2021-03-31-accounts - Licc Limited

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	INDEX
		Page
Annual Report		1 —11
Independent Auditors'	Report	12 —10
Statement of Financial	Activities	15
Balance Sheet		16
Statement of Cash Flows		17
Notes to the Accounts		18 —30

he Board of Trustees listed below nless stated otherwise:	have continued to serve from 1 April 2020	to the date
Paul Valler (Chairman)	Victoria Lawrence (Appointed	25.02.2021)
Karen Brown	Paul Williams
Katie Harrison	Keith Wilson (Treasurer)
John Ibbett	Vanessa Wilson
Jessica Lacey	Paul Woolley (Resigned 16.07.2020)

The senior management tea	m for the year to 31.3.2021 was:	m for the year to 31.3.2021 was:
Mark Greene	Executive Director (Until 31.12.2020)
Tracy Cotterell	Managing Director, Mission (Left	31.8.2020)
Nigel Hall	Operations Director
Brian Ladd	Finance and Development Director
David Leeds	Head of Communications
Richard Montgomery	Managing Director, Organisation	(LeR 30.6.2020)
Paul Woolley	Chief Executive (from 1.1.2021)

		Unrestricted	Restricted	Endowment	2021	2020
	Notes	Funds I	Funds E	Funds E	TotalI	Total E
INCOME FROM:
Donations and legacies		1,305,229	235,516		1,540,745	1,306,887
Charitable activities		71,009			71,009	152,942
Other trading activities		2,660			2,660	39,779
Investments	4	18,961	581	3,172	22,714	24,396
Total Income		1 397859	236097	3 172	1637128	3524 004
EXPENDITURE ON:
Raising Funds	5	48,232			48,232	98,129
Charitable Activities	6	1,184,624	268,511		1,453,135	1,407,645
Total Expenditure		1232856	268511		1501367	1505774
Net Income/(Expenditure)
before gains/(losses) on
Investments	9	165,003	(32,414)	3,172	135,761	18,230
Other Recognised Gains
and Losses
Net gains/(losses) on
Investments	13	156,471	3,206	17,507	177,184	(66,087)
Net Income/(Expenditure)		321,474	(29,208)	20,679	312,945	(47,857)
Transfers between funds
Net Movement in Funds		321,474	(29,208)	20 679	3127945	(47857)
Fund balances brought forward		968,410	123,094	49904	171417408	171897265
Fund balances carried forward		E1,289,884	E93,886	E70 583	6174547353	E1141408

				2021	2021	2020	2020
			Notes	E	E	E
FIXED ASSETS
Tangible Assets			11		11,994		11,845
Intangible Assets			12		38,949		50,918
Investments			13		786 512		603 627
					837,455		666,290
CURRENT ASSETS
Stocks				29,966		33,211
Debtors			14	79,372		49,224
Cash Deposits				194,103		162,136
Cash at Bank and	in	Hand		409 442		357 511
				712,883		602,082
Creditors: Amounts		falling
due within one year			15	(95,985)		(126,964)
Net Current Assets					616,898		475,118
Total Assets less Liabilities	Current				E1,454,353		E1,141,408
Funds
Capital Funds
Endowments			17		70,583		49,904
Income Funds
Restricted Funds			18		93,886		123,094
Unrestricted Funds:
Designated Fund			19	691,994		606,852
General Fund				697 890		361668
					1,289,884		968,410
					E1,454,353		E1,141,408

		2021	2021	2020	2020
		E	E	E	E
CASH FLOWS FROM OPERATING
ACTIVITIES
Net income/(expenditure) for the year		312,945		(47,857)
Adjustments for:
Depreciation charges		7,285		5,858
Loss on disposal of fixed assets
Amortisation charges		11,969		8,925
Interest		(22,714)		(24,396)
Accumulated income		(5,801)		(6,835)
(Gains)/losses on investments		(177,184)		66,087
(Increase)/decrease in stocks		3,245		(6,'i14)
(Increase)/decrease in debtors Increase/(decrease) in creditors		(30,148) ~39979		11,176 ~94 134
NET CASH PROVIDED BY(USED			68,618		(47,590)
IN) OPERATING ACTIVITIES
CASH FLOWS FROM INVESTING
ACTIVITIES
Interest and dividends received		22,714		24,396
Purchase of tangible fixed assets		(7,434)		(7,883)
Purchase of intangible fixed assets Purchase of investments				(31,010) ~151723
NET CASH (USED IN) PROVIDED
BYINVESTING ACTIVITIES			15,280		(166,220)
Change in cash and cash equivalents	in
the year			83,898		(213,810)
Cash and cash equivalents at the
beginning ofthe year			519,647		733,457
Cash and cash equivalents at the end ofthe year			E603,545		E519,647

	Total	Total
	2021	2020
	E	E
Bank Interest	1,575	2,826
Income from Fixed Asset Investments	21 139	21 579
	922 714	924 399
AISING FUNDS
	Total	Total
	2021	2020
	E	E
Direct Staff Costs	27,308	47,003
Other Direct Costs	3,175	16,631
Support Costs (See Note 7)	17 749	34 495
	E48,232	E98,129
All costs of raising funds are unrestricted.

											Total	Total
											2021	2020
											E	E
Direct Staff	Costs										771,664	662,840
Other Direct		Costs									179,937	258,353
Support Costs (See Note			7)								501 534	486 452
											E1,453,135	E1,407,645
SUPPORT COSTS
				Raising						Charitable	Total	Total
					Funds					Activities	2021	2020
							E			E	E	E
Staff Costs					7,513					212,314	219,827	205,651
Premises Costs					3,713					104,935	108,648	96,828
Office Costs					1,320					37,303	38,623	47,217
Governance						145				4,104	4,249	3,917
Other Costs					5	058				142878	147 936	167 334
				E17		749				E501 534	E519283	E520 947
STAFF COSTS
											Total	Total
											2021	2020
											E	E
Gross Salary		Costs									854,471	761,067
NIC Employer's											83,953	78,252
Pension Employer's											80 374	76 175
											E1,018,798	E915,494
The average		headcount	during	the year				was:			21.3	19.8
The average number			of	staff			(full		time
equivalent)	during the year was:										19.3	18.1
The total		employee	benefits		of			the	Key
Management		Personnel	ofthe	Charity,			defined as
the Senior Management			Team	as	identified				in the
Trustee Report were:											E3511184	E231 662

his is stat	ed after charging:
		Total	Total
		2021	2020
		E	E
Auditors'	remuneration
Statutory	audit —current year	3,350	3,917
Depreciation		7,285	5,858
Amortisation		11969	8 925

	Fixtures 86	Office	Computer
	Fittings	Equipment	Equipment	Total
	E	E	E	E
Cost
At start of year	17,586	37,499	42,474	97,559
Additions Disposals		~2496	7,434 ~19657	7,434 ~22 153
At 31"March 2021	17 586	35 003	30 251	82 840
Depreciation
At start of year	16,824	35,274	33,616	85,714
Charge for the year Dispose Is	121	1,483 ~2496	5,681 ~19657	7,285 ~22 153
At 31s March 2021	16 945	34261	19640	70 846
Net Book Values
At 31s March 2021	E641	E742	E10611	E11994
At 1s April 2020	E762	E2 225	E8 858	E11845

	CRM System
	E
Cost
At start of year	59,843
Additions
Disposals
At 31"March 2021	59 843
Amortisation
At start of year	8,925
Charge for the year	11,969
Disposals
At 31"March 2021	20 894

At	31"March 2021	E38 949
At	1"April 2020	E50918

Total	Total
2021	2020
E	E
603,527	511,056
5,801	158,558
177184	~66087
E786,512	E603,527

					2020
				Market		Market
			Cost	Value	Cost	Value
			E	E	E	E
BlackRock		Common
Investment		Fund	89,133	134,451	89,133	107,973
M 86 G Charifund			138,568	139,461	132,765	107,485
CCLA COIF			126,500	175,633	126,500	145,511
Epworth	AIF		78,986	80,553	78,986	64,185
Sarasin	Alpha CIF		126,500	164,019	126,500	135,827
Endava	pic		31723	92 395	31723	42 546
			6591410	E786 512	E585 607	E603 527

DEBTORS
				Total	Total
				2021	2020
				E	E
Due Within One Year
Trade Debtors				200	6,512
Prepayments	and accrued		income	74,988	33,952
Other Debtors				4 184	8760
				E79 372	E49 224
REDITORS:	Amounts	falling due within one year
				Total	Total
				2021	2020
				E	E
Trade Creditors				7,705	32,313
PAYE and Social Security			costs	26,896	23,234
Accruals and Deferred Income				61384	71417
				E99986	6126 964

				E
As at 1s	April 2020			35,705
Released	to the Statement	of Financial	Activities	(35,705)
Deferred	in the current year			10487
As at 31s March 2021				E10 487

2021				Balance at 1"	Movement	in Funds	Balance at31"
				April 2020	Income	Gains/	March 2021
						(Losses) on
						InvestmentsI
Endowment	Fund	82	Legacy
Contingency	Fund			49,904	3,172	17,507	70,583
				E49,904	E3 172	E17507	E70 5113
2020				Balance at 1"	Movement	in Funds	Balance at31"
				April 2019	Income	Gains/	March 2020
						(Losses) on
						InvestmentsI
Endowment	Fund	82	Legacy
Contingency	Fund			59,820	2 323	(12,239)	49,904
				E59920	12 323	~E 12,239	599909

2021
				Balance at 1"April	Income	Expenditure	Transfers/ Gains on		Balance at 31~
				2020			Investments		March
									2021
									E
Principal		trust funds
Dick Bird		Fund		9 140	581	4 979		3206	7948
				9,140	581	(4,979)		3,206	7,948
Otherfunds
Imagine		Project			27,926	(27,926)
The Workplace					18,353	(18,353)
Bible ik Culture					18,215	(18,215)
CRM System				56,524		(30,021)			26,503
Sustaining Disciples		Transformative		57,430	135,310	(152,475)			40,265
Growing		on the Frontline			35 712	16542			19 170
				113,954	235,516	(263,532)			85,938
				E123094	E236097	E 268 511	E3 206		E93886
2020
				Balance at 1aApril	Income	Expenditure	Transfers/ Gains on		Balance at 31~
				2019			Investments		March
									2020
									E
Principal		trust funds
Dick Bird		Fund		16926	657	4 980	3463		9 140
				16,926	657	(4,980)	(3,463)		9,140
Otherfunds
Imagine	Project				65,355	(65,355)
The Workplace					83,584	(83,584)
Bible 8r Culture					27,675	(27,675)
Core Concept			Filming	1,927		(1,927)
CRM System				137,124	100	(80,700)			56,524
Sustaining Disciples		Transformative			191,290	(133,860)			57,430
				139,051	368,004	(393,101)			113,954
				E155977	E368661	E 398081	E 3 463		E123094

ESIGNATED FUNDS
2021		Balance at	Income	Utilised	Transfers/	Balance at
		31»March	And New	During	Gains on	31»March
		2020	Allocations	Year	Investments	2021
		E	E	E	E	E
Baker Fund		10,007	636	(14,154)	3,511
Resource Development Infrastructure	66	250,000	125,000			375,000
Setting God's People Free Project		150,000				150,000
Premises Reserve		125,000				125,000
Staff Recruitment		60,000		(30,000)		30,000
Fixed Asset Fund		11845	149			11994
		6666 852	E125 785	~E44 154	E3 511	6691994

DESIGNATED FUNDS	(con	tinued)
2020		Balance at	Income	Utilised	Transfers/	Balance at
		1»April 2019	And New Allocations	During Year	Gains on Investments	31»March 2020
		E	E	E	E	E
Baker Fund		33,894	1,316	(18,269)	(6,934)	10,007
Resource Development Infrastructure	86	250,000				250,000
Setting God's People Free Project		175,000		(25,000)		150,000
Premises Reserve		60,000	65,000			125,000
Staff Recruitment			60,000			60,000
Fixed Asset Fund		9820 6528 714	2 025 E128 341	~643 269	~66 934	11845 5606 852

NALYSIS	OF NET ASS	ETS BET	WEEN FUNDS
			Unrestricted	Restricted	Endowment
			Funds	Funds	Funds	Total
			E.	E	E	E
Fund balances at 31»		March
2021are represented		by
Tangible Fixed Assets			11,994			11,994
Intangible	Fixed Assets		38,949			38,949
Investments			707,981	7,948	70,583	786,512
Net Current	Assets		530960	85938		616898
Net Total	Net Assets		EI 289 884	E93886	E70 583	E1 454 353

			Unrestricted	Restricted	Endowment	2020	2019
			Funds	Funds	Funds	Total	Total
		Notes	E	E	6	6	E
INCOME FROM:
Donations and legacies			938,883	368,004		1,306,887	1,331,718
Charitable activities			152,942			152,942	121,917
Other trading activities			39,779			39,779	44,136
Investments			21,416	657	2,323	24,396	20,719
Total Income			1 153020	368 661	2 323	1524 004	1510490
EXPENDITURE ON:
Raising Funds		5	98,129			98,129	83,417
Charitable Activities		6	1,009,564	398,081		1,407,645	1,330,456
Total Expenditure			1 107693	398081		1505774	1413873
Net Income/(Expenditure)
before gains/(losses)	on
Investments		9	45,327	(29,420)	2,323	183230	1047617
Other Recognised	Gains
and Losses
Net gains/(losses) on
Investments		13	(50,385)	(3,463)	(12,239)	(66,087)	17,054
Net Income/(Expenditure)			(5,058)	(32,883)	(9,916)	(47,857)	121,671
Transfers between funds
Net Movement in Funds			(5,058)	(32,883)	(9,916)	(47,857)	121,671
Fund balances brought forward			973,468	155,977	59,820	1,189,265	1,067,594
Fund balances carried forward			E968,410	F123,094	649,904	61,141,408	61,189,265