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|---|---|---|---|---|---|---|
|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|
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||||||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|
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|||||||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|and|legacies|||
|---|---|---|---|---|---|
|||||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|
##
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##
##
##
||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|
##
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