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|Reference and Administrative|Reference and Administrative|Details||
|---|---|---|---|
|Chairman's
Review||||
|Trustees'
Report||||
|Independent
Auditor's|Report||14|
|Statement of Financial|Activities||18|
|Balance Sheet|||19|
|Statement ofCashflows|||20|
|Notes to the Financial Statements|||21|
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||||||||Restated|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Designated|Total|Total|
|||||Funds|Funds|Funds|Funds|
|||||2022|2022|2022|2021|
||||Notes|E|E|f|E|
|Income from:||||||||
|Donations
and|legacies|||552,391||552,391|426,503|
|Charitable
activities|||||||2,000,000|
|Investments||||683,667||683,667|669,108|
|Other income|||||||5,000|
|Total income||||1,236,058||1,236,058|3,100,611|
|Expenditure
on:||||||||
|Raising funds|||6|117,051||117,051|143,512|
|Charitable
activities|||7|2,323,113|487,696|2,810,809|5,856,770|
|Total expenditure||||2,440,164|487,696|2,927,860|6,000,282|
|Net (expenditure)||before|gains|||||
|on investments||||(1,204,106)|(487,696)|(1,691,802)|(2,899,671)|
|Net gains on investments|||13|486,973||486,973|7,509,837|
|Net (expenditure)/income||||(717,133)|(487,696)|(1,204,829)|4,610,166|
|Transfers between||funds||(315,000)|315,000|||
|Net movement|in funds|||(1,032,133)|(172,696)|(1,204,829)|4,610,166|
|Reconciliation|offunds:|||||||
|Funds
brought|forward-|||||||
|restated|||18,19|34,200,081|2,818,426|37,018,507|32,408,341|
|Funds carried|forward||18,19|33,167,948|2,645,730|35,813,678|37,018,507|
##
|EAR ENDED|5APR|IL|2022||||
|---|---|---|---|---|---|---|
|||||Notes||Restated|
||||||2022|2021|
||||||E|E|
|Fixed assets|||||||
|Investments||||13|30,434,678|30,764,248|
|Social investments||||14|5,039,241|5,167,071|
||||||35,473,919|35,931,319|
|Current assets|||||||
|Debtors||||15|401,518|323,505|
|Cash at bank and||in|hand||118,630|1,193,282|
||||||520,148|1,516,787|
|Creditors: amounts|||falling due within one year|16|(143,139)|(340,015)|
|Net current|assets||||377,009|1,176,775|
|Total assets|less current liabilities||||35,850,928|37,108,091|
|Creditors: amounts|||falling due in more than one year|17|(37,250)|(89,584)|
|Net assets|||||35,813,678|37,018,507|
|Funds|||||||
|Unrestricted|funds|||18,19|33,167,948|34,200,081|
|Designated|funds|||18,19|2,645,730|2,818,426|
||||||35,813,678|37,018,507|
##
|||||Notes||Restated|
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||E|E|
|Cash flows from operating|activities||||||
|Net cash used in operating|activities|||20|(2,903,732)|(2,858,308)|
|Cash flows from investing|activities||||||
|Investment
income|||||683,667|669,108|
|Proceeds from the sale ofinvestments|||||1,845,724|17,387,093|
|Purchase ofinvestments|||||(4,590,712)|(10,009,115)|
|Movement
in cash held in|the portfolios||||3,750,601|(1,856,092)|
|Concessionary
loans made||||||(100,000)|
|Concessionary
loans written off|||||80,000||
|Concessionary
loans repaid|||||59,800|77,750|
|Net cash provided
by investing
activities|||||1,829,080|6,168,744|
|Cash flows from financing|activities||||||
|Repayment
of loans||||||(4,611,600)|
|Net cash used in financing|activities|||||(4,611,600)|
|Change
in cash and cash equivalents||in the|year|21|(1,074,652)|(1,301,164)|
|Cash and cash equivalents|at the beginning||ofthe year|21|1,193,282|2,494,446|
|Cash and cash equivalents|at the end|ofthe year||21|118,630|1,193,282|
##
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|rior year adjustment
|(continued)||||
|---|---|---|---|---|
|||6Apr 2020|6Apr 2020|6 Apr 2020|
|||Unrestricted
E|Designated
E|Total
f|
|Reserves as previously|stated|29,947,998|2,625,343|32,573,341|
|Grant expenditure||(165,000)||(165,000)|
|Reserves as restated at 6April 2020||29,782,998|2,625,343|32,408,341|
|||5Apr 2021|5Apr 2021|5 Apr 2021|
|||Unrestricted|Designated|Tota I|
|||E|f|E|
|Reserves as previously|stated|34,533,998|2,818,426|37,352,424|
|Grant expenditure||(333,917)||(333,917)|
|Reserves as restated at 6 April 2021||34,200,081|2,818,426|37,018,507|
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|2|Donations||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||2022
f|2021f|
||Donated
investments||||201,040|170,000|
||Peter Vardy|Holdings|Limited||301,793|256,503|
||Peter Vardy||||26,081||
||Vardy Property Aberdeen|||Limited|16,957||
||Gift Aid||||6,520||
||||||552,391|426,503|
|3|Charitable|income|||Restricted|Restricted|
||||||2022|2021|
||||||f|f|
||DCMS grant|||||2,000,000|
|4|Investment|income|||Unrestricted|Unrestricted|
||||||2022|2021|
||||||f|f|
||Income from listed investments||||615,467|648,002|
||Income from bank deposits||||68,200|21,106|
||||||683,667|669,108|
##
##
|5|Other income|Other income||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||E|E|
||Insurance|proceeds|||||5,000|
|6|Cost ofraising funds|||Unrestricted|Designated|Total|Unrestricted|
|||||2022|2022|2022|2021|
|||||E|f||E|
||Investment|manager's|fees|117,051||117,051|143,512|
|7|Charitable|activities||Unrestricted|Designated|Total|Unrestricted|
|||||2022|2022|2022|2021|
|||||f|E|E|E|
||Grants to:|||||||
||Institutions|(note 8)||2,132,504|486,345|2,618,849|5,568,945|
||Individuals|||35,640|1,250|36,890|101,340|
||Total grants|||2,168,144|487,595|2,655,739|5,670,285|
||Support costs (note 10)|||154,969|101|155,070|186,485|
|||||2,323,113|487,696|2,810,809|5,856,770|
|8|Grants to institutions|Unrestricted|Designated|Total|Unrestricted|
|---|---|---|---|---|---|
|||2022|2022|2022|2021|
|||E|f|E|f|
||Alpha Global|50,000||50,000||
||Auchterarder
Church||||80,000|
||A Way Out|35,000||35,000|30,000|
||Betel UK||||175,000|
||Biblica Europe|100,000||100,000||
||Changing
Lives||||250,000|
||Cranmer
Hall||||100,000|
||Eastern University
Campolo|33,047||33,047||
||Empty Kitchen
Full Hearts|25,000||25,000||
||Evangelical
Alliance||||124,000|
||Fields of Life||36,695|36,695||
||Foundation
of Light||||210,000|
||Glenwood
Church||||80,000|
||Good Shepherd|285,950||285,950|196,315|
||Handcrafted
Projects||||33,840|
||Junction 42||||30,000|
||Kids Operating
Room|125,000||125,000||
||L'Arche
UK||30,000|30,000|30,000|
||Light UK||||100,000|
||Maggie's||||107,803|
||Mercy Ships|900,000||900,000||
||Northpoint
Care||||30,000|
||Oasis Community
House||||109,551|
||Outward
Bound Trust||||50,000|
||Peter Vardy Foundation||||1,880,000|
||Philo Trust||||40,000|
||Premier Christian
Media||||50,000|
||Re: Hope Next Generation||92,400|92,400|84,000|
||Revelation
Trust|30,000||30,000||
||Safe Families for Children||||300,940|
||Sage Gateshead||300,000|300,000|260,000|
||Second Sight||||25,000|
||Sowing Seeds Ministries||||121,250|
||Spartans Community||||25,000|
||Thana Trust|36,000||36,000|85,000|
||The Cinnamon
Network|50,000||50,000||
||The Message Trust||||271,093|
||The Moses Project|25,000||25,000|25,000|
||Try Praying|25,000||25,000||
||United Christian
Broadcasters||||50,000|
||Other awards
&f25,000|412,507|27,250|439,757|615,153|
|||2,132,504|486,345|2,618,849|5,568,945|
##
|OTE
EAR|S TO THE FINANCIAL STAT
ENDED 5APRIL 2022|S TO THE FINANCIAL STAT
ENDED 5APRIL 2022|EMENTS (c|ontinued)||||
|---|---|---|---|---|---|---|---|
|9|Analysis ofgrants|||2022|2022|2021|2021|
|||||No.|E|No.|E|
||DCMS|||1|300,000|16|1,900,000|
||Relief|||||1|10,000|
||Education|||17|24,890|5|114,000|
||Religion|||35|528,235|47|904,856|
||Welfare|||61|1,792,614|68|2,741,429|
||Arts|||1|10,000|||
|||||115|2,655,739|137|5,670,285|
|10|Support costs|||Unrestricted|Designated|Total|Unrestricted|
|||||2022|2022|2022|2021|
|||||E|E|E|f|
||Salaries (note 11)|||1,280||1,280|76,144|
||FQREX gain|||(1,073)||(1,073)|20,141|
||Travel (k accommodation|||2,134||2,134|3,162|
||insurance|||6,790||6,790|4,732|
||Heat and light|||1,151||1,151|1,015|
||Office costs|||1,916||1,916|1,999|
||Computer costs|||173||173|605|
||Property costs|||16,287||16,287|7,475|
||Bank charges|||822|101|923|1,136|
||Accountancy|||7,920||7,920|13,126|
||Professional|fees||12,662||12,662|49,750|
||Marketing|||450||450||
||Rent|||16,957||16,957||
||Write offofirrecoverable||loans|80,000||80,000||
||Governance|costs||7,500||7,500|7,200|
|||||154,969|101|155,070|186,485|
##
|EAR|ENDED 5APRIL 2|022|||||
|---|---|---|---|---|---|---|
|13|Investments||||Total|Total|
||||||2022|2021|
||||||E|E|
||At 6April||||30,764,248|28,731,630|
||Gifted shares||||201,040|170,000|
||Purchases at cost||||4,578,742|9,883,782|
||Disposal proceeds||||(1,845,724)|(17,387,093)|
||Movement
in cash held in the portfolios||||(3,750,601)|1,856,092|
||Gains/(losses)
on revaluation||||486,973|7,509,837|
||At 5April||||30,434,678|30,764,248|
||Historic cost at|5 April|||25,142,220|25,441,379|
|14|Social investments|||Charitable|Charitable|Total|
|||||loans|property|investments|
|||||E|E|E|
||Cost||||||
||At 6April 2021|||682,796|4,484,275|5,167,071|
||Additions||||11,970|11,970|
||Written off|||(80,000)||(80,000)|
||Repayments|||(59,800)||(59,800)|
||At 5 April 2022|||542,996|4,496,245|5,039,241|
||Charitable
loans comprise:||||2022
f|2021
E|
||Northpoint
Fostering||CIC||20,000|100,000|
||North East Autism Society||||72,917|97,917|
||Re: Hope Church Glasgow||||217,500|247,500|
||Jason Mayhall,|Pastor|ofthe Bethany Christian|Centre|232,579|237,379|
||||||542,996|682,796|
|EAR|ENDED 5AP|RI|L 2022||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|15|Debtors||||||||||2022
f|2021
f|
||Donations|receivable|||||||||308,314|256,503|
||Prepayments||and accrued||income||||||93,204|67,002|
||||||||||||401,518|323,505|
|16|Creditors:|amounts||falling|due|within one year|||||2022
f|2021
f|
||Trade creditors||||||||||1,300|43,578|
||Grant creditors||||||||||102,834|244,333|
||Accruals and||deferred
income||||||||39,005|37,104|
||||||||||||143,139|325,015|
|17|Creditors:|amounts||falling|due|in|more|than one year|||2022
f|2021
f|
||Grant creditors||||||||||37,250|89,584|
|18|Movement|in funds|||||||||||
||||Restated||||||||||
||||At|6 April|||||||Gains/|At 5 April|
|||||2021
f||Income
f||Expenditure
f||Transfers
f|(losses)
f|2022
f|
||2021/22||||||||||||
||Unrestricted||34,200,081||1,236,058|||(2,440,164)||(315,000)|486,973|33,167,948|
||Designated||||||||||||
||Matched||||||||||||
||Funding||1,970,000|||||(300,000)||||1,670,000|
||Peter
Vardy||||||||||||
||Foundation||827,658|||||(157,696)||305,000||974,962|
||Jigsaw||||||||||||
||Foundation|||20,768|||||(30,000)|10,000||768|
||||2,818,426|||||(487,696)||315,000||2,645,730|
||Total||37,018,507||1,236,058|||(2,927,860)|||486,973|35,813,678|
##
|18|Movement|in|funds (continued)|funds (continued)|||||
|---|---|---|---|---|---|---|---|---|
||||Restated|||||Restated|
||||At 6April||Restated||Gains/|At 5 April|
||||2020
f|Income
f|Expenditure
f|Transfersf|(losses)
f|2021
f|
||2020/21||||||||
||Unrestricted||29,782,998|1,100,611|{1,876,862)|(2,316,503)|7,509,837|34,200,081|
||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||32,408,341|3,100,611|(6,000,282)||7,509,837|37,018,507|
##
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##
|19|Analysis ofnet assets between|Analysis ofnet assets between|Analysis ofnet assets between|funds|funds|Unrestricted
f|Designated
E|Total
E|
|---|---|---|---|---|---|---|---|---|
||2021/22||||||||
||Investments|||||30,434,678||30434 678|
||Social investments|||||5,039,241||5,039,241|
||Net current assets/(liabilities)|||||(2,268,721)|2,645,730|377,009|
||Non-current
liabilities|||||(37,250)||(37,250)|
|||||||33,167,948|2,645,730|35,813,678|
||2020/21||||||||
||Investments|||||30,764,248||30,764,248|
||Social investments|||||5,167,071||5,167,071|
||Net current assets/
(liabilities)|||||(1,608,321)|2,818,426|1,210,105|
||Non-current
liabilities|||||(122,917)||(122,917)|
|||||||34,200,081|2,818,426|37,018,507|
|20|Reconciliation
ofnet|moveme'nts|||in funds to cashflows from operating activities||||
||||||||2022|2021|
||||||||f|E|
||Net (expenditure)/income||||||(1,204,829)|4,610,166|
||Equalisations|||||||592|
||Donated shares||||||(201,040)|(170,000)|
||(Gains) on investments||||||(486,973)|(7,509,837)|
||Investment
income||||||(683,667)|(669,108)|
||(Increase)/Decrease|in debtors|||||(78,013)|697,418|
||(Decrease)/increase|in creditors|||||(249,210)|182,461|
||Net cash (used in) operating||activities||||(2,903,732)|(2,858,308)|
|21|Analysis ofnet funds|||||At 6 April||At 5April|
|||||||2021|Cashflow|2022|
|||||||E|f|E|
||Cash at bank and in hand|||||1,193,282|(1,074,652)|118,630|
||Loans due within 1year||||||||
||Net funds|||||1,193,282|(1,074,652)|118,630|
##
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