Registered number: 2102612 Charity number: 296794
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 21 |
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021
Trustees
Rev. A. R. Reynolds, Chair Rev. H. Palmer Rt. Rev. W. P. Benn Rev. Dr. M. E. Burkill Rev. G. C. Lewis Mr. T. R. Thornborough
Company registered number
2102612
Charity registered number
296794
Registered office
14 Silverleigh Road Thornton Heath Surrey CR7 6DU
Accountants
Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Bankers
The Co-operative Bank p.l.c Business Direct Kings Valley Yew Street Stockport Cheshire SK4 2JU
Page 1
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their annual report together with the financial statements of the Evangelicals Now Limited for the year 1 April 2020 to 31 March 2021. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
Objectives and activities
a. Policies and objectives
The object of the charity is the advancement of the Evangelical Christian faith. The principal activity carried out in order to fulfil this object is the production of a periodical sharing news of Christians across the world and promoting Biblical Truths.
The charity benefits both its regular readers, Christians seeking to improve how they put the Evangelical Christian faith into practice, and those within the wider community as Christians are encouraged to love their neighbours.
Achievements and performance
a. Key performance indicators
The independently examined accounts reflect a significant trading loss. The COVID pandemic has had a significant effect on advertising revenues. Many adverts carried by the paper are related to events which were cancelled as a result of lockdown restrictions. The Directors are satisfied that the losses have been minimised and are adequately covered by surplus reserves. In the last few months of trading we have seen the number of pages of adverts carried begin to increase again. Costs have been carefully controlled and are stable once more.
Page 2
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Achievements and performance (continued)
b. Review of activities
Through the periodical, the charity has met its objectives by reporting news from the UK and around the world which brings attention to situations of need and gently prompts people to prayer and charitable giving and involvement. Our new Senior Editor has a background in secular news journalism and has brought his professional experience to bear on the newspaper as a whole and not least in the range of news that we carry. We have broadened the spread of countries that we carry news on in part by seeking out people living overseas to bring us news in a ‘Letter from … ‘ format to give us first-hand accounts of what is happening in the Christian world in their country.
Over the past twelve months, the charity has also continued to publish a wide range of articles to encourage, inform and equip the readers of Evangelicals Now. Articles have looked at: the sense of isolation that teenagers in churches feel and how we can help; Tim Farron’s views on liberalism as a Christian MP and former leader of the Liberal Democrat party; the pick of the best Christian books of 2020; the thoughts of a number of key evangelicals as they looked ahead to 2021; the importance of transparency in our church structures and leadership; the mental health of teenagers; the work of reconciliation in the Middle East by the organisation Musahala; celebrating the centenary of John Stott and his legacy; how we respond to a sense of God’s calling on our lives; how the faith of the Chibok girls sustained them through their kidnapping by Boko Haram; living with Alzheimer’s; where our ultimate accountability lies; fifty years on from the Festival of Light and the work of the organisation CARE that sprang from it; the story of Claud Jackson who went from a life of gangs and drug dealing to full time Christian ministry.
The charity also publishes a number of regular columns in the periodical. These include reviews of Christian digital media; children’s books and music resources. Columns for parents and those involved with youthwork. A look back at some key figures in church history and what we can learn from them; for those with an interest in the world of secular arts and media a column that reviews exhibitions, TV shows, and music from a Christian perspective and another that gives practical help as we seek to share the good news of Jesus; a Biblical counselling column that highlights difficult pastoral situations and how we can help; one which looks at what is happening for Christians in our legal system and a column that highlights the evidence for the Christian faith.
The newspaper is made available in hard copy through bookshops, churches and by individual subscription as well as through some Christian conferences. The cover price for the printed copy is kept to a minimum and is currently £1.25 per monthly issue. The online version of the newspaper, including all the UK and world news, has made it more accessible to everyone and more attractive to the ‘digital’ generation of readers. The online version is available free of charge to subscribers to the printed newspaper and can be subscribed to directly for the reduced price of £10 per year.
Financial review
a. Going concern
The significant drop off in advertising income has been covered by surplus reserves and the Directors expect the paper to return to break even during the current year, notwithstanding any further investment that is agreed. There is also the opportunity to increase both cover price (which has remained historically low) and advertising rates. The combination of these factors, together with continued healthy reserves, lead the Directors to conclude that the business is a going concern.
In addition, the trustees have considered the possibility of selling our freehold property and renting office space or encouraging staff to work from home as another means of releasing capital should it be required.
Page 3
EVANGELICALS NOW LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
(A company limited by guarantee)
b. Reserves policy
The directors have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the charity should be at least 2 months of resources expended. At this level the directors feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding. The free reserves now represent approximately 9 months of resources expended.
c. Plans for future periods
Evangelicals Now plans to continue to advance the Evangelical Christian faith by publishing news of Christians from around the world, promoting biblical truth and encouraging Christians to put their faith into practice to the benefit of their neighbours and society as a whole. Our print publication continues to be our premium product, but we Increasingly see the need to Invest In an updated online offering to secure the future of the paper. The Directors are confident that we have the free reserves to invest in this way.
Structure, governance and management
a. Constitution
Evangelicals Now Limited is established as a company limited by guarantee with around 40 members who have each guaranteed £1 while remaining in membership and for one year thereafter. The affairs of the company are governed by its memorandum and articles of association. The company is also registered as a charity with the Charity Commission.
b. Methods of appointment or election of Trustees
A new trustee must be either recommended by the board or proposed by a member in writing to the Company Secretary at least 4 weeks prior to the AGM. The Board then need to give written notice to all the members 3 weeks prior to the AGM of the people proposed. Their appointment to the board is then ratified by the members at the AGM. The members also have the power to vote to alter the number of trustees and the rotation rate.
c. Organisational structure and decision-making policies
The board of trustees typically meets once a year but more frequently if required. The trustees rotate 3 per year. A retiring trustee is eligible for re-election and will be re-elected unless they decide they do not wish to be or board agrees not to. By extraordinary resolution a trustee can be removed before he comes up for rotation and the board can appoint a new one in his place for the remaining time that the outgoing trustee had to serve.
Page 4
EVANGELICALS NOW LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Rev. A. R. Reynolds (Chair of Trustees) Date: 24 November 2021
Page 5
EVANGELICALS NOW LIMITED (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021
Independent examiner's report to the Trustees of Evangelicals Now Limited ('the company')
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2021.
Responsibilities and basis of report
As the Trustees of the company (and 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').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). 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:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report 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 Trustees as a body, for my work or for this report.
Signed: Dated: 30 November 2021 Richard Hill FCA Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS
Page 6
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 956 138,463 1,156 140,575 182,727 182,727 (42,152) 267,301 225,149 |
Total funds 2021 £ 956 138,463 1,156 140,575 182,727 182,727 (42,152) 267,301 225,149 |
Total funds 2020 £ 220 193,143 1,066 |
|---|---|---|---|
| 194,429 | |||
| 182,051 | |||
| 182,051 | |||
| 12,378 | |||
| 254,923 | |||
| 267,301 |
The notes on pages 9 to 21 form part of these financial statements.
Page 7
EVANGELICALS NOW LIMITED (A company limited by guarantee) REGISTERED NUMBER: 2102612
BALANCE SHEET AS AT 31 MARCH 2021
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 14 Total net assets Charity funds Unrestricted funds 16 Total funds |
2021 £ 16,190 171,855 188,045 (50,880) |
2021 £ 90,906 137,165 228,071 (2,922) 225,149 225,149 225,149 |
2020 £ 21,797 196,574 218,371 (41,298) |
2020 £ 92,701 177,073 269,774 (2,473) 267,301 267,301 267,301 |
|---|---|---|---|---|
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Rev. A. R. Reynolds (Chair of Trustees) Date: 24 November 2021
The notes on pages 9 to 21 form part of these financial statements.
Page 8
EVANGELICALS NOW LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. General information
Evangelicals Now Limited is a charitable company limited by guarantee without share capital, incorporated in the United Kingdom and registered in England and Wales, registered number 2102612. The address of its principle office is 14 Silverleigh Road, Thornton Heath, Surrey, CR7 6DU.
The financial statements are prepared in sterling, which is the presentation currency of the charitable company, and are rounded to the nearest £1.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Evangelicals Now Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Company status
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
2.3 Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the next twelve months. For this reason they continue to adopt the going concern basis in preparing the financial statements.
2.4 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Page 9
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
EVANGELICALS NOW LIMITED (A company limited by guarantee)
2. Accounting policies (continued)
2.5 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Subscription and advertising revenue is in respect of a monthly publication and is credited to the accounts in accordance with the date of the publication. Subscription and advertising revenue relating to periods after the balance date is treated as deferred income and is included in creditors.
Other incoming resources are credited to the accounts when received.
2.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those costs incurred in support of the direct expenditure on the objects of the company. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
2.7 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
2.8 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
- Fixtures and fittings 25% reducing balance basis
The company owns a freehold property which is not depreciated as the residual value of the freehold property, and in particular the land, would mean that any depreciation charge arising on the cost of the property would be highly immaterial.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 10
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
2. Accounting policies (continued)
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
2.12 Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
3. Income from donations and legacies
| Unrestricted funds 2021 £ Donations 956 Unrestricted funds 2020 £ Donations 220 |
Total funds 2021 £ 956 |
|---|---|
| Total funds 2020 £ 220 |
Page 11
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
4. Charitable activities
Charity trading income
| Unrestricted funds 2021 £ Subscriptions 68,631 Advertising revenue 69,832 138,463 Unrestricted funds 2020 £ Subscriptions 86,287 Advertising revenue 106,856 193,143 Investment income Unrestricted funds 2021 £ Investment income 1,156 Unrestricted funds 2020 £ Investment income 1,066 |
Total funds 2021 £ 68,631 69,832 |
|---|---|
| 138,463 | |
| Total funds 2020 £ 86,287 106,856 |
|
| 193,143 | |
| Total funds 2021 £ 1,156 |
|
| Total funds 2020 £ 1,066 |
5. Investment income
Page 12
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
6. Analysis of expenditure on charitable activities
Summary by fund type
| Production of a Christian periodical Production of a Christian periodical Analysis of expenditure by activities Production of a Christian periodical Production of a Christian periodical |
Unrestricted funds 2021 £ 182,727 Unrestricted funds 2020 £ 182,051 Activities undertaken directly 2021 Support costs 2021 £ £ 122,424 60,303 Activities undertaken directly 2020 Support costs 2020 £ £ 116,838 65,213 |
Total funds 2021 £ 182,727 |
|---|---|---|
| Total funds 2020 £ 182,051 |
||
| Total funds 2021 £ 182,727 |
||
| Total funds 2020 £ 182,051 |
7. Analysis of expenditure by activities
Page 13
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
7. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs (50%) & salary and pension costs of editor Printing Distribution and carriage expenses Sundy productions costs Website maintenance Travel and subsistence Contributors fees Staff costs (50%) & salary and pension costs of editor Printing Distribution and carriage expenses Sundy productions costs Website maintenance Travel and subsistence Contributors fees |
Activities 2021 £ 60,805 21,382 35,600 3,391 449 77 720 122,424 Activities 2020 £ 52,389 23,591 33,968 5,676 660 104 450 116,838 |
Total funds 2021 £ 60,805 21,382 35,600 3,391 449 77 720 |
|---|---|---|
| 122,424 | ||
| Total funds 2020 £ 52,389 23,591 33,968 5,676 660 104 450 |
||
| 116,838 |
Page 14
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs (50%) Advertising and exhibition costs Heat, light, council tax, water and insuranc Stationery, postage, telephone and fax Bank interest and charges Computer expenses Legal and professional charges Sundry expenses Depreciation of owned fixed assets Governance costs Staff costs (50%) Advertising and exhibition costs Travel expenses Heat, light, council tax, water and insuranc Stationery, postage, telephone and fax Bank interest and charges Computer expenses Legal and professional charges Sundry expenses Depreciation of owned fixed assets Governance costs |
Activities 2021 £ 37,823 1,044 2,961 7,429 4,101 452 885 739 2,259 2,610 60,303 Activities 2020 £ 36,270 1,075 321 3,156 9,529 4,049 791 35 5,134 2,160 2,694 65,214 |
Total funds 2021 £ 37,823 1,044 2,961 7,429 4,101 452 885 739 2,259 2,610 |
|---|---|---|
| 60,303 | ||
| Total funds 2020 £ 36,270 1,075 321 3,156 9,529 4,049 791 35 5,134 2,160 2,694 |
||
| 65,214 |
Page 15
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
8. Independent examiner's remuneration
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Independent examiner's fees | 2,610 | 2,693 |
9. Staff costs
| Other salary and pension costs Salary and pension costs for editor |
2021 £ 75,647 22,981 98,628 |
2020 £ 72,540 16,119 |
|---|---|---|
| 88,659 |
The average number of persons employed by the company during the year was as follows:
| 2021 | 2020 |
|---|---|
| No. | No. |
| 3 | 3 |
No employee received remuneration amounting to more than £60,000 in either year.
The Managing Editor and the charity's administrator are considered the key management personnel of the charity. The total remuneration in this category amounted to £64,658 (2020 - £56,169).
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL).
Page 16
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
11. Tangible fixed assets
| Cost At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 12. Debtors Due within one year Trade debtors VAT Prepayments |
Freehold property £ 87,180 - 87,180 - - - 87,180 87,180 |
Fixtures and fittings £ 69,116 463 69,579 63,595 2,258 65,853 3,726 5,521 2021 £ 15,116 802 272 16,190 |
Total £ 156,296 463 |
|---|---|---|---|
| 156,759 | |||
| 63,595 2,258 |
|||
| 65,853 | |||
| 90,906 | |||
| 92,701 | |||
| 2020 £ 20,300 1,212 285 21,797 |
Page 17
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
13. Creditors: Amounts falling due within one year
| Other taxation and social security Other creditors Accruals and deferred income Deferred income at 1 April 2020 Resources deferred during the year Amounts released from previous periods Deferred income at 31 March 2021 |
2021 £ 1,973 2,969 45,938 50,880 2021 £ 36,291 43,771 (33,818) 46,244 |
2020 £ 2,723 2,156 36,419 |
|---|---|---|
| 41,298 | ||
| 2020 £ 39,777 32,876 (36,362) |
||
| 36,291 |
14. Creditors: Amounts falling due after more than one year
| Deferred income Financial instruments Financial assets Financial assets measured at fair value through income and expenditure |
2021 £ 2,922 2021 £ 171,855 |
2020 £ 2,473 |
|---|---|---|
| 2020 £ 196,574 |
15. Financial instruments
Financial assets measured at fair value through income and expenditure comprise of cash in bank and at hand.
Page 18
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
16. Statement of funds
Statement of funds - current year
| Designated funds Freehold property designated fund General funds General Funds Total Unrestricted funds Statement of funds - prior year Unrestricted funds Designated funds Freehold property designated fund General funds General Funds Total Unrestricted funds |
Balance at 1 April 2020 £ 87,180 180,121 267,301 Balance at 1 April 2019 £ 87,180 167,743 254,923 |
Income £ - 140,575 140,575 Income £ - 194,429 194,429 |
Expenditure £ - (182,727) (182,727) Expenditure £ - (182,051) (182,051) |
Balance at 31 March 2021 £ 87,180 |
|---|---|---|---|---|
| 137,969 | ||||
| 225,149 | ||||
| Balance at 31 March 2020 £ 87,180 |
||||
| 180,121 | ||||
| 267,301 |
Page 19
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
17. Summary of funds
Summary of funds - current year
| Designated funds General funds Summary of funds - prior year Designated funds General funds |
Balance at 1 April 2020 £ 87,180 180,121 267,301 Balance at 1 April 2019 £ 87,180 167,743 254,923 |
Income £ - 140,575 140,575 Income £ - 194,429 194,429 |
Expenditure £ - (182,727) (182,727) Expenditure £ - (182,051) (182,051) |
Balance at 31 March 2021 £ 87,180 137,969 |
|---|---|---|---|---|
| 225,149 | ||||
| Balance at 31 March 2020 £ 87,180 180,121 |
||||
| 267,301 |
Page 20
EVANGELICALS NOW LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2021 £ Tangible fixed assets 90,906 Current assets 188,045 Creditors due within one year (50,880) Creditors due in more than one year (2,922) Total 225,149 |
Total funds 2021 £ 90,906 188,045 (50,880) (2,922) 225,149 |
|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2020 £ 92,701 218,371 (41,298) (2,473) 267,301 |
Total funds 2020 £ 92,701 218,371 (41,298) (2,473) 267,301 |
|---|---|---|
19. Pension commitments
The charity operates a defined contribution pension scheme. The charity currently pays 5% of gross salary into the personal pension plans of three qualifying members of staff. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,503 (2020 - £4,243).
Included in other creditors at the year end is an amount of £2,842 (2020 - £1,136) of outstanding pension contributions due.
Page 21