2020-12-31-accounts - The Vincent Society

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

								31.12,20	31,12.19
					Unrestricted	Restricted	Endowment	Total	Total
					funds	fund	fund	funds	funds
				Notes	E
INCOME AND
ENDOWMENTS		FROM
Donations and legacies					482,253	61,048		543,301	694,721
Charitable activities
individuals					6,339			6,339	10,252
Churches					6,652			6,652	38,913
Annual conference					5,128			5,128	43,465
Shoresh tours									3,800
Subscription fee					18,145			18,145	16,865
Other trading activities					20,069			20,069	22,839
Investment income					3,583			3,583	5,103
Other income					54,226			54,226	422
Total					596,395	61,048		657,443	836,380
EXPENDITURE	ON
Raising funds					35,424			35,424	31,150
Charitable activities
Israel					90,000	55,997		145,997	108,002
United Kingdom					221,190	14,452		235,642	329,024
Other					201,564			201,564	197,249
Total					548,178	70,449		618,627	665,425
Net gains on investments					77,948			77,948	58,497
NET
INCOME/(EXPENDITURE)					126,165	(9,401)		116,764	229,452
Transfers between			funds	23	~IQ,QQQ)	10,000
Other recognised		gains/(losses)
Actuarial gains/(losses) benefit schemes			on defined		~13,423)			~13,423)	~II,318)
Net movement	in	funds			102,740	599		103,339	218,134
RECONCILIATION			OF
FUNDS
Total funds brought			forward		1,198,176	2,353	566,367	1,766,896	1,548,762

					31,12.20	31.12.19
		Unrestricted	Restricted	Endowment	Total	Total
		funds	fund	fund	funds	funds
	Notes
TOTAL FUNDS CARRIED
FORWARD		1,300,916	2,952	566,367	1,870,235	1,766,896

Balance Sheet
31 December 2020
				31.12.20	31.12.19
			Notes
FIXEDASSETS
Tangible assets			15	346,885	345,122
Investments			16	889,031	812,205
				1,235,916	1,157,327
CURRENT ASSETS
Stocks			17	13,671	10,723
Debtors			18	28,270	25,189
Cash at bank and in	hand		19	756,235	739,496
				798,176	775,408
CREDITORS
Amounts falling due	within	one year	20	(28,757)	(29,439)
NET CURRENT ASSETS				769,419	745,969
TOTAL ASSETS	LESS	CURRENT
LIABILITIES				2,005,335	1,903,296
PENSION LIABILITY			24	(135,100)	(136,400)
NET ASSETS				1,870,235	1,766,896
FUNDS			23
Unrestricted funds:
General funds				636,016	734,576
Unrestricted pension	reserve			(135,100)	(136,400)
Minimum reserves				300,000	200,000
Succession g reorganisation				500,000	400,000
				1,300,916	1,198,176
Restricted funds				2,952	2,353
Endowment funds				566,367	566,367
TOTAL FUNDS				1,870,235	1,766,896

Cash Flow Statement
for the Year Ended 31 December 2020
		31.12.20	31.12.19
	Notes
Cash flows from operating activities
Cash generated from operations		21,272	180,730
Net cash provided by operating activities		21,272	180,730
Cash flows from investing activities
Purchase of tangible fixed assets		(7,433)	(4,168)
Purchase of fixed asset investments		(513)	(322)
Sale of fixed asset investments		1,635	1,778
Interest received		1,778	2,027
Net cash used in investing activities			~685)
Change in cash and cash equivalents	in the
reporting period		16,739	180,045
Cash and cash equivalents at the beginning
ofthe reporting period		739,496	559,451
Cash and cash equivalents at the end	of
the reporting period		755,235	739,496

	RECONCILIATION	RECONCILIATION		OF	NET	NET	INCOME TO NET CASH FLOW FROM OPERATING	INCOME TO NET CASH FLOW FROM OPERATING	INCOME TO NET CASH FLOW FROM OPERATING
	ACTIVITIES
									31.12.20	31.12.19
	Net income for the		reporting				period (as per the Statement	ofFinancial
	Activities)								116,764	229,452
	Adjustments for:
	Depreciation charges								5,670	4,237
	Gain on investments								(77,948)	(58,497)
	Interest received								(1,778)	(2,027)
	(Increase)/decrease	in	stocks						(2,948)	310
	(Increase)/decrease	in	debtors						(3,081)	11,855
	(Decrease)/increase	in creditors							(682)	9,040
	Difference between	pension			charge and cash contributions				~14,725l	~13,640)
	Net cash provided		by	operations					21,272	180,730
2.	ANALYSIS OF CHANGES					IN	NET FUNDS
								At 1,1,20	Cash Aow	At 31.12.20
	Net cash
	Cash at bank and in	hand						739,496	16,739	756,235
								739,496	16,739	756,235
	Tot:al							739,496	16,739	756,235

	DONATIONS	DONATIONS	AND LEGACIES
				31.12.20	31.12.19
	Appeals			42,695	42,977
	Donations			278,710	254,898
	Gift aid			32,988	28,665
	Legacies			188,908	368,181
				543,301	694,721
4.	OTHER TRADING ACTIVITIES
				3 I.12.20	31.12.19
	Olive Press	sales		1,863	7,350
	Royalties			18,206	15,489
				20,069	22,839
5.	INVESTMENT		INCOME
				31.12.20	31.12.19
	Rents received			1,805	3,076
	Deposit account		interest	1,127	1,463
	(Loss)/gain	on disposal of investment		651	564
				3,583	5,103

Notes to the Financial	Notes to the Financial	Statements	- continued
for the Year Ended 31 December			2020
6.	INCOME FROM CHARITABLE ACTIVITIES
				31.12.20	31.12.19
	Source
	Individuals			6,339	10,252
	Churches			6,652	38,913
	Annual conference			5,128	43,465
	Shoresh tours				3,800
	Subscription	fee		18,145	16,865
				36,264	113,295
7.	OTHER INCOME
				31.12.20	31.12.19
				E
	Miscellaneous				422
	CJRS Grants			54,226
				54,226	422

SUPPORT COSTS
	Staff		Governance
	costs	Administration		costs
	Totals
		F
Other resources expended	108,331	85,353	7,880		201,564
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
			31.12.20		31.12.19
Independent examiners fee			5,880		5,640
Depreciation - owned assets			5,670		4,236
Operating lease payments			44,316		44,516
Other accountancy services			1,338		1,296

			31.12.20	31.12.19
Wages	and salaries		213,108	202,319
Social	security	costs	18,394	I6,3 I6
Other	pension	costs	20,972	17,736
			252,474	236,371

						31.12.20	31.12.19
	Pensioners					3	3
	United Kingdom					5	5
	Administration					7	6
						15	14
	No employees received emoluments		in excess of f60,000.
14.	COMPARATIYES FOR THE STATEMENT			OF FINANCIAL	ACTIVITIES
				Unrestricted	Restricted	Endowment	Total
				funds	fund	fund	funds
	INCOME AND ENDOWMENTS		FROM
	Donations and legacies			672,150	22,571		694,721
	Charitable activities
	Individuals			10,252			10,252
	Churches			38,913			38,913
	Annual conference			43,465			43,465
	Shoresh tours			3,800			3,800
	Subscription fee			16,865			16,865
	Other trading activities			22,839			22,839
	Investment income			5, I03			5,103
	Other income			422			422
	Total			813,809	22,571		836,380
	EXPENDITURE ON
	Raising funds			31,150			31,150
	Charitable activities
	Israel			90,000	18,002		108,002
	United Kingdom			324,182	4,842		329,024
	Other			197,249			197,249
	Total			642,581	22,844		665,425
	Net gains on investments			58,497			58,497
	NET INCOME/(EXPENDITURE)			229,725	(273)		229,452
	Other recognised	gains/(losses)

				Unrestricted	Restricted	Endowment	Total
				funds	fund	fund	funds
	Actuarial gains/(losses)	on defined	benefit schemes	~11,3183			~11,3183
	Net movement in funds			218,407	(273)		218,134
	RECONCILIATION	OF FUNDS
	Total funds brought	forward		979,769	2,626	566,367	1,548,762
	TOTAL FUNDS CARRIED FORWARD			1,158,176	2,353	566,367	1,766,896
15.	TANGIBLE FIXED	ASSETS
				Freehold	Office	Motor
				property	equipment	vehicles	Totals
	COST
	At I January 2020			374,726	18,939	1,938	395,603
	Additions				7,433		7,433
	At 31 December 2020			37'1,726	26,372	1,938	403,036
	DEPRECIATION
	At I January 2020			35,976	12,567	1,938	50,481
	Charge for year			2,998	2,672		5,670
	At 31 December 2020			38,974	15,239	1,938	56,151
	NET BOOK VALUE
	At 31 December 2020			335,752	11,133		346,885
	At 31 December 2019			338,750	6,372		345,122

						Listed
						investments
	IVIARKET VALUE
	At I January 2020					812,205
	Additions					513
	Disposals					(1,635)
	Revaluations					77,948
	At 31	December 2020				889,031
	NET	BOOK VALUE
	At 31	December 2020				889,031
	At 31	December 2019				812,205
				2020		2019
				Market		Market
			Cost	Value	Cost	Value
			E	E	E
	Unit trusts		67,355	61,074	66,842	47,946
	Shares	in O.E.I.C.	573,852	827,957	575,487	764,259
			641,207	889,031	643,329	812,206
	There	were no investment	assets outside the UK.
17.	STOCKS
					3 1.12.20	31.12.19
					E
	Stocks				13,671	10,723
18.	DEBTORS:AMOUNTS		FALLING DUE WITHIN ONE YEAR
					31.12.20	31.12.19
	Trade	debtors			21,344	15,419
	Prepayments				6,926	9,770
					28,270	25,189

CREDITORS: AMOUNTS FALLING DUE YflTHIN O	NE YEAR
	31.12.20	31.12.19
Trade creditors	1,684	4,193
Social security and other taxes	148	288
Other creditors	2,710	1,750
Deferred income	14,806	13,538
Accrued expenses	9,409	9,670
	28,757	29,439

		31.12.20	31.12.19
Within	one year	37,418	44,3 16
Between one and five years		84,000	117,799
		121,418	162,115

							fixed assets		Other assets less
								Bank and cash	liabilities	Total
									F
Permanent			Endowment			Funds:
Jane Cook		fund					147,369			147,369
Dolman	Trust		fund				197,377	82,193		279,570
A.C. Martin		Memorial			fund			139,428		139,428
Restricted		funds:
UK								857		857
Israel								822		822
C. Payne	literature			fund				1,273		1,273
Unrestricted			funds:
General	fund						2,139	113,604	367,115	482,858
Minimum	reserves							200,000	100,000	300,000
Succession		8c	reorganisation					200,000	300,000	500,000
Israel								18,058		18,058
							346,885	756,235	767,115	1,870,235

							Movement in	Movement in	Transfers			Balance
						Balance	incoming	outgoing	between	3	I	December
						IJanuary 2020	resources	resources	funds			2020
Permanent		Endowment			Funds
Jane Cook	Fund					147,369						147,369
Dolman Trust		Fund				279,570						279,570
A.C. Martin	Memorial			Fund		139,428						139,428
						566,367						566,367
Restricted	Funds
C. Payne literature Israel UK			fund			1,693 3 657	55,391 5,657	(420) (54,572) ~5,4573				1,273 822 857
						2,353	61,048	(60,449)				2,952
Unrestricted		Funds
General Fund						580,118	596,395	(493,655)	(200,000)			482,858
Designated	Funds:
Minimum Reserves						200,000			100,000			300,000
Succession	fk	Reorganisation				400,000			100,000			500,000
Israel						18,058						18,058
						1,198,176	596,395	(493,655)				1,300,9 I6
						1,766,896	657,443	~554,104				1,870,235

									Defined benefit pension plans	Defined benefit pension plans
									31.12.20	31.12.19
Present	value	of unfunded		obligations					~135,100)	~136,400)
Deficit									~135,100)	~136,400)
Liability									~135,100)	~136,400)
The amounts		recognised		in the statement		of financial	activities	are as follows;
									Defined benefit pension plans
									31.12.20	31,12.19
Net interest		from defined		benefit	liability				2,000	2,800
Changes	in the present		value of the defined			benefit obligation		are as follows;
									Defined benefit pension plans
									31.12.20	3 1.12.19
Defined	benefit obligation			brought	forward				136,400	139,200
Interest	cost								2,000	2,800
Actuarial Benefits	losses/(gains) paid								13,425 ~16,725)	11,318 ~16,910)
Defined	benefit obligation			carried	forward				~135,100)	~136,400)

Principal actuarial assumptions	Principal actuarial assumptions
		31.12.20	31.12.19
Discount rate		1.05%	1.55%
Future pension increases		2.15%	2.15%
Defined contribution	scheme