| Page | |||
|---|---|---|---|
| Trustees' report |
t -7 | ||
| Independent examiner's |
report | ||
| Statement offinancial | activities | 9-10 | |
| Balance sheet | |||
| Notes to the financial | statements | 12-33 |
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| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | 6 | f | |||||
| Fixed assets | |||||||
| Tangible assets | 1,555,348 | 1,443,733 | |||||
| Current assets | |||||||
| Debtors | 12 | 7,683 | 10,203 | ||||
| Cash at bank and | in | hand | 230,418 | 434,018 | |||
| 238,101 | 444,221 | ||||||
| Creditors: amounts | falling due within | ||||||
| one year | 13 | (7,948) | (7,888) | ||||
| Net current assets | 230,153 | 436,333 | |||||
| Total assets less | current liabilities | 1,785,501 | 1,880,066 | ||||
| Income funds | |||||||
| Restricted funds | 14 | 18,219 | 22,839 | ||||
| Unrestricted funds |
- | general | 15 | 68,161 | 67,546 | ||
| Unrestricted funds |
- | designated | 16 | 1,699,121 | 1,789,681 | ||
| 1,785,501 | 1,880,066 |
| 2021 | 2020f | ||
|---|---|---|---|
| Charitable | rental income | 21,800 | 24,550 |
| Other income | 807 | 578 | |
| 22,607 | 25,128 | ||
| Analysis by fund |
|||
| Unrestricted | funds - general | 1,227 | 4,018 |
| Unrestricted | funds - designated | 20,700 | 20,965 |
| Restricted | funds | 680 | 145 |
| 22,607 | 25,128 |
| Unrestricted | Restricted | Total | Unrestricted | Restricted | ||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| general | general | |||||||
| 2021 8 |
2021f | 2020 f |
2020 f |
2020 6 |
||||
| Fundraising | events | 275 | 275 | |||||
| Trading | activity income: | |||||||
| other | 1,100 | 125 | 1,225 | 950 | 950 | |||
| Other trading | activities | 1,100 | 125 | 1,225 | 950 | 275 | 1,225 |
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| 6 | Grants payable | ||||
|---|---|---|---|---|---|
| Mission Costs | Mission Costs | ||||
| 2021 | 2020 | ||||
| 6 | 6 | ||||
| Grants to Institutions | |||||
| BMS | 1,600 | 2,800 | |||
| BRAZIL | 300 | ||||
| J PANDIAN - LCM | 1,750 | ||||
| COMPASSION SUNDAY CLUB |
451 | 352 | |||
| CROSSROADS | 650 | 1,700 | |||
| DOS SANTOS/SGM | LIFEWORDS | 1,500 | 2,700 | ||
| ECM DELAMEILLEURE | 2,700 | 2,050 | |||
| EMBRACE | 350 | 900 | |||
| FAITH IN KIDS |
1,000 | ||||
| FIRMFOUNDATION | 1,450 | 1,000 | |||
| GLOBAL CARE | 2,450 | ||||
| GROWING YOUNG DISCIPLES | 1,000 | ||||
| HAWKE INTERSERVE | 14,988 | 12,562 | |||
| HOME MISSION | 7,800 | 7,800 | |||
| INTERSERVE | 150 | ||||
| KISIIZI HOSPITAL | 900 | ||||
| LBA | 650 | ||||
| LCM | 75 | ||||
| LILY | 2,500 | 1,900 | |||
| LISKEARD PCC - CAP | 1,000 | ||||
| LST | 2,000 | ||||
| MCNUI TYWEC | 10,191 | 12,663 | |||
| MOYSEY | 1,625 | 1,500 | |||
| OAK HILL | 2,000 | ||||
| POTTER'S VILLAGE | 3,753 | ||||
| PROCLAMATION | ZAMBIA | 3,500 | |||
| REGENERATION | SCHOOLS WORK | 500 | |||
| SCRIPTURE UNION | 250 | ||||
| SOUTH ASIAN CONCERN | 1,000 | ||||
| SWANSON AIM |
1,500 | 1,900 | |||
| TEARFUND | 1,700 | ||||
| URBAN SAINTS | 1,000 | 500 | |||
| VIDEO BIBLETALKS | 500 | ||||
| WORDS OF LIFE MINISTRY | 300 | ||||
| 67,833 | 57,377 | ||||
| Grants to individuals | 4,590 | 10,210 | |||
| Total grants | 72,423 | 67,587 |
| Staff Cost | s | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Z | ||||||
| Gross wages 8 saladies | 92,562 | 94,105 | ||||
| Social security costs | 3,322 | 3,540 | ||||
| Employer's | pension | contributions | 6,726 | 6,429 | ||
| Employer's | deficit contdibution | to defined | benefit pension scheme | 4,903 | 3,613 | |
| 107,513 | 107,687 |
| Tangible fixe | d assets | |||||
|---|---|---|---|---|---|---|
| Freehold | Fixtures and | Computers | Total | |||
| buildings | fittings | |||||
| Cost | ||||||
| At 1 January | 2021 | 2,282,648 | 120,019 | 21,918 | 2,424,585 | |
| Additions | 160,787 | 5,496 | 1,138 | 167,421 | ||
| Disposals | (15,636) | (2,474) | (1,405) | (19,515) | ||
| At 31 December 2021 | 2,427,799 | 123,041 | 21,651 | 2,572,491 | ||
| Depreciation | and impairment | |||||
| At 1 January | 2021 | 845,173 | 117,720 | 17,959 | 980,852 | |
| Depreciation | charged | in the year | 52,887 | 1,316 | 1,603 | 55,806 |
| Eliminated in |
respect ofdisposals | (15,636) | (2,474) | (1,405) | (19,515) | |
| At 31 December 2021 | 882,424 | 116,562 | 18,157 | 1,017,143 | ||
| Carrying amount |
||||||
| At 31 December 2021 | 1,545,375 | 6,479 | 3,494 | 1,555,348 | ||
| At 31 December 2020 | 1,437,475 | 2,299 | 3,959 | 1,443,733 |
| As at 31 De | cember 20 | 21 the cost and net | book value w |
|---|---|---|---|
| Cost | NBV | ||
| f | 6 | ||
| Church Premises: | 1,782,369 | 1,001,389 | |
| 1 Vicarage | Way: | 247,227 | 203,914 |
| 137Imperial | Drive: | 398203 | 340 071 |
| Total | 2427 799 | 1 545 375 |
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C LL Gl mC dl CI dl E (h Vl CO0 ID Gl (0 0' E 0 0 Vl GI dl th (0 0 O 0 Gl— (0 Gl CI0 ID '0 C 0 ED Eh o 0C 0 Gl CL (0 dl C C &0 &h E0 |
'0 LL dlE CL O UI0 E0 ID0C(0 (C m m CI C&( 0 EhC0 t3 dl N ul IDX IL |
LL00 IO LL (0 0 '0 U ILI u(I CIZZ IDI E0 Cl Cl Cl CO 0 m th &0 Gl &h Gl dl |
ID 0 '0 LL 0 CL O. (0 C0 N Ih m E0 CI Cl CD 4( Ch &0 Ih m ulC IO dl dl dl ID |
th13 C u C dl 8 VI VI IO m0 u0 Ih Vl m |
VI dl CI '0 Ol0 I VI OI LD |
Ih '0 0 u |
Ol CD |
W | 0 &0 CEI Cl CU m E dl0 4l CI (0 Vl0 0 C Gl m C |
0 0 C N m dl |
th dl th N (0 43 '(ll C mI- |
Vl ID (0 th dl Vl Vl Gl C CJ |
| Actuarial valuation as at 31 December 2019 |
|||||
|---|---|---|---|---|---|
| A formal valuation of the DB Plan as at 31 December 2019 |
by a professionally | qualified | Actuary | ||
| using the Projected Unit Method. At the valuation date the market value of the DB |
Plan | assets was | |||
| f298 million, whilst the level ofassets needed to pay benefits |
was f316m, giving | a deficit | of f18m | ||
| (equivalent to a past service funding level of94%).The Church |
and the other participating | employers | |||
| in the DB Plan are collectively responsible for funding this deficit. |
|||||
| Type ofassumption | %pa | ||||
| RPI price inflation assumption |
3.20 | ||||
| CPI price inflation assumption |
2.70 | ||||
| Minimum Pensionable Income Increase Adjustment (above CPI) |
0.50 | ||||
| Pre-retirement assumed investment returns (gilt yield plus 1.75% pa) |
2.95 | ||||
| Post retirement assumed investments returns (including benefits |
1.70 | ||||
| matched by the insurance policy) (gilt yield plus 0.5% pa) |
|||||
| Minimum Pensionable Income increases (CPI plus 0.5%) |
3.20 | ||||
| Deferred pension increases based on RPI |
|||||
| Pre April 2009 | 3.50 | ||||
| Post April 2009 | 2.50 | ||||
| Pension increases | |||||
| Based on RPI with an annual floor of0%and annual cap of5% |
2.70 |