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2021-12-31-accounts

Pages
Reference and administrative
details
Report ofthe Trustees 2-7
Auditor's
Report
Consolidated
Statement		 ofFinancial Activities 10
Consolidated
Balance Sheet
Consolidated
Statement		 ofCash Flows 12
Notes to the Consolidated Accounts 13-21

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EMMANUEL EVANGELICAL CHURCH, continued Responsibilities of Trustefs A% LxpI(iinLd Inore lully In IhL Trustccs, Rc5ponsibililiLs 8iaicmLnl sct oui on pagc 7. the Trusiees aTe Tc%ponsiblL for the prcparaiIi)n ()t' finanLidl siaiemLnl% and lor I￿.[￿g sdli%ficd thai IhLy give a irue and fdir view, and l()T such iniLrnal Li)nirul ihc Trusices dLILrininL 15 llL¢LSSary tn ¥nablL Ihc prLp(irali()n of financ1￿lI .%iaiLm¥ni5 Ih()I drL IrLL Iri)tn maiLrial missiaiLmcni. whethLr duL lo fTaud or error. In preparing Ihty financial siaiemcrhis. IhL Trusictys aiL rLSponsible lor &%SLssing ih¢ group and P<ifL'ni lh￿iLy'S abiliiy 10 L()nlinuL ￿15 d gning7 L()n¢¥rn. disLlo.sing. <1% dpplicahlL. tRalt¥¥s relalLd lo g()ingi LUnLLrn and using IhL g()ing cnnLLrn hasi ()ftsLcauniingT unlL.%.% IhL Trll4iLLS LlthLr iniLnd io liquid<ilL Ihc graup ui IhL p￿.ni Ch<￿11Y or la ¢¢aK' ()pL'rulions. or liavL n() rL'alistic aliLinJtivL hui lo da so. Auditor's responsibilities for the audit of the financial statements WL havc hLen appninied as audii(?r undLr ￿'l(lOn 151 1)f Ihc Charities Aci 2011 and report in accordance wÈth rLgul&ii()ns tnadL undLf %¥Cliiin 154 c)f Ihal Act. Our ohjLLlivcs are i() ()hiain rea%onahle &s%urance about whLihLr the financidl %ldlcmcnis as a wholc arc fTLL fr()m mdtcrÈal missialLtncni, whLth¢r duL In Iraud or crrnr, io issuL alldiii)r's rLP()rl th91 inLludcs ()ur ()pini()n. RL￿()￿a￿IL a%surdnLL is a hibTh l¥vLI uf ds%uranLL, hui is niil ll guaraniLL Ihat an audil L()nduc¢Ld in (iLcvrdanc¥ wilh ISAS IUKI will alw41y% dL￿teLl a tndityridl tni.%SlalLmLni whLn il Lxists. Mi%slaiLmLnt% L(In ufi%L I'rijm Irnutnic dLCiSi(¥ns {)[ u.sLrs IdkLn ()n ihL basis ()I' IhLSL linancial sI￿1(L[l]Lnis. IrrLgulariliL%. in¢ludinb fraud. <trL insianLLS nf n()n-Li)tnplianLL wilh Idw5 and rLgulali()ns. WL dtr%ibTn pfocLdurL% in linL wilh i)ur rL%Pi)nsibiliiiLs, ouilinLd ￿lbOvc. io dLILLt nialLfi￿1I mis%laiLmenis in rLSP¥C¢ i¥l' iirL¥Tulariiics. inLludinb Iraud. BLLausL lif thL inhLrLnt limitations (If an audii, IhLrL is a risk ihdl WL will nol dLILCI all irrLbTulaTIIIL%, inLluJinbl IhiisL Icdding (() a niaiLridl tnissiaiLmcni in IhL financi￿17 sldlcinents (?r non-coiiiplidnLL wilh rLgulaiit)n. This risk inLfLa%LS IhL Ihiil colnpl1￿1llLL wilh a law nr rLbTulalion i¥ rLmov¢d I'rvm IhL ¢vLnis and Irdn%aciinns rLIILLILd in IhL finanLial -siaiLmLnls. as WL will be ILSS likLly to IK'c()niL 41warL of in51iLllLCS of ni)n-Liimpliance. ThL Ilsk 1% al%0 greaiLr rLbTaTding IrrLbTularitiL5 ()ccllrring duL l() Iraud ra¢her ihan ¢rror. d5 fraud involvcs inlcntional ci)ncLalmcni, lorgery) Lullu.%ion. ()Eni%si()n {)[ [ni%￿.prlSLnta1lQn. A furthcr desLripiinn of ()ur r¢sponsibiliiies l(Ir Ihe audii of Ihe financial slalctncnis is pri)vidLd on ihe Financial RLP()rling C()unLiI'.% wLb5ilL al www.frL.nrg.uklauditIirN/￿1UdlI-as￿UranCLl￿udI1Or-S-rlsp()￿￿lbll1tiC$-r[Jr-1hc-a￿di(-or-thC-rI/￿L.slI]Pl1()n- i)l-Ihc-audiii)rfknE2Vih80%9Ys-re.sponsibililiLS-Icir. Thi% descriplion forms parl of our auditor's TCPOrt. Use ofour ￿￿KIrt This rLP()rt is madL Eol¢ly io Ihc choTily'S TnLEiees. as a i￿y. in aLL()rYlance wiih 4 of ihL ChaTiiies IALLOUllts and RLp()nsl RlguI￿ll7[)n% 2UU8. Our au(Jil w()rk h<lS bL'Lll undLrI￿lkLn sa ihai WL mighi siaie its ihL charity's Tru.slLLS ihu%c mallLfs wc dfL' 'quiILd in %iaiL l() thLm in <in alldi(i¥r'.% rLport and lili no oihLr purtX)%L. Ta Ihe lullL5t LXILnt t￿rni1(1¢£I by law. WL da ni)1 ￿QlP¢ ar &5sumL r¥spon%ibilily Ic) <iny()nL ()IhLr ihan the ch￿lY and IhL Lh<wily'% TruS￿eS as Ixxly, flir ()ur audil wurk, r()r thi.% rLPi)n, ar l()r ihc opinion5 WL have lornKd. fyek rtnershRp Ststutory Auditor Chartered Accounlants 159a Chase Side Enfield EN2 DPW Dthtc.. )Ll 04bbfr 2c/J Geary Parlncrship is cligihle lo act as an (iuditor in ¢Lrms ()f 5eciinn 1212 of thc Companies ALI 2006.

Total Total
Unrestricted Restricted Revaluation funds funds
funds funds reserve 2021 2020
INCOME AND EXPENDITURE g
Income from:
Donations
and legacies (Note 2a)
Other operating
activities (Note 2b)
Investments
(Note 2c)		 632,268
319,444
61		 30,796 663,064
319,444
61		 700,093
287,653
487
Grants (Note 2d) 119,523 119,523 241,227
Total Income 1,071,296 30,796 1,102,092 1,229,460
Expenditure
on:
Raising funds (Note 3a)
Charitable
activities (Note 3b)		 274,471
752,976		 99,109 274,471
852,085		 660,075
876,556
Total Expenditure 1,027,447 99,109 1,126,556 1,536,631
Net Income/(Expenditure)
before Taxation and Transfers 43,849 (68,313) (24,464) (307,171)
Taxation (note 4)
Transfers
between
funds (note 12)		 17,362 72,111 (89,473) 20,770
Net Income/(Expenditure)
for the year		 61,211 3,798 (89,473) (24,464) (286,401)
Net Movement
in Funds		 61,211 3,798 (89,473) (24,464) (286,401)
RECONCILIATION OFFUNDS
Total Funds brought
forward
at I January 2021 4,949,458 99,178 8,857,828 13,906,464 14,192,865
Total Funds carried forward
at31December 2021 K5,010,669 f102,976 88,768455 813JI82,000 813,906,464

2021 2020
Group Church Group Church
g g
Fixed assets
Tangible fixed assets
Investments
(note 7)		 (note 6) 14,232,797 14,225,633
2		 14,453,736 14,440,353
2
14,232,797 14,225,635 14,453,736 14,440,355
Current assets
Stock
Debtors (note 8)
Cash st bank and in hand		 91,527
545,758		 203,412
360,683		 1,500
137,628
333,945		 245,400
257,359
637,285 564,095 473,073 502,759
Creditors: amounts falling due
within one year (note 9)
Creditors and accrued expenditure (159,685) (96,586) (125,365) (82,742)
Net current assets 477,600 467,509 347,708 420,017
Total assets less current liabilities 14,710,397 14,693,144 14,801,444 14,860,372
Crethtorsi
amounts		 falling due
after more than one year (note 10) (828,397) (790,897) (894,980) (845,813)
Net assets 513dl82,000 f13,902~7 f13tt06,464 X14,014459
Funds
Unrestricted
funds:
General fund
Revaluation
reserve		 (note 11) 5,010,669
8,768,355		 5,030,916
8,768,355		 4,949,458
8,857,828		 5,057,553
8,857,828
13,779,024 13,799,271 13,807,286 13,915,381
Restricted funds (note 12) 102,976 102,976 99,178 99,178
513dlg2,000 f13,902/47 513,906,464 514,014459

2021 2020
Notes
Net cash provided
hy/(utilised
in) operating
activities		 14 267,494 (84,437)
Cash flows from investing activities:
(Purchase) offixtures, fittings and equipment (4,260) (36,449)
Cash (used in) investing
activities		 (4,260) (36,449)
Cash flows from financing
activities
Receipt ofnew bank borrowings
and HP
(Repayment) ofbank borrowings
and HP		 finance
finance		 (51,421) 70,396
(86,006)
Cash (used in) financing
activities		 (51,421) (15,610)
Increase/(decrease)
in cash and cash equivalents		 in the year 211,813 (136,496)
Cash and cash equivalents
at the beginning		 ofthe year 333,945 470,441
Total cash and cash equivalents
at the end ofthe year		 5545,758 f333,945

Total Total
Unrestricted Restricted funds funds
funds funds 2021 2020
a. Raising funds g g g
Staffcosts
Rent and events costs
Depreciation/amortisation		 86,404
174,413
13,654		 86,404
174,413
13,654		 359,815
274,577
25,683
f274,471 f274,471 5660,075
b. Charitable
activities
Pastoral staff costs
Other staff costs
Mission and relief
Office overheads
Upkeep ofpremises
Depreciation/amortisation
Gifts and honoraria
Interest payable on mortgage
Other expenditure		 loan 388,125
43,125
5,643
17,486
211,545
9,340
19,286
54,426		 92,463
6,646		 388,125
43,125
92,463
5,643
24,132
211,545
9,340
19,286
54,426		 390,881
43,431
60,584
27,612
31,425
204,992
12,105
22,570
79,956
Governance
costs		 748,976 99,109 848,085 873,556
Auditors'
remuneration		 4,000 4,000
K752,976 599,109 %852,085 f876456
c. Support costs (included above)
Raising Charitable Total Total
funds activities 2021 2020
g
Staffcosts
Office overheads
Upkeep ofpremises		 431,250
5,643
24,132		 431,250
5,643
24,132		 434,312
27,612
31,425
Depreciation/amortisation
Interest payable on mortgage
Governance
costs
Other expenditure		 loan 13,654 211,545
19,286
4,000
54,426		 225,199
19,286
4,000
54,426		 230,675
22,570
3,000
79,956
K13,654 5750/82 5763,936 f829850

d.
Employees
The average number ofemployees
during		 the year was; 2021 2020
Management
and administration		 ofthe Charity 28 37
Number ofstaff for whom retirement
benefits are accruing
under money purchase
pension schemes		 18 21
Staff Costs:
Staff and helpers
Employer's
NI contributions
Pension contributions		 426,126
33,317
58,212		 681,528
50,478
62,121
f517,655 5794,127
No employees
earned f60,000p.a.or more.
Taxation
2021 2020
Corporation
tax (credit) on the loss for the		 year of
the Church's
trading
subsidiary		 Ce 19% (see note 7) K(20,770)

2021 2020
Total income
Total expenditure		 767,157
(879,469)		 849,516
(926,898)
Net (expendi ture) g(112412) K(77482)

Group Freehold Long Fixtures
property
and		 leasehold fittings and
improvements property equipment Total
Cost or valuation
Balance at01.01.202I
Additions		 12,784,7I5 1,600,000 1,425,267 15,809,982
4,260 4,260
Balance at3L122021 f12,784,715 gL600,000 XL429,527 X15B14~2
Depreciation/amortisation
Balance at01.01.2021
Charge for the year		 127,847
127,847		 16,000
16,000		 1,212,399
81,352		 1,356,246
225,199
Balance at31.12.2021 f255,694 K32,000 K1,293,751 51481,445
Net BookValue at31.12.2021 512/29,021 51,568,080 5135,776 514432,797
Net BookValue at31.12.2020 812,656dI68 51484,000 5212,868 814,453,736
Church Freehold Long Fixtures
property
and		 leasehold fittings and
improvements property equipment Total
Cost or valuation 8
Balance at01.01.202I
Additions		 12,784,715 1,600,000 1,399,993
4,260		 I5,784,708
4,260
Balance at31.12.2021 812,784,715 51,600,000 51,404453 515,788t168
Depreciation/amortisation
Balance at01.01.2021
Charge for the year		 127,847
127,847		 16,000
16,000		 1,200,508
75,133		 1,344,355
218,980
Balance at31.12.2021 5255,694 532,000 51475,641 51,563/35
Net BookValue at31.12.2021 512529,021 51468,000 5128,612 514425,633
Net BookValue at31.12.2020 812,656JI68 glg84,000 f199,485 f14,440453

in England
and Wales on 12 November
2015 and comm
EECTrading Limited are summarised
below:		 enced
trading
operations
on		 1 January 20
2021 2020
Total income
Total (expenditure)
Profit/(loss)
for the year before taxation
Tax credit/(charge)
on the profit for the year
Total assets at 31December
Total (liabilities) at 31 December
Share capital and reserves at 31December		 359,935
(272,087)
87,848
205,645
(225,890)
(20,245)		 454,944
(684,733)
(229,789)
20,770
136,184
(244,277)
(108,093)

after more than one year
2021 2021 2020 2020
Group Church Group Church
5
Obligations under hire purchase (long-term
portion)
Mortgage		 loan (secured): 798 798 8,498 8,498
Payable within
1-2years
Payable within 2-5 years
Payable after more than 5 years		 52,080
159,120
578,899		 52,080
159,120
578,899		 44,400
131,400
661,515		 44,400
131,400
661,515
Other loans 790,897
37,500		 790,897
—		 845,813
49,167		 845,813
8128397 5790,897 5894,980 8845,813
Revaluation
reserve
Year ended 37December 202D
Group and Church
Balance brought
forward
Less: Depreciation ofuplift on revaluation		 offreehold property 8,857,828
and improvements
Amortisation
ofuplift on revaluation		 oflong leasehold 81,483
property 7,990
(89,473)
Balance carried forward 88,768455
Year ended 31December 2020:
Group and Church
Balance brought forward
Less: Depreciation ofuplift on revaluation		 offreehold property 8,947,301
and improvements
Amortisation
ofuplift on revaluation		 oflong leasehold 81,483
property 7,990
(89,473)
Balance carried forward 582157,828

Year ended 31December 2021:
Group and Church Covid-19
Relief		 Love
Westminster		 Roof Mission
and Relief		 Total
restricted
Fund Fund Fund Fund funds
Balance brought forward
Incoming resources for the year
Outgoing
resources for the year
Transfers
(to)/from General Fund		 29,964
29,796		 1,465 1,000
(6,646)
5,646		 69,214
(92,463)
65,000		 99,178
30,796
(99,109)
72,111
Balance carried forward f59,760 X1,465 $41,751 f102,976
Year ended 31December 2020:
Group and Church Covid-19
Relief		 Roof Mission
and Relief		 Total
restricted
Fund Fund Fund funds
Balance brought
forward
Incoming
resources for the year		 34,064 45,4I4 63,498
300		 63,498
79,778
Outgoing
resources for the year
Transfers
(to)/from
General Fund		 (4,100) (28,132)
(17,282)		 (60,584)
66,000		 (92,816)
48,7]8
Balance carried forward f29g64 X69r214 599,178

Analysis ofnet assets between funds
General Restricted Revaluation
fund funds reserve
Tangible fixed assets
Cash at bank and in hand		 5,464,442
442,782		 102,976 8,768,355
Other net current assets/(liabilities)
Creditors ofmore than one year		 (68,158)
(828,397)
Total 55,010,669 8102,976 88,768,355

Reconciliation ofnet movement
in funds to net cash
from operating activities		 2021 2020
Net movement
in funds
Add back: Depreciation
and amortisation
charge
Decrease in stock
Decrease in debtors
Increase/(decrease)
in creditors excluding
bank botrowings		 (24,464)
225,199
1,500
46,101		 (286,401)
230,674
44,769
and hire purchase 19,158 (73,479)
Net cash provided
by/(utilised
in) operating activities		 f267,494 K(84,437)