The Norwegian Church - Charities report - 20.2

REGISTERED COMPANY NUMBER: 10674059 (England and Wales)

REGISTERED CHARITY NUMBER: 1176607

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

THE NORWEGIAN CHURCH

Page

Report of the Trustees

1

to

4

Report of the Independent Auditors

5

to

6

Statement of Financial Activities

7

Balance Sheet

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

to

21

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2019. 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 Norwegian Church in London dates back to 1692 when the Danish/Norwegian congregation was formed. In 1696 a Danish Norwegian Church was consecrated in Wapping, but from 1868, The Norwegian Seamen's Mission of Bergen, Norway, took over the responsibility for Norwegian seafarers and expatriates in London, under the jurisdiction of the Bishop of Bergen, Norway. A new church was built and consecrated in Surrey Docks area in 1872 and finally, St. Olav's Church, the present church, was built and consecrated in 1927.

The purpose of the Church and Charity is to serve Norwegian expatriates and seafarers in London and South East England, even though the church's jurisdiction covers all UK. St. Olav's Church is a Christian, Cultural and Social Centre for Norwegians and has between 20 and 25 thousand visitors each year. In 1996 an extension was built to accommodate the increasing number of people and activities.

Until 31 December 2018 the activities of the charity were undertaken by The Norwegian Church and Seamens Mission (a trust based charity, charity number 220235). The trustees of that charity, after taking suitable advice, took the decision that the trust based structure would no longer the most appropriate form for the charity in the future. The Norwegian Church was incorporated in 2017 and registered with the Charity Commission of England and Wales on 10 January 2018. On 1 January 2019 the assets and liabilities of The Norwegian Church and Seamens Mission were transferred to. The Norwegian Church. The trustees of the two charities are the same.

Significant activities

In line with the Basic Rules and Strategy Document of The Norwegian Seamen's Mission/Norwegian Church abroad, as well as our local strategy plans, we have achieved our objectives. Services, baptisms, confirmations, weddings and funerals are part of the work of the Church, as well as cultural events and social work amongst the target groups.

Social work includes monthly home visits to the elderly, hospital visits to sick Norwegians and prison visits. In addition, during the winter months the charity participates in the Robes Project for homeless.

Cultural events includes the annual Constitution Day Celebrations, Sunday lunch after the Service, weekly toddler song and family lunch, weekly Saturday school and lunch, monthly students dinner and Women Society every fortnight.

The charity continues to plan for the construction of flats to the rear of the church.

Public benefit

The trustees confirm that they have complied with the duty in s17(5) of the Charities Act 2011 to have due regard to the Charity Commission's guidance on public benefit. This includes the additional guidance for charities on the advancement of religion, in deciding what activities the charity should undertake, in line with its aims and objectives.

ACHIEVEMENT AND PERFORMANCE

Fundraising activities

The biggest fundraiser locally is the annual Christmas Fair selling goods imported from Norway as well as handicraft produced by local parishioners. The church has continued to provide support to it's visitors.

FINANCIAL REVIEW

Financial position

As noted above the assets and liabilities of The Norwegian Church and Seamen's Mission were transferred to the charity on 1 January 2019.

A summary of the year's results are presented on page 3. Total incoming resources amounted to £799,274 (2018: £926,285) and total resources expended amounted to £881,201 (2018: £899,271).

The balance sheet on page 4 shows total funds at the year end of £1,930,059 of (2018: £2,011,986). All funds are unrestricted, however this amount includes a designated fund (Norwegian Benevolent fund) with a balance of £76,357 (2018: £80,004).

A large proportion of the funds consist of properties, therefore the charity's reserves are £39,947 (2018: £166,250).

The charity's income is derived from sources in the UK and Norway. The Norwegian Central Administration pays the salaries. The Norwegian Head Office guarantees the cash flow requirements of the charity; consequently if there is a cash shortfall caused by reduced activity or a reduction in the income generated locally funding will be made available to ensure the charity can continue its operation.

Annual and monthly accounts, as well as budgets are sent to the Norwegian Seamen's Mission in Bergen, Norway and are subject to their approval.

Reserves policy

It is the trustees' policy is to retain sufficient reserves to ensure that the charity's day to day commitments can be met.

Reserves at the 31 December 2019 amounted to £39,586 (2018: £166,250) and were held as primarily as cash balances.

The charity is dependent on donations, legacies and fund raising events for the majority of its income, the timing and amount of which is variable in nature. The trustees therefore consider holding reserves equivalent to 2 - 6 months costs to be appropriate.

During the year the charity used some of its reserve on planning and preparation costs of the development of flats to the rear of the church which will generate a future income stream for the charity.

The charity is able to call upon the support of its head office in Norway to help fund its operations.

FUTURE PLANS

Thew charity continues to plan for the construction of flats to the rear of the church, which once rented will generate future income for the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity was registered by the Charity Commission for England and Wales on 10 January 2018.

The charity is controlled by its governing document, its articles of association dated 16 March 2017, and constitutes a company limited by guarantee, as defined by the Companies Act 2006.

Decision making

The trustees meet at least four times a year and are elected on a rotating basis for three year terms.

Induction and training of new trustees

New trustees are given full information on the work of the charity over the last years including minutes, annual reports and accounts. Where appropriate, external training courses for trustees are offered and internal training is also provided. Representatives from the Church of Norway Abroad will occasionally visit the charity and give input to the trustees.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed, in particular those related to its operations and finances, and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error, and to mitigate its exposure to major risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

10674059 (England and Wales)

Registered Charity number

1176607

Registered office

1 St Olav's Square

Albion Street

London

SE16 7JB

Trustees

Ms A Marwa

Rev T Holt (resigned 5/3/2020)

Mr B Bratland

Mrs A M Hovland-Pye

Mr V S Dart

Rev D M H Havgar (appointed 5/3/2020)

Auditors

Rothmans Audit LLP

Statutory Auditors

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Norwegian Church for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charity SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Rothmans Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 28 October 2020 and signed on its behalf by:

Rev D M H Havgar - Trustee

Opinion

We have audited the financial statements of The Norwegian Church (the 'charitable company') for the year ended 31 December 2019 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 December 2019 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

-	the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

-

the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of trustees' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Robin Lloyd FCA (Senior Statutory Auditor)

for and on behalf of Rothmans Audit LLP

Statutory Auditors

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

29 October 2020

2019

2018

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

4

428,159

-

428,159

575,605

Charitable activities

7

Charitable Activities

176,397

-

176,397

156,298

Other trading activities

5

122,069

-

122,069

104,460

Investment income

6

71,949

-

71,949

89,922

Other income

700

-

700

-

Total

799,274

-

799,274

926,285

EXPENDITURE ON

Raising funds

8

164,198

-

164,198

165,912

Charitable activities

9

Charitable Activities

717,003

-

717,003

733,359

Total

881,201

-

881,201

899,271

NET INCOME/(EXPENDITURE)

(81,927

)

-

(81,927

)

27,014

RECONCILIATION OF FUNDS

Total funds brought forward

2,011,986

-

2,011,986

1,984,972

TOTAL FUNDS CARRIED FORWARD

1,930,059

-

1,930,059

2,011,986

2019

2018

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

16

1,541,042

-

1,541,042

1,496,666

Heritage assets

17

349,070

-

349,070

349,070

1,890,112

-

1,890,112

1,845,736

CURRENT ASSETS

Stocks

18

4,194

-

4,194

7,419

Debtors

19

34,138

-

34,138

77,549

Cash at bank and in hand

41,201

-

41,201

94,528

79,533

-

79,533

179,496

CREDITORS

Amounts falling due within one year

20

(39,586

)

-

(39,586

)

(13,246

)

NET CURRENT ASSETS

39,947

-

39,947

166,250

TOTAL ASSETS LESS CURRENT LIABILITIES

1,930,059

-

1,930,059

2,011,986

NET ASSETS

1,930,059

-

1,930,059

2,011,986

FUNDS

21

Unrestricted funds

1,930,059

2,011,986

TOTAL FUNDS

1,930,059

2,011,986

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 28 October 2020 and were signed on its behalf by:

Rev D M H Havgar - Trustee

Cash flows from operating activities

Cash generated from operations

1

(6,112

)

45,682

Net cash (used in)/provided by operating activities

(6,112

)

45,682

Cash flows from investing activities

Purchase of tangible fixed assets

(47,956

)

(254,485

)

Sale of tangible fixed assets

700

-

Interest received

41

52

Net cash used in investing activities

(47,215

)

(254,433

)

Change in cash and cash equivalents in the reporting period

(53,327

)

(208,751

)

Cash and cash equivalents at the beginning of the reporting period

94,528

303,279

Cash and cash equivalents at the end of the reporting period

41,201

94,528

1.	RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2019

2018

£

£

Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities)

(81,927

)

27,014

Adjustments for:

Depreciation charges

3,580

6,774

Profit on disposal of fixed assets

(700

)

-

Interest received

(41

)

(52

)

Decrease/(increase) in stocks

3,225

(2,105

)

Decrease in debtors

43,411

38,974

Increase/(decrease) in creditors

26,340

(24,923

)

Net cash (used in)/provided by operations

(6,112

)

45,682

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/19

Cash flow

At 31/12/19

£

£

£

Net cash

Cash at bank and in hand

94,528

(53,327

)

41,201

94,528

(53,327

)

41,201

Total

94,528

(53,327

)

41,201

1.	CHARITY INFORMATION

The Norwegian Church an incorporated charity was incorporated in England and Wales on 16 March 2017 (registration number 10674059) and was registered as a charity with the Charity Commission for England and Wales on 10 January 2018 (registration number 1176607) .

The registered address is 1 St Olav's Square, Albion Street, London, United Kingdom, SE16 7JB.

The principal activity of The Norwegian Church is religious and social welfare.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The functional and presentation currency is £ sterling.

Preparation of the accounts on a going concern basis

The Charity reported a cash outflow of £94,528, however, the Trustees are of the view that the costs incurred during the year in respect of the planned construction of new flats to the rear of the Church will secure the immediate future of the Charity. The Charity also continues to maintain the support of the Head Office in Bergen, Norway. On this basis, there are no material uncertainties about the charity's ability to continue and therefore the charity is a going concern.

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.

Allocation and apportionment of costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include personnel, finance, administrative and governance costs which support the operation of the charity and its activities. These costs are allocated between the costs of charitable activities and raising funds.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Fixtures and fittings

-

20% straight line

Fixed assets

All fixed assets are initially recorded at cost.

Properties are included at cost at the time of acquisition and are all functional. No depreciation is provided on freehold property. Depreciation would be immaterial due to the high residual values of the assets. An annual impairment review is undertaken for those tangible fixed assets which are not depreciated. Individual fixed assets costing £1,000 or more are capitalised at cost.

Heritage assets

The charity owns a historic Church dating back to 1927, located at 1 St Olav's Square, Rotherhithe, London, SE16. The Church is maintained by the charity for use by the local Norwegian community as a place of worship and culture.

The Church is reported in the balance sheet at the original cost. The Church is deemed to have an interdependent life and therefore the Trustees do not consider it appropriate to charge depreciation in respect of the Church. An annual impairment review is undertaken for the Church.

Stocks

Stock is valued at the lower of cost and net realisable value. Net realisable value is based on expected proceeds less cost to sell. Donated items of stock are recognised at fair value which is the expected sales proceeds less to cost to sell.

Debtors

Debtors are recognised at the settlement amount due after any trade discount offered.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount after allowing for any trade discounts due.

Taxation

The charity is exempt from corporation 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.

Unrestricted funds are available to spend on activities that further any of the purposes of the Church. Designated funds are unrestricted funds of the Church which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Church's work or for specific projects undertaken by the Church.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Significant Judgements

In preparing these account the trustees have made the following judgements:

Determining whether income is restricted or unrestricted. These decisions depend upon whether the donor has given the income subject to certain terms or conditions which impose a restriction in trust law.

Determining whether the residual values of freehold property are sufficient to result in no depreciation being charged.

Determining whether the church meets the definition of a heritage asset.

Key Sources of Estimation Uncertainty

Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. The actual lives of the assets and residual values may vary depending on a number of factors. Factors affecting the lives of assets include technological innovation and maintenance programmes.

4.	DONATIONS AND LEGACIES

2019

2018

£

£

Regular annual donations

17,376

37,775

Donations

15,650

8,266

Weekly collections

8,748

9,329

Wages and salaries paid by The Norwegian Seamen's Mission in Bergen

289,542

287,891

Other grants

96,843

62,665

Legacies

-

169,679

428,159

575,605

5.	OTHER TRADING ACTIVITIES

2019

2018

£

£

Christmas fair

122,069

104,460

6.	INVESTMENT INCOME

2019

2018

£

£

Rents received

71,908

89,870

Interest receivable

41

52

71,949

89,922

7.	INCOME FROM CHARITABLE ACTIVITIES

2019

2018

Activity

£

£

Events

Charitable Activities

126,094

115,397

Canteen

Charitable Activities

38,548

40,084

Sundry

Charitable Activities

11,755

817

176,397

156,298

8.	RAISING FUNDS

Raising funds from charitable activities

2019

2018

£

£

Canteen

36,398

40,717

Events

66,558

61,035

102,956

101,752

Other trading activities

2019

2018

£

£

Christmas fair

59,225

62,472

Church magazine

2,017

1,688

61,242

64,160

Aggregate amounts

164,198

165,912

9.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs (see

costs (see

note 10)

note 11)

Totals

£

£

£

Charitable Activities

703,819

13,184

717,003

10.	DIRECT COSTS OF CHARITABLE ACTIVITIES

2019

2018

£

£

Staff costs

481,366

462,867

Rent rates and insurance

89,315

101,149

Light and heat

28,005

28,693

Telephone

14,142

17,155

Postage and stationery

2,122

2,782

Sundries

20,355

19,251

Catering equipment

3,159

1,554

Repairs and renewals

33,347

51,653

Motor and travel

14,761

20,980

Bank charges

3,094

3,073

Foreign exchange (gain)/loss

6,885

4,411

Payments from designated funds

3,688

4,541

Depreciation

3,580

6,774

703,819

724,883

11.	SUPPORT COSTS

Governance

costs

£

Charitable Activities

13,184

12.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2019

2018

£

£

Auditors' remuneration

3,270

3,270

Depreciation - owned assets

3,580

6,774

Surplus on disposal of fixed assets

(700

)

-

13.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2019 nor for the year ended 31 December 2018.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2019 nor for the year ended 31 December 2018.

14.	STAFF COSTS

2019

2018

£

£

Wages and salaries

481,366

462,867

481,366

462,867

The average monthly number of employees during the year was as follows:

2019

2018

Staff

26

22

No employees received emoluments in excess of £60,000.

During the year key management personnel received remuneration of £58,652 (2018: £56,495) and rent free accomodation at a property owned by the charity.

15.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

575,605

-

575,605

Charitable activities

Charitable Activities

156,298

-

156,298

Other trading activities

104,460

-

104,460

Investment income

89,922

-

89,922

Total

926,285

-

926,285

EXPENDITURE ON

Raising funds

165,912

-

165,912

Charitable activities

Charitable Activities

731,860

1,499

733,359

Total

897,772

1,499

899,271