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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||
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||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|
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##
|Ac!ape Illiustl|Ias I ill iltc'CI|||Coinpiiiiy|
|---|---|---|---|---|
|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||
##
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##
|2.|Incoming|Resources|||
|---|---|---|---|---|
||||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|
||||||||||O|||||||
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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||Total||
|---|---|---|---|---|---|---|---|---|
||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|
||||2020|||2019||
|---|---|---|---|---|---|---|---|
|||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|Funds||||
|---|---|---|---|---|---|---|
|||||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|
##