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|||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|
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||||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|
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|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|
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|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|
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|||||||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|
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|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|
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|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|
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|||||||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|
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|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|
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