| Page | ||||
|---|---|---|---|---|
| Reference and administrative | details ofthe company, | its Trustees and advisers | 1-2 | |
| Trustees' report |
3-15 | |||
| Independent auditors' |
report | on the financial statements | 16-19 | |
| Statement offinancial | activities | 20 | ||
| Balance sheet | 21 -22 | |||
| Statement ofcash flows | 23 | |||
| Notes to the financial | statements | 24-49 |
| REFERENCE AND ADMINISTRATIVE DETAILS |
REFERENCE AND ADMINISTRATIVE DETAILS |
REFERENCE AND ADMINISTRATIVE DETAILS |
REFERENCE AND ADMINISTRATIVE DETAILS |
OF | THE | THE | COMPANY, ITSTRUSTEES AND ADVISERS | COMPANY, ITSTRUSTEES AND ADVISERS |
|---|---|---|---|---|---|---|---|---|
| FOR THE | YEAR ENDED | 31 DECEMBER 2021 | ||||||
| Trustees | Revd Ruth Whitehead, | Chairman | ||||||
| Mr lan Harrison, Trust |
Secretary | |||||||
| Mrs Janet Raven (appointed | 9 | September 2021) | ||||||
| Mr Neil Thorogood (appointed |
9 | September 2021) | ||||||
| Revd Christopher Baillie (Resigned 11 November 2021) |
||||||||
| Revd Richard Gray, Treasurer | ||||||||
| Mrs Jill Stidson (Term | ended | 20 | May 2021) | |||||
| Revd Donald Macalister | ||||||||
| Revd Lythan Nevard (Resigned |
24 June 2021) | |||||||
| Mrs Maria Mills (Term | ended | 11 | November 2021) | |||||
| Revd Robert Western | (appointed | 1 April 2022) | ||||||
| Revd Sarah Simpson | (appointed | 15May 2022) | ||||||
| Mrs Gwen Jennings (appointed |
24 Jurie 2022) | |||||||
| Company | registered | |||||||
| number | 01328728 | |||||||
| Charity registered | ||||||||
| number | 275364 | |||||||
| Registered | office | Taunton United Reformed |
Church | |||||
| 18 Paul Street | ||||||||
| Taunton | ||||||||
| Somerset | ||||||||
| TA1 3PF | ||||||||
| Company | secretary | Mr lan Harrison | ||||||
| Chairman | Revd Ruth Whitehead | |||||||
| Independent | auditors | Bishop Fleming LLP |
||||||
| Chartered Accountants |
||||||||
| 2nd Floor Stratus House | ||||||||
| Emperor Way | ||||||||
| Exeter Business Park | ||||||||
| Exeter | ||||||||
| EX1 3QS | ||||||||
| Bankers | Lloyds Bank PLC | |||||||
| 2 Palace Avenue | ||||||||
| Paignton | ||||||||
| Devon | ||||||||
| CAF Bank Ltd | ||||||||
| 25 Kings Hill Avenue |
||||||||
| West Mailing | ||||||||
| Kent |
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Note | 2021 f |
2021 f. |
2021 | 2020 E |
||
| Income from: | ||||||
| Donations and legacies |
32,034 | 108,825 | 140,859 | 253,894 | ||
| Charitable activities: |
||||||
| Funds arising from closed |
Churches | 1,187,392 | 1,187,392 | 137,268 | ||
| Other charitable activities |
1,821 | 1,821 | 1,355 | |||
| Investments | 50,443 | 324,420 | 374,863 | 349,385 | ||
| Other income | 14,466 | 14,466 | 6,891 | |||
| Total income | 82,477 | 1,636,924 | 1,719,401 | 748,793 | ||
| Expenditure on: |
||||||
| Raising funds | 2,187 | 14,608 | 16,795 | 6,065 | ||
| Charitable activities |
1,790 | 3,660,542 | 3,662,332 | 559,375 | ||
| Total expenditure | 3,977 | 3,675,150 | 3,679,127 | 565,440 | ||
| Net income/(expenditure) | before net | |||||
| gains on investments | 78,500 | (2,038,226) | (1,959,726) | 183,353 | ||
| Net gains on investments | 295,436 | 1,492,032 | 1,787,468 | 770,104 | ||
| Net income/(expenditure) | 373,936 | (546,194) | (172,258) | 953,457 | ||
| Transfers between funds |
21 | (7&,500) | 78,500 | |||
| Net movement in funds |
295,436 | (467,694) | (172,258) | 953,457 | ||
| Reconciliation offunds: |
||||||
| Total funds brought forward |
1,928,344 | 15,314,780 | 17,243,124 | 16,289,667 | ||
| Net movement in funds |
295,436 | (467,694) | (172,258) | 953,457 | ||
| Total funds carried forward | 2,223,780 | 14,847,086 | 17,070,866 | 17,243,124 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | F | |||||||
| Fixed assets | ||||||||
| Tangible assets | 14 | 2,571,811 | 2,738,630 | |||||
| Investments | 16 | 13,168,718 | 11,153,705 | |||||
| Investment property |
15 | 3,548,444 | 2,837,081 | |||||
| 19,288,973 | 16,729,416 | |||||||
| Current assets | ||||||||
| Debtors | 17 | 20,517 | 11,424 | |||||
| Cash at bank and | in hand | 977,932 | 922,126 | |||||
| 998„449 | 933,550 | |||||||
| Creditors: amounts | falling due within one | |||||||
| year | 18 | (784,118) | (238,883) | |||||
| NET CURRENT ASSETSILIABILITIES | 214,331 | 694,667 | ||||||
| Total assets less | current liabilities | 19,503,304 | 17,424,083 | |||||
| Creditors: amounts | falling due after more | |||||||
| than one year | 19 | (2,432,438) | (180,959) | |||||
| NET ASSETS | 17,070,866 | 17,243,124 | ||||||
| Total net assets | 17,070,866 | 17,243,124 | ||||||
| Charity funds | ||||||||
| Restricted funds: |
||||||||
| Restricted funds |
21 | 1,033,403 | 1,033,404 | |||||
| Restricted revaluation |
reserve | 21 | 1,190,377 | 894,940 | ||||
| Total restricted funds |
21 | 2,223,780 | 1,928,344 | |||||
| Unrestricted funds |
||||||||
| General funds | 21 | 10,179,640 | 12,101,512 | |||||
| Unrestricted revaluation |
reserve | 21 | 4,667,446 | 3,213,268 | ||||
| Total unrestricted | funds | 21 | 14,847,086 | 15,314,780 | ||||
| Total funds | 17,070,866 | 17,243,124 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Cash flows from operating activities |
|||||
| Net cash | used in operating activities (see note 23) |
(371,495) | (295,341) | ||
| Cash flows from investing activities |
|||||
| Dividends, interests and rents from investments |
374,863 | 349,385 | |||
| Purchase | of tangible fixed assets |
(99,558) | (298,692) | ||
| Proceeds | from sale of investments | 699,523 | 1,246,291 | ||
| Purchase | of investments | (547,527) | (891,975) | ||
| Net cash | provided by investing activities |
427,301 | 405,009 | ||
| Cash flows from financing activities |
|||||
| Net cash | provided by financing activities |
||||
| Change | in cash and cash equivalents | in the year | 55,806 | 109,668 | |
| Cash and | cash equivalents at the beginning |
ofthe year | 922,126 | 812,458 | |
| CASH AND CASH EQUIVALENTS AT | THE END OF THE YEAR (SEENOTE 24) | 977„932 | 922,126 |
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2021 | 2021 | 2021 | 2020 | ||
| f. | |||||
| Donations | - Property | 105,825 | 105,825 | 240,000 | |
| Legacies | 3,000 | 3,000 | |||
| Grants | 32,034 | 32,034 | 13,894 | ||
| 32,034 | 108,825 | 140,859 | 253,894 | ||
| TOTAL 2020 | 13,894 | 240,000 | 253,894 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021f | 2021 | 2020 | ||
| Funds arising | from Closed Churches | 1,187,392 | 1,187,392 | 137,268 |
| Loan interest | 721 | 721 | 1,355 | |
| Training and |
conference receipts | 1,100 | 1,100 | |
| TOTAL 2021 | 1,189,213 | 1,189,213 | 138,623 | |
| TOTAL 2020 | 138,623 | 138,623 |
| Funds | arisin | g | from closed Churches comprise: | ||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| F | F | ||||
| Capital | funds | - | Property | 1,166,700 | 120,000 |
| Other | funds | 20,692 | 17,268 | ||
| 1,187,392 | 137,268 |
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2021 | 2021 | 2021 | 2020 | ||
| E | |||||
| Rental income from investment | properties | 7,140 | 48,230 | 55,370 | 57,220 |
| Income from listed stock exchange | |||||
| investments | 43,298 | 276,153 | 319,451 | 290,902 | |
| Bank interest | 5 | 37 | 42 | 1,263 | |
| TOTAL 2021 | 50,443 | 324,420 | 374,863 | 349,385 | |
| TOTAL 2020 | 49,364 | 300,021 | 349,385 |
| Sundry | income |
|---|---|
| TOTAL | 2020 |
| Unrestricted | Total | Total |
|---|---|---|
| funds | funds | funds |
| 2021 | 2021 | 2020 |
| 14,466 | 14,466 | 6,891 |
| 6,891 | 6,891 |
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2021 | 2021 | 2021 | 2020 | |||
| E | ||||||
| Investment | management | fees | 2,187 | 14,608 | 16,795 | 6,065 |
| TOTAL 2020 | 6,065 | 6,065 |
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2021 f |
2021 | 2021 | 2020 E |
||
| Charitable | activities | 1,790 | 3,660,542 | 3,662,332 | 559,375 |
| TOTAL 2020 | 11,686 | 547,689 | 559,375 |
| Total | Total | |||||
|---|---|---|---|---|---|---|
| Staff costs | Depreciation | Other costs | funds | funds | ||
| 2021 | 2021 | 2021f | 2021 | 2020 F |
||
| Direct and | support costs | |||||
| excluding | governance | 261,212 | 5,473 | 3,395,647 | 3,662,332 | 559,375 |
| TOTAL 2020 | 235,638 | 5,673 | 318,064 | 559,375 |
| Activities | Grant | |||||
|---|---|---|---|---|---|---|
| undertaken | funding of |
Support | Total | Total | ||
| directly | activities | costs | funds | funds | ||
| 2021 | 2021 | 2021f | 2021 | 2020 | ||
| Charitable | activities | 166,247 | 3,240,929 | 255,156 | 3,662,332 | 559,375 |
| TOTAL 2020 | 159,784 | 193,690 | 205,901 | 559,375 |
| Total | Total | |||||
|---|---|---|---|---|---|---|
| Activities | funds | funds | ||||
| 2021f | 2021 E |
2020 F |
||||
| Staff costs | 88,155 | 88,155 | 98,952 | |||
| Training and |
Conferences | 12,249 | 12,249 | 13,915 | ||
| Church Support | 3,137 | 3137 | 3,334 | |||
| Pulpit supply | relief | 90 | ||||
| Safeguarding | 20,393 | 20,393 | ||||
| Miscellaneous | direct costs including | youth activities and MMF | 1,732 | |||
| Pioneer special | category minister | 4,183 | 4,183 | |||
| Other special | category ministers | 3,278 | 3,278 | 4,749 | ||
| Synod Pastoral | Advisors | 36,444 | 36,444 | 19,386 | ||
| Property expenses | (1,592) | (1,592) | 17,626 | |||
| 166,247 | 166,247 | 159,784 | ||||
| TOTAL 2020 | 159,784 | 159,784 |
| Total | Total | ||||||
|---|---|---|---|---|---|---|---|
| Activities | funds | funds | |||||
| 2021 | 2021 | 2020 | |||||
| F | F | ||||||
| Staff costs | 173,057 | 173,057 | 136,686 | ||||
| Depreciation | and Impairment | 5,473 | 5,473 | 5,673 | |||
| Synod Activities | 1,614 | 1,614 | 6,661 | ||||
| Synod office | parking | 7,000 | 7,000 | 6,880 | |||
| Staff expenses and training |
14,977 | 14,977 | 5,402 | ||||
| Printing Stationery |
and postage | 5,094 | 5,094 | 5,298 | |||
| Utilities/sundries | 4,237 | 4,237 | 3,725 | ||||
| Synod office | expenses | 10,273 | 10,273 | 9,517 | |||
| Property expenses | 18,320 | 18,320 | 15,778 | ||||
| Governance | costs | including | auditors | remuneration | 15,111 | 15,111 | 10,281 |
| 255,156 | 255,156 | 205,901 | |||||
| TOTAL 2020 | 205,901 | 205,901 |
| 2021 | 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| F | |||||||||
| Depreciation | oftangible | fixed | assets | - owned | by | the | charity | 5,473 | 5,674 |
| Grants to | Total | Total | ||
|---|---|---|---|---|
| Institutions | funds | funds | ||
| 2021 | 2021 | 2020 | ||
| F | F | |||
| Institutional | grants | 3,240,929 | 3,240,929 | 193,690 |
| 2021 | 2020 | ||
|---|---|---|---|
| E | |||
| Grants to institutions | other than Churches | 3,044,695 | 86,260 |
| Enabling grants |
100,049 | 126,034 | |
| Mission grants | 27 123 | (17,693) | |
| Property grants: | |||
| - Survey grants | 4,065 | 3,197 | |
| - Facelift grants | 48,229 | (10,013) | |
| - Building grants | 14,978 | (1,740) | |
| - Feasibility grants | 5,885 | ||
| Other grants | 1,790 | 1,760 | |
| 3,240,929 | 193,690 | ||
| 3,240,929 | 193,690 |
| Included within |
Institutio | nal |
and Enabling grants are the |
following amounts ofF10,000 |
or more: | |
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Inter Synod Resource sharing | 35,000 | 25,000 | ||||
| Retired Ministers | Pension | Fund | 3,000,000 | 15,670 | ||
| Exeter University | Free Church | Chaplaincy | 35,000 | |||
| Bridgwater | 15,818 | |||||
| Taunton workwise |
15,000 | |||||
| Zion Grampton | Cottrell | 20,000 | ||||
| Derriford | 12,000 | |||||
| Flavel projects | 12,793 | |||||
| Flavel ministry | 65,000 | |||||
| Teignmouth | 31,500 | |||||
| Newton Abbot |
10,000 | |||||
| 3,117,111 | 175,670 |
| Include | d |
within Mission grants are the following |
amounts off10,000or more: |
|
|---|---|---|---|---|
| 2021 | 2020 | |||
| Emmanuel | Swindon | 10,170 | ||
| Pilgrim | Plymouth | 15,625 | ||
| 25,795 |
| Included | w | ithin F |
acelift grants are the following a |
mounts off10,000or more: |
|
|---|---|---|---|---|---|
| 2021f | 2020 | ||||
| Axminster | |||||
| Bideford | Lavington | 10,000 | |||
| Glastonbury | 10,000 | ||||
| Emmanuel | Hayden | Wick | 10,000 | ||
| Korean Church | 10,000 | ||||
| Lynton | 10,000 | ||||
| Redland | Park | 10,000 | |||
| 30,000 | 30,000 |
| 2021 | 2020 | |
|---|---|---|
| Barnstaple | 11,238 | |
| 11,238 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| F | |||||
| Wages and | salaries | 247,253 | 212,177 | ||
| Social security costs | 15,821 | 13,182 | |||
| Contribution | to defined | contribution | pension schemes | 37,888 | 34,414 |
| 300,962 | 259,773 |
| 2021 | 2020 |
|---|---|
| No. | No. |
| 14 | 12 |
| Long-term | ||||||
|---|---|---|---|---|---|---|
| Freehold | leasehold | Office | Computer | |||
| property f |
property | f | equipment | equipment | Total | |
| COST | ||||||
| At 1 January 2021 | 2,455,395 | 412,910 | 1,980 | 15,874 | 2,886,159 | |
| Additions | 99,558 | 99,558 | ||||
| Transfers between classes |
150,606 | (412,910) | (262,304) | |||
| At 31 December 2021 | 2,705,559 | 1,980 | 15,874 | 2,723,413 | ||
| DEPRECIATION | ||||||
| At 1 January 2021 | 141,914 | &00 | 1,287 | 3,528 | 147,529 | |
| Charge for the year | 1,550 | 396 | 3,527 | 5,473 | ||
| Transfers between classes |
(600) | (800) | (1,400) | |||
| At 31 December 2021 | 142,864 | 1,683 | 7,055 | 151,602 | ||
| NET BOOK VALUE | ||||||
| At 31 December 2021 | 2,562,695 | 297 | 8,819 | 2,571,811 | ||
| At 31 December 2020 | 2,313,481 | 412,110 | 693 | 12,346 | 2,738,630 |
| VALUATION |
|---|
| At 1 January 2021 |
| Additions |
| Disposals |
| Surplus on revaluation |
| Transfers between classes |
| At 31 December 2021 |
| Listed | |||
|---|---|---|---|
| investmentsf | Loans | Total | |
| COST OR VALUATION | |||
| At 1 January 2021 | 10,967,463 | 186,242 | 11,153,705 |
| Additions | 317,961 | 228 845 | 546 806 |
| Disposals | (148,902) | (148,902) | |
| Revaluations | 1,617,109 | 1,617,109 | |
| AT 31 DECEMBER 2021 | 12,902,533 | 266,185 | 13,168,718 |
| NET BOOK VALUE | |||
| AT 31 DECEMBER 2021 | 12,902,533 | 266,185 | 13,168,718 |
| AT 31 DECEMBER 2020 | 10,967,463 | 186,242 | 11,153,705 |
| 2021 | 2020 | ||
|---|---|---|---|
| E | |||
| DUE WITHIN | ONE YEAR | ||
| Other debtors | 8,311 | 4,541 | |
| Prepayments | and accrued income | 12,206 | 6,883 |
| 20,517 | 11,424 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| E | ||||
| Mission and enabling | grants | 14,747 | 20,341 | |
| Other committed | grants | 760,071 | 210,542 | |
| Accruals | 9,300 | 8,000 | ||
| 784,118 | 238,883 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Mission | and | other | committed | grants | 2,432,438 | 180,959 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| E | ||||
| FINANCIAL ASSETS | ||||
| Financial assets measured | at fair value through | income and expenditure | 14,146,650 | 12,075,831 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | 31 | |||||
| January | Transfers | Gains/ | December | |||
| 2021 | Income | Expenditure | in/out | (Losses) | 2021 | |
| E | ||||||
| UNREST'D | ||||||
| FUNDS | ||||||
| Fixed asset fund | 2,738,630 | 30,620 | (5,473) | (191,966) | 2,571,811 | |
| Loans funds | 186,242 | 721 | 79,222 | 266,185 | ||
| Investment | ||||||
| property | 2,487,080 | 830,721 | (289,716) | 138,859 | 3,166,944 | |
| Investment | ||||||
| stocks and | ||||||
| shares | 7,800,000 | 7,800,000 | ||||
| Taunton fund |
4,088 | 4,088 | ||||
| Free reserves | 2,098,740 | 774,862 | (3,669,677) | 480,960 | 1,353,173 | 1,038,058 |
| 15,314,780 | 1,636,924 | (3,675,150) | 78,500 | 1,492,032 | 14,847,086 | |
| RESTRICT'D | ||||||
| FUNDS | ||||||
| General purpose | ||||||
| fund | 1,778,593 | 50,443 | (3,977) | (78,500) | 277,758 | 2,024,317 |
| Closed church | ||||||
| fund | 130,849 | 17,678 | 148,527 | |||
| DFES fund | 925 | 925 | ||||
| Training fund |
||||||
| and grants | 7,436 | 21,749 | 29,185 | |||
| Other small | ||||||
| restricted | ||||||
| grants received | 10,541 | 10,285 | 20,826 | |||
| 1,928,344 | 82,477 | (3,977) | (78,500) | 295,436 | 2,223,780 | |
| TOTAL OF | ||||||
| FUNDS | 17,243,124 | 1,719,401 | (3,679,127) | 1,787,468 | 17,070,866 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at | 31 | |||||
| 1 January | Transfers | Gains/ | December | |||
| 2020 | Income | Expenditure | in/out | (Losses) | 2020 | |
| F | E | F | F | |||
| UNREST'D | ||||||
| FUNDS | ||||||
| Fixed asset fund | 2,445,611 | (5,674) | 298,693 | 2,738,630 | ||
| Loans funds | 13,113 | 1,355 | 171,774 | 186,242 | ||
| Investment | ||||||
| property | 3,501,389 | 120,000 | (1,108,700) | (25,609) | 2,487,080 | |
| Investment | ||||||
| stocks and | ||||||
| shares | 7,800,000 | 7,800,000 | ||||
| Taunton fund |
4,088 | 4,088 | ||||
| Free reserves | 621,789 | 564,180 | (548,080) | 689,805 | 771,046 | 2,098,740 |
| 14,385,990 | 685,535 | (553,754) | 51,572 | 745,437 | 15,314,780 | |
| RESTRICT'D | ||||||
| FUNDS | ||||||
| General purpose | ||||||
| fund | 1,767,298 | 49,364 | (3,382) | (51,572) | 16,885 | 1,778,593 |
| Closed church | ||||||
| fund | 123,067 | 7,782 | 130,849 | |||
| DFES fund | 1,035 | (110) | 925 | |||
| Training fund |
||||||
| and grants | 1,736 | 5,700 | 7,436 | |||
| Other small | ||||||
| restricted | ||||||
| grants received | 10,541 | 8,194 | (8,194) | 10,541 | ||
| 1,903,677 | 63,258 | (11,686) | (51,572) | 24,667 | 1,928,344 | |
| TOTAL OF | ||||||
| FUNDS | 16,289,667 | 748,793 | (565,440) | 770,104 | 17,243,124 |
| ANALYSIS O | F NET ASSETS BETWEEN FUNDS | -CURRENT YEAR | ||
|---|---|---|---|---|
| Restricted | Unrestricted | Total | ||
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| Tangible fixed | assets | 2,571,811 | 2,571,811 | |
| Fixed asset investments | 2,030,087 | 11,138,631 | 13,168,718 | |
| Investment property |
381,500 | 3,166,944 | 3,548,444 | |
| Current assets | 998,449 | 998,449 | ||
| Creditors due | within one year | (187,807) | (596,311) | (784,118) |
| Creditors due | in more than one year | (2,432,438) | (2,432,438) | |
| TOTAL | 2,223,780 | 14,847,086 | 17,070,866 |
| Restricted | Unrestricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2020 | 2020 | 2020 | ||
| F | E | |||
| Tangible fixed assets | 2,738,630 | 2,738,630 | ||
| Fixed asset investments | 1,766,150 | 9,387,555 | 11,153,705 | |
| Investment | property | 350,000 | 2,487,081 | 2,837,081 |
| Current assets | 933,550 | 933,550 | ||
| Creditors | due within one year | (187,806) | (51,077) | (238,883) |
| Creditors | due in more than one year | (180,959) | (180,959) | |
| TOTAL | 1,928,344 | 15,314,780 | 17,243,124 |
| 2021 | 2020 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| E | E | |||||||||||
| Net income/expenditure for |
the | year | (as | per | Statement | of | Financial | |||||
| Activities) | (172,258) | 953,457 | ||||||||||
| ADJUSTMENTS FOR: | ||||||||||||
| Depreciation and impairment |
charges | 5,473 | 5,674 | |||||||||
| Non cash donations and capital |
funds | (1,166,700) | (120,002) | |||||||||
| Losses on investments | (1,756,847) | (837,010) | ||||||||||
| Dividends, interests and rents |
from | investments | (374,863) | (349,385) | ||||||||
| Loss/(gain) on the sale of fixed |
assets | (30,621) | 65,551 | |||||||||
| Non cash donations and capital |
funds converted | to | cash | 336,700 | ||||||||
| Decrease/(increase) in debtors |
(9,093) | 13,378 | ||||||||||
| Increase/(decrease) in creditors |
2,796,714 | (27,004) | ||||||||||
| NET CASH USED IN OPERATING | ACTIVITIES | (371,495) | (295,341) | |||||||||
| 24. | ANALYSIS OF CASH AND CASH | EQUIVALENTS | ||||||||||
| 2021 | 2020 | |||||||||||
| Cash in hand |
977,932 | 922,126 | ||||||||||
| TOTAL CASH AND CASH EQUIVALENTS | 977,932 | 922,126 | ||||||||||
| 25. | ANALYSIS OF CHANGES IN |
NET | FUNDS | |||||||||
| At 1 | At 31 | |||||||||||
| January | December | |||||||||||
| 2021 | Cash flows | 2021 | ||||||||||
| f | E | |||||||||||
| Cash at bank and in hand |
922,126 | 55,806 | 977,932 | |||||||||
| 922,126 | 55,806 | 977,932 |
| 2021f | 2020 E |
||
|---|---|---|---|
| Capital | funds | 394,647 | 435,491 |
| Income | funds | 117,729 | 86,659 |
| Invested | funds | 522,151 | 522,151 |
| 1,034,527 | 1,044,301 |