OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Company Registration No. 08293624 Charity Registration No. 1150017

Commission Apostolic Trust Limited

Report and Financial Statements

31 December 2021

Commission Apostolic Trust Limited

Contents

Page
Trustees and trust information 1
Report of the trustees 2 – 14
Independent auditors’ report 15 – 16
Statement of financial activities 17
Balance sheet 18
Cash flow statement 19
Notes to the Accounts 20 – 37

Commission Apostolic Trust Limited

Trustees and Trust Information Year ended 31 December 2021

Trustees Mr J S Salway
Mr G A Wood (Chairman)
Mr P Morton
Mr S D Theunissen
Mr O A Bolorunduro (Appointed 14 July 2021)
Mr M B Jarvis
Mrs L M Green
Mr S T Sloan
Independent Examiners Saffery Champness LLP
Midland House
2 Poole Road
Bournemouth
Dorset
BH2 5QY
Solicitors Lester Aldridge
Russell House
Oxford Road
Bournemouth
Dorset
BH8 8EX
Bankers HSBC Bank Plc
59 Old Christchurch Road
Bournemouth
Dorset
BH1 1EA
Company Registration Number 08293624
Charity Number 1150017
Principal Office 138 Holdenhurst Road
Bournemouth
Dorset
BH8 8AS
Members of the Company Mr G A Miller
Mr S Petch
Mr T Blaber
Mr C Kilby

Page 1

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

Trustee/Directors Report

The trustees, who are also directors for the purposes of company law, have pleasure in presenting their Report and Financial Statements of the Charity for the Year ended 31 December 2021.

Other than Oluwapelumi Bolorunduro (appointed July 2021), the trustees named on page 1 served throughout the year.

Objectives and Activities

Principal Objectives

The main objectives of Commission Apostolic Trust Ltd are to advance the Christian faith, to relieve sickness, poverty and distress to persons in need by virtue of age or social or economic circumstances and to advance the education whether of children or of adults.

Principal Activities

In order to achieve its objectives, Commission works as a worldwide family of churches through the following activities:

Achievements and performance

Overview

Commission is an international family of churches working together to start and care for churches, and to impact the communities which those churches serve. We have a vision to see thousands of lives transformed, through hundreds of churches in tens of nations.

We continued to feel the impact of the Covid-19 pandemic during 2021 but were able to adapt a lot of our events to be run online. This proved a great way to connect with the wider family of Commission across the globe. We did however continue to see an expansion in our crisis relief activities and were able to host a oneoff one-day event for Leaders.

We have continued to see lives impacted and baptisms taking place across our churches despite the challenges presented. Our global family of churches now stands at approximately 300 across 10 nations, with strong connections in other nations.

The end of 2020 marked a key milestone in our vision metrics (baptisms as a proxy measure for transformed lives, church numbers and nations we are working in). Due to the pandemic, we were not able to gather these statistics for 2021.

Page 2

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

Review of the year’s activities

Each of the five Principal Activities of Commission are outlined below with significant achievements for 2021 noted.

1. Establishing new churches and caring for established churches

One of Commission’s key priorities is to start new churches. These can be new churches in new locations, or a new location (site) of an existing church. 2021 saw the launch of a church plant in Swindon. Other planned church plant and site launches were hampered by the impact of Covid-19. It is expected that a new plant will be launched in 2022 in Leicester.

A vital part of the work of Commission is largely unseen but is the ongoing and vital care of churches which is achieved through our Commission Hub Team, formed from members of the apostolic core team and wider leadership team of Commission (see below), supporting church leaders through providing training, advice and coaching and speaking at various church meetings throughout the year.

This support moved to almost exclusive online support through the pandemic, providing much needed support to church leaders who were required to operate church life in unfamiliar and difficult ways. Most churches moved to online delivery of church activity including Sunday and mid-week meetings.

As the immediate lockdown restrictions in the UK were implemented, we set up a number of additional support meetings and groups to help churches adapt to the new ways of carrying out their activity. We developed guidelines for running online church and provided technical support for churches. Our Pastoral Assistance Programme, available for all Commission eldership teams and their families, has continued to provide additional well-being support and access to counselling services. In 2021, we saw engagement with the programme double from 6% to 12%. This was a total of 19 callers to the helpline. The number of people accessing the free counselling also doubled to 8, with an additional 48 users of the app.

As noted above, our international church family continues to expand with a rapid growth in church numbers in South Asia through the adoption of existing churches. Our international family was similarly impacted by the lockdown restrictions imposed by local Governments. Notably the churches in South Asia and the Philippines were significantly impacted and a crisis relief fund was developed to assist with the immediate needs (see below).

Local leadership continues to be developed by the UK and International Leadership Teams (see below) and continued efforts are being made to train and develop national leaders in order to sustain the ministry of starting new churches.

Page 3

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

2. Organising conferences to encourage and envision individuals and church leaders

Our conferences in the UK and overseas were significantly impacted due to the Covid-19 pandemic. While we adapted where we could and made use of online platforms to deliver a limited range of events, most were forced to be cancelled or postponed to 2022. Notably our inaugural Connect Festival in the UK, which was postponed in 2020, was postponed further to 2023. Our events in 2021 were once more limited to:

3. Training individuals for Christian service in the church and community

In 2020 all of our suite of training courses changed and we launched new courses to replace all the existing courses. These have continued to be successful with increased interest across the board. We had more people apply to each course in 2021 than in 2020. Although, some of the initial applicants had to defer or cancel their application, the take up and interest in the courses have been very encouraging.

Page 4

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

Other courses:

In addition to the main training courses we provide, we have continued to run additional courses and have introduced some new ones in 2021, that are aimed at people in specific situations and with specific calls upon them.

Priscilla Scholarship

The Priscilla Scholarship was launched in 2020 to provide funding of up to 50% of the cost of a Level 3 or Level 4 course to 2 women who are part of a Commission Church, who are already involved in leadership and have a desire to develop their leadership while also obtaining formal teaching and qualification. This scholarship plays an important part in helping us achieve our desire to equip individuals for the works God has for them as well as raising and developing leaders within Commission. In 2021, another 2 women were awarded this scholarship.

Page 5

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

4. Strengthening relationships and developing apostolic leaders and vision both in the UK and abroad

As Commission has developed over the years, the leadership team have been able to express and develop the vision and direction for Commission for the future. In April 2016 a vision statement was developed for Commission ‘to see thousands of lives transformed through hundreds of churches in tens of nations’.

A strategic change programme was launched in the UK based around four key elements SEND, UNIFY, RELEASE and EQUIP. This programme known as SURE was launched in 2016 and came to an end in 2021.

The SURE programme followed a five-phase approach from creation of the strategy to sustaining changes in everyday practice. Overall we saw 53 of the 145 workstreams completed; with over 160 individual deliverables completed. If not completed or with current work in progress, the remaining workstreams have been closed (de-scoped).

The question of impact is difficult to quantify. While a significant change in our key metrics has not been seen (yet) as a result of the programme, there have been very real benefits to the programme which are highlighted in the report including unification around a clear vision and strategy, release of multiple leaders and new teams, implementation of new approaches (e.g. Hub and Cluster model of church care and support), diversification of teams (incl UKLT), definition of values and culture, and a clear and ongoing focus on leadership development.

A number of reflections and learning points were reviewed in an analysis of the overall SURE programme, including the challenges of implementing a ‘centralised’ programme across a family of autonomous churches, the culture clash of using a rigorous project management approach, the engagement of church leaders, the capacity and pace of delivery through a primarily volunteer resource base, longevity and complexity of programme design and management of expectations.

It is proposed that we need to focus on priorities such as multiplication and release of Ephesians 4 ministries and apostolic teams, sustained attention on leadership care, support and development, and pursuit of the apostolic priorities of reaching the unreached and ministry with the poor.

Throughout the life of the SURE programme, we implemented a number of wide-ranging changes across a variety of arears of Commission life. These include providing resources for churches, including the launch of a Digital Resource Hub in the UK which has over 200 users and 300 resources available to download and help leaders, administrators and ministry leaders across all areas of church life.

Commission strongly affirms that we are a church family, and so time is given through our events and care of churches to develop strong relationships. Often this is achieved through working on joint projects together. We are currently exploring developing connections with church leaders or potential church planting areas in a number of nations in the Middle East, Far East, Latin America and the USA. These emerging connections have been hampered by not being able to visit and serve the churches in these locations, but we have been able to join together for global online events which were well received.

Page 6

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

5. Working directly with or supporting projects helping the vulnerable or those in hardship

As noted in our charitable objects, helping the vulnerable and those in hardship is a key value which we work hard to implement through a number of projects in our local churches and jointly as a family of churches.

The continued impact of Covid-19 in the UK and overseas (especially in South Asia) has affected all areas of society but particularly those who are vulnerable, isolated or living in poverty. Many of our UK churches have been able to adapt their activity and continue to engage with their community through food banks, debt advice services, care for the elderly and isolated, and other social action work.

During 2021 we continued to make use of the crisis relief offering taken up specifically to support those negatively affected by Covid. We supported families in India, Bangladesh, the Philippines, Serbia and other nations.

Although some of our activities and plans have been affected by Covid-19, we have continued to implement our Church and Community Transformation programme in East India, in partnership with a local NGO, EFICOR. This programme has continued to have significant impact on the communities where it has been established and running.

We hold a crisis relief fund as part of the annual offering to use as and when crises develop so that we can respond quickly when the need arises. We used some of this fund to support Crisis Relief work in Afghanistan and continued to support the work in South Asia .

In all of the above activity, the focus remains the same: starting churches, strengthening leaders, raising up indigenous leaders, caring for those who are vulnerable and in poverty and going to areas of the world where the Christian faith is not expressed or known. Overall, we hope that the impact of our work is increasing in the communities that our churches serve both in the UK and overseas. Through our partnership with local churches, we believe our work together is making a real difference to the lives of many.

Other activity:

Communications and resources

Commission has maintained a regularly updated website which is a central point for resources, event bookings, media archives and information about Commission. This website has valuable resources in all areas of our work including a focus on the updated vision and strategy, as well as information about upcoming events and a regular news blog.

A regular social media presence has also been maintained.

There has also been a reasonable amount of Commission branded material produced which has strengthened our brand identity and unity through our vision.

Our Digital Resource Hub has been a helpful source of information for many of our churches and has been a place where churches can share useful resources.

Page 7

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

Communication is a vital element in unifying our churches to our common aims and values and we will continue to ensure we pursue excellence in this area. We are specifically working on increasing our digital accessibility and have taken significant steps to improve our practice in this area. We have also invested in this area by recruiting a videographer and Communications Assistant to help ensure that we are able to reach more people than ever before and ensure that we stay connected as a family of churches.

Operations

We continue to ensure we have robust policies and procedures to underpin our activity. We have developed strong internal systems of administration, finance, risk management and governance through the implementation of an operational framework. Throughout the year the administrative team along with the charity directors worked hard to establish robust policies and procedures to help achieve our long-term objectives.

Impact of the Covid-19 pandemic

As noted consistently above, and in last year’s report, all our activities in 2020 were impacted and this continued to be the case in 2021. While we have been able to take advantage of new technology and connect more as a global church family, there have been serious implications for the organisation; our income and our expenditure on core activities have both reduced.

The trustees continued to meet regularly to assess and monitor the charity’s position and requirements. To assist with the charity’s cash position, wherever possible members of staff remained on furlough at various times through the year to take advantage of the UK government’s Job Retention Scheme. This was of great benefit to the charity and its employees alike.

Incoming resources

Total incoming resources for the year were just under £792K during 2021 (2020: £972k). This income is made up of donations, training and event ticket income as well as investment income.

Undesignated donations are mainly received from churches either as regular or one-off gifts; these amounted to £327k during 2021 (2020: £356k). Donations received from our offering during the year amounted to just over £227k (2020: £379k). These included amounts that were donated instead of receiving refunds for cancelled events. These funds are treated as designated funds by the directors.

We also received elements of grant funding for restricted purpose during the year for a number of global projects, which is included in our incoming resources. Please see the notes on restricted funds below.

Conference and Training income amounted to £34k during the year (2020: £49k) and includes events such as Managing Leadership Anxiety, as well as our leadership training courses.

This represents a significant drop in income solely due to the impact of Covid-19.

Page 8

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

Future objectives

As restrictions begin to be lifted and we begin to recover from the impact of the Covid-19 pandemic our objective for the future continues to be to expand our regular core activities of raising leaders, starting and supporting established churches, ministry with the poor and proclamation of the Christian faith. The support of leaders as they continue to lead churches through on-going change and challenges is of primary importance, and we are deliberately investing more time and money on the emotional well-being and mental health of our leaders and those who work for Commission churches.

Having seen and enjoyed the benefits of technology, we want to continue to run our Global Online events and where possible include Commission Churches outside the UK in some of our in-person events. This will help us continue to remain connected as a family of churches across the globe. Additionally, we’ll be launching two new events in 2022; a Kids on Tour event across 5 locations and a Commission Leadership Conference.

We will continue to emphasise our priority of caring for the vulnerable, isolated and in poverty, providing for physical, emotional and spiritual needs. Primarily this happens through our local churches in all the nations we work.

Leadership training and development remains a key priority given our objective to start new churches in the UK and overseas. We’re glad that some of our courses have now been able to meet in person as restrictions have eased, but we are very aware of the benefits of technology in this area and intend to continue to provide access to these courses for those who might not be able to attend them in person.

Continued investment in our communications as an organisation will also be a priority as we look to build stronger relationship and unity as a family of churches.

Finally, continuing to build a strong UK administrative base is a priority in order to facilitate growth in all the above pursuits and demonstrate sustainable good practice as a UK charity.

Grant Making Policy

Commission works with churches worldwide and where these churches are able to fulfil the objectives of the charity more ably, or maintain closer working links with activities or projects, grants are sometimes provided. These are made following a thorough grant application process.

Our grant management policy and associated procedures and systems was entirely updated in 2019, including developing our online grant application and reporting systems further. This includes categorising the different types of grants and specifying the requirements for each category. For the categories which require an application, applicants are required to submit project proposals including budgets, narrative summary and intended impacts of funding. Depending on the nature of the grant, mid-term and final evaluation reports are also required as part of the grant cycle, including submission of evidence of end point use of funds where applicable.

Once received, the team with delegated authority for those funds (e.g. for church planting) will assess applications before being discussed and agreed in the UK Leadership Team. The Operations team monitor and review plans, evaluations and reports including budgetary controls for all applications.

Page 9

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

Reserves Policy

The directors review the charity’s reserves regularly in the light of Charity Commission guidance. The directors believe that the charity should hold free reserves of between two and four months of the monthly operating costs, as it is believed that this will provide sufficient funds to respond to any shortfalls in donations and event income and would cover all costs in unforeseen circumstances.

The charity’s current reserves position is as follows:

Support, volunteers and other organisations

Commission developed partly out of the identifiable benefit gained from a family of churches working together. This has enabled the charity to expand into areas of involvement which would have otherwise taken longer to achieve or been impossible. These relationships benefit the charity in areas such as church planting and development, training, conferences and working with those in need.

The trustees express their thanks for the ongoing generosity of churches and individuals in both donations and volunteer time.

Employees

The work of Commission relies on the commitment and hard work of its valued staff. A considerable amount of time is volunteered to Commission both in continuous service and at our various events throughout the year.

Commission directly employed a total of 15 people in 2021.

In some cases, a deed of covenant may be set up with a Commission church, where an employee is joint contracted by the church and Commission and a proportion of salary costs is covered.

The trustees wish to take this opportunity to thank all staff, past and present, for their service and commitment.

Page 10

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

Remuneration policy

Trustees decide on salaries for all staff. The process for reviewing and determining salaries was redesigned at the end of 2021 in order for it to be more specific to Commission and it’s staffing requirements. The matrix that was developed now takes into consideration annual inflation and helps to map out potential development and a trajectory for each role. Some of the benefits of the new matrix is in forecasting staffing costs. The matrix considers key responsibility areas for each role, level of responsibility and value that each role is to the organisation. Appraisal review feedback will continue to be used by the trustees in determining where on the scale each employee is performing based on the matrix.

Salaries are reviewed at the end of each financial year and coincide with the production of budgets. These are reviewed and discussed by trustees and approved at the year end.

Public Benefit

The trustees have given due regard to the Charity Commissions guidance on public benefit.

It is important to note the direct public benefit that exists from the establishing of churches in communities. One of the main objectives of a church is to engage in social action work for the benefit of the community it serves. This principle is strongly encouraged as a core belief of the Christian faith. The nature of this work varies enormously, but typically our churches will engage in a number of different projects. A list of these social action initiatives can be found via the Social Action Directory on our website.

As a family of churches, we are keen that the social action projects we run are of a very high standard and as such provide resources to local churches to ensure good practice. This includes teaching and training offered to local churches to monitor and evaluate their individual social action projects to ensure a high standard is maintained. This has a direct impact on the public as projects are therefore shaped to best meet the needs of those being served.

Page 11

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

This work includes community development programmes, agricultural programmes, education, and capacity building. This would be by making grants to programmes or with supplying personnel who can help develop the programmes. We would again seek to work to a high standard, maintaining good practice principles developed both within our family of churches and from outside. From time to time and as required we will support with grants relief efforts after (for example) a natural disaster. A number of the individual churches in our family will also support various social action programmes in low-income countries.

Structure, Governance and Management

Governing document

Commission Apostolic Trust Ltd is a charitable company, limited by guarantee, incorporated on 14 November 2012 and registered as a charity on 3 December 2012. The company’s Memorandum of Association established the objects and powers of the charitable company. The company is governed by its Articles of Association.

Recruitment and appointment of trustees

Trustees are recruited and appointed by the members at the Annual General Meeting where they are deemed to possess the experience and skills required to perform the role of a trustee. The trustees may also appoint a director to serve until the next Annual General Meeting, at which time he or she would cease to hold office but would be eligible for election.

Induction and training of trustees

All trustees are considered to be highly experienced and skilled individuals. Training is provided where considered necessary.

Organisational structure

Globally, Commission is led by Guy Miller and a team of international leaders known as the ‘Commission International Team’. The UK region is led by Guy and a team of UK leaders known as the ‘UK Team’. All members of this UK team are the company members and are responsible for the leadership and achievement of the objectives of the charity. They are also responsible for the day-to-day operational decisions and the coordination and direction of Commission work.

This team, and others, provide care and support for existing churches, work with leaders to start new churches, strengthen existing values and ministries and continue to pursue new areas to take the Christian message. The UK Commission churches are split into 5 regions (or ‘hubs’), led by a church leader appointed by the UK team. Each Hub leader has a small team who help in the ongoing support of churches.

The board of directors are responsible for administering and governing the charity. The board meets at least quarterly to monitor all aspects of its progress.

The board of trustees consists of one executive trustee, and seven non-executive trustees. The non-executive trustees bring experience and expertise in business, human resources, risk management, information governance, security and law.

Page 12

Commission Apostolic Trust Limited

Report of the Trustees Year ended 31 December 2021

The trustees have delegated the day-to-day responsibilities of the charity to key staff and executive director. These include Finance, Governance, HR and Risk systems and processes. The executive trustee reports to the trustees on a regular basis on these areas of responsibility. The Leadership Team will set the vision and direction of the organisation and lead the organisation through teaching and training.

Related parties

The charity was born out of a movement of churches in the United Kingdom and across the world called Newfrontiers. Newfrontiers went through a period of transition in which its founder, Terry Virgo, sought to continue the legacy of the movement by establishing and releasing apostolic leaders within the movement to carry the work forward with Newfrontiers churches relating to each sphere of leadership. This has led to the development of a number of church networks who work both individually and in partnership where there is mutual benefit. Guy Miller, leader of Commission, is one of these leaders, and the Commission Apostolic Trust Limited charity was established on 14 November 2012 to run the above activities under the charitable objectives.

Commission works with a number of these Newfrontiers church networks both in the UK and overseas on initiatives similar to those described above, where partnership helps both parties work together towards achieving mutually agreed goals.

Risk management

The trustees have overall responsibility for the charity’s internal control. Such a system can provide only reasonable and not absolute assurance against errors or fraud. There is a clear delegation of the trustees’ authority through the executive trustee and the UK Team to the rest of the charity.

The charity operates a planning and budgeting system with an annual budget approved by the board of trustees. A financial reporting system monitors the income and expenditure of the charity against the budget on a quarterly basis.

A register of the risks faced by the charity is maintained, identifying the major strategic and operational risks faced and how they are being managed.

Commission’s most significant risks are reputational, loss of key staff and the cancellation of the annual festival.

Commission maintains a register of the key risks identified. Reputational risk is managed through a number of strategies including accountability of leaders and clear management of communications and public relations. Loss of key staff risks are mitigated to an extent through the performance appraisal process which encourages open communication and line management of staff, as well as a clear policy on reviewing salaries and other benefits. The annual festival and other events are managed by detailed budgeting and review by an event strategy team who report to the directors. Our reserves policy sets aside contingency funds in the unlikely situation that the event needs to be cancelled. Our event insurance includes cover for damages to fixed buildings as well as communicable diseases on the show ground.

The trustees are satisfied that systems are in place to monitor, manage and mitigate the charities exposure to major risks. They consider that the development of the charities reserves and reviewing internal controls and risk will provide the charity with adequate risk assurance and sufficient resources in the event of adverse conditions. They also recognise that the nature of some of the charities work requires active acceptance and management of some risks when undertaking activities to achieve the objectives of the charity.

Page 13

Commission ApostofK TrwE limit Report ofthE Trustees YeaT ended 31 D¢￿rnber 2021 Tiustee< reSpO￿lbIlItieS bn relation tothe financial 5tatefflents The charity trusiees Iwho are also the dlrectors of the tharity for the purposes of cornpany13wl are responsible for preparin8 a trustÈe< annual report and financial stat@mentS 7n accordance with applicable law and United Kingdom Accounting Standards {Unlted Kingdom Generally Accepted Accountin8 Practlcel. Company law requires the charity trustee5 to prepare finarKial statements lor each year which give a tnje and fair view of the state of affaiT5 of the charitable companyand of the incomir¢£ r¢50urces and applicatKJn of resources. Including the income and expenditure, of the charitable company for that period. In preparin8 the financial statements, the trU￿ee$ are required to-. select Sultable xcountin8 policies and then apply them conslstently: observe the method5 and pdnciples in the Charlties SORP. make jud8ements and estimates that are reasonable and prudent: state whether applicable UK accounting stsndards have been followed, Subject to any m*erial departures discEosed and explained in the financial statements: prepare the flnanctal ststements on the goir4concem basis unle55 it is inappropriate to presume that the charity will continue bn busine55 The trustees are ￿spOnsible for keeplng proper accountlng records that dls¢lose wfth reasonable accuracy at any time the financial position of the charity and to enable them to eThSu￿ that the finanaal statements comply with the Compan5es Art 21J>G. They are a150 responsible safe8uarding the assets of the charlty and hence taking reasonable stsps for the prevention and detertion of fraud and other irregularitie5. The trustees are responsible for the maintenance and integrity of the corporate and financial infomation included on the chaftsble company's website. LebTslation in the United Kingdom governing the preparation and di55emination of financial stotements may differ from leglslation in otherjurisdirtion5. Independent ExaMh￿S Sthery Champness, the charitys Independent eK4mtfters are willin8 to remain In office and a resolution to re-appoint them will be proposed at the Annual General Meeting. The Trustees have tsken advantage of the small Companie￿ rezirne in preparing the Report of the Trustees. On behalf of the Trustees: Mr G Wood Chair of Trustees Date: P4e 14

Commission Apostolic Trust Limited

Independent Examiner’s Report to the Trustees of Commission Apostolic Trust Limited

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2021.

Respective responsibilities of trustees and examiner

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.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of ICAEW, 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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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).

Page 15

Commission Apostolic Trust Limited

Independent Examiner’s Report to the Trustees of Commission Apostolic Trust Limited

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.

Nicholas Fernyhough (FCA DChA) For and on behalf of Saffery Champness LLP

Chartered Accountants Midland House 2 Poole Road Bournemouth Dorset BH2 5QY

Date: 22 August 2022

Page 16

Commission Apostolic Trust Limited

Statement of Financial Activities (including Income and Expenditure account) For the Year ended 31 December 2021

Notes
Income and endowments from:
Generated funds
Donations and legacies
2
Charitable activities
3
Investments
Total incoming resources
Expenditure on:
Charitable activities
4
Total resources expended
Net expenditure
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Unrestricted
funds
2021
£
691,665
33,852
3,912
729,429
794,660
794,660
(65,231)
(36,704)
(101,935)
1,006,421
904,486		 Restricted
funds
2021
£
62,070
-
-
62,070
56,451
56,451
5,619
36,704
43,323
67,631
109,954		 Total
2021
£
753,735
33,852
3,912
791,499
851,111
851,111
(59,612)
-
(59,612)
1,074,052
1,014,440		 Total
2020
£
910,133
49,110
12,113
971,356
991,973
991,973
(20,617)
-
(20,617)
1,094,669
1,074,052

All gains and losses are included above. The deficit for the year for Companies Act purposes was £59,612 (2020: £20,617).

The notes and accounting policies on pages 21-38 form part of these accounts.

Page 17

Commisslon Tnist iiffllted Balance Sheet at 31 December2021 2021 2020 14otes Fjxed assets Tangible as￿$ io 14,318 7,H7 Current assets Debtors Cash at bank and in hand li 232548 957A)11 223.481 1.058,07S 1.189559 L281,556 Cxeditors: Amounts faUin8 due wlthin one year 12 1189.4371 1214,9511 Net cwrent assets I,LKKJ.122 I,Q66.605 Total assets les5 current Ilabllltles 1.014,440 1.074,052 Funds Unrestrieted funds General funds De518nated funds 389,869 SS1,321 296.948 709,473 14 941,190 I,CK16.421 R¢strirfed fvnds 13 73.250 67,631 Total lunds 15 1.014.440 1.074,052 The notes and accountin8 pollcies on pages 21-38 form part of these accounts. Approved by the Board ol Trustees on 4 August 2022 and SiBned on its behav MrG Mrs D Theunissen Company numb#r: 1>8293624 Pale 18

Commission Apostolic Trust Limited

Cash flow statement Year ended 31 December 2021

Notes
Cash flows from operating activities:
Net cash provided by operating activities
16
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from sale of tangible fixed assets
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period
17		 £
3,912
-
(8,810)		 2021
£
(96,166)
(4,898)
(101,064)
1,058,075
957,011		 £
12,113
-
(1,438)		 2020
£
(143,117)
10,675
(132,442)
1,190,517
1,058,075

Page 19

Commission Apostolic Trust Limited

Notes to the financial statements Year ended 31 December 2021

1 Accounting policies

1.1 Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Charity Commission Statement of Recommended Practice - Accounting and Reporting by provisions of the Charities SORP (FRS 102) – 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 (effective 1 January 2019) and the Companies Act 2006.

Commission Apostolic Trust Limited constitutes a public benefit entity as defined by FRS102.

The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

1.2 Fund Accounting

The general unrestricted fund is available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Designated funds are those funds which the Trustees have set aside from the Annual Offering for the benefit of future projects.

The restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

1.3 Fixed Assets

All fixed assets are initially recorded at cost.

All assets costing more than £400 are capitalised.

1.4 Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Motor vehicles – 25% reducing balance

Other plant and machinery – 25% reducing balance

Page 20

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

1 Accounting policies (continued)

1.5 Incoming Resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Specific policies are applied to particular categories of income.

Voluntary income is received by way of grants and donations and is included in full in the statement of financial activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Investment income, being interest, is included when receivable.

Incoming resources from grants which are related to performance and specific deliverables are accounted for as the charity earns the rights to consideration by its performance.

1.6 Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Irrecoverable VAT is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the time spent.

Governance costs include those costs associated with meeting with constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity.

1.7 Pension costs

The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the statement of financial activities

1.8 Financial instruments

The trust 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.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 21

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

1.9 Critical estimates and judgements

In the application of the Charity’s accounting policy the trustees are requested to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumption are reviewed on an ongoing basis.

2 Donations and legacies

Donations
General gifts
Grants		 Unrestricted
funds
£
470,869
220,796
691,665		 Restricted
funds
£
55,380
6,690
62,070		 Total
funds
2021
£
526,249
227,486
753,735		 Unrestricted
funds
£
595,327
192,017
787,344		 Restricted
funds
£
105,691
17,098
122,789		 Total
funds
2020
£
701,018
209,115
910,133

3 Charitable activities

Donations
Together at Connect Festival
Training income
Other events and activities		 2021
£
5,222
28,818
(188)
33,852		 2020
£
21,853
26,853
404
49,110

All income from charitable activities was unrestricted in both years.

Page 22

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

4 Analysis of total resources expended

Current year
Charitable activities
Events
Training
Apostolic Ministry & Support
Local & Worldwide mission
Total resources expended
Support staff costs
Prior year
Charitable activities
Events
Training
Apostolic Ministry & Support
Local & Worldwide mission
Total resources expended
Support staff costs		 Grants
£
500
-
58,498
267,162
326,160
Grants
£
40,000
-
-
368,695
408,695		 Staff
costs
£
41,160
70,656
8,171
155,519
275,506
157,909
433,415
Staff
costs
£
87,643
64,543
9,625
155,197
317,008
148,737
465,745		 Other
direct
costs
£
6,196
5,163
2,065
7,228
20,652
Other
direct
costs
£
4,984
4,153
1,661
5,814
16,612		 Support
costs
£
68,638
57,198
-
102,957
228,793
(157,909)
70,884
Support
costs
£
74,898
62,414
-
112,346
249,658
(148,737)
100,921		 Total
2021
£
116,494
133,017
68,734
532,866
851,111
Total
2020
£
207,525
131,110
11,286
642,052
991,973

Page 23

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

5
Allocation of support costs
Current year
Property costs
Travel costs
Staff costs
Office costs
Information Technology
Teaching & training costs
Finance costs
Governance costs
-
Staff
-
Professional fees
-
Legal fees
Prior year
Property costs
Travel costs
Staff costs
Office costs
Information Technology
Teaching & training costs
Finance costs
Governance costs
-
Staff
-
Professional fees
-
Legal fees
Total
£
12,954
8,238
153,648
31,400
4,260
3,084
800
4,260
9,509
640

228,793
Total
£
15,451
28,984
143,923
35,758
3,101
3,302
2,863
4,813
10,711
752

249,658
Fundraising &
Events
£
3,886
2,472
46,094
9,420
1,278
925
240
1,278
2,853
192

68,638
Fundraising &
Events
£
4,635
8,695
43,177
10,727
931
991
859
1,444
3,213
226

74,898		 Mission
activities
£
5,829
3,707
69,142
14,130
1,917
1,388
360
1,917
4,279
288
102,957
Mission
activities
£
6,953
13,043
64,765
16,092
1,395
1,486
1,288
2,166
4,820
338
112,346		 Teaching &
Training
£
3,239
2,059
38,412
7,850
1,065
771
200
1,065
2,377
160
57,198
Teaching &
Training
£
3,863
7,246
35,981
8,939
775
825
716
1,203
2,678
188
62,414

Page 24

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

6
Grant expenditure
The charity made the following grants during the period:
Local
Worldwide
£
£
A Fonte Egreja Evangelica
-
-
Adam and Nina Majerus
-
7,750
Advance
-
-
Aldershot Church Plant
-
-
Cardiff Restricted Fund: Giving
-
-
Catalyst Network
-
-
Christ Central
-
-
Church Planting Resources
India
-
10,200
Clarendon Trust – Newday
-
-
Commission Training Subsidy
16,750
-
Commission Event
Underwriting
500
-
Connect Festival
-
-
Covid crisis relief - Bangladesh
-
3,046
Covid crisis relief – Kachwa
Christian Hospital - India
-
-
Covid crisis relief - Miro
-
434
Crisis relief
25,000
-
Crisis relief – Cottons - Italy
-
750
Dave & Karen Priest Middle
East support
-
5,000
Delegates to Event
5,000
-
Edfri International
-
5,000
Ghana
-
16,422
Global
-
-
India Covid Relief
-
19,816
India Gospel Ministries
-
-
Jubilee +
5,000
-
Life church Southampton
-
-
Madrid
-
-
Mission contingency -
Philippines
-
500
Mission work in Penafiel
Portugal
-
-
Myanmar restricted
-
4,536
Newday underwriting
-
-
NF Events Support
10,000
-
Paul and Joanna Young
-
7,500
Portugal SURE
-
-
Red deer Canada
-
-
Social Action
5,000
-
Social Action - Parivartan
-
42,454
Carried forward
67,250
123,408
 2021
£
-
7,750
-
-
-
-
-
10,200
-
16,750
500
-
3,046
-
434
25,000
750
5,000
5,000
5,000
16,422
-
19,816
-
5,000
-
-
500
-
4,536
-
10,000
7,500
-
-
5,000
42,454
190,658		 Local

£
-
-
-
5,000
66,686
3,330
3,330
-
5,000
-
40,000
30,000
-
-
-
-
-
-
-
-
-
10,000
-
-
-
5,000
-
-
-
-
10,000
20,000
-
-
-
10,000
-
161,646		 Worldwide
£
13,000
12,500
3,330
-
-
-
-
32,150
-
-
-
-
5,568
2,500
5,000
-
-
7,500
-
-
50,337
-
24,450
2,500
-
-
8,000
-
4,250
816
-
-
-
2,500
5,000
-
3,650
167,683
 2020
£
13,000
12,500
3,330
5,000
66,686
3,330
3,330
32,150
5,000
-
40,000
30,000
5,568
2,500
5,000
-
-
7,500
-
-
50,337
10,000
24,450
2,500
-
5,000
8,000
-
4,250
816
10,000
20,000
-
2,500
5,000
10,000
3,650
329,329

Page 25

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

6 Grant expenditure (continued)

Bought forward
Stepping Stones India
Tearfund - Afghanistan
Trinity Life Church
UK Operational Support
Union School of Theology
Worship encounter
Total		 Local

£
67,250
-
-
6,250
122,000
6,600
-
202,100		 Worldwide
£
123,408

225
5,000
-
-

-
-
128,633
 2021
£
190,658
225
5,000
6,250
122,000
6,600
-
330,733		 Local

£
161,646
-
-
-
-
3,300
798
212,444		 Worldwide
£
167,683

200
-
-
-
-
-
196,251
 2020
£
329,329
200
-
-
-
3,300
798
408,695

Page 26

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

7 Net outgoing resources for the year

This is stated after charging:

8

Staff pension contributions
Depreciation
Auditor’s remuneration – audit fees
Auditor’s remuneration– general advice
Independent examiner’s fee
Staff costs
The movement in the year is after charging:
Wages and salaries
Social security costs
Pension costs
erage number of employees, analysed by function was:
Mission staff
Operational staff		 2021
£
12,400
1,939
-
-
3,950		 2020
£
11,802
2,402
5,550
1,050
-
2020
£
417,376
36,567
11,802
465,745
2020
No
2
12
2021
£
382,342
38,673
12,400

433,415
2021
No

2
12

The average number of employees, analysed by function was:

Total remuneration, including national insurance contributions, of key management personnel in the period was £208,857 (2020: £177,542).

During the year 1 employee received remuneration between £60,000 and £70,000 (2020: 1 employee between £60,000 and £70,000).

Page 27

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

9 Trustees’ remuneration

The Memorandum of Association authorises the payment of remuneration to trustees for services other than acting as a trustee. The following paragraphs outline the payments so made.

M Jarvis is a trustee of the charity. During the year, Miles Jarvis received a salary, including pension contributions of £39,108 (2020: £48,124) for his role as Director of Operations of the Charity. O Bolorunduro was appointed as a trustee of the charity during the year. Since appointment on 14 July 2021, O Bolorunduro received a salary, including pension contributions of £18,645 for his role as Finance Director of the Charity. No other trustees received any remuneration during the current or previous year.

Donations totalling £1,733 (2020: £2,300) were received from the trustees during the year. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the current or previous year, other than as disclosed in note 18.

No expenses were reimbursed to any trustee during the current or previous year, other than as disclosed in note 19.

Page 28

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

10Tangible fixed assets
Cost or valuation
At 1 January 2021
Additions
Disposals
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
Eliminated on disposal
At 31 December 2021
Net book value
31 December 2021
31 December 2020
11
Debtors
Trade debtors
Other Debtors
Prepayments		 2021
£
10,569
4,991
216,988

232,548		 Office
equipment
&
machinery
£
21,433
8,810
-
30,243
13,986
1,939
-
15,925
14,318
7,447
2020
£
6,962
-
216,519
223,481

Page 29

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

12 Creditors

Amounts due within one year:
Trade creditors
Deferred income
Other creditors		 2021
£
66,964
70,093
52,380

189,437		 2020
£
77,385
101,985
35,581
214,951

13 Restricted income funds

Current year
Stepping Stones India
Cardiff
India Relational Mission
Ghana
Myanmar
Covid Crisis Relief
India Covid Relief
India and Far East
UK Church planting
Total
Prior year
Stepping Stones India
Cardiff
India Relational Mission
Ghana
Myanmar
Covid crisis relief
India Covid relief
India & Far East
Ahmedad
Chennai
Total		 Balance at
1 January
2021
£
159
(36,704)
12,458
23,966
10,762
25,969
17,972
13,049
-

67,631
Balance at
1 January
2020
£
199
28,655
12,458
34,153
3,730
-
-
-
-
-

79,195		 Incoming
resources
£
160
-
6,690
-
-
-
40,095
7,982
7,143

62,070
Incoming
resources
£
160
2,289
-
20,150
7,848
36,614
42,529
3,949
4,625
4,625

122,789		 Outgoing
resources
£
225
-
8,977
6,422
4,536
8,061
19,837
8,393
-

56,451
Outgoing
resources
£
200
67,648
-
30,337
816
10,645
24,557
150
-
-

134,353		 Transfers
£
-
36,704
-
-
-
-
-
-
-

36,704
Transfers
£
-
-
-
-
-
-
-
-
-
-

-		 Balance at
31 December
2021
£
94
-
10,171
17,544
6,226
17,908
38,230
12,638
7,143
109,954
Balance at
31 December
2020
£
159
(36,704)
12,458
23,966
10,762
25,969
17,972
3,799
4,625
4,625
67,631

Page 30

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

13 Restricted income funds (continued)

Stepping Stones India

Stepping Stones is a charitable trust based in Mumbai, India. They operate several different social action ministries including leprosy care and treatment, supporting those recovering from addiction and so on. The project funding was transferred from Newfrontiers to Commission. There are a small number of donors who support the project over a calendar year. We send funds that we have received for the project at regular intervals through the year.

Cardiff Church Start

There were donations received and expenses paid in relation to a church plant in Cardiff. The church received charity status in 2019 and all funds relating to the church were transferred from Commission in 2020.

India Relational Mission

Relational Mission, a charity linked with Newfrontiers gave funds towards our community development work with churches in India. This work has continued through 2021 and is planned to increase over the coming years.

Ghana

We received restricted funds from Grace Church Salisbury towards our work in Ghana. We've been using these funds in addition to the funds we had designated for work to be carried out in Ghana. This will continue through 2022.

Myanmar

Confluence, a Newfrontiers sphere in the USA have pledged to contribute $10,000 over 3 years towards the work of Commission in Myanmar. This began in 2019 and is expected to carry on.

Covid Crisis Relief

We received restricted funds from various individuals, churches and Newfrontiers spheres to support our work in bringing relief to those affected by Covid -19. These funds have been used to support those adversely affected in various parts of the world. We will continue throughout 2022, to support those requiring it and bring relief to those affected through our partners in different nations.

India Covid Relief

We received restricted funds from various individuals, churches and Newfrontiers spheres to support our work in bringing relief to those affected by Covid -19 in India. These funds have been used to support those adversely affected in various parts of India. We will continue throughout 2022, to support those requiring it and bring relief to those affected, working with our partners in India.

Page 31

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

13 Restricted income funds (continued)

India & Far East

Confluence, a charity linked with Newfrontiers gave funds towards our apostolic work in India.

Ahmedad

We received restricted funds from Clarendon Trust towards starting a church in Ahmedad, India.

Chennai

We received restricted funds from Clarendon Trust towards starting a church in Chennai, India.

UK Church Planting

We received restricted funds from Newfrontiers towards church planting in the UK.

Page 32

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

14 Unrestricted income funds

Current year
Designated funds
International
Church Planting
UK Apostolic
Support
International
Apostolic Support
Supporting the
Poor
Task Teams &
overheads
Underwriting
Events
UK Mission
Social Action
Unrestricted funds
General funds		 Balance at
1 January
2021
£
31,075
70,097
8,092
3,463
290,117
88,498
208,136
9,995
709,473
296,948

1,006,421		 Incoming
resources
£
-
-
15,000
36,000
195
-
137,998
-
189,193
540,236
729,429		 Outgoing
resources
£
10,000
8,086
189,542
12,250
91,216
-
36,250
-
347,345
447,315
794,660		 Balance at
31 December
Transfers
2021
£
£
-
21,075
-
62,011
166,450
-
-
27,213
(166,450)
32,645
-
88,498
-
309,884
-
9,995
-
551,321
(36,704)
353,165
(36,704)
904,486		 Balance at
31 December
Transfers
2021
£
£
-
21,075
-
62,011
166,450
-
-
27,213
(166,450)
32,645
-
88,498
-
309,884
-
9,995
-
551,321
(36,704)
353,165
(36,704)
904,486
551,321
353,165
904,486

Page 33

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

14 Unrestricted income funds

Prior year
Designated funds
International
Church Planting
UK Apostolic
Support
International
Apostolic Support
Supporting the
Poor
Task Teams &
overheads
Underwriting
Events
UK Mission
Social Action
Unrestricted funds
General funds		 Balance at
1 January
2020
£
11,075
80,565
146,020
46,012
376,935
138,498
1,569
9,995
810,669
204,805

1,015,474		 Incoming
resources
£
45,000
-
85,000
-
-
-
249,867
-
379,867
468,700
848,567		 Outgoing
resources
£
25,000
10,468
222,928
42,549
86,818
50,000
43,300
-
481,063
376,557
857,620		 Balance at
31 December
Transfers
2020
£
£
-
31,075
-
70,097
-
8,092
-
3,463
-
290,117
-
88,498
-
208,136
-
9,995
-
709,473
-
296,948
-
1,006,421		 Balance at
31 December
Transfers
2020
£
£
-
31,075
-
70,097
-
8,092
-
3,463
-
290,117
-
88,498
-
208,136
-
9,995
-
709,473
-
296,948
-
1,006,421
709,473
296,948
1,006,421

Designated Funds - Annual Offering

Funds were raised through our annual offering and designated for the projects and ministries detailed above. Below is a brief description of the different projects and ministries.

Page 34

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

14 Unrestricted income funds (continued)

15 Analysis of net assets between funds

Funds balances are represented by:

Tangible fixed
assets
2021
£
Restricted
funds
-
Designated
funds
-
General
funds
14,318
14,318		 Net current
assets
2021
£
73,250
551,321
375,551
1,000,122		 Total
2021
£
73,250
551,321
389,869
1,014,440		 Tangible
fixed assets
2020
£
-
-
7,447
7,447		 Net current
assets
2020
£
67,631
709,473
289,501
1,066,605		 Total
2020
£
67,631
709,473
296,948
1,074,052

16 Reconciliation of net income to net cash flow from operating activities

Net income for the reporting period (as per the
statement of financial activities)
Depreciation
Loss/(profit) on disposal of fixed assets
Dividends, interest and rents from investments
(Increase)/decrease in debtors
Decrease in creditors
Net cash outflow from operating activity		 2021
£
(59,612)
1,939
-
(3,912)
(9,067)
(25,514)
(96,166)		 2020
£
(20,617)
2,402
516
(12,113)
(52,445)
(60,860)
(143,117)

Page 35

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

17
Analysis of cash and cash equivalents
Cash in hand
Deposits on more than 3 months’ notice
18
Analysis of changes in net debt
Balance at
1 January
2021
£
Cash and cash equivalents
1,058,075
Balance at
1 January
2020
£
Cash and cash equivalents
1,190,517		 Cash

19 Related party transactions

During the year 2 trustees (2020: 1) were reimbursed £1,160 (2020: £932) for travel and other expenses.

During the year, Hope Church Winchester, of which G Wood is also a director, donated £47,447 (2020: £36,500) to the charity.

During the year, Westminster Chapel, of which S Sloan is also a director, donated £20,004 (2020: £22,503) to the charity.

During the year, Welcome Church, of which L Green is also a director, donated £66,550 (2020: £79,794) to the charity.

During the year, Citygate Church, of which S Theunissen and J Salway are also directors donated £8,858 (2020: £8,053) to the charity.

Page 36

Commission Apostolic Trust Limited

Notes to the financial statements (continued) Year ended 31 December 2021

20 Company limited by guarantee

The company is limited by guarantee and therefore has no share capital. In the case of a winding up each member has guaranteed to contribute an amount not exceeding £1. At 31 December 2021 the total of such guarantees was £4 (2020: £5).

21 Taxation

Commission Apostolic Trust Limited is a registered charity and can claim exemption from Corporation Tax on income and gains which are applied for charitable purposes under section 505, Income and Corporation Taxes Act 1988.

Page 37