| Trustees | MrChristopher Large(Chair) | |
|---|---|---|
| MrStephen Puttock | ||
| Mrs Melanie Churchyard | (Appointed9October 2020) | |
| Mr RobertPeake | (Appointed 16 January 2021) | |
| cEo | Mrs Melanie Churchyard | |
| Charitynumber | 1153327 | |
| Companynumber | 08635189 | |
| Principaladdress | 40 ChapelRoad | |
| Pawlett | ||
| Bridgwater | ||
| Somerset | ||
| T464SH | ||
| Registeredoffice | 40 ChapelRoad | |
| Pawlett | ||
| Bridgwater | ||
| Somerset | ||
| TA64SH | ||
| Auditor | CaladineLimited | |
| ChantryHouse | ||
| 22UppertonRoad | ||
| Eastbourne | ||
| East Sussex | ||
| BN211BF | ||
| Bankens | NatWest Bank plc | |
| 96TerminusRoad | ||
| Eastbourne | ||
| BN213AA | ||
| Solicitors | Lawson Lewis Blakers | |
| 11Hyde Gardens | ||
| Eastbourne | ||
| East Sussex | ||
| BN214PP | ||
| lnvestmentManager | RathboneInvestment Management | |
| 8 Finsbury Circus | ||
| London | ||
| EC2M7M | ||
| Savills lnvestment Management | ||
| 33 Margaret Street | ||
| London | ||
| W1GOJD | ||
| Property agents | Ross&Co. Property ManagementLtd | |
| PacificHouse | ||
| Sovereign Harbour lnnovationPark | ||
| Eastbourne,BN236FA |
| Page | |
|---|---|
| Trustees'report | 1-5 |
| Independent auditor's report | 6-8 |
| Statementoffinancial activities | 9-10 |
| Statementoffinancial position | 11 |
| Statement of cash flows | 12 |
| Notestothefinancialstatements | 13-27 |
| Currentfinancialyear | ||||||
|---|---|---|---|---|---|---|
| Unrestricted Unrestricted | Total | Total | ||||
| funds | funds |
|||||
| generaldesignated 2020 2020 |
2020 | 2019 | ||||
| Notes | eg | € | e | |||
| lncomefrom: | ||||||
| Donations and legacies | 3 | 500 | 500 | 23,750 | ||
| lnvestment property income | 4 | 146,517 | 146,517 | 228,534 | ||
| lnvestments | 5 | 169,401 | 169,401 | 174,788 | ||
| Other income | 6 | 3,883 | 38,052 | 41,935 | 6,056 | |
| Totalincome | 320,30138,052 | 358,353433,128 | ||||
| Exoenditure on: | ||||||
| Raisingfunds | 7 | 59,117 | 59,117 | 85,9s9 | ||
| Charitable activities | 8 | 619,510 | 619,510 | 422,681 | ||
| Total resources expended | 678,627 | 678,627508,640 | ||||
| Netgains/(losses) on investments | 13 | 65,051 | 65,051390,414 | |||
| Net(outgoing)/incomingresources before transfens |
(358,326)103,103 | (2ss,223)314,902 | ||||
| Gross transfers between funds | 1,254,196 | (1,254,196) | ||||
| Netmovement infunds | 895,870 | (1,151,093) | (255,223)314,902 | |||
| Fund balancesat 1January2020 | 363,885 | 9,945,872 | 10,309,757 | 9,994,855 | ||
| Fund balances at31 December2O2O | 1,259,755 | 8,794,779 | 10,054,534 | 10,309,757 | ||
| : |
| Priorfinancialyear | ||||
|---|---|---|---|---|
| UnrestrictedUnrestricted | Total | |||
| funds | funds | |||
| generaldesignated 2019 2019 |
2019 | |||
| Notes | €€ | E | ||
| lncomefrom: | ||||
| Donations and legacies | 3 | 23,750 | 23,750 | |
| lnvestment property income | 4 | 228,534 | 228,534 | |
| lnvestments | 5 | 174,788 | 174,788 | |
| Other income | 6 | 6,056 | 6,0s6 | |
| Total income | 433,128 | 433,128 | ||
| Exoenditure on: | ||||
| Raisingfunds | 7 | 85,959 | 85,959 | |
| Charitable activities | 8 | 422,681 | 422,681 | |
| Total resources expended | 508,640 | 508,640 | ||
| Netgains/(losses) on investments | l3 | 390,414390,414 | ||
| Net(outgoin g)/incomingresources beforetransfers | (75,512) | 390,414314,902 | ||
| Gross transfers between funds | (125,437) | 125,437 | ||
| Netmovement infunds | (200,949)515,851314,902 | |||
| Fundbalancesat1January 2019 | 564,8349,430,021 | 9,994,855 | ||
| Fund balancesat 31December2019 | _j'.':ty:1,'1'' |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | I | f | € | I | |
| Fixed assets | |||||
| Property, plant and equipment | 14 | 179,704 | |||
| lnvestment properties | 15 | 2,408,500 | 4,199,750 | ||
| lnvestments | 16 | 6,268,599 | 5,444,222 | ||
| Mixed motive investments | 17 | 117,680 | 122,196 | ||
| 8,794,779 | 9,945,872 | ||||
| Current assets | |||||
| Trade and other receivables | 18 | 32,674 | 5,019 | ||
| Cash at bank and inhand | 1,266,268 | 383,875 | |||
| 1,298,942 | 388,894 | ||||
| Currentliabilities | 20 | (3e,187) | (25,00e) | ||
| Netcurrent assets | 1,259,755 | 363,885 | |||
| Totalassetslesscurrent liabilities | 10,054,534 | lfI{I | |||
| lncomefunds | |||||
| Unrestricted funds-designated | 22 | 8,794,779 | 9,945,872 | ||
| Unrestricted funds-general | 1,259,755 | 363,885 | |||
| 10,054,534 | 10,309,757 | ||||
| The statements were approvedby theTrusteeson |
/'l"l}t |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | f | € | t | g | |
| Cashflows from operating activities | |||||
| Cash absorbed by operations | 26 | (536,688) | (102,479) | ||
| lnvesting activities | |||||
| Proceedsondisposal of property, plant | |||||
| and equipment | 217,756 | ||||
| Proceeds on disposal of investment | |||||
| property | 1,883,991 | 510,385 | |||
| Purchaseofother investments | (1,377,472) | (1,875,440) | |||
| Proceedsondisposalofother investments | 525,405 | 1,080,291 | |||
| lnvestment income received | 169,401 | 174,788 | |||
| Netcash generatedfrom/(usedin) | |||||
| investing activities | 1,419,081 | (109,976) | |||
| Netcash used infinancing activities | |||||
| Netincrease/(decrease) in cash and cash | |||||
| equivalents | 882,393 | (212,4s5) | |||
| Cash and cash equivalents at beginningofyear | 383,875 | 596,330 | |||
| Gashand cashequivalentsat end ofyear | 1,266,268 | _'*f1 |
| UnrestrictedUnrestricted | UnrestrictedUnrestricted | |
|---|---|---|
| funds | funds | |
| general 2020 |
general 2019 |
|
| ff | ||
| Donations and gifts | 500 | 23,750 |
| : |
| UnrestrictedUnrestricted | UnrestrictedUnrestricted | |
|---|---|---|
| funds general 2020 €c |
funds general 2019 |
|
| Rentalincome | 146,517 | ':'*: |
| UnrestrictedUnrestricted | UnrestrictedUnrestricted | |
|---|---|---|
| funds | funds | |
| general 2020 |
general 2019 |
|
| €f | ||
| lncome from listed investments | 129,245 | 147,662 |
| lnterest receivable | 40,156 | 27,126 |
| 169,401 | 174,788 |
| Unrestricted Unrestricted | Unrestricted Unrestricted | TotalUnrestricted | TotalUnrestricted | |
|---|---|---|---|---|
| funds | funds | funds | ||
| generaldesignated 2020 2020 f,€ |
2020 €t |
general 2019 |
||
| Netgain on disposaloftangible fixed assets | 38,052 | 38,052 | ||
| Other income | 3,056 | |||
| Employment allowance received | 3,883 | 3,883 | 3,000 | |
| 3,883 | 38,052 | 41,935 | 6,056 | |
| : |
| UnrestrictedUnrestricted | UnrestrictedUnrestricted | |
|---|---|---|
| funds | funds | |
| general 2020 |
general 2019 |
|
| fE | ||
| lnvestment orooertvexDenses | ||
| Property overheads and management | 23,075 | 34,436 |
| Share of Support costs (see note10) | 5,380 | 19,050 |
| Investment property exoenses | 28,455 | 53,486 |
| Investment management fees | 30,662 | 32,473 |
| y!: | ifI | |
| Prooerty overheads and management | ||
| Rates | 2,290 | 11,278 |
| Light and heat | 592 | 376 |
| Repairs and maintenance | 4,358 | 2,674 |
| Legal and professional | 8,543 | 14,943 |
| lnsurance | 6,521 | 5,026 |
| Sundries | 773 | 140 |
| ,:y: | 34,436 |
| 2020 | 2019 | |
|---|---|---|
| € | e | |
| Grant fundingofactivities (see note9) | 513,030 | 316,875 |
| Share of support costs (see note10) | 62,212 | 89,574 |
| Shareofgovernancecosts (see note10) | 44,268 | 16,232 |
| 619,510 | 422,681 | |
| Grants payable | ||
| 2020 € |
2019f | |
| Grants toinstitutions: | ||
| Amano School-Zambia | 12,000 | |
| Azalea | 10,000 | |
| Bible Educational Service | 10,500 | |
| BritishYouthfor Christ | 10,000 | |
| CCFON | 10,000 | 3,000 |
| CRY | 10,000 | |
| EvangelicalAlliance | 10,000 | |
| lgreja Baptist Church | 23,750 | |
| lmago Dei Prison Ministry | 10,000 | 9,000 |
| KingsCommunity Church | 10,000 | |
| LAMA Ministries | 15,000 | |
| Life Bridging Works | 12,000 | |
| Lifewords | 10,000 | 16,000 |
| Middle EastMedia | 12,500 | |
| OfftheFence | 82,000 | 19,500 |
| Orphaids | 6,000 | |
| SAT7UK | 10,000 | |
| SoldiersandAirmen's ScriptureReadingAssociation | 15,000 | 2,500 |
| Sporting Marvels | 5,000 | |
| Stand byMe | 10,000 | |
| Youthscape | 10,000 | |
| Misc. gifts between e5,000ande9,999 | 153,030 | 102,775 |
| Misc. gifts between €3,000andf4,999 | 76,500 | 15,000 |
| Misc. giftsnotexceedingf2,999 | 54,000 | 34,850 |
| Other | 30,000 | |
| 513,030 | 316,875 |
| Support costs | ||||||
|---|---|---|---|---|---|---|
| SupportGovernance costs costs [[ |
Total 2020 E |
SupportGovernance costs costs €e |
Total 2019 e |
|||
| Staffcosts | 48,423 | 5,381 | 53,804 | 66,839 | 4,540 | 71,379 |
| Depreciation | 2,530 | 2,530 | ||||
| Computer expenses | 1,201 | 1,201 | 1,340 | 1,340 | ||
| Rentandrates | 13,213 | 13,213 | 29,146 | 29,146 | ||
| Repairs and renewals | 818 | 818 | 720 | 720 | ||
| Telephone | 704 | 704 | 598 | 598 | ||
| Printing and postage | 896 | 896 | 1,869 | 1,869 | ||
| Travel costs | 329 | 329 | 1,466 | 1,466 | ||
| Sundries | 2,008 | 2,008 | 4,116 | 4,116 | ||
| Audit fees | 5,682 | 5,682 | 5,220 | 5,220 | ||
| Accountancy | 6,106 | 6,106 | 3,787 | 3,787 | ||
| Legalandprofessional | 25,998 | 25,998 | ||||
| Trustee meeting costs | 1,101 | 1,101 | 2,685 | 2,685 | ||
| 67,592 | 44,268 | 111,860 | 108,624 : |
:'" | 124,856 | |
| Analysed between | ||||||
| Raisingfunds | 5,380 | 5,380 | 19,050 | 19,050 | ||
| Charitable activities | 62,212 | 44,26; | 106,480 | 89,574 | 16,232 | 105,806 |
| 67,592 | 44,268 | 111,860 | 108,624 | 16,232 | yt* |
| 2020 | 2019 | |
|---|---|---|
| Number | Number | |
| Administration | 3 | |
| Employmentcosts | 2020 | 2019 |
| f | c | |
| Wages and salaries | 47,055 | 63,892 |
| Socialsecuritycosts | 4,665 | 5,185 |
| Other pension costs | 2,084 | 2,302 |
| 53,804 | 71,379 |
| UnrestrictedUnrestricted | UnrestrictedUnrestricted | |
|---|---|---|
| funds | funds | |
| designateddesignated 2020 2019 |
||
| EE | ||
| Revaluation of investments | 30,749 | 431,934 |
| Gain/(loss)onsale of investments | (58,439) | 53,095 |
| Revaluation of investment properties | 25,000 | (102,500) |
| Gain/(loss) on sale of investment properties | 67,741 | 7,885 |
| 65,051 | 390,414 |
| Property, plant andequipment | |||
|---|---|---|---|
| Freehold | Fixtures, | Total | |
| landand fittingsand buildingsequipment €E |
E | ||
| Cost | |||
| At1January 2020 | 189,824 | 4,361 | 194,185 |
| Disposals | (18e,824) | (189,824) | |
| At31December2O2O | 4,361 | 4,361 | |
| Depreciation andimpairment | |||
| At1January 2020 | 10,120 | 4,361 | 14,481 |
| Eliminated in respectofdisposals | (10,120) | (10,12o) | |
| At31December2O2O | 4,361 | 4,361 | |
| Carryingamount | |||
| At31December2020 | |||
| At31December2019 | 179,704 | 179,704 | |
| lnvestment property | |||
| 2020 | |||
| € | |||
| Fairvalue | |||
| At1January 2020 | 4,199,750 | ||
| Disposals | (1,816,250) | ||
| Netgains orlossesthrough fair value adjustments | 25,000 | ||
| At31December2020 | 2,408,500 |
| Listed | |
|---|---|
| investments | |
| € | |
| Cost orvaluation | |
| At1January 2020 | 5,444,222 |
| Additions | 1,377,472 |
| Valuation changes | 30,749 |
| Disposals | (583,844) |
| At31December2O20 | 6,268,599 |
| Carryingamount | |
| At31December202O | 6,268,599 |
| € | |
|---|---|
| At1January 2020 | 122,196 |
| lnterest | 6,007 |
| Repayments | (10,523) |
| At31December2O2O | 117,680 |
| Tradeandotherreceivables | ||
|---|---|---|
| 2020 | 2019 | |
| Amounts fallingduewithinone year: | E | f |
| Trade receivables | 29,216 | 5,019 |
| Prepayments and accrued income | 3,458 | |
| 32,674 | 5,019 |
| Current liabilities | ||
|---|---|---|
| 2020 | 2019 | |
| € | f | |
| Other taxation and social security | 309 | 58 |
| Payments received on account | 22,125 | |
| Other payables | 4,747 | |
| Accruals and deferred income | 16,753 | 20,204 |
| 39,187 | _i*i |
| Balanceat | TransfersRevaluations,Balanceat | TransfersRevaluations, | TransfersRevaluations, | Balanceat | |
|---|---|---|---|---|---|
| 1January2019 | gainsandlJanuary2020 losses |
gainsand31 December losses 2020 |
|||
| € | €€E | €€€ | |||
| FixedAsset | |||||
| lnvestment | |||||
| Fund | 9,430,021 : |
125,437390,4149,945,872(1,254,196) | 103,1038,794,779 |
| Analysis ofnet assets | betweenfunds | betweenfunds | ||||
|---|---|---|---|---|---|---|
| UnrestrictedDesignated funds funds |
TotalUnrestricted funds |
Designated funds |
Total | |||
| 2020 €t |
2020 |
2020 €e |
2019 | 2019 I |
2019 e |
|
| Fund balances are representedby: | ||||||
| Property, plantand | ||||||
| equipment | 179,704 | 179,704 | ||||
| lnvestment properties | 2,408,500 | 2,408,500 | 4,199,750 | 4,199,750 | ||
| lnvestments | 6,268,599 | 6,268,599 | 5,444,222 | 5,444,222 | ||
| Mixed motive | ||||||
| investments | 117,680 | 117,680 | 122,196122,196 | |||
| Current assets/ | ||||||
| (liabilities) | 1,259,755 | 1,259,755 | 363,885 | 363,885 | ||
| 1,259,755 | 8,794,779 | 10,054,534 | 363,885 | 9,945,872 | 10,309,757 |
| 2020 € |
2019I | |
|---|---|---|
| Withinoneyear | 2,884 | 600 |
| Between twoandfive years | 960 | 1,400 |
| 3,844 | -iI |
| 2020 | 2019 | |
|---|---|---|
| e | f, | |
| \Mthinoneyear | 148,500 | 89,575 |
| Between twoandfive years | 410,500 | 177,000 |
| i1'* | 266,575 |
| 2020 | 2019 | ||
|---|---|---|---|
| I | e | ||
| Aggregate compensation | 49,920 | 45,397 | |
| : |
| 26 | Gashgeneratedfrom operations | 2020 | 2019 |
|---|---|---|---|
| f | e | ||
| (Deficit)/surplus for the year | (255,223) | 314,902 | |
| Adjustmentsfor: | |||
| lnvestment income recognisedinstatementoffinancialactivities | (16e,401) | (174,788) | |
| Gainondisposal ofproperty,plant and equipment | (38,052) | ||
| Gainondisposalofinvestment property | (67,741) | (7,885) | |
| Loss/(gain) on disposal of investments | 58,439 | (53,095) | |
| Fairvalue gains and losses on investment properties | (25,000) | 102,500 | |
| Fairvalue gains and losses on investments | (30,74e) | (431,934) | |
| Depreciation and impairment of property, plant and equipment | 2,530 | ||
| Movementsinworkingcapital: | |||
| (lncrease)/decreaseinmixed motive investments | 4,516 | 156,796 | |
| (lncrease)/decreaseintrade and other receivables | (27,655) | 33,410 | |
| lncrease/(decrease)intrade and other payables | 14,178 | (44,915) | |
| Cash absorbed byoperations | (536,688) | (102,479) | |
| 27 | Analysis ofchanges innetfunds | ||
| The Trust hadnodebt during the year |