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2020-12-31-accounts

Charity registration number: 1183680

5th Gospel Christians

Annual Report and Financial Statements for the Year Ended 31 December 2020

5th Gospel Christians

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 19

5th Gospel Christians

Reference and Administrative Details

Trustees Sarah Prime Della Shenton Judy Ring Jane Kenyon Jonny Kowal Michael Wood Principal Office 4 York Villas Babbacombe Road Torquay Devon TQ1 3SJ Charity Registration Number 1183680 Independent Examiner Wortham Jaques Limited Chartered Accountants and Charity Advisors 130a High Street Crediton Devon EX17 3LQ

Page 1

5th Gospel Christians

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2020.

Charity Name: 5th Gospel Christians

Other names by which the charity is known: 5GC

Charity Registration Number: 1183680

Website: www.5gc.org

A. Objectives and Activities

Summary of the purposes of the charity as set out in its governing document

To advance the Christian religion for the benefit of the public in such ways as the trustees consider appropriate by relieving need, hardship and distress amongst Christian persons and their families and dependents (in particular, but without limitation, those in the Latin Patriarchate of Jerusalem including Palestine, Israel, Jordan and Cyprus) who have become displaced persons or refugees from their countries of origin or domicile by reason of hostilities or religious persecution, oppression or discrimination or other like causes.

Additional details - Policies on Grant Making and other Assistance to Refugees & other Beneficiaries

A key policy of the charity is direct engagement with the beneficiaries by visits, email and telephone, and to link parishes and individuals with parishes and charitable organisations in the Latin Patriarchate of Jerusalem.

Hard copies and a database of asylum-seeker and refugee families supported by the charity are kept in a secure office. Confidential personal information is also electronically stored in accordance with GDPR regulations and the Charity’s Privacy Policy. The core document for each refugee family is registration as a UNHCR Asylum Seeker in transit for re-settlement in a third country. Files are updated as new families arrive and archived when families obtain visas and leave.

Financial distributions for basic sustenance are made to each family of the community on a per capita basis. Assistance with rent and food boxes for a family are given per household, as several families share accommodation.

Assistance for chronic medical conditions is given where major medical charities cannot offer support, and a consultant’s fee is paid when, in their discretion, the trustees feel it necessary.

Assistance for acute medical need is given from funds raised by special appeal for the purpose.

Assistance for mental health and parenting is given to the refugees both in workshops and individually, with professional psychological support.

Equitable Policies for grant-making and assistance are safeguarded by keeping trustees and advisors in close touch with the needs of the communities in Jordan, Palestine and Israel.

Type of governing document: Constitution

How the charity is constituted: CIO

Trustee and Council selection: persons with the expertise to fulfill the aims and objectives of the charity.

Page 2

5th Gospel Christians

Trustees' Report

The charity trustees

Sarah Prime Chair 1 Jan - 25 Jul 2020 Della Shenton Chair 25 Jul - 31 Dec 2020 Secretary 1 Jan - 31 Dec 2020 Judy Ring Treasurer 1 Jan - 31 Dec 2020 Jane Kenyon Education 11 Nov- 31 Dec 2020 Jonny Kowal ESOL 11 Nov- 31 Dec 2020 Michael Wood Education 11 Nov- 31 Dec 2020

Council of Advisors

Dr Derek Indoe Psychology 1 Jan - 31 Dec 2020 Roberta Indoe Physiotherapy 1 Jan - 31 Dec 2020 Rev Gilmour McDermott Chaplain 1 Jan - 31 Dec 2020 Clare Simpson Marketing 1 Jan - 31 Dec 2020 Elizabeth Wood Education 1 Jan - 31 Dec 2020 Salaam Kikhwa Australia 25 Jul – 31 Dec 2020

Patron

Bishop Emeritus Rt. Reverend Christopher Budd

Volunteer team in Jordan

Trustees appointed a team of volunteers to assist the Charity in Jordan with support for the Iraqi refugee community and Jordanian parishes. The team members are Iraqi, except for Iptisam who is Jordanian-American and a permanent resident.

Iptisam (Sam) al Hirsh) Senior Partner - Liaison 25 Jul – 31 Dec 2020
Inaam Zaki Partner 25 Jul – 31 Dec 2020
Bassam Zaki Partner 25 Jul – 31 Dec 2020
Steven Esso Coordinating team 25 Jul – 31 Dec 2020
Rivin Qiryaqoz Coordinating team 25 Jul – 31 Dec 2020
Fada Zaki Coordinating team 25 Nov – 31 Dec 2020

Contribution made by volunteers: all the charity’s officers and personnel are volunteers, and currently fund most of their expenses to contribute to the running of the charity. The offices, flat in Jordan, facilities and equipment are provided free of charge by trustees. UK parishes and donors are all volunteers, and all fund-raising is voluntary.

Meetings: Due to Covid-19 restrictions all trustee meetings in 2020 were on Zoom, and frequent electronic contact made with advisors. Contact daily has been maintained electronically by the office with Jordan, Israel, Palestine and Australia. Trustees, Sponsors and Advisors have joined the Zoom English classes in Jordan from time to time.

Visits to Jordan and the Holy Land: a planned visit in March was cancelled and no visits were possible in 2020. The current situation impacts our key policy of direct engagement of charity personnel with the beneficiaries.

Page 3

5th Gospel Christians

Trustees' Report

Risk to the charity: Steps have been taken to address the concern mentioned in the initial Trustee Annual Report, that one trustee is doing almost all the administration as well as being its main Field Worker. An administrative assistant offered to take minutes of meetings and accompany the trustee when in Jordan. The chair stepped down in July and three new trustees were appointed to the Board, with two additional advisors. Each will bring their own interest and area of expertise

Statement confirming whether the trustees have had regard to the guidance issued by the C. Charity Commission on public benefit

The trustees have complied with their duty in section 17(5) of the 2011 Charities Act to have due regard to public benefit, and funds were used in accordance with the charity's aims.

The charity’s work was dramatically affected by two events in early 2020:

The focus in 2020: remained to assist the refugee community of 94 Christian Iraqi families in Madaba, Jordan currently in transit for re-settlement; to assist the Latin parish of St John the Baptist in Madaba, and to support the Bethlehem home for abandoned children and orphans with disabilities.

Food distribution and donations: two distributions of food boxes were made by the charity team in May and July to all 94 refugee families in Madaba, living in 87 households. External donations made to the Latin Parish in Madaba made possible a further distribution organised by the charity team at Christmas. Two significant donations were made by the charity to the Bethlehem parish of the Nativity in April, and to the children’s home in Bethlehem in May and December.

Adult Education: The Charity continued English language classes for Iraqi refugees on zoom throughout lockdown, and following the closure of the Cambridge School provided the teacher, equipment and a safe space for classes in a private flat. Exams were taken at the British Council and at the Jordanian IELTS training and test centre in Amman.

Sporting: no activities for young children were allowed due to the lockdown and pandemic.

Emergency medical assistance: there were no specific appeals in this period.

School children: All schools were closed from February until the end of July. Limited teaching was available in the meantime to school children due to lack of equipment. Few families in Madaba have computers and they rely on mobile phones for communication.

Advocacy: The charity continued its study of religious persecution, justice and human rights with reference to the Iraqi refugees. It is hoped that this and similar studies will provide valuable information and direction to contribute to public awareness and help provide assistance for the mental and physical stability of refugees.

Page 4

5th Gospel Christians

Trustees' Report

Social investment

The focus mission of the charity to asylum seekers and refugees is in long-term assistance through education, vocational training and mental well-being, to optimise the quality of life and opportunities available to them. In addition, the charity seeks the relief of hardship and distress in acute cases of poverty and medical emergencies.

English: Trustees paid attention to teaching young adults English to gain access to career opportunities online whilst living and waiting in Jordan. Examinations and focus changed to the International English Language Testing System now used by universities and professions world-wide.

Genuine financial hardship: the charity sought to address needs through the distribution of food boxes in Jordan and funds to Bethlehem.

Mental health and well-being: medical reports clarified that the severe imposition of curfew and lockdown in Bethlehem and Madaba caused serious harm to the mental health of many families and individuals, particularly to children. Conditions were bleak. Isolation, poverty, cramped living space in increasing heat, inadequate medical facilities with no outlet except TV and social media. The charity was able to relieve distress in a number of cases in young children with a programme of activities in a safe and sanitised environment, together with sessions on parenting and relaxation for the adults.

Diary of main achievements and performance 2020

Feb – Jun: when the Cambridge School in Madaba closed in February due to curfew, six students continued with lessons on Zoom incorporating the Cambridge course.

Mar: Website: after teething problems with an earlier site and the donation platform, the charity launched a new website: www.5gc.org. It is subject to ongoing refinement, aiming to be a lively site promoting the work of the charity for the benefit of the Christians of the Middle East.

Apr – Jun: Covid-19 ”family and friends” appeal launched through the website, produced funds for Bethlehem and food boxes for refugees in Madaba.

Apr £450.00 was sent directly to the Bethlehem parish

May £920.00 was sent to the children’s home in Bethlehem.

May £2,223.00 was sent for food boxes for all the refugee households in Madaba

Jul £2,225.00 was sent for food boxes for all the refugee households in Madaba

The lists, organisation of the food boxes and their distribution and signatures were all accomplished by the refugee team of students and friends working with the UK office.

Late Jun – Jul: lockdown was partially lifted and people returned to work. Schools remained closed until September. International travel remained closed until after the end of the year and all the charity’s work has been a collaborative effort directed from the UK office and carried out by our team of partners in Jordan and Palestine.

Jun – Aug: the charity launched a new IT pilot course for six weeks for six students, on a one-to-one basis at different levels, taught by a volunteer senior IT/English teacher from the UK. The laptops were supplied by the charity and by request the course was extended in October. It was taught in English.

Page 5

5th Gospel Christians

Trustees' Report

Jul: British Council Jordan announced that Cambridge examinations would not resume before 2021 but that a number of IELTS Life Skills tests would be available in late Jul and Aug. Trustees and teacher decided with students’ agreement to take the IELTS exam, and were successful. The introduction to the Jordanian Centre for IELTS training and testing convinced the charity to change to IELTS for all its EFL (English for Life) future training. The IELTS system has overtaken Cambridge to become the English language standard for visa applications, professional and university entrance in the English-speaking world.

Sep – Dec: The charity’s EFL programme resumed with Beginner levels of English classes for adults. The Intermediate level was altered to teach and focus on IELTS training.

Parenting sessions were held online from the UK for 12 weeks, along with relaxation sessions for the ladies and activities weekly for children under 12.

The charity’s team organised a Christmas Distribution of food boxes for the Iraqi families with the Latin Parish. A significant donation was sent to the children’s home in Bethlehem.

E. Financial Review

Fundraising has been difficult in this period due to lockdown. Supporters and trustees were unable to run events, to make presentations to groups or significantly to fund-raise. However, the website went live and ran a Covid-19 appeal for family and friends, and trustees continued to maintain contact with supporters by email and reports. These activities resulted in sufficient income to keep the existing projects going, to start a new IT course and fund three distributions (two in Madaba, one in Bethlehem) and to support the children’s home.

Policy on Reserves: The Trustees consider £1,000 sufficient to keep in reserves.

Principal Sources of funds: from parishes and individuals responding to fundraising appeals. Donations to cover the costs of developing the charity were given personally by a trustee, in the light of the difficulty of raising external funding due to the pandemic.

Expenditure: the charity’s expenditure has been entirely to support the key objectives of the charity.

Page 6

5th Gospel Christians

Trustees' Report

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year 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 these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. 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 annual report was approved by the trustees of the charity on 5 October 2021 and signed on its behalf by:

......................................... Della Shenton Trustee

Page 7

5th Gospel Christians

Independent Examiner's Report to the trustees of 5th Gospel Christians

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 9 to 19.

Respective responsibilities of trustees and examiner

As the charity’s trustees of 5th Gospel Christians you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the 5th Gospel Christians's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of 5th Gospel Christians as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

...................................... Charlotte Gibbs BFP ACA Wortham Jaques Limited Chartered Accountants and Charity Advisors

130a High Street Crediton Devon EX17 3LQ

19 October 2021

Page 8

5th Gospel Christians

Statement of Financial Activities for the Year Ended 31 December 2020

Note
Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12
Note
Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds carried forward
12		 Unrestricted
funds
£
10,938
10,938
(12)
(12,901)
(12,913)
(1,975)
(1,975)
1,759
(216)
Unrestricted
funds
£
9,428
9,428
(7,669)
(7,669)
1,759
1,759
1,759		 Unrestricted
funds
£
10,938		 Restricted
funds
£
15,473		 Total
2020
£
26,411
10,938 15,473 26,411
(12)
(12,901)		 (12)
(16,117)		 (24)
(29,018)
(12,913) (16,129) (29,042)
(1,975) (656) (2,631)
(1,975)
1,759		 (656)
940		 (2,631)
2,699
(216) 284 68
Restricted
funds
£
13,558
13,558
(12,618)
(12,618)
940
940
940		 Total
2019
£
22,986
22,986
(20,287)
(20,287)
2,699
2,699
2,699

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 12.

The notes on pages 11 to 19 form an integral part of these financial statements. Page 9

5th Gospel Christians

(Registration number: 1183680) Balance Sheet as at 31 December 2020

Note
Current assets
Debtors
9
Cash at bank and in hand
10
Creditors: Amounts falling due within one year
11
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
12		 2020
£
215
573
788
(720)
68
284
(216)
68		 2019
£
1,598
2,061
3,659
(960)
2,699
940
1,759
2,699

The financial statements on pages 9 to 19 were approved by the trustees, and authorised for issue on 5 October 2021 and signed on their behalf by:

......................................... Della Shenton Trustee

The notes on pages 11 to 19 form an integral part of these financial statements. Page 10

5th Gospel Christians

Notes to the Financial Statements for the Year Ended 31 December 2020

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

5th Gospel Christians meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Page 11

5th Gospel Christians

Notes to the Financial Statements for the Year Ended 31 December 2020

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Office equipment Straight line over 4 years

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 12

5th Gospel Christians

Notes to the Financial Statements for the Year Ended 31 December 2020

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income 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.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 13

5th Gospel Christians

Notes to the Financial Statements for the Year Ended 31 December 2020

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 14

5th Gospel Christians

Notes to the Financial Statements for the Year Ended 31 December 2020

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Donations from community
groups
Gift aid reclaimed
Total for period ended 31
December 2020
Total for period ended 31
December 2019		 Unrestricted funds
Designated
£
General
£
2,365
4,127
970
178
2,130
1,168
5,465
5,473
3,275
6,153		 Restricted
funds
£
14,673
1,094
(294)
15,473
13,558		 Total
funds
£
21,165
2,242
3,004
26,411
22,986

3 Expenditure on raising funds

a) Costs of generating donations and legacies

Note
Donations
Total for period ended 31
December 2020		 Unrestricted funds
Designated
£
General
£
10
2
10
2		 Restricted
funds
£
12
12		 Total
funds
£
24
24

Page 15

5th Gospel Christians

Notes to the Financial Statements for the Year Ended 31 December 2020

4 Expenditure on charitable activities

Note
Providing relief to
refugees
Governance costs
Total for period
ended 31 December
2020
Total for period
ended 31 December
2019		 Unrestricted funds
Designated
£
General
£
5,217
7,204
-
480
5,217
7,684
3,258
4,411		 Restricted
funds
£
16,117
-
16,117
12,618		 Total
funds
£
28,538
480
29,018
20,287

5 Analysis of governance and support costs

Governance costs

Independent examiner fees
Examination of the financial statements
Total for period ended 31 December 2020
Total for period ended 31 December 2019		 Unrestricted
funds
General
£
480
480
3,120		 Total
funds
£
480
480
3,120

6 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Donations made by the trustees without any conditions attached totalled £6,835 for the year (2019 - £8,438).

Page 16

5th Gospel Christians

Notes to the Financial Statements for the Year Ended 31 December 2020

7 Independent examiner's remuneration

Examination of the financial statements
Other fees to examiners
All other services
8
Taxation
The charity is a registered charity and is therefore exempt from taxation.
9
Debtors
Accrued income
10 Cash and cash equivalents
Cash at bank
11 Creditors: amounts falling due within one year
Accruals		 2020
£
480
-
2020
£
215
2020
£
573
2020
£
720		 2019
£
720
240
2019
£
1,598
2019
£
2,061
2019
£
960

Page 17

5th Gospel Christians

Notes to the Financial Statements for the Year Ended 31 December 2020

12 Funds
Unrestricted
General
Unrestricted funds
Designated
Families
Total unrestricted
Restricted
Medical
Education
Appeals
Total funds
Unrestricted funds
General
Unrestricted funds
Designated
Families
Total unrestricted funds
Restricted funds
Medical
Education
Total funds		 Balance at 1
January 2020
£
1,742
17
1,759
164
776
-
940
2,699		 Incoming
resources
£
5,473
5,465
10,938
1,976
11,867
1,798
15,641
26,579
Incoming
resources
£
6,153
3,275
9,428
4,371
9,187
13,558
22,986		 Resources
expended
£
(7,686)
(5,227)
(12,913)
(1,961)
(12,378)
(1,790)
(16,129)
(29,042)
Resources
expended
£
(4,411)
(3,258)
(7,669)
(4,207)
(8,411)
(12,618)
(20,287)		 Balance at 31
December
2020
£
(471)
255
(216)
179
265
8
452
236
Balance at 31
December
2019
£
1,742
17
1,759
164
776
940
2,699

Page 18

5th Gospel Christians

Notes to the Financial Statements for the Year Ended 31 December 2020

13 Analysis of net assets between funds

13 Analysis of net assets between funds
Current assets
Current liabilities
Total net assets
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
336
(720)
(384)
Unrestricted
funds
General
£
2,718
(960)
1,758		 Restricted
funds
£
452
-
452
Restricted
funds
£
941
-
941		 Total funds at
31 December
2020
£
788
(720)
68
Total funds at
31 December
2019
£
3,659
(960)
2,699

Page 19