2021-08-31-accounts - International Bible Students Association

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Registered Charit 216647	y	nu	mber
Registered office
I Kingdom Way
West Hanninglield
Chelmsford
CM2 8FW
Trustees
J Manley
SPapps (resigned	31.10.21)
KSnaith
I Darby (resigned	31.8.21)
SC H Symonds
M Simpson (appointed			8.11.21)
A Sutton (appointed		1.9.21)
Auditors
Calcutt Matthews	WBZ		Ltd
Chartered Accountants			and Statutory Auditor
19North Street
Ashford
TN24 8LF
Bankers
Barclays Corporate		North London Team
1-2Trinity Way
Chingford
London
E4 8TD

for the Ye	ar Ended 3	1s	tAugust 2	021
							2021	2020
							Unrestricted	Total
						Notes	fundf	funds
INCOME	AND ENDOWMENTS			FROM
Donations	and legacies						34,867,079	29,974,428
Investment	income						1,583	14,049
Other income							36,938,741	39,253,707
Total							71,807,403	69,242,184
EXPENDITURE ON
Charitable	activities
Provision	ofconventions		for Bible	education			79,494	407,907
Donations	and aid						63,525,482	60,889,725
Provision	ofserviced facilities						3,499,796	3,712,042
Caring for	members ofthe Order						8,087,083	7,128,628
Provision	offacilities to		produce Bible-based		literature		312,113	376,687
Total							75,503,968	72,514,989
NET INCOME/(EXPENDITURE)							(3,696,565)	(3,272,805)
RECONCILIATION		OF FUNDS
Total funds brought		forward					157,935,505	161,208,310
TOTAL FUNDS CARRIED FORWARD							154,238,940	157,935,505

Balance Sheet 31stAugust 2021
		2021	2020
		Unrestricted	Total
		fund	funds
	Notes	f,
FIXEDASSETS
Tangible assets	9	156,027,845	168,017,001
Social investments	10	4602 5	460,215
		156,488,060	168,477,216
CURRENT ASSETS
Stocks	ll	154,850	112,862
Debtors	12	1,080,607	1,878,815
Cash at bank and in hand		1 069.793	1,793,527
		3,105,250	3,785,204
CREDITORS
Amounts falling due within one year	13	(1,926,411)	(2,782,290)
NET CURRENT ASSETS		1,178,839	1,002,914
TOTAL ASSETSLESSCURRENT LIABILITIES		157,666,899	169,480,130
CREDITORS
Amounts falling due after more than one year	14	(3,427,959)	(11,544,625)
NET ASSETS		154238 940	157935.505
FUNDS	16
Unrestricted funds		154,238,940	157,935,505
TOTAL FUNDS		154,238,940	157,935,505

				2021	2020
			Notes
Cash flows from operating activities Cash generated from operations			18	~44.220 835)	~4) 020.57))
Net cash used in operating	activities			~44,220,835)	~4),020,57))
Cash flows from investing	activities
Purchase oftangible fixed assets				(612,512)	(12,028,281)
Sale oftangible fixed assets				45,908,030	70,648,472
Interest received				1 583	14,049
Net cash provided by investing activities				45 297,101	5863 .2 0
Cash flows from financiag Loan repayments in year	activities			~)000000)	~)8.000.000)
Net cash used in financing	activities			~tl00 000)	~800tl.allO&
Change in cash and cash	equivalents	in the
reporting period				76,266	(386,331)
Cash snd cash equivaleats	at the beginning		of
the reporting period				1793527	2 179,858
Cash and cash equivalents	at the end	ofthe
reporting period				869 93	93527

Freehold land	Not depreciated
Buildings	2%to 2.5%on cost
Plant and machinery	10%on cost
Motor vehicles	14%to20%on cost
Assets in the course ofconstruction	Not depreciated
Fixtures and fittings	20% on cost
Computer Equipment	14%to 33%on cost

DONATIONS AND L	EGACIES
			2021f	2020
Legacies			3,073,698	4,592,210
Non-cash donations			1,059,842	1,810,832
Cash donations			30,695,403	23,566,494
Other Income			38,136	4,892
			3,8 7079	29974428
INVESTMENT INCOME
			2021f	2020f
Deposit account interest			1,583	14,049
OTHER INCOME
			2021 f	2020f
Gain on sale oftangible	fixed assets		36,825,799	39,205,753
Foreign currency gains			(6,41 1)	(2,009)
Income from recycling			119,353	49,963
			36.938741	39.253.707
CHARITABLE ACTIVITIES COSTS
			Support
		Direct	costs (see
		Costs f	note 6) f	Totalsf
Provision ofconventions	for Bible education	75,178	4,316	79,494
Donations and aid		63,525,482		63,525,482
Provision ofserviced facilities		3,307,084	192,712	3,499,796
Caring for members ofthe Order		7,648,093	438,990	8,087,083
Pmvision offacilities to Bible-based literature	produce	29»0	16943	3 2 3
		74.851 007	652,961	75,503,968

SUPPORT COSTS
			Information		Governance
	Finance f		technology	Other	costs f.	Totals f.
Provision ofconventions for
Bible education		702	2,849	630	135	4,316
Provision ofserviced facilities	31,340		127,200	28,151	6,021	192,712
Caring for members ofthe
Order	71,391		289,757	64,127	13,715	438,990
Provision offacilities to
produce Bible-based literature	2,755		11,183	~2476	529	~16943
	~106	188	430,989	95 384	~20 400	~652 961
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
					2021f	2020f
Auditors' remuneration					20,400	19,466
Depreciation -owned assets					4,068,057	3,594,178
Other operating leases Surplus on disposal offixed assets					142,683 ~36.828 4743	397,789 ~33.382.3647

TANGIBLE FIXEDASSETS
			Assets in
			the
		Freehold	course of	Plant and
		property	construction	machinery
COST
At 1st September 2020		182,905,302		2,198,599
Additions Disposals		794,275 .6.6)	77,628	27,793 ~238 916)
At 31stAugust 2021		9532416	77628	987476
DEPRECIATION
At 1stSeptember 2020		16,822,924		909,932
Charge for year Eliminated on disposal		3,813,565 ~517)148)		131,705 ~)89.308)
At 31stAugust 2021		15465 341		852329
NET BOOK VALUE
At 31stAugust 2021		154.067.075	77628	1.135.147
At 31stAugust 2020		166082 378		1,288,667
	Fixtures
	and	Motor	Computer
	Ettings f	vehicles	equipment f	Totals
COST
At 1stSeptember 2020 Additions Disposals	50,131 21,930 ~62 )	743,461 200,140 ~75.809)	470,725 36,691 ~3.50 )	186,368,218 1,158,457 ~63,02 )
At 31stAugust 2021	64 434	767 792	483907	72 9 3653
DEPRECIATION
At 1st September 2020 Charge for year Eliminated on disposal	25,186 7,243 ~4.55))	383,198 61,597 ~)44 9501	209,977 53,947 ~23509)	18,351,217 4,068,057 ~5,533,466)
At 31stAugust 2021	27,878	299,845	240,415	16,885,808
NET BOOK VALUE
At 31stAugust 2021	36,556	67,947	243492	IM,027,8 5
At 31stAugust 2020	24,945	360,263	260,748	168,017,001

SOCIAL INVESTMENTS
	Programme
	related
	investments
	txtutty f
MARKET VALUE
At 1st September 2020 and 31stAugust 2021	460,215
NET BOOK VALUE
At 31stAugust 2021	466 226
At 31st August 2020	460,215

confident that it will continue to	advance the charitable aims ofthe Association.
STOCKS
		2021	2020
		f	f.
Stocks - electrical, maintenance	and home supplies	~154850	112,862
DEBTORSt AMOUNTS FALLING DUE WITHIN ONE YEAR
		2021	2020
		f	f
Other debtors		921,106	394,874
Prepayments and accrued income		159,501	~1483941
		~1080,607	1,878,815
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2021	2020
Other loans (see note 15)			1,000,000
Trade creditors		119,235	187,734
Other creditors Accrued expenses		1,688,824 ~118352	1,488,119 ~106437
		~1926411	~2782,290

CREDITORS: AMOUNTS FALLING DUE AFTER MO	RE THAN ONE YEAR
	2021	2020
	f	f
Other loans (see note 15)	2,927,881	2,927,881
Accruals and deferred income	500,078	8,616,744
	3,427,959	11,544,625

MOVEMEN	T IN FUNDS
							Net
							movement	AI
						At 1.9.20	in funds	31.8.21
							f
Unrestricted	funds
General fund						157,935,505	(3,696,565)	154,238,940
TOTALFUNDS						57.935.505	~3.696.565)	15 .238.9 0
Net movement	in funds, included		in the above	are as follows:
						Incoming	Resources	Movement
						resources	expended f	in funds f
Unrestricted	funds
General fund						71,807,403	(75,503,968)	(3,696,565)
TOTAL FUNDS						71,107,403	~5,503,968)	~3,696,565)
Comparatives	for movement	in	funds
						Net	Tl'at)sfefs
						movement	between	At
				At	1.9.19 f	in funds	fundsf	31.8.20 f
Unrestricted	funds
General fund				161,208,310		(4,023,517)	750,712	157,935,505
Restricted funds
Relocation Proj6x:t						750,712	(750,712)
TOTAL FUNDS				161,208,310		~3,272,805)		157,935,505

						Incoming		Resources	Movement
						resources		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					69,2 2, 84		~2,5)4989) ~3272,805)
A current year 12months		and prior year 12months	combined	position is as		follows:
						Net		Transfers
						movement		between	At
			At	1.9.19		in funds		funds	31.8.21
				f		f			f
Unrestricted	funds
General fund			161,208,310		(7,720,082)			750,712	154,238,940
TOTAL FUNDS			161 208.310 ~6.969.370)						154,238,940
A current year 12months		and prior year 12months	combined	net movement		in funds,	included	in the above are as follows:
						Incoming		Resources	Movement
						resources		expended f	in funds
Unrestricted	funds
General fund					140,298,875		(148,018,957)		(7,720,082)
TOTAL FUNDS					141,049,587		~)46018957)		~6.969.3 0)

18.	RECONCILIATION	OF NET	EXPENDITURE TO NET CASH FLOW FROM	EXPENDITURE TO NET CASH FLOW FROM	OPERATING ACTIVITIES	OPERATING ACTIVITIES
					2021	2020
					f	f
	Net expenditure for the reporting			period (as per the Statement ofFinancial
	Activities)				(3,696,565)	(3,272,805)
	Adjustments for:
	Depreciation charges				4,068,057	3,594,178
	Profit on disposal offixed assets				(36,828,474)	(39,182,394)
	Interest received				(1,583)	(14,049)
	Donated fixed assets received				(545,945)
	(Increase)/decrease in stocks				(41,988)	57,525
	Decrease/(increase) in debtors Decrease in creditors				798,208 ~79 2 545)	(489,532) ~77349 )
	Net cash used in operations				~220,635)	~0057 )
19.	ANALYSIS OF CHANGES IN		NET DEBT
				At 1.9.20	Cash flow	At 31.8.21
					f	f
	Net cash
	Cash at bank and in hand			1,793,527	76,266	1,869,793
				1,793,527	76,266	1,869,793
	Debt
	Debts falling due within	I year		(1,000,000)	1,000,000
	Debts falling due afler I year			~2,927,881)		~2,927,881)
				~3,927,881)	~1000,000	~2,927 881)
	Total			~2,134,354)	1,076,266	~1,058,088)
20.	FINANCIAL INSTRUMENTS
					2021	2020
	Debt instruments at smortised		cost
	Other debtors				921,106	394,874
	Accrued income				105626	1 365 975
	Total				1,026,734	1,760,849
	Fiasncial Liabilities at	amortised		cost
	Other loans					1,000,000
	Trade creditors				119,235	187,734
	Other creditors				1,688,824	1,488,119
	Accrued expenses				118,352	106,437
	Other loans &I year				2,927,881	2,927,881
	Accruals and deferred income				500,078	8,616,744
	Total				5.354370	14326915