**Company Registration No. 01572178 (England & Wales) England & Wales Charity Number 283041 Scottish Charity Number SC038451**
## **WORD OF LIFE MINISTRIES UK LIMITED**
**(A COMPANY LIMITED BY GUARANTEE)**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2021**
## **Trustees**
**Trustees** M Robins L Smith M Pitts S Rankin A Konya (Chairperson) L Fernandez Paz A Wenzel **Secretary** M Robins **England & Wales charity number** 283041 **Scottish charity number** SC038451 **Company number** 01572178 **Registered office** 28 Rosewood Gardens Marchwood Hampshire SO40 4YX **Independent examiner** Keith Macpherson CA Johnston Carmichael LLP Bishop's Court 29 Albyn Place ABERDEEN AB10 1YL
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **CONTENTS**
|||**Page**|
|---|---|---|
|Trustees' report||1 - 3|
|Independent Examiner's report to the Trustees||4|
|Statement of financial activities||5|
|Balance sheet||6|
|Notes to the financial statements||7-12|
||.||
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021**
The trustees present their report and accounts for the year ended 31 March 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document, the Companies Act 2006, the Charities Accounts (Scotland) Regulations 2006, the Charities and Trustees Investment (Scotland) Act 2005, the Charities Act 2011 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)'.
## **Structure, governance and management**
Word of Life Ministries UK Limited is a registered charity and a company limited by guarantee. The registered office is 28 Rosewood Gardens, Marchwood, Hampshire, SO40 4YX. It's company registration number is 01572178, and it's England & Wales charity number is 283041.
On 19th July 2007 the charity was registered with the Office of the Scottish Charity Regulator, registration number SC038451. As set out in the Memorandum and Articles, the Board of Trustees, exists to oversee the running of the charitable company.
Word of Life Ministries UK Limited (WOLUK) is managed by a small group of Trustees who are also the company directors legally responsible for the organisation. The trustees are responsible for day-to-day management of staff and activities. The charity is governed by its Memorandum and Articles of Association.
The Board of Trustees shall have the power at any time to appoint any person to be a Trustee. Any member so appointed shall hold office only for three years, and shall then be eligible for re-election.
Furthermore, at every Annual General Meeting any Trustee who has held their position for three years must retire from office. A retiring member is eligible for re-election.
The charitable company can from time to time by ordinary resolution increase or reduce the number of Trustees and determine in what rotation such increased or reduced numbers shall go out of office. The charitable company may, by ordinary resolution of which special notice has been given, remove any Trustee.
The Trustees (who are also the directors of the company for the purpose of company law) who served during the year and until the financial statements were approved were as follows:
M Robins P McCulloch (resigned 7 November 2020) L Smith M Pitts S Rankin A Konya L Fernandez Paz (appointed 18 April 2020) A Wenzel (appointed 18 April 2020)
## **Objectives and activities**
The objective of the charity is the evangelisation and discipleship of youth through various means consistent with the Holy Scriptures to strengthen and build up the Church of Jesus Christ.
Significant activities include the provision of camps for youths.
The trustees have paid due regard to guidance issued by the Charity Commission and the Office of the Scottish Charity Regulator (OSCR) in deciding what activities the company should undertake.
1
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Objectives and activities (continued)**
Word of Life Ministries UK Ltd carry out the following main activities annually -
Running summer residential holidays, with funds raised to allow for children of refugee families to attend, as well as raising funds which pay for children to attend from families that could not normally afford to send them anywhere in the summer.
Carrying out of Puppet shows in school assemblies aiding those schools in meeting their religious observance requirements
Running free family shows during the Edinburgh Fringe Festival in the summer.
## **Achievements and performance**
In the 2020-21 year, WOL UK has had to adapt to the presence of Covid in the UK, and the impact on our ability to run the normal programme of activities that we would seek to provide. With the Schools work, and residential programmes having to be postponed, our work has moved online, with regular volunteer updates utilising online meeting platforms, the running of online youth clubs, and trying to connect with people as best we can in the challenging times of the Lockdown.
There has also been the opportunity to assess and prepare for the eventual resuming of activities. One aspect has been the purchase of a new vehicle for the puppet team to use, replacing an older, more polluting vehicle, and ensuring that the schools team has the means to continue to aid schools in meeting their religious observance requirements once they return to allowing groups back in.
In meeting with our volunteers online, we have sought to encourage them, and help keep them connected at a time when many were being kept isolated due to the restrictions in place. Ultimately seeking to help meet their emotional, mental, physical, spiritual, and social needs.
## **Post Year observation on Covid impact**
At the close of this year, it became apparent that COVID-19 was going to have a significant impact on our work well into the 2021-22 year as well. With the lockdown, and other restrictions, still being in place in many parts of the UK, most of our annual events have been postponed until the UK situation stabilises.
We continued to carry out activities online, where possible, and to maintain contact with our volunteers during this time, as well as carrying out planning toward the 2021-22 period. We have not seen much of an impact on donations coming in for the supporting of staff and running costs, furthermore, the lack of overheads that would normally result from having facilities and property, have allowed us to maintain a healthy position through the challenges of Covid-19 and so will be well placed to continue operating beyond the end of the pandemic.
## **Financial review**
As WOLUK approaches 40 years of activity the organisation continues to operate debt free. WOLUK has been able to maintain income streams and protect long-term investments that help to ensure the ongoing work.
The trustees feel that they would be able to continue the current activities of the organisation in the event of a significant drop in funding. It would obviously be necessary to consider how the funding would be replaced or activities changed accordingly. At the year end, the unrestricted funds were £142,259 (2020 - £73,762).
The charity's policy is to build up reserves to a level sufficient to meet planned expenditure requirements for the next year. 2020/2021 is expected to be an unusual year, due to the Covid-19 pandemic, but will give an opportunity to review the activities of the ministry and make plans for successive years. Staff costs compared to incomes for their salaries are predicted to remain stable, with staff raising donations to cover their costs, rather than relying on income from the events and activities of the charity. Total funds of £142,259 are held, of which £18,092 are held as tangible assets, and £82,475 is held as investments, therefore £41,692 is available to meet planned expenditure requirements for next year. Trustees and staff are continuing to keep a close watch on income and expenditure going forward, with the aim of ensuring our finances remain stable. Due to the nature of our work, any new staff that come into the charity will likely have raised enough in donations to cover their employment, and any additional costs that might occur.
2
## **WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
On behalf of the board
..................................................... M Robins **Trustee**
21 / 12 / 2021
**DATE**
............................
3
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF WORD OF LIFE MINISTRIES UK LIMITED**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021 which are set out on pages 5 to 12.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’) and the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and that the charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply, and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act and Section 44 (1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or 2. the accounts do not accord with those records or fail to comply with Regulation 8 of the 2006 Accounts Regulations; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **Use of our report**
This report is made to the company's board of directors, as a body, in accordance with the terms of engagement. My work has been undertaken to enable me to undertake an independent examination of the charity’s accounts on behalf of the company's board of directors and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's board of directors as a body, for my work or for this report.
......................................... Keith Macpherson, CA
**DATE**
21 / 12 / 2021
.........................................
Chartered Accountants Bishop's Court 29 Albyn Place ABERDEEN AB10 1YL
4
**WORD OF LIFE MINISTRIES UK LIMITED**
## **(A COMPANY LIMITED BY GUARANTEE)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
**----- Start of picture text -----**
Unrestricted Restricted Total Total
funds funds 2021 2020
Notes £ £ £ £
Income and endowments from:
Donations and legacies 2 105,436 1,056 106,492 47,106
Charitable activities 3 - - - 10,275
Investments 4 951 - 951 1,117
Other income 5 - - - 100
FOR THE YEAR ENDED 31 MARCH 2021 106,387 1,056 107,443 58,598
Expenditure on:
Charitable activities 6 51,763 1,056 52,819 61,523
Total expenditure 51,763 1,056 52,819 61,523
Net gain/(loss) on investments 10 13,873 - 13,873 (6,553)
-
Net (expenditure)/income 68,497 68,497 (9,478)
Net movement in funds 68,497 - 68,497 (9,478)
-
Total funds brought forward 73,762 73,762 83,240
Total funds carried forward 142,259 - 142,259 73,762
**----- End of picture text -----**
The statement of financial activities also complies with the requirements for an income and expenditure account under Companies Act 2006.
5
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **BALANCE SHEET AS AT 31 MARCH 2021**
**----- Start of picture text -----**
2021 2020
Notes £ £ £ £
Fixed assets
Tangible assets 9 18,092 1,456
Investments 10 82,475 67,654
100,567 69,110
Current Assets
Debtors 11 4,734 2,403
Cash 39,846 5,080
44,580 7,483
Creditors : Amounts falling due within one year 12 (2,888) (2,831)
Net current assets 41,692 4,652
Total assets less current liabilities 142,259 73,762
Funds
Unrestricted funds 142,259 73,762
Restricted funds - -
Total charity funds 142,259 73,762
**----- End of picture text -----**
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
## 21 / 12 / 2021
Approved by the Board for issue on
………...…….
..........................................
M Robins
**Trustee**
## **Company registration No. 01572178**
6
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1 Accounting policies**
## **1.1 Company information**
Word of Life Ministries UK Limited is a charitable company limited by guarantee incorporated in England & Wales. The company is also a registered charity in England & Wales and also with the Office of the Scottish Charity regulator. The registered office is 28 Rosewood Gardens, Marchwood, Hampshire, SO40 4YX.
## **1.2 Basis of preparation**
The financial statements have been prepared under the historical cost convention, modified to include fixed asset investments at fair value. The principal accounting policies are set out below.
The financial statements have been prepared in accordance with: Charities and Trustee Investment (Scotland) Act 2005;
The Charities Accounts (Scotland) Regulations 2006;
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102);
The Financial Reporting Standard application in the UK and Ireland (FRS102) Chapter 1A; The Charities Act 2011;
Companies Act 2006
The charity constitutes a public benefit entity as defined by FRS102.
The financial statements are prepared in sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
The charity has availed itself of S396 of the Companies Act 2006, as permitted in paragraph 4 (1) of Schedule 1 of SI 2008 No 409, and adapted the Companies Act formats to reflect the special nature of the charity's activities.
## **1.3 Going concern**
The trustees consider that there are no material uncertainties about the charity's activities and that the charity has sufficient available funds to continue as a going concern for at least the next 12 months.
## **1.4 Income**
Income from donations and legacies is included in income when any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Income from charitable activities includes income from events and is included when receivable.
Income from investments and other trading activities is recognised in relation to the period the interest relates to.
## **1.5 Expenditure**
All expenditure is included on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Expenditure on charitable activities comprises the costs associated with the charity's principal activities. Expenditure is included in relation to the period it relates to.
7
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **1.6 Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures and fittings - 25% reducing balance Motor vehicles - 25% reducing balance Office equipment - 25% reducing balance
## **1.7 Investments**
Fixed asset investments are included in the accounts at fair value at the year end, which is based on quoted market values. Any gains or losses arising on disposals and revaluations throughout the year are included in the SOFA.
**1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand and fixed term bank deposits. Deposits are placed with UK based banks for fixed periods of less than 12 months.
**1.9 Accumulated funds** Unrestricted funds can be used in accordance with charitable objects at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
**1.10 Financial instruments** The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
## **Basic financial assets**
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.
## **Other financial assets**
Other financial assets, including investments in equity instruments which are not subsidiaries, associates, or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in income and expenditure.
## **Derecognition of financial assets**
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
## **Basic financial liabilities**
Basic financial liabilities, including creditors and accruals, are recognised at transaction price.
## **Derecognition of financial liabilities**
Financial liabilities are derecognised when, and only when, the organisation's obligations are discharged, cancelled, or they expire.
**1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.12 Taxation**
The charity has been granted charitable status by HMRC and is not therefore liable for corporation tax.
8
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **1.13 Foreign currency translation**
Transactions in foreign currencies are recorded at the average of the previous month's exchange rates. Monetary assets and liabilities are retranslated at the rate of exchange ruling at the balance sheet date.
## **1.14 Pensions**
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the Statement of Financial Activities.
## **1.15 VAT**
The charity is not registered for VAT and therefore all expenditure is shown inclusive of VAT.
## **Critical accounting estimates and judgements**
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The trustees consider that there are no estimates and underlying assumptions which has significant risk of causing a material adjustment to the carrying amount of assets and liabilities.
|**2**
**Donations and legacies**
Support from USA
Donations received
Government grant income|**2021**
**£**
28,482
52,650
25,360
106,492|**2020**
**£**
21,260
25,846
-
47,106|
|---|---|---|
In 2021 £105,436 (2020 - £46,050) was attributable to unrestricted funds and £1,056 (2020 - £1,056) attributable to restricted funds. Government grant income receivable in the year was in respect of the Job Retention Scheme.
## **3 Charitable activities**
Income from charitable activities is attributable to the charity's summer and winter camps. In 2021 £nil (2020 - £10,275) was attributable to unrestricted funds due to restrictions on undertaking these activities.
|**4**
**Investment income**
Interest receivable
Dividend income|**2021**
**£**
2
949
951|**2020**
**£**
8
1,109
1,117|
|---|---|---|
All of the interest receivable was attributable to unrestricted funds in both 2021 and 2020.
## **5 Other income**
Other income in 2020 was unrestricted and attributable to literature sales.
9
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**6**
**Charitable activities (including support costs)**
Wages & salaries
Camp and conference expenses
Donations
Motor and travel
Depreciation
Advertising and promotions
Loss on foreign exchange
Insurance
Pension costs
Printing, postage & stationery
Subscriptions
Office costs
Bank charges
Governance costs (independent examination fee)|**2021**
**£**
41,403
51
-
3,246
364
344
1,871
1,764
33
972
701
70
50,819
2,000
52,819|**2020**
**£**
41,538
8,271
1,056
2,487
485
-
413
1,854
1,806
270
356
467
60
59,063
2,460
61,523|
|---|---|---|
In 2021 £51,763 (2020 - £59,775) was attributable to unrestricted funds and £1,056 (2020 - £1,056) was attributable to restricted funds.
## **7 Company limited by guarantee**
The company is limited by guarantee and as such has no issued share capital. In the event of the company being wound up the liability of the members is limited to £1 each.
## **8 Employees**
The average number of full time employees during the year is as follows:
|**Employments costs**
Gross wages, salaries and benefits in kind
Social security costs
Pension costs|**2021**
**Number**
3
**2021**
**£**
41,403
-
1,764
43,167|**2020**
**Number**
3
**2020**
**£**
41,538
-
=
1,806
43,344|
|---|---|---|
No staff received salaries exceeding £60,000.
No trustees were remunerated or reimbursed expenses during the year (2020 - £Nil).
10
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
**----- Start of picture text -----**
9 Tangible fixed assets
Fixtures & Motor Office
fittings vehicles equipment Total
£ £ £ £
Cost
At 1 April 2020 7,022 11,660 8,180 26,862
Additions - 17,000 - 17,000
At 1 April 2020 & 31 March 2021 7,022 28,660 8,180 43,862
Depreciation
At 1 April 2020 6,791 11,016 7,599 25,406
Charge for the year 58 161 145 364
At 31 March 2021 6,849 11,177 7,744 25,770
Net book value
At 31 March 2021 173 17,483 436 18,092
At 31 March 2020 231 17,644 581 18,456
10 Investments Listed
Investments
£
Market Value at 1 April 2020 67,654
Additions at cost 7,953
Disposals at cost (7,795)
Unrealised gain in value 14,663
Market Value at 31 March 2021 82,475
Historical cost at 31 March 2021 75,906
Net gains/(losses) on investment comprise
2021 2020
£ £
Realised gains on disposals 159 (986)
Unrealised gain/(loss) on valuation 13,714 (5,567)
13,873 (6,553)
**----- End of picture text -----**
11
**WORD OF LIFE MINISTRIES UK LIMITED (A COMPANY LIMITED BY GUARANTEE)**
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
|**11**
**Debtors**
Prepayments and accrued income
Other debtors
**12**
**Creditors: amounts falling due within one year**
Taxation and social security
Accruals
**13**
**Pension and other post-retirement benefit commitments**
**Defined contribution**
Contributions payable by the company for the year
**14**
**Financial instrument**
**Carrying amount of financial assets**
Instruments measured at fair value through net income/expenditure|**2021**
**2020**
**£**
**£**
3,763
999
971
1,404
4,734
2,403
**2021**
**2020**
**£**
**£**
888
831
2,000
2,000
2,888
2,831
**2021**
**2020**
**£**
**£**
1,764
1,806
**2021**
**2020**
**£**
**£**
82,475
67,654|
|---|---|
## **15 Related party transactions**
There are no related party transactions in the year (2020 - £nil).'
The total amount of employee benefits received by key management personnel and related parties is £nil (2020 - £nil)
## **16 Movement in funds**
|**Unrestricted funds**
General funds
**Restricted funds**
Restricted funds|**At 1 April**
**2020**
**£**
73,762
-|**Income**
**£**
106,387
1,056|**Expenditure**
**£**
(51,763)
(1,056)|**Investment**
**gains**
**£**
13,873
-|
**At 31 March**
**2021**
**£**
142,259
-|
|---|---|---|---|---|---|
12