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