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2021-12-31-accounts

REGISTERED COMPANY NUMBER: 08284434 (England and Wales) REGISTERED CHARITY NUMBER: 1150242

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

CATALYST NETWORK OF CHURCHES

Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT

CATALYST NETWORK OF CHURCHES

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2021

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 20
Detailed Statement of Financial Activities 21 to 22

CATALYST NETWORK OF CHURCHES

REPORT OF THE TRUSTEES for the year ended 31 December 2021

The trustees 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 2021. The trustees have adopted the provisions of 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).

STRATEGIC REPORT

Achievement and performance

How our activities deliver public benefit

As at 31st December 2021, 79 churches were part of the Catalyst Network. There are also a large number of churches overseas that have a direct Apostolic relationship with Catalyst. The UK church leaders have gathered on several occasions during the year for training, prayer and to be equipped to fulfil their role as leaders of churches reaching out to benefit the community locally, across the UK and overseas. These gatherings all took place online due to the Covid-19 pandemic.

The two appeal funds set up during 2020 in response to Covid-19 pandemic, the Covid-19 fund and the Business redevelopment fund continued to make grants to churches and organisations overseas that were severely affected by the pandemic. The remaining balance in these funds, awaiting further distribution during 2022 are £28k (Covid-19) and £44k (Business redevelopment).

Leadership Training, a 2 year structured training programme for church leaders and potential leaders once again ran online during the year. The two year, entry level bible training course "God’s Big Story" continued online to finish its first compete cycle. The course was considered a success and will be repeated during 2022 & 2023.

Overseas ministry forms a large part of Catalyst’s activities. Apostolic oversight of churches has involved continued online support to many nations, but no travelling has been undertaken.

Catalyst Festival Online was held during May 2021. A number of ticket holders for the cancelled 2020 festival agreed that the ticket cost they had paid would not be refunded but rather considered a donation to Catalyst. A number of churches also made donations and together these funds were used to finance the online festival, which was free to attend.

Through being a network of churches together Catalyst has been able to achieve more and get more involved in more areas than would otherwise have been possible by individual churches acting alone, thereby reaching out and benefitting more people in the UK and abroad.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Trustees appointment, induction and training

There were no appointments during the year. Trustees are required to agree with the trust’s Statement of Faith. Trustee induction includes a briefing with one of the existing directors on the role of Trustees. It also includes the provision and review of charity commission material on the role of the trustee. The need for further trustee training is kept under review.

Organisational structure

The trustees met for two formal board meetings during the year and have responsibility for the general, legal and fiscal oversight of the trust.

The day to day work of the charity is delegated to four of the Directors; Simon Holley, Richard Wightman, Andrew Martin and Andrew Simpkins who are supported by both paid and voluntary staff. There is a strategy team, headed by Simon Holley, made up of church leaders from within the network with emerging apostolic gifting that makes recommendations to the board on the broad direction of the Network and projects to fund. Andrew Simpkins and Richard Wightman also form part of this team.

Page 1

CATALYST NETWORK OF CHURCHES

REPORT OF THE TRUSTEES for the year ended 31 December 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Risk management

The trustees have established a pattern of risk management which is monitored through a Finance and Risk subcommittee of 6 of the directors to consider the financial, strategic and operational risks to the charity.

Going Concern and COVID-19 Pandemic

The Trustees have continued to monitor the charity's finances to ensure that we are able to meet our commitments and thus remain a going concern. The Trustees will continue to monitor the income and adjust the cost base appropriately if needed. We hold unrestricted cash reserves which equate to 10 months expenditure. Having considered these factors, we still consider the charity to be a going concern.

Reserves Policy

Catalyst aims to hold a minimum of the equivalent of three month’s expenditure as general reserves.

Financial Review

Total incoming resources for the year were £436k. Grants were mainly received from churches either as regular or one-off gifts. Donations from individuals were mainly received into the Covid 19 crisis appeal along with associated gift aid. Total ticket sales of £89,750 for the Catalyst Festival 2020 were not refunded but instead became donations that funded the unrecoverable costs from the cancelled 2020 Festival as well as the 2021 on line Festival. Total resources expended amounted to £475k. Total deficit for the year was £38k. This primarily related to the distribution of restricted funds previously collected through appeals and offerings. The net assets of the trust are £605k.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08284434 (England and Wales)

Registered Charity number

1150242

Registered office

Catalyst Network Of Churches Hertford Place Coventry CV1 3JZ

Trustees

Sarah Joanna Crowhurst Simon Geoffrey Holley Roydon Loveley Andrew Timothy Harlow Martin David John Morris Michael Paul Saxton Andrew Gordon Simpkins Richard Eric Wightman Martin Roger Eaton (resigned 31.12.2021)

Page 2

CATALYST NETWORK OF CHURCHES

REPORT OF THE TRUSTEES for the year ended 31 December 2021

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 7 July 2022 and signed on the board's behalf by:

Andrew Gordon Simpkins - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CATALYST NETWORK OF CHURCHES

Independent examiner's report to the trustees of Catalyst Network Of Churches ('the Company')

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

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 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)).

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.

Gregg Olner ICAEW Harrison Beale & Owen Limited Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT

7 July 2022

Page 4

CATALYST NETWORK OF CHURCHES

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
4
Charitable activities
7
Advancement of the Christian Faith
Other trading activities
5
Investment income
6
Total
EXPENDITURE ON
Charitable activities
8
Advancement of the Christian Faith
NET INCOME/(EXPENDITURE)
Transfers between funds
16
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
274,603
53,465
-
278
328,346
183,647
144,699
(45,000)
99,699
346,785
446,484		 Restricted
funds
£
107,598
550
-
-
108,148
291,251
(183,103)
45,000
(138,103)
296,236
158,133		 2021
Total
funds
£
382,201
54,015
-
278
436,494
474,898
(38,404)
-
(38,404)
643,021
604,617		 2020
Total
funds
£
1,019,205
48,696
57,048
1,023
1,125,972
1,077,048
48,924
-
48,924
594,097
643,021

The notes form part of these financial statements

Page 5

CATALYST NETWORK OF CHURCHES

BALANCE SHEET 31 December 2021

Unrestricted
funds
Notes
£
CURRENT ASSETS
Cash at bank
446,996
CREDITORS
Amounts falling due within one year
15
(512)
NET CURRENT ASSETS
446,484
TOTAL ASSETS LESS CURRENT
LIABILITIES
446,484
NET ASSETS
446,484
FUNDS
16
Unrestricted funds:
General fund
Designated funds
Restricted funds:
Festival
Support of churches
Ukraine fund
Development fund
Covid-19 fund
Business redevelopment fund
TOTAL FUNDS		 Restricted
funds
£
158,133
-
158,133
158,133
158,133		 2021
Total
funds
£
605,129
(512)
604,617
604,617
604,617
246,870
199,614
446,484
14,303
827
8,443
62,807
27,987
43,766
158,133
604,617		 2020
Total
funds
£
679,025
(36,004)
643,021
643,021
643,021
172,008
174,777
346,785
11,881
3,865
6,043
84,494
189,353
600
296,236
643,021

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

Page 6

continued...

CATALYST NETWORK OF CHURCHES

BALANCE SHEET - continued 31 December 2021

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on 7 July 2022 and were signed on its behalf by:

Andrew Gordon Simpkins - Trustee

The notes form part of these financial statements

Page 7

CATALYST NETWORK OF CHURCHES

CASH FLOW STATEMENT for the year ended 31 December 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Finance costs paid
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Interest received
Net cash provided by 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		 2021
£
(73,983)
(191)
(74,174)
278
278
(73,896)
679,025
605,129		 2020
£
77,598
(1,193)
76,405
1,023
1,023
77,428
601,597
679,025

The notes form part of these financial statements

Page 8

CATALYST NETWORK OF CHURCHES

NOTES TO THE CASH FLOW STATEMENT for the year ended 31 December 2021

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
Net (expenditure)/income for the reporting period (as per the Statement
of Financial Activities)
Adjustments for:
Interest received
Finance costs
(Decrease)/increase in creditors
Net cash (used in)/provided by operations		 2021
£
(38,404)
(278)
191
(35,492)
(73,983)		 2020
£
48,924
(1,023)
1,193
28,504
77,598

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.21 Cash flow At 31.12.21
£ £ £
Net cash
Cash at bank 679,025 (73,896) 605,129
679,025 (73,896) 605,129
Total 679,025 (73,896) 605,129

The notes form part of these financial statements

Page 9

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021

1. GENERAL INFORMATION

Catalyst Network of Churches is a private company limited by guarantee incorporated in England and Wales. The registered office is Hertford Place, Coventry, West Midlands, CV1 3JZ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with 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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Catalyst Network of Churches meets the definition of a public benefit entity under FRS 102.

Going concern

At the time of approving the financial statements, the trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.

Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

continued...

Page 10

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Expenditure

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

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.

Debtors

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

Cash at bank and ln hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

Financial instruments

continued...

Page 11

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Debtors

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.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In application of the charity's accounting policies, the trustees are required 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. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

4. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Donations
Grants
Other
Grants received, included in the above, are as follows:
New Life Church, Milton Keynes
King's Arms Trust, Bedford
Jubilee Church, Coventry
Covid support
Other grants		 2021
£
93,758
288,443
-
382,201
2021
£
23,700
20,492
9,960
-
234,291
288,443		 2020
£
245,565
692,514
81,126
1,019,205
2020
£
25,300
104,000
67,615
321,458
174,141
692,514

continued...

Page 12

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2021

5.
OTHER TRADING ACTIVITIES
Other income
6.
INVESTMENT INCOME
Deposit account interest
7.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Charitable activities
Advancement of the Christian Faith
8.
CHARITABLE ACTIVITIES COSTS
Advancement of the Christian Faith
9.
GRANTS PAYABLE
Advancement of the Christian Faith
The total grants paid to institutions during the year was as follows:
Support of churches		 Grant
funding of
activities
(see note
9)
£
359,733		 2021
£
-
2021
£
278
2021
£
54,015
Support
costs (see
note 10)
£
115,165
2021
£
359,733
2021
£
353,733		 2020
£
57,048
2020
£
1,023
2020
£
48,696
Totals
£
474,898		 2020
£
57,048
2020
£
1,023
2020
£
48,696
2020
£
698,686
2020
£
559,562

continued...

Page 13

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2021

10. SUPPORT COSTS

10.
SUPPORT COSTS
Information
Governance
Management
technology
costs
£
£
£
Advancement of the Christian Faith
110,490
2,260
2,415
Support costs, included in the above, are as follows:
2021
Advancement
of the
Christian
Faith
£
Wages and salaries
58,798
Social security
-
Pensions
934
Travel
277
Support and other office costs
11,474
Festival costs
38,816
Interest payable and similar charges
191
IT and computer costs
2,260
Auditors' remuneration
-
Independent examination
1,713
Legal and professional fees
702
115,165
11.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2021
£
Auditors' remuneration
-		 Totals
£
115,165
2020
Total
activities
£
119,199
1,193
6,417
5,426
43,372
193,647
1,193
2,766
2,900
-
2,249
378,362
2020
£
2,900

12. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

continued...

Page 14

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2021

12. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

During the year, expenses incurred on behalf of the charity to the value of £130 (2020: £444) were reimbursed to trustees in the year.

During the year, trustees donated £nil (2020: £2,000) to the charity.

13. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Central operations
No employees received emoluments in excess of £60,000.
14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
177,672
Charitable activities
Advancement of the Christian Faith
48,696
Other trading activities
57,048
Investment income
1,023
Total
284,439
EXPENDITURE ON
Charitable activities
Advancement of the Christian Faith
314,697
NET INCOME/(EXPENDITURE)
(30,258)
RECONCILIATION OF FUNDS
Total funds brought forward
377,043		 2021
£
58,798
-
934
59,732
2021
2
Restricted
funds
£
841,533
-
-
-
841,533
762,351
79,182
217,054
1,125,972
1,077,048
48,924
594,097

Page 15

continued...

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2021

14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
TOTAL FUNDS CARRIED FORWARD
346,785
296,236
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Other creditors
-
Accruals and deferred income
512
512
16.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1.1.21
in funds
funds
£
£
£
Unrestricted funds
General fund
172,008
64,792
10,070
Designated funds
174,777
79,907
(55,070)
346,785
144,699
(45,000)
Restricted funds
Festival
11,881
2,422
-
Support of churches
3,865
(3,038)
-
Ukraine fund
6,043
(2,600)
5,000
Development fund
84,494
(21,687)
-
Covid-19 fund
189,353
(80,349)
(81,017)
Business redevelopment fund
600
(77,851)
121,017
296,236
(183,103)
45,000
TOTAL FUNDS
643,021
(38,404)
-		 Total
funds
£
643,021
2020
£
32,004
4,000
36,004
At
31.12.21
£
246,870
199,614
446,484
14,303
827
8,443
62,807
27,987
43,766
158,133
604,617

Page 16

continued...

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2021

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated funds
Restricted funds
Festival
Support of churches
Ukraine fund
Development fund
Turkey fund
Covid-19 fund
Business redevelopment fund
TOTAL FUNDS		 Incoming
resources
£
148,096
180,250
328,346
17,446
35,499
9,400
-
2,500
15,162
28,141
108,148
436,494		 Resources
Movement
expended
in funds
£
£
(83,304)
64,792
(100,343)
79,907
(183,647)
144,699
(15,024)
2,422
(38,537)
(3,038)
(12,000)
(2,600)
(21,687)
(21,687)
(2,500)
-
(95,511)
(80,349)
(105,992)
(77,851)
(291,251)
(183,103)
(474,898)
(38,404)		 Resources
Movement
expended
in funds
£
£
(83,304)
64,792
(100,343)
79,907
(183,647)
144,699
(15,024)
2,422
(38,537)
(3,038)
(12,000)
(2,600)
(21,687)
(21,687)
(2,500)
-
(95,511)
(80,349)
(105,992)
(77,851)
(291,251)
(183,103)
(474,898)
(38,404)
144,699
2,422
(3,038)
(2,600)
(21,687)
-
(80,349)
(77,851)
(183,103)
(38,404)

Comparatives for movement in funds

Unrestricted funds
General fund
Designated funds
Restricted funds
Festival
Support of churches
Ukraine fund
Development fund
Covid-19 fund
Business redevelopment fund
TOTAL FUNDS		 At 1.1.20
£
148,556
228,487
377,043
128,313
827
13,371
74,543
-
-
217,054
594,097		 Net
movement
in funds
£
48,687
(78,945)
(30,258)
(116,432)
3,038
(7,328)
9,951
189,353
600
79,182
48,924		 Transfers
between
funds
£
(25,235)
25,235
-
-
-
-
-
-
-
-
-		 At
31.12.20
£
172,008
174,777
346,785
11,881
3,865
6,043
84,494
189,353
600
296,236
643,021

continued...

Page 17

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2021

16. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated funds
Restricted funds
Festival
Support of churches
Ukraine fund
Development fund
Turkey fund
Covid-19 fund
Business redevelopment fund
TOTAL FUNDS		 Incoming
resources
£
212,440
71,999
284,439
80,236
48,194
5,400
40,000
300
666,803
600
841,533
1,125,972		 Resources
expended
£
(163,753)
(150,944)
(314,697)
(196,668)
(45,156)
(12,728)
(30,049)
(300)
(477,450)
-
(762,351)
(1,077,048 )		 Movement
in funds
£
48,687
(78,945)
(30,258)
(116,432)
3,038
(7,328)
9,951
-
189,353
600
79,182
48,924

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated funds
Restricted funds
Festival
Support of churches
Ukraine fund
Development fund
Covid-19 fund
Business redevelopment fund
TOTAL FUNDS		 At 1.1.20
£
148,556
228,487
377,043
128,313
827
13,371
74,543
-
-
217,054
594,097		 Net
movement
in funds
£
113,479
962
114,441
(114,010)
-
(9,928)
(11,736)
109,004
(77,251)
(103,921)
10,520		 Transfers
between
funds
£
(15,165)
(29,835)
(45,000)
-
-
5,000
-
(81,017)
121,017
45,000
-		 At
31.12.21
£
246,870
199,614
446,484
14,303
827
8,443
62,807
27,987
43,766
158,133
604,617

continued...

Page 18

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2021

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 360,536 (247,057) 113,479
Designated funds 252,249 (251,287) 962
612,785 (498,344) 114,441
Restricted funds
Festival 97,682 (211,692) (114,010)
Support of churches 83,693 (83,693) -
Ukraine fund 14,800 (24,728) (9,928)
Development fund 40,000 (51,736) (11,736)
Turkey fund 2,800 (2,800) -
Covid-19 fund 681,965 (572,961) 109,004
Business redevelopment fund 28,741 (105,992) (77,251)
949,681 (1,053,602 ) (103,921)
TOTAL FUNDS 1,562,466 (1,551,946 ) 10,520

The general fund represents cumulative surpluses since inception and are the free reserves of the charity.

The trustees have designated certain amounts to enable support for a variety of key areas, to ring fence from normal unrestricted funds available to the charity.

Festival: This fund represents surpluses on the activities of the Festival.

Support of churches: The church planting fund is for specific gifts given for specific church plants that Catalyst is involved in. These grants are used to pay grants for these churches or to fund other support given to them.

Ukraine fund: Catalyst is working with a number of churches based in Ukraine. These funds are used to support those churches.

Development fund: These funds are used to support New Frontiers churches and apostolic bases in the UK and overseas.

Turkey fund: These funds are used to enable the training of church leaders to equip them to fulfil their roles and support their churches.

Covid-19 fund: These funds are used to provide emergency food and medical relief to some of the poorest people affected by local Covid restrictions. Grants were made to over 70 churches/organisations in over 30 countries.

Business redevelopment fund: These funds are to help regenerate business adversely affected by the Covid-19 pandemic.

continued...

Page 19

CATALYST NETWORK OF CHURCHES

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2021

17. RELATED PARTY DISCLOSURES

Grants totalling £23,700 (2020: £25,300) were received from, and grants totalling £19,115 (2020: £19,328) were paid to New Life Church Milton Keynes, where Richard Wightman is a Trustee.

Grants totalling £nil (2020: £nil) were received from, and grants totalling £16,000 (2020: £nil) were paid to New Frontiers International Trust Limited, where Martin Eaton is a Trustee.

Grants totalling £20,492 (2020: £104,000) were received from, and grants totalling £12,922 (2020: £15,434) were paid to King's Arms Trust (Bedford), where Roydon Loveley and Simon Holley are Trustees.

Grants totalling £9,960 (2020: £67,615) were received from Jubilee Church, Coventry, where Andrew Simpkins is a Trustee.

Page 20

CATALYST NETWORK OF CHURCHES

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Other
Other trading activities
Other income
Investment income
Deposit account interest
Charitable activities
Charitable activities
Total incoming resources
EXPENDITURE
Charitable activities
Grants to institutions
Grants to individuals
Support costs
Management
Wages and salaries
Social security
Pensions
Travel
Support and other office costs
Festival costs
Finance costs
Information technology
IT and computer costs
Governance costs
Auditors' remuneration
Carried forward		 2021
£
93,758
288,443
-
382,201
-
278
54,015
436,494
353,733
6,000
359,733
58,798
-
934
277
11,474
38,816
191
110,490
2,260
-
-		 2020
£
245,565
692,514
81,126
1,019,205
57,048
1,023
48,696
1,125,972
559,562
139,124
698,686
119,199
1,193
6,417
5,426
43,372
193,647
1,193
370,447
2,766
2,900
2,900

This page does not form part of the statutory financial statements

Page 21

CATALYST NETWORK OF CHURCHES

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2021

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 December 2021
Governance costs
Brought forward
Independent examination
Legal and professional fees
Total resources expended
Net (expenditure)/income		 2021
£
-
1,713
702
2,415
474,898
(38,404)		 2020
£
2,900
-
2,249
5,149
1,077,048
48,924

This page does not form part of the statutory financial statements

Page 22