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|Reference and Administrative|Details||
|---|---|---|
|Chairman's
Review|||
|Trustees'
Report|||
|Independent
Auditor's
Report||16|
|Statement of FinancialActivities||20|
|Balance Sheet||21|
|Statement ofCashflows||22|
|Notes to the Financial Statements||23|
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|OR THE YEAR END|ED 5APRI|L 2021||||||
|---|---|---|---|---|---|---|---|
||||||||Restated|
||||Unrestricted|Designated|Restricted|Total|Total|
||||Funds|Funds|Funds|Funds|Funds|
||||2021|2021|2021|2021|2020|
|||Notes|E|E|E|f|E|
|Income from:||||||||
|Donations
and legacies|||426,503|||426,503|1,423,120|
|Charitable
activities|||||2,000,000|2 000000||
|Investments|||669,108|||669,108|807,262|
|Otherincome|||5,000|||5,000||
|Tota I income|||1,100,611||2,000,000|3,100,611|2,230,382|
|Expenditure
on:
Raising funds
Charitable
activities||6
7|143,512
1,564,433|2,123,420|2,000,000|143,512
5,687,853|138,402
2,218,147|
|Total expenditure|||1,707,945|2,123,420|2,000,000|5,831,365|2,356,549|
|Net (expenditure)
gains/(losses)
on|before
investments||(607,334)|(2,123,420)||(2,730,754)|(126,167)|
|Net gains/(losses)|on investments||7,509,837|||7,509,837|(3,409,465)|
|Net|||6,902,503|(2,123,420)||4,779,083|(3,535,632)|
|income/(expenditure)||||||||
|Transfers between|funds||(2,316,503)|2,316,503||||
|Net movement
in|funds||4,586,000|193,083||4,779,083|(3,535,632)|
|Reconciliation
of|funds:|||||||
|Funds
brought
forward—
restated||18,19|29,947,998|2,625,343||32,573,341|36,108,973|
|Funds carried forward||18,19|34,533,998|2,818,426||37,352,424|32,573,341|
##
|ALANCE SH
EAR ENDED|EET
5APRIL|2021||||
|---|---|---|---|---|---|
||||||Restated|
||||Notes|2021|2020|
|||||E|E|
|Fixed assets||||||
|Investments|||13|30,764,248|28,731,630|
|Social investments|||14|5,167,071|5,020,080|
|Tangible fixed assets|||15|||
|||||35,931,319|33,751,710|
|Current assets||||||
|Debtors|||16|323,505|1,020,923|
|Cash at bank and in||hand||1,193,282|2,494,446|
|||||1,516,787|3,515,369|
|Creditors: amounts||falling due within one year|17|(95,682)|(4,693,738)|
|Net current|assets /(liabilities)|||1,421,105|(1,178,369)|
|Net assets||||37,352,424|32,573,341|
|Funds||||||
|Unrestricted|funds||18,19|34,533,998|29,947,998|
|Designated|funds||18,19|2,818,426|2,625,343|
|Restricted funds|||18,19|||
|||||37,352.424|32,573,431|
##
|OR THE YEAR ENDED 5AP|RIL 2021||||||
|---|---|---|---|---|---|---|
|||||||Restated|
|||||Notes|2021|2020|
||||||f|E|
|Cash flows from operating|activities||||||
|Net cash used in operating|activities|||20|(2,858,308)|(1,847,128)|
|Cash flows from investing|activities||||||
|Investment
income|||||669,108|807,262|
|Proceeds from the sale of investments|||||17,387,093|5,374,200|
|Purchase of investments|||||(10,009,115)|(5,982,015)|
|Movement
in cash held
in|the portfolios||||(1,856,092)|699,320|
|Concessionary
loans made|||||(100,000)|(242,280)|
|Concessionary
loans repaid|||||77,750|123,401|
|Net cash provided
by investing
activities|||||6,168,744|779,888|
|Cash flows from financing|activities||||||
|Repayment
ofloans|||||(4,611,600)||
|Net cash used in financing|activities||||(4,611,600)||
|Change
in cash and cash equivalents||in the|year|21|(1,301,164)|(1,067,240)|
|Cash and cash equivalents|at the beginning||ofthe year|21|2,494,446|3,561,686|
|Cash and cash equivalents|at the end|ofthe year||21|1,193,282|2,494,446|
##
##
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##
##
##
|1|Accounting|policies (continued)|policies (continued)|policies (continued)||||
|---|---|---|---|---|---|---|---|
|(b)|Prior year|adjustment||(continued)||||
||||||6Apr 2019|6 Apr 2019|6Apr 2019|
||||||Unrestricted|Designated|Total|
||||||E|E|E|
||Reserves|as previously||stated|34,077,928|1,990,635|36,068,563|
||Accrued investment||income||40,410||40,410|
||Reserves|as restated||at 6April 2019|34,118,338|1,990,635|36,108,973|
||||||5 Apr 2020|5 Apr 2020|5 Apr 2020|
||||||Unrestricted|Designated|Total|
||||||f|E|E|
||Reserves|as previously||stated|29,906,827|2,625,343|32,532,170|
||Accrued investment||income||41,171||41,171|
||Reserves|as restated||at 6 April 2020|29,947,998|2,625,343|32,573,341|
##
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##
##
|2|Donations||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||E|f|
||Donated|investments|||170,000|250,001|
||Peter Vardy||Holdings|Limited|256,503|968,913|
||Peter Vardy||Limited|||204,206|
||||||426,503|1,423,120|
|3|Charitable||income||Restricted|Restricted|
||||||2021|2020|
||||||E|f|
||DCMS grant||||2,000,000||
|4|Investment||income||Unrestricted|Unrestricted|
||||||2021|2020|
||||||E|f|
||Income from listed investments||||648,002|719,617|
||Income from bank deposits||||21,106|87,645|
||||||669,108|807,262|
##
##
|5|Other income|Other income|||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
||||||||E|f|
||Insurance|proceeds|||||5,000||
|6|Cost of raising funds|||Unrestricted|Designated|Restricted|Total|Unrestricted|
|||||2021|2021|2021|2021|2020|
|||||f|E|||f|
||Investment|managers'|fees|143,512|||143,512|138,402|
|7|Charitable|activities||Unrestricted|Designated|Restricted|Total|Unrestricted|
|||||2021|2021|2021|2021|2020|
|||||E|E|E|E|E|
||Grants to:||||||||
||Institutions|(note 8)||1,394,502|2,105,526|1,900,000|5,400,028|1,773,449|
||Individuals|||86,000|15,340||101,340|75,000|
||Total grants|||1,480,502|2,120,866|1,900,000|5,501,368|1,848,449|
||Support costs|||83,931|2,554|100,000|186,485|369,698|
|||||1,564,433|2,123,420|2,000,000|5,687,853|2,218,147|
|8|Grants to institutions|Unrestricted|Designated|Restricted|Tota I|Unrestricted|
|---|---|---|---|---|---|---|
|||2021|2021|2021|2021|2020|
|||f|E|E|f|E|
||Auchterarder
Church|80,000|||80,000||
||A Way Out|30,000|||30,000|30,000|
||Betel UK|||175,000|175,000||
||Caring for Life|100,000|||100,000|100,000|
||Changing
Lives|||250,000|250,000||
||Charlie House|||||51,000|
||Children
in Need|||||28,918|
||Christmas
gifts drop|||||43,943|
||Cranmer
Hall|33,333|||33,333||
||Durham
Cathedral|||||200,000|
||Emmanuel
Church|||||50,000|
||Evangelical
Alliance|112,000|||112,000||
||Foundation
of Light|||210,000|210,000|100,000|
||Glenwood
Church|80,000|||80,000||
||Good Shepherd|196,315|||196,315||
||Handcrafted
Projects|||33,840|33,840||
||Hope Next Generation|||||25,000|
||Junction 42|||35,000|35,000||
||L'Arche
UK||30,000||30,000|30,000|
||Maggie's|||107,803|107,803||
||Mercy Ships|||||100,000|
||Northpoint
Care|30,000|||30,000||
||Oasis Community
House|||109,551|109,551||
||Operation
Mobilisation|||||25,000|
||Outward
Bound Trust|||50,000|50,000||
||Peter Vardy Foundation||1,880,000||1,880,000||
||Premier Christian
Media|50,000|||50,000||
||Re: Hope Next Generation||84,000||84,000||
||Safe Families for Children|||300,940|300,940||
||Sage Gateshead|||260,000|260,000||
||Second Sight|25,000|||25,000||
||Sowing Seeds Ministries|||40,000|40,000||
||Spartans
Community||25,000||25,000|25,000|
||St Luke's Church|50,000|||50,000||
||Thana Trust|85,000|||85,000||
||The Message Trust|||271,093|271,093||
||The Moses Project|25,000|||25,000|25,000|
||United Christian
Broadcasters|50,000|||50,000||
||Urban Saints
Other awards (f25,000|447,854|86,526|56,773|591,153|35,000
904,588|
|||1,394,503|2,105,526|1,900,000|5,400,028|1,773,449|
##
|NOTES|TO THE FINANCIAL STATEMENTS (continued)|TO THE FINANCIAL STATEMENTS (continued)|TO THE FINANCIAL STATEMENTS (continued)|TO THE FINANCIAL STATEMENTS (continued)||||
|---|---|---|---|---|---|---|---|
|YEAR ENDED 5 APRIL||2021||||||
|9|Analysis ofgrants|||2021|2021|2020|2020|
|||||No.|E|No.|E|
||DCMS|||16|1,900,000|||
||Relief|||1|10,000|3|1,483|
||Education|||5|47,333|4|12,915|
||Religion|||45|802,606|52|673,551|
||Welfare|||68|2,741,429|144|1,145,100|
||Arts|||||4|15,400|
|||||135|5,501,368|207|1,848,449|
|10|Support costs||Unrestricted|Designated|Restricted|Total|Unrestricted|
||||2021|2021|2021|2021|2020|
||||f|E|E|f|f|
||Impairment
ofproperty||||||300,000|
||Salaries (note|11)|||76,144|76,144||
||FOREX loss||20,141|||20,141||
||Travel fk accommodation||3,087||75|3,162|25,864|
||Insurance||4,732|||4,732|4,552|
||Heat and light||1,015|||1,015|990|
||Office costs||1,602|39|358|1,999|1,282|
||Computer
costs||(18)||623|605|493|
||Property costs||7,475|||7,475|933|
||Bank charges||1,121|15||1,136|400|
||Accountancy
Professional fees||8,326
29,250|2,500|4,800
18,000|13,126
49,750|8,475
10,284|
||Marketing||||||750|
||Auditor's
remuneration|||||||
||for non-audit|services|||||8,475|
||Governance
costs||7,200|||7,200|7,200|
||||83,931|2,554|100,000|186,485|369,698|
##
##
##
|EAR|ENDED 5APRIL 2021|||||
|---|---|---|---|---|---|
|13|Investments|||Total|Tota I|
|||||2021|2020|
|||||E|E|
||At 6 April|||28,731,630|31,982,599|
||Gifted shares|||170,000|250,001|
||Equa lisations
Purchases at cost|||(592)
9,884,374|5,982,015|
||Disposa
I proceeds|||(17,387,093)|(5,374,200)|
||Movement
in cash held in the portfolios|||1,856,092|(699,320)|
||Gains/(losses)
on revaluation|||7,509,837|(3,409,465)|
||At 5 April|||30,764,248|28,731,630|
||Historic cost at 5April|||25,441,379|29,552,940|
|14|Social investments||Charitable|Charitable|Total|
||||loansf|property
E|investments
E|
||Cost|||||
||At 6April 2020||660,546|4,359,534|5,020,080|
||Additions||100,000|124,741|224,741|
||Repayments||(77,750)||(77,750)|
||At 5April 2021||682,796|4,484,275|5,167,071|
||Charitable
loans comprise:|||2021|2020|
|||||E|E|
||Northpoint
Fostering
CIC
North East Autism Society|||100,000
97,917|122,916|
||Re: Hope Church Glasgow|||247,500|277,500|
||Jason Mayhall,
Pastor
The Message Trust|ofthe Bethany Christian|Centre|237,379|241,379
18,751|
|||||682,796|660,546|
##
|NOTES|TO THE FINANCIAL STATEMENTS (continued)|TO THE FINANCIAL STATEMENTS (continued)||||
|---|---|---|---|---|---|
|YEAR ENDED 5APRIL 2021||||||
|15|Tangible fixed assets||Fixtures and|Computer||
||||fittings
E|equipment
f|Total
f|
||Cost|||||
||At 6April 2020||10,419|5,792|16,211|
||Disposals||(10,419)|(5,792)|(16,211)|
||At 5 April 2021|||||
||Depreciation
At 6 April 2020||10,419|5,792|16,211|
||On disposals||(10,419)|(5,792)|(16,211)|
||At 5April 2021|||||
||Net book value|||||
||At 5 April 2021|||||
||At 5 April 2020|||||
|16|Debtors||||Restated|
|||||2021|2020|
|||||E|E|
||Donations
receivable|||256,503|968,913|
||Prepayments
and accrued income|||67,002|52,010|
|||||323,505|1,020,923|
|17|Creditors|||2021|2020|
|||||E|E|
||Otherloans||||4,611,600|
||Trade creditors|||43,578|39|
||Grant creditors|||15,000|50,158|
||Accruals and deferred|income||37,104|31,941|
|||||95,652|4,693,738|
##
|18|Movement|in|funds||||||
|---|---|---|---|---|---|---|---|---|
||||Restated||||||
||||At 6April||||Gains/|At 5 April|
||||2020
E|Income
f|Expenditure
f|Transfers
E|(losses)
f|2021
E|
||2020/21||||||||
||Unrestricted||29,947,998|1,100,611|(1,707,945)|(2,316,503)|7,509,837|34,533,998|
||Designated||||||||
||Matched||||||||
||Funding||||(30,000)|2,000,000||1,970,000|
||Peter
Vardy||||||||
||Foundation||2,582,036||(2,010,881)|256,503||827,658|
||Jigsaw||||||||
||Foundation||43,307||(82,539)|60,000||20,768|
||||2,625,343||(2,123,420)|2,316,503||2,818,426|
||Restricted||||||||
||DCMS|||2,000,000|(2,000,000)||||
||Total||32,573,341|3,100,611|(5,831,365)||7,509,837|37,352,424|
||||Restated||||||
||||At 6April||||Gains/|At 5April|
||2019/20||2019
E|Income
E|Expenditure
E|Transfers
f|(losses)
E|2020
E|
||Unrestricted||34,118,338|2,230,382|(1,678,139)|(1,313,118)|(3,409,465)|29,947,998|
||Designated||||||||
||Peter
Vardy||||||||
||Foundation||1,927,055||(518,137)|1,173,118||2,582,036|
||Jigsaw||||||||
||Foundation||63,580||(160,273)|140,000||43,307|
||||1,990,635||(678,410)|1,313,118||2,625,343|
||Total||36,108,973|2,230,382|(2,356,549)||(3,409,465)|32,573,341|
##
##
##
##
|The DCMS fund is a community
match fundin
other charitable
organisations.|The DCMS fund is a community
match fundin
other charitable
organisations.|g
project funded
by D|CMS to give gr|ant awards to|
|---|---|---|---|---|
|Analysis ofnet assets between funds||Unrestricted
E|Designated
f|Tota I
f|
|2020/21|||||
|Investments||30,764,248||30,764,248|
|Social investments||5,167,071||5,167,071|
|Net current assets/(liabilities)||(1,397,321)|2,818,426|1,421,105|
|||34,533,998|2,818,426|37,352,424|
|2019/20|||||
|Investments||28,731,630||28,731,630|
|Social investments||5,020,080||5,020,080|
|Net current assets/|(liabilities)|(3,803,712)|2,625,343|(1,178,369)|
|||29,947,998|2,625,343|32,573,341|
##
##
##
|20|Reconciliation
ofne|t move|ments
in fund|s to cash|flows from op|erating
activitie|s|
|---|---|---|---|---|---|---|---|
||||||||Restated|
|||||||2021|2020|
|||||||E|E|
||Net income/(expenditure)|||||4,779,083|(3,535,632)|
||Impairment
charges||||||300,000|
||Equalisations|||||592||
||Donated shares|||||(170,000)|(250,001)|
||(Gains)/losses|||||(7,509,837)|3,409,465|
||Investment
income|||||(669,108)|(807,262)|
||Decrease/(increase)|in debtors||||697,418|(980,513)|
||Increase
in creditors|||||13,544|16,815|
||Net cash (used in)/provided||by operating|activities||(2,858,308)|(1,847,128)|
|21|Analysis ofnet debt||||At 6 April||At 5 April|
||||||2020|Cashflow|2021|
||||||f|f|E|
||Cash at bank and
in|hand|||2,494,446|(1,301,164)|1,193,282|
||Loans due within 1year||||(4,611,600)|4,611,600||
||Net debt||||(2,117,154)|3,310,436|1,193,282|
##
|At 5|April 202|1,the Charity has commitments
in re|spect of multi-year
grants appr|oved:|
|---|---|---|---|---|
||||2021|2020|
||||E|E|
|Due|within one year||204,750|269,820|
|Due|between|one and five years|56,250|100,000|
||||261,000|369,820|
##
##
|Organisation|Common|Trustees|Value of|donation|
|---|---|---|---|---|
|Peter Vardy Foundation|Sir Peter|Vardy and Peter D DVardy|E1,880,000||
|Junction 42 Foundation|Richard|A R Vardy|E|50,483|