## ||||Page| |---|---|---|---| |Report ofthe Trustees|||I to 6| |Report ofthe Independent||Auditors|7to9| |Statement ofFinancial|Activities||10| |Balance Sheet|||11to 12| |Statement ofCash Flows|||13| |Notes to the Financial|Statements||14to27| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |tate
entofptnancialAct
f r
sr En|tvitie
|inca|orntin
thefneomea|ndEx
endttureAc|count||| |---|---|---|---|---|---|---|---| ||||Unrestricted|Funds||31.12.21|31.12.20| ||||General Purposes|Designated|Restricted|Total|Total| ||||Funds|Funds|Funds|Funds|Funds| ||||f.|6|f.||| |||Notes|||||| |INCOME AND ENDOWMENTS:|||||||| |Income from Investments||2a|456,493|404,570|12,953|874,016|537,757| |Income from charitable|activities||||||| |Donations
and Legacies||2a|80,608|51,599|650|132,857|141,787| |Other Income||2a|250,184|||250,184|45| |Total operating
income|||787485|456,169|13,603|1,257,057|679,589| |Income on sale ofproperties||2a|5,326,500|750,000||6,076,500|3.448,000| |Lease Premiums
Received||2a|31,942|||31,942|| |Profit/(Loss)
on sale ofproperties||2a|||197,500|197,500|101,000| |Total Income and Endowments||2a|6,145,727|1406,169|21I 103|7 8962,999|4,228,589| |EXPENDITURE|||||||| |Expenditure
on Charitable|Activities|2b|762,258|1,105,647|10,483|1,878888|1,884,862| |Total operating
expenditure||2b|762,258|1,105,647|10,483|19878488|1,884,862| |Payment to Inter-Synod|||||||| |Resource Sharing|||35,000|||35,000|25,000| |Contribution
to the Ministers'|||||||| |Pension Fund|||5,000,000|||5,000,000|| |Purchase ofMenses||||583,000||583,000|670,000| |Total Expenditure|||5,797,258|1,688,647|10,483|7.,496488|2,579,862| |Net Expenditure
on||2b|25,027|(649,478)|3,120|(621431)|(18205473)| |Operating
Account|||||||| |Net Income/(Expenditure)|||8, 69|~4848|200,620|66,611|1,648,727| |Transfers
between Funds|||1,070,189|(1,070,189)|||| |Other Recognised Gains/(Losses)|||||||| |Net (Losses)/Gains
on Investments||7|1,738,574|1,124,225|46,192|2,908,991|(1,632,999)| |Net movement
in funds|||3,157232|(428,442)|2462112|2,975,602|15,728| |Total funds brought forward|||10,438,848|13,086,225|875,004|24,400,077|24,384,349| |Total funds carried forward|||13,596,080|12,657,783|1,1213116|27375,679|24,400,077| ## ## |A Com
an
Lim
Balance Sheet
At 31December|ited b
2021|Gua|rantee||||||| |---|---|---|---|---|---|---|---|---|---| ||||Unrestricted|Funds||||31.12.21|31.12.20| ||||General Purposes|Designated|||Restricted|Total|Total| ||||Funds|Funds|||Fuads|Funds|Funds| ||||||||5||| |||Notes|||||||| |FIXEDASSETS|||||||||| |Tangible assets||9|229,422||74,721||80|304,223|392,427| |Investments||10|14,208,264|10,714,536|||505,482|25,428,282|22,526,436| |Social Investments||11|102,370|||||102,370|64,050| ||||14,540,056|10,789,257|||505,562|25,834,$75|22,982,913| |CURRENT ASSETS|||||||||| |Debtors: amounts|falling|due|||||||| |within
one year||12|34,893|||857||35,750|52,659| |Cash at bank and|in hand||3,376,355|2|969|644|616,254|6,953,153|3,563,677| ||||3,411,248|2,961,401|||616,254|6,988,903|3,616,336| |CREDITORS|||||||||| |Amounts
falling due within|||||||||| |one year||13|(1,568,617)|(1,092,875)||||(2,661,492)|(2,199,172)| |NET CURRENT|ASSETS||1,842,631|1,868,526|||616,254|4,327,411|1,417,164| |/(LIABILITIES)|||||||||| |TOTAL ASSETSLESS|||||||||| |CURRENT LIABILITIES|||16,382,687|12,657,783|||1,121,816|30,162,286|24,400,077| |CREDITORS|||||||||| |Amounts
falling due outside|||(2,786,607)|||||(2,786,607)|| |one year|||||||||| |NET ASSETS||14|13,596,080|12,657,783|||1,121,816|27,375,679|24,400,077| |FUNDS|||||||||| |General Purposes||||||||13,596,080|10,438,848| |Designated||||||||12,657,783|13,086,225| |Restricted||||||||1,121,$16|875,004| |TOTAL FUNDS||14||||||27,375,679|24,400,077| ## ## ||||||Notes|2021|2020| |---|---|---|---|---|---|---|---| ||||||||5| |Cash flow from operating
activities:|||||||| |Net cash provided/used
in operating
activities||||||2490,079|1,698,234| |Cash flows from investiag activities:|||||||| |Dividends
aod interest from investments||||||749,378|449,692| |Purchase|offixed assets|||||(4)306)|(6,968)| |Proceeds from the sale offixed assets||||||285,500|276,000| |Purchase|ofinvestments|||||(682,855)|(17,340,851)| |Issue of|Programme
Related Loans|||||(51,520)|(50,000)| |Repayment ofProgramme
Related Loans||||||13,200|2,850| |Proceeds|from the sale ofinvestments|||||690,000|17,254,336| |Net cash provided
by/used
in investing||activities||||999497|585,059| |Change|in cash and cash equivalents
ia|the reporting||period||3489,476|2,283,293| |Cash and cash equivalents
at tbe heginniag ofthe|||reportiag period||6|3,563,677|1,280,384| |Cash and cash equivalents
at the end ofthe reporting||||period||6&953,153|3,563,677| ||Notes to the statement ofcash flows||||||| |A|Recoacilintion ofnet income/expeaditure||to|net cash|||| ||flow from operating
activities||||||| ||Net income/expeaditure
for the reportiag||period (asper|||2,975,602|15,728| ||tbe statement offinancial activities)||||||| ||Adjustmeats
for:||||||| ||Depreciation
charges|||||4,043|4,403| ||(Galas)/losses
on investments|||||(2,908,991)|1,632,999| ||Dividends
and interest from investments|||||(749478)|(449,692)| ||Loss/(profit)
on the sale offixed|assets||||(197,033)|-100,540| ||Decrease/(increase)
in debtors|||||16,909|-41,009| ||Increase/(decrease)
in creditors|||||3,248,927|636,345| ||Net cash provided
by operating|activities||||2890,079|1,698,234| ||Analysis ofcash and cash equivalents||||||| ||Cash at bank and in hand|||||6,953,153|3,563,677| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |a)Analysis ofTotal Income|a)Analysis ofTotal Income|||||||| |---|---|---|---|---|---|---|---|---| |||||Unrestricted|Funds||31.12.21|31.12.20| ||||General|Purposes|Designated|Restricted|Total|Total| ||||Funds||Funds|Funds|Funds|Funds| |||||||f.||| |Income from generated|funds|||||||| |Rents Received||||13,100|111,538||124,638|88,065| |Investment
income-listed|investments|||439,302|292,759|12,910|744,971|444,317| |Interest||||4,091|273|43|4,407|5,375| |||||456,493|404,570|12,953|874,016|537,757| |Income from charitable|activities|||||||| |Donations
and Legacies||||||||| |Donations||||3,505|51,599|494|55,598|13,295| |Monies finm closed|churches|||77,103|||77,103|128,336| |Quinquennial
contribution||received||||156|156|156| |||||80608|51 599|650|132,857|141,787| |Other income||||||||| |Training course contributions||||125|||125|| |Discounting ofLong|Term|Creditor||213,393|||213,393|| |Grants awarded no longer required||||36 666|||36,666|45| |||||250 184|||250,184|45| |Total operating
income||||787385|456,169|13,603|1,257,057|679,589| |Income on sale ofproperties||||||||| |-ofclosed churches||||5,326,500|||5426,500|116,000| |-Lease Premiums
Received||||31,942|||31,942|| |-ofsurplus menses|||||750,000||750,000|3,332,000| |||||5358442|750,000||6,108,442|3,448,000| |Profit/(Loss)
on sale offixed asset:||||||||| |-other pmperty||||||197,500|197,500|101,000| |||||||197500|197,500|101000| |Total income|||6,145,727||1,206,169|211,103|7st62,999|4,228,589| ## ## |b) Analysis ofTotal Expenditure|b) Analysis ofTotal Expenditure|b) Analysis ofTotal Expenditure||||||| |---|---|---|---|---|---|---|---|---| |||||Unrestricted|Funds||31.12.21|31.12.20| |||||General Purposes|Designated|Restricted|Total|Total| |||||Funds|Funds|Funds|Funds|Funds| |Expenditure
on Charitable||Activities||||||| |Ministry &Mission:-||||||||| |Mission Office||||52,305|||52405|52,499| |Ecumenical Office||||266|||266|620| |Grants (note 4)||||27,649|343,365|2,044|373,058|262,625| |Shared indirect costs (note 3)||||36,398||205|36,603|37,056| |||||116,618|343,365|2249|462,232|352,800| |Training:-||||||||| |Training ofMinisters &Lay||||||||| |preachers (note 4)||||12,290|||12,290|2,135| |Students
(note 4)||||500|||500|| |Training &Development|Officer|||51,913|||51,913|51,364| |Children's &Youth Development|||Officer|50,395|||50495|50,023| |Safeguarding
Oflicer||||22,589|||22,5$9|21,394| |Other training costs||||1,375|||1,375|2,399| |Shared indirect costs (note 3)||||57,197|||57,197|57,908| |||||196,259|||196359|185,223| |Property:-||||||||| |Church building
grants (note 4)|||||586,446||586,446|799,163| |Manse Repairs (note 4)|||||118,590||118,590|191,164| |Manse Expenses|||||14,541||14,541|16,022| |Quinquennial
Costs|||||5,400|156|5,556|34,0$3| |Expenses on Sale&Purchase||ofProperly||228,711|19,297||248,008|74,851| |Other properly costs||||30,195|6,480|8,078|44,753|20,665| |Staffcosts||||$9,031|||89,031|$7,725| |Shared indirect costs (note 3)||||62,397|||62,397|63,173| |||||410,334|750,754|8,234|1,169,322|1,286,846| ## ## ## ## |b) Analysis ofT|otal E|xpendit|ure||||||| |---|---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Funds||31.12.21|31.12.20| |||||General Purposes||Designated|Restricted|Total|Total| ||||||Funds|Funds|Fundsf|Funds|Funds| |Governance:-|||||||||| |Synod Meetings|||||48|||48|| |Provincial Committees|||||281|||281|675| |Honoraria
Synod|Clerk|and Treasurer|||1,000|||1,000|1,000| |Synod Clerk's expenses|||||||||70| |Synod Treasurer's|expenses||||149|||149|301| |Legal Costs|||||7,092|7,886||14,978|24,029| |Audit Fees|||||9,580|||9,580|9,180| |Investment
management||costs|||3,565|3,642||7,207|7,190| |Shared indirect costs (note 3)|||||17,332|||17,332|17,548| ||||||39,047|11,528||50,575|59,993| |Total expenditure|on|charitable||activiti|762,258|1,105,647|10,483|1,878388|Id',862| |Net expenditure|on operating||account||25,027|(649,478)|3,120|(621,331)|(1,205,273)| ## ## ## |INDIRECT COST|S|||||||| |---|---|---|---|---|---|---|---|---| ||||Unrestricted|Funds|||31.12.21|31.12.20| ||||General Purposes|Designated||Restricted|Total|Total| ||||Funds|Funds||Funds|Funds|Funds| |Premises Costs:-||||||||| |Synod rent 4 Hire|ofRooms||18,000||||18,000|18,447| |Synod Electricity|||1,500||||15500|605| |Insurance|||943||||943|940| |Cleaning|||133||||133|1303| ||||20,576||||20476|21,195| |Office Costs:-||||||||| |Synod Employment|Costs||120,800||||120,800|119,681| |Car 4t Travel Expenses|||2,880||||2,880|3,333| |Miscellaneous|||2,194||||2,194|1,015| |Depreciation|||3,838|||205|4,043|4,403| |Loss on Disposal ofFixed Assets|||467||||467|460| |Telephone|||5,184||||5,184|4,544| |Stationery
and Publications|||1,681||||1,681|1,750| |Postage|||671||||671|550| |Photocopier-Lease|and Meter||641||||641|726| |Equipment
and Consumable||Costs|10,001||||10,001|13,857| |IT and Website|||4,190||||4,190|4,010| |Catering|||201||||201|161| ||||152,748|||205|152,953|154,490| |Total Indirect Costs|||173424|||205|173,529|175,685| ||||Total|Ministry|dc|Tfalllmg|Property|Governance| |||||Mission||||| |Total Indirect Costs|||173,324|36,398||57,197|62,397|17,332| |%ofDirect Costs|||100%|12%||24%|60%|4%| ## ||||||Institutions|Institutions|Individuals|Individuals| |---|---|---|---|---|---|---|---|---| ||||||Number|Amount|Number|Amount| ||Ministry
and Mission:|||||||| ||Other mission projects||||3|6,210||| ||Ecumenical
situations||||3|2,800||| ||Local Church Missions||||25|303,628||| ||Youth dt Children's||Work||5|59,500||| ||Welfare Grants||||||2|920| ||||||36|372,138|2|920| ||Training:|||||||| ||Ministers 4 lay|preachers|||||20|12,290| ||Students||||||2|500| ||||||||22|12,790| ||Property:|||||||| ||Local Churches||||74|586,446||| ||Menses||||30|118,590||| ||||||104|705,036||| ||Total Grants Charged||||140|1,077,174|24|13,710| |5|EMPLOYMENT EMOLUMENTS|||||||| |||||||31.12.21||31.12.20| ||Wages dt salaries|||||247,157||268,882| ||Employers
national|insurance||||28,573||25,961| ||Pension costs|||||81,607||66,154| |||||||357,337||360,997| ||The average number|of|employees|during the year was as follows:||||| ||Ministry
ds Mission|||||||| ||Trannng|||||||| ||Property|||||||| ||Administration|||||||| ## ## |The following
honoranum,|The following
honoranum,|The following
honoranum,|The following
honoranum,|The following
honoranum,|which
is included|which
is included||in Trustees Expenses,|in Trustees Expenses,|was|paid to a trustee|during|during|the year,|in|| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |accordance with|the||governing
document|||and||approved
by the Chanty Commission-||||||||| ||||||||||||31.12.21|||||31,1220| |||||||||||||||||f,| |MrIDenison (Synod Treasurer)||||||||||||||||| |Dunng the year|five||trustees||(2020, one)|were||reimbursed
out ofpocket|||expenses mainly|for telephone costs and travellmg||||| |totalhng 5240(2020.8361) Two tmstees||||||(2020:two) were|||also paid atotal of5269(2020:6995)relating||||||totheir|| |positions as stipendiary||||ministers,
comprising||||training
grants and reimbursement
ofministerial|||||expenses.|||| |GAINS/(LOSSES)||ON INVKSTMKNTS||||||||||||||| ||||||||||||31.12.21|||||31.12.20| |||||||||||||||||8| |Realised gains/(losses)
on investments
sold
Less: Gains/(losses)
previously
recognised
in|||||||Synod accounts||||65,132a|||||(1,714,272)| |Net gains/(losses)|m|year on|||investments|sold|||||26,712|||||(2,576,324)| |Unrealised
gains/(losses)||||on|investments|for the year|||||2,8$2,278|||||| |Net gains/(losses)|on||Investments
for the|||Year||||||||||(1.632.999)| |MOVEMENT IN FUNDS||||||||||||||||| |||||||||Balance|Income||Expenditure|Transfers|||Gains/(losses)|Balance| |Fund:-||||||||01.01 21
f|f||f|between||Funds in Investments
f||31.12.21| |General Purposes|||||Unrestricted|||10,002,610|6,145,727||(5,797358)||1,070,189||1,687,463|13,108,731| ||||||Endowment|||436238|||||||51,111|487/49| |Manse|||||Designated|||10,760,133|1,206,169||(758,836)||||1,124,225|12831,691| |Al&istonMissionProject|||||Designated|||170,538||||||||I70438| |Synod Mission Fund|||||Designated|||2,024,444|||(929,811)|(1,070,189)||||24,444| |Fund held for Umting|||||Designated|||131,110||||||||131,110| |Church Building|||||Restricted|||94||228|(156)|||||166| ||||||Endowment|||11,272|||||||(672)|10,600| |Welfare|||||Restricted|||31,526|1,376||(920)||||3,481|35,463| ||||||Endowment|||3,019|||||||(180)|2.839| |Retired Ministers'|||||Restncted|||122/47|197,546||(8,077)||||(138)|311,578| |Housing|||||Endowment|||177,000||||||||177,000| |Milton Hall|||||Restricted|||101,542|7,041||(1,330)||||7,579|114JI32| ||||||Endowment|||242,688|||||||13,703|256391| |Woolwich|||||Restricted|||185,616|4,912||||||22,419|212,947| ||||||||24400077||7362,999||(7496388||||2,908.991|27875,679| ## ## ## |||Fixtures,|| |---|---|---|---| ||Property|Equipment|Totals| ||||8| |COST|||| |At I January 2021|387,496|25,206|412,702| |Additions
in year||4,306|4,306| |Disposals
in year|(88,000)|(1,845)|(89,845)| |At 31December 2021|299,496|27,667|327,163| |3,376,355|||| |DEPRECIATION|||| |At I January 2021||20,275|20,275| |Charge for period||4,043|4,043| |Eliminated
for disposals||(1,378)|(1478)| |At 31December 2021||22,940|22,940| |NET BOOK VALUE|||| |At 31December 2021|299,496|4,727|304,223| |At 31December 2020|387,496|4,931|392,427| ## ||||UNRESTRICTED FUNDS|UNRESTRICTED FUNDS|RESTRICTED FUNDS|RESTRICTED FUNDS|| |---|---|---|---|---|---|---|---| ||||Fixed Interest|UK|Fixed Interest|UK|TOTALS| ||||Securities|Equities Fund|Securities|Equities Fund|| |||||6|||| |As at I January 2021|||3,450,295|18,144,612|143,534|315,757|22,054,198| |Purchases|||510,000||||510,000| |Sales||||(663,288)|||(663,288)| |Net gains/(losses)|fair value||(197,957)|3,034,044|8,567)|54,758|2,882,278| ||||3,762,338|20,515,368|134,967|370,515|24,783,188| |Cash held for Investment|||645,094||||645,094| |Fair Value at 31|December|2021|4,407,432|20,515vI68|134,967|370,515|W428,282| |Cost at 31December 2021|||3,164,828|16,478,106|130,080|297,435|20,070,449| ## |||||||||||31.12.21|||31.12.20| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Loans to Local Churches||||||||||102,370|||173,302| |Loan to Wmld Church Partner|||||||||||||200,000| |Less Provision made for|non-recoverability||||||||||||| |Less Amounts
Written Off|||||||||||||(309,252)| |||||||||||102,370|||| |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 outstanding|balance.||||||||||| |12 DEBTORS|||||||||||||| |||||||||||31.12.21|||31.12.20| |||||||||||8|||| |Sundry debtors||||||||||F|||52,659| |13CREDITORS: AMOUNTS||FALLING DUE WITHIN|||ONE YEAR||||||||| |||||||||||31.12.21|||31.12.20| |||||||||||8|||f.| |Other creditors||||||||||67,854|||124,540| |Grants not drawn||||||||||2492,781|||| |14 CREDITORS: AMOUNTS||FALLING DUE OUTSIDE ONE YEAR|||||||||||| |||||||||||31.12.21|||31.12.20| ||||||||||||||f| |Contribution
to Ministers'|Pension Fund|||||||||2,786,607|||| |15 DISPOSITION OFFUNDS||ASAT 31December||2021|||||||||| |Fund:-|||Tangible||Investments||||Social|Debtors/|Cash|th|| |||Fixed Assets
f||||f|||Investments
f|Creditors
6|Deposits
6||TOTALS| |Geaeral Purposes||Unrestricted|229,422|||13,720,915|||102,370|(4,320,331)|3,376,355||13,108,731| |||Endowment||||487,349|||||||487,349| |Masse||Designated|74,721|||9,645,414||||(22,896)|2,634,452||12,331,69i| |Alfriston Mission Project||Designated|||||||||170,538||170,538| |Syaod Mission Fund||Desigaated||||1,069,122||||(1,069,122)|24,444||24,444| |Fund held for Uniting|||||||||||||| |Churches||Desigoated|||||||||131,110||131,110| |Church Building||Restricted||||||||||166|166| |||Endowltlerlt||||10,600|||||||10,600| |Welfare||Restricted||||30,489|||||4,974||35,463| |||Endowment|||||2,839||||||2,839| |Retired Ministers'||Restricted|||||2,184||||309,394||311,578| |Housing||Eadowment|||||||||177,000||177,000| |Milton Hall||Restricted||80||51,278|||||63,474||114,832| |||Endowment||||256,391|||||||256,391| |Woolwich||Restricted||||151701|||||61246||212947| |||||||'2;42|.282||102370|54123 91|.53,153||27,375,679| ## ## ## ## ## ## ## ## ## ||||2020||| |---|---|---|---|---|---| |||Unrestricted|Funds||| |||General Purposes|Designated|Restricted|Total| |||Funds|Funds|Funds|Funds| ||||||g| |INCOME AND ENDOWMENTS:|||||| |Income from Investments||264,160|262,664|10,933|537,757| |Income from charitable|activities||||| |Donations
and Legacies||128,496|12,500|791|141,787| |Other Income|||45||45| |Total operating
income||392,656|275,209|11,724|679,589| |Income on sale ofproperties||116,000|3,332,000||3,448,000| |Profit/(Loss)
on sale ofproperties||101,000|||101,000| |Total Income nnd Endowments||609,656|3,607409|11,724|4428,589| |EXPENDITURE|||||| |Expenditure
on Charitable|Activities|563,110|1,279,237|42,515|1,8843162| |Total operating
expenditure||563,110|1,279,237|42,515|1,884,862| |Payment to Inter-Synod|||||| |Resource Sharing||25,000|||25,000| |Purchase ofMenses|||670,000||670,000| |Total Expenditure||588,110|1,949,237|42,515|2,5793162| |Net Expenditure
on||(170,454)|(1,004,028)|(30,791)|(1,205,273)| |Operating
Account|||||| |Net Income/(Expenditure)||21,546|1,657,972|~30,|91|l,648127| |Transfers
between Funds||999,998|(999,998)||| |Other Recognised Gains/(Losses)|||||| |Net (Losses)/Gains
on Investments||(966,156)|(639,427)|(27,416)|(1,632,999)| |Net movement
in funds||55488|18,547|(58,207)|15,728| |Total funds brought forward||10,383,460|13,067,678|933,211|24,384,349| |Total funds carried forward||10,438,848|13,086,225|875,004|24,400,077|