**REGISTERED COMPANY NUMBER: 08703834 (England and Wales) REGISTERED CHARITY NUMBER: 1154239**
**Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 March 2021**
**for**
**GLOW CHURCH UK LTD**
**GLOW CHURCH UK LTD**
## **Contents of the Financial Statements for the Year Ended 31 March 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Statement of Financial Position**|7|to|8|
|**Statement of Cash Flows**||9||
|**Notes to the Statement of Cash Flows**||10||
|**Notes to the Financial Statements**|11|to|20|
|**Detailed Statement of Financial Activities**|21|to|22|
**GLOW CHURCH UK LTD**
## **Report of the Trustees**
## **for the Year Ended 31 March 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 March 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).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The objectives of the Charity are :-
a) To advance the Christian faith in accordance with the Statement in such ways and in such parts of the United Kingdom or the World as the directors from time to time may think fit.
b) To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the World as the directors from time to time think fit.
c) To advance education in such ways and in such parts of the United Kingdom as the directors from time to time may think fit.
A summary of the activities of the charity as set out on the Charity Commission website is that the charity provides nursery care and hire of facilities that advance public education by mounting lectures, exhibitions and conferences.
Page 1
**GLOW CHURCH UK LTD**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **OBJECTIVES AND ACTIVITIES Public benefit**
The Trustees have complied with the duty under Section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission and the trustees have paid due regard to this guidance in deciding what activities the Charity should undertake
Due to COVID19, all normal activity undertaken by the Charity was affected.
All church services previously held in person were moved online. This coincided with plans already in place to amalgamate all regional locations into one central location based in Newton Aycliffe at the Xcel Centre. A weekly livestream service was provided that gained significant engagement from both existing church members and visitors. Weekly connect groups were hosted online and saw participation increase to approx 60% of congregation during lockdowns.
When permissible, drive in services were hosted at the main location alongside drive through communion services. On Christmas eve in 2020, two in person services were held as one off's and saw approx 300 congregation across the day. A return to regular in-person services took place from Easter 2021.
The most significant change during this year was the change in church leadership and oversight. John Greenow requested to step back from the Lead Pastor role and following several months of due diligence, in January 2021 the Board appointed Andrew and Louise Cherrie as Lead Pastors. This was in the knowledge that alongside their appointment, a partnership with Glow Church Australia would also form part of the immediate plans for the future of Xcel Church.
At the beginning of the year there was six paid staff (five full time equivalent) working in this part of the Charity with approximately 70 volunteers. The work of the volunteers is vital in making church happen in the following areas: Set up and Set down; welcome and connecting with new people, sound and production, worship (which includes singers and those who play instruments) and children's activities. Small groups are led by volunteers and some pastoral support is provided by volunteers working under staff guidance.
The Charity provides a highly regarded Nursery, Little Cubs. This is run on a commercial basis by 24 paid staff and is regulated in accordance with all the requirements of OFSTED and the County Council. It is currently rated "Good" by OFSTED and the most recent report (2017) is available on the OFSTED website. The staff, children and families of Little Cubs have navigated through COVID19 with due care and attention to all restrictions while continuing to provide excellent care and service to all users. In the face of significant challenges, the nursery has not only held ground but seen growth in occupancy of approx. 12% year on year.
In addition to the staff already mentioned, there is a Business and Finance Director (full time) and 3 support staff.
## **FINANCIAL REVIEW**
## **Principal funding sources**
The principal funding sources are a) donations and gifts to Xcel Church, b) provision of nursery care and c) hire of facilities d) grants.
The Charity does not undertake specific fundraising events. Its main source of funds is the donations of members of the Congregation. No significant expenditure is incurred in raising these funds. The prevention of in person services has impacted the levels of donations received during this year, however with a move to online giving now in place, giving is starting to return to previous levels.
The Charity has a Trading Subsidiary "Innovate County Durham" which operates Conferencing and Events and a Coffee Shop on the main site in Newton Aycliffe. The staff are paid although volunteers do provide support from time to time. The conference facilities provided through Innovate are hired out to other organisations such as the NHS and local firms for education and training purposes as well as mounting exhibitions. This has been severely impacted during COVID lockdowns and return to pre covid levels of occupancy is expected during 2022. The financial impact of this has been offset by use of Government Coronavirus support schemes.
The Charity also uses any surplus funds from Little Cubs and Innovate County Durham.
Page 2
**GLOW CHURCH UK LTD**
## **Report of the Trustees**
## **for the Year Ended 31 March 2021**
## **FINANCIAL REVIEW**
## **Reserves policy**
The Trustees have considered and retained the existing level of reserves set out by the Charity. These funds are not restricted but can be allocated to various special projects. Members of the congregation have given donations over and above their normal giving to enable the Charity to fund additional work.
The income and expenditure streams, the need to match income with commitments and the nature of reserves have been considered again. Budgets and expenditure have been adjusted to reflect current income levels. The Reserves Policy will be kept under review.
## **FUTURE PLANS**
Focus for 2021/22 is the continued integration of Xcel Church into the Glow Church Global family. The transition is expected to include a rebrand of the Charity along with a full review of staffing and operational procedures to align with Glow Church global vision and strategy. The board anticipates the transition period will be completed within the next financial year.
## **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.
## **Recruitment and appointment of new trustees**
The Directors of the Company are also Charity Trustees for the purpose of charity law. The Directors have the power to appoint any other person as a Director. During this financial year, John Greenow and Rosemary Laxton resigned as trustees and Stephen Matthew, Steven Mawston and Joel Cave joined the Board.
## **Organisational structure**
The Charity's legal status is that of a company limited by guarantee and is governed by the company's Memorandum and Articles of Association.
The Charity is organised so that the trustees meet regularly to manage its affairs. The day to day management is delegated to the Business and Finance Director and the Lead Pastor of Glow Church (formerly Xcel Church).
An Annual General Meeting was held in October 2020 and all policy documents were reviewed and agreed. The Board voted that the Chair and Company Secretary continue in their roles. The next Annual General Meeting will be held in October 2021.
## **Induction and training of new trustees**
New trustees are invited and encouraged to visit the main location to familiarise themselves with the charity and the context in which it operates. They are provided with a Directors pack which contains a copy of the Memorandum and Articles, a job description and details of the trustees' responsibilities together with the latest financial statements and the current financial position.
## **Related parties**
The charitable Company owns 100% of the share capital of Innovate County Durham Limited.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Charity has detailed Risk Registers covering both financial and other risks. These are reviewed regularly by the Board and action taken to manage and reduce risk.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
08703834 (England and Wales)
## **Registered Charity number**
1154239
Page 3
**GLOW CHURCH UK LTD**
## **Report of the Trustees**
## **for the Year Ended 31 March 2021**
## **Registered office**
Xcel Centre Long Tens Way Aycliffe Business Park Newton Aycliffe County Durham DL5 6AP
## **Trustees**
P Benger Non Executive (resigned 31/3/21) Ms R A Laxton Non Executive (resigned 23/11/20) Mrs K L Clark Business and Financial Director J J Greenow Lead Pastor (resigned 23/11/20) S W Mawston (appointed 2/3/21) S Matthew (appointed 10/11/20) Ms N Mason (appointed 1/4/21) J S Cave (appointed 23/2/21)
## **Company Secretary**
Mrs K L Clark
## **Independent Examiner**
Lee Harris FCCA Mitchell Gordon LLP 43 Coniscliffe Road Darlington Co. Durham DL3 7EH
## **CHANGE OF NAME**
The charitable company passed a special resolution on 7 July 2021 changing its name from Xcel County Durham to Glow Church UK Ltd.
Approved by order of the board of trustees on 25 January 2022 and signed on its behalf by:
Mrs K L Clark - Trustee
Page 4
**Independent Examiner's Report to the Trustees of Glow Church UK Ltd**
## **Independent examiner's report to the trustees of Glow Church UK Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 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 FCCA 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.
Lee Harris FCCA Mitchell Gordon LLP 43 Coniscliffe Road Darlington Co. Durham DL3 7EH
25 January 2022
Page 5
**GLOW CHURCH UK LTD**
## **Statement of Financial Activities for the Year Ended 31 March 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
221,798
**Charitable activities**
4
Little Cubs
156,782
Other charitable activities
3
374,655
**Total**
753,235
**EXPENDITURE ON**
Raising funds
5
132,948
**Charitable activities**
6
Little Cubs
271,443
Centre
316,691
Other
49,673
**Total**
770,755
**NET INCOME/(EXPENDITURE)**
(17,520)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
843,174
**TOTAL FUNDS CARRIED FORWARD**
825,654|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-|31/3/21
Total
funds
£
221,798
156,782
374,655
753,235
132,948
271,443
316,691
49,673
770,755
(17,520)
843,174
825,654|31/3/20
Total
funds
£
339,165
142,601
411,701|
|---|---|---|---|
||||893,467
170,215
256,906
335,073
66,208|
||||828,402|
||||65,065
778,109|
||||843,174|
The notes form part of these financial statements
Page 6
**GLOW CHURCH UK LTD**
## **Statement of Financial Position**
## **31 March 2021**
|Notes
**FIXED ASSETS**
Tangible assets
12
Investments
13
**CURRENT ASSETS**
Stocks
14
Debtors
15
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
17
**NET ASSETS**
**FUNDS**
20
Unrestricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
2,021,753
1
2,021,754
1,899
12,472
7,939
22,310
(87,874)
(65,564)
1,956,190
(1,130,536 )
825,654|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-|31/3/21
Total
funds
£
2,021,753
1
2,021,754
1,899
12,472
7,939
22,310
(87,874)
(65,564)
1,956,190
(1,130,536 )
825,654
825,654
825,654|31/3/20
Total
funds
£
2,028,297
1
2,028,298
2,411
21,495
1,839
25,745
(131,630)
(105,885)
1,922,413
(1,079,239 )
843,174
843,174
843,174|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
**GLOW CHURCH UK LTD**
## **Statement of Financial Position - continued**
## **31 March 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 25 January 2022 and were signed on its behalf by:
K L Clark - Trustee
The notes form part of these financial statements
Page 8
## **GLOW CHURCH UK LTD**
## **Statement of Cash Flows for the Year Ended 31 March 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Movement on related party balances
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Sale of tangible fixed assets
Net cash used in investing activities
**Cash flows from financing activities**
New loans in year
Loan repayments in year
Net cash provided by/(used in) financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
2
**Cash and cash equivalents at the end of**
**the reporting period**
2|31/3/21
£
30,612
(49,783)
(1,510)
(20,681)
(3,096)
500
(2,596)
50,000
(14,789)
35,211
11,934
(7,195)
4,739|31/3/20
£
135,615
(66,352)
1,252
70,515
(2,147)
-
(2,147)
-
(90,415)
(90,415)
(22,047)
14,852
(7,195)|
|---|---|---|
The notes form part of these financial statements
Page 9
**GLOW CHURCH UK LTD**
## **Notes to the Statement of Cash Flows**
## **for the Year Ended 31 March 2021**
## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net (expenditure)/income for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
Loss on disposal of fixed assets
Interest paid
Decrease in stocks
Decrease/(increase) in debtors
Decrease in creditors
**Net cash provided by operations**
**2.**
**ANALYSIS OF CASH AND CASH EQUIVALENTS**
Cash in hand
Notice deposits (less than 3 months)
Overdrafts included in bank loans and overdrafts falling due within one year
Total cash and cash equivalents
3.
**ANALYSIS OF CHANGES IN NET DEBT**|31/3/21
£
(17,520)
6,094
3,046
49,783
512
10,537
(21,840)
30,612
31/3/21
£
630
7,309
(3,200)
4,739|31/3/20
£
65,065
7,458
-
66,352
526
(3,778)
(8)
135,615
31/3/20
£
1,050
789
(9,034)
(7,195)|
|---|---|---|
||At 1/4/20|Cash flow|At 31/3/21|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|1,839|6,100|7,939|
|Bank overdraft|(9,034)|5,834|(3,200)|
||(7,195)|11,934|4,739|
|**Debt**||||
|Debts falling due within 1 year|(84,936)|16,082|(68,854)|
|Debts falling due after 1 year|(1,079,239 )|(51,297)|(1,130,536 )|
||(1,164,175 )|(35,215)|(1,199,390 )|
|**Total**|(1,171,370 )|(23,281)|(1,194,651 )|
The notes form part of these financial statements
Page 10
**GLOW CHURCH UK LTD**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **1. 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, with the exception of investments which are included at market value.
The financial statements have been prepared under the going concern basis of accounting.
## **Preparation of consolidated financial statements**
The financial statements contain information about Glow Church UK Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
## **Critical accounting judgements and key sources of estimation uncertainty**
In the application of the company’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.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Plant and machinery - 25% on reducing balance and 20% on reducing balance Fixtures and fittings - 25% on reducing balance and 15% on reducing balance Motor vehicles - 20% on reducing balance
The property held is maintained regularly throughout the year and for this reason the trustees do not believe it is appropriate to depreciate the property.
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
continued...
Page 11
**GLOW CHURCH UK LTD**
**Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **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.
## **Financial instruments**
## Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
## Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
continued...
Page 12
**GLOW CHURCH UK LTD**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Financial instruments**
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
## Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
## Basic financial liabilities
Basic financial liabilities, including loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
## **2. DONATIONS AND LEGACIES**
## **3.**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
|Church income
Gift aid
Legacies
**OTHER CHARITABLE ACTIVITIES**
Nursery fees
Other income
Operating income|31/3/21
£
180,619
38,659
2,520
221,798
31/3/21
£
149,480
97,675
127,500
374,655|31/3/20
£
283,349
55,816
-|
|||339,165|
|||31/3/20
£
189,925
18,069
203,707|
|||411,701|
continued...
Page 13
**GLOW CHURCH UK LTD**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
|**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
31/3/21
Activity
£
Grants
Little Cubs
156,782
Grants received, included in the above, are as follows:
31/3/21
£
Nursery education grants
156,782
**5.**
**RAISING FUNDS**
**Other trading activities**
31/3/21
£
Opening stock
2,411
Purchases
132,326
Closing stock
(1,899)
Interest payable and similar charges
110
132,948
**6.**
**CHARITABLE ACTIVITIES COSTS**
Support
Direct
costs (see
Costs
note 7)
£
£
Little Cubs
262,244
9,199
Centre
207,867
108,824
470,111
118,023
**7.**
**SUPPORT COSTS**
Information
Management
technology
£
£
Little Cubs
6,372
-
Centre
96,379
5,487
102,751
5,487|31/3/20
£
142,601
31/3/20
£
142,601
31/3/20
£
2,937
169,545
(2,411)
144
170,215
Totals
£
271,443
316,691
588,134
Human
resources
£
-
(504)
(504)|
|---|---|
continued...
Page 14
**GLOW CHURCH UK LTD**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **7. SUPPORT COSTS - continued**
|**SUPPORT COSTS - continued**|||
|---|---|---|
|Little Cubs
Centre|Governance
Other
costs
£
£
667
2,160
2,058
5,404
2,725
7,564|Totals
£
9,199
108,824|
|||118,023|
## **8. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31/3/21|31/3/20|
|---|---|---|
||£|£|
|Depreciation - owned assets|6,094|7,458|
|Deficit on disposal of fixed assets|3,046|-|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
During the year Mrs K L Clark, a trustee, received remuneration of £29,227 in her role as Business and Finance director. J J Greenow, a trustee, received remuneration of £56,652 in his role as Lead Pastor. No other trustee received remuneration during this year or the previous period.
## **Trustees' expenses**
During the year trustee expenses of £320 (2020: £397) were paid by the charity.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|31/3/21
£
426,856
21,544
16,339
464,739|31/3/20
£
419,817
21,628
15,820|
|---|---|---|
|||457,265|
The average monthly number of employees during the year was as follows:
||31/3/21|31/3/20|
|---|---|---|
|Charitable activities|30|30|
|Management and administration|2|2|
||32|32|
No employees received emoluments in excess of £60,000.
Page 15
continued...
**GLOW CHURCH UK LTD**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
|**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
339,165
**Charitable activities**
Little Cubs
142,601
Other charitable activities
411,701
**Total**
893,467
**EXPENDITURE ON**
Raising funds
170,215
**Charitable activities**
Little Cubs
256,906
Centre
335,073
Other
66,208
**Total**
828,402
**NET INCOME**
65,065
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
778,109
**TOTAL FUNDS CARRIED FORWARD**
843,174|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-|Total
funds
£
339,165
142,601
411,701|
|---|---|---|
|||893,467
170,215
256,906
335,073
66,208|
|||828,402|
|||65,065
778,109|
|||843,174|
Page 16
continued...
**GLOW CHURCH UK LTD**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2021**
## **12. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2020
Additions
Disposals
At 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
Eliminated on disposal
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020|Freehold
property
£
2,002,602
-
-
2,002,602
-
-
-
-
2,002,602
2,002,602|Plant and
machinery
£
96,917
2,742
-
99,659
77,509
4,978
-
82,487
17,172
19,408|Fixtures
and
fittings
£
4,397
354
-
4,751
2,370
402
-
2,772
1,979
2,027|Motor
vehicles
£
12,000
-
(12,000)
-
7,740
714
(8,454)
-
-
4,260|Totals
£
2,115,916
3,096
(12,000)
2,107,012
87,619
6,094
(8,454)
85,259
2,021,753
2,028,297|
|---|---|---|---|---|---|
**13. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||
|---|---|
||Shares in|
||group|
||undertakings|
||£|
|**MARKET VALUE**||
|At 1 April 2020 and 31 March 2021|1|
|**NET BOOK VALUE**||
|At 31 March 2021|1|
|At 31 March 2020|1|
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital of companies include the following:
## **Innovate County Durham Limited**
Registered office: Xcel Centre Long Tens Way, Aycliffe Business Park, Newton Aycliffe, County Durham, DL5 6AP
Nature of business: Management services and conferencing facilities.
% Class of share: holding Ordinary 100 31/3/21 31/3/20 £ £ Aggregate capital and reserves 1 1
continued...
Page 17
**GLOW CHURCH UK LTD**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
|**14.**
**STOCKS**
31/3/21
£
Stocks
1,899
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31/3/21
£
Trade debtors
3,247
Amounts owed by group undertakings
8,775
Other debtors
-
VAT
132
Prepayments
318
12,472
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31/3/21
£
Bank loans and overdrafts (see note 18)
72,054
Trade creditors
376
Social security and other taxes
7,491
Accrued expenses
7,953
87,874
**17.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
31/3/21
£
Bank loans (see note 18)
1,130,536
**18.**
**LOANS**
An analysis of the maturity of loans is given below:
31/3/21
£
Amounts falling due within one year on demand:
Bank overdrafts
3,200
Bank loans
68,854
72,054
Amounts falling between one and two years:
Bank loans - 1-2 years
88,763
Amounts falling due between two and five years:
Bank loans - 2-5 years
239,710
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
802,063|31/3/20
£
2,411
31/3/20
£
1,592
7,261
4,667
1,945
6,030
21,495
31/3/20
£
93,970
13,840
14,329
9,491
131,630
31/3/20
£
1,079,239|31/3/20
£
2,411
31/3/20
£
1,592
7,261
4,667
1,945
6,030
21,495
31/3/20
£
93,970
13,840
14,329
9,491|
|---|---|---|
|||131,630|
|||31/3/20
£
9,034
84,936|
|||93,970|
|||88,763|
|||189,709|
|||800,767|
continued...
Page 18
**GLOW CHURCH UK LTD**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **19. SECURED DEBTS**
The following secured debts are included within creditors:
|Bank loans
**20.**
**MOVEMENT IN FUNDS**
At 1/4/20
£
**Unrestricted funds**
General fund
843,174
**TOTAL FUNDS**
843,174
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
753,235
**TOTAL FUNDS**
753,235
**Comparatives for movement in funds**
At 1/4/19
£
**Unrestricted funds**
General fund
778,109
**TOTAL FUNDS**
778,109
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
893,467
**TOTAL FUNDS**
893,467|31/3/21
£
1,199,390
Net
movement
in funds
£
(17,520)
(17,520)
Resources
expended
£
(770,755)
(770,755)
Net
movement
in funds
£
65,065
65,065
Resources
expended
£
(828,402)
(828,402)|31/3/20
£
1,164,175
At
31/3/21
£
825,654
825,654
Movement
in funds
£
(17,520)
(17,520)
At
31/3/20
£
843,174
843,174
Movement
in funds
£
65,065
65,065|
|---|---|---|
||||
continued...
Page 19
**GLOW CHURCH UK LTD**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **20. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/19
£
778,109
778,109|Net
movement
in funds
£
47,545
47,545|At
31/3/21
£
825,654|
|---|---|---|---|
||||825,654|
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|1,646,702|(1,599,157 )|47,545|
|**TOTAL FUNDS**|1,646,702|(1,599,157 )|47,545|
## **21. RELATED PARTY DISCLOSURES**
At the year end the Charity was owed £8,775 (2020: £7,261) from Innovate County Durham Limited, a company wholly owned by the Charity.
During the year the amounts received from Innovate County Durham Limited which relate to Glow Church UK Ltd total £Nil (2020: £10,720).
Page 20
**GLOW CHURCH UK LTD**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Church income
Gift aid
Legacies
**Other charitable activities**
Nursery fees
Other income
Operating income
**Charitable activities**
Grants
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Opening stock
Direct costs
Operational contribution
Bank interest
Closing stock
**Charitable activities**
Wages
Social security
Pensions
Rates and water
Postage and stationery
**Other**
Bank loan interest
**Support costs**
**Management**
Insurance
Light and heat
Telephone
Carried forward|**Detailed Statement of Financial Activities**
**for the Year Ended 31 March 2021**
31/3/21
31/3/20
£
£
180,619
283,349
38,659
55,816
2,520
-
221,798
339,165
149,480
189,925
97,675
18,069
127,500
203,707
374,655
411,701
156,782
142,601
753,235
893,467
2,411
2,937
40,876
66,618
91,450
102,927
110
144
(1,899)
(2,411)
132,948
170,215
426,856
419,817
21,544
21,628
16,339
15,820
3,536
4,102
1,836
1,774
470,111
463,141
49,673
66,208
8,428
9,130
23,419
30,818
2,942
2,180
34,789
42,128|
|---|---|
|||
This page does not form part of the statutory financial statements
Page 21
**GLOW CHURCH UK LTD**
|**Management**
Brought forward
Printing, postage and stationery
Advertising
Sundries
Motor and travel
Repairs and renewals
Depreciation of plant and machinery
Depreciation of fixtures and fittings
Depreciation of motor vehicles
Loss on sale of tangible fixed assets
**Information technology**
IT costs
**Human resources**
Training
**Other**
Bank charges
**Governance costs**
Accountancy fees
Legal and professional fees
Total resources expended
**Net (expenditure)/income**|**Detailed Statement of Financial Activities**
**for the Year Ended 31 March 2021**
31/3/21
31/3/20
£
£
34,789
42,128
2,573
4,090
1,028
1,325
26,789
33,797
4,094
6,530
24,338
15,254
4,978
5,997
402
396
714
1,065
3,046
-
102,751
110,582
5,487
5,985
(504)
4,046
2,725
3,412
4,157
2,910
3,407
1,903
7,564
4,813
770,755
828,402
(17,520)
65,065|**Detailed Statement of Financial Activities**
**for the Year Ended 31 March 2021**
31/3/21
31/3/20
£
£
34,789
42,128
2,573
4,090
1,028
1,325
26,789
33,797
4,094
6,530
24,338
15,254
4,978
5,997
402
396
714
1,065
3,046
-
102,751
110,582
5,487
5,985
(504)
4,046
2,725
3,412
4,157
2,910
3,407
1,903
7,564
4,813
770,755
828,402
(17,520)
65,065|
|---|---|---|
||||
|||110,582
5,985
4,046
3,412
2,910
1,903|
|||4,813|
|||828,402|
|||65,065|
This page does not form part of the statutory financial statements
Page 22