## MARKETPLACE MINISTRIES TRUSTEES REPORT 2020
STATUSA Limited Charitable Company – Charity Registration No: 1165695 Company Registration No: 8815037
TRUSTEES & DIRECTORS
Lindy Strong Bonita Curtis Kay Reynolds
OFFICE2a, Burke Road, Totnes Industrial Estate, Totnes, Devon TQ9 5XL
## REGISTERED ADDRESS
INDEPENDENT EXAMINERVincent & Co. (Accountants) 37 Shiphay Lane, Torquay, Devon TQ2 7DU Tel: 01803 500500
## BANKERS
Lloyds Bank, 31 Fore Street, Totnes, TQ9 5HH
## CHARITABLE OBJECTS
The objects of the organisation are for the benefit of the public; to advance the Christian faith in accordance with the statements of belief; 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 the provision of counselling and support; and to advance education in such ways and in such parts of the UK or the world as the trustees from time to time may think fit.
## MARKETPLACE MINISTRIES: ITS AIMS AND OBJECTIVES
The ministry is a gathering of ordinary people of different ages and backgrounds, whose lives have been changed through encountering Jesus Christ, the Son of God. As a result of this we are committed to love and care for each other and to bring a manifestation of the kingdom of God to the area in which they live to see the town, community, region and nation impacted. Its trustees and members are committed to those New Testament principles.
The ministry now has community arms with their own websites. They are called Freedom Centre (www.freedomcentretotnes.com), Totnes
## Connection Hub
(www.totnesconnectionhub.co.uk), Teignmouth Connection Hub
(www.teignmouthconnectionhub.co.uk) and Forgiveness Therapy
(www.forgivenesstherapy.org). It’s sole purpose is to serve the community and as such has several projects running
The ministry takes referrals from several agencies in the town, Jobcentre, South Hams District Council, Devon County Council, CAB, Town Council, Caring Town Totnes, various schools, local churches and support workers.
Directions relating to the charity are made by the Trustees and other voluntary staff, who are responsible for governing the life and ministry. Day to day decisions on expenditure and activities are decided by the staff and volunteers in charge of different areas of the ministry, with budgets set and monitored by the Trustees.
The powers of appointment or removal of Trustees rests with the Trustees. New Trustees are primarily selected from the members or from the leaders of other organisations sharing the same vision, since this means the Trustee body is whole heartedly involved in seeing its’ objectives worked out in practice. On being appointed, new
Trustees spend time with the existing Trustees to ensure they understand their responsibilities and the legal and financial framework in which the organisation operates.
The financial resources of the ministry:
- 1.Is given by the members and their private assets and equipment are regularly used in the work of the organisation.
- 2.Gifts given to the ministry when sending teams out to work with other churches or organisations.
- 3.Income generated by running schools
- 4.Gifts by individuals who have been blessed by the work of the ministry
- 5.We have a website that takes donations from members of the public who support our aims
- 6.Subscription website
All staff and volunteers are unpaid. Some are full time and some are part time and the hours and value of that time cannot be quantified.
THE YEAR: ITS OBJECTIVES AND ACHIEVEMENTS
Continue to grow the support of Totnes
## Connection Hub
Develop more therapies at the Freedom Centre Continue to train more people in Forgiveness Therapy and extend this further.
During the year ended 31 December 2020 the main ways the ministry sought to achieve its’ objectives and its charitable purposes for the public benefit have been as follows:
Fulfilling the objects in teaching, training and showing practical care in the community. This was by running specific courses to address particular aspects of Christian living which are open to the wider community.
A new online teaching was launched, Healing and Restoration.
Mentoring established and continued with about 10 candidates in the UK and abroad
1 trip to India – Forgiveness Therapy Training 1 Trip to the USA
Forgiveness Therapy Training to train up
Therapists.
Emergency Food Parcels available for those in need to help bridge the gap until getting onto the food bank system
Totnes Connection Hub Food Bank for those people in need. The capacity of this increased immensely due to the Covid-19 pandemic. The Freedom centre was changed from a children’s play centre to temporarily holding the food bank. Then the Freedom Centre was opened as a Wellness Hub from August.
Giving Back: An initiative working with local shops making available the opportunity for people whilst having a drink, a snack, or shopping, to make a financial donation to the work for the homeless and those in need. We administer this fund and use some to finance the food parcels, and to help run Totnes Connection Hub which helps the homeless and those in need. Further training for volunteers on benefit applications, housing and other community needs
The Wellness Hub continued to be developed over the rest of the year, introducing new technologies for wellbeing as well as developing further, the talking therapies, which included, Forgiveness Therapy, Identity Therapy and
## Intuitive Energy Healing
The Trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission in December 2008.
## PLANS FOR THE NEXT YEAR
The key aims are to remain the same. Some planned activities will include:
Continue to grow the technologies available at the Wellness Hub
Expand the therapies we offer
Expand the support for people wishing to move from surviving to thriving
Introduce a new certifiable course, the Intuitive Frequency Energy Practitioner course. 2 years, potentially 3. An online course for up to 12 students.
## FINANCIAL REVIEW
The financial reserves of the ministry have been maintained during the year as members have continued to give very generously.The Trustees
have set a policy of retaining reserves sufficient for the foreseeable needs of the organisation. Where there is specific capital expenditure foreseen amounts are set aside into designated funds so the free reserves (general reserves excluding amounts invested in assets for the organisations use) are available to meet the costs of normal running and expansion of the ministry and to ensure we can meet the current and future commitments.
## GRANT MAKING POLICY
Gifts to external organisations and individuals are considered by the Trustees on the basis of need and fulfilment of the charitable objectives. There are no upper or lower limits of support.
## RISK MANAGEMENT
All major insurable risks are subject to normal charities and employers’ insurance. Contractual risks are reviewed before being entered into to assess that they could not significantly impact upon the trusts ability to fulfil its objectives. An annual review of areas of risk is undertaken by
the Trustees in conjunction with staff and volunteers responsible for the area of activity.
## STATEMENT OF TRUSTEES RESPONSIBILITIES
Charity law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the profit and loss of the Charity for that period. In preparing these accounts, the trustees are required to:-
- Select suitable accounting policies and then apply them consistently.- Make adjustments and estimates that are reasonable and prudent.Prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the Charities Acts. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees confirm that the accounts comply with current statutory requirements and those of the Charity’s trust deed.
Approved by the Board of Trustees on: 12 October 2018
and signed on its behalf by:
Lindy Strong………………………………………..
Marketplace Ministries Limited Annual Report and Financial Statements for the Year Ended 31 December 2020
## **Marketplace Ministries Limited**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Accountants' Report|2|
|Statement of financial activities|3|
|Balance Sheet|4|
|Notes to the financial statements|5 to 10|
|The following page does not form part of the statutory financial statements:||
Statement of financial activities per fund 11
## **Marketplace Ministries Limited**
## **Reference and Administrative Details**
**Charity name** Marketplace Ministries Limited **Company number** 08815037 **Charity number** 1165695 **Officers** Lindy Strong Kay Reynolds Bonita Curtis **Accountant** Vincent & Co Accountants 37 Shiphay Lane Torquay Devon TQ2 7DU
Page 1
## **Accountants' Report to the Trustees on the Unaudited Accounts of**
## **Marketplace Ministries Limited**
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, wehave compiled the financial statements of the charity which comprisethe Statement of Financial Activities,andthe related notes from the accounting records and information and explanations you have given to us.
This report is made to the Charity's Board of Trustees, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Charity's Board of Trustees that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's Board of Trustees, as a body, for our work or for this report.
You have acknowledged on the balance sheet as at 31 December 2020 your duty to ensure that the charity has kept proper accounting records and to prepare financial statements that give a true and fair view under the Charities Act 2011. You consider that the charity is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
......................................... 37 Shiphay Lane Vincent & Co Accountants Torquay Devon TQ2 7DU
Date: 10th September 2021
Page 2
## **Marketplace Ministries Limited**
## **Statement of Financial Activities for the Period Ended 31 December 2020**
|**Note**
**Incoming resources**
Incoming resources from generated funds
Donations and legacies
2
Income from other trading activities
3
Other income
4
Total incoming resources
**Resources expended**
Costs of generating funds
Expenditure on raising funds
5
Total resources expended
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Funds**
**2020**
**Total**
**Funds**
**2019**
**£**
**£**
**£**
**£**
43,555
25,294
68,849
41,342
26,512
-
26,512
9,037
25,376
-
25,376
19
95,443
25,294
120,737
50,398
53,545
14,853
68,398
52,972
53,545
14,853
68,398
52,972
41,898
10,441
52,339
(2,574)
26,748
2,118
28,866
31,440
68,646
12,559
81,205
28,866|
|---|---|
Page 3
## **Marketplace Ministries Limited**
## **Balance Sheet as at 31 December 2020**
|**Note**
**Fixed Assets**
Tangible assets
8
**Current Assets**
Debtors
9
Cash at bank and in hand
**Creditors: Amounts falling due**
**within one year**
10
Net current assets
**Net assets**
**The funds of the charity:**
**Restricted funds**
**Unrestricted funds**
Unrestricted income funds
**Shareholders' Funds**|£
£
£
£
25,237
6,979
640
56,187
22,397
56,827
22,397
(860)
(510)
81,205
28,865
81,205
28,865
12,559
2,118
68,646
26,748
81,205
28,865
2020
2019|£
£
£
£
25,237
6,979
640
56,187
22,397
56,827
22,397
(860)
(510)
81,205
28,865
81,205
28,865
12,559
2,118
68,646
26,748
81,205
28,865
2020
2019|
|---|---|---|
||||
|||28,865|
|||2,118
26,748|
|||28,865|
For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
## Bonita Curtis
Bonita Curtis (Sep 11, 2021 18:15 GMT+1)
…………………………………………..
**Signed by: Bonita Curtis 10th September 2021**
Page 4
**1**
## **Marketplace Ministries Limited**
## **Notes to Financial Statements for the Period Ended 31 December 2020**
## **Accounting policies**
The financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (Charities SORP FRSSE) (effective 1 January 2015) and applicable accounting standards.
The financial statements have been prepared under the historical cost convention. The financial statements include all transactions, assets and liabilities for which the charity is responsible in law.
## **Fund accounting policy**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Further details of each fund are disclosed in note 12.
## **Incoming resources**
Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.
## **Resources expended**
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the charity. Expenditure is generally recognised when it is incurred and is accounted for gross.
## **Fixed assets**
Individual fixed assets costing £0 or more are initially recorded at cost.
## **Depreciation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any
Plant and machinery
20% reducing balance
Page 5
## **Marketplace Ministries Limited**
## **Notes to Financial Statements for the Period Ended 31 December 2020**
_……….continued_
## **Operating leases**
Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.
**2**
**3**
## **Donations and legacies**
|**Donations and legacies**|||
|---|---|---|
|Appeals and donations
Gift Aid tax reclaimed
Schools income
Wellness Hub
Healing Retreat income
Other Events income
**Income from other trading activities**|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total**
**Funds**
**2020**
**£**
37,916
25,294
63,211
5,638
-
5,638
43,555
25,294
68,849
**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total**
**Funds**
**2020**
**£**
-
15,244
15,244
10,914
10,914
355
355
26,512
-
26,512|**Total**
**Funds**
**2019**
**£**
38,533
2,809|
|||41,342|
|||**Total**
**Funds**
**2019**
**£**
2,526
5,502
1,009|
|||9,037|
**4**
## **Other income**
|Interest Receivable
Grants|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total**
**Funds**
**2020**
**£**
36
-
36
25,341
-
25,341
25,376
-
25,376|**Total**
**Funds**
**2019**
**£**
19|
|---|---|---|
|||19|
Page 6
## **Marketplace Ministries Limited**
## **Notes to Financial Statements for the Period Ended 31 December 2020**
_……….continued_
## **5 Expenditure on raising funds**
|Provisions
Therapist costs
Gifts and Donations
Establishment costs
Repairs and maintenance
Refurbishment costs
Telephone
Printing, posting and stationery
Motor and travel expenses
Cleaning
Advertising and sponsorship
Subscriptions, licences and software
Accountancy and bookkeeping fees
Bank and PayPal charges
Wages and salaries
Training and internship costs
Miscellaneous expenses
Depreciation
Bad debts written off
Insurance|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Funds**
**2020**
7,482
5,284
12,766
1,953
-
1,953
2,040
-
2,040
20,035
7,288
27,323
1,598
925
2,523
6,309
-
6,309
1,384
222
1,606
272
6
278
247
279
526
691
257
948
1,070
416
1,487
1,869
58
1,928
570
-
570
754
118
872
-
-
213
-
213
698
-
698
-
-
6,309
-
6,309
50
50
53,545
14,853
68,398|**Funds**
**2019**
8,700
-
-
30,742
1,858
3,882
-
513
826
-
21
-
570
669
2,027
-
878
543
1,745|
|---|---|---|
|||52,974|
Page 7
## **Marketplace Ministries Limited**
## **Notes to Financial Statements for the Period Ended 31 December 2020**
_……….continued_
## **6 Depreciation of tangible fixed assets**
|||||**Total**|**Total**|
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Funds**|**Funds**|
|||**Funds**|**Funds**|**2020**|**2019**|
||Depreciation charge on furniture & equipment|6,309|-|6,309|1,745|
|||6,309|-|6,309|1,745|
|**7**|**Trustees'remuneration and expenses**|||||
||No trustees received any remuneration during|||||
|**8**|**Tangible fixed assets**|||||
|**Tangible fixed assets**|||
|---|---|---|
||**Furniture**||
||**&**||
||**Equipment**|**Total**|
|**Cost**|||
|Brought forward|10,595|10,595|
|Additions|24,568|24,568|
|As at 31 December 2020|35,163|35,163|
|**Depreciation**|||
|Brought forwards|3,616|3,616|
|Charge for the year|6,309|6,309|
|As at 31 December 2020|9,925|9,925|
|**Net book value**|||
|As at 31 December 2020|25,237|25,237|
|As at 31 December 2019|6,979|6,979|
Page 8
## **Marketplace Ministries Limited**
## **Notes to Financial Statements for the Period Ended 31 December 2020**
_……….continued_
|**9**
**10**
Accruals and deferred income
Trade Creditors
**11**
**Debtors**
Other debtors
**Creditors: Amounts falling due within one year**
**Related parties**|**2020**
**£**
**2019**
**£**
640
-
640
-
**2020**
**£**
**2019**
**£**
510
510
350
-
860
510|
|---|---|
## **Controlling entity**
The charity is controlled by the trustees.
## **Average number of employees**
Average number of employees, including directors, during the year was: 3
**12**
Page 9
## **Marketplace Ministries Limited**
## **Notes to Financial Statements for the Period Ended 31 December 2020**
_……….continued_
## **13 Analysis of funds**
|Missionary fund
**Restricted funds**
**General Funds**
Unrestricted funds|**At 1**
**January**
**2020**
**£**
26,748
2,118
-
28,866|**Incoming**
**resources**
**£**
95,443
25,294
-
120,737|**Resources**
**expended**
**£**
53,545
14,853
68,398|**At 31**
**December**
**2020**
**£**
68,646
12,559|
|---|---|---|---|---|
|||||81,205|
## **£14 Net assets by fund**
|Tangible assets
Current assets
Creditors: Amounts falling due within one year
Net assets|**Restricted**
**Funds**
**£**
-
-
-
-|**Unrestricted**
**Funds**
**£**
25,237
56,827
(860)
81,205|**Total**
**Funds**
**2020**
**£**
25,237
56,827
(860)
81,205|**Total**
**Funds**
**2019**
**£**
6,979
22,397
(510)|
|---|---|---|---|---|
|||||28,865|
Page 10
## **Marketplace Ministries Limited**
## **Statement of financial activities by fund for the Period Ended 31 December 2020**
|**Incoming resources**
Donations and legacies
Income from other trading activities
Other income
Total incoming resources
**Resources expended**
Costs of generating funds
Costs of generating voluntary income
Total resources expended
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Unrestricted**
**income fund**
**2020**
**Unrestricted**
**income fund**
**2019**
**£**
**£**
43,555
41,342
26,512
8,579
25,376
19
95,443
49,940
53,545
52,972
53,545
52,972
41,898
(3,032)
26,748
29,780
68,646
26,748|
|---|---|
Page 11
## **Marketplace Ministries Limited**
## **Statement of financial activities by fund for the Period Ended 31 December 2020**
|**Incoming resources**
Donations and legacies
Other income
Total incoming resources
**Resources expended**
Costs of generating funds
Costs of generating voluntary income
Total resources expended
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Restricted**
**income fund**
**2020**
**Restricted**
**income fund**
**2019**
**£**
**£**
25,294
458
-
25,294
458
-
14,853
14,853
-
10,441
458
2,118
1,660
12,559
2,118|
|---|---|
Page 11
## Amended Accounts - Marketplace Ministries Limited
## Final Audit Report
## 2021-09-11
Created: 2021-09-10 By: Vincent & Co (office@vincent.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAxoV5PDGNYPB2SYsssc0dXTDmY819y_pT
## "Amended Accounts - Marketplace Ministries Limited" History
Document created by Vincent & Co (office@vincent.co.uk)
2021-09-10 - 15:33:55 GMT- IP address: 195.224.101.82
Document emailed to Bonita Curtis (bonita@marketplaceministries.co.uk) for signature 2021-09-10 - 15:34:27 GMT
Email viewed by Bonita Curtis (bonita@marketplaceministries.co.uk)
2021-09-10 - 15:40:11 GMT- IP address: 92.40.171.104
Email viewed by Bonita Curtis (bonita@marketplaceministries.co.uk) 2021-09-11 - 17:15:19 GMT- IP address: 31.111.22.58
Document e-signed by Bonita Curtis (bonita@marketplaceministries.co.uk)
Signature Date: 2021-09-11 - 17:15:45 GMT - Time Source: server- IP address: 31.111.22.58
## Agreement completed.
2021-09-11 - 17:15:45 GMT
##
##