REGISTERED CHARITY NUMBER: 1015793
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR CLC INTERNATIONAL (UK)
Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BRI 3RA
CLC INTERNATIONAL (UK)
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2025
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|Page|
|Reference and|administrative|details|l|
|Report of the|trustees|2|to|4|
|Independent examiner's|report|5|
|Statement|of financial|activities|6|
|Balance|sheet|7|
|Notes|to the|financial|statements|8|to|16|
|Detailed|statement|of financial|activities|17|to|18|
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CLC INTERNATIONAL (UK)
REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31 March 2025
TRUSTEES J Watkins (Secretary) Mrs E Dowey W Owen (Chair) Mrs L Owen P Dalton (resigned 21.2.25) H Lessous S L Banner N Wardrope Trustee (appointed 19.2.25)
PRINCIPAL ADDRESS Unit 5 Glendale Avenue Sandycroft Deeside CH5 2QP
REGISTERED CHARITY NUMBER 1015793
| INDEPENDENTEXAMINER | Berringers LLP |
|---|---|
| Chartered Accountants | |
| Lygon House | |
| 50 London Road | |
| Bromley | |
| Kent | |
| BRI3RA |
Page |
CLC INTERNATIONAL (UK)
REPORT OF THE TRUSTEES for the year ended 31 March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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 Ircland (FRS 102) (effective | January 2019).
OBJECTIVES AND ACTIVITIES
Charitable Activities
Jesus said: "Come to me. all you who are weary and burdened, and | will give you rest. Take my yoke upon you and learn lrom me, for | am gentle and humble in heart. and you will find rest for your souls. For my yoke is easy and my burden _ is light.” (Matthew 11).
Simply put. making the good news ofJesus known is why we exist at CLC International (UK). We know that when people receive God's word into their hearts, their lives are changed forever.
The Trust primarily supports the activities of Kingsway CLC Trust, and the wider community of CLC worldwide.
We are pleased to see the continuing effective and vital role Kingsway CLC Trust are fulfilling in the wholesale distribution of God's word in the UK. and we remain committed to supporting this work, both financially and prayerfully.
We are also thankful for the important and varied work of CLC in many countries across the world, and we are thankful lor their fellowship. and encouraged by the amazing way God is working through their faithful service.
We want to be good stewards of the resources entrusted to us, and we continue to seek ways to bless people through the distribution of God's word, in the belief that those who read and trust His word will "be thoroughly equipped for every good work." (2 Timothy 3:16).
"Open my lips, Lord, and my mouth will declare your praise." (Psalm 51).
Public benefit
The trustees have had regard to Charity Commission guidance on public benefit and consider that the objectives. aims and achievements of the charity described in the report enable it to meet its duty to the Charity Commission as per section 17 of the Charities Act 2011. and to the benefit of the public.
Financial Support to CLC Members
Where reserves are available in the Mission Fund, CLC provides financial support to some of its members. CLC is not under a legal obligation to make such payments, and such financial support that is received is not remuneration for voluntary services. The policy for dividing the Mission Fund amongst members is determined by the trustees.
Page 2
CLC INTERNATIONAL (UK)
REPORT OF THE TRUSTEES for the year ended 31 March 2025
FINANCIAL REVIEW
Financial position
Total resources expended include accommodation costs relating to properties owned by CLC and made available to volunteers to enable them to meet the obligations under the constitution of CLC. Accommodation costs include rent. rates and light and heat and the amounts paid by CLC for the members are disclosed separately in the financial statements. Some members also live in properties owned by CLC and no rents are charged. The accommodation arrangement is by permission of the trustees.
The financial accounts disclose that the total income for the year ended 31 March 2025 totalled £130,119 (2024: £118.308). an increase of £11.811. Afier taking into account direct and overhead trading costs, as well as grants and market movement of properties. the charity made a net deficit of £8.392 (2023: net surplus of£26,010).
‘The trustees have revalued the properties based on current market conditions and the current state of properties to fair value at the balance sheet date. The last professional valuation of the properties was carried out in 2014. However, management have used online resources and informal talks with local agents to revalue the portfolio of properties and consider this to be a sufficiently accurate method for the purposes of valuation.
The unrestricted fund consists of the general fund and the revaluation fund and totalled £4,135,719 at the year end. an increase of £126,890. £135,282 of the surplus in the unrestricted fund was as a result of the re-classification of the mission fund. The trustees have concluded that all remaining funds are now unrestricted..
The level of reserves is continually under review to ensure that adequate reserves are always available. The reserves at 31 March 2025 stood at £4,135.719, with freely available reserves deemed to stand at £1,165,958. This is to ensure that the Charity can meet its objectives, and the trustees are satisfied that on a fund for fund basis, CLC have sufficient assets to fulfil the obligations of the Charity.
The revaluation fund totalling £1,837,785 at 31 March 2025 (2024: £1,901,972) can only be realised upon the sale of properties to which it relates.
Going concern
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
CLC International (UK) was founded in 1941 by way of a Trust Deed as an international and inter-denominational Charity.
Recruitment and appointment of new trustees
There can be up to nine CLC trustees of which at least two must not be CLC members. Appointments are for a term of five years. New trustees are appointed by the existing trustees at a special meeting which may be called by the chair. or any two trustees, at any time on giving at least fourteen days notice.
Organisational structure
All senior appointments are made by the trustees. Day to day management is under the control of the Leadership Team but clearly defined "major decisions" are the province of the trustees alone.
Risk Assessment
The risks which might result in harm or injury to personnel or create situations that might threaten the day to day effective continuation of the CLC ministry are subject to review by the Leadership Team on behalf of the trustees. This is an on-going exercise with regular assessments undertaken to ensure risks are minimised.
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CLC INTERNATIONAL (UK)
REPORT OF THE TRUSTEES for the year ended 31 March 2025
Approved by order of the board of trustees on (Lan SEPTELOBER 200k signed on its behalf by:
W Owen (Chair) - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CLC INTERNATIONAL (Uk)
Independent examiner's report to the trustees of CLC International (UK)
| report to the charity trustees on my examination of the accounts of CLC International (UK) (the Trust) for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements ofthe Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination | have followed all applicable Directions given by the Charity Commission under Section 145(5}(b) of the Act.
Independent examiner's statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
l. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records: or
- the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Paul Allan BSocSc FCA (Senior Statutory Auditor)
The Institute of Chartered Accountants in England and Wales
Berringers LLP
Chartered Accountants Lygon House 50 London Road Bromley Kent BRI 3RA
1D:(
Page 5
CLC INTERNATIONAL (UK)
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2025
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|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations and|legacies|33,812|-|33,812|37.925|
|Investment|income|2|39,926|-|39,926|29.162|
|Other income|3|56,381|-|56,381|51.221|
|Total|130,119|-|130,119|118.308|
|EXPENDITURE ON|
|Charitable|activities|
|Support|costs|123,829|-|123,829|149.816|
|Distributions|to|members|14,682|-|14,682|48.482|
|Total|138,511|-|138,511|198.298|
|NET|INCOME|EXPENDITURE)|(8,392)|-|(8,392)|(79,990|)|
|Transfers|between|funds|11|135,282|(135,282 )|-|-|
|Other|recognised|gains/(losses)|
|Gains|on|revaluation|of fixed|assets|-|-|-|106.000|
|Net movement|in|funds|126,890|(135,282 )|(8,392)|26.010|
|RECONCILIATION|OF|FUNDS|
|Total|funds brought|forward|4,008,829|135,282|4,144,111|4.118.101|
|TOTAL FUNDS CARRIED FORWARD|4,135,719|-|4,135,719|4.144.011|
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The notes form part ofthese financial statements
Page 6
CLC INTERNATIONAL (UK)
BALANCE SHEET 31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 6 | 2,969,761 | - | 2,969,761 | 3.089.449 |
| CURRENT ASSETS | |||||
| Debtors | 7 | 714,640 | - | 714,640 | 908.980 |
| Cash at bank | 459,925 | - | 459,925 | 165.891 | |
| 1,174,565 | - | 1,174,565 | 1.074.871 | ||
| CREDITORS | |||||
| Amounts fallingdue within oneyear | 8 | (8,607) | - | (8,607) | (14.556) |
| NETCURRENTASSETS | 1,165,958 | - | 1,165,958 | 1.060.315 | |
| TOTAL ASSETS LESSCURRENT | |||||
| LIABILITIES | 4,135,719 | - | 4,135,719 | 4.149.764 | |
| CREDITORS | |||||
| Amounts falling due after more than oneyear | 9 | - | - | - | (5.653 ) |
| NETASSETS | 4,135,719 | - | 4,135,719 | 4.144101 | |
| FUNDS | I | ||||
| Unrestricted funds: | |||||
| General fund | 2,297,844 | 2.106.857 | |||
| Revaluation fund | 1,837,875 | 1.901.972 | |||
| 4,135,719 | 4.008.829 | ||||
| Restricted funds | - | 135.282 | |||
| TOTALFUNDS | 4,135,719 | 4.144.111 |
The financial statements were approved by the Board of Trustees and authorised for issue on (1m detrem Gen 2092S and were signed on its behalf by: W Owen (Chair) - Trustee
The notes form part of these financial statements
Page 7
CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2025
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations. legacies and gifts are recognised when received or when CLC becomes legally entitled to them having been notified in writing of both the amount and settlement date. Donations are allocated specifically at the request of the donor. or to the general fund for volunteers. In the event that a donation is subject to conditions that require a level of performance betore the charity is entitled to the funds, the income is deferred and not recognised until either of those conditions are fully met. or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. For legacies. entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted. the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part. is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to makea distribution.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
Rental income is generated from properties previously held for housing volunteers in areas of the country that the charity no longer has any operations. Currently the charity does not consider the properties to be investment properties. but this may change in future years.
Government Grants
Government grants are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis, exclusive of any VAT.
Expenditure which is directly attributable to specific activities has been included in these cost categories. Costs have been allocated to specific departments on a usage basis, as a result no further allocation of costs is required. There are no costs to be allocated to the cost of generating voluntary income.
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continued...
I. ACCOUNTING POLICIES - continued
CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 31 March 2025
Expenditure
Distributions to volunteers and centres are recognised on commitment to payment and are included in charitable expenditure. These costs have been included in charitable expenditure.
Governance costs includes all expenditure not directly related to the charitable activity. These costs include audit fees, conference. meetings and trustees costs and the allocation of establishment and office costs relating to the leadership. administration and finance offices.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Fund accounting
Unrestricted funds comprise ofa general fund which can be used in accordance with the charitable objectives at the discretion of the trustees, and a revaluation fund which is realised and transferred to the general fund upon the sale of the revalued property or properties to which the fund relates.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. The mission fund is a restricted fund to provide financial support to CLC members that are in need.
Allocation and apportionment of costs
In accordance with SORP FRS 102. governance costs have been included within support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs relating to statutory audit and legal fees together with the apportionment of overhead and support costs.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful lite.
Long leasehold - over period of lease Improvements to property - at varying rates on cost Fixtures and fittings - at varying rates on cost
The properties are included in the financial statements at fair value as at the balance sheet date. No depreciation is provided in respect of the freehold properties. This policy of non-depreciation, is, in the opinion of the trustees. necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards as the properties are included in the financial statements at appropriate value. The properties will maintain a long useful economic life and high residual value through the policy of regular maintenance and repair (charges for which are recognised in the Statement of Financial Activities) such that the assets are kept to the previously assessed levels.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds were only 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 ofeach fund is included in the notes to the financial statements.
The trustees carried out a review of the mission fund at the start of the year and concluded that all remaining funds held were unrestricted and were transferred over accordingly.
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continued...
CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 31 March 2025
I. ACCOUNTING POLICIES- continued
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charges as incurred.
Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on property sales are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year.
Charitable activities
Costs of charitable activities include costs in connection with the promotion of Bibles and Christian literature. governance costs and support costs.
Trade and other debtors
Trade and other debtors are recognised in the accounts are fair value on the date of the transaction. Impairments are recognised in the Statement of Financial Activities in the reporting period.
Trade and other creditors
Trade and other creditors are recognised in the accounts are fair value on the date of the transaction. Impairments are recognised in the Statement of Financial Activities in the reporting period.
| INVESTMENT INCOME | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Deposit account interest | 2,006 | 4.057 |
| Interest duc on loan | 37,920 | 25.105 |
| 39,926 | 29.162 | |
| OTHER INCOME | ||
| 2025 | 2024 | |
| £ | £ | |
| Profit(loss) on disposal offixed assets | 64,097 | - |
| Rental income | 69,779 | 51.22] |
| 133,876 | 51.221 |
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continued...
CLC INTERNATIONAL (Uk)
NOTES TO THE FINANCIAL STATEMENTS- continued
for the year ended 31 March 2025
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees’ expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
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|---|---|---|---|---|---|---|---|
|5.|COMPARATIVES|FOR THE|STATEMENT OF|FINANCIAL ACTIVITIES|
|Unrestricted|Restricted|‘Total|
|funds|funds|funds|
|£|£|£|
|INCOME AND|ENDOWMENTS|FROM|
|Donations|and|legacies|310|37,615|37.925|
|Investment|income|29,162|-|29.162|
|Other income|51,221|-|51.221|
|Total|80,693|37,615|118.308|
|EXPENDITURE|ON|
|Charitable|activities|
|Support|costs|149,816|-|149.816|
|Distributions|to|members|-|48,482|48.482|
|Total|149,816|48,482|198.298|
|NET|INCOME/(EXPENDITURE)|(69,123|)|(10,867|)|(79,990|)|
|Other|recognised|gains/(losses)|
|Gains|on|revaluation|of fixed|assets|106,000|-|106.000|
|Net|movement|in|funds|36,877|(10,867|)|26.010|
|RECONCILIATION|OF FUNDS|
|Total|funds|brought|forward|3,971,952|146,149|4.118.101|
|TOTAL|FUNDS CARRIED|FORWARD|4,008,829|135,282|4144111|
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS- continued
for the year ended 31 March 2025
6. TANGIBLE FIXED ASSETS
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Improvements|Fixtures|
|Frechold|Long|to|and|
|property|leasehold|property|fittings|Totals|
|£|£|£|£|£|
|COST OR VALUATION|
|Atl|April|2024|3,012,538|101,554|6,960|13,201|3,134,253|
|Disposals|(108,000)|-|-|-|(108,000|)|
|At31|March|2025|2,904,538|101,554|6,960|13,201|3,026,253|
|DEPRECIATION|.|
|At|1|April|2024|-|39,717|5,087|-|44,804|
|Charge|for year|-|8,673|375|2,640|11,688|
|At 31|March 2025|-|48,390|5,462|2,640|56,492|
|NET|BOOK VALUE|
|At 31|March 2025|2,904,538|53,164|1,498|10,561|2,969,761|
|At|31|March|2024|3.012.538|61.837|1,873|13,201|3.089.449|
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The historic cost of the freehold properties held at 31st March 2025 is £958,125 (2024: £1,002,028). The properties were last revalued professionally in 2014 by Howell Brooks, Chartered Surveyors.The value of the propertics is regularly monitored by the trustees.
- DEBTORS
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|||||||
|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Amounts|falling|due|within|one|year:|
|Other debtors and|prepayments|164,640|154.356|
|VAT|-|4.624|
|164,640|158.980|
|Amounts|falling due|after more|than|one|year:|
|Other debtors|550,000|750.000|
|Aggregate amounts|714,640|908.980|
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CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 31 March 2025
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | ||||||
| £ | £ | ||||||
| Bank loansand overdrafts (see note | 10) | 5,508 | 10.198 | ||||
| Trade creditors | 2,261 | 1.208 | |||||
| Sundry creditors and accruals | 838 | 3.150 | |||||
| 8,607 | 14.556 | ||||||
| 9. | CREDITORS: AMOUNTS FALLING DUEAFTERMORETHAN ONE | YEAR | |||||
| 2025 | 2024 | ||||||
| £ | £ | ||||||
| Bank loans(see note 10) | - | 3.653 | |||||
| 10. | LOANS | ||||||
| An analysisofthematurity of loans | isgiven below: | ||||||
| 2025 | 2024 | ||||||
| £ | £ | ||||||
| Amounts fallingduewithin one yearon demand: | |||||||
| Bank loans | 5,508 | 10.198 | |||||
| Amounts falling between oneand two years: | |||||||
| Bank loans - 1-2 years | - | 5.653 | |||||
| il. | MOVEMENT IN FUNDS | ||||||
| Net | Transfers | ||||||
| movement | between | Al | |||||
| At 1.4.24 | in funds | funds | 31.3.25 | ||||
| £ | £ | £ | £ | ||||
| Unrestricted funds | |||||||
| General fund | 2,106,857 | (8,392) | 199,379 | 2,297,844 | |||
| Revaluation fund | 1,901,972 | - | (64,097) | 1,837,875 | |||
| 4,008,829 | (8,392) | 135,282 | 4,135,719 | ||||
| Restricted funds | |||||||
| Mission Fund | 135,282 | - | (135,282 | ) | - | ||
| TOTALFUNDS | 4,144,111 | (8,392) | - | 4,135,719 |
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continued...
CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 31 March 2025
Ul. MOVEMENT IN FUNDS - continued
Net movement in funds. included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 130,119 | (138,511) | (8,392) |
| TOTAL FUNDS | 130,119 | (138,511) | (8,392) |
| Comparatives formovement in funds | |||
| Net | |||
| movement | AL | ||
| At 1.4.23 | in funds | 31.3.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 2,175,980 | (69,123) | 2.106.857 |
| Revaluation fund | 1,795,972 | 106,000 | 1.901.972 |
| 3,971,952 | 36,877 | 4.008.829 | |
| Restricted funds | |||
| Mission Fund | 146,149 | (10,867 ) | 135.282 |
| TOTALFUNDS | 4,118,101 | 26,010 | 4.144.101 |
Comparative net movement in funds, included in the above are as follows:
| Incoming resources |
Resources expended |
Gainsand losses |
Movement in funds |
|
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 80,693 | (149,816) | - | (69.123 ) |
| Revaluation fund | - | - | 106,000 | 106.000 |
| 80,693 | (149.816) | 106,000 | 36.877 | |
| Restricted funds | ||||
| Mission Fund | 37.615 | (48.482 ) | - | (10.867 ) |
| TOTALFUNDS | 118,308 | (198,298) | 106,000 | 26.010 |
The unrestricted funds of the Charity include the following designated funds:
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continued...
CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 31 March 2025
I, MOVEMENT IN FUNDS - continued
| Fixed Asset Revaluation Fund | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Net funds at 1 April 2024 | 1,901,972 | 1.795.972 |
| Revaluation during year | - | 106.000 |
| Realised losson sale ofproperties | (64,097) | - |
| Netfundsat31March2025 | 1,837,875 | 1.901.972 |
The restricted fund related to the Mission Fund, which provides financial support to CLC members that are in need.
- RELATED PARTY DISCLOSURES
Kingsway CLC Trust is a related party due to mutual trustees. By an Asset Transfer Agreement on | August 2019. CLC transferred assets totalling £3.179.349 to Kingsway CLC Trust, a Charity Company limited by guarantee. Company No 1093879 and Charity Number 265612. During this process CLC transferred its wholesale and ecommerce divisions as well as its warehouse and offices in Sandycroft, warehouse stock, trade debtors and creditors. 32 CLC employees were transferred to Kingsway under the TUPE arrangement, with the remaining employees transferred during the year to 31 March 2022. During the year £18,000 (2024: £15,000) was charged to CLC for management charges and £nil (2024: £nil) was purchased from them. £3,750 was paid as a donation to Kingsway CLC Trust during the year to 31 March 2025 (2024: £100,000).
As at 31 March 2025 £705.795 (2024: £895.034) in total was owed by Kingsway CLC Trust as a result of loans made during the year. Included in amounts due within one year, is £150,000 relating to repayments due to be made on loans provided by CLC. repayable by 31 March 2026. Included in short term loans is, a second amount of£5.795.
Included in amounts due afler more than one year is a long term loan to Kingsway CLC Trust of £550.000 (2024: £750,000). This loan is due to be repaid after twelve months and has interest of £37,920 (2024: £25,105) accruing at the Bank of England rate.
- GRANTS PAID TO INSTITUTIONS
During the year. grants were made to the following institutions:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Kingsway CLC Trust | 3,750 | 100.000 |
| CLCInternationalOffice | 10,000 | - |
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continued...
CLC INTERNATIONAL (UK)
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2025
14. RECLASSIFICATION OF FUNDS
The trustees carried out a review of the mission fund at the start of the year and concluded that all remaining funds held were unrestricted and were transferred over accordingly.
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