FRONTIERS ANNUAL REPORT & ACCOUNTS 2024
CONTENTS Annual report What we do Our impact in 2024 Future plans Financial review Structure, governance & management Corporate directory Annual accounts Statement of financial activities Balance sheet 10 Cash f low statement 11 Notes to the financial statements 12 Independent auditorfs report 19
WHAT WE DO We help churches to identify, train, send and support members overseas: for the benefit of local communities, in teams, making known the love and teaching of Jesus, prioritising communities with least opportunity. Our strategies to achieve this objective are: raising awareness in Britain of opportunities for service (website, social media, podcast, publications, prayer news, conferences and events), encouraging enquirers: small groups, short visits, training and coaching, helping applicants to train, connect and join over 280 overseas teams, supporting field members, with their churches, practically and pastorally, supporting projects that benefit communities, according to local needs, including education, development, local businesses, relief work and healthcare. We are part of the wider Frontiers movement - an international fellowship of semi- autonomous teams comprising 2,100 members in over 80 countries. Each team or organisation operate5 independently, but with clear lines of accountability and oversight, and a strong commitment to shared vision and values. OUR IMPACT IN 2024 Recruitment and development of long-term harvest workers We thank God for 13 new long-term members sent overseas in the last 18 months, and 11 applicants preparing to go in 2025-26, including new teams to new locations. We continue to work closely with a cohort of about 100 young people taking active steps to explore long-term overseas service. Members of this group meet regularly online and attend quarterlyface-to-face weekend training events. 31 people went on a series of short-term vision/prayer/training overseas trips last year. Our pre-field training programme continued well, with field candidates training three times a year, including a week-long event which includes practical training in evangelism. Pre-field preparation includes personal mentoring, and the coachin8 and development of new team leaders.
We increased support for sending from other nation5 in Asia, Europe, and South America through finance, mentoring, shared resources and training. A particular encouragement recently was a well-attended training event in Central Europe in partnership with a local sending agency. In both Britain and across the world, we are seeing growing faith and passion for global mission among young people as they seek training and mentoring to give their lives for others in challenging locations. Information and communications As well as speaking and offering support and training at churches, universities, and other venues, we continued to upgrade our website and expand our increasingly popular online resources. These include the Momentumyes video and discussion course, used widely by churches and small groups to equip believers to share Christ across cultures. Our RA Wmission podcast featuring life-changing interviews-now boasts 80 episodes and over 100,000 downloads across 160 countries. In 2024, we hosted a well-attended Awoken prayer weekend for young adults exploring overseas missions. This event is running again this year at a larger venue. Care and support for local communities We continue to raise and distribute funds-with careful oversight and supervision to support over 200 field members and field projects. Some initiatives provide short- term relief, such as food parcels and temporary shelters in response to conflict, natural disasters, or displacement. Others, supported by long-term teams, focus on sustainable community development through training, education, and healthcare. Our member care team, working in partnership with sending churches, received excellent feedback over the past year. They continue to provide vital support to all field members and their families, with particular attention to those in transition or serving in especially challenging locations. FUTURE PLANS Over the past year, after much prayer, we have felt led to launch a campaign to double our impact specifically, the number of long-term field members, our community of committed prayer partners, and our financial support base. This vision is a response to the unprecedented opportunities that have opened up around the world in recent years.
We have already been encouraged in pursuing these goals. Our largest-ever supporters and enquirers conference last November, along with a strong increase in enquirers actively taking steps toward long-term ministry, have been significant affirmations of this direction. We are about to purchase the freehold of premises in central High Wycombe for £l.Im, being financed by sale of our existing freehold property outside High Wycombe and a long-term loan. This larger facility allows us to grow our home tearn, and offers greater flexibility for training, internships, 3 recording studio and future developments. Our goals for 2025-26 include the development of enquirers groups meeting locally, giving increased support and leadership development opportunities for the growing number of young people across the UK pursuing long-term overseas service. We are also expanding a variety of short-term overseas visits for vision or prayer. We are also launching a new initiative to support British churches in developing their vision for overseas ministry to least reached peoples and places. FINANCIAL REVIEW We thank God for total income of £1.7M in 2024, (shown on page 9). This was below 2023 when we received substantial gifts for projects and disaster response. Total expenditure in 2024 of £1.9M was slightly below 2023 due to returning field members. Specific gifts are promptly applied to support field members and projects. Net assets in December 2024 (shown on page 10) of £973k comprised: £116k of restricted reserves, being gifts for specific projects or members, £619k of designated funds, mainly for purchase of larger premises, and £238k in the general fund, not designated for a particular purpose. Volunteers on our home team contributed an average of 13 days per week and were engaged in all areas of activity, especially pastoral support of overseas members. Grants from restricted funds are made in line with donors, wishes, and from unrestricted funds in line with the trustees, judgment. Grants are made only to members and projects which demonstrate clear supeniision, oversight and accountability, to ensure they are used effectively to benefit local communities.
The trustees, policy is to maintain the general fund at between 3 and 6 months of unrestricted expenditure. At this level, activities could continue in the event of a significant drop in income until remedial action becomes effective. The general fund at 31 December 2024 of £238k represented 7 months of unrestricted expenditure. Our investment policy is to maintain high liquidity while ensuring maximum security, with funds invested with financial institutions protected by the government-regulated Financial Services Compensation Scheme. The Charity has no social investments. Fundraising practices No outside agents are engaged to approach the public on our behalf; all applications for funds are prepared in-house; and no complaints have been received about our fundraising practices. We seek to protect vulnerable people and others from unreasonable intrusion from any fundraising communications, Where vulnerable people or those acting on their behalf request no further communications, we act on their wishes immediately. We also remove recipients of communications from our mailing list when requested. We are registered with the Fundraising Regulator and committed to the Fundraising Promise and adherence to the Code of Fundraising Practice. STRUCTURE, GOVERNANCE & MANAGEMENT Frontiers is a charity and a company limited by guarantee, governed under a memorandum and articles of association. Legal and administrative details are set out on page 8. Overall responsibility lies with the board of trustees (who are also directors for the purposes of company law). Trustees retire each year but are eligible for re-election. New trustees are appointed by the board, who seek people with relevant skills and experience, and in sympathy with the Charity's objectives and ethos. Induction and training are provided on a personal basis as appropriate. Policy and major financial decisions are made by the board. Day-to-day running of the Charity and responsibility for irnplementing these decisions are committed to the chief executives. Trustees give their time freely and receive no remuneration. Trustees, expenses and other related party transactions are disclosed in Note 6 to the accounts.
Mernbers located overseas are accountable to local and regional team leaders and raise their own financial support. They have the backing of the Charity in raising support, including the provision of training and expertise. Home staff are encouraged to raise their own financial support. Modest salaries are paid to some staff, including the chief executives. The trustees have regard to the Charity Commission's published guidance on public benefit. The Charity delivers a public benefit to many communities through services provided by overseas members, including support to those suffering from conflicts and natural disasters and projects to promote long-term development of local communities, through training, education, healthcare etc. Risks and uncertainties The trustees have reviewed the Charity's current and planned future activities in the light of major risks, and the effectiveness of systems and procedures designed to manage them. The principal risks and uncertainties are reputational damage in the event of a high- profile complaint or legal action alleging lack of due care for staff or field members. a sharp reduction in donation income. or financial mismanagement. Our plans to manage risks include careful assessment of applicants, risk assessments and contingency plans, a support network for overseas members, a system of financial controls, a robust safeguarding policy, incident reporting, strong oversight and accountability of field projects, maintaining adequate financial reserves, secure IT systems and insurance cover. The trustees consider adequate resources will continue to be available to fund activities for the foreseeable future, there are no material uncertainties about the Charity's ability to continue operating, and it therefore remains a going concern. Auditor Xeinadin Audit Limited offer themselves for re-appointment as auditor in accordance with Chapter 2 of Part 16 of the Companies Act 2006.
Trustees, responsibilities in relation to the accounts The trustees are responsible for preparing this report and financial statements in accordance with United Kingdom Generally Accepted Accounting Practice, Accounting Standards and applicable law. 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 Charity and of the net income and expenditure of the Charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them con51Stently, observe the methods and principles in the Charities SORP, make judgments and estimates that are reasonable and prudent, state whether applicable UK Accounting Standards have been followed, subject to any material departures explained in the financial statements, prepare financial statements on a going concern basis unless it is inappropriate to presume the Charity will continue in business. The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charity's transactions, to disclose with reasonable accuracy at any time the financial position of the Charity, and to enable them to ensure financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the Charity's assets and taking reasonable steps for the prevention and detection of fraud and other irregularities. As far as each trustee is aware: there is no relevant audit information of which the Charity's auditor is unaware. and trustees have taken all steps they should have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that inforrnation. This report was approved by the board on 15 July 2025. K Elmitt (Trustee)
CORPORATE DIRECTORY Company Registration Number 2585745 Charity Registration Number 1012566 Trustees K Elmitt (Chair) D A Aanderud M J Knell l M Linton R Moffat P N Maclnnes J L Richards (appointed 7 March 2025) Chief Executives P A Bancroft M D Jones Principal Address PO Box 1445 High Wycombe, HP12 9BU Registered Off ice 5 Robin Hood Lane Sutton, SMI 2SW Auditor Xeinadin Audit Limited Chartered Accountants 5 Robin Hood Lane Sutton, SMI 2SW Principal Bankers Barclays Bank plc PO Box 23 Northampton, NNI 4YD CAF Bank Limited 25 Kings Hill Avenue West Malling, ME19 4JQ
FRONTIERS STATEMENT OF FINANCIAL ACTIVITIES (incorporating an income & expenditure account) for the year ended 31 December 2024 Unrestricted Restricted Funds Funds Total 2024 Unrestricted R8Stncted Funds Funds Total 2023 Note INCOME & ENDOWMENTS Donations & legacies Charitable activities 261,235 1,432,086 1,693,321 227,365 1, 654,207 1, 881, 572 7,686 7,686 14.985 14.985 Investment income 16,542 16,542 13,535 13,535 Totsl income 285,463 1,432,086 1,717,549 255, 885 1, 654,207 1, 970,092 EXPENDITURE Raising funds Charitable activities.. 29.358 2,119 31,477 23,731 1,539 25,270 Programme development & support Information & education 281,240 1,446,461 1,727,701 306,909 1, 585,488 1, 892,397 50.342 27,934 78,276 56,482 26, 125 82,607 Management & administration 37,207 2,800 40,007 34,299 2, 787 37,086 Total expenditure 398,147 1,479,314 1,877,461 421,421 1,615.939 2,037,360 Net (expenditure)lincome (112,684) (47,228) 1159.912) (165,536) 38,268 (127,268) Funds brought forward 969,903 162,978 1,132,881 1, 135,439 124, 710 1,260, 149 Funds carried forward 857 219 115 750 972 969 969 903 162 978 1 132 881 The Company had no recognised gains or losses other than those shown above for either financial year. The notes on pages 12 to 18 form part of these financial statements.
FRONTIERS BALANCE SHEET At 31 December 2024 Note 2024 2023 FIXED ASSETS Tangible assets 490,499 496,663 CURRENT ASSETS Stock 791 621 Debtors 10 156,622 226,571 Investments 11 172,682 85,000 Cash at bank and in hand 491,523 821,618 698, 735 7.070,927 CREDITORS Amounts falling due within one year 12 339,148 374, 709 NET CURRENT ASSETS 482,470 636.218 NET ASSETS 972 969 1 132 881 FUNDS UnrestTiCted ndS.. General fund 237,963 187,961 Designated funds 13 619,256 781,942 857,219 969, 903 Restricted funds 13 115,750 162,978 Total funds 972 969 1132 881 The financial statements on pages 9 10 18 have been prepared in accordan with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. They were approved by the board of directors on 15 July 2025 and are signed on their behalf by.. K Elmitt Director Frontiers Company number 2585745 10
FRONTIERS CASH FLOW STATEMENT for the year ended 31 December 2024 No 2024 2023 Cash (oufflowylnllow from operatlng a¢llvltl8$ 16 136,034 303,293 Cash flows from investing activities: Investment income 16,542 13,535 Proceeds from disposal of langible fixed assets Purchase of tangible fixed assets 382 {420) (5,420) Cash provid8d by investmont activitie5 16,504 8,115 (Decreaseyin¢rea$e in cash and cash oquivalents in the year 1119,5301 311,408 Cash and cash equivalents at the beginning of the year 783,735 472,327 Cash and cash equivalents at the end of the year 664 205 783 735
FRONTIERS NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 1. AccouKfiNG POLICIES Basls of preparation Frontiers is a charitable company limited by guarantee, incorporated in the United Kingdom and reglstered in England and Wales. Legal and administrative details are set out on page 8. The financial statements are prepared in compliance with the Companies Act 2006, the Charities Act 2011, Financial Reporting Standard 102, and the Charities Stalement of Recommended Practice (FRS102). The financial statements are prepared in pounds sterling rounded to the nearest pound. The principal accounting policies. which have been applied consistently, are described below. Fund accounting Incoming resources for specific purposes declared by donors are held separately as restricted funds. General reseNes are unrestricted funds available for use at the trustees, discretion in furtherance of the Charity's charitsble objedives. Designated funds are set aside by the trustees for specific purposes. Income Income is recognised when entitlement is established, receipt is probable, and its amount can be quantified with reasonable accuracy. Donated goods are included in income at their market value when received. Time donated by volunteers is not recognised in the financial statements. but their significant contribution is discussed in the trustees, report. Individual mèmbers make contributions to the general funds of the Charity out of the gift income they receive at a rate of 50A for UK-based members and projects and 100/0 for members based overseas. Expenditure Grant payments to third parties are accrued once the recipienl has been notrfied of the grant award and where any unfulfilled conditions attaching to Ihe grant are oulside the control of the Charity. Other expenditure is recognised once there is a legal or constructive obligation to make a payment, it is probable that settlement will be required, and the amount of obligation Can be measured reliably. Expenditure is accounted for on an accruals basis and apportioned been the costs of raising funds and charitable activities. Charitable activities expenditure is further analysed between programme development & support, information & education. and management & administration. as described in notes to the accounts. Expenditure apportionment is based on an analysis of time spent. Pensions The Charity operates a defined contribution scheme for the benefit of employees. Contributions are charged to Ihe income and expenditure account in the year they are payable. 12
FRONTIERS NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 1. ACCOUNTING POLICIES (continued) Depreciation Depreciation is provided to write off the cost of tangible fixed assets over their estimated useful economic lives, as follows.. Building services Furniture & other equipment 10 years 3-5 years No depreciation is provided on freehold land and buildings. The trustees have a policy of maintaining the property to a high standard which prolongs its useful life and enhances its residual value and accordingly consider any depreciation to be insignificant and immaterial. Properties are reviewed annually by the trustees for any impairment of value. Investments Financial assets convertible into osh within 3-12 months are defined as short-tenn investh)ents. Debtors Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash at bank and in hand includes accounts held at call with banks and cash in hand. Cash equivalents include monies available within 3 months withoLrt interest penalty. Creditors and provistons Creditors and provisions are recognised when the Charity has a legal or constnjctive financial obligation that can be reliably estimated for which payment is expected to be made. Financial instruments The Charity has financial assets and liabilities only of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently measured using amortised cost on the effective interest rate method. Going concem Al the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
FRONTIERS NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 2. DONATIONS & LEGACIES Unrestricted Restricted Funds Total 2024 Totsl 2023 funds Donations and legacies Contributions from members 125,668 135,567 1.432.086 1,557,754 135.567 1,749,721 131.851 261,235 1,432,086 1,693,321 1,881,572 3. INCOME & ENDOWMENTS FROM CHARITABLE ACTIVITIES These comprise income from training events, book sales, a hospitality house and short-term assignments. The primary aim of these activities is to assist members preparing to go overseas and to raise understanding of the Charity's activilies and opportunities for servi, with charges being made to defray costs. 4. EXPENDITURE ON RAISING FUNDS Most voluntary income is generated by members on an unpaid voluntary basis. Costs to the Charity of generating voluntary income are those incurred in seeking donations and do not indude the costs of disseminating general informab'on about the Charity's activities and opportunilies. 5. CHARITABLE ACTIVITIES Programme development & support expenditure from stricted funds comprises gifts to members and projects, in line with donors, wishes. Such expenditure from unrestncted funds comprises the costs of providing support and training to prospective and Current overseas members. Information & education expendilure comprises the costs of raising awareness of the needs and opportunities for seNice, through the website, video and podcast resources, literature, conferences, and other events. 6. RELATED PARTIES Related parties are the trustees, key management personnel (considered to be the chief executives). and their close family membets. Trustees receive no remuneration for their services. Total compensation paid lo the chief executives was £52,099 (2023. £52,260). No trustee expenses were incurred {2023'. Nil). Donations received from trustees lotalled £1,740 (2023= £3,150), of which £1,010 (2023.. £1,660) was for restricted purposes. 14
FRONTIERS NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 7. EXPENDrruRE Raisin ramme Information Mana funds develo ment &su ort education administration emenl Total 2024 Total 2023 Member support Field projects Office running costs Fronliers International Office Travel Training & conferences Website & media Legal & professional fees Governance costs.. audit fee House running costs Other expenses Depreciation 25,355 1,476,534 147,840 26,318 29.304 14,701 15,011 2,445 5,331 58,321 19,386 1,579,596 147,840 38,833 36,814 18,539 15,527 12,526 7.331 5.940 5,298 3,015 6,202 1, 762,262 133,708 36,101 35.174 21,359 14,582 11,455 2,238 5.640 5,955 3,190 5,696 3,638 5,852 3,025 7.510 740 197 456 231 1,253 2,642 88 8,828 2.000 5.940 5.298 1,500 3,419 731 1,814 784 425 544 31477 1 727 701 40 007 1 877 461 2 037 360 Com risin Reslricled funds Unrestricted fLJnds 2,119 1,446,461 29,358 281,240 1 727 701 27,934 50,342 2,800 1,479,314 37.207 398,147 40 007 1 877 461 1,615,939 421,421 2 037 360 Totals in 2023 25 270 1892 397 37 086 2 037 360 8. EMPLOYEES 2024 2023 Salaries Employer's national insuiance Employer's pension contributions 343.862 21,447 8,037 373 346 384, 148 23,480 8, 654 416 282 Average number of employees Average number of full-time equivalent employees 21 12 No employee received benefits exedIng £60,000 in either year. The Company operates a defined contribution pension scheme. Conlributions of £2,596 (2023.. £2,547) were outstanding at the year end. 15
FRONTIERS NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 9. TANGIBLE FIXED ASSETS Freehold Land & Buildin Furniture & Total COST Al 1 January 2024 Additions Disposals At 31 December 2024 535.525 30,683 420 (1,757) 566,208 420 1,7571 564 871 535 525 DEPRECIATION At 1 January 2024 Provision for year Disposals At 31 December 2024 46.480 2,172 23,065 4,030 1,375 69,545 6,202 1,375 NET BOOK VALUE At 31 December 2024 486 873 490 499 At 31 December 2023 489 045 496 663 10. DEBTORS 2024 2023 Amounls falling due within one year.. Other Frontiers offices Accrued income Gift Aid receivable Prepayments and other deblors 58,677 38,713 35.374 23,858 156 622 110,305 60,835 33,264 22,167 226 571 11. INVESTMENTS 2024 2023 Amounts falling due within one year= Deposits with financial institutions 172.682 172682 85, OOQ 12. CREDITORS 2024 2023 Amounls falling due within one year.. Members and projects Other Frontiers offices Other creditors 286,586 31,409 21,153 339 148 356, 145 530 18,034 374 709 16
FRONTIERS NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 13. MOVEMENT IN FUNDS At 1 Janua 2024 At 31 December 2024 Income Transfers enditure General fund 187.961 285,463 157.383 1392,844) 237,963 Designated funds: Fixed asset fund Generosity fund 746,663 35,279 781,942 969,903 (171,663) 14,280 (157,383) 575,000 44,256 619,256 (5,3031 (5,303 (398,147) Total unrestricted funds 285,463 857,219 Restricted funds: Members, support Projects Total restricted funds 43,707 119,271 162,978 1,340,347 91,739 1,432,086 {1,331,474) (147,840) (1,479,314) 52.580 63,170 115,750 Total funds 1 132 881 1717 549 1877 461 972 969 At l Janua 2023 At 31 December 2023 Income Transfers Ex enditure General fund 99,172 255, 885 219,925 (387,021 187,961 Designated funds.. Fixed asset furpd Ggnérosity fund 976, 939 59,328 1,036,267 (230,276) 10,351 (219,925 746,663 35,279 781,942 969, 903 (34,400) 34,400) (421,421) Total unrestricted funds 1, 135, 439 255, 885 Restricted funds." Members, support Proj8Cts Total restncted funds 106,416 18,294 124, 770 1260 149 1,414, 102 240, 105 1,654,207 1910 092 (1.476,871) (139, 128) (1,615,939) 2 037 360 43,707 119,271 162,978 Total funds 1 132 887 Designated funds have been established for the following purposes: The fixed asset fund represents funds required for fixed asset purchases planned for the coming year to indicate that these resources are not available for other purposes. The generosty fund represents funds set aside to assist projects within the Charivs objects'ves. Restricted funds comprise.. Members, support-. gifts received for specific members. Projects.. gifts for specific Gharitable projects, which are allocated as needs arise. During the year, payment5 were made to 201 {2023 - 193} members and projects. 17
FRONTIERS NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2024 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS General Desi naled Restri Fund Funds Funds Total Fund balances al 31 December 2024 were represented by.. Fixed assets Current assets Current liabilities 490,499 128,757 490,499 821,618 (339.148) 577,111 (339,148) 115,750 Total net assets 237 963 619256 115 750 972 969 Gene Fund l Desi nated Rest17Gted Funds Funds Total Fund balances at 31 December 2023 We represented by.. Fixed assets Cuffent assets Cuffent liabilities 496,663 285,279 496,663 1,010,927 (374, 709) 562,670 (374, 709) 162,978 Total net assets 187 961 781942 162 978 1 132 881 15. SHARE CAPITAL The Company is limited by guarantee and does not have an issued share ¢apital. Each member of the Company undertakes to contribute to the assets of the Company (should it be wound up during membership or within one year after ceasing to be a member) for payment of debts and liabilities of the Company contracted before ceasing to be a member. The contribution is limited to a sum not exceeding £1. 16. CASH FLOWS RECONCILATION 2024 2023 Net (expenditure) (159.912) (127,268) Adjustments for.. Depreciation Investment income (Increase)Idecrease in stocks Decrease in deblors (Decrease) in creditors 6,202 (16,542) {170} 69,949 (35,561) 5,696 (13,535) 224 466, 141 (27, 965) Cash {oufflow)linflow from operating a1VIlieS 136 034 303 293 18
Independent auditor's report to the members of Frontiers Opinion We have audiled the financial statements of Frontiers {the 'charity'} for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, induding 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, including Financial Reporting Standard 102 The Financi81 Reporting Standard applicable in the UK and Republic ollreland {United Kingdom Generally Accepted Accounting Practice). In our opinion the financial slatements.. give a true and tsir view of the state of the charitable company's affairs as al 31 December 2024 and of its incoming resources and application of resources 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) IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audilorfs 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 accoidance with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appfopriate. Based on the work we have performed. we have not identified any malerial uncertainties relating to events or conditions that, individually or collectively, rnay cast significant doubl on the Charity's ability lo continue as a going concem for a period of al least 12 morsths from when the financial statements are authorised for issue. Ouf responsibilities and the responsibilities of the truslees with respect to going concern are described in the relevant sections of this report. Other infomiation The other information comprises the information induded in the annual report, including the trustees, report, otherthan the financial statements and our auditor's report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent othewse explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial slalemenls or our knowledge oblained in the course of the audil, or otherwise appears to be materially misstated. If we identify such malerial inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude thal there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 19
Oplnions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the trustees, report. which indudes the directors, report prepared for the purposes of company law, for the financial year for which the finanoal statements are prepared is consistent with the financial statements. and the directors, report included within the Irustees, report has been prepared in aOrdanCe wilh applicable legal requirements. Matters on which we are requlred to report by exception In the light of the knowledge and understandin9 of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included with the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate and proper 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 disdosures of trustees, remunerab'on specified by law are not made., or we have not received all Ihe information and explanations we require for our audit., or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemptions in preparing th8 trustees, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the trustees. responsibilities ststement. the trustees, (who are also the directors of the charitable company for the purposes of company lawl 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 neSSary 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 charty's ability lo 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 company or to cease operations. or have no realistic alternative but to do so. Auditoes responsibilitles for the audlt of the financlal statements Our objectives are lo obtain reasonable assurance about whether the financial slatements as a whole are free from material misstatement, whether due to fraud or error, and lo issije an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance wlh ISAS (UK) will always detect a material misslatementwhen it exists. Misststemenls 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 Ihe basis of these financial statements. The extent to which our procedures are capable of detecting irregularittes, including fraud is detailed below.. 20
Based on our understanding of the charity, we identified that the principal risks of non-compliance with laws and regulations related to employment and financial reporting legislation and we considered the extent lo which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Charits'es Act 2011. We assessed the susceptibility of the company's financial ststements to material misstatemenl, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team. We determined that the principal risks were related to payments to third parties and management override of controls. In response to the risks identified we designed prOdureS which included, but were not limrted lo.. verifying payments lo third parties on a sample basis identifying and tesling iournal entries reviewing Trustees, meeb'ng minutes evaluating the charity's intemal controls There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely rt is that we would become aware of non- compliance. Material misstatements that arise due to fraud can be harder to delect than those that arise from error as they may involve deliberate concealmenl or collusion. A further description of our responsibilities for the audil of the financtal statements is located on the Financial Reporting Council's website at. http'.II.frc.Org.uk1audl1O[sreSponSIbIIil1Ès. This description forms part of our auditor's report. Use of our report This report is made solely to Ihe charrtable company's members, as a body. in accordance wth Chapter 3 of Part 16 of the Companies Act 2006 and fegulations made under that Act. Our audit work has been undertaken so that we might stale to Ihe charitable company's members those matters we are required to slate to them in an auditors, report and for no other purpose. To the fullest exlenl permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed. 00l) Richard Haffenden MA{Cantab} FCA (Senior Statutory Auditor) for and on behalf of Xoinadin Audit Limited Statutory Auditor Chartered Accountants 5 Robin Hood Lane Sutton Surrey SM1 2SW Dated.. Is S£Pxl&S ZOZ 21