2020-12-31-accounts - Agape Ministries Ltd

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1	Reference and Administrative	Reference and Administrative	Reference and Administrative	Details	Details	..................3	..................3	..................3
2	Report of the trustees.
	2.1	Structure and Governance. .
	2.2	Objectives and activities. .
	2.3	Achievements &Performance.
	2.4	Plans .... ... ....... ... . . .					,	.1S
	2.5	Financial Review.						.19
	2.6	Independent auditor's report to the members		of Agape Ministries			Limited	21
3	Financial Review 2020.							25
	3.1	Statement of Financial Activities	for 12 months		ended	31 December		2020
	(Incorporating an income and expenditure		account).					.25
	3.2	Balance Sheet.						.26
	3.3	Statement of Cash Flows. ...........................................						. .27
	3.4	Notes to financial statements .....					.....28

	2	020 (In	corporati	ng an inco	me and ex	penditure	account)
			Further Details	Unrestricted Funds	Restricted Funds	Total 2020	Unrestricted Funds	Restricted Funds	Total 2019
						6	6	E	6
Income and endowments
from:
Donations and Legacies				3,623,450	28,081	3,651,531	3,798,940	15,160	3,814,100
Charitable Activities				1,525		1,525	40,760		40,760
Other Trading Activities				12,480		12,480	17,484		17,484
Investments				4,618		4,618	4,792		4,792
Total Incoming	Resources			3.642,073	28,081	3,670,154	3,861,976	15,160	3,877,136
Expenditure on:
Raising funds				87,714	979	88,693	184,566		184,566
Charitable activities				3,496,103	15,857	3,511,960	3,564,746	14,136	3,578,882
Other				15,009	6,718	21,727	38,134	6,718	44,852
Total				3,598,826	23,554	3,622,380	3,787,446	20,854	3,808,300
Net gains/(losses) on				2,347		2,347	5,055		5,055
investments			12
Net income/(expenditure)				45,594	4,527	50,121	79,585	-5,694	73,891
Transfers between	funds		17
Net movement in	funds			45,594	4,527	50,121	79,585	-5,694	73,891
Fund balances brought		forward		1,429,698	336,817	1,766,515	1,350,113	342,511	1,692,624
at beginning of year
Fund balances carried		forward		1,475,292	341,344	1,816,636	1,429,698	336,817	1,766,515
at end ofyear

			Notes	December	December
				2020	2019
				E	E
FIXEDASSETS
Intangible assets			10	97,426	95,545
Tangible assets			11	630,363	640,210
				727,789	735,755
CURRENT ASSETS
Investments			12	66,983	64,636
Stocks			13	4,788	8,374
Debtors			14	75,980	109,332
Cash at bank	and in hand			1,033,930	943,370
				1,181,681	1,125,712
CREDITORS	- AMOUNTS	FALLING DUE
WITHIN ONE YEAR			15	(92,834)	(94,952)
NET CURRENT ASSETS				1,088,847	1,030,760
NET ASSETS				1,816,636	1,766,515
Unrestricted	funds		18	1,475,292	1,429,698
Restricted funds			19	341,344	336,817
				1,816,636	1,766,515

					2020	funds	2019	funds	Note
					6		6
Cash flows from operating		activities:			153,085		198,362		20
Cash flows from investing		activities:
Investments						4,618		4,792
Purchase of property,	plant	and equipment			(67,144)		(88,227)
Change in cash and	cash equivalents		in the		90,559		114,927
reporting period
Cash and cash equivalents		at the beginning		of	943,370		828,500		21
the reporting period
Change in cash and	cash equivalents		due to					(57)
exchange rate movements
Cash and cash equivalents		at the end	ofthe
reporting period					1,033,930		943,370		21

Ac!ape Illiustl
Freehold land	0%	per annum
Freehold property	2%	per annum
Computer equipment	33 1/3%	per annum
Office equipment	33 1/3%	per annum
Motor vehicle	33 1/3%	per annum

2.	Incoming
		2020	2019
UK		2,171,487	2,326,116
Rest ofthe	World	1,498,667	1,551,020
Total		3,670,154	3,877,136

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6.	Net	Incoming	Resources for the Year	Resources for the Year	Resources for the Year
				2020	2019
The surplus is	stated	after charging:
Staff costs (note	8)			1,840,956	1,891,355
Depreciation of	intangible and tangible		fixed assets	75,109	55,565
Hire ofequipment - operation leases				3,976	5,376
Rent and Rates				7,689	7,571
Auditors remuneration		- for audit		9,250	8,950

	Salaries from designated	Salaries from designated	Salaries	from	general
	funds			funds
	2020	2019	2020		2019	2020	2019
		6	6		6	6	6
Salaries	1,518,149	1,564,611	127,026		113,645	1,645,174	1,678,256
Social Security	133,962	153,349	9,913		8,792	143,875	162,141
Costs
Employer Pension	47,751	48,034	4,156		2,924	51,907	50,958
Contributions
	1,699,862	1,765,994	141,095	125,361		1,840,956	1,891,355


		Number	FTE	Number	FTE
SUPPORTED AGAPE WORKERS
Management		7	6.8	4	4
Administration		10	7.9	11	8.5
Field		35	30.5	38	33.5
Overseas		11	11.0	13	11.4
		63	56.2	66	57.4
SALARIED FROM GENERAL FUNDS
Administration		7	5.9	8	6.4
		70	62.1	74	63.8
Foreign workers	in UK	24	22.8	25	23.75
TOTALWORKERS		94	84.9	99	87.55

		Toucan	Website	Total
		App
COST
At lstlanuary 2020		194,379	27,718	222,097
Additions		49,730	9,669	59,399
Disposals
At 31st December	2020	244,109	37,387	281,496
ACCUMULATED	DEPRECIATION
At tstlanuary 2020		126,552		126,552
Charge for the year		45,056	12,462	57,518
Disposals
At 31st December	2020	171,608	12,462	184,070
NET BOOK VALUES
At 31st December	2020	72,501	24,925	97,426
At 31st December	2019	67,827	27,718	95,545
Depreciation rates		33.33%	33.33%

		Freehold	Freehold	Fixtures		Total
		Land	Property	fittings &
				equipment
COST
At 1stJanuary 2020		125,000	588,220	151,582		864,802
Additions				9,315		9,315
Disposals				1,570	-	1,570
At 31st December	2020	125,000	588,220	159,327		872,547
ACCUMULATED	DEPRECIATION
At 1stJanuary 2020			82,574	142,019		224,593
Charge for the year			11,764	5,827		17,591
Disposals
At 31st December	2020		94,338	147,846		242,184
NET BOOK VALUES
At 31st December	2020	125,000	493,882	11,481		630,363
At 31st December	2019	125,000	505,646	9,564		640,210
Depreciation rates		0.00%	2.00%	33.33%

12. C	urrent Asset Inve	stments
		2020
Market value at31"December 2019		64,636
Gains on disposal
Unrealised gain		2,347
Net gains/(Lossesj	for year	2,347
Market value at	31stDecember 2020	66,983

		Stock
			2020	2019
Goods	for	resale	4,788	8,374

14.	Debtors
		2020	2019
		6	E
DUE WITHIN ONE YEAR
Trade debtors		0	2,476
Tax due as Gift	Aid	10,539	24,698
Other Debtors		20,589	18,826
Other Campus	Crusade Debtors	27,081	39,981
Prepayments		17,096	22,863
Accrued income		0	0
Pensions		448	0
VAT		227	488
TOTAL DEBTORS		75,980	109,332
15.	Creditors
		2020	2019
		E
DUE WITHIN ONE YEAR
Trade creditors		9,541	22,333
Other taxation	and Social Security costs	39,850	38,248
Pensions		0	10,864
Accruals		10,418	11,606
Deferred inconte		28,200	7,226
Other Canspus	Crusade Creditors	3,306	4,035
Other Current	Liabilities	1,519	640
TOTAL CREDITORS		92,834	94,952

	17. Analysis of F	unds
		General	Designated	Restricted
		funds	funds	funds	Total
Balances	at 1stJanuary 2020	200,943	1,228,755	336,817	1,766,515
Surplus	for the year	[5,293)	50,887	4,527	50,121
Transfers
Balances at 31stDecember 2020		195,650	1,279,642	341,344	1,816,636

				Unrealised
		Balance at1st	Netlncoming	Gains on		Balance at31st
		Janua 2020	resources	Investments	Transfers	December 2020
						6
Designated	Staff	628,323	59,150			687,473
Designated	Student	24,853	7,842			32,695
Designated	Non-Campus	133,653	(39,768)			93,885
Designated	Projects and
Events			64,195			64,195
Designated	Urgent Needs
Fund		20,053	3,296			23,349
Designated	International
Mission Projects		10,401	2,539			12,940
Designated	Funds for other
CCC		52,145	(35,540)			16,605
Designated	(Fund Based)
Total		869,428	61,714			931,142
Designated	Premises Fund	255,271	(5,046)			250,225
Designated	Equipment Fund	6,228	(1,392)			4,836
Designated	Toucan Fund	67,828	4,673			72,501
Designated	Website Fund	30,000	(9,062)			20,938
Designated	(Asset Based)
Total		359,327	10,827			348,500
General Funds		200,943	7,640	2,347		195,650
UNRESTRICTED FUNDS		1,429,698	43,247	2,347		1,476,292

	19.	Restricted
			Property	Funds raised	Total
			Fund	for
				international
				development
				projects
Balance at 1st	January	2020	324,126	12,691	336,817
Net Incoming	resources		[6,718J	11,245	4,527
Transfers
Balance at 31stDecember 2020			317,408	23,936	341,344

			2020	2019
				f.
Net income/(expenditure) for the reporting (as per the statement offinancial activities)		period	50,121	73,891
Adjustments for:
Interest Receivable			(4,618)	(4,792)
Depreciation charges			75,109	72,187
(Gains)/losses on investments			(2,347)	(5,055)
Loss/(profit) on the	sale offixed assets
(increase)/decrease	in stocks		3,586	5,800
(increase)/decrease	m debtors		33,352	80,625
increase/(decrease)	in creditors		(2,118)	(24,295)
Net cash provided activities	by (used in) operating		153,085	198,361

Analysis of cash a	nd cash equiv	alents
	2020	2019
Cash in hand	235	122
Notice deposits (less than 3 months)	421,802	337,874
Notice deposits (greater than 3 months)	611,893	605,374
Total cash and cash e uivalents	1,033,930	943,370

		Land 8t Buildings	Land 8t Buildings	Other
		2020	2019	2020	2019
Amounts	payable on leases which expire:
Within one year				3,976	3,976
Within two to five years				5,714	9,690
				9,690	13,666

23.	Analysis of Net A	ssets between	ssets between	funds
		Unrestricted		funds
		General	Designated		Restricted	Total
		funds		funds	funds
Fund balances	at 31 December 2020
are represented	by:
Fixed assets		61,881		348,500	317,408	727,789
Net Current Assets		133,769		931,142	23,936	1,088,847
Balance at 31"December 2020		195,650		1,279,642	341,344	1,816,636