**Registered number 5247714 Charity number 1106723**
## **FAITH MINISTRIES UK CHURCHES**
**The Annual Report and Financial Statements For the Year Ended 31 August 2020**
1
## Table of Contents
**Reference and administrative Information about the charity ............................................ 3 Trustees/director’s annual report ........................................................................................ 4 Independent Examiner’s Report .......................................................................................... 8 Statement of Financial Activities ......................................................................................... 9 Balance Sheet ..................................................................................................................... 10 Notes to the Financial Statements .................................................................................... 11**
2
FAITH MINISTRIES UK CHURCHES **TRUSTEES' ANNUAL REPORT** FOR THE YEAR ENDED 31[st] AUGUST 2020
## Reference and administrative Information about the charity
The trustees/directors present its annual report and independently examined financial statements for the year ended 31 August 2020.
## **Legal and Administration Details**
## **Full name**
FAITH MINISTRIES UK CHURCHES
## **Also known as**
FMUK
Company registered number 5247714
Registered charity number 1106723
## **Trustees/Directors**
The Trustees/Directors during the year were as follows:
Bright Mude (Chairman) Benjamin Munyaneza Michael Machumi
## **Company Secretary**
Michael Machumi
## **Principal Address**
Sheffield Christian Centre, 131 Guildford Avenue, Sheffield, South Yorkshire, S2 2PR.
## **Bankers**
H S B C Bank, 17 Church Street, Sheffield, South Yorkshire, S1 1HH.
## **Independent Examiner**
Padmore Makumbe (ACMA), 83 Cairns Road, Beighton, Sheffield, South Yorkshire, S20 1AN.
3
FAITH MINISTRIES UK CHURCHES **TRUSTEES' ANNUAL REPORT** FOR THE YEAR ENDED 31[st] AUGUST 2020
## Trustees/director’s annual report
The trustees confirm that the annual report and the financial statements of the charity comply with current statutory requirements, the requirements of the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015).
The company qualifies as small under section 383. The Trustees Report has been prepared in accordance with the special provisions of section 419 (3) of the Companies Act 2006 relating to small companies.
## **Objects and Activities of the Charity**
The objects of the Charity are:
- (a) To advance the Christian faith in London, Sheffield and Manchester through our local congregations and in such other parts of the United Kingdom or the world.
- (b) To relieve persons who are in conditions of need or hardship in various forms.
- (c) To advance education in accordance with Christian principles by such means as the trustees may consider appropriate including by means of establishing and operating any educational establishment.
- (d) Such other charitable purposes beneficial to the communities as a whole.
## **Structure and Governance**
The churches meet in local congregations that have been given local autonomy whilst continuing to work closely together as a family of churches. The trustees set out on page 3 are the directors of the company for the purposes of charity law and under the company’s Articles of Association. New trustees undergo an induction process and are made aware of their duties and responsibilities as trustees.
Faith Ministries UK Churches is made up of two local churches at the moment in London and Sheffield, each of which is run by leadership teams. The local churches develop their own local expression and involvement in the community whilst retaining the overall vision, values and mission of the whole. The Trustees have legal responsibility for the activities of the Charity in accordance with Charity Law.
## **THE WORK OF THE CHARITY**
## **“MOVING TO THE NEXT LEVEL”**
The vision of FMUK is to reach people and turn them into fully devoted followers of Jesus Christ. The theme for our church this year was “Moving to the next level.” The preaching and type of projects and activities carried out were focused on addressing this one theme and equipping people to practice it in the real world where they live, work, and study.
As a ministry, our mission is making disciples that make disciples: We are passionate about making disciples that are fruitful and faithful. Sunday celebrations, Children’s Sunday School, youth ministry, small groups, and the pulpit ministry were all about Moving to the next level in four areas: Growing in our relationship with God to the next level | Taking our faith in God to the next level | Taking our commitment to God to the next level | Growing your fruitfulness in every area of our lives through God to the next level.
## **Achievements and Performance**
This ministry year was distinctively different from all previous years because of the COVID-19 pandemic that affected the United Kingdom and the world as a whole. As a result of this, FMUK engaged less with the communities where our congregations are based physically and switched over to online service provision. FMUK was however able to reach a global audience through live streaming almost all our ministries and services.
4
FAITH MINISTRIES UK CHURCHES **TRUSTEES' ANNUAL REPORT** FOR THE YEAR ENDED 31[st] AUGUST 2020
The V.I.P. Project for the less privileged in Sheffield held fortnightly, as well as the Gateway Coffee House ministry every week were functional for only four months of the year and then had to shut down for the rest of the period of the year in line with government protocols and guidelines for public health and safety.
## Worship and Prayer
FMUK increased the range of worship services during the week and on weekends both in London, Sheffield and Manchester but this was all online with a few services conducted onsite in Sheffield. The community found these services both practically beneficial and enriching spiritually even though they were online. Wednesdays, Thursdays and Fridays (Sheffield) are normally the days for prayer and opportunity for people to spend time with God in solitude and in corporate prayer with other people. Sheffield also holds special guest services at Easter time, End of the year and on Christmas Eve.
## Young People
Young Adults ministry was able to address the spiritual needs and concerns of young adults in the community this year and reach out to young people in the city of Sheffield through online platforms and social networks. The young people could not host the annual Youth Explosion Conference this year.
## Conferences
Two annual Conferences were held in Sheffield Christian Centre, for the entire FMUK church family at Easter time and in July. Many have found these conferences refreshing in their spiritual walk with God and to renew their faith commitment. We welcomed several guests from the community and from other nations we work in. As a public benefit, our practice as a church is that people from our communities do not have to pay any entry fee as these Conferences are community-focused events for our community to benefit from and be exposed to the Christian faith. The Conference is funded mainly from voluntary donations. The women held their own Conference at King’s Park Conference Centre in Northampton attended by over 80 women.
## Pastoral Care
As trustees, we took this period of national lockdown to carry out renovations at the Sheffield Christian Centre, a decision that was much appreciated by our congregation members and the community in general. The church has offered confidential counselling online to several individuals and families in different areas such as financial difficulties, parenting, schooling issues, health issues and marital relationships.
## Relationships with other Churches
FMUK Churches is part of Salt and Light Ministries which is an International family of more than 1000 churches across the globe. At national level, FMUK is a member of the Evangelical Alliance of UK (EAUK). Locally, we are part of the church communities and local agencies.
Other churches in the city have access to our water baptism facilities. This service was of immense benefit to these faith communities that we relate and work with it. We have very good working relationships with other churches and with ministers from various denominational streams.
FMUK supported other ministries and missions globally in places like India and Zimbabwe.
## Mission and Evangelism
FMUK continued its partnership with other charities that work with the marginalised sections of society such as ASSIST Sheffield that seeks to challenge destitution of asylum seekers. We offered practical and financial support at such a time when the asylum seekers were going through a tough season during the pandemic.
5
FAITH MINISTRIES UK CHURCHES **TRUSTEES' ANNUAL REPORT** FOR THE YEAR ENDED 31[st] AUGUST 2020
## **Future Plans**
The trustees are currently considering purchasing new equipment for live streaming and purchasing new chairs for the main Auditorium. The trustees and elders are also planning to invest in missional drives to grow the church and its influence in the community.
## **Financial review**
## Going Concern
The trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
The Statement of Financial Activities for the period is set out on page 9 of the financial statements. Incoming resources for the year were £226,625 (2019: £208,055). Total expenditure on charitable activities together with governance costs amounted to £215,169 (2019: £194,894). Net surplus for the year was £ 11,455 (2019: £48,399 deficit) resulting in an unrestricted fund balance at the year-end of £65,884 (2019: £57,396).
## Risk Assessment
Faith Ministries UK Churches has carried out risk assessment to identify potential financial risks that the organisation may face and steps have been taken to mitigate these risks. Organisational risk assessments are carried out in order to assess and manage major risks. These include financial, property, staff, trustees and major incidents.
## Reserves Policy
The Trustees have a goal to set up a policy of retaining reserves sufficient for the foreseeable needs (about three to six months) of the church. Trustees The trustees consider enough reserves are held at the year-end and will set a formal reserves policy in the coming year. Free reserves at 31 August 2020 were £65,884 (2019: £57,396).
## Volunteers
We would like to thank the 30 plus volunteers who work so diligently to make our church welcoming and vibrant community that is full of faith and love. In particular, we would like to thank our pastors, elders, leaders and ministry teams such as ushering, hospitality, administration, catering, counselling, media team, missional life communities and life transformation group leaders.
## Public Benefit Reporting
The trustees of Faith Ministries UK Churches have given due regard to the public benefit guidance as issued by the Charity Commission as per regulation 40(2)(c)(ii) of the public benefit reporting requirements, when reviewing aims and objectives and in planning future activities of the church.
6
FAITH MINISTRIES UK CHURCHES **TRUSTEES' ANNUAL REPORT** FOR THE YEAR ENDED 31[st] AUGUST 2020
## **Statement of Trustees’ responsibilities**
The trustees (who are also directors of Faith Ministries UK Churches for the purposes of company law) are responsible for preparing The Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally 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 incoming resources and application of resources, including the income and expenditure, of the charitable company for the year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper 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.
This report was approved by the Trustees on 23[th] May 2020 and signed on their behalf by:
**Signed**
**Date:** _31/05/2021_
Name: Bright Mude Chairman Board of Trustees
## **By order of the Trustees/Directors**
7
FAITH MINISTRIES UK CHURCHES **INDEPENDENT EXAMINER’S REPORT** FOR THE YEAR ENDED 31[st] AUGUST 2020
## Independent Examiner’s Report
I report on the accounts of the company for the year ended 31 August 2020, which are set out on pages 9 to 16.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. The charity’s gross income does not exceed £250,000 and I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants (CIMA).
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:
- examine the accounts under section 43 of the 1993 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act; and
- to state whether particular matters have come to my attention.
## **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:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
- have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Name:** Padmore Makumbe (ACMA)
**Address:** 83 Cairns Road, Beighton, Sheffield, S20 1AN, South Yorkshire, England.
**Date:** 31 May 2021
8
FAITH MINISTRIES UK CHURCHES **STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT** FOR THE YEAR ENDED 31[st] AUGUST 2020
## Statement of Financial Activities
|**Notes**
**Incoming resources:**
Donations and legacies
**2**
Charitable activities
**3**
Other trading income
Investment income (bank Interest)
**Total income**
**Resources expended:**
Charitable activities
**4**
Raising funds
**5**
**Total expenditure**
**Net movements in funds**
**Reconciliation of funds:**
Total funds brought forward 01 Sep. 2019
**Total funds carried forward 31 Aug. 2020**|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**2020**
**£**
**£**
**£**
176,438
22,233
198,672
23,843
450
24,293
3,576
-
3,576
84
-
84|_Total_
_2019_
_£_
_190,105_
_17,064_
_423_
_463_|
|---|---|---|
||**203,941**
**22,683**
**226,625**|_208,055_|
||195,453
18,203
213,656
-
1,514
1,514|_256,454_
_-_|
||**195,453**
**19,716**
**215,169**|_256,454_|
||**8,489**
2,967
**11,455**
**57,396**
13,199
**70,595**|_(48,399)_
_118,994_|
||**65,884**
**16,166**
**82,050**|_70,595_|
The above statements include all gains and losses recognised during the year.
All activities relate to continuing operations.
Comparative figures for the previous year by fund type are shown in Note 10 (a), (b) and (c).
The notes on pages 9 to 16 form an integral part of these financial statements.
9
## FAITH MINISTRIES UK CHURCHES **BALANCE SHEET** AS AT 31[st] AUGUST 2020
## Balance Sheet
|**note**
**Fixed assets**
Leasehold Property
**9**
Tangible assets
**Current assets**
Stock
Debtors
**7**
Cash at bank and in hand
**Creditors:** Amounts falling due within 1 year
**8**
**Net current assets**
**Creditors:**falling due after more than 1 year
**8**
**Net assets**
**Funds**
**10**
Unrestricted funds
Restricted funds
**Total funds**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
48,155
-
82
-
23,781
-
42,439
6,352
**66,303**
**6,352**
(8,759)
-
**57,543**
**6,352**
(30,000)
-|**Total**
**2020**
**£**
**48,155**
82
23,781
48,791
**72,655**
(8,759)
**63,895**
(30,000)|
_Total_
_2019_
**£**
_48,155_
_-_
_24,070_
_47,169_
**_71,321_**
_(8,882)_
**_62,440_**
_(40,000)_
**_70,595_**
_57,396_
_13,199_
**_70,595_**|
|---|---|---|---|
||**65,884**
**6,352**|**82,050**||
||65,884
-
-
16,166|**65,884**
**16,166**||
||**65,884**
**13,199**|**82,050**||
The trustees consider that the company is entitled to exemption from the requirements to have an audit under the provisions of section 477 of the Companies Act 2006 (“the Act”) and the members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved by the trustees on **31 May 2021** and signed on their behalf by:
B. Mude
## _**Trustee**_
The notes on pages 11 to 16 form part of these financial statements.
10
FAITH MINISTRIES UK CHURCHES **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31[st] AUGUST 2020
## Notes to the Financial Statements
## **1. Accounting policies**
## _**1.1 Accounting convention**_
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS102)), and the Companies Act.2006.
Faith Ministries UK Churches meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction values unless otherwise stated in the relevant accounting policy.
## _**1.2 Reconciliation with previously Generally Accepted Accounting Practice**_
In preparing these 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 are required.
No restatements were required.
## _**1.3 Fund accounting**_
Funds held by the charity are either:
- Unrestricted general funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
- Designated funds – these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.
## _**1.4 Income**_
All income is recognised once the company has entitlement to the income; it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## _**1.5 Expenditure**_
Resources expended are recognised in the period in which they are incurred. It is probable that a transfer of economic benefits will be required in settlement and the amount of obligation can be measured reliably.
## _**1.6 Going concern**_
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## _**1.7 Tangible fixed assets and depreciation**_
A limit of £100 has been set for the capitalisation of assets. Consideration is given to the anticipated length of asset life in applying this rule.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.
11
FAITH MINISTRIES UK CHURCHES **NOTES TO THE FINANCIAL STATEMENTS** - continued FOR THE YEAR ENDED 31[st] AUGUST 2020
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their estimated useful lives on the following annual rates:
Fixtures and fittings - 5 years straight line Leasehold Land and buildings - 0% straight line
## _**1.8 Interest receivable**_
Interest on funds held in deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
## _**1.9 Operating leases**_
Rentals under the operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.
## _**1.10 Debtors**_
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## _**1.11 Cash at Bank and in hand**_
Cash at bank and in hand includes cash and short term highly liquid investments with a short-term maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## _**1.12 Liabilities and provisions**_
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advance payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.
## _**1.13 Taxation**_
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **2. Donations and legacies**
|Tithes and offerings to church
Missions and other funds
Gift aid
**Total**|Unrestricted
Funds
Restricted
Funds
**Total**
**2020**
_Total_
_2019_
**£**
**£**
**£**
_£_
143,639
10,398
**154,037**
_130,904_
2,730
11,836
**14,566**
_21,576_
30,069
-
**30,069**
_37,624_|
|---|---|
||**176,438**
**22,233**
**198,672**
_190,105_|
||12|
FAITH MINISTRIES UK CHURCHES **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31[st] AUGUST 2020
## **3. Income from charitable activities**
|Training courses and conferences
Use of building and facilities
Building Fund
**Total**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2020**
**Total**
**2019**
**£**
**£**
**£**
**£**
4,173
-
4,173
15,711
770
450
1,220
1,353
18,900
-
18,900
-|
|---|---|
||23,843
450
24,293
17,064|
## **4. Expenditure on charitable activities**
|**Direct charitable costs**
**Note**
Courses and conferences
Ministry support
House of Hope support
Pastoral ministry
Salaries
**6**
**Church running expenses**
Governance: legal and finance costs
Insurance
Depreciation
**9**
Bank charges
Phone, mobile phones, and IT
Postage, stationery, and promotion
Equipment
Rent
Independent examination
Catering
Loss on Investments
**Centre expenses**
Utilities: gas, electricity, and water
Renovations, repairs, and maintenance
Cleaning and janitorial
Council tax and health & safety
**Total**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2020**
**£**
**£**
**£**
1,860
0
**1,860**
45,977
11,286
**57,263**
6,248
5,265
**11,513**
5,921
0
**5,921**
100,563
0
**100,563**
1,272
0
**1,272**
5,373
0
**5,373**
0
0
**0**
77
0
**77**
9,188
0
**9,188**
767
**767**
70
1,652
**1,722**
6,277
0
**6,277**
0
0
**0**
2,307
0
**2,307**
0
0
**0**
6,357
0
**6,357**
1,121
0
**1,121**
719
0
**719**
1,356
0
**1,356**|**Total**
**2019**
£
18,919
37,702
10,363
7,991
102,682
1,346
2,550
0
74
6,355
1,511
5,058
13,933
0
0
33,715
4,702
6,811
770
1,973|
|---|---|---|
||**195,453**
**18,203**
**213,656**|256,454|
13
FAITH MINISTRIES UK CHURCHES **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31[st] AUGUST 2020
## **5. Fundraising costs**
|**taffing costs**
Staffing costs were as follows;
Gross wages and salaries
Social security costs
Pension costs
Travel, subsistence and training
House of hope fundraising Christmas dinner
**Total**|**Total**
**2020**
**_Total_**
**_2019_**
**£**_£_
82,098
89,339
10,141
5,155
8,324 8,188
**100,563**
**102,682**
Unrestricted
Funds
Restricted
Funds
**Total**
**2020**
_Total_
_2019_
**£**
**£**
**£**
_£_
-
1,514
_1,514_
_0_
**-**
1,514
_1,514_
_0_|
|---|---|
|||
## **6. Staffing costs**
During this current financial year, no staff received remuneration of more than £60,000 (2019 - £ N I L). One trustee received a remuneration totalling £6,000 in this financial year (2019 – £626). There were no other transactions in respect of trustees, persons closely connected with them or other related parties which require disclosure.
No remuneration was paid to any trustee during the period nor to any person connected to them.
– The average number of staff during the year was 2.5 (2019 2).
## **7. Debtors and prepayments**
|Other debtors
Prepayments
**reditors and accruals**
Trade creditors (liabilities falling due within one year)
Funds Held in Trust
*Long-term creditors (liabilities falling due after more than one year)|**Total**
**2020**
**Total**
**2019**
**£**
_£_
23,781
24,070
0
0
**23,781**
**28,236**
**Total**
**2020**
**Total**
**2019**
**£**
_£_
3,216
3,738
5,543
5,143|
|---|---|
||**8,759**
**8,882**
30,000
40,000|
||**38,759**
**48,882**|
## **8. Creditors and accruals**
14
*This amount is part of a loan extended by Salt and Light Ministries UK to FMUK to facilitate the ministerial re-organisation of the London congregation to facilitate its growth and influence.
FAITH MINISTRIES UK CHURCHES
**NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31[st] AUGUST 2020
## **9. Tangible fixed assets**
|**Cost**
At the beginning of the year
Additions
Revaluations
Disposals
Transfers
At end of the year
**Depreciation**
At the beginning of the year
Charge for the year
Revaluations
Disposals
Transfers
At end of the year
Net Book Value at 31 Aug 2020
Net Book Value at 31 Aug 2019|**Leasehold**
**land &**
**buildings**
**£**|**Other land**
**&**
**buildings**
**£**|**Plant,**
**machinery and**
**motor vehicles**
**£**|**Fixtures,**
**fittings and**
**equipment**
**£**|**Total**
**£**|
|---|---|---|---|---|---|
||56,165|-|
-|
7,839|64,004|
||**-**|
**-**|
**-**|
**-**|
**-**|
||**-**|
**-**|
**-**|
**-**|
**-**|
||**-**|
**-**|
**-**|
**-**|
**-**|
||**-**|
**-**|
**-**|
**-**|
**-**|
||**56,165**|**-**|
**-**|
7,839|**64,004**|
|||||||
||8,010|**-**|
**-**|
**7,839**|15,849|
||-|**-**|
**-**|
**-**|
-|
||**-**|
**-**|
**-**|
**-**|
**-**|
||**-**|
**-**|
**-**|
**-**|
**-**|
||**-**|
**-**|
**-**|
**-**|
**-**|
||**8,010**|**-**|
**-**|
**7,839**|**15,849**|
||**48,155**|**-**|
**-**|
**-**|
**48,155**|
||**48,155**|**-**|
**-**|
**-**|
**48,155**|
## **10. Funds**
## a. Restricted funds
The restricted funds represent amounts received for specific purposes and the movements in the period are as follows:
|House of hope fundraising
dinner
Car park project (for youth)
Bishop Mission Fund
African Children's Choir
Manchester Church Planting
VLC Church Plant
Christmas Ball
**Total**|**Opening**
**Bal. as at**
**31.8.19**
**Incoming**
**Resources**
**Outgoing**
**Resources**
**Transfers**
**Closing**
**Bal. as at**
**31.8.20**
£
£
£
£
£
(2,410)
994
(5,265)
-
(6,682)
12
450
-
-
462
2,709
6,622
(400)
-
8,931
1,829
-
-
-
1,829
1,245
10,478
(10,886)
-
837
-
2,340
(1,652)
-
688
-
1,800
(1,514)
-
286|
|---|---|
||**3,385**
**22,683**
**(19,716)**
**0**
**6,352**|
15
The following funds have been created/maintained due to income grant monies that have been provided to Faith Ministries UK Churches for a specific purpose:
- House of Hope Fundraising Dinner: This is a fundraising event organised to raise funds for the House of Hope ministry focused on supporting the local community with emergency food and other practical needs.
- Car Park Project: This is a fund raised from the church car park once a year. The money raised from festival attenders in the nearby Park is set aside to support the youth ministry active in the city of Sheffield and beyond.
- Africa Children’s Choir: These funds were raised through Concert tickets and purchase of regalia supplied by the Choir. The purpose of the funds for meeting educations needs of the Choir members in Uganda where they are based.
- Manchester Church Planting: An appeal was made to members of FMUK for donations specifically intended to be used for the new church plant in Manchester
16
## FAITH MINISTRIES UK CHURCHES **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31[st] AUGUST 2020
- b. Unrestricted funds
|General fund
**Total**|**Opening Bal.**
**as at 31.8.19**
**Incoming**
**Resources**
**Outgoing**
**Resources**
**Transfers**
£
£
£
£
57,396
203,941
(195,453)
-|**Closing**
**Bal. as**
**at**
**31.8.20**
£
65,884|
|---|---|---|
||**57,396**
**203,941**
**(195,453)**
**0**|**65,884**|
- c. Analysis of net assets between funds
|Restricted funds
General funds
**Total**|**Fixed**
**assets**
**Bank &**
**cash**
**balances**
**Other**
**net**
**assets**
£
£
£
6,352
9,814
48,155
42,439
(24,710)|**Total**
£
16,166
65,884
**82,050**|
|---|---|---|
||**48,155**
**48,791**
**(14,896)**||
## **11. Benefits in Kind**
Faith Ministries UK Churches receives volunteers' time free of charge. This item has not been given a monetary value.
17
LE BLANK
18