GREEN PASTURES, THE PEOPLE'S CHURCH AM) SUBSIDIARY COMPANIES ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD FROM I- MAY 2019 TO 31ST AUGUST 202 Registration Nl 062702 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD FROM 15f MAY 2019 TO 31 AUGUST 2020 ST Pages Report of the Director5 Independent Auditors Report 8-10 Consolidated Statcment of FiDancial Adivities CoJJsolidated StstemeDi of FiTMn¢ial PositionlBal2nc¢ sheet 12 Company Ststement of Finan¢ial Positionl Balan¢e sh¢et 13 Con501id#ted Statement of Changes t￿ Fwids 14 Con501idated Cash Flow S¢at¢m¢nt 15 Notes to ihe finon¢ial siatements 16-25 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS REPORT OF THE DIRECTORS (INCORPORATING TRUSTEES, REPORT) The Directors {who are also the trnsteesl are pleased to present their annual report together with the finan¢tal statem•)t$ of the charity for the peri￿1 from I" May 2019 to 31° August 2020. which are prepared to m¢et the requir¢m¢nts for a directors, report and accounts for Cotnpanies Act putposes. The direciors have adopted the provisions of the Companies Act 2006 and Accounting and Reporting by Chzrities.. Ststement of Recommended Practice applicable to ¢hariti¢s prep￿illg accounts in Accoidance with the FinaDcial Reporting Standard applicable in the UK aDd Republic of tr¢land (Charities SORP- FRS1021, in prcparing the anrlual report and fm3n¢ial ststemenis of the charity. Aebievement5 #nd perform8n¢e The Church's desire is to be a reflection of God's heart through a vibrant, 21st century chuT¢h. We are ¢ommitted to buildJ"t)g a spirit-filled pwple who ar¢ inspired by Christ enjoying us, enjoying Him. A people who are driven by compassion to reach lost and hurting people, and to be a tsansfomiing presence in the communities we serve. In the year Covered in this reporting period, the church met both physically with in person services and tsnline due to the COVID Pandemic. We ¢¢l¢br2ted with 64 people who Came to a ¢Jew faith in Jesu5 Christ (last year 891, 3￿/fj of whom actively engaged and completed a dis¢ipleship prograrnme. Fify-two people wcre baptised in ihi5 time period. Th¢ chU￿b also provided regular and acce&%ible Pastoral Care not only to its 800+ adult members but also to the wider community. Dllring the reporting period, the ChuT¢b had 403 active volunteers. contributing an estimated 30,(K>O+ volunteer hours toward it5 charitable #iTnS. Jn mid March 2020. in line with Government regulations due to the COVID Pandemic. all church services moved froTh in person to online. This illcluded all our Sunday services. To ¢ontinue to pastor our ¢hurch family we had daily adult. kids alld youth d¢votiot)$. During this pandemit as a church we are aW￿e of how this can also affect o]]r physical. meutal and emotional well-b¢ing so we had weekly online interaction through Mentsl Health Mondays, workout Wednesdays and Family Fridays. Thest weie a gr¢at en¢ouragemertt in a very challenging time to both our ¢hur¢h family and the wider eommunity. As a church we are awar¢ of the incredible work of all the staff within our NHS and we supported those within our church family who work withitt the NHS by delivering a weekly meal for their families. Durillg this time period over 1,000 meals were delivered. We also PTovided support for th¢ NHS within our local hospitsls by providirLg them with snacks for their break tim¢s. In September 2020, as our schools re-opened, we supported those within our church family who are iea¢h¢rs and school support staff by prO￿ldirtg a weekly meal for their families over a4 w¢ek p¢ri¢)d. We also provided 5UPPOrt to 21 local PTimary and se£ondary 5choo15 by proTriding them ￿7¢h snacks for their tea¢h¢is and support staff. The ¢huTeh also continued to progress its vision for the 97 acre sste in the South of Ballymena. Duritjg this time periol as 2 church w¢ transitioned from GPI in Gal8OrnL to GP2 on the Gateway Project. With out first in person service in GP2 on 4th April 2021. The"Gaoway"Project exists for the benefit of the local area. particularly Ballymen4 and seeks to be a bl¢$$it)g to our city by providing social value and helping to stimulate spiritual, social and econornic regeneration. Fingncial revieiv and funds polS¢y The incotne of Green Pastur¢s. The Pcoplc's Church is testament to the lovely givin8 heart of its people and to God's promise that if we act in faith with careful planning He will release His provision. We have seen this reflected by the incredible generosity in this past period towards our "Proje¢t Nehemiah" fund - enabling the gathering of capital in prcparation for OUT S(KiO-¢conomi¢ and Spiritual regeneralion project at the Gateway Site. GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS REPORT OF THE DIREcfoRS {conrtM4ed) Fln*nel*l revlew and fuDd$ policy (CL•Hlilluerf) During tb¢ period the Church had total income of £2.372.797 and totsl ¢xp¢ndiwre of £1,382.067 resulting in a net sU￿lUS of £990.730. This surplus contributed to th¢ fvnding of the Church's con5truclion of a t)ew f￿lIlty. The net Surplus for the Period as shomm in the statem¢ntof financial aetivities on page I I hA5 been transferred io the ¢ompany's fvnds andhas resulted in an increase in total Church funds from £21.163.035 to £22.153,765 Dethil$ of the financi81 position of th¢ Chw¢h at the period
0rt 15 approved.. 50 far as the director is aware. there 15 llo relevant audit iDfoTmation of which the charity's audstors are unaware. and they have taken all the steps that th¢y ought to have taken as a directoi iti order to make ibemselves aware o(any relevant audit infomiation and lo ¢stablish that the ¢haritable company's auditors are aware of that infomiation. Funds held ￿ cu$todlaD tru$te¢ on b¢balf of oth¢rs Th¢ charity doe$ not hold any funds on bchalf of others. Audltors A resolution to appoint auditor5 will be PToposed at the Annual General Meeting. Approved by thr Board on 22 April 2021 and signed on ils behalf by.. Karen Kernohan LYDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF GRF.F.N PASTURES, THE PEOPLE'S CHURCH AYJ D SUBSIDIARY COMPANIES OplDlon W¢ have audited the financial statements of Green Paswres. The People's Church for the period fron) I" May 2019 to 31 August 2020. which comprise the Statement ofFinancial A¢livities. Balance Sheet, C8$h Flow Statemettt and notes to the rinaT]cial stateTnents, ill¢luding a summary of 51giJLficant accounting policies. The fjnaneial r¢porting fromework that has been applied in their preparation 15 applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Rcpublic of IrelaDd {Unitcd Kingdom Generally Accepted Accounting PraGtice)- (Charities SORP IFRSI 02)). In our opinion the financial staiements.. give a tTue and fair view of the state of tbe Group's and Par¢nl Company's affairs as at 3 1¥ August 2020 and of the Group's incoTMing re50urce5 and their application for the period then ended. have been properly prepared it) a¢¢ordan¢e with United Kingdom Gencrally Accepted Accounting Practice., and have been prepared in a¢¢ordance with the requirements of the Companies Act 2006. Basis for oplnlon We conducted our audit in a¢cordance with International Stsndards Auditing (UK) (ISAS (UKI) and applicable law. Our r¢sponsibilities under those standards are fi￿ber described in the Auditor's responsibilities for the audit of the financial statements Section of OUT Teport. We ale independertt of the Group and Parent Company ITL accordance with the ethical rcquiTements that are relevant to our audit of the fmancial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethtcal respottsibilities in accordanee with these r¢quirem¢nts. W¢ beli¢ve that the audit evidence ¢ have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relY4ting to going coneer W¢ have nothing to report in respect of the following matteT5 in relalion to which the ISA5 (UK) wuire u5 to rq)ort to you where.. the directors, use of the going ¢onc¢rn basis of a¢¢ounting in the preparation of the finan¢ial Statements 1$ ttot appropriat¢,' or th¢ directors have not disclosed in the flnancial statements any identified material uncertainties that may cast significant doubt about the Group's or Parent Company's ability to continue to adopt th¢ going concern basis of accounting for a peiiod of ￿ least twelv¢ monihs from the date wb¢n the financial statements are authorised for issue. Other Informatlon The diiectors are responsibl¢ for the other inforniation. The other infom)ation Comprises the it)forniation ll)clllded in the annual report, otbcr than the f]nancial statements and our auditor's report thereon. Our OPiDion on the financial ststements does not cover the other snfomtstion and, except to the extent otheTwÈse explicitly stated in our report. we do t)ot express any form of assurance ¢otJ¢lusion th¢reon. In ¢omie¢tion with our audit of the flnancial statements, our re$ponsibility 1$ to read the other it)fomiation anl in doing so, Consider whether the other information is materially incon515tent ￿th the financial ststements or our knowledge obtained in the audit or otherwise app¢ar5 to be Tnatetially misstated. If we identify such ]naterial inconsistencies or apparent maierial mis5tatem¢nts. wt are requir￿ to deiemiine whether there is a material m555tat¢ment in the financial statements or a maierial nii5Statement of the other inforniation. If, based on the work we have perfom)ed, we ¢on¢lude that ther¢ 1$ a material misst#temenl of this other infornmtion, we are required to report that fa¢t. We have nothing to report in this tegaTd. INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GREEN PASTURES, THE PEOPLE'S CHIJRCH AND SUBSIDIARY COMPANIES (¢oMrfn#e4) OpiDion5 on other m*tt¢rs prescribed by the CoJDPAnie5 Act 2006 In oui opjnion, bas¢d on tbe work und¢rtaken in the course of the audit.. the infornlation given in the DirectOTS' report (in¢oTporaii#g the sirztegic report} for the financial peri(yl forwhich the financial siatements are prepared is ¢onsisi¢ni ￿th ihe finat)cial statements. and the Threctors, report has been prepared ID acxordancx with applicable legal requirements. Matters on whl¢b we are required to report by exceptio Jn the light of the knowl¢dg¢ and understanding of th¢ Group and the Parent Company and its environment obtained in the Course of the audit, we have not identified material mis5talemellt5 in the directors. repon. We have noihing to report in re5pe¢t of the following matters in relation to which the Companies Aet 2(￿6 requir&s us to report to you if, in our opinion.. adequate accounting records have not been kept by the Parent Ctsmpany. or returns adequate for our audit have nol been receiv￿ fiom brdnches not visited by u5,. or the Parent Company financial stateTnent5 are not in agrcement with the a¢eounting records and returns. or certait) disclosure5 of DLTtctors' remut)¢ration sp¢¢ifJ¢d by law are not made. or we bave not received all the infornhation and explanations we require for our audit. Respon$ibillties of directors As explained more fully in the alr￿tOrS, re5ponsibilitleS 5tattment (Set out on pages 2 to 71, the dir¢cior5 (who are also the trnstee5 of the charitable company) are responsible for the preparation of the fJttat)cial statements and for being satisfied that they give a ttue and fair view, and foT such int¢rnal control as the directors detenlline 15 necessary to enabl¢ the preparation of fiTJancial statwnents that are free from mot¢rial misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Group's and the Parent Company'5 abilily io ¢ontinue &8 a going Gon¢em, dis¢losin8, as applicable, matter5 related tts going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or Par¢ni Company or to cease operations, or have no realistic altemathve but to do so. Auditor's rnsp&nsRbilitie5 for the audit of the financial statements Our objetttves are to obtsin reasollable assurance about whether the [￿￿cIal stat¢￿entS as a whole are free frorn TnateTial n)isstatemcnt, whether due lo fraud or ¢rror, and to Issue an auditor's report that includes our opinion. Reasonable a5suran¢e is a high level of assuratjce, but is not a guarantee that an audit conducted in a¢¢ordance with ISAS (UK) will always detect material misstatement when it exists. Misstatements Can arise from fraud or error and are considered material if, individually or in the aggr¢gat¢, they couldreasoll3blyb¢ expe¢ted to influence the econornic decisions of us¢rs t2k¢n on the basis of these financial ststements. As part of an audit in accordance with ISAS IUK), we excrcise professional judweni and maintain pn)fessional scepticism throughout the audit. We also: Identify aJd assess the risks of material Ellisstatement of the finaDcial statements. wheiher due to fraud or em>r, desigtl and perform audit procedures respot)sive to those risks, 2nd obtsin audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher that) for ot)e resulting from ernir. as fraud rnay involve collusion, forgery, intentional omissions, mi5repre5eniations, or the override of internal control. Obtsin an und¢rstsndin8 of internal control relevant to the audit in order to design audit pro¢¢dwes that are appmpriate in the circumstances, but not for the Pu￿0$¢ of expr¢ssin8 an opirtion on the effwtiveness of the Gioup's internal control. INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GREEIY PASTURF.S, THF. PF.OPLE'S CHURCH AND SUBSIDIARY COMPANIES (¢ontiMued) Auditor's re$ponsibilitles for the audit of tbe financi￿ $t8tements (conlinued) Evaluate the appropriateness of accounting policies used andthe r¢asonablenes5 of accouDting estin￿t¢S alldrelated di5G105ure5 made by the diitcltsrs. Conclude on the appropriateness of the directors. use of the going ¢on¢ern b8sis of ac¢owiting and, based on th¢ audit evidence obtained, whether a material uncertainty exisis related to events or condstions that may c&8t significant dollbt on the Group's or thc Parent Company's abiliry to continue as a going eoncern. If wt conclude that a material uncertainty exssts. we are required to draw attention in our auditor's fq)ort to the related disclosures in the finan¢ial Statements or, if such disclosures are inadequate, to modify opinion. Our conclusions are based on the oudit evidence obtsined up tt) the dat¢ of our auditor's repott. However, ￿tUre ¢vents or conditions may cause the Group or Parent Company to cea5¢ to continue as a going concern. Evaluate the overall pre5entatioll. structure and content of the financial stat¢n]¢nts. including the disc105ures. and whether the flnancial statem¢nts r¢pT¢sent th¢ undeTlying transactions and events in a TnanneT that achiev¢s fair presentation. Obtsin sufficient appropriate alldil tvidence regarding the financial irtformatiot) of th¢ ¢nlities orbusiness activities within the group to express an opinion ots the con501idated financial statements. We ￿¢ iesponsible for tbe th'rection. supervision and perfoNJ]anGe of the group audit. We remain solely responsible for our audit opinton. We conjrnunicate with those charged wilh governance regardillg, among oth¢r matters, the plaDned scope and timing of the audit and sigllificaDt audit findings, including any 5igllificani deficienci¢s in int¢rnal controlthat we identify during our eudit. Peter Stevenson {SenioF s(a￿lOry Auditor) For and on behalf of.. St¢venson and Wilsorl Chartered Accountants. Statutory AudL'toI 22- 30 Broadway Avenue Ballymena BT43 7AA 22nd April 2021 10 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBS￿[ARy COMPANIES CONSOLIDATED ACCOUL¥TS CONSOLIDATED STATEMET4T OF FINANCJAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE PERtOD FROM 1ST MAY 2019 TO 31ST AUGUST 2020 UDrestrffirted Fulld$ Ch*ritAble 16 months ended 3110812020 Restrietert Funds Charit#ble 16 month5 ended 3110812020 Fund$ TradSDg 16 month5 ended 3110812020 Total 16 mouths ended 3110812020 Totsl Year etsd¢d 3010412019 llleoming re$ourees Donations received Charitabl¢ a¢tivities Tumover Interest received Other ittcome 988,581 511073 999,198 320,385 1,987.779 371,258 1.978,974 1,060 12,204 3,848.371 110,792 3,445,411 4,042 22,700 1,97&974 944 116 12.204 Ttrtal iD¢•me 1.040J98 lJ19,699 1,991,178 4.351375 7.431,3 16 Resources exptnded Charilable activities Trade operattng eKpenses 956,493 425.574 1.382,067 2364J68 1,168,769 3,411,343 2,264.368 Total expellditur¢ 956,493 425,574 2.264,368 3.64fy435 4,580,112 Net iDeome before tr*Th5fers 83,905 894.125 {273,190) 704,840 2.851,204 Transfers betwe¢n fimds (188J63} 201.063 (12,7110) Net IDtomel(expendKture) before taxatioD (104.458) 1,095,188 (285.890) 704.840 2.851,204 Taxation credlt 42A40 42,440 10,104 N¢t movernent Sn funds (104A58) 1,095,188 (243,450) 747J80 2.861,308 Tot*1 funds brought forward 98,132 21.064,903 257,595 21,420,630 R8,559,322 Total tarried forward (6,326) 22,160,09A 14,145 22,167,910 21,420.630 The llot¢s on Fdges 16 10 25 fomi part of these finantial stat¢menis. GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS CONSOLIDATED STATEMENT OF FINANCIAL posrrIoN I BALANCE SHEET AS AT 31K AUGUST 2010 Ch#rit*ble 311081202fl Tr4dlng 3110812020 Totol 3110812020 Total 3010412019 Note Flxed assets Tangible r￿ed assets 22,021,590 9,205 22.030.795 21.392,815 Cllrre￿t a5set8 Stock Other debtors and prepa￿l¢llts Cash at bank- operating accounts Cash at bank - Project Nehemiab account Cash at bank- Other ministy a¢counts 12 13 51M 94,084 20,563 316,1162 37,014 468223 5110 30,738 75,572 1.000 124.822 96.135 316,062 37,014 57S,033 369,677 813,495 78,791 1,257,298 72,646 2,591,907 106,810 Crtdltors: amouDt$ due within one year 14 (33(048} {51,870) (387,9181 (2,415,936) Net turrent 4s$ets 132,175 54,940 187,115 175.971 Total assets less ¢urrent Ilabiliti 22,153.765 64,145 22317,910 21,568,786 Creditors: #mounts due after one year 15 (50,11110) (50,OOD) (105,716) Provi￿0￿ for li#bi]Itles eharges 16 (42,440) Tot91 net XS5ets 22.153,765 14,145 22.167.910 21,420,630 Represented bv: Unrestricted funds Restricted fuDd5 Profit aud loss resetves (6,326) 22.160.091 (6J26) 22,160,091 14,145 98,132 21,064,903 257,595 J4,145 Fund5 balance #t 31" August 2020 22.153.765 14,145 22,167,91 21.420,630 The f]nall¢i31 $¢atem¢nts hav¢ be¢n Prepared in ac¢ordance wtth The Companies A¢t 2006 and with Charities SORP-FRSIO2. The f￿all(la1 statements on pages I I to 25 W¢Te approved by The Board of Trnste¢s on 22nd April 2021 aod signed on tts behalf by.. Karen Kernohan Trustee Jeffr The notes on pages 16 ro 25 formpart of thegt finatt¢ial siaiements. 12 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS COMPANY STATEMENT OF FINANCIAL POSITIONIBALANCE SHEET AS AT 31 AUGUST 2020 (Company Registration Number Nl 062702) Note 3110812020 3010412019 Fixed asset5 Tangible fixed asset5 Investment5 in shares in subsidiaries 10 22,021,589 21,035,756 22,021,590 21,035.757 Current *55tty Stock Other debtors and prepayments Cash at bank- Churcb accoullt C&sh at bank- Project Nehemiah account Cash at bank- other ministy accounts 12 13 soo 94,084 20,563 316,062 37,014 468323 4.678 65,969 35,554 1,257,298 72,646 1,436,145 Creditors: am0￿￿ts due Thuthin one year 14 (336,048) 11,308,867) Net current k8sets 132,175 127,278 Total Det assets 22,153,765 21,163,035 Unrestrleted funds General fvnds (6,326) (6,326) 98,132 98,132 Total UDTe5trieted fvnds R¢5tricted funds 22,160,091 21,064,903 Total cllarity fund 22,153,765 21,163,035 The financial statements have beet) prepared in a¢¢ordan¢e with the provisions appli¢able to companies subject to the small cornpanies. Tegime under The CoTnpaThies Act 2006 and with Charities SORP-FRSIO2. Th¢ financial statements on pages I I to 25 were approved by the B¢)ard of Tn￿te¢S on 22 April 2021 and signed on its behalf by". Karen K¢rnohaD Trustee Jeffr Trust ht The no¢$ on pages 16 to 25 fornipart of these financial siat¢m¢nts. 13 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUliTS CONSOLDIATED STATEMENT OF CHANGES tN FUNDS AND RESERVES FOR THE PERIOD ENDED 315T AUGUST 2020 Unrestrieted Fund5 Restricted funds Prollt and h)ss reserves Total At I. May2O18 19S.396 18,160.424 203,502 18.559.322 Net S￿￿]usI(def1Clt} for the year (97,264) 2,904,479 54,093 2,861,308 At 30" April 2019 98,132 21,064,903 257,595 21,420,630 Net surplusl{d¢fJ¢it) for th¢ period (104,458) 1,095,188 {243,450} 747,280 At 311tAugust 2020 (6,326) 22,160,091 14,145 22,167,910 The notes on pages 16 to 25 fotTh part of these financial st&1enk￿ts. 14 GREEN PASTURES, THE PEOPLE'S CIIURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS CONSOLIDATED CASH FLOW STATEMENT FOR THE ST sy PERIOD FROM I MAY 2019 TO 31 AUGUST 21120 16 month$ ended 3110812020 Year ended 3010412019 Oper4tlng a¢tlwltA Net in¢oming resources before interest Depreciation including loss on disposal Profit disposal of property Loss on disposal of fixed ass¢t$ Release of subsidiary deficit ot) administration DecTeasellin¢reasel ID Stock D￿lease111n¢rea$eI in debtors IDecrea5e)lincrease in ¢redilOTS Corporation tax refunded Net Cash Inflow from (typeratlng aetlvltles 727,497 112,667 {270327) 275,563 (7,448) 368.677 684.533 (1.841,687) 6,582 56.157 2,857,901 117.212 (54.357) (435.567) 1,169,213 3.654,402 FIDan¢lng ￿tti￿tIeS Interest received Interest payable Bard( loan drawdown Ntt t#$h knftlowl(outllow) from flllanefing 4¢tlvttles 1.06fl (16,269) so.000 34.791 4.042 (10,739) {6,697) Investlng *¢tlvltle$ Purchase of tangible fJx¢d assets Disposal of tangible r]A￿ assets Net casb outtlow from ittvestlllg *ttlvltles (1.453.983) 698.000 (755,983> (7.323,026) 4.267 (7,318.759) Net decrease in ca$h for the perlod (665.035> (3.671,0541 Cash and cash equivalents at the begintiing of ibe period 1.114,185 4,785.239 Casb #rtd eash eqmlvalent 4t the end of the perAod 449,150 1,114,185 Ca$b and cash equlvaleDts Cash at bank Bank overthaft 449.2Jl (61) 449.150 1,408,735 1294.550} The notes on pag¢s 16 ￿ 25 fern) part of these finBncial stateTnertts. 15 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES cor4SOLIDATED ACCOUNTS NOTES TO THE FINANCEAL STATEMENTS FOR THEPERIOD FROM I MAY 2019 TO JI AUGUST 2020 l. Comp*ny InformAtSon The Company is limited by guarantee and ts inco￿Orated in North¢rn Ireland. The addr¢ss of the r¢gisl¢red offi¢¢ is I Faith Avenue, The Gateway, Ballymena, Co Antrim BT42 3FF. The financial statements were authorised for issue by the Board on 22 April 2021. 2. Aceountlng pollcles The principal ac¢out)ting policies adopted, judgements and key sources ofestimation uncertainty in the preparation of the f5]wJcial statements are as follows.. Basis of prepAf¥4tion The f￿anCIal ststements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities.. Statement of Rccommended Practiee applicable to tharities PTeporing their accounts in a¢coidance with the Financial Reporting SlandaTd applicable in the UK and Republic of Ireland (FRS 102}- ICharili¢s SORP {FRS 1021). the Financial Repoffling Standard applicabl¢ it) th¢ UK and Republi¢ of Ireland IFRS 102) and the Cornpanies Act 2006. The Company meet5 the d¢r￿ltion of a public benefjt entity under FRS 102. Assets and liabilities are initially recognised &t historical cost and tr8nsaction value unless otherwise st&ted in the relevani accounttng policy notes, Basis of consolidation The ¢onsolidated finartcial stsiem¢nts comprise the fjnancial statements of Green Pasrures, The People'5 Church and all its subsidiarie5 for the period to 31° August 2020. All subsidiary ¢ompani¢s ar¢ wholly owied and controlled by the Group. One of the group subsidiaries. AdvanLe EngineeTing Group LiInited was placed into adminÈstration on 24 August 2020. Th¢ laiestmaxhagemetti accourtts available covered the Peri￿ up to the 30, ApDI 2020. Th¢s¢ T¢5uIt5 are included in the reported ¢ot)solidated figur¢s. The results for the remainder of the period until administration cannot be reliably estimated. There were no intergroup balances or guarantees and therefore any loss for that period would not impact the overall results of the Group. Preparation of aecounts on a goiDg tOD¢ern b#5i$ The Company generally meets its day to day working ¢apital requirements frorn its annual inctsme. The Trustees have obtsined and TeTriewed cash flow forecasts for tb¢ coming year and based on these are satisfEcd that the Company has resource5 to provide a reasonable expectstion that it can continll¢ to me¢t its financial obligations a$ th¢y fall du¢ for the for¢s¢¢abl¢ funlre. Therefore, th¢se financial statements have been PTepat¢d OTJ a going con¢em basis. Incoming resource5 Donations receiv￿ comprises all Cash receivable for ihe accounting period, including aDy related re¢over#ble under Gift Aid. Income is recognised wben the Charity has established an entitlement to the incorne. For donations this is typically upon receipt. Gift aid income is accrued in respect of charitsbl¢ donations a]rcady receipted. Charitsble activity in¢om¢ includ¢$ $al¢ of goods and ¢onfcr¢nce tickct sal¢ it)¢4xne. Resources expended Resources expet)ded are re¢ognt$ed in the period in which they are incurred. Charitable expenditure comprises those cost5 incurred by the eharity in the delivery of its aclivities and 8ervice5 to its beneficiaries. It lllcludes both costs that can be allocated directly to su¢h activities and those cost5 of at) indirect natt]re ecessary to support them. 16 GREEN PASTURES, THE PEOPLE'S CIIURCH AND SUBSIDIARY CON(PANIES CONSOLIDATED ACCOUNTS NOTES TO THE FINANCIAL STATEMENTS (coniin#ed) 2. Accounting po]ieie5 (continued) Short-tenD debtors and trtdfiiors Debtors and credilor5 With no srated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, ar¢ reviewed at the reporttng date lo d¢t¢miin¢ if there is any eviden¢e of poterttial impairni¢n(. Any losses arising from impairment are recognised in the income statemerti in opeTating expenses. Tanglble a$s¢ts The tangible asset5 of the charity comprise of plant and equipment and moior vehi¢les. Equipment is depreciated at a rate calculated to reduce it to residual value at the end of its exp¢¢ted nomial life on a $trdight- line basis at rates tsf 20°/0 per annum. Motorvehiel¢s ar¢ d¢preciat¢d at a rate calculated to reduce themto residual value at the end of their expected nornjal life on a 5traight_ line basis at a rat¢ of 20/0 per attnum. The ass¢ts' r¢sidllal valu¢s at)d usefvl live5 are reviewed, aTJd adjusted, if appropriaie, at the end of each reporting period. The effect tsf any change Is a¢¢ounted forprospectively. Tangible assets are derecognised on disposal orwhen no fvwre economic benefits gre ¢xpected. On disposal, the difference between the new disposal procecds aTJd the ¢arrying amount is recogllised the stsi¢ment of financial a¢tiviti¢s and in¢lud¢d in "charitable aetivity expenditure" Stotk Stock is held at the lower of cost and net realisable value. Cost is detemiined on a first in first oui basis and includ¢s tran5POrt and handling costs. In the case of manufactUTed produ¢ts, cost include all direct overheads, labour and materials costs. Where necessary, provision 15 made fi>r obsolete, 51tsw-rnoving and defe¢iive sro¢k. C*sh and ¢gsh ¢qUiVAl¢nts Cash and ¢ash equivalents includes e&sh in hand and cash at banks. Fitiancl415n$¢rum¢llts The CoMpa￿Y only has fman¢ial zss¢t$ and finat)cial liabiliti¢s of a kind that qualify as basic f￿anCIal iDStrumeDts. Basi¢ financial instrU￿¢￿ts are initially re¢ognised at transa¢tion pri¢e and subsequently measured at their settlement value. FllDds Funds are classified as either unrestricted funds orrestricted funds, defined as follows. Unr¢$trict¢d fitnds are extaable at tbe dtscretion of the trnstees ill furtheran¢e of the objects of the charity. If parts of the unrestri¢ted funds are eaErnarked ai the di5rtion of the trustees for a particular pury>ose. they are designated as a s¢parat¢ fund. This d¢signation ha$ all administrative pU￿oSe only and does not legally restrict the trustee5' discretion ¢0 apply the fund. Restricted funds are fi￿d5 subject to specific requirements a5 to their use which rnay be d¢Glared by th¢ donor orwith th¢ir authtsrity or crea(ed through legal prOce￿S. bul still within the wider objects of the Charity. Pension5 The Chatity operates a defined contribution sch¢m¢ for all stsff. Employer contribution5 are charged through the income and expenditure account when incurred. GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDtARY COMPANIES COIYSOLIDATED ACCOUNTS NOTES TO THE FINANCIAL STATEMENTS (¢&Mli•u¢d) 3. Critica] accounting j￿dgeMents and e5timY4tion uncertainty Estimates and judgmeDt5 made in the process of preparingthe financial statement5 are ¢oIitinu#lly evaluated and are based on historical experience and other factors, including expectations of events that are believed to be reasonabl¢ und¢r th¢ cir¢umslan¢es. The Trustees do not consider that there ai¢ any critical judgments made in applying the Company's accounting policies or that there are any critical accounting estin￿teS or a55uniptsons which Tnay have a significant risk of cau5in8 a ￿￿terIal adjustment io carrying amoullts of assets and liabilitie5 within Ihe next f￿a￿cial year. 4. AnAty$is of In¢ome Unrutritted FuNd5 Cbaritable Restrldtd Funds Cbarltable 16 months ended 3110812020 Unrestrleted Funds Trgdlng 16 n)ouths tndtd 3110812020 Tot41 Total Year ¢nd¢d 3010412019 16 month5 eDded 31mw2020 16 m(bnth$ ended 31108ll020 DoDatlOlls received Frorn ittdividuals and corporate bodies Tax ￿0vered on donations 867,056 121,525 988,581 968J34 30,864 999,198 1.835,390 152,389 1,987,779 3,689,354 159,017 3,84S,371 Charitable activities Ancillary trading actI￿tteS Profit on disposal of fixed assets 50.873 21540 72,413 90,481 270,227 28,618 320,385 270,227 28,618 371,258 Student fee incorne 20,311 110.792 50,873 Turnover 1,978,974 1,978.974 3.445.411 Interest received 944 l]6 1,•60 4.042 Other income 12,204 12204 22,700 Tot#1 ineome 1.040.398 1,319,699 1.991,178 4J51275 7,431.316 GREEN PASTURES, THE PEOPLE'S CItURCH AND SUBSIDLIRY COMPANIES COIYSOLIDATED ACCOUNTS NOTES TO THE FINANCIAL STATEMENTS fcontinued) 5. Att#]ysis of expendlture Unrestrl¢ted Funds Charitable 16 month5 ended 3110812020 Restricted Fund$ Ch*ritabl¢ UDre5trictsd Funds Tradlng 16 Jnonths eDdtd 3110812020 Total 16 month$ ended 3110812020 Totsl 16 months ended 31108J2020 Year ended 3010412019 Charitable #ctSvltles Wag¢5 and salaries Donations to a5SOCi4t¢d rharities Othei chaTitabl¢ donations Activity costs Property costs Administration costs Auditors remuneration D¢pr¢ciation Other expens¢s Recharge of overheads 647,317 6J.527 3,200 47,816 197,910 22,184 16,000 13.931 4.234 {57.626) 647,317 71.427 81,444 284,701 270,137 31,282 ifjoTh) 30,437 6948 (57,626) 447,010 226,074 66,595 238,600 136,566 27.246 18.740 36.791 7.147 (36.0(K)} 9.900 78.244 136,885 72.227 9,098 16,506 2,714 956,493 425.574 1,382,067 1.168,769 Tr$de operatlng expense5 Cost of sales- materials Wages and salaries (including agency staft) Oiher charitable donations Factory overheads Management fees Property costs AdministratLOll Costs 652,011 652,011 1.449.334 1,1140,195 34,055 114,221 52,129 106,319 72.133 1,040,195 34.055 114,221 52,129 106J19 72,133 1,215.187 123.835 253,290 55,909 105,191 96,697 13,250 10,739 87,911 Auditors remuneration Intcrcst paid Other expenses Release on administration of subsidiary 16.269 169,588 16,269 169,588 7,448 7.448 2.264.368 2364J68 3.411.343 Totil expendlture 956,493 425,574 2,264,368 3,646.435 4.580.112 19 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDLIRY COMPANIES CONSOLIDATED ACCOUNTS IYOTES TO THE FINANCIAL STATEMENTS fcontinued) Analysis of staff eost$. trustee remuneratlon and expen$ts. and tbe cost of key personnel 16 month5 ended 311118120211 Year ettded 3010412019 Salaries and wages National insurance costs 1371,923 96J47 19242 1,687,512 1,493,084 93.179 18,231 1,604.494 Employer ￿nSion ¢ontTibutions The average number of employees during the period was 6812019.. 87) There are no employ¢¢s in w¢ipt of ernployee b¢n¢fits in excess of £30,000. No ttustee or a person related lo 3 ttustee had any personal interest in any contract or transaction entered into by the charity during the period. Rernuneration paid to TNstees totalled £nil12019.. £nil) in aggTegate for the period. No expenses were incurred in respect of Trll5tee5. 7. TrarAsfer5 behveen fund5 Unrestricteil funds ar¢ Spent or applied atthe discretion of the tw$tees to further anyofthe chan'ty's purposes. Unrestricted fvnds tllay be used to Supplement expenditure ]Dade froTn restricted fill)ds. 8. Tgxation ch8rgel(tredit) 16 months tndcd 31108r2020 Year ended 3010412019 UK Current tax (6,581) (3.523) (10,104) Deferred tax (42.440) (42,440) 20 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDLIRY COMPANIES CONSOLIDATED ACCOUNTS NOTES TO THE FIf4ANCIAL STATEMENTS {contiMHed) 9. Tgngible fixed a55ets- the Group FY¢ehold land aDd building5 And leasehold improvement$ Plant and machlnery Motor Vehl¢les Equlpment Total Cost At I"May2019 Additions 21,018,188 ,437,167 {464,010) 21991,345 386.885 878,657 16,816 {159,665) 735,808 34,385 22,318,115 1,453,983 (1,032,310} 22,739,788 Disposals At 3111 August 2020 (386,885) (21,750) 12,635 Depr¢¢i#tio At 151May2019 Depr¢¢iation Eliminaied on disposals At 31" August 2020 26,717 4.961 (31,678) 117,213 45,333 (162,546) 749,133 60,073 (113,448) 696,358 32,237 1,700 {21,302) 12.635 925,300 112,667 {328,974) 708,993 Net book value At 31" August 2020 At 30 April 2019 21.991,345 20,991,471 39,450 129,524 22,030,795 21,392.815 269,672 2,148 10.T#nglble fixed assets- Company Freehold land and Motor Vehicles Equipment Total Cost At I"May2019 Addiliotts Disposals At 31" August 2020 20,981,954 1,437,164 {427,773) 21,991,345 659,974 6,879 5,835 21,647.763 1,444.043 (427,773) 22,664,033 666053 5,835 Depre¢Satlon At I#May2019 Depr¢¢iation At 31" August 2020 606,172 30,437 636,6119 5.835 612,007 30,437 642,444 5,835 Net book value At 31" August 2020 At 30 April 2019 21.991J45 20,981,954 30.244 53,802 22,021,589 21,035,756 21 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS NOTES TO THE FINANCIAL STATEMENTS (coniintsed) I l.Inve$tment$ 3110812020 Group 3010412019 Group 3110812020 CompADy 3010412019 Company Sh8res in Subsidiary Companies The Compa￿Y is the ultimate IOO*/e parent of tbe following subsidiaries all of which are incorporated in Northem Jreland and have period ends ¢oterniinou$ with that of the parent Company. Aggregate #ssetsl (liabilitiesy fund5 Company name Company number Bu$ln¢$$ Profitl Oos$) Turnover Exptndlture Confidence Enterprises Lilnited Advance Engineering Group Limited The Gateway Social Investment Limited KJ"ngdom Social Investments Limited Gateway Busin¢ss Park Limited N1633890 Intern)ediate holding comparty (1,954) 29,087 31,042 (1,955) N1636857 Manufacturing administration 1.506.523 1,769,643 {263,120) Nt618278 So¢iil economy business 16.162 472.451 471,462 989 N1073763 DornMIt (60) N1643244 DOrn￿￿t 12.Stock 311081202 3010412019 3110812020 3010412019 Group Group CompADy Con)pany Raw materials Work in progress Finished goods Goods for resale 235,571 40,069 89,359 4.678 369.677 I,ouo 1,000 5110 4,678 4,678 500 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS NOTES TO THE FINAf4CIAL STATEMEP4TS (colltilluÉd) 13.Otb¢r debtor5 prepoyments 3110812020 3010412019 3110812020 3010412019 Group Group Compgny Company Trade debtors Other debtors 19,666 102.714 697,701 114,206 1,588 91,642 64,381 ,588 Prepaytnents GTOUP iIlter-COTDpaDy balances 2,442 124,822 2,442 94,084 813,495 65,969 Group illter-company balaDce8 ar¢ sho￿) to reflect the segregation betw¢¢n charitabl¢ and trading activiti¢s in the balance sheet. The arnounls above are offset by a matching creditor balance below (note 14). 14.Creditors: due Trvithin one year 31m812020 3010412019 3110812020 3010412019 Group Group Company Company Bank overdraft 61 294.550 459,348 121,894 48,243 12,546 1268,710 210,645 Trade creditors Other creditors 40,946 Hire purchase Pa￿011 tsxes Building constrn¢tion costs due A¢cNals 17J13 287,000 40,156 1,442 8,891 287,1100 40,156 1,268.710 40.156 Group inl¢r-company balances Amounts due to associated companies 387.918 2,415,936 336,048 1,308.867 I&Credltors: due after m(bre than one yeAr 3110812020 3010412019 Group 3110812020 Company 3010412019 Company Group Bank loa Obligation$ under hir¢ purchas¢ agreemen15 50,000 105.716 105,716 50,000 23 GREEN PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES CONSOLIDATED ACCOUNTS NOTES TO THE FINANCIAL STATEMENTS (cÉ>MlillMed) 10.Provisions for liabilities #nd ¢h8rge5 3110812020 Group 3010412019 Group 3110812020 Company 3010412019 Company Deferred taxatlon Asat IstMay2019 Cr¢dited to the profit and 105s account As at 31" August 202 42,440 (42,440) 45,963 13.523) 42,440 17.ProfIt for the f￿￿￿¢1￿1 perlod As perrnitt￿ by S¢ctiOT) 408 of The CuTnpanies Aci 2(X>6 the Parent Company'5 Statelnent of Financial Activtties ha5 not been iD¢luded in these financial statements. The Charity had a reiained surplus of £990,730 (2019.. £2,807,215). I&FiDancial instruments Ai the balance sheet date the Group held tbe following f]nancial instruments.. 31111812020 3010412019 FiTJancial assets that aTe debt in5truTnents measured ai amortised c05t 571,591 2.220.643 Financial liabilities m¢&wrcd at arnortised c05t 345,320 2,311,(H)8 19.Related party transactions The Group has taken advantage of the exemption provisions in FRS 102 perniitting nOD41isclosuie tsf tran5actioDS with fellow group conyanies. The Company is the Uliimate Parent CoEnpany of the group. Transactions with non-group related parti¢s, r¢lated thri)ugh virtue of common Control were as follows.. 16 months ended 31A1812020 Year ended 3010412019 Donations to associated charity, Compassion Mini5trie5 Don2tions to associated charity, Connect Ministrie5 Donation5 from associated charity, Cot)n¢¢t Ministries Reitnbursement of overheads from associated charity, Conneci Ministries 21J30 86272 194.966 147.381 5,791 3.991 Kty management personnel: The directors of the Company and its subsidiaries are considered to be the key management personnel. Directors, rernuneration 15 disc105ed in note 6. 24 GREEf4 PASTURES, THE PEOPLE'S CHURCH AND SUBSIDIARY COMPANIES COIYSOLIDATED ACCOUNTS NOTES TO THE FINANCIAL STATEMENTS (Conti￿¥¢d) 20.C*pit#] eommitmertts At 31" August 2020 the Church had capital Committnents of £Nil in relation to the ollgoing wo￿5 at Ball¢e, which have not been provided in the accounts130 April 2019.. £476,091). 21.Ev¢nts after the end of the reporting period The Church and associated opeialions relocated to their new preTnises after the end of the reportiDg period. expiration of their pr¢vious t¢nancy, thc landlord raised & claim for dilapidatio￿$. Th¢ validity of the claim has Dot y¢t been established and therefore a reliable ¢5timate cannot be provided at this ttme. 22.Controlling party During the period Green Pastures, The Pe4)ple'$ Church was under the control of the Trustees {who are also the directors). 25