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2021-03-31-accounts

2020/21

Soul Survivor Watford

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Charity Registration No.1184088 and Company No: CE017985

SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report and accounts for the year ended 31 March 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charities constitution, the Charities Act 2011, the Companies Act 2006 and the Statement of Recommended Practice, "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)” (as amended for accounting periods commencing from 1 January 2019).

Structure, governance and management

The charity was established as a Charitable Incorporated Organisation (CIO) by a constitution and was registered as a charity with the Charity Commission on 25[th] June 2019, number 1184088 and Companies House, number CE017985 The CIO was established in order to operate the church which had been previously operated through the K & J M Morgan Trust (charity number 287472); on the 31[st] of October 2020 the Trustees of the Trust transferred all assets liabilities and operations of the charity to the CIO which the Trustees of the CIO accepted. These accounts present information for both charities and the details of individual charities are shown within the notes to the accounts.

The Trustees who served during the year were:

Kevin W Downton Chris E Gregory Alison Maffey Elizabeth Potter Emmanuel Aktpata Liza Hoeksma - Staff Trustee Revd Canon Michael Pilavachi – Staff Trustee Revd Andrew Croft – Staff Trustee Revd Jonathan Stevens – Staff Trustee

The Executive Team

Revd Canon Michael Pilavachi – Senior Pastor Revd Andrew Croft – Senior Pastor Revd Jonathan Stevens – Executive Pastor

Recruitment and appointment of new Trustees

New Trustees are appointed by the existing Trustees. Trustees are appointed to serve for 3 year terms. Written submissions from eligible applicants are reviewed by the Trustees against the role description and specification of key criteria for a Trustee. All Trustees have been provided with a copy of the 'Trustee Information Pack' produced by the Change Up for Better Governance Project funded by the Home Office. All Trustees are recommended to attend an appropriate training course on Safeguarding. Trustees receive regular updates from the Charity Commission's website.

Organisational Structure and decision making process

Teams of Trustees oversee different areas of responsibility. These areas are Finance, Health & Safety, Human Resources and Child Protection. These teams are authorised to make decisions within their specific areas of responsibility unless they consider it necessary to refer to the whole board. Expenditure of more than £1,000 has to be referred to the board for approval unless included in the previously approved budget. All staff positions are authorised by the whole board but recruitment of the person is delegated to the Executive Team. The day-to-day management of Soul Survivor Watford is delegated to the Executive Team and the staff team.

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Details of other related parties and wider networks in which the charity is involved

The charity works closely with Soul Survivor Ltd as well as with Soul61 which is a charity that runs a 10 month leadership course and is a former activity of Soul Survivor Watford.

The charity also works closely with other Christian organisations in the area especially New Hope, Alternatives and Charis. The charity is a member of Christians Across Watford and Churches Together in North Watford.

Risk Management

As part of the CIO’s risk management process, the Trustees undertake annual risk assessments in liaison with the relevant key members of staff. The Trustees acknowledge their responsibility for the charity’s system of internal control and for reviewing its effectiveness.

The Trustees, through the executive team have set policies on risk and internal controls, which cover:

The responsibility of management to implement the Trustees’ policies The responsibility of management to implement the procedures/controls approved by the Trustees Consideration of the types of risk that the charity faces Identifying the level of risks which they regard as acceptable

The Trustees are satisfied that the systems in place are sufficient to mitigate exposure to the major risks.

Financial Review

The principle funding of the charity continues to be that of donations from the church congregation; during the year there has been a significant decline in income derived from charitable activities of the church due to restrictions in place as a result of the Covid 19 pandemic, however, the overall level of donations has increased. The total income of the charity was £1,468,222 (2020: £1,503,395). Total charitable expenditure increased from £1,034,924 in the previous year to £1,092,949; this increase was due in part to increased staffing costs associated with staff formerly employed by Soul Survivor Ministries.

The net incoming resources of the charity were £838,182 surplus (2020: £469,058 surplus); the unrealised gain on the revaluation of an investment property (former manse) contributed £462,909 gain which had a significant impact on the closing reserves.

The total funds of the charity at the year end were £4,138,769 (2020: £3,300,587); of these £968,633 were restricted (2020: £1,310,726); £2,968,832 were designated (2020: £1,554,696) and £201,304 unrestricted (2020: £435,165). Further information on the restricted and designated funds can be found in the notes to the accounts.

Reserves

The Trustees have established a policy whereby free reserves held by the charity should be maintained at a minimum of 2 months of the operating budget. At the accounting date free reserves were £201,304. The trustees are satisfied, after obtaining professional advice, that this level of reserves is acceptable.

Objectives

The main objectives of the CIO are for the public benefit:-

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Advancement of the Christian faith in the UK

The CIO is responsible for Soul Survivor Watford; this is a missionary congregation reaching out to people in Watford and the surrounding areas which was founded in 1992. Soul Survivor Watford is part of the Church of England and became a ‘Bishops Mission Order’ within the St Albans Diocese in 2014.

The aim of this congregation is not only to teach the Christian faith and offer opportunities to worship, but also to demonstrate the gospel through serving the local community (further details and activities below).

Alpha courses or similar courses are run on a regular basis, where people are encouraged to come and explore the Christian faith and to ask any questions they may have. Regular courses teaching various aspects of the Christian Faith are run throughout the year and are open to anyone.

Advancement of the Christian faith overseas

Through Soul Survivor Watford people are encouraged to become involved with various projects overseas. A number of opportunities are provided each year for people to participate in projects overseas. Members of Soul Survivor Watford, as well as the CIO, also contribute to the support of a number of missionaries working around the globe.

One of the senior pastors of Soul Survivor Watford, regularly travels internationally to minister in churches. Countries include USA, Canada, Australia, New Zealand, South Africa, Switzerland, Netherlands and Norway. Members of the congregation occasionally attend these trips at their own expense. Travel was restricted by COVID-19 during this financial year.

Relief of persons who are in need

The CIO runs a variety of activities from Soul Survivor Watford to support and encourage those in need in the church family and the local community (more details of these activities below).

The CIO also works with a number of local charities in Watford supporting those facing adversity:

New Hope: A homeless charity supporting those who are homeless in Watford. A number of members of the SSW congregation are directly involved and work with the charity.

Alternatives: A charity which works with teenage mothers. A number of members of SSW work with them and is directly supported by the CIO financially.

The CIO also supports Playskill which is a local charity working with children who have special needs and members of SSW are directly involved. The CIO provides the use of its premises on occasions throughout the year for Playskill to use.

The CIO financially supports Charis, a local charity in Watford which offers support and assistance to anyone in Hertfordshire who is affected by human trafficking or sexual exploitation within the sex industry.

As part of the church’s giving, the congregation is encouraged to donate non-perishable food items and nappies which are given to the Watford Food Bank which is located close to Soul Survivor Watford.

A weekly ‘Connect Café’ is run on a Monday, to provide a place for those who are lonely, facing adversity and need a place to meet other people. Support is given with computer skills and CV writing. Free WIFI is provided as well as a low cost meal for lunch.

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Aims and Objectives for the year

The aims and objectives of 2020/21 continued the ongoing strategy of ‘Growing God’s Family’ which have been the strategic focus for the past 3 years. As part of the charitable objective to advance the Christian faith, Soul Survivor Watford aims to create a church community in which people feel part of the family and feel at home.

The church has continued to grow numerically over the financial year, and therefore a focus for the year has been how to expand the buildings and make best use of the space we currently have to enable continued growth.

Navigating, leading and holding the church together through the COVID-19 pandemic which began in March 2020 was a major priority for the year and became a key focus, as well as continuing to serve the local community through an incredibly difficult season. During this season, as well as navigating the immediate challenges we continued to look ahead and build for the future.

Growing God’s Family

Our vision as a church continued to be Growing God’s Family: Love God / Love One Another / Love God’s World

Soul Survivor Watford Leadership Team

The leadership team of Soul Survivor Watford is as follows: Revd Canon Michael Pilavachi – Senior Pastor Revd Andrew Croft – Senior Pastor Revd Jonathan Stevens – Executive Pastor Ruth Yule – Assistant Pastor* passed away in December 2020 Nicola Rolfe – Assistant Pastor

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Ali Martin – Assistant Pastor * Ben DeGaris – Assistant Pastor – Youth Sam DeGaris – Assistant Pastor – Youth Bethan Barlow – Children’s and Families Pastor Juliet Johnson – Assistant Pastor Tom Smith – Worship Pastor Kathryn Maynard – Operations Manager Andy Symonds – Assistant Pastor James Barlow – Ordinand (Vicar in Training) part - time

The Joint Senior Pastors, Mike Pilavachi and Andy Croft oversee the strategy and vision of the CIO.

Andy Croft, Senior Pastor and Jon Stevens, Executive Pastor oversee the day to day running of the CIO.

The Assistant Pastors are responsible for developing and overseeing the following areas:

There is a team of people helping to co-ordinate activities reaching out to young people in the local area, as well as encouraging those young people who are part of Soul Survivor Watford to learn more about their faith.

There is a team of volunteers within the church who support the running of a number of the activities that the CIO runs.

Significant Activities

Online Worship

As a result of COVID-19 and the national lockdown in March 2020, in-person services stopped until restrictions allowed services to resume. During this time the church moved to online worship. The services were streamed live via YouTube each Sunday for the Soul Survivor Watford congregation, however, it became clear the reach of our online church was being viewed much more widely, with viewing figures of between 5,000 and 10,000 each week. The services were streamed live, initially from people’s homes, and later from the SSW warehouse with worship pre-recorded in a covid-safe environment.

Online worship has now continued, and the 11.30am in-person service is now streamed live each week. The church has invested in new broadcast equipment (audio and visual) to raise the quality of streaming, and is further developing content for the wider church to use through a variety of YouTube channels.

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Restarting In-Person Services

During the year the pastoral team had to adapt and adjust to the ever changing government lockdown and COVID-19 guidance. When restrictions were lifted the pastoral team began to reinstate in-person services in accordance with guidance. The number of services were initially reduced, and gradually increased as more people returned.

Making Room for More

In 2018 we launched our ‘Growing God’s Family’ vision. Part of this vision was to expand our physical buildings in order to make more space as we’d seen double digit growth across our Sunday services.

In March 2018 we had a Vision and Giving Day where the church family amazingly gave and pledged over £1.9m towards the project. As a result of this generosity it enabled the project to move ahead, a project team was formed, architects appointed and plans were developed during the

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

previous financial year. The initial plan was to redevelop the entire No5 Warehouse site including the provision of a ground floor carpark and extend No7 to provide a worship space during the development of No5. COVID-19, however, caused the trustees and staff to pause and review the plans which were in place which would have required significant levels of fund raising and mortgage borrowing. In light of the financial implications of the project, and uncertainty in the economy the project team were tasked to come up with an alternative plan which was more cost effective and did not require the full demolition of No5. As a result, the project has been broken down and the plan is to develop and extend the buildings in phases aiming to maximize the potential use of both warehouses.

Phase 1 – Extension of No7 to create a larger worship and community space and expanded kitchen, The trustees and leadership team took the decision to pause the start date of the project in March 2020. However, it became clear during the year, that whilst the buildings were out of use due to COVID-19 it was a good opportunity to get the extension to Warehouse 7 completed. The plans were put out to tender in the summer of 2020, and the project was awarded to Borras Construction Ltd and works commenced in November 2020 with an expected build time of six months. The project significantly expanded the main worship and community area of No7, creating an expanded café and new entrance for the building. The kitchen was also extended, doubled in size and received a full new fit-out doubling the catering capacity of the kitchen to up to 600 guests. The aim is for the building to be completed in June 2021.

Phase 2 – Plans within the financial year 2021–22 will be to further develop Warehouse 5 property.

Activities related to the advancement of the Christian faith in the UK:

Naturally Supernatural

Due to COVID-19 we cancelled our annual Naturally Supernatural Conference in Feb 2021, but plan to run again in February 2022.

Church Planting & Parish Renewal

Part of the vision of Soul Survivor Watford is to serve the wider church, and look to support parish churches which may close and to plant churches. We have been working with the diocese of St Albans and over the year supported two parishes; St Johns Hatfield and St Peters Watford.

A team has gone from Soul Survivor Watford to join the existing church family with the Revd Andy Gardener in Hatfield. This was to support and encourage what was already happening, but also start something new with the students and young adults and families in the parish. A new 5pm service has been started, as well as growing the morning congregation. Soul Survivor Watford was able to support with resources and team over the year.

The Curate from Soul Survivor Watford, the Revd Vanessa Kerswill became curate in charge at St Peters Watford in whose parish Soul Survivor is situated. SSW supported Vanessa as she began to lead the church, and has encouraged people from SSW to join.

We are excited about the future and how we can serve and support further parishes and church plants going forward.

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Alpha

We ran 2 online Alpha courses during the year. Alpha is a series of sessions exploring the Christian faith, run over ten weeks. Each talk looks at a different question around faith and is designed to create conversation. Alpha provides people an opportunity to ask questions of faith in a relaxed, friendly environment. This took on a different vibe, however it was well attended with about 40 people attending each course

Communication & Training

Our training days and events were postponed during the year. However, we have made more resources available via our YouTube channel and website.

Soul Kids – Sundays

During the year we were unable to provide any in-person children’s groups on Sundays due to the restrictions which were in place. We did however develop online resources and weekly YouTube Soul Kids programmes with activities for families to do together at home.

The Soul Kids team began to record weekly YouTube videos for the children in Soul Survivor Watford which focused on worship, teaching and activities as a way to continue to input into the children in the church whilst in-person services were not possible.

Various Soul Kids and Family Zoom Calls

The children’s team set up a number of online social events on Zoom during the year to create opportunities for families to gather and have some fun. These included a Family Bakeoff and Pizza Making evening.

Soul Kids Online Week of Fun ‘Summer Camp’

The kids team ran an online activity week for kids in the summer during lockdown.

Soul Tots, Energise Family Café & Friday Night Thing

Our ‘Soul Tots’ parent and toddler group as well as the Energise Café for families & Friday Night Thing for kids were paused in 2020/21.

Youth Work

Our new Youth Pastors had the challenge of leading online youth during the year. All the in-person youth activities were stopped during lockdown and the youth team moved the weekly gatherings on to Zoom in order to maintain the relationship and support for the young people in the church. During lockdown more young people began to attend the online gatherings and they were a lifeline for many during this time. When restrictions were eased, in-person, socially distanced evenings were restarted. The youth programme is divided into two groups:

Younger Youth for age 11-13s

This would usually meet during the Sunday mornings services. The youth stay in the main church service for an initial time of corporate worship then move to a separate space for games and teaching together. During the year the youth team ran regular online events for these young people and kept in touch to maintain contact with them.

Older Youth for age 13-18s

This moved to weekly online Tuesday evenings via Zoom. The youth team developed creative ways to engage the young people and over the year the youth grew.

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Connect Groups

‘ The place to Connect with one another and to Connect with God ’ Connect Groups have been a lifeline for many in the Soul Survivor Watford Community this year. When lockdown began all the groups moved to Virtual Connect Groups, with a number of new groups beginning on Zoom to create a place of community for people each week, particularly when Sunday services did not happen. There were approximately 40 groups with over 500 in attendance.

Marriage Preparation Course

This course is open to all couples who are engaged or just thinking about Marriage. The courses continued this year virtually. Couples from inside and outside the church attended the course during the year with an average of 12-15 couples at each course.

Marriage Course

The marriage course is run at points during the year, its purpose is to support and help married couples strengthen their relationship and life together. The course was run virtually this year.

Marriage Coaching

Marriage coaching continues to support married couples in the church and outside to develop and grow in their relationships, improve communication in order to develop the skills and insights needed to build a healthy marriage that lasts a lifetime. This has been a lifeline for many couples where lockdowns have created additional pressure on relationships. These coaching sessions moved online during the year.

Activities related to the advancement of the Christian faith overseas:

Soul Missions

The work of Soul Missions continues with a number of overseas missionaries being supported both financially and through prayer. Prayer requests are communicated via our Facebook Pages and Weekly Update email. In addition to the missionaries we have supported over a number of years, we had a family in the church join an Operation Mobilization (OM) Ship this year.

Our Senior Pastor Mike Pilavachi had to postpone and cancel many of his overseas travelling engagements this year. Instead he has carried out many speaking engagements via zoom this year.

Activities relating to the relief of persons who are in need:

– The Hardship Fund At key points in the year such as Christmas and Easter special offerings are taken for specific initiatives or charities outside of the immediate church community of Soul Survivor. At Easter 2020 our special offerings were taken to set up a ‘Hardship Fund’ for people who were experiencing financial challenges as a result of the COVID-19 pandemic. The fund was made available for people inside and outside Soul Survivor Watford. An application process and criteria were put in place. The majority of grants have gone to individuals and families outside of Soul Survivor and the applications were made on their behalf by members of Soul Survivor. Other offerings were taken during the year to top up the fund. This will continue in to the next financial year.

COVID-19 Volunteers – At the start of the COVID-19 lockdown we instigated a group of volunteers to provide support for those who were vulnerable or clinically vulnerable and needed to shield. The volunteers would carry out practical tasks such as shopping, prescription collection and other jobs which people needed.

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Lockdown Life – Online evenings hosted by Soul Survivor with Dr Kate Middleton a clinical psychologist. These evenings were practical evenings giving techniques and support in how to navigate and tackle isolation during lockdown.

Watford Foodbank – The local foodbank experienced a surge in demand as lockdown began. As a result, we increased our focus on gathering donations and started a weekly Saturday drive by food drop off for church family to donate food which we then transported to the foodbank. Our levels of donations increased significantly and the weekly collections were continued throughout the year.

The Café at No7 – During the summer when some restrictions were lifted and café environments reopened the church ran a socially distanced café as a place for people to meet to combat some of the isolation and loneliness people were experiencing. It was also a positive way for the church family to see others whilst worship services were not happening.

Food Boxes – During the holidays and half-term periods the church made available Food Boxes with fresh ingredients and recipes for families who were in need to make at home. This was particularly focused at some of the families who had attended previous Make Lunch events.

Take-away Lunches – During the half term in February take-away meals were prepared for families to collect each day. This was open to families in need in the community.

Soul Food – During November 2020 every Thursday the staff team cooked a take-away meal for anyone in the church or local community who needed a meal. Over 250 meals were served each week for families who were exhausted after long periods of lockdown, working from home and home-schooling. Many of the people who had meals were friends and neighbours of church members. It was a great way to communicate the gospel in a practical way.

Homemade Christmas – The popular Homemade Christmas events moved online in December and a variety of events were held virtually which church members could invite friends and neighbours to participate in. The purpose of these were to build relationship with people outside SSW and also created fun evenings for people who had experienced challenges during lockdown.

Connect Café – Our weekly Connect Café moved online, and took the format of a Connect Group. Food was provided and delivered to those in need by the team.

Online Prayer Ministry – We had a number of requests from people wanting prayer, particularly when Sunday services were not taking place. We set up a number of weekly slots that could be booked for people to sign-up for. The sessions had two members of the church praying for anyone who signed up virtually.

Gathered to Go Zooms – It became apparent early on during the lockdowns that people were struggling in their employment, particularly NHS workers and teachers. As a result, we held a number of Zoom evenings for various employment sectors. It was an opportunity to hear how people were doing, share with one another the struggles and joys, give some encouragement to people and offer a time of prayer. These were very well attended and were popular. The sectors who came were:

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Grant Making

As part of the objectives of the CIO, in particular to advance the Christian Religion in the United Kingdom or overseas, and the relief of the poor and needy, the trustees on occasion make financial grants to individuals or organizations. There are two key ways in which grants are made. Firstly, on occasions such as Christmas, Easter or Saturday Celebrations, the offerings are given away to causes beyond Soul Survivor Watford. The recipients of such gifts are decided by the executive and pastoral team, and the Trustees approve the decision. Secondly, some grants are made on an ongoing basis. These are primarily to missionaries, or organizations which have objectives in line with that of the CIO. These decisions are proposed by the executive team to the board of Trustees who then make the approval decision. The ongoing nature of these grants are reviewed on an annual basis through the budget process.

Public Benefit

The Trustees are aware of the Charity Commission’s guidance on public benefit in “The advancement of religion for Public Benefit” and have regard to it in their administration of the charity. The Trustees believe that by promoting the Christian faith it provides a benefit to the public by providing facilities for public worship, pastoral care and spiritual development, both for the existing church members and anyone who wishes to benefit from what the charity offers, and also by promoting Christian values, and services by members of the church in and to their communities, to the benefit of individuals and society as a whole.

2020/21 has been an incredibly challenging year, however as we look back, in the midst of the challenges and the pain many people have experienced as a result of COVID-19 we have seen God’s faithfulness and provision which has enabled us to continue to serve our church family and wider community of Watford and the surrounding areas.

Our focus has continued to be on our vision as a church; to Love God, Love One Another and Love the World he has placed us in. We have endeavoured to provide online resources and church to enable people to worship and receive teaching and ministry at home. We have continued to develop ways to create community as best we can via online platforms across all the generations in the church. We have looked for ways to share the Gospel and serve our community of Watford in practical ways. It has been an incredible challenge to pastor a church of over 1000 people, and as a staff team we have been on a steep learning curve as we have navigated uncharted waters. It has been an opportunity to trust God in the midst of great uncertainty.

When lockdown was instigated and in-person services were stopped there was concern regarding the financial impact upon the finances of the church. We have however seen God’s provision and many moving to online giving rather than baskets on Sundays. Giving during the year remained robust.

Our focus over the past few years has been ‘Growing God’s Family’; this is still our vision and call, and as part of that it has been wonderful to see the start of our long awaiting building project begin in readiness for when COVID-19 subsides.

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SOUL SURVIVOR WATFORD

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

We continue to give thanks to God for his provision to us, and the generosity of the church family which enables the mission and outreach of Soul Survivor Watford in new and creative ways, both financially and practically with time.

Disclosure of information to the auditors

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Plans for the Future

As the COVID-19 pandemic continues we will continue to adapt, respond and change in order to meet the ever changing needs of the church family and local community. We are also looking ahead and planning to get ready for when in-person church services and events can restart, and look towards plans to start rebuilding community within the church family.

We are also aware that as a church family part of our call is to resource and equip the wider church both in the UK and overseas. We are going to continue to develop our online YouTube channels, and start to plan conferences and training events for when these can restart. We are also beginning to make plans to start a family of churches called the ‘Soul Survivor Family of Churches’. This will be an informal group of churches who are friends and have shared values of worship, community and ministry in the power of the Holy Spirit. We plan to develop this further in the coming year.

We are committed to church planting and supporting local parishes both in our own diocese and beyond, and will continue to serve St Albans Diocese in any way we can.

As we look back on a very challenging year, we give thanks to God for his continued goodness and kindness to us as we seek to live out the Gospel in Watford. But we also continue to look ahead in the midst of uncertainty with hope.

On behalf of the board of Trustees

……………………… C E Gregory Trustee Dated …………….. 12th May 2022

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SOUL SURVIVOR WATFORD

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees, who are also the directors of Soul Survivor Watford for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law 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 Trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SOUL SURVIVOR WATFORD

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SOUL SURVIVOR WATFORD

Opinion

We have audited the financial statements of Soul Survivor Watford (the ‘Trust’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Trust’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

SOUL SURVIVOR WATFORD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SOUL SURVIVOR WATFORD

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the s tatement of Trustees' r esponsibilities, the Trustees, who are also the directors of the Trust for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .

SOUL SURVIVOR WATFORD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SOUL SURVIVOR WATFORD

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-enq uiring of management as to actual and potential litigation and claims .

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the members and management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

SOUL SURVIVOR WATFORD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SOUL SURVIVOR WATFORD

Use of our report

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicholas Corden ACA (Senior Statutory Auditor) for and on behalf of Summers Morgan

19th May 2022

Chartered Accountants Statutory Auditor

First Floor, Sheraton House Lower Road Chorleywood Hertfordshire WD3 5LH

Summers Morgan is eligible for appointment as auditor of the Trust by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

SOUL SURVIVOR WATFORD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Current financial year
Unrestricted Unrestricted
Restricted
Total
funds
funds
funds
general d esignated
Total 2021
Total 2021
Total 2021
Total 2021
Notes
£
£
£
£
Income and endowments from:
Donations and legacies
1,231,704
-
211,108
1,442,812
Charitable activities
4
22,384
-
-
22,384
Other trading activities
2
-
-
-
-
Investments
3
3,026
-
-
3,026
Other income
5
-
-
-
-
Total income
1,257,114
-
211,108
1,468,222
Expenditure on:
Raising funds
6
97
-
-
97
Charitable activities
7
894,447
-
198,405
1,092,852
Total expenditure
894,544
-
198,405
1,092,949
Net gains/(losses) on investments
12
-
462,909
-
462,909
Net incoming resources before transfers
362,570
462,909
12,703
838,182
Gross transfers between funds
(596,431)
951,227
(354,796)
-
Net (expenditure)/income for the year/
Net movement in funds
(233,861)
1,414,136
(342,093)
838,182
Fund balances at 1 April 2020
435,165
1,554,696
1,310,726
3,300,587
Fund balances at 31 March 2021
201,304
2,968,832
968,633
4,138,769		 Total
2020
£
1,376,413
117,697
4,000
4,683
602
1,503,395
3,413
1,030,924
1,034,337
-
469,058
-
469,058
2,831,529
3,300,587

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

SOUL SURVIVOR WATFORD

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Prior financial year

Unrestricted Unrestricted
Restricted
funds
funds
funds
general d esignated
2020
2020
2020
Notes
£
£
£
Income and endowments from:
Donations and legacies
906,881
-
469,532
Charitable activities
4
117,697
-
-
Other trading activities
2
4,000
-
-
Investments
3
4,683
-
-
Other income
5
602
-
-
Total income
1,033,863
-
469,532
Expenditure on:
Raising funds
6
3,413
-
-
Charitable activities
7
878,317
21,299
131,308
Total expenditure
881,730
21,299
131,308
Net gains/(losses) on investments
12
-
-
-
Net incoming resources before transfers
152,133
(21,299)
338,224
Gross transfers between funds
13,720
204,804
(218,524)
Net (expenditure)/income for the year/
Net movement in funds
165,853
183,505
119,700
Fund balances at 1 April 2019
269,307
1,371,196
1,191,026
Fund balances at 31 March 2020
435,160
1,554,701
1,310,726		 Total
2020
£
1,376,413
117,697
4,000
4,683
602
1,503,395
3,413
1,030,924
1,034,337
-
469,058
-
469,058
2,831,529
3,300,587

SOUL SURVIVOR WATFORD

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

Notes
Cash flows from operating activities
Cash generated from operations
24
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 Total 2021
£
£
495,069
(499,265)
3,026
(496,239)
-
(1,170)
1,743,147
1,741,977		 2020
£
£
438,999
(102,636)
4,683
(97,953)
-
341,046
1,402,101
1,743,147

SOUL SURVIVOR WATFORD

BALANCE SHEET

AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
13
Investment properties
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
18
Unrestricted funds
General designated funds
20
Designated fund revaluation reserve
20
General unrestricted funds		 Total 2021
£
£
1,781,970
615,000
2,396,970
643
39,498
1,741,977
1,782,118
(40,319)
1,741,799
4,138,769
968,633
2,505,925
462,909
201,302
3,170,136
4,138,769		 2020
£
£
1,489,696
-
1,489,696
626
129,628
1,743,147
1,873,401
(62,510)
1,810,891
3,300,587
1,310,726
1,554,696
-
435,165
1,989,861
3,300,587

SOUL SURVIVOR WATFORD

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on ......................... 12th May 2022

.............................. C E Gregory Trustee

Company registration number CE017985

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

Soul Survivor Watford is a Charitable Incorporated Organisation registered charity commission in England and Wales (number 1184088) and with Companies House (number CE017985). The principle address of the charity is 5-7 Greycaine Road, Watford, WD24 7GP.

The K & J M Morgan Trust is an unincorporated Charity registered with the Charity commission in England and Wales (number 287472).

1.1 Accounting convention

The accounts have been prepared in accordance with the Trust's trust deed, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The Trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the Trust . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

a) The C harity's general funds consist of funds which the C harity may use for its purpose at its discretion.

b) The Charity's designated funds are those where the Trustees have set aside funds for a specific purpose. Details of the designated funds are set out in note 20.

c ) The C harity's restricted funds are those where the donor has imposed restrictions on the use of the funds. Details of these funds are given in the Trustees Annual Report and are set out in note 19 .

1.4 Incoming resources

Income from fees is taken into account on an accruals basis. Collections and gifts are taken into account on a cash basis. Donations under gift aid, together with the associated income tax recovery are recognised as income when the donation is received.

Credit is taken for bank interest on an accruals basis.

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure, which includes irrecoverable VAT, is taken into account on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

Governance costs comprise all costs relating to public accountability of the Trust and its compliance with regulation and good practice. These costs include costs relating to the statutory audit.

No salaries are allocated to governance costs as the vast majority of the work is carried out by the Trustees.

Grants are accounted for when paid.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

All of the Trust's fixed assets are used for charitable purposes and are included at cost. Items are only capitalised where the unit purchase price exceeds £500.

Depreciation on fixed assets is calculated at rates estimated to write off the cost over their expected useful lives at the following rates:-

Freehold land and buildings 2% Straight line basis House 2% Straight line basis Furniture, fixtures & equipment - warehouses 10% Straight line basis Fixtures, fittings & equipment 20% Straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Properties transferred from tangible fixed assets are recognised at net book value on date of transfer. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 Stocks

Stock is valued at the lower of cost and net realisable value.

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.11 Employee benefits

The Trust operates a money purchase pension scheme. The contributions due in the year are charged to the Statement of Financial Activities as they fall due.

1.12 Tax Status

Soul Survivor Watford is a registered charity and therefore it is not assessable to income tax on any charitable funds within the scope of Section 505 of the Income and Corporation Taxes Act 1988.

2 Other trading activities

Total 2021 2020
£ £
Income from Cafe and bar - 4,000
Other trading activities - 4,000
Investments
Unrestricted Unrestricted
funds funds
general general
Total 2021 2020
£ £
Rental income 3,000 -
Interest receivable 26 4,683
3,026 4,683

3 Investments

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

4 Charitable activities

Total 2021 2020
£ £
Sales within charitable activities 2,567 16,456
Ancillary trading income 2,578 7,692
Events & other income 17,239 93,549
22,384 117,697
Analysis by fund
Unrestricted funds - general 22,384 117,697
22,384 117,697
Other income
Total Unrestricted
funds
general
Total 2021 2020
£ £
Rental income - 602
Raising funds
Unrestricted Unrestricted
funds funds
general general
Total 2021 2020
£ £
Trading costs
Purchase of bar stock 97 3,413
97 3,413

5 Other income

6 Raising funds

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

7 Charitable activities

The K & J M Soul Total
The K & J M
Morgan Survivor Total 2021
Morgan
Trust Watford Trust
Total 2021 Total 2021 2020
£ £ £
£
Staff costs 436,432 276,498 712,930
612,470
Depreciation and impairment 54,900 - 54,900
25,989
Events & outreach 5,584 3,064 8,648
36,480
Alpha & the noise 60 144 204
2,644
Congregation expenses 9,995 30,444 40,439
28,905
Schools, youth and children 2,221 3,150 5,371
15,578
Refreshments 2,132 3,775 5,907
29,267
Book shop - 50 50
12,575
Office expense & IT 4,858 6,341 11,199
11,411
Telephone 3,973 2,589 6,562
6,656
Travel & courses (197) 2,746 2,549
30,811
Equipment lease and repairs 17,893 - 17,893
8,918
House costs 3,268 992 4,260
1,964
Bank charges & mortgage interest 5,782 4,126 9,908
5,630
Warehouse and building running costs 25,440 27,490 52,930
66,360
572,341 361,409 933,750
895,658
Grant funding of activities (see note 9) 57,641 46,671 104,312
106,197
Share of governance costs (see note 8) 22,002 32,788 54,790
29,069
651,984 440,868 1,092,852
1,030,924
Analysis by fund
Unrestricted funds - general 499,899 394,548 894,447
878,317
Unrestricted funds - designated - - -
21,299
Restricted funds 152,085 46,320 198,405
131,308
651,984 440,868 1,092,852
1,030,924

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

8
Support costs
Support
costs
Governance
costs
Total 2021
£
£
£
Audit fees
-
5,352
5,352
Accountancy
-
11,611
11,611
Legal and professional
-
16,627
16,627
Other professional fees
-
21,200
21,200
-
54,790
54,790
Analysed between
Charitable activities
-
54,790
54,790		 Support
costs
Governance
costs
£
£
-
5,100
-
7,974
-
15,995
-
-
-
29,069
-
29,069		 2020
£
5,100
7,974
15,995
-
29,069
29,069

Governance costs includes payments to the auditors of £5,352 (2020 - £5,100) for audit fees and £11,611 (2020 - £7,974) for other services.

9 Grants payable

The
Grants to institutions (10 grants):
Soul 61
St Albans Diocese
Charis
Soul Action
Hardship Fund
Alternatives
Soul Survivor Ministries
Refugees
South Africa Food Appeal
Soul missions
Other
Grants to individuals		 K & J M
Morgan
Trust
Soul
Survivor
Watford
Combined
Total
The K & J M
Morgan Trust
2021
2021
2021
2020
£
£
£
£
7,000
5,000
12,000
12,000
14,000
10,000
24,000
24,000
3,500
2,500
6,000
8,750
1,400
1,000
2,400
3,125
7,199
7,660
14,859
5,106
2,750
1,250
4,000
6,000
-
-
-
4,915
636
30
665
5,106
14,245
4,904
19,149
4,915
-
5,281
5,281
2,750
-
1,510
1,510
14,272
50,730
39,135
89,865
80,918
6,911
7,536
14,447
25,279
57,641
46,671
104,312
106,197

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

10 Trustees

During the year four Trustees (Revd Michael Pilavachi, Revd Andrew Croft, Revd Jonathan Stevens and Liza Hoeksma) received remuneration for their services as employees of the charity; the trustees received total remuneration of £181,190 (2020 - £nil) and total contributions to personal pension plans' of £10,696 (2020 - £nil).

Trustees of Soul Survivor Watford are permitted under section 7.2.3 of the charity constitution to be employed by the charity.

The Trustees above w ere reimbursed £1,735 for expenses (2020: £55) incurred during their roles as employees of the charity.

*During 2020 although employed by the charity the current trustees were not trustees of the charity.

11 Employees

The average monthly number of employees during the year was:

Total 2021
Number
20
Employment costs
Total 2021
£
Wages and salaries
661,909
Social security costs
52,307
Other pension costs
58,895
773,111
Staff costs capitalised as part of Making Room for More building project
(60,181)
712,930		 2020
Number
24
2020
£
519,549
43,570
49,351
612,470
-
612,470

Pension costs are allocated to activities in proportion to the related staffing costs incurred and to the appropriate fund.

The total paid to key management personnel, including pensions and benefits was £169,376 (2020 - £143,658). The charity recovered £2,567 (2020 - £4,381) of the salary from other partner organisations who utilise the key management personnel in their operations.

There were one employee whose annual remuneration was between £60,000 and £70,000.

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

12 Net gains/(losses) on investments

Unrestricted Total
funds
d esignated
Total 2021 2020
£ £
Revaluation of investment properties 462,909 -
13 Tangible fixed assets
Freehold land Fixtures, Total
and buildings fittings &
equipment
£ £ £
Cost
At 1 April 2020 1,709,649 474,986 2,184,635
Additions 382,792 116,473 499,265
Transfer to investment property (195,000)
-		 (195,000)
At 31 March 2021 1,897,441 591,459 2,488,900
Depreciation and impairment
At 1 April 2020 325,511 369,428 694,939
Depreciation charged in the year 22,019 32,881 54,900
Transfer to investment property (42,909)
-		 (42,909)
At 31 March 2021 304,621 402,309 706,930
Carrying amount
At 31 March 2021 1,592,820 189,150 1,781,970
At 31 March 2020 1,384,138 105,558 1,489,696
14 Investment property
Total 2021
£
Fair value
At 1 April 2020 -
Transfers from owner-occupied property 152,091
Net gains or losses through fair value adjustments 462,909
At 31 March 2021 615,000

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

14 Investment property

(Continued)

Investment property comprises 68 Tudor Avenue in Watford; during the year the manse was no longer needed to house clergy of the charity and the property was rented. The transfer represents the net book value of the property transferred from tangible assets; the historic cost of the property was £195,000.

The fair value of the investment property has been arrived at on the basis of a valuation carried out by Fairfield Estates in May 2021. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Total 2021
£
Freehold
615,000
Long leasehold
-
Short leasehold
-
15
Stocks
Total 2021
£
Finished goods and goods for resale
643
The amount of stock expensed during the year was £97 (2020: £3,413).
16
Debtors
Total 2021
Amounts falling due within one year:
£
Trade debtors
795
Other debtors
29,319
Prepayments and accrued income
9,384
39,498		 2020
£
-
-
-
2020
£
626
2020
£
6,623
85,368
37,637
129,628

17 Creditors: amounts falling due within one year

Total 2021
Notes
£
Deferred income
623
Trade creditors
6,293
Other creditors
4,377
Accruals and deferred income
29,026
40,319		 2020
£
-
1,757
6,469
54,284
62,510

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Specific donations to individuals or
institutions
2015 Building Fund
Durban Halfway House
Making Room for More
Soul61 Salary Bursary		 Balance at
1 April 2019
£
39,057
120,580
18,340
1,013,049
-
1,191,026		 Movement in funds
Incoming
resources
Resources
expended
Transfers
£
£
£
49,041
(28,176)
-
-
(4,690)
(115,890)
-
-
-
219,609
-
(102,634)
200,882
(98,442)
-
469,532
(131,308)
(218,524)		 Balance at
1 April 2020
£
59,922
-
18,340
1,130,024
102,440
1,310,726		 Movement in funds
Incoming
resources
Resources
expended
Transfers
31
£
£
£
66,893
(86,675)
-
-
-
-
-
(6,413)
-
139,283
-
(354,796)
4,932
(105,317)
-
211,108
(198,405)
(354,796)		 Balance at
March 2021
£
40,140
-
11,927
914,511
2,055
968,633

Specific donations to individuals or institutions: During the year the charity receives donations which are restricted to specific people or institutions which are in need. The funds are paid out to the intended recipient.

2015 Building fund: In early 2015 the charity raised funds to facilitate a refurbishment and upgrade of facilities within number 7 Greycaine Road. The charity purchased assets and completed improvements to the building, the funds spent represent depreciation of assets and costs of improvements. Part of the transfer represents the capital element held in restricted funds of the funds already spent on assets in the year being transferred to the fixed asset designated fund. The other part of the transfer represents a correction to expenditure incorrectly allocated from unrestricted funds in previous years.

Durban Halfway House: The charity raised funds to help set up a halfway house for the homeless street children in Durban, South Africa.

Making Room for More: In 2018 the charity raised funds to facilitate an expansion of 5 & 7 Greycaine Road to increase the capacity to allow for an increase in number of people attending services. The charity purchased assets and started planning the renovation work for the rebuild during the year; the transfer represents the capital element held in restricted funds of the funds already spent on assets in the year being transferred to the fixed asset designated fund.

Soul61 Salary Bursary: In September 2019 staff were transferred from Soul Survivor Ministries to K J Morgan Trust due to the dissolution of Soul Survivor Ministries. Funds were donated from Soul Survivor Ministries to meet the cost of the staff transferred for as long as the funds are available.

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

19 Analysis of net assets between funds

Unrestricted
funds
Designated
funds
Restricted
funds
TotalUnrestricted
funds
Designated
funds
Total 2021
Total 2021
Total 2021
Total 2021
2020
2020
£
£
£
£
£
£
Fund balances at 31 March 2021 are represented
by:
Tangible assets
-
1,781,970
-
1,781,970
-
1,489,696
Investment properties
-
615,000
-
615,000
-
-
Current assets/(liabilities)
201,302
571,864
968,633
1,741,799
435,165
65,000
201,302
2,968,834
968,633
4,138,769
435,165
1,554,696		 Restricted
funds
2020
£
-
-
1,310,726
1,310,726		 Total
2020
£
1,489,696
-
1,810,891
3,300,587

Included in the current assets is £1,540,497 (2020 - £1,442,999 ) of cash that is not available for the general use by the Charity because it is restricted or designated.

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

20 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Fixed Asset
Audio Visual
Equipment
for
Livestream
Ministry
Making room
for more
New vision
Property
maintenance
Church plant
fund
Revaluation
reserve		 Balance at
1 April 2019
£
1,371,192
-
-
-
-
-
-
1,371,192		 Resources
expended
£
(21,300)
-
-
-
-
-
-
(21,300)		 Transfers
£
139,804
65,000
-
-
-
-
-
204,804		 Balance at
1 April 2020
£
1,489,696
65,000
-
-
-
-
-
1,554,696		 Movement in funds
Incoming
resources
Transfers
31
£
£
-
444,365
-
(65,000)
-
518,000
-
2,400
-
1,464
-
50,000
462,909
-
462,909
951,229		 Balance at
March 2021
£
1,934,061
-
518,000
2,400
1,464
50,000
462,909
2,968,834

Fixed Asset: Funds represent the net book value of the fixed assets of the Charity. On the 1st of April 2017 the Trust transferred the net book value of the fixed assets (£1,290,602) of the charity from general unrestricted funds to the fixed asset fund. Resources expended in the previous year represent the movement in the net book value of the assets. The transfer represents the capital element held in restricted funds of the funds already spent in the previous year on assets being moved to designated funds. Transfers in the current year represent the movement in the net book value of the assets in relation to both depreciation and additions.

Audio Visual Equipment for Livestream Ministry: The Trust designated £65,000 of unrestricted funds for the purchase of Audio Visual Equipment for their Livestream Ministry last year. The transfer in the current year represents the purchase of the assets which are recognised within the fixed asset fund.

Making Room for More: The Trustees decided to designate general funds towards the planned expansion of the church building. The transfer represents the designation of these funds.

21 Capital commitments Total 2021 2020
£ £
At 31 March 2021 the Trust had capital commitments as follows:
Contracted for but not provided in the financial statements:
Acquisition of property, plant and equipment 524,904 -

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

22 Related party transactions

Aggregated donations received from the Trustees or related parties without conditions totalled £53,594 (2020 - £33,606). There were no balances owing to or from any related party at the balance sheet date (2020 - £nil).

23 Transition to CIO (merger disclosures)

On 31st October 2020 the K & J M Morgan Trust formally (Charity number 287472) transferred all the operations, assets and liabilities to Soul Survivor Watford (Charity number 1184088 ). Soul Survivor Watford was established in order to be the legal entity from which the K & J M Morgan Trust was operated from and so up until this point there was no charitable activity within Soul Survivor Watford.

Analysis of principal SoFA componets for the current reporting period

The K & J M
Soul		 Survivor Combined
Morgan Trust Watford
£ £ £
Total income 857,238 610,984 1,468,222
Total expenditure (652,081) (440,868) (1,092,949)
Net income/(expenditure) 205,157 170,116 375,273
Other gains/(losses) - 462,909 462,909
Net movement in funds 205,157 633,025 838,182
Analysis of net assets at the date of transfer (merger)
Net assets 3,417,229 - (3,417,229)
Represented by:
Unresrticted funds 2,225,265 - 2,225,265
Restricted funds 1,191,964 - 1,191,964
Net movement in funds 3,417,229 - 3,417,229

SOUL SURVIVOR WATFORD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

24
Cash generated from operations
Total 2021
£
Surplus for the year
838,182
Adjustments for:
Investment income recognised in statement of financial activities
(3,026)
Fair value gains and losses on investment properties
(462,909)
Depreciation and impairment of tangible fixed assets
54,900
Movements in working capital:
(Increase) in stocks
(17)
Decrease/(increase) in debtors
90,130
(Decrease)/increase in creditors
(22,814)
Increase in deferred income
623
Cash generated from operations
495,069
25
Analysis of changes in net funds
The Trust had no debt during the year.		 2020
£
469,059
(4,683)
-
25,989
(116)
(65,410)
14,160
-
438,999