c￿rtty r•gl4trallon numbor 1068306 CLC INTERNATIONAL OFFICE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 CLC INTERNATIONAL OFFICE LEGAL AND ADMINISTRATIVE INFORMATION J Chambwlakn G Ince JRaty J W*knns P Nemansky Int•matlon•l dlr•ctor Mr G Chamb8din Charfty Prfn¢lp•l •ddvM• 118 Pwospecl Road Sheffield S174JE Ind•p•ndent •xamlner Grant Wade BAACA Wells RKhardson Cannon House Rulland Road Sh8ffield South YLvk8hlre S3 8DP B•nk• CAF Bank Limlled 25 Kngs Hil Aveme Kmg$ Hill St MaMin9 Kent ME194JQ Unive8t Bank and Tn￿ Co. 10W Broad Street PO Box 64197 Souderton PA18W USA CLC INTERNATIONAL OFFICE CONTENTS Trustees, report Independent examlnef8 report Stat•m•nt of lknanoal athiti86 8alance 8hoOt Slthment ¢f ca8h IknY8 Noles to Ihe knclal statements CLC INTERNATIONAL OFFICE TRUSTEES, REPORT FOR THE YEAR ENDED 31 JANUARY2024 The Irusl888 preunt thelr annual report and finaKJal slaternents fi)T th8 year ended 31 Jwuary 2024. The ffinanaal stalements have been prepared In a(wdance with the accounting p￿Ic￿5 set out in note 1 to the finaneial statements and c¢xnply wlth the charlvs Dedaratbn of Trust dated 8 Augusl 1996. the Charities Act 2011 and 'A￿￿nt￿9 and Reporting by Charflies: Ststement of Rocommended Pra(aicg applkat4e to charftle8 weparing their aczounts In accordance with the Finanoal Reporting Slandard applicable In the UK Rep￿1¢ of Ireland (FRS 102)" (eff8clive 1 January 2019). ObJ•¢fjvts •nd •¢llvlUa• Th8 chartls obi8(*s are.. - The advancemenl of tho Evangeknl Tenets of the chris11￿ rellglon dth8r In the Unilad lfjngdom owr8ea8 88padalty through Christian rrteralure. - The ao*ancement for the publlc benefft of religmws or ott*r edurailon. CLC is a missionary feknyship op8rating in 44 ￿XIntrI•S around the worfd. &￿1 enlty has its own r8gislralion in Its county of operntbn. according io national legislation. There Is no legal responlbllty or ownershlp - apart from Romanla. Bulgaria, Kyrgyzstan and France - arwj Ih? Individual CLC Ngan¥zabons work tog8lher under the guWin•s ol the voluntary cc#Je of the CLC International cor￿on and the Guldlng Prlnclple8. The role of the CLC Intemational Offbx is to fadlitate CLC mintstrie$. to obtain and provide fundlng fu proJ8ct8. to create and manage web8ltes and other dlgital proi8cts, to provtde 6upeTrision arKI training servlc•s ard lo seNe a8 a common point of wmmunicalion and referenca far CLC worfdwide. Tho funthon of the Inlemationd Offi(* is carried out by the Reglonal Dlractors ofth* reglons - Afrfca, Asia, Europo, Latln Amerlca. North Amelio & Caribbean - and a Digital Dirtt*or. Wa￿1r￿a in ￿nIunctIOn wtih the Intematlonal Dkector. This group given aulhorlty by tha four-yearty Intemational Counol lo interprel and apply the CLC Intemalonal Constitulion. Vthile the Irrtemationg18nd Region81 Dlfacaors do not have oxe(Xrtp￿ authority over the nallonal CLC teams. thelr responsibility in fulfilling the ro18 of the Inlemaknal OffKe is lo monltor and mentor, lo hokl a(x>)urtsble leaders to their objoclves: to provid6 le•defship training: to gN8 obJ"8dive as8es6ment of the health of th8 Otganisalion., to wovide oversight and ac&)untablllty for grants made., and to be a servits provider for webslt8s arKI trainlng. The tru¥tees have paid dua regard lo gUid￿Ce issued by the Charity CommIssl￿ In dodthng what aL#￿ItIO$ the charty 6hLwld undertake. The tru8to88 aro atw aware ol the Chaiity ComThissron's guidance on public benefft In The Advancement of Religion for ts Public Benefft and have had regard lo il In their administratM)n of the Charty. Tho Tnth8s récord their grateful th8nks to the ¥olunto0rn who hava helped In malntsining the office, visited oversea6 ￿tr¢S and offered Iheir advi(x and assi8tance throughout tho year. Tholr ¢ontiibulon has bean kn*AluaN•. CLC INTERNATIONAL OFFICE TRUSTEES, REPORT {coKfiNUED) FOR THE YEAR ENDED 31 JANUARY 2024 A¢hl•v•n*nts and p•rfom#nc• The year eThled 31 January 2024 was posilive for CLC intsmatH)nally. By thè aNI of the fj6c41 year global 8ale8 continuad lo inryease ty over 13% above the previous fiscal year. On4ine sales representad aèoul 14% of lo global 6*s. Addltlonalty, many ¢ounln'e8 continue to have Strong sal￿ on thlrd-paty wgbwtes 8uckn a8 Amazon, Ebay. Shopeg arKI Mercaddibre. Some o￿ntrIeS contknu6d to have a signfflcant hKrfja8e In sales by engaglng customers ￿ Godal media platforn￿ 8uth as Vttwtthpp. Facebook and Instagr￿n. Global PubU•hliig Prol•ct About 10% of globai 8alo8 were g￿erated frorn our global publlshing &di¥7ti8B. Tlls Is a 8[gThff￿dnt acPwevement and fwit of our prcj'ect to 0￿ble Global Pvblishing in 10 Years. which ended on DK 31, 2023. We have worked conslstenty In holding important tralning seminars and organislng forelgn languag8 rights fair5 In colla￿tiOn with ECPA. W8 began the proied in 2014 with 2001 tid8s already in prfnt In 15 ¢ountsie8 and 18 languages. Th8 projed ended ￿th 4,634 in prlnt in 23 countries and 21 language$. S. Kore8 b by far the largest publisher in the CLC Intemational Feuowshlp. followe(I by France. Colonthia. Indla and tho USA. lrtèmatlonal Dlrrtttsr and Roglon•l Dlr•elors The Intemallonal Director, Gary Chamberfin. conllnued to load the body of Rogional Oirodors throughout the year. meeting O￿as1onalY via Zaom and In4)erson at the Regh)nal meetings in Poland arKI Colombla. There was a focus cm hovlng tho Regional Directors attandlNJ th8 WdriOUS regional gatherings in order to gain a more soNd Intemational pers[￿￿Ve and to meet the CLC National Directors and some team memtérs from the 44 o)unlries whoro wo have op8ratSons. They ￿)nt[ThU8d to concenlTale on giving valuatle oversight to the varlous CLC leaders team$ through vI￿t$, ￿de0 meelings, instant messaging and emails. David Pabon frcAn Golombla was re4lecled as the Latin America Regional Dir•*r. JIM Pitrnon from the US was alècted as the North Ameri(% & Caribbean Diredor. Sohe& Yoo from S. Korea was 81othd a8 the Asia ￿rectOr. The8e electM)ns were subsequenty ratified by the CLC Intematlonal C¢)un(al Meetings near Rome in Septembor 2024. Job descriplions forthe ro18$ of Internatfonal Dlroctor and Rgglonal Directorwere dev8lop8d and approved. Ivano Cramerotti of Itaty was appointéd as the Dlgital DIr￿tor wtlh an expanded role and 88 8 member of the Regional C¥r8ctOf8 group. He wli l contlnue to bo mentored 8nd tralnad by Ihe outgoing Dlgrtal Dtroctor, Neil Wardrope. during 2024. Th8 Council 4wII be asked lo approve this mle at the Mo￿1￿9S Ixrtside of Rome In September, 2024. Global m8ellny on Zoom The of Zoom to enablo globa meetings wntintffjd lo be effethe and apweciatsd. It h an èxr*llent way of brtnging the w0￿d￿de CLC Fellowshlp logether. Thiee me8tsng8 lo prornote prayer for the CLC Fellowshlp were organ18ed In March. June and October. Approxlmately 120 CLC staff participated al each meetlng from about 40 untries. Tho dO￿tIonalS at these me8tings f(Kused prlmarily on Ihe CLC Core Values of faith. fellW￿hlp. hc41n8s8 and sauTfice. MutsAI Support The Intematlonal oifrce conlinued to fadlltale the 8LlPP)rt ol r*rtain CLC mlnlthes lo strengthen those that were particularfy hard hit ty Ihe pandemic arKI have still not fuly re￿va￿d. SuprM)rt Was espedaHy Ic¢u$ed on funding Salarf￿ and he￿.n9 a few wunlrieg purc*ase badty ngeded sl￿ as Benin, Bu￿1n8 Fa￿, Mexico. Peru and Sierta Leone. In part￿lar. the Caribbean islarKl$ benefilad In Ihis way since th6y {￿ntInUed to fac• great Ihroughout tho year. Fr•nch •p•aklng ¢oirf•r•nco In February a Francophone meetkng was hdd In IvThy Coast vAth the NaIk￿81 Dire(aorg of Bonln. Burkirw Faso. Canada. France and Ivory Coast in altendanc•. The Afrlca Regional Director and th8 Internaltonal Director also attended, together with Hervè Lessous of France. We are wothing to deepening the relaUonshSp belween these oJuntrle$ and rwni8e that France is in a key posit&)n bKause of its dominanca in publishing and dlstrlbutlon. are exploring the hlea of opening a Warehou￿ for di8tribuU¢x) In Abidjan for 811 of Francophong AfrKa. In addlllon. nds were aNocat¥d to produce thtyJS￿dS of evangell8tic t)ook*ts #i Frenth for Franwone cthinlri08 in AfrKa. CLC INTERNATIONAL OFFICE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 ProJ•¢t Fundlng and Int•mitlonal ProJeGts India Is conslnxting a new four-story bullding in Ch￿nal on a vacant lot ft has cA¥ned for derAdes. The trA4lldlng will Indude a parking atea, a larye shop, Offi￿$. a conforencè rwm and rooms to host guests. In Sl8rra LeoT)e the bU￿dIng project for the bookshop on the grounds of a Methodlsl Church became a reality In Bo City. The CLC shop is on th8 ground fioor with a rentd prop8rty above. Ecuador finished it5 building proiecl for a new shop and bthol88ah centre in Ihe uty of Guayaqull. After much ¢Jelay and WFih the Supp￿ of the International Office, the daed to the propety In ChiaNJ Mal li Ilrnily In the hands of CLC Thalland. Panama purthased a larga plot of ground in a stratwJic kn¢8￿0n kn the iaty of Davtd wllh Ihe help of a loan. A I￿lIding proléct soon begin to construct a CLC Plaza. whk* wlll have a bookshop and thon sèveral rental A PToiact to put4ish 25,(￿0 Children's Biblas for needy co￿)trIes bagan. IrKlkq Ihe Phlppines recewed fvrKl$ to publbsh 8,1)00 of copies of The Pl¢bJrè Bible. are ￿lIaborn￿ng with Copenhagen and Davhl C. Cook pubiishers to find the rfghi tltl6s for different age groups. are planning a large PMI In elgm languages for 2024. FIna￿lI1 r•vl•w Income Total Incom• for the y8aT was £430k (2023: £529k). Funding for woJocts anv)unled to £208k12021' £299k) and wa$ princlpally from CLC organisations but also from trnsts and indNidual8. Nonvprojecl Ir￿￿￿ of £222k (2023: £230k) induded £185k (2023: £153k) con￿bU1￿)n$ from ot￿r CLC organha15ons, £43k (21)23: £55k) from website c*arges to th098 organlsallons, £4k 12023.. (£20k)) comprising foreign ex(*ange galns and *)$588 and £2k I2￿23. £2k) other sources (mainty kknst, book sales. rents and dMations). Exp•ndknr• Total expenditure for the yeaf was £407k12023: £518k). Expendlture on projects anwunted to £179k (2023.. £346k). Non*roJect expenditure of £228k (2023: 172k) inc4uded £101 k 12023: £72k> on support for staff and volunteers. £40k (2023.. £22k} on their travel and ac￿MMOdat￿. £63k (2023.. £41k) on webs￿8 and IT o$ts, £8k {2023.' £11 k) on ¢ontrlbulion8 not paid and £16k (2023: £26k) on other ¢￿ts. R•wrvo9 P¢ll¢y Fr88 reseTrps at 31 January 2024 are £361k (2023.. £383k).11 is the Trusleo8' opini(￿ thal unrestrlcled lund8 equal lo at least six months. nornial éxpendiiure should ba makntakned. amourrtg lo approxlmately £110k (2W23: £91k). In thls context, the trustees con8ider nNmal expendfturo Should excfud8 r￿sts ol supportuw prdects. tran6ferJ, prai8d fvnds, doprociation. bad debts and other nOr￿MIltod expenditl Summary Due to the tirning of 9ranl makirvJ expentJtur•. tho nei assets hm Incrnased and th8 Fund conlknues to méet the Trustees. obJedNe of havirvJ sLx months. expendilurg In harnl. The Trustees consider that the rea8￿$ are sufficlent lo cover au fora808able Project Fund Liabilitiès. Fund8 car￿d forward at 31 January 2024 are £625k {2023: £801k). Pl•n• lor fulurn perfodg The Intamational Direct￿ a number of key priryibes. Thesè include a focus on makin9 strategic capltal investments. Including Ihose already des¢rlb8d in this report, helping and preparing fulure188dershlp. strengthenlng weaker ciJuntr￿. consolidalvw growth In stronger Countries. 9rThryng digttal and Sodal média generalty. developing $Wdal projects and grcwing ￿ donor bas9 arKI beginning to expbre opportunities In some Muntries. The Regional Dlrerkn8 kept these pr¥yitEs wi foojs durlng the year. resuttlng in FA)sibve developments for each priority. ¢tUf•i gov•rnanGe and managom•nt The dwriiy is govemed by a Declaration ofTw81 dated 8 August 1996 Is a registered tharlty. nurnber 11)583C6. The Iru8tges w*M) served dwlng the year arKI up to the dato of slgnatwe of the Ilnancial statements wero: J Chambertaln Gln J Raby J v￿l￿n¥ H Alvarez P Namansky C PUtsf￿4 (Resigned 10 May 2f23) (Appoinled 3 JLty 2023 and resigned 18Augus12024) CLC IprrERNATIONAL OFFICE TRUSTE￿ RE￿T (CONTINUED) FOR 7HE YEAR ENDED 31 JANUARY2024 The Tfiskes WO￿ to mwlai) intefv of the CLC K) F￿%1 ty malntsinir¥J Ihwthl p￿11¢08 and The T￿￿190$ recognwo that tr*y mwt acl in tha best intwo•ts ￿ the and a• a bthly VAI lakè CLC INTERNATIONAL OFFICE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CLC INTERNATIONAL OFFICE I report to the trustees on my examination of the financial statements of CLC Intemational Office (the charity) for the year ended 31 January 2024. Re8ponslbllltles and basls of report As the trustees of the charity you arè re8ponwble for the weparatim of the financial statem•nts In acmrdance the requlfem8nts of Ihe CharitiesAct 2011 (the 2011 Acl). I report in resped of my exanination of the chariiys finanoal statemerts carriwj oui ￿￿er section 145 of the 2011 Art In carrying out my examinats'on I have all the aFfAicable Direction5 given by the Charity Commisslon under seclion 145(5Mb) of the 2011 Act. Ind•p•nd•nt •xamlnerfs statement Since the charlvs gr0&8 Income exceeded £250.000 your eyaminer must be a member cf a body listed in secti¢ 145 of the 2011 Act. I confinn that l am qualified to undertake the examination because l am a member of ICAEW. which is of the listed bodie& I have completed my examination. I confimi that no matters have come to rny atlention in connedlon wllh Ihe examination giving me cause lo believe thal in any malerial respect.. accounting reo)rds ￿re not kept in respect of the chanty as required by sec*ion 130 of the 2011 Ac( or the finanrial ststements do noi ￿cOrd ￿1h thos• r•u)rds: or financrdl ststements do not wmply ￿ty1h the applicabh requirements conlxmlng the fom and content of accounts set oirt in the Charllles (Accour)ts and Reyjrts) Regulattons 2008 other Ihan any requirement that the accounts glve a true and fair view which is not a matter wnsidered as part of an indeP￿dent examlnation. I have no concems and have come across no other matters in rnnnection with the examination to whlch attentK)n should be dravm in this report in order to enable a propor under8tandirYJ of the financial statements to be reached. BAACA Wells Rlchardson Cannon House Rulland Road Sheffield Solth Yortshire S3 8DP Dated: 20 November 2024 882 CLC INTERNATIONAL OFFICE BALANCE SHEEr ASAT31 JANUARY2024 i y 11 8.829 CurMI 12 1gT.885 453.345 149.6B6 478.858 851.513 629.090 14 <36,80n 615.957 W2.283 624.786 6Q1,112 The funds oftho chafKy 16 251,533 173.393 19IWJ 209.810 192.359 199.143 17 824.786 eo1.112 Jrf JRS CLC INTERNATIONAL OFFICE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY2024 2024 2023 Ca•h flrn from opor•tlng athhle8 Cash ab80rbod by operations 127,503) {38,204) Inv•8tlng actlvltl•s Investment irKome rec8lved 2.192 Ngt rA•h gonoratsd Invo•llng 2.192 705 N•t ¢Mh uud In fln*nclng acdvlU•• N•t do¢r•••o In rA•h and c••h •wlvalonts (25,311) {37,499) Cash and cash equivalort8 at beglnnlng of yew 478,eJ56 518,155 Cash and ¢￿h •qulv•lgnts at•nd olymr 478.656 CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY2024 Aceounllng pollclo8 Charfty Informallon CLC Inlernatlonal Office 18 a **arity g0￿Med by a Dedaralkn of TNst dalod 8 August 1996 and 18 a registerod tharrfy, numbw lo5831￿. 1.1 AccO￿n11n9 ¢onv•nllon The finanoal statements have been Fxepared kn acccxdm with the tharfV8 Dedarauon ol Trust. the Charfties Act 2011. FRS 102 The Flnan(xal Reporting Standard appiicabje In Ihe UK and RepublK of Irelon(r rFRS 102) and tha Chaiitse8 SORP "Accounliry and Rew1ing by Charilies.. Statement of Recommended Practice applicablè to charities prèp3dng thw ao%unts in accordance wSth the Financial Reportlng Standard appllcabl8 in Ihe UK and Reput￿lC of Irel￿d (FRS 1021. (effedive 1 janu￿ 2019). The d￿rity is a Public Bonefft Entity as defined by FRS 102. The financlal 8tatemonls are prepared in sterlirwJ, whkh 18 Ihe fvnctional wrrenry of the tharity. Monetary amourts in Ih088 fknanaal statements are rnunded to th8 nwe8t £. The financial statements have been weprnl under the h18lori￿1 ¢061 cx)nvention. wlndpal arAwnting poIK48s 8dothd are sal oul bel(Av. 12 Golng At the lime of 4ppmwng the financial 8t4tements, the trustees have a reasonable exp8(aation thal the ¢h8rtiy has adequate resouf¢e8 to o)nlinue in operational exlstence for the foreseeable fulur6. Thus Ihe Iru8t80$ contlnuè to adopt the gokng o)n¢em ba81$ of acc*unling in weparlng th8 financ4al 5tstements. 1.3 ChArftabl• lund• Unrestricted funds afè available for u$8 at th• di8crelion of the truste08 In furlh8rarKX of Ihelr tharltable Object￿8. Reth¢Xad funds are subjed lo specific c£Jndltlons by donors or grantors as to how they may be used. The purposes and tss£$ of the reslri&ed funds are set oul in the notes to the finaniial statemants. EThdowment funds aro sul48ca to 8pe¢ific uThlitions by donorn that th8 m￿1 be maintalned by thè tharity. IA Incom• Incomo 1$ re¢(ynised when the dwrity is legalty entlU8d to It after any p8rfom7arKe ￿n(￿lIonS have tfjen mel the amounts can be measured reliatty, arHI il is probable that income wll re￿ved. Cash donattons are rec4)gnlsed on receipt. Other donafjons are fec4gnised once Ihe d)arlty has been notffied of the donatlon. unloss pwfomwnce condttlons requlre deferral of tha amount. Income tax racoverable tn rolalion to donations recel¥8d under Gift Aid or deeds of covenant Is recognlxd at the tlma of tha dOna￿On. Legaoes am racowised on r￿lpt or otheNse rf the charlty IM¥ be•n not￿ed of an npendlng d18tr1)ution. the amount 1$ knLwi. a￿j receipt is expected. 11 thè smowt Is not the legacy is treated ContI￿nI asset. Donaled goods and SanA￿ are rKognlsed on recepL Rertsl kncomè is aCCOlXlted for on an acxruats basts and indudes all rental income due in the perfod of account. CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Aecountlng poll¢l•• (Contlnuod) 1J Exp•ndlturn Expendriure is recognlsed once there 18 a legal or eon8truth* oblgabon to transfèr economlc t*nefft to a thlrd party, il 18 ly0bab￿ that o transfer of economic benefits will bg required in setuemerrt, and tho amounl of the obltgatlon can bo Me￿￿red rellably. Expendiluro is rJas8thod by The o)$16 of eath a(*￿ are made up of Ihe total of dirert costs and shared ¢08t8, inclLKling support costs invofved in und8rtaking eath actplity. Direct costs attributabl8 to a 8ingle actiwty are aNo(ate(I directy lo that acti￿ty. Shared costs vthich ￿ntrIbirt• lo more than one adtvity and support costs whkth are not ottribulablo lo a %ngle acal￿ty are apwtioned belwoon th080 actkniies on a basls consistent with the use of resources. Central *aff D)sts are allocated on the ba818 of tlrno spenl. and deprgdalion tharyJes are allorAted on tho wtM)n of the assrfs usa. 1A T•nglble Ilx•d au•ts TaTrJlblo fixed a¥sets are Inttially m888ured at eoit and sthequenlty maxwed at cost w Valu￿10￿, r￿1 of depreaatk)n and any impaimwnt108ses. Indlvldual itgms of officA and cornpjter equipment are ￿P*all6ed rf they Cost more than £1,OtXI and ha%* useful economic life of more Ihan one year. Depreciation is reo>Jgnlsed so as to wrkn off the cost or valLthn of a$sets1958 th8lr residu￿ valu08 ov•r Ihetr useful Ilves on the following base&" FIx￿re8 and ffttiws 33.3% The gain or b$8 arislro on the disposal of an asset18 determined as the dIffe￿nc* betre•n th0 8alg proceed8 arKI the carrying valuè of the assèt and is recogni88d In the ststsment offinandat actNibes. 1.7 Flx•d asset Inv••tm•rt FLxed ajset Investments are InNI81ty measured at tr•n8acllon exc￿￿9 transadkn co8t8. and arn 8ub¥equontty measured al fair value at eath reportlng dat•. Changes in falf Valu8 are reD)gnl8ed In nfrt irwmollexpondAure) for the year. TMsaclKn costs are expensed as a) Shares in subsldlary undertaktngs The shares In 8ubsldlary undertakings rewesent Programme Related Investments, a8 defined in th8 FRS 102 SORP. Progfamme Related Inveslments are inckxled in tho balan￿ sheet at tho amount inve8ted1fr88 any impalm￿nIS arml any amount8 repaid. ere Ihe origlnal amoLrt invgstod 18 not Ihe Trustegs have adopted a fair vaiue b&8•d on their best 08fjmate. t)etails of the subsldi8ry undertakings are sol out in note 19. Eath operating subsldlary Underta￿n9 Is ex¢kJ6NeFy involved In running a Chri81ian booksh¢)p. Although no benefrt arise8 frorn any of the operathg sub8bJiarfe8, the oblec*ves of th8$8 sub8idiarie3 are consi8tenl with th• aim8 and Purpo￿ of CLC Intemotional Office. The dormant sub8hJiary cJrrent Ilabilth'es. Trad8 creditor5 are fecognlsed Initlaliy HI transactbn prlce and subsequantly measured at amortl8ed cost using the elleclivo interest method. Derneognlthn offlnaneml Ilabllttles Financ481 Ilats'lities are derecoynlsed when tho tha￿￿3 conlrarAual obiigallons expire or are dtstharged or cancelled. 11 CLC IKfERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2024 Accountlng polw Iconllnu•d> 1.11 Employ8• bonofits ¢>)8t of any unl￿e￿ holthy entitlement is re¢x)wffjed In the wiod in wlth the omployee's 8er4lcas aro Tom)knatioTr benefits arn r8co9ni5ed wnmed*lety ￿ an •xpen8e when the tharlty18 dem(N)strably committed to l•milnale the emplo￿nent of ￿ employee orto prowlde16miiiatv)n beneffts. 1.12 Fornlgn •xch•n Monetary assots and liabilities denomlnated in thign ￿￿en¢la8 ar• tran8iat8d into SterlSrvJ at th8 rales of ex(*ange prevalllng at the acxts 1.787 151,522 27.574 324.835 21,612 li 1,795 837 40.031 228 3.772 Tlavel expan888 Printing. postage, stslonèry.tooks and subsulpiion8 Hospitality. Conference and Directors, meetlng axpenses IT arKI website cmts Overèseas Support costs Bank charges Bad debts 22.211 5,631 378 41,081 71,974 623 10,926 1￿.504 8,529 4(b),804 507.452 Sharn ol•upport and goV¢m￿ce ¢08ts (M• nofy 6) G0veM￿Ce 6,010 10,130 406.814 517,582 An•Wh by lund Unreslrictad funds- general Urne8tiicted funds- dejignthl Reslricled fijnds 227,718 27.574 151.522 171,335 21.595 324,652 4CO,814 517,582 14- CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMEKrs (coKriNUED) FOR THE YEAR ENDED 31 JANUARY2024 Support ¢Mts Support Gov•rnanc• costs o•ts 2024&pport costs Govemanco 2023 IndepMdei)l Examiner 2,550 2.550 2.81x1 2.800 Legal snd profes81t￿81 3,460 7,330 e.ofo 6,010 10.130 10.130 Analysad bth••n Charitable actlvfti88 6.010 8.010 10,130 10,130 Govama￿e o)sts indwles payThents to the trxlgpendent examiner of £2,550 (2023- £2,800). Tru•tM• Travel and other expenses wnountiwJ to £Nil (2023- £Nil) wwe relmbiwsed lo any tru8tws dwing the year. The **anty ha8 incuThed £376 (2023- £377) ol expernlllure in respaGt of Twstees Ind4wnntty Insuranco. No trustees rerAived any refiwnerat￿n thiing the yew12023- £NiD. Thè avaraga m(thly numbaf of employees ￿rfr￿j the y•w vrd8'. 2024 Number 2023 Nurnber Employm•nt costs 2024 2023 Vthges ar￿ S¢yJal 8ecurty o)8ts 1,725 1,787 There were no employees annual ￿Th￿nerstion was mth than £60,IXXI. Taxallon The ¢hth h exempt from taxallon on its a£*￿1@$ lJerAu$e al it8 income 15 appl￿ for charfiabla purposes. 15- CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 11 Flxed a•••t Inve•lm•nt• Unll*ted othor tm•nts Inveslmonts Totsl o•t or v•luatlon At 1 FobNary 2023 & 31 Jwuary 2024 8,028 801 8,829 Carrylng amowrt At 31 J￿uary 2024 8.028 8.829 At 31 J￿Uary 2023 8,028 8,829 2024 2023 Other investments comprise: Investments In s￿￿'d18￿88 12 8tsks 2024 2023 Fknished goods and goods for resale 748 13 Debtov• 2024 2023 Amounts lamlw duo wllhln on• ymr. Trada dabt(xs Other debtors Prepayments and accrned ffKx>me 69.208 123,269 5,408 54,598 82,078 13.010 197,885 149.e88 14 Cr•dltorn: •mourbl• fallkng duo *lihln on• y•*r 2024 2023 othor taxation sodal seujrity Trade (xeditors Other tyedllor8 Accwols and deforfed income 81 2,130 15,612 19,004 15.612 17.636 35,556 36.807 17- • yln 88g LUQtt CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y2024 18 Unr••trlctsd fundB The unrestrf(#ed funds of the charity oJmprise the unexpendad balanw ofdonations and grants which are not 8ubJact to ¥peryfic condilon8 by d¢nor8 and grantors as lo how they may ba usad. Th88e In￿L￿8 dewgnated funds WI￿ have been sel ask18 tyjt of unre•tricle(l ￿ndS ty the trustaas for spoclfic purpose8. At 1 htrrtuary kn¢omlng Re•our¢•8 2023 v••our¢H exp•ndgd Tran•hr* At 31 January 2024 Genoral funds 192,359 221.e82 (227,718) (12,910) 173.393 Pr•vlou• y••r: At 1 Febr￿ry 2022 Incomlng RMourc rnsourc expondod TT•n•f•rn At 31 January 21123 Genornl fund6 188,eA4 230,028 (171.335) (54.988) 192,359 19- I y)00 oo CzEwoLtz CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 18 An1￿1* ol n•t U•ots bel￿n fund• Unrn¥trlctsd Unre8trlct•d fund• fund• gon•ral dg•lgnatsd 2024 2024 Total lund• 2024 2024 At J1 January 2024: Inve8tm8nts CurTort as8etslOiabilfdos) 8,829 615,957 185.365 199.059 251,533 173.393 199.860 251,533 624,788 Total fund• gon8ral do•lgnat•d_ . 2023 2023 fund• 2023 2023 At 31 January 2023: Inveslmonts Current as8otsiifiabilit*s) 8,028 184,331 801 198.342 8,829 592,283 209.610 192,359 199.143 209.810 eJ)1,112 19 8ub•ldlart•• Dalals of Ihe <*arWs s￿61dl￿a$ at 31 j￿ary 2024 are as foll(y•￿' N•m• ol undortaklng R•glslor•d Ilatrr• of b￿1n¢ Cl•M of %He •hv•s held Dlrect Indlrect Centr8 lor Logislics and Cfr Bulgaria OF•ralion Ltd. Maranatha Ltd. CLC Romanla Bishkek shop CLC Digltal Ltd. Ordinary 100.Tr) Bulgaria Chrfstian bookshop Romanla Chrrslian bookshop CèntralAsia chrI￿lan bookshop United Klngdom t)orrnart Ordinary Ordinary Ordinary Orclnary 100.Q) 1cKI.I)O 100.00 1￿.00 CLC Dlgltal Ltd {Co. no. 08582787). ¥¥hlch was In¢￿POrated on 25 June 2013, was domlant for the p￿d 25 June 2013 to 31 January 2024. The Trusiees consider that Consolidated accounts are r￿1 required as the aggrggate gross income ol the parent charity and its subsidiaries. after consolldatlon adiuslments. do85 not exceed tha statutory income threshold of £1 M (Charrtles Act 2011 {Group Accoun18) Reguktions 2015). The not as8et8 of subsidiary undertaklngs whKh arè not materfal need not be (fwkn&d in the p8renYs a￿oUnts. The TnMlo88 cOn￿der thal the net assets of Ils subsidiaries are not matsrial to the parent charity and no dlsdosLKe is required. theretse. in these accounts. 21 CLC INTERNATIONAL OFFICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 20 Ca8h weratod from oporaOon• 2•24 2023 Surp￿3 for Ihe year 23,674 11,258 Adluslments for: Invesknent irKomo reo)gnlsed in 8latemenl of finani>d aclvS118s (2,192) 1705) Mowmenls In 4¥(Kkin9 cathl.. Deuaase in stocks (InL¥ease) in debtors (Decrease) in ¢redltor8 465 (48.199) {1.251) (37,401) (12.018) C••h ib•orfo•d ty opgrallons (27.503) (38.204) 21 An•tyslg of thng•• In nat fund• The ch￿lty had no malerlal (tsbt durfng the year.