**REGISTERED COMPANY NUMBER: 05874811 (England and Wales) REGISTERED CHARITY NUMBER: 1117490**
**Report of the Trustees and**
**Audited Financial Statements for the Year Ended 30th June 2021**
**for**
**Creation Ministries International (UK/Europe) Ltd**
Sheen Stickland Chartered Accountants Statutory Auditors 7 East Pallant Chichester West Sussex PO19 1TR
**Creation Ministries International (UK/Europe) Ltd**
## **Contents of the Financial Statements for the Year Ended 30th June 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 6|
|**Report of the Independent Auditors**|7 to 9|
|**Statement of Financial Activities**|10|
|**Balance Sheet**|11|
|**Cash Flow Statement**|12|
|**Notes to the Cash Flow Statement**|13|
|**Notes to the Financial Statements**|14 to 19|
|**Detailed Statement of Financial Activities**|20 to 21|
**Creation Ministries International (UK/Europe) Ltd**
## **Report of the Trustees for the Year Ended 30th June 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th June 2021. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objectives of the charity are: to preach and proclaim the gospel of Jesus Christ; to support and promote the fact that Genesis is a literal, historical account of origins (involving the creation of all things in six solar days, a globe-covering flood, and a young earth and universe); to support Christians in their faith and encourage them to win others to Christ. We aim to do this through lecturing and preaching, and the promotion, publication, sale and distribution of books, magazines and audio-visual material on creation and related issues.
## **Public Benefit**
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
CMI exists to provide the following services:
- Conduct speaking ministry - talks, public lectures etc.
- Produce 'Creation magazine' (distributed to >110 countries) and the in-depth 'Journal of Creation';
- Send out monthly prayer letters and updates to subscribers;
- Publish and distribute books, DVDs and other resources;
- Host a dynamic and daily-changing website (creation.com) with >13,000 cross-referenced articles (including content in 45 languages other than English), plus hundreds of videos and audio clips.
- In CMI, we consider that the main groups that benefit from our charitable activities are:
- Christians and the general public;
- Churches and Christian Groups;
- Students at schools and universities.
Page 1
**Creation Ministries International (UK/Europe) Ltd**
## **Report of the Trustees for the Year Ended 30th June 2021**
## **ACHIEVEMENT AND PERFORMANCE OFFICE & ADMIN**
## **COVID UPDATE**
Full national lockdowns during November 2020 and January to April 2020, plus partial lockdowns and social restrictions September/October 2020 and May/June 2021, resulted in CMI’s ministry activities being severely restricted again throughout almost the entirety of the financial year. This resulted in a significant work load decrease for all staff. Furlough arrangements were as follows:
- July - August 2020, all staff with the exception of Dominic Statham returned to their conditioned hours.
- - November 2020 - May 2021, our ministry co-ordinator was placed on 50% hours, and all other staff reduced their hours by 1 day per week, saving us £2,793 per month.
- June 2021, our CEO Philip Bell resumed full time work, followed by a phased return of all other staff. All staff will be back to their conditioned hours from 1st Sept 2021.
- Total savings from furloughing of staff amounted to £22,300.
## **STAFF UPDATE**
- We said goodbye to Dominic Statham in August 2020, a valued part-time speaker/writer.
- We anticipate welcoming Andrew Sibley in August 2021 as a part time speaker/writer. Andrew worked as a meteorologist with the Met Office since 1983. He has been a lead expert on their space weather forecasting programme.
## **ADMIN & FINANCE**
- In summary, CMI has finished in the black this financial year largely due to judicious furloughing of staff, and our supporters’ continued generosity.
- Mail order sales have dipped by 5%. Taking into account the lack of booktables at seminars and conferences, this is a reasonable result.
- The difficulty of sending parcels to the EU since January 2021 has also affected mail order sales due to the consequent reduction in large EU orders. CMI is currently not registered under the IOSS scheme. However, we registered for the EU VATMoss scheme from 1st January 2021 in order to facilitate our continued sales of electronic products to EU customers.
- During the financial year, CMI made its DVDs available as streamed products to purchase through our webstore. (Previously only available as DVDs or MP4 downloads). Uptake is slow, but we hope this will improve over time.
- Donations have also dipped by 5% this financial year, lack of seminar donations largely contributing to this. Given the current financial state of the nation, we are very pleased with this outcome.
## **MAGAZINES & MAIL SHOTS**
- **Creation magazine** . From June 2020 these have been printed & posted from the UK. Printing here has been a great success with excellent quality and far better delivery times. New subscribers are mainly gained at public meetings, but with very few of these taking place this financial year, there has been a consequent decrease in new subscriptions & therefore a reduction in overall subscriptions. Total subscriptions hover at a little over the 3,000 mark.
- **Journal of Creation** . The last print edition of this scientific journal was volume 34(1) in April 2020. During this financial year, all editions have been digital only. Overall subscriptions have dropped by around 7% to just under 400 per annum. The switch to a better quality digital version has been popular amongst our European customers.
- **Infobytes** . These newsletters have been very important during the pandemic, both in terms of getting the information ‘out there’ but also to solicit mail order activity. We garner new subscribers to Infobytes at ministry events but due to Covid-19, this has not been possible. Consequently, our mailing list has not grown as much as in previous years.
Page 2
**Creation Ministries International (UK/Europe) Ltd**
## **Report of the Trustees for the Year Ended 30th June 2021**
## **PUBLIC EVENTS**
Our public speaking schedule was decimated during this financial year due to the ongoing COVID restrictions. Of events that had been booked in spite of the difficult circumstances, 28 were cancelled completely. Total physical speaking engagements for the year only amounted to 11 events, whereas we would typically do ca.140 events in a normal year. From July to October 2020, limited freedoms allowed for some events to take place, although audience attendances were understandably low. The November 2020 national lockdown put a stop to meetings. From December 2020 churches were allowed to open but due to the considerable restrictions, CMI public meetings were not judged practical. Our first physical meeting in 2021 took place on 28th March, and thereafter we had a gradual trickle of events. Looking forward, from July until December 2021 we are pleased to have 27 public meetings booked so far.
- ‘Humans: God’s Grand Design’ **Conference** . This had been scheduled for 2nd and 3rd October 2020 at a conference centre in Leeds but looked very uncertain in the light of the coronavirus pandemic. After considerable heart searching and prayer we decided against cancelling, but 10 days before the event, the Government banned conferences anyway. All ticket sales were refunded in full, and the conference took place online, free of charge. Much positive feedback was received. The financial loss to CMI on money already laid out was negligible.
- **Breakdown of speaking events** . 11 events took place in total. Gavin Cox 9, Lucien Tuinstra 5, Philip Bell 1. Per province: England 10 and Wales 1. Except for online events, we were unable to utilise our associate speakers.
- **Online Events** :
- **Webinars** . These events are open to anyone and are advertised via InfoBytes to our email list. 15 events were conducted, including 1 Saturday conference with 5 speakers. Breakdown of talks per speaker: Gavin Cox 4, Philip Bell 3, Lucien Tuinstra 2, Florin Mocanu (associate) 2, Tommy Fretwell (associate) 1, Phil Robinson (associate) 1, Prof A McIntosh (guest) 1.
- **Church zoom meetings** . These events are church specific, and usually took place where a physical meeting was cancelled. 9 events were conducted. 5 by Lucien Tuinstra, 2 by Philip Bell, 2 by Gavin Cox.
- **Radio Interviews** . 5 were conducted with ‘Life FM’, an Irish radio station, involving Philip Bell, Gavin Cox and Lucien Tuinstra.
## **WRITING**
- **Creation magazine** . 22 articles: Phil Robinson 10, Phil & Lucien Tuinstra 1, Gavin Cox 8, Philip Bell 2, Mike Matthews (guest) 1.
- Journal of Creation. 11 articles: Philip Bell 4, Gavin Cox 4, Lucien Tuinstra 2, Philip Robinson 1.
- **Creation.com website** . 5839 articles: Gavin Cox 18 + 3 co-authored, Lucien Tuinstra 10 + 2 co-authored, Phil Robinson 11 + 1 co-authored, Philip Bell 7, Andrew Sibley 4 + 1 co-authored, Florin Mocanu 1, Tommy Fretwell 1, Derek Moore-Crispin (guest) 1. (Some were co-authored with CMI staff globally).
- **Newsletters** . Supporters continue to appreciate receiving our quarterly Prayer News, Update letters and Creation Extra (the latter with Creation magazine) and some request extra copies for sharing more widely.
- - **Books** .
- Does Evolution Really Explain Everything About Life? Written/edited by Philip Bell, with major contributions from 10 PhD scientists, came into stock in August 2020 and has sold 500 copies in the UK. Initially planned for the UK only, this book is now stocked in its printed form in all the CMI offices worldwide.
- Discovering the Truth about Dinosaurs children’s book by Philip Bell & illustrated by Alison Brown has been completed and is due in our warehouse September 2021.
- Wonder of Science (by Dominic Statham) is currently at the printers in the USA and is due in stock October 2021.
- **Andrew Sibley** is leading a project to produce a colourful coffee-tablestyle book that will give evidence that the Jurassic coast of East Devon & West Dorset formed in ways that are consistence with the biblical Flood. This is in response to the naturalistic view that downplays evidence of the rapid burial of fossils.
Page 3
**Creation Ministries International (UK/Europe) Ltd**
## **Report of the Trustees for the Year Ended 30th June 2021**
## **FINANCIAL REVIEW**
## **Principal funding sources**
Regarding our General Fund unsolicited donations are still our principal source of charitable income; secondarily, the profits from the sale of literature. Our aim has always been to fund staff salaries through donations and this has been met year on year. In past years any surplus is made available to support our itinerant speaking ministry in the UK and overseas. This year with COVID restrictions these costs have been minimal. The surplus has been used to fund replacement activities. Predominantly this has meant writing projects in the form of new books and web articles, and also our online webinar programme.
## **Financial position**
Total income for the year amounted to £368,987 (2020: £377,324), all of which was unrestricted.
Total expenditure for the year was £331,959 (2020: £367,262), all of which was unrestricted.
Total funds at 30 June 2021 were £304,898 (2020: £267,870), all of which were unrestricted.
## **Reserves policy**
Reserves are held at a sufficient level to meet three month's payroll costs of the charity at any one time. Reserve funds of the charity are held in separate deposit accounts. It is not the policy of the charity to invest donors' money in high-risk funds.
## **FUTURE PLANS**
- **Conferences.** Our next conference is booked at the ‘Emmanuel Christian Centre’ in London for September 2022, having been postponed two years running. A refundable deposit has been paid to secure the booking.
- **Egyptian CMI tours** . Gavin Cox was due to jointly host two of three tours, initially in September 2020. Sadly, after a great deal of planning and with the tours fully booked, the ongoing uncertainty around COVID meant these tours were postponed until September 2021, and then again until September 2022.
- **Foreign Trips** . Plans have been made for seminars in the German part of Switzerland (March 22, Philip Bell), Italy (April 22, Gavin Cox) and Ireland (May 22, Lucien Tuinstra and Gavin Cox).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and appointment of new trustees**
There are six trustees and the aim has been for the make-up of these people to reflect a diversity of skills and experience, specifically (though not exclusively) as this relates to the work of a Christian ministry organisation. Currently, two of the trustees work for Creation ministry organisations overseas (one in Canada with a background in electronics and satellite systems; the other in Australia who was formerly a professional botanist); one has a strong financial background; one had a successful career in railway signalling; one was an IT data-base expert and one ran his own business. All are committed evangelical Christians who agree wholeheartedly with the Statement of Faith and aims of the charity. Future personnel will be recruited accordingly, taking into account any perceived lack in the group's pooled experience; ideally, persons with a proven pedigree of commitment to our ministry and/or commended to the Board.
## **Induction and training of new trustees**
Trustees are inducted formally by the Board and made familiar with the guidelines of the Charities Commission for trustees - both lawful requirements and the need to act in the best interests of Creation Ministries International. They are encouraged to find out about the requirement of charities to demonstrate public benefit, managing money (where necessary); the supervision and management of staff and volunteers, health and safety and equal opportunities; the management of resources and equipment belonging to the charity. Those who have no prior experience as a trustee are made aware of their liabilities and encouraged to look into the possible risks associated with being a charity trustee.
Page 4
**Creation Ministries International (UK/Europe) Ltd**
## **Report of the Trustees for the Year Ended 30th June 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
05874811 (England and Wales)
## **Registered Charity number**
1117490
## **Registered office**
15 Station Street Whetstone Leicestershire LE8 6JS
## **Trustees**
Dr D Batten R Fangrad M J Foster Dr R Healey (resigned 15.4.21) T J Matthews (resigned 29.10.20) R J Revell F Gunnink (appointed 29.10.20) D R Moore-Crispin (appointed 9.7.21)
## **Company Secretary**
P B Bell
## **Senior Statutory Auditor**
P E H Wright FCA DChA
## **Auditors**
Sheen Stickland Chartered Accountants Statutory Auditors 7 East Pallant Chichester West Sussex PO19 1TR
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Creation Ministries International (UK/Europe) Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees 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 that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Page 5
**Creation Ministries International (UK/Europe) Ltd**
## **Report of the Trustees for the Year Ended 30th June 2021**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, Sheen Stickland, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ P B Bell - Secretary
Page 6
**Report of the Independent Auditors to the Members of Creation Ministries International (UK/Europe) Ltd**
## **Opinion**
We have audited the financial statements of Creation Ministries International (UK/Europe) Ltd (the 'charitable company') for the year ended 30th June 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
- In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 30th June 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Page 7
**Report of the Independent Auditors to the Members of Creation Ministries International (UK/Europe) Ltd**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Enquiry of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims.
- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 8
**Report of the Independent Auditors to the Members of Creation Ministries International (UK/Europe) Ltd**
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
P E H Wright FCA DChA (Senior Statutory Auditor) for and on behalf of Sheen Stickland
Chartered Accountants Statutory Auditors 7 East Pallant Chichester West Sussex PO19 1TR Date: .............................................
Page 9
**Creation Ministries International (UK/Europe) Ltd**
## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 30th June 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
213,729
**Charitable activities**
4
Promotion, sale and distribution of religious
literature
132,882
Investment income
3
76
Other income
5
22,300
**Total**
368,987
**EXPENDITURE ON**
Raising funds
6,702
**Charitable activities**
6
Promotion, sale and distribution of religious
literature
325,257
**Total**
331,959
**NET INCOME**
37,028
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
267,870
**TOTAL FUNDS CARRIED FORWARD**
304,898|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-|2021
Total
funds
£
213,729
132,882
76
22,300
368,987
6,702
325,257
331,959
37,028
267,870
304,898|2020
Total
funds
£
226,104
140,506
772
9,942
377,324
10,900
356,362
367,262
10,062
257,808
267,870|
|---|---|---|---|
The notes form part of these financial statements
Page 10
## **Creation Ministries International (UK/Europe) Ltd (Registered number: 05874811)**
## **Balance Sheet 30th June 2021**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
11
12,817
**CURRENT ASSETS**
Stocks
12
63,743
Debtors
13
5,556
Cash at bank and in hand
229,691
298,990
**CREDITORS**
Amounts falling due within one year
14
(6,909)
**NET CURRENT ASSETS**
292,081
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
304,898
**NET ASSETS**
304,898
**FUNDS**
15
Unrestricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
-
-
-
-
-
-|2021
Total
funds
£
12,817
63,743
5,556
229,691
298,990
(6,909)
292,081
304,898
304,898
304,898
304,898|2020
Total
funds
£
17,672
50,121
4,092
210,029
264,242
(14,044)
250,198
267,870
267,870
267,870
267,870|
|---|---|---|---|
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. M J Foster - Trustee
The notes form part of these financial statements
Page 11
**Creation Ministries International (UK/Europe) Ltd**
## **Cash Flow Statement for the Year Ended 30th June 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Sale of tangible fixed assets
Government Coronavirus support grants
Interest received
Net cash provided by/(used in) investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|2021
£
5,139
(7,482)
(2,343)
(371)
-
22,300
76
22,005
19,662
210,029
229,691|2020
£
28,646
(6,624)
22,022
(20,874)
5,000
4,942
772
(10,160)
11,862
198,167
210,029|
|---|---|---|
The notes form part of these financial statements
Page 12
**Creation Ministries International (UK/Europe) Ltd**
## **Notes to the Cash Flow Statement for the Year Ended 30th June 2021**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustments for:**
Depreciation charges
Profit on disposal of fixed assets
Interest received
Interest paid
(Increase)/decrease in stocks
(Increase)/decrease in debtors
(Decrease)/increase in creditors
**Net cash provided by operations**|2021
£
37,028
5,049
(22,123)
(76)
7,482
(13,622)
(1,464)
(7,135)
5,139|2020
£
10,062
5,835
(9,942)
(772)
6,624
6,796
2,556
7,487
28,646|
|---|---|---|
2. **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.7.20|Cash flow|At 30.6.21|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|210,029|19,662|229,691|
||210,029|19,662|229,691|
|**Total**|210,029|19,662|229,691|
The notes form part of these financial statements
Page 13
**Creation Ministries International (UK/Europe) Ltd**
**Notes to the Financial Statements for the Year Ended 30th June 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Governance costs**
Governance costs comprise the costs of governance arrangements which relate to the general running of the charity.
## **Allocation and apportionment of costs**
Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Fixtures and fittings|- 25% on cost|
|---|---|
|Motor vehicles|- 20% on cost|
|Computer equipment|- 25% on cost|
Assets with either an initial cost exceeding £200 or a useful economic life exceeding three years are capitalised.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 14
**Creation Ministries International (UK/Europe) Ltd**
**Notes to the Financial Statements - continued for the Year Ended 30th June 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. DONATIONS AND LEGACIES**
|Donations
**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Sales
Promotion, sale and distribution of religious
literature
**5.**
**OTHER INCOME**
Gain on sale of tangible fixed assets
Government furlough grant|2021
£
213,729
2021
£
76
2021
£
132,882
2021
£
-
22,300
22,300||2020
£
226,104
2020
£
772
2020
£
140,506
2020
£
5,000
4,942
9,942|
|---|---|---|---|
|||||
|||||
continued...
Page 15
**Creation Ministries International (UK/Europe) Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 30th June 2021**
## **6. CHARITABLE ACTIVITIES COSTS**
|Promotion, sale and distribution of
religious literature
**7.**
**SUPPORT COSTS**
Promotion, sale and distribution of religious
literature
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Depreciation - owned assets
Surplus on disposal of fixed assets|Direct
Costs
£
323,057|Support
costs (see
note 7)
Totals
£
£
2,200
325,257
Governance
costs
£
2,200
2021
2020
£
£
2,200
2,200
5,049
5,835
(22,123)
(9,942)|
|---|---|---|
||||
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30th June 2021 nor for the year ended 30th June 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30th June 2021 nor for the year ended 30th June 2020.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable Activities
No employees received emoluments in excess of £60,000.||2021
£
154,019
8,441
7,980
170,440
2021
7||2020
£
161,900
10,144
8,277
180,321
2020
8|
|---|---|---|---|---|
||||||
||||||
The total value of employee benefits received by key management during the year was £30,316 (2020: £30,306).
continued...
Page 16
**Creation Ministries International (UK/Europe) Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 30th June 2021**
## **11. TANGIBLE FIXED ASSETS**
|Fixtures
and
fittings
£
**COST**
At 1st July 2020
999
Additions
-
Disposals
-
At 30th June 2021
999
**DEPRECIATION**
At 1st July 2020
874
Charge for year
125
Eliminated on disposal
-
At 30th June 2021
999
**NET BOOK VALUE**
At 30th June 2021
-
At 30th June 2020
125
**12.**
**STOCKS**
Stock
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Gift aid to be reclaimed
VAT
Prepayments and accrued income|Motor
Computer
vehicles
equipment
£
£
19,100
28,793
-
371
-
(1,387)
19,100
27,777
3,820
26,526
3,820
1,104
-
(1,210)
7,640
26,420
11,460
1,357
15,280
2,267
2021
£
63,743
2021
£
759
2,640
1,157
1,000
5,556|Totals
£
48,892
371
(1,387)
47,876
31,220
5,049
(1,210)
35,059
12,817
17,672
2020
£
50,121
2020
£
1,006
2,412
674
-
4,092|
|---|---|---|
||||
||||
||||
||||
||||
||||
||||
continued...
Page 17
**Creation Ministries International (UK/Europe) Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 30th June 2021**
## **14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
CMI Australia
CMI USA
Accruals and deferred income|2021
£
978
1,975
1,488
268
2,200
6,909|2020
£
8,111
2,086
225
203
3,419
14,044|
|---|---|---|
## **15. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.7.20
£
267,870
267,870
Incoming
resources
£
368,987
368,987|Net
movement
At
in funds
30.6.21
£
£
37,028
304,898
37,028
304,898
Resources
Movement
expended
in funds
£
£
(331,959)
37,028
(331,959)
37,028|
|---|---|---|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.7.19
£
257,808
257,808|Net
movement
in funds
£
10,062
10,062|At
30.6.20
£
267,870
267,870|
|---|---|---|---|
continued...
Page 18
**Creation Ministries International (UK/Europe) Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 30th June 2021**
## **15. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
377,324
377,324|Resources
Movement
expended
in funds
£
£
(367,262)
10,062
(367,262)
10,062|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.7.19
£
257,808
257,808|Net
movement
in funds
£
47,090
47,090|At
30.6.21
£
304,898
304,898|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
**16.**
**RELATED PARTY DISCLOSURES**|Incoming
resources
£
746,311
746,311|Resources
Movement
expended
in funds
£
£
(699,221)
47,090
(699,221)
47,090|
|---|---|---|
There were no related party transactions for the year ended 30th June 2021.
Page 19
**Creation Ministries International (UK/Europe) Ltd**
## **Detailed Statement of Financial Activities for the Year Ended 30th June 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Deposit account interest
**Charitable activities**
Sales
**Other income**
Gain on sale of tangible fixed assets
Government furlough grant
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Van expenses
Depreciation of fixtures & fittings
Depreciation of motor vehicles
Depreciation of computer equipment
Loss on sale of tangible fixed assets
**Charitable activities**
Wages
Social security
Pensions
Office rent
Insurance
Light and heat
Telephone
Postage and stationery
Honoraria
Travel & Subsistence
Outreach
Newsletters
Purchases
Closing Stock
Conference costs
Carried forward|2021
£
213,729
76
132,882
-
22,300
22,300
368,987
1,476
125
3,820
1,104
177
6,702
154,019
8,441
7,980
10,028
1,952
3,230
1,159
23,365
550
349
700
30,710
136,835
(63,743)
-
315,575|2020
£
226,104
772
140,506
5,000
4,942
9,942
377,324
5,064
249
3,822
1,765
-
10,900
161,900
10,144
8,277
10,021
1,871
3,060
1,517
21,455
2,161
8,741
1,603
31,882
134,182
(50,121)
845
347,538|
|---|---|---|
This page does not form part of the statutory financial statements
Page 20
**Creation Ministries International (UK/Europe) Ltd**
## **Detailed Statement of Financial Activities for the Year Ended 30th June 2021**
|**Charitable activities**
Brought forward
Bank charges
**Support costs**
**Governance costs**
Auditors' remuneration
Total resources expended
**Net income**|2021
£
315,575
7,482
323,057
2,200
331,959
37,028|2020
£
347,538
6,624
354,162
2,200
367,262
10,062|
|---|---|---|
This page does not form part of the statutory financial statements
Page 21