2022-01-31-accounts

Charity registration number 1058306

CLC INTERNATIONAL OFFICE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

CLC INTERNATIONAL OFFICE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J Chamberlain Mr G Ince Mr J Raby Mr J Watkins Mr H Alvarez (Appointed 18 August 2022) Mrs P Nemansky (Appointed 18 August 2022) International director Mr G Chamberlin Charity number 1058306 Principal address 118 Prospect Road Sheffield S17 4JE Independent examiner Grant Wade BA ACA Wells Richardson Cannon House Rutland Road Sheffield South Yorkshire S3 8DP Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Univest Bank and Trust Co. 10W Broad Street PO Box 64197 Souderton PA 18964 USA

CLC INTERNATIONAL OFFICE

CONTENTS

	Page
Trustees' report	1 - 5
Independent examiner's report	6
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	9 - 25

CLC INTERNATIONAL OFFICE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 JANUARY 2022

The trustees present their annual report and financial statements for the year ended 31 January 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Declaration of Trust dated 8 August 1996, the Charities Act 2011 and "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

The charity's objects are: - The advancement of the Evangelical Tenets of the Christian religion either in the United Kingdom overseas especially through Christian literature.

• The advancement for the public benefit of religious or other education.

CLC is a missionary fellowship operating in 43 countries around the world. Each entity has its own registration in its country of operation, according to national legislation. There is no legal responsibility or ownership - apart from Romania, Bulgaria, Kyrgyzstan and France - and the individual CLC organizations work together under the guidelines of the voluntary code of the CLC International Constitution and the Guiding Principles.

The role of the CLC International Office is to facilitate CLC ministries, to obtain and provide funding for projects, to create and manage websites and other digital projects, to provide supervision and training services and to serve as a common point of communication and reference for CLC worldwide.

The function of the International Office is carried out by the Regional Directors of five regions - North America & Caribbean, Latin America, Africa, Europe and Asia - and a Digital Director, working in conjunction with the International Director. This group is given authority by the four-yearly International Council to interpret and apply the CLC International Constitution. While the International and Regional Directors do not have executive authority over the national CLC teams, their responsibility in fulfilling the role of the International Office is to monitor and mentor; to hold accountable leaders to their objectives; to provide leadership training; to give objective assessment of the health of the organisation; to provide oversight and accountability for grants made; and to be a service provider for websites and training.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The trustees are also aware of the Charity Commission's guidance on public benefit in The Advancement of Religion for the Public Benefit and have had regard to it in their administration of the Charity.

The Trustees record their grateful thanks to the volunteers who have helped in maintaining the office, visited overseas centres and offered their advice and assistance throughout the year. Their contribution has been invaluable.

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CLC INTERNATIONAL OFFICE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

Achievements and performance

The year ended 31 January 2022 was still somewhat overshadowed by the worldwide Covid 19 pandemic. However, by the end of the fiscal year global sales returned to pre-pandemic level. Total global sales were 19% above the previous fiscal year and 1.60% above fiscal year ending 31 January 2019. Internet sales continued to increase by another 8.80% compared to the previous fiscal year, representing almost 18% of total global sales. Additionally, many countries had a notable increase of sales on third-party websites such as Amazon, Ebay, Shopee and Mercadolibre. Some countries saw a significant increase in sales by engaging customers on social media platforms such as WhatsApp, Facebook and Instagram. We continued to have frequent and comprehensive sales reporting throughout the year.

International Director and Regional Directors

The International Director, Gerardo Scalante, resigned from his role in September 2021. In October 2021, Gary Chamberlin was appointed as the new International Director. He will serve until the CLC International Council meets in 2024. In November 2021, the Regional Director of Latin America, Humberto Urrutia, resigned in order to concentrate on his role as the Director of Uruguay. Subsequent to the year-end, David Pabon, National Director of Colombia, was approved as the new Regional Director. The Regional Directors continue to meet almost weekly. These weekly meetings helped to unite the body of the Regional Directors in a period of transition.

Work on the International Office Structural Review began to be actively pursued under the direction of Gary Chamberlin. The Regional Director group will develop this further in 2022. Additionally, before year-end, the Regional Director group and the Chair held frequent meetings to develop a Protocol for the International Office in order to better define the relationships between the Council, Trustees, ID, RDs and IO Staff. Subsequent to the year-end, the International Council approved a significant part of the IO Protocol.

Because of continuing travel restrictions related to the Covid 19 pandemic, the ID and RDs did not travel throughout the entire year. Instead, they continued to concentrate on meeting each other and giving oversight to the various CLC teams through video meetings, instant messaging and emails.

Global meetings

The use of Zoom to enable global meetings has proved to be effective and appreciated. It is an excellent way of bringing the worldwide CLC Fellowship together. Three meetings to promote prayer for the CLC Fellowship were organised in February, June and October. Participation has grown with approximately 120 CLC staff taking part from about 40 countries.

The International Council held meetings on Zoom in April, September and October 2021 to consider various issues and to elect the new International Director.

Mutual Support

The International Office facilitated the support of certain CLC ministries to strengthen those that were particularly hard hit by the pandemic. Support was especially focused on funding salaries and helping a few countries purchase badly needed stock. Dominica, Kyrgyzstan and Myanmar were but three countries that benefited in this way. An SOS Fund was initiated in May to provide emergency grants where needed. Though many CLC countries began to grow significantly, a few others, such as the Caribbean islands, continued to face great difficulties throughout the year.

Project Funding

A special gift of 10,000 GBP was donated for website support for several CLC countries needing help. A donation of 10,000 GBP for global publishing was received, allowing us to help several countries on their publishing projects.

A donation of 20,000 GBP was received from the Tyndale House Foundation for the purchase of a van for CLC Peru, permitting them to do book tables at churches and conferences throughout the country.

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CLC INTERNATIONAL OFFICE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

Bible Projects

During the year a project to print 10,000 Bibles for Francophone West Africa developed. French Bibles are particularly expensive in Africa. CLC France and Liz Patten, the Africa Director, played key roles in seeing this happen. By the year-end the first copies were shipped to the CLC ministries in Benin, Burkina Faso and Ivory Coast.

We received 6,500 free Chinese Bibles from a Swiss organization called Bibles par Internet. The Bibles were then sent to our sister movements in Belarus, Chile, Colombia, Ecuador, Panama, South Korea, and the UK for free distribution among Chinese communities there.

CLC Russia and CLC Belarus were able to print 6,000 Bibles in the Russian language because of donations from various sources. Some of the Bibles were shared with CLC Kyrgyzstan.

Mission Statement Updated

The CLC International Mission Statement was slightly modified during the April 2021 International Council on Zoom. The new Mission Statement is as follows: The purpose of CLC is to honour God by making Christian literature and resources available to all nations, to help people come to faith and maturity in the Lord Jesus Christ.

Financial review

Income

Total income for the year was £472k (2021: £404k). Funding for projects amounted to £179k (2021: £227k) and was principally from CLC organisations but also from trusts and individuals.

Non-project income of £293k (2021: £177k) included £135k (2021: £149k) contributions from other CLC organisations, £32k (2021: £27k) from website charges to those organisations, £138k (2021: £Nil) from sale of charity's offices, £(13k) (2021: £Nil) comprising foreign exchanges losses and £1k (2021: £1k) from other sources (mainly book sales, rents and donations).

Expenditure

Total expenditure for the year was £399k (2021: £385k). Expenditure on projects amounted to £222k (2021: £207k). Non-project expenditure of £177k (2021: 178k) included £106k (2021: £102k) on support for staff and volunteers, £Nil (2021: £14k) on their travel and accommodation, £43k (2021: £36k) on website and IT costs, £14k (2021: £13k) on contributions not paid and £14k (2021: £13k) on other costs.

Reserves Policy

Free reserves at 31 January 2022 are £381k (2021: £162k). It is the Trustees' opinion that unrestricted funds equal to at least six months' normal expenditure should be maintained, which amounts to approximately £116k (2021: £100k). In this context, the trustees consider normal expenditure should exclude costs of supporting projects, transfers, project funds, depreciation, bad debts and other non-committed expenditure.

Summary

Due to the timing of grant making expenditure, the net assets have increased and the Fund continues to meet the Trustees' objective of having six months' expenditure in hand. The Trustees consider that the reserves are sufficient to cover all foreseeable Project Fund Liabilities.

Covid 19

This year, the world has continued to experience the impact of the Covid19 pandemic. The CLC Fellowship has experienced its effect in all of the countries in which we serve. Some countries have been deeply impacted, particularly where there is a strong dependence on physical bookshops and those bookshops have been closed. At different times and for varying periods a total of 130 of our 146 bookshops worldwide were required to close because of the lockdown measures.

On the other side, the pandemic has created opportunities for us to refocus our distribution with an emphasis on online channels.

The International Office income has been negatively impacted by the fall in sales and the trustees have been taking steps to ensure its continued viability of the work.

Funds carried forward at 31 January 2022 are £567k (2021: £494k).

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CLC INTERNATIONAL OFFICE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

Plans for future periods

A significant step for the International Office was to be the sale of the property in Abbeydale Road. The decision to sell was made in the financial year to generate funds to ensure continued financial viability but the property had become an unnecessary burden. The International Office only needed to occupy a small proportion of the property and did not have the resources to manage a substantial let. The sale was completed in August 2021. The new International Director has a number of key priorities. These include a focus on making strategic capital investments, growing our global publishing and internet presence and focusing on future leadership as some Regional Directors will not be available for election again in 2024, the next physical CLC Council. This will necessitate a strategic review to ensure a sustainable future for the International Office.

Structure, governance and management

The charity is governed by a Declaration of Trust dated 8 August 1996 and is a registered charity, number 1058306.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr J Chamberlain

Mrs E Lugg (Resigned 28 March 2022) Mr G Ince Mr J Raby Mr J Watkins Miss R Williams (Resigned 12 July 2022) Mr H Alvarez (Appointed 18 August 2022) Mrs P Nemansky (Appointed 18 August 2022)

CLC International Office Trustees are appointed on the recommendation of the existing Board and the International Director. New trustees undergo orientation to brief them on their legal obligations under charity law, the content of the Declaration of Trust, the decision making process and recent financial performance of the Charity.

Trustee meetings are held at least four times a year with additional meetings as necessary. The International Director is appointed on a four-year basis on the recommendation of the International Council. The Board of Trustees, with the co-operation of the CLC International Office Team, led by the International Director, are primarily responsible for safeguarding and directing the distribution of monies received into the International Office Fund to progress the Objects as set out in the 1996 Declaration of Trust.

The Trustees recognise their responsibility to assist CLCIO in fulfilling the aims of the International CLC fellowship respecting the guidelines set out in the CLC International Constitution 2016 edition.

The Trustees will always seek to ensure that the Charity and its representatives function within the legal and regulatory framework as laid down by the Charity Commission of England and Wales, continually striving for best management practice.

The Trustees will work to maintain the integrity of the CLC IO Fund by maintaining sound financial practices and overall efficient administration of the Charity and resources.

The Trustees will ensure that monies granted are used for the purpose for which they are given and in accordance with the objects set out above.

The Trustees will maintain absolute confidentiality about all sensitive information.

The Trustees will regularly seek to assess the level of risk to the reputation, operation and achievement of the Charity and personal safety to members of the Charity and decide on the appropriate action to take in order to prevent damaging eventualities occurring and to mitigate the effect if they do.

The Trustees recognise that they must always act in the best interests of the Charity and as a body will take appropriate action to prevent any Board member acting under conflicting interest. Decisions regarding the Trust Fund will be taken by the Trustees acting together and not by any one individually. The Trustees may delegate decisions on day to day matters as necessary but will establish proper reporting procedures and clear lines of accountability.

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CLC INTERNATIONAL OFFICE TRUSTEW REPORT (CONTINUED) FOR THE YEAR &dDED 31 JAIIUARY2022 MrJR8ty

CLC INTERNATIONAL OFFICE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CLC INTERNATIONAL OFFICE I report to ts trustee8 on my examlnatton of the financtal 8tatements of CLC Intemauonal Office (the rtharftyl for the year ended 31 January 2022. Responslbllltles and bas1$ of rgport As the trustees of tr8 charlty you are responsible the preparation of the financlal statements In a¢eordan¢e wlth the reqU1￿ments of the ChadtiesAct 2011 Ilhe 2011 Act). I report in respect of my examination of the ¢harity's finandal statements carrigd out under ¥ectkn 145 of the 2011 Act. In ¢arylng out my examlnatfon I have follthved all the appli¢able Dlrectiorn given ty tho Charlty Comml88lon urKlor sedon 145{5){bl of the 2011 Act. Indepeftd•nt •xamlnofs stslement Since the thadty's gr088 Inwme exceeded £250,000 your examlngr must be a member of a body Ilsted In sectlon 145 of the 2011 Act. I conffimi that l am quallfied to undertake th& examlnation because l am a member of ICAEW. whlch 1$ one of thé Ilsted bodle$. Your attentton 1$ drawn lo the fact that the cha￿ty has prepared flnancial statements In accordar¢e wtth A￿UntI￿j and Reporting by Charthes preparing their accourts in accordance with the Financlal Reporting Standard appll¢able In the UK and RepubfiG of Ireland (FRS 102) in preference to the Accounting and Reporting by Charftles: Statement of Recommended Practlc8 i88ued on 1 Apdl 2005 which18 referred lo in the exlant regL￿atron8 but has n¢)w been l under8land that th18 has been do￿ In order for financlal 8tstements to provide a true and falr vlew In 8rLordan¢e wllh GenerallYA￿8Pted Ac¢ounting Pradce effective for reporting periods beglnnlng on or after 1 January 2015. I hove completsd my examination. l ￿)n￿rnI that no matters havo come to my attention Sn ¢c￿neCtIOn vAlh the examlnallon glvlng me cause lo believe that In any malerS8l respe¢t.' aceounlfng rett*rd5 were not kgpt in r&8peGI of the charfty as required by sectlon 130 of the 2011 A<. or Ihe finan¢ial statsments do not accord with those records; or the finandal statements do rtot compty with the appllcable requirements concwnlng the fomi and content ol accounts set out In the Charities (Accounts and Reports) Regulatsons 2008 otherthan any requlrement that the acxounts gfvo a trug and fair view whlch Is rlot a matter considered a$ part of an Independent examlnation. I have no ¢on¢oms and have ¢ome across no other mattern in conne¢tlon with the exemlnatlon to vthlch attentlon 8h¢wld be dra&￿ in this report In orderto enable a proper undèrstandlng of the fil￿nCIal statements to be reached. ranl Wade BA ACA Well$ Rlchardson Cannon House Rutsand Road Sheffield South Yorkshlre S3 8DP Dated.. 21 November 2022

CLC INTERNATIONAL OFFICE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JANUARY 2022

Unrestricted Unrestricted Restricted funds funds funds general designated 2022 2022 2022 Notes £ £ £ Income and endowments from: Charitable activities 3 167,478 21,641 157,736 Other trading activities 4 240 - - Investments 5 (500) - - Surplus/(Loss) on dollar exchange (12,864) - - Other income 6 - 138,405 - Total income 154,354 160,046 157,736 Expenditure on: Unrestricted funds general 7 178,045 25,867 194,933 Net (outgoing)/incoming resources before transfers (23,691) 134,179 (37,197) Gross transfers between funds 11 32,777 2,386 (35,163) Net income/(expenditure) for the year/ Net movement in funds 9,086 136,565 (72,360) Fund balances at 1 February 2021 179,568 64,943 249,073 Fund balances at 31 January 2022 188,654 201,508 176,713	Total Unrestricted Unrestricted Restricted funds funds funds general designated 2022 2021 2021 2021 £ £ £ £ 346,855 201,793 71,258 129,990 240 530 - - (500) 226 - - (12,864) (256) - - 138,405 - - - 472,136 202,293 71,258 129,990 398,845 178,418 24,010 182,631 73,291 23,875 47,248 (52,641) - - - - 73,291 23,875 47,248 (52,641) 493,584 155,693 17,695 301,714 566,875 179,568 64,943 249,073	Total 2021 £ 403,041 530 226 (256) - 403,541 385,059 18,482 - 18,482 475,102 493,584

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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CLC INTERNATIONAL OFFICE ASAT31 JANUARY2022 12 13 73,787 1.41 O 85.478 51I15S 15 Cath at b￿ka￿d In lond 61.812 16 {44.99n 410 5eo875 17 18 UnroBfrfrtedftTnd8. d*rb2ted 176.713 201.508 18&654 56&875 MrJ PAtry

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022

1 Accounting policies

Charity information

CLC International Office is a charity governed by a Declaration of Trust dated 8 August 1996 and is a registered charity, number 1058306.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Declaration of Trust, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

1 Accounting policies

(Continued)

Donated goods and services are recognised on receipt.

Rental income is accounted for on an accruals basis and includes all rental income due in the period of account.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Individual items of office and computer equipment are capitalised if they cost more than £1,000 and have a useful economic life of more than one year.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 0% Fixtures and fittings 33.3%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Freehold land and buildings were included in the financial statements at cost. No depreciation was provided on freehold land and buildings. It was the policy of the Trustees to maintain their properties in such a condition that their value was not impaired by the passage of time. freehold land and buildings were disposed of in August 2021.

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CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

1 Accounting policies

(Continued)

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

a) Shares in subsidiary undertakings

The shares in subsidiary undertakings represent Programme Related Investments, as defined in the FRS 102 SORP. Programme Related Investments are included in the balance sheet at the amount invested less any impairments and any amounts repaid.

Where the original amount invested is not known, the Trustees have adopted a fair value based on their best estimate.

Details of the subsidiary undertakings are set out in note 21. Each operating subsidiary undertaking is exclusively involved in running a Christian bookshop. Although no benefit arises from any of the operating subsidiaries, the objectives of these subsidiaries are consistent with the aims and purposes of CLC International Office.

The dormant subsidiary company will operate in the United Kingdom and will be involved in the development of an eReader App.

b) Other unlisted investments

The FRS 102 SORP requires that where the investment is in ordinary shares in unlisted companies it must be included at fair value if this can be measured reliably; or if not, cost less impairment.

The Trustees consider that it is not cost effective to obtain a reliable fair valuation of the other unlisted investments which are included, therefore, at cost.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Foreign exchange

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Statement of Financial Activities.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2022

3 Charitable activities

Bible Companion sales Contributions CLC Projects CLC Holdings Website and Digital income Awaiting allocation Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds	2022 £ 635 134,506 100,925 78,452 32,337 - 346,855 167,478 21,641 157,736 346,855	2021 £ 117 149,317 120,479 80,769 26,379 25,980
		403,041
		201,793 71,258 129,990
		403,041

4 Other trading activities

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2022	2021
	£	£
Letting and licensing arrangements	240	530

5 Investments

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2022	2021
	£	£
Interest receivable	(500)	226

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CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2022

6 Other income

	Unrestricted	Total
	funds
	designated
	2022	2021
	£	£
Net gain on disposal of tangible fixed assets	138,405	-

The profit on disposal of tangible fixed assets resulted from the sale of the charity's premises on Abbeydale Road in August 2021.

7 Unrestricted funds general

	Unrestricted	Unrestricted	Unrestricted
	funds		funds
	general		general
	2022		2021
	£		£
Staff costs	2,703		2,691
Depreciation and impairment	277		1,510
Cost of Goods sold	756		207
CLC Projects	152,920		173,431
CLC Holdings	67,880		33,210
Establishment costs	3,756		1,803
Telephone	929		1,033
Travel expenses	(281)		14,400
Printing, postage, stationery,books and subscriptions	3,216		1,836
Hospitality, Conference and Directors' meeting expenses	540		120
IT and website costs	43,249		36,248
Volunteers' Support costs	106,286		101,884
Bank charges	355		360
Bad debts	13,789		13,246
	396,375		381,979
Share of governance costs (see note 8)	2,470		3,080
	398,845		385,059
Analysis by fund
Unrestricted funds - general	178,045		178,418
Unrestricted funds - designated	25,867		24,010
Restricted funds	194,933		182,631
	398,845		385,059

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CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2022

8 Support costs

Support costs Governance costs £ £ Independent Examiner fees - 2,360 Legal and professional fees - 110 - 2,470 Analysed between Charitable activities - 2,470	2022Support costs Governance costs £ £ £ 2,360 - 2,340 110 - 740 2,470 - 3,080 2,470 - 3,080	2021 £ 2,340 740
		3,080
		3,080

Governance costs includes payments to the independent examiner of £2,360 (2021- £2,340).

9 Trustees

Travel and other expenses amounting to £Nil (2021 - £Nil) were reimbursed to any trustees during the year.

The charity has incurred £274 (2021 - £368) of expenditure in respect of Trustees Indemnity Insurance.

No trustees received any remuneration during the year (2021 - £Nil).

One trustee donated a sum of £6,000 to the charity (2021 - £Nil).

10 Employees

The average monthly number of employees during the year was:

	2022	2021
	Number	Number
	1	1
Employment costs	2022	2021
	£	£
Wages and salaries	2,703	2,691

There were no employees whose annual remuneration was more than £60,000.

• 15 -

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

11 Transfers

Unrestricted funds general Unrestricted funds designated Restricted funds 2022 2022 2022 £ £ £ Support payments - G Scalante 5,414 - (5,414) Contingency fund transfers re Benin (400) - 400 Suspense account fund transfer re Benin - (500) 500 Digital App project subsidy transfer 27,763 - (27,763) Website support costs re Switzerland - 1,041 (1,041) Evangelistic Literature project - 1,845 (1,845) 32,777 2,386 (35,163)

Total Unrestricted funds general Unrestricted funds designated Restricted funds Total 2022 2021 2021 2021 2021 £ £ £ £ £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

• 16 -

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

12 Tangible fixed assets

Tangible fixed assets
	Freehold land	Fixtures and	Total
	and buildings	fittings
	£	£	£
Cost
At 1 February 2021	73,510	9,933	83,443
Disposals	(73,510)	-	(73,510)
At 31 January 2022	-	9,933	9,933
Depreciation and impairment
At 1 February 2021	-	9,656	9,656
Depreciation charged in the year	-	277	277
At 31 January 2022	-	9,933	9,933
Carrying amount
At 31 January 2021	73,510	277	73,787

The freehold land and buildings, comprising the charity's offices on Abbeydale Road, were sold in August 2021 for £212,000, realising a profit of £138,000 which has been designated to assist in property purchases throughout the CLC fellowship.

13 Fixed asset investments

Unlisted investments Other investments £ Cost or valuation At 1 February 2021 & 31 January 2022 8,028 801 Carrying amount At 31 January 2022 8,028 801 At 31 January 2021 8,028 801 2022 Other investments comprise: Notes £ Investments in subsidiaries 21 801 14 Stocks 2022 £ Finished goods and goods for resale 1,410	Total £ 8,829
	8,829
	8,829
	2021 £ 801
	2021 £ 2,043

• 17 -

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

15 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 16 Creditors: amounts falling due within one year Other creditors Accruals and deferred income	2022 £ 53,583 25,925 5,970 85,478 2022 £ 19,862 25,135 44,997	2021 £ 50,910 2,623 8,079
		61,612
		2021 £ 12,408 22,532
		34,940

• 18 -

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

17 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

		Movement in funds	Movement in funds			Movement in funds	Movement in funds
	Balance at	Incoming	Resources	Transfers	Balance at	Incoming	Resources	Transfers	Balance at
	1 February	resources	expended	1 February		resources	expended	31 January
	2020				2021				2022
	£	£	£	£	£	£	£	£	£
Project Antigua	1,304	355	(413)	-	1,246	-	(1,830)	1,080	496
Project CA2	450	70	-	-	520	-	-	-	520
Project Bangladesh	7,115	-	-	-	7,115	-	-	-	7,115
Project Barbados	1,002	-	(1,002)	-	-	14,031	(14,997)	2,163	1,197
Project Russian language Bible Fund	10,714	18,284	(13,587)	-	15,411	2,821	(8,944)	(363)	8,925
Project Benin	39	1,555	(1,594)	-	-	-	(900)	900	-
Project Bolivia	127	14,887	(4,919)	-	10,095	3,006	(12,699)	-	402
Project Bulgaria	1,130	-	(1,702)	-	(572)	2,818	(1,523)	-	723
Project Burkina Faso	301	17,779	(16,563)	1,898	3,415	3,161	(3,402)	-	3,174
Project China	10,992	-	(10,992)	-	-	-	-	-	-
Project Cote D'Ivoire	278	-	(10)	-	268	690	-	-	958
Project Dominica	29	-	-	-	29	1,541	(2,552)	1,080	98
Project Ecuador	180	-	-	-	180	351	-	-	531
Project France: Bible project	-	2,882	-	-	2,882	28,974	(21,629)	-	10,227
Project Hungary	544	-	-	-	544	-	-	-	544
Project India	-	-	-	-	-	1,000	(1,000)	-	-
Project Indonesia	350	1,387	(236)	(1,000)	501	-	(40)	-	461
Project Italy	1,180	2,829	(4,009)	-	-	2,213	(2,068)	-	145
Project Japan	60	-	(1,000)	1,000	60	-	-	-	60
Project Kenya	1	4,534	(4,331)	-	204	1,048	(1,002)	-	250
Project Korea	25	-	-	-	25	-	-	-	25
Project CA1	605	450	(955)	-	100	3,204	(2,940)	-	364
Project Mexico	-	-	-	-	-	200	(200)	-	-
Project Mozambique: Bible printing	28,941	5,315	(23,272)	-	10,984	3,674	2,986	-	17,644

• 19 -

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

17 Restricted funds

Restricted funds									(Continued)
Project Mozambique	24,366	13,087	(13,199)	-	24,254	12,440	(20,068)	-	16,626
Project Mozambique: Napula Project fund	-	8,084	(913)	-	7,171	(3,289)	(685)	-	3,197
Project Myanmar	446	-	(446)	-	-	5,963	(5,832)	-	131
Project Nicaragua	485	-	-	-	485	-	-	-	485
Project Pakistan	9,375	930	(115)	-	10,190	872	(89)	-	10,973
Project Panama	-	-	-	-	-	-	(4,000)	4,000	-
Project Papua New Guinea	26	-	(26)	-	-	-	-	-	-
Project Peru (i)	(9,776)	2,906	(11,882)	-	(18,752)	1,988	-	-	(16,764)
Project Philippines	849	1,000	(1,849)	-	-	-	-	-	-
Project Poland	2,769	2,905	(5,020)	-	654	-	(319)	-	335
Project Romania	-	3,600	(3,600)	-	-	-	(5,943)	6,000	57
Project Russia	9,624	5,605	(5,219)	-	10,010	5,285	(7,141)	1,441	9,595
Project Sierra Leone	66	4,232	(3,632)	-	666	60	(193)	-	533
Project Spain	(38)	1,992	(1,954)	-	-	-	-	-	-
Project Spain: Bible Project	(238)	1,840	(1,602)	-	-	290	(290)	-	-
Project Thailand	90	-	-	-	90	3,853	-	-	3,943
Project Tongo	1,898	-	-	(1,898)	-	-	-	-	-
Project Trinidad & Tobago	1,126	87	(1,203)	-	10	-	-	-	10
Project Uruquay	-	1,172	(1,135)	-	37	537	(500)		74
Project Venezuela	4,048	50	(109)	-	3,989	3,821	(1,767)	(3,312)	2,731
Project Venezuela Support	1,678	2,662	(3,041)	-	1,299	479	(5,264)	3,312	(174)
Africa Conference Travel Fund	1,748	-	-	-	1,748	-	-	-	1,748
Asia Conference	1,538	-	(1,538)	-	-	-	-	-	-
BELT Barnabus Trust	250	-	(250)	-	-	-	-	-	-
Columbia Loan Fund	1,933	-	-	-	1,933	1,060	-	-	2,993
Conference Costs CLC Europe	3,181	-	-	-	3,181	-	-	-	3,181
Digital Technologies	168,369	-	(36,024)	-	132,345	-	(27,725)	(27,763)	76,857
Europe Conferenc: Poland Meeting	1,648	-	(1,648)	-	-	-	-	-	-
Evangelistic literature Project	1,845	-	-	-	1,845	-	-	(1,845)	-
Movie Translation French - Spanish	(696)	696	-	-	-	-	-	-	-
Publishing Fund	9,737	-	(322)	-	9,415	-	(13,400)	4,000	15

• 20 -

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

17 Restricted funds

Restricted funds Publishing Fund KCLCT Website Support Funds Rudy Kuijer Evangelism Fund SOS Fund Print on demand Equipment Fund Awaiting allocation	- - - - - - 301714	- - - - 8,815 129990	- - - - - (3,319) 182631	- - - - - - 0	- - - - - 5,496 249073	10,000 10,000 200 25,686 1,000 8,759 157736	- (8,959) - (11,177) - (8,841) 194933	(Continued) (10,000) - (1,041) - - 200 (9,401) 5,108 - 1,000 (5,414) - 35163 176713	(Continued) (10,000) - (1,041) - - 200 (9,401) 5,108 - 1,000 (5,414) - 35163 176713
									176713

The Project Accounts represent funds raised for projects in specific countries. Where the funds raised are insufficient to meet the project expenditure, funds are transferred from the unrestricted funds of CLC International Office. In the event that the project does not go ahead, funds may be transferred to other projects with the agreement of the donors.

(i) Project Peru is showing as a negative balance but further funds are expected to be received.

• 21 -

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

18 Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities made up as follows:

Balance at 1 February 2020 r £ R Jones - CLC Workers MacKinnon - Other CLC workers - Covid relief - Investment in subsidiaries (Note 20) 801 Non RF Funds awaiting allocation 597 International Council Reserve Fund (i) 14,388 Emergency Fund (ii) 1,909 BELT Fund (iii) - Property Purchase Fund (iv) - 17695	Movement in funds Incoming esources Resources expended £ £ 7,188 (7,188) 4,288 (4,288) 4,415 - 11,740 (11,740) - - 806 (794) 821 - - - 42,000 - - - 71258 24010	Transfers Balance at 1 February 2021 r £ £ - - - - - 4,415 - - - 801 - 609 - 15,209 - 1,909 - 42,000 - - 0 64943	Movement in funds Incoming esources Resources expended £ £ 4,345 (4,345) 4,020 (4,020) 12,093 (16,508) - - - - 795 (694) - (300) - - 388 - 138,405 - 160046 25867	Transfers Balance at 31 January 2022 £ £ - - - - - - - - - 801 (500) 210 - 14,909 - 1,909 2,886 45,274 - 138,405 2386 201508	Transfers Balance at 31 January 2022 £ £ - - - - - - - - - 801 (500) 210 - 14,909 - 1,909 2,886 45,274 - 138,405 2386 201508
					201508

• 22 -

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2022

19 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

(i) The International Council Reserve Fund relates to monies set aside for the costs of the CLC International Council which is organised by the Charity every four years.

(ii) The Emergency Fund is a revolving loan fund made available to CLC ministries in serious difficulties at the discretion of the International Director (with agreement from the Trustees if the sum is above £5,000). Repayment terms will be drawn up as appropriate.

(iii) The Barnabas Evangelical Literature Trust (BELT) Fund represents funds transferred from that charity following the decision to dissolve that charity in January 2021. The funds are to be used for loans towards the work of CLC around the world, particularly for the purchase of property.i

(iv) The Property Purchases Fund was created in August 2021, comprisng the proceeds from the sale of the charity's former offices on Abbeydale Road. The funds are to be used for assisting the purchase of properties throughout the CLC fellowship.

• 23 -

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

20 Analysis of net assets between funds Unrestricted funds Designated funds Restricted funds 2022 2022 2022 £ £ £ Fund balances at 31 January 2022 are represented by: Tangible assets - - - Investments 8,028 801 - Current assets/(liabilities) 180,626 200,707 176,713 188,654 201,508 176,713	Total Unrestricted funds Designated funds Restricted funds 2022 2021 2021 2021 £ £ £ £ - 73,787 - - 8,829 8,028 801 - 558,046 97,753 64,142 249,073 566,875 179,568 64,943 249,073	Total 2021 £ 73,787 8,829 410,968
		493,584

• 24 -

CLC INTERNATIONAL OFFICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022

21 Subsidiaries

Details of the charity's subsidiaries at 31 January 2022 are as follows:

Name of undertaking	Registered	Nature of business	Class of	% Held
	office		shares held	Direct Indirect
Centre for Logistics and Co-	Bulgaria	Christian bookshop	Ordinary	100.00
operation Ltd.
Maranatha Ltd.	Bulgaria	Christian bookshop	Ordinary	100.00
CLC Romania	Romania	Christian bookshop	Ordinary	100.00
Bishkek shop	Central Asia	Christian bookshop	Ordinary	100.00
CLC Digital Ltd.	United Kingdom	Dormant	Ordinary	100.00

CLC Digital Ltd, which was incorporated on 25 June 2013, was dormant for the period 25 June 2013 to 31 January 2022.

The Trustees consider that consolidated accounts are not required as the aggregate gross income of the parent charity and its subsidiaries, after consolidation adjustments, does not exceed the statutory income threshold of £1M (Charities Act 2011 (Group Accounts ) Regulations 2015).

The net assets of subsidiary undertakings which are not material need not be disclosed in the parent's accounts. The Trustees consider that the net assets of its subsidiaries are not material to the parent charity and no disclosure is required, therefore, in these accounts.

• 25 -