GLIcA MAlSTREAm COMPANTr NO. $467339 ENGLA.%I) AND WALES A COMPANY LITrIITED BY GLAILthTEE AND NOT HAVI)G.4 SIL4RE C.4PITAL REGISTERED CHARITY )0. 1111739 FICIAL ST.4TEMENTS FOR THE YEAR ENDED 31¥f MAY 2021
GLICA% MAINSTRF.AM FINNcIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 CONTENTS Page Company Infom)aiion Annual Report Staiement of TrUceS. ResponsibililKes Independent Examiners RepKJrt Staiement of Financial Activities Balance Sheet Noi¢s io th¢ Financial Sthtem¢n 10-18
ANGLICAN MAINSTREAM FINA.*CIAL STATEMEI%TS FOR THE YEAR E)1 DED MAY 2021 ILMATION Directors and Trustee5 Canon Dr C. M. N. Sugden (Chaimian Rcv. Canon D. P. Banting Mrs S Finch Mrs R. Huni Canon A. PSland Drchik Ka Tan Mr Vi. Jone5 (appointed on 12 June 2021) Executive Seeretsrv Rev. A Synes Com i467339 {England and Wal¢s} Incorted 3 M3). ?005 Cbari Number 11739 i5tered Office 21 High Street Eynsharn Wiin Oxon OX29 4HE Banker5 CovorKrdtive Bank PIC PO Box 250 tkirHousC SoUtha5 Skelmersdale WN8 6WT Inde Ddent Examiner Mr Clii"e Pvrser i Siathld Road Bishops Iichington Souiham CV47 ?TQ
GLICAN MAINSTREAM .LYNL,IL REPORT FOR THE VLAR EN'DED Ji%1 MAY2021 The Direliors and Trustees prcsent their annual rewrt and financial SleMentS, for tlie year ended 31" May 2021. The financial stsiemenis hae been prepared in accordarkee "11h ihe accounling poliLiC5 %ei i)ui ii) ii(Ite I to the accounis and comply ith the Lharil! % memornndum and arti¢1¢s of association. lh¢ Companics Act 2006, the Charities Act 201 l. and Accounting and Repirting bi Charilies- Statement of Recommended Practice applicable to charili¢s pparIng their accounis in accordon¢e with the Financial Retxbrting Standard applicable in the UK and R¢publLL of Ireland- Charities SORP IFRS 102)- and th¢ Financigl Rewrting Standard applicable in th¢ UK and Republic of Ireland (FRS 10!). Ob ects of the Chari Prinei l Aetil'ities and Publie Benefii The Charity is constituted as a compan). limited bv guardntee and is. therefoTt. gowemed by a metnorandum and articles of aSsoci10n. The Charity's object ond its principal activity is that of 'ihe advan¢ement of religion through th¢ promotion. teaching. maintenance and practice of the scripturnl truths on w'hich the Anglican Church is founded" The ChariN continucs to ¢xplore nem wa%'s of achiei'inq these objectives. bui there have no changes in either Ihe obj¢LlS ol-the Charity.. or the EK)licies in pla¢e to a¢hiei'¢ them. The Trustccs haN¢ rei iem'ed the Charit%. objects and aciii'ities and are of the Vie that the public ben¢fLt l¢st conlinues to k totsll) satisfied. In forniing ihis opinion. the Trust¢es haN'e considered the guidance issued by the Charity Commission wilh regard to publi¢ iKnefit. Theo aDisation of Our Work The Charity is organised so thal the Trustees meet a1 ¢onvers¢ tEgularl io manage its affairs. The post of Exe¢uti%'e Secretary is a salaried wsition. and dal. io da!. resFonsibilits' of the Charitl S affairs is delegated to this indii'idual. The p8)m¢ni of k salaTh io the Executii'e Secretsry is in accordance with the Charily"S constitution. Develo ments and Achievements Th¢ TrusT¢¢S consider thai th¢ TKrforTnance of the ChariD has been saiisfaaor). The Chariij. ¢oniinu¢s ti) sei the building blocks for the promoiion of its objects and has liaised iiith oiher charitstrle organisations to this end. During the year. through its websile featuring a dails, feed of news and comrnent. the Charity has continued to proNide a substantial inforniation resource for orthl0X Anglicans in England and around the world. focussing particularly on areas 'here ihe Church"s hisioric teaching and prdctice c(xn¢s inio confli¢[ wilh ¢ont¢mporary' culiural nomis. The Charits" continues to proi'ide commentaTr and netw'orking activiti. in the context of Church of England and global Anglican debaies and repons on marriage and sexualiry.. religious freedom and Christian mission in ihe modern world. The Charity. ¢ontinues lo reswnd to requests for comment in ihe media on ihese and other issues. li ¢oniinues its close association wilh the worldwide Anglican Communion in developing countries through GAFCON and its UK a1]Iate. GAFCON UK Ifornierli FelloH5hip of Confessing Anglicans). and by channelling financial suppon for sel¢¢t¢d Anglican ministries in the dei'eloping orld. Future Develo mettts The Trusiees hope to continue to build up)n thc foundations laid in the initial perids of activity. and as above. bui no particular future developments are planned.
ANGLICAN MAINSTREAM AAL REPORT FOR THE YEAR E)DED 31- 2021 Transactions And FinAn¢ixl Posilion Thc slatcmcT]t of financial actii'ities shom's net incoming unrestriaed resources of £3.656 for the year12020: ouigoing £12.620). and ihe iotsl fund balances Carried foThiard st(KMJ ai £9.037 {?0?0- £8.710). Th¢ Trust¢es recognise thai the Covid-19 pand¢mic had a >ignificant impacr on ihe finances of the Charity.. "ith donation income to general funds dowTt significantli from March ?O?O onardS. M¢asur¢s to cut ¢os15 and s¢¢k alternatiN'e avenues of fundraising were implemenied. and appropriaie changes have bqen made to ensure ihat the Objects ¢8n ¢onlinue to be achIeed on a smaller budg¢t. Th¢ Trustccs b¢li¢v¢ that this is reflected in the figurcs for the )'ear ?fv? l. and are no confident in the long ierm susthinabiji of the Charity. Tan 'ble Fixed Assets for Use b ' the Chari Details of movements in fixed assets are set out ift the notes 10 the accounts. None of the assets are belicvcd to be valued ai a materially different sum from refleci¢d in the accounts. erative Relationshi 'ith Other O anisatioLs Anglican Mainstreatn has infornial links with oih¢r chuh¢S. charities and organI10nS. worldwide. who generdll) share its charitable objeciiies and from lim¢ to titne .orkS 'Ith them on partKular projects. Some of these other charities and organisations offer supp)rt for th¢ work of Anglican Mainstream by waj of grant funding. donaiions. or paynents for consuliing work. Reserves Poli li is the policN of the chartlN' to build up suffi¢i¢nt unrestriaed funds. iihich are ihe free reserves of the Charity. io a l¢i'¢l which equates io approximatel!" Ihree months unresiricted expenditure. This will provide sufficierkt funds to coi'er the ongoing promotion of the Charits" s Objec togdher with the *S1&¢d support and administration costs. Directors and Trustee5 All Direaors of the Companv are also T[eeS of the Charity.. and there are no other TnJst¢¢s. All of the Trustees on page I serned dunno ihe lear. The Board has ihe pO¢r TO aptx)ini additional Trustees as li considers fit to do so. 2nd. as the need arises. appropriate trnining "111 be gii'en io an) new Trustees taking up office. Rei,d Canon Dr Chris Su¥den. who has serned &$ Chair since 1st August 2014. signs the Repon in this capacity. Risk Man emeDt The Trustees have ¢xawnined the major straiegic. business and operniional risks which Charitv faces or mav faLe. and confimi ih81 svstems are in place io enable r¢gular rewrts io be pr(MJuced. so that the necessary steps ¢an be taken io I¢s5en an) such risks. The principal risks fa¢¢d bi the charit% are the sustainability. of income. and the ongoing reslrdint over. and control of, operdiing costs. Both of these risks are under constant review and monitoring. Readers, attention is also drawn io noie 17 to the accounts regarding pension issues.
AN Ll AN MAINSTRL4M R THE YEAR EIYDED 31. MAY 2021 This rcwrt has bccn PreF[ra in a¢coTdancc with thc sinall wmpnies ffgimc of the Coruparn¢s Act 20(. rov tcth&..:. 2.f.2021, and signed on its This report thas appTov¢d b). the B(th of Dlrcctors and Tru#¢¢s m... ... . behalf bv.. CAnon Dr C M N Sug , Chair of Trustees Date
GLIC .AlSTREAm STATEMENT OF TRLSTEES, RESPONSIBILITIES FOR THE YEAR E)DED JI. MAY 2021 The Trustees are required b% la to prepare financial 5thtements for each financial ye¥ whi¢h give a truc and fair view ot. Ihe stale of affairs of the Charits. and of lis resulis for that p¢riod. In preparing those finan¢ial sthtements. the Trustees are required to: Select suithbl¢ accounting wlicies and then appl). them consi51ently- Observe the m¢thods and principles in the applicable Chariii¢s SORP. Make judgem¢nts and estimates thai are reasonable and prudeni; Stale whether applicable accounting standar(ts have been followed. subjeci io any material departures disclosed and explained in the financial slatcment Prepare the financÈal statements on the going concern basis unless it is inappropri*e io presume thai ihe Compan! will continue in business. The Trustees are r¢sponsible for keeping proper accounting records whi¢h diloSe w'ith reasonable accurdcy ai any time the financial EK)Sition of the chariTh'. and to enable them io ensure that the financial statements ¢ompl)' with the Companies Aci ?006. the Chariiies Act ?01 l and (he applicable Chariiies SORP. The) are 4150 reswnsible for safeguarding ihc ass$ of the ¢harits and henc¢ for taking reasonabl¢ steps for ihe prevention and detection of fraud and oiher irregularities. The Truslees are resFK)nsible for the mainienance and integrity of the charity and financi81 inforniation included on ihe charity s M'ebsile in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial sthtemcnts. By Order of the Board of Directors and Trnstees Callon Dr C M N Su%den. Chair of Trnst¢es
INDEPENDELYT EmINER's REPORT TO THE TRUSTEES OF GLICAN .LsTREAVA I repon io ihe charity trust¢es on m J. examination of the account5 of the company. for the ri{l ended 31. May 2021. which are sei our on pag¢s 7 to 18. iTrt res onsibilities of the irnsiee4 *nd exgrnintr As Ihc Lhdritl. 5 Ifublees tsl-tlie Loiiipaii% land also its direciors for the purposes of company law) you arc responsible for th¢ preparntion of the accounts in accordance with the requirements of the Companies Aci 2006 {'the 2006 Act'l. Having satisfied myself thai ihe a¢¢ounts of the cotnpan>' are noi required 10 be audited under Part 16 of the 2006 Aci and are ela8ible for independeni examinaiion. I repon in respect of m), examination of Kout ¢hariry's a¢counis as catTied oui under secrion 144 of lh¢ Charities Act ?0 I I (the -201 l Aci-l. In carrying Out my examination I have followed the Directions gtven b). the Charit" Commission under section 145{5Xbl of ihe 2011 Aci. Basis of inde dent examiner'5 re M} examination was carried out in accordance '1th the General Directions given by. the Chartty Commissioners. An examination includes a review of the accouniing records kept bN the charity. and a comparison of the accounts pres¢ni¢d wilh those record5. li a150 includes consideraiion of anj unusual iiem5 or disclosures in the accounts. and seeking explanations from l'ou as rnsiee5 concerning an) such matiers. The procedures undenaken do noi provide all the evidence thai would be required in an audit, and con5equenily no opinion 15 given as to whether the accounts preseni a -mie and fair view., and the report ks limiied to thos¢ maners set oul in the 5tai¢m¢nt below. Inde ndent examiner's siaiemeni I have cornpleied rtL)' examin10. I conftrni that no matters have come io my all¢ntion in connection with the examination giving me cause io believe: I l ) accounting records were not kepi in respea of th¢ Company &$ required by section 386 of the 2006 Aci: or {2) Ihe accounts do noi accord wilh ihose accouniing records.. or {3) the accounts do not compl!, w'ith the accounting requirements of seciion 396 of ihe 2006 Acr other than an}. requiremeni ihat ihe accounts give a-lrue and fair Vie% which 15 noi a rnarttr considered as pan of an independeni examinaiion- or 141 the accounts have noi been prepared in accordance 'Ith the methods and principl¢s of rhe S(aiemeni of Recommended Prdctice for accouniing and reporting b). chariiies lapplicable to chariii¢5 preparing their account5 in accordance with the Financial Reportlllg Standard applicable in the UK and Republic of Ireland {FRS 10211. I have no concems and have come acros5 no other matters in connection with the examanatton to whieh attention should be in thks report in order io enable a proper understanding of the accounts to be reached. li 2rJ%l. Dated
ANGLICAN MAINSTREAM BALAIY HEET AT31- MAY 2021 COMPANY NUMBER 5167339 021 2020 Fixed A Investments Ikbtors Cash at Bat 3.982 12,IK>3 5.885 12.530 18,415 Failing Duc in Onc Ycar 9,71 Net Curren¢ Assets 9.036 8,709 Tot81 Awts less Current LiknÈlili being Net A&sds 9,037 8.710 Unrcstrictd Funds Rcstrictcd FuThls tksignatrd Funds 7.9.$0 i87 5(K) 4,294 3,916 io 9.037 8.710 The CO?<T th& for rmI ¢txkd 31" May 2021 tlr clwilabk con4w wa5 ¢iticd to eXem"On from requirements to Iw'¢ an a"1 uTraeT prth'ision of 477 of Compan$ 2(KK>. No nKmbcror nIE¢r5 has'e WsAÈed a wStsD8 an for Cufte tnIM1 wxkr 110 476 of Act. tneeS1th.ecrS xkTh)wl(yJgc tirir JEswmTrJibiies foT enwring tIMt conwTh. keepswunting ffcords lllch Coll3. 1th Sttuon 386 of the Aa 2{m a1 prepan]]g siaiem¢tts H'lu"ch a1 fair i'icH' 0[ of a(fairs of compam.. as at of fimTKial of its profit or loss for fi11 wiod in &CO Thith Icqui£nts of SeawtL$ 393 aThl 394. aTra oUrrF•"ise cornply ith requitemerts Ad aatcnrrn& far as alIle to tkn Chan"#1¢ compam.. Approved by the Bord of Dirertors and Trustees on MkA&..2.o...2021 and sigttd on its behalf by: CanoD Dr C M N Sugdett Thc note5 on pages 10 to 18 forni part of these accowlts.
ANGLICth lIF¥sTREAm NOTES TO THE FIIAThCIAL STA TEMENTS FOR THF. YF.AR F.NDED 31. MAY 2021 Accounti Policies (al General Information These finanLial slatcwncnis haie been presented in Pounds Sierling as this is ihe currency of ihe primary economic enl'ironment in h1¢h the Compan)" operates. (b) Basis of preparation The acLoun(s I fLnan¢ial statements) hai'e E*en prepared under the historical cost convention with iiems r¢¢(>gnised al cosi or irdnsaciion ialue unless otherwise stated in the relevant noteslsl to these accounts. The finanetal slalcmcnts have been prepared in accordance wilh ihe Statement of Recommended Prydciice.. Accouniing and Rep)ning Charities preparing ihcir accounts in aLcordatL¢C i%ith the Financial Rewrting Standard applicable iii the UK and Republic of Ireland IFRS 10?F Chariiies SORP (FRS 102). atkd the Financial RertIng Standard applicAbl¢ in the UK and RepublÉc of I1#[ IFRS 102)- the Charities Act 2011 and the Companies ALI !IM)6. The charity constitutes a public benefii entit)." as defined FRS 102. The charity has taken advantsge of the ewnption to prepare a c•sh flow stst¢menL as contained in Finan¢ial RetxTrrting Stsndard l. on th¢ gri)unds that it is a snall charity. (c) ActiTr'ities The financial stai¢ments include the results of the charity s operati<y)s as described in the directors and rrustees annual reFOrt. {d) Income recognition Income of all kinds is accounied for en receivable. i.¢. in the period in which th¢ charity is eniiiled io receipi. it is probablc th ihe income will be received and the amount of income receivable can be measured reliablN. No mineI endownenis have been received in the riod. (e) Expenditure rttognitio Liabililies are recognised as expenditure as sn as there is a legal or ¢onstructive oblÈgation ¢ommitting the ¢harit%" to thai exndIre. 11 is probable ihai settleTnent 11] required and the amouni of the obligaiion ¢an be reliably" measured. Expenditure is included on an accruals basis and has been ¢las5ifiai under headings thai aggregate all ¢Oas relaied to the categorv. All core CO ¢ategories are garded as being of a support nature to the Charikn s principal activity,. as d¢scribed in th¢ Annual Rert. It is aniicipat¢d thar an). future specific projects will be covered by restriCd funds- i.e. funds rdised specifically for thai proj. 10
YCLICl MALJSTREAM NOTES TO THE F[.Al¥ClAL sTATEmETs FOR THF. YF.AR F.ryDF.D 31 MAY 2021 Aeeountirt Policies CODI'd (f) Grants paTr#ble Grants pa)'able are pa!Inents made io third parties. either indii'iduals or other charitable organisaiion& in the furtherdnce of the charity s objects. In ihe case of unconditional grani offers. these are accrned on¢e ihe rrcipient has ken notified of the awdrd. Conditional grants are only accrued when the conditions hai'e been fulfilled and the recipient notified. No mulii-year grants made. other than whete addiiional funding has been received through a r¢stri¢ted fund. Ig) Value added tax Value added is noi recoi'erable b% the charl.. and as such is incluikd IT] the leVant ¢osls in the sia(emeni of flnancial actii ilies. (h) Financial assets- cl&&sified b&si¢ fiDaD¢il insiruments i) Cash and cash equivalents Cash and cash equiN'alents include cash in hand. dcFKTrSits held M'ith banks. and other short lerni highli liquid in&'estm¢nts 1th original Mlln(leS of thr tnonths or less. ii) Trdde and other rtteiN"ables Trdde and oth¢r reCeIable$ thai are receii'able within one )'ear are measured at the undiOuR1ed amouni of ihe ¢ash expeCd to be receiv. net of any impaimient. iii)Trad¢ and other pa}'ables Trad¢ and other pa)'abl¢s that are payable within one year are measured at the undiscounted amount of the cash exwed to k paid. Fund accounting UnresiriLted funds coniprise ihose funds M,hich the inCeS are free to use in accordance with the objects of ihe chariT¥. as defined in the ¢onstitution. Designated Futlds are those w aside by the Twstees out of unrestricted general funds for specific future purFrt)ses or projects. R¢stri¢ted Funds are those giN"en for particular purrx)ses and projects. (i) Going concern The finaEi¢ial 51atements have en prepared on a going concern basis. Th¢ curreni e¢onoTlliC conditions present increased risks for all businesses. In regponse to such conditions. Ihe directotste¢S hai'e carefull% ¢onsidered these risks. including an 4ssessment of uncenaint) on future irnding projeciion for a Peri of at leasi 12 monihs froTn the date of signing the financial sraiements. and the extent to which thev might affe( the preparation of the financial statements. The directorsltrusiees have concluded that the going concern basis remains appropriate.
NGLICA.N MAIThSTREAM IIOTES TO THE FINAI%CIAL STATEMEI¥TS FOR THE YEAR ENDF.D 2021 Accountin Policies cont'd {k) Translation of Foreign Currellcies Forrign currencN Irdn%ictions are Mslated inio Pounds Strrling using the exchange rdte pr¢vailing ai the date thc transac¥ions tk place. Whcre this is not rK)ssible to det¢rniine. income and exFnse items are translated using an ai'erdge exchange rnie for th¢ peri. Monelary assets and liabilities denoMinad in foreign currencies at the reTX)rting dale are reported at the rates of e.Kchange preiailing ai thai date. Foreign exchange gains And losses resulting from ihe 5¢tt1ement of such transactions and from the translation at the rewrting date of monetsry assets and liabiliiies are rewrted in the ffttement of financial actil'ities. Operating ise5 Ren15 applicable to opernting le&ses whetr substantially all the b¢nefits and risks of oM'n¢rship remain ¥ith the lessor. are reflccted in the staiemeni of financial activities as incurred. (m) PeDSiOIIS The Compani, operated defined contribtsiion rKnsion heM¢S and the rrtnsion charge represenl Ihe amounts pa)able b) the Compan) the funds in respect of the )'ear. Position utttil April 2020 The rele&ani &heii)e was the Church of England Funded Pensions Scheme. about whi¢h further infom)aiion is qii en in Notc 17 to these fitwlcial statements. Anglican Mainstream ceased paving into The Church of England Funded Pensions Scheme in April ?O?O. Posttion from April 2020 The companN coniinues io operdie a defined contriblon peftsion schen in respect of the sole salaried emplo!e¢. The scheme s asseis are held b)" independeni managtirs. True and Fatr Ob'erride Linder FRS I O? Ihe r¢cognition of nSIOn costs under The Church of England Funded Pensions SLheme. as explained in note Im) 2lx)ve. is no longer consider¢d appropriat¢. However. th¢ Trustees consider ihai. in order for the accounis to show a tru¢ and fair N iew, pension costs bein¥ refled as The paimenls made in the year remains the appropriat¢ disclosure. Previous to April 2020. agreemeni had been ached with Th¢ Church of England Pensions Board such thal an), projccied pensions funding shonfall would be paid ovcr a numkr of Jears. iogether wilh Ihe usual annual contribuiions. Incomin¥ funding io the Charity was sought to cover this bud4etcd additional exnse. again on an annual basis. and th th¢ overdll matching of income and ourgoing r¢sources ilas tM)ih ¢onsistenL and a better indicator of thc careful steardShIp of ihe Charitv's resources. 12
ANGLECAN .MAlIISTREAM YOTES TO THE FI)ANCL4L STATEME.NTS FOK THE YEAR ENDED Ji¥t.MAY 2021 Activities in furtherance I the Charits"'¥ ub eL'ts "nresiricied Resirieied Funds Funds 2021 Total Unreslricied Funds Funds 2021 2020 ToLg1 Funds 2020 Funds 2020 2021 Cost Contributions. Honoraria and Consultsn¢J' Fee Income Costs of Raisin Funds nrestricted Restricted Funds Fund5 2021 2021 Total LntrIci¢d Funds 2020 esirieted Funds 2020 Total Fund$ 2020 2021 Lit¢rwur¢ for resale No costs of this kind were Ex)rne b). the Designated Funds in 2021 or 2020. Costs ofAetivities ID Furtherance of the ChaTi Linrestricted Restricted Funds Funds 2021 Total Urtr¢stricted Funds Funds 2021 2020 estncted Total Funds 2020 2021 2020 Property expenses Station¢ry & supplies Pa}roll cost5 Telephone/f&Qemail Trai'ellaccommi)aaiiun Sundry Exp¢nses Conference etc costs Consulranc% fees Subscriptions Book-keeping Bank chargei1ere$t Website cosis Independeni Examiners Fee AcLouniancy Legal cosis Msc Eient&'Communicationl Adminisirntion 7.384 2.384 2.708 168 30.481 378 1.465 13 855 168 30.481 19.60? 448 19.602 448 1,465 13 855 5.050 63 84 168 1.420 63 84 168 1.420 53 2,0ti9 2iO 2.193 5.050 160 1.170 510 839 4.832 1.170 510 839 4.832 7.029 250 2.193 7,585 7.585 28.694 28.694 43.579 8.083 51.622 13
No St5 of this kind were IK)rne b). the tksi8naied Funds in 2021 or 2020. GLIC% MAINSTREAM I%OTF.S TO THE FINKNCLiL STATEMENTS FOR THE YEAR F.%I)F".I) 31 .MAY sta Costs 2021 2020 Tbe aN'erage number of pemanent peTsonnel employed b!. the Chariiable Compani" during the peri w&s: Adminislrntike (Executii'c Se¢retsry ) Tbe aggregale wayroll costs of these employees were as folloM's: 2021 2020 Salari¢s xnd Fringe Benefits (Companv Cosl) National Insurance Costs Pension Costs 14.802 22.897 1.240 6.344 4.800 19.602 30.481 No remuneration is paid to any" Trustee. No employee received eTnoluments atrKbve £60.(X)O. The posi of Executive Secretary is a salaried $( and this is in Stria accordance with the Charitv's constitution. (iv) No expenses are paid to any TnJees. occasional. low value. reimbursements are made where ov¢rhead iiems have been incunrd b!. either Trustees. etnplol'ees or volunteers. 6(al Defici¢ Isur Iu5 for th¢ Period 2021 2020 The rylu5 ofexpenditure oi'er income is stated after Charging: IndeFKndent Examiners Fee- - Examination - Oth¢r 250 1.600 3.232 Paymenis under operating leases - premises reni .384 2.708 61b) Interest Pavable #Dd Similar Cb2 2021 2020 Bank Interest and Charges 53 510 14
NGLICAN .41sTREAm OTES TO THE FINANCIAL STATEMEliTS FOR THE YEAR ENDED ISI MAY 2021 6(c) CJfdDts Ex llded The following grants were expended.. Uttr¢stricted Reslricied FuDds Funds 2021 2021 Total Unreslrieted Funds Funds 2021 2020 e5tneted Funds 2020 Total Funds 2020 To Organisations To Individuals ??.588 10 ?2.)88 10 2,655 1.852 ?.655 1.852 22.598 22.598 4.507 4.507 No grants We mad¢ from the Designated Funds in either ?021 or 2020. 6{d) Transfers Bett*'eeD Funds There ere no such transf¢T5 in ?0? l or ?O?O. Fixed Asset IDI'estmeDts 2021 2020 Shares in subsidiary CO The subsidiary is AM Gafcon Limiied. a compan). incorp)rnted in England Wales. AM G2f¢on Limited aS fomied specificall), ro allo for rhe hosiing and facilitating of a major international th¢ologi¢al conference. The agggate capilal and reserves in AIM Gafcon Limiied at 31° May 2021 is £1 and there was no profit or loss for the y'ear. Anglican Mainstream owns I/0 of the ordinary Sha capithl in AM Gofcon Limiied. Debtors 2021 2020 PreYme1ts and Sundrv Debiors Amounts due from AM G4fcon Litnited 3.982 5.676 209 3.98? 5.885 15
.4NC.LIC.4P4 MAINSTREAM OTES TO FLNANCIAL STATF.MF.STS FOR THF. YF.AK ENDED 31ft MAY 2021 Crediturs: Amounts Fallin Due in One Year 2021 2020 Sundry cditOrS and Accrua15 Pai'roll T¢$ 6.481 528 9.121 585 7.IM)9 9.706 io. Restricted Funds eals Pro ects Moi'ement ID R urees Balance 111106120 Incomin & Transfer5 & T LL5 Balanc oin 31104121 e Sex and Culture Gro Cieneral Organisationimj ¢¢iing expenses MSC Africa 2.716 9,240 5.153 9.463 227 213 436 Others Venables ConsUlnc. Support Fellowship ofcontessing Anglicans Pass Through Mone) EangelIcal Fellowship in the Anglican Communion IEFACI 6(M) 5,100 5.643 701 58 13.008 12.934 74 3.916 30,OfA 33.393 587 .Marria e Sex #nd Culture Gro The MSC group Sed b) Dr l.isa Nolland. has for some l.ears brought iogeiher expens in fields r¢lated lo th¢ aims of Anb)lican Mainsiream. for information sharing and adi,ac). 'or.. As well as conferences and publi¢aiions in the UL .MSC has also raised funds lo sUPWrt a community. development and sexual health proje¢1 in Ken)'a (referred to as'MI SC Africa. in the accounts).. Dr Nolland and her adminisirdtive assistants recei1¢ expenses bui no salan.. In laie ?O?O it aS agrea that MSC would b¢¢ome a rtem. organisaiion ieparate frown Anglican Mainstream. and this 111 reflected in ihc ?022 accounts. Ei"an elical FelloiTr'$hi in the An lic8n Communion EFAC In Jun¢ 2020 Jnon¢!' donated io An¥liean Mainstream io pass on to projects in Ghan& Madagascar. India and L.ganda. where ihe local Anglican Di(KCS¢ was aSSiSling ][h eMergeY relief as a result of the Covid pandemic. 16
ANC.LICk% NL4INSTRF.AM NOTES TO TH ANCIAL STATE.MENTS FOR THE YEAR EWDED 31ST MAY 2021 ii. De51 nated Funds These funds have been allted from unrestricted fLbnds b). the Trusiees. to held for ihe following PUTposes:_ Balance Dd/ 0111)6120 TrnDsfert Balance 31105121 General Emergency R¢li¢f Fund 500 12. ReeonciliAtion of Moi'emeDt ID Shareholders. Funds Anglican Mainstream. being a compan> limited b). guar8ni¢e and a regIsted charity. has no shareholders: it is. therefoK inappropriate 10 include a trconciliation of the mov¢ments in shareholders, funds. 13. Share Ci Anglican Mainstream is limited bj guarante¢ ond does noi have a share capital. 14. Anal sis of Net Assets bets'een Funds Tan Fiied Assets IDI'esthients Current Total RvsiriL¢rd FLLJids Unresiricted Funds Designated Funds 587 7.919 587 7.950 500 9.036 9.037 Is. Commitmeuts In Ihe opinion of the Trust¢e& there were rko outstanding commitments at 31° Ma>, 2021. 16. ratin i*ase Commitments The CompanN' has a commitmeni in res1 of an operating le for reni of office premises. The compan). paid £2.i84 during th¢ )"¢ar and the lease is subject to a 6 month noiiLe period. 17
AJGLICAI% %IALN'STREAM OTF.S TU THE FIL*cIAL STATEMF.hTS Foli THE YEAR ENDF.D 31. MAY 2021 17. Pension Commitments Position until April 2020 Th¢ Church of England Funded Pcnsions SLheJJJe is a defind benefit s¢heme but Anglican Mainstream is uiiable to identifi" its share ol. thc underl) ing assets and liabililies each eMploer in that Scheme pa)s a common contribution rdie. Periodi¢all)'. the scheme is i'alued and adjustments made to the employer s contiybution rdie as deemed necessary. For 4Lhemes such as The Church of England Funded Pensions S¢heffle. pVIouS rerK)rting standards (paragraph 9(b) of FRS 17) required the emplo1.cr io accouni for pension cOS on the basis of contributions actually pa)'abl¢ to the scheme in the )'ear. Under FRS 10? the recognition of Ftnsion CoS as explained aknve is no longer considered appropriatc. FloMeNer. the Trusiees consider thaL in order for the accounts io show a true and fair view. pension costs b¢in¥ reflected as the pajinenis made in the year remains the apprq)riai¢ disclosure. Previous to April 2020. agreemeni had txcn rtached with The Church of Englard Pensions Board such thai anj projecied pensions funding shortfall would be paid over a numiKr of year& iog¢ther wilh the usual an¥Jual contribuiions. Incoming funding) io the Lharity. was sought to coi'er this budgeted additional expense. again on an annual basis. and thus the overnll matching of incom¢ and outgoing resources would be ix)th consistenL and a better indiCar of the careful stewardship of the Charity's resources. Anglican Mainstream s ¢tnplo)'ee lthdre from The Church of England Funded Pensions Scheyne in April ?O?O. It 15 unders1 thai no furthcr claims will be made upon ihe charity for any projected pensions funding shortfall prior to the dale ihat contrbuiions ceascd king made. 18