2021-03-31-accounts - Kingsway Clc Trust

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					Page
Reference and administrative	details
Report ofthe trustees				2	to	4
Report ofthe independent auditors				5	to	7
Consolidated statement offinancial		activities
Consolidated balance sheet
Company balance sheet					10
Consolidated cash flow statement
Notes to the consolidated cash	flow statement				12
Notes to the consolidated financial statements				13	to	24
Consolidated detailed statement	offinancial		activities	25	to	26

					Year ended	Period	I June
					31 March	2019to 31
					2021	March	2020
			Unrestricted	Restricted
			funds	fund	Total funds	Total	funds
		Notes
INCOMING RESOURCES	AND
ENDOWMENTS
Donations and legacies			46,436	1,075	47,511	3,187,653
Charitable activities
SaleofChristian Literature			4,168,280		4,168v280	3,345,636
Investment income			81,110		81,110		42,237
Other income			173491		173,591
Total incoming resources			4,469,417	1,075	4,470,492	6,575,526
RESOURCES EXPENDED
Raising funds		6	29,978		29,978		19,441
Charitable activities
SaleofBibles and Christian	Literature	7	4,435402		4,435402	3,669,087
Direct grant support				1,101	1,101		1,596
Total resources expended			4,465,180	1,101	4,466481	3,690,124
NEI' (OUTGOING)/INCOMING
RESOURCES			4437	(26)	4,211	2,885,402
RECONCILIATION OFFUNDS
Total funds brought forward			2,905,861	140	2,906,001		20,599
TOTAL FUNDS CARRIED	FORWARD		2,910,098	114	2,910412	2,906,001

					2021	2020
		Unrestricted
		Funds	Restmcted	Fund	Total funds	Total t'unds
	Notes
FKKD ASSEfS
Tangible assets	14	(,744428			1,744,328	1,745,153
CURRENT ASSEfS
Stocks	16	1,896,948			1,896,948	1,234.766
Debtom	17	389423			389423	498,707
Cash at bank		84,972		114	85,086	208.865
		2471443		114	2371457	1,942,338
CREDITORS
Amounts falling due within one year	18	(1,159,640)			(1,159,640)	(751,490)
NEI' CURRENT ASSETS		1411,603		114	1411,717	1,190,848
TOTAL ASSEfS LESS CURRENT
LIABILITIES		2,955,931		114	2,956,045	2,936,001
CREDITORS
Amounts falling due aller more than
one year		(45,833)			(45,833)	(30.000)
NET ASSEfS		2,910,098		114	2,910412	2,906.001
FUNDS	21
Unrestricted funds					2,910,098	2,905,861
Restricted funds
Justice and Mercy					114	140
TOTAL FUNDS					2,910,212	2,906,001

		2021	2020
		I'nrestricted	Total
		fund	funds
	Notes
FIXEDASSETS
Tangible assets investments	14 15	1,744,328 2	1,745,I53 2
		1,744,330	1,7-15,155
CURREiVT ASSETS
Stocks Debtors Cash at bank and in hand	16 17	1,892,820 388,991 77,188	1,230,638 498,340 199,570
		2,358,999	1,928,548
CREDITORS
Amounts falling due within one year	18	(1,158,203)	(750,050)
NET CURRENT ASSETS		1,200,796	1,178,498
TOTAL ASSETS LESSCURREiVT
LIABILITIES		2,945,126	2,923,653
CREDITORS
Amounts falling due after more than one year	19	(45,833)	(30,000)
tVET ASSETS		2,899,293	2,893,653
FUNDS
Unrestricted funds		2,899,293	2,89o,65o
TOTAL FUNDS		2,899,293	2,893,653

						Period	IJune
					Year ended 31	2019to 31
					March 2021	March 2020
				Notes
Cas h flons from operating	activities
Cash generated from operations					(131,403)		195,164
Net cash (used in)/provided	by operating		activities		(131,403)		195,164
Cash flous from investing	activities
Purchase oftangible fixed	assets				(42376)
Net cash used in investing	activities				(42376)
Cash flons from financing	activities
New loans in year					50,000
Net cash provided by financing activities					50,000
Change in cash and cash equivalents reporting period		in the			(123,779)		195,164
Cash and cash equivalents reporting period	atthe begisning		ofthe		208,865	4,356,241
Cash and cash equivalents reporting period	atthe end	ofthe			85,086		208,865

RECONCILIATION	OF NE	I' INCOME TO NEI' CASH FLOW FR	OM OPERATING AC	TIVITIES
				Penod I June
			Year ceded 31	2019to 31
			March 2021	March 2020
Net income for the reporting financial activities)		period (as per the Statement of	4411	2,885,402
Adjustments for:
Depmciation charges			43401	27,658
Donations received	in kind		(35,611)	(2,860,715)
Decrease/(increase)	in stocks		(626471)	92,615
Decrease/(increase)	in debtors		109384	(35,541)
Increase in creditors			373883	85,745
Net cash (used in)/provided		by operations	(131,403)	195,164

		At 1.4.20	Cash flow	At31.3.21
Net cash
Cash at bank		2082165	(123,779)	85,086
		2083)65	(123,779)	85,086
Debt
Debts falling due within	Iyear		(34,167)	(34,167)
Debts falling due afler 1year		(30,000)	(15,833)	(45,833)
		178,865	61 3,»97	5,1186

						2021		2020
	Donations					11,900		7,529
	Donated foods, faculties and services							775
	Exceptional item (see note 12)					35,611		3,179,349
						47,511		3,187,653
3.	INVESTMENT	INCOME
						2021		2020
						8
	Rents and service	charges received				81,106		42,230
	Deposit account interest					4		7
						81,110		42,237
	INCOME FROM CHARITABLE ACTIVITIES
							2021	2020
			Activity					5
	Wholesale sales		Sales ofBibles and Christian		Literature		37074468	2,862,226
	Mission worship	conference	Sales ofBibles and Christian		Literature		4,456	29,274
	Hand in Hand conference		Sales ofBibles and Christian		Literature			13,999
	Online sales		Sales ofBibles and Christian		Literature		1,087,869	434,564
	Royalties income		Sales ofBibles and Christian		Literature		5,210	4,242
	Sales ofChristian	literature	Sales ofBibles and Christian		Literature			1,184
	Distribution costs	charged	Sales ofBibles and Christian		Literature				147
							4,168,280	3,345,636
5.	OTHER INCOME
							2021	2020
	Government Grants —Coronavirus Job Retention			Scheme			173,591
							173,591

Raising	donations
		2021	2020
		8
Raising	Funds	29,978	19,441

CHARITABLE ACTIVIT	IES COSTS
			Grant
			funding of
		Direct costs	activities	Support costs	Totals
				(Seenote 8)
Sale ofBibles and Christian	Literature	3,950,191	g	485,011	g 4,435,202
Direct grant support			1,101		1,101
		3,950,191	1,101	485,011	4,436,303

		Year Ended		Period 1.6.19
		31.3.2	I	to31.3.20
		Sales ofBibles
		and Christian		Total activities
		Literature
Rent, rates	&utilities	29,987		46,216
Telephone		11,298		11,007
Repairs		13,703		4,756
Insurance		13,932		15,084
Cleaning Travel &motor expenses		8,445 7,439		5,779 33,548
Event costs		360		2,564
Advertising	&promotion	27,377		17,803
Printing &	stationery	3,971		5,126
Subscription	and donations	3,704		2,043
Credit card	charges	7,068		3,870
Training costs		1,789		1,288
Computer licencing &maintenance		49,924		32,895
Equipment	maintenance	3,455		2,833
Welfare expenses		3,158		3,710
International	office field contribution	15,241		9,915
Bank charges		23.333		10,004
Sundry		1,831		6,37
Management Depreciation Gain on the	recharges -CLC UK oftangible fixed assets sale oftangible fixed assets	(16,353) 43,200	(81,377) 27,658 ~46))
		252,862		160,628

Governan	ce costs
			Year Ended	Period 1.6.19to
			31.3.21	31.3.20
Salaries			209,752	157,356
Auditors'	remuneration		19,250	8,160
Legal and professional Conferences &trustee		fees meetings	3,644 ~4977	34,992 2,623
			232,149	203,131

			Year Ended	Period 1.6.19
			31.3.21	to31.3.20
Auditors'	remuneration		19,250	8,160
Depreciation		- owned assets	43,201	27,658

STAFF COSTS
	2021	2020
Employment costs
Wages and salaries	745,468	556,159
Social security costs	62,013	44,170
Other pension costs	21,025	16,029
	828,5II6	676.258

The	avera	ge	month	ly number ofemployees during t	he year was as follows:
						Period
						1.6.19
					Year Ended	to
					31.3.21	31.3.20
Full	time	and	part	time	39	44

		Unrestricted	Restricted	Total funds
		funds	fund
	Notes
INCOMING RESOURCES	AND
ENDOWMENTS
Donations and legacies		3,186,533	1,120	3,187,653
Charitable activities
SaleofChristian Literature		3445,636		3445,636
Investment income		42437		42,237
Total incoming resources		6,574,406	1,120	6,575426
RESOURCES EXPENDED
Raising funds		19,441		19,441
Charitable activities
SaleofBibles and Christian	Literature	3,669,087		3,669,087
Direct grant support			1,596	1,596
Total resources expended		3,688,528	1,596	3,690,124
NEI' INCOMING/(0 UI'GOING)
RESOURCES		2,885,878	(476)	2,885,402
RECONCILIATION OFFUNDS
Total funds brought forward		19,983	616	20,599
TOTAL FUNDS CARRIED	FORWARD	2,905,861	140	2,906,001

TANGIBLE FIXEDASSETS —Group an	d Company
		Improvements
	Freehold	to	Plant and
	property	property	machinery
	f.
COST
At 1 April 2020 Additions	1,407,176	216,419 ~36880	22,706
At 31 March 2021	1,407,176	~253299	22,706
DEPRECIATION
At I April 2020		6,200	10,857
Charge for year		12,399	3,781
At 31 March 2021		18,599	14,638
NET BOOK VALUE
At 31 March 2021	1,407,176	234,700	8,068
At 31 March 2020	1,407,176	210,219	11,849
	Fixtures
	arid	Computer
	fittings	equipment	Totals
	6
COST
At 1 April 2020	113,366	24,689	1,784456
Additions		5,496	42,376
At 31 March 2021	113466	30,185	1,826,732
DEPRECIATION
At I April 2020	9,856	12,290	39,203
Charge for year	19,408	7,613	43,201
At 31March 2021	29,264	19,903	82,404
NET BOOK VALUE
At 31March 2021	84,102	10,282	1,744,328
At 31 March 2020	103,510	12,399	1,745,153

	Group		Company
	2021	2020	2021	2020
	8		8
Trade debtors	367,613	407,157	367,635	407,146
Prepayments	11,689	86,242	11,689	85,886
Other debtors	10,021	3388	9667	5308
	389423	498,707	388,991	498,340

			Group		Company
			2021	2020	2021	2020
			6
Bank loans (see note 19)			4,167		4,167
Other	loans (see note 19)		30,000		30,000
Trade	creditors		854,973	676,316	854,973	676,316
Social	security	and other taxes	15,672	15,057	15,672	15,057
Sundry	creditors and accruals		254,828	60 117	253491	58677
			1,159,640	751,490	1,158403	750,050

	Company
		2021	2020
	Bank loans (see note 20)	45,033
	Other loans (see note 20)		30,000
		45,833	30,000
20.	LOANS
	An analysis ofthe maturity ofloans is given below:
		2021	2020
	Amounts falling due within one year on demand:
	Bank loans	4,167
	Other loans	~30000
		34,167
	Amounts falling between one and two years:
	Bank loans - 1-2years	10,000
	Amounts falling due between two and five years:
	Bank loans - 2-5 years	35,033
	Amounts falling due in more than five years;
	Repayable otherwise than by instalments:
	Other loans more 5yrs non-inst		30,000

				Net movement
			At 1.4.20	in funds	At 31.3.21
Unrestricted funds
General fund			2,905,861	4437	2,910,098
Restricted funds
Justice and Mercy			140	(26)	114
TOTAL FUNDS			2,906,001	44(I	2,910,212
Net movement in funds, included		in the above	are as follows:
			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted funds
General fund			4,469,417	(4,465,180)	4437
Restricted funds
Justice and Mercy			1,075	(1,101)	(26)
TOTAL FUNDS
Comparatives for momment	in funds
				Net movement
			At 1.6.19	in funds	At 31.3.20
Unrestricted funds
General fund			19,983	2,885,878	2,905,861
Restricted funds
Justice and Mercy			616	(476)	140
TOTALFUNDS			20,599	2,085,4112,9116,1101
Comparative net movement	in funds, included		in the above are as	follows:
			Incoming	Resources	Movement
			resources	expended	in funds
Unrestricted funds
General fund			6874,406	(3,688,528)	2,885,878
Restricted fiunds
Justice and Mercy			1,120	(1,596)	(476)
TOTAL FUNDS			6,575,526	~3,691512~	2,885, 02