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|||Page|
|---|---|---|
|Trustees' report||1-9|
|Statement
oftrustees'|responsibilities|10|
|Independent
auditor's|report|11-14|
|Statement offinancial|activities|15|
|Balance sheet||16|
|Statement ofcash flows||17|
|Notes to the financial|statements|18-30|
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||||||Unrestricted|Restricted|Total 2020|
|---|---|---|---|---|---|---|---|
|income|||||51,086,938|5521,007|51,607,945|
|xpenditure|||||(5139,391)|(5216,637)|(5356,028)|
|Less net assets|transferred||from|unincorporated|(5847,303)|(5250,034)|(F1,097,337)|
|charity||||||||
|Transfers|||||530,000|(630,000)||
|Actual operational||results|||5130,244|524,336|5154,580|
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|Charity number|Charity number||1183216|||
|---|---|---|---|---|---|
|Governing|document||CIO - Association
registered||1 May 2019|
|Trustees|||Mr D Wood|||
||||MrJW Wright|||
||||Mr P Marshall|||
|Key management||personnel|David Edwards|- Lead Pastor||
||||Faye Edwards - Associate Lead Pastor and Jesus Cares|||
||||Project Co-ordinator|||
||||Hayley Corley -|PA and Office Manager||
|Principal|office||Kings Church Administrative||Office|
||||71 Lower Dock|Street||
||||Newport|||
||||NP20 1EH|||
|Bankers|||Barclays Bank PLC|||
||||14Commercial|Street||
||||Newport|||
||||NP20 1HE|||
|Auditors|||Azets Audit Services|||
||||Ty Derw|||
||||Lime Tree Court|||
||||Cardiif Gate Business Park|||
||||Cardiff|||
||||CF23 8AB|||
|Solicitors|||Harding
Evans|||
||||Queens Chambers|||
||||2 North Street|||
||||Newport|||
||||NP20 1TE|||
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||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|||
||||||2020|2020|2020|2019|
|||||Notes||6||6|
|Iouunafotm.|||||||||
|Donations
and|legacies|||3|1,079,095|250,034|1,329,129||
|Charitable
activities||||4|2,500|270,973|273,473||
|Other trading
activities||||5|4,922||4,922||
|Investments||||6|421||421||
|Total income|||||1,086,938|521,007|1,607,945||
|EzgagfIihDtJtg;|||||||||
|Charitable
activities||||7|139,391|216,637|356,028||
|Net Incoming|resources||before transfers||947,547|304,370|1,251,917||
|Gross transfers||between|funds||30,000|(30,000)|||
|Net income for||the yearl|||||||
|Net movement||in funds|||977,547|274,370|1,251,917||
|Fund balances|at 1 January 2020||||||||
|Fiind balanoeS||at 31Deoentber 2020|||977,547|274,370|'l,251,9'l7||
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|||||||2020|2019|
|---|---|---|---|---|---|---|---|
||||Notes|||8|8|
|Fixed assets||||||||
|Tangible assets||||||1,040,059||
|Current assets||||||||
|Debtors||||12||36,505||
|Cash at bank and in|hand|||||452,704||
|||||||489,209||
|Creditors: amounts|falling|due within||||||
|one year||||13||(33,076)||
|Net current assets||||||456,133||
|Total assets less current liabilities||||||1,496,192||
|Creditors: amounts|falling|due after||||||
|more than one year||||15||(244,275)||
|Net assets||||||1,251,917||
|Income funds||||||||
|Restricted funds||||17||274,370||
|~nr
~tri
ad funds||||||||
|Designated
funds||||18||807,820||
|General unrestricted|funds|||||169,727||
|||||||977,547||
|||||||1,251,917||
|Tl
9
W
t t|t|rp|dbyth|T|i|..I.'9./!t.j~||
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||||||2020|2019||
|---|---|---|---|---|---|---|---|
|||||Notes|6|5|g|
|Cash flows from operating|activities|||||||
|Cash generated
from/(absorbed||by)||22||||
|operations|||||1,255,824|||
|Investing
activities||||||||
|Purchase
oftangible
fixed assets|||||(19,433)|||
|Assets transferred
from unincorporated||||||||
|charity|||||(1,052,743)|||
|Investment
income received|||||421|||
|Net cash used in investing|activities||||(1,071,755)|||
|Financing
activities||||||||
|Loan transferred
from unincorporated|||charity||293,259|||
|Repayment
of bank loans|||||(24,624)|||
|Net cash generated
from/(used||in)||||||
|financing
activities|||||268,635|||
|Net increase
in cash and cash||equivalents|||452,704|||
|Cash and cash equivalents|at beginning|||ofyear||||
|Cash and cash equivalents|at end of|||year|452,704|||
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|Donations|and legacies||||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|||
||||2020|2020|2020|2019|
||||8|6|6||
|Donations|and gifts||1,079,095|250,034|1,329,129||
|Donations|and gifts||||||
|Tithes and|olferings||179,965||179,965||
|Gift aid|||31,525||31,525||
|Donations|||5,302||5,302||
|Legacy|||15,000||15,000||
|Transfer from unincorporated||charity to CIO|847,303|250,034|1,097,337||
||||1,079,095|250,034|1,329,129||
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||||||2019|
|---|---|---|---|---|---|
|||||2020||
|||||6||
||Grants|||270,973||
||Events|||2,244||
||Other income|||256||
|||||273,473||
||Analysis|by|fund|||
||Unrestricted||funds|2,500||
||Restricted funds|||270,973||
|||||273,473||
||Grants|||||
||Coronavirus||Job Retention Scheme|47,301||
||Big Lottery||Fund|208,672||
||Awards|For|All Wales|10,000||
||Newport|City Council||5,000||
|||||270,973||
|5|Other trading activities|||||
||Unrestricted|Total|
|---|---|---|
||funds||
||2020|2019|
||6|F|
|Bookshop income|22||
|Rental income|4,900||
|Other tradiBg activ'ifies|4,922||
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|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds||
|||||2020|2019|
|||||6|6|
||Interest receivable|||421||
|7|Charitable
activities|||||
||||||2019|
|||||2020||
|||||6||
||Staffcosts|||122,212||
||Depreciation|and impairment||32,117||
||Jesus Cares|Project||90,339||
||Mission donations|||5,100||
||Event costs|||22,300||
||Premises costs|||27,777||
||Administration|costs||7,914||
||Advertising|||112||
|||||307,871||
||Share ofsupport costs (see note 8)|||42,457||
||Share ofgovernance||costs (see note 8)|5,700||
|||||356,028||
||Analysis
by|fund||||
||Unrestricted|funds||139,391||
||Restricted funds|||216,637||
|||||356,028||
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|8|Support costs|||||||
|---|---|---|---|---|---|---|---|
|||Support|Govemaiice|2020|Siip'poit|Govemahce|2019|
|||costs|costsf||costs
f|costs
E||
||Stalf costs|30,553||30,553||||
||Bank &loan interest|10,628||10,628||||
||Bank charges|1,276||1,276||||
||Audit fees||5,700|5,700||||
|||42,457|5,700|48,157||||
||Analysed
between|||||||
||Charitable
activities|42,457|5,700|48,157||||
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||2020|2019|
|---|---|---|
||Number|Number|
|Employment
costs|2020|2019|
||0|E|
|Wages and salaries|141,771||
|Social security costs|8,003||
|Other pension costs|2,991||
||152,765||
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|Tangible fixed assets|||||||
|---|---|---|---|---|---|---|
||||Freehold
land|Fixtures and Motor vehloles||Total|
||||aod buildingsf|tlttlngs|||
|Cost or valuation|||||||
|Additions||||19,433||19,433|
|Net book value transferred||from unincorporated|||||
|charity|||1,035,936|4,083|12,724|1,052,743|
|At 31 December 2020|||1,035,936|23,516|12,724|1,072,176|
|Depreciation
and impairment|||||||
|Depreciation
charged|in the|year|24,251|3,848|4,018|32,117|
|At 31 December 2020|||24,251|3,848|4,018|32,117|
|Carrying
amount|||||||
|At 81 December 2020|||1,011,686|19,668|8,706|1,040,059|
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|Debtors|Debtors|||
|---|---|---|---|
|Amounts
falling due within one year:||2020f|2019f|
|Trade debtors||225||
|Other debtors||30,275||
|Prepayments|and accrued income|6,005||
|||36,505||
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|13|Creditors: amounts|falling due within one year||||
|---|---|---|---|---|---|
|||||2020|2019|
||||Notes|5|6|
||Bank loans||14|24,360||
||Trade creditors|||313||
||Accruals and deferred|income||8,403||
|||||33,076||
|14|Loans and overdrafts|||||
|||||2020|2019|
|||||6|6|
||Bank loans|||268,635||
||Payable within one year|||24,360||
||Payable after one year|||244,275||
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|Credi|tors: amounts
falling due after|more than one year|||
|---|---|---|---|---|
||||2020|2019|
|||Notes|6||
|Bank|loans|14|244,275||
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||||Movement||||
|---|---|---|---|---|---|---|
||||in funds||||
||||Incomlns|Balance st|Transfers|Balance at|
||||resourcest|January 2020||$1 December|
|||||||2020f|
|Fixed|asset|fund|||807,820|807,820|
||||||807,820|807,820|
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|22|Cash generated|from operations|from operations|||||2020f|2019
6|
|---|---|---|---|---|---|---|---|---|---|
||Surplus for the year|||||||1,251,917||
||Adjustments
for:|||||||||
||investment
income recognised||in statement||offinancial|activities||(421)||
||Depreciation
and|impairment|oftangible fixed assets|||||32,117||
||Movements
in working capital:|||||||||
||(increase)
in debtors|||||||(36,505)||
||Increase
in creditors|||||||8,716||
||Cash generated|from/(absorbed||by) operations||||1,255,824||
|23|Analysis ofchanges
in net funds|||||||||
||||||||Transferred|Cash flows|At 31December|
||||||||||2020|
||||||||||5|
||Cash at bank and|in hand|||||308,224|144,480|452,704|
||Loans falling due|within one year|||||(23,051)|(1,309)|(24,360)|
||Loans falling due|after more than one year|||||(270,208)|25,933|(244,275)|
||||||||14,965|169,104|184,069|