2021-08-31-accounts

Reports	Reports	Reports
Reference and administrative			information	1
Trustees' report
Independent auditor's	report		on the
financial statements
Financial statements
Consolidated statement		offinancial
activities				13
Consolidated balance	sheet			14
Trust balance sheet				15
Consolidated statement		ofcash flows		16
Principal accounting	policies			17
Notes to the consolidated		financial
statements				22

	Trustees	Rev Nigel Cowgill	(Chair)	(Chair)
		Mr Nevil Tomlinson		(Treasurer)
		Mrs Ama Ackah-Yensu
		Mr Kojo Amoah-Arko
		Mr Joseph Anoom
		Ms Ruby Beech
		Mr Michael Device
		Mr Alan Eccles
		Mr Wesley Gibbs
		Mr Martin Lougher
		Rev Anthony Miles
		Ms Genevieve Patnelli
		Rev Lansford Penn-Timity
		DrJoanna Williamson
Executive	Directors	Sarah Ainsworth
		Sarah Franczak
		Paul Southern
		Tim Swindell
	Auditor	Buzzacott LLP
		130Wood Street
		London
		ECEV6DL
	Bankers	HSBC Bank PLC
		The Peak
		333Vauxhall Bridge		Road
		London
		SW1V 1EJ
	Solicitors	Pothecary Witham	Weld
		70StGeorge's Square
		London
		SW1V3RD

fsignature ofthis	repor	t are	as follows:
Trustee
Rev Michsela Youngson		(Chair)	(to 31August 2021)	Mr Alan Eccles
Rev Nigel Ccwgill (Chair)		(from	1 September 2021)	Mr Wesley Gibbs (from	1	September 2021)
Mr David Morgan (Secretary) (to 31August 2021)				Rev Lansford Penn-Timity		(from 1
				September 2021 )
Mr Nevil Tomlinson	(Treasurer)			Mr Martin Lougher
Mrs Ams Ackah-Yensu				Rev Anthony Miles
Mr Kojo Amosh-Arko				Ms Genevieve Patnelli
Mr Joseph Anoom				Mrs Grace Sangrnauh	(to	31 August 2021)
Ms Ruby Beech				Rev Jason Vinyard (to	31	August 2021)
Mr Michael Dsvies				Dr Joanna Williamson

					Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
					funds	funds	funds	funds	funds	funds
					2021	2021	2021	2020	2020	2020
				Note	E	E	E	E	E	E
Income from:
Lettings and	hiring				437,844		437,844	4,336,530		4,336,530
Catering					201		201	1,599,096		1,599,096
Investment	income from bank
deposits							1	1,641		1,641
Other income
.Insurance	claims							108,173		106,173
.Other					4a4,348		494,348	300,724	—	300,724
Total Income					932,394		932,394	6,346,364	—	6,346,364
Expenditure
Expenditure	on	raising funds:
.Letting snd	hiring			3	2,269,908		2,2sa,aos	fi,oro,o95	—5,oro,o95
.Catering				3	240,928		240,928	1,311,437	—	1,311,437
Expenditure	on	charitable	activities	3	516,545	6,575	523,120	669,758	6,575	676,333
Interest payable					51,808		51,808	16,244		16,244
Total expenditure					3,079,189	6,575	3,085,764	7,067,534	6,575	7,074,109
Net expenditure				2	(2,146,795)	(6,575)	(2,153,370)	(721,170)	(6,575)	(727,745)
Taxation				9	42,208		42,208	(42,208)		(42,208)
					(2,104,557)	(6,575)	(2,111,162)	(763,378)	(6,575)	(769,953)
Funds brought		forward	at 1
September	2020				8,660,172	190,683	8,850,855	9,423,550	197,256	9,620,808
Fund carried forward at 31
August 2021					6,555,585	184,108	6,739,693	8,660,172	190,683	6,850,855

				2021	2021	2020	2020
			Notes	8	8	F	6
Fixed assets
Tangible fixed assets					10,431,533		10,667,448
Equity share in menses					220,325		220,325
					10,651,858		10,887,773
Current assets
Debtors			10	1,410,865		1,214,949
Cash on deposit at the Central
Finance Board				5,076		4,436
Cash at bank and in hand				51,293		32,454
				1,467,234		1,251,839
Liabfiities
Creditors: amounts	falling due
within one year			11	(2,949,814)		(2,673,435)
Net current liabilities					(1,482,580)		(1,421,596)
Total assets less	current
liabilities					9,169,278		9,466,177
Creditors: amounts	falling due in
after one year			12		(2,429,585)		(615,322)
Total net assets					6,739,693		8,850,855
Represented by:
Incoine funds —Unrestricted		funds	16		6,555,585		8,660,172
Capital funds —Endowment		funds	16		184,108		190,683
Total funds					6.739,693		8,850,855

						2021	2021	2020	2020
					Notes	6	8	6	5
Fixed assets
Tangible fixed assets							10,167,645		10,337,608
Equity share in manses							220,325		220,325
Investment in trading			subsidiary				500,000		500,000
							10,887,970		11,057,933
Current assets
Debtors					10	293,968		208,149
Cash on deposit at		the Central
Finance Board						4,831		4,192
Cash at bank and	in hand					50,343		31,504
						349,142		243,845
Liabilities
Creditors: amounts		falling due
within one year					11	~iMI,159		(1,862,192)
Net current liabilities							(197,017)		(1,618,347)
Total assets less	current
liabilities							10,690,953		9,439,586
Creditors: amounts		falling due after
more than one year					12		(1,929,585)		(615,322)
Total net assets							8,761,368		8,824,264
Represented by:
Income funds —Unrestricted				funds	16		8,577,260		8,633,581
Capital funds —Endowment				funds	16		184,108		190,683
Total funds							8,761,368		6,824,264

						Notes	2021f	2020f
	Cash flows from operating		activities:
	Net cash used in operating	activities				A	(1,686,467)	(629,553)
	Cash flows from Investing		activities:
	Investment income and interest received						1	1,841
	Purchase oftangible fixed assets						(108,319)	(460,309)
	Net cash used In investing		activities				(108.318)	(458,468)
	Cash flows from financing		activities:
	Repayments of amounts borrowed						(185,736)	(68,258)
	Cash inflowe from new borrowing						2,000,000
	Net cash from financing activities						1,814,264	(68,258)
	Change in cash and cash		equivalents		in the year		19,479	(1,156,279)
	Cash and cash equivalents		at 1September 2020			B	36,890	1,193,159
	Cash and cash equivalents		at 31 August 2021			B	56,369	36,890
A	Reconciliation ofnet movement			in	funds to net cash used in		operating activities
							2021f	2020
	Net movement in funds (as per the statement of financial activities)						(2,111,162)	(769,953)
	Adjustments for:
	Depreciation charge						344,234	352,717
	Investment income and interest receivable						(1)	(1,841)
	(Increase) decrease in debtors						(195,917)	369,267
	Increase (decrease) in creditors						276,379	(579,743)
	Net cash used in operating		activities				(1,686,467)	(629,553)
B	Analysis ofcash and cash equivalents
							2021	2020
							E	E
	Cash at bank and in hand						51,293	32,454
	Short term deposits						5.076	4,436
	Total cash and cash equivalents						56,369	36,890
C	Analysis ofchanges in		net debt
						At 1		At 31
						September	Cash	August
						2020	flows	2021
						f	E	E
	Cash at bank					36,890	19,479	56,369
	Overdraft					(637,368)	(73,710)	(711,078)
	RBSloan					(767,322)	73,914	(693.408)
	HSBC loans						J32000000	~ODOD00
	Total net debt					JII387800	~1980317	J00380887

Its trading results, extracted from its audited acco	unts were as follows:
	2021	2020
	6	5
Turnover	438,045	5,935,626
Cost ofsales	(1,749,121)	(4,805,501)
Gross (loss) profit	(1,311,076)	1,130,125
Administrative expenses	(1,273,413)	(1,790,258)
Operating (loss)	(2,584.489)	(660,133)
Interest receivable	1	1,818
Interest payable	(29,398)	(1,202)
Other ihcoine	523,418	442,811
Loss before Gift Aid and Taxation	(2,090,466)	(216,706)
Gilt Aid donations to parent		(600,000)
Taxation	42,208	(42,208)
Retained loss for the year	(2,048,260)	(858,914)

				2021	2020
				6	6
Operating lease rentals				15,421	15,241
Depreciation —owned assets				344,234	352,717
Auditor's remuneration
. current year (group)				17,600	17,168
.prior year under provision					1,200
other services				8,484	11,946
Total expenditure
				2021	2020
Expenditure on raising funds				6
Letting and hiring costs
Hiring expenses and commissions				154,923	1,600,200
Wages, salaries and other staff costs				1,242,278	1,417,981
Advertising and publicity				9,057	111,690
Maintenance, insurance,		heating	and lighting	593,425	1,351,908
Office and administration		costs		39,139	79,380
Legal and professional				52,021	80,686
Depreciation				65,952	77,624
Bad debts				(20,397)	77,842
Other costs				133,510	272,784
				2,269,908	5,070,095
				2021	2020
Expenditure on raising funds
Catering costs
Subcontracted catering	costs			240,928	1,311,437
				2021	2020
Charitable activities				5
Grants to the church				130,164	260,328
Depreciation ofthe building				278,282	275,093
Wages, salaries and other staff costs				45,054	49,733
Legal and professional	fees (note		4)	52,020	80,686
Auditor's remuneration	—current year (note 4)			17,600	10,493
				523,120	676,333

			Costs of
			raising	Charitable	Total
			funds	activities	2021
2021			E	E	E
Auditor's	remuneration	—current year		17,600	17,600
Legal and	professional	fees	52,021	52,020	104,041
			52,021	69,620	121,641
			Costs of
			raising	Charitable	Total
			funds	activities	2020
2020			E	E
Auditor's	remuneration	—current year		10,493	10,493
Legal and	professional	fees	80,686	80,686	161,372
			80,686	91,179	171,865

The averag	e number ofe	mployees during the yea	r was:
			2021	2020
			No	No.
Hirings and	leitings		25	28
Support services			1	3
			26	31
Cost forthese employees		was:
			2021	2020
			E	E
Wages and	salaries		1,087,990	1,150,897
Social security costs			107,186	121,666
Pension costs			92,156	158,402
Temporary	staff			36,749
			1,287,332	1,467,714

2021	2020
No.	No.

Tangible fixed assets
	Freehold		Computer
	buildings and	Fixtures and	and oflice
	improvements	fitsngs	equipment	Tour l
Group		6	6	6
Cost
At 1 September 2020	13,973,345	924,862	23,837	14,922,644
Additions	108,319			168,319
At 31August 2021	14,081,664	924,862	23,837	15,638,363
Depreciation
At 1 September 2020	3,635,737	611,500	7,359	4,254,596
Charge for the year	278,282	60,189	5,763	344,234
At31August 2021	3,914,019	671,689	13,122	4,598,836
Net book value
At31 August2021	10,167,645	253,173	10,715	16,431,533
At31 August 2020	10,337,608	313,362	16,478	16,667,448

	Freehold
	buildings and
	improvements	Total
Trust
Cost
At 1 September 2020	13,973,345	13,973,345
Additions	108,319	108,319
At 31August 2021	14,081,654	14,081,664
Depreciation
At 1 September 2020	3,635,737	3,635.737
Charge for the year	278,282	278,282
At 31August 2021	3,914,019	3,914,019
Net book value
At 31 August 2021	10,167,645	10,167,645
At 31 August 2020	10,337,608	10,337,608

7	Equity share in	Equity share in	menses
						Leasehold
	Group and Trust					propertiesf
	Cost
	At 1 September 2020 and 31August 2021					220,325
8	Investment	in trading subsidiary
					2021	2020
	Trust				8
	Share capital				500,000	500,000
	The summarised		balance sheet ofthe subsidiary	company	is as follows:
					2021	2020
					8	F.
	Fixed assets				263,888	329,840
	Current assets				1,361,994	2,633,088
	Liabilities				(3,147,554)	(2,436,340)
	Net funds				(1,521,672)	526,588

Debtors
		2021	2020
Group		8	F
Trade debtors		811,494	772,552
Other debtors		423,349	206,776
Prspayments	and accrued income	129,814	235,621
Taxation debtor		46,208
		1,410,865	1,214,949
Trust		2021 f	2020
Other debtors		271,841	190,816
Prepayments		22,127	17,333
		293,968	208,149

Creditors: amounts	falling due within one year
Group					2021f	2020f
Bank overdraft					711,078	637,380
Royal Bank of Scotland	loan	(note	12)		182,400	152,000
HSBC loan (note 12)					81,423
Trade creditors					127,578	124,359
Deferred income (see below)					1,507,861	1,296,531
Other taxes and social security					42,501	79,527
Other creditors and accruals					167,999	229,954
VAT payable					128,974	153,684
					2,949,814	2,673,435
Trust					2021f	2020
Royal Bank ofScotland	loan	(note	12)		182,400	152,000
HSBC loan (note 12)					81,423
Trade creditors					110,070	92,903
Amounts awed to subsidiary		undertaking		(note 1)	53,972	1,346,816
Income in advance from subsidiary			undertaking		92,687	185,375
Other creditors and accruals					9,021	27,866
VAT payable					16,586	57,232
					546,159	1,862,192

				Brought		Invoiced	Released	Carried
	2021			forward f	in the year		in the year f	forwardf
	Letting deposits	in advance		1,296,531		731,003	(519,673)	1,507,861
				Brought		Invoiced	Released	Canied
	2020			forwani f	in the year f		in the year f	forwardf
	Letting deposits	in advance		2,108,569		5,163,447	(5,975,485)	1,296,531
12	Creditors: amounts		falling due	after more than one		year
	Group						2021f	2020f
	Royal Bank of Scotland		loan				511,008	615,322
	HSBC loan						1,918,577
							2,429,585	615,322

Credit	ors:	amounts	falling due after more th	an one year (continued)
				2021	2020
Tiust				6
Royal	Bank	ofScotland	loan	511,008	615,322
HSBC	loan			1,416,577
				1,929,565	615,322

Analysis ofnet assets between fun	ds
	Unrestricted	Endowment	Total
	funds	funds	2021
Group -2921	5	5	5
Tangible fixed assets	10,247,425	184,108	10,431,533
Equity share in menses	220,325		220,325
Net current liabilities	(1,482,580)		(1,482,580)
Long term liabilities	(2,429,585)		(2,429,585)
	6,555,585	184,108	6,739,693
	Unrestricted	Endowment	Total
	funds	funds	2020
Group- 2020	2		5
Tangible fixed assets	10,476,765	190,663	10,667,448
Equity share in manses	220,325		220,325
Net current liabilities	(1,421,596)		(1,421,596)
Long term liabilities	(615,322)	—	(615,322)
	6,660,172	190,683	8,850,855

				Unrestricted	Endowment	Total
				funds	funds	2021
Trust -2021				5	5	5
Tangible fixed assets				9,983,537	184,108	10,167,645
Equity share		in mahses		220,325		220,325
Investment	in	trading	subsidiary	500,000		500,000
Net current	liabilities			(197,017)		(197,017)
Long term	liabilities			(1,929,585)		(1,929,585)
				8,577,260	184.108	8,761,368

Analysis o	f	net as	sets between funds	(continued)
				Unrestricted	Endowment	Total
				funds	funds	2020
Trust —2020				E	E	E
Tangible fixed assets				10,146,925	190,683	10,337,608
Equity share		in manses		220,325		220,325
Investment	in	trading	subsidiary	500,000		500,000
Net current	liabilities			(1,618,347)		(1,618,347)
Long term liabilities				(615,322)		~615,322
				8,633,581	190,683	8,824,264