2020-12-31-accounts

		Page
ReferenceandAdministrativeDetails		1
ReportoftheTrustees		**2toi **
ReportoftheIndependentAuditors		710	:
StatementofFinancialActivities		10
BalanceSheet	.	11
CashFlowStatement		12
NotestotheCashFlow Statement		13
NotestotheFinancialStatements		14to

				2020	2019
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	£	£	£	£
INCOMEANDENDOWMENTSFROM
Donationsandlegacies	2	1,938,961	23,588	1,982,549	3,118,980
Investmentincome	3	990,740	17,785	1,008,525	1,099,515
Otherincome		2,589		2,599	5,873
Total		2,932,300	41,373	2,973,873	4,224,388
EXPENDITUREON
Raisingfunds	4	160,043	9,227	189,270	183,518
Charitableactivities	5
Pastoralactivities		3,313,793	.	3,313,793	2,959,815
Total		3,473,836	9,227	3,483,063	3,143,331
Netgainsoninvestments		1,668,301	37,130	1,705,431	4,892,781
NETINCOME		1,126,765	89,276	1,196,041	5,973,818
Transfers betweenfunds	18	59,782	(59,762)	-	-
Netmovementinfunds		1,186,527	9,514	1,196,041	5,973,818
RECONCILIATIONOFFUNDS
Totalfundsbroughtforward	48,553,166		758,589	49,311,755	43,337,937
TOTALFUNDSCARRIEDFORWARD	49,739,693		788,103	50,507,796	49,311,755

		2020	2019
	Notes	£	£
FIXEDASSETS
Tangibleassets	12	4,986,344	4.985.608
Investments
Investments	13	40,030,332	36,959,676
Investmentproperty	14	2,480,000	2,480,000
		47,505,676	44,425,284
CURRENT ASSETS
Debtors	15	336,260	523,783
Cashatbankaridinhand		3,778,746	5,386,092
		4,115,006	5,909,875
CREDITORS
Amountsfallingduewithinoneyear	16	(1.112.886)	(1,023,404)
NETCURRENTASSETS		3,002,120	4,886.471
TOTALASSETSLESSCURRENT
LIABILITIES		50,507,796	49,311,755
NETASSETS		50,507,796	49,311,755
FUNDS	18
Unrestrictedfunds		49.739,693	48,553,166
Restrictedfunds		768.103	758,589
TOTALFUNDS		50.5C7.796	49,311,755

		2020	2019
	Notes	£	£
Cashflowsfromoperatingactivities
Cashgeneratedfromoperations	1	(1,218,872)	173,111
Interestpaid		(6,498)	(8,727)
Netcash(usedin)/providedby operatingactivities		(1,225,370)	188,384
Cashflows frominvestingactivities
Purchaseoftangiblefixedassets		(14,249)
Purchaseoffixedassetinvestments		(9,344,816)	(9,367,260)
Saleoffixedassetinvestments		8,005,079	8,828,774
Interestreceived		3,107	14,238
Dividendsreceived		968,903	1,044,077
Netcashusedininvestingactivities		(381,978)	(1,482,171)
Changeincashandcashequivalents
inthereporting period		(1,607,346)	(1,315,787)
Cashandcashequivalentsatthe
beginningofthereportingperiod		5,386,092	8,701,879
Cashandcashequivalentsattheend
ofthereportingperiod		3,778,748	5,388,092

1.	RECONCILIATIONOFNETINCOMETONETCASHFLOWFROM	OPERATING ACTIVITIES	OPERATING ACTIVITIES
		2020	2019
		£	£
	NetIncomeforthereportingperiod(aspertheStatementof
	FinancialActivities)	1,136,041	5,973,818
	Adjustmentsfor;
	Depreciationcharges	13,513	9,952
	Gainoninvestments	(1,739,913)	(4,892,781)
	Interestreceived	(3.107)	(14,238)
	Interestpaid	6,498	8,727
	Dividendsreceived	(968903)	(1,044,077)
	Decreaseindebtors	187,523	227,710
	lncrease/(decrease)increditors	89,482	(94,000)
	Netcash(usedin)/providedbyoperations	(1,218,872)	173,111

ANALYSISOFCHANGESINNETFUNDS
	At1.1.20	Cashflow	At31,12,20
	£	£	£
Netcash
Cashatbankandinhand	5,386,092	(1,607,346)	3,778,746
	5,388,092	(1,607.346)	3,778,746
Total	5,388,092	(1,607.346)	3,778,746

DONATIONSANDLEGACIES
	2020	2019
	£	£
Donations	575.704	1,031,827
Legacies	163,493	317,073
Salaries,stipends&pensions	1.497	8,319
Massessaid	9,765	9,340
Contributionsfromoverseas	1,212.090	1,754,421
	1,962,549	3,118,980

INVESTMENTINCOME
	2020	2019
	£	£
Rentsreceived	36515	41,200
Dividends	988,903	1,044,077
Depositaccountinterest	3,107	14,238
	1,008,525	1,099,515

Raisingdonationsandlegacies
			2020	2019
			£	£
Fundraisingcosts			4,194	4,842
Investmentmanagementcosts
			2020	2019
			£	£
Portfoliomanagement			165,076	178,874
Aggregateamounts			169,270	183,518
CHARITABLEACTIVITIESCOSTS
		Grant
		fundingof
		activities	Support
	Direct	(seenote	costs(see
	Costs	8)	note7)	Totals
	£	£	£	£
Pastoralactivities	464,391	2,636,423	212,979	3,313,793
GRANTSPAYABLE
			2020	2019
			£	£
Pastoralactivities			2,636,423	2,278,723
Thetotalgrantspaidtoinstitutionsduringtheyearwasasfollows:
			2020	2019
			£	£
Missionfund			607,499	1,038,477
Missionssupport			827,450	482,024
NewRegionsSupport			51,653	88,988
AsianandAfricanCandidates			864,712	501,495
Renewalcoursesandfurthereducation			124,816	62,861
Donations			88,953	142,878
			2,565,083	2,276,723

SUPPORTCOSTS
		Management
		£
Pastoralactivities		212,979
Supportcosts,includedintheabove,areasfollows:
	2020	2019
	Pastoral	Total
	activities	activities
	£	£
Wages	60,923	81,122
Socialsecurity	2,553	(8,800)
Pensions	2809	964
Professionalfees	127,597	24,379
Auditfee	12,600	11,780
Accountancyandadvice	6,497	909
	212.979	90,334
NETINCOME/(EXPENDITURE)
Netincome/(expertditure)isstatedaftercharging/(crediting):
	2020	2019
	£	£
Depreciation-ownedassets	13,513	9,952
Auditorsremuneration	12,600	11,780

10,	STAFFCOSTS
			2020	2019
			£	£
	Wagesandsalaries		60,923	81,122
	Socialsecuritycosts		2,553	(8,800)
	Otherpensioncosts		2,809	964
			66,285	53,286
	Theaveragemonthlynumberofemployeesduringtheyear	wasasfollows:
			2020	2019
	Administrativestaff		2	2
	Noemployeesreceivedemolumentsinexcessof£80,000,
11,	COMPARATIVESFORTHESTATEMENTOFFINANCIALACTIVITIES
		Unrestricted	Restricted	Total
		funds	funds	funds
		£	£	£
	INCOMEANDENDOWMENTSFROM
	Donationsandlegacies	3,092,167	28,813	3,118,980
	Investmentincome	1,079,998	19,517	1,099,515
	Otherincome	5,873		5,873
	Total	4,178,038	48,330	4,224,368
	EXPENDITUREON
	Raisingfunds	184,481	19,035	183,518
	Charitableactivities
	Pastoralactivities	2,959,815	-	2,959,815
	Total	3,124,298	19,035	3,143,331
	Netgainsoninvestments	4,822,655	70,128	4,892,781
	NETINCOME	5,878,397	97,421	5,973,818
	RECONCILIATIONOFFUNDS
	Totalfundsbroughtforward	42,878,769	881,188	43,337,937
	TOTALFUNDSCARRIEDFORWARD	48,553,186	758,589	49,311,755

12,	TANGIBLEFIXEDASSETS
		Freehold	Motor
		property	vehicles	Totals
		£	£	£
	COST
	At1January2020	4,974,21?	28,458	5,002,875
	Additions		14.249	14,249
	At31December2020	4,974,217	42,707	5,018,924
	DEPRECIATION
	At1January2020		17,06?	17,087
	Chargeforyear		13,513	13,813
	At31December2020		30,580	30,580
	NETBOOKVALUE
	At31December2020	4,974,21?	12,127	4,988,344
	At31December2019	4,974,217	11,391	4,985,808
13.	FIXEDASSETINVESTMENTS
		Listed	Unlisted
		investments	investments	Totals
		£	£	£
	MARKETVALUE
	At1January2020	36,823,408	138,270	38,959,676
	Additions	9,344,816		9,344,818
	Disposals	(3,005,079)		(8,005,079)
	Revaluations	1,739,919		1,733,919
	At31December2020	39,903,062	138,270	40,038,332
	NETBOOKVALUE
	At31December2020	39,903,082	138,270	40,039,332
	At31December2019	36,823,408	138,270	36,959,876

INVESTMENTPROPERTY	£
FAIRVALUE
At1January2020
and31December2020	2,480,000
NETBOOKVALUE
At31December2020	2,480,000
At31December2019	2,480,000

DEBTORS:AMOUNTSFALLINGDUEWITHINONEYEAR
	2020	2019
	£	£
Otherdebtors	329,156	518,551
Taxationrecoverable	7,104	5,232
	338,280	523,783
CREDITORS;AMOUNTSFALLINGDUEWITHINONEYEAR
	2020	2019
	£	£
HeldforMissions	9??,758	886,584
Socialsecurityandother taxes	1,553	-
Othercreditors	94,447	100,709
Accruedexpenses	39,130	38,111
	1,112,886	1,023,404

ANALYSISOFNETASSETS	BETWEENFUNDS
			2020	2019
	Unrestricted	Restricted	Total	Total
	funds	funds	funds	funds
	£	£	£	£
Fixedassets	4,986,344		4,986,344	4,985,808
Investments	41,879,978	639,354	42,519,332	39,439,878
Currentassets	3,986,257	128,749	4,115,006	5,909,875
Currentliabilities	(1,112,88S)		(1,112,886)	(1,023,404)
	49,739,693	768,103	50,507,796	49,311,755

MOVEMENTINFUNDS
		Net	Transfers
		movement	between	At
	At1.1,20	infunds	funds	31,12.20
	£	£	£	£
Unrestrictedfunds
Generalfund	48,553,166	1,126,785	59,762	49,739,693
Restrictedfunds
Fenttravel	95,932	17,588		113,520
Wardmemorial	10,389			10,389
Newmembersretirement	652,288	51,888	(59,762)	644,194
	758,589	69,276	(59,762)	768,103
TOTALFUNDS	49,311,755	1,196,041		50,507,796

	Incoming	Resources	Gainsand	Movement
	resources	expended	losses	infunds
	£	£	£	£
Unrestrictedfunds
Generalfund	2,932,300	(3,473,836)	1,668.301	1,126,765
Restrictedfunds
Fenttravel	23,588	(6,000)		17,588
Newmembersretirement	17,785	(3,227)	37,130	51,688
	41,373	(9,227)	37,130	69,276
TOTALFUNDS	2,973,673	(3,483,063)	1,705,431	1,196,041

		Net	Transfers
		movement	between	At
	At1.1.19	infunds	funds	31.12.19
	£	£	£	£
Unrestrictedfunds
Generalfund	24,308,183	4,048,924	20,198,079	48,553,188
Capitalfund	4,995,580	(9,952)	(4,985,808)	.
African/Asiancandidates	4,501,259	895,434	(5,198,893)	_
Newregions	7,504,880	955,887	(8,460,747)	-
Mission	1,388,907	188,124	(1,553,031)	-
	42,878,789	5,876,397		48.553,188
Restrictedfunds
Fenttravel	85,120	10,813	.	95,933
Wardmemorial	10,389		_	10,389
Newmembersretirement	585,859	88,808	-	852,287
	881,188	97,421	-	758,589
TOTALFUNDS	43,337,937	5,973,818	.	49,311,755

	Incoming	Resources	Gainsand	Movement
	resources	expended	losses	infunds
	£	£	£	£
Unrestrictedfunds
Generalfund	3,280,720	(2,870,780)	3,438,984	4,048,924
Capitalfund	-	(9,952)	-	(9,952)
African/Asiancandidates	147,019	(21,682)	570,097	895,434
Newregions	195,818	(53,545)	813,594	955,887
Mission	554,481	(388,357)	-	188,124
	4,178,038	(3,124,298)	4,822,855	5,878,397
Restrictedfunds
Fenttravel	26,813	(16,000)	-	10,813
Newmembersretirement	19,517	(3,035)	70,128	86,808
	48,330	(19,035)	70,126	97,421
TOTALFUNDS	4,224,388	(3,143,331)	4,892,781	5,973,818