2021-03-31-accounts

				Page
Reference and administrative		details ofthe Company,	its Trustees and advisers	1-2
Trustees' report				3-19
Independent auditors'	report	on the financial statements		20-23
Statement offinancial	activities			24
Balance sheet				25
Statement ofcash flows				26
Notes to the financial	statements			27-47

Executive	Team	Team	Bishop Tedroy Powell,	Chief Executive Officer	Chief Executive Officer
			Rev M Wilson, Corporate Administrator
			Mrs A Taylor, Trustee
			Rev BMorris, Corporate Treasurer
			Ms A Mason, Office Manager
			Mrs JFletcher, Communications		Director (Co-optee)
			D Orgill, Interim Corporate Accountant
			Rev A Reid, Trustee
			Rev P McCalla, Regional Overseer
			Rev RVeira, Regional	Overseer
			Rev EWilliams, Regional Overseer
			Rev JAtherley, Regional Overseer
			Rev L Rowe, Regional	Overseer
			Rev D Bailey, Regional	Overseer
			Rev P Rochester, Regional Overseer
			Rev KSchafer, Regional Overseer
			Rev LGraham, Pastor	(Co-optee)
			Rev N Fletcher, Pastor	(Co-optee)
Company	secretary		Audrey Taylor
Independent		auditors	PKF Smith Cooper Audit Limited
			Statutory Auditors &Chartered		Accountants
			158Edmund Street
			Birmingham
			832HB
Bankers			National Westminster	Bank
			2St. Phillips Place
			Birmingham
			West Midlands
			B32RB
			Barclays Bank pic
			PO Box 16294
			1-2Trinity
			Chingford
			E4BUS
Solicitors			Harris & Harris
			14Market Place
			Wells
			Somerset
			BAS2RE

				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
				2021	2021	2021	2020
			Note	8
Income from:
Donations and legacies				2,912,012		2,912,012	3,209,492
Charitable activities				802,705		802,705	981,781
Investments				52,423		52,423	74,830
Total income				3,767,140		3,767,140	4,266,103
Expenditure on:
Charitable activities				3,380,801		3,380,801	4,008,371
Total expenditure				3,380,801		3,380,801	4,008,371
Net movement in	funds before other
recognised gains/(losses)				386,339		386,339	257,732
Other recognised	gains/(losses):
Impairment offixed	asset held for sale						(55,000)
Investment property	revaluation	gain	13	185,726		185,726	196,000
Net movement in	funds			572,065		572,065	398,732
Reconciliation of	funds:
Total funds brought	forward			12,701,439	577,579	13,279,018	12,880,285
Net movement in funds				572,065		572,065	398,732
Total funds carried forward				13,273,504	577,579	13,851,083	13,279,018

				2021 6	2020f
Cash flows from operating	activities
Net cash used in operating	activities			763,529	469,747
Cash flows from investing	activities
Proceeds from the sale ofassets held for sale				220,000
Purchase oftangible fixed assets				(301,809)	(255,528)
Net cash used in investing	activities			(81,809)	(255,528)
Cash flows from financing	activities
Repayments of borrowing				(50,193)	(89,917)
Bank interest paid				(39,086)	(45,450)
Net cash used in financing	activities			(89,279)	(135,367)
Change in cash and cash	equivalents in	the year		592,441	78,852
Cash and cash equivalents	at the beginning	ofthe year		3,088,938	3,010,086
Cash and cash equivalents	at the end of	the year		3,681,379	3,088,938
The notes on pages 27to47 form part ofthese financial			statements

	Unrestricted	Total
	funds	funds
	2021	2021
		6
Donations	2,810,047	2,810,047
Grants	101,965	101,965
	2,912,012	2,912,012

Unrestricted	Total
funds	funds
2020	2020f
3,209,492	3,209,492

		Unrestricted	Total
		funds	funds
		2021	2021
Ministries		510,910	510,910
Other income from charitable	ac5vitles	291,795	291,795
		802,705	802,705

		Unrestricted	Total
		funds	funds
		2020 6	2020f
Ministries		619,568	619,568
Other income from charitable	activities	362,213	362,213
		981,781	981,781

					Unrestricted	Total
					funds	funds
					2021 5	2021f
Rental	income	- local	investment	properties	52,423	52,423
					Unrestricted	Total
					funds	funds
					2020	2020f
Rental	income	- local	investment	properties	74,830	74,830

	Unrestricted	Total
	funds	funds
	2021	2021
	6	8
Worship/Ministries	694,165	694,165
Discipleship	381,341	381,341
Social Action	241,835	241,835
Stewardship	1,455,431	1,455,431
Mission	316,070	316,070
Nursery	291,959	291,959
	3,380,801	3,380,801
	Unrestricted	Total
	funds	funds
	2020	2020
	5
Worship/Ministries	1,217,726	1,217,726
Discipleship	393,615	393,615
Social Action	167,668	167,668
Stewardship	1,583,468	1,583,468
Mission	327,979	327,979
Nursery	317,915	317,915
	4,008,371	4,008,371

	Activities
	undertaken	Support	Total
	directly	costs	funds
	2021	2021	2021
	E		E
Worship/Ministries	694,165		694,165
Discipleship	381,341		381,341
Social Action	241,835		241,835
Stewardship	546,996	908,435	1,455,431
Mission	316,070		316,070
Nursery		291,959	291,959
	2,180,407	1,200,394	3,380,801
	Activities
	undertaken	Support	Total
	directly	costs	funds
	2020	2020f	2020 5
Worship/Ministries	1,217,726		1,217,726
Discipleship	393,615		393,615
Social Action	167,668		167,668
Stewardship	700,001	883,467	1,583,468
Mission	327,979		327,979
Nursery		317,915	317,915
	2,806,989	1,201,382	4,008,371

					Steward-		Total
					ship	Nursery	funds
					2021	2021	2021
					6	6
Staff costs					529,851	202,395	732,246
Depreciation					276,305	7,187	283,492
Interest of	property		loans		39,086		39,086
Accountancy						2,874	2,874
Legal and	professional			fees		6,573	6,573
Other nursery		costs				72,930	72,930
Governance		costs			63,193		63,193
					908,435	291,959	1,200,394
							Total
					Stewardship	Nursery	funds
					2020	2020	2020
							6
Staff costs					528,909	212,147	741,056
Depreciation					254,839	5,281	260,120
Interest on	property		loans		45,639		45,639
Accountancy						2,670	2,670
Legal and	professional			fees		2,630	2,630
Bank charges						33	33
Other nursery		costs				95,154	95,154
Governance		costs			54,080		54,080
					883,467	317,915	1,201,382
Auditors'	remuneration
						2021 6	2020f
Fees payable		(excluding		VAT) to the Company's	auditor for the audit ofthe
Company's	annual		accounts			17,250	16,750

Staffcosts
				2021	2020
				8	6
Wages and	salaries			1,457,013	1,478,245
Social security costs				90,811	92,961
Contribution	to defined	contribution	pension schemes	39,204	44,856
				1,587,028	1,616,062

2021	2020
No.	No.
109

		2021	2020
		No.	No.
Presiding	Bishop	1	1
Pastors		26	26
Other staff		27	27
		54	54

	Land and	Motor	Fixtures	Church	Nursery
	buildings	vehicles	and fittings	contents	assets	Total
	6	6			6	6
Cost
At 1 April 2020	9,998,433	180,581	627,411	1,325,276	116,573	12,248,274
Additions	52,408	~	13,471	117,056		182,935
At 31 March 2021	10,050,841	180,581	640,882	1,442,332	116,573	12,431,209
Depreciation
At 1 April 2020	1,110,583	162,064	569,260	1,075,071	87,837	3,004,815
Charge for the year	200,402	7,892	16,631	51,380	7,187	283,492
At 31 March 2021	1,310,985	169,956	585,891	1,126,451	95,024	3,288,307
Net book value
At 31 March 2021	8,739,856	10,625	54,991	315,881	21,549	9,142,902
At 31March 2020	8,887,850	18,517	58,151	250,205	28,736	9,243,459
The net book value of land and buildings		may be further analysed		as follows:
					2021	2020
Freehold					6,689,527	5,826,596
Leasehold					2,019,611	2,061,254
					8,709,138	8,887,850

	Freehold
	investment
	property 6
Valuation
At 1 April 2020	1,520,000
Additions	119,274
Surplus on revaluation	185,726
At 31 March 2021	1,825,000

		2021	2020
		6	6
Due after more than one year
Other debtors		40,000	40,000
		40,000	40,000
Due within one year
Trade debtors		30,725	17,808
Other debtors		38,389	32,162
Prepayments	and accrued income	6,374	24,821
		115,488	114,791

			2021	2020
				8
Bank loans			128,488	96,818
Trade creditors			43,198	56,746
Other taxation and social security			28,039	28,008
Obligations under finance lease and hire purchase		contracts	10,078	f0,078
Other creditors			84,046	41,323
Accruals and deferred	income		126,222	99,719
			420,071	332,692

			2021	2020
				6
Bank loans			324,859	406,481
Other loans			144,300	'/36, 700
Net obligations	under finance lease and hire purchase	contracts	24,456	32,297
			493,615	575,478

				2021	2020
				6	6
Payable	or	repayable	by instalments	324,859	406,481
Payable	or	repayable	other than by instalments	144,300	136,700
				469,159	543,181

				2021 6	2020 f
Financial	assets
Financial	assets measured	at amortised	cost	109,114	89,970
				2021	2020f
Financial	liabilities
Financial	liabilities measured	at amortised	cost	752,390	766,076

Summary offunds - current ye	ar
						Balance at
	Balance at 1				Gains/	31 March
	April 2020 6	Income 6		Expenditure f	(Losses) 6	2021 6
General funds	12,701,439	3,767,140		(3,380,801)	185,726	13,273,504
Restricted funds	577,579					577,579
	13,279,018	3,767,140		(3,380,801)	185,726	13,851,083
Summary offunds - prior year
						Balance at
	Balance at				Gainst	31March
	1April 2019	income E		Expenditure f	(Losses)	2020 E
General funds	12,302,707	4,266,	103	(4,008,371)	141,000	12,701,439
Restricted funds	577,579					577,579
	12,880,286	4,266,	103	(4,008,371)	141,000	13,279,018
Analysis ofnet assets between funds
Analysis ofnet assets between funds - current		year
				Unrestricted	Restricted	Total
				funds	funds	funds
				2021	2021	2021
				6	6	6
Tangible fixed assets				9,112,184		9,112,184
Investment property				1,825,000		1,825,000
Debtors due after more than one year				40,000		40,000
Current assets				3,210,006	577,579	3,787,585
Creditors due within one year				(420,071)		(420,071)
Creditors due in more than one year				(493,615)		(493,615)
Total				13,273,504	577,579	13,851,083

Analysis	ofnet assets between	funds ~prior y	ear
			Unn:stricted	Restricted	Total
			funds	funds	funds
			2020f	2020f	2020f
Tangible fixed assets			9,243,459		9,243,459
Investment	property		1,520,000		1,520,000
Debtors due after more than one		year	40,000		40,000
Current assets			2,806,150	577,579	3,383,729
Creditors	due within one year		(332,692)		(332,692)
Creditors	due in more than one year		(575,478)		(575,478)
Total			12,701,439	577,579	13,279,018
Reconciliation of net movement		in funds to net cash flow from operating		activities

						2021f	2020f
	Net income for the	year (as per Statement of Financial			Activities)	386,339	257,732
	Adjustments for:
	Depreciation charges					283,492	263,905
	Net interest paid					39,086	45,450
	(Increase) Idecrease		in debtors			(1,097)	(3,370)
	(Decrease) Iincrease		in creditors			55,709	(93,970)
	Net cash provided	by operating		activities		763,529	469,747
22.	Analysis ofcash	and	cash equivalents
						2021 f	2020 f
	Cash in hand					3,681,379	3,088,938
	Total cash and cash		equivalents			3,681,379	3,088,938

		At 1 April		At 31 March
		2020	Cash flows	2021
				E
Cash at bank and in hand		3,088,938	592,441	3,681,379
Debt due within	1 year	(96,818)	(31,670)	(128,488)
Debt due after 1 year		(543,181)	74,022	(469,159)
Finance leases		(42,375)	7,841	(34,534)
		2,406,564	642,634	3,049,198

cancell	ab	le operating leases as follows:
			2021	2020
			6	6
Within	1	year	10,525	17,419
Between		1 and 5years	8,137	16,607
			18,662	34,026

			2021	2020
			6
Operating	lease	rentals	36,207	124,062