## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||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
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