Seventh-day Adventist Assoclation Limlted Company No.. 89953 Reglstered Charity No IEn8land and Wale51'. 209780 Registered Charity No1Scotlandl: SC041242 REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
Seventh-day Adventist Association Ltd Company Informatlon For tho year 6ndod 31 December 2021 Tru•t••• I Sweeney R Jackson E Osas J Surridg& E Ramharack$lngh S Thomas K Thom88 E Wllliarn8 E Bran ICh8imanl Company S•cr•tsry S Okelo B•nk•r• HSBC, 17 High street, WaNord WD172DS 8ollcltor• Anthony Collln8 LLP, 134 Edmund Stra8t, Blmilnghem BR3 2ES Sydney Mitchell. Chatto¢k Hou88, Shod8y, Sollhull, B90 30N Audltor Moore Klngston Smlth LLP, 4 Vl¢lorfa Square. Sl Alban8, AL13TF R•gl•t•rnd Ollt 8UC Offlca. St8nborouoh Part(, Watford W025 9JZ P890 1
Seventh-day Adventist Association Ltd Trustees, and Directors, Annual Report For the year ended 31 December 2021 The Trustees (who are also directors of the Charlty for the purposes of the Companies Act) submlt thelr annual report and the financial statement of the Seventh-day Adventist Associotion Limited (the Company) for the year ended 31 December 2020. The Trustees confirm that the annual report and financial statement of the company comply with current statutory requlrements, the requirements of the Company's 8overninB document and the provisions of the Statement of Recommended Practice: Accounting and Reportin8 by Charitles preparinÈ their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS1021, the Charities Act 2011 and applicable regulations. Structurei governance and management Con5tltutlon The company is constltuted under a Memorandum of Association dated 24 August 2006 and Is a registered charity (number 2097801. The princlple object of the Company is to provide support for the diffusln8 of 118105 and moral instruction, in accordance with the philosophy of the Seventh-day Advent15t Church. The company acts as Trustee Corporatlon for the various administrative entities and local con8re8atrons of 5eventh-day Adventist, holding title to their land ond buildin85. These assets are shown in the flnancial statements of the relevant entities and so omitted from these financial statements, There have been no changes in the oblectives since the last annual report. Method of Appolntment or Electlon of Dlrectors The Management of the Company is the responsibility of the Directors who are elected annualty by the executlve committee of the Brltish Union Conference of Seventh-day Adventists. Organls4tlonal Structure and Declslon Maklng The Company acts in accorijante with the operating policies of the Brltish Union Conference of Seventh- day Adventists. It is governed by its Board of Directors, whith meets at least four times a year. Related Party Relatlonshlp5 The company ha5 relationship5 Wlth the followin8 constituent bodies of the Seventh-day Adventlst Church in Britain.. British Union Conference of Seventh-day Adventist- its parent body South England Conference of Seventh-day AdventlSt, North England Conference of seVentday AdventlStS Seventh-day Adventist Trust Company Ltd, the subsidiary, acts as executor of the wills of deceased member5 of local congregations of the Seventh-day Adventist Church in Britain. Page 2
Seventh-day Adventist Association Ltd Trustees. and Directors, Annual Report (continued) For the year ended 31 December 2021 Objectives, Artivltle5 and Publ1< Benefft The Tru51ee5 confirm that they have complied with the duty in section 5.17 of the Charltles Art 2011 to have due regard to the Charity Commission's general guidance on public benefit. Policles and obJertlves The objective of the Company Is to support the activities of the parent and its assoclated charities. Actlvltles for achieving oblectlves The Company holds title to the land and bullding owned by the associated charities and administers the puichase and sale of these properties. The Company also administer5 the estates of members of the Seventh-day Adventlst church and disburses legacies falling due to the denomination. Grant Makln8 Pollcles Legacies are granted to a55oclated charities in accordance with the expre55ed wishe5 of the donors, or, If nonspecific, In attordance with the geographical regions in whlch the donors were living. Achlevement and performance Revlew of Actlvltles The Company continued to art 05 the trustee property holdSn8 body for the Seventh-day Adventlst Church In the United Kingdom. In addition to custody of deeds and attending to queries raised, the followin8 contracts were signed.. Purchase of Propertles Former Williams Preyer Centre Edmonton 6 Hounslow 2. Rugby Land Lying on the side of Bow fell, Brownsover 3. Hays wood Retreat INorth Runctonl - PL¢rchase of 22 Acres. Sale of Propertle$ l. Former Hyland House School 2. 11 Cuckoo Hall Lane Edmonton N9 8DH 3. Stoke on Trent Parcel of Land ST4 6HX 4. Stoke on Trent Church buildin8 ST4 6EG Due dlligence on renovatlons/Ccntracts HSBC Loan Tottenham West Green Road North Runcton Final pha5el Completion Tottenham West Green Road- Ongoing London Ghana HSBC Loan Phase 2, Youth Hall/Nursery Fulham Church 259 Lillie Road 7LL Refurbishment Rose cottage- Coniston Hovse Rebuild. Edwnonton Loan Page 3
Seventh-day Adventist Association Ltd Trustees, and Dirertors, Annual Report (continued) For the year ended 31 December 2021 Legal Resolutlons The Subsidiary company succe5sfuify completed the admlnlstration of several estates and deceased members of the Seventh-day Adventist Church. Flnanclal revlew Reserve5 Policy The Directors have considered the level of reserves necessary for continuing operatlons and consider that the minimal amount of reseNes In hand is sufflclent for that purpose. At the year end the Charity had unrestricted reserves of £13,760. Plans for Future Perlods The Company plans to continue Its actlvltles as the trustee property holdin8 body for the Seventh- day Adventlst Church Sn the United Kln8dom for the forthcomlng future. Funds held as custodlan The Company acts as property holding trustee for associated charitles, and acts in accordance wlth the wlshes of these charltle5. Rlsk mltlgatlon The Company's directors have given conslderation to the malor r15k5 to whlch the charlty Is exposed and established systems or procedure5 in order to mana8e those rlsks. Page 4
Seventh-day Adventist Association Ltd Statement of Trustees, Responsibilltles For the year ended 31 December 2021 The tfllstees (who are also directors of Seventh4ay Adventlst Association Limited for the purposes of company lawl are responsible for pparing the Trustees. Report and the flnanclal statement5 in accordance with applicable law and United Kingdom Accountln8 Standards IUnSted Klngdom Generally Accepted Accounting Practice.) includln8 FR5102 Yhe Flnanclal Reportlng Standard applyln8 In the UK and Republic of Ireland. Company law requires the trustees to prepare flnancial statements for each financlal year which 8lve a true and falr vlew of the State of the affairs of the charitable company and of the incoming resources and application of resources, includin8 the income and expendlture, of the charltable company for that period. In preparing these financlal statements. the trustees are required to.. 5ele¢t suitable accountin8 policies and then apply them conslstentlv,. ObSee the methods and princlples in the Charities SORP,. make lud8ements and estimates that are reasonable and prudent: State whether applicable UK Accountin8 Standards have been followed, sublecl to any material departures dlsclosed and explained In the financial statements,. prepare the flnancial statement5 on the going concern ba515 unless It Is Inapproprlate to presume thal the charitable company wlll continue in business. The trustees are responslble for keeping proper accountlng records that dlsc105e wlth reasonable accuracy at any Ilme the financial posltion of the charitable company and enable them to ensure that the flnanclal statements comply wlth the Companles Act 2iJ)6 and the Charltles and Trustee Investment Iscoilandl Act 21J)5 and the Charities Accounts (Scotlandl Re8ulatlons 2CK)6 la5 amended). They are a150 responsible for safeguarding the assets of the charitable company and hence for taklng reasonable steps for the prevention and detection of fraud and other Irre8ularltle5. Approved by the Trustees and Dlrectors of Seventh-day Adventlst Assoclatlon Llmlted and 5i8ned on thelr behalf bv: J Surrldge Date.. 1210912022 Page 5
Independent Auditorfs Report to the Members of Seventh-day Adventist Association Llmlted For the year ended 31 December 2021 Oplnion We have audited the finan¢lal statements of the Sevenlh4ay Adventist Association Limlted I'the tMpanY') for the year ended 31 t)ecember 2021 whi¢h comprise the S181emenl of Financial Activilies. the Balance Sheet and notes lo the flnancial slalemenls. including 8ignificanl accounting policies. The financial reporllng framework that has been applied in thelr preparation is applicable law and United Kingdom Accounting Siandards. including FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland, (United Kingdom Genefally Accepted Accounling Pradlce). In our oimnion the financbal statements.. ' give a true and fair view of the slate of the charitable company's affalrs as al 31 December 2021 and of Ils incoming resources and application of resources. including ils in¢ome and expenditure, for the ye8r then ended., .have been properly preparod in ac¢ordan¢e vthh United Kingdom Generally Attepled Acc4)unling Pracbce.. and .have been prepared in accordance wlth th8 requlremenls of the Companles 2Crt)6. Basi8 for opinion We conducted our audit in accwdance with Intemalional Standards on Auditing {UKI IISAS (UK)) and applicable law. Our responsibilities under those $18ndard5 are furlhef described In the Auditor's Responsibililles for the audit of the lin8nci81 statements $ection of our report. We are independent of the charilable company in aw)rdance with the elhi¢81 Tequiremenls Ihal are relevant lo our audit of the flnancial slalemenls in Ihg UK, includlng the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibililles in accordance with these requiremenls. We believe that the audit evidence we have obtained is 8uffi¢ient and appropriate lo provide a basi8 for our opinlon. Con¢lu8ions rnlallng lo going o)n¢ern In audlling the financlal stalemenl8, we have concluded Ihal the Iru8lea$' use of the golng concern basis of a¢counling in the preparalion of the financial stalemenls is appropriate. Based on the work we have performed, we have not idenllfled any mBlerial uncertainties relating to events or ConditnS that, individually or collectively, may cast significant doubl on the charitable company's ability lo continue as a going concern for a period of al least twelve rnonlhs from when Ihe flnancial slalemenls are aulhorised for issue. Our responsibilities and the rnspon8lbllilies of the truste88 wllh ffj8pe¢l to going concern are de$¢ribèd In the relevant secllons of this report, Other information The olher informatlon compdses the informalion included In the annual rep)rt, other than the financlal Stalernenls and our auditor's reFM)rt Ihereon. The trustees are responsible lor the other inlormalion )nlained wtlhin the annual report. Our opinion on the financial slalemenls does not covef the olh6r Information and, except lo the exlenl otherwise explicitly slaled in our report, we do not express any form of assurance conclusion Ihereon. Our responsibillty 1510 read the other information and, in doing so, consider whether the other irrformalion 15 materially inconsislenl with the financi31 slalemenls or our knowledge obtained in the course of the audit or otherwise appears to be materially mi551ated. If we Idenlify such material inconsistencies or apparent material misslalemenls, we are required lo d818rmine whether there is material misslalemenl in the financial stalemenls themselves. If, based on the work we have performed, we conclude that there 18 a material misstalement of Ihis other inf¢xmalion. we are required lo report that fact. Pa8e 6
Independent Auditorfs Report to the Members of Seventh-day Adventlst Association Limited For the year ended 31 December 2021 We have nothing lo report in this gard. Opinions on other mallers prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. .th¢ Information given in the trustees, annual report for the financial year for whlch the flnancial statements are prepared is consislenl with the fiarla1 stalemenls.. and .the Iruslees, annual rèport have been prepared in accordance with applicable legal requirernenls. Mallers on which we are reqUId lo report by exception In the light of the knowledge and understanding of the company and ils environment obiain8d in the cour8e of the auéil, we have not Id8nlified material misslatemenls in the Iruslee$' annual rep¢)rt. We have nothing lo report in respect of the following mallers where the Companies Act 2006 requlres us lo roport lo you if, in our opinion.. adequate accounting reoords have not been kept, or returns adequale for our audit have not been received from branches not visited by us,. or .Ihe flnancial slalemenls are not in agreement wllh the accounting records and returns,. or •cerlain disclo$ures ol Irusloes, remuneration specifled by law are not made., lorl we have not received 811 the information and explanations we require for our audil.l orl the Iru8lee8 were not 8nlilled lo prepare the financial slalemènls in accordance with the sniall companies regime and lake advantage of the small companies exemption in preparing Ihe Iruslees, annual report and from preparing a strategic report. Responsibllllles of Iruslees As explained more fully in the Iruslees, responsSbililies sialemenl sel out on page 5. the Iruslees {who are also the directors of the charitable company for the Pufposes of company lawl are responslble fcf the preparation of the financial slalemenls and for being salislied that they give a true and fair view, and for such internal control as the Iru51ee$ determine is necessary lo enable the preparation of financial statements that are free from material mlsslalemenl, whether due lo fiaud or error. In preparing the financlal s18lemen15, the Iruslees are responsible for assessing the Gharilable company's ability to continue as a going concern. disdosing, as applicable, mallers related lo going concern and using the going concgrn basis of accounting unless the Iruslees either intend lo Ilquidale the charitable company or lo cease operation$, or have no realSslic allernalive bul lo do so. Auditor's Responsibilities for the audit of the financial 8lalemenl8 Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will always delecl a material misslalemenl when il exists. Misslalemenls can arise from fraud or error and are considered material rf, individually or in aggregat8, they could reasonably be expected lo inflLJence the economi¢ decisions of users taken on the basis of these financlal slalemenls. A$ part of an audrt in accordance with ISAS IUKI we exercise professional ludgemenl and maintain professional scepticism IhroLtgh(MJt the audrt. We 81$0.' .Idenlify and assess the risks of material misslalemenl of the financial slalemenls. whether due lo Iraud or error, design and perforni audit procedures SponS[Ve to those risks, and obtain audit evidence that is sufticienl and apprOprle lo provide a basis for our opinion. The risk of not delecling Page 7
Independent Auditorfs Report to the Members of Seventh-day Adventist Association Llmited For the year ended 31 December 2021 material misstaiemenl resulting from fraud 15 higher than for one resulting from error, as fraud may invdve cdlusion, forgery, intentional omissions. misrepresenlalions, or the override of internal control. .Oblaln an understanding of internal control relevant lo the audit in order lo design audit procedures that are appropriate in the circumstances, bul not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control. .Evaluale the appropriateness of accounting policies used and the reasonableness of a¢counling eslimales and related disclosure5 made by the Iruslees. .Condude on the appropriateness of the trustees. use of the going concern basis of accounting and. based on the audit evidence obtained, whether a material uncertainly exists related lo events or condllions that may cast significant doubt on the charitable company's ability lo continue as a going concern. If we conclude that a material uncertainly exists. we are rèquired lo draw allenlion in our auditor's report lo tho related disclosures in the financial sl8lemenls or, if such disclosures are in8(Jequale, lo modify our opinion. Our conclusions are based on the audil evidence obtained up lo lh8 dale of our auditor's report. However, future events or ¢ondilion5 may cause the ¢hari18ble company lo cease lo conllnue as a going concern. .Evaluate the overall presenlallon. structure and conlenl of the financial stalemenls, including th8 disclosures. and whelhor the financial statements represenl the underfying lrans8clion8 and events in a manner that achieves fair presentation. We communicato with those ¢h3rged with governance regardlng. among other mallers. the planned scope and liming of the audit and significant audil findings, including any slgnificanl defkiencies in Internal control that we identify during our audit. Explanation as lo what exlenl the audit was consldered capable of delecling irregularities, Induding fraud Irregul2rilies, including fraud, are instanc&s of non-compliance wilh laws and regulation8. We design prOdureS in line with our re8ponsibllilies, outlined above, lo ¢Jelecl material misslalemenls In re$cl of irregularities. irlUding fraLJd. The exlenl lo which our procedures are capable of delecllng irregularities, including fraud 1$ dolalled below. The objectives of our audit in respect of fraud, are., lo identify and assess the risks of material misstalemenl of the flnanci81 slalemenls due lo fraud., lo oblaln sufficlenl appropriate audit evidence regarding the assesseii risks of material missl8lemenl due lo fraud, through designing and Implementing appropriate rosponses lo those assessed risks,. and lo respond appropri8lely lo instances of fraud or suspected fraud identified during the audit. However, the prlrnary responsibility for the prevention and detection of fravd rests with both management and those charged with governance of the charitable company. Our approach was as lollows.. .We obtained an underslandlng of the legal and regulatory requirements applicable lo the charitable company and considered that the most significant are Ilhe Companies Act 2006, the Charities Act 2011, the Charity SORP. and UK financial reporting standards as issue(I by the Financial Reporting Councill .We obtained an underslanding of how the charitable company complies with these requirements by discu5s1on5 With managen7enl and those charged with govemance. Page 8
Independent Auditor's Report to the Members of Seventh-day Adventist Associatlon Limlted For the year ended 31 December 2021 .We assessed the risk of material misstalemenl of the financial stalemenls. including the risk of material misstalemenl due lo fraud and how il might oexur, by holding discussions with management and those charged with governance. .We inquired of man8gom8nl and those charged with governance a8 lo any known instances of non ¢ompliance or suspected noll-compliance with laws and regulations. .Basod on this understanding. we designed specifi¢ approprlale 8udil procedures lo identify instances of non-compliance with laws and regulations. This include¢J making enqulries of management and those charged with governan¢e and obtsining additional ¢orroboraliv6 evidence as required. There are inherent limitations in the audit procedures describod above. We are less likeli lo become aware of Instances of non-compliance with laws and regulations th81 are not closely related lo events and transactions reflected in the flnancial statements. Also. the risk of not delecling a material mi531alernenl due lo fraud is higher than the r15k of not delecling one resulting from error, as Iraud may involve deliberate concealment by, for example, forgery or Intentional misrepresenlalion$. or through collusion. Use of our report Thls report is mado solely lo th& ¢hari18ble company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, Our audit work has been undertaken $0 that we might slate lo the company's member8 those mallers we are reoulred lo slate lo them in an auditor's rvwrl drid l¢)r Iiu ullier purposts. Tu Ilie fullest exlenl permlllad by law, we do not aceepl or assume responsibility lo any party other than the charitable company an(J charitable company's member8 as body, for our audit work. for Ihls report, or for the oplnions we have formed. /LLOL IDatel 26.09.2022 Silvia Vlllello (Senior Slalulory Audilorl for and on behalf of Moore King31on Smith LLP, Stalulory Auditor 4 Victoria Square Sl Albans Herts AL1 3TF Page 9
Seventh-day Adventist Association Ltd Statemant of Financial Activities For th• year ended 31 December 2021 Unrestrlcted Fund¥ Restrlct•d Fund8 Total 2021 Total 2020 In¢omo and Expendlturo Not08 Incom• and ondowm•nts from Donations and legacie8 Investment in¢orne Other Total Incomlng Resour¢ 31.000 31.000 141,403 9,347 9,347 9,347 40.347 678 142,084 31,000 Expandltur• on Grants made Others Total Rg•ouro•• Expend•d 31.000 31,000 160,576 18 160,594 31,000 31,005 Not (Outgolng)I In¢omlng Rosourc 9,342 9,342 118,5101 Transfers between funds N•t Movemenl In Funds 9,342 9,342 118,5101 Fund balanGe8 brought forward 4,418 4,418 22,928 Fund bal8n¢es carried forward 13,760 13,760 4,418 There were no recogni88d gains and losses other than those included in the 818lemenl of financial aclwi(188. Page 10
Seventh-day Adventist Association Ltd
Balance Sheet at 31 December 2021
| Notes Fixed Assets Investments 6 Current Assets Debtors 7 Cash at bank and in hand Creditors: Amounts falling due within one year Net Current Assets Net Assets Funds Unrestricted Restricted 8 |
2021 2020 £ £ 100 100 100 100 4,863 2,613 16,966 9,488 21,829 12,101 8,169 8,169 13,660 13,760 13,760 13,760 7,783 7,783 4,318 4,418 4,418 4,418 |
|---|---|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved and authorised for issue by the Board of Trustees on: 12/09/2022 and signed on its behalf by:
J Surridge
Company number 89953
The notes on pages 12 to 14 form part of these accounts.
Page 11
Seventh-day Adventist Association Limited Notes to the Accounts for the year ended 31 December 2021 l. Accountinu Policles Bas1$ of preparatSon The accounts have been prepaied under the historical cost convention, in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Irelantl IFRS 1021. The company is a publi benefit entity for the purposes of FRS 102 and a iegistered charity establlshed as a company limited bv guarantee and therefore has also prepared tts financial statements in accordance with the Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financial Reporting standard applScable in the UK and Republic of Ireland (The FRS 102 Charities SORPI. the Companies Act 2006 and Charities Act 2011. Goln8 Concern The Trustees have also consldered the impact of the Coronavirus and measures taken in the UK. The charity has sufficient cash and reserve5 at the time of approval of these financlal statements. Having made enquirle5, the trustee5 have concluded that there is a reasonable expectation that the charity ha5 adequate resourtes to continue In operational exSstence for at least 12 months from the date of the Independent examlners, report of these financlal statements. The charlty therefore contlnue5 to adopt the going concern basis in preparing Its financial statements. Basls of consolldatlon The financial statements, being the statements of a small entitV* do not consolidate the financial statements of Seventh-day Adventist Trust Company Limited. as permitted by section 415A of the Companies Act 2006. Company status The charity is a company Ilmited by Buarantee. The members of the company are the trustees named on pa8e l. In the event of the charity bein8 wound up, the Ilability in respect of the guarantee Is limited to El per member of the charity. Incomlng resources Voluntary income by way of donatlons and 8ifts to the charltable company is included in full In the statement of flnancial actlvities when received. Intan8ible income Is not Included unless It represent5 800ds or services which would have otherwise been purchased. Legacies are monitored from the time of notification to their final receipt. They are only included in the financlal statements when there Is sufficient evidence that the legacy will be received, and the value can be measured with sufflcient reliabillty. Fund accountlng Restricted funds ire those which are to be used for the specified purpose5 as laid down by the donor. Expenditure which meets these criteria is allocated to the appropriate fund. Unrestricted funds are donations and other income received or 8enerated for the furtherance of the objects of the charitable company without Specified purposes and, therefore. are available as Eeneral Page 12
Seventh-day Adventist Association Limited Notes to the Accounts for the year ended 31 December 2021 Grant-making pollcie5 The trustees allocate grants in accordance with the objects set out in the Memorandum and Artlcles of Association of the charitable company, which are summarised In the Trustees, Annual Report. Resources expended. Staff costs and overhead expenses are allocated to activities on the basis of time spent on those activities. Resources expended are included in the Statement of Financlal Activities on an accrual's basis. Governance c05t5 are those incurred in connection with admlnistration of the charltable company and compliance with constitutlonal and statutory requirements. All costs include value added tax where applicable. Rlsk mltl8atlon The charitable company's dlrectors have 8lven conslderation to the major risks to which the charity Is exposed and have established systems or procedures Sn order to manage those rlsks. Page 13
Seventh4lay Advontist Association Ltd Notès to the Accounts For thg year ended 31 Dgcgmber 2021 Z Donatlons and L•gacle• Unre•tricted Funds R•Jtrfctad Funds Totsl 2021 Tot•1 202Q Legad85 31,rM]o 31,rxio 31,QOO 31.000 141.403 141,403 3. Gr•nt• m•d• Gran16 to Seventh•ay Adventist durfrvJ th• p0d As follo.. Unrntrlct•d Fund• R•Jtrlct•d Fund¥ Totsl 2021 Total 2020 9rfJgh Unlon CoThffjrence Schoo16 Adv8nt15108vdopmant and Agency North England Ccnfer8nce and Churchg South Ewl&rn1 Confer•ncs and Churc5 Other Grant• 8,OJO 36,381 11x1,190 31.ODO 31.CQJ 16.QJO Tol•l Grants 31.000 31.000 160.577 4. Total R••ourcM EXPded Unrn•trlct•d Fund• R•Btrl¢t•d Fund• Tot•1 2021 Totjl 2020 Granls programme Support of b¢01 ¢ongregatlon$ Tot•1 Exp•ndltur• 31,000 31,000 180,577 18 160,595 31.000 31.000 lfyjepvThJI ExBrnln8rf8 unerallOn ll bom• by edi8h Unlon PA•nforence S. Staff CoBtI The 8VW8ge number of employeos during th8 yeBf w80 NIL12020- NIL) No InJ•tw$ r8cdv•d rémunération or exp8n&e5 durlng th8 year 6. Flxéd A•••t IntrnInI• The Inv851menl h8hl by the chad¢abl¢ company ¢on61sts ol a 1W% owi&J 8ub61dLqry compony, Sevenih Oay Ad¥8nllsl Trd&t Company Llmlted ffth Is hekl Bt wst The Sovonth-day Adven1151 Trust Comp8ny Limilad prlndp818dlvlty Is to acl as oxgculrff ol the blllB of mgmber8 of affilktod lotsl congroa803 cf S8venth4ayA(Jvenlsts. Relev8nl finandal infomation regarding the S8venth-d8y A(fvenli8t Trust Comp8ny Ltd18 a8 follows.. Totsl 2021 To¢•1 2020 Tum0¥8r Admlnlslration expw8es Ngt profitrloss after ta¥alon 14,538 18,0841 Aggrtyale ¢apital aTxJ re5eFves 6,416 6,416 Page 14
Soventh-day Adventist Association Ltd Notes to tha Accounts For the year ended 31 December 2021 7. Dobtor• Totsl 2021 Total 2020 Du8 from Bub8idiary undertakir¥J 2.613 4,863 2.613 8. Cr•dltor•: Amount• falllng du• wlthln on• Due lo parent charity Loan from b8nefa¢tor Other Cre(illor8 8.212 6,069 968 8,169 725 7,783 Page 15
Seventh-day Adventist Association Ltd Notes to Ihe Accounts For the year ended 31 December 2021 •.Anwly•l• of fvnd• 8•14rbc• •t MoverrKnt J•nts 1•t Ineomln R•8our¢ TMnAfer Outgolng b•ttn lund• anco at D•c•mb•r3111 2021 ReSidcted funds 31.¢))O 131,0001 Genernl fL)Y8 4.418 9.347 13.760 4.418 40.347 31.005 13.780 10. Tol•l lund• Tothl Fund• Fund• Fundl In¥e4knonts 1Q) 13.e80 13.160 13,860 13.760 11. Conimlllng Party Thè por•¢•ty iu lh8 Bdlish thon Confer•nc• ol Sa4nih-dayAdwJnti¥1s. byvlrtw of ExeryJlive Cornmiiiae's po110 •pp¢inl Ihe dlracior8 of th? compgny. T chaty numbefed 1044071 IJ re9lBI?rgd In England and il has th8 follown9 18gi8iertd offlco 4ddroM.' Sovenih-day AdnI1$1 ChuFch Hvodqu8rtor8. snbo1 P•rk. W*tlord, W025 gJZ. Enqlllnd. Th8 charl1¥8 Pufpose and b"vlll•s Involve dIn@ p•¢pl¢ Inio a pei8w•l r•l•l1onshlpth Jèaus Chrtil. A copyol th•lr IVnI can bo oblalnod from lh• Charty Comm[oOnI w•b81W. Page 16
Seventh-day Adventist Assoclation Limlted Company No.. 89953 Reglstered Charity No IEn8land and Wale51'. 209780 Registered Charity No1Scotlandl: SC041242 REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
Seventh-day Adventist Association Ltd Company Informatlon For tho year 6ndod 31 December 2021 Tru•t••• I Sweeney R Jackson E Osas J Surridg& E Ramharack$lngh S Thomas K Thom88 E Wllliarn8 E Bran ICh8imanl Company S•cr•tsry S Okelo B•nk•r• HSBC, 17 High street, WaNord WD172DS 8ollcltor• Anthony Collln8 LLP, 134 Edmund Stra8t, Blmilnghem BR3 2ES Sydney Mitchell. Chatto¢k Hou88, Shod8y, Sollhull, B90 30N Audltor Moore Klngston Smlth LLP, 4 Vl¢lorfa Square. Sl Alban8, AL13TF R•gl•t•rnd Ollt 8UC Offlca. St8nborouoh Part(, Watford W025 9JZ P890 1
Seventh-day Adventist Association Ltd Trustees, and Directors, Annual Report For the year ended 31 December 2021 The Trustees (who are also directors of the Charlty for the purposes of the Companies Act) submlt thelr annual report and the financial statement of the Seventh-day Adventist Associotion Limited (the Company) for the year ended 31 December 2020. The Trustees confirm that the annual report and financial statement of the company comply with current statutory requlrements, the requirements of the Company's 8overninB document and the provisions of the Statement of Recommended Practice: Accounting and Reportin8 by Charitles preparinÈ their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS1021, the Charities Act 2011 and applicable regulations. Structurei governance and management Con5tltutlon The company is constltuted under a Memorandum of Association dated 24 August 2006 and Is a registered charity (number 2097801. The princlple object of the Company is to provide support for the diffusln8 of 118105 and moral instruction, in accordance with the philosophy of the Seventh-day Advent15t Church. The company acts as Trustee Corporatlon for the various administrative entities and local con8re8atrons of 5eventh-day Adventist, holding title to their land ond buildin85. These assets are shown in the flnancial statements of the relevant entities and so omitted from these financial statements, There have been no changes in the oblectives since the last annual report. Method of Appolntment or Electlon of Dlrectors The Management of the Company is the responsibility of the Directors who are elected annualty by the executlve committee of the Brltish Union Conference of Seventh-day Adventists. Organls4tlonal Structure and Declslon Maklng The Company acts in accorijante with the operating policies of the Brltish Union Conference of Seventh- day Adventists. It is governed by its Board of Directors, whith meets at least four times a year. Related Party Relatlonshlp5 The company ha5 relationship5 Wlth the followin8 constituent bodies of the Seventh-day Adventlst Church in Britain.. British Union Conference of Seventh-day Adventist- its parent body South England Conference of Seventh-day AdventlSt, North England Conference of seVentday AdventlStS Seventh-day Adventist Trust Company Ltd, the subsidiary, acts as executor of the wills of deceased member5 of local congregations of the Seventh-day Adventist Church in Britain. Page 2
Seventh-day Adventist Association Ltd Trustees. and Directors, Annual Report (continued) For the year ended 31 December 2021 Objectives, Artivltle5 and Publ1< Benefft The Tru51ee5 confirm that they have complied with the duty in section 5.17 of the Charltles Art 2011 to have due regard to the Charity Commission's general guidance on public benefit. Policles and obJertlves The objective of the Company Is to support the activities of the parent and its assoclated charities. Actlvltles for achieving oblectlves The Company holds title to the land and bullding owned by the associated charities and administers the puichase and sale of these properties. The Company also administer5 the estates of members of the Seventh-day Adventlst church and disburses legacies falling due to the denomination. Grant Makln8 Pollcles Legacies are granted to a55oclated charities in accordance with the expre55ed wishe5 of the donors, or, If nonspecific, In attordance with the geographical regions in whlch the donors were living. Achlevement and performance Revlew of Actlvltles The Company continued to art 05 the trustee property holdSn8 body for the Seventh-day Adventlst Church In the United Kingdom. In addition to custody of deeds and attending to queries raised, the followin8 contracts were signed.. Purchase of Propertles Former Williams Preyer Centre Edmonton 6 Hounslow 2. Rugby Land Lying on the side of Bow fell, Brownsover 3. Hays wood Retreat INorth Runctonl - PL¢rchase of 22 Acres. Sale of Propertle$ l. Former Hyland House School 2. 11 Cuckoo Hall Lane Edmonton N9 8DH 3. Stoke on Trent Parcel of Land ST4 6HX 4. Stoke on Trent Church buildin8 ST4 6EG Due dlligence on renovatlons/Ccntracts HSBC Loan Tottenham West Green Road North Runcton Final pha5el Completion Tottenham West Green Road- Ongoing London Ghana HSBC Loan Phase 2, Youth Hall/Nursery Fulham Church 259 Lillie Road 7LL Refurbishment Rose cottage- Coniston Hovse Rebuild. Edwnonton Loan Page 3
Seventh-day Adventist Association Ltd Trustees, and Dirertors, Annual Report (continued) For the year ended 31 December 2021 Legal Resolutlons The Subsidiary company succe5sfuify completed the admlnlstration of several estates and deceased members of the Seventh-day Adventist Church. Flnanclal revlew Reserve5 Policy The Directors have considered the level of reserves necessary for continuing operatlons and consider that the minimal amount of reseNes In hand is sufflclent for that purpose. At the year end the Charity had unrestricted reserves of £13,760. Plans for Future Perlods The Company plans to continue Its actlvltles as the trustee property holdin8 body for the Seventh- day Adventlst Church Sn the United Kln8dom for the forthcomlng future. Funds held as custodlan The Company acts as property holding trustee for associated charitles, and acts in accordance wlth the wlshes of these charltle5. Rlsk mltlgatlon The Company's directors have given conslderation to the malor r15k5 to whlch the charlty Is exposed and established systems or procedure5 in order to mana8e those rlsks. Page 4
Seventh-day Adventist Association Ltd Statement of Trustees, Responsibilltles For the year ended 31 December 2021 The tfllstees (who are also directors of Seventh4ay Adventlst Association Limited for the purposes of company lawl are responsible for pparing the Trustees. Report and the flnanclal statement5 in accordance with applicable law and United Kingdom Accountln8 Standards IUnSted Klngdom Generally Accepted Accounting Practice.) includln8 FR5102 Yhe Flnanclal Reportlng Standard applyln8 In the UK and Republic of Ireland. Company law requires the trustees to prepare flnancial statements for each financlal year which 8lve a true and falr vlew of the State of the affairs of the charitable company and of the incoming resources and application of resources, includin8 the income and expendlture, of the charltable company for that period. In preparing these financlal statements. the trustees are required to.. 5ele¢t suitable accountin8 policies and then apply them conslstentlv,. ObSee the methods and princlples in the Charities SORP,. make lud8ements and estimates that are reasonable and prudent: State whether applicable UK Accountin8 Standards have been followed, sublecl to any material departures dlsclosed and explained In the financial statements,. prepare the flnancial statement5 on the going concern ba515 unless It Is Inapproprlate to presume thal the charitable company wlll continue in business. The trustees are responslble for keeping proper accountlng records that dlsc105e wlth reasonable accuracy at any Ilme the financial posltion of the charitable company and enable them to ensure that the flnanclal statements comply wlth the Companles Act 2iJ)6 and the Charltles and Trustee Investment Iscoilandl Act 21J)5 and the Charities Accounts (Scotlandl Re8ulatlons 2CK)6 la5 amended). They are a150 responsible for safeguarding the assets of the charitable company and hence for taklng reasonable steps for the prevention and detection of fraud and other Irre8ularltle5. Approved by the Trustees and Dlrectors of Seventh-day Adventlst Assoclatlon Llmlted and 5i8ned on thelr behalf bv: J Surrldge Date.. 1210912022 Page 5
Independent Auditorfs Report to the Members of Seventh-day Adventist Association Llmlted For the year ended 31 December 2021 Oplnion We have audited the finan¢lal statements of the Sevenlh4ay Adventist Association Limlted I'the tMpanY') for the year ended 31 t)ecember 2021 whi¢h comprise the S181emenl of Financial Activilies. the Balance Sheet and notes lo the flnancial slalemenls. including 8ignificanl accounting policies. The financial reporllng framework that has been applied in thelr preparation is applicable law and United Kingdom Accounting Siandards. including FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland, (United Kingdom Genefally Accepted Accounling Pradlce). In our oimnion the financbal statements.. ' give a true and fair view of the slate of the charitable company's affalrs as al 31 December 2021 and of Ils incoming resources and application of resources. including ils in¢ome and expenditure, for the ye8r then ended., .have been properly preparod in ac¢ordan¢e vthh United Kingdom Generally Attepled Acc4)unling Pracbce.. and .have been prepared in accordance wlth th8 requlremenls of the Companles 2Crt)6. Basi8 for opinion We conducted our audit in accwdance with Intemalional Standards on Auditing {UKI IISAS (UK)) and applicable law. Our responsibilities under those $18ndard5 are furlhef described In the Auditor's Responsibililles for the audit of the lin8nci81 statements $ection of our report. We are independent of the charilable company in aw)rdance with the elhi¢81 Tequiremenls Ihal are relevant lo our audit of the flnancial slalemenls in Ihg UK, includlng the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibililles in accordance with these requiremenls. We believe that the audit evidence we have obtained is 8uffi¢ient and appropriate lo provide a basi8 for our opinlon. Con¢lu8ions rnlallng lo going o)n¢ern In audlling the financlal stalemenl8, we have concluded Ihal the Iru8lea$' use of the golng concern basis of a¢counling in the preparalion of the financial stalemenls is appropriate. Based on the work we have performed, we have not idenllfled any mBlerial uncertainties relating to events or ConditnS that, individually or collectively, may cast significant doubl on the charitable company's ability lo continue as a going concern for a period of al least twelve rnonlhs from when Ihe flnancial slalemenls are aulhorised for issue. Our responsibilities and the rnspon8lbllilies of the truste88 wllh ffj8pe¢l to going concern are de$¢ribèd In the relevant secllons of this report, Other information The olher informatlon compdses the informalion included In the annual rep)rt, other than the financlal Stalernenls and our auditor's reFM)rt Ihereon. The trustees are responsible lor the other inlormalion )nlained wtlhin the annual report. Our opinion on the financial slalemenls does not covef the olh6r Information and, except lo the exlenl otherwise explicitly slaled in our report, we do not express any form of assurance conclusion Ihereon. Our responsibillty 1510 read the other information and, in doing so, consider whether the other irrformalion 15 materially inconsislenl with the financi31 slalemenls or our knowledge obtained in the course of the audit or otherwise appears to be materially mi551ated. If we Idenlify such material inconsistencies or apparent material misslalemenls, we are required lo d818rmine whether there is material misslalemenl in the financial stalemenls themselves. If, based on the work we have performed, we conclude that there 18 a material misstalement of Ihis other inf¢xmalion. we are required lo report that fact. Pa8e 6
Independent Auditorfs Report to the Members of Seventh-day Adventlst Association Limited For the year ended 31 December 2021 We have nothing lo report in this gard. Opinions on other mallers prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. .th¢ Information given in the trustees, annual report for the financial year for whlch the flnancial statements are prepared is consislenl with the fiarla1 stalemenls.. and .the Iruslees, annual rèport have been prepared in accordance with applicable legal requirernenls. Mallers on which we are reqUId lo report by exception In the light of the knowledge and understanding of the company and ils environment obiain8d in the cour8e of the auéil, we have not Id8nlified material misslatemenls in the Iruslee$' annual rep¢)rt. We have nothing lo report in respect of the following mallers where the Companies Act 2006 requlres us lo roport lo you if, in our opinion.. adequate accounting reoords have not been kept, or returns adequale for our audit have not been received from branches not visited by us,. or .Ihe flnancial slalemenls are not in agreement wllh the accounting records and returns,. or •cerlain disclo$ures ol Irusloes, remuneration specifled by law are not made., lorl we have not received 811 the information and explanations we require for our audil.l orl the Iru8lee8 were not 8nlilled lo prepare the financial slalemènls in accordance with the sniall companies regime and lake advantage of the small companies exemption in preparing Ihe Iruslees, annual report and from preparing a strategic report. Responsibllllles of Iruslees As explained more fully in the Iruslees, responsSbililies sialemenl sel out on page 5. the Iruslees {who are also the directors of the charitable company for the Pufposes of company lawl are responslble fcf the preparation of the financial slalemenls and for being salislied that they give a true and fair view, and for such internal control as the Iru51ee$ determine is necessary lo enable the preparation of financial statements that are free from material mlsslalemenl, whether due lo fiaud or error. In preparing the financlal s18lemen15, the Iruslees are responsible for assessing the Gharilable company's ability to continue as a going concern. disdosing, as applicable, mallers related lo going concern and using the going concgrn basis of accounting unless the Iruslees either intend lo Ilquidale the charitable company or lo cease operation$, or have no realSslic allernalive bul lo do so. Auditor's Responsibilities for the audit of the financial 8lalemenl8 Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will always delecl a material misslalemenl when il exists. Misslalemenls can arise from fraud or error and are considered material rf, individually or in aggregat8, they could reasonably be expected lo inflLJence the economi¢ decisions of users taken on the basis of these financlal slalemenls. A$ part of an audrt in accordance with ISAS IUKI we exercise professional ludgemenl and maintain professional scepticism IhroLtgh(MJt the audrt. We 81$0.' .Idenlify and assess the risks of material misslalemenl of the financial slalemenls. whether due lo Iraud or error, design and perforni audit procedures SponS[Ve to those risks, and obtain audit evidence that is sufticienl and apprOprle lo provide a basis for our opinion. The risk of not delecling Page 7
Independent Auditorfs Report to the Members of Seventh-day Adventist Association Llmited For the year ended 31 December 2021 material misstaiemenl resulting from fraud 15 higher than for one resulting from error, as fraud may invdve cdlusion, forgery, intentional omissions. misrepresenlalions, or the override of internal control. .Oblaln an understanding of internal control relevant lo the audit in order lo design audit procedures that are appropriate in the circumstances, bul not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control. .Evaluale the appropriateness of accounting policies used and the reasonableness of a¢counling eslimales and related disclosure5 made by the Iruslees. .Condude on the appropriateness of the trustees. use of the going concern basis of accounting and. based on the audit evidence obtained, whether a material uncertainly exists related lo events or condllions that may cast significant doubt on the charitable company's ability lo continue as a going concern. If we conclude that a material uncertainly exists. we are rèquired lo draw allenlion in our auditor's report lo tho related disclosures in the financial sl8lemenls or, if such disclosures are in8(Jequale, lo modify our opinion. Our conclusions are based on the audil evidence obtained up lo lh8 dale of our auditor's report. However, future events or ¢ondilion5 may cause the ¢hari18ble company lo cease lo conllnue as a going concern. .Evaluate the overall presenlallon. structure and conlenl of the financial stalemenls, including th8 disclosures. and whelhor the financial statements represenl the underfying lrans8clion8 and events in a manner that achieves fair presentation. We communicato with those ¢h3rged with governance regardlng. among other mallers. the planned scope and liming of the audit and significant audil findings, including any slgnificanl defkiencies in Internal control that we identify during our audit. Explanation as lo what exlenl the audit was consldered capable of delecling irregularities, Induding fraud Irregul2rilies, including fraud, are instanc&s of non-compliance wilh laws and regulation8. We design prOdureS in line with our re8ponsibllilies, outlined above, lo ¢Jelecl material misslalemenls In re$cl of irregularities. irlUding fraLJd. The exlenl lo which our procedures are capable of delecllng irregularities, including fraud 1$ dolalled below. The objectives of our audit in respect of fraud, are., lo identify and assess the risks of material misstalemenl of the flnanci81 slalemenls due lo fraud., lo oblaln sufficlenl appropriate audit evidence regarding the assesseii risks of material missl8lemenl due lo fraud, through designing and Implementing appropriate rosponses lo those assessed risks,. and lo respond appropri8lely lo instances of fraud or suspected fraud identified during the audit. However, the prlrnary responsibility for the prevention and detection of fravd rests with both management and those charged with governance of the charitable company. Our approach was as lollows.. .We obtained an underslandlng of the legal and regulatory requirements applicable lo the charitable company and considered that the most significant are Ilhe Companies Act 2006, the Charities Act 2011, the Charity SORP. and UK financial reporting standards as issue(I by the Financial Reporting Councill .We obtained an underslanding of how the charitable company complies with these requirements by discu5s1on5 With managen7enl and those charged with govemance. Page 8
Independent Auditor's Report to the Members of Seventh-day Adventist Associatlon Limlted For the year ended 31 December 2021 .We assessed the risk of material misstalemenl of the financial stalemenls. including the risk of material misstalemenl due lo fraud and how il might oexur, by holding discussions with management and those charged with governance. .We inquired of man8gom8nl and those charged with governance a8 lo any known instances of non ¢ompliance or suspected noll-compliance with laws and regulations. .Basod on this understanding. we designed specifi¢ approprlale 8udil procedures lo identify instances of non-compliance with laws and regulations. This include¢J making enqulries of management and those charged with governan¢e and obtsining additional ¢orroboraliv6 evidence as required. There are inherent limitations in the audit procedures describod above. We are less likeli lo become aware of Instances of non-compliance with laws and regulations th81 are not closely related lo events and transactions reflected in the flnancial statements. Also. the risk of not delecling a material mi531alernenl due lo fraud is higher than the r15k of not delecling one resulting from error, as Iraud may involve deliberate concealment by, for example, forgery or Intentional misrepresenlalion$. or through collusion. Use of our report Thls report is mado solely lo th& ¢hari18ble company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, Our audit work has been undertaken $0 that we might slate lo the company's member8 those mallers we are reoulred lo slate lo them in an auditor's rvwrl drid l¢)r Iiu ullier purposts. Tu Ilie fullest exlenl permlllad by law, we do not aceepl or assume responsibility lo any party other than the charitable company an(J charitable company's member8 as body, for our audit work. for Ihls report, or for the oplnions we have formed. /LLOL IDatel 26.09.2022 Silvia Vlllello (Senior Slalulory Audilorl for and on behalf of Moore King31on Smith LLP, Stalulory Auditor 4 Victoria Square Sl Albans Herts AL1 3TF Page 9
Seventh-day Adventist Association Ltd Statemant of Financial Activities For th• year ended 31 December 2021 Unrestrlcted Fund¥ Restrlct•d Fund8 Total 2021 Total 2020 In¢omo and Expendlturo Not08 Incom• and ondowm•nts from Donations and legacie8 Investment in¢orne Other Total Incomlng Resour¢ 31.000 31.000 141,403 9,347 9,347 9,347 40.347 678 142,084 31,000 Expandltur• on Grants made Others Total Rg•ouro•• Expend•d 31.000 31,000 160,576 18 160,594 31,000 31,005 Not (Outgolng)I In¢omlng Rosourc 9,342 9,342 118,5101 Transfers between funds N•t Movemenl In Funds 9,342 9,342 118,5101 Fund balanGe8 brought forward 4,418 4,418 22,928 Fund bal8n¢es carried forward 13,760 13,760 4,418 There were no recogni88d gains and losses other than those included in the 818lemenl of financial aclwi(188. Page 10
Seventh-day Adventist Association Ltd
Balance Sheet at 31 December 2021
| Notes Fixed Assets Investments 6 Current Assets Debtors 7 Cash at bank and in hand Creditors: Amounts falling due within one year Net Current Assets Net Assets Funds Unrestricted Restricted 8 |
2021 2020 £ £ 100 100 100 100 4,863 2,613 16,966 9,488 21,829 12,101 8,169 8,169 13,660 13,760 13,760 13,760 7,783 7,783 4,318 4,418 4,418 4,418 |
|---|---|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved and authorised for issue by the Board of Trustees on: 12/09/2022 and signed on its behalf by:
J Surridge
Company number 89953
The notes on pages 12 to 14 form part of these accounts.
Page 11
Seventh-day Adventist Association Limited Notes to the Accounts for the year ended 31 December 2021 l. Accountinu Policles Bas1$ of preparatSon The accounts have been prepaied under the historical cost convention, in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Irelantl IFRS 1021. The company is a publi benefit entity for the purposes of FRS 102 and a iegistered charity establlshed as a company limited bv guarantee and therefore has also prepared tts financial statements in accordance with the Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financial Reporting standard applScable in the UK and Republic of Ireland (The FRS 102 Charities SORPI. the Companies Act 2006 and Charities Act 2011. Goln8 Concern The Trustees have also consldered the impact of the Coronavirus and measures taken in the UK. The charity has sufficient cash and reserve5 at the time of approval of these financlal statements. Having made enquirle5, the trustee5 have concluded that there is a reasonable expectation that the charity ha5 adequate resourtes to continue In operational exSstence for at least 12 months from the date of the Independent examlners, report of these financlal statements. The charlty therefore contlnue5 to adopt the going concern basis in preparing Its financial statements. Basls of consolldatlon The financial statements, being the statements of a small entitV* do not consolidate the financial statements of Seventh-day Adventist Trust Company Limited. as permitted by section 415A of the Companies Act 2006. Company status The charity is a company Ilmited by Buarantee. The members of the company are the trustees named on pa8e l. In the event of the charity bein8 wound up, the Ilability in respect of the guarantee Is limited to El per member of the charity. Incomlng resources Voluntary income by way of donatlons and 8ifts to the charltable company is included in full In the statement of flnancial actlvities when received. Intan8ible income Is not Included unless It represent5 800ds or services which would have otherwise been purchased. Legacies are monitored from the time of notification to their final receipt. They are only included in the financlal statements when there Is sufficient evidence that the legacy will be received, and the value can be measured with sufflcient reliabillty. Fund accountlng Restricted funds ire those which are to be used for the specified purpose5 as laid down by the donor. Expenditure which meets these criteria is allocated to the appropriate fund. Unrestricted funds are donations and other income received or 8enerated for the furtherance of the objects of the charitable company without Specified purposes and, therefore. are available as Eeneral Page 12
Seventh-day Adventist Association Limited Notes to the Accounts for the year ended 31 December 2021 Grant-making pollcie5 The trustees allocate grants in accordance with the objects set out in the Memorandum and Artlcles of Association of the charitable company, which are summarised In the Trustees, Annual Report. Resources expended. Staff costs and overhead expenses are allocated to activities on the basis of time spent on those activities. Resources expended are included in the Statement of Financlal Activities on an accrual's basis. Governance c05t5 are those incurred in connection with admlnistration of the charltable company and compliance with constitutlonal and statutory requirements. All costs include value added tax where applicable. Rlsk mltl8atlon The charitable company's dlrectors have 8lven conslderation to the major risks to which the charity Is exposed and have established systems or procedures Sn order to manage those rlsks. Page 13
Seventh4lay Advontist Association Ltd Notès to the Accounts For thg year ended 31 Dgcgmber 2021 Z Donatlons and L•gacle• Unre•tricted Funds R•Jtrfctad Funds Totsl 2021 Tot•1 202Q Legad85 31,rM]o 31,rxio 31,QOO 31.000 141.403 141,403 3. Gr•nt• m•d• Gran16 to Seventh•ay Adventist durfrvJ th• p0d As follo.. Unrntrlct•d Fund• R•Jtrlct•d Fund¥ Totsl 2021 Total 2020 9rfJgh Unlon CoThffjrence Schoo16 Adv8nt15108vdopmant and Agency North England Ccnfer8nce and Churchg South Ewl&rn1 Confer•ncs and Churc5 Other Grant• 8,OJO 36,381 11x1,190 31.ODO 31.CQJ 16.QJO Tol•l Grants 31.000 31.000 160.577 4. Total R••ourcM EXPded Unrn•trlct•d Fund• R•Btrl¢t•d Fund• Tot•1 2021 Totjl 2020 Granls programme Support of b¢01 ¢ongregatlon$ Tot•1 Exp•ndltur• 31,000 31,000 180,577 18 160,595 31.000 31.000 lfyjepvThJI ExBrnln8rf8 unerallOn ll bom• by edi8h Unlon PA•nforence S. Staff CoBtI The 8VW8ge number of employeos during th8 yeBf w80 NIL12020- NIL) No InJ•tw$ r8cdv•d rémunération or exp8n&e5 durlng th8 year 6. Flxéd A•••t IntrnInI• The Inv851menl h8hl by the chad¢abl¢ company ¢on61sts ol a 1W% owi&J 8ub61dLqry compony, Sevenih Oay Ad¥8nllsl Trd&t Company Llmlted ffth Is hekl Bt wst The Sovonth-day Adven1151 Trust Comp8ny Limilad prlndp818dlvlty Is to acl as oxgculrff ol the blllB of mgmber8 of affilktod lotsl congroa803 cf S8venth4ayA(Jvenlsts. Relev8nl finandal infomation regarding the S8venth-d8y A(fvenli8t Trust Comp8ny Ltd18 a8 follows.. Totsl 2021 To¢•1 2020 Tum0¥8r Admlnlslration expw8es Ngt profitrloss after ta¥alon 14,538 18,0841 Aggrtyale ¢apital aTxJ re5eFves 6,416 6,416 Page 14
Soventh-day Adventist Association Ltd Notes to tha Accounts For the year ended 31 December 2021 7. Dobtor• Totsl 2021 Total 2020 Du8 from Bub8idiary undertakir¥J 2.613 4,863 2.613 8. Cr•dltor•: Amount• falllng du• wlthln on• Due lo parent charity Loan from b8nefa¢tor Other Cre(illor8 8.212 6,069 968 8,169 725 7,783 Page 15
Seventh-day Adventist Association Ltd Notes to Ihe Accounts For the year ended 31 December 2021 •.Anwly•l• of fvnd• 8•14rbc• •t MoverrKnt J•nts 1•t Ineomln R•8our¢ TMnAfer Outgolng b•ttn lund• anco at D•c•mb•r3111 2021 ReSidcted funds 31.¢))O 131,0001 Genernl fL)Y8 4.418 9.347 13.760 4.418 40.347 31.005 13.780 10. Tol•l lund• Tothl Fund• Fund• Fundl In¥e4knonts 1Q) 13.e80 13.160 13,860 13.760 11. Conimlllng Party Thè por•¢•ty iu lh8 Bdlish thon Confer•nc• ol Sa4nih-dayAdwJnti¥1s. byvlrtw of ExeryJlive Cornmiiiae's po110 •pp¢inl Ihe dlracior8 of th? compgny. T chaty numbefed 1044071 IJ re9lBI?rgd In England and il has th8 follown9 18gi8iertd offlco 4ddroM.' Sovenih-day AdnI1$1 ChuFch Hvodqu8rtor8. snbo1 P•rk. W*tlord, W025 gJZ. Enqlllnd. Th8 charl1¥8 Pufpose and b"vlll•s Involve dIn@ p•¢pl¢ Inio a pei8w•l r•l•l1onshlpth Jèaus Chrtil. A copyol th•lr IVnI can bo oblalnod from lh• Charty Comm[oOnI w•b81W. Page 16
Seventh-day Adventist Assoclation Limlted Company No.. 89953 Reglstered Charity No IEn8land and Wale51'. 209780 Registered Charity No1Scotlandl: SC041242 REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
Seventh-day Adventist Association Ltd Company Informatlon For tho year 6ndod 31 December 2021 Tru•t••• I Sweeney R Jackson E Osas J Surridg& E Ramharack$lngh S Thomas K Thom88 E Wllliarn8 E Bran ICh8imanl Company S•cr•tsry S Okelo B•nk•r• HSBC, 17 High street, WaNord WD172DS 8ollcltor• Anthony Collln8 LLP, 134 Edmund Stra8t, Blmilnghem BR3 2ES Sydney Mitchell. Chatto¢k Hou88, Shod8y, Sollhull, B90 30N Audltor Moore Klngston Smlth LLP, 4 Vl¢lorfa Square. Sl Alban8, AL13TF R•gl•t•rnd Ollt 8UC Offlca. St8nborouoh Part(, Watford W025 9JZ P890 1
Seventh-day Adventist Association Ltd Trustees, and Directors, Annual Report For the year ended 31 December 2021 The Trustees (who are also directors of the Charlty for the purposes of the Companies Act) submlt thelr annual report and the financial statement of the Seventh-day Adventist Associotion Limited (the Company) for the year ended 31 December 2020. The Trustees confirm that the annual report and financial statement of the company comply with current statutory requlrements, the requirements of the Company's 8overninB document and the provisions of the Statement of Recommended Practice: Accounting and Reportin8 by Charitles preparinÈ their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS1021, the Charities Act 2011 and applicable regulations. Structurei governance and management Con5tltutlon The company is constltuted under a Memorandum of Association dated 24 August 2006 and Is a registered charity (number 2097801. The princlple object of the Company is to provide support for the diffusln8 of 118105 and moral instruction, in accordance with the philosophy of the Seventh-day Advent15t Church. The company acts as Trustee Corporatlon for the various administrative entities and local con8re8atrons of 5eventh-day Adventist, holding title to their land ond buildin85. These assets are shown in the flnancial statements of the relevant entities and so omitted from these financial statements, There have been no changes in the oblectives since the last annual report. Method of Appolntment or Electlon of Dlrectors The Management of the Company is the responsibility of the Directors who are elected annualty by the executlve committee of the Brltish Union Conference of Seventh-day Adventists. Organls4tlonal Structure and Declslon Maklng The Company acts in accorijante with the operating policies of the Brltish Union Conference of Seventh- day Adventists. It is governed by its Board of Directors, whith meets at least four times a year. Related Party Relatlonshlp5 The company ha5 relationship5 Wlth the followin8 constituent bodies of the Seventh-day Adventlst Church in Britain.. British Union Conference of Seventh-day Adventist- its parent body South England Conference of Seventh-day AdventlSt, North England Conference of seVentday AdventlStS Seventh-day Adventist Trust Company Ltd, the subsidiary, acts as executor of the wills of deceased member5 of local congregations of the Seventh-day Adventist Church in Britain. Page 2
Seventh-day Adventist Association Ltd Trustees. and Directors, Annual Report (continued) For the year ended 31 December 2021 Objectives, Artivltle5 and Publ1< Benefft The Tru51ee5 confirm that they have complied with the duty in section 5.17 of the Charltles Art 2011 to have due regard to the Charity Commission's general guidance on public benefit. Policles and obJertlves The objective of the Company Is to support the activities of the parent and its assoclated charities. Actlvltles for achieving oblectlves The Company holds title to the land and bullding owned by the associated charities and administers the puichase and sale of these properties. The Company also administer5 the estates of members of the Seventh-day Adventlst church and disburses legacies falling due to the denomination. Grant Makln8 Pollcles Legacies are granted to a55oclated charities in accordance with the expre55ed wishe5 of the donors, or, If nonspecific, In attordance with the geographical regions in whlch the donors were living. Achlevement and performance Revlew of Actlvltles The Company continued to art 05 the trustee property holdSn8 body for the Seventh-day Adventlst Church In the United Kingdom. In addition to custody of deeds and attending to queries raised, the followin8 contracts were signed.. Purchase of Propertles Former Williams Preyer Centre Edmonton 6 Hounslow 2. Rugby Land Lying on the side of Bow fell, Brownsover 3. Hays wood Retreat INorth Runctonl - PL¢rchase of 22 Acres. Sale of Propertle$ l. Former Hyland House School 2. 11 Cuckoo Hall Lane Edmonton N9 8DH 3. Stoke on Trent Parcel of Land ST4 6HX 4. Stoke on Trent Church buildin8 ST4 6EG Due dlligence on renovatlons/Ccntracts HSBC Loan Tottenham West Green Road North Runcton Final pha5el Completion Tottenham West Green Road- Ongoing London Ghana HSBC Loan Phase 2, Youth Hall/Nursery Fulham Church 259 Lillie Road 7LL Refurbishment Rose cottage- Coniston Hovse Rebuild. Edwnonton Loan Page 3
Seventh-day Adventist Association Ltd Trustees, and Dirertors, Annual Report (continued) For the year ended 31 December 2021 Legal Resolutlons The Subsidiary company succe5sfuify completed the admlnlstration of several estates and deceased members of the Seventh-day Adventist Church. Flnanclal revlew Reserve5 Policy The Directors have considered the level of reserves necessary for continuing operatlons and consider that the minimal amount of reseNes In hand is sufflclent for that purpose. At the year end the Charity had unrestricted reserves of £13,760. Plans for Future Perlods The Company plans to continue Its actlvltles as the trustee property holdin8 body for the Seventh- day Adventlst Church Sn the United Kln8dom for the forthcomlng future. Funds held as custodlan The Company acts as property holding trustee for associated charitles, and acts in accordance wlth the wlshes of these charltle5. Rlsk mltlgatlon The Company's directors have given conslderation to the malor r15k5 to whlch the charlty Is exposed and established systems or procedure5 in order to mana8e those rlsks. Page 4
Seventh-day Adventist Association Ltd Statement of Trustees, Responsibilltles For the year ended 31 December 2021 The tfllstees (who are also directors of Seventh4ay Adventlst Association Limited for the purposes of company lawl are responsible for pparing the Trustees. Report and the flnanclal statement5 in accordance with applicable law and United Kingdom Accountln8 Standards IUnSted Klngdom Generally Accepted Accounting Practice.) includln8 FR5102 Yhe Flnanclal Reportlng Standard applyln8 In the UK and Republic of Ireland. Company law requires the trustees to prepare flnancial statements for each financlal year which 8lve a true and falr vlew of the State of the affairs of the charitable company and of the incoming resources and application of resources, includin8 the income and expendlture, of the charltable company for that period. In preparing these financlal statements. the trustees are required to.. 5ele¢t suitable accountin8 policies and then apply them conslstentlv,. ObSee the methods and princlples in the Charities SORP,. make lud8ements and estimates that are reasonable and prudent: State whether applicable UK Accountin8 Standards have been followed, sublecl to any material departures dlsclosed and explained In the financial statements,. prepare the flnancial statement5 on the going concern ba515 unless It Is Inapproprlate to presume thal the charitable company wlll continue in business. The trustees are responslble for keeping proper accountlng records that dlsc105e wlth reasonable accuracy at any Ilme the financial posltion of the charitable company and enable them to ensure that the flnanclal statements comply wlth the Companles Act 2iJ)6 and the Charltles and Trustee Investment Iscoilandl Act 21J)5 and the Charities Accounts (Scotlandl Re8ulatlons 2CK)6 la5 amended). They are a150 responsible for safeguarding the assets of the charitable company and hence for taklng reasonable steps for the prevention and detection of fraud and other Irre8ularltle5. Approved by the Trustees and Dlrectors of Seventh-day Adventlst Assoclatlon Llmlted and 5i8ned on thelr behalf bv: J Surrldge Date.. 1210912022 Page 5
Independent Auditorfs Report to the Members of Seventh-day Adventist Association Llmlted For the year ended 31 December 2021 Oplnion We have audited the finan¢lal statements of the Sevenlh4ay Adventist Association Limlted I'the tMpanY') for the year ended 31 t)ecember 2021 whi¢h comprise the S181emenl of Financial Activilies. the Balance Sheet and notes lo the flnancial slalemenls. including 8ignificanl accounting policies. The financial reporllng framework that has been applied in thelr preparation is applicable law and United Kingdom Accounting Siandards. including FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland, (United Kingdom Genefally Accepted Accounling Pradlce). In our oimnion the financbal statements.. ' give a true and fair view of the slate of the charitable company's affalrs as al 31 December 2021 and of Ils incoming resources and application of resources. including ils in¢ome and expenditure, for the ye8r then ended., .have been properly preparod in ac¢ordan¢e vthh United Kingdom Generally Attepled Acc4)unling Pracbce.. and .have been prepared in accordance wlth th8 requlremenls of the Companles 2Crt)6. Basi8 for opinion We conducted our audit in accwdance with Intemalional Standards on Auditing {UKI IISAS (UK)) and applicable law. Our responsibilities under those $18ndard5 are furlhef described In the Auditor's Responsibililles for the audit of the lin8nci81 statements $ection of our report. We are independent of the charilable company in aw)rdance with the elhi¢81 Tequiremenls Ihal are relevant lo our audit of the flnancial slalemenls in Ihg UK, includlng the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibililles in accordance with these requiremenls. We believe that the audit evidence we have obtained is 8uffi¢ient and appropriate lo provide a basi8 for our opinlon. Con¢lu8ions rnlallng lo going o)n¢ern In audlling the financlal stalemenl8, we have concluded Ihal the Iru8lea$' use of the golng concern basis of a¢counling in the preparalion of the financial stalemenls is appropriate. Based on the work we have performed, we have not idenllfled any mBlerial uncertainties relating to events or ConditnS that, individually or collectively, may cast significant doubl on the charitable company's ability lo continue as a going concern for a period of al least twelve rnonlhs from when Ihe flnancial slalemenls are aulhorised for issue. Our responsibilities and the rnspon8lbllilies of the truste88 wllh ffj8pe¢l to going concern are de$¢ribèd In the relevant secllons of this report, Other information The olher informatlon compdses the informalion included In the annual rep)rt, other than the financlal Stalernenls and our auditor's reFM)rt Ihereon. The trustees are responsible lor the other inlormalion )nlained wtlhin the annual report. Our opinion on the financial slalemenls does not covef the olh6r Information and, except lo the exlenl otherwise explicitly slaled in our report, we do not express any form of assurance conclusion Ihereon. Our responsibillty 1510 read the other information and, in doing so, consider whether the other irrformalion 15 materially inconsislenl with the financi31 slalemenls or our knowledge obtained in the course of the audit or otherwise appears to be materially mi551ated. If we Idenlify such material inconsistencies or apparent material misslalemenls, we are required lo d818rmine whether there is material misslalemenl in the financial stalemenls themselves. If, based on the work we have performed, we conclude that there 18 a material misstalement of Ihis other inf¢xmalion. we are required lo report that fact. Pa8e 6
Independent Auditorfs Report to the Members of Seventh-day Adventlst Association Limited For the year ended 31 December 2021 We have nothing lo report in this gard. Opinions on other mallers prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. .th¢ Information given in the trustees, annual report for the financial year for whlch the flnancial statements are prepared is consislenl with the fiarla1 stalemenls.. and .the Iruslees, annual rèport have been prepared in accordance with applicable legal requirernenls. Mallers on which we are reqUId lo report by exception In the light of the knowledge and understanding of the company and ils environment obiain8d in the cour8e of the auéil, we have not Id8nlified material misslatemenls in the Iruslee$' annual rep¢)rt. We have nothing lo report in respect of the following mallers where the Companies Act 2006 requlres us lo roport lo you if, in our opinion.. adequate accounting reoords have not been kept, or returns adequale for our audit have not been received from branches not visited by us,. or .Ihe flnancial slalemenls are not in agreement wllh the accounting records and returns,. or •cerlain disclo$ures ol Irusloes, remuneration specifled by law are not made., lorl we have not received 811 the information and explanations we require for our audil.l orl the Iru8lee8 were not 8nlilled lo prepare the financial slalemènls in accordance with the sniall companies regime and lake advantage of the small companies exemption in preparing Ihe Iruslees, annual report and from preparing a strategic report. Responsibllllles of Iruslees As explained more fully in the Iruslees, responsSbililies sialemenl sel out on page 5. the Iruslees {who are also the directors of the charitable company for the Pufposes of company lawl are responslble fcf the preparation of the financial slalemenls and for being salislied that they give a true and fair view, and for such internal control as the Iru51ee$ determine is necessary lo enable the preparation of financial statements that are free from material mlsslalemenl, whether due lo fiaud or error. In preparing the financlal s18lemen15, the Iruslees are responsible for assessing the Gharilable company's ability to continue as a going concern. disdosing, as applicable, mallers related lo going concern and using the going concgrn basis of accounting unless the Iruslees either intend lo Ilquidale the charitable company or lo cease operation$, or have no realSslic allernalive bul lo do so. Auditor's Responsibilities for the audit of the financial 8lalemenl8 Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will always delecl a material misslalemenl when il exists. Misslalemenls can arise from fraud or error and are considered material rf, individually or in aggregat8, they could reasonably be expected lo inflLJence the economi¢ decisions of users taken on the basis of these financlal slalemenls. A$ part of an audrt in accordance with ISAS IUKI we exercise professional ludgemenl and maintain professional scepticism IhroLtgh(MJt the audrt. We 81$0.' .Idenlify and assess the risks of material misslalemenl of the financial slalemenls. whether due lo Iraud or error, design and perforni audit procedures SponS[Ve to those risks, and obtain audit evidence that is sufticienl and apprOprle lo provide a basis for our opinion. The risk of not delecling Page 7
Independent Auditorfs Report to the Members of Seventh-day Adventist Association Llmited For the year ended 31 December 2021 material misstaiemenl resulting from fraud 15 higher than for one resulting from error, as fraud may invdve cdlusion, forgery, intentional omissions. misrepresenlalions, or the override of internal control. .Oblaln an understanding of internal control relevant lo the audit in order lo design audit procedures that are appropriate in the circumstances, bul not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control. .Evaluale the appropriateness of accounting policies used and the reasonableness of a¢counling eslimales and related disclosure5 made by the Iruslees. .Condude on the appropriateness of the trustees. use of the going concern basis of accounting and. based on the audit evidence obtained, whether a material uncertainly exists related lo events or condllions that may cast significant doubt on the charitable company's ability lo continue as a going concern. If we conclude that a material uncertainly exists. we are rèquired lo draw allenlion in our auditor's report lo tho related disclosures in the financial sl8lemenls or, if such disclosures are in8(Jequale, lo modify our opinion. Our conclusions are based on the audil evidence obtained up lo lh8 dale of our auditor's report. However, future events or ¢ondilion5 may cause the ¢hari18ble company lo cease lo conllnue as a going concern. .Evaluate the overall presenlallon. structure and conlenl of the financial stalemenls, including th8 disclosures. and whelhor the financial statements represenl the underfying lrans8clion8 and events in a manner that achieves fair presentation. We communicato with those ¢h3rged with governance regardlng. among other mallers. the planned scope and liming of the audit and significant audil findings, including any slgnificanl defkiencies in Internal control that we identify during our audit. Explanation as lo what exlenl the audit was consldered capable of delecling irregularities, Induding fraud Irregul2rilies, including fraud, are instanc&s of non-compliance wilh laws and regulation8. We design prOdureS in line with our re8ponsibllilies, outlined above, lo ¢Jelecl material misslalemenls In re$cl of irregularities. irlUding fraLJd. The exlenl lo which our procedures are capable of delecllng irregularities, including fraud 1$ dolalled below. The objectives of our audit in respect of fraud, are., lo identify and assess the risks of material misstalemenl of the flnanci81 slalemenls due lo fraud., lo oblaln sufficlenl appropriate audit evidence regarding the assesseii risks of material missl8lemenl due lo fraud, through designing and Implementing appropriate rosponses lo those assessed risks,. and lo respond appropri8lely lo instances of fraud or suspected fraud identified during the audit. However, the prlrnary responsibility for the prevention and detection of fravd rests with both management and those charged with governance of the charitable company. Our approach was as lollows.. .We obtained an underslandlng of the legal and regulatory requirements applicable lo the charitable company and considered that the most significant are Ilhe Companies Act 2006, the Charities Act 2011, the Charity SORP. and UK financial reporting standards as issue(I by the Financial Reporting Councill .We obtained an underslanding of how the charitable company complies with these requirements by discu5s1on5 With managen7enl and those charged with govemance. Page 8
Independent Auditor's Report to the Members of Seventh-day Adventist Associatlon Limlted For the year ended 31 December 2021 .We assessed the risk of material misstalemenl of the financial stalemenls. including the risk of material misstalemenl due lo fraud and how il might oexur, by holding discussions with management and those charged with governance. .We inquired of man8gom8nl and those charged with governance a8 lo any known instances of non ¢ompliance or suspected noll-compliance with laws and regulations. .Basod on this understanding. we designed specifi¢ approprlale 8udil procedures lo identify instances of non-compliance with laws and regulations. This include¢J making enqulries of management and those charged with governan¢e and obtsining additional ¢orroboraliv6 evidence as required. There are inherent limitations in the audit procedures describod above. We are less likeli lo become aware of Instances of non-compliance with laws and regulations th81 are not closely related lo events and transactions reflected in the flnancial statements. Also. the risk of not delecling a material mi531alernenl due lo fraud is higher than the r15k of not delecling one resulting from error, as Iraud may involve deliberate concealment by, for example, forgery or Intentional misrepresenlalion$. or through collusion. Use of our report Thls report is mado solely lo th& ¢hari18ble company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, Our audit work has been undertaken $0 that we might slate lo the company's member8 those mallers we are reoulred lo slate lo them in an auditor's rvwrl drid l¢)r Iiu ullier purposts. Tu Ilie fullest exlenl permlllad by law, we do not aceepl or assume responsibility lo any party other than the charitable company an(J charitable company's member8 as body, for our audit work. for Ihls report, or for the oplnions we have formed. /LLOL IDatel 26.09.2022 Silvia Vlllello (Senior Slalulory Audilorl for and on behalf of Moore King31on Smith LLP, Stalulory Auditor 4 Victoria Square Sl Albans Herts AL1 3TF Page 9
Seventh-day Adventist Association Ltd Statemant of Financial Activities For th• year ended 31 December 2021 Unrestrlcted Fund¥ Restrlct•d Fund8 Total 2021 Total 2020 In¢omo and Expendlturo Not08 Incom• and ondowm•nts from Donations and legacie8 Investment in¢orne Other Total Incomlng Resour¢ 31.000 31.000 141,403 9,347 9,347 9,347 40.347 678 142,084 31,000 Expandltur• on Grants made Others Total Rg•ouro•• Expend•d 31.000 31,000 160,576 18 160,594 31,000 31,005 Not (Outgolng)I In¢omlng Rosourc 9,342 9,342 118,5101 Transfers between funds N•t Movemenl In Funds 9,342 9,342 118,5101 Fund balanGe8 brought forward 4,418 4,418 22,928 Fund bal8n¢es carried forward 13,760 13,760 4,418 There were no recogni88d gains and losses other than those included in the 818lemenl of financial aclwi(188. Page 10
Seventh-day Adventist Association Ltd
Balance Sheet at 31 December 2021
| Notes Fixed Assets Investments 6 Current Assets Debtors 7 Cash at bank and in hand Creditors: Amounts falling due within one year Net Current Assets Net Assets Funds Unrestricted Restricted 8 |
2021 2020 £ £ 100 100 100 100 4,863 2,613 16,966 9,488 21,829 12,101 8,169 8,169 13,660 13,760 13,760 13,760 7,783 7,783 4,318 4,418 4,418 4,418 |
|---|---|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved and authorised for issue by the Board of Trustees on: 12/09/2022 and signed on its behalf by:
J Surridge
Company number 89953
The notes on pages 12 to 14 form part of these accounts.
Page 11
Seventh-day Adventist Association Limited Notes to the Accounts for the year ended 31 December 2021 l. Accountinu Policles Bas1$ of preparatSon The accounts have been prepaied under the historical cost convention, in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Irelantl IFRS 1021. The company is a publi benefit entity for the purposes of FRS 102 and a iegistered charity establlshed as a company limited bv guarantee and therefore has also prepared tts financial statements in accordance with the Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financial Reporting standard applScable in the UK and Republic of Ireland (The FRS 102 Charities SORPI. the Companies Act 2006 and Charities Act 2011. Goln8 Concern The Trustees have also consldered the impact of the Coronavirus and measures taken in the UK. The charity has sufficient cash and reserve5 at the time of approval of these financlal statements. Having made enquirle5, the trustee5 have concluded that there is a reasonable expectation that the charity ha5 adequate resourtes to continue In operational exSstence for at least 12 months from the date of the Independent examlners, report of these financlal statements. The charlty therefore contlnue5 to adopt the going concern basis in preparing Its financial statements. Basls of consolldatlon The financial statements, being the statements of a small entitV* do not consolidate the financial statements of Seventh-day Adventist Trust Company Limited. as permitted by section 415A of the Companies Act 2006. Company status The charity is a company Ilmited by Buarantee. The members of the company are the trustees named on pa8e l. In the event of the charity bein8 wound up, the Ilability in respect of the guarantee Is limited to El per member of the charity. Incomlng resources Voluntary income by way of donatlons and 8ifts to the charltable company is included in full In the statement of flnancial actlvities when received. Intan8ible income Is not Included unless It represent5 800ds or services which would have otherwise been purchased. Legacies are monitored from the time of notification to their final receipt. They are only included in the financlal statements when there Is sufficient evidence that the legacy will be received, and the value can be measured with sufflcient reliabillty. Fund accountlng Restricted funds ire those which are to be used for the specified purpose5 as laid down by the donor. Expenditure which meets these criteria is allocated to the appropriate fund. Unrestricted funds are donations and other income received or 8enerated for the furtherance of the objects of the charitable company without Specified purposes and, therefore. are available as Eeneral Page 12
Seventh-day Adventist Association Limited Notes to the Accounts for the year ended 31 December 2021 Grant-making pollcie5 The trustees allocate grants in accordance with the objects set out in the Memorandum and Artlcles of Association of the charitable company, which are summarised In the Trustees, Annual Report. Resources expended. Staff costs and overhead expenses are allocated to activities on the basis of time spent on those activities. Resources expended are included in the Statement of Financlal Activities on an accrual's basis. Governance c05t5 are those incurred in connection with admlnistration of the charltable company and compliance with constitutlonal and statutory requirements. All costs include value added tax where applicable. Rlsk mltl8atlon The charitable company's dlrectors have 8lven conslderation to the major risks to which the charity Is exposed and have established systems or procedures Sn order to manage those rlsks. Page 13
Seventh4lay Advontist Association Ltd Notès to the Accounts For thg year ended 31 Dgcgmber 2021 Z Donatlons and L•gacle• Unre•tricted Funds R•Jtrfctad Funds Totsl 2021 Tot•1 202Q Legad85 31,rM]o 31,rxio 31,QOO 31.000 141.403 141,403 3. Gr•nt• m•d• Gran16 to Seventh•ay Adventist durfrvJ th• p0d As follo.. Unrntrlct•d Fund• R•Jtrlct•d Fund¥ Totsl 2021 Total 2020 9rfJgh Unlon CoThffjrence Schoo16 Adv8nt15108vdopmant and Agency North England Ccnfer8nce and Churchg South Ewl&rn1 Confer•ncs and Churc5 Other Grant• 8,OJO 36,381 11x1,190 31.ODO 31.CQJ 16.QJO Tol•l Grants 31.000 31.000 160.577 4. Total R••ourcM EXPded Unrn•trlct•d Fund• R•Btrl¢t•d Fund• Tot•1 2021 Totjl 2020 Granls programme Support of b¢01 ¢ongregatlon$ Tot•1 Exp•ndltur• 31,000 31,000 180,577 18 160,595 31.000 31.000 lfyjepvThJI ExBrnln8rf8 unerallOn ll bom• by edi8h Unlon PA•nforence S. Staff CoBtI The 8VW8ge number of employeos during th8 yeBf w80 NIL12020- NIL) No InJ•tw$ r8cdv•d rémunération or exp8n&e5 durlng th8 year 6. Flxéd A•••t IntrnInI• The Inv851menl h8hl by the chad¢abl¢ company ¢on61sts ol a 1W% owi&J 8ub61dLqry compony, Sevenih Oay Ad¥8nllsl Trd&t Company Llmlted ffth Is hekl Bt wst The Sovonth-day Adven1151 Trust Comp8ny Limilad prlndp818dlvlty Is to acl as oxgculrff ol the blllB of mgmber8 of affilktod lotsl congroa803 cf S8venth4ayA(Jvenlsts. Relev8nl finandal infomation regarding the S8venth-d8y A(fvenli8t Trust Comp8ny Ltd18 a8 follows.. Totsl 2021 To¢•1 2020 Tum0¥8r Admlnlslration expw8es Ngt profitrloss after ta¥alon 14,538 18,0841 Aggrtyale ¢apital aTxJ re5eFves 6,416 6,416 Page 14
Soventh-day Adventist Association Ltd Notes to tha Accounts For the year ended 31 December 2021 7. Dobtor• Totsl 2021 Total 2020 Du8 from Bub8idiary undertakir¥J 2.613 4,863 2.613 8. Cr•dltor•: Amount• falllng du• wlthln on• Due lo parent charity Loan from b8nefa¢tor Other Cre(illor8 8.212 6,069 968 8,169 725 7,783 Page 15
Seventh-day Adventist Association Ltd Notes to Ihe Accounts For the year ended 31 December 2021 •.Anwly•l• of fvnd• 8•14rbc• •t MoverrKnt J•nts 1•t Ineomln R•8our¢ TMnAfer Outgolng b•ttn lund• anco at D•c•mb•r3111 2021 ReSidcted funds 31.¢))O 131,0001 Genernl fL)Y8 4.418 9.347 13.760 4.418 40.347 31.005 13.780 10. Tol•l lund• Tothl Fund• Fund• Fundl In¥e4knonts 1Q) 13.e80 13.160 13,860 13.760 11. Conimlllng Party Thè por•¢•ty iu lh8 Bdlish thon Confer•nc• ol Sa4nih-dayAdwJnti¥1s. byvlrtw of ExeryJlive Cornmiiiae's po110 •pp¢inl Ihe dlracior8 of th? compgny. T chaty numbefed 1044071 IJ re9lBI?rgd In England and il has th8 follown9 18gi8iertd offlco 4ddroM.' Sovenih-day AdnI1$1 ChuFch Hvodqu8rtor8. snbo1 P•rk. W*tlord, W025 gJZ. Enqlllnd. Th8 charl1¥8 Pufpose and b"vlll•s Involve dIn@ p•¢pl¢ Inio a pei8w•l r•l•l1onshlpth Jèaus Chrtil. A copyol th•lr IVnI can bo oblalnod from lh• Charty Comm[oOnI w•b81W. Page 16