OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

REGISTERED COMPANY NUMBER: 07109404 (England and Wales) REGISTERED CHARITY NUMBER: 1134458

Report of the Trustees and

Audited Consolidated Financial Statements for the year ended 31[st] March 2021

for

Ivy Manchester Limited

(a company limited by guarantee and not having a share capital)

Allen Mills Howard Limited Chartered Accountants

& Statutory Auditors Lewis House 56 Manchester Road Altrincham Cheshire WA14 4PJ

Ivy Manchester Limited

Contents of the Financial Statements For the year ended 31[st] March 2021

Page
Report of the Trustees 1 - 9
Report of the Independent Auditors 10 – 12
Consolidated Statement of Financial Activities 13
Consolidated and Parent Company Balance Sheet 14
Consolidated Statement of Cash Flows 15
Notes to the Financial Statements 16 - 29

Ivy Manchester Limited

Report of the Trustees For the year ended 31[st] March 2021

The trustees, who are also directors of the charity for the purpose of the Companies Act 2006, present their report with the consolidated financial statements of the charity and its subsidiary for the year ended 31st March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2015).

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company Number: 07109404 (England and Wales)
Registered Charity Number: 1134458
Registered office: 97 Barlow Moor Road
Didsbury
Manchester
M20 2GP
Trustees: Dr R M Varnam_(resigned 28th February 2021)_
Reverend A Delaney
Dr A Firth_(resigned 28th February 2021)_
Mrs S Small
Mr A Lee
Mr R Jackson
Mrs J Edwards
Mrs G Tuson_(resigned 4th July 2021)_
Mrs J Gbeleyi_(appointed 9th February 2021)_
Mr A J Skae_(appointed 21st April 2021)_
Company Secretary: Dr A Firth_(resigned 28th February 2021)_
Mr A J Skae_(appointed 21st April 2021)_
Auditors: Allen Mills Howard Limited
Chartered Accountants and Statutory Auditors
Lewis House
56 Manchester Road
Altrincham
WA14 4PJ
Bankers: NatWest Bank PLC
699 Wilmslow Road
Didsbury
Manchester
M20 6NW
Scottish Widows Bank
PO Box 12757
67 Morrison Street
Edinburgh
EH3 8IJ
Aldermore
1stFloor, Block B, Western House
Lynch Wood
Peterborough
PE2 6FZ

1

Ivy Manchester Limited (Registered number: 07109104)

Report of the Trustees For the year ended 31[st] March 2021

(a company limited by guarantee)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment, induction and training of new trustees

Any prospective new trustees are recommended by the current board to the Church congregation for their consideration. Church members are then able to vote on the appointment of the prospective trustee. A majority vote confirms the appointment. New trustees are kept updated through regular trustees’ meetings and communication throughout the year.

Organisational structure

The members delegate the management of the Church to the Elders. This leadership group consists of the Pastor, as presiding Elder, and other Elders. Elders are nominated by other Elders and appointed by a majority vote of members. Staff recruitment is overseen by the Elders, and this team (staff) are responsible for the day-to-day operations of the church.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Fund-raising

The group does not carry out significant fundraising activites.

OBJECTIVES AND ACTIVITIES

Aims and purposes

The overall aim of Ivy Church is to advance the Christian faith for the benefit of the church and the public in Manchester, the United Kingdom and the rest of the world.

Objectives and activities

The vision of the Church is “Knowing, Growing, Going”;

Public benefit

The trustees confirm that they have, when and where necessary to do so, paid regard to the Charity Commissioner’s Guidance on Public Benefit when considering and making its decisions. Activities undertaken to further the charity’s purposes for the public benefit are show in the Review of Achievements and Performance section of this report.

2

Report of the Trustees for the Year Ended 31[st] March 2021

Ivy Manchester Limited

REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR

Achievements and performance – the year in numbers:

Key milestones:

It has been a turbulent year to navigate as a leadership, with no route map or familiar signs to help us. And yet we have been so aware that we have a compass and an anchor which has held firm despite the storms (Hebrews 6:19). We have been so grateful for the love and support of a wider body of ‘elders’ this year to help us to discern God’s voice, to process the ever changing landscape and to plot a way forward. Some decisions have felt obvious, essential and clear, others have been much harder to come to. We have also been so grateful for Anthony Delaney and his calm and clear leadership, his ability to seek out wisdom wherever it may be found, and to ask the tough questions to make sure we aren’t missing out on anything God is saying, or would have us do.

We have seen new innovations, experiments and opportunities open up exciting new mission areas. Since the start of 2020 when we met in sites, we have commissioned hundreds of new churches that meet in your homes, as well as all together online. We have seen an increasing sense of the role of all of us in building the church, outside of the building, on the streets where we live and the space that we inhabit. This will take courage and conviction, but 2020 has focussed our attention on a world in dire need of the hope that we have, and the necessity of all of us to roll up our sleeves and follow Jesus wherever and to whomever he leads us.

Grow Groups

In a time where people have felt more isolated and less connected than ever, we have found grow groups to be a lifeline. We want to thank our incredible leaders and the five new leaders who stepped up this year; the way you have loved people through the difficult times, have brought joy and community and have helped many to go deeper with Jesus is remarkable. We have seen groups grow and invite new people as well as multiply, which is so exciting. For the year ahead we want to help more people to access groups, to see more multiplication, and to have a clear vision and structures for supporting our leaders.

Faith Lifts

Spring 2020 saw the birth of Ivy Church Faith Lifts, a daily thought for the day, streamed live into the homes of many, every weekday morning on Ivy’s Facebook page. Faith Lifts have stood the test of time, with more than 300 to date, having reached and engaged thousands. Faith Lifts provided that ever important sense of community, routine and structure to what was such an isolating and uncertain year.

3

Ivy Manchester Limited

Report of the Trustees for the Year Ended 31[st] March 2021

Ivy Kids

In 2020 we said goodbye and thank you to Loraine Clarke in March and welcomed Katy Herrera back from her maternity leave in May. As we moved online, IK:TV was launched. We’re excited to have over 300 views for each episode and so far we’ve had over 50 families plus some of Ivy Youth take part. They’re a fantastic bunch of presenters, storytellers and dancers and they’re always up for a challenge, however crazy! Im:Press, the weekly devotional for families was relaunched to send resources to support family devotions and we’ve hosted regular zoom call get togethers for primary school aged kids, which have been valuable for those that attend. 15 new babies have arrived this year and we prayed with the mums in person and over zoom. We also started Ivy Buds, a new mums support group at Ladybridge Connect with 12 mums coming regularly and bringing friends. In October we offered Toddler Church and Family Church. Both events ran at maximum capacity with waiting lists and were enthusiastically received by the kids and their parents alike. We delivered Glow party packs to Ivy Kids with an invitation to an alternative online event in place of Halloween and a huge highlight of the year was Santa’s Grotto, when 160 families visited the Ivy grounds to meet Santa and his elves and we were able to spread Christmas joy in the community.

Ivy Youth

Luke Anthony made the transition from assistant youth leader to youth leader in this incredible ministry and oversaw the transition from in person activities to being fully online and then hybrid when restrictions allowed. While this threatened to hinder the momentum we’d gathered, the youth team were absolutely fantastic in enabling this to happen and provided the youth with a wealth of meeting points, in order to maintain and develop their already strong relationships. As restrictions eased, Ivy Youth launched their own monthly church service, Ivy Celebration, where the entire group comes together. Finally, last year proved to us the importance of an online presence and we updated the Ivy Youth website (ivyyouth.org) in order to help the young people with their faith, prayer requests and Bible studies.

Missions

“Gospel sharing, Ivy connected, loving the least, planned multiplication”

Never have we seen a bigger need for God’s people on God’s mission. So many Ivy people have responded to God’s calling by sharing what they have, as well as their hope in Jesus online, down their street and on the front lines. God’s mission hasn’t changed but his Church has, alongside the way we go about connecting, reaching and serving people. As a church we have ramped up in equipping the whole body for mission through micro church training, discipleship training, the TODAY event, LAUNCH and Alpha to name a few. Together we have found different ways to love and serve our local communities and city.

We continued to work closely with our 22 mission partners both in Manchester and around the world who continue to inspire and challenge us. We have been able to get together with them online; every second Tuesday of the month we have been dropping into one or two places via zoom to hear from and pray for our partners, as well as other Ivy members. All of our partners have had to adapt in some of the most demanding circumstances, some battling Covid themselves, others losing close family and friends and all in places where the pandemic is affecting communities and churches in different ways. Despite the challenges, it is clear that God is calling more and more people to himself and his mission than ever before and we are excited to see what God does in this next year.

Eden Merseybank

Eden Merseybank lockdown life has included managing a community helpline for those who were scared and alone; linking vulnerable people to the wider world with funded mobile phones; delivering and sharing food through a dedicated Facebook page and doorstep communion which became a thing, the strangest combo being ginger nuts and Tango!

4

Ivy Manchester Limited

Report of the Trustees for the Year Ended 31[st] March 2021

CAP

Despite the reduction in working hours for the team at points across the year due to restrictions, CAP has seen 6 Debt Free CAP Clients in 2020, accounting for 21 family members from 5 households. One client, who had been working with the Ivy CAP Debt Centre for 6 years said, “If you have any kind of financial difficulties, I wholeheartedly recommend speaking to CAP. They have helped me move from living out of my overdraft and credit cards to freedom from debt and actually saving money each month!"

We have developed one new partnership with the Message to provide CAP Courses: Job Club and Life Skills, via the Message Community Grocery and another with Silver Apples Bakery who deliver a birthday cake to each child of a family working with our CAP Centre on their special day!

Brockbank Foundation Limited

Ivy has continued to work closely with the Trustees of Brockbank Foundation Limited (BFL), who have faithfully served in the role of preserving the legacy of Oliver Brockbank and the assets that sat under the banner of BFL. During this financial year, as the Cheadle Hulme project continued, Ladybridge Connect Ltd was the beneficiary of financial support, resulting in August and September 2020 BFL making two final grants of £263,000 and £13,748. In addition to its cash assets, BFL Trustees transferred the title to the freehold land and buildings in Didsbury to Ivy Manchester Limited in October 2020. The buildings had been under a 10-year lease to Ivy, with the church having day-today responsibility for the management and maintenance of the buildings. The Ivy elders recognise that this is a significant milestone and are committed to maintaining the Didsbury buildings and carrying on the legacy of Oliver Brockbank. The Didsbury site was valued on 5th January 2022 at £2,435,000.

Ladybridge Connect

We are thankful that the Brockbank Foundation Trustees believed that Ladybridge Connect was an exciting and innovative way to advance Christ’s Kingdom and that their financial support enabled the completion of the refurbishment of the main building in December. We felt a fitting way of celebrating this, and remembering the legacy of Oliver Brockbank, was to name the building the Brockbank Centre, a decision well received by many. We’re also very appreciative of further financial support from Stockport Council, helping us complete the access road.

As we have emerged gradually out of lockdown and opened up, we have continued to develop our partnership with the sports clubs (cricket, lacrosse and bowls) and offer community sessions where possible and, given the amount of outdoor space we have at the site, it has been great to host outdoor Ivy events, as well as build up a core group of hirers such as adult exercise classes. We have launched our website, LadybridgeConnect.org to reach out and engage people and promote the work of partners there, and we’re excited by the unique nature of the offer and being able to open the Ivy café later in 2021.

Discipleship Pathway

Ivy Church’s Discipleship Pathway is all about how we can help everyone to be a part of helping people find their way back to God. In the midst of the pandemic, as we were thinking about new ways that we can see God’s power released through God’s people we launched our first Discipleship Pathway course.

Together the group learned simple tools to begin to discover people far from God and help them to become devoted followers of Jesus. Over the six sessions we saw people putting what they were learning into practice and encouraging each other along the way - from sharing their testimony or the gospel with friends, family and colleagues, to reading the Bible and praying with others for the first time! One person has started a regular discipleship group with two friends who are open to faith and interested in finding out more. We are very excited for this group and to see how God could use them in the future!

5

Ivy Manchester Limited

Report of the Trustees for the Year Ended 31[st] March 2021

Micro Church Training

During 2020 we felt God calling us into new opportunities to reach our local community, family, friends and relational networks through planting micro churches. With Ivy’s connection to NewThing we have known many other churches take this approach and seen micro churches grow and multiply in ways beyond what they could have imagined helping thousands of people find their way back to God.

December 2020 saw the launch of Ivy’s first micro training course led by Bjorn Lutke and Thomas Lahme from Dynamic Church Planting International (DCPI).

We have had a cohort of over 50 in number who each week have engaged with the course and begun to develop their own vision, plan and timeline for where they feel God is calling them to plant his church. There will be more training to come so watch this space!

WTC

Despite the restrictions of Covid-19, WTC has thrived throughout this year and continues to do so. We quickly adapted delivery to the online forum and worked hard to develop and improve systems to give students the best possible learning experience under the circumstances. All Hub nights and Residentials were delivered in an online capacity and our 28 students including MA students within our Manchester Hub continued to thrive. We have developed a series of online events to support recruitment over the next few months and already have applications coming in for next academic year.

NewThing

We solidified our partnership with NewThing in 2020 as Emma Jeffery took on the role of NewThing Regional Director for Western Europe. In March we shifted to supporting churches online through several multiplication cohorts and training events which have proven invaluable to locked-down European church leaders who are navigating their churches through these unforeseen and unpredictable days. Throughout the year, our NewThing region has helped catalyse and support church planting networks in Manchester, London, Marseille and Ambilly (France) and Berlin. It was through these that we were connected to Bjorn Lutke (Marseille) who now teaches the micro-church training that Ivy launched in November. Into 2021 NewThing is looking to grow the regional team and train up more Catalyst Community facilitators online so we can be ready to multiply quickly once restrictions are lifted.

TODAY Event

In mid-April, Anthony had vision for an event so, on hearing God had given a 'three week season for a great harvest', we set to work! Together with friends locally and internationally we forged the idea of the 24 hour TODAY online evangelism event 15 May, sharing testimonies, gospel presentations and calling for response. Why? Because TODAY is the day of salvation!

Estimates show that around 4,500 people liked, commented and shared the stream on Facebook over the day as well as having just under 5,000 unique viewers on YouTube. Additionally, TODAY also encouraged several Ivy members and others to take to social media themselves to share their own testimonies and the reason for their faith in Jesus with their friends, some for the first time. We don't know the exact impact from TODAY but we're confident that God celebrates obedience and that there were many in the harvest that day!

LAUNCH

This year LAUNCH went online with the theme REFRAME. With 600 delegates - church leaders and teams from across the globe - we looked at how we REFRAME how we see God, People and the Church. We had a combination of great speakers and interactive Q&A seminars. The LAUNCH team that helped create this two day online experience was phenomenal and the response we had from delegates was brilliant; many commented how LAUNCH kept them engaged and others noted that it was the best online event they've attended!

We had 591 unique viewers on day 1 with an average watch time of 3h15m out of 5h30m of content and only a slight drop off on day 2 with 395 unique viewers and an average watch time of 3h00m of 3h30m of content! LAUNCH Online was a real success, and we have even more exciting plans for how we can serve the wider church and support pioneering leaders and church planters through multiplication training and events in 2021!

6

Report of the Trustees for the Year Ended 31[st] March 2021

Ivy Manchester Limited

Comings and goings

As ever this year we have said hello and goodbye to different people on our leadership teams, both staff and elders. We were delighted to welcome Gemma Tuson onto our eldership in May 2020 and Joyce Gbeleyi in February 2021, as well as Louise Yuill as Leadership Development Facilitator onto our staff team in September 2020. We also said welcome back to Katy Herrera on her return from maternity leave!

Through the year we have said a big thank you and farewell to; Loraine Clarke who served in Ivy Kids, covering Katy’s maternity leave, Sam Duquemin who led our work with students and has now moved to Bristol with his wife, Ellie and Olli Davis who helped lead our Academy site and is now on a new God adventure with Jo in Spain.

We have also said goodbye to three dear, longstanding members of Ivy Church, Dave Clark, Gill Berrisford and Roger Allsup, who died this year and went to be with the Lord. Each made a different and significant contribution to our church family and they hold a special place in our hearts. We continue to send our love and prayers to their loved ones and to the many Ivy members who have lost family members and friends over this time.

Financial Review

During the 2020/21 financial year, total incoming resources for the group were £1,113,299 (2020: £1,225,038) of which £1,016,925 (2020: £1,098,929) were voluntary donations and their associated gift-aid. The income was used by the group to fulfil its objectives. This represented a decrease of 7% on the previous financial year.

On 9[th] October 2020, Brockank Foundation Ltd donated land and buildings with a value of £2,435,000 to Ivy Manchester Ltd. The value of these land and buildings are included on the Statement of Financial Activites as an extraordinary item and explained in more detail in note 9 to the financial statements.

Expenditure for the group was £1,032,940 (2020: £1,110,084) resulting in a net income for the year of £80,359 (2020: £114,954). After the extraordinary item, the group’s net movement in funds for the year was therefore a surplus £2,515,359 (2020: £114,954)

The trustees consider free reserves to represent net liquid or quasi-liquid funds that are available to the group in the short term to meet liabilities as they fall due. At the balance sheet date, the group’s reserves were £3,195,196 (2020: £679,837), of which free reserves were £477,818 (2020: £455,814).

Structure, Governance and Management

Ivy Manchester is based at 97 Barlow Moor Road, Didsbury, Manchester, M20 2GP.

Ivy Manchester is a company limited by guarantee, registered in England and Wales No. 7109404 and is a Registered Charity No. 1134458.

Reserves Policy & going concern

The purpose of the reserves policy is to smooth out any short term variations in funding and expenditure to ensure that the charity is able to fulfil its objectives without interruption. Under normal circumstances the trustees consider it appropriate to hold free reserves of between one and three months of typical “operating” expenditure.

For the financial year ending March 2022, the average monthly operating expenditure is budgeted to be £66,500 per month. This then requires the charity to maintain free reserves of between £66,500 and £199,500.

The trustees have reviewed the circumstances of the charity, particularly given the impact of the COVID-19 pandemic, and in light of the way the church has been able to respond operationally and how membership and giving remains strong, they are therefore of the opinion that the charity is a going concern.

7

Ivy Manchester Limited

Report of the Trustees for the Year Ended 31[st] March 2021

Directors

The Directors of Ivy Manchester Ltd during the financial year April 2020 to March 2021 were: Anthony Delaney (Senior Pastor) Adam Firth (Secretary) Sarah Small Robert Varnam Andy Lee Robert Jackson Jane Edwards Gemma Tuson Joyce Gbeleyi

The Directors of Ladybridge Connect Ltd during the financial year April 2020 to March 2021 were: Robert Jackson Keith Nelson Ann Ball Simon Clarke Anthony Eglin

Trustees’ indemnity arrangements

Individual indemnities have been provided to the Trustees, under which the charitable company has agreed to indemnify the Trustees to the fullest extent permitted by law in respect of all liabilities to third parties arising out of, or in connection with, their execution of their powers, duties and responsibilities as Trustees of the group.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also the directors of Ivy Manchester Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable companys auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charitable companys auditors are aware of that information.

8

Ivy Manchester Limited

Report of the Trustees for the Year Ended 31[st] March 2021

AUDITORS

The auditors, Allen Mills Howard Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD

………………………………………… A Skae – Secretary 27[th] January 2022

9

Report of the Independent Auditors to the Members of Ivy Manchester Limited

Opinion

We have audited the financial statements of Ivy Manchester Limited (the 'parent charitable company') and its subsidiaries (the ‘group’) for the year ended 31[st] March 2021 which comprise the consolidated Statement of Financial Activities, the consolidated Balance Sheet, the consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast doubt on the group’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable group and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

10

Report of the Independent Auditors to the Members of Ivy Manchester Limited

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees Responsibilities set out on page eight, the trustees (who are also the directors of the charitable group for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the applicable financial reporting framework and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable group's ability to continue as a going concern, as well as disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable group or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of designing our audit work, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates, that involved making assumptions and considering future events that are inherently uncertain.

We also considered potential financial and other pressures, opportunity and motivation for fraud. As part of this discussion we identified internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management.

We gained an understanding of the legal and regulatory framework applicable to the group and the environment in which it operates, drawing on our sector experience, and considered the risk of acts by the group that were contrary to these laws and regulations, including fraud.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Charities Act, Employment Laws, UK tax legislation and equivalent local laws and regulations.

We made enquires of management with regards to compliance with applicable laws and regulations and corroborated any necessary evidence to relevant information, for example, minutes of the trustees’ meetings.

We addressed the risk of management override of internal controls including testing journals and evaluating whether there was evidence of bias by management that represented a risk of material misstatement due to fraud.

11

Report of the Independent Auditors to the Members of Ivy Manchester Limited

Auditors’ responsibilities for the audit of the financial statements

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk od not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentation or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr David Allen FCCA (Senior Statutory Auditor) For and on behalf of Allen Mills Howard Limited Chartered Accountants & Statutory Auditors Lewis House, 56 Manchester Road, Altrincham, Cheshire, WA14 4PJ

28[th] January 2022

12

Ivy Manchester Limited (Registered number: 07109404)

Consolidated Statement of Financial Activities (Incorporating a consolidated Income and Expenditure Account) For the year ended 31[st] March 2021

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2021 2020
Notes £ £ £ £
Income from:
Donations 3 951,540 65,385 1,016,925 1,098,929
Charitable activities 5 30,851 42,838 73,689 109,288
Other trading activities 6 21,521 - 21,521 15,314
Investment income 1,164 - 1,164 1,507
______ ______ ______ ______
Total income 1,005,076 108,223 1,113,299 1,225,038
______ ______ ______ ______
Expenditure on:
Cost of raising funds
Cost of raising funds and other costs 4 56,084 - 56,084 22,574
Charitable activities:
Staff costs 7 429,460 32,176 461,636 475,124
Church operating expenses 8 361,266 153,954 515,220 612,386
______ ______ ______ ______
Total expenditure 846,810 186,130 1,032,940 1,110,084
______ ______ ______ ______
Net income/(expenditure) 158,266 (77,907) 80,359 114,954
Extraordinary item 9 2,435,000 - 2,435,000 -
Transfers between funds (38,648) 38,648 - -
______ ______ ______ ______
Net movement in funds 2,554,618 (39,259) 2,515,359 114,954
______ ______ ______ ______
RECONCILIATION OF FUNDS
Total funds brought forward 625,391 54,446 679,837 564,883
______ ______ ______ ______
Total funds carried forward 3,180,009
______		 15,187
______		 3,195,196
______		 679,837
______

All results relate to continuing operations and there are no gains or losses other than those shown above.

The notes form part of these financial statements.

13

Ivy Manchester Limited (Registered number: 07109404)

Consolidated Balance Sheet For the year ended 31[st] March 2021

2021 2021 2020 2020
Group Charity Group Charity
Notes £ £ £ £
FIXED ASSETS
Tangible assets 14 3,438,376 2,456,766 668,530 33,955
CURRENT ASSETS
Debtors 15 68,640 176,625 58,634 169,132
Cash at bank and in hand 478,692 441,133 464,600 400,934
_ _ _ _
547,332 617,758 523,234 570,066
CREDITORS
Amounts falling due within one year 16 69,514 32,218 67,420 58,953
_ _ _ _
NET CURRENT ASSETS 477,818 585,540 455,814 511,113
_ _ _ _
TOTAL ASSETS LESS CURRENT
LIABILITIES 3,916,194 3,042,306 1,124,344 545,068
CREDITORS
Amounts falling due in more than one year 17 720,998 - 444,507 -
_ _ _ _
TOTAL NET ASSETS 3,195,196 3,042,306 679,837 545,068
______ ______ ______ ______
FUNDS OF THE CHARITY 19
Unrestricted funds:
General 3,013,326 2,860,436 492,249 357,480
Designated 167,394 167,394 133,142 133,142
Restricted funds 14,476 14,476 54,446 54,446
_ _ _ _
3,195,196
______		 3,042,306
______		 679,837
______		 545,068
______

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

The financial statements were approved by the Board of Trustees on 27[th] January 2022 and were signed on its behalf by:

…………………………………………. …………………………………………. Mr R Jackson – Trustee Mrs S Small – Trustee

The notes form part of these financial statements

14

Ivy Manchester Limited (Registered number: 07109404)

Statement of Cash Flows and Consolidated Statement of Cash Flows For the year ended 31st March 2021

2021 2021 2020 2020
Group Charity Group Charity
Notes £ £ £ £
Cash used in operating activities 22 418,658
______		 60,012
______		 362,650
______		 (110,824)
______
Cash flows from investing activities
Purchase of tangible fixed assets (405,730) (20,977) (413,828) (3,761)
Interest from investments 1,164 1,164 1,507 1,507
_ _ _ _
Cash used in investing activities (404,566) (19,813) (412,321) (2,254)
_ _ _ _
Increase (decrease) in cash and cash
equivalents in the year 14,092 40,199 (49,671) (113,078)
_ _____ _ _
Cash and cash equivalents at the beginning of
the year 464,600 400,934 514,271 514,012
_ _ _ _
Total cash and cash equivalents at the end
of the year 23 478,692
______		 441,133
______		 464,600
______		 400,934
______

The notes form part of these financial statements

15

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31st March 2021

1. Statutory information

Ivy Manchester Limited is a private charitable company, limited by guarantee, registered in England and Wales. The charitable company’s registered number and registered office can be found on the Report of the Trustees. Ivy Manchester Limited is a public benefit entity.

The presentation currency for the financial statements is Pound Sterling (£).

2. Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, the Companies Act 2006 and the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice, effective 1[st] January 2019. The financial statements have been prepared under the historical cost convention.

Preparation of the accounts on the going concern basis

The trustees have reviewed the circumstances of the charitable group and consider that adequate resources continue to be available to fund the activities of the Church, and of Ladybridge Connect Limited, for the foreseeable future. The trustees are of the opinion, therefore, that no material uncertainties relating to going concern exist and it remains appropriate to prepare the consolidated accounts on a going concern basis.

Group financial statements

The financial statements consolidate the results of the charity and Ladybridge Connect Limited on the basis that Ivy Manchester Limited controls Ladybridge Connect Limited by virtue of holding a majority of the company’s voting rights. The financial statements have been consolidated on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure account for the charity has not been presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the group is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Government grants received are recognised on a receivable basis. Non government grants relating to capital assets are recognised as income over the expected useful life of the asset.

Investment income comprises of interest receivable.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources. Expenditure includes any VAT which cannot be recovered.

Costs of raising funds relates to the expenditure of the subsidiary undertaking. Charitable activities relates to expenditure incurred in the furtherance of the charitable objectives.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include website, cleaning, computer costs, lease of equipment, bank charges and subscriptions. The costs for employing support staff are included in staff costs within note 7 to the financial statements.

16

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31st March 2021

Governance costs

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

Volunteers

The value of services provided by volunteers is not incorporated into these financial statements. Further details of the contribution made by volunteers can be found in the Trustees’ Annual Report.

Tangible fixed assets

Donated freehold land and buildings are initially recognised at fair value and depreciated on a straight-line basis over their estimated useful lives. Individual fixed assets costing £1,000 or more are capitalised at cost and depreciated on a straight-line basis over the estimated useful lives as follows:

Assets in the course of construction - not depreciated
Freehold land & buildings - 50 years
Leasehold land & property - 10,20, 50 & 125 years
Fixtures and fittings - 5 years
Plant and machinery - 5 years

Buildings under construction are accounted for at cost. They are not depreciated until the accounting period in which they are brought into use.

Impairment reviews are carried out when there is some indication that the carrying amount of a functional fixed asset is below its net book value.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount after allowing for any trade discounts due. Deferred income relates to conference contributions and grants received during the year which relate to future periods.

Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.

Taxation

As a registered charity, the company benefits from rates relief and is generally exempt from Income Tax, Corporation Tax and Capital Gains Tax, but not Valued Added Tax.

Pensions

The charity operates defined contribution pension schemes. Contributions payable to the charity’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Fund accounting

Unrestricted funds are those funds for use at the discretion of the trustees in furtherance of the general objective of the charity.

Designated funds are unrestricted funds earmarked by the wider leadership team for a particular purpose.

17

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31st March 2021

Fund accounting (continued)

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of the appeal. It is the policy of the charity for any tax reclaimed on all types of gift aid payments to be retained by the charity and placed in the unrestricted funds, unless otherwise specifically requested by the donor.

Company Status

Ivy Manchester Limited is a company limited by guarantee. The members of the company are the trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

Related party transactions

The company has taken advantage of the exemption in Financial Reporting Standard No. 8 ‘Related Party Disclosures’ not to disclose transactions with group companies which are eliminated on consolidation in the group financial statements.

  1. Donations
Unrestricted Restricted 2021 2020
Funds Funds Total Total
£ £ £ £
Gifts & offerings 751,038 51,907 802,945 915,709
Grants received 38,959 13,478 52,437 -
Tax refunds 161,543 - 161,543 183,220
______ ______ ______ ______
951,540
______		 65,385
______		 1,016,925
______		 1,098,929
______

18

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31st March 2021

4. Subsidiary company results

4.
Subsidiary company results
As reported in subsidiary
financial statements
2021 2020
£ £
Turnover 7,246 8,226
Other income 23,260 7,158
______ ______
Total income 30,506 15,384
Operating costs (16,266) (10,462)
Legal & professional fees (2,100) (3,678)
Depreciation (37,718) (8,434)
______ ______
Total expenditure (56,084) (22,574)
______ _______
Profit/(loss) for the year (25,578)
______		 (7,190)
______

Ladybridge Connect Limited is controlled by Ivy Manchester Limited by virtue of owning the majority of the company’s voting rights. The company carries out the operation of sports facilities and the trading results for the period from incorporation to the date of these financial statements are set out above. The results of the subsidiary company are included in these financial statements.

Ladybridge Connect Limited’s registered office is the same as that of Ivy Manchester Limited

During the year, Ivy Manchester Limited made a capital grant to Ladybridge Connect Limited of £49,834 (2020: £150,000) that has been eliminated from the Consolidated Statement of Financial Activities.

At the 31[st] March 2021 the aggregate amount of this company’s assets, liabilities and reserves was:

2021 2020
£ £
Fixed assets 981,609 634,574
Current assets 48,267 71,861
Creditors: amounts falling due within one year (163,311) (130,161)
______ ______
866,565 576,274
Creditors: amounts falling due after more than one year (905,186) (589,317)
______ ______
Capital & reserves (38,621)
______		 (13,043)
______

19

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31st March 2021

5 . Charitable activities

Unrestricted Restricted 2021 2020
Funds Funds Total Total
£ £ £ £
Rental income 1,000 - 1,000 3,032
Toddlers and baby group - - - 2,001
Conferences 22,489 42,838 65,327 92,582
Other 7,362 - 7,362 11,673
______ ______ ______ ______
30,851
______		 42,838
______		 73,689
______		 109,288
______
6. Other trading activities
Unrestricted Restricted 2021 2020
Funds Funds Total Total
£ £ £ £
Den café - - - 4,119
Rents & service charges 4,397 - 4,397 6,271
Grants & donations 17,124 - 17,124 4,924
_ _ _ _
21,521 - 21,521 15,314
______ ______ ______ ______
7. Staff costs
Unrestricted Restricted 2021 2020
Funds Funds Total Total
£ £ £ £
Salaries 363,248 31,085 394,333 407,562
Social security 28,121 178 28,299 29,090
Pensions 38,091 913 39,004 38,472
______ ______ ______ ______
429,460
______		 32,176
______		 461,636
______		 475,124
______

There were no employees with employee benefits (excluding employer pension costs) of £60,000 or more in the year (2020: none).

The average number of employees was as follows:

Pastoral Team
Children’s workers
Administration Team		 2021
8
3
9
__
20
____		 2020
9
4
10
__
23
____

20

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31st March 2021

7. Staff costs (cont’d)

In addition to these employees, many volunteers who worship at the church donate a great amount of time to Ivy Manchester Limited. The value of this time is impossible to reflect in these financial statements.

The Key Management Personnel of the charity, and of the group, comprises of the Core Team. Employee benefits relating to the Key Management Personnel of the group during the year were £108,532 (2020:£ 101,073).

8. Church operating expenditure

Unrestricted Restricted 2021 2020
Funds Funds Total Total
£ £ £ £
Mission support 103,686 17,796 121,482 174,065
Church services off-site 32,619 6,705 39,324 10,971
Contributions and donations 28,336 63,035 91,371 40,301
Church materials 9,898 - 9,898 27,132
Repairs and renewals 15,125 13,478 28,603 25,130
Children, youth and student 7,053 - 7,053 16,491
Fallowfield, Fuse, Sharston, Central
and Cheadle Hulme 33,626 - 33,626 64,374
Training 3,288 - 3,288 8,400
Website, media and communications 38,125 - 38,125 38,851
Conference expenditure 29 52,726 52,755 89,949
Light and heat 7,220 - 7,220 14,083
Travel 2,601 - 2,601 6,742
Cleaning 8,363 - 8,363 19,461
Printing, postage and stationery 2,626 - 2,626 4,321
Telephone 2,854 - 2,854 3,987
Depreciation 33,166 - 33,166 29,749
Rent, rates and water 6,033 - 6,033 5,960
Catering 1,008 - 1,008 3,917
Computer costs 1,827 - 1,827 2,034
Insurance 4,481 - 4,481 3,875
Lease of equipment 1,656 - 1,656 1,656
Bank charges 4,276 214 4,490 5,023
Subscriptions 965 - 965 1,572
Legal & professional fees 4,478 - 4,478 3,138
Sundries 327 - 327 1,179
Loss on disposal of fixed assets - - - 630
Governance costs (included in note 10) 7,600 - 7,600 9,395
______ ______ ______ ______
361,266
______		 153,954
______		 515,220
______		 612,386
______

Support costs include website, cleaning, computer costs, lease of equipment, bank charges & subscriptions.

21

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31[st] March 2021

9. Extraordinary item

On 9[th] October 2020, Brockbank Foundation Ltd, a charity registered in England & Wales, donated the church building and two residential properties to Ivy Manchester Limited. This donation was valued by Smithers Purslow Ltd on 5[th] January 2022 at £2,435,000. The donated land and property are recognised on the balance sheet within tangible fixed assets.

10. Governance costs

Legal and professional fees
Auditors’ remuneration
Auditors’ remuneration – non audit services
Irrecoverable VAT		 2021
£
-
4,453
2,630
1,267
__
8,350
____		 2020
£
3,684
3,200
1,760
1,501
__
10,145
____

11. Trustees’ remuneration and expenses

Rev. Anthony Delaney

Remuneration including pension contributions £60,001 - £70,000

The Senior Pastor, Rev. Anthony Delaney, is remunerated in accordance with charitable company’s Memorandum and Articles of Association and his contract of employment for work done on behalf of the church.

Two trustees (2020: two trustees) were reimbursed £18,105 (2020: £30,999) for travel & church activity expenses during the year.

The number of trustees to whom retirement benefits were accruing was as follows:

2021 2020
Money purchase schemes 1 1

12. Results of the charitable company

As permitted by Section 408 of the Companies Act 2006, the parent company’s Income and Expenditure Account has not been included in these financial statements. The parent company’s surplus for the financial year was £62,238 (2020: £25,669 deficit).

22

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31[st] March 2021

13. Comparatives for the Statement of Financial Activities (Year Ending 31[st] March 2020)

Unrestricted Restricted Total
Funds Funds Funds
2020 2020 2020
£ £ £
Income from:
Donations 983,451 115,478 1,098,929
Charitable activities 23,088 86,200 109,288
Other trading activities 15,314 - 15,314
Investment income 1,507 - 1,507
_ _ _
Total income 1,023,360 201,678 1,225,038
_ _ _
Expenditure on:
Cost of raising funds:
Cost of raising funds and other costs 22,574 - 22,574
Charitable activities:
Staff costs 407,577 67,547 475,124
Church operating expenses 427,594 184,792 612,386
_ _ _
Total expenditure 857,745 252,339 1,110,084
_ _ _
Net income/(expenditure) 165,615 (50,661) 114,954
Transfers between funds (82,368) 82,368 -
_ _ _
Net movement in funds
83,247 31,707 114,954
_ _ _
RECONCILIATION OF FUNDS
Total funds brought forward 542,144 22,739 564,883
_ _ _
Total funds carried forward 625,391
_		 54,446
_		 679,837
_

23

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31[st] March 2021

14. Tangible fixed assets
Assets under Land Plant and Fixtures
Group construction & property machinery and fittings Total
£ £ £ £ £
COST:
At 1stApril 2020 277,572 352,607 112,270 81,648 824,097
Additions 310,320 2,435,000 20,977 74,433 2,840,730
Transfers (587,892) 587,892 - - -
_ _ _ _ _
At 31stMarch 2021 - 3,375,499 133,247 156,081 3,664,827
_ _ _ _ _
DEPRECIATION:
At 1stApril 2020 - 6,542 93,597 55,428 155,567
Charge for year - 19,925 19,860 31,099 70,884
_ _ _ _ _
At 31stMarch 2021 - 26,467 113,457 86,527 226,451
_ _ _ _ _
NET BOOK VALUE:
At 31stMarch 2021 - 3,349,032 19,790 69,554 3,438,376
_ _ _ _ _
At 31stMarch 2020 277,572 346,065 18,673 26,220 668,530
_ _ _ _ _
Land and Plant and Fixtures
Charity property machinery and fittings Total
£ £ £
COST:
At 1stApril 2020 - 112,270 67,106 179,376
Additions 2,435,000 20,977 - 2,455,977
_ _ _ _
At 31stMarch 2021 2,435,000 133,247 67,106 2,635,353
_ _ _ _
DEPRECIATION:
At 1stApril 2020 - 93,597 51,824 145,421
Charge for year - 19,860 13,306 33,166
_ _ _ _
At 31stMarch 2021 - 113,457 65,130 178,587
_ _ _ _
NET BOOK VALUE:
At 31stMarch 2021 2,435,000 19,790 1,976 2,456,766
_ _ _ _
At 31stMarch 2020 - 18,673 15,282 33,955
_ _ _ _

Included in land and property is a church building, land and two residential properties which were donated to the group during the year by Brockbank Foundation Ltd, a charity registered in England & Wales. The value of the donation was valued by Smithers Purslow on an Investment Value (Worth) basis on 5[th] January 2022 at £2,435,000.

24

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31[st] March 2021

  1. Debtors: Amounts falling due within one year
2021
2021
Group
Charity
£
£
Trade debtors
-
-
Prepayments & accrued income
57,842
56,005
VAT
8,871
-
Other debtors
1,927
1,928
__
_
68,640
57,933
Amounts falling due after more than one year
Amounts owed from related undertaking
-
118,692
_
_
Aggregate amounts
68,640
176,625


16.
Creditors: Amounts falling due within one year
2021
2021
Group
Charity
£
£
Accruals & deferred income
68,948
31,652
Other creditors
566
566


69,514
32,218

___		 2020
2020
Group
Charity
£
£
1,077
-
51,658
50,440
5,899
-
-
-
__
_
58,634
50,440
-
118,692
_
_
58,634
169,132


2020
2020
Group
Charity
£
£
67,330
58,953
90
-


67,420
58,953

___		 2020
2020
Group
Charity
£
£
1,077
-
51,658
50,440
5,899
-
-
-
__
_
58,634
50,440
-
118,692
_
_
58,634
169,132


2020
2020
Group
Charity
£
£
67,330
58,953
90
-


67,420
58,953

___
2020
Charity
£
58,953
-
__
58,953
____

Deferred income consists of contributions received in advance towards events taking place in the following financial year. Also included is deferred capital grant income which is released to the Statement of Financial Activities over the useful economic life of the fixed assets on which it was spent. Deferred income brought forward was from the previous year was £496,424, income deferred in the year was £304,275 and deferred income released to the Statement of Financial Activities in the year was £60,588.

17. Creditors: Amounts falling due after one year

2021
2021
2020
Group
Charity
Group
£
£
£
Deferred grant income
720,998
-
444,507
__
_

720,998
-
444,507


___		 2020
Charity
£
-
__
-
____

25

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31[st] March 2021

17. Creditors: Amounts falling due after one year (cont’d)

Amounts falling due after five years and not repayable by instalments:

2021
2021
2020
Group
Charity
Group
£
£
£
Deferred grant income
655,807
-
407,891
_
_
_
655,807
-
407,891
__
_
___		 2020
Charity
£
-
_
-
______

18. Operating lease commitments

The following operating lease payments are committed to be paid:

2021 2020
£ £
Within than one year 2,656 2,657
Between two and five years 6,484 8,144
More than five years 117,000 118,005
______ ______
126,140
______		 128,806
______

Operating lease payments recognised as an expense in the year totalled £2,656 (2020: £2,656).

19. Movement in funds

Group

Group
Extra-
1st April Incoming Resources ordinary 31st March
2020 Resources Expended Transfers item 2021
£ £ £ £ £
Unrestricted funds:
General fund 492,249 847,405 (768,435) (7,148) 2,435,000 2,999,071
Designated funds 133,142 157,671 (78,375) (31,500) - 180,938
_ _ _ _ _ _
625,391 1,005,076 (846,810) (38,648) 2,435,000 3,180,009
Restricted funds 54,446 108,223 (186,130) 38,648 - 15,187
_ _ _ _ _ _
679,837
1,113,299		 (1,032,940) - 2,435,000 3,195,196
_ _ **_ ** _ _ _

26

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31[st] March 2021

19. Movement in funds (cont’d)

Net movement in funds, included in the above, are as follows:

Group

Group
Extra-
Incoming Resources ordinary Movement
Resources Expended Transfers item in funds
£ £ £ £
Unrestricted funds:
General fund 847,405 (768,435) (7,148) 2,435,000 2,506,822
Designated funds 157,671 (78,375) (31,500) - 47,796
_ _ _ _ _
1,005,076 (846,810) (38,648) 2,435,000 2,554,618
Restricted funds 108,223 (186,130) 38,648 - (39,259)
_ _ _ _ _
1,113,299
______		 (1,032,940)
______		 -
______		 2,435,000
______		 2,515,359
______

Transfers between funds relate to transfers to the CAP, Eden, WTC and NewThing restricted funds.

Restricted funds relate to donations restricted by the donors for use towards various Church programmes/activities, such as CAP and Eden, as well as several local and wider community causes.

Comparative net movement in funds included in the above are as follows:

1stApril Incoming Resources 31stMarch
2019 Resources Expended Transfers 2020
£ £ £ £ £
Unrestricted funds:
General fund 292,034 850,650 (568,067) (82,368) 492,249
Designated funds 250,110 172,710 (289,678) - 133,142
_ _ _ _ _
542,144 1,023,360 (857,745) (82,368) 625,391
Restricted funds 22,739 201,678 (252,339) 82,368 54,446
_ _ ___ _ _
564,883
_		 1,225,038
_		 (1,110,084)
___		 -
_		 679,837
_

27

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31[st] March 2021

19. Movement in funds (cont’d)

Net movement in funds, included in the above, are as follows:

Group
Incoming Resources Movement
Resources Expended Transfers in funds
£ £ £ £
Unrestricted funds:
General fund 850,650 (568,067) (82,368) 200,215
Designated funds 172,710 (289,678) - (116,968)
_ _ _ _
1,023,360 (857,745) (82,368) 83,247
Restricted funds 201,678 (252,339) 82,368 31,707
_ ____ _ _
1,225,038
 (1,110,084) - 114,954

20. Related party disclosures

Trustee, Reverend Anthony Delaney, is an employee of Ivy Manchester Limited and received remuneration from the company during the year, as set out in note 11 “Trustees’ remuneration and expenses”.

The group employs a son and two daughters of trustee Anthony Delaney (Hannah Bettany, Emma Jeffrey and Joel Delaney), as well as the spouses of trustees Sarah Small (Stephen Small) and Robert Jackson (Gail Jackson). These related parties received employee benefits in the year totalling £92,771 (2020: £91,126).

During the year, the aggregate donations received from trustees and related parties without conditions was £57,825 (2020: £49,896).

21. Pension commitments

The group operates defined contribution pension schemes for its employees. The assets of the schemes are held separately from those of the group in independently administered funds. Contributions payable for the year are charged to the Statement of Financial Activities.

The pension charge included in the Statement of Financial Activities for the year was £38,091 (2020: £38,472). There were no pension commitments outstanding at the end of the current or previous financial year.

28

Ivy Manchester Limited (Registered number: 07109404)

Notes to the Financial Statements For the year ended 31[st] March 2021

  1. Reconciliation of net movement in funds to net cash flow from operating activities
2021
2021
Group
Charity
£
£
Net movement in funds
2,515,359
2,497,238
Donated fixed assets received
(2,435,000)
(2,435,000)
Depreciation charge
68,245
33,166
Loss on disposal of fixed assets
-
-
Interest from investments
(1,164)
(1,164)
Decrease/(increase) in trade
and other debtors
(10,006)
(7,493)
Increase/(decrease) in trade
and other creditors
281,224
(26,735)
__
_
Net cash used in operating activities
418,658
60,012
_
_
23.
Analysis of cash and cash equivalents
2021
2021
Group
Charity
£
£
Cash at bank and in hand
478,692
441,133


478,692
441,133

___		 2020
2020
Group
Charity
£
£
114,954
(25,669)
-
-
38,183
29,750
630
630
(1,507)
(1,507)
24,294
(100,632)
186,096
(13,396)
__
_
362,650
(110,824)
_
_
2020
2020
Group
Charity
£
£
464,600
400,934
_
_
464,600
400,934

____

29