## **The Sovereign Grace Advent Testimony** ## **Registered Charity No 261489** ## **Trustees Report for the Year 2020** The Sovereign Grace Advent Testimony was formed in 1918 for the purpose of the promotion and diffusion of the Christian faith, being the doctrine of God’s sovereign grace in the matter of man’s salvation and the truth of the second advent of the Lord Jesus Christ. To fulfil the aims of the Testimony during 2019, regular monthly meetings have been held, but due to the lockdown, apart from the first two months of the year, we have been unable to have the meetings in London as usual. But the regular meetings. Including Spring and Autumn conferences, have been broadcast by means of Zoom, enabling friends all over the world to join with us. A conference was held in Northern Ireland during the first week in March., There have been a variety of speakers at these meetings. Additionally, various items of literature have been circulated. Each quarter, 3000 copies of the magazine of the Sovereign Grace Advent Testimony, entitled ‘Watching and Waiting’ have been printed and distributed throughout various parts of the world. Although a subscription of £5.00 is suggested, many persons receive the magazine and other literature free of charge, as our purpose is to circulate knowledge of the truth. Some other items of literature have been produced. The trustees of the Testimony for 2020 were Rev John Douglas, Rev Ivan Foster, Pastor Martin Humphrey, Mr Ian Shaw and Mr Stephen A Toms. Those serving on the Council of the Testimony during 2020 were Mr Peter Fleming, Pastor Martin Humphrey, Rev Brian McClung, Rev David McMillan, Rev Richard Monteith, Mr Andrew Toms, Mr Paul Toms, and Mr Stephen A Toms. The work of trustees and committee members is carried out voluntarily. No trustee or committee member receives any remuneration at all, nor even an honorarium, for serving as trustee or committee member. Expense are paid to some when they address meetings. ## **The Sovereign Grace Advent Testimony** ## **Registered Charity No 261489** ## **Details of Trustees:** |Rev John Douglas|||Date of| |---|---|---|---| |Birth: 18/06/1933|||| |40 Lombard Avenue, Lisburn, Co Antrim,|||BT28 2UP| |028 925 88375|||| |Rev Thomas James Ivan Foster|||Date of| |Birth: 08/11/1943|||| |17 Old Junction Road, Kilskeery, Co Tyrone,|||BT78 3RN| |028 895 61564|||| |Pastor Martin Leslie Humphrey|||Date of| |Birth: 19.05.1964|||| |6 Georgia Road, Thornton Heath, Surrey,|||CR7 8DQ| |0208 6791262|||| |Mr Ian Shaw|||Date of| |Birth: 27/01/1954|||| |47 St Margarets Park, Whitehills, Forfar, Angus, DD8 3EB|||| |01307 464876|||| |Mr Stephen Albert Toms|||Date of| |Birth: 08/10/1930|||| |1
Donald|Way,
Chelmsford,|Essex,|CM2
9JB| |01245 268815|||| ( **All British** – Messrs Humphrey and Toms are English, Mr Shaw, Scottish and Messrs Douglas and Foster, Northern Irish). **------------------------------------------------------------** ## **Details of Committee Members:** Mr Peter Fleming Date of Birth: 28.12.1967 9 Clements Road, Chorleywood, Herts, WD3 5JS 01923 282898 |Pastor Martin Humphrey|||||Date of| |---|---|---|---|---|---| |Birth: 19.05.1064|||||| |6 Georgia Road, Thornton||Heath, Surrey, CR7 8DQ|||| |0208 6791262|||||| |Rev Brian McClung|||||Date of| |Birth: 28.05.1969|||||| |8a Boltnaconnell Road, Nuts Corner, Crumlin, Co|||||Antrim,| |028 9082 5162|||||| |BT29 4SZ|||||| |Rev David McMillan|||||Date of| |Birth:18.11.1965|||||| |1
Drumanmore|Grange,|Armagh,||BT61|8RQ| |028 778 8150|||||| |Rev Richard Monteith|||||Date of| |Birth: 26.02.1969|||||| |26 Ffordd
Las, Abertrldwr,|||Caerphilly,|CF83|4EW| |029 208 30206|||||| |Mr Andrew Peter Toms|||||Date of| |Birth: 20.07.1955|||||| |1
Larch
Grove,|Chelmsford,||Essex,|CM2|9LX| |01245 359721|||||| |Mr Paul Timothy Toms|||||Date of| |Birth: 20.02.1961|||||| |52
Heath
Drive,|Chelmsford,||Essex,|CM2|9HE,| |01245 351225|||||| |Mr Stephen Albert Toms|||||Date| |of Birth: 8:10:30|||||| |1
Donald
Way,|Chelmsford,||Essex,|CM2|9JB| |01245 268815|||||| SOVEREIGN GRACE ADVENT TESTIMONY FINANCIAL STATEMENTS 31 DECEMBER 2020 Charity Commission Registered No. 261489 Secretary: Stephen A Toms 1 Donald Way Chelmsford Essex CM2 9JB Trustees: John Douglas Ivan Foster Martin L Humphrey Ian Shaw Stephen A Toms ## CONTENTS Page - 1 STATEMENT OF FINANCIAL ACTIVITIES - 2 BALANCE SHEET - 3, 4 NOTES ON THE FINANCIAL STATEMENTS - 5 REPORT OF THE INDEPENDENT EXAMINER ## SOVEREIGN GRACE ADVENT TESTIMONY ## STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 DECEMBER 2020 GENERAL FUND - UNRESTRICTED |2020
£
£
INCOME
Donations, subscriptions and
sales of literature
7,408
Rents receivable
12,227
Income Tax recoverable
120
Oferings at meetings
1,324
Income from investments:
Dividends and interest
7,120
Deposit account interest
353
28,552
EXPENDITURE
Stocks, 1 January 2020
6,712
Production of publications and
literature purchases
2,330
9,042
Less: stocks, 31 December 2020
5,130
3,912
“Watching and Waiting” Printing
3,237
Rates, light and heat
3,246
Repairs and maintenance
3,826
Insurance
373
Expenses of meetings & travelling
925
Printing, postage, advertising, stationery
and telecommunications
6,258
Independent examiner’s fee
725
Council members’ expenses
-
Website, audio & video expenses
301
Sundries
-
Depreciation of ofice & IT equipment130
22,933
EXCESS OFINCOME OVEREXPENDITURE
FOR THEYEAR|£
8,405
8,964
120
3,093
9,239
801
11,467
1,497
12,964
6,712
6,252
2,724
3,773
3,409
211
1,615
4,846
695
186
1,573
198|2019
£
30,622
904
26,386
5,619
4,236| |---|---|---| Page 1 BALANCE AT 31 DECEMBER 2019 brought forward 1,267,481 1,263,245 BALANCE AT 31 DECEMBER 2020 carried forward £1,273,100 £1,267,481 ## SOVEREIGN GRACE ADVENT TESTIMONY ## BALANCE SHEET - 31 DECEMBER 2020 |||2020|2020||2019| |---|---|---|---|---|---| ||£||£|£|£| |FIXEDASSETS(see page 3)|||||| |Freehold property at cost|748,439|||748,439|| |Ofice & IT equipment at net book value||265||395|| |||748,704|||748,834| |INVESTMENTS|||||| |Quoted, as per schedule on page 3|(at cost)|96,902|||95,559| |CURRENTASSETS|||||| |Stocks & work in progress|5,130|||6,712|| |Prepaid expenses|474||||-| |Income Tax recoverable|120|||115|| |Bank balances|||||| |Current account|21,494|||16,362|| |Deposit account|401,025|||400,672|| ||428,243|||423,861|| |Less CURRENTLIABILITIES|||||| |Creditors|749|||773|| |NETCURRENTASSETS||427,494|||| |423,088|||||| |NETASSETS||£1,273,100|||| |£1,267,481|||||| |Financed by:|||||| |ACCUMULATEDFUND|||||| |1 January 2020||1,267,481|||1,263,245| |Excess of income over expenditure|||||| |for year||||5,619|| |||||4,236|| |31 December 2020||£1,273,100|||| |£1,267,481|||||| Page 2 …………………………………….. S A TOMS (Secretary) Approved 17 February 2021 Page 3 ## SOVEREIGN GRACE ADVENT TESTIMONY ## NOTES ON THE FINANCIAL STATEMENTS – 31 DECEMBER 2020 ## 1. FIXED ASSETS |FIXEDASSETS|||| |---|---|---|---| |**Freehold property, at cost**
Unit 33, Church Road Industrial Estate, East Hanningfeld
47,769
4 Dorset Avenue, Chelmsford
204, Gloucester Avenue, Chelmsford
Net book value, 31 December 2020
**Ofice & IT equipment**
Net book value, 1 January 2020
Depreciation for the year
Net book value, 31 December 2020|£
406,254
294,416||| ||
£748,439||| |||395
130
£ 265|395
130| ## 2. INVESTMENTS The investments are all quoted investments and are shown at cost, or as valued when bequeathed to the Sovereign Grace Advent Testimony ||2020|2020||2019|2019| |---|---|---|---|---|---| ||C
ost|V
aluation||C
ost|Valuation| ||£|£||£|£| |Barclays UK Alpha Fund|||||| |Class A Inc shares 38,107 Units|27,311|125,678||27,311|144,122| |Equities Investment Fund for Charities|||||| |(“Charifund”) 5,599 Units|20,550|76,850||20,550|92,982| |Allianz Risk Master Moderate Fund C|||||| |Accumulation 93,564.16 shares|49,041|158,058||47,698|151,733| ||£ 96,902|£360,586|£|95,559|£388,837| ## 3. STOCKS No value has been placed on stocks of books and publications purchased prior to 1 January 2016. Stocks of books and publications purchased between 1 January 2016 and 31 December 2016 are valued at 20% of cost. Stocks of books and publications purchased during the year 2017 are valued at 60% of cost. Stocks of books and publications purchased during the years 20182020, and remaining unsold at 31 December 2020, are valued at cost, or at nil if normally given away. |£|2020
5,130|£|2019
6,712| |---|---|---|---| Page 4 Page 5 ## SOVEREIGN GRACE ADVENT TESTIMONY ## NOTES ON THE FINANCIAL STATEMENTS – 31 DECEMBER 2020 4. CHARITY COMMISSION DISCLOSURE REQUIREMENTS - (a) The **financial statements** have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” published in March 2005 and applicable accounting standards. - (b)A fee of £725 is provided in the accounts for the **independent examiner** . - (c) **No grants** were made during the year. - (d) The Trust has no paid **employees** . - (e)Seven council members received payments totalling £765 for addressing public meetings on behalf of the charity during the year. |(f)**Debtors and prepayments**
Insurances prepaid
Income Tax recoverable|474
120
£ 594|474
120| |---|---|---| - (g)There were no **creditors or accruals** at 31 December 2020 apart from the independent examiner’s fee of £725, and electricity costs of £24. - (h)All **funds** are unrestricted. There are no endowment or restricted funds. - (i) The Trust has no material commitments not provided for in the accounts. It has given no guarantees to third parties, nor granted loans of any kind that remain outstanding at the year end. No ex gratia payments were made in the year. - (j) All the financial activities, assets and liabilities of the Trust have been included. There has been no change in the year end date. All the Trust’s operations are continuing; none were discontinued or acquired in the year. No funds are in deficit. The Trust has no inalienable or historic assets at 31 December 2020, no intangible assets, no subsidiary companies, and no material fixed assets that have not been capitalised and included on the balance sheet. - (k) **Accounting policies** . Donations, legacies and similar incoming resources are included in the SOFA (Statement of Financial Activities) when actually received. Incoming resources from tax claims are included in the SOFA at the same time as the income to which they relate. Page 6 The value of any voluntary help is not included in the accounts. Page 7 ## INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SOVEREIGN GRACE ADVENT TESTIMONY I report on the financial statements for the year ended 31 December 2020, set out on pages one to four. ## **Respective responsibilities of trustees and examiner** The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: - Examine the accounts under Section 145 of the 2011 Act - - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and - - to state whether particular matters have come to my attention. ## **Basis of independent examiner’s report** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statements below. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 130 of the - 2011 Act; and - to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. Page 8 B R Campen 1 Ruthven Close Cuckfield HAYWARDS HEATH RH17 5HE 16 February 2021 Page 9 SOVEREIGN GRACE ADVENT TESTIMONY FINANCIAL STATEMENTS 31 DECEMBER 2020 Charity Commission Registered No. 261489 Secretary: Stephen A Toms 1 Donald Way Chelmsford Essex CM2 9JB Trustees: John Douglas Ivan Foster Martin L Humphrey Ian Shaw Stephen A Toms ## CONTENTS Page - 1 STATEMENT OF FINANCIAL ACTIVITIES - 2 BALANCE SHEET - 3, 4 NOTES ON THE FINANCIAL STATEMENTS - 5 REPORT OF THE INDEPENDENT EXAMINER ## SOVEREIGN GRACE ADVENT TESTIMONY ## STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 DECEMBER 2020 GENERAL FUND - UNRESTRICTED |2020
£
£
INCOME
Donations, subscriptions and
sales of literature
7,408
Rents receivable
12,227
Income Tax recoverable
120
Oferings at meetings
1,324
Income from investments:
Dividends and interest
7,120
Deposit account interest
353
28,552
EXPENDITURE
Stocks, 1 January 2020
6,712
Production of publications and
literature purchases
2,330
9,042
Less: stocks, 31 December 2020
5,130
3,912
“Watching and Waiting” Printing
3,237
Rates, light and heat
3,246
Repairs and maintenance
3,826
Insurance
373
Expenses of meetings & travelling
925
Printing, postage, advertising, stationery
and telecommunications
6,258
Independent examiner’s fee
725
Council members’ expenses
-
Website, audio & video expenses
301
Sundries
-
Depreciation of ofice & IT equipment130
22,933
EXCESS OFINCOME OVEREXPENDITURE
FOR THEYEAR|£
8,405
8,964
120
3,093
9,239
801
11,467
1,497
12,964
6,712
6,252
2,724
3,773
3,409
211
1,615
4,846
695
186
1,573
198|2019
£
30,622
904
26,386
5,619
4,236| |---|---|---| Page 1 BALANCE AT 31 DECEMBER 2019 brought forward 1,267,481 1,263,245 BALANCE AT 31 DECEMBER 2020 carried forward £1,273,100 £1,267,481 ## SOVEREIGN GRACE ADVENT TESTIMONY ## BALANCE SHEET - 31 DECEMBER 2020 |||2020|2020||2019| |---|---|---|---|---|---| ||£||£|£|£| |FIXEDASSETS(see page 3)|||||| |Freehold property at cost|748,439|||748,439|| |Ofice & IT equipment at net book value||265||395|| |||748,704|||748,834| |INVESTMENTS|||||| |Quoted, as per schedule on page 3|(at cost)|96,902|||95,559| |CURRENTASSETS|||||| |Stocks & work in progress|5,130|||6,712|| |Prepaid expenses|474||||-| |Income Tax recoverable|120|||115|| |Bank balances|||||| |Current account|21,494|||16,362|| |Deposit account|401,025|||400,672|| ||428,243|||423,861|| |Less CURRENTLIABILITIES|||||| |Creditors|749|||773|| |NETCURRENTASSETS||427,494|||| |423,088|||||| |NETASSETS||£1,273,100|||| |£1,267,481|||||| |Financed by:|||||| |ACCUMULATEDFUND|||||| |1 January 2020||1,267,481|||1,263,245| |Excess of income over expenditure|||||| |for year||||5,619|| |||||4,236|| |31 December 2020||£1,273,100|||| |£1,267,481|||||| Page 2 …………………………………….. S A TOMS (Secretary) Approved 17 February 2021 Page 3 ## SOVEREIGN GRACE ADVENT TESTIMONY ## NOTES ON THE FINANCIAL STATEMENTS – 31 DECEMBER 2020 ## 1. FIXED ASSETS |FIXEDASSETS|||| |---|---|---|---| |**Freehold property, at cost**
Unit 33, Church Road Industrial Estate, East Hanningfeld
47,769
4 Dorset Avenue, Chelmsford
204, Gloucester Avenue, Chelmsford
Net book value, 31 December 2020
**Ofice & IT equipment**
Net book value, 1 January 2020
Depreciation for the year
Net book value, 31 December 2020|£
406,254
294,416||| ||
£748,439||| |||395
130
£ 265|395
130| ## 2. INVESTMENTS The investments are all quoted investments and are shown at cost, or as valued when bequeathed to the Sovereign Grace Advent Testimony ||2020|2020||2019|2019| |---|---|---|---|---|---| ||C
ost|V
aluation||C
ost|Valuation| ||£|£||£|£| |Barclays UK Alpha Fund|||||| |Class A Inc shares 38,107 Units|27,311|125,678||27,311|144,122| |Equities Investment Fund for Charities|||||| |(“Charifund”) 5,599 Units|20,550|76,850||20,550|92,982| |Allianz Risk Master Moderate Fund C|||||| |Accumulation 93,564.16 shares|49,041|158,058||47,698|151,733| ||£ 96,902|£360,586|£|95,559|£388,837| ## 3. STOCKS No value has been placed on stocks of books and publications purchased prior to 1 January 2016. Stocks of books and publications purchased between 1 January 2016 and 31 December 2016 are valued at 20% of cost. Stocks of books and publications purchased during the year 2017 are valued at 60% of cost. Stocks of books and publications purchased during the years 20182020, and remaining unsold at 31 December 2020, are valued at cost, or at nil if normally given away. |£|2020
5,130|£|2019
6,712| |---|---|---|---| Page 4 Page 5 ## SOVEREIGN GRACE ADVENT TESTIMONY ## NOTES ON THE FINANCIAL STATEMENTS – 31 DECEMBER 2020 4. CHARITY COMMISSION DISCLOSURE REQUIREMENTS - (a) The **financial statements** have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” published in March 2005 and applicable accounting standards. - (b)A fee of £725 is provided in the accounts for the **independent examiner** . - (c) **No grants** were made during the year. - (d) The Trust has no paid **employees** . - (e)Seven council members received payments totalling £765 for addressing public meetings on behalf of the charity during the year. |(f)**Debtors and prepayments**
Insurances prepaid
Income Tax recoverable|474
120
£ 594|474
120| |---|---|---| - (g)There were no **creditors or accruals** at 31 December 2020 apart from the independent examiner’s fee of £725, and electricity costs of £24. - (h)All **funds** are unrestricted. There are no endowment or restricted funds. - (i) The Trust has no material commitments not provided for in the accounts. It has given no guarantees to third parties, nor granted loans of any kind that remain outstanding at the year end. No ex gratia payments were made in the year. - (j) All the financial activities, assets and liabilities of the Trust have been included. There has been no change in the year end date. All the Trust’s operations are continuing; none were discontinued or acquired in the year. No funds are in deficit. The Trust has no inalienable or historic assets at 31 December 2020, no intangible assets, no subsidiary companies, and no material fixed assets that have not been capitalised and included on the balance sheet. - (k) **Accounting policies** . Donations, legacies and similar incoming resources are included in the SOFA (Statement of Financial Activities) when actually received. Incoming resources from tax claims are included in the SOFA at the same time as the income to which they relate. Page 6 The value of any voluntary help is not included in the accounts. Page 7 ## INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SOVEREIGN GRACE ADVENT TESTIMONY I report on the financial statements for the year ended 31 December 2020, set out on pages one to four. ## **Respective responsibilities of trustees and examiner** The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to: - Examine the accounts under Section 145 of the 2011 Act - - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and - - to state whether particular matters have come to my attention. ## **Basis of independent examiner’s report** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statements below. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect the requirements - to keep accounting records in accordance with section 130 of the - 2011 Act; and - to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. Page 8 B R Campen 1 Ruthven Close Cuckfield HAYWARDS HEATH RH17 5HE 16 February 2021 Page 9