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2020-12-31-accounts

Page
Report ofthe Trustees I to 6
Report ofthe Independent Auditors 7to 8
Statement ofFinancial Activities
Balance Sheet 10to 11
Statement ofCash Flows 12
Notes to the Financial Statements 13to 26

Unrestricted Funds 31.12.20 31.12.19
General Purposes Designated Restricted Total Total
Funds Funds Funds Funds Funds
f f f
INCOME AND ENDOWMENTS i Notes
income from Investments 2a 264,160 262,664 10,933 537,757 827.441
Income from charitable activities
Donations
and Legacies		 2a 128,496 12,500 791 141,787 31.644
Other Income 2a 45 45 3,358
Total operating
income		 392,656 275,209 11,724 679,589 862,443
Income on sale ofproperties 2a 116,000 3,332,000 3,448,000 2,160,000
Protit/(Loss)
on sale ofproperties		 2a 101,000 101,000
Total Income and Endowments 2a 609,656 3607209 11,724 4,228,589 3 022 443
KXPKNDITLtRK
Expenditure
on Charitable		 Activities 2b 563,110 1,279,237 42,515 I,SS4,S62 2,636,558
Total operating
expenditure		 2b 563,110 1,279,237 42,515 1,8$4,862 2,636,558
Payment
to Inter-Synod
Resource Sharing 25,000 25,000 25,000
Purchase ofMenses 670,000 670,000 2,400,000
Total Expenditure 588,110 1,949,237 42/15 2,579,862 5,061,558
Net Expenditure
on		 2b (170,454) (1,004,028) (30,791) (1,205,273) (1,774,115)
0 pe rating .Account
Net Income/(Expenditure) 21,546 1,657,972 (30,791) 1,648,727 (2,039,115)
Transfers
behveen
Funds		 8 999,998 (999,99$)
Other Recognised
Gains/(Losses)
Net (Losses)/Gains
on Investments		 7 (966,156) (639,427) (27,416) (1,632,999) 2,365,793
Net movement
in funds		 55,388 18,547 (58,207) IS,728 326,678
Total funds brought
forward		 10,383,460 I3,067,67$ 933,211 24,384,349 24,057,671
Total funds carried forward

Unrestricted Funds 31.12.20 31.12.19
General Purposes Designated Restricted Total Total
Funds Funds Funds Funds Funds
f f
Notes
FIXEDASSETS
Tangible assets 9 229,421 74,721 88,285 392,427 565,322
Investments 10 10,832,999 11,234, 146 459,291 22&526&436 24.072.920
Social Investments ll 64,050 64,050 16,900
11,126,470 11,308,867 547,576 22,982,913 24.655,142
CURRENT ASSETS
Debtors: amounts falling dne
within one year 12 51,802 857 52,659 I 1.650
Cash at bank and in hand 709,643 2,523, 180 330.854 56,» 1,280.384
761,445 2.524,037 330,854 3,616,336 1.292,034
CREDITORS
Amounts
falling due within
one year 13 ))449,067) )7466791 )3.4-6) ~219917!l, (156-827)
NET CURRENT ASSETS (687.622) 1,777,358 327,428 1,417,164 (270,793)
I(LIABILITIES)
TOTAL ASSETSLESS
CURRENT LIABILITIES 10,438,848 13.086,225 875,004 24,400,077 24.384,349
NET ASSETS 14 10,438,848 13,086)225 875,0114 24,400,077 24.384,349
FUNDS
General Purposes 10,438,848 10,383,460
Designated 13,086,225 13,067,678
Restricted 875,004 933.211
TOTAL FUNDS 14 24,400,077 24,384,349

fhe Linite
Re armed Church
Southern S n d		 fhe Linite
Re armed Church
Southern S n d		 fhe Linite
Re armed Church
Southern S n d		 Trust Li Trust Li Red
A Com an
Lim'ted b Guarantee
Statement ofCa h Fl
Year Ended 31 Decem
er 2 2
Notes 2020 2019
f.
Cash flow from operating
activities:
Net cash provided/used
in operating
activities		 1,698,234 (1,468,571)
Cash flows from investing
activities:
Dividends
and interest from investments		 449,692 670,757
Purchase offixed assets (6,968) (1,090)
Proceeds from the sale offixed assets 276,000 250
Purchase ofinvestments (I7,340,851) (20,400,172)
Issue ofProgramme
Related Loans		 (50,000) (17,000)
Repayment ofProgramme
Related Loans		 2,850 100
Proceeds from the sale ofinvestments 17,254,336 20,449,991
Net cash provided
by/used
in investing		 activities 585,059 702,836
Change in cash and cash equivalents
in		 the reporting period 2,283,293 (765,735)
Cash and cash equivalents
at the beginning ofthe		 reporting period B 1480484 2,046,119
Cash and cash equivalents
at the end ofthe reporting		 period B 3,563,677 1,280,384
Notes to the statement ofcash tlows
Reconciliation
ofnet income/expenditure		 to net cash
flow from operating
activities
Net income/expenditure
for the reporting		 period (as per 15,728 326,678
the statement offinancial activities)
Adjustments
for:
Depreciation
charges		 4,403 3,594
(Gains)/losses
on investments		 1,632,999 (7,365,793)
Dividends
and interest from investments		 (449,692) (670,757)
Loss/(profit)
on the sale offixed		 assets (100,540) 9
Decrease/(increase)
in debtors		 (41,009) 90,846
Increase/(decrease)
in creditors		 636345 I i46,852
Net cash provided
by operating		 activities I 698)34 (1,468,571)
Analysis ofcash and cash equivalents
Cash at bank and in hand 3,563,677 I 280384

a) Analysis ofTotal Income a) Analysis ofTotal Income
Unrestricted Funds 31.12.20 31 12.19
General Purposes Designated Restricted Total Total
Funds Funds Funds Funds Funds
f f. f f.
Income from generated funds
Rents Received 16,651 69,398 2,016 8$,065 137,292
Investment
income-listed		 investments 246,362 191,134 6,821 444,317 680,453
Interest 1.147 2 132 2,096 5,375 9,696
264,160 262 664 10,933 537,757 827,441
Income from charitable activities
Donations
and Legacies
Donations 160 12,500 635 13,295 16,828
Monies from closed churches 128,336 128,336 2,310
Quinquennial
contribution		 received 156 156 12,506
128,496 12 500 791 141,7S7 31644
Other mcome
Grant for mission work 2,000
Grants awarded
no longer		 required 45
Insurance
Claim		 I 358
45 45 3,358
Total operating
income		 392,656 275,209 11,724 679,589 862.443
Income on sale ofproperties
-ofclosed churches 116,000 116,000 1,430,000
-ofsurplus
menses		 3 332000 3,332,000 730,000
116000 3 332 000 3,448,000 2 160000
Profit/(Loss)
on sale offixed		 asset
-other property 101,000 101,000
101 000 101,000
Total income 609,656 3,607,209 11,724 4,22S,5$9 3 022 443

b) Analysis ofTotal Expenditure b) Analysis ofTotal Expenditure b) Analysis ofTotal Expenditure
Unrestricted Funds 31.12.20 31.12.19
General Purposes Designated Restricted Total Total
Funds Funds Funds Funds Funds
f 8
Expenditure
on Charitable		 Activities
Ministry
th Mission:-
Mission Deicer 52,499 52,499 54,138
Ecumenical
Oflicer		 620 620 2,056
Grants (note 4) 29,999 220,839 11,787 262,625 176,011
Shared indirect costs (note 3) 36 851 205 37,056 21,273
119969 220 839 II 992 352,800 253 478
Training:-
Training ofMinisters dt Lay
preachers(note
4)		 2,135 2,135 14,878
Students(note
4)		 571
Development
OAicer		 for education
k. Ieammg 51,364 51,364 52,388
Children's
st Youth Development		 Officer 50,023 50,023 50,562
Safeguarding
Officer		 21,394 2iF94 1.552
Other training
costs		 2,399 2,399 4 534
Shared indirect costs (note 3) 57 908
185223		 57,908
totlt		 I I 440
Property:-
Church
building
grants (note 4)		 20,000 779,163 799,163 1,265,734
Manse Repairs (note 4) 191,164 191,164 336,107
Manse Expenses 16,022 16,022 16,894
Quinquennial
Costs		 3,825 30,258 34,083 67,556
Expenses on Salek Purchase ofProperty 18,160 56,691 74,851 143,775
Other property
costs		 13,000 7,400 265 20,665 144,290
Staffcosts 87,725 87,725 67,645
Shared mdirect costs (note 3) 63,173 63,173 154,440
202 058 1.054265 30523 1,2$6,$46 2 196441

b) Analysis ofTotal Expenditure b) Analysis ofTotal Expenditure b) Analysis ofTotal Expenditure b) Analysis ofTotal Expenditure b) Analysis ofTotal Expenditure
Unrestricted Funds 31.12.20 31.12.19
General Purposes Designated Restricted Total Total
Funds Funds Funds Funds Funds
f. f.
Governance:-
Synod Meetings 2,238
Provincial
Committees		 675 675 3,354
Honoraria
Synod		 Clerk and Treasurer 1,000 1,000 1,000
Synod Clerk's expenses 70 70 (1,278)
Synod Treasurer's expenses 301 301 66
Legal Costs 24,029 24,029 22,838
Audit Fees 9,180 9,180 9,572
Invesut)ent
management		 costs 3,057 4,133 7,190 9,110
Shared indirect costs (note 3) 17548 17,548 3 813
55 860 4 133 59993 50 713
01
I
0)«I		 9) I II »
I» .4 4)		 9, 3
I,9,9 8)		 6,5 5
~38791)		 ,1184,86
~48»0		 3,63,
~),774,

Unrestricted Funds 31.12.20 31.12.19
General Purposes Designated Restricted Total Total
Funds Funds Funds Funds Funds
5
Premises Costs:-
Synod rent dt Hire ofRooms I8,447 18,447 20,906
Redecoration Costs 158
Synod Electricity 605 605 1,212
Insurance 940 940 928
Cleaning 1,203 1,203 95
21,195 21,195 23,299
Office Costs:-
Synod Employment Costs 119,681 119,681 122,481
Car dk Travel Expenses 3,333 3,333 3,597
Miscellaneous 1,015 1,015 5,611
Depreciation 4,198 205 4,403 3,594
Loss on Disposal ofFixed Assets 460 460 9
Telephone 4,544 4,544 4,179
Stationery
and		 Publications 1,750 1,750 2,323
Postage 550 550 1,230
Photocopier-Lease and Meter 726 726 1,009
Equipment
and Consumable		 Costs 13,857 13,857 I6,808
IT and Website 4,010 4,010 3,825
Advertising 2,487
Catering 161 161 515
154,285 205 154,490 167.668
Total Indirect Costs 175,480 205 175,685 190,967
Total Ministry k Training Property Governance
Mission
Total Indirect Costs 175,480 36,851 57,908 63,173 17,548
sg ofDirect Costs 100'/o 21a/o 330/ 36'/0 10'/0

institutions institutions tndividuals tndividuals
Number Amount Number Amount
Ministry
and		 Mission:
Other mission projects 3 11,448
Ecumenical
situations		 4 5,980
Local Church Missions i7 193,485
Youth tk Children's Work 6 50,600
Welfare Grants 3 1112
30 261,5]3 3 1,112
Tralnlng:
Ministers Ift lay preachers 11 2,135
Students
11 2,135
Property:
Local Churches 38 799,163
Menses 25 191,164
63 990,327
Total Grants Charged 93 1,251,840 14 3,247
5 EMPLOYMENT EMOLUMENTS
31.12.20 31.12.19
Wages Its salaries 268,882 252,549
Employers
national		 insurance 25,961 24,632
Pension costs 66,154 65,585
36II997 342,766
The average number of employees during the year was as follows:
Ministry
tk Mission
Training
Property
Adtninistration

The following
honorarium,		 The following
honorarium,		 The following
honorarium,		 The following
honorarium,		 which
is included		 which
is included		 which
is included		 in Trustees Expenses, was paid to a trustee in Trustees Expenses, was paid to a trustee in Trustees Expenses, was paid to a trustee during the year, the year, in
accordance with the govermng
document		 and approved
by tbe Charity Commission:-
31.12.20 31.12.19
Mr 1Demson (Synod Treasurer) 1,000 1,000
1,000 1,000
During
the year one trustee (2019:tive) were reimbursed
out ofpocket expenses mainly
total lmg 8361 (2019:f1,118).Two trustees (2019:three) were also paid a total of8995		 for telephone
costs snd travelling
(2019.82,972)relating
to their
positions
as stipendiary		 ministers,
comprising		 training
grants		 and reimbursement
ofministerial		 expenses.
G.AINS/(LOSSES) ON INVESTMENTS
31.12.20 3I.12.19
f f
Realised gams/(losses) on investments
sold		 (1,714,272) 4,690,680
Less: Gains/(losses) previously
recognised		 in Synod accounts (3,213,609)
Net gains((losses)
in		 year on investments sold (2,576,324) 1,477,071
Unrealised
gains/(losses)		 on investments for the year 943,325 888,722
Net gains/(losses)
on		 Investments
for the		 Year (1,632,999)
MOVEMENT
IN FUNDS
Balance Income Expenditure Transfers Gains/(losses) Balance
Fund:- 01.01.20 between Funds in Investments 31.12.20
8 f 8
General Purposes Unrestricted 9,937,465 609,656 (588,110) 999,998 (956,399) 10,002,610
Endowment 445,995 (9,757) 436,238
Manse Designated 8,741,586 3,607,209 (949,235) (639,427) 10,760,133
Alfnston
Mission Project		 Designated 170,538 170,538
Synod Mission Fund Designated 4,024,444 (1,000,002) (999,998) 2,024,444
Fund held for Uniting Designated 131,1 I0 131,110
Church Building Restricted 29,987 365 (30,258) 94
Endowment 10,614 658 11,272
Welfare Restricted 33,694 1,120 (1,112) (2,176) 31,526
Endowment 2,843 176 3,019
Retired Mimsters' Restricted 119,107 3.269 (265) 136 122,247
Housing Endowment 177,000 177,000
Milton Hall Restricted 113,106 4,272 (10,880) (4,956) 101,542
Endowment 249,285 (6,597) 242,688
Woolwich Restricted 197,575 2.698 (14.657) 185,616
24 384 349 4228 589 (2579862) ( I 632999) 24,400.077

Fixtures,
Freehold Fittings
dr
Property Equipment
I		 Totals
COST
At I January 2020 562,496 21,609 584,105
Additions
in year		 6,968 6,968
Disposals
in year		 (175,000) (3,371) (178,371)
At 31 December 2020 387,496 25,206 412,702
DEPRECIATION
At I January 2020 18,783 18,783
Charge for period 4,403 4,403
Eliminated
for disposal s		 (2,911) (2,911)
At 31 December 2020 20,275 20,275
NET BOOK VALUE
At 31 December 2020 387,496 4,931 392,427
At 31 December 2019 562,496 2,826 565,322
FIXEDASSETLISTEDINVESTMENTS
UNRESTRICTED FUNDS RESTRICTED FUNDS
Fixed Interest UK Fixed Interest UK TOTALS
Securities Equities Fund Securities Equities Fund
5 6 8
As at I January 2020 3,401,642 I8,496,781 135,151 351,555 22,385,129
Purchases 743,470 17,515,499 297,435 18,556,404
Sales (845,861) (18,633,244) (351,555) (19,830,660)
Net gains/(losses) fair value 151,044 765,576 18,322 943425
3,450,295 18,144,612 143,534 315,757 22,054,198
Cash held for Investment 472238 472 38
Fair Value at 31 December 2020 3,922,533 18,144s612 143~534 315757 224261436
Cost at 31 December 2020 3,673,970 17,735,772 130080 297435 21,837,257

11 SOCIAL INV ESTM EN TS
31.12.20 31 12.19
Loans to Local Churches 173,302 126,152
Loan to World Church Partner 200,000 200,000
Less Provision made for non-recoverability (309.252)
Less Amounts Written Off (309,252)
64,050 16,900
Loans made to local churches and ministers are normally repayable between three and five years and interest is
charged at 5%per annum on the outstandmg balance.
12 DEBTORS
31.12.20 31.12 19
Sundry debtors 52,659 11,650
13CREDITORS: AMOIiNTS FALLING DLIEWITHIN ONE TEAR
31.12.20 31.12.19
Other creditors 124,540 166.208
Grants not drawn 2,074,632 1.396,619
2,199,172
14 DISPOSITION OFFllNDS ASAT 31December 2020
Fund:- Tangible Investments Social Debtors/ Cash dt
Fixed Assets
f		 Investments Creditors Deposirs
f		 TOTALS
General Purposes Unrestncted 229,421 10,396,761 64,050 (1,397,265) 709,643 10,002,610
Endowment 436,238 436,238
Manse Designated 74,721 8,524,799 (36,475) 2,197,088 10,760,133
Alfnston
Mission Pro)ect		 Designated 170,538 170,538
Synod Mission Fund Designated 2,709,347 (709,347) 24,444 2,024,444
I.und held tor Umttng
Churches Designated 131,110 131,110
Church Building Resuicted (2,472) 2,566 94
Endowment 11,272 11,272
Welfare Restricted 27,008 (35) 4,553 31,526
Endowment 3,019 3,019
Retired Mmisters' Restricted 2,322 119,925 122,247
Housing Endowment 88,000 89,000 177,000
Milton
Hall		 Restricted 285 43,700 (919) 58,476 10(,542
Endowment 242,688 242,688
Woolwich Restricted 129.282 56,334 185.616
392.427 22,526436 64,050 l2,146,513) 3363677 24400.077

2019
Unrestricted Funds
General Purposes Designated Restricted Total
Funds Funds Funds Funds
6 f 6 8
INCOME AND ENDOWMENTS:
Income from Investments 426,038 384,644 16.759 827,441
Income from charitable activities
Donations
and Legacies		 15,050 3,37$ 13,216 31,644
Other Income 2.000 1,358 3,358
Total operating
income		 443,088 389,380 29,975 862,443
Income on sale ofproperties 1,430,000 730,000 2,160,000
Total Income and Endowments 1,873,088 1,119,3$0 ~29975 3,022,443
EXPENDITURE
Expenditure
on Charitable		 Activities 2,159,486 395,562 81.510 2,636,558
Total operating
expenditure		 2,159,486 395,562 81,510 2,636,558
Payment
to Inter-Synod
Resource Sharing
Purchase ofMenses
Total Expenditure
Operating
Account		 25.000
2,1$4,486		 2,400,000
2,795,562		 25)000
2,400,000
0,:8
Net Income/(Expenditure)
Transfers
between
Funds		 (4,000,000) 4,000,000
Other Recognised Gains/(Losses)
Net (Losses)/Gains
on Investments		 1,515,041 798,757 51,995 2,365,793
Net movement
in funds		 (2,796,357) 3,122,575 460 326,678
Total funds brought
forward		 13,179,817 9,945,103 932,751 24,057,671
Total funds carried forward 10,3$3,460 13,067,678 933,211 24,384,349