## 

## 



## 

|Directors||(Trustees)|(Trustees)|||Jane Grant|||
|---|---|---|---|---|---|---|---|---|
|||||||Peter Holman|||
|||||||Tom Ravetz|||
|||||||Lesley Taylor|||
|Senior Management||||Team:||Katy Lockwood-Holmes||—Chief Executive|
|||||||Christian<br>Maclean|||
|||||||Susan Bestow (to31July 2020)|||
|Auditors||||||Geoghegans|||
|||||||Chartered<br>Accountants|||
|||||||6StColme Street|||
|||||||Edinburgh|||
|||||||EH3 6AD|||
|Bankers||||||Bank ofScotland|||
|||||||8 Morningside|Road||
|||||||Edinburgh|||
|||||||EH10 4DD|||
|||||||Triodos Bank|||
|||||||24 Hanover Street|||
|||||||Edinburgh|||
|||||||EH2 2EN|||
|||||||Aldermore<br>Bank (to30||December 2020)|
|||||||100West Regent Street|||
|||||||Glasgow|||
|||||||GU2 2QD|||
|Solicitors||||||Balfour & Manson|||
|||||||54-66 Frederick|Street||
|||||||Edinburgh|||
|||||||EH2 1LS|||
|Registered||Office||||22 Baylie Street|||
|||||||Stourbridge|||
|||||||West Midlands|||
|||||||DY8 1AZ|||
|Principal|Office|||||Canal Court|||
|||||||40Craiglockhart|Avenue||
|||||||Edinburgh|||
|||||||EH 141LT|||
|Company||Registration||Number||02398655|||
|Charity Commission|||Registration||Number|801790|||
|OSCR Registration|||Number|||SC041837|||





## 

## 

## 

## 

## 



## 

## 

## 

## 

## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 



## 

## 

## 

## 

## 



## 

## 



## 

## 



## 

## 

|||||||Total|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total Funds|Funds|
|||Notes|Funds|Funds|2020|2019|
|Income from:|||||||
|Charitable<br>activities|||2,055,581|7,900|2,063,481|1,995,569|
|Grants —COVID 19|||39,434||39,434||
|Donations<br>and legacies|||1,184||1,184||
|Other trading activities|||2,500||2,500|2,500|
|Investments|||8,719||8,719|11,645|
|Total income|||2,107,418|7,900|2,115,318|2,009,714|
|Expenditure on:|||||||
|Charitable<br>activities||7|(1,970,645)|(7,900)|(1,978,545)|(1,921,945)|
|Total expenditure|||(1,970,645)|(7,900)|(1,978,545)|(1,921,945)|
|Net income and movement|in funds|8|136,773||136,773|87,769|
|Reconciliation offunds:|||||||
|Total funds brought forward|||1,879,299||1,879,299|1,791,530|
|Total funds carried forward||10|2,016,072||2,016,072|1,879,299|





## 

## 

|at 31December 20|20|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Notes|||2020|2019|
|Fixed Assets||||||||||||||
|Tangible assets|||||||||12|||28,635|6,307|
|Investments|||||||||13|||5,000|5,000|
|||||||||||||33,635|11,307|
|Current Assets||||||||||||||
|Stocks|||||||||14|||610,493|515,125|
|Debtors|||||||||15|||1,173,040|1,034,267|
|Cash at bank and in|hand|||||||||||714,097|735,597|
|||||||||||||2,497,630|2,284,989|
|Liabilities||||||||||||||
|Creditors: Amounts|falling due|||within one year|||||16|||(484,517)|(391,997)|
|Net Current Assets||||||||||||2,013,113|1,892,992|
|Total assets less current||liabilities||||||||||2,046,748|1,904,299|
|Provisions for liabilities|||||||||17|||(30,676)|(25,000)|
|Net Assets||||||||||||2,016,072|1,879,299|
|The funds ofthe charity:||||||||||||||
|General<br>Funds - unrestricted|||||||||18|||2,016,072|1,879,299|
|Restricted<br>Funds|||||||||18|||||
|||||||||||||2,016,072|1,879,299|
|These financial statements|||have been prepared|||in|accordance||with|the|special|provisions<br>of|Part 15ofthe|
|Companies<br>Act 2006 relating||||to small|companies||and|constitute||the|annual|accounts<br>required<br>by the||
|Companies<br>Act 2006 and||are for circulation to members||||||ofthe|charitable||company.|||





## 

## 

|||||2020|2019|
|---|---|---|---|---|---|
|||||E|E|
|Netincome for the reporting period||(asper the SOFA)||136,773|87,769|
|Adjustments<br>for:||||||
|Depreciation||||8,348|7,685|
|Interest from investments||||(8,719)|(11,645)|
|(Increase) in stocks||||(95,368)|(40,550)|
|(Increase) in debtors||||(138,773)|(285,143)|
|Increase<br>in creditors||||92,520|29,682|
|Increase in provisions||||5,676||
|Net cash provided by/(used injoperating|||activities|457|(212,202)|
|STATEMENT OF CASH FLOWS||||||
|forthe year ended 31December 2020||||||
|||||2020|2019|
|||||E|E|
|Cash flows from operating|activities:|||||
|Net cash provided<br>by/(used|injoperating||activities|457|(212,202)|
|Cash flows from investing|activities:|||||
|Interest from investments||||8,719|11,645|
|Purchase oftangible fixed|assets|||(30,676)||
|iyet cash flow (used inj/provided<br>byinvesting<br>activities||||(21,957)|11,645|
|Change in cash and cash equivalents||in the year||(21,500)|(200,557)|
|Cash and cash equivalents|at the beginning ofthe year|||735,597|936,154|
|Cash and cash equivalents|at the end|ofthe year||714,097|735,597|





## 

## 

## 



## 

## 

## 

## 



## 



## 

## 

## 

||||||2020|2019|
|---|---|---|---|---|---|---|
||||||E|E|
|Books|and|incidental|sales|income|2,055,581|1,971,169|
|Grants|||||7,900|24,400|
||||||2,063,481|1,995,569|



|3|Grants —COV|ID 19|||||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||E|E|
||HMRC —QRS|grant|||39,434||
||All donations|received|in the year due to COVID|19were unrestricted.|||
|4|Donations and legacies||||||
||||||2020|2019|
||||||f|f|
||Contribution|received from landlord for Tenant's||improvements|1,184||
||All donations|received|in the year were unrestricted.||||
|5|Other trading|activities|||||
||||||2020|2019|
||||||E|E|
||Consulting<br>income||||2,500|2,500|



|6|Investment|income|||
|---|---|---|---|---|
||||2020|2019|
||||E|E|
||Interest received||8,719|11,645|





## 

## 

|||2020|2019|
|---|---|---|---|
|||E|E|
|Cost ofbooks sold||847,598|846,519|
|Distribution|and advertising|464,145|407,482|
|Travel and|book fairs|1,842|22,412|
|Trade subscriptions||1,494|1,941|
|Foreign exchange gain||(440)|722|
|Donations|and grants|10,000|15,000|
|Support costs (see note 8)||637,265|610,646|
|Governance|costs (see note 9)|16,641|17,223|
|||1,978,545|1,921,945|



## 

||||||
|---|---|---|---|---|
|8|Support costs||2020|2019|
||||E|f|
||Salaries and|consultancy|541,470|530,029|
||Postage and|stationery|8,876|11,732|
||Depreciation||8,348|7,685|
||Property expenses and insurances||73,692|47,279|
||Professional|fees|860|300|
||Sundry expenses||4,019|13,621|
||||637,265|610,646|
|9|Governance|costs|2020|2019|
||||f|E|
||Audit and accounting fees||6,580|6,113|
||Board expenses|||179|
||Salaries and|consultancy|10,061|10,931|
||||16,641|17,223|





## 

## 

|10|Net income/(expenditure)|forthe year|forthe year|2020<br>E|2019<br>f|
|---|---|---|---|---|---|
||Stated after charging/(crediting):|||||
||Depreciation<br>offixed assets|||8,348|7,685|
||Auditors'<br>remuneration||audit|4,084|3,850|
||||otherservices|2,496|2,263|
||Operating<br>lease payments|||11,061|23,732|
||Foreign exchange (gain)/loss|||(440)|722|
|11|Employee information|||2020|2019|
|||||f|E|
||Staffcosts during<br>the yeor amounted||to:|||
||Wages and salaries|||432,739|427,491|
||Social security costs|||34,194|35,277|
||Employer pension costs|||80,348|74,692|
|||||547,261|537,466|





## 

## 

|for t|he year ended 31December 2020||||
|---|---|---|---|---|
|12|Tangible fixed assets|Tenants|Fixtures||
|||Improvements|& Fittings|Total|
|||E|f|f|
||Cost||||
||At 1January 2020|32,289|18,891|51,180|
||Additions|30,676||30,676|
||Disposals|(32,289)|(549)|(32,838)|
||At 31December 2020|30,676|18,342|49,018|
||Depreciation||||
||At 1January 2020|27,048|17,825|44,873|
||Charge for year|7,282|1,066|8,348|
||Disposals|(32,289)|(549)|(32,838)|
||At 31December 2020|2,041|18,342|20,383|
||Net Book Value||||
||At 31December 2020|28,633||28,635|
||At 31December 2019|5,241|1,066|6,307|



## 

|financial sta|tements<br>atf5,000(2019:E5,000).|||
|---|---|---|---|
|Stocks||2020|2019|
|||f|E|
|Work in progress||58,374|76,526|
|Publications|for resale|552,119|438,599|
|||610,493|515,125|





## 

|at3|1December 2020||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|15|Debtors|||||||||2020||2019|
|||||||||||f||f|
||Trade debtors|||||||||823,460||681,347|
||Other debtors|||||||||49,580||52,920|
||Christian<br>Community|in GBloan||||||||300,000||300,000|
||||||||||1,173,040||1,034,267||
||The loan term was|extended|by 6 months to 30June||2021, by|way|of a written|||agreement|in|January|
||2021, with a facility|to be recalled||in part, or in full, with three||months||written||notice. Interest||is being|
||charged at 2%above the Bank||of England base rate per||annum.||||||||
||The loan is secured|by a guarantee||from the Foundation|The Christian||Community|||(International).|||
|16|Creditors: Amounts|falling due|within one year|||||||2020||2019|
|||||||||||f||f|
||Trade creditors|||||||||444,745||374,773|
||Accruals|||||||||14,606||10,120|
||Deferred income|||||||||8,596||2,300|
||Other creditors|||||||||16,570||4,804|
|||||||||||494,917||391,997|
||Deferred Income 2020||||||||||||
||||||Balance|||||||Balance|
||||||1Jannary|Deferred|||in|Released<br>in|31|December|
||||||2020<br>f|||yearf||yearf||2020<br>f|
||Frieling grant|||||||6,596||||6,596|
||Kovacs —'Michael letters' publication||||2,000|||||||2,000|
||Australia<br>trip 2020||||300|||||(300)|||
||||||2,300|||6,596||(300)||8,596|





## 

|Deferred|Income 2019|||||||
|---|---|---|---|---|---|---|---|
|||||Balance|||Balance|
|||||1January|Deferred<br>in|Released<br>in|31December|
|||||2019<br>f|year<br>f|yearf|2019<br>f|
|Creative|Scotland publishing||grant|12,750||(12,750)||
|Subsidy —'The Holy Year'||||500||(500)||
|Kovacs —'Michael letters'||publication|||2,000||2,000|
|Australia|trip 2020||||300||300|
|||||13,250|2,300|(13,250)|2,300|






## 

## 

|at3|1December 2020||||||
|---|---|---|---|---|---|---|
|18|Funds||||||
||2019||Balance at|||Balance at31|
||||1January|||December|
||||2019|Income|Expenditure|2019|
||||E|E|E|E|
||Unrestdcted<br>funds:||||||
||General||1,791,530|1,985,314|(1,897,545)|1,879,299|
||Restricted funds:||||||
||Bookpublication|grants|||||
||Creative Scotland|||17,000|(17,000)||
||Other|||7,400|(7,400)||
|||||24,400|(24,400)||
||Total funds||1,791,530|2,009,714|(1,921,945)|1,879,299|
|19|Analysis ofnet funds|||Unrestricted|Restricted|Total|
|||||E|E|E|
||Fixed assets|||33,635||33,635|
||Net current assets|||2,013,113||2,013,113|
||Provisions for liabilities|||(30,676)||(30,676)|
||Net assets at 31|December 2020||2,016,072||2,016,072|
||Fixed assets|||11,307||11,307|
||Net Current assets|||1,892,992||1,892,992|
||Provisions for liabilities|||(25,000)||(25,000)|
||Net assets at 31|December 2019||1,879,299||1,879,299|





## 

||2020|2019|
|---|---|---|
||Buildings|Buildings|
||E|f|
|Not later than one year|35,108|23,219|
|Between two and five years|129,371||
||164,479|23,219|



|21|Analysis ofchanges|in net funds|||||
|---|---|---|---|---|---|---|
||||At|1January 2020|Cash flows|At 31December|
|||||||2020|
||||||E|E|
||Cash at bank and in|hand||735,597|(21,500)|714,097|



##