| Trustees | John Samuel (Chair) | John Samuel (Chair) | |||
|---|---|---|---|---|---|
| John Taylor | |||||
| Paul Chambers | |||||
| Ivan Baird | |||||
| Philip Long | (Appointed | 3March 2022) | |||
| Angela Vincent | (APPointed | 3March 2022) | |||
| Ali Azzopardi | |||||
| Gareth Batten | |||||
| Tim Totton | |||||
| Siobhan Temple | |||||
| Chuck Bateman | |||||
| Stephen Pryor |
|||||
| Charity number | 1134492 | ||||
| Company | number | 07118491 | |||
| Registered | office | Duke Street | |||
| Richmond | |||||
| Surrey | |||||
| TW9 1DH | |||||
| Auditor | Jacob Cavenagh | &Skeet | |||
| 5 Robin Hood Lane | |||||
| Sutton | |||||
| Surrey | |||||
| SM1 2SW | |||||
| Bankers | Barclays Bank pic |
| Page | ||
|---|---|---|
| Trustees' report | ||
| Independent auditor's |
report | 6-6 |
| Statement offinancial | activities | |
| Balance sheet | 10 | |
| Statement ofcash flows |
||
| Notes to the financial | statements | 12-23 |
| The trustees, who are also the direc the date ofsignature ofthe financial |
tors for the purpose ofco statements were: |
mpany law, and |
|---|---|---|
| John Samuel (Chair) | ||
| John Taylor | ||
| Paul Chambers | ||
| Ivan Baird | ||
| Philip Long | (Appointed | 3March 2022) |
| Angela Vincent | (Appointed | 3March 2022) |
| David Shafik | (Resigned | 19May 2022) |
| Lisa Coleridge | (Resigned | 3March 2022) |
| Ali Azzopardi | ||
| Gareth Batten | ||
| Tim Totton | ||
| Siobhan Temple | ||
| Chuck Bateman | ||
| Stephen Pryor |
| Unrestricted | Restricted | Total | Unrestdicted | Restricted | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||||
| Notes | 2022 f |
2022 8 |
2022 6 |
2021 8 |
2021 5 |
2021 6 |
|||
| Income from: | |||||||||
| Donations and legacies |
481,044 | 170,844 | 651,888 | 515,988 | 413,300 | 929,288 | |||
| Charitable activities |
67,782 | 67,782 | 54,910 | 54,910 | |||||
| Investments | 27,805 | 70 | 27,875 | 30,990 | 66 | 31,056 | |||
| Other income | 1,804 | 1,804 | 172 | 172 | |||||
| Total income | 578,435 | 170,914 | 749,349 | 602,060 | 413,366 | 1,015,426 | |||
| ~E* de |
|||||||||
| Charitable activities |
|||||||||
| Ongoing | 645,293 | 96,795 | 742,088 | 545,097 | 105,004 | 650,101 | |||
| Loss on property | |||||||||
| refurbishment | 451,469 | 451,469 | |||||||
| Total charitable | expenditure | 645,293 | 96,795 | 742,088 | 996,566 | 105,004 | 1,101,570 | ||
| Net gains/(losses) | on | ||||||||
| investments | 11 | (400,000) | (400,000) | ||||||
| Net | |||||||||
| (expenditure)/income | |||||||||
| before transfers | (66,858) | 74,119 | 7,261 | (794,506) | 308,362 | (486,144) | |||
| Gross transfers | between | ||||||||
| funds | 23 | 370,705 | (370,705) | 566,882 | (566,882) | ||||
| Net income/(expenditure) | for | ||||||||
| the year/ | |||||||||
| Net movement | in | funds | 303,847 | (296,586) | 7,261 | (227,624) | (258,520) | (486,144) | |
| Reconciliation | of | funds | |||||||
| Fund balances at 1 | |||||||||
| January 2022 | 6,334,405 | 298,653 | 6,633,058 | 6,562,029 | 557,173 | 7,119,202 | |||
| Fund balances | at31 | ||||||||
| December 2022 | 6,638,252 | 2,067 | 6,640,319 | 6,334,405 | 298,653 | 6,633,058 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | 5 | f | |||||
| Fixed assets | |||||||
| Tangible assets | 13 | 5,922,397 | 4,639,227 | ||||
| Investment | properties | 14 | 1,750,000 | 1,750,000 | |||
| 7,672,397 | 6,389,227 | ||||||
| Current assets | |||||||
| Debtors | 15 | 59,059 | 65,799 | ||||
| Cash at bank and in | hand | 113,970 | 968,303 | ||||
| 173,029 | 1,032,102 | ||||||
| Creditors: | amounts | falling due within | |||||
| one year | 16 | (613,695) | (156,040) | ||||
| Net current | (liabilities)/assets | (440,666) | 876,062 | ||||
| Total assets less current liabilities | 7,231,731 | 7,265,289 | |||||
| Creditors: | amounts | falling due after | |||||
| more than | one year | 17 | (591,412) | (632,231) | |||
| Net assets | 6,640,319 | 6,533,058 | |||||
| Income funds | |||||||
| Restricted | funds | 23 | 2,067 | 298,653 | |||
| Unrestricted | funds | 6,638,252 | 6,334,405 | ||||
| 6,640,319 | 6,633,058 |
| 2022 | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Notes | 8 | 6 | |||||||
| Cash flows from operating | activities | ||||||||
| Cash generated from operations |
144,676 | 466,899 | |||||||
| Investing | activities | ||||||||
| Purchase | oftangible fixed assets | (1,301,494) | (532,823) | ||||||
| Proceeds | from disposal oftangible | fixed | |||||||
| assets | 554 | 2,115 | |||||||
| Investment | income received | 27,875 | 31,056 | ||||||
| Net cash | used in investing | activities | (1,273,065) | (499,652) | |||||
| Financing | activities | ||||||||
| Proceeds | from new bank loans | 319,472 | |||||||
| Repayment | ofbank loans | (43,416) | (56,684) | ||||||
| Net cash generated from/(used |
in) | ||||||||
| financing | activities | 276,056 | (56,884) | ||||||
| Net decrease in cash and | cash | equivalents | (852,333) | (89,437) | |||||
| Cash and | cash equivalents | at beginning | ofyear | 966,303 | 1,055,740 | ||||
| Cash and | cash equivalents | at end of | year | 113,970 | 966,303 |
| 2022 | 2021 | |
|---|---|---|
| F | ||
| Book &CD income | 29 | 413 |
| Hire ofpremises | 38,536 | 50,397 |
| Events | 29,217 | 1,700 |
| Rent | 2,400 | |
| 67,782 | 54,910 |
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | ||
| 5 | 5 | 6 | f | F | F. | ||
| Rental | income | 27,683 | 27,683 | 30,977 | 30,977 | ||
| Interest | receivable | 122 | 70 | 192 | 13 | 79 | |
| 27,805 | 70 | 27,875 | 30,990 | 66 | 31,056 |
| Unrestricted | Missionary | Auditorium | OtherTotal | 2022Total | 2021 | ||
|---|---|---|---|---|---|---|---|
| support | restricted | ||||||
| E | E | E | E | E | E | ||
| Employee costs | 266,002 | 266,002 | 235,126 | ||||
| Depreciation | and | ||||||
| impairment | 451,469 | ||||||
| Other staff related costs | 24,615 | 24,615 | 28,534 | ||||
| Direct costs | 59,201 | 1,544 | 60,745 | 23,466 | |||
| 349,818 | 1,544 | 351,362 | 738,595 | ||||
| Grant funding | ofactivities | ||||||
| (see note 10) | 57,805 | 18,766 | 76,571 | 99,694 | |||
| Share ofsupport costs | |||||||
| (see note 9) | 287,507 | 18,680 | 306,187 | 257,719 | |||
| Share ofgovernance | |||||||
| costs (see note 9) | 7,968 | 7,968 | 5,562 | ||||
| 645,293 | 57,805 | 18,680 | 20,310 | 742,088 | 1,101,570 | ||
| Analysis by |
fund | ||||||
| Unrestricted | funds | 645,293 | 645,293 | ||||
| Restricted funds | 57,805 | 18,680 | 20,310 | 96,795 | |||
| 645,293 | 57,805 | 18,680 | 20,310 | 742,088 |
| 8 | Employees | (Continued) | |
|---|---|---|---|
| Employment costs |
2022 | 2021 | |
| 5 | 5 | ||
| Wages and salaries | 225,910 | 198,867 | |
| Social security costs | 17,579 | 16,398 | |
| Other pension costs | 22,513 | 19,861 | |
| 266,002 | 235,126 |
| Support | costs | ||||
|---|---|---|---|---|---|
| Support | Governance | 2022 | 2021 | ||
| costs | costs | ||||
| 6 | f | ||||
| Depreciation | 154,508 | 154,508 | 113,331 | ||
| Admin costs | 91,524 | 91,524 | 89,379 | ||
| Premises | costs | 60,155 | 60,155 | 55,009 | |
| Audit fees | 7,968 | 7,968 | 5,562 | ||
| 306,187 | 7,968 | 314,155 | 263,281 | ||
| Analysed | between | ||||
| Charitable | activities | 306,187 | 7,968 | 314,155 | 263,281 |
| Unrestricted | Missionary | OtherTotal | 2022Total | 2022Total | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| support | restricted | |||||||||||
| 6 | 6 | 6 | 8 | |||||||||
| Grants to | institutions: | |||||||||||
| Predica Fiel | 8,120 | 8,120 | 9,100 | |||||||||
| Overseas | Missionary | Fellowship | 15,244 | 15,244 | 18,652 | |||||||
| London City | Mission | 6,887 | ||||||||||
| Insight | 6,000 | 6,000 | 6,000 | |||||||||
| UFM | 8,658 | 8,658 | 21,272 | |||||||||
| Pacific Trust | 9,768 | |||||||||||
| Proclamation | Institute | Zambia | 6,240 | 6,240 | 8,000 | |||||||
| Slovakia Bretheren | Church | 8,500 | 10,646 | 19,146 | 8,000 | |||||||
| Other | 5,830 | |||||||||||
| IFES | 10,163 | 10,163 | ||||||||||
| 54,805 | 18,766 | 73,571 | 93,509 | |||||||||
| Grants to individuals | 3,000 | 3,000 | 6,185 | |||||||||
| 57,805 | 18,766 | 76,571 | 99,694 | |||||||||
| Net gains/(losses) | on investments | |||||||||||
| Total | Unrestricted | |||||||||||
| funds | ||||||||||||
| 2022 | 2021 | |||||||||||
| 6 | f | |||||||||||
| Revaluation | ofinvestment | properties | (400,000) |
| Tangible fixed assets | Tangible fixed assets | ||||
|---|---|---|---|---|---|
| Freehold land | Fixtures, | Total | |||
| &buildings | fittings & |
||||
| equipment | |||||
| 6 | |||||
| Cost | |||||
| At 1 January | 2022 | 5,476,665 | 129,642 | 5,606,307 | |
| Additions | 1,111,914 | 325,764 | 1,437,678 | ||
| Disposals | (1,570) | (1,570) | |||
| At 31 December 2022 | 6,588,579 | 453,836 | 7,042,415 | ||
| Depreciation | and impairment | ||||
| At 1 January | 2022 | 881,989 | 85,091 | 967,080 | |
| Depreciation | charged | in the year | 119,538 | 34,970 | 154,508 |
| Eliminated in |
respect ofdisposals | (1,570) | (1,570) | ||
| At 31 December 2022 | 1,001,527 | 118,491 | 1,120,018 | ||
| Carrying amount |
|||||
| At 31 December 2022 | 5,587,052 | 335,345 | 5,922,397 | ||
| At 31 December 2021 | 4,594,676 | 44,551 | 4,639,227 |
| 15 | Debtors | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||
| Amounts | falling | due | within one year: | 5 | 6 | ||||
| Other debtors | 42,812 | 53,620 | |||||||
| Prepayments | and | accrued income | 16,247 | 12,179 | |||||
| 59,059 | 65,799 | ||||||||
| 16 | Creditors: | amounts | falling due within one year | ||||||
| 2022 | 2021 | ||||||||
| Notes | 5 | 5 | |||||||
| Bank loans | 18 | 374,243 | 57,368 | ||||||
| Other taxation | and | social security | 5,480 | 4,690 | |||||
| Other creditors | 171,015 | 16,490 | |||||||
| Accruals and deferred | income | 62,957 | 77,492 | ||||||
| 613,695 | 156,040 | ||||||||
| 17 | Creditors: | amounts | falling due after more than one year | ||||||
| 2022 | 2021 | ||||||||
| Notes | f | ||||||||
| Bank loans | 18 | 591,412 | 632,231 | ||||||
| 18 | Loans and | overdrafts | |||||||
| 2022 | 2021 | ||||||||
| 5 | 5 | ||||||||
| Bank loans | 965,655 | 689,599 | |||||||
| Payable within | one year | 374,243 | 57,368 | ||||||
| Payable after one | year | 591,412 | 632,231 | ||||||
| Amounts included |
above which fall due after five years: | ||||||||
| Payable by |
instalments | 347,903 | 391,403 |
| 19 | Analysis of net assets | Analysis of net assets | between funds |
|||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |||
| funds | funds | funds | funds | |||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |||
| 6 | 6 | 6 | 6 | 8 | 6 | |||
| Fund balances at 31 | ||||||||
| December | are | |||||||
| represented | by: | |||||||
| Tangible assets | 5,922,397 | 5,922,397 | 4,639,227 | 4,639,227 | ||||
| Investment | properties | 1,750,000 | 1,750,000 | 1,750,000 | 1,750,000 | |||
| Current assets/(liabilities) | (442,733) | 2,067 | (440,666) | 577,409 | 298,653 | 876,062 | ||
| Long term | liabilities | (591,412) | (591,412) | (632,231) | (632,231) | |||
| 6,638,252 | 2,067 | 6,640,319 | 6,334,405 | 298,653 | 6,633,058 |
| 2022 | 2021 | |
|---|---|---|
| 6 | 6 | |
| Within one year | 27,526 | 5,858 |
| Between two and five years | 22,727 | 14,679 |
| 50,253 | 20,337 |
| 2022 | 2021 | ||
|---|---|---|---|
| 6 | F | ||
| Aggregate | compensation | 131,396 | 116,416 |
| Movement | Movement | in funds | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at 1 | Income | Expenditure | Transfers | Balance at31 | |||||
| January | December | ||||||||
| 2022 f |
f | f | f | 2022 | |||||
| Missionary | support | 7,238 | (57,805) | 50,567 | |||||
| Fellowship | 2,367 | (300) | 2,067 | ||||||
| Predica Fiel (formerly | known as | ||||||||
| Equipo Impacto) | 3,079 | 1,563 | (8,120) | 3,478 | |||||
| Auditorium | Fund | 293,207 | 151,749 | (18,680) | (426,276) | ||||
| Manna House | (1,244) | 1,244 | |||||||
| Cirkev Bratska | 10,364 | (10,646) | 282 | ||||||
| Other restricted | funds | 298,653 | 163,676 | (38,990) | (421,272) | 2,067 | |||
| 298,653 | 170,914 | (96,795) | (370,705) | 2,067 | |||||
| Movement | in funds | ||||||||
| Balance at 1 | Income | Expenditure | Transfers | Balance at 31 | |||||
| January | December | ||||||||
| 2021 | f | F | f | 2021 f |
|||||
| Missionary | support | 28,548 | (96,539) | 67,991 | |||||
| Fellowship | 2,367 | 2,367 | |||||||
| Predica Fiel (formerly | known as | ||||||||
| Equipo Impacto) | 1,034 | 2,045 | 3,079 | ||||||
| Auditorium | Fund | 553,772 | 382,773 | (7,991) | (635,347) | 293,207 | |||
| Manna House | (424) | 424 | |||||||
| Christmas | (50) | 50 | |||||||
| Other restricted | funds | 557,173 | 384,818 | (8,465) | (634,873) | 298,653 | |||
| 557,173 | 413,366 | (105,004) | (566,882) | 298,653 |
| Transfers were made |
from the | general | fund to cover | fund to cover | the expenditure | when | it was | in excess of | the balance in |
|
|---|---|---|---|---|---|---|---|---|---|---|
| the fund. | ||||||||||
| 24 | Cash generated from |
operations | 2022 | 2021 | ||||||
| 6 | 6 | |||||||||
| Surplus/(deficit) for the |
year | 7„261 | (486,144) | |||||||
| Adjustments for: |
||||||||||
| Investment income recognised |
in statement | offinancial | activities | (27,875) | (31,056) | |||||
| Gain on disposal oftangible fixed assets | (554) | (1,213) | ||||||||
| Fair value gains and losses on | investment | properties | 400,000 | |||||||
| Depreciation and impairment oftangible |
fixed assets | 154,508 | 566,013 | |||||||
| Movements in working |
capital: | |||||||||
| Decrease in debtors |
6,740 | 28,480 | ||||||||
| Increase/(decrease) in |
creditors | 4,596 | (9,181) | |||||||
| Cash generated from |
operations | 144,676 | 466,699 | |||||||
| 25 | Analysis ofchanges | in net debt | ||||||||
| At | 1 January | Cash flows | At 31 December | |||||||
| 2022 | 2022 | |||||||||
| 6 | 6 | 6 | ||||||||
| Cash at bank and in hand | 966,303 | (852,333) | 113,970 | |||||||
| I oans falling due within | one year | (57,368) | (316,875) | (374,243) | ||||||
| Loans falling due after | more than one year | (632,231) | 40,819 | (591,412) | ||||||
| 276,704 | (1,128,389) | (851,685) |