REGISTERED COMPANY NUMBER: 07780681 (England and Wales) REGISTERED CHARITY NUMBER: 1147429
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2020
for
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Garside and Co. Limited Suite 631, Linen Hall 162-168 Regent Street London W1B 5TG
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 16 |
| Detailed Statement of Financial Activities | 17 | to | 18 |
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Reference and Administrative Details for the Year Ended 31 December 2020
TRUSTEES G A Brisk C D Fishlock R P Tett T J C Evans A N M Wales T C W Wright (appointed 29.1.2020) COMPANY SECRETARY M Williams REGISTERED OFFICE 114 Queen Victoria Street London EC4V 4BJ REGISTERED COMPANY 07780681 (England and Wales) NUMBER
REGISTERED CHARITY NUMBER 1147429
INDEPENDENT EXAMINER Garside and Co. Limited Suite 631, Linen Hall 162-168 Regent Street London W1B 5TG BANKERS Reliance Bank Limited Faith House 23-24 Lovat Lane London EC3R 8EB
Page 1
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited (Registered number: 07780681)
Report of the Trustees
for the Year Ended 31 December 2020
The trustees of The St Nicholas Cole Abbey Centre for Workplace Ministry Limited (SNCA), who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)': (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives
The objects of SNCA are to advance the Christian faith for the benefit of the public, through:
-
Ministry of an evangelistic and teaching nature to the local working community
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Supporting other similar ministries by providing facilities for staff
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Providing facilities that enable small group and one-to-one meetings, and other occasional events
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Ensuring that our primary facility is fit for purpose
Activities
During the financial review period, SNCA has conducted the following principal activities:
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Provision of oversight to the ministries of St Nick's Church (SNC), Fleet Street Talks (FST), London Bridge Talks (LBT), and St Nick's Talks (SNT)
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Weekly lunchtime Bible talks on Tuesdays, Wednesdays, and Thursdays, facilitated by LBT, FST, and SNT respectively
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Weekly Sunday morning services run by SNC
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Weekly morning Bible studies for local Christian workers on Tuesdays
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Weekly small group Bible studies on Wednesday evenings
• Termly Word Ministry Training courses specifically for people involved in SNC, through which individuals are trained and equipped to understand the Bible better for themselves and to teach it to others in a variety of contexts.
• Participation in Questions for Life, an evangelistic mission fortnight in late March with events in workplaces and churches across central London.
• Participation in the City-wide Workplace Ministry Co-ordinator programme, which seeks to equip and encourage Christians in the workplace to co-ordinate evangelistic initiatives with their colleagues.
- Occasional evening evangelistic events aimed at people who are investigating the Christian faith.
• Christianity Explored courses run at various points in the year for people to investigate the Christian faith and the claims of Jesus.
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A significant number of people participating in one-to-one Bible studies and discipleship.
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One weekend in person and two weekends online of Bible teaching, prayer, and fellowship for people involved in SNC
-
and/or Wednesday evening small groups.
Public benefit
The trustees have considered the Charity Commissioners' Guidance on Public Benefit and, in particular, the specific guidance on Charities for the Advancement of Religion and are satisfied that the activities of SNCA fall within such guidance.
Safeguarding
The trustees have complied with the duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 in relation to having due regard to the House of Bishop's guidance on safeguarding children and vulnerable adults.
ACHIEVEMENT AND PERFORMANCE
The trustees consider that the main achievement of SNCA in the financial period has been the public proclamation of the gospel through services conducted by the ministries of SNC, FST, LBT, and SNT, as well as through Bible studies, one-to-one ministry, and other events.
Page 2
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited (Registered number: 07780681)
Report of the Trustees
for the Year Ended 31 December 2020
FINANCIAL REVIEW
Financial position
In the financial year to 31 December 2020, SNCA's total income was £482,782 (2019 - £454,106). The income comprised donations and gifts of £436,397 (2019 - £401,563) and other activities of £46,385 (2019 - £52,543). SNCA's total expenditure in the period was £501,552 (2019 - £478,535), including the £28,992 loan written off due from Distaff Lane Coffee Limited, resulting in a net expenditure for the year following this adjustment of £18,770 (2019 - £24,429). Total staff costs were £163,824 (2019 - £136,485), being 35% of total expenditure (2019 - 29%).
Reserves
As at 31 December 2020, SNCA had cash at bank and in hand of £120,255 (2019 - £98,507), representing 25% (2019 - 21%) of total expenditure.
FUTURE DEVELOPMENTS
We were planning to start a new lunchtime ministry in the Victoria area in September 2020. However, due to the pandemic, this has started as a small prayer meeting online, with the hope of a new physical ministry starting in Victoria in September 2021.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document and nature of entity
SNCA is governed by its memorandum and articles of association. SNCA is a company limited by guarantee as defined by the Companies Act 2006, incorporated 20 September 2011.
Trustees
SNCA's articles of association appoints the trustees to manage the affairs of SNCA and to exercise all the powers of SNCA. In considering the appointment of new trustees, the existing trustees must have regard to the skills, knowledge, and experience needed for the effective administration of SNCA. Every trustee must subscribe and adhere in belief and lifestyle to the doctrines set out in Article 3 of the articles of association. There are no formal procedures for the induction of trustees. Trustees are provided with appropriate training when required and have regard to training recommended by the Church of England.
Trustee Meetings
The trustees meet ordinarily 3-4 times a year and on an ad hoc basis when required. Trustee meetings are chaired by the Reverend Chris Fishlock, Minister in Charge of SNCA. The trustees take appropriate decisions on the operation of SNCA. The trustees also adopt policies to comply with legislation in the areas of health and safety, child protection, and conflicts of interest.
Day to day financial matters are delegated by the trustees to SNCA's treasurer, Greg Brisk, and its finance manager, Caroline Fishlock. The trustees have oversight of financial matters, including approval of major items of expenditure and the annual budget. Day to day ministry matters are delegated to the Reverend Chris Fishlock, who reports on those matters to the trustees regularly.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 3
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited (Registered number: 07780681)
Report of the Trustees
for the Year Ended 31 December 2020
TRUSTEES' RESPONSIBILITY STATEMENT
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will
-
continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 16 June 2021 and signed on its behalf by:
T J C Evans - Trustee
Page 4
Independent Examiner's Report to the Trustees of The St Nicholas Cole Abbey Centre for Workplace Ministry Limited (Registered number: 07780681)
Independent examiner's report to the trustees of The St Nicholas Cole Abbey Centre for Workplace Ministry Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England & 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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Gareth Owen Hughes ACA Institute of Chartered Accountants in England & Wales Garside and Co. Limited Suite 631, Linen Hall 162-168 Regent Street London W1B 5TG
16 June 2021
Page 5
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Statement of Financial Activities for the Year Ended 31 December 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 436,397 Other trading activities 3 41,917 Investment income 4 1,066 Other income 5 3,402 Total 482,782 EXPENDITURE ON Raising funds 6 6,042 Charitable activities 7 Charitable Activities 461,172 Restricted Activities - Governance costs 5,346 Loan written off 28,992 Total 501,552 NET INCOME/(EXPENDITURE) (18,770) RECONCILIATION OF FUNDS Total funds brought forward 125,912 TOTAL FUNDS CARRIED FORWARD 107,142 |
Restricted fund £ - - - - - - - - - - - - 331,685 331,685 |
31.12.20 31.12.19 Total Total funds funds £ £ 436,397 401,563 41,917 51,879 1,066 664 3,402 - 482,782 454,106 6,042 19,921 461,172 420,049 - 22,348 5,346 16,217 28,992 - 501,552 478,535 (18,770) (24,429) 457,597 482,026 438,827 457,597 |
|---|---|---|
The notes form part of these financial statements
Page 6
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited (Registered number: 07780681)
Balance Sheet
31 December 2020
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 12 8,126 Investments 13 2 8,128 CURRENT ASSETS Stocks 14 5,091 Debtors 15 41,678 Cash at bank and in hand 120,255 167,024 CREDITORS Amounts falling due within one year 16 (18,010) NET CURRENT ASSETS 149,014 TOTAL ASSETS LESS CURRENT LIABILITIES 157,142 CREDITORS Amounts falling due after more than one year 17 (50,000) NET ASSETS 107,142 FUNDS 18 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 331,685 - 331,685 - - - - - - 331,685 - 331,685 |
31.12.20 Total funds £ 339,811 2 339,813 5,091 41,678 120,255 167,024 (18,010) 149,014 488,827 (50,000) 438,827 107,142 331,685 438,827 |
31.12.19 Total funds £ 362,426 2 362,428 4,812 65,196 98,507 168,515 (23,346) 145,169 507,597 (50,000) 457,597 125,912 331,685 457,597 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited (Registered number: 07780681)
Balance Sheet - continued 31 December 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 June 2021 and were signed on its behalf by:
T J C Evans - Trustee
The notes form part of these financial statements
Page 8
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Notes to the Financial Statements for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
a) Basis of preparation and assessment of going concern
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019 and the Charities Act 2011.
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited (SNCA) constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the SNCA's ability to continue as a going concern.
The financial statements include all transactions, assets and liabilities for which the SNCA is responsible in law.
b) Funds structure
Unrestricted funds represent the funds of the SNCA that are not subject to any restrictions regarding their use and are available for application on the general purposes of the SNCA.
Unrestricted funds may become designated funds where funds have been reserved for a particular purpose by the SNCA.
Restricted funds represent donations, legacies or grants received for a specific object, or invited by the SNCA for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.
The SNCA does not usually invest separately for each fund except where amounts involved are material. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.
c) Income recognition
All incoming resources are recognised when received by or on behalf of the SNCA.
All income is reported gross of any associated expenditure.
Income tax recoverable on gift aid donations is recognised when the tax is recovered.
Grants and Legacies to the SNCA are accounted for as soon as the SNCA is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the SNCA is probable.
Interest earned on bank deposit accounts is accounted for when received.
Government grants relates to the Coronavirus Job Retention Scheme (CJRS) are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
Amounts received specifically for mission are dealt with as restricted funds.
continued...
Page 9
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES - continued
Basis of preparing the financial statements
e) Current assets
Amounts owed to the SNCA at the year end in respect of fees, gift aid recoverable or other income are shown as debtors, less provision for amounts that may prove uncollectible.
f) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
g) Taxation
The charity is exempt from corporation tax on its charitable activities.
h) Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold property - in accordance with the property Fixtures and fittings - 20% on cost Computer equipment - 33.3% on cost
i) Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
j) Investments
Investments are valued at market value at 31 December. Realised and unrealised gains or losses on investments are dealt with in the Statement of Financial Activities.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
| Donations & gifts Donations in kind Donations toward catering cost |
31.12.20 £ 435,070 - 1,327 436,397 |
31.12.19 £ 394,071 2,158 5,334 |
|---|---|---|
| 401,563 |
continued...
Page 10
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
3. OTHER TRADING ACTIVITIES
| Book sales Rental income Other income-weekend away Other income-utilities contribution Other income-telecom mast 4. INVESTMENT INCOME Interest 5. OTHER INCOME Government furlough grant-CJRS 6. RAISING FUNDS Other trading activities Books purchased for resale Catering expenses Books written off 7. CHARITABLE ACTIVITIES COSTS Charitable Activities Governance costs |
Direct Costs £ 461,172 - 461,172 |
31.12.20 £ 1,704 3,682 6,962 12,288 17,281 41,917 31.12.20 £ 1,066 31.12.20 £ 3,402 31.12.20 £ 963 5,358 (279) 6,042 Support costs (see note 8) £ - 5,346 5,346 |
31.12.19 £ 1,188 6,733 12,899 14,332 16,727 51,879 31.12.19 £ 664 31.12.19 £ - 31.12.19 £ 1,569 17,557 795 19,921 Totals £ 461,172 5,346 |
|---|---|---|---|
| 466,518 |
continued...
Page 11
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
8. SUPPORT COSTS
| Governance costs |
|
|---|---|
| £ | |
| Independent examiner's fees - current year | 5,000 |
| Legal fees | - |
| Finance manager | - |
| 5,000 | |
| Bank charges | 346 |
| 5,346 | |
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 29,874 | 26,197 |
10. TRUSTEES' REMUNERATION AND BENEFITS
There were clergy accommodation costs paid for the year ended 31 December 2020 of £53,720 (2019 - £47,160).
Trustees' expenses
There were clergy expenses paid for the year ended 31 December 2020 of £66,866 (2019 - £69,661), which consisted of £59,850 paid to the London Diocesan Fund in respect of 'Off Common Fund Clergy Costs', £3,025 paid for clergy council tax, £142 for Clergy mobile fees, £1,024 for water rates, and £2,825 for Clergy relocation costs.
11. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Administrative staff Ministry staff |
31.12.20 £ 135,344 8,139 20,341 163,824 31.12.20 3 4 7 |
31.12.19 £ 114,026 7,125 15,334 |
|---|---|---|
| 136,485 | ||
| 31.12.19 1 5 6 |
No employees received emoluments in excess of £60,000.
continued...
Page 12
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
12. TANGIBLE FIXED ASSETS
| Improvements to leasehold property £ COST At 1 January 2020 510,740 Additions 2,882 At 31 December 2020 513,622 DEPRECIATION At 1 January 2020 154,497 Charge for year 25,537 At 31 December 2020 180,034 NET BOOK VALUE At 31 December 2020 333,588 At 31 December 2019 356,243 13. FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2020 and 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 |
Fixtures and fittings £ 60,020 1,756 61,776 53,837 3,464 57,301 4,475 6,183 |
Computer equipment Totals £ £ 329 571,089 2,621 7,259 2,950 578,348 329 208,663 873 29,874 1,202 238,537 1,748 339,811 - 362,426 Shares in group undertakings £ 2 2 2 |
|---|---|---|
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
Distaff Lane Coffee Limited
Registered office: In United Kingdom Nature of business: Coffee Shop
% Class of share: holding Ordinary £1 100
continued...
Page 13
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
| 14. STOCKS Book inventory 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Loan to connected company Accrued income (includes unclaimed Gift Aid) Prepayments 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals and deferred income Accrued expenses 17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Loan from Great St Helen's Trust 18. MOVEMENT IN FUNDS At 1.1.20 £ Unrestricted funds General fund 125,912 Restricted funds Restricted fund 331,685 TOTAL FUNDS 457,597 |
31.12.20 £ 5,091 31.12.20 £ 3,875 9,383 - 23,950 4,470 41,678 31.12.20 £ 7,414 3,811 6,785 18,010 31.12.20 £ 50,000 Net movement in funds £ (18,770) - (18,770) |
31.12.19 £ 4,812 31.12.19 £ 1,786 323 15,992 35,147 11,948 65,196 31.12.19 £ 16,590 - 6,756 23,346 31.12.19 £ 50,000 At 31.12.20 £ 107,142 331,685 |
|---|---|---|
| 438,827 |
continued...
Page 14
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
18. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 482,782 TOTAL FUNDS 482,782 Comparatives for movement in funds At 1.1.19 £ Unrestricted funds General fund 127,993 Restricted funds Restricted fund 354,033 TOTAL FUNDS 482,026 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 454,106 Restricted funds Restricted fund - TOTAL FUNDS 454,106 |
Resources Movement expended in funds £ £ (501,552) (18,770) (501,552) (18,770) Net movement At in funds 31.12.19 £ £ (2,081) 125,912 (22,348) 331,685 (24,429) 457,597 Resources Movement expended in funds £ £ (456,187) (2,081) (22,348) (22,348) (478,535) (24,429) |
|---|---|
Page 15
continued...
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
18. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
At 1.1.19 £ 127,993 354,033 482,026 |
Net movement in funds £ (20,851) (22,348) (43,199) |
At 31.12.20 £ 107,142 331,685 |
|---|---|---|---|
| 438,827 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Incoming resources £ 936,888 - 936,888 |
Resources Movement expended in funds £ £ (957,739) (20,851) (22,348) (22,348) (980,087) (43,199) |
Resources Movement expended in funds £ £ (957,739) (20,851) (22,348) (22,348) (980,087) (43,199) |
|---|---|---|---|
| (43,199) |
19. RELATED PARTY DISCLOSURES
Apart from transactions relating to trustees' remuneration and benefits set out in Note 9, there were no related party transactions.
Total donations made to the church by trustees during the year amounted to £123,483 (2019 - £118,173).
During the year, Distaff Lane Coffee Limited made donations in kind of coffee and cakes for 1-2-1 bible reading and staff lunches amounting to £Nil (2019 - £2,158).
Distaff Lane Coffee Limited
(A wholly-owned subsidiary of SNCA)
At the reporting date a 5% interest bearing loan balance of £28,992 (2019 - £15,992) due from Distaff Lane Coffee Limited has been written off.
Page 16
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Detailed Statement of Financial Activities for the Year Ended 31 December 2020
| Detailed Statement of Financial Activities for the Year Ended 31 December 2020 |
||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations & gifts | 435,070 | 394,071 |
| Donations in kind | - | 2,158 |
| Donations toward catering cost | 1,327 | 5,334 |
| 436,397 | 401,563 | |
| Other trading activities | ||
| Book sales | 1,704 | 1,188 |
| Rental income | 3,682 | 6,733 |
| Other income-weekend away | 6,962 | 12,899 |
| Other income-utilities contribution | 12,288 | 14,332 |
| Other income-telecom mast | 17,281 | 16,727 |
| 41,917 | 51,879 | |
| Investment income | ||
| Interest | 1,066 | 664 |
| Other income | ||
| Government furlough grant-CJRS | 3,402 | - |
| Total incoming resources | 482,782 | 454,106 |
| EXPENDITURE | ||
| Other trading activities | ||
| Books purchased for resale | 963 | 1,569 |
| Catering expenses | 5,358 | 17,557 |
| Books written off | (279) | 795 |
| 6,042 | 19,921 | |
| Charitable activities | ||
| Wages | 135,344 | 114,026 |
| Social security | 8,139 | 7,125 |
| Pensions | 20,341 | 15,334 |
| Light and heat | 9,783 | 14,001 |
| Events expenses | 7,269 | 10,918 |
| Sundries | 33 | 840 |
| Building expenses-SNCA | 6,522 | 7,011 |
| Office supplies | 334 | 1,303 |
| Insurance | 4,516 | 4,421 |
| Water and wastewater | 2,290 | 2,107 |
| Building expenses-21 Fleet St | 38,175 | 37,093 |
| Books and publications | 367 | 913 |
| Carried forward | 233,113 | 215,092 |
This page does not form part of the statutory financial statements
Page 17
The St Nicholas Cole Abbey Centre for Workplace Ministry Limited
Detailed Statement of Financial Activities for the Year Ended 31 December 2020
| Detailed Statement of Financial Activities for the Year Ended 31 December 2020 |
||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Charitable activities | ||
| Brought forward | 233,113 | 215,092 |
| Computer expenses | 5,212 | 5,092 |
| Lease rental to Diocese of London | 29,500 | 28,400 |
| Clergy accommodation costs | 53,720 | 47,160 |
| Clergy expenses | 66,866 | 69,661 |
| Staff conferences | 1,933 | 2,495 |
| Staff lunches | 4,202 | 4,285 |
| Office running costs | 5,268 | 6,474 |
| Weekend away costs | 8,720 | 16,997 |
| Ministry giving and bursaries | 22,704 | 20,427 |
| Crèche & Sunday School Resources | 60 | 117 |
| Depreciation of improvements to leasehold | ||
| property | 25,537 | 23,084 |
| Depreciation of fixtures & fittings | 3,464 | 3,113 |
| Depreciation of computer equipment | 873 | - |
| 461,172 | 442,397 | |
| Loan written off | ||
| Loan written off | 28,992 | - |
| Support costs | ||
| Finance | ||
| Bank charges | 346 | 294 |
| Governance costs | ||
| Independent examiner's fees- current year | 5,000 | 5,000 |
| Finance manager | - | 10,923 |
| 5,000 | 15,923 | |
| Total resources expended | 501,552 | 478,535 |
| Net expenditure | (18,770) | (24,429) |
This page does not form part of the statutory financial statements
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