# **GRACE FELLOWSHIP MANCHESTER**
**Company Limited by Guarantee**
**Charity Registration Number: 1174104 Company Registration Number: 10502141**
## **Annual Report and Financial Statements 30 November 2020**
17 Heathville Road London N19 3AL
Simply Churches Chartered Accountants
## **GRACE FELLOWSHIP MANCHESTER**
## **Annual Report and Financial Statements 2020 Contents**
||**Page**|
|---|---|
|**Legal and administrative information**|**2**|
|**Annual Report of the Trustees**|**3**|
|**Independent Examiner's report to the Trustees**|**6**|
|**Statement of financial activities**|**7**|
|**Balance sheet**|**8**|
|**Notes to the financial statements**|**9**|
_1_
## **GRACE FELLOWSHIP MANCHESTER**
## **Legal and Administrative Information For the year ended 30 November 2020**
|**Charity Name**|Grace Fellowship Manchester|
|---|---|
|**Charity registration no**|1174104. Grace Fellowship Manchester was registered with the Charity Commission on|
||2 August 2017.|
|**Company registration no**|10502141. Grace Fellowship Manchester was incorporated on 29 November 2016.|
|**Principal Address**|Grace Fellowship Manchester, 83 Ducie Street, Manchester M1 2JQ|
|**Governing Document**|Memorandum and Articles of Association dated 29 November 2016.|
|**Objectives**|•
to advance the Christian faith in Greater Manchester and also in such parts of the|
||United Kingdom or the world as the elder(s) from time to time may think fit and, in|
||such ways, as they may think fit, but always in accordance with the statement of|
||beliefs;|
||•
to relieve sickness and financial hardship and to promote and preserve good health|
||by the provision of funds, goods or services of any kind in Greater Manchester and|
||in such parts of the United Kingdom or the world as the elder(s) from time to time|
||may think fit; and|
||•
to advance theological education in accordance with the statement of beliefs in such|
||ways and in such parts of the United Kingdom or the world as the elder(s) from time|
||to time may think fit.|
|**Trustees**|The Trustees who served during the year or who were serving at the date of this report|
||were:|
||Kevin Williams
(resigned 1 February 2020)|
||Perearemowei Simon Oye|
||Tim Jones|
||Samuel Jones
(appointed 18 June 2020)|
||Hannah Jones
(appointed 7 October 2020)|
|**Key Management**|Those in charge of planning, directing, controlling, running, and operating the Charity,|
|**Personnel**|including those members of staff who are the senior management personnel to whom|
||the trustees have delegated significant authority or responsibility in the day-to-day|
||running of the charity, are the Trustees.|
|**Bankers**|TSB Bank
Starling Bank Limited|
||Manchester
Finsbury Street|
||Radcliffe Branch
London|
|**Independent Examiner**|John Helm|
||Simply Churches Ltd|
||17 Heathville Road|
||London N19 3AL|
_2_
## **GRACE FELLOWSHIP MANCHESTER**
## **Annual Report of the Trustees For the year ended 30 November 2020**
The Trustees submit their annual report and the financial statements of Grace Fellowship Manchester (“GFM”) for the year ended 30 November 2020. The financial statements have been prepared in the format prescribed by the Companies Act 2006, the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2015 (FRS102)) and the Financial Reporting Standard 102. This report also constitutes a directors’ report required by section 415 of the Companies Act 2006 as all Trustees of a charity company are directors. The legal and administrative information set out earlier in this document forms part of this report.
## **1. Structure, Governance & Management**
## **1.1 Trustees**
The Trustees of GFM are responsible for the day to day management of GFM’s business in accordance with GFM’s objects. The Trustees meet unofficially regularly but officially approximately 2 times per annum to discuss a full range of matters relating to finance, general administration and the implementation of the objects of the charity.
None of GFM’s Trustees, with the exception of the Minister, receive remuneration.
The induction process for any individual newly-appointed to the Trustees comprises an initial meeting with a Minister and receipt of copies of:
- the objects of the charity
- the most recent financial statements
- the Charity Commission’s guidance ‘The Essential Trustee’.
## **1.2 Risk Management**
GFM’s primary concern and objective is the glory of God. Whilst it is GFM’s policy to trust wholly in the Lord that He will work out His purpose to this end, GFM also acknowledges that it has a responsibility for the identification and proper management of risks faced by GFM in achieving its primary aim. The Trustees have therefore assessed the major risks to which GFM is exposed, in particular those relating to the specific operational areas of the charity and its finances. The Trustees believe that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by GFM, it has established effective systems and procedures to mitigate those risks sufficiently.
## **2. Objectives, Activities & Strategies**
## **2.1 Objective**
In summary, the object of the church is to fulfil the Great Commission as a body of believers seeking to bring people to Jesus Christ and membership in His family, developing them to Christ-like maturity and equipping them for their ministry in the church and their life mission in the world in order to magnify God's name.
## **2.2 Activities**
GFM is a vibrant urban multi-ethnic, multi-national evangelical congregation with weekly attendance of around 40 to 70 people.
The Trustees have given due regard to the Charity Commissions’ guidance on public benefit. The Trustees believe that GFM provides benefit to the public by:
- Providing resources and facilities for public worship, pastoral care and spiritual, moral and educational development, both for the congregation and for anyone else who wishes to benefit from what GFM offers;
- ● promoting Christian values and service by members of the congregation to the community, for the benefit of individuals and society as a whole.
- Visiting the elderly at local care homes
_3_
## **GRACE FELLOWSHIP MANCHESTER**
## **Annual Report of the Trustees For the year ended 30 November 2020**
The main objects of GFM are carried out through the following ministries:
- Sunday afternoon services.
- Wednesday evening prayer meeting.
- Tuesday Evening Q&A
- Local outreach: seeking to serve the local community and providing spiritual support to people visiting the area.
- Care Home Outreach: Visiting local care homes to spend time with the elderly/delivering hampers to support the workers during Covid pandemic.
- Fortnightly Saturday men’s meeting, providing opportunity for men to enjoy community in accord with their faith
- Annual Ladies Day Retreat
- Annual Men’s Day Retreat.
- Media outreach to the wider Manchester community
- Children’s scripture memorization.
## **3. Achievements and Performance**
The Trustees are satisfied that the aims of the trust are being fulfilled and are working to see a continued development of the various arms of the ministry.
## **4. Financial Review**
## **4.1 Financial Activity and Financial Position**
The Statement of Financial Activities and Balance Sheet can be found on pages 7 and 8 respectively. GFM’s reserves increased by £30,795 (2019: decreased by £1,439) during the year. The balance sheet shows total net assets of £38,108 (2019: £7,313).
## **4.2 Reserves Policy**
The Trustees have examined the requirements for free reserves. The Trustees consider that, given the nature of GFM’s work, free reserves should be equivalent to approximately 3 months’ routine general fund expenditure, plus committed future expenditure on other projects, where funds permit. The Trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources and will allow GFM to cope and respond to unforeseen emergencies whilst specific action plans are implemented. As of the 30[th] of November 2020, GFM had net free reserves of £37,659 (2019: £7,064).
## **4.3 Investment Policy**
GFM currently invests its funds in short term bank deposits.
## **5. Plans for Future Periods**
Our plans are to continue in the same overall direction with the caveat that we look to God to help us adapt and respond in a manner consistent with our beliefs, to specific situations as they arise. We are also hoping to purchase a building in order to better facilitate the needs of the church as we grow.
## **6. Going Concern**
The significant events to have occurred prior to the signing of these accounts has been the lockdown restrictions made necessary by the COVID-19 pandemic, which broke out in early March 2020, together with the resignation of the Minister in February 2020.
Each year it’s the trustees’ responsibility to state whether or not the annual accounts have been drawn up on a going concern basis (see the accounting policy note on page 3). Going concern is the assumption that an entity, in this case GFM, has the resources (financial or otherwise) needed to continue operating for the foreseeable future and, in particular, for at least 12 months from the date of approval by the Trustees of these annual accounts. If the going concern principle did not apply, then the accounts would be drawn up on an insolvent basis.
_4_
## **GRACE FELLOWSHIP MANCHESTER**
## **Annual Report of the Trustees For the year ended 30 November 2020**
As part of this year’s going concern review, the trustees have had to consider the likely impact of COVID-19 pandemic on its ministry. It has concluded that the financial risks to that ministry have decreased significantly despite the lockdown restrictions imposed by the Government and the closure of the church building and halls mandated also by the government. As a result, income from offerings and giving to the church has increased significantly and is expected to increase again in the latter part of 2020 if the restrictions are lifted by the government. The impact of the lockdown on the finances of our church family members, whose giving provides the bulk of our financial support, has not been impacted adversely by the pandemic and if anything at all, the generosity and increase in giving has been a cause of great praise and rejoicing to our God.
Against this background, the GFM trustees have reviewed its financial forecast for 2021, and this review indicates that we will be able to hire and bring into our payroll a new Minister after our previous minister stepped down in February. We have gone through the recruitment process and have selected and hired a new Pastor, Timothy Conway, who started his employment on the 4[th] of January 2021. Accordingly, it has concluded that it is appropriate to prepare the 2020 Accounts on going concern basis and that it is not necessary to make any adjustment to these accounts as a result of the lockdown restrictions. The trustees will continue to keep both the short-term and longer-term impact under review into the latter part of 2020, with a view to assessing the likely carryover into 2021 and the potential positive effect on the 2021 Budget.
## **7. Responsibilities of Trustees for the Financial Statements**
The Trustees are responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles of the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.
The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. The Trustees 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 are responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.
## **8. Approval**
The report of the Trustees was approved by the Trustees on 1 June 2021 and signed on its behalf by:
## **Perearemowei Simon Oye Trustee**
_5_
## **GRACE FELLOWSHIP MANCHESTER**
## **Report of the Independent Examiner to the Trustees of Grace Fellowship Manchester**
I report on the accounts of the Grace Fellowship Manchester for the year ended 30 November 2020, set out on pages 7 to 13.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (“the 2011 Act”) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
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.
**John Helm ACA 1 June 2021**
_6_
## **GRACE FELLOWSHIP MANCHESTER**
## **Statement of Financial Activities (incorporating the income and expenditure account) For the year ended 30 November 2020**
|**Note**
**Income from:**
2
Donations and legacies
Investments
**Total Income**
**Expenditure on:**
Raising funds
3
Charitable activities
4
**Total Expenditure**
**Net income before tax**
Tax payable
5
**Net income after tax**
Transfers between funds
Other recognised gains and losses
**Net movement in funds**
**Total funds brought forward**
**Total funds carried forward**
|**Unrestricted**
**Funds**
**2020**
**£**
70,314
66|**Restricted**
**Funds**
**2020**
**£**
-
-
**0**
-
-
**0**
**0**
-
**0**
-
-
**0**
**-**
**0**||**Total**
**2019**
**£**
31,075
216|
**)**
|
|---|---|---|---|---|---|
||||**Total**|||
||||**2020**|||
||||**£**|||
|||||||
|||||||
||||70,314|||
||||66|||
|||||||
||**70,380**|||**31,291**||
||||**70,380**|||
|||||||
||65
39,520
**39,585**
**30,795**
-
**30,795**
-
-
**30,795**
**7,313**
**38,108**|||37
32,693||
|||||||
||||65|||
||||39,520|||
|||||||
|||||**32,730**||
||||**39,585**|||
|||||||
|||||**(1,439)**||
||||**30,795**|||
|||||||
|||||-||
||||-|||
|||||||
|||||**(1,439)**
-
-||
||||**30,795**|||
|||||||
||||-|||
||||-|||
|||||||
|||||**(1,439**
**8,752**||
||||**30,795**|||
|||||||
||||**7,313**|||
|||||||
|||||**7,313**||
||||**38,108**|||
|||||||
|||||||
_7_
## **GRACE FELLOWSHIP MANCHESTER**
## **Balance Sheet As at 30 November 2020**
|**Note**
**Fixed Assets**
Tangible Assets
6
**Current Assets**
Debtors
7
Cash At Bank And In Hand
**Creditors - Amounts Falling Due Within**
**One Year**
8
**Net Current Assets**
**Net Assets**
**Represented By:**
**Unrestricted Income Funds**
**Restricted Income Funds**
**Total Funds**|**Unrestricted**
**Funds**
**2020**
**£**
448
448
9,919
28,725
38,644
984
37,660
**38,108**
38,108
-
**38,108**|**Restricted**
**Funds**
**2020**
**£**
-
0
-
-
0
-
0
**0**
-
-
**0**||**Total**
**2019**
**£**
249|
|---|---|---|---|---|
||||**Total**||
||||**2020**||
||||**£**||
||||||
||||448||
||||||
|||||448
1,423
7,986|
||||448||
||||||
||||9,919||
||||||
||||28,725||
||||||
|||||9,409
2,345|
||||38,644||
||||||
||||984||
||||||
|||||7,064|
||||37,660||
||||||
|||||**7,512**|
||||**38,108**||
||||||
|||||7,313
-|
||||||
||||||
||||38,108||
||||-||
||||||
|||||**7,313**|
||||**38,108**||
||||||
||||||
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 30 November 2020 and no notice requiring an audit has been deposited under section 476.
The Trustees acknowledge their responsibilities for:
- ensuring that the company keeps accounting records which comply with section 386 of the Companies Act 2006
- preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial period and of its profit or loss for the financial period 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 is applicable to the company.
The financial statements were approved by the Trustees on 1 June 2021 and signed on their behalf by:
## **Perearemowei Simon Oye Trustee**
Company Registration Number: 10502141
_8_
## **GRACE FELLOWSHIP MANCHESTER**
## **Notes to the Financial Statements For the year ended 30 November 2020**
## **1. Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **Basis of accounting**
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of freehold land and buildings which are shown at fair value.
The financial statements include all transactions, assets and liabilities for which the Church is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of church members.
The Church meets the definition of a public benefit entity under FRS 102.
## **Going Concern**
There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.
## **Income recognition**
Voluntary income and donations (including legacies) are accounted for once the Charity has entitlement to the income, it is probable the income will be received, and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period in which the relevant donation is received.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Church; this is normally upon notification of the interest paid or payable by the bank.
## **Expenditure recognition**
Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The Church is not registered for VAT and accordingly expenditure includes VAT where appropriate.
Charitable expenditure includes those costs in fulfilling the Church’s principal objects, as outlined in the Report of the Church. These include grants payable and governance costs:
- Grants/gifts payable are payments made to third parties in furtherance of the Church’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Church.
- Governance costs comprise all costs involving the public accountability of the Church and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.
## **Taxation**
As a charity, the Church is exempt from tax on income and gains falling within the provisions of the Corporation Taxes Act 2010 or the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the Trust.
## **Debtors**
Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
_9_
## **GRACE FELLOWSHIP MANCHESTER**
## **Notes to the Financial Statements For the year ended 30 November 2020**
## **1. Accounting Policies (continued)**
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount. Provisions have been calculated at the best estimate of the settlement amount and discounted to present value at the reporting date.
## **Fund accounting**
The funds held by the charity are either:
- Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
- Restricted funds - these are funds that 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.
## **2. Income**
|**Unrestricted**
**Funds**
**2020**
**£**
**Restricted**
**Funds**
**2020**
**£**
Donations and legacies
Offerings and donations
59,446
-
Income tax reclaimed
10,868
-
70,314
0
Investment income
Interest
66
-
**70,380**
**0**||**Total**
**2019**
**£**
25,843
5,232
31,075
216
**31,291**|
|---|---|---|
||**Total**||
||**2020**||
||**£**||
||||
||||
||59,446||
||10,868||
||||
||70,314||
||||
||66||
||||
||**70,380**||
||||
## **3. Expenditure – Raising Funds**
|
Collecting agent fees and charges|**2020**
**£**|**2019**
**£**
37|
|---|---|---|
||||
||65||
||||
_10_
## **GRACE FELLOWSHIP MANCHESTER**
## **Notes to the Financial Statements For the year ended 30 November 2020**
## **4. Expenditure – Charitable Activities**
|**Unrestricted**
**Funds**
**2020**
**£**
**Restricted**
**Funds**
**2020**
**£**
Ministry personnel (salaries and accommodation)
11,160
-
Church Life & Outreach
14,518
-
Office & administration
5,615
-
Buildings & facilities
7,267
-
Governance
960
-
**39,520**
**0**||||**Total**
**2019**
**£**
17,394
10,354
2,011
1,854
1,080
**32,693**|
|---|---|---|---|---|
|||**Total**|||
|||**2020**|||
|||**£**|||
||||||
|||11,160|||
|||14,518|||
|||5,615|||
|||7,267|||
|||960|||
||||||
|||**39,520**|||
||||||
|Ministry personnel costs are as follows:
Gross salaries
Employer’s National Insurance
Employers Allowance
Pension costs
Of which the following gross salaries were in relation to Key Management Personnel:||**2020**
**£**
5,497
250
(250)
83
**5,580**
**3,826**|**2019**
**£**
17,086
929
(929)
308
**17,394**
**16,680**|
|---|---|---|---|
|||**2020**||
|||**£**||
|||||
|||5,497||
|||250||
|||(250)||
|||
83||
|||||
|||**5,580**||
|||||
|||**3,826**||
|||||
There was 1 full time employee. No employee received emoluments in excess of £60,000 during the year. Trustees received £1,209 (2019: £6,297) in reimbursement for travel and subsistence costs incurred on GFM business.
Included in Governance costs is the cost of the independent examination £960 (2019: £1,080). Other fees paid to the independent examiner totalled £534 (2019: £ nil).
## **5. Taxation**
As a charity, GFM is exempt from tax on income and gains falling within the provisions of the Corporation Taxes Act 2010 or the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the Charity.
_11_
## **GRACE FELLOWSHIP MANCHESTER**
## **Notes to the Financial Statements For the year ended 30 November 2020**
## **6. Tangible Fixed Assets**
|**Cost**
At 1 December 2019
Additions
Disposals
At 30 November 2020
**Depreciation**
At 1 December 2019
Charge For Period
Disposals
At 30 November 2020
**Net Book Value**
At 30 November 2020
At 30 November 2019||**Fixtures,**|
|---|---|---|
|||**fittings &**|
|||**equipment**|
|||**£**|
||||
|||424|
|||407|
|||-|
||||
|||831|
||||
||||
|||175|
|||208|
|||-|
||||
|||383|
||||
||||
|||448|
||||
|||249|
||||
All of the fixed assets are used for charitable purposes.
## **7. Debtors**
|Gift Aid tax receivable
Other||**2020**||**2019**
**£**
1,423
-
**1,423**|
|---|---|---|---|---|
|||**£**|||
||||||
|||9,919|||
|||-|||
||||||
|||**9,919**|||
||||||
## **8. Creditors - Amounts Falling Due Within One Year**
|**8. Creditors - Amounts Falling Due Within One Year**|||||
|---|---|---|---|---|
|
Other creditors including taxation and social security
Accruals||**2020**||**2019**
**£**
1,445
900
**2,345**|
|||**£**|||
||||||
|||84|||
|||900|||
||||||
|||**984**|||
||||||
_12_
## **GRACE FELLOWSHIP MANCHESTER**
**Notes to the Financial Statements For the year ended 30 November 2020**
## **9. Related Party Transactions**
Kevin Williams, a Trustee until 1 February 2020, received gross remuneration of £5,497 (2019: £17,086) and pension contributions of £83 (2019: £308) during the year in his employed capacity of Minister. Kevin received an ex-gratia gift of £2,100 following the end of his employment as Minister.
The Trustees who disclosed their name at the time of their gifts gave a total of £14,785 (2019: £3,050) in unrestricted offerings and donations during the year.
## **10. Members Funds**
The company is a private company limited by guarantee with no share capital. The liability of the members is limited to £1 in the event of a winding up.
_13_