| Contents | Page | ||
|---|---|---|---|
| Report ofthe | Trustees | 1-4 | |
| Report ofthe | Auditors | 5-7 | |
| Consolidated | Statement | of Financial Activities | 8 |
| Consolidated | Balance Sheet | 9 | |
| Balance Sheet | 10 | ||
| Notes to the | Financial Statements | 11-16 |
| FOR THE Y | EAR ENDED | EAR ENDED | 31STMARCH 2021 | 31STMARCH 2021 | 31STMARCH 2021 | 31STMARCH 2021 | |
|---|---|---|---|---|---|---|---|
| The trust is | registered as | a charity under reference number 243305. |
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| The trustees | during the year | and to the date of signing | the report were: | ||||
| Mr D H Frampton | (Chairman) | ||||||
| Mr Roger Carswell | (Appointed | 12June 2020) | |||||
| Mrs LJ Murdoch | |||||||
| Mr RJ Powney | |||||||
| Rev A Wingfield | Digby | ||||||
| Key Management | Personnel: | The trustees 8 Mr | EThompson | ||||
| Registered | Office | The Old Boathouse, 41 Bridgefoot Path, Emsworth, | |||||
| Hampshire, PO10 |
7EB. | ||||||
| The principal | professional | advisers to the trust are: |
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| Bankers: | National Westminster Bank pic |
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| 143 High Street | |||||||
| Bromley | |||||||
| Kent BR1 1JD | |||||||
| Property Managers: | Baxter Philips | ||||||
| Northside House |
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| 69Tweedy Road | |||||||
| Bromley | |||||||
| Kent BR1 3WA | |||||||
| Solicitors: | Lawson Lewis 8 Blakers |
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| 11 Hyde Gardens | |||||||
| Eastbourne | |||||||
| East Sussex BN21 4PP | |||||||
| Auditor: | Jacob Cavenagh &Skeet |
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| 5 Robin Hood Lane | |||||||
| Sutton | |||||||
| Surrey SM1 2SW |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Note | E | |||||
| Income from: | ||||||
| Investment income |
405,742 | 439,565 | ||||
| Other | 22 560 | 24 118 | ||||
| Total income | 428 302 | 463683 | ||||
| Expenditure on: |
||||||
| Raising funds | ||||||
| Investment management |
costs | 39,450 | 38,256 | |||
| Charitable activities |
448 973 | 634011 | ||||
| Total expenditure | 488 423 | 672 267 | ||||
| Net gainsl(losses)on | investment | assets | 41 955 | (330604) | ||
| Net expenditure | { 18166) | (539188) | ||||
| Net movement in funds |
( 18,166) | (539,188) | ||||
| Reconciliation ofFunds: |
||||||
| Total funds brought | forward | 6963834 | 7503 022 | |||
| Total funds carried | forward | 695W34 |
| DEO GLORIA TRUST | DEO GLORIA TRUST | DEO GLORIA TRUST | |||||
|---|---|---|---|---|---|---|---|
| NOTES TO THE FINANCIAL STATEMENTS | |||||||
| FOR THE YEAR ENDED 31STMARCH | 2021 | continued | |||||
| 2 | INVESTMENT INCOME (AII UK) | 2021 | 2020 | ||||
| Investment properties |
340,272 | 355,124 | |||||
| Listed investments | 65 470 | 84441 | |||||
| M45 7~4 | 4 956 | ||||||
| 3 | CHARITABLE ACTIVITIES | ||||||
| Activities | Grant | Support | |||||
| undertaken | funding | costs | 2021 | 2020 | |||
| directly | ofactivities | ||||||
| Ministry 93,594 |
254,500 | 26,579 | 374,673 | 601,861 | |||
| Education | 20,700 | 1,000 | 21,700 | 6,000 | |||
| Help/support activities |
51 600 | 1 ODO | 52 60D | 26 150 | |||
| ~93 | 94 | 326 8QQ | M25ZB | 4~48 73 |
34 11 |
||
| Staff costs | 12,505 | 30,324 | |||||
| Office expenses | 1,595 | 1,381 | |||||
| Property and equipment |
8,294 | 11,525 | |||||
| Audit and accountancy | 6 185 28 .'~7 |
5 94D 4M1' |
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| 4 | GRANTS TO INSTITUTIONS | ||||||
| 2021 | 2020 | ||||||
| Evangelism: | |||||||
| 10ofThose | 10,000 | ||||||
| Al Massira Trust | 3,000 | ||||||
| Altitude Mission |
3,000 | ||||||
| Anna Chaplaincy | 5,000 | ||||||
| Association of Evangelists |
22,000 | 30,000 | |||||
| Ataloss | 3,000 | ||||||
| Christian Television Association |
23,000 | ||||||
| Church Army |
3,000 | 2,000 | |||||
| Crown Jesus | 3,500 | ||||||
| Day One | 5,000 | ||||||
| Edge Christian Ministries |
3,000 | 3,000 | |||||
| Eurasian Ministries |
5,000 | ||||||
| Evangelical Alliance |
2,500 | 25,000 | |||||
| Festive | 3,000 | ||||||
| Gideons International |
5,000 | ||||||
| Glencroft Church | 5,000 | ||||||
| Hope | 3,000 | 3,000 | |||||
| International Needs |
3,000 | ||||||
| Kick London | 5,000 | ||||||
| Kidz Klub | 5,000 | ||||||
| Leading the Way | 5,000 | ||||||
| London Institute for Contemporary |
Christianity | 6,500 | 8,000 | ||||
| Middle East Media | 7,000 | ||||||
| Missional Generation |
5,000 | ||||||
| New Creations | 6,500 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| SASRA | 10,000 | ||||
| SAT7 | 6,500 | 3,000 | |||
| Share Jesus | International | 6,000 | 2,000 | ||
| Sportsreach | 12,500 | ||||
| St Peter's Chertsey | 3,000 | ||||
| UFM | 5,000 | ||||
| United Beach Mission | 5,000 | 1,000 | |||
| Urban Saints | 5,000 | ||||
| Wycliffe Bible Translators | 6,500 | ||||
| Other grants | under E3,000 each | 66 000 | 65 700 | ||
| 254 500 | 165700 | ||||
| Education: | |||||
| PAIS | 3,200 | ||||
| Spinnaker Trust |
1,000 | ||||
| Other grants | under E3,000 each | 17500 | 4 000 | ||
| 20 700 | 5000 | ||||
| Help and Support: | |||||
| All Nations | 5,000 | ||||
| Christian Enquiry |
Agency | 6,000 | 7,500 | ||
| Christian Youth |
Enterprises | 5,000 | |||
| Cult Information | Centre | 5,700 | 3,600 | ||
| Dialog Centre | UK | 7,500 | 6,000 | ||
| International | Needs | 5,050 | |||
| Off the Fence | 4,500 | ||||
| Other grants | under E3,000 each | 17900 | 3 000 | ||
| 51 600 | 25 150 | ||||
| Life City Church | 207412 | ||||
| Total | 4 | 262 | |||
| EMPLOYEES' AND | TRUSTEES' (MINISTRY) TRANSACTIONS | 2021 | 2020 | ||
| Gross salaries | 60,586 | 130,763 | |||
| Employer's national |
insurance | 1,937 | 7,890 | ||
| Pension costs | 1 020 | ||||
| 62 523 | ~19 6~7 | ||||
| 2021 | 2020 | ||||
| No. | No. |
| 6 | TANGIBLE ASSETS | Freehold | Freehold | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Property | Equipment | Total | |||||||
| Group and Trust | |||||||||
| Cost at 1st April 2020 | 500,000 | 862 | 500,862 | ||||||
| Additions | 970 | 970 | |||||||
| At 31st March 2021 | 500 | 000 | 1 832 | 501 832 | |||||
| Depreciation | |||||||||
| At 1st April 2020 | 622 | 622 | |||||||
| Charge for the year | 290 | 290 | |||||||
| At 31st March 2021 | 912 | 912 | |||||||
| Net book value | |||||||||
| At 31st April 2021 | 504 | 00~ | 920 | 5&03% | |||||
| At 31st March 2020 | 50 | 00 | 240 | 0024 | |||||
| 7 | INVESTMENTS | ||||||||
| (a) Group |
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| 2021 | 2020 | ||||||||
| Market value | |||||||||
| At 1st April 2020 | 6,346,066 | 6,926,670 | |||||||
| Disposals Net gains/(losses) on revaluation At 31st March 2021 |
( 155,000) 52987 6244 053 |
( 250,000) ( 330604) ~~46 66 |
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| Investment properties |
(all UK) | 4,708,000 | 4,863,000 | ||||||
| Listed investments | (all UK) | 1 536 053 | 1 483 066 | ||||||
| 624~453 | |||||||||
| Historical cost | 3M157M | 31~4~2 | |||||||
| (b) Trust |
|||||||||
| 2021 | 2020 | ||||||||
| Market value | |||||||||
| At 1st April 2020 | 6,347,666 | 6,928,270 | |||||||
| Disposals Net gains/(losses) on At 31st March 2021 |
revaluation | ( 155,000) 52 987 52~4+53 |
( 250,000) ( 330604) 6+4Qg66 |
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| Investment properties |
(all UK) | 4,708,000 | 4,863,000 | ||||||
| Listed investments | (all | UK) | 1,536,053 | 1,483,066 | |||||
| Subsidiary undertakings |
(UK) | 1 600 | 1 600 | ||||||
| Historical cost |
| FO | R THE YEAR ENDED 31 | R THE YEAR ENDED 31 | R THE YEAR ENDED 31 | STMARCH 2021 (continued) | ||
|---|---|---|---|---|---|---|
| 8 | CASH AT BANK AND | IN HAND | 2021 | 2020 | ||
| (a) | Group | |||||
| Cash at bank | 43,479 | 145,503 | ||||
| Cash in hands |
ofagents | 80733 | 56 826 | |||
| 124212 | 2~02 2 |
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| (b) | Trust | |||||
| Cash at bank | 43,479 | 31,606 | ||||
| Cash in hands |
ofagents | 80733 12 22 |
56 826 88~42 |
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| 9 | DEBTORS AND PREPAYMENTS | 2021 | 2020 | |||
| (a) | Group | |||||
| Trade debtors | 16,874 | 29,312 | ||||
| Other debtors | 33,318 | 28,796 | ||||
| Prepayments | and accrued income | 11 351 | 11 124 | |||
| 61 542 | 6L212 | |||||
| (b) | Trust | |||||
| Trade debtors | 16,874 | 29,312 | ||||
| Other debtors | 33,318 | 28,796 | ||||
| Due from subsidiary | 78,245 | 27,027 | ||||
| Prepayments | and accrued income | 11351 | 11 124 | |||
| ~19~78 | 86M28 | |||||
| 10 | CREDITORS: Amounts | falling due within one year | 2021 | 2020 | ||
| (a) | Group | |||||
| Other creditors | 86,344 | 88,036 | ||||
| Accruals | 6,120 | 5,940 | ||||
| Deferred income | 61 283 | 65757 | ||||
| ~1747 | %1~73 | |||||
| (b) | Trust | |||||
| Other creditors | 1,730 | |||||
| Accruals | 6,120 | 5,940 | ||||
| Deferred income | 61 283 | 65757 | ||||
| 57 4~0 | ~7427 | |||||
| Deferred income | 2021 | 2020 | ||||
| Opening balance |
65,757 | 65,803 | ||||
| Rents relating | to current year | (65,757) | (65,803) | |||
| Rents relating | to future periods | 61 283 | 65757 | |||
| Closing balance | 61283 | 6525Z |
| out below: | p | y | |
|---|---|---|---|
| 2021 | 2020 | ||
| Within one | year | 27,084 | 27,250 |
| Within two | to five years | 27 084 | 54 168 |
| 54 1M | 81 4&1 | ||
| The operating | lease charges for the year were: | ||
| 2021 | 2020 | ||
| Hire of plant and machinery | 662 | ||
| Hire of buildings | 36767 | 27 084 | |
| ~367 7 | 27M@i |