day residential School of Disciplemaking was organised in Scotland. However, because of Covid-19 it had to be replaced by a three-day online conference led by members of the Scotland and Ireland Leadership Team. It was disappointing to be online, but groups in England

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5

Report of the trustees for the year ended 31 August 2020 (continued)

were also able to engage with it for the first time. Some groups set up for that conference have continued online.

The Big Weekend, a residential conference for students and recent graduates, was held in Blackpool and was attended by more than 100 people. This year it looked at the subject of echochambers, with talks by Jackie Hird aimed at helping people listen to those around them.

FINANCIAL REVIEW

The balance sheet shows total net assets of £2,148,708, which is an increase of £1,515,318 during 2019/20. The majority of this increase is a house in London that was left to The Navigators UK Ltd in a legacy as a gift in kind. Ownership of this house has not yet passed to the Charity so it appears in the accounts as a debtor. The house has been included at a value to the Charity of £1,400,000, based on the probate valuation for HMRC. There are no funds in deficit in the accounts.

Two new designated funds have been created during 2019/20 – a Fixed Assets Fund to hold the value of fixed assets, and a Central Services Fund, to contribute towards future central support costs.

Income

Voluntary donations excluding gifts in kind increased to £1,415,586, a rise of £66,324 (4.9%) compared with last year. A legacy of £122,000 contributed to this increase. Half of this legacy has been designated by the trustees to form the Central Services Fund.

Gift aid decreased to £177,872, a fall of £23,764 (11.8%) compared with last year.

Most of our voluntary income is restricted by the donors to support the ministries of particular Navigator representatives or projects. An 8% administration charge was levied on restricted gifts to help fund the national office.

The trustees are conscious that the Covid-19 pandemic may impact the income of the Charity if a significant number of our donors are unable to continue supporting us due to changes in their financial position. They are actively monitoring the monthly income for the support of individual Navigator representatives and for our general funds. If there are indications that particular Navigator representatives are suffering hardship as a result of a fall in income, the Charity may make short-term discretionary grants to these representatives from the reserves. To date these measures have not been necessary.

Expenditure

The bulk of our expenditure continues to be payments made to support the ministries of selfemployed Navigator representatives working in the UK and abroad.

Unrestricted funds (including the 8% administration charge) were used to fund ministries and projects and to cover the central support costs of the national office and governance. These central support costs were £189,917, a decrease of £10,858 (5.4%) compared with last year.

Investment Policy

Investments are maintained in a low-risk liquid position with competitive interest. Funds are currently held partially in an instant-access charity savings account and a 35-day notice savings account, with the rest of the funds being held in a deposit account with our bank. The amount invested, the spread over institutions and the interest rates earned are regularly reviewed by the Finance Committee of the Board.

THE NAVIGATORS UK LIMITED

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Report of the trustees for the year ended 31 August 2020 (continued)

Reserves Policy

Unrestricted funds are held in general funds to meet the costs of future ministries and projects and to underwrite current activities. Monitoring of reserve levels, resultant budget setting and review of actual financial performance are reviewed by both the Finance Committee and the Board.

Key elements of our reserve policy:

• Unrestricted free reserves (defined as unrestricted funds excluding designated funds) are held to protect against a sudden and catastrophic fall in donations and/or related tax relief. This is in order to protect the work of our representatives and enable the Charity to continue operating in the short term whilst evaluating and exercising options for survival or cessation and is consistent with good practice.

• Both minimum and maximum reserve levels are calculated to be used when monitoring performance and setting future budgets. These calculations use varying percentages of next year’s budgeted costs for a minimum and maximum time period plus provision for an emergency fund, as set out below.

Our current reserve position and projections:

• Calculated target reserves under this policy based on 2020/21 budgeted costs result in a maximum unrestricted reserve level of £430,634 and a minimum unrestricted reserve level of £260,507 (giving a midpoint target of £345,571).

• The unrestricted free reserves were £489,512 as at 31 August 2020, which is well above the maximum unrestricted reserve level. The trustees consider that the Charity should therefore reduce the reserves and accordingly have set a deficit budget of approximately £85,500 for 2020/21.

THE NAVIGATORS UK LIMITED

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Report of the trustees for the year ended 31 August 2020 (continued)

PLANS FOR FUTURE PERIODS

The student ministries in the UK are all adapting to the current Covid-19 crisis. At this point that means moving online. An online advertising campaign will encourage the development of new connections with students.

Those in ministry in church environments are meeting to work out an online path to disciplemaking that will be helpful for churches. This includes many hours of seminar material that could be delivered online.

The work of the Navigators is continuing to develop in Europe; Navigators UK, as one of the most developed ministries, is being increasingly involved in the European region through sharing expertise and mentoring.

The Big Weekend and Student Forum conferences have been suspended. Though very successful, these events were overstretching our resources in terms of representative capacity. The focus will instead be placed on a National Student Conference to be held at the beginning of the academic year. This will begin in 2021.

Navigator groups for graduates are exploring different ways to remain connected and to provide encouragement in their new environments. Various groups meet to share their experiences.

Second Half Living, the Navigator ministry to people aged 50+, has responded to Covid-19 by moving existing groups online. It is planning to explore running seminars for a new group this coming year.

A succession process for a new leader is to be run in the middle of next year. We hope to utilise a more collaborative style of leadership selection called a discerning process.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Navigators UK is a company limited by guarantee with charitable status. In the event of the company being wound up, the members are liable to contribute such an amount as may be required (not exceeding £10.00) in respect of the guarantee. The Charity was registered in Scotland in July 2007.

Appointment of Trustees

Trustees are appointed by the Board after prayerful consideration of candidates, the needs of the Charity and the potential contribution of new trustees. When new trustees are being sought, Board members and representatives are invited to suggest individuals and the Board decides who to approach and invite to consider becoming a trustee. In order to familiarise themselves with the ethos, aims and activities of the Charity, potential trustees are invited to attend a Board meeting as observers before being invited to join the Board. If the individual is willing to be a trustee they are elected by the Board and formally invited to join. New trustees are encouraged to attend training seminars and all trustees are invited to attend the annual conference for Navigator representatives.

THE NAVIGATORS UK LIMITED

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Report of the trustees for the year ended 31 August 2020 (continued)

Organisation

Responsibility for the governance of the Charity lies with the Board of Trustees, which meets at least three times a year. The Board has established a Finance Committee, which met three times last year and currently comprises three trustees and the Country Leader, with responsibility for budget setting, monitoring of income and expenditure and the overview of the year-end accounts and audit. The Board has also established a Representative and Pastoral Committee, which met three times this year and currently comprises four trustees and a representative; this committee deals with pastoral matters relating to representatives in order to better aid the fulfilment of trustee responsibility in these important areas.

During the year one trustee has resigned, having reached the end of his nine-year allowed involvement. One other trustee also reached the end of their allowed time but the Board of trustees agreed to a one-year extension to aid continuity in these challenging days. Three new trustees have joined and bring many skills and experience, together with a stronger input from Scotland. The Board works well together as it is, but we need to keep anticipating future trustee turnover as a normal course of events.

The Board see it as part of their responsibility to be in direct contact with the representatives around the UK in order to be aware of the developments in the ministry and the needs and opportunities that arise. To that end, the location of Board meetings had been rotated to visit different towns and cities through the year, with time set aside to meet the representatives in the various locations. Covid-19 has brought a temporary halt to this rotation. Trustees are encouraged to attend local Navigator events and meetings to have contact with representatives and supporters when this is possible.

Operational responsibility for the ministry of the Charity is entrusted to the Country Leader, supported by a National Leadership Team. The Country Leader and all the other Navigator representatives are self-employed and work in association with the Charity to provide ministry services to enable the Charity to fulfil its objectives and related activities. Such services are set out in formal ministry agreements, which are regularly reviewed. The Charity employs an Office Manager and Finance Manager to provide central administration and financial control, and two other staff who have responsibility for managing and delivering the Charity’s communications to representatives, supporters, trustees and the wider community and the production of resources.

For a number of years the ministries of Navigators UK had been organised on the basis of four geographical quadrants, plus supplemental roles related to international missions and certain national responsibilities to better meet ministry challenges and opportunities. However, the quadrants have now been replaced by two regions – Scotland and Ireland, and England and Wales. This year has been the first year of transition.

A National Fundraising Team comprising two trustees and members of the National Leadership Team was established in 2015/16 with the objective of managing central fundraising initiatives to support specific ministries. The team is not currently functioning because of our strong financial position and the effects of Covid-19.

The trustees are thankful for the continued leadership of Navigators UK provided by the Country Leader Derek Leaf and his wife Eva. They are a deeply gifted couple and it has been a great encouragement to team with them over this year.

Navigators UK belongs to the European Navigator region (NavEurope) and is part of the worldwide Navigator movement, which has its international office in Colorado Springs, USA. The European Director, Bill Sparks, has established his office in our building in Southampton and we provide him with administrative support as well as office space. NavEurope is charged for these facilities and support. The aims and objectives of NavEurope are very similar to those of Navigators UK but they work in a wider European context.

THE NAVIGATORS UK LIMITED

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Report of the trustees for the year ended 31 August 2020 (continued)

Related Parties

None of the trustees receive remuneration or other benefit from their work with the Charity. The opportunity to declare any potential conflicts of interest is presented at the commencement of each Board meeting.

Risk Management

The trustees continue to identify the major risks to which the organisation is exposed and ensure that risk is managed to a satisfactory level. Risks are identified and reviewed during the regular programme of Board and Board Committee meetings, where existing and new ministry activities, financial developments and regulatory changes are considered in the context of the risk they bring to the organisation. Once identified, risks are formally documented within a Risk Register and, where appropriate, controls are implemented so as to seek to reduce the residual risk to an acceptable level commensurate with the Charity’s resources.

The principal risks identified are the financial and ministry impacts of Covid-19, the loss of key office staff and current legislative uncertainties around the definitions of employment status.

In common with many charities with a small number of employees, the loss of key office staff through illness or resignation poses a risk to the day-to-day functioning of the Charity. The trustees have in place measures to detect emerging issues in good time but accept there will still be a residual risk.

In relation to employment status, the trustees have concluded a major review of all our internal documentation relating to procedures and policies affecting the self-employed Navigator representatives and our employed staff. This has been conducted to ensure that we accurately reflect the reality of these different relationships. We have reviewed the latest government tool for assessing self-employed status but it does not appear to be relevant to our Charity.

The trustees continue to ensure a regular focus on our reserve levels as an integral part of our budgeting process.

THE NAVIGATORS UK LIMITED

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Report of the trustees for the year ended 31 August 2020 (continued)

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Registered in England & Wales No. 1099148 Charity Registered in Scotland No. SC038484 Company No. 04429021 Registered Office Turner House 54 The Avenue Southampton SO17 1XQ

Key Management Personnel

Key management personnel comprise the trustees and the Country Leader.

Trustees

The trustees, who are also directors for the purposes of Company law, who served during the year and since the year end are:

M Osborn (Chair)[†] D Brathwaite[†] K Glazebrook[†] S Mulholland S Peters (to 13/11/2019) S Wroe[†] L de Caestecker (from 2/4/2020) H Heron[† ] (from 7/4/2020) S-M Kueh (from 23/7/2020) Finance committee †Representative and pastoral committee Country Leader D Leaf Advisors Bank NatWest plc 64 High Street New Malden Surrey KT3 4HB Solicitors Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES Auditors Burton Sweet The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

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Report of the trustees for the year ended 31 August 2020 (continued)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also directors of The Navigators UK Limited for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Signed on behalf of the Board of Trustees

Martin Osborn – Chair

Date

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12

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE NAVIGATORS UK LIMITED

Opinion

We have audited the financial statements of The Navigators UK Limited (the “Charity”) for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)c of the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state in them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion, the financial statements:

Basis for opinion

We conducted out audit in accordance with international Standards in Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

13

Independent Auditor’s Report to the Trustees of The Navigators UK Limited (continued)

THE NAVIGATORS UK LIMITED

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If based, on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report the fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor’s Report to the Trustees of The Navigators UK Limited (continued)

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/apb/scope/private.cfm This description forms part of our auditor’s report.

Joshua Kingston ACA (Senior Statutory Auditor)

For and on behalf of Burton Sweet Chartered Accountants and Statutory Auditor

The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: …………………..

15

THE NAVIGATORS UK LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020 (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

Note
Income from:
Donations and legacies
1
Charitable activities
2
Other trading activities
3
Investments
TOTAL
Expenditure on:
Charitable activities
4,5
Payments to representatives and projects
National and regional initiatives
Training, development and care
Events
Raising funds
TOTAL
Net income/(expenditure)
6
Transfers between funds
11
Net movement in funds
11
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward
11		 Unrestricted
general funds
£
1,572,604
48,696
4,588
2,078
1,627,966
101,277
88,378
23,298
37,188
1,428
251,569
1,376,397
(1,334,839)
41,558
447,954
489,512		 Unrestricted
designated funds
£
-
-
-
-
-
9,456
-
-
-
-
9,456
(9,456)
1,478,403
1,468,947
28,652
1,497,599		 Restricted
funds
£
1,420,854
-
-
215
1,421,069
1,271,662
1,030
-
-
-
1,272,692
148,377
(143,564)
4,813
156,784
161,597		 2020
Total
£
2,993,458
48,696
4,588
2,293
3,049,035
1,382,395
89,408
23,298
37,188
1,428
1,533,717
1,515,318
-
1,515,318
633,390
2,148,708		 2019
Total
£
1,550,898
90,238
4,641
2,108
1,647,885
1,474,920
93,813
55,893
61,557
1,394
1,687,577
(39,692)
-
(39,692)
673,082
633,390

The Charity has no other recognised gains or losses other than the results for the year as set out above. All the activities of the Charity are classed as continuing. Prior year fund comparatives are disclosed in note 17.

The notes on pages 17 to 25 form part of these financial statements.

THE NAVIGATORS UK LIMITED

16

BALANCE SHEET AS AT 31 AUGUST 2020

Note
TANGIBLE FIXED ASSETS
8
CURRENT ASSETS
Stock of literature and merchandise at cost
Prepayments and debtors
9
Savings accounts
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL NET ASSETS
STATEMENT OF FUNDS
12
Restricted funds
Unrestricted funds
General funds
Designated funds
TOTAL FUNDS		 £
£
2,343
5,786
1,472,491
350,867
328,075
2,157,219
10,854
10,854
2,146,365
2,148,708
161,597
489,512
1,497,599
2,148,708
2020		 2019 2019
£
5,786
1,472,491
350,867
328,075		 £
6,184
47,449
150,000
441,831		 £
2,574
630,816
2,157,219
10,854		 645,464
14,648
10,854 14,648
633,390
156,784
447,954
28,652
633,390

These financial statements have been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.

Approved by the Trustees on ………………………….………..……………………….2020 and signed on their behalf by:

…………………………………………………………………………………………...………...………………………………………………………

The notes on pages 17 to 24 form part of these financial statements.

THE NAVIGATORS UK LIMITED

17

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020

Note
OPERATIONAL CASH FLOWS
Cash flowsfor operating activities
Income from donations and legacies
19 (A1)
Costs of raising funds
19 (B2)
Income from other trading activities
19 (A3)
Net inflow for operating activities
Cash flowsfrom operating activities
Income from charitable activities
19 (A2)
Costs of charitable activities
19 (B1)
Net outflow from operating activities
Net inflow/(outflow) of operating activities
NON-OPERATIONAL CASH FLOWS
Investing activities
Interest from investments
19 (C1)
Costs of purchasing fixed assets
19 (C2)
Net inflow from investing activities
Net cash inflow/(outflow) for year
20		 2020
Total funds
£
1,570,801
(1,428)
4,588
1,573,961
49,520
(1,537,663)
(1,488,143)
85,818
2,518
(1,225)
1,293
87,111		 2019
Total funds
£
1,544,426
(1,394)
4,641
1,547,673
90,905
(1,694,146)
(1,603,241)
(55,568)
2,015
(2,849)
(834)
(56,402)

Charity law prohibits the use of net cash flows on any restricted fund to offset net cash outflows on any fund outside of its own purposes, except on special authority. In practice, this restriction has not had any effect on cash flows for the year.

The notes on pages 17 to 25 form part of these financial statements.

18

THE NAVIGATORS UK LIMITED

ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2020

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

a. Basis of accounting

The Charity is a public benefit entity. The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006, Financial Reporting Standard FRS102 and the Charities Statement of Recommended Practice FRS102 based thereon.

The trustees consider that there are no material uncertainties related to events or conditions that cast significant doubt on the Charity's ability to continue as a going concern. The trustees have considered going concern in the context of the Covid-19 pandemic and its effects on the Charity and the economy.

b. Fund accounting
• Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity. Unrestricted designated
funds are unrestricted funds set aside by the trustees for particular purposes.
• Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
c. Income
All income is included in the Statement of Financial Activities when the Charity is entitled to it and the amount can be quantified with reasonable accuracy.
The following specific policies are applied to particular categories of income:
• Income from donations and legacies is received by way of donations and gifts and is included in full in the Statement of Financial Activities when
receivable, including the related tax recoverable under the Gift Aid scheme.
• Donated assets, services and facilities are included at the value to the Charity where this can be quantified. The property donated to the charity in the
year as a legacy was recognised in the accounts at value to the Charity (based on the open market value as reported to HMRC by the probate
solicitor). The value of services provided by volunteers has not been included in these financial statements.
• Income from investments is included when receivable. A portion is allocated to various restricted funds on the basis of the average balance in these
funds over the financial year. The remainder is allocated to unrestricted general funds.
• Income from legacies is recognised when there is entitlement to the income (the charity has been notified of the terms of the will after the death of the
benefactor), it is probable that the asset will be receivable and it is measurable.
d. Expenditure
Expenditure is recognised on an accrual basis, as a liability is incurred. Expenditure includes VAT, which cannot be recovered and is reported as part of the
expenditure to which it relates.
• Expenditure related to raising funds comprises the costs associated with attracting voluntary income.
• Expenditure related to charitable activities comprises those costs incurred by the Charity in the delivery of its activities. It includes both costs that can
be allocated directly to such activities and those costs of an indirect nature necessary to support them.
• Central support costs are allocated to the different charitable activities on the basis of estimated time spent by the support staff. These estimates are
reviewed annually.
• Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees
and costs linked to the strategic management of the charity. Governance costs are included within support costs.

e. Tangible fixed assets

f. Stock

Stocks of literature and merchandise are stated at the lower of cost and net realisable value. Provision is made for slow-moving stock when appropriate.

g. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.

h. Cash at bank and in hand

Cash at bank and cash 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.

i. Creditors

Creditors are recognised as soon as there is a legal or constructive obligation committing the Charity to pay out resources. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.

j. Pensions

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity and are independently administered. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

k. Leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

THE NAVIGATORS UK LIMITED

19

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020

1 INCOME FROM DONATIONS AND LEGACIES

INCOME FROM DONATIONS AND LEGACIES
Donations
Legacies (including gifts in kind)
Tax refunds		 2020 Total
£
1,293,586
1,522,000
177,872
2,993,458		 2019
Unrestricted
general funds
£
45,603
1,522,000
5,001
1,572,604		 Restricted
funds
£
1,247,983
-
172,871
1,420,854		 Unrestricted
general funds
£
46,380
-
6,488
52,868.00		 Restricted
funds
£
1,296,233
6,649
195,148
1,498,030.00		 Total
£
1,342,613
6,649
201,636
1,550,898

Of the legacies reported in 2020, £1,400,000 relates to the gift of a property to the Charity.

2 INCOME FROM CHARITABLE ACTIVITIES

Administration subscriptions
National and regional initiatives
Training, development and care
Events
Provision of office support to European Navigator Region		 2020 Total
£
7,788
7,412
9,862
14,410
9,224
48,696		 2019
Unrestricted
general funds
£
7,788
7,412
9,862
14,410
9,224
48,696		 Restricted
funds
£
-
-
-
-
-
-		 Unrestricted
general funds
£
8,732
6,889
25,552
39,412
9,653
90,238		 Restricted
funds
£
-
-
-
-
-
-		 Total
£
8,732
6,889
25,552
39,412
9,653
90,238

3 INCOME FROM OTHER TRADING ACTIVITIES

INCOME FROM OTHER TRADING ACTIVITIES
Rental income 2020 Total
£
4,588
4,588		 2019
Unrestricted
general funds
£
4,588
4,588		 Restricted
funds
£
-
-		 Unrestricted
general funds
£
4,641
4,641		 Restricted
funds
£
-
-		 Total
£
4,641
4,641
4
EXPENDITURE ON CHARITABLE ACTIVITIES AND RAIS
Charitable activities
Payments to representatives and projects
National and regional initiatives
Training, development and care
Events
Raising funds		 ING FUNDS 2020 Total
£
1,382,395
89,408
23,298
37,188
1,428
1,533,717		 2019
Direct
costs
£
1,290,534
21,281
13,802
17,590
593
1,343,800		 Central
support costs
£
91,861
68,127
9,496
19,598
835
189,917		 Direct
costs
£
1,376,659
22,791
45,854
40,950
548
1,486,802		 Central
support costs
£
98,261
71,022
10,039
20,607
846
200,775		 Total
£
1,474,920
93,813
55,893
61,557
1,394
1,687,577

Central support costs are analysed in note 5.

Central support costs were divided on the basis of support staff time, with the split between charitable activities for each member of staff reflecting the particular activities they are involved with.

Within payments to representatives and projects (direct costs), institutional grants of £45,738 (2019: £48,140) were paid to Navigator projects based in UK, Africa and North America. The remaining payments of £1,244,796 (2019: £1,328,519) consisted of grants to individuals.

5 CENTRAL SUPPORT COSTS

Costs relating to staff
Costs relating to premises
Administration, communications and other charity running costs
Costs relating to governance		 2020
£
117,494
22,706
42,064
7,653
189,917		 2019
£
121,784
22,865
47,214
8,912
200,775

THE NAVIGATORS UK LIMITED

20

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

6 NET INCOME BEFORE TRANSFERS

This is stated after charging:

Depreciation
Auditor's remuneration
7
STAFF COSTS AND NUMBERS
Salaries and wages
Employer's national insurance contributions
Pension contributions		 2020
£
1,456
6,342
2020
£
101,774
4,556
8,158
114,488		 2019
£
2,156
5,970
2019
£
103,550
6,744
7,971
118,265

No employee received emoluments of more than £60,000 p.a. The average number of employees was four (2019: five). No employment benefits were paid to key management personnel (2019: none).

8 FIXED ASSETS

FIXED ASSETS
Cost
At 1 September 2019
Disposals
Additions
At 31 August 2020
Depreciation
At 1 September 2019
Depreciation on disposals
Charge for the year
At 31 August 2020
Net book value
At 31 August 2020
At 31 August 2019		 Equipment
£
11,246
(2,622)
1,225
9,849
8,672
(2,622)
1,456
7,506
2,343
2,574		 Total
£
11,246
(2,622)
1,225
9,849
8,672
(2,622)
1,456
7,506
2,343
2,574

9 PREPAYMENTS AND DEBTORS

Debtors re income from donations and legacies
Debtors re income from charitable activities
Debtors re income from investments
Prepayments re costs of charitable activities		 2020
£
1,452,152
12
56
20,271
1,472,491		 2019
£
29,495
991
281
16,682
47,449

Of the debtors re income from donations and legacies reported in 2020, £1,400,000 relates to the gift of a property to the Charity, the title of which has not yet passed to the Charity. Once the title has passed to the Charity this will be recorded as a fixed asset.

10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Deferred income re income from charitable activities
Creditors/accruals re cost of charitable activities:
Tax and national insurance
Other creditors
Accruals		 2020
£
1,082
1,654
1,818
6,300
10,854		 2019
£
1,237
3,129
4,312
5,970
14,648

THE NAVIGATORS UK LIMITED

21

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

11 MOVEMENT IN FUNDS

Prior year comparatives are disclosed in note 18.

At
1Sept 2019
Note
£
UNRESTRICTED FUNDS
General Funds
447,954
Libby Hinton Fund (designated)
(i)
22,418
Tithe Fund (designated)
(ii)
6,234
Fixed Assets Fund (designated)
(iii)
-
Central Services Fund (designated)
(iv)
-
476,606
RESTRICTED FUNDS
Representative Funds
(v)
83,493
Admin Fund
(vi)
-
Scottish Admin Fund
(vii)
4,403
Robinson Africa Fund
(viii)
62,126
Second Half Living
(ix)
4,047
Connect
(x)
460
Student Ministries
(xi)
2,000
Church Ministries
(xii)
255
Other restricted gifts
(xiii)
-
156,784
TOTAL FUNDS
633,390		 At
1Sept 2019		 Income
and gains		 Expenditure
and losses
£
(251,569)
(1,456)
(8,000)
-
-
(261,025)
(1,271,325)
-
-
(337)
(236)
-
(794)
-
-
(1,272,692)
(1,533,717)		 Transfers
between funds		 At
31 Aug 2020
£
1,627,966
-
-
-
-		 £
(1,334,839)
-
15,060
1,402,343
61,000		 £
489,512
20,962
13,294
1,402,343
61,000
476,606 1,627,966 143,564 1,987,111
83,493
-
4,403
62,126
4,047
460
2,000
255
-		 1,388,490
26,856
720
215
-
500
-
450
3,838		 (112,525)
(26,856)
-
-
-
(500)
-
155
(3,838)		 88,133
-
5,123
62,004
3,811
460
1,206
860
-
156,784 1,421,069 (143,564) 161,597
633,390 3,049,035 - 2,148,708

(viii) Robinson Africa Fund is a restricted fund comprising a legacy left to The Navigators UK Limited to be used for work in Africa.

(ix) Second Half Living is a fund to receive restricted donations for Second Half Living initiatives.

(x) Connect i s a fund to receive restricted donations for the Connect graduate training programme.

(xi) Student Ministries is a fund to receive restricted donations for Student Ministries initiatives.

(xii) Church Ministries is a fund to receive restricted donations for Church Ministries initiatives.

(xiii) Other restricted gifts represent small restricted donations for specific events or national initiatives.

Transfers shown are net movements between funds and consist of:

Transfer of designated funds
Administration charge transfers
Ministry transfers
General Fund transfers		 Unrestricted
general funds		 Unrestricted
designated funds
£
1,478,403
-
-
-
1,478,403		 Restricted
funds		 2020
Total
£
(1,478,403)
101,295
31,792
10,477		 £
-
(101,295)
(31,792)
(10,477)		 £
-
-
-
-
(1,334,839) (143,564) -

22

THE NAVIGATORS UK LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

12 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Net current assets
Total net assets at 31 August 2020		 Unrestricted
funds
£
2,343
1,984,768
1,987,111		 Restricted
funds
£
-
161,597
161,597		 2020
Total
£
2,343
2,146,365
2,148,708

At 31 August 2019, total net assets were £633,390, of which £630,816 were net current assets held by unrestricted funds (£474,032) and restricted funds (£156,784). The remaining £2,574 were tangible fixed assets held by unrestricted funds.

13 COMMITMENTS UNDER OPERATING LEASES

At 31 August 2020 the charitable company had future minimum lease payments under non-cancellable operating leases for each of the following periods:

Within one year
Within two to five years
More than five years		 2020
£
24,089
34,724
-
58,813		 2019
£
23,856
4,818
-
28,674

Expenditure on the Statement of Financial Activities for the year ended 31 August 2020 relating to these leases was £25,545 (2019: £17,373).

14 TRUSTEES' REMUNERATION

None of the trustees received any remuneration in the year (2019: £nil).

Travel expenses of £341 (2019: £1,044) were reimbursed to three trustees (2019: five). Travel expenses of £69 (2019: £290) were waived by two trustees (2019: three).

15 DONATIONS FROM RELATED PARTIES

Aggregate donations (including tax refunds) received from trustees, key management personnel and their close family members was £30,379 (2019: £16,491).

16 RELATED PARTY TRANSACTIONS

Related party transactions during the year relate to grants made to the self-employed representatives to further the purposes of the charity.

Stephen Peters was a trustee of The Navigators UK Limited until November 2019 and is a close family member of Timothy Peters, a self-employed representative of the charity. Grants made to Timothy Peters to further the purposes of the charity were £19,995 (2019: £17,311).

Helen Heron became a trustee of The Navigators UK Limited in April 2020 and is a close family member of Kat Shepherd, a selfemployed representative of the charity. Grants made to Kat Shepherd to further the purposes of the charity were £10,754 (2019: £12,160).

Derek Leaf is the Country Leader of The Navigators UK Limited, a role that is considered to be key management personnel, and is a close family member of Eva Leaf. As described in the Trustees Report, the Country Leader operates as a self-employed representative of the charity and as such grants totalling £31,693 were made to the Derek and Eva Leaf to further the purposes of the charity (2019: £22,640).

In addition, Derek Leaf is a close family member of both Hannah and Zanel Leaf, who have in the past been self-employed representatives of the charity. Grants made to Hannah Leaf to further the purposes of the charity were zero (2019: £5,484) and grants made to Zanel Leaf to further the purposes of the charity were zero (2019: £7,044).

THE NAVIGATORS UK LIMITED

23

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

17 PRIOR YEAR FUND COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
TOTAL
Expenditure on:
Charitable activities
Payments to representatives and projects
National and regional initiatives
Training, development and care
Events
Raising funds
TOTAL
Net income/(expenditure)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
Total funds carried forward		 Unrestricted
general funds
£
52,868
90,238
4,641
1,916
149,663
108,527
92,929
55,893
61,557
1,394
320,300
(170,637)
131,886
(38,751)
486,705
447,954		 Unrestricted
designated funds
£
-
-
-
-
-
1,170
-
-
-
-
1,170
(1,170)
5,288
4,118
24,534
28,652		 Restricted
funds
£
1,498,030
-
-
192
1,498,222
1,365,223
884
-
-
-
1,366,107
132,115
(137,174)
(5,059)
161,843
156,784		 2019
Total
£
1,550,898
90,238
4,641
2,108
1,647,885
1,474,920
93,813
55,893
61,557
1,394
1,687,577
(39,692)
-
(39,692)
673,082
633,390

THE NAVIGATORS UK LIMITED

24

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

18 PRIOR YEAR COMPARATIVES FOR THE MOVEMENT IN FUNDS

Note
UNRESTRICTED FUNDS
General Funds
Libby Hinton Fund (designated)
(i)
Tithe Fund (designated)
(ii)
RESTRICTED FUNDS
Representative Funds
(iii)
Admin Fund
(iv)
Scottish Admin Fund
(v)
Robinson Africa Fund
(vi)
Second Half Living
(vii)
Connect
(viii)
Student Ministries
(ix)
Church Ministries
(x)
Matched Funding
(xi)
Other restricted gifts
(xii)
TOTAL FUNDS		 At
1Sept 2018
£
486,705
23,588
946
511,239
93,185
-
3,683
61,934
281
2,760
-
-
-
-
161,843
673,082		 Income
and gains
£
149,663
-
-
149,663
1,479,809
10,801
720
192
-
500
100
1,000
5,000
100
1,498,222
1,647,885		 Expenditure
and losses
£
(320,300)
(1,170)
-
(321,470)
(1,365,223)
-
-
-
(884)
-
-
-
-
-
(1,366,107)
(1,687,577)		 Transfers
between funds
£
131,886
-
5,288
137,174
(124,278)
(10,801)
-
-
4,650
(2,800)
1,900
(745)
(5,000)
(100)
(137,174)
-		 At
31 Aug 2019
£
447,954
22,418
6,234
476,606
83,493
-
4,403
62,126
4,047
460
2,000
255
-
-
156,784
633,390

(ii) Tithe Fund holds money designated by the trustees to be used as grants for projects and individuals outside of The Navigators UK Limited in line with the Charity's objectives.

(iii) Representative Funds represent restricted donations to The Navigators UK Limited for the support of individual self-employed Navigator representatives or their ministry funds.

(v) Scottish Admin Fund is a fund to receive restricted donations for administration costs associated with events and initiatives in Scotland.

Transfers shown are net movements between funds and consist of:

Transfer of designated funds
Administration charge transfers
Ministry transfers
General Fund transfers		 Unrestricted
general funds
£
(5,288)
112,235
22,420
2,519
131,886		 Unrestricted
designated funds
£
5,288
-
-
-
5,288		 Restricted
funds
£
-
(112,235)
(22,420)
(2,519)
(137,174)		 2019
Total
£
-
-
-
-

THE NAVIGATORS UK LIMITED

25

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

19 RECONCILIATION OF THE STATEMENT OF FINANCIAL ACTIVITIES

A1
Income from donations and legacies
(Increase)/decrease in debtors
A2
Income from charitable activities
(Increase)/decrease in debtors
Increase/(decrease) in deferred income
A3
Income from other trading activities
B1
Costs of charitable activities
Depreciation eliminated
(Increase)/decrease in prepayments
Increase/(decrease) in creditors and accruals
(Increase)/decrease in stocks
B2
Costs of raising funds
C1
Interest from investments
(Increase)/decrease in debtors
C2
Costs of purchasing fixed assets
Balance sheet movements		 2020 Cash flow
£
1,570,801
49,520
4,588
(1,537,663)
(1,428)
2,518
(1,225)
87,111		 2019
Statement of
Financial Activities
£
2,993,458
48,696
4,588
(1,532,289)
1,456

(1,428)
2,293
(1,225)		 Debtors &
Prepayments		 Creditors &
Accruals		 Stock levels Cash flow
£
(1,422,657)
979
(3,589)
225		 £
(155)
(3,639)		 £
398		 £
1,544,426
90,905
4,641
(1,694,146)
(1,394)
2,015
(2,849)
(1,425,042) (3,794) 398 (56,402)

20 ANALYSIS OF CHANGES IN CASH AND CASH EQUIVALENTS

Savings account
Cash at bank and in hand
Savings account
Cash at bank and in hand		 2020
£
350,867
328,075
678,942
2019
£
150,000
441,831
591,831		 2019 Change
£
150,000
441,831		 £
200,867
(113,756)
591,831
2018		 87,111
Change
£
150,000
498,233		 £
-
(56,402)
648,233 (56,402)