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|TABLE OF CONTENTS|||
|---|---|---|
|||PAGE|
|Trustees Report||1to6|
|Auditor's
Report||7 to 9|
|Statement
of Financial|Activities|10|
|Balance Sheet|||
|Notes to the Financial|Statements|12to 22|
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|INCOMING
RESOURCES||||2021|2020|
|---|---|---|---|---|---|
||Note|Restricted
E|Unrestrict.
f|Total
E|Totalf|
|Charitable
Activities|3||291,863|291,863|304,180|
|Investment
income||16|100,760|100,776|116,713|
|Other Income|||2,500,100|2,500,100|1,226|
|||16|2,892,723|2,892,739|422,119|
|RESOURCES EXPENDED||||||
|Raising offunds
Charitable
activities||9|1,324,568|1,324,577|76,380|
|Support|||277,854|277,854|317,625|
|Premises cost|||41,088|41,088|37,831|
|Governance
Others|||6,625
26,500|6,625
26,500|6,632
151,499|
|TOTAL RESOURCES USED||9|1,676,636|1,676,645|589,967|
|NET SURPLUS FOR THE YEAR
before revaluation
adjustments||7|1,216,087|1,216,094|(167,848)|
|Gains on revaluation
of||||||
|Fixed assets|||470,017|470,017||
|Prior year adjustment|||1,447,865|1,447,865||
|BALANCE BROUGHT FORWARD||7,132|8,039,819|8,046,951|8,214,796|
|BALANCE CARRIED FORWARD||7,139|11,173,788|11,180,927|8,046,948|
##
|Operating|Surplus||||1,213,319|
|---|---|---|---|---|---|
|Add:||||||
|Increase|in debtors|||(124,927)||
|Increase|in short term investments|||||
|Increase|in creditors|||6,785||
||||||(118,142)|
|Net cashflow from operating||activities|||1,095,177|
|Cashf low Statement||||||
|Net cashflow from operating||activities|||1,095,177|
|Return on investments|||||2,775|
|Changes|in net unds||||1,097,952|
|RECONCILIATION
OF NET||CASHFLOW TO MOVEMENT||||
|IN NET|LIQUID FUNDS|||||
|Increase|in cash||||4,849|
|Increase|in TMCP Trust funds-||Liquid resources||1,093,103|
||||||1,097,952|
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||Restricted|Unrestrict.|Total|Total|
||||Funds|Funds|Funds|Funds|
|||||||E|
|3.1 Charitable
Activities income|||||||
||Circuit assessments|||291,863|291,863|304,180|
|3.2|Investment
income||||||
||Central Finance|Board Interest||95|95|289|
||TMCP Interest||16|2,664|2,680|7,568|
||Rental income|||98,001|98,001|108,856|
||||16|100,760|100,776|116,713|
|3.3Other income|||||||
||Others|||100|100|1,226|
||Sale of Lambeth|Mission||2,500,000|2,500,000||
|||||2,500,100|2,500,100|1,226|
|Total|income||16|2,892,723|2,892,739|422,119|
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|||||||2021|2020||
|---|---|---|---|---|---|---|---|---|
|||||Restricted|Unrestrict.|Total|Total||
|||||Funds|Funds|Funds|Funds||
|||||E|E|F|E||
|4.RESOURCES EXPENDED|||||||||
|4.1 EXPENDITURE|ON RAISING FUNDS||||||||
|Properties
Repairs and Maintenance|||||1,920|1,920|5,671||
|Rent Collection|||||6,360|6,360|6,863||
|TMCP- levy|||||54,658|54,667|58,737||
|TMCP - levy on sale|of Lambeth|Mission|||804,916|804,916|||
|Professional fees- Sale of Lambeth|||Mission||437,705|437,705|||
|Legal Fees- Chestnut
Road|||||760|760|||
|Bad debt provision|||||9,208|9,208|||
|Audit Fees|||||1,650|1,650||900|
|Accountancy
Fees||||||||360|
|TMCP Charges|||||558|558||603|
|Legal Fees- General||||||||133|
|Other Professional|Charges|||||||215|
|Telephone|||||1,047|1,047||871|
|Post, Print and Stationery|||||985|985||688|
|Youth Expenses|||||2,015|2,015||200|
|Sundry expenses|||||2,786|2,786|1,139||
|||||9|1,324,568|1,324,577|76,380||
|4.2 EXPENDITURE|ON CHARITABLE||||||||
|ACTIVITIES|||||||||
|4.2.1
SUPPORT COST|4.2.1
SUPPORT COST||||
|---|---|---|---|---|
|District Assessment||65,248|65,248|65,568|
|Stipends,
Pension|and NIC|177,711|177,711|185,501|
|Salaries and NIC||34,137|34,137|38,331|
|Grants and Donations||||23,546|
|Ministers'
travelling|expenses|758|758|4,679|
|||277,854|277,854|317,625|
##
||||||2021|2020|
|---|---|---|---|---|---|---|
||||Restricted|Unrestrict.|Total|Total|
||||Funds|Funds|Funds|Funds|
||||E|E|E|E|
|4.2.2|PREMISES COST||||||
|4.2.2.1|Premises Expenses||||||
|Repairs to Manses||||13,328|13,328|11,177|
|Manses
Utilites||||19,216|19,216|19,521|
|Insurance||||8,544|8,544|7,133|
|||||41,088|41,088|37,831|
|4.2.2.2|Governance costs||||||
|Audit Fees||||4,950|4,950|2,700|
|Accountancy|Fees|||||1,080|
|TMCP Charges||||1,675|1,675|1,808|
|Legal Fees||||||399|
|Other Professional||Charges||||645|
|||||6,625|6,625|6,632|
|4.2.2.3|Others||||||
|Telephone||||3,141|3,141|2,614|
|Post, Print|and Stationery|||2,956|2,956|2,063|
|Youth Expenses||||6,045|6,045|600|
|Sundry expenses||||8,358|8,358|3,416|
|Bad debts-|Churches|||6,000|6,000|142,805|
|||||26,500|26,500|151,499|
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|5. SURPLUS/DEFICIT|5. SURPLUS/DEFICIT|FOR THE YEAR|||
|---|---|---|---|---|
||||2021|2020|
||||E|E|
|The deficit|for the year was arrived at after||||
|charging|||||
|Auditors||Fees|6,600|3,600|
|Legal fees||Other services|1,140|1,440
532|
|6.GAINS ON REVALUATION
OF FIXEDASSETS|||||
|Revaluation|offixed|assets- Manses|250,000||
|Revaluation|of investment
properties||220,017||
||||470,017||
|7.PRIOR YEAR ADJUSTMENTS|||||
|Revaluation|loss on|fixed assets investments|(373,034)||
|Surplus
on|revaluation
of manses||1,820,899||
||||1,447,865||
|8. PAYMENT TO LAY EMPLOYEES|||||
|Salaries|||30,853|35,146|
|Employers
National
Pension
contribution||insurance|1,926
1,358|1,860
1,325|
|Average
number
of||employees|34,137|38,331|
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||2021|2020|
|---|---|---|
||E|f|
|Sale of property
-Trust 15175
De-Bourcier Bequest- Trust 8976
Clapham
model trust fund
De-Bourcier Bequest-8976B /8976A
Bernard Searle Bequest- Trust 17694
Circuit Model Trust - Trust 22136|22,378
3,108
16,249
1,556
1,957,689|22,348
3,104
19,064
16,249
1,554
845,558|
||2,000,981|907,878|
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|||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|
|||||||||E|E|
|11.DEBTORS||||||||||
|Circuit Assessments
from churches||||||||178,045|51,422|
|Loan to Churches||||||||22,000|11,000|
|Prepayments||||||||17,260|29,956|
|||||||||217,305|92,378|
|Basic financial assets,|including|other debtors|||and|prepayments|are|||
|initially recognised
at transaction|||price,|unless|the|arrangement||||
|constitutes
a financing|transaction,||where the||the|future receipts||||
|discounted
at a martket|rate of|interest.||Such|assets are|||||
|subsequently
carried at amortised|||cost|using|the|effective interest||||
|method,
less any impairment.||||||||||
|12.BANK AND CASH BALANCES||||||||||
|HSBC Current account||||||||53,047|44,356|
|Central Finance Board|ofthe Methodist|||Church-Deposit||||76,214|80,055|
|||||||||129,261|124,411|
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|13.CREDITORS:|Amounts|falling diw within one year|falling diw within one year|falling diw within one year||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|Rents received|in advance|||||4,370|4,370|
|Other creditors||||||26,102|44,588|
|Loans||||||60,000|60,000|
|Accruals||||||46,164|20,893|
|||||||136,636|129,851|
|Basic financial|liabilities,|including|trade and other creditors,|||||
|loans from third|parties|and loans|from related|parties are||||
|initially recognised
at transaction|||price, unless|the arrangement||||
|constitutes
a financing
transaction,|||where the|debt instrument||||
|is measured
at|the present value||cfthe future|payments||||
|discounted
at a market||rate of interest. Such||instruments|are|||
|subsequently
carried at||amortised|cost using|the effective||||
|interest method,|less any impairment.|||||||
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