|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|