2020-08-31-accounts - International Bible Students Association

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r Ended 3	1st August 20	20
							2020	2019
					Unrestricted	Restricted	Total	Total
					fund	fund	funds	funds
				Notes			f	f
INCOME	AND ENDOWMENTS		FROM
Donations	and legacies			2	29,223,716	750,712	29,974,428	27,416,043
Investment	income			3	14,049		14,049	10,256
Other income					39253 707		39253 707	68958
Total					68,491,472	750,712	69,242,184	27,495,257
EXPENDITURE ON
Charitable	activities			4
Provision	ofconventions	for Bible	education		407,907		407,907	1,736,937
Donations	and aid				60,889,725		60,889,725	1,411,193
Provision	ofserviced facilities				3,712,042		3,712,042	2,449,112
Caring for	members ofthe Order				7,128,628		7,128,628	5,205,326
Provision	offacilities to produce Bible based literature
					376,687		376,687	381,515
Total					72,514,989		72,514,989	11,184,083
NET INCOME/(EXPENDITURE)					(4,023,517)	750,712	(3,272,805)	16,311,174
Transfers	between funds			76	7507 2	~7507I23
Net movement in funds					(3,272,805)		(3,272,805)	16,311,174
RECONCILIATION OF FUNDS
Total funds brought forward					161,208,310		161,208,310	144,897,136
TOTAL FUNDS CARRIED FORWARD					57.935505		157,935.505	161,208,310

Sheet 2020
				2020	2019
		Unrestricted	Restncted	Total	Total
		fund	fund	funds	funds
	Notes	f	f	f	f
FIXEDASSETS
Tangible assms	9	168,017,001		168,017,001	191,(kl8,976
Social investments	10	460,215		460,215	460,215
		168,477,216		16S,477,216	191,509,191
CURRENT ASSETS
Stocks	II	112,862		112,862	170,387
Debtors	12	1,878,815		1,878,815	1,389,283
Cash at bank and in hand		1,793,527		1,793,527	2,179,858
		3,785,204		3,785,204	3,739,528
CREDITORS
Amounts falling due within one year	13	(2,782,290)		(2,782,290)	(3,495,784)
NET CURRENT ASSETS		1.002,914		1.002,914	243,744
TOTAL ASSETSLESSCURRENT LIABILITIES		169,480,130		169,480,130	191,752,935
CREDITORS
Amounts falling due ager more than one year	14	(11,544,625)		(11,544,625)	(30,544,625)
NET ASSETS		157,935405		157,935,505	61,208,310
FUNDS	16
Unrestricted funds				157. 355D5	1612083 0
TOTAL FUNDS				157,935,505	6 2118,3 ID

w Statement r Ended 31stAugust 2020
				Notes	2020 f	2019f
Cash flows from operating activities Cash generated from operations				19	~41020571)	17.732 3 2
Net cash (used in)/provided	by operating		activities		~102057 )	I .732 372
Cash flows from investing	activities
Purchase oftangible fixed assets					(12,028,281)	(33,514,774)
Purchase ofsocial investments						(460,215)
Saleoftangible fixed assets					70,648,472	470,214
Interest received					14049	10250
Net cash provided by/(used	in) investing		activities		58,634,240	~33494.5 9)
Cash flows from financing	activities
New loans in year Loan repayments in year					~18DID000	14,000,000
Net cash (used in)/provided	by financing		activities		~38000000)	14000 ODD
Change in cash and cash	equivalents	in the
reporting period					(386,331)	(1,762,147)
Cash and cash equivalents	at the beginning			of
the reporting period					2,179858	3,942,005
Cash and cash equivalents	at the end		ofthe
reporting period					793,527	2179,058

2.	DONATI	ONS AND L	EGACIES
							2020	2019
							f	f
	Legacies						4,592,210	2,493,658
	Non-cash	donations					1,810,832	645,717
	Cash donations						23,566,494	24,276,668
	Other Income						892
							29974428	274I6043
3.	INVESTMENT INCOME
							2020f	2019 f
	Deposit account interest						14,049	10,248
	Current asset investment		income					8
							14,049	~10 256
4.	CHARITABLE ACTIVITIES COSTS
					Grant
					funding	of
					activities		Support
				Direct	(see note		costs (see
				Costs	5)f		note 6) f	Totalsf
	Provision	ofconventions	for Bible education	389,700			18,207	407,907
	Donations	and aid		593,950	60,295,775			60,889,725
	Provision	ofserviced facilities		3,546,340			165,702	3,712,042
	Caring for	members ofthe Order		6,810,414			318,214	7,128,628
	Provision	offacilities to	produce Bible
	based literature			359,871			16.816	376,687
				. IN.275	60295	7	5 8939	72.5 .989

SUPPORT COSTS
			Information		Governance
		Finance f	technnlogy		cosa 8	Totals f
Provision ofconventions	for
Bible education		2,332	11,988	3,205	682	18,207
Provision ofserviced facilities		21216	109,086	29,184	6,216	165,702
Caring for members ofthe
Order		40,743	209,489	56,045	11,937	318,214
Provision offacilities to
produce Bible based literature		~2153	~tl 070	~2962	631	~16816
		66,444	~341 633	91,396	19,466	518,939

Net income/(expenditure) ic stated after charging/(crediting):
	2020	2019
		f.
Auditors' remuneration	19,466	19,612
Depreciation - owned assets Other operating leases Surplus on disposal offixed assets	3,594,178 397,789 ~39. 82.394)	1,732,020 1,162,803 ~7.570	7

TANGIBLE FIXED ASSETS
		Assets in
		the
	Freehold	course of	Plant and
	property	construction
		machinery
COST
At 1st September 2019 Additions	113,208,932 5.750,940	97,879,041 5,687,351	1,666,893 119,043
Disposals Reclassification	(38,699,217) 102014647	~103.5 6.392)	(509,082) 92 745
At 31st August 2020	182905,302		2,198,599
DEPRECIATION
At 1st September 2019 Charge t'or year Eliminated on disposal	20,836,088 3,335,485 ~7348,640)		1,219,729 118,193 ~427.990)
At 31st August 2020	16,822,924		909,932
NET BOOK VALUE
At 31st August 2020	7*6082378		1.255907
At 31st August 2019	92,372,844	97,879,041	447,164

	Fixtures
	and	Motor	Computer
	fittings f	vehicles f	equipment f	Totals f
COST
At 1st Scptcmber 2019	40,428	738,555	290,128	213,823,977
Additions	16,759	227,849	226,339	12,028,281
Disposals	(7,056)	(222,943)	(45,742)	(39,484,040)
Reclassification
At 31stAugust 2020	50131	7 3 61	470725	~)86368 )8
DEPRECIATION
At 1stSeptember 2019	26,156	530,073	162,955	22,775,001
Charge for year Eliminated on disposal	5,380 ~6350)	42,856 ~)89731)	92,264 ~45 242)	3,594,178 ~80 96 )
At 31st August 2020	25)86	383198	21)9977	18351217
NET BOOK VALUE
At 31stAugust 2020	24 945	36D,263	270 748	768 017.001
At 31stAugust 2019	14272	205 482	127,173	191048.076

SOCIAL INVESTMENTS
	Pmgramme
	related
	investments
	equityf
MARKET VALUE
At 1stSeptember 2019and 31stAugust 2020	460 215
NET BOOK VALUE
At 31st August 2020	400215
At 31stAugust 2019	46D215

r End	ed 31st August 2020
12.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
			2020	2019
			f
	Other debtors		394,874	377,348
	Prepayments and accrued	income	1,483,941	1,011,935
			1,878,815	1,389,283
13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			2020	2019
			f
	Other loans (see note 15) Trade creditors		1,000,000 187,734	332,906
	Other creditors Accrued expenses		1,488,119 106,437	2,904,223 ~258655
			~2,782 290	3,495,784
14.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
			2020	2019
			f	f
	Other loans (see note 15) Accrusls and deferred income		2,927,881 8.6 6744	21,927,881 8.616 74
			11,544625	38544625

MOVEMENT IN FUNDS
		Net	Transfers
		movement	between	At
	At 1.9.19 f	in funds f	fundsf	31.8.20 f
Unrestricted funds
General fund	161,208,310	(4,023,517)	750,712	157,935,505
Restricted funds
Relocation Project		750,712	(750,712)
TOTAL FUNDS

							Incoming	Resources	Movement	Movement
							resoutces f	expended f		in funds f
Unrestricted	funds
General fund							68,491,472	(72,514,989)	(4,023,517)
Restricted funds
Relocation Project							750,712			750,712
TOTAL FUNDS							69242354	~72 53 .9897	~3272 8057
Comparatlves	for movement			in funds
							Net	Transfers
							movement	between		At
					At	1.9.18 f	in funds f	funds		31.8.19 f
Unrestricted	funds
General fund					140,584,025		14,639,882	5,984,403	161,208,310
Restricted fuads
Relocation Project					4,313,111		1,671,292	(5,984,403)
TOTAL FUNDS					144897 3*		63 1174		6	208 3 0
Comparative	net movement		in	I'unds, included	in the above are as follows:
							Incoming	Resources	Movement
							resources f	expended f		in funds
Uarestricted	funds
General fund							25,823,965	(11,184,083)	14,639,882
Restricted fu	ada
Relocation Project							1,671,292			1,671,292
TOTAL FUIIiDS							27495,257	~18 0837	1631,1 4
A current year 12months		and		prior year 12 months combined		position is as follows:
							Net	Transfers
							movement	between		At
					At	1.9.18	in funds	funds		31.8.20
						f	f	f
Unrestricted	funds
General fund					140,584,025		10,616,365	6,735,115	157,935,505
Restricted funds
Relocation Project					4,313,111		2,422,004	(6,735,!15)
TOTAL FUNDS					144897 136		13,038,369		5	935505

A cument year 12 months and prior year 12 m follows:	onths combined net movement in funds	, included in the abo	ve are as
	Incoming	Resources	Mov0nnent
	resources f	expended f	in funds
Unrestricted funds
General fund	94,315,437	(83,699,072)	10,616,365
Restricted funds
Relocation Project	2,422,004		2,422,004
TOTAL FUNDS	967374) I	~83 6 .072)	13038369

	have similar aims and Tiilstees.	obje	ctives. This is explained further in t	ctives. This is explained further in t	ctives. This is explained further in t	he 'Wider Network' paragraph ofthe Report of the	he 'Wider Network' paragraph ofthe Report of the	he 'Wider Network' paragraph ofthe Report of the
19.	RECONCILIATION	OF	NET (EXPENDITURE)/INCOME			To NET CASH FLOW FROM OPERATING
	ACTIVITIES
							2020	2019
								f
	Net (expenditure)/income Financial Activities)		for the reporting		period (as per the	Statement of	(3,272,805)	16,311,174
	Adjustments for: Depreciation charges Profit on disposal of fixed assets Interest received						3,594,178 (39.182,394) (14,049)	1,732,020 (7,881) (10356)
	Decrease in stocks						57,525	26,475
	(Increase)/decrease in Decrease in creditors	debtors					(489,532) ~73.494)	1,119,963 39. 23)
	Net cash (used in)/provided			by operations			~4I,O2tl,571)	7,732,3 2
20..	ANALYSIS OF CHANGES			IN NET DEBT
						At 1.9.19	Cash liow	At 31 8.20
						f
	Net cash Cash at bank and in hand					2.179.858	~386.331)	1,793,527
						2,179,858	~386,331)	1.793,527

r Fnde	d 31st August 2020	d 31st August 2020	d 31st August 2020
20..	ANALYSIS OF CHANGES			IN NET DEBT - continued
	Debt
	Debts	falling due within	I year			(1,000,000)	(1,000,000)
	Debts	falling due at)er I	year		~21,927881)	~19000 000	~2,927,881)
					~21 927,881)	~18000,000	~3,927,881)
	Total				~19 748 023)	~17 613669	~2,134,354)
21.	FINANCIAL INSTRUMENTS
						2020	2019
	Debt	instruments at cost
		Other debtors				394,874	377,348
		Accrued income				365 75	765 370
		Total				1.760.849	1.142.718
	Financial Liabilities at		cost
		Other loans				1,000,000
		Trade creditors				187,734	332,906
		Other creditors				1,488,119	2,904,223
		Accrued expenses				106,437	258,655
		Other loans &I year				2,927,881	21,927,881
		Accruals and defemxl income				86 6.744	8.616741
		Total				1432*915	34,040,409