2021-12-31-accounts

Trustees			Mr Christopher Large	Mr Christopher Large	(Chair)
			Mr Stephen Puttock
			Mrs Melanic Churchyard
			Mr Robert Peake				(Appointed	16January 2021)
			Ms Janice Kalyan				(Appointed	14January 2022)
CEO			Mrs Melanic Churchyard
Charity number			1153327
Company	number		08635189
Principal address			40 Chapel Road
			Pawlett
			Bridgwater
			Somerset
			TA6 4SH
Registered		office	40 Chapel Road
			Pawlett
			Bridgwater
			Somerset
			TA6 4SH
Auditor			Caladine Limited
			Chantry House
			22 Upperton Road
			Eastbourne
			East Sussex
			BN21 1BF
Bankers			NatWest Bank pic
			96Terminus Road
			Eastbourne
			BN21 3AA
Solicitors			Lawson Lewis Blakers
			11 Hyde Gardens
			Eastbourne
			East Sussex
			BN21 4PP
Investment		Manager	Rathbone Investment		Management
			8 Finsbury Circus
			London
			EC2M 7AZ
			Savills Investment	Management
			33Margaret Street
			London
			W1G OJD
Property	agents		Ross &Co. Property		Management		Ltd
			Pacific House
			Sovereign Harbour		Innovation	Park
			Eastbourne, BN23	6FA

			Page
Trustees'	report		1-4
Statement	ofTrustees'	responsibilities
Independent auditor's		report	6-8
Statement	offinancial	activities
Statement	offinancial	position
Statement	ofcash flows		12
Notes to the financial statements			13-26

Current financial year	Current financial year	Current financial year
					Unrestricted	Unrestricted		Total	Total
					funds		funds
					general		designated
				Notes	2021		2021f	2021 E	2020 K
~ln ~mf~rm:
Donations and	legacies				6,000			6,000	500
Investment property					173,510			173,510	146,517
Investments					195,280			195,280	169,401
Other income					4,117			4,117	41,935
Total income					378,907			378,907	358,353
Ex endi re on:
Raising funds					49,268			49,268	59,118
Charitable activities					724,690			724,690	619,509
Total expenditure					773,958			773,958	678,627
Net gains/(losses)		on investments		13			813,073	813,073	65,051
Net outgoing	resources		before transfers		(395,051)		813,073	418,022	(255,223)
Gross transfers	between		funds		(200,318)		200,318
Net movement	in	funds			(595,369)		1,013,391	418,022	(255,223)
Fund balances	at 1 January 2021				1,259,755		8,794,779	10,054,534	10,309,757
Fund balances at		31 December 2021			664,386		9,808,170	10,472,556	10,054,534

					Unrestricted	Unrestricted	Total
					funds	funds
					general	designated
					2020	2020	2020
				Notes		K	E
Income from:
Donations and	legacies				500		500
Investment property					146,517		146,517
Investments					169,401		169,401
Other income					3,883	38,052	41,935
Total income					320,301	38,052	358,353
Ex enditure on:
Raising funds					59,118		59,118
Charitable activities					619,509		619,509
Total expenditure					678,627		678,627
Net gains/(losses)		on investments		13		65,051	65,051
Net outgoing	resources		before transfers		(358,326)	103,103	(255,223)
Gross transfers	between		funds		1,254,196	(1,254,196)
Net movement	in	funds			895,870	(1,151,093)	(255,223)
Fund balances	at 1 January 2020				363,885	9,945,872	10,309,757
Fund balances	at	31 December 2020			1,259,755	8,794,779	10,054,534

			2021	2020
		Notes	K	F
Fixed assets
Investment properties		15	2,483,500	2,408,500
Investments		16	7,211,735	6,268,599
Mixed motive	investments	17	112,935	117,680
			9,808,170	8,794,779
Current assets
Trade and other receivables		18	3,840	32,674
Cash at bank	and in hand		777,817	1,266,268
			781,657	1,298,942
Current liabilities		20	(72,271)	(39,187)
Net current assets			709,386	1,259,755
Total assets	less current liabilities		10,517,556	10,054,534
Non-current	liabilities	21	(45,000)
Net assets			10,472,556	10,054,534
Income funds
Unrestricted	funds - designated	23	9,808,170	8,794,779
Unrestricted	funds - general		664,386	1,259,755
			10,472,556	10,054,534

					2021		2020
				Notes			f'
Cash flows from operating	activities
Cash absorbed by operations				27		(478,668)		(536,688)
Investing activities
Proceeds on disposal of property,		plant		and
equipment							217,756
Proceeds on disposal of investment			property				1,883,991
Purchase ofother investments					(483,972)		(1,377,472)
Proceeds on disposal ofother investments					278,909		525,405
Investment income received					195,280		169,401
Net cash (used in)/generated from
investing activities						(9,783)		1,419,081
Net cash used in financing	activities
Net (decrease)/increase in	cash	and		cash
equivalents						(488,451)		882,393
Cash and cash equivalents	at beginning			ofyear		1,266,268		383,875
Cash and cash equivalents	at end		of	year		777,817		1,266,268

Unrestricted	Unrestricted
funds	funds
general	general
2021	2020
E	E
6,000	500

Unrestricted	Unrestricted
funds	funds
general	general
2021	2020
E	E
173,510	146,517

		Unrestricted	Unrestricted
		funds	funds
		general	general
		2021	2020
Income	from listed investments	187,662	129,245
Interest	receivable	7,618	40,156
		195,280	169,401

				Unrestricted	Unrestricted	Unrestricted	Total
				funds	funds	funds
				general	general	designated
				2021	2020	2020	2020
				K		E
Net gain on	disposal of	tangible	fixed assets			38,052	38,052
Employment	allowance	received		4,117	3,883		3,883
				4,117	3,883	38,052	41,935

						Unrestricted	Unrestricted
						funds	funds
						general	general
						2021	2020
						E	E
investment		ro e	ex	enses
Property	overheads		and	management		7,861	23,076
Share of	Support costs (see note 10)					5,819	5,380
Investment		ro ert	ex	enses		13,680	28,456
Investment		management		fees		35,588	30,662
						49,268	59,118
Pro ert	overheads		and	mana	ement
Rates						2,290	11,278
Light and	heat					592	376
Repairs and maintenance						4,358	2,674
Legal and		professional				8,543	14,943
Insurance						6,521	5,026
Sundries						773	140
						7,861	23,076

			2021	2020
			E
Grant funding ofactivities (see note 9)			652,500	513,030
Share ofsupport costs (see note 10)			55,638	62, 112
Share ofgovernance		costs (see note 10)	16,552	44,367
			724,690	619,509
Grants payable
			2021	2020
			E
Grants to institutions:
OffThe Fence			165,000	82,000
Bible Reading Fellowship			45,000
Essential Christian			40,000
Emmanuel	Press		35,000
MAF UK			20,000
Befriending			15,000
Innovista			15,000
International	Needs		15,000
Lifeworks			15,000
Wycliffe Bible Translators			15,000
SASRA			10,000	15,000
Misc. gifts	between f10,000 and f14,999		90,000	132,500
Misc. gifts	between E5,000 and E9,999		121,500	182,030
Misc. gifts	betweem	E3,000F4,999	34,000	43,500
Grants not	exceeding	f2,999	17,000	58,000
			652,500	513,030

10	Support costs
		Support	Governance	Total Support		costs	Governance	Total
		costs	costs	2021			costs	2020
		f	E	E		F	F	F
	Staff costs	52,375	5,819	58,194	48,423		5,381	53,804
	Computer expenses	1,065		1,065		1,201		1,201
	Rent and rates	3,906		3,906		13,213		13,213
	Repairs and renewals	767		767		818		818
	Telephone	1,058		1,058		704		704
	Printing and postage	932		932		896		896
	Travel costs	127		127		229		229
	Sundries	1,227		1,227		2,008		2,008
	Audit fees		5,580	5,580			5,682	5,682
	Accountancy		2,100	2,100			6,106	6,106
	Legal and professional		1,392	1,392			25,998	25,998
	Trustee meeting costs		1,661	1,661			1,200	1,200
		61,457	16,552	78,009		67,492	44,367	111,859
	Anal sed between
	Raising funds	5,819		5,819		5,380		5,380
	Charitable activities	55,638	16,552	72,190		62,112	44,367	106,479
		61,457	16,552	78,009		67,492	44,367	111,859

		2021	2020
		Number	Number
Administration
Employment	costs	2021	2020
Wages and salaries		50,010	46,305
Social security	costs	5,683	5,184
Other pension	costs	2,501	2,315
		58,194	53,804

					Unrestricted	Unrestricted
					funds	funds
					designated	designated
					2021	2020
					E	E
Revaluation	of	investments			721,023	30,749
Gain/(loss)	on	sale of investments			17,050	(58,439)
Revaluation	of	investment	properties		75,000	25,000
Gain/(loss)	on	sale of investment		properties		67,741
					813,073	65,051

14	Property, plant and equipment	Property, plant and equipment
			Fixtures, fittings and
			equipment
	Cost
	At 1 January 2021		4,361
	At 31 December 2021		4,361
	Depreciation and impairment
	At 1 January 2021		4,361
	At 31 December 2021		4,361
	Carrying amount
	At 31 December 2021
	At 31 December 2020
15	Investment property
			2021
			F
	Fair value
	At 1 January 2021		2,408,500
	Net gains or losses through	fair value adjustments	75,000
	At 31 December 2021		2,483,500

	Listed
	investments
	F
Cost or valuation
At 1 January 2021	6,268,599
Additions	483,972
Valuation changes	721,023
Disposals	(261,859)
At 31 December 2021	7,211,735
Carrying amount
At 31 December 2021	7,211,735
INixed motive investments
At 1 January 2021	117,681
Interest	5,777
Repayments	(10,523)
At 31 December 2021	112,935

Trade and other receivables
	2021	2020
Amounts falling due within one year:	E
Trade receivables	119	29,216
Prepayments and accrued income	3,721	3,458
	3,840	32,674

				2021
	Other taxation	and social security		333	309
	Payments received on		account		22,125
	Other payables			55,000
	Accruals and	deferred	income	16,938	16,753
				72,271	39,187
21	Non-current	liabilities
				2021	2020
					F
	Other payables			45,000

	Balance at	Balance at	Transfers	Revaluations,	Balance at	Balance at	Transfers	Revaluations,	Balance at
	1 January	2020		gains and1	January	2021		gains and	31 December
				losses				losses	2021
								E
Fixed Asset
Investment
Fund	9,945,872		(1,254,196)	103,103	8,794,779		200,318	813,073	9,808,170

Analysis	of net assets between funds	of net assets between funds
	Unrestricted		Designated	Total	Unrestricted	Designated	Total
		funds	funds		funds	funds
		2021	2021	2021	2020	2020	2020
		E			E	F
Fund balances are represented		by:
Investment	properties		2,483,500	2,483,500		2,408,500	2,408,500
Investments			7,211,735	7,211,735		6,268,599	6,268,599
Mixed motive
investments			112,935	112,935		117,680	117,680
Current assets/(liabilities)		709,386		709,386	1,259,755		1,259,755
Long term	liabilities	(45,000)		(45,000)
		664,386	9,808,170	10,472,556	1,259,755	8,794,779	10,054,534

	2021	2020
	K	E
Within one year	480	2,884
Between two and five years	480	960
	960	3,844

	2021	2020
	f.
Within one year	148,500	148,500
Between two and five years	262,000	410,500
	410,500	559,000

		2021	2020
Aggregate	compensation	54,076	49,920

27	Cash generated from operations			2021	2020
					E
	Surplus/(deficit) for the year			418,022	(255,223)
	Adjustments for:
	Investment income recognised in statement	offinancial	activities	(195,280)	(169,401)
	Gain on disposal of property, plant and equipment				(38,052)
	Gain on disposal of investment property				(67,741)
	(Gain)/loss on disposal of investments			(17,050)	58,439
	Fair value gains and losses on investment	properties		(75,000)	(25,000)
	Fair value gains and losses on investments			(721,023)	(30,749)
	Movements in working capital:
	Decrease/(increase) in mixed motive investments			4,746	4,516
	Decrease/(increase) in trade and other receivables			28,833	(27,655)
	Increase in trade and other payables			78,084	14,178
	Cash absorbed by operations			(478,668)	(536,688)
28	Analysis ofchanges in net funds
	The Trust had no debt during the year.