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2021-03-31-accounts

Total Total
Unrestricted Restricted Funds Funds
Funds Funds 2021 2020
Note f E f f
INCOME AND ENDOWMENTS FROM:
Donations
and legacies		 3 406,827 74,068 480,895 602,364
Charitable
activities		 4 6,707 6,707 48,335
Investments 99 99 440
Total income and endowments 413,534 74,167 487,701 651,139
EXPENDITURE ON:
Charitable
activities		 5 400,042 133,070 533,112 563,997
Raising funds 6 1,751 23,736 25,487 29,284
Total expenditure 401,793 156,805 558,599 593,281
Net income/(expenditure) 11,741 (82,639) (70,897) 57,858
Transfers between funds 17 4,163 (4,163)
Net movement
in funds		 15,904 (86,801) (70,897) 57,858
Reconciliation offunds:
Total funds brought forward 1,531,977 238,819 1,770,796 1,712,938
Total funds carried forward 17 1,547,881 152,019 1,699,900 1,770,796
AS AT31M ARCH 2021
Iotal Total
Unrestricted Restricted Funds Funds
Funds Funds 2021 2020
Note 6 6 6 6
FIXED ASSETS
Tangible assets 8 2,136,627 2,136,627 2,152,752
2,136,627
CURRENTASSETS
Stock 9 3,164 3,164 4,381
Debtors 10 8,838 1,232 10,070 19,194
Cash at bank and in hand 11 134,401 165,474 299,875 351,834
146,403 166,706 313,109 375,409
CREDITORN Amounts falling
due within one year 12 (36,274) (14,687) (50,961) (33,354)
Net current assets 110,129 152,019 262,148 342,055
Total assets less current liabilities 2,246,756 152,019 2,398,776 2,494,807
CREDITORS: Amounts falling due
after more than one year 13 (698,875) (698,875) (724,010)
TOTAL NET ASSETS 1,547,881 \52,019 2,699,900 1,770,796
FUND BALANCES 17
Unrestricted
Funds
General funds 1,489,881 1,489,881 1,473,976
Designated
funds		 58,000 58,000 58,000
1,547,881 1,547,881 1,531,976
Restricted
Funds		 152,019 152,019 238,819
2,5472BLS 25&29 1,699,900 1.770796

Note 2021 2020
E E
Cash flows from operating
activities:
Net cash provided by (vsed injoperating activities (30,809) 78,298
Cash flows from investing
activities:
Purchase ofproperty,
plant and equipment
Net cash provided by/(used injinvesting
activities		 (14,993)
(14,993)		 (2,924)
(2,924)
Cash flows from financing activities:
Repayments
ofborrowing
Net cash provided by/(used in)financing		 activities (20,597)
(20,597)		 (18,461)
(18,461)
Change in cash and equivalents
in the reporting		 period (66,398) 56,913
Cash and equivalents
at the beginning ofthe year		 351,834 294,921
Cash and cash equivalents atthe end of the year 285,436 351,834
Analysis ofchanges
in net debt:
At start of Non-cash At end of
year movements Cash-flows year
E E E E
Cash 351,834 (66,398) 285,436
Bankloans:
Falling due within one year (20,379) (21,335) 20,597 (21,117)
Falling due after one year (575,810) 21,335 (554,475)
Total net funds / (debt) (244,355) (45,802) (290,157)
Note a:Reconciliation ofnet income/(expenditure) to net cash flow from operating activities
2021 2020
E E
Net income/(expenditure)
forthe reporting		 period (as per the statement offinancial activities) (70,897) 57,858
Adjustments
for:
Depreciation
charges		 31,118 30,045
(Increase)/decrease
in stocks
(Increase)/decrease
in debtors
Increase/(decrease)
in creditors		 1,217
9,124
(1,370)		 1,096
(4,088)
(6,613)
Net cash provided by (used in/
operating		 activities
Note b:Analysis ofcash and cash equivalents
2021 2020
E E
Bank current account
Bank deposit account (no notice)
Petty cash		 99,581
199,802
492		 113,568
237,556
710
Total cash and cash equivalents

3 Donations
and legacies
2021 2020
E 6
Donations ofcash and similar 355,244 442,269
Income tax recoverable 75,099 92,141
Legacies receivable 51,751
Grants receivable:
Government
grants, principally		 from the lob Retention Scheme 26,235
Other grants (not from the Government) 24,317 16,203
480,895 602,364
4 Income from charitable activities
2021 2020
E 6
Church activities and events 1,250 16,319
Letting offacilities in the Wellspring Church Centre 5,090 30,406
Books, music and media sales 368 1,610
48,335
5 Charitable
expenditure
2021 2020
6 E
a Costs incurred
directly		 on specific activities
Staff costs 173,214 150,911
Utilities 13,671 16,763
Outreach
Ik ministries		 6,556 10,656
Wellspring
North Bushey		 2,770 5,609
Wellspring
Stevenage		 1,370 2,327
Mission trips (870) 7,736
Centre hire costs 259 1,958
Pastoral expenses 5,045 14,576
Depreciation 31,119 30,044
Printing
&stationery		 2,062 3,461
Sunday services and worship 5,525 4,321
Youth &children's work 1,282 13,672
Visiting speakers and apostolic advisors 1,860 5,814
Maintenance,
repairs &replacements		 14,762 17,368
Training 30 599
Insurance 4,252 5,515
Storage space 580 1,750
Lease costs 1,717 1,667
Mortgage
interest		 21,417 25,988
Bank charges 753 985
Cost of resources purchased for re-sale 1,040 1,654
Other 62 3,606
Grants payable (note 5d) 39,594 46,442

2021 2020
s incurred
on		 support &administration f f
Governance costs
Preparation and examination ofaccounts 4,240 3,500
Staff costs 87,654 86,916
Other administrative expenses 1,407 2,660
Legal &Professionalfees 240 1,503
Office equipment 1,484 1,328
IT 4,291 3,928
erty development
expenditure 533,112 563,997

Grants payable
Institutions Individuals 2021
f 6
Grants to support
UK and overseas mission
Action Europe 3,000 3,000
Alternatives 1,200 1,200
Assemblies
of God		 9,405 9,405
Aziz Partnership 8,500 8,500
Charis Tiwala 1,200 1,200
East West Ministries 4,200 4,200
Lafiabougou
Church, Leegere		 762 762
New Hope Trust 2,614 2,614
Wafford Schools Trust 1,200 1,200
Wafford Town Centre Chaplaincy 1,200 1,200
Other grants 350 2,472 2,821
Grants for education
Operation
Steadfast (Jewels School, Sierra Leone)		 1,407 1,407
Grants for the relief of hardship 344 1,741 2,085
35,381 4,213 39,594

The comparatives
for the previous year are as follow		 s:
Institutions Individuals 2020
E E E
Grants to support
UK and overseas mission
Action Europe 3,000 3,000
Alternatives 1,200 1,200
Assemblies ofGod 9,405 9,405
Charis Tiwala 1,225 1,225
East West Ministries 4,213 4,213
New Hope Trust 3,021 3,021
Lafiabougou
Church,
Leegere		 1,323 1,323
One By One Sri Lanka 1,000 1,000
Wafford Schools Trust 1,225 1,225
Watford Town Centre Chaplaincy 1,225 1,225
Other grants 380 10,465 10,845
Grants for education
Operation
Steadfast (Jewels School, Sierra Leone)		 5,700 5,700
Other grants 353 353
Grants for the relief ofpoverty 34B 2,359 2,707
33,265 13,177 46,442
Cost of raising funds
2021 202O
E 5
Staff costs 20,342 25.137
Other expenses S.145 4,147
Analysis ofstaff costs, the cost ofkey management personnel and trustee remuneration
2021 2020
f E
Gross wages and salaries 247,915 235,494
Social security 14,476 14,594
Pension costs 14,142 12,676
Border Agency Fee &NHS Surcharge 3311
279,344 262,964
g the year the average monthly
number ofemployees
(including
furloughed		 staff) was:
2021 2020
Numbers Numbers
Full time staff 7 6
Part time staff 7 9
Total average monthly number ofemployees
Employer Employer
Wages & pension 2021
salaries contributions f
Trustees and those closely related to trustees
Rev Tim Roberts (Senior Minister and a trustee) 40,512 2,431 42,943
Rev Helen Roberts (for her part time role as a senior Leader) 19,253 1,155 20,408
Rev Helen Roberts (for her role overseeing the Dignify initiative) 9,100 546 9,646
Other members of key management 50,737 3,077 53,814
119,602 7,209 126,811
The cost of employing Rev Helen Roberts (who is married to Rev Tim Roberts) to oversee the Dignify initiative has been funded
by
restricted donations
received for this		 project.
The following amounts were payable in the previous year:
Employer
Wages Ik pension 2020
salaries contributions f
Trustees:
Rev Tim Roberts 40,512 2,431 42,943
Rev Helen Roberts 21,003 1,260 22,263
Other members of key management 55,047 3,046 58,093
116,562 6,737 123,299

Long Fixtures,
Freehold Leasehold fittings and Total
Property Property equipment 2021
E f f f
Cost
At 1April 2020 251,105 2,042,048 129,608 2,422,761
Additions 14,993 14,993
At 31March 2021 251,105 2,042,048 144,601 2,437,754
Accumulated depreciation
At 1April 2020 1,256 177,642 91,112 270,009
Charge for the year 20,420 10,698 31,118
At31March 2021 1,256 198,062 101,81D 301,127
Net book value
At 31March 2021 249,849 1,843,986 42,791 2,136,627
At 31March 2020
Stoc k
2021 2020
E E
Resources purchased for re-sale, at cost 3,164 4,381

10 Debtors
2021 2020
f E
Tax recoverable 7,401 13,244
Other debtors 2,670 5,950
10,070 19194
11 Cash at Bank and in Hand
2021 2020
f f
Bank current account 99,581 113,568
Bank deposit account (no notice) 199,802 237,556
Petty cash 492 710
299,875 351,834
12 Creditors: liabilities falling due within one year
2021 2020
f f
Trade creditors 8,006 5,676
Accruals for normal operating expenses 3,600 3,500
Accruals for property development expenses 14,439
Deferred income 3,800 3,800
Mortgage capital 21,117 20,379
50,961 33,354
13 Creditors: amounts
falling		 due after more than one year
2021 2020
f E
Deferred income 144,400 148,200
Mortgage
capital		 554,475 575,810
14 Deferred income
Deferred income comprises the following:
Sunshine 2021 2020
grant f E
Balance atthe beginning of the reporting period 152,000 152,000 157,880
Amount
released to income		 (3,800) (3,800) (5,880)
Amount deferred
in year
Balance atthe end ofthe reporting period 1482DO 148,200 152,000
The income deferred atthe period end will be released to income over the following periods:
Within one year
After one year		 3,800
144,400		 3,800
144,400		 3,800
148,200
148,200 148,200 152,000

The liability for the mortgage
referred to in notes 12and 13fa		 ll due for repayment
as follows:
Bank loans
By 2021 2020
instalments E E
Repayable:
Within one year 21,117 21,117 20,379
Between one and five years 92,483 92,483 89,252
After five years 461,992 461,992 486,558
575,592 575,592 596,189

Opening Incoming Outgoing Transfers Closing
balance resources resources in the year balance
2021 2021 2021 2021 2021
E E E E E
Designated
Funds
Charity Reserves 58,000 58,000
General Unrestricted Funds 1,473,977 413,534 (401,793) 4,163 1,489,881
Total iinresiricted Funds 1,531,977 413,534 (401,793) 4,163 1,547,881
Restricted Funds
Wellspring
Building fund		 221,111 38,516 (129,433) (4,163) 126,032
Stevenage
Building fund		 1,136 (1,136)
Dignify 12,413 14,800 (11,474) 15,739
Special Offerings 1,944 (594) 1,350
Steadfast 245 1,183 (1,427)
Compassion 1,054 5,658 (772) 5,940
Local Missions 568 (568)
Overseas
Missions		 2,861 11,500 (11,403) 2,958
238,819 74,167 (156,805) (4,163) 152,019
Aggregate offunds 1,770,796 487,701 (558,599) 1,699,900

The assets and liab iliti es of the various funds were as follow s:
Unrestricted Funds
General Designated Restricted
funds funds funds 2021
f f f E
Tangible fixed assets 2,136,627 2,136,627
Stock 3,164 3,164
Debtors 8,838 1,232 10,070
Cash at bank and in hand 76,401 58,000 165,474 299,875
Creditors falling due within one year (36,275) (14,687) (50,961)
Creditors falling due after one year (698,875) (698,875)
1,489,881 58,000 152,019 1,699,900
In the previous year (2020) the movements in the charity's funds were as follows:
Opening Incommg Outgoing Transfers Closing
balance resources resources in the year balance
2020 2020 2020 2020 2020
E f f E
Designoted
Funds
Charity Reserves 58,000 58,000
General Unrestricted Funds 1,457,389 485,028 (447,274) (21,166) 1,473,976
Totol Unrestricted Funds 1,515,389 485,028 (447,274) (21,166) 1,531,976
Restricted Funds
Wellspring
Building fund
Stevenage
Building fund
Dignify		 189,538
1,301		 135,233
344
12,013		 (124,827)
(508)
(353)		 21,166
753		 221,111
1,136
12,413
Special Offerings 1,263 2,558 (3,068) P53)
Steadfast 2,637 3,637 (6,030) 245
Compassion 1,902 2,679 (3,528) 1,054
Local Missions 80 1,816 (1,896)
Overseas Missions 827 7,832 (5,798) 2,861
197,548 166,111 (146,007) 21,166 238,819
Aggregate offunds 1,712,937 651,139 (593,281) 1,770,796

e previous
year, t		 he assets and liabilities ofthe various funds were as follows;
Unrestricted Funds
General Designated Restricted
funds funds funds 2020
6 E 6 E
Tangible fixed assets 2,152,752 2,152,752
Stock 4,381 4,381
Debtors 17,895 1,299 19,194
Cash at bank and in hand 52,849 58,000 240,984 351,834
Creditors falling due within one year (29,890) (3,464) (333S4)
Creditors falling due after one year (724,010) P24,010)
1,473,976 58,000 238,819 1,770,796

land expires in 2135. The payments
due u		 nder these lease s are as follows:
Ground 2021
rent Equipment f
Payments
falling due:
Within one year
Between one and		 five years 1,000
4,000		 1,604
4,291		 2,604
8,291
After five years 109,000
114,000		 5,896 109,000
119,896
The charity's
operating		 lease commitments atthe previous balance sheet date were as follows:
Ground 2020
rent Equipment f
Payments
falling due:
Within one year
Between one and		 five years 1,000
4,000		 1,250 2,250
4,000
After five years 110,000
115,000		 1,250 110,000
116,250

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