REGISTERED CHARITY NUMBER: 518173
THE SUPERINTENDENT MINISTER'S TRUST REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
Scott & Wilkinson Dalton House 9 Dalton Square LANCASTER LA1 1WD
THE SUPERINTENDENT MINISTER'S TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Notes to the Financial Statements | 9 | to | 16 |
| Detailed Statement of Financial Activities | 17 | to | 18 |
THE SUPERINTENDENT MINISTER'S TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2021
| Trustees | Rev A J Gardner (resigned 15/5/2021) |
|---|---|
| Rev J M Townley | |
| Mr N Wright | |
| Mr R Tomkins | |
| Rev M Bretton | |
| Mr J S Leech (resigned 15/5/2021) | |
| Mr D Broughton (appointed 15/5/2021) | |
| Rev P Godfrey (appointed 15/5/2021) | |
| Principal address | Acorn House, |
| Kingswood Estate | |
| Britannia Road | |
| BRISTOL | |
| BS15 8DB | |
| Registered charity number | 518173 |
| Independent examiner | Scott & Wilkinson |
| Dalton House | |
| 9 Dalton Square | |
| LANCASTER | |
| LA1 1WD | |
| Bankers | HSBC Bank Plc |
| 49a Fishergate | |
| Preston | |
| PR1 8BH |
Page 1
THE SUPERINTENDENT MINISTER'S TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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).
Objectives and activities
Objectives and aims
The charity is the United Kingdom denominational headquarters of The Free Methodist Church in the United Kingdom (FMCUK) which is part of the Free Methodist Church of North America, and the object of the charity is to further the religious and charitable work of FMCUK in accordance with the doctrines, policies and procedures of the church as set out in the latest Book of Discipline (2019). There are thirty eight churches in the UK Annual Conference, including three affiliated churches, and six in Northern Ireland.
Public benefit
We have served both the local and worldwide community in both direct provision of teaching for the personal and spiritual development and wellbeing of any individuals who seek it, and in facilitating our member churches to similarly provide that community benefit. We have provided significant funds for overseas development, the relief of poverty, and in generally improving the health and wellbeing of those seeking our help. Our member churches are also encouraged to send funds to suitable overseas projects. Our office operates as a hub, sharing information about needs within the communities our churches serve and helping to support the individual churches provide for those needs.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
THE SUPERINTENDENT MINISTER'S TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Achievement and performance
Charitable activities
The Trustees are assisted in their management of the Charity by a Board of Administration who are appointed by the members at the Annual Meeting, made up of clergy and lay members, who generally meet quarterly. The following individuals have been members of the Board of Administration through the period covered by these accounts, and none receive remuneration in respect of this work except for John Townley who is employed by the Charity as a National Leader:
Rev John Townley (Chair) Rev Donavan Lurrie Mr John Carter Mr Robert Tomkins Mrs Sam Baker Rev Pete Godfrey Mr Dan Broughton Rev Dan Cronin Mrs S Whybrew (Secretary)
The Board of Trustees, which includes the National Leadership Team, meet twice per year. In addition, John Townley chairs the Ministerial, Education and Guidance Board overseeing the recruitment and training of new pastors, and the Trustees and Board of Administration.
The charity has supported ministers and churches through the central provision of services, including negotiation of Death in Service, and Private Health Insurance, guidance and support to all member churches in the day to day operation and extension of their outreach and service ministries. Grants are made available to church plants to assist them in their growth in the early stages of development. We have facilitated members of the churches in FMCUK in their charitable activities through training, mentoring and guidance to their staff and many volunteers through one to one support and national conferences.
The charity facilitates both overseas and UK mission work, and the alleviation of national and international poverty by directly raising funds for onward transmission to other charities and missionaries. Amongst others, we have supported projects for international childcare, an overseas Missionary hospital in Rwanda, a Bishop's Fund crisis appeal for the victims of disaster, and the formation of new churches in the UK.
In addition, the structural review performed in prior years continues to be implemented, improving the strategic direction of the organisation and its efficient functioning, enabling the charity to meet it's charitable objectives.
Financial review
Principal funding sources
Income is mostly derived from free will gifts made to the church by church members and other interested individuals, together with contributions by member churches, some of which is designated to specific causes.
The trustees delegate day to day financial controls to the Board of Administration who operate within an agreed budget.
The board, by virtue of the regular board meetings, constantly scrutinise the finances, make judgements and estimates relating to available funds and appropriate allocation of these funds. The charity had an overall gain of £369K. The trustees, through the Treasurer, keep appropriate records which fully satisfy the legal requirements placed on trustees.
The attached accounts show the current state of the finances, which the trustees consider to be sound. Overall income for the charity was £608K with expenditure of £249K. The gain is largely due to the gifting of two buildings. The expenditure not budgeted for has been met from general reserves. The trustees are satisfied that the assets of the charity are available and adequate to fulfil the obligations of the charity.
Page 3
THE SUPERINTENDENT MINISTER'S TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Financial review
Reserves policy
In accordance with the guidelines issued by the Charity Commissioners, the level of reserves is considered and reviewed at regular intervals. The trustees have adopted a policy to ensure sufficient reserves are maintained and that there are adequate funds to ensure that the charity is able to meet all current and known future liabilities within Charity Commission guidelines.
Free reserves held at the year end are £534,395 (2020 - £174,501).
Funds in deficit
No funds are in deficit.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
This charity's governing instrument is a Charity Commission Scheme dated 9 January 1984, and amended by the Trustees on 15 October 2009 with the consent of the Charity Commissioners.
The governing instrument does not impose any specific restrictions on the way the charity can operate and bestows full powers on the trustees in relation to investments insofar as they do not contravene the Trustee Act 2000 with regards to investment powers.
Recruitment and appointment of new trustees
The trustees must in number be six or more. They are appointed by the members of the charity at the annual meeting by a majority resolution of the members present. The trustees should comprise half clergy and half lay members. New trustees will be judged whether or not they are suitable candidates by the members. An existing trustee will immediately cease to act in that capacity if he/she is deemed bankrupt or makes an arrangement with creditors, ceases to qualify as a trustee or indicates in writing that he/she wishes to resign.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees have considered the particular risks of fraud, the need to ensure compliance with legislation, being sued by an outside body, and the integrity of the computer system and taken appropriate steps to control these risks and mitigate impact. The charity is aware of Safeguarding issues and also advises member churches.
Financial and Budgetary control is pursued by the preparation and monitoring of the budget and studying the quarterly financial statements prepared by the Treasurer. The charity's cash deposits are now held between NatWest, HSBC, Charities Aid Foundation and Cambridge & Counties Bank.
The charity makes wide use of computers for its activities, with anti-virus protection and regular cloud back-ups to maintain data security. The accounting information is backed up to three different computers, and the General Office computer systems are backed up to the cloud and are password protected.
The Charity has protected the Trustees by way of Indemnity Insurance, and takes regular guidance from its legal advisers. There have been no 'serious incidents' requiring report to the Charity Commission during the year.
Page 4
THE SUPERINTENDENT MINISTER'S TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
...................................................................... Rev J M Townley - Trustee
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SUPERINTENDENT MINISTER'S TRUST
Independent examiner's report to the trustees of The Superintendent Minister's Trust
I report to the charity trustees on my examination of the accounts of The Superintendent Minister's Trust (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Association of Chartered Certified Accountants which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Tim Preece F.C.C.A Association of Chartered Certified Accountants Scott & Wilkinson Dalton House 9 Dalton Square LANCASTER LA1 1WD
Date: .............................................
Page 6
THE SUPERINTENDENT MINISTER'S TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted funds Notes £ Income and endowments from Donations and legacies 2 490,113 Investment income 3 9,804 Other income - Total 499,917 Expenditure on Raising funds 4 14,625 Charitable activities 5 Church activities 125,549 Total 140,174 Net gains on investments 152 NET INCOME/(EXPENDITURE) 359,895 Reconciliation of funds Total funds brought forward 397,500 Total funds carried forward 757,395 |
Restricted funds £ 118,020 - - 118,020 - 109,114 109,114 - 8,906 142,546 151,452 |
2021 Total funds £ 608,133 9,804 - 617,937 14,625 234,663 249,288 152 368,801 540,046 908,847 |
2020 Total funds £ 227,061 9,808 10,000 246,869 - 258,936 258,936 268 (11,799) 551,845 540,046 |
|---|---|---|---|
Continuing operations
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 7
THE SUPERINTENDENT MINISTER'S TRUST
BALANCE SHEET 31 DECEMBER 2021
| Notes Fixed assets Investment property 11 Current assets Debtors 12 Cash at bank Creditors Amounts falling due within one year 13 Net current assets Total assets less current liabilities NET ASSETS Funds 14 Unrestricted funds Restricted funds Total funds |
Unrestricted funds £ 223,000 16,485 527,586 544,071 (9,676) 534,395 757,395 757,395 |
Restricted funds £ - 2,168 149,535 151,703 (251) 151,452 151,452 151,452 |
2021 Total funds £ 223,000 18,653 677,121 695,774 (9,927) 685,847 908,847 908,847 757,395 151,452 908,847 |
2020 Total funds £ 223,000 25,978 323,696 349,674 (32,628) 317,046 540,046 540,046 397,500 142,546 540,046 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Rev J M Townley - Trustee
The notes form part of these financial statements
Page 8
THE SUPERINTENDENT MINISTER'S TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 9
THE SUPERINTENDENT MINISTER'S TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 2. Donations and legacies Contributions from churches Donations Workplace pension 3. Investment income Rents received Deposit account interest 4. Raising funds Investment management costs Property repairs Loss on sale of assets 5. Charitable activities costs Church activities 6. Grants payable Church activities |
Direct Costs £ 193,350 |
Grant funding of activities (see note 6) £ 38,333 |
2021 £ 115,199 420,938 71,996 608,133 2021 £ 9,000 804 9,804 2021 £ 5,273 9,352 14,625 Support costs (see note 7) £ 2,980 2021 £ 38,333 |
2020 £ 113,551 43,105 70,405 |
2020 £ 113,551 43,105 70,405 |
|---|---|---|---|---|---|
| 227,061 | |||||
| 2020 £ 8,789 1,019 9,808 2020 £ - - - Totals £ 234,663 |
2020 £ 8,789 1,019 9,808 2020 £ - - |
||||
| - | |||||
| 2020 £ 67,264 |
Page 10
THE SUPERINTENDENT MINISTER'S TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
6. Grants payable - continued
The total grants paid to institutions during the year was as follows:
| Grants payable - continued The total grants paid to institutions during the year was as follows: |
||
|---|---|---|
| Board of World Missions - Childcare Board of World Missions - Europe Board of World Missions - Rwanda Board of World Missions - South Africa Board of World Missions Evan FD church planting |
2021 £ 7,965 5,918 - 1,350 - 23,100 38,333 |
2020 £ 8,322 26,242 800 2,050 1,000 28,600 |
| 67,014 |
7. Support costs
Church activities
Governance costs £ 2,980
Support costs, included in the above, are as follows:
| Governance costs | ||
|---|---|---|
| 2021 | 2020 | |
| Church | Total | |
| activities | activities | |
| £ | £ | |
| Independent examiners fee | 2,980 | 2,431 |
8. Trustees' remuneration and benefits
Rev J M Townley received remuneration of £43,859 and the charity contributed £3,876 to his pension scheme as an employer pension contribution. (2020: £nil) This remuneration was in respect of his employment by the charity. Approval was given in 2021 for this appointment in accordance with the amendments made to the Trust Deed in 2009.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Page 11
THE SUPERINTENDENT MINISTER'S TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 9. Staff costs Wages and salaries The average monthly number of employees during the year was as follows: Charitable activities No employees received emoluments in excess of £60,000. 10. Comparatives for the statement of financial activities Unrestricted funds £ Income and endowments from Donations and legacies 113,839 Investment income 9,808 Other income 10,000 Total 133,647 Expenditure on Charitable activities Church activities 121,292 Net gains on investments 268 NET INCOME/(EXPENDITURE) 12,623 Transfers between funds (582) Net movement in funds 12,041 Reconciliation of funds Total funds brought forward 385,459 Total funds carried forward 397,500 |
2021 £ 58,299 58,299 2021 3 Restricted funds £ 113,222 - - 113,222 137,644 - (24,422) 582 (23,840) 166,386 142,546 |
2020 £ 14,950 14,950 2020 3 Total funds £ 227,061 9,808 10,000 246,869 258,936 268 (11,799) - (11,799) 551,845 540,046 |
|---|---|---|
Page 12
THE SUPERINTENDENT MINISTER'S TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 11. Investment property Fair value At 1 January 2021 Additions Disposals At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020 12. Debtors: amounts falling due within one year Other debtors Prepayments 13. Creditors: amounts falling due within one year Other creditors |
2021 £ 2,168 16,485 18,653 2021 £ 9,927 |
£ 223,000 370,000 (370,000) 223,000 223,000 223,000 2020 £ 9,264 16,714 25,978 2020 £ 32,628 |
|---|---|---|
Page 13
THE SUPERINTENDENT MINISTER'S TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
14. Movement in funds
| Unrestricted funds General fund Investment property Discretionary fund Restricted funds Board of World Missions - Childcare Board of World Missions - Europe Board of World Missions - general fund Board of World Missions - Visa Evan FD church planting Church building loan fund Conference outreach ministries fund Pension scheme V Trinder legacy for use in GB Church Planting in NI TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund Restricted funds Board of World Missions - Childcare Board of World Missions - Europe Board of World Missions - general fund Board of World Missions - South Africa Evan FD church planting Pension scheme Church Planting in NI TOTAL FUNDS |
follows: Incoming resources £ 499,917 8,247 5,982 450 1,350 4,622 69,439 27,930 118,020 617,937 |
At 1/1/21 £ 112,852 223,000 61,648 397,500 328 2,415 13,550 557 48,219 17,958 15,647 - 43,871 1 142,546 540,046 Resources expended £ (140,174) (7,965) (5,918) (137) (1,350) (24,401) (69,343) - (109,114) (249,288) |
Net movement At in funds 31/12/21 £ £ 359,895 472,747 - 223,000 - 61,648 359,895 757,395 282 610 64 2,479 313 13,863 - 557 (19,779) 28,440 - 17,958 - 15,647 96 96 - 43,871 27,930 27,931 8,906 151,452 368,801 908,847 Gains and Movement losses in funds £ £ 152 359,895 - 282 - 64 - 313 - - - (19,779) - 96 - 27,930 - 8,906 152 368,801 |
|---|---|---|---|
Page 14
THE SUPERINTENDENT MINISTER'S TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
14. Movement in funds - continued
Comparatives for movement in funds
| Unrestricted funds General fund Investment property Discretionary fund Restricted funds Board of World Missions - Childcare Board of World Missions - Europe Board of World Missions - general fund Board of World Missions - Rwanda Board of World Missions - South Africa Board of World Missions - Visa Evan FD church planting Church building loan fund Conference outreach ministries fund Pension scheme V Trinder legacy for use in GB Church Planting in NI TOTAL FUNDS |
At 1/1/20 £ 100,561 223,000 61,898 385,459 432 4,309 13,550 (2) (2) 557 70,065 17,958 15,647 - 43,871 1 166,386 551,845 |
Net movement in funds £ 12,873 - (250) 12,623 (457) (1,894) - - - - (21,846) - - (225) - - (24,422) (11,799) |
Transfers between funds £ (581) - (1) (582) 353 - - 2 2 - - - - 225 - - 582 - |
At 31/12/20 £ 112,853 223,000 61,647 |
|---|---|---|---|---|
| 397,500 328 2,415 13,550 - - 557 48,219 17,958 15,647 - 43,871 1 |
||||
| 142,546 | ||||
| 540,046 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Discretionary fund Restricted funds Board of World Missions - Childcare Board of World Missions - Europe Board of World Missions - general fund Board of World Missions - Rwanda Board of World Missions - South Africa Evan FD church planting Pension scheme TOTAL FUNDS |
Incoming resources £ 133,647 - 133,647 7,865 24,348 1,000 800 2,050 6,754 70,405 113,222 246,869 |
Resources expended £ (121,042) (250) (121,292) (8,322) (26,242) (1,000) (800) (2,050) (28,600) (70,630) (137,644) (258,936) |
Gains and Movement losses in funds £ £ 268 12,873 - (250) 268 12,623 - (457) - (1,894) - - - - - - - (21,846) - (225) - (24,422) 268 (11,799) |
|---|---|---|---|
Page 15
THE SUPERINTENDENT MINISTER'S TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
15. Related party disclosures
There were no related party transactions for the year ended 31 December 2021.
Page 16
THE SUPERINTENDENT MINISTER'S TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Income and endowments Donations and legacies Contributions from churches Donations Workplace pension Investment income Rents received Deposit account interest Other income Government grants Total incoming resources Expenditure Investment management costs Property repairs Loss on sale of tangible fixed assets Charitable activities Wages Conference office and manse costs Annual conference expenses Cost of goods and services provided National leadership team costs Workplace pension Grants to institutions Grants to individuals Support costs Governance costs Independent examiners fee Total resources expended Net income/(expenditure) before gains and losses |
2021 £ 115,199 420,938 71,996 608,133 9,000 804 9,804 - 617,937 5,273 9,352 14,625 58,299 12,784 324 31,219 13,652 77,072 38,333 - 231,683 2,980 249,288 368,649 |
2020 £ 113,551 43,105 70,405 227,061 8,789 1,019 9,808 10,000 246,869 - - - 14,950 18,665 3,731 29,972 50,393 71,530 67,014 250 256,505 2,431 258,936 (12,067) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 17
THE SUPERINTENDENT MINISTER'S TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Realised recognised gains and losses Realised gains/losses on foreign exchange Net income/(expenditure) |
2021 £ 152 368,801 |
2020 £ 268 (11,799) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 18