| Page | |
|---|---|
| ReferenceandAdministrativeInformation | 3 |
| Trustees'Report(IncludingStrategicReport) | 4-9 |
| Independent Auditor'sReport totheMembers ofHillsongChurchLondon | 10-12 |
| Statement ofFinancialActivities(incorporatinganincomeandexpenditure | account) 13 |
| Statement ofFinancialPosition | 14 |
| Statement ofCashFlows | 15 |
| NotesForming part of theFinancialStatements | 16-29 |
| Hillsong Church London ("TheChurch")isacompany limited by guarantee (Company No: 05487537) | Hillsong Church London ("TheChurch")isacompany limited by guarantee (Company No: 05487537) |
|---|---|
| RegisteredCharityNumber | 1120355 |
| Registered Office | Hillsong Church London |
| 425 New Kings Road | |
| London | |
| SW64RN | |
| Company Secretary | RNewton |
| Trustees | RDacre (Chairman) |
| JLestz | |
| RNewton | |
| DrRVan Dijk (resigned1July 2020) | |
| DrSWilson | |
| ESimmons | |
| BSinniah (resigned 30 September 2020) | |
| DWhitewood | |
| COkeke (appointed 24 September 2020) | |
| UObi (appointed 24 September 2020) | |
| DBagheri (appointed 24 September 2020) | |
| Management Team | GJClarke (Senior Pastor andCEO,resigned 30 April 2021) |
| T Douglass (Senior Pastor and CEO) (appointed5May 2021) | |
| A Spies (Chief Financial Officer) | |
| Bankers | Barclays Bank pic |
| 126 Station Road | |
| Edgware | |
| Middlesex | |
| HAB 7RY | |
| Auditors | RSMUK AuditLLP |
| 25 Farringdon Street | |
| London | |
| EC4A4AB | |
| Solicitors | Bates Wells |
| lOQueen Street Place | |
| London | |
| EC4R1BE |
| 6. | Approximately800 mid-weekhome-basedSmallGroups.Thesegroupscontinuedunder controlmeasures,with groupsand |
|---|---|
| communitiescontinuingto meet virtually, orinpersonifpossible. | |
| 7. | RegularYouthandYoungAdultsservicesandactivities at variouslocationsinLondon, GuildfordandTonbridgeandOxfordwhen |
| possible.Undercontrol measures, groups met virtually or outdoorsifpermissible.Online content was produced for youthandkids | |
| ministries. | |
| 8. | YouthMinistry,particularly to studentsinSecondarySchoolsinthe GreaterLondonarea. |
| 9. | Leadershiptraining seminarsand Evening Collegedasses.Thisactivitycontinuedonline. |
| 10. | Women'sMinistry. |
| 11. | Distributionofrelief topeopleinneedofemergencyassistancefor matterssuchasaccommodation,food vouchers,counselling, |
| travel,rental arrearsandhomerepairs.Thisactivityincreasedin2020astheCovid-19pandemicandcontrolmeasurescreated | |
| additionalneedsinthe community. | |
| 12. | Launchedaprogramme,LoveYourNeighbour,together with other churchesacrosstheUK,which provides emergency food |
| assistance,financial educationandcareerandjobassistancetothoseimpactedbythe pandemic. | |
| 13. | Support forprogrammes for the relief of povertyinUganda(Watoto),andinIndia(VisionRescue).In addition, partnership with |
| Compassion, sponsoring childreninUganda andothercountries,andpartnership with TheA21Campaign,acharity registeredin | |
| EnglandandWales. | |
| 14. | Support forlocalministry to thehomeless,indudingprovision andmaintenanceof'GreenLight'medicalvans to provideassistanceto |
| thehomelessinLondon.TheGreenLight activityincreasedin2020,includingmedicaltriage support ofhomelesspopulation, | |
| assistingwith provision of vehicles to othermedicaloperations,andprovision of foodandmeals. | |
| 1S. | Ministry to the Elderlyinthecommunityinduding regular volunteer teams assisting atlocalcentres wherepossible. |
| 16. | Support for theneedsofrefugeesintheUKandEurope,indudingcollection of clothingitemsandpartnering withvarious local |
| authorities toimprove facilities for refugeesandsupportresettlementprogrammes.Covid-19related activityindudedadditional | |
| assistancewithRefugeesandAsylumSeekershoused intemporarylocationsinLondon. | |
| 17. | ParticipationintheUKgovernment'sCommunity Sponsorship Scheme assisting refugee families settlingintheUK. |
| 18. | AYouthconference("Encounter")heldat our premisesinSouthBermondseyinFebruary2020. |
| 19. | AChristmas presentation streamedonline,replacing ourusualChristmasservices. |
| 20. | Aperforming arts academyheldonSaturdaysincludingdance,vocals actingandmusic classesforages4-21.Thiswasheldin a |
| combinationofinperson and onlineclasses. | |
| 21. | AHeart for theHouseannualoffering, part ofwhichwasusedto support charitable programsincludingsocialjusticecauses. |
| 22. | Support toother ChurchesandMinistriesintheUK,andEurope. |
| New | activitiesandinitiativescommencedinthe yearfocusedonthechangeinformat of operation,andthe emergingneedsinthe |
| community. TheseIncludedthefollowing: | |
| 1. Participationinthe nationalLoveYourNeighbour campaign.Including establishingvarloushubcentres to provide food supplies |
|
| andcareerandfinancialguidance.This programmehasbeenpartlyfunded bygovernmentfunding,andinduded various | |
| activities centred around Christmas,andtheprovisionof foodandgifts for thosein need. | |
| 2. Launchof online church services streamedonvarious platformsonaweeklybasis. |
|
| Prior | to controlmeasures,inexcess of2,000 volunteers continued tobeinvolvedinactivities conducted or supportedbyHillsongChurch |
| including: | |
| Running SundayservicesinCentralLondon, SouthBermondsey,Guildford,Tonbridge,Oxford,Newcastle,NorthLondon, | |
| Edinburgh,Liverpooland Milan,Italy. | |
| LeadingSmallGroupsinGreater London, Surrey,Kent,Oxford,Newcastle,Edinburgh,Liverpool, BirminghamandMilan,Italy. | |
| Runningwomen'sministriesinLondonGreaterLondon,Surrey,Kent,OxfordandNewcastle. | |
| LeadingyouthministriesinGreaterLondon,Surrey,Kent,OxfordandNewcastle. | |
| Helpingthe homelessinLondon bytravelling with theGreenLight vansevendaysper week. | |
| Throughtheyouthinitiative"ICareRevolution" wewereableto continue tovisit SecondarySchoolsintheLondonregion during | |
| the yearandpresent to manythousands ofschoolstudents. | |
| Participatinginactivitiessupporting refugees including decorating andfurnishingaccommodation,running communitybased | |
| workshopsandactivitiesanddistribution of welcomepacks. | |
| Within controlmeasures,volunteers were able to continue toparticipate,whileobservingrelevantsocialdistandngandisolation | |
| guidelines. Volunteerscontinuingtobeinvolvedinthe following areas: |
| PotentialRisk | Risk | mitigation controls |
|---|---|---|
| Loss of, or significantdisruption of key venue, leading to | • | Identificationofalternative venues for all key sites |
| increased costs,reduced congregation, strain on human | • | Maintenance of strong relationships with landlords |
| resources andreducedability tomeet Church objectives | • | The ability to stream online services |
| • | Developandestablishastrong groupsculture | |
| • | Actively seekoptions toacquire orlease permanent venues | |
| Alack of control orpoorly designedprocedures leads toa | • | Appropriate oversight and staff roles for safeguarding |
| safeguardingissue which hasasignificant impact on the | matters. | |
| individualsconcernedaswell ascreating legal, financial and reputationalrisk forChurch. |
· | DBSchecks forallstaff and volunteers who interact with children andvulnerable adults |
| • | Regular safeguardingtraining for all relevant individuals | |
| • | Provision of adequate staff and volunteers to meet required | |
| supervision ratiosinKids & Youth | ||
| • | Developmentand communication ofsateouardtnooolicies | |
| Astaffmember or volunteerismistreated and hasanegative | • | Provisionandmaintenance of appropriateroledescriptions |
| impact on theindividual,as wellasresultinginlegal,financial | • | Structuredprocess for performance evaluationand |
| andreputational risk | promotionin place | |
| · | Well-beingframeworkbeginningwithaprocessand policy for access tohealth intervention services |
|
| Alack ofphysicalsecurity leads to loss of assets or injury or death ofstaff,volunteers andcongregation |
· • |
Use ofvenue-provided security personnelandprocedures Liaison withPoliceinrelation to keysecurity concerns |
| and/or majorevents | ||
| • | Event planning policiesandprocedures coverphysical | |
| securityrequirements | ||
| • | Provision of staff or volunteers with appropriatetraining,as | |
| requtred | ||
| Damage to confidence of stakeholders caused byissuesoutside theUK,byUKstaff or byUKvolunteers orcongregation results |
· | Policyguidelines on employee conduct documented, communicated andfolowed both locally andinternationally |
| inloss of access to venues, financial stress and/or regulatory challenge |
· | Staffandteamleadersensureappropriate selection of volunteersandvolunteertrainingandsupervision onan |
| ongoingbasisviateamnights andotherevents | ||
| • | Policyinplaceandfollowed regardingstaffrecruitment | |
| processandoncoìnoperformanceevaluation |
| 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Unrestricted | Restricted | ||||
| funds | funds | Total | funds | funds | Total | ||
| Notes | £ | £ | £ | £ | £ | £ | |
| Incomingresources | |||||||
| Donations | 3 | 13,093,390 | 1,076,446 | 14,169,836 | 16,534,740 | 700,288 | 17,235,028 |
| Charitable activities |
4 | 355,406 | 355,406 | 3,393,728 | 3,393,728 | ||
| Investments | 3,835 | 3,835 | 5,113 | 5,113 | |||
| other income | 5 | 174,311 | 174,311 | 411,795 | 411,795 | ||
| Totalincoming resources | 13,626,942 | 1,076,446 | 14,703,388 | 20,345,376 | 700,288 | 21,045,664 | |
| Resources expended | |||||||
| Raisingfunds | 6 | 3,179,777 | 3,179,777 | 5,529,912 | 5,529,912 | ||
| Charitableactivities | 6 | 8,636,727 | 725,264 | 9,361,991 | 13,753,230 | 119,683 | 14,202,913 |
| Totalresources expended | 11,816,504 | 725,264 | 12,541,768 | 19,283,142 | 449,683 | 19,732,825 | |
| Netmovementin funds | 1,810,438 | 351,182 | 2,161,620 | 1,062,234 | 250,605 | 1,312,839 | |
| Reconciliationoffunds: | |||||||
| Totalfundsbrought forward | 16 | 6,221,702 | 2,190,166 | 8,411,868 | 5,159,468 | 1,939,561 | 7,099,029 |
| Transfer of funds | 16 | ||||||
| Totalfundscarriedforward | 8,032,140 | 2,541,348 | 10,573,488 | 6,221,702 | 2,190,166 | 8,411,868 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangibleassets | 10 | 8/614/232 | 8/765/491 | ||
| Currentassets | |||||
| Stocks | 90)14 | 76/379 | |||
| Debtors | 11 | 2/225/459 | 2/130/744 | ||
| Cash at bank andinhand | 12 | 5/658/696 | 4/150/353 | ||
| TotalCurrentassets | 7/974/269 | 6/357/476 | |||
| Liabilities | |||||
| Creditors: amounts falling duewithin | |||||
| one year | 13 | (4J05/782) | (2/197/650) | ||
| Netcurrentassets | 3)68/487 | 4/159/826 | |||
| Total assets lesscurrent liabilities | 11/882/719 | 12/925/317 | |||
| Creditors: Amounts falling due after | |||||
| more than one year | 15 | (1)09/231) | (4/513/449) | ||
| Total Net assets | 10/573/488 | 8/411/868 | |||
| The fundsofthe charity | |||||
| Restricted income funds | 17 | 2/541/348 | 2/190/166 | ||
| Unrestricted income funds | 8m2/140 | 6/221/702 | |||
| Totalcharity funds | 10/573/488 | 8/411/868 |
| 2020 | 2019 | ||
|---|---|---|---|
| Note | £ | £ | |
| Cashgenerated fromoperatingactivities | 19 | 2,804,459 | 1,649,504 |
| Cashflows frominvestingactivities | |||
| Interest income | 3,835 | 5,113 | |
| Interestexpenditure | (85,039) | (134,100) | |
| Purchaseoftangiblefixedassets | (946,482) | (936,693) | |
| Proceedsondisposaloftangibleassets | 34,853 | 1,718,210 | |
| Cash(generated)/usedininvestingactivities | (992,833) | 652,530 | |
| Cashflows from financingactivities | |||
| Repayment ofborrowings | (237,090) | (346,472) | |
| Paymentofobligationsunder financeleases | (66,193) | (157,403) | |
| **Cashusedin financing activities ** | (303,283) | (503,875) | |
| Increaseincashand cashequivalents in theyear | 1,508,343 | 1,798,159 | |
| Cash and cashequivalents at thebeginningofthe year | 4,150,353 | 2,352,194 | |
| Cashandcashequivalents at the end of the year | 12 | 5,658,696 | 4,150,353 |
2020 |
2019 |
|||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
| £ | £ | £ | £ | £ | £ | |
| Tithes&Offerings | 10,995,377 | 1,076,446 | 12,071,823 | 13,843,610 | 700,288 | 14,543,898 |
| GiftAidClaimed | 2,098,013 | 2,098,013 | 2,691,130 | 2,691,130 | ||
| 13,093,390 | 1,076,446 | 14,169,836 | 16,534,740 | 700,288 | 17,235,028 |
2020 |
2019 |
||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
| £ | £ | £ | £ | £ | £ | ||
| Conferences and | |||||||
| events | 141,504 | 141,504 | 2,930,979 | 2,930,979 | |||
| Resourcesales | 16,265 | 16,265 | 186,496 | 186,496 | |||
| Musicroyalties | |||||||
| receivable | 6,044 | 6,044 | 11,911 | 11,911 | |||
| Otherincome | 191,593 | 191,593 | 264,342 | 264,342 | |||
| 355,406 | 355,406 | 3,393,728 | 3,393,728 | ||||
| ther income | |||||||
2020 |
2019 |
||||||
£ |
£ |
||||||
| Profitondisposal of tangible | fixedassets | 411,795 | |||||
| CoronavirusJob RetentionScheme | 149,311 | ||||||
| Retail,Leisure and | HospitalityGrant | Scheme | 25,000 | ||||
| 174,311 | 411,795 |
| Totalresources expended | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Basisof allocation |
Costofraising funds |
Conference and events |
Resource sales |
Teaching and ministry |
Missions | Governance costs |
Total2020 | Total2019 | |
| £ | £ | £ | £ | £ | £ | £ | £ | ||
| Costsdirectlyallocatedto activities | |||||||||
| Staffcosts | Direct | 342,258 | 3,205,498 | 3,547,766 | 3,884,096 | ||||
| Venue costs | Direct | 1,534,714 | 1,744 | 5,902 | 1,542,360 | 4,467,802 | |||
| Productioncosts,equipment hire | |||||||||
| and transport costs | Direct | 829,053 | 79,514 | 3,313 | 911,880 | 2,358,999 | |||
| Ministry and mission expenses | Direct | 142,150 | 116,361 | 1,903,815 | 572,010 | 2,734,336 | 5,044,425 | ||
| Costofsales | Direct | 174,020 | 174,020 | 239,326 | |||||
| Supportcosts allocatedto | |||||||||
| activities | |||||||||
| Staff costs | Staff time | 60,233 | 213,438 | 10,039 | 632,495 | 26,741 | 8,249 | 951,195 | 743,873 |
| Premises | Staff time | 33,773 | 119,678 | 5,629 | 354,648 | 14,994 | 4,625 | 533,347 | 599,134 |
| General management and office | |||||||||
| administration costs | Staff time | 27,160 | 96,243 | 4,527 | 285,203 | 12,058 | 3,720 | 428,911 | 791,714 |
| Communications and IT costs | Staff time | 31,592 | 113,874 | 5,356 | 337,449 | 14,267 | 4,401 | 506,939 | 520,384 |
| Legal and professional | Direct | 42,171 | 42,171 | 58,438 | |||||
| Accounting fees | Direct | 54,089 | 54,089 | 42,164 | |||||
| Audit fees | Direct | 33,300 | 33,300 | 31,350 | |||||
| Depreciation | Stafftime | 403,886 | 135,492 | 6,373 | 401,512 | 16,975 | 964,238 | 951,120 | |
| Loss on disposal of fixed assets | _Staff_time | 117,216 | 117,216 | ||||||
| Totalresources expended | 3,179,777 | l,218,E12 | 205,944 | 7,129,835 | 657,045 | 150,555 | 12,541,768 | 19,732,825 |
| Thisisstated aftercharging: | ||
|---|---|---|
2020 |
2019 |
|
| £ | e | |
| Auditors'remuneration-audit | 33,300 | 31,350 |
| Auditors'remuneration-otherservices | 54,089 | 29,636 |
| Depreciation | ||
| Owned | 923,773 | 888,283 |
| Leased | 40,465 | 62,837 |
| Operating lease rentals | 671,391 | 644,677 |
| Loss/(profit)on disposal offixed assets | 117,216 | (411,795) |
| Analysisof staffcosts and costsofkey management personnel | ||
2020 |
2019 |
|
| £ | £ | |
| Wages and salaries | 3,809,814 | 3,842,900 |
| Social security costs | 372,803 | 383,047 |
| Pension costs | 135,852 | 134,971 |
| 4,318,469 | 4,360,918 |
2020 |
2019 |
|---|---|
No |
No |
| 113 | 116 |
| Freehold | Leasehold | Production | Vehicles | Office | Total | |
|---|---|---|---|---|---|---|
| land and | Improvement | equipment | equipment | |||
| buildings | ||||||
| £ | £ | £ | £ | £ | £ | |
| Cost | ||||||
| At1January 2020 | 6,377,762 | 1,341,467 | 5,456,220 | 396,516 | 1,599,211 | 15,171,176 |
| Additions | 94,410 | 238,345 | 487,802 | 48,406 | 96,085 | 965,048 |
| Disposals | (555,366) | (116,846) | (26,077) | (87,486) | (785,775) | |
| At31 December 2020 | 6,472,172 | 1,024,446 | 5,827,176 | 418,845 | 1,607,810 | 15,350,449 |
| Depreciation | ||||||
| At1January 2020 | 602,005 | 782,921 | 3,578,623 | 313,281 | 1,128,855 | 6,405,685 |
| Chargeforthe year | 156,091 | 109,2Q<; | 4fi.'i,fi::¡::¡ | fiO,/03 | 173,016 | 964,238 |
| On disposals | (425,056) | (110,912) | (15,105) | (82,633) | (633,706) | |
| At31 December 2020 | 758,096 | 467,160 | 3,933,344 | 358,379 | 1,219,238 | 6,736,217 |
| Net book value | 5,714,076 | 557,286 | 1,893,832 | 60,466 | 388,572 | 8,614,232 |
| 31 December 2020 | ||||||
| Net book value | ||||||
| 31 December 2019 | 6,976,110 | 558,546 | 1,877,597 | 83,235 | 470,356 | 8,765,491 |
| Debtors | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Trade Debtors | 29,160 | 37,278 |
| GiftAidrecoverable | 59,266 | 283,011 |
| Other debtors | 656,220 | 420,410 |
| Prepayments and accruedincome | 1,480,813 | 1,390,045 |
| 2,225,459 | 2,130,744 |
| Cashatbank and in hand | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Cash at bank | 5,652,201 | 4,137,899 |
| Cashinhand | 6,495 | 12,454 |
| 5,658,696 | 4,150,353 | |
| Creditors:amounts fallingduewithinone year | ||
| 2020 | 2019 | |
| £ | £ | |
| Bank loan | 2,620,651 | 310,841 |
| Obligationsunderfinanceleases | 49,760 | 74,797 |
| Tradecreditors | 859,382 | 1,234,969 |
| Taxation and socialsecurity | 110,538 | 105,641 |
| Othercreditors | 112,249 | 155,011 |
| Accruals anddeferredincome | 953,202 | 316,391 |
| 4,705,782 | 2,197,650 |
| Deferred income | ||
|---|---|---|
2020 |
2019 |
|
| £ | £ | |
| At1January | 1,290,297 | 1,378,317 |
| Less amount released to income resources | (1,290,297) | (1,378,317) |
| Plus amount deferred in the year | 759,248 | 1,290,297 |
| At 31 December | 759,248 | 1)90,297 |
2020 |
2019 |
|
|---|---|---|
| £ | £ | |
| Bank loan | 662,800 | 3,209,700 |
| Obligations under finance leases | 18,502 | 41,092 |
| Accruals and deferred income | 627,929 | 1,262,657 |
| 1,309,231 | 4,S13,44Q | |
| Analysisofbank loan andfinance leases: | 2020 |
2019 |
| £ | £ | |
| Debt can be analysed as falling due | ||
| In one year or less, or on demand | 2,670,411 | 385,638 |
| Between one and two years | 125,049 | 2,602,314 |
| Between two and five years | 305,387 | 300,116 |
| In five years or more | 250,868 | 348,362 |
| 3,351,715 | 3,636,430 |
| Unrestricted | Restricted | 2020 |
Unrestricted | Restricted | 2019 |
|
|---|---|---|---|---|---|---|
| Funds | Funds | Total | Funds | Funds | Total | |
| E. | E. | E. | E. | E. | E. | |
| Tangiblefixedassets | 8,180,851 | 433,381 | 8,614,232 | 8,268,938 | 496,553 | 8,765,491 |
| Currentassets | 5,866,302 | 2,107,967 | 7,974,269 | 4,663,863 | 1,693,613 | 6,357,476 |
| Currentliabilities | (4,705,782) | (4,705,782) | (2,197,650) | (2,197,650) | ||
| Non-currentliabilities | (1,309,231) | (1,309,231) | (4,513,449) | (4,513,449) | ||
| Fund Total | 8,032,140 | 2,541,348 | 10,573,488 | 6,221,702 | 2,190,166 | 8,411,868 |
| Reconciliation offunds | ||||||
| Total funds brought | ||||||
| forwardat1January | 6,221,702 | 2,190,166 | 8,411,868 | 5,159,468 | 1,939,561 | 7,099,029 |
| Movementinfunds | 1,810,438 | 351,182 | 2,161,620 | 1,062,234 | 250,605 | 1,312,839 |
| Totalfundscarried | ||||||
| forward at 31December | 8,032,140 | 2,541,348 | 10,573,488 | 6,221,702 | 2,190,166 | 8,411,868 |
| Balance | ||||
|---|---|---|---|---|
| Brought | BalilJnce | |||
| forward | Incoming | Outgoing | carried | |
2020 |
resources | resources | forward2020 |
|
| E. | E. | E. | E. | |
| SpringtheTrap | 49,106 | 179,962 | (169,010) | 60,058 |
| Because We Can | 35,563 | 210,159 | (182,275) | 63,447 |
| Building Fund | 2,105,497 | 239,275 | (167,917) | 2,176,855 |
| YouthServices | 2,788 | (2,788) | ||
| LoveYourNeighbour | 447,050 | (206,062) | 240,988 | |
| Total | 2,190,166 | 1,079,234 | (728,052) | 2,541,348 |
| Balance | ||||
|---|---|---|---|---|
| Brought | Balance | |||
| forward | Incoming | Outgoing | carried | |
2019 |
resources | resources | forward2019 |
|
| E. | E. | E. | E. | |
| Spring theTrap | 67,101 | 86,061 | (104,056) | 49,106 |
| BecauseWe Can | 64,234 | 256,762 | (285,433) | 35,563 |
| Building Fund | 1,808,226 | 355,466 | (58,195) | 2,105,497 |
| YouthServices | 1,999 | (1,999) | ||
| Total | 1,939,561 | 700,288 | (449,683) | 2,190,166 |
| 2020 | 2019 | |
|---|---|---|
| e | £: | |
| Operating leases which expire: | ||
| Within one year | 573,987 | 631,037 |
| Between one and five years | 1,873,191 | 1,477,370 |
| In over five years | 1,369,583 | 684,583 |
| 3,816,761 | 2,792,990 |
| 2020 | 2019 | |
|---|---|---|
| e | £: | |
| Net movements in funds | 2,161,620 | 1,312,839 |
| Deduct interest income shown in investing activities | (3,835) | (S,lB) |
| Add back interest expenditure shownininvestingactivities | 85,039 | 134,100 |
| Add back depreciation charges | 964,238 | 951,120 |
| Profit/(loss) on disposal of tangible asset | 117,216 | (411,795) |
| (Increase)/decrease in stocks | (13,735) | 30,228 |
| Increaseindebtors | (94,715) | (141,772) |
| Decreaseincreditors | (411,369) | (220,103) |
| Net cashprovidedbyoperating activities | 2,804,459 | 1,649,504 |
| New | ||||
|---|---|---|---|---|
| At start of | Cash | finance | At endof | |
| year | flows | leases | year | |
| £ | £ | £ | £ | |
| Cashat bank andinhand | 4,150,353 | 1,508,343 | 5,658,696 | |
| Borrowingsexcludingoverdrafts | (3,520,541) | 237,090 | (3,283,451) | |
| Obligations underfinanceleases | (115,889) | 66,193 | (18,566) | (68,262) |
| 513,923 | 1,811,626 | (18,566) | 2,306,983 |
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Scott Wilson: | |||
| - Consultancy fees | 20,500 | ||
| - SalesTeaching Resources | 440 | ||
| RayNewton:Salary -LegalCounsel | 25,000 | 25,000 | |
| DavidWhitewood: | Salary | 50,600 | 60,000 |
| Rebecca VanDijk: | Consultancy fees | 200 | |
| Total | 75,600 | 106,140 |