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2021-06-30-accounts

Auditor Azets Audit Services Limited
Triune Court
Monks Cross Drive
York
YO32 9GZ

Page
Trustees'
report		 1-7
Statement
ofTrustees'		 responsibilities
Independent
auditor's		 report
Statement
offinancial		 activities
Balance sheet 15
Statement
ofcash flows		 16
Notes to the financial statements 17-35

Unrestricted Unrestricted Restricted Permanent Total Total
Notes funds funds funds endowment 2021 2020
general designated funds
In
m
fr m:
Donations
and
legacies 1,281 269,271 270,552 315,399
Other trading
activities 12,027 12,027 25,201
Investments 37,977 553 38,530 40,985
Total income 39,258 281,851 321,109 381,585
Ex enditure on:
RRaisin
i funds
Fundraising
and
publicity 7,763 1,557 17,818 27,138 29,585
Trading costs 2,576 2,576
10,339 1,557 17,818 29,714 29,585
Charitable
activities
Spreading
the
gospel
in the UK		 21,187 196,641 217,828 236,531
Missionary
work		 in
Sierra Leone 83,758 83,758 119,835
21,187 280,399 301,586 356,366
Total expenditure 31,526 281,956 17,818 331,300 385,951
Net gains/(losses)
on investments 12 80,880 80,880 (61,844)

Net movement in funds 7,732 (105) 63,062 70,689 (66,210)
Fund balances at 1
July 2020 23 60,371 329,819 254,138 4,847,087 5,491,415 5,557,625
Fund balances at
30June 2021 23 68,103 329,819 254,033 4,910,149 5,562,104 5,491,415

2021 2020
Notes
Fixed assets
Tangible assets 14 4,017,686 4,023,639
Investment properties 15 175,000 175,000
Investments 16 849,036 468,156
5,041,722 4,666,795
Current assets
Debtors 17 22,307 28,893
Cash at bank and in hand 511,839 815,369
534,146 844,262
Creditors: amounts falling due within
one year 18 (13,764) (19,642)
Net current assets 520,382 824,620
Total assets less current liabilities 5,562,104 5,491,415
Funds
Permanent endowment funds 21 4,910,149 4,847,087
Restricted funds 20 254,033 254,138
Unrestricted funds designated 22 329,819 329,819
Unrestricted funds general 68,103 60,371
5,562,104 5,491,415

2021 2020
Notes F
Cash flows from operating activities
Cash absorbed
by operations		 26 (30,195) (7,217)
Investing activities
Purchase oftangible
fixed assets		 (11,865) (33,582)
Purchase of investments (300,000) (530,000)
Investment income received 38,530 40,985
Net cash used in investing activities (273,335) (522,597)
Net cash used in financing activities
Net decrease
in cash and		 cash equivalents (303,530) (529,814)
Cash and cash equivalents at beginning ofyear 815,369 1,345,183
Cash and cash equivalents at end of year 511,839 815,369

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2021 2021 2020 2020 2020
F F F F F
Donations and gifts 1,281 243,049 244,330 2,579 273,817 276,396
Grant income 26,222 26,222 39,003 39,003
1,281 269,271 270,552 2,579 312,820 315,399
Donations and gifts
Donations and gifts 1,281 228,047 229,328 2,507 257,353 259,860
Other income 438 438 72 2,610 2,682
Freewill offerings 13,714 13,714 10,992 10,992
Donations for other
charities 850 850 793 793
Associated church
organisations 2,069 2,069
1,281 243,049 244,330 2,579 273,817 276,396
Restricted Total
funds
2021 2020
F F
12,027 25,201
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2021 2021 2020 2020 2020
F F F F F
Rental income 11,910 11,910 10,700 10,700
Interest receivable 26,067 553 26,620 29,365 920 30,285
37,977 553 38,530 40,065 920 40,985
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Spreading Missionary Total Spreading Missionary Total
the gospel work in 2021 the gospel work in 2020
in the UK Sierra in the UK Sierra
Leone Leone
2021 2021 2020
F F F F
Staff costs 75,592 75,592 69,038 69,038
Trustee
liability insurance		 866 866 866 866
Postage, stationary and
telephone 48 48
Travelling
expenses		 65 65 1,516 1,516
Legal and professional 1,647 1,647 5,613 5,613
Property expenses 33,402 33,402 51,160 51,160
Church charitable
expenses 48,260 48,260 68,811 68,811
Sundry expenses 3,839 3,839 5,803 5,803
Mission expenses 83,758 83,758 119,835 119,835
163,719 83,758 247,477 202,807 119,835 322,642
Grant funding
ofactivities
(see note 8) 42,169 42,169 22,444 22,444
Share ofsupport costs
(see note 9) 11,940 11,940 11,280 11,280
217,828 83,758 301,586 236,531 119,835 356,366
Analysis
by fund
Unrestricted
funds-
general 21,187 21,187 28,567 28,567
Restricted funds 196,641 83,758 280,399 207,964 119,835 327,799
217,828 83,758 301,586 236,531 119,835 356,366

2021 2020
Grants to institutions:
Spreading the gospel in the UK 6,403 7,853
Wormley Free Church 29,706
Slough Community Church 266
36,109 8,119
Grants to individuals 6,060 14,325
42,169 22,444

Support co sts
2021 2020
F F
Audit fees 7,920 7,500
Accountancy 3,480 3,300
Independent examiners' fees 540 480
11,940 11,280


The average
monthly
number		 ofemployees
during
the year		 was:
2021 2020
Number Number
Employed
within Connexional		 churches
Employment
costs		 2021 2020
Wages and salaries 72,353 65,671
Social security costs 1,466 1,611
Other pension costs 1,773 1,756
75,592 69,038

Endowment Endowment
funds funds
2021 2020
Revaluation of investments 80,880 (61,844)

Investment
property
2021
Fair value
At 1 July 2020 and 30June 2021 175,000
2021 2020
F F
Cost 80,000 80,000
Accumulated depreciation
Carrying amount 80,000 80,000
Fixed as set investments
Listed
Investments
Cost or valuation
At 1 July 2020 468,156
Additions 300,000
Valuation changes 80,880
At 30June 2021 849,036
Carrying amount
At 30June 2021 849,036
At 30June 2020 468,156

17 Debtors
2021 2020
Amounts falling due within one year: F
Other debtors 22,307 28,893
18 Creditors: amounts falling due within one year
2021 2020
F F
Other creditors 1,290 3,848
Accruals 12,474 15,794
13,764 19,642

Movement
in funds		 Movement
in funds
Current year Balance at 1 Income Expenditure Transfers Balance at 30
July 2020 f F F June 2021
F
Church activities 179,674 186,529 (195,698) (10,118) 160,387
Youth conference 1,509 1,509
Sierra Leone Mission Projects 26,406 68,620 (83,758) 21,639 32,907
Cheshunt
Foundation		 14,888 25,042 (2,500) (12,521) 24,909
Mission and Development 2,275 1,660 1,000 4,935
Centrally managed Church Funds 29,386 29,386
254,138 281,851 (281,956) 254,033
specific church rep airs or o ne-off c osts as they fall d ue. ue.
Movement in funds
Prior year Balance at 1 Income Expenditure Transfers Balance at 30
July 2019 June 2020
f. F F F
Church activities 176,160 214,217 (197,246) (13,197) 179,934
Youth conference 1,516 140 (147) 1,509
Sierra Leone Mission Projects 21,261 100,260 (119,835) 24,460 26,146
Cheshunt
Foundation		 11,189 24,324 (8,625) (12,000) 14,888
Mission and Development 3,275 (1,000) 2,275
Centrally managed Church Funds 31,985 (2,599) 29,386
245,386 338,941 (329,452) (737) 254,138

The permanent The permanent endowment
relates		 to the initial transfer transfer of land and buildings buildings to the Connexion.
In		 Connexion.
In
accordance with the governing
document		 the capital value of the initial transfer is permanently endowed
as explained in the accounting
policy		 notes.
Movement in funds
Current year Balance at 1 Income Expenditure Transfers Revaluations, Balance at 30
July 2020 gains and June 2021
losses
E F F F F
Permanent endowments
Churches
and
manses 4,198,639 (17,818) 11,865 4,192,686
Capital fund 648,448 (11,865) 80,880 717,463
4,847,087 (17,818) 80,880 4,910,149
Movement in funds
Prior year Balance at 1 Income Expenditure Transfers Revaluations, Balance at 30
July 2019 gains and June 2020
losses
F F
Permanent endowments
Churches and
manses 4, 182,150 (17,093) 33,582 4,198,639
Capital fund 743,868 (33,576) (61,844) 648,448
4,926,018 (17,093) (61,844) 4,847,087

Movement in funds
Current year Balance at 1 Income Expenditure Transfers Balance at 30
July 2020
F		 E f June 2021
F
Property maintenance 329,819 329,819
329,819 329,819
Movement in funds
Prior year Balance at 1 Income Expenditure Transfers Balance at 30
July 2019
F		 f f June 2020
F
Property maintenance 329,819 329,819
329,819 329,819

Analysis o f net assets between funds
Unrestricted Unrestricted Restricted Permanent Total
funds- funds- funds endowment
general designated funds
Fund balances as at 30June
2021:
Tangible assets 4,017,686 4,017,686
Investment properties 175,000 175,000
Investments 173,574 675,462 849,036
Current assets/(liabilities) 68,103 156,245 254,033 42,001 520,382
68,103 329,819 254,033 4,910,149 5,562,104
Unrestricted Unrestricted Restricted Permanent Total
funds- funds- funds endowment
general designated funds
Fund balances as at 30June
2020:
Tangible assets 4,023,639 4,023,639
Investment properties 175,000 175,000
Investments 468,156 468,156
Current assets/(liabilities) 60,371 329,819 254,138 180,292 824,620
60,371 329,819 254,138 4,847,087 5,491,415

Comparative
S		 tateme nt of Financial Activities
Unrestricted Unrestricted Restricted Permanent Total
funds funds funds endowment 2020
general designated funds
E E F F
Income from:
Donations
and legacies		 2,579 312,820 315,399
Other trading
activities		 25,201 25,201
Investments 40,065 920 40,985
Total income 42,644 338,941 381,585
Ex enditure on:
Fundraising
and		 publicity 10,839 1,653 17,093 29,585
10,839 1,653 17,093 29,585
Spreading
the gospel		 in the UK 28,567 207,964 236,531
Missionary
work		 in Sierra Leone 119,835 119,835
28,567 327,799 356,366
Total expenditure 39,406 329,452 17,093 385,951
Net gains/(losses)
on investments		 (61,844) (61,844)
Net income/(expenditure) before
transfers 3,238 9,489 (78,937) (66,210)
Gross transfers between funds 731 (737) 6
Net movement in funds 3,969 8,752 (78,931) (66,210)
Fund balances at 1 July 2019 56,402 329,819 245,386 4,926,018 5,557,625
Fund balances at 30 June 2020 60,371 329,819 254,138 4,847,087 5,491,415