## ## ## ## ## |Council members|Council members|The Revd
N TAtkinson|| |---|---|---|---| |||The Revd Dr M E Burkill|| |||Mr P M Cawson QC (until 20 November|2020)| |||The Revd Dr A V Cinnamond|| |||The Revd P T Darlington|| |||Mr J Eggertsen|| |||The Revd RW Farr|| |||The Revd Dr J Hughes|| |||Mrs R C Hunt|| |||The Revd C R H Kilgour|| |||Mr Niv Lobo (from 11August 2020)|| |||The Revd RS Munro|| |||Mrs A Robbie|| |||The Revd WTaylor (until 8 October 2020)|| |||The Revd A P J Towner (Chairman)|| |||The Revd DrJ D Ward|| |||The Revd R A R Weekes|| |||The Revd T Woolford|| |Director||The Revd Dr Lee Gatiss|| |Charity number||249574|| |Company|number|213142|| |Registered|office|Hille Business Estate|| |||132StAlbans Road|| |||Wafford|| |||WD24 4AE|| |Auditors||Jacob Cavenagh
8 Skeet|| |||5 Robin Hood Lane|| |||Sutton|| |||Surrey|| |||SM1 2SW|| |Principal address||Hille Business Estate|| |||132St Albans Road|| |||Watford|| |||WD24 4AE|| ## ## |Bankers|The Royal Bank ofScotland|pic| |---|---|---| ||London Fleet Street Branch|| ||1 Fleet Street|| ||London|| ||EC4Y 1BD|| ||Barclays Bank pic|| ||62/64 High Street|| ||Wafford|| ||WD17 2BT|| |Solicitors|Monro Wright
&Wasbrough|LLP| ||7-8 Great James Street|| ||London|| ||WC1N 3DF|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Forthe year en|d|ed|31 December|2020|||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||nrestrlcted|estncted|n|wment||I/nrestrfct|Restrlc|~|Endowment|| |||||Hates|i|funds
E|funds||funds
E|2020 Total|fundsf|funds
6|'|funds
f i|20/e ro/a/
E| |Income from:||||||||||||||I|| |Dona//ons
and legacies||||||92,429|3,166|||95,595|142,284|720|||143,004| |Other trading acdv/Vest|||||||||||||||| |Rent receivable|||||||200|||200||200|||200| |Fees and other income||||||6,230||||6,230|13,695|3,675|||17,370| |/nveshnents||||||35,233|77,282|||112,515|29,275|76,557|||105,832| |Charitable
acti vlties|||||||||||||||| |Subscrlpdons,
publications||and conferences||||18,002||||18,002|22,117|3,552|||25,669| |Total income||||||151,894|80,648|||232,542|207,371|84,704|||292,075| |Expenditure
on:|||||||||||||||| |Raising funda/|||||||||||||||| |Fundraising
and publicity||||||17||||17|667||||667| |Rental property costs||||||5,303|15,482|||20,785|6,390|17,641|||24,031| |Char/tab/e
acdvltles:|||||||||||||||| |Grant funding
of activities|||||||30,086|||30,086|750|27,920||19,026|47,696| |Activities undenaken
direcBy||||||169,977|1,413|||171,390|171,142|7,451|||178,593| |Support costs||||||42,302||||42,302|45,227||||45,227| |Total expenditure||||||217,599|46,981|||264,580|224,176|53,012||19,026|296,214| |Net gains/goskes)
on investments||||||15,844|104,380||183,943|304,167|1,779)|(17,404)||36,433|17,250| |Net (expenditure)/income||||||(49,881)|138,047||183,943|272,129|(18,584)|14,288||17,407|13,111| |Gross transfers
between|funds|||||41,983|(41,983)|||||(50,223)|||| |Gains/(losses)
on revaluation|||offixed assets for charity's||||||||||||"| |own use||||||35,830|||29,363|65,193|(42,763)|||(34,521)|(77,284)| |Net movement
in funds||||||27.952|96,064||213,306|337,322|(11,124)|(35,935)||(17,114)|(64,173)| |Reconciliation
offunds|||||||||||||||| |Balance at 1 January 2020||||||310,239|1,039,243||1,614,088|2,963,570|321,363|1,075,178||1,631$02|3,027,743| |Balances cerned forward||at|31 December 2020|||338,191|1,135,307||1,827,394|3,300,892|310,239|1,039,243||1,614,088|2,963,570| |The notes on pages 12to 24 form perl ofthese financial||||statements.|||||||||||| ## |||||||2020|2019| |---|---|---|---|---|---|---|---| |Income||||||120,027|186,243| |Gains/(losses)|on|investments||||304,167|17,250| |Interest and investment|||income|||112,515|105,832| |Gross income|in|the reporting||period||536,709|309,325| |Expenditure||||||263,520|293,633| |Depreciation||||||1,060|2,581| |Total expenditure||in the reporting|||period|264,580|296,214| |Net (expenditure)/income|||for the|year||272,129|13,111| ## |||2020|20f9| |---|---|---|---| |Net (expenditure)/income|for the year|272,129|13,111| |Other comprehensive|income||| |Revaluation
oftangible|fixed assets|65,193|(77,284)| |Total comprehensive|income for the year|337,322|(64,173)| ## ||||Notes||2020||2019| |---|---|---|---|---|---|---|---| |Fixed assets|||||||| |Tangible assets||||||703,689|638,221| |Investments||||||2,685,315|2,351,147| |||||||3,389,004|2,989,368| |Current assets|||||||| |Stocks|||10|9,132|||7,616| |Debtors||||13,381|||23,173| |Cash at bank and|in|hand||352,749|||412,450| |||||375,262|||443,239| |Creditors: amounts||falling due within one|||||| |year|||12|(37804)|||(33,101)| |Net current assets||||||337,458|410,138| |Total assets less|current liabilities|||||3,726,462|3,399,506| |Creditors: amounts
than one year||falling due after more|13|||(421,570)|(429,936)| |Provision
for liabilities|||22|||(4,000)|(6,000)| |Net Assets||||||3,300,892|2,963,570| |Funds|||||||| |Endowment
funds|||14|||1,827,394|1,614,088| |Restricted
funds|||15|||1,135,307|1,039,243| |Unrestricted
funds|||16|||338,191|310,239| |||||||3,300,892|2,963,570| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Investment
Inc|ome|||||||| |---|---|---|---|---|---|---|---|---| ||||||||2020
f|2019f| |Investment
properties|||||||81,180|76,039| |Common
investment||funds|||||31,215|29,069| |Cash deposits|||||||120|724| ||||||||112515|1D5 632| |Grants Paid||||||||| ||||||||2020f|2019f| |General Funds||||||||| |Grant to Church|of England||Evangelical|||Council||750| |Amalgamated|Ordination||and|Training||Fund||| |Scholarships|||||||5,000|2,750| |Book grants|||||||500|500| ||||||||5,500|3,250| |Gloucester Mariners||Housing||Fund||||| |Contribution
to|Gloucester||Mariners||Church|||2D QQD| |Maidstone St Faith||Parish|Room|||||| |Contribution
to|St Faith's, Maidstone||||||250|250| |Paddock Wood Parochial|||Hall|Trust||||| |Contribution
to|Paddock Wood|||Church|||24 336|23446| ## ## |5|Operating
leases||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||2020f|2019f| ||The charity
is committed|to the following|||payments|under operating|leases:||||| ||Not later than one year|||||||||14,170|4,374| ||Later than one year and not later than five years|||||||||18,791|| |||||||||||32,961|4,374| ||Lease payments
charged|to expenditure|||in the year|||||14,897|13,020| |6|Charitable
activities|||||Staffcosts||Depreciation|Other costs|Total|Total| ||||||||||f|2020
f|2019f| ||Grant
funding
of activities||||||||30,086|30,086|47,696| ||Activities
undertaken
directly||||||69,154|1,060|101,176|171,390|178,593| ||Support costs||||||31,458||10,844|42,302|45,227| ||||||||100,612|1,060|142,106|243,778|271,516| ||Other costs - Activities|undertaken||directly||||||2020|2019| ||Establishment
and property|||||||||31,368|24,958| ||Publications|||||||||24,371|31,815| ||Meetings
and conferences|||||||||3,750|10,346| ||Professional
and management||fees||||||||| ||Other staff costs|||||||||37,408|42,223| ||Miscellaneous|||||||||4,279|6,882| |||||||||||101 176|116,224| ||Other costs - Support costs|||||||||2020
f|2019
f| ||Professional
and management||fees|||||||3,864|6,942| ||Governance
costs||||||||||| ||Meetings
and conferences|||||||||2,188|4,050| ||Auditors'
remuneration
—audit||services|||||||4,792|4 574| |||||||||||10,844|15,566| ||Staff costs|||||||||2020f|2019
f| ||Wages and salaries|||||||||86,566|85,615| ||Social security costs|||||||||3,094|3,954| ||Pension costs (see note|19)||||||||10,952|120| |||||||||||100,612|Bg,449| ## ## |8|Tangible|fixed assets|fixed assets|rreslxxo
p op rty-|rreslxxo
p op rty-|||| |---|---|---|---|---|---|---|---|---| |||||held for||Rxtures||| |||||charitable||fittings|and|| |||||purposes
f||equi pment
E||Total
E| ||Cost or, valuation|||||||| ||As at 1 January||2020||637,198|12,851||650,049| ||Additions||||||1,335|1,335| ||Disposals|||||||| ||Revaluation||||65,193|||65,193| ||As at 31|December 2020|||702 391|14 186||716577| ||depreciation|||||||| ||As at 1 January||2020|||11,828||11,828| ||Provision|for the|year||||1,060|1,060| ||Eliminated|on disposals||||||| ||As at 31|December 2020||||12,888||12,888| ||Net book|value||||||| ||As at 31|December 2020|||702,391||1,298|703,689| ||As at 31|December 2019|||637 198||1,023|638,221| ## ## |||||||||Investment|Listed|| |---|---|---|---|---|---|---|---|---|---|---| |||||||||Properties|Investments|Total| ||||||||||E|E| |Cost or valuation||||||||||| |Valuation|at|1 January||2020||||1,244,802|1,106,345|2,351,147| |Additions|||||||||30,000|30,000| |Disposals||||||||||| |Revaluation||||||||184,807|119,361|304,168| |Market
valuation|||at 31|December 2020||||1,429,609|1,255,706|2,685,315| |Historic|cost|||||||1,007,868|1,020,569|2,028,437| |Commercial||Road,|Paddock||Wood had a formal valuation|by Ibbett Mosely Chartered|Surveyors|on 31 December|2018 for 625,000.|| ||Listed investments
|are investments
p|laced
with Ruffer LLP and CCLA Investment
Mana|gement
Limited.|| |---|---|---|---|---|---| |10|Stocks|||2020f|2019
E| ||Publications
for resale|||9,132|7,616| |11|Debtors|||2020|2019| ||||||E| ||Prepayments|||8,281|5,812| ||Other debtors|||5,100|17361| |||||13381|23 173| |12|Creditors: amounts|falling due within|one year|2020f|2019f| ||Other creditors|||4,265|2,204| ||Deferred
Income|||5,043|7,802| ||Accruals|||20,024|15,026| ||Mortgage
liability|||8,472|8,069| |||||37,804|33,101| |13|Creditors: amounts|falling due after|more than one year|2020|2019| ||Mortgage
liability|||E|E| ||Due within
1 - 2 years|||8,839|8,472| ||Due within
2 - 5 years|||28,831|27,633| ||Due in more than 5|years||383,900|393,831| |||||421,570|429,936| |14|Movement|on Endowment|on Endowment|on Endowment|funds|||Sfovement|In funds|||||Movemsnt|In frmds|||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||Balance 1||||Gafns/||Balance 31||||Gains/||Balance 31| |||||||January|Income|Expenditure|Transfers|(losses)|on|December|Income|Expenditure|Transfers|Posses)|on|December| |||||||2019||||revalusdon||2019||||revaluation||2020| |||||||||E|f|5||||||6||| ||Permanent|endowment||||||||||||||||| ||furlds|||||||||||||||||| ||E A Beynon|Fund||||151,357||||(3,153)||148,204||||||175,138| ||Birchington|Convalescent||||||||||||||||| ||Benefit Fund|||||61,572||||4,080||65,652||||4,960||70,612| ||Brighton
Emmanuel|||||266,943||||(8,362)||258,581||||54,|191|312,772| ||Oeen Wacs|Memorial||||836,860||||10,936||847,796||||86.020||933,816| ||Gloucester|Msnnem|Church|||1,000||||||1,000||||||1,000| ||Leemlngton|Spa,||||||||||||||||| ||Christchurch|||||58,797||||1,935||60,T32||||7,324||| ||Maidstone,|St Faith|Parish|||||||||||||||| ||Room|||||179,T11||||(4,405)||175,308||||33,585||208,891| ||Old
Hill Hall|||||1,000||||||1,000||||||1,000| ||Walthamstow,
Penrhyn|||Hall||||||||||||||| ||Trust|||||1,000||||||1,000||||||1,000| |||||||1,558,240||||1,031||1,559,271||||213,014||1,772,285| ||Expendable|sndownmnt||||||||||||||||| ||funds|||||||||||||||||| ||Ughtbowne|Evangelical||||||||||||||||| ||Church,
Manchester|||||1,000||||||1,000||||||1,000| ||Gloucester|Mariners|Hall|||1,000||||||1,000||||||1,000| ||St Andrews,|Montserrat||||1,000||||||1,000||||||1;000| ||Ousseldorf|Chaplaincy||||2,290|||||(39)|2,251|||||292|2,543| ||Gloucester|Mariners||||||||||||||||| ||Residence|||||41,672||(19,026)|||920|23,566||||||23,566| ||Paddock
Wood Parochial|||||||||||||||||| ||Church
Hall|Trust||||25,000||||||25,000||||||25,000| ||Wigan Recreation
Ground|||||1,000||||||1,000||||||1,000| |||||||72,962||(i9,026)|||881|54,817|||||292|55,109| |||||||1,631,202||(19,026)||1,912||1,614,088||||213,306||1,827,394| ## |15|Movement|on Restricted|on Restricted|on Restricted|funda||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||Movemerd||in funds|||||ltbvement||in hinds|||I| |||||||||Ba/ance 1
January
2019|||Expendfture|Transfers||Gains/
(losses) ori
revalueu'on||Balance 31
December
2019||Expenctiture|Transfers
'||Gains/
(lenses) on
revaluadon||Balance 31
December
2020| |||||||||||||E||E||E|||E||E||E| ||Amalg. Ord.||and Training||Fund|||827,875||44,137|(15,992)|(30,420)||(34,042)||791,558|51,051|(15,756)|(27,159)||||887,918| ||Birchington||Convalescent||Fund||||(110)|1,058|||(754)|||194|1,885|||(441)|||1,638| ||Brighton
Errmanuel|||Trust|||||10,839|13,744|(3,843)||(7,012)|||13,728|13,786|(4,171)||(6,232)|||17,111| ||Du as e id orf||||||||460||||(14)|||446|69||||||515| ||Gloucester,||Mariners|Hall|||||228|||||||228|||||||228| ||Gloucester|Mariners||Residence|||Fund||971|371|(974)||(498)|||(130)|21|(21)|||||(130)| ||JAEC|||||||||3,552|(6,332)||2,780||||||||||| ||Leansngton||Spa, Christchurch|||Fund||||949|||(684)|||1,270||||(396)|||2,813| ||Maidstona,|St Faith||Parish Room Fund|||||5,873|9,161|(2,425)||(5,701)|||6,908|9,107|(2,637)||(5,191)|||8,187| ||Paddock
Wood Parochial||||Church||Hall||||||||||||||||| ||Trust Fund|||||||192,388||8,792|(23,446)||(3,127)|14,439||187,046|2,285|(24,383)||(2,338)|14,288||176,898| ||Ryde Ecclesiastical|||Charily|||||25,013|224|||(240)|||25,531|175|(13)||(93l|1,139||26,739| ||The Prisciga||Fund|||||||4,395|||(4,395)||||||||||| ||Walthamstow,
Penrhyn
Hali Trust fund||||||||6,296||||(93)||987|7,380|196|||(79)||421|7,918| ||Wahhamslow,||St John Fund||||||4,340|131|||(65)||678|5,084|134|||54)||308|5,472| |||||||||1,075,178|||(53,012)|(50,223)||(17,404)||1,039,243|80,648|[46,981)|(41.983)||104,380||1,135,307| |16|Movement
on unrestricted|Movement
on unrestricted|funds|||||| |---|---|---|---|---|---|---|---|---| ||||||Movement
in funds|||| ||||Balance 1
January 2020|Income|Expenditure|Transfers|Gains/
(losses) on
revaluati on|Balance 31
December 2020| ||||||||f|| ||General|Fund|289,008|131,444|(214,666)|41,983|51,674|299,443| ||Dean Wace Income||21,231|20,450|(2,933)|||38,748| ||||310,239|151,894|(217,599)|41,983|51,674|338,191| ||||||Movement
in funds|||| ||||Balance 1
January 2019|Income|Expenditure|Transfers|Gains/
(losses) o.
revaluation|D,cemb,r 2019| ||||||||f|f| ||General|Fund|313,665|191,074|(221,412)|50,223|(44,542)|289,008| ||Dean Wace Income||7,698|16,297|(2,764)|||21,231| ||||321,363|207,371|(224,176)|50,223|(44,542)|310,239| |17|Net assets held by funds|||||||| |||||||Balance 31|December 2020|| ||||||Unrestricted
fundsf|Restricted
funds
f|Endowment
funds
f|Total funds| ||Tangible|fixed assets|||383,480||320,209|703,689| ||Fixed asset investments||||172,080|1,033,628|1,479,607|2,685,315| ||Net current assets||||208,201|101,679|27,578|337,458| ||Long Term Liabilities||||(421,570)|||(421,570)| ||Provision|for liabilities|||(4,000)|||(4,000)| ||||||338,191|1,135,307|1,827,394|3,300,892| |||||||Balance 31|December 2019|| ||||||Unrestricted|Restricted|Endowment|| ||||||fundsf|funds
f|funds
f|Total funds| ||Tangible|fixed assets|||347,375||290,846|638,221| ||Fixed asset investments||||126,236|929,247|1,295,664|2,351,147| ||Net current ass'ets||||272,564|109,996|27,578|410,138| ||Long Term Liabilities||||(429,936)|||(429,936)| ||Provision|for liabilities|||(6,000)|||(6,000)| ||||||310,239|1,039,243|1,614,088|2,963,570| ## ## ## ## ## ## ## ## ## ## |ficit recovery con|tributions
(as a percentage|ofpensionable
stipends)
are as set ou|t in the table below.| |---|---|---|---| |%ofpensionable|stipends|January 2018to|January
2021 to| |||December 2020|December 2022| |Deficit repair contributions||11.9%|7.1%| |||||2020|2019| |---|---|---|---|---|---| |Balance sheet liability at|1 January|||6,000|19,000| |Deficit contribution
paid||||(3,000)|(3,000)| |Interest cost (recognised|in SoFA)|||0|0| |Remaining
change to the|balance sheet liability|(recognised|in SoFA)|1,000|(10,000)| |Balance sheet liability at|31 December|||4,000|6,000| ## |||December 2020|December 2019|December 2018| |---|---|---|---|---| |Discount rate||0.2% pa|1,1%pa|2.1%pa| |Price infla'tion||3.1%pa|2.8% pa|3.1%pa| |Increase to total pensionable|payroll|1.6% pa|1.3%pa|1.6%pa| ## ## ## ## ## ##