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2021-03-31-accounts

EUROVANGELISM

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Registered charity no. 1140592 Company limited by guarantee no. 07507682

EUROVANGELISM

INDEX TO THE ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

CONTENTS PAGE
Trustees Report 1 – 8
Legal and administrative information 9
Independent Examiner’s Report 10
Statement of Financial Activities 11
Balance Sheet 12
Statement of Cash Flows 13
Notes to the financial statements 14 - 31

EUROVANGELISM

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2021

Our mission is to empower Christians in their vision to share the gospel and see lives transformed through compassion, evangelism and church planting in Eastern Europe.

We do this knowing that:

  1. God sees more than we do and is inviting us into that which he sees (John 5:19)

  2. He asks us to start with what we have, from where we are (Proverbs 3:5-6) and

  3. He will make his ways known (Proverbs 3:5-6, Psalm 103:7)

We do this by working to:

  1. Deepen & strengthen European partner relationships to effect change in Europe

  2. Inspire and equip mission-focused Christians in the UK

  3. Strengthen our foundations so that we can continue to be effective in what God has called us to

Eurovangelism is a Christian charity which supports the local church in Europe in church planting, evangelism, education, and social care projects. It has been working in Europe since 1965 adapting to the changing circumstances to best help the local church. Eurovangelism supports over fifty individuals, churches, and Christian organisations in twelve countries through finance, church partnerships, relationships, practical teams, networking and advice.

Structure, governance and management

Trustees and organisational structure

Eurovangelism is registered as a charitable company limited by guarantee with the Charity Commission of England and Wales (number 1140592) and with Companies House (number 07507682). Eurovangelism is governed by Articles of Association adopted on 27 January 2011 and operates as Transform Europe Network (TEN). Our website is: www.ten-uk.org

Eurovangelism was set up to take over the activities of a previously existing unincorporated charity of the same name (registered as a charity in 1970 with charity number 247788). The assets and funds of the unincorporated charity were donated to this charity on 1 April 2011.

The Board of Trustees appoints the Chief Executive Officer and new Trustees according to the needs of TEN. Trustees usually serve up to three terms of four years and receive an induction and ongoing training according to the needs of TEN and the individual. The Board is responsible for the governance and oversight of TEN and meets quarterly with occasional strategy meetings and online conferences as needed. Trustees are not paid for their service in this role other than expenses and none had any financial interest in any transaction with TEN. A register of Trustees interests is held to ensure that there are no conflicts of interest which is updated annually. There is no Person of Significant Control.

The CEO is responsible for implementing the vision and strategy agreed by Trustees and the day to day running of the organisation. The CEO reports to Trustees on progress and on the projects and partnerships which TEN supports. The salary of the CEO is set by Trustees based on the responsibilities of the post, comparison with other similar charities and cost of living rises as set by the NHS.

TEN is a member of the Evangelical Alliance and Global Connections.

Financial review and risk management

The financial statements have been prepared under the historical cost convention, and have been prepared under the 'small companies' provisions of the Companies Act 2006 and in accordance with the Financial

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EUROVANGELISM

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2021

Reporting Standard FRS102 and the Charities Statement of Recommended Practice (SORP FRS102) based thereon.

TEN follows policies and procedures to manage risk and ensure effectiveness, probity and legal and regulatory compliance, and reviews and updates these as necessary.

The income of TEN comes primarily through donations from individuals and churches, with some from grantmaking organisations and occasional legacies. TEN claims Gift Aid, where possible.

Financial position

TEN’s financial position at 31 March 2021 remains strong but, as has been the pattern in recent years, unrestricted expenditure exceeds income, when you exclude the more exceptional legacy and other income and include the restricted fundraising costs met from unrestricted funds (shown as a transfer in the accounts). The Trustee Board and Chief Executive Officer have put in place a plan to manage this deficit down over the coming years to ensure the sustainability of the charity, which is covered in the reserves policy note below. That said, the legacy and other income, as well as gains on investments, have more than covered this in the year to 31 March 2021, with unrestricted funds showing an overall surplus of £28,758.

Overall, the statement of financial activities for the year to 31 March 2021 was not dissimilar to those of recent years, but with another notable increase in expenditure on charitable activities. This was mainly due to increased restricted grant expenditure to meet needs flowing from the Covid-19 pandemic, but also as a result of the limitations from various lockdowns; meaning resources were more focussed on supporting partners rather than raising funds. TEN consistently achieves very close to a 25:75 split in expenditure on raising funds and charitable activities, and has done for many years, but this year saw that change to a nearly 15:85 split.

Reserves policy

The Trustee Board keeps under review the need for free reserves which are those unrestricted funds not invested in tangible fixed assets or designated for a specific purpose. Currently, to allow TEN to be managed efficiently and to provide a buffer for adverse contingencies, the Trustees’ policy is that such reserves should be maintained at a level of between three and six months of unrestricted expenditure (including the expenditure on raising funds for restricted projects, met by a transfer from unrestricted funds).

At 31 March 2021, free reserves were £189,300. The free reserves policy, this year, requires between £44,650 and £89,300. However, the Covid-19 pandemic lockdowns, and the circumstances surrounding them, led to unrestricted expenditure being lower this year than has been typical of recent years. Consequently, the parameters of this reserves policy are also lower than would be typical.

With free reserves in excess of the reserves policy upper limit by £100,000, a plan to reduce this over the next three financial years, up to the year ending 31 March 2024, will be implemented. The £100,000 excess will be used to cover the anticipated deficit of unrestricted funds over each of those years, with the amount needed gradually reducing, enabling TEN to continue operating effectively whilst doing this and ensuring the sustainability of the charity’s operations.

Investment Policy

A part of the reserves of the Charity is currently invested in a professionally managed Charles Stanley fund, through their Personal Portfolio Service. This gives exposure to both equity and fixed interest investments, in accordance with objectives agreed with the Board of Trustees. The basic aim of this investment is to obtain, over time, modest growth in real terms in the capital value and income stream arising from the underlying investments, without taking undue risk. The specific objective set by the Trustees is therefore to achieve a return over rolling 3-year periods modestly in excess of inflation over the corresponding period of time. The investments and returns are reviewed on a regular basis by the Board. The investment return (net of management fees) achieved over the year to 31 March 2021 was 17.3% (2020: -1.3%) which, when taken with

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EUROVANGELISM

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2021

the returns achieved over the preceding 2 financial years, results in a compound annualised return over the 3- year period of 6.3% – comfortably above the rate of inflation over those years.

The Charity is also a shareholder in Kentstone Properties Limited, a long-standing ‘unlisted’ property investment company, and receives dividend income and shareholder reports in consequence. A representative of the Trustees attended the Annual General Meeting of the Company in September 2020.

Risk Policy

The principal financial risk for TEN is that of receiving insufficient regular income to pay grants to its partners in Continental Europe. We limit this risk by regular communication with donors and actively seeking new funders in particular through churches and trust funds. Where there is a Partnership Memorandum of Understanding between a UK church and Partner, it is made clear that the supporting church should aim to give six months’ notice of any change in financial support. The agreements to give grants to our partners makes clear that grants given by specific donors are subject to those donors continuing to support them. Free reserves are maintained at between three to six months’ unrestricted expenditure to ensure that TEN can meet its short-term commitments in adverse conditions.

Trustees are aware of other financial risks including possible fraud, money laundering, foreign currency payments, significant investment losses and inadequate cash flow projections. Regular reviews of the finances and monitoring of the use to which funds are put by partners and money transfer systems are implemented to minimise these risks. The Trustees also regularly review other operational risks and confirm that they have established systems to manage the significant risks.

Grant making policy

We make grants to partners based on our objects and activities defined further by our strategic plan. Priorities are reviewed by Trustees and may be changed depending upon circumstances, available funds, and the perceived effectiveness of their use. Grants are only made to known partners and those recommended by long standing and trusted sources.

Trustees have delegated responsibility for grant making from unrestricted funds to the CEO for grants up to £10,000 in any one year. Grant making over £10,000 and up to £20,000 can be approved by a majority of Trustees and those higher only at a Board meeting. Grants for capital projects have the same authorisation limits.

We recognise the need to take steps to prevent the use of grants for money laundering, terrorist activity, bribery and for purposes other than those for which they were given. To this end, Trustees hold TEN’s partners accountable for the funds, resources, aid or training they have received and require them to confirm receipt of funds, produce regular reports of their activities and use of funding. In addition, we visit partners who receive funding or other help from TEN. Due to the pandemic, visits have not taken place this year but we have greatly increased online communications, calling partners regularly to offset this. Furthermore both the Finance Officer and CEO attend training to support the due diligence in relation to funds being sent overseas.

All our partners understand that the grants, training, or gifts in kind are to be used for the benefit of the community they serve and are to be freely available to all sections of the community regardless of race, religion or background. TEN continues to roll out new written agreements to clarify the roles and responsibilities of both TEN and each partner.

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EUROVANGELISM

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2021

Objectives and activities

The objects of TEN are:

“To advance the Evangelical Christian Faith particularly, but not exclusively, within Europe by the printing and distribution of the Holy Scriptures and Christian Literature, and by such Evangelical work as the Trustees at their absolute discretion see fit.”

We believe the most effective way for TEN to achieve its objects is to find and support local churches, individuals and organisations who have a vision to make Jesus and the love of God known through their words and actions and are actively practising this. We support these partners by encouraging them through online communication, visits, conferences, and networking as well as through grants, teaching and training, gifts in kind and other resources.

Activities for the public benefit

The Trustees reviewed TEN’s work regarding public benefit on 10 February 2021 with reference to the Charity Commission guidance and agreed that TEN’s activities continued to comply. The next section on achievements and performance outlines a representative selection of the work enabled by TEN. Please go to our website at www.ten-uk.org for more information on the full range of our work and stories from our partners.

Achievements and performance

Despite the challenges of the pandemic, lockdowns and working from home, we have continued to improve our performance across all areas of work. We have not been able to visit partners or carry out many visits in the UK but have found online ways to maintain communication which have brought surprising benefits. Two such examples are the frequent Zoom calls to partners and the prayer meetings drawing together partners and supporters.

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EUROVANGELISM TRUSTEES REPORT

YEAR ENDED 31 MARCH 2021

In line with our Strategic Plan these are examples of our achievements in 2020/21:

Deepening & strengthening European partner relationships to effect change in Europe

Inspiring and equipping mission-focused Christians in the UK

Strengthening our foundations to continue to be effective

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EUROVANGELISM TRUSTEES REPORT

YEAR ENDED 31 MARCH 2021

Achievements and outcomes in Europe

Many of the activities of our partners and our support are designed to bear fruit over the medium term. These are a few examples of what has been achieved and some of the outcomes:

Volunteers

The Trustees are grateful to the many volunteers across the UK who give time and energy to help TEN and our partners. This work ranges from administrative tasks, IT development, work with partners such as in summer camps, practical work, and evangelism to relief work. Volunteer Ambassadors make occasional field trips on our behalf and speak in UK churches about the work. There are currently 16 Ambassadors from around the UK. Some Ambassadors are also Country Champions who take a special interest in understanding and supporting partners in a specific country, maintaining contact, and visiting them. Despite their inability to travel this year they have been effective in communication with and supporting partners and spreading the word about TEN. In addition, we have another 6 volunteers who help with events and fundraising events. In spite of Covid19 we have recruited 4 new volunteers to support the TENteach English programme.

We are delighted that we now have two ambassadors in Northern Ireland who are helping develop our work in this region of the UK.

Maki Mico retired as trustee in July 2020. He served for four years and brought invaluable wisdom and knowledge of the Balkans as well as a pastoral heart to the work.

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EUROVANGELISM

TRUSTEES REPORT

YEAR ENDED 31 MARCH 2021

Future activities

Our aims over the next three years follow the new strategic plan. They can be summarised as follows:

Deepening & strengthening European partner relationships to effect change in Europe

Key work will be to support some younger partners; help partners strengthen their foundations and sustainability; help develop and empower new ministries and to empower partners in shaping TEN.

Inspiring and equipping mission-focused Christians in the UK

In the UK we will be working to draw in a new audience; engage Christians of all ages in our mission; and to enable increased connections with partners.

Strengthening our foundations to continue to be effective

Within TEN we will look to develop the staff and volunteer team; create a new fundraising plan; grow the support base and strengthen our relationships with supporters.

Statement of Trustees responsibilities

The trustees (who are also directors of Eurovangelism for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom 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 income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website.

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TRUSTEES REPORT

YEAR ENDED 31 MARCH 2021

Small company provisions

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

Signed for and on behalf of the Trustees

……………………………………. Hazel Vinson, Chair

Date: 12 November 2021

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EUROVANGELISM

LEGAL AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31 MARCH 2021

Registered numbers 1140592
(Charity Commission for England and Wales)
07507682
(Companies House)
Alternative operating names Transform Europe Network
TEN
Harvest for the Hungry
Trustees Mrs M Jennings
(Who are Directors for the purposes Mr L Jorgensen
of Company Law) Mrs M Lilley
Rev M Mico (to 23 July 2020)
Mrs N Mezei (from 10 February 2021)
Mrs M Reeves (from 10 February 2021)
Mr A Spencer
Ms H Vinson (Chair)
Mr E Winter
Chief Executive Officer Mr J Vaughton
Registered office 23 Apex Court
Woodlands
Bradley Stoke
Bristol BS32 4JT
Principal bankers Lloyds
PO Box 1000
Kingswood (309480)
Bristol BX1 1LT
Independent examiner Josh Kingston BSc (Hons) ACA
Burton Sweet Limited
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol BS48 1UR
Solicitors Capstone Solicitors
62 Gloucester Road
Bishopston
Bristol BS7 8BH
Investment advisors Charles Stanley & Co. Limited
Broadwalk House
Southernhay West
Exeter EX1 1TS

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EUROVANGELISM

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF EUROVANGELISM (‘THE COMPANY’)

YEAR ENDED 31 MARCH 2021

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

……………………………………… Josh Kingston BSc (Hons) ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: 12 November 2021

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EUROVANGELISM

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 MARCH 2021

Unrestricted Restricted Total funds Total funds
funds funds 2021 2020
Note £ £ £ £
Income from:
Donations and legacies 2 192,738 415,000 607,738 483,437
Charitable activites 3 98 - 98 3,050
Investments 4 2,248 - 2,248 3,381
Other: Fixed asset disposal gain 65 - 65 120,501
Total income 195,149 415,000 610,149 610,369
Expenditure on:
Raising funds 5 47,611 42,935 90,546 144,424
Charitable activities 6 118,501 369,683 488,184 424,916
Total expenditure 166,112 412,618 578,730 569,340
Net gains/(losses) on investments 15 12,211 - 12,211 (1,650)
Net income/(expenditure) 10 41,248 2,382 43,630 39,379
Transfers between funds 18 (12,490) 12,490 - -
Net movement in funds 28,758 14,872 43,630 39,379
Reconciliation of funds:
Total funds brought forward 18 602,495 139,894 742,389 703,010
Total funds carried forward 18 631,253 154,766 786,019 742,389

The charity has no recognised gains or losses other than the results for the year as set out above

All of the activities of the charity are classed as continuing

Fund comparatives are disclosed in note 20

The notes on pages 14 to 31 form part of these financial statements

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Company registration number: 07507682

EUROVANGELISM

BALANCE SHEET

AT 31 MARCH 2021

Note
Fixed assets:
Tangible assets
14
Investments
15
Current assets:
Debtors
16
Investments
15
Cash at bank and in hand
Liabilities:
Creditors: Amounts falling due
within one year
17
Net current assets
Total assets less current liabilities
Total net assets
The funds of the charity:
Unrestricted funds
Free reserves
19
Designated - Fixed assets
19
Other designated funds
19
Restricted funds
19
Total charity funds		 73,381
20,358
374,155		 2021
£
241,880
84,297
459,842		 40,101
-
354,121		 2020
£
243,614
111,368
387,407
467,894
(8,052)		 394,222
(6,815)
189,300
241,880
200,073		 276,871
243,614
82,010
786,019 742,389
786,019 742,389
631,253
154,766		 602,495
139,894
786,019 742,389

For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities;

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006,

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the Trustees on 12 November 2021 and are signed on their behalf by:

………………………………………....................................................

Lorenz Jorgensen

Trustee

The notes on pages 14 to 31 form part of these financial statements

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EUROVANGELISM

STATEMENT OF CASH FLOWS

YEAR ENDED 31 MARCH 2021

Note
Operational cash flows
Cash flowsfor
operating activities
Receipts from donations and legacies
21 (A1)
Payments for raising funds
21 (B1)
Net inflow for operating activities
Cash flowsfrom
operating activities
Receipts from charitable activites
21 (A2)
Payments for charitable activities
21 (B2)
Net outflow from operating activities
Net inflow/(outflow) of operating activities
Non-operational cash flows
Investing activities
Dividends and interest from investments
21 (C1)
Proceeds from sale of investments
Purchase of tangible fixed assets
Proceeds from sale of tangible fixed assets
Net cash provided by investing activities
Net cash inflow for the year
22		 Total funds
Total funds
2021
2020
£
£
583,823
476,341
(90,036)
(144,338)
493,787
332,003
98
3,110
(485,344)
(422,877)
(485,246)
(419,767)
8,541
(87,764)
2,248
3,381
9,180
-
-
(5,197)
65
305,050
11,493
303,234
20,034
215,470

The notes on pages 14 to 31 form part of these financial statements

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EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

1 Accounting policies

(a) Basis of preparation

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared under the 'small companies' provisions of the Companies Act 2006 and in accordance with the Financial Reporting Standard FRS102 and the Charities Statement of Recommended Practice (SORP FRS102) based thereon.

The charity is a Public Benefit Entity as defined under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The Statement of Cash Flows has been prepared on the gross/direct basis, as permitted by the Charities SORP. Cash has been defined as cash in hand and deposited with the bank or accessible from online accounts, but does not include cash held by the investments manager as part of the investments portfolio.

(b) Preparation of the accounts on a going concern basis

There are no material uncertainties about the charity’s ability to continue as a going concern, despite the significant uncertainty being caused by the worldwide COVID-19 crisis. Whilst the Trustees expect there to be an impact on the charity’s operations and reserves in the coming months and years, the charity currently believes it has sufficient reserves to be able to meet these challenges.

(c) Fund accounting

Unrestricted general funds , also known as free reserves, are available for use at the discretion of the Trustees in furtherance of the objects of the charity.

Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees. The purpose and likely timing of the use of each designated fund is set out in note 18 to the financial statements.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these criteria is charged to the fund along with the cost of raising and administering such funds. The purpose and use of those restricted funds with income greater than £10,000 are set out in note 18 to the financial statements.

Investment income and gains are allocated to the appropriate fund.

(d) Income

All income is included in the SOFA when the the charity is legally entitled to the income, the amount can be quantified with reasonable accuracy and receipt is probable. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be spent in a future accounting period.

For legacies, entitlement is taken as the earlier of:

the date on which the charity is aware that probate has been granted;

the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made; or

when a distribution is received from the estate.

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EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

1 Accounting policies (continued)

Grants, including grants for fixed assets, are recognised within the accounts as they become receivable. Grants received in the accounting period in respect of future accounting periods are deferred until those periods. All material grants are disclosed in accordance with the Charities SORP (FRS 102).

Gift Aid relief on eligible donations is recognised on an accruals basis at the same point as the original donation.

Donated services, facilities or goods are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services, facilities or goods are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain the services, facilities or goods of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. In accordance with the Statement of Recommended Practice, no amounts are included in the financial statements for services donated by volunteers.

(e) Expenditure and basis of allocation of costs

Expenditure is recognised on an accruals basis as and when a legal or constructive obligation arises.

The cost of raising funds comprise the direct costs of fundraising; through printed materials, attending events and online promotion of the charity as well as staff time spent directly on this activity.

Expenditure on charitable activites is principally grants payable to partner organisations, although staff time spent directly on this activity is also included as well as other direct costs. Grants payable are included in the SOFA when approved by the Trustees and communicated to the other organisation. The value of such grants unpaid at the year end is accrued. Grants where the beneficiary has not been informed or has to meet certain conditions before the grant is released are not accrued but are noted as financial commitments if material.

Support costs encompass all expenditure that is not wholly and directly attributable to either raising funds or charitable activities. Support costs are allocated to expenditure on raising funds and charitable activities on the basis of the cost of staff time directly attributable to each of these activities.

Governance costs are those incurred in compliance with constitutional and statutory requirements. They are included within support costs and allocated as described above.

(f) Foreign currency

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the Balance Sheet date. All differences are taken to the SOFA.

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EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

1 Accounting policies (continued)

(g) Tangible fixed assets

Tangible fixed assets of greater than £500 are stated at cost and depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life:

Computer equipment - 20% straight line

Office equipment - 20% straight line

No depreciation is charged in the month of acquisition but is charged in full in the month of disposal.

No provision for depreciation has been made for freehold property as it is the view of the Trustees that the estimated residual value of each property is not materially different from the carrying value. The Trustees undertake an impairment review whenever they identify any indicators that impairment may have occurred.

(h) Investments

Listed investments are stated at market value at the Balance Sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.

Unlisted investments are all stated at cost less allowance for impairment. The Trustees undertake an impairment review whenever they identify any indicators that impairment may have occurred.

(i) 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.

(j) 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.

(k) 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 normally recognised at their settlement amount after allowing for any trade discounts due.

(l) Pension costs

The charity contributes a fixed percentage of basic salary to the personal pension schemes of all employees, which are defined contribution schemes. Pension costs charged in the SOFA represent the contributions payable by the charity in the year.

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EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

2 Income from donations and legacies

Unrestricted Restricted Total funds Total funds
funds funds 2021 2020
£ £ £ £
Donations from individuals 130,867 160,359 291,226 212,758
Donations from trustees and related parties 2,030 4,352 6,382 9,600
Donations from churches and organisations 13,132 90,689 103,821 86,143
Legacies 25,392 - 25,392 8,571
Grants receivable for:
CASA Grace - 60,500 60,500 55,000
ISTL, Albania - 30,000 30,000 30,000
N. Macedonia key workers - 11,000 11,000 15,000
Beginning of Life, Moldova - 10,500 10,500 3,750
Building project, Albania - 11,448 11,448 -
Building project, N. Macedonia - - - 20,365
Grants receivable for other activities 21,317 36,152 57,469 42,250
192,738 415,000 607,738 483,437
(See note 24 for prior year comparatives)
3 Income from charitable activities
Unrestricted Restricted Total funds Total funds
funds funds 2021 2020
£ £ £ £
Supporter Conference - - - 1,622
Other income from charitable activities 98 - 98 1,428
98 - 98 3,050
(See note 24 for prior year comparatives)
4 Income from investments
Unrestricted Restricted Total funds Total funds
funds funds 2021 2020
£ £ £ £
Interest and dividends 2,248 - 2,248 3,381
2,248 - 2,248 3,381
(See note 24 for prior year comparatives)

17

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

5 Expenditure on raising funds

Unrestricted
Restricted
Total funds
Total funds
funds
funds
2021
2020
£
£
£
£
Fundraising materials (print & online):
Design, publish, print & postage
2,765
4,954
7,719
10,561
Developing Mission - Raising the profile of TEN
4,698
-
4,698
7,840
Staff costs
14,246
14,996
29,242
44,646
Events
-
-
-
613
Investment management fees
414
-
414
1,115
Allocated support costs_(Note 8)_
25,488
22,985
48,473
79,649
47,611
42,935
90,546
144,424
(See note 24 for prior year comparatives)
6
Expenditure on charitable activities
Total
Total
2021
2020
£
£
£
£
£
Church planting & development
172,827
8,442
30,351
211,620
219,566
Compassion projects
191,661
19,683
35,002
246,346
167,108
Evangelism
3,531
327
628
4,486
24,170
Developing Mission
-
21,958
3,774
25,732
14,072
368,019
50,410
69,755
488,184
424,916
Grants to
Grants to
Total
Total
institutions
individuals
2021
2020
£
£
£
£
Church planting & development
159,700
13,127
172,827
175,941
Compassion projects
189,822
1,839
191,661
132,264
Evangelism
3,531
-
3,531
18,877
353,053
14,966
368,019
327,082
Grants
Other
direct
costs
Support
costs
(Note 8)		 Unrestricted
Restricted
Total funds
Total funds
funds
funds
2021
2020
£
£
£
£
Fundraising materials (print & online):
Design, publish, print & postage
2,765
4,954
7,719
10,561
Developing Mission - Raising the profile of TEN
4,698
-
4,698
7,840
Staff costs
14,246
14,996
29,242
44,646
Events
-
-
-
613
Investment management fees
414
-
414
1,115
Allocated support costs_(Note 8)_
25,488
22,985
48,473
79,649
47,611
42,935
90,546
144,424
(See note 24 for prior year comparatives)
6
Expenditure on charitable activities
Total
Total
2021
2020
£
£
£
£
£
Church planting & development
172,827
8,442
30,351
211,620
219,566
Compassion projects
191,661
19,683
35,002
246,346
167,108
Evangelism
3,531
327
628
4,486
24,170
Developing Mission
-
21,958
3,774
25,732
14,072
368,019
50,410
69,755
488,184
424,916
Grants to
Grants to
Total
Total
institutions
individuals
2021
2020
£
£
£
£
Church planting & development
159,700
13,127
172,827
175,941
Compassion projects
189,822
1,839
191,661
132,264
Evangelism
3,531
-
3,531
18,877
353,053
14,966
368,019
327,082
Grants
Other
direct
costs
Support
costs
(Note 8)		 Unrestricted
Restricted
Total funds
Total funds
funds
funds
2021
2020
£
£
£
£
Fundraising materials (print & online):
Design, publish, print & postage
2,765
4,954
7,719
10,561
Developing Mission - Raising the profile of TEN
4,698
-
4,698
7,840
Staff costs
14,246
14,996
29,242
44,646
Events
-
-
-
613
Investment management fees
414
-
414
1,115
Allocated support costs_(Note 8)_
25,488
22,985
48,473
79,649
47,611
42,935
90,546
144,424
(See note 24 for prior year comparatives)
6
Expenditure on charitable activities
Total
Total
2021
2020
£
£
£
£
£
Church planting & development
172,827
8,442
30,351
211,620
219,566
Compassion projects
191,661
19,683
35,002
246,346
167,108
Evangelism
3,531
327
628
4,486
24,170
Developing Mission
-
21,958
3,774
25,732
14,072
368,019
50,410
69,755
488,184
424,916
Grants to
Grants to
Total
Total
institutions
individuals
2021
2020
£
£
£
£
Church planting & development
159,700
13,127
172,827
175,941
Compassion projects
189,822
1,839
191,661
132,264
Evangelism
3,531
-
3,531
18,877
353,053
14,966
368,019
327,082
Grants
Other
direct
costs
Support
costs
(Note 8)
47,611
42,935
90,546
144,424
Total
Total
2021
2020
£
£
£
£
8,442
30,351
211,620
219,566
19,683
35,002
246,346
167,108
327
628
4,486
24,170
21,958
3,774
25,732
14,072
Other
direct
costs
Support
costs
(Note 8)
368,019 50,410
69,755
488,184
424,916
Grants to
Grants to
Total
Total
institutions
individuals
2021
2020
£
£
£
£
159,700
13,127
172,827
175,941
189,822
1,839
191,661
132,264
3,531
-
3,531
18,877
353,053
14,966
368,019
327,082

(See Note 7)

(See note 24 for prior year comparatives)

18

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

7 Grants to institutions - detail

The vast majority of grants made to institutions are for amounts less than £10,000 per grant. Below are details of the institutions that received grants totalling more than £10,000 in the current or preceeding year.

Church of God, Albania
ISTL, Albania
Evangelical Church, N. Macedonia
Evangelical Church, N. Macedonia - Key Worker
Beginning of Life, Moldova
CASA Grace, Romania
CASA Grace, Romania - Key Worker
Emanuel Hospice, Romania
Open Heaven, Romania
Living Water Foundation, Albania
Rainbow Rehab Centre, Serbia
Grants totalling less than £10,000 per institution in both the current
and preceeding year
Total		 2021
2020
£
£
27,349
23,089
30,328
32,209
14,599
32,350
-
12,984
8,925
10,490
65,376
60,537
11,000
-
11,477
7,950
16,887
11,780
24,051
-
10,690
6,311
132,371
126,587
353,053
324,287

8 Support costs

Support costs encompass all expenditure that is not wholly and directly attributable to either raising funds or charitable activities. Support costs are allocated to expenditure on raising funds and charitable activities on the basis of the cost of staff time directly attributable to each of these activities.

Staff costs
Central operating costs
TEN UK conference
Governance costs_(Note 9)_
Cost of fixed asset disposal		 Raising
Charitable
Total
Total
funds
activities
2021
2020
£
£
£
£
38,259
55,056
93,315
86,680
9,533
13,718
23,251
28,863
-
-
-
11,619
681
981
1,662
2,650
-
-
-
5,187
48,473
69,755
118,228
134,999

(See note 24 for prior year comparatives)

9 Governance costs

Independent examiner's fee
Independent examiner's fee - prior year under accrual adjustment
Trustees' meeting expenses		 2021
2020
£
£
1,614
1,530
48
50
-
1,070
1,662
2,650

19

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

10 Net income/(expenditure) for the year

This is stated after charging:
Depreciation
Independent examiner's fee
Trustee remuneration
Reimbursed Trustee expenses - 0 Trustee (2020: 1 Trustee)
(These expenses related to travel costs)		 2021
2020
£
£
1,734
1,686
1,662
1,580
-
-
-
459

11 Employees & staff costs

The aggregate payroll costs were:
Salaries
Social security costs
Pension contributions
Key management personnel total benefits received
(Key management is made up of the Trustees and the CEO)		 2021
2020
£
£
145,980
148,980
8,872
10,061
10,210
9,666
165,062
168,707
48,567
56,551

No employee received emoluments of more than £60,000 in the current or prior year.

In the year to 31 March 2021, the average number of staff employed was 6 (2020: 6)

The number of staff employed for all or part of the year was 6 (2020: 7). Calculated on the basis of full time equivalents, the number of employees was as follows:

2021 2020
No. No.
5.5 5.7

12 Related party transactions

There were no related party transactions during the year other than those noted elsewhere.

13 Taxation

Eurovangelism is recognised as a charity for UK tax purposes and is therefore exempt from Corporation Tax on its income and gains provided that these are used for charitable purposes only.

20

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

14 Tangible fixed assets

Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
Disposals
At 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020
15 Investments
Listed investments		 Freehold
Office
Computer
property
equipment
equipment
Total
£
£
£
£
238,107
10,402
3,907
252,416
-
-
-
-
-
-
(748)
(748)
238,107
10,402
3,159
251,668
-
5,671
3,131
8,802
-
1,565
169
1,734
-
-
(748)
(748)
-
7,236
2,552
9,788
238,107
3,166
607
241,880
238,107
4,731
776
243,614

All such investments are listed in the UK. The purpose of the investments is to provide a mixture of capital growth and income. The investments are held by Charles Stanley through their Personal Portfolio Service.

Market value brought forward
Acquisitions at cost
Sale proceeds from disposals
Investment management fees
Movement of cash held for investment
Gains/(losses) in the year
Market value carried forward
Represented by:
Fixed income
UK equity
International equity
Property
Alternatives & mixed investments
Cash
Historical cost		 2021
2020
£
£
73,010
75,775
-
82,255
-
(81,512)
(414)
(1,115)
-
(743)
11,701
(1,650)
84,297
73,010
£
£
40,995
35,906
3,124
2,627
31,889
26,972
3,366
2,888
3,178
2,786
1,745
1,831
84,297
73,010
79,957
80,372

21

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

15 Investments (continued)

Unlisted investments

Unlisted investments are all stated at cost less allowance for impairment.

The shares held are in a private limited company registered in England, whose principal activity is property investment with a mixed portfolio. The Trustees intend to sell these shares within 12 months of the balance sheet date and have reclassified them as current assets in this year's financial statements.

Cost and net book value brought forward
Sale proceeds from disposals
Sale amount agreed but received after the year end
Gains in the year
Cost and net book value carried forward
Total fixed asset investments
Listed investments
Unlisted investments
Total current asset investments
Unlisted investments
16 Debtors
Prepayments
Accrued income
Other debtors
17 Creditors: Amounts falling due in less than one year
Accruals and deferred income
Taxation and social security
Other creditors		 2021
2020
£
£
38,358
38,358
(9,180)
-
(9,330)
-
510
-
20,358
38,358
£
£
84,297
73,010
-
38,358
84,297
111,368
20,358
-
2021
2020
£
£
1,916
1,881
62,135
38,220
9,330
-
73,381
40,101
2021
2020
£
£
4,704
3,761
3,132
3,054
216
-
8,052
6,815

22

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

18 Movement in funds

Restricted funds
Church planting & development
Compassion projects
Evangelism
Unrestricted funds
Designated - Fixed assets
Designated - WinterHelp
Designated - Partner support
Designated - New ministries
Free reserves
Total funds		 1 April
Income
Expenditure
31 March
2020
and gains
and losses
Transfers
2021
£
£
£
£
£
40,714
154,590
(163,525)
4,185
35,964
90,430
253,788
(243,466)
8,198
108,950
8,750
6,622
(5,627)
107
9,852
139,894
415,000
(412,618)
12,490
154,766
243,614
65
(1,734)
(65)
241,880
1,000
-
(1,000)
-
-
81,010
-
(18,672)
60,032
122,370
-
-
-
77,703
77,703
276,871
207,295
(144,706)
(150,160)
189,300
602,495
207,360
(166,112)
(12,490)
631,253
742,389
622,360
(578,730)
-
786,019

Transfers:

Just under 30 percent of expenditure on raising funds for restricted projects has been met by a transfer of £12,490 from free reserves. This ensures the project recipients receive as much as possible of the amount donated and no more than 15 percent of any restricted donation goes towards support costs, as publicised.

Description and purpose of designated funds:

Designated - Fixed assets

The fixed assets designated fund represents the net book value of tangible fixed assets held by the charity. Disposal gains are shown under the income and gains heading and expenditure and losses represents the depreciation charge for the year, along with disposal losses. Transfers represent additions and any proceeds from disposals during the year.

Designated - WinterHelp

These funds are designated for use as part of the annual WinterHelp initiative, which helps our partners care for their communities during the harsh winter months, and were spent as grant expenditure during the year.

Designated - Partner support

The partner support designated fund is being used in delivering our strategy related to partners and our UK ministry. It allows us to meet any needs that might arise within our partners' communities, support our partners in any projects they may intend to run and help us raise funds to these ends. Spent as a mixture of grants to partners, new project development, and growing our UK support base, it is anticipated this fund will have been fully spent by the end of March 2024.

Designated - New ministries

These funds are designated for use to engage current and new connections looking to develop ministries in the area of human trafficking, refugee work, environmental issues, domestic violence or other new types of ministry over the next 3-4 years, it is anticipated this fund will have been fully spent by the end of March 2025.

_________________ 23

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

18 Movement in funds (continued)

Description and purpose of restricted funds:

The income funds of the charity include restricted funds comprising unexpended balances of donations and grants amounting to £154,766 held on trust and to be applied for specific purposes. These restricted funds are the result of the charity inviting donations or gifts for a particular project or situation. Some of these may be short term in nature but others will represent a longer-term relationship with a particular partner or project.

The table on the previous page summarises the movement of restricted funds into three broad categories, details of specific restricted funds, identified as having income greater than £10,000, are as follows:

1 April Income Expenditure 31 March
2020 and gains and losses Transfers 2021
Restricted funds with £ £ £ £ £
income greater than £10,000
CASA Grace 35,233 69,773 (64,290) - 40,716
CASA Grace - Key worker - 11,000 (11,000) - -
Beginning of Life, Moldova - 10,995 (10,782) - 213
Crisis Appeal Fund 13,689 32,841 (36,824) - 9,706
Kuranjis 150 10,275 (10,425) - -
Harvest for the Hungry 14,215 50,541 (41,591) - 23,165
ISTL, Albania - 30,462 (30,462) - -
Kucove church building - 11,448 (24,181) 12,733 -
N. Macedonia key workers 5,673 11,000 (8,775) - 7,898
Open Heaven, Romania - 18,868 (15,223) - 3,645
WinterHelp 9,186 25,747 (24,231) - 10,702

CASA Grace

This fund represents grants and donations given in support of the CASA Grace Foundation, a community project in Romania.

CASA Grace - Key worker

This fund was the result of a gift to support a key worker at the CASA Grace Foundation.

Beginning of Life, Moldova

This fund represents grants and donations given in support of Beginning of Life, whose aim is to prevent sexual exploitation, abuse or trafficking and who provide education and support programmes in Moldova.

Crisis Appeal Fund

An appeal is sometimes made when significant circumstances place our partners or their communities in need, often as a result of natural disasters, with the Covid-19 pandemic being the focus of this year. This fund arises from such appeals which enable grant funding to meet those needs.

Kuranjis

This fund represents donations given to support the ministry of the Kuranjis, key Christian leaders in Serbia.

Harvest for the Hungry

An annual appeal is made by the charity to raise funds to feed the hungry in Europe, enabing partners to buy food parcels that are distributed to the needy in their community. This fund arises from that appeal.

ISTL, Albania

This fund represents grant funding and donations made in support of the ongoing work of ISTL in Albania.

24

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

18 Movement in funds (continued)

Kucove church Building

This fund arose from a grant provided to enable the purchase of a church building in Kucove, Albania. A transfer of funds from a previous year, donated for a church building project in Bulgaria which the donor agreed could be used in Albania instead, was added to the fund.

N. Macedonia key workers

This fund represents grants and donations given in support of church planting efforts in N. Macedonia; to support the pastors carrying out that work.

Open Heaven, Romania

This fund represents grants and donations given to support the evangelical work of Open Heaven, a ministry based in the Constanta region of Romania.

WinterHelp

This fund arises from an annual appeal to help meet the specific needs of partners and their communities over wintertime, supplementing funds raised through our gift catalogue.

Prior year movements

Restricted funds
Church planting & development
Compassion projects
Evangelism
Unrestricted funds
Designated - Fixed assets
Designated - WinterHelp
Designated - Partner support
Free reserves
Total funds		 1 April
Income
Expenditure
31 March
2019
and gains
and losses
Transfers
2020
£
£
£
£
£
56,015
152,670
(182,371)
14,400
40,714
90,045
162,784
(178,434)
16,035
90,430
4,850
24,811
(23,015)
2,104
8,750
150,910
340,265
(383,820)
32,539
139,894
424,652
120,501
(1,686)
(299,853)
243,614
-
-
-
1,000
1,000
-
-
(17,990)
99,000
81,010
127,448
149,603
(167,494)
167,314
276,871
552,100
270,104
(187,170)
(32,539)
602,495
703,010
610,369
(570,990)
-
742,389

25

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

19 Analysis of net assets between funds

Current year
Restricted funds
Church planting & development
Compassion projects
Evangelism
Unrestricted funds
Designated - Fixed assets
Designated - Partner support
Designated - New ministries
Free reserves
Total funds
Prior year
Restricted funds
Church planting & development
Compassion projects
Evangelism
Unrestricted funds
Designated - Fixed assets
Designated - WinterHelp
Designated - Partner support
Free reserves
Total funds		 Tangible
Fixed asset
Other net
Total
fixed assets
investments
assets
2021
£
£
£
£
-
-
35,964
35,964
-
-
108,950
108,950
-
-
9,852
9,852
-
-
154,766
154,766
241,880
-
-
241,880
-
-
122,370
122,370
-
-
77,703
77,703
-
84,297
105,003
189,300
241,880
84,297
305,076
631,253
241,880
84,297
459,842
786,019
Tangible
Fixed asset
Other net
Total
fixed assets
investments
assets
2020
£
£
£
£
-
-
40,714
40,714
-
-
90,430
90,430
-
-
8,750
8,750
-
-
139,894
139,894
243,614
-
-
243,614
-
-
1,000
1,000
-
-
81,010
81,010
-
111,368
165,503
276,871
243,614
111,368
247,513
602,495
243,614
111,368
387,407
742,389

26

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

20 Prior year fund comparatives for the Statement of Financial Activities

Unrestricted Restricted Total funds
funds funds 2020
£ £ £
Income from:
Donations and legacies 143,387 340,050 483,437
Charitable activites 2,835 215 3,050
Investments 3,381 - 3,381
Other: Fixed asset disposal gain 120,501 - 120,501
Total income 270,104 340,265 610,369
Expenditure on:
Raising funds 78,616 65,808 144,424
Charitable activities 106,904 318,012 424,916
Total expenditure 185,520 383,820 569,340
Net losses on investments (1,650) - (1,650)
Net income/(expenditure) 82,934 (43,555) 39,379
Transfers (32,539) 32,539 -
Net movement in funds 50,395 (11,016) 39,379
Reconciliation of funds:
Total funds brought forward 552,100 150,910 703,010
Total funds carried forward 602,495 139,894 742,389

27

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

21 Reconciliation of the Statement of Financial Activities

Statement of
Financial
Activities
£
A1 Income from donations and legacies
607,738
Increase in accrued income
A2 Income from charitable activities
98
A3 Income from other
65
Fixed asset disposal gain eliminated
(65)
B1 Costs of raising funds
(90,546)
Investment management fees eliminated
414
Increase in prepayments
Decrease in accruals
Increase in other creditors
B2 Costs of charitable activities
(488,184)
Depreciation eliminated
1,734
Increase in prepayments
Increase in accruals
Increase in other creditors
C1 Dividends and interest from investments
2,248
22 Analysis of changes in cash and cash equivalents
2021
£
Cash in hand
374,155
Total cash and cash equivalents
374,155
2020
£
Cash in hand
354,121
Total cash and cash equivalents
354,121
Balance sheet movements		 Statement of
Financial
Activities
£
A1 Income from donations and legacies
607,738
Increase in accrued income
A2 Income from charitable activities
98
A3 Income from other
65
Fixed asset disposal gain eliminated
(65)
B1 Costs of raising funds
(90,546)
Investment management fees eliminated
414
Increase in prepayments
Decrease in accruals
Increase in other creditors
B2 Costs of charitable activities
(488,184)
Depreciation eliminated
1,734
Increase in prepayments
Increase in accruals
Increase in other creditors
C1 Dividends and interest from investments
2,248
22 Analysis of changes in cash and cash equivalents
2021
£
Cash in hand
374,155
Total cash and cash equivalents
374,155
2020
£
Cash in hand
354,121
Total cash and cash equivalents
354,121
Balance sheet movements		 Debtors
Creditors
Cash flow
£
£
£
(23,915)
583,823
98
-
(15)
(11)
122
(90,036)
(20)
954
172
(485,344)
2,248
(23,950)
1,237
2020
Change
£
£
354,121
20,034
354,121
20,034
2019
Change
£
£
138,651
215,470
138,651
215,470
374,155
2020
£
354,121
354,121

23 Company limited by guarantee

The charity is a company limited by guarantee having no share capital and, in accordance with the Articles of Association, every member is liable to contribute £1 towards the costs of dissolution and the liabilities incurred by the charity in the event of the company being wound up.

28

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

24 Prior year comparatives for notes to the financial statements

Income from donations and legacies for the year ended 31 March 2020

Unrestricted Restricted Total funds
funds funds 2020
£ £ £
Donations from individuals 104,943 107,815 212,758
Donations from trustees and related parties 1,703 7,897 9,600
Donations from churches and organisations 12,135 74,008 86,143
Legacies 8,571 - 8,571
Grants receivable for:
CASA Grace - 55,000 55,000
ISTL, Albania - 30,000 30,000
N. Macedonia key workers - 15,000 15,000
Beginning of Life, Moldova - 3,750 3,750
Building project, N. Macedonia - 20,365 20,365
Grants receivable for other activities 16,035 26,215 42,250
143,387 340,050 483,437
Income from charitable activities for the year ended 31 March 2020
Unrestricted Restricted Total funds
funds funds 2020
£ £ £
Supporter Conference 1,622 - 1,622
Other income from charitable activities 1,213 215 1,428
2,835 215 3,050
Income from investments for the year ended 31 March 2020
Unrestricted Restricted Total funds
funds funds 2020
£ £ £
Interest and dividends 3,381 - 3,381
3,381 - 3,381

29

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

24 Prior year comparatives for notes to the financial statements

Expenditure on raising funds for the year ended 31 March 2020

Unrestricted Restricted Total funds
funds funds 2020
£ £ £
Fundraising materials (print & online):
Design, publish, print & postage 6,082 4,479 10,561
Developing Mission - Raising the profile of TEN 7,840 - 7,840
Staff costs 18,971 25,675 44,646
Events 613 - 613
Investment management fees 1,115 - 1,115
Allocated support costs 43,995 35,654 79,649
78,616 65,808 144,424

Expenditure on charitable activities for the year ended 31 March 2020

Church planting & development
Compassion projects
Evangelism
Developing Mission
Church planting & development
Compassion projects
Evangelism		 £
175,941
132,264
18,877
-
Grants		 Total
2020
£
£
£
14,894
28,731
219,566
13,240
21,604
167,108
2,175
3,118
24,170
12,175
1,897
14,072
Other
direct
costs
Support
costs
327,082 42,484
55,350
424,916
Grants to
Grants to
Total
institutions
individuals
2020
£
£
£
173,146
2,795
175,941
132,264
-
132,264
18,877
-
18,877
324,287
2,795
327,082

30

EUROVANGELISM

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

24 Prior year comparatives for the notes to the financial statements (continued)

Support costs for the year ended 31 March 2020

Staff costs
Central operating costs
TEN UK conference
Governance costs
Cost of fixed asset disposal		 Raising
Charitable
Total
funds
activities
2020
£
£
£
51,141
35,539
86,680
17,029
11,834
28,863
6,855
4,764
11,619
1,564
1,086
2,650
3,060
2,127
5,187
79,649
55,350
134,999

31