**`**
## **ACCOUNTS FOR THE YEAR ENDED**
## **31 MARCH 2021**
_**(** Registered Charity Number 209606_ _**)**_
**GOSPEL ADVOCATE RELIEF FUND INDEX TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021**
## **Page**
|1|-|3|Trustees' annual report|
|---|---|---|---|
|4|||Independent Examiners’ Report|
|5|||Receipts and Payments Account|
|6|||Detailed Receipts and Payments Account|
|7|||Statement of Assets and Liabilities|
|8|||Notes to the accounts|
**GOSPEL ADVOCATE RELIEF FUND TRUSTEES' ANNUAL REPORT YEAR ENDED 31 MARCH 2021**
The Trustees present their annual report for the year ended 31 March 2021.
The financial statements have been prepared on a receipts and payments basis and have been prepared in accordance with the statement of recommended practice by Charities and in accordance with the governing documents.
The charity was established by rules, dated 1878 (last revised 1995).
Trustees during the year: **Committee Members** Martin Cook _as at March 2021_ David Cottington Hon. Secretary Martin Cook Chris David Hon. Treasurer David Cottington Ken Starnes Chris David Ken Starnes Registered Address: _**Hon. Secretary**_ **Hon. Treasurer** David Cottington Chris David “Crombie” 48 Metcalf Road Standard Hill Close Ashford Ninfield Middlesex Battle TW15 1EZ TN33 9LB **Deputation Speaker** Website www.garf.org.uk Tim Martin **Magazine Distribution & Enquiries** Tim Martin Bankers: CCLA Investment Management Ltd Senator House 85 Queen Victoria Street London EC2V 4ET Santander (Business Banking) Bridle Road Bootle Merseyside L30 4GB
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**GOSPEL ADVOCATE RELIEF FUND TRUSTEES' ANNUAL REPORT CONTINUED YEAR ENDED 31 MARCH 2021**
The Trustees have not received any reimbursements for expenses or remuneration.
During the year there were no changes to trustees, but John Cornwell retired from the committee in December 2020, having served over 50 years.
## **Financial Review**
The Trustees note that during the year a further large legacy has been received (which represents approx. 3 quarters’ grants at the current distribution levels), whilst general income has declined slightly, and interest rates have remained low. Gospel Advocate Magazine subscriptions and expenses both increased slightly. Overall, this resulted in a small deficit of £2,441 in the year leaving cash reserves of £191,313 at 31 March 2021.
## **Principal Activity**
The object of the Gospel Advocate Relief Fund (GARF) is to help needy ministers of the Gospel, their widows and dependants. The Fund was established in 1878 to assist the many gospel preachers in small churches, or carrying out pioneering work, who exist on very meagre salaries. GARF can help some of these by sending financial relief and encouraging them through correspondence and prayer. GARF also supports the widows and dependants of ministers who spent their lives proclaiming the gospel.
The GARF committee meets quarterly to consider grants for both new applicants and existing beneficiaries in accordance with the rules of the society.
GARF has no formal relationships with other charities or organisations, but co-operates with likeminded charities to refer applicants where appropriate, for example, where an applicant does not qualify under our own rules, but may qualify under the rules of another charity.
GARF seeks to raise awareness of its work through its Quarterly Magazine ‘The Gospel Advocate’, by newsletters for churches and supporters, advertisements in the Christian press. The aim of this publicity is both to inform pastors and potential beneficiaries of grants, and to encourage donations in support of the work.
## **Achievements and performance**
During the year GARF has awarded 63 grants to 15 Gospel Advocates and their families, including a new recipient. We were encouraged that 2 former recipients no longer needed support from the fund. These grants have frequently been received at an opportune time, when additional unforeseen expenses have been incurred. “The Gospel Advocate” magazine has maintained a steady number of readers through the year.
## **Reserves Policy**
GARF does not actively seek to hold any reserve funds, but aims to distribute those funds available to ministers, widows and dependants in a manner which is both sustainable to the fund, and which does not create a dependency on the part of the beneficiaries.
## **Investment Policy**
The Trustees have considered that for the present time the most appropriate way of investing surplus funds is to add them to the already existing COIF Charities Deposit Account, along with a deposit with United Trust Bank. This generates a small return on capital at almost no risk.
## **Risk Policy**
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
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## **Public Benefit**
The fund distributes grants to pastors and ministers, their widows and dependents, in accordance with the terms of the fund's governing document. There is an identifiable benefit to the public from this financial support, and all applications are reviewed on their individual merits. There is no geographical restriction on applicants, other than being UK based, or linked to a UK church/charity, so we are able to validate grant eligibility. Applicants from overseas or from specific UK church denominations may be referred to other similar charities where appropriate.
Signed on behalf of the Trustees
Date
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**GOSPEL ADVOCATE RELIEF FUND FOR THE YEAR ENDED 31 MARCH 2021**
## **Independent Examiner's Report to the Trustees of Gospel Advocate Relief Fund**
I report to the charity trustees on my examination of the accounts of Gospel Advocate Relief Fund ('the Charity') for the year ended 31 March 2021, which are set out on pages 5 to 8.
## **Responsibilities and basis of report**
As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- (1) accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
- (2) the accounts do not accord with those records.
- (3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **John Caladine FCCA CTA FCIE**
Caladine Limited Chartered Certified Accountants Chantry House, 22 Upperton Road Eastbourne, BN21 1BF
Date:
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## **GOSPEL ADVOCATE RELIEF FUND RECEIPTS AND PAYMENTS ACCOUNT YEAR ENDED 31 MARCH 2021**
|**Note**
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary Income
Investment Income
**TOTAL INCOMING RESOURCES**
**1.2**
**RESOURCES EXPENDED**
Charitable Activities
Governance Costs
**TOTAL RESOURCES EXPENDED**
**1.3**
**NET MOVEMENT IN CASH FUNDS**
**TOTAL CASH FUNDS BROUGHT FORWARD**
**TOTAL CASH FUNDS CARRIED FORWARD**|**UNRESTRICTED**
**RESTRICTED**
**UNRESTRICTED**
**DESIGNATED**
**INCOME**
**TOTAL**
**YEAR ENDED**
**FUND**
**FUND**
**FUNDS**
**FUNDS**
**31 March 2020**
**£**
**£**
**£**
**£**
**£**
44,478.85
-
-
44,478.85
73,803.99
1,612.53
-
-
1,612.53
1,910.51|
|---|---|
||46,091.38
-
-
46,091.38
75,714.50
48,532.38
-
-
48,532.38
50,111.63
-
-
-
-
-|
||**48,532.38**
**-**
**-**
**48,532.38**
**50,111.63**|
||**(2,441.00)**
**-**
**-**
**(2,441.00)**
**25,602.87**
**193,753.73**
**-**
**-**
**193,753.73**
**168,150.86**|
||**191,312.73**
**-**
**-**
**191,312.73**
**193,753.73**|
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## **GOSPEL ADVOCATE RELIEF FUND DETAILED RECEIPTS AND PAYMENTS ACCOUNT YEAR ENDED 31 MARCH 2021**
|**Notes**
**INCOMING RESOURCES**
**Voluntary Income**
Individual Donations
'Gospel Advocate' Magazine Subscriptions & Donations
Legacy Income
**Investment Income**
Interest Received on Deposits
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Resources Expended on Charitable Activities**
Grants Made
Gospel Advocate Magazine
Ministerial & Deputation Fees
Advertising & Promotion
Postage & Stationery
**Resources Expended on Governance**
Accountancy
**TOTAL RESOURCES EXPENDED**
**Surplus / (Deficit) of income over expenditure**|£
2,393.20
4,098.00
37,987.65
45,075.00
2,943.70
100.00
374.68
39.00
-|£
44,478.85
1,612.53
**46,091.38**
**(48,532.38)**
**(48,532.38)**
**(2,441.00)**
**Year Ended**
**31 March 2021**|£
2,800.00
3,500.00
67,503.99
47,360.00
2,337.13
100.00
314.50
-
-|£
73,803.99
1,910.51
**Year Ended**
**31 March 2020**|
|---|---|---|---|---|
|||||**75,714.50**
**(50,111.63)**
**(50,111.63)**|
|||||**25,602.87**|
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## **GOSPEL ADVOCATE RELIEF FUND STATEMENT OF ASSETS AND LIABILITIES YEAR ENDED 31 MARCH 2021**
|**CURRENT ASSETS**
Bank Current Account
COIF Deposit Account
United Trust Bank Bond
**CURRENT LIABILITIES**
Sundry Creditors & Accruals
Date
____
Signed on behalf of the Trustees|130,997.98
48,510.53
60,314.75
60,243.20
-
85,000.00
191,312.73
193,753.73
720.00
360.00
_______________________________
£
£
**31 March 2020**
**31 March 2021**|
|---|---|
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**GOSPEL ADVOCATE RELIEF FUND NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2021**
## **1 Accounting Policies**
## **1.1 General**
The Financial statements have been prepared on a receipts and payments basis in accordance with Section 133 of the Charities Act 2011.
## **1.2 Income and expenditure**
Donations and income are recognised when received. Income and expenditure are accounted for as received or paid by the Charity. The Financial Statements do not provide for accrued income or expenditure
## **2 Remuneration**
The Trustees have not received any reimbursements of expenses and have not received any remuneration.
## **3 Investment Policy**
The Trustees have considered that for the present time the most appropriate way of investing surplus funds is to add them to the already existing COIF Charities Account, along with a deposit with United Trust Bank. This generates a reasonable return on capital and income at no risk.
## **4 Capital and reserves**
The principal aim of the fund is to provide financial support for pastors and ministers, their widows and dependents.
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