| Page | ||
|---|---|---|
| Reference and Administrative | details | 1 |
| Trustees Report | 2 | |
| Independent Auditor's Report |
7 | |
| Statement of Financial Activities | 10 | |
| Balance Sheet | 11 | |
| Statement of Cash Flows | 12 | |
| Notes on Financial Statements | 13 |
| Year | ended 31 Dec | 2o2o | Year ended 31 Dec | Year ended 31 Dec | 2019 | |||
|---|---|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Restricted | Unrestricted | Total | |||
| Funds | Funds | Funds | Funds | |||||
| Note | E | E | E | E | ||||
| Income from: | ||||||||
| Donations and legacies |
3 | 144,207 | 601,611 | ji}5,818 | 61,98S | 623,193 | 685,181 | |
| Other trading activities |
49 252 | 49,252 | 125,212 | 125,212 | ||||
| Investments | 25ioji | 25,071 | 42, S3 | 42 983 | ||||
| Total income | 144,2o7 | 675,934 | 82o,141 | 61,988 | 791i388 | 853,376 | ||
| Expenditure on: |
||||||||
| Charitable activities |
6 | 74,959 | 678,030 | 752,989 | 47,709 | 671,089 | 718,798 | |
| Total expenditure | 74,959 | 678,030 | 752i989 | 47,709 | 671,820 | 718,798 | ||
| Net gains/(losses) investments |
on | 12 | (32,481) | (32,481) | (6o,ooo) | (6o,ooo) | ||
| Net income/(expenditure) |
69,248 | (34,577) | 34,671 | 14,279 | 60,299 | 74i578 | ||
| Transfer between funds |
16 | 653 | (653) | 76o | (76o) | |||
| Net movement in funds |
69,901 | (35,23o) | 34,67i | 15,39 | 59359 | 74 578 | ||
| Reconciliation of |
||||||||
| funds | ||||||||
| Total fund brought forward |
15,039 | 3,826,935,841,974 | 3,767,396 | 3,767,396 | ||||
| Total funds carried | ||||||||
| forward | 84,940 | 3,791,7o5 | 3,876,645 | 15,039 | 3,826,935 | 3,S41, 74 |
| alance shee | t as | at 31 D | ecember 2020 | ||
|---|---|---|---|---|---|
| 31.12.2020 | 31.12.2019 | ||||
| Note | r. | E | |||
| Fixed assets | |||||
| Tangible assets | |||||
| Properties | 10 | 1,85o,ooo | 1,9507000 | ||
| Equipment and furniture |
94,978 | 67,658 | |||
| Investments | 12 | 2 | 900,002 | ||
| 894498o | 2,917,660 | ||||
| Current assets | |||||
| Stocks | 58761 | 31,242 | |||
| Debtors and prepayments |
13 | 461,835 | 3217277 | ||
| Cash at bank | and in | hand | 1,492,837 | 621,040 | |
| 1,986,433 | 9737559 | ||||
| Current liabilities | |||||
| Creditors: amounts due within one year |
falling | 54,768 | 49 245 | ||
| Net current assets | 1,931,665 | 924 314 | |||
| Net assets | 3,876,645 | 3 841 974 | |||
| Funds | |||||
| Restricted funds | i6 | 84,940 | 157039 | ||
| Unrestricted funds |
|||||
| Revaluation | reserves | i6 | |||
| Designated funds General funds |
i6 16 |
636,426 ~55, 75 |
5157510 5,5',4 5 |
||
| Totalfunds | 3,876,645 | 3,84i,974 |
| Year ended | Year ended | Year ended | ||||
|---|---|---|---|---|---|---|
| 31 Dec | 2020 | 31 Dec 2019 | ||||
| Note | 6 | |||||
| Cash utilised by operating |
activities | (i) | 38,471 | 56,6o8 | ||
| Cash flows from investing | activities | |||||
| Interest income | 25,071 | 42,983 | ||||
| Purchase oftangible fixed assets | (59 264) | (3 683) | ||||
| Purchase of investments | ||||||
| Proceeds from sale ofinvestments | 867,519 | |||||
| Cosh (used in)/from investing activities |
833,326 | 39 300 | ||||
| Increase in cash and cash |
equivalents | during the year | 871,797 | 95,9oB | ||
| Cash and cash equivalents | brought forward | 621,040 | 525n32 | |||
| Cash and cash equivalents | carried forward | 1,492,837 | 621,040 |
| Year ended | Year ended | Yearended | Yearended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 31Dec | 2020 | 31 Dec | 2019 | |||||||
| 6 | 6 | |||||||||
| Net movement in funds |
34,671 | 74,578 | ||||||||
| Add back depreciation | and impairment | charge | 131944 | 32,766 | ||||||
| Deduct investment | income shown | in investing | activities | (25,o71) | (42983) | |||||
| Deduct gains/add | back | losses | on investments | 32,481 | 6o,ooo | |||||
| (Increase)/Decrease | in | stock | (519) | (24,448) | ||||||
| (Increase)/Decrease | in | debtors | (14o,558) | (35,246) | ||||||
| (Decrease)/Increase | in | creditors | 5 523 | 8,059 | ||||||
| Net cash utilised by operating |
activities | 38,471 | 56,6o8 |
| onations and l |
egacies | ||||||
|---|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Restricted | Unrestricted | Total | ||
| Funds | Funds | 2020 | Funds | Funds | 2019 | ||
| Freewill offerings | 144,109 | 519,198 | 663,307 | 61,420 | 568,719 | 630,139 | |
| HMRC Job Retention | Scheme | 15,918 | 15,918 | ||||
| Income tax recoverable | 98 | 66,495 | 66,593 | 568 | 54i474 | 55,042 | |
| 144207 | 601,611 | 745,818 | 61,g88 | 623,193 | 685,181 |
| Restricted | Unrestricted | Total | Restricted | Unrestricted | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2020 | Funds | Funds | 2019 | ||||||
| E | |||||||||||
| Interest receivable | 649 | 649 | 1r059 | 1r059 | |||||||
| Manse rent | receivable | 24,422 | 24422 | 41 924 | 41r924 | ||||||
| 25,071 | 25,071 | 42,983 | 42,983 | ||||||||
| 5. | Other trading | activities | |||||||||
| Restricted | Unrestricted | Total | Restricted | Unrestricted | Total | ||||||
| Funds | Funds | 2020 | Funds | Funds | 2019 | ||||||
| E | E | ||||||||||
| Income from | tower | rental | 35r504 | 35r504 | 32,97S | 32,978 | |||||
| Room hire | 13r748 | 13,748 | 92,234 | 92,234 | |||||||
| 49,252 | 49,252 | 125,212 | 125,212 | ||||||||
| 6. | Expenditure | ||||||||||
| Restricted | Unrestricted | ||||||||||
| Funds | Funds | Support | Total | Total | |||||||
| Direct cost | Direct costs | Cost | 2020 | 2019 | |||||||
| E | |||||||||||
| Charitable | activities | ||||||||||
| Gifts made | 653 | 65,937 | 66,590 | 74,527 | |||||||
| Other charitable | activities | 74 306 | 225r544 | 386,549 | 686,3gg | 644,271 | |||||
| Total charitable | activities | 74r959 | 291,4S1 | 386,549 | 752,989 | 718,798 | |||||
| Gifts made | were | as follows: | |||||||||
| Gifts to | Gifts to | Total | Total | ||||||||
| Institutions | Individuals | 2020 | 2019 | ||||||||
| E | |||||||||||
| Benevolent | needs | 653 | 653 | 900 | |||||||
| Overseas missionaries | 11,000 | 11,000 | 12,000 | ||||||||
| Latin Link | 5r500 | 5r500 | 6,ooo | ||||||||
| Commission | Apostolic Trust | 27r504 | 27 504 | 36,835 | |||||||
| FISC | 6,953 | 6,953 | S,g78 | ||||||||
| Grace Church | Ghana | 2,509 | 2,509 | ||||||||
| UCCF | 1,200 | 1r200 | |||||||||
| The Gate Pregnancy | Crisis Centre | 6,ooo | 6,ooo | 6,ooo | |||||||
| Others | Sr 271 | 5r 271 | 3,814 | ||||||||
| Total gifts | 54 937 | 11,653 | 66,590 | 74,527 |
| upport C | osts | |||
|---|---|---|---|---|
| 2020 | 2019 | |||
| E | E | |||
| Staff costs | 14r},S21 | 154r740 | ||
| Premises costs | 37,308 | 62,256 | ||
| Professional | fees | 29r234 | 22,087 | |
| Depreciation | 31r944 | 32,766 | ||
| Impairments | of leasehold | property | 100,000 | |
| Auditors remuneration |
7r320 | 5,120 | ||
| Other costs | 35r922 | 58,953 | ||
| 386549 | 335r922 |
| taff costs | |||
|---|---|---|---|
| 2020 | 2019 | ||
| E | |||
| Wages and salaries | 265,539 | 245,480 | |
| Social security costs | 17,283 | 18,303 | |
| Pension costs | 13,140 | 12,243 | |
| Other employment | costs | 1,680 | 18937 |
| 297,643 | 287,963 |
| Equipment and Furniture |
||
|---|---|---|
| 31.12.2020 | 31.12.2019 | |
| E | E | |
| Cost | ||
| Brought forward | 183i755 | 180,072 |
| Additions in the year |
59,264 | 3,683 |
| Carried forward | 243,019 | 183,755 |
| Accumulated Depreciation |
||
| Brought forward | 116,097 | 83,331 |
| Charge for the year | 31 944 | 32,766 |
| Carried forward | 148,041 | 116,097 |
| Net book value | ||
| Carried forward | 94,978 | 67,658 |
| ixed Asset investments | ||
| 31.12.2070 | 31.12.2019 | |
| E | ||
| Brought forward | 900,002 | 960,002 |
| Disposal in year |
(900,000i | |
| Revaluation | 60,000 | |
| Carried forward | 00,002 | |
| Investment property |
900,000 | |
| Investment in subsidiary |
2 | |
| 2 | 900,002 |
| 31.12.2020 | 31.12.2019 | ||||||
|---|---|---|---|---|---|---|---|
| E | E | ||||||
| Amounts | falling | due | within | one | year | ||
| Other | debtors | 85,So4 | 36,335 | ||||
| Prepayments | 376,031 | 284,942 | |||||
| 461,835 | 321,277 |
| 31.12.2020 | 31.12.2019 | ||
|---|---|---|---|
| E | E | ||
| Amounts | falling due within one year | ||
| Accounts payable | 17874 | 15i521 | |
| Other creditors | 17i595 | 17,695 | |
| Accruals | '19 299 | 16,029 | |
| 54,768 | 4 i245 |
| Analysis of Net | A | ssets between | Funds | |||
|---|---|---|---|---|---|---|
| General | Designated | Restricted | Total | |||
| funds | funds | funds | 2020 | |||
| Tangible fixed assets | 1,944,978 | 1,944,978 | ||||
| Investments | 2 | 2 | ||||
| Current assets | 1,265,o67 | 636,426 | 84940 | 1,986,433 | ||
| Creditors: Amounts | falling | (54,768) | (54,768) | |||
| due within one year | ||||||
| jd55479 | 636,426 | 84,940 | 3,876,645 | |||
| 2019Comparative | Analysis of | Net Assets between | Funds |
| General | Designated | Restricted | Tota I |
||
|---|---|---|---|---|---|
| Funds | funds | Funds | 2019 | ||
| E | |||||
| Tangible fixed assets | 2(017(658 | 2,017,658 | |||
| Investments | 900,002 | 900,002 | |||
| Current assets | 443&010 | 515r510 | 15i039 | 973i559 | |
| Creditors: Amounts | falling due within | ||||
| one year | 49 245 | 49 245) | |||
| 3 311425 | 515i510 | 15,o39 | 3,841,974 | ||
| 16.Movement | in Funds |
| 16.Move | m | ent in Funds |
|||||
|---|---|---|---|---|---|---|---|
| Balance at | Income | Expenditure | Transfers | Balance at | |||
| 31.12.2019 | and gains | 31.17.2020 | |||||
| E | |||||||
| Unrestricted | funds | ||||||
| Designated | funds | ||||||
| Missions | fund | 97i074 | 97&074 | ||||
| Building fund | 418,436 | 120,916 | 539i352 | ||||
| 515,510 | 120,916 | 636,426 | |||||
| Undesignated | funds | ||||||
| General fund | ji311i425 | 522,539 | (645,551) | (33,134) | 3,155,279 | ||
| Revaluation | reserve | 32,481 | 32,481 | ||||
| 3,826,935 | 643,455 | (678,032) | (653) | 3,791,7o5 | |||
| Restricted funds | |||||||
| Benevolent | fund | (653) | 653 | ||||
| Food bank | 15039 | 134,436 | (70,636) | 78,839 | |||
| Debt centre | 2 | (2) | |||||
| Walthamstow | 6,1o1 | 6,1o1 | |||||
| Special appeals | 3,668 | 3,668 | |||||
| 15039 | 144 207 | 7'I 959) | 653 | 84,94o | |||
| Total funds | 3,841,974 | 787,662 | (752,991) | 3,876,645 |
| Balance at | Income | Expenditure | Transfers | Balance at | ||
|---|---|---|---|---|---|---|
| 31.12.2018 | and gains | 31.12.2019 | ||||
| E | E | E | ||||
| Unrestricted | funds | |||||
| Designated | funds | |||||
| Missions | fund | 97 074 | (73 627) | 73,627 | 97i074 | |
| Building fund | 303,208 | 115,228 | 418,436 | |||
| 400,282 | 115,228 | (73 627) | 73,627 | 515,510 | ||
| Undesignated funds |
||||||
| General fund | 3,367,114 | 616,160 | (537,462) | (134387) | 3r319425 | |
| Revaluation reserve |
6o,ooo | 60,000 | ||||
| 3,767,396 | 731,388 | (671,089) | (760) | 3,826,935 | ||
| Restricted funds | ||||||
| Benevolent | fund | 140 | (900) | 76o | ||
| Food bank | 61,68o | (46,641) | 15039 | |||
| Debt centre | ||||||
| Special appeals | 168 | 168 | ||||
| 61,988 | 47i709 | 76o | 15039 | |||
| Total funds | 3,767,396 | 793,376 | 718,798 | 3,841,974 |