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||||||Page|
|---|---|---|---|---|---|
|Reference and administrative||details ofthe Company,||its Trustees and advisers||
|Trustees'
report|||||2-6|
|Independent|auditors'
report|on the financial|statements||7-10|
|Consolidated|statement offinancial activities|||||
|Consolidated|balance sheet||||12-13|
|Company
balance sheet|||||14-15|
|Consolidated|statement ofcash flows|||||
|Notes to the|financial statements||||17-35|
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|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
||||Note|2022
8|2022
6|2021f|
|Income from:|||||||
|Donations
and|legacies|||1,337,659|1,337,659|1,093,854|
|Charitable
activities||||46,727|46,727|16,255|
|Other trading
activities||||270,451|270,451|108,875|
|Investments||||47|47||
|Total income||||1,654,884|1,654,884|1,218,988|
|Expenditure
on:|||||||
|Raising funds||||298,674|298,674|219,647|
|Charitable
activities|||7|848,900|848,900|627,759|
|Total expenditure||||1,147,574|1,147,574|847,416|
|Net income||||507,310|507,310|371,572|
|Revaluation
of|properties||18|||2,170,000|
|Net movement|in funds|||507,310|507,310|2,541,572|
|Reconciliation|offunds:||||||
|Total funds brought||forward||4,825,848|4,825,848|2,284,276|
|Net movement|in funds|||507,310|507,310|2,541',572|
|Total funds carried||forward||5,333,158|5,333,158|4,825,848|
##
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|||Note||2022
K||2021f|
|---|---|---|---|---|---|---|
|Fixed assets|||||||
|Tangible assets||12||5,867,372||5,794,538|
|Current assets|||||||
|Debtors||14|959,904||892,440||
|Cash at bank snd|in hand||348,929||58,315||
||||1,308,833||948,755||
|Creditors: amounts|falling due within one||||||
|year||15|(162,571)||(153,936)||
|Net current assets||||1,146,262||794,819|
|Total assets less|current liabilities|||7,013,634||5,589,355|
|Creditors: amounts|falling due after more||||||
|than one year||16||(1,680,476)||(1,753,507)|
|Total net assets||||5,333,158||4,825,848|
|Charity funds|||||||
|Restricted funds||18|||||
|Unrestricted
funds||18||5,333,158||4,825,848|
|Totalfunds||||5,333,158||4,825,848|
|The Company was|entitled to exemption|from audit under|section 477|ofthe Companies|Act 2006.||
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||||FOR|TH|E YEAR ENDED 31 MARCH 202|2||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|Cash flows from operating|||activities|||||
|Net cash|used in operating||activities|||586,922|377,736|
|Cash flows from investing|||activities|||||
|Purchase|oftangible
fixed assets|||||(168,698)|(49,054)|
|Advancing|loans|||||(40,000)|(418,500)|
|Net cash|used in investing||activities|||(208,698)|(467,554)|
|Cash flows from financing|||activities|||||
|Repayments
of borrowing||||||(85,610)|(48,505)|
|New loans|||||||150,000|
|Net cash|(used in)/provided||by financing||activities|(85,610)|101,495|
|Change
in cash and cash|||equivalents|In|the year|292,614|11,677|
|Cash and|cash equivalents|at the beginning|||ofthe year|56,315|44,838|
|Cash and|cash equivalents||at the end|of|the year|348,929|58,315|
|The notes|on pages 17to 35form part ofthese financial statements|||||||
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||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2022|2022|
||||6|6|
|Donations|||1,335,779|1,335,779|
|Grants|||1,880|1,880|
||||1,337,659|1,337,659|
||||Unrestricted|Total|
||||funds|funds|
||||2021
8|2021f|
|Donations|||1,054,308|1,054,308|
|Grants|||39,546|39,546|
||||1,093,854|1,093,854|
|Income from charitable||activities|||
||||Unrestricted|Total|
||||funds|funds|
||||2022|2022|
|||||6|
|Income from charitable|activities - Church events||46,727|46,727|
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|Unrestricted|Total|
|---|---|
|funds|funds|
|2021
6|2021f|
|16,255|16,256|
##
##
||||||Unrestricted|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2022|2022|
||||||E||
|Charity trading||income -|venue|rental|199,855|199,855|
|Sales ofgoods||at events|||53,058|53,058|
|Coronavirus|government||grants||17,538|17,538|
||||||270,451|270,451|
||||||Unrestricted|Total|
||||||funds|funds|
||||||2021f|2021
6|
|Charity trading||income -|venue|rental|20,759|20,759|
|Sales ofgoods||at events|||7,426|7,426|
|Coronavirus|government||grants||80,690|80,690|
||||||108,875|108,875|
##
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
|Investment|income|46|46|
|Interest receivable||1|1|
|||47|47|
|||Unrestricted|Total|
|||funds|funds|
|||2021
f|2021
f|
##
##
|Charitable|activities|
|---|---|
|Charitable|activities|
|Unrestricted||
|---|---|
|funds|Total|
|2022|2022|
|6|6|
|848,900|848,900|
|Unrestricted||
|funds|Total|
|2021|2021f|
|627,769|627,769|
##
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##
||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2022|2022|2022|
||||6|6|6|
|Charitable||activities|220,799|628,101|848,900|
||||Activities|||
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2021|2021|2021|
|Charitable||activities|'l46,656|481,113|627,769|
|Analysis||ofdirect costs||||
|||||Church|Total|
|||||operations|funds|
|||||2022|2022|
|||||6||
|Church|hosting|||58,668|58,668|
|Premises||costs||61,439|61,439|
|Ministry|and pastoral costs|||47,303|47,303|
|Media|costs|||27,900|27,900|
|Studio|costs|||2,112|2,112|
|Camp and||conference costs||1,677|1,677|
|Giving||||21,700|21,700|
|||||220,799|220,799|
##
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##
|||Church|Total|
|---|---|---|---|
|||operations|funds|
|||2021|2021|
|||8||
|Church|hosting|8,010|8,010|
|Premises costs||42,808|42,808|
|Ministry and pastoral costs||53,520|53,520|
|Media|costs|21,979|21,979|
|Studio|costs|857|857|
|Camp|and conference costs|(20)|(20)|
|Giving||19,502|19,502|
|||146,656|146,656|
||||Support|Total|
|---|---|---|---|---|
||||activities|funds|
||||2022|2022|
||||E||
|Staff costs|||394,483|394,483|
|Depreciation|||94,291|94,291|
|Printing,
post||and stationery|4,879|4,879|
|Insurance|||9,903|9,903|
|Telephone|and internet||9,065|9,065|
|Computer costs|||820|820|
|Professional||fees|20,616|20,618|
|Bank and cardnet charges|||25,733|25,733|
|Bank interest|||49,952|49,952|
|Other expenses|||18,357|18,357|
||||628,101|628,101|
##
##
##
||||||||Support|Total|
|---|---|---|---|---|---|---|---|---|
||||||||activities|funds|
||||||||2021f|2021f|
||||||||332,543|332,543|
||Staff costs||||||53,734|53,734|
||Depreciation||||||6,541|6,541|
||Printing,
post and stationery||||||9,222|9,222|
||Insurance||||||8,892|8,892|
||Telephone
and internet||||||836|836|
||Computer
costs
Professional fees
Bank and cardnet charges||||||8,578
1,369
50,120|8,578
1,369
50, 120|
||Bank interest||||||9,278|9,278|
||Other expenses||||||||
||||||||481,113|481,113|
|.|Auditors'
remuneration||||||||
||||||||2022|2021f|
||Fees payable to the Company's||auditor for the audit ofthe Company's||||6,600|5,700|
||annual
accounts||||||||
|10.|Staff costs||||||||
||||||Group
2022f|Group
2021f|Company
2022f|Company
2021f|
||Wages and salaries
Social security costs||||467,911
44,030|418,354
38,688|338,352
32,474|296,471
27,506|
||Contribution
to defined
schemes|contribution||pension|25,841|11,522|23,657|8,566|
||||||537,782|468,564|394,483|332,543|
##
##
##
||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|
||||2022|2021|2022|2021|
||||No.|No.|No.|No.|
|Church|and|administration|11|11|||
|Venue|hire|operations|7|7|||
||||18|18|11||
##
##
##
##
##
##
|||Long-term||||||
|---|---|---|---|---|---|---|---|
||Freehold|leasehold||Plant and|Fixtures|Office||
||property|property||machinery|and fittings|equipment|Total|
||8||8|8
E||E|E|
|Cost or valuation||||||||
|At 1 April 2021|5,220,000|808,872||66,967|156,499|3,161|6,255,499|
|Additions||||133,998|34,700||168,698|
|At 31 March 2022|5,220,000|808,872||200,965|191,199|3,161|6,424,197|
|Depreciation||||||||
|At 1 April 2021||273,687||29,419|156,097|1,760|460,963|
|Charge for the year||40,442||46,145|8,644|631|95,862|
|At 31 March 2022||314,129||75,564|164,741|2,391|556,825|
|Net book value||||||||
|At 31 March 2022|5,220,000|494,743||125,401|26,458|770|5,867,372|
|At 31March 2021|5,220,000|535,185||37,548|402|1,401|5,794,536|
|Company||||||||
||||Long-term|||||
||Freehold||leasehold||Plant and
Fixtures and|||
||property
6|||property|machinery
K|fittings
6|Total|
|Cost or valuation||||||||
|At 1 April 2021|5,220,000|||808,872|66,967|156,499|6,252,338|
|Additions|||||133,998|30,000|163,998|
|At 31 March 2022|5,220,000|||808,872|200,965|186,499|6,416,336|
|Depreciation||||||||
|At 1 April 2021||||273,687|29,419|156,097|459,203|
|Charge for the year||||40,442|46,145|7,704|94,291|
|At 31 March 2022||||314,129|75,564|163,801|553,494|
##
|Company
(continued)||||||
|---|---|---|---|---|---|
|||Long-term||||
||Freehold|leasehold|Plant and|Fixtures and||
||property
f|property
f|machinery
f|fittings
F|Totalf|
|Net book value||||||
|At 31 March 2022|5,220,000|494,743|125,401|22,698|5,862,842|
|At 31March 2021|5,220,000|535,185|37,548|402|5,793,135|
||||Group|Gmup|Company|Company|
|---|---|---|---|---|---|---|
||||2022f|2021f|2022
8|2021f|
|Freehold|property||3,544,835|3,544,835|3,544,835|3,544,835|
|Accumulated||depreciation|(679,094)|(608,197)|(679,094)|(608,197)|
||||2,865,741|2,936,638|2,865,741|2,936,638|
##
##
|Names||||Company|Registered|office or principal|Principal|activity|
|---|---|---|---|---|---|---|---|---|
|||||number|place ofbusiness||||
|V28 Ltd||||10081260|22 Rectory|Road, Beckenham,|Letting operations||
||||||Kent, BR31JA||||
|Citygate|Property|Holdings|Ltd|09817830|22 Rectory|Road, Beckenham,|Developing|building|
||||||Kent, BR31JA||projects||
|Class of|Holding||Included|in|||||
|shares|||consolidation||||||
|Ordinary||100'%%d|Yes||||||
|Ordinary||100'%%d|Yes||||||
##
##
||||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|---|---|
||||||2022|2021
f|2022
6|2021
f|
|Due within one year|||||||||
|Trade debtors|||||44,284|15,600|||
|Amounts
owed by group undertakings|||||||563,844|474,271|
|Other debtors|||||915,620|875,840|915,450|875,450|
||||||959,904|892,440|1,479,294|1,349,721|
|Included
within other|debtors|due within||one year is|a loan to an|individual
amounting
to 6915,450(2021-|||
|6875,450).The main|conditions are||as follows:||||||
|The loan is unsecured|and is repayable|||on demand|with 60 days notice and||the annual
interest accruing||
|is 10percent payable|on repayment||ofthe loan.||||||
|Further details are disclosed||in note|26.||||||
|Creditors: Amounts|falling|due within||one year|||||
||||||Group|Group|Company|Company|
||||||2022f|2021
5|2022
F|2021
5|
|Bank loans|||||83,943|85,522|63,943|72,355|
|Other loans|||||28,000|28,000|||
|Trade creditors|||||14,837|12,294|15,684|6,956|
|Other taxation and social security|||||13,951|9,945|11,079|7,043|
|Pension
contributions|payable||||2,239|2,080|2,239|1,793|
|Other creditors|||||14,500|9,695||1,337|
|Accruals and deferred|income||||5,101|5,400|5,101|5,400|
||||||162,571|153,935|98,046|94,884|
##
##
##
|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2022
6|2021f|2022|2021f|
|Bank|loans|1,680,476|1,763,507|1,614,643|1,677,674|
##
##
|Included
within|the a|bov|e are amou|nts
fallin|g due as follows:||||
|---|---|---|---|---|---|---|---|---|
||||||Group
2022|Gmup
2021|Company
2022
6|Company
2021
f|
|Between one and two|||years||||||
|Bank loans|||||126,450|94,850|106,450|74,850|
|Between two and five|||years||||||
|Bank loans|||||237,684|284,55f|191,851|224,551|
|Over five years|||||||||
|Bank loans|||||1,316,342|1,384,f06|1,316,342|1,378,273|
|The aggregate|amount||of liabilities|payable|or repayable
wholly|or in part more|than five|years after the|
|reporting
date is:|||||||||
||||||Group|Group|Company|Company|
||||||2022|2021|2022
E|2021
f|
|Payable or repayable||by|instalments||1,316,342|1,384,f06|1,316,342|1,378,273|
||||||1,316,342|f,384,106|1,316,342|1,378,273|
##
||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|
||||2022
6|2021
f|2022
6|2021
8|
|Financial assets|||||||
|Financial|assets measured|at fair value|||||
|through|income and expenditure||348,929|56,3f5|326,398|43,944|
##
##
##
|Stateme|nt|offunds - current ye|ar|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
|||||Balance at 1|||31 March|
|||||April 2021
6|Income
f|Expenditure
F|2022
f|
|Unrestricted||funds||||||
|General|fund|||5,414,253|1,390,503|(848,900)|5,955,856|
|Reserves||||(588,405)|264,381|(298,674)|(622,698)|
|||||4,825,848|1,654,884|(1,147,574)|5,333,158|
|Statement offunds - prior year||||||||
||||||||Balance at|
||||Balance at|||Transfers|31March|
||||1 April 2020|Income
f|Expenditure|in/out|2021
6|
|Unrestricted||funds||||||
|General|fund||2,761,910|1,135,113|(627,769)||3,269,254|
|Reserves|||(477,634)|83,675|(219,647)||(613,406)|
|Revaluation||reserve||||2,170,000|2,170,000|
||||2,264,276|1,216,968|(647,416)|2,170,000|4,825,848|
##
||||Balance at|
|---|---|---|---|
|Balance at 1|||31 March|
|April 2021f|Income
6|Expenditure|2022
f|
|4,825,848|1,654,884|(1,147,574)|5,333,158|
##
##
##
||||||||Balance at|
|---|---|---|---|---|---|---|---|
||||Balance at|||Transfers|31March|
|||1|April 2020|income
f|Expenditure|in/out|2021
6|
|General|funds||2,284,276|1,218,988|(847,416)|2,170,000|4,825,848|
|20.|Analysis|ofnet assets between funds|ofnet assets between funds|||
|---|---|---|---|---|---|
||Analysis|ofnet assets between funds - current year||||
|||||Unrestricted|Total|
|||||funds|funds|
|||||2022|2022|
|||||E||
||Tangible|fixed|assets|5,867,372|5,867,372|
||Current|assets||1,308,833|1,308,833|
||Creditors|due|within one year|(162,571)|(162,571)|
||Creditors|due|in more than one year|(1,680,476)|(1,680,476)|
||Total|||5,333,158|5,333,158|
||Analysis|of net assets between funds - prior year||||
|||||Unrestricted|Total|
|||||funds|funds|
|||||2021f|2021f|
||Tangible|fixed|assets|5,794,536|5,794,536|
||Current assets|||948,755|948,755|
||Creditors|due within one year||(153,936)|(153,936)|
||Creditors|due|in more than one year|(1,763,507)|(1,763,507)|
||Tl|||4,825,848|4,825,848|
##
##
##
##
##
||||||||Group|Group|
|---|---|---|---|---|---|---|---|---|
||||||||2022
E|2021f|
||Net income|for the|year (as per Statement|||of Financial Activities)|507,310|371,572|
||Adjustments|for:|||||||
||Depreciation|charges|||||95,862|54,366|
||Increase
in debtors||||||(27,464)|(14,183)|
||Increase/(decrease)||in creditors||||11,214|(34,0'19)|
||Net cash provided||by operating||activities||586,922|377,736|
|22.|Analysis of|cash|and|cash equivalents|||||
||||||||Group|Group|
||||||||2022|202'I|
||||||||F||
||Cash in hand||||||348,929|56,315|
||Total cash and cash|||equivalents|||348,929|56,315|
|23.|Analysis of|changes||in net debt|||||
||||At 1 April||At 31 March|
|---|---|---|---|---|---|
||||2021|Cash flows|2022f|
||||K|||
|Cash|at bank and in hand||56,315|292,614|348,929|
|Debt|due within|1 year|(116,602)|2,420|(114,182)|
|Debt|due after|1 year|(1,763,507)|83,031|(1,680,476)|
||||(1,823,794)|378,065|(1,445,729)|
##
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