##
##
|Trustees|MrRVHarris|
|---|---|
||MrsPAisbitt|
||MrAB Griffiths|
||Mr R M Sage|
||MrsLCraggs|
|Secretary/Charity Manager|MissHGriffiths|
|Gharity number|11646'14(linked 1164614-1)|
|Company number|09651032|
|Principal address|The OvalOffice|
||St Peter'sPark|
||CobblersWay|
||Radstock|
||BA33BX|
|Registeredoffice|The OvalOffice|
||St Peter'sPark|
||CobblersWay|
||Radstock|
||BA33BX|
|Auditor|CaladineLimited|
||ChantryHouse|
||66
r r--^J--
h--l
zzLrppcil.uilnudu|
||Eastbourne|
||EastSussex|
||BN211BF|
|Bankers|CAFBank|
||25 Kings HillAvenue|
||Kings Hill|
||WestMalling|
||Kent|
||ME194JQ|
|Solicitors|Lawson Lewis Blakers|
||11Hyde Gardens|
||Eastbourne|
||EastSussex|
||BN214PP|
|lnvestment managers|Rathbones|
||8FinsburyCircus|
||London|
||ECZMTAZ|
##
##
||Page|
|---|---|
|Trustees'report|1-6|
|StatementofTrustees' responsibilities|7|
|lndependent auditor's report|8-9|
|Statementoffinancial activities|10|
|Statementoffinancialposition|11|
|Statementof cashflows|12|
|Notes tothe financial statements|13-22|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|AssetClass|Weighting(%)|AllowedRanges(%) Relevantlndex|AllowedRanges(%) Relevantlndex|
|---|---|---|---|
|Fixed Interest|25|20-50|FTSE UKGiltsAll Stocks|
|Equities(splitbelow)|60|40-80||
|-UKEquities|30||FTSEAll-Share|
|-Overseas Equities|30||FTSEAll World Ex-UK(t)|
|Alternatives|10|10-25|50% FTSE UK CommercialProperty|
||||50%3-Month LIBOR+2%|
|Gash|5|0-20|7-DayLIBOR|
|Total|100||Composite of the above|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||Unrestricted Unrestricted|Unrestricted Unrestricted|Unrestricted Unrestricted|TotalUnrestrictedUnrestricted|TotalUnrestrictedUnrestricted|TotalUnrestrictedUnrestricted|Total|
|---|---|---|---|---|---|---|---|
|||funds|
funds||funds|
funds||
|Notes||generaldesignated
2020
2020
€
f||2020
€fe|generaldesignated
2019
2019||2019I|
|lncomefrom:||||||||
|lnvestments|3|406,547||406,547|480,036||480,036|
|Exoenditure on:||||||||
|Raising funds|4|67,447||67,447|74,341||74,341|
|Charitable activities||||||||
|Befriending project|5|60,602||60,602|81,175||81,175|
|Christian work-UK|5|705,309||705,309|563,979||563,979|
|Christian work-lntl|5|515,000||515,000|599,749||599,749|
|Totalcharitableexpenditure||1,28O,911||1,280,9111,244,903|||1,244,903|
|Total resources||||||||
|expended||1,348,358||1,348,3581,319,244|||1,319,244|
|Net gains/(losses)on
investments|10|(350,130)||(350,130)|923,2O3||923,203|
|Netmovement infunds|(1,2e1,941)|||(1,291,941)83,995|||83,995|
|Fund balancesat1||||||||
|December2019||7,922,840|7,500,000|15,422,8407,838,845||7,500,000|15,338,845|
|Fund balancesat30||||||||
|November2020||6,630,899|7,500,000|14,130,8997|,922,840|7,500,000|15,422,840|
##
##
##
||||2020|201|9|
|---|---|---|---|---|---|
||Notes|c|c|e|s|
|Fixedassets||||||
|Property,plant and equipment|11||10,054||6,195|
|lnvestments|12||13,948,352||14,451,587|
||||13,958,406||14,457,782|
|Gurrentassets||||||
|Tradeand other receivables|13|4,444||3,849||
|Cash atbank andin hand||391,608||1,286,524||
|||396,052||1,290,373||
|Gurrentliabilities|14|(223,559)||(325,315)||
|Netcurrent assets|||172,493||965,058|
|Totalassets lesscurrent liabilities|||14,130,899||15,422,840|
|lncomefunds||||||
|Unrestrictedfunds - designated|15||7,500,000||7,500,000|
|Unrestrictedfunds -general|||6,630,899||7,922,840|
||||14,130,899||"t5,422,840|
##
##
##
||||2020|201|I|
|---|---|---|---|---|---|
||Notes|€|t|t|f|
|Gashflows fromoperatingactivities||||||
|Cash absorbedbyoperations|20||(1,445,160)||(1,350,569)|
|lnvestingactivities||||||
|Purchase of property, plantandequipment||(9,408)||||
|Purchaseofinvestments||(2,677,243)||(3,772,512)||
|Proceeds on disposalofinvestments||2,830,348||5,368,295||
|Investment income received||406,547||480,036||
|Netcash generatedfrominvesting||||||
|activities|||550,244||2,075,819|
|Net(decrease)/increase in cash and cash||||||
|equivalents|||(8s4,916)||725,250|
|Cashand cash equivalents at beginningofyear|||1,286,524||561,274|
|Cashand cash equivalentsat endof year|||391,608||1,286,524|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||UnrestrictedUnrestricted|UnrestrictedUnrestricted|
|---|---|---|
||funds|funds|
||general
2020
gf|general
2019|
|Dividends|406,277|479,791|
|lnterest receivable|270|245|
||406,547|480,036|
##
|UnrestrictedUnrestricted|UnrestrictedUnrestricted|
|---|---|
|funds|funds|
|general
2020|general
2019|
|cf||
|67,447|74,341|
##
##
##
##
||Befrienrding
project|Ghristian
work- UK|Christian
work-lntl|TotalBefriending
2020
project|TotalBefriending
2020
project|TotalBefriending
2020
project|Christian
work-UK|Christian
work-lntl|Christian
work-lntl|Total
2019|
|---|---|---|---|---|---|---|---|---|---|---|
||"1020t|2020
t|2020
f|t||2019
t|2019
e||2019
t|t|
|Staff costs|42,678|||42,678||43,931||||43,931|
|Other directcosts|7,470|||7,470||20,252||||20,252|
|Training||||||424||||424|
|Officeexpenses|356|||356||388||||388|
|Travelling expenses|4,544|||4,544||7,640||||7,640|
||55,048|||55,048||72,635||||72,635|
|Grant funding of activities(seenote6)||640,673467,803||1,108,476|||504,651||536,650|1,041,301|
|Shareofsupport costs(seenote7)|4,636|53,950|39,394|97,980||7,062|49,062||52,180|108,304|
|Share of governance costs(seenote7)|918|10,686|7,803|19,407||1,478|10,266||10,919|22,663|
||60,602705,309515,000|||1,280,911|:|81,175|563,979||599,749|1,244,903|
##
##
##
||Christian|Christian|Christian||Christian|Christian||
|---|---|---|---|---|---|---|---|
||work- UK|work-lntl||Total|work -UK|work-lntl|Total|
||2020
f||2020f|2020
€|2019
f|2019
f|2019
t|
|Grants toinstitutions:||||||||
|Tearfund|||5,000|5,000||30,000|30,000|
|The Matthew 25Mission|30,000|||30,000|30,000||30,000|
|The KEYS Project|12,000|||12,000|30,000||30,000|
|StWilfrid'sHospice|30,000|||30,000||||
|Grants abovef15,000to
e30,000(13institutions)|190,000||83,000273,000||182,000|122,000|304,000|
|Otherf15,000 and||||||||
|below(114institutions)|378,673||379,803|758,476|262,651|384,650|647,301|
||640,673||467,803|1,108,476504,651536,650|||1,041,301|
|||:||||||
##
|Supportcosts|||||||
|---|---|---|---|---|---|---|
||SupportGovernance
costs
costs
f€||Total
2020
t|SupportGovernance
costs
costs
tf||Total
2019
t|
|Staffcosts|55,441|7,792|63,233|52,005|7,870|59,875|
|Depreciation|5,549||5,549|4,471||4,471|
|lnsurance|2,673||2,673|2,505||2,505|
|Travel and subsistence|1,438||1,438|6,362||6,362|
|Grant management|10,662||10,662|10,393||10,393|
|Phone and internet|2,488||2,488|2,139||2,139|
|Printing, postageand|||||||
|stationery|967||967|1,785||1,785|
|lTsupport|7,014||7,O14|14,598||14,598|
|Rent|8,078||8,078|7,692||7,692|
|Computer and software|3,077||3,077|1,552||1,552|
|Training|593||593|2,034||2,034|
|Website||||2,768||2,768|
|Audit fees||3,600|3,600||3,600|3,600|
|Accountancy||3,903|3,903||3,955|3,955|
|Legal and professional||420|420||||
|Trustee meeting costs||3,132|3,132||6,573|6,573|
|Subscriptions||174|174||133|133|
|Bank charges||386|386||532|532|
||97,980|19,407|117,387|108,304|22,663|130,967|
|Analvsedbetween|||||||
|Charitable activities|97,980|19,407|117,387|108,304|22,663|130,967|
##
##
##
##
||2020|2019|
|---|---|---|
||Number|Number|
|Pastoral|4|4|
|Support|3|3|
|Total|7|7|
|Employmentcosts|2020|2019|
||f|f|
|Wages and salaries|96,941|94,869|
|Social security costs|2,662|3,452|
|Otherpensioncosts|6,308|5,485|
||105,911|103,806|
||UnrestrictedUnrestricted|UnrestrictedUnrestricted|
|---|---|---|
||funds|funds|
||general
2020
tc|general
2019|
|Revaluation of investments|(170,498)|874,621|
|Gain/(loss)onsale ofinvestments|(17e,632)|48,582|
||(350,130)|923.203|
||:|:|
##
##
##
|Property, plantandequipment|||||
|---|---|---|---|---|
||FixturesComputers||Motor|Total|
||and||vehicle||
||equipment
tf||€|€|
|Cost|||||
|At1December 2019|1,428|4,460|14,995|20,883|
|Additions||9,408||9,408|
|At 30 November 2020|1,428|13,868|14,995|30,291|
|Depreciation and impairment
At1December2019|1,428|4,263|8,997|14,688|
|Depreciation chargedinthe year||550
2,|2,999|5,549|
|At 30 November 2020|1,428|6,813|11,996|20,237|
|Garrying amount
At 30 November2O2O||7,055|2,999|10,054|
|At 30 November2019||197|5,998|6,195|
##
||Listed|
|---|---|
||investments|
||f|
|Gost orvaluation||
|At1December2019|14,451,587|
|Additions|2,677,243|
|Valuation changes|(170,498)|
|Disposals|(3,009,980)|
|At30 November 2020|13,948,352|
|Carrying amount||
|At 30 November 2020|13,948,352|
|At 30 November2019|14,451,587|
|13|Tradeand other receivables|||
|---|---|---|---|
||Amounts fallingduewithinoneyear:|2020
€|201If|
||Prepayments and accrued income|4,444|3,849|
##
##
##
|Currentliabilities|||
|---|---|---|
||2020|2019|
||€|f|
|Grants payable|216,795|319,000|
|Other payables|404|195|
|Accruals and deferredincome|6,360|6j20|
||223,559|325,315|
##
##
##
|||Movement|Movement|
|---|---|---|---|
|||infunds|infunds|
||Balanceat
IDecember
20i8t|lncoming
lesoutces
f|Balanceat
lncomingBalanceat
1Decemberresources30November
z0i9
2020
ses|
|Capital designated togenerateincome|7,500,000||7,500,000
7,500,000|
||Unrestricted Unrestricted
funds
funds|Unrestricted Unrestricted
funds
funds|Total|UnrestrictedUnrestricted
funds
funds|UnrestrictedUnrestricted
funds
funds|Total|
|---|---|---|---|---|---|---|
||generaldesignated
2020
2020
It||2020
I|generaldesignated
2019
2019
tt||2019I|
|Fund balances are|representedby:||||||
|Property,plantand|||||||
|equipment|10,054||10,054|6,195||6,195|
|lnvestments|6,448,352|7,500,000|'13,948,352|6,951,587|7,500,000|14,451,587|
|Current assets/|||||||
|(liabilities)|172,493||172,493965,058|||965,058|
||6,630,899|7,500,000|14,130,8997,922,840||7,500,000|15,422,840|
##
##
##
||2020I||2019
f|
|---|---|---|---|
|Within one year|7,762||7,762|
|Between two and five years|3,881||11,643|
||11,643||19,405|
|||:||
##
|20|Cash generatedfromoperations|2020
f|201 9t|
|---|---|---|---|
||(Deficit)/surplusforthe year|(1,2e1,941)83,ee5||
||Adjustmentsfor:|||
||lnvestment income recognised in statementoffinancial activities|(406,547)|(480,036)|
||Loss/(gain)ondisposal of investments|179,632|(48,582)|
||Fairvalue gains and lossesoninvestments|170,498|(874,621)|
||Depreciation and impairment ofproperty,plant and equipment|5,549|4,471|
||Movementsinworkingcapital:|||
||(lncrease)/decreaseintrade and other receivables|(5e5)|5,931|
||lncreaseintrade and other payables|449|173|
||(Decrease)indeferred income|(102,205)|(41,900)|
||Cash absorbed by operations|(1,445,160)|(1,350,569)|