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2020-12-31-accounts

T H E A R T H U R R A N K C E N T R E ( A C H A R I T A B L E C O M P A N Y L I M I T E D B Y G U A R A N T E E )

Annual report and financial statements

for the year ended 31 December 2020

Company number 04917066 Charity number 1104300

1

ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED31 DECEMBER2020
Pages
Administrative information 2
Trustees’ report 3 – 6
Independent Examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 14

1

CONSTITUTION

The Arthur Rank Centre (“ARC”) is a company limited by guarantee and a registered charity governed by its memorandum and articles of association dated 27 August 2010. In the event of the organisation being wound up each trustee agrees to contribute £10 towards the costs of dissolution. The company is also registered with the Charity Commission for England & Wales. Charity number 1104300. Company number 04917066.

TRUSTEES

The directors of the charitable company are its trustees for the purposes of charity law. The Trustees who served during the year and since the year-end are:

Revd Les Hann The URC/Methodist Church Fr Robert Taylerson John Plumb Revd Robert Barlow (resigned 28 April 2020) Revd Ruth Newton Rob Walrond Prof David Pink George Dunn Revd Claire McArthur (appointed 29 January 2020)

CHIEF EXECUTIVE OFFICER

Revd Claire Maxim

SECRETARY

Peter Tacon (deceased 29 July 2020)

REGISTERED OFFICE AND OPERATIONAL ADDRESS

Rural Innovation Centre Stoneleigh Park Warwickshire CV8 2LG

INDEPENDENT EXAMINERS

Guest Wilson Chartered Accountants 8 Wolverton Road Snitterfield Stratford upon Avon Warwickshire CV37 0HB

BANKERS

Coutts & Co 440 Strand London WC2R 0QS

SOLICITORS

Wright Hassall LLP Olympus Avenue Leamington Spa Warwickshire CV34 6BF

2

TRUSTEES’ REPORT

The Trustees, who are also the Directors, present their report and accounts for the year ended 31 December 2020.

GOVERNANCE

The Articles set out the composition and tenure of the Board of Trustees.

A change was agreed to the Articles regarding appointment of Trustees, to take into account independence from RASE and the Rank Foundation. There is also now a three year term of office.

The day to day operations and control of ARC activities are delegated to the Chief Executive Officer. The Trustees and senior staff of The ARC are listed on page 2.

OBJECTIVES AND ACTIVITIES

The Arthur Rank Centre (the Company/ARC) was incorporated in 2003 as a company limited by guarantee and registered with the Charity Commission (charity number 1104300). In 2010 the ARC was established as an independent charity. Its governing document is its Memorandum and Articles of Association. The objects for which the Company is constituted are as follows:

To advance religion by promoting religious activities and values amongst rural communities in such ways as the trustees may from time to time determine and, but without limitation:

  1. To provide a focus and resource for the work of the Christian churches in rural areas through the sharing of good practice, the provision of training and the encouragement of the Christian ministry;

  2. To lead the Christian churches in working to improve the quality of life of those living or working in rural communities;

  3. Developing greater understanding between urban and rural communities, through the linking of churches and other faith groups.

PUBLIC BENEFIT

The Trustees consider that their objectives, activities and goals have a clear public benefit in enhancing the economic, social and cultural well-being of rural communities. In drafting these statements, the Trustees have complied with the Charities Act 2011, to have due regard to the public benefit guidance published by the Charity Commission

RISK MANAGEMENT

Risk assessment reviews are considered by the Trustees annually. The reviews identify and assess the major strategic business and operational risks to which the charity is exposed and appropriate mitigating action is taken where necessary.

The main risk facing the Charity is a reduction in funding. The ARC team is constantly looking for new partners and new funding streams to mitigate any reductions in existing funding provisions.

Liquidity risk may arise where insufficient funds are available to meet day to day needs. See policy on Reserves detailed below.

ACHIEVEMENTS AND PERFORMANCE

In this strange Covid year, we have begun to implement much of the strategy developed in 2019. Rather than going into hibernation and furloughing existing staff , the Arthur Rank Centre continued to operate from our homes across Warwickshire, Leicestershire and Northamptonshire.

3

Main Activities

We repositioned the Germinate brand this year, reclaiming the Arthur Rank Centre name for the organisation, retaining the Germinate name for our flagship Leadership development programme.

We have seen increases in the number of people we reach, a result of bringing in first a temporary specialist in communications and then a permanent PR and Communications Manager. Being able to engage digitally has been a Godsend this year, although we have maintained a much reduced capacity for telephone contact.

Early in the year we ran a Rural Ministry Course for 14 participants and were glad to receive positive and constructive feedback as usual – “ Inspirational ideas were exchanged which I will find useful in my context.” Our capacity for meeting people face to face soon was severely curtailed, and even though we gave 200 people information about ourselves (and had conversations with many more) at the Christian Resources Exhibition at Stoneleigh Park in early March, the impact of Covid on visitor numbers was clear.

However, work on Rural Isolation continued despite the impact of the pandemic. Over 150 people were helped through projects which included providing a new servery, bereavement training, a telephone befriending service. Some projects which had to stop face to face contact continued in contact by email, including one to support people with memory loss and their carers - “Thank you so much for your newsletters which have kept mum smiling during this pandemic.”

We commissioned research into the effect of Covid-19 on faith conducted by the Centre for Rural policy Research within the University of Exeter which showed varying responses. However it was clear there will be long lasting implications including “ Inclusion arose as a common theme throughout the survey responses, and the ability to include individuals who might previously have been unable to participate actively due to illness or other restrictions is clearly important to many, something they would like to see continue even as ‘normal’ service recommences.”

We were very aware as March progressed that people would be struggling through the end of Lent and Easter, and so our weekly email, “Together Apart”, was conceived. We asked other rural Christian agencies and churches to collaborate and eventually twelve joined us, representing the major denominations and many of the main Christian rural agencies. What was intended to give some spiritual food for thought and ideas for practical action for a few weeks lasted well over a year, and has been consistently well received - “We were very touched by the assurance that all of you at the Arthur Rank Centre are praying for so many of us.”

By mid year, we were more aware than ever of the need for resources to support Christians in their own homes, as they worshiped and remained under lockdown. Our Rural Mission Sunday resources and Harvest resources were both conceived and delivered at a time of great uncertainty, and so we offered more options than ever. The Harvest resources were downloaded 681 times, which is a record for us, and were used in urban as well as rural contexts - “ Our harvest thanksgiving service was a smaller gathering than usual, but all the farmers in the congregation remarked on how supported and encouraged they felt by being mentioned and thanked; they said they usually feel forgotten, overlooked and taken for granted.”

We also began the translation of some of our resources into Welsh and look forward to seeing their impact in 2021.

We were deeply saddened in July by the sudden and untimely death of our Finance Manager, Peter Tacon. In a small organisation, such losses are felt very deeply. We remain grateful for all that Peter did for the Arthur Rank Centre in his eight years of service.

By October the expansion of the team was complete, and it is a tribute to staff “old” and new that we have managed to work well together. Our “Country Way” magazine has still been planned, edited, printed and distributed three times as usual, despite all that has happened.

We have become very good at using Zoom and teams, and having observed the efforts of others, the Rural Officers Gathering moved online. This was very well received, with participants appreciating the input and the chance to share their joys and sorrows, although we all look forward to this happening in person again. Behind the scenes, we not only expanded the team and realigned work, we began rebuilding our Customer Record Management system. This is taking considerable effort, but means we will have an excellent base upon which to build.

We have experienced a short hiatus in fundraising due to staff changes during 2020, but 2021 sees us back competing for funding again. We were delighted to receive funds from St Peter’s Saltey Trust to enable us to undertake a significant project in 2021 around food and faith.

4

Plans for 2021

FINANCIAL REVIEW

Our aim in the past has been to maximise long term returns from our endowment rather than generate a consistent annual income. Market sentiment at the end of any year may therefore distort our underlying long term situation. We have been drawing £80,000 p.a. from our endowment, approximately 5% of the capital, on the belief that this is consistent with maintaining the real value of the endowment in the long term. In the short term however, actual investment income, and capital gains or losses, may be greater or less than this annual drawing.

This approach is changing as we recognise the gradual depletion of the investment. We expect to draw £ 250,000 in 2021, in order to finance increased staffing and a move towards financial sustainability by diversifying our income streams. As those income streams grow, we expect to be left with an amount commenusurate with our reserves policy.

RESERVES POLICY AND GOING CONCERN

The policy is to maintain a reserve which represents six months of core expenditure equating to £140k in general funds. At this level it is felt that The ARC should be able to continue its current activities in the event of a sudden drop in income, although it would be necessary to consider how the income would be replaced or activities changed. This policy is reviewed by the Trustees annually.

INVESTMENT POLICY

The Trustees aim to invest to maximise long term return, recognising that this would entail shorter term volatility. Trustees further agreed not to invest in:

Investments were reviewed by the Trustees during the year.

5

TRUSTEES’ RESPONSIBILITIES FOR THE ACCOUNTS

The Trustees are required to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit for that period. In preparing those accounts the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011 and other applicable law and regulations. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

AUDIT EXEMPTION

The Trustees are satisfied that the company was entitled to exemption from audit under section 477 of the Companies Act 2006 and section 144(2) of the Charities Act 2011. These accounts have not, therefore, been subjected to audit.

Signed on behalf of the Trustees on 19[th] May 2021.

The Revd Les Hann Director

6

INDEPENDENT EXAMINER’S REPORT

to the Directors of The Arthur Rank Centre

I report on the financial statements of The Arthur Rank Centre for the year ended 31 December 2020 on pages 8 to 14.

This report is made solely to the company’s members as a body, in accordance with the Companies Act 2006. Our work has been undertaken so that we might state to the company’s members those matters we are required to state to them in our 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 company and the company’s members as a body, for our examination work, for this report, or for the opinions we have formed.

Respective responsibilities of Trustees and examiner

As described on page 6 the company's directors (Trustees) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. The Trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (“the 2011 Act”) and that an independent examination is needed. I am qualified to undertake the examination, being a qualified member of ICAEW.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

have not been met; or

NAME: NEIL WILSON

RELEVANT PROFESSIONAL QUALIFICATION OR BODY: ICAEW

8 Wolverton Road, Snitterfield, Stratford upon Avon, CV37 0HB 19 May 2021

7

( A C H A R I T A B L E C O M P A N Y L I M I T E D B Y G U A R A N T E E )

T H E A R T H U R R A N K C E N T R E

STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 December 2020
Unrestricted Restricted Total Unrestricted Restricted
Total
Notes funds
£		 funds
£		 2020
£		 funds
£		 funds
£

2019
£
INCOME
Donations and legacies 77,204 255 77,459 42,694 -
42,694
Income from charitable activities
Special training and resourcing 23,348 2,090 25,438 33,363 1,560
36,923
programmes
Church life and mission 3,437 - 3,437 2,680 -
2,680
Income from other trading activities
Commercial trading operations - - - - -
-
Rental income 3,250 - 3,250 3,000 -
3,000
Investment income 49,870 - 49,870 38,189 -
38,189
Total income 3 157,109 2,345 159,454 121,926 1,560
123,486
EXPENDITURE
Cost of raising funds 27,908 - 27,908 30,874 -
30,874
Charitable activities 256,209 1,164 257,373 228,472 1,333
229,805
Governance 18,961 - 18,961 20,880 - 20,880
Total expenditure 5 303,078 1,164 304,242 280,226 1,333
281,559
Net income/(expenditure) before (145,969) 1,181 (144,788) (158,300) 227
(158,073)
gains/(losses) on investments
OTHER RECOGNISED GAINS AND LOSSES
Realised and unrealised gains/(losses) on 9 13,086 - 13,086 183,384 -
183,384
investments
Net transfers between funds - - - -
-
NET MOVEMENT IN FUNDS (132,883) 1,181 (131,702) 25,084 227
25,311
Fund balances brought forward 14 1,379,638 9,847 1,389,485 1,354,554 9,620
1,364,174
FUND BALANCES CARRIED FORWARD 14 1,246,755 11,028 1,257,783 1,379,638 9,847
1,389,485

8

( A C H A R I T A B L E C O M P A N Y L I M I T E D B Y G U A R A N T E E )

T H E A R T H U R R A N K C E N T R E

BALANCE SHEET
as at 31 December 2020
Notes
Unrestricted
fund
£
Restricted
fund
£
Total
2020
£
Total
2019
£
FIXED ASSETS

Investments
9
1,265,585
-
1,265,585
Tangible assets
10
13,968
-
13,968
1,396,530
6,239
1,279,553
-
1,279,553		 1,402,769
CURRENT ASSETS
Debtors
11
11,299
-
11,299
Bank and cash balances
29,519
11,028
40,547
18,606
64,901
40,818
11,028
51,846
CREDITORS: amounts falling due within one year
12
(73,616)
-
(73,616)		 83,507
(96,791)
NET CURRENT(LIABILITIES)/ASSETS
(32,798)
11,028
(21,770)
(13,284)
TOTAL ASSETS LESS CURRENT LIABILITIES
£ 1,246,755
£ 11,028£ 1,257,783		 £ 1,389,485
FUNDS
Unrestricted funds
14
1,246,755
-
1,246,755
Restricted funds
14
-
11,028
11,028
1,379,638
9,847
£ 1,246,755
£ 11,028£ 1,257,783		 £ 1,389,485

For the year ended 31 December 2020 the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and section 144(2) of the Charities Act 2011. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies act 2006.

The Directors have acknowledged their responsibilities for: selecting suitable accounting policies and then applying them consistently; observing the methods and principles in the Charities SORP; making judgements and estimates that are reasonable and prudent; stating whether applicable UK accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and preparing the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved by the Directors on 19 May 2021 and signed on their behalf by:

The Revd Les Hann Director

9

T H E A R T H U R R A N K C E N T R E

( A C H A R I T A B L E C O M P A N Y L I M I T E D B Y G U A R A N T E E )

NOTES TO THE FINANCIAL STATEMENTS

at 31 December 2020

1 ACCOUNTING POLICIES

Company and charitable status

The Arthur Rank Centre, a public benefit entity, is incorporated in England and Wales as a company limited by guarantee not having a share capital. Each member has undertaken to contribute to the assets in the event of winding up a sum not exceeding £10. The charity is a registered charity. The registered office is given on page 2.

Basis of preparation and assessment of going concern

The financial statements are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities (SORP 2015)” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102), effective 1 January 2015 and the Companies Act 2006.

In preparing the accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. At the date of transition in applying the requirements of FRS 102 no adjustments were required.

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. The most significant areas of uncertainty that affect the carrying value of assets held by the Charity are the level of investment return and the performance of investment markets.

Funds

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds are unrestricted funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

Income recognition

Income is included in the Statement of Financial Activities when receivable and when the amount can be quantified with reasonable accuracy. The value of unpaid donated services has not been included.

Expenditure recognition

Expenditure is recognised in the period in which it is incurred under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they are allocated to activities on a basis consistent with use of the resources. Expenditure includes attributable VAT which cannot be recovered.

Investments and investment income

Investments are stated at market value at the balance sheet date. Any gains or losses on the revaluation are taken to the Statement of Financial Activities. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the end of the year and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities. Investment income is accounted for on the basis of amounts received during the year. Interest on cash balances is accrued to the accounting date.

Taxation

ARC is a registered charity and is not subject to taxation on its income so long as this is used for its charitable activities.

10

T H E A R T H U R R A N K C E N T R E

( A C H A R I T A B L E C O M P A N Y L I M I T E D B Y G U A R A N T E E )

Fixed assets and depreciation

All fixed assets are initially recorded at cost. Depreciation is provided on all fixed assets at rates calculated to write off the cost, less estimated residual value based on prices prevailing at the date of acquisition, of each asset evenly over its expected useful life as follows:

Office equipment - 3 years straight line

2 CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the charity’s accounting policies, which are described in note 1, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed above.

3
INCOME		 2020
£		 2019
£
Income from donations and legacies
G Y W Holmes 59,000 -
Laing Trust 5,000 5,000
R P Tindall Trust 5,000 -
Methodist Chapel Aid 2,250 -
J Mason 2,000 -
Inlight Trust - 15,000
North Yorkshire Lottery Fund - 7,000
Prince’s Countryside Fund - 3,063
Methodist Chapel - 2,600
Englefield Trust - 2,500
Barnabas Trust - 1,600
Others ≤£1,000 4,209 5,931
77,459 42,694
Income from charitable activities
Special training and resourcing programmes
Conferences & courses 12,728 24,797
Country Way and other subscriptions 12,710 12,126
Church life and mission 3,437 2,680
28,875 39,603
Income from other trading activities
Commercial trading operations - -
Rental income 3,250 3,000
Investment income 24,874 38,189
Investment income earlier years’ 24,996 -
53,120 41,189
Total income 159,454 123,486

11

T H E A R T H U R R A N K C E N T R E ( A C H A R I T A B L E C O M P A N Y L I M I T E D B Y G U A R A N T E E )

4 DONATED SERVICES

The National Rural Officers of the Church of England and the Methodist Church and United Reformed Church, with support staff, have been based at the Centre for some years. These donated services have not been included within the Statement of Financial Activities as either income or expenditure.

5
EXPENDITURE		 5
EXPENDITURE		 Unrestricted
£		 Restricted
£		 2020
£

2019
£
Costs of raising funds
Fundraising 19,359 - 19,359
21,191
Investment management costs 8,549 - 8,549
9,683
27,908 - 27,908
30,874
Charitable activities
Special training and resourcing programmes
Conferences & courses 7,759 - 7,759
14,547
Country Way 14,595 - 14,595
16,352
Church life and mission 233,855 1,164 235,019
198,906
256,209 1,164 257,373
229,805
Governance
Audit/independent examination and related costs 1,750 - 1,750
1,750
Board of Trustees/Committees - - -
175
Other professional costs 16,119 - 16,119
15,060
Other costs 1,092 - 1,092
3,895
18,961 - 18,961
20,880
Total expenditure 303,078 1,164 304,242
281,559
6
STAFF COSTS		 2020
£		 2019
£
Wages and salaries 162,621 117,875
Social security costs 8,906 7,744
Other pension costs 10,565 10,529
182,092 136,148

The average number of employees, including part-time, during the year was 4 (2019: 4).

No employee earned in excess of £60,000 (2019 - Nil).

7
NET INCOME FOR THE YEAR
2020 2019
This is stated after charging: £ £
Independent examiner’s remuneration 1,750 1,750
Depreciation 5,563 3,668

8 TRUSTEES’ REMUNERATION

No remuneration was paid to Trustees for their services

12

( A C H A R I T A B L E C O M P A N Y L I M I T E D B Y G U A R A N T E E )

T H E A R T H U R R A N K C E N T R E

9
INVESTMENTS
PERMANENT ENDOWMENT FUND
2020
£		 9
INVESTMENTS
PERMANENT ENDOWMENT FUND
2020
£		 2019
£
Market value at 1 January 2020
1,396,530
Acquisitions at cost
90,235
Sales proceeds from disposals
(234,267)		 1,389,643
6,600
(183,097)
Gain/(loss) in the year – realised
13,086
Gain/(loss)in theyear - unrealised		 (45,483)
58,569		 46,112
137,272
Market value at 31 December 2020
1,265,585		 1,396,530
Historical cost as at 31 December 2020
854,203		 939,407
10
TANGIBLE FIXED ASSETS		 Office
equipment
£
Cost or valuation:
At 1 January 2020 36,468
Additions 13,580
Disposals (939)
At 31 December 2020 49,109
Depreciation:
At 1 January 2020 30,229
Charge for the year 5,563
Disposals (651)
At 31 December 2020 35,141
Net book value
At 31 December 2020 13,968
At1January2020 6,239
11
DEBTORS		 2020
£		 2019
£
Amounts falling due within one year
Trade debtors 15 1,834
Prepayments and accrued income 9,596 15,036
Other debtors(VAT) 1,688 1,736
11,299 18,606
12
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR		 2020
£		 2019
£
Trade creditors 9,878 13,616
Other taxes and social security 3,764 2,370
Deferred income 51,125 50,702
Other creditors 789 28,084
Accruals 8,060 2,019
73,616 96,791
Deferred income £
At 1 January 2020 50,702
Released in 2020 (50,702)
Income deferred in 2020 51,125
At 31 December 2020 51,125

13

T H E A R T H U R R A N K C E N T R E ( A C H A R I T A B L E C O M P A N Y L I M I T E D B Y G U A R A N T E E )

13
FUNDS ANALYSIS		 Unrestricted
fund
£ Restricted
fund
£		 2020
£		 2019
£
Fixed assets 1,279,553 - 1,279,553 1,402,769
Current assets 40,818 11,028 51,846 83,507
Current liabilities (73,616) - (73,616) (96,791)
Net assets 1,246,755 11,028 1,257,783 1,389,485
14
MOVEMENT IN FUNDS
At 1 January
2020

Income		 Expenditure Net
Investment
gain		 Transfers At 31
December
2020
£
£		 £ £ £ £
Restricted funds
Jerusalem Trust 3,197
-		 - - - 3,197
Local Collaborative Ministry 557
-		 - - - 557
Credit Unions -
-		 - - -
Churches Rural Group 3,561
1,210		 (100) - - 4,671
Agricultural Chaplaincy 562
1,135		 (389) - - 1,308
Website 1,970
-		 (675) - - 1,295
9,847
2,345		 (1,164) - - 11,028
Unrestricted funds
General 1,379,638
157,109		 (303,078) 13,086 - 1,246,755
Total 1,389,485
159,454		 (304,242) 13,086 - 1,257,783

Restricted funds carried forward include amounts held specifically for the charity to enhance its operational capacity.

14