Registered number: 00569234 Charity number: 208870
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Unaudited
Trustees' report and financial statements
For the year ended 30 September 2021
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Income and expenditure account | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 17 |
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Reference and administrative details of the charity, its trustees and advisers For the year ended 30 September 2021
Trustees
D A Smith F De Guzman E L Hansson
Company registered number
00569234
Charity registered number
208870
Registered office
168-170 Salmon Lane, Limehouse, London, E14 7PQ
Company secretary
E L Hansson
Accountants
Kreston Reeves LLP, 2nd Floor, 168 Shoreditch High Street, London, E1 6RA
Bankers
Barclays Bank plc, 159-165 East India Dock Road, London, E14 0EB
CCLA Investment Management Limited, 80 Cheapside, London, EC2V 6Z
Solicitors
Winston & Strawn, City Point, One Ropemaker Street, London, EC2Y 9HU
Page 1
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Trustees' report
For the year ended 30 September 2021
The Trustees present their annual report together with the financial statements for the year ended 30 September 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statuatory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2019).
Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
Objectives and Activities
a. Policies and objectives
The charity's objects are to promote, organise, conduct and carry on charitable work of every description including in particular works of gospel ministration, spiritual guidance and uplift and redemptive work; the help and relief of the poor and destitute of all ages, classes and creeds in East London or elsewhere and the visitation, care and comfort of distressed widows, aged and sick persons and poor, ailing and afflicted children.
The trustees will seek to satisfy themselves that the charity's activities are in furtherance of a charitable purpose that offers an identifiable benefit to the public, or a significant section of the public. The trustees have complied with the duty in S17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
Achievements and performance
a. Review of activities
The work consisting of promoting, organising, conducting and carrying out gospel ministrations, spiritual guidance and uplift and redemptive work among all ages, classes and creeds in the East End and elsewhere continues to be carried out. The work for the year ending September 2021 was carried by several groups using and working out of the mission building in Salmon Lane, E14.
London Baptist Church, A Church of The Book
The congregation, London Baptist Church, A Church of The Book, continued Sunday morning and afternoon worship services during the year as well as the mid-week Bible study sessions on Thursday evenings. Personal Bible studies were also conducted by members of the church at unscheduled times for persons who were unable to attend during the regularly scheduled services or when questions were asked on particular topics. Celebrating the fourth anniversary of weekly services in Bengali at the end of May was a blessing but with a smaller number attending due to Covid. It has been encouraging to see those who recently became more involved in the church using their God-given talents to bless the congregation. A number of individuals were converted during the year and are growing spiritually from the bible teaching. We were blessed to fill the baptismal pool several times, and be able to witness the baptismal candidates from the UK and Iran follow the Lord into the baptismal waters. New visitors of all ages, classes and creeds continue to provide additional opportunities to share in spiritual guidance and uplift. The church services and bible studies were broadcast online during the March through June period of lock-down. It was encouraging to have a large number of new individuals from around the world join at various times.
Homeless Ministry
The ministry to homeless persons was continued on a reduced scale, but is still considered important to maintain. Canned goods and cooked meals were distributed as requested and needed. No one is turned away from our doors hungry. The Coronavirus lock-down had a huge impact on this part of the ministry and we were encouraged that so many who had been homeless were provided with emergency accommodation and other support during this time.
Page 2
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Trustees' report (continued) For the year ended 30 September 2021
Museum of The Book
The educational and spiritual ministry of sharing the Word of God through Museum of The Book has continued with exhibitions being held incorporating scriptures from several faith backgrounds. The museum was open by appointment for groups eager to learn more about the history of the Bible and Christianity. The doors remain open for individuals of all ages, classes, creeds and faiths as well as those that do not claim to have one. This part of the ministry was also affected by the Coronavirus lock-down as the exhibition had to be closed down to visitors. During the lock-down the first online video tour was held and was well attended by people as far away as the United States of America, Bangladesh, Spain and other European countries.
The Philippine Mission
The Mission continued its support of the Baptist Christian Academy of Aritao, Nueva Viscaya in the Philippines. The Academy continues to provide an excellent start in education for young children who might otherwise not have an opportunity to attend a place of learning. This ministry was halted due to the national and local restrictions imposed to combat the Coronavirus pandemic, the school had to close its premises and resort to distance learning which commenced in August rather than June. Distance learning is not very suitable for younger children and this resulted in a much reduced enrollment of only 41 children split between the two campuses in the town (27) and the annex (14) during the academic year ending May 2021.
The Mission wishes to thank all those who prayerfully supported and encouraged the local daily activities in the East End of London as well as its outreach ministries elsewhere around the world.
Your prayers are still coveted for the oversight of the Mission and for encouragement to all who are involved with the ongoing areas of ministry.
Donations policy
Salmon Lane Mission Trustees Limited promotes '...work consisting of promoting, organising, conducting and carrying out gospel ministrations, spiritual guidance and uplift and redemptive work among all ages, classes and creeds in the East End and elsewhere.' Upon application by a perspective applicant and after 'due diligence' Salmon Lane Missions Trustees Limited will consider any Christian charitable cause that promotes or fulfils 'gospel ministrations, spiritual guidance, uplift and redemptive work,' and demonstrates an identifiable benefit to the public or a significant section of the public. The applicant or their project need not be based in the United Kingdom.
b. Investment policy and performance
Under the memorandum and articles the charity has the power to make any investment, which the trustees see fit.
Investments should be made with judgement and care, considering prevailing circumstances. Discretion and intelligence must weigh up speculation, probable safety of capital and possible income to be derived. No investment is free from risk and occasional losses are inevitable. The overall return is most likely to be obtained by diversification. All investments will conform to British law for Charities. Ethical Investments are of the highest importance, avoiding arms, tobacco, alcohol and any other kind of drug trades. Control is to be maintained by protecting against loss and ensuring each transaction is made in writing. Any investment currently held that does not meet the guidelines of this policy shall be exempt from the requirements of this policy. At maturity or liquidation such investment monies that remain shall be reinvested only as provided by this policy. The investment policy will be reviewed annually.
Page 3
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Trustees' report (continued) For the year ended 30 September 2021
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Structure, governance and management
a. Constitution
The Salmon Lane Mission began in 1890 and was registered as a charity on 1 December 1929. The governing documents are a trust deed dated 1 December 1929 and the Memorandum and Articles of Association dated 31 July 1957 as amended 17 March 1996.
b. Directors and trustees
All trustees are also directors of the charitable company and throughout this report and the accompanying financial statements the term trustee refers to a trustee/director of the company. This report represents the directors' report required by S417 of the Companies Act 2006. The trustees acting during the year were:
D A Smith F De Guzman E L Hansson
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees meet on a regular basis. Their appointments are governed by the Articles of Association.
c. Related party relationships
D A Smith and E L Hansson are directors of Baptist Mission to England Inc. a company Incorporated in the United States of America. The objects of the Baptist Mission to England Inc. are to engage in educational, medical, humanitarian and religious work. It also serves as a channel for US expatriates to donate to Salmon Lane Mission Trustees Limited. The Baptist Mission to England Inc. has agreed to continue to support the charity in order for it to meet its liabilities as they fall due.
d. Reserves policy and risk management
The charitable company has a £(165,591) income fund reserve at 30 September 2021 which has been invested in fixed and heritage assets. The charity has net current liabilities of £460,974. The day to day running costs of the charity are met by the trustees and this together with the support of Baptist Mission to England Inc. will ensure that the charity has sufficient resources to meet its liabilities as they fall due. Although heritage assets are held primarily for ministry and educational purposes an element could be sold to generate income to the charity as required. The reserves policy is reviewed annually.
Page 4
Salmon Lane Mlsslon Trustees Llmtted IA company Ilmtted by guarant••l Trustees. rnport Icontlnuedl For the yeir ended 30 September 2021 Trnstees. re8pons1bllle$ statement Th6 Twst8as Iwhts ara also directors of Salmon Lane MIs5ion for tha PUfPtsSaS of company lawl are responsitAe for préparing the Trustees, rewrt 8n¢ the fi'n8nri81 sl8tern8nts in 8CCQfd8nc9 with 8pplic&bla law and United Kingdom Accounting Standards Iunited Kingdom Generally Apted Accountsng PraCtsl. Company law requires the Trustees to prepare finanaal statements for each financial year. Under company law the Trusteos must not approva tha finanaal statemants unless itwy are satisfied that they give a true anoj fair view of th& 5ts1e ol aff8irs of Ihg ch8rilabSe cornpany and ol Ihe iiicofflin9 iesoufces and 8pplitslion of resources, including the Income and expenditure, of the charitable company for that period. In prepariro these fin8neial statements. tha Truste8s arè requirsd to". s•lact suit8blè 8ccounts.ng rolla85 and thèn Apply thèm consistèntly.. observe the methods and principles In the Chants"es SORP., make judgments and accounting estrmates that are reasonable and prudent.. state wh8th81 applicable UK Accounting Slandgrds have been followed. sub)L to ony ffwterial departUS disclosed and explained in tha finanaal statamants, prepare the finanrial ststernents on the going concem basis unles5 it is inappropriate to pMsum8 that thè charitabl8 eomp8ny will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and expl8ln the charitable company's tr8nsaction5 and di5dos8 Wlth reasonable accuracy ai any timè the finanaal position ol the charitaLsla company 8nd 8n8b18 Ih8rn to ensur8 that the fin8nci815t818m8nt5 cornply with thè Companies Act 2(M)6. They are also reSponsie lor safeguarding the assets of Ihe chantable company and Mence for taking reasonable steps for the pVenOn and detection of traud and other irregularits'es. Thls reportwas 8pw)v8d by tha Trust6&$. on 30 Junè 2022 and &gnéd On thèir bèh8W by. E L Hanswn Page 5
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Independent examiner's report
For the year ended 30 September 2021
Independent examiner's report to the Trustees of Salmon Lane Mission Trustees Limited (the 'charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 September 2021.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Responsibilities and basis of report
As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Signed: Dated: 30 June 2022
P D Hudson BA FCA
2nd Floor 168 Shoreditch High Street London E1 6RA
Page 6
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Statement of financial activities For the year ended 30 September 2021
| Unrestricted funds Endowment funds Note 2021 £ 2021 £ Income and endowments from: Donations and legacies 2 28,381 - Other trading activities 634 - Investments 3 22 - Total income and endowments 29,037 - Expenditure on: Charitable activities 5 53,545 - Total expenditure 6 53,545 - Net expenditure before other recognised gains and losses (24,508) - Net movement in funds (24,508) - Reconciliation of funds: Total funds brought forward (141,083) 382 Total funds carried forward (165,591) 382 |
Total funds 2021 £ 28,381 634 22 29,037 53,545 53,545 (24,508) (24,508) (140,701) (165,209) |
Total funds 2020 £ 19,191 - 23 19,214 43,798 43,798 (24,584) (24,584) (116,117) (140,701) |
|---|---|---|
The notes on pages 9 to 17 form part of these financial statements.
Summary income and expenditure account For the year ended 30 September 2021
| Note Gross income in the reporting period Less: Total expenditure Net income for the financial year 14 |
Total funds 2021 £ 29,037 53,545 (24,508) |
Total funds 2020 £ 19,214 43,798 (24,584) |
|---|---|---|
The notes on pages 9 to 17 form part of these financial statements.
Page 7
Salmon Lane Mlsslon Trustees Llmtted IA company limited by guarantttsl Reglstered number.. 00569234 Balane• 8h•ot A$ at JO September 2021 2021 2020 Note Flxed a88ets Tangible assets Hèrit8g 8SS8ts 10 120,$94 176,171 122.564 175.171 296,766 297.735 Curyent assets Debtors Cash at bank and in hand 12 5.466 7,060 5.932 1.356 12,516 7.288 Crditorn'. amounts f8lling du• within on• year 13 1473,49Ql 1445.7241 Net current liablllties 1460,974} 1438,4361 Net Ilabllltlos 1165,2091 1140.7011 Charlty Funds Endowmènt funds 14 382 unstricted funds 14 1166,5911 1141,0831 Total dellclt 116S,2091 1140.7011 Tha charity's finan31 st8t6rnant$ frav8 b86n prèp8r8d in a(rant• wlh thè prowsions applicable to comp8niès suty'ect to the srnall companies regime. The Trustees consider that the chanty is entstled to exemption from Ihe reqU1ment to have an audit un¢Jer the prowsions of section 477 of the Cornpanies Act 201,he Act") and mernber5 have not r8qLirad the chanty to oblain an audit for the year in question in accordance with section 476 ol the Act. Th8 Trustees acknowle¢Jge their respcnsibilities for complying with the requiremgnts ol ¢hg Companies Act 20C6 with resp1 to accounting records and the preparatson of finanal statements. The fin8ntsal 5tAtÈrnents were 8pprov8d 8nd 8Uthorised for i$su8 by Ihe Trust885 on 30 June 2022 and signed on their behalf, by.. E L Hansson The Th)tes on pages 9 10 17 form part of Ihfrse financial stalemenls. Page 8
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2021
1. Accounting policies
1.1 Basis of preparation of financial statements
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 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Salmon Lane Mission Trustees Limited 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.
1.2 Company status
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
1.4 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Page 9
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2021
1. Accounting policies (continued)
1.5 Expenditure
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 allocated on the portion of the asset’s use.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
1.6 Going concern
The trustees have considered the position of the charity in light of the continuing corona virus epidemic and also the continung needs of the community. In conjunction with the Baptist Mission to England Inc. the trustees have confirmed that funds will be forthcoming for the foreseeable future to assist the chairty in its endeavours. Therefore the trustees consider that it is correct to prepare the charity's accounts on the going concern basis.
1.7 Tangible fixed assets and depreciation
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold property | - | Over 30 years at 3.33% and 8 years at 12.5% on a |
|---|---|---|
| straight-line basis | ||
| Motor vehicles | - | Over 3 years at 33.3% on a straight-line basis |
| Fixtures and fittings | - | Over 8 years at 12.5% on a straight-line basis |
1.8 Heritage assets
Heritage assets are comprised of a collection of printed and manuscript bibles and other rare objects which are held in the Museum of The Book. The assets are held in support of the mission's primary objectives and are reported in the balance sheet at cost.
The books are deemed to have indeterminate lives, hence the trustees do not consider it appropriate to charge depreciation. The treatment may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these Heritage assets are not held for consumption and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therfore necessary for the accounts to give a true and fair view.
Page 10
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2021
1. Accounting policies (continued)
1.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
1.12 Pensions
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
1.13 Cashflow exemption
The charity has taken advantage of the disclosure exemption of 'section 7 Statement of Cash Flows' in preparing these financial statements as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
2. Income from donations and legacies
| Unrestricted funds Endowment funds 2021 £ 2021 £ Donations 13,468 - Government grants 14,913 - Total donations and legacies 28,381 - Total 2020 19,191 - |
Total funds 2021 £ 13,468 14,913 28,381 19,191 |
Total funds 2020 £ 8,660 10,531 |
|---|---|---|
| 19,191 | ||
Page 11
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2021
3. Investment income
| Unrestricted funds Endowment funds 2021 £ 2021 £ Interest and dividends receivable 22 - 22 - Total 2020 23 - |
Total funds 2021 £ 22 22 23 |
Total funds 2020 £ 23 |
|---|---|---|
| 23 | ||
| 4. Direct costs Church expenses Wages and salaries National insurance Pension cost Depreciation Total 2020 |
Activities £ 26,530 18,023 (529) 1,011 1,970 47,005 39,935 |
Total 2021 £ 26,530 18,023 (529) 1,011 1,970 47,005 39,935 |
Total 2020 £ 15,676 21,351 102 747 2,059 39,935 |
|---|---|---|---|
5. Governance costs
| Unrestricted funds Endowment funds 2021 £ 2021 £ Accountancy fees 5,560 - Legal and professional fees 980 - Interest payable - - 6,540 - |
Total funds 2021 £ 5,560 980 - 6,540 |
Total funds 2020 £ 3,456 312 95 |
|---|---|---|
| 3,863 |
Page 12
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2021
6. Analysis of Expenditure by expenditure type
| Direct costs Expenditure on governance Total 2020 |
Staff costs Depreciation Other costs 2021 £ 2021 £ 2021 £ 18,505 1,970 26,530 - - 6,540 18,505 1,970 33,070 22,200 2,059 19,539 |
Total 2021 £ 47,005 6,540 53,545 43,798 |
Total 2020 £ 39,935 3,863 43,798 |
|---|---|---|---|
7. Net income/(expenditure)
This is stated after charging:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets: | ||
| - owned by the charity | 1,970 | 2,058 |
During the year, no Trustees received any remuneration (2020 - £NIL). During the year, no Trustees received any benefits in kind (2020 - £NIL).
8. Auditors' remuneration
The Independent Examiner's remuneration amounts to an Independent Examination fee of £2,500 (2020 - - - £2,400).
Page 13
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2021
9. Staff costs
Staff costs were as follows:
| Wages and salaries Social security costs Other pension costs |
2021 £ 18,023 (529) 1,011 18,505 |
2020 £ 21,351 102 747 |
|---|---|---|
| 22,200 |
The average number of persons employed by the charity during the year was as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Administration | 1 | 1 |
No employee received remuneration amounting to more than £60,000 in either year.
10. Tangible fixed assets
| Cost At 1 October 2020 and 30 September 2021 Depreciation At 1 October 2020 Charge for the year At 30 September 2021 Net book value At 30 September 2021 At 30 September 2020 |
Freehold property £ 170,023 52,465 1,344 53,809 116,214 117,558 |
Motor vehicles £ 30,159 30,159 - 30,159 - - |
Fixtures and fittings £ 77,820 72,814 626 73,440 4,380 5,006 |
Total £ 278,002 155,438 1,970 157,408 120,594 122,564 |
|---|---|---|---|---|
11. Charity heritage assets
| Cost At 1 October 2020 and 30 September 2021 At 30 September 2020 |
Books & rare objects £ 175,171 175,171 |
Total £ 175,171 |
|---|---|---|
| 175,171 |
Page 14
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2021
| 12. Debtors Other debtors 13. Creditors: Amounts falling due within one year Other loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income 14. Statement of funds Statement of funds - current year |
2021 £ 5,466 2021 £ 2,190 2,220 - 464,180 4,900 473,490 |
2020 £ 5,932 2020 £ 2,190 - 1,093 434,941 7,500 445,724 |
|---|---|---|
| Unrestricted funds General Funds Endowment funds Endowment Funds Total of funds Statement of funds - prior year General Funds Endowment Funds Total of funds |
Balance at 1 October 2020 £ (141,083) 382 (140,701) Balance at 1 October 2019 £ (116,499) 382 (116,117) |
Income Expenditure £ £ 29,037 (53,545) - - 29,037 (53,545) Income Expenditure £ £ 19,214 (43,798) - - 19,214 (43,798) |
Balance at 30 September 2021 £ (165,591) |
|---|---|---|---|
| 382 | |||
| (165,209) | |||
| Balance at 30 September 2020 £ (141,083) |
|||
| 382 | |||
| (140,701) |
Page 15
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2021
Summary of funds - current year
| General funds Endowment funds Summary of funds - prior year General funds Endowment funds |
Balance at 1 October 2020 £ (141,083) 382 (140,701) Balance at 1 October 2019 £ (116,499) 382 (116,117) |
Income Expenditure £ £ 29,037 (53,545) - - 29,037 (53,545) Income Expenditure £ £ 19,214 (43,798) - - 19,214 (43,798) |
Balance at 30 September 2021 £ (165,591) 382 (165,209) |
|---|---|---|---|
| Balance at 30 September 2020 £ (141,083) 382 (140,701) |
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds Endowment funds 2021 £ 2021 £ Tangible fixed assets 120,594 - Heritage assets 175,171 - Current assets 12,134 382 Creditors due within one year (473,490) - (165,591) 382 |
Total funds 2021 £ 120,594 175,171 12,516 (473,490) (165,209) |
|---|---|
Page 16
Salmon Lane Mission Trustees Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 30 September 2021
15. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Unrestricted funds Endowment funds 2020 £ 2020 £ Tangible fixed assets 122,564 - Heritage assets 175,171 - Current assets 6,906 382 Creditors due within one year (445,724) - (141,083) 382 |
Total funds 2020 £ 122,564 175,171 7,288 (445,724) (140,701) |
|---|---|
16. Pension commitments
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an indepedently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £1,011 (2020 - £747). Contributions totalling £52 (2020 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
17. Related party transactions
D A Smith, a trustee, is owed £4,246 (2020 - £3,879) by the Charity at 30 September 2021. This amount is interest free and is repayable when other creditors have been settled.
E L Hansson, a trustee, is owed £33,147 (2020 - £31,427) by the charity at 30 September 2021. This amount is interest free and is repayable when other creditors have been settled.
D A Smith and E L Hansson are directors of the Baptist Mission in England Inc., an entity which was owed £426,735 (2020 - £399,635) by the charity at 30 September 2021. This amount is interest free and repayable on demand.
It is anticipated that these loans will be made into grants in the future.
Page 17