| Page | |||||||
|---|---|---|---|---|---|---|---|
| Trustees' | annual report (incorporating |
the | director*s report) | ||||
| independent auditor's |
report to | the members | |||||
| Statement | of finandal | activities | (induding | income and expenditure | account) | ||
| Statement | offinanual | position | |||||
| Statement | ofcash flows | ||||||
| Notes to the Rnandal | statements |
| Reference | Reference | and administrative | and administrative | and administrative | details | |||
|---|---|---|---|---|---|---|---|---|
| Registered | charity | name | First Fruits Gospel Foundation | |||||
| Charity | registration | number | 1184513 | |||||
| Company | registration | number | 12057904 | |||||
| Principal | office and | registered | Third Floor | |||||
| office | 20 Old Badey | |||||||
| Landon | ||||||||
| EC4M 7AN | ||||||||
| United Kingdom |
||||||||
| The trustees | ||||||||
| Mrs R Pillar | ||||||||
| Mr S Pillar | ||||||||
| Mr J Riches | ||||||||
| Auditor | Gibson Booth | |||||||
| Chartered Accountants |
&Statutory | Auditors | ||||||
| New Court | ||||||||
| Abbey Road North | ||||||||
| Shepley | ||||||||
| Huddersfield | ||||||||
| HD8 8BJ |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | ||||||||
| Note | funds f |
Restricted funds |
Total funds f |
Total funds f |
||||
| Income and endowments | ||||||||
| Donations and legacies |
5 | 5,811,600 | 100,000 | 5,911,600 | 129,251 | |||
| Investment income |
6 | 2,662 | 2,662 | 1,531 | ||||
| Total Income | 5,814,262 | 100,000 | 5,914,262 | 130,782 | ||||
| Expenditure | ||||||||
| Expenditure on charitable |
adivitles | 7,8 | (941,512) | (11,000) | (952,512) | (I54,456) | ||
| Total expenditure | (941,512) | (11,000) | (952,512) | (154,456) | ||||
| Net Income/(expenditure) | and net movement | in | ||||||
| funds | 4,872,750 | 89,000 | 4,961,750 | (23,674) | ||||
| Reconciliation offunds |
||||||||
| Total funds brought | forward | 803,330 | 803,330 | 827,004 | ||||
| Total funds carried | forward | 5,676,080 | 89,000 | 5,765,080 | 803,330 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | 6 | 5 | ||
| Fixed assets | ||||
| Investments | 14 | 6,045,279 | 826,650 | |
| Current assets | ||||
| Debtors | 15 | 94,034 | 93,869 | |
| Cash at bank and in hand | 11,407 | 5,361 | ||
| 105,441 | 99,230 | |||
| Creditors: amounts | falling due within one year | 16 | (294,290) | (25,850) |
| Net current liabilities |
(188,849) | 73,380 | ||
| Total assets less current liabilities | 5,856,430 | 900,030 | ||
| Creditors: amounts | falling due after more than one year | 17 | (91,350) | (96,700) |
| Net assets | 5,765,080 | 803,330 | ||
| Funds of the charity | ||||
| Restdcted funds |
89,000 | |||
| Unrestricted funds |
5,676,080 | 803,330 | ||
| Total charity funds | 18 | 5,765,080 | 803,330 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| f | 8 | ||||
| Cash flows from operating | activities | ||||
| Net income/(expenditure) | 4,961,750 | (23,674) | |||
| Adjustments for. |
|||||
| Other interest receivable and similar income Interest payable and similar charges |
(2,662) 'I43 |
(1,531) | |||
| Accrued expenses | 15,440 | 2,260 | |||
| Changes ini |
|||||
| Trade and other debtors Trade and other creditors |
(165) 247,650 |
(93,869) 118,610 |
|||
| Cash generated from operations |
5,222,156 | 1,796 | |||
| Interest paid Interest received |
(143) 2,662 |
1,531 | |||
| Net cash from operating activities |
5,224,675 | 3,327 | |||
| Cash flows from investing | activities | ||||
| Acquisition ofsubsldianes Purchases of other investments |
(1) (5,218,628) |
||||
| Net cash used in investing |
adiviges | (5,218,629) | |||
| Net Increase In cash and Cash snd cash equivalents |
cash equivalents at beginning |
ofyear | 6,046 5,361 |
3,327 2,034 |
|
| Cash and cash equivalents | at end ofyear | 11,407 | 5,361 |
| Unrestricted | Total Funds | ||||
|---|---|---|---|---|---|
| Funds | Restncted | Funds | 2022 | ||
| f | E | E | |||
| Grants | payable | 891,565 | 11,000 | 902,565 | |
| Support | costs | 49,947 | 49,947 | ||
| 941,512 | 11,000 | 952,512 | |||
| Unrestricted | Total Funds | ||||
| Funds | Restncled | Funds | 2021 | ||
| E | E | f | |||
| Grants | payable | 144,178 | 144,178 | ||
| Support | costs | 10,278 | 10,278 | ||
| 154,456 | 154,456 |
| Legs! and | Legs! and | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| professional | fees f |
Bank charges E |
Total 2022 E |
Total 2021 E |
|||||||
| General office |
4,599 | 4,599 | |||||||||
| Governance | costs | 30,805 | 143 | 30,948 | 10,279 | ||||||
| Support costs | —professional | fees | 14,400 | 14,400 | |||||||
| 49,804 | 143 | 49,947 | 10,279 | ||||||||
| 10. | Auditors remuneration |
||||||||||
| 2022 | 2021 | ||||||||||
| f | f | ||||||||||
| Fees payable | for the audit | of the | financial statements | 3,600 | |||||||
| 11. | Independent | examination | fees | ||||||||
| 2022 | 2021 | ||||||||||
| E | |||||||||||
| Fees payable | to the Independent | examiner for: | |||||||||
| Independent | examination | ofthe | financial statements | 1,900 | |||||||
| 12. | Staff costs |
| Investment | Shares | in group | Other | |||
|---|---|---|---|---|---|---|
| propeAies | undertakings | investments | Total | |||
| E | E | E | E | |||
| Cost or | valuation | |||||
| At 1 July | 2021 | 826,650 | 826,650 | |||
| Additions | 5,040,428 | 178,200 | 5,218,629 | |||
| At 30June 2022 | 5,040,428 | 1,004,850 | 6,045,279 | |||
| Impairment | ||||||
| At 1 July | 2021 and 30June 2022 | |||||
| Carrying | amount | |||||
| At 30June 2022 | 5,040,428 | 1,004,850 | 6,045,279 | |||
| At 30June 2021 | 826,650 | 826,650 |
| 15. | Debtors | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| f | f | ||||
| Prepayments | and accrued income | 274 | 109 | ||
| Other debtors | 93,760 | 93,760 | |||
| 94,034 | 93,869 | ||||
| 16. | Creditors: amounts | falling due within one year | |||
| 2022 f |
2021 f |
||||
| Accruals and deferred |
income | 19,380 | 3,940 | ||
| Other creditors | 274,910 | 21,910 | |||
| 294,290 | 25,850 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| E | |||||
| Grant | commitments | at start ofyear | 118,610 | ||
| Grants | and donations | paid during the year | (804,915) | (26,628) | |
| Grant | commitments | made dunng | the year | 902,565 | 145,238 |
| Grant | commitments | recognised | at end ofthe year | 216,260 | 118,610 |
| 2022 | 2021 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| E | E | |||||||||
| Other credaors | 91,350 | 96,700 | ||||||||
| 18. | Analysis | of charitable | funds | |||||||
| Unrestricted | funds | |||||||||
| At | 1 July 2021 | Income f |
Expendaure E |
At | 30June 2022 E |
|||||
| Generalfunds | 803,330 | 5,814,262 | (941,512) | 5,676,080 | ||||||
| At | 1 July 2020 | Income | Expenditure | At 30June 2021 | ||||||
| f. | E | E | ||||||||
| General | funds | 827,004 | 130,782 | (154,456) | 803,330 |
| Restricted | funds | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| At | 1 | July | 2021 f |
Income E |
Expenditure E |
At | 30 | June 2022 E |
||
| Restricted | Funds | 100,000 | (11,000) | 89,000 | ||||||
| At | 1 | July | 2020 f |
Income f |
Expenditure f |
At | 30 | June 2021 f |
||
| Restricted | Funds |
| 19. | Analysis of net | ass | e | ts between funds | ||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | |||||||
| Funds | Restricted | Funds | 2022 | |||||
| f | f | 6 | ||||||
| Investments | 6,045,279 | 6,045,279 | ||||||
| Current assets | 16,441 | 89,000 | 105,441 | |||||
| Creditors less than | 1 | year | (292,940) | (292,940) | ||||
| Creditors greater | than | 1 year | (91,350) | (91,350) | ||||
| Net assets | 5,677,430 | 89,000 | 5,766,430 | |||||
| 20. | Analysis of changes |
ln net debt | ||||||
| At 1 Jul 2021 | Cash flows | At 30Jun 2022 | ||||||
| 0 | 6 | 8 | ||||||
| Cash at bank and | in | hand | 5,361 | 6,046 | 11,407 |