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





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|||||**2020**|2019|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|**Total**|Total|
|||funds|funds|**funds**|funds|
||Notes|<br>£|£|**£**|£|
|**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**|





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|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|





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|**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|





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|**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|



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|**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|<br>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|





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|**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|



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|**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|





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|**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**|





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|||Net|Transfers||
|---|---|---|---|---|
|||movement|between|At|
||At**1.1.19**|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|



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