##
|||Page||
|---|---|---|---|
|Reference and Administrative
Details||||
|Report ofthe Trustees|2|to|7|
|Report ofthe Independent
Auditors|8|to|11|
|Statement ofFinancial Activities||12||
|Balance Sheet||13||
|Cash Flow Statement||14||
|Notes tothe Cash Flow Statement||15||
|Notes tothe Financial Statements|16 to||26|
|Detailed Statement of Financial Activities|27|to|28|
##
##
|TRUSTEES|Rev A L Hewitt Minister|Rev A L Hewitt Minister|Rev A L Hewitt Minister|
|---|---|---|---|
||Rev D H Curgenven||Minister|
||Rev SR Curgenven||Minister|
||Mr LAllen Teacher|||
||M RAllport Dispatch||Manager|
||D M Allport Sales Consultant|||
|COMPANY SECRETARY|Mrs A Morgan|||
|REGISTERED OFRCE|Dolfor Road|||
||Newtown|||
||Powys|||
||SY161JD|||
|REGISTERED COMPANY|06287732 (England and Wales)|||
|NUMBER||||
|REGISTERED CHARITY|1120696|||
|NUNIBER||||
|AUDITORS|Morgan GrNiths|LLP||
||Chartered
Accountants|||
||Statutory
Auditor|||
||Cross Chambers|||
||9High Street|||
||Newtown|||
||Powys|||
||SY162NY|||
|BANKERS|Barclays Bank pic|||
||3Cross Buildings|||
||Newtown|||
||POWYS|||
||SY162AJ|||
##
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|||||||31.3.21|31.3.20|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes||F|F|F|
|INCONIE AND ENDOWMENTS||FROM||||||
|Donations and legacies|||2|472,164|60,425|532,589|942,082|
|Charitable activities||||||||
|Nursery|||||||357,270|
|Ministry||||10,147||10,147|26,954|
|Other trading
activities||||1,435||1,435|3,736|
|Investment
income||||17,694||17,694|112|
|Total||||501,440|60,425|561,865|1,330,154|
|EXPENDITURE ON||||||||
|Raising funds||||909||909|2,889|
|Charitable
activities||||||||
|Nursery|||||||323,148|
|Ministry||||456,254|60,425|516,679|412,079|
|Total||||457,163|60,425|517,588|738,116|
|NET INCOME||||44,277||44,277|592,038|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought|forward|||4,935,574|15,574|4,951,148|4,359,110|
|TOTAL FUNDS CARRIED FORWARD||||4,979,851|15,574|4,995,425|4,951,148|
##
##
|||31.3.21|31.3.20|
|---|---|---|---|
||Notes|||
|FIXEDASSETS||||
|Tangible assets|14|6,206,324|6,173,316|
|Investments|15|1|1|
|||6,206,325|6,173,317|
|CURRENT ASSETS||||
|Debtors|16|100,305|6,093|
|Cash at bank||214,071|341,068|
|||314,376|347,161|
|CREDITORS||||
|Amounts
falling due within one year|17|(76,992)|(68,086)|
|NET CURRENT ASSETS||237,384|279,075|
|TOTAL ASSETSLESSCURRENT||||
|LIABILITIES||6,443,709|6,452,392|
|CREDITORS||||
|Amounts
faIling due after more than one year|18|(1,448,284)|(1,501,244)|
|NETASSETS||4,995,425|4,951,148|
|FUNDS||||
|Unrestricted
funds||4,979,851|4,935,574|
|Restricted funds||15,574|15,574|
|TOTAL FUNDS||4,995,425|4,951,148|
##
##
||||||31.3.21|31.3.20|
|---|---|---|---|---|---|---|
|||||Notes|||
|Cash flows from|operating||activities||||
|Cash generated
from operations|||||279,456|586,386|
|interest paid|||||(44,751)|(56,444)|
|Net cash provided|by operating
activities||||234,705|529,942|
|Cash flows from|investing||activities||||
|Purchase oftangible fixed assets|||||(216,562)|(1,008,633)|
|Purchase offixed|asset investments|||||(1)|
|Interest received|||||194|112|
|Net cash used
in|investing|activities|||(216,368)|(1,008,522)|
|Cash flows from|financing||activities||||
|Loan repayments|in year||||(50,305)|(99,588)|
|Loan to subsidiary|||||(95,029)||
|Net cash used
in|financing|activities|||(145,334)|(99,588)|
|Change
in cash|and cash||equivalents||||
|in the reporting|period||||(126,997)|(578,168)|
|Cash and cash equivalents|||at the||||
|beginning
ofthe|reporting||period||341,068|919,236|
|Cash and cash equivalents|||at the end||||
|ofthe reporting|period||||214,071|341,068|
##
||RECONCILIATION|RECONCILIATION|OF|NET INCOME TO NET CASH FLOW|NET INCOME TO NET CASH FLOW|NET INCOME TO NET CASH FLOW|FROM OPERATING ACTIVITIES|FROM OPERATING ACTIVITIES|FROM OPERATING ACTIVITIES|
|---|---|---|---|---|---|---|---|---|---|
|||||||||31.3.21|31.3.20|
||||||||||E|
||Net income forthe||reporting|||period (as per the Statement|of|||
||Financial Activities)|||||||44,277|592,038|
||Adjustments|for:||||||||
||Depreciation|charges||||||183,554|63,688|
||Interest received|||||||(194)|(112)|
||Interest paid|||||||44,751|56,444|
||Decrease in debtors|||||||817|5,375|
||Increase/(decrease)||in creditors|||||6,251|(131,047)|
||Net cash provided||by|operations||||279,456|586,386|
|2.|ANALYSIS OF CHANGES||||IN|NET DEBT||||
||||||||At 1.4.20|Cash Row|At 31.3.21|
||||||||||F|
||Net cash|||||||||
||Cash at bank||||||341,068|(126,997)|214,071|
||||||||341,068|(126,997)|214,071|
||Debt|||||||||
||Debts falling|due within||1 year|||(46,547)|(2,655)|(49,202)|
||Debts falling|due after 1 year||||(1,501,244)||52,960|(1,448,284)|
|||||||(1,547,791 )||50,305|(1,497,486)|
||Total|||||(1,206,723)||(76,692)|(1,283,415)|
##
##
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##
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##
##
##
##
##
##
|DONATIONS
AND|LEG|ACIES|||
|---|---|---|---|---|
||||31.3.21|31,3.20|
|Tithes offerings and|gifts||386,856|324,430|
|Mission income|||3,955|2,682|
|Gift aid|||64,260|85,849|
|Building
fund|||17,093|529,121|
|Grants|||60,425||
||||532,589|942,082|
|Grants received, included||in the above, are as follows:|||
||||31.3.21|31.3.20|
||||F||
|HMRC Coronavirus|Job|Retention Scheme|60,425||
|OTHER TRADING|ACTIVITIES||||
||||31.3.21|31.3.20|
|||||E|
|Coffee shop income
Room hire|||1,435|3,736|
||||1,435|3,736|
|INVESTMENT INCOME|||||
||||31.3.21|31,3.20|
||||E||
|Rents received|||17,500||
|Deposit account interest|||194|112|
||||17,694|112|
##
##
||INCOME FRO|M CHARIT|A|BLE ACTIVITIES||||
|---|---|---|---|---|---|---|---|
|||||||31.3.21|31.3.20|
|||||Activity||||
||Nursery income|||Nursery|||356,961|
||Other income|||Nursery|||309|
||Departmental|income||Ministry||1,314|12,317|
||Life Group income|||Ministry|||4,214|
||Other income|||Ministry||8,983|4,696|
||AOG - salary contribution|||||||
||and chaplaincy|service||||||
||receipts|||Ministry||(150)|5,727|
|||||||10,147|384,224|
|6.|RAISING FUNDS|||||||
||Other trading|activities||||||
|||||||31.3.21|31.3.20|
|||||||E|F|
||Purchases||||||1,956|
||Investment
management||costs|||||
|||||||31.3.21|31.3.20|
||Property repairs|||||S09|933|
||Aggregate
amounts|||||909|2,889|
|7.|CHARITABLE|ACTIVITIES||COSTS||||
||||||Direct|Support||
||||||Costs (see|costs (see||
||||||note 8)|note 9)|Totals|
|||||||E||
||Ministry||||509,897|6,782|516,679|
##
##
##
|DIRECT COSTS OF CHARITABLE ACTIVITIES|DIRECT COSTS OF CHARITABLE ACTIVITIES|DIRECT COSTS OF CHARITABLE ACTIVITIES|||
|---|---|---|---|---|
||||31.3.21|31.3.20|
|Trustees'
remuneration|etc||117,317|97,035|
|Staff costs|||92,456|351,101|
|Other operating
leases||||17,512|
|Repairs &cleaning
&water|||15,855|11,335|
|Insurance|||7,990|8,830|
|Light and heat|||11,609|13,546|
|Telephone|||5,531|3,879|
|Postage and stationery|||2,565|2,966|
|Advertising|||95|1,191|
|Sundries|||128|651|
|Gifts, flowers and hospitality|||5,911|6,051|
|Books and literature|||1,585|430|
|Travel|||170|5,972|
|Missions|||3,600|4,413|
|Ministry Gifts and outreach|||12,184|20,930|
|Department
accounts|||4,474|16,905|
|Nursery costs||||36,416|
|Life group accounts
Training and conferences|||122|1,782
2,099|
|Depreciation|||183,554|63,688|
|Interest payable and similar charges|||44,751|56,444|
||||509,897|723,176|
|SUPPORT COSTS|||||
|||||Governance|
|||||costs
f|
|Ministry||||6,782|
|NET INCOME/(EXPENDITURE)|||||
|Net income/(expenditure)||is stated after charging/(crediting):|||
||||31,3.21|31.3.20|
|||||E|
|Auditors'
remuneration|||3,000|3,000|
|Auditors'
remuneration|for|non audit work|455|1,068|
|Depreciation - owned assets|||183,554|63,690|
|Other operating leases||||17,512|
##
|TRUSTEES' REMUNERATION|AND BENEFITS|||
|---|---|---|---|
|||31,3.21|31.3.20|
|||F|F|
|Trustees' salaries||85,397|85,092|
|Trustees' social security||8,148|8,171|
|Trustees' pension contributions|to money purchase schemes|23,772|3.772|
|||117,317|97,035|
##
##
##
|STAFF COSTS|||||
|---|---|---|---|---|
||||31.3.21|31.3.20|
|||||F|
|Wages and salaries|||169,056|410,915|
|Social security costs|||9,989|22,826|
|Other pension costs|||30,728|14,395|
||||209,773|448,136|
|The average
monthly|number ofemployees|during the year was as follows:|||
||||31.3.21|31.3.20|
|Trustees|||3|3|
|Ministry|||5|7|
|Nursery||||17|
|||||27|
##
|13.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES|||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|
|||||funds|funds|funds|
|||||F|||
||INCOME AND ENDOWMENTS||FRONI||||
||Donations
and legacies|||592,082|350,000|942,082|
||Charitable
activities||||||
||Nursery|||357,270||357,270|
||Ministry|||24,767|2,187|26,954|
||Other trading activities|||3,736||3,736|
||Investment
income|||112||112|
||Total|||977,967|352,187|1,330,154|
||EXPENDITURE ON||||||
||Raising funds|||2,889||2,889|
||Charitable activities||||||
||Nursery|||323,148||323,148|
||Ministry|||412,079||412,079|
||Total|||738,116||738,116|
||NET INCOME|||239,851|352,187|592,038|
||Transfers
between|funds||350,000|(350,000)||
||Net movement
in funds|||589,851|2,187|592,038|
||RECONCIUATION|OF FUNDS|||||
||Total funds brought forward|||4,345,723|13,387|4,359,110|
||TOTAL FUNDS CARRIED FORWARD|||4,935,574|15,574|4,951,148|
##
|TANGIBLE FIXEDASSETS|||||
|---|---|---|---|---|
|||improvements|Fixtures||
||Freehold|to|and||
||property|property|fiNngs|Totals|
|||||F|
|COST|||||
|At 1 April 2020|6,074,532|4,184|483,836|6,562,552|
|Additions|170,869||45,693|216,562|
|Disposals||(4,184)||(4,184)|
|At 31 March 2021|6,245,401||529,529|6,774,930|
|DEPRECIATION|||||
|At 1 April 2020|160,738|4,184|224,314|389,236|
|Charge for year|137,781||45,773|183,554|
|Eliminated
on disposal||(4,184)|-|(4,184)|
|At 31 March 2021|298,519||270,087|568,606|
|NET BOOK VALUE|||||
|At 31 March 2021|5,946,882||259,442|6,206,324|
|At 31 March 2020|5,913,794||259,522|6,173,316|
##
|16.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR|||
|---|---|---|---|---|---|
|||||31,3.21|31.3.20|
||||||F|
||Amounts
owed by group undertakings|||95,029||
||Prepayments
and accrued|income||5,276|6,093|
|||||100,305|6,093|
|17.|CREDITORS: AMOUNTS|FALLING DUE WITHIN ONE YEAR||||
|||||31.3.21|31.3.20|
||Bank loans and overdrafts|(see note 19)||49,202|46,547|
||Trade creditors|||244|3,455|
||Social security and other taxes|||3,492||
||Other creditors||||1|
||Accrued expenses|||24,054|18,083|
|||||76,992|68,086|
|18.|CREDITORS: AMOUNTS|FALLING DUE AFTER MORE THAN ONE||YEAR||
|||||31,3.21|31.3.20|
||||||F|
||Bank loans (see note 19)|||1,448,284|1,501,244|
|19.|LOANS|||||
||An analysis ofthe maturity|of|loans is given below:|||
|||||31.3.21|31.3.20|
|||||F||
||Amounts
falling due within|one year on demand:||||
||Bank loans|||49,202|46,547|
||Amounts
falling between one
Bank loans -1-2 years||and two years:|48,917|49,202|
||Amounts
falling due between||two and five years:|||
||Bank loans - 2-5years|||160,657|155,139|
||Amounts
falling due in more than five years:|||||
||Repayable
by instaiments:
Bank loans more 5yr by instal|||1,238,710|1,296,903|
||The loan is repayable over|25years and the rate ofinterest is2.75% above base rate.||||
##
##
|31.3.21|31.3.20|
|---|---|
|F|F|
|1,497,486|1,547,791|
##
##
|ANALY|SIS OF NETASSETS|BElWEEN FUNDS||||
|---|---|---|---|---|---|
|||||31.3.21|31.3.20|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
|||F|F||F|
|Fixed assets||6,206,324||6,206,324|6,173,316|
|Investments||1||1|1|
|Current|assets|298,802|15,574|314,376|347,161|
|Current|liabilities|(76,992)||(76,992)|(68,086)|
|Long term liabilities||(1,448,284)||(1,448,284)|(1,501,244)|
|||4,979,851|15,574|4,995,425|4,951,148|
##
##
|MOVEM|ENT|IN FUNDS||||
|---|---|---|---|---|---|
|||||Net||
|||||movement|At|
||||At 1,4.20
F|in funds
F|31.3.21
f|
|Unrestricted||funds||||
|General|fund||4,932,971|44,277|4,977,248|
|Designated||Fund - CAP|2,603||2,603|
||||4,935,574|44,277|4,979,851|
|Restricted funds||||||
|Church|Planting||13,387||13,387|
|Activate|||2,187||2,187|
||||15,574||15,574|
|TOTAL|FUNDS||4,951,148|44,277|4,995,425|
##
||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
|||||F|E|
|Unrestricted|funds|||||
|General fund|||501,440|(457,163)|44,277|
|Restricted funds||||||
|HMRC Coronavirus||Job Retention||||
|Scheme|||60,425|(60,425)||
|TOTAL FUNDS|||561,865|(517,588)|44,277|
##
|Compar|ativ|es
for movement
in f|unds||||
|---|---|---|---|---|---|---|
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.4.19|in funds|funds
f|31.3.20|
|Unrestricted||funds|||||
|General|fund||4,343,120|239,851|350,000|4,932,971|
|Designated||Fund - CAP|2,603|||2,603|
||||4,345,723|239,851|350,000|4,935,574|
|Restricted||funds|||||
|Church|Planting||13,387|||13,387|
|Stewardship
Activate||||350,000
2,187|(350,000)|2,187|
||||13,387|352,187|(350,000)|15,574|
|TOTAL|FUNDS||4,359,110|592,038||4,951,148|
|Comparative|net movement
in funds, inc|luded
in the above are as follows:|||
|---|---|---|---|---|
|||Incoming|Resources|Movement|
|||resources|expended|in funds|
|||F|F|F|
|Unrestricted|funds||||
|General fund||977,967|(738,116)|239,851|
|Restricted funds|||||
|Stewardship
Activate||350,000
2,187||350,000
2,187|
|||352,187||352,187|
|TOTAL FUNDS||1,330,154|(738,116)|592,038|
##
##
##
##
##
##
|||31.3.21|31,3.20|
|---|---|---|---|
|INCOME AND ENDOWMENTS||||
|Donations
and legacies||||
|Tithes offerings and gifts||386,856|324,430|
|Mission income||3,955|2,682|
|Gift aid||64,260|85,849|
|Building fund||17,093|529,121|
|Grants||60,425||
|||532,589|942,082|
|Other trading activities||||
|Coffee shop income|||3,736|
|Room hire||1,435||
|||1,435|3,736|
|Investment
income||||
|Rents received||17,500||
|Deposit account interest||194|112|
|||17,694|112|
|Charitable
activities||||
|Departmental
income||1,314|12,317|
|Nursery
income|||356,961|
|Life Group income|||4,214|
|Other income||8,983|5,005|
|AOG - salary contribution|and chaplaincy|||
|service receipts||(150)|5,727|
|||10,147|384,224|
|Total incoming resources||561,865|1,330,154|
|EXPENDITURE||||
|Other trading activities||||
|Purchases|||1,956|
|Investment
management|costs|||
|Property repairs|||933|
|Charitable activities||||
|Trustees' salaries||85,397|85,092|
|Trustees' social security||8,148|8,171|
|Trustees'
pension
contributions||23,772|3,772|
|Ministry
&Nursery wages||83,659|325,823|
|Carried forward||200,976|422,858|
##
##
||||31.3.21|31.3.20|
|---|---|---|---|---|
|Charitable
activities|||||
|Brought forward|||200,976|422,858|
|Social security|||1,841|14,655|
|Pensions|||6,956|10,623|
|Other operating leases||||17,512|
|Repairs 8 cleaning|&water||15,855|11,335|
|Insurance|||7,990|8,830|
|Light and heat|||11,609|13,546|
|Telephone|||5,531|3,879|
|Postage and stationery|||2,565|2,966|
|Advertising|||95|1,191|
|Sundries|||128|651|
|Gifts, flowers and hospitality|||5,911|6,051|
|Books and literature|||1,585|430|
|Travel|||170|5,972|
|Missions|||3,600|4,413|
|Ministry Gifts and outreach|||12,184|20,930|
|Department
accounts|||4,474|16,905|
|Nursery costs||||36,416|
|Life group accounts||||1,782|
|Training and conferences|||122|2,099|
|Freehold property|||137,781|17,903|
|Fixtures and fittings|||45,773|45',785|
|Bank loan interest|||43,459|54,984|
|Bank and credit card charges|||1,292|1,460|
||||509,897|723,176|
|Support costs|||||
|Governance costs|||||
|Auditors'
remuneration|||3,000|3,000|
|Auditors'
remuneration||for non audit work|455|1,068|
|Legal fees|||3.327|7,983|
||||6,782|12,051|
|Total resources expended|||517,588|738,116|
|Net income|||44,277|592,038|