sawm arab world mlnlsiry of Arab World Ministries I'riJstp.p. Rppr)rt and Annulil Aconunts 20?.3 REPORT OF THE DIREcfoRS AND GENERAL INFORMATION
PSYEERS Contents PAGE Report of the Trustees Report of the Independent Auflitor 9-12 Statement of Flnanclal Actlvltles 13 8alance Sheet 14 Statement ot Cashflows 15 Notes to the Account 16-22 2122
PI&NEERS Directors/Trustees Mr P Elam Mr K Butler Rev Dr l D Farley......... (resigned 31st December 20231 MrMSHyde Mlss E Ma8gs Mr A Mateer Ms O PetTIe ...... .... ... Mr J Sedrak Mrs H Tiptaft .............. Iresl8ned 30, June 20231 Iresl8ned 16, September 20231 Secretary and Registered Office S Leader 37, Market Square, W5tney. Oxon OX28 6RE Re8lStration Reglstered in England and Wales. no 3275009. The company is Ilmited by guarantee, and does not have a share capltal. Reqlstered wlth the Charlty Commls$lon, no 1059106. 8a n kers HSBC UK Bank plc. 41 Market Place, Loughborough. Lelcs, LEII 3EJ Princi pal Investment Managers CCLA Investment Mana8ement Limited CCLA Fund Managers Llmlted Auditors Just Audlt & A55urance Ltd, beln8 a flrm In professlonal succession to ReesRussell LLP, Chartered Accountants and Registered Audltors, has indicated thelr wllllngness to be appolnted as audltor. 3122
•rnb MI1Y*l PI&YEERS Charitable Ob ectives and Status The Company's prlncipal actlvlty continues to be the advancement of the Chrlstlan falth amongst Musllm peoples of the Arab world. The Company has charitable status and 15 reglstered wlth the Charlty Comm15sion under reglstratlon number 1059106. Public Benefit The Directors have had re8ard to the Charlty Commisslon's 8uldance. Includlng that on "Chèrltles Working Intemationally" the general public benefit guidance -charities and Public Benefit. and the supplementary guldance contalned In Yhe Advancement of Reli8ion for the Publle Benefit". Other Charlty Commission governance guldance is also regularly shared with the directors. Governance Structure and Mana ement The Company's activitles ère re8ulated by the Mernorandum and Artlcles of Assoclatlon. The objects of the Company are.. l. to advance the Chrlstlan falth amon8st Musllm peoples of the Arab world wherever they may be found. and to promote the same in the UK through encouraging prayer and flnancial support. 2. to relleve need, hardshlp. 51cknes5 or poverty amongst peoples of the Arab world. 3. to advance Chrlstlan educat5on and training of people of the Arab world. Director5 & Charity Trustees The dlre¢tors listed on pa8e 3 have served throu8hout the year, save where Indlcated. The dlrectors of the Company are also the trustees for the charitable •ctlvities of Arab World Minlstries. The UK Director throughout 2023 was Phil Elam, Or83nisation and Struccure Appointment and Tralnin8 of Directors The charltable company ensures that exlstlng dlrectors are kept Inforrned of the activitles and perft>rmance of the charlty and are provlded wlth regular management Informatlon. The dlrectors continued to meet regularly durlni the year to revlew all aspects of the Charlty. Includlng the composltlon of the Board and wlll seek to appolnt addltlonal members wlth approprlate skills and expertlse should the need arlse. Interested partles are 8lven detalls of the background of the charltable company In order to make them aware of the current activitie5. Organisational Structure The day-to4ay management of the charltable company Is undertaken by the UK Natlonal Dlrector and the leadershlp team who meet regularly to ensure 8ood ¢ommunlcatlon and leèdershlp. Charitable Actlvlties The charitable Company has contlnued to pursue Its rnaln oblectlves as outllned above wlth a prlmary focus upon the advancement of the Chrlstlan falth amon8St Musllm peoples of the Arèb World. In overview, fleld-based Chrlstian5 involved have been minlsterln8 bv: l. Ralsing awareness and understanding of the Chrlstian falth amon8 Musllm peoples ot the Arab world: 2. Helplng to support Chrlstian churches In the Arab world. Our en848ement with engulrers avold5 ne8atlve comment5 about other bellefs and Includes.. Mak5ng Chrlstlan teachlng avallable In ArabSc, French and Kabyle Ilan8ua8es of the Arab worldl over the Interne( in printed materials and throu8h online or broadcastin8 media,. Linking Up i501ated Chr15tlans with other Ilke-mlnded people. Responding to enqulrles about the Christian faith received in face to face meetln85, in correspondence. and through online medla. IEnquiries from all locatlons are welcomed, as many Arab world peoples are to be found In Europe, North America. and elsewhere. All such enquTrrie5 are answered free of char8el. Taking special care to remove mlsunderstandings about the Chrlstian faSth whlth are commonly held by many from the Arab world. 4122
PltrNEERS Fulfilling our 0_bj.eots Training Hub 2023 has seen us continue to develop tr8iningopportunltles. Through the Tr4lnlng Hubwe seekto train nd equSp our individual WOfker8 and volunteèrs prior to their overseas a$sl8nment$ as well as providing speclfic training ev8nts to group$ of our members and the gener81 UK Church. These events are both in person and onllne and help us m8lntain connection wlth member8 and applicants. Communicating with Chrlstlan groups Our repr•s•ntatrws tour UK churche8. conler8nc•8 and 8ludent8roup8to inform and insplre Chri#tian wor8hlp 8etvlceJ 8boui ministry in the Arabworld. Followlngthg ond ofthe pondemlc In 2022. ¢hurche8 have 81owly 8t8rt6d acceptin8 ourrèquest to viyit and give updates about the w)rk. Wo 8pproach ¢hurchg9 8nd offer both In-person and onllne presentationg at zoom me•tingJ. We are pl•8sed to see 8 8teady Increase in thè number of vlsltslrom Iho Prl0u3 y•8r. Even if not 85 many 8J pre-covld times w8 ¢gntinu•to m8lntain 8ood conne¢tSon8wlth churche8 8cr088 the UK. Wevisitedor held onlln• zoom meetings wlth around 130 Churches, compared wlth 80 188tyear. Our monthlyzoom prayer evenings contlnued to be attended by around 40 screens laround 60 peoplé oaeh monthl. Prayer and publleations We have a range ofcommunlcatlon meth¢xls to eonnect wlth dlverse age group8 and supporters •¢ro$8 the UK and Ireland. We 8h8re content ol our 8Ctivltl88 across publications, webjlte and 8oclal medl8. In 2023 wa eontlnutsd to provld9 3p•cific m•ntorlng. coaching 8nd training to Indlvldualg In order that they could share their falth In 8 sensltlve 8nd culturally approprleto w8yto peopl8 from 8 varloty of ethnlc and cultur8lly dltterent backgrounds. Our In-hou¥e m¥gazlne publicatlon. whlch we produco quarterly, w85 m•lled to 7000 dlrectly to 8UPPOrtin8 churches and indlvldu819 Sn the UK. ThSs Is produced to Inform, èn¢ourag¢, gnd chJll8nqe our readers as they learn about howGod Is atwork 8cr038 the reglon. The conten18 include storles of faith and Impaet, guld8nc• for the next ganeratlon of pioneer? and focuses on prolects in particular reglons amongAr8b peoples. Ag8in. m8ny have expressed their gratitude verbally and have donated to our humanitarlan appeals to moet social and 8pirltuAI nd9t0 people In th•ArabWortd. Ouf quorteriy emall upd8to is sent out to around 700 emt411 addresses. Ouf quarterly prayer di8ry. which facili18tes prayer tor the règlon. ¥v85 sent to approximataly 1.000 recipients. and our fortnlghtly prayer update to 8pproximat•ly 900 ndivlduals or 8roups. We also update nearly 350 churche2J each quarter, wlth an •mall. Our onlln• ma88zlne saw8n Incre88e in uptake and 18 now•m8ilèd to nearly 150 people per quorter. Collaboration We hav• partnered where possible with charltabla or88nlsAtlons with 81rn11gr oblecilves to raise ow8reness. stimulate nterest and 8ncour8ge actlve Involvement in minlstry. The developrnent olthe Momentum Yes ¢our8e and its proflllng. the Three Bllllon 8e8sonsTour and oureontinued partnershlp wlth the Global Connectlons network are 8xamples ofthis. Relieving need. hardship. sickness or poverty The company h8$ continued to 3UPPOrt 8 numberolchristians with rnedic81 quallficatlons whopr(Nld• medic•1 car8 among peoples olthe Arabworld. both in Africa and Asl8. The m?dlc81 care Is provided on th8 basls of neod. Payment fordrugs orte8t8 18 requested It P088lble. No other charges arn m8d•. The company has provided 8UPPOrt to Arab world Christians who have been dlscrimln•ted against on the basis of their faith. Ganerally thls is 8chleved through Chri8tl8n8 8UPPOrted by the company helping to provide escape Irom d8nger. 8dvi¢e on educational opportunitle$, and splTItU81 encouragement. The presumption would be against provlding money, so that the motlves of Christlans wlll not be calle(l into question. sn2
r4bwortdffllnlifry•t P&NEERS Advancing Christlan educatlon and training Th8 cornpgny hascontributed towards the dev•lopmènt of courses in a numbér ol languages forthose from theArab world who saek to discover morè 8bout the Chrlstl8n faith. It h8# also contributed tow8rd3 the development ot courses for Arob world Chrlstians who 8r8 developing their understandin8 of Christian teachlng. SO that they can. in tuin. teach othars. Help has 8150 been given to th•tr8lnlngoftho88 who wlllthen be more adequatelyequipped io develop Christian tr•ining mgi•rlo18 Sultable for use Jmong peoples of tho Arab world. 'Pioneers UK and Ireland. Our charlty contlnues in the 18test ¢h8Pter of our rlch mlsjlon history by Sntegratin8 further into the Ploneer8 famlly. Our UK mobllis8tlon off ices merge operotlonally on 1 July 2024. Our vlslon for Arab peoples Is stlll vgry much at tPJe h•art ol the objects wlthin the merged entity- Indeed our exl8tlng objects are contaln8d wlthln the naw entlty's oblects whlch wlll become known 89 Pioneers Ai•b World Mlni8trles UK •nd Ireland. Thls decl8lon 18 drlv8n by our belSef that our rnobillsation efforts will be enhanced through thls rnerg¢r- v4• eon$idar thls 8 gr•ai opportunlty to ¥•e the fullllment ol our objects among present and luiure benellciarles. In lator 2024 we wlll rngke this new¥ publlc omong the Christian public ond our supporters. includlng a re-brand and sefles ol sUPPOrter events to share our vbslon for the coming ye818. These will therefore be our last lull year 8cGount8 for'AWM'. The 'AWM' charltable entlty wlll continue to éxlst for a 3e8son tor praCc81 reèsons. Financlal Posltlon Ordln8ry gifts and donatlons to the gen8r81 fundwere 3.8 percent hlgherth8n In 2022, and the Ofganlsatlon was very fortunat• to see th8 frultlon ol some le8acies which saw E142.000 compared wbth £22,000 in 2022. The Trust88$ al8 eternally groteful for the generous Jupport Irom theif donors. The dlreciors are contlnulnito keep the level ofgeneral fund Incorne under revlowond ar• constantly pursulngnew ways ol raijing support within the UK. Glft$ and donations f•ceiv•d lor r•strlcted purpos•8 ro¥• by 12.8 per cent and hav• been exclu3lv8ly used forthe purposes expressed by the donor. Fundraising Fundr818lng contlnues to be revlevmd ag8ln$t the Code of Fundralsing Praetlce and In comrnunlcation with the Fundraising Regulator. Thls infoTm8tlon is updated toTTustees. We srrlve to respect and honour our supporterj wlth our fundroijlng ond are pl¢aJed to note our good fundralsing practices. IÉGUL4TOR We share our passion lor the re8ion and its people with ch¥rit8bie trusts as we communlcate the strategic need to mobilise the next generation of ploneers into thls wmrk. This is another key yource of funding where look to bulld and sustaln long.term partnership relaiionshlps th these key institutions. Th8 total funds received for 2023 throLt8h trust gfvlng was £45.00012022: £53,000). We undertake direct m8illngtoour 8UPPOrters andthis is a keysource for our donation income. Thls takes the form of 8 letterto approximately 1.000 $upwt¢rs on 8 qU8rterly b8St8th8nkingthem for th•ir8eneroslty. upd8tin8them on mlnlstry with encouraging stories ol how the work is progressing, and highlightlng other areas of need across the reglon. 6122
pieNEERS 128ta PIole.c.tlorLan(LGQEB We continue to comply with tho Dato Protection Act 2019 and Generel Data Protectlon Ragulatlons wlth key appointed staff and trustee members to help monltor our ongoing Tesponsibillties InllAstm.0nts Duringthe year we continued to hold investments through CCLA and re¢elved a satlstactoryamount of Income. Durlng the year the market valuation rose ¢ompored wlth the prevlou8 year end. Whllst the dlrectors hold the vlew that the investment5 are held for the long-term. as a means of gener8tlng Income. they are pleosed to see that Inv88tment values h8ve risen again following the larg9 fall in 2022. We continue to ensure those investment8 remaln ethlcal. Res.ery.es The majority of unrestricted fund819 traceable to the sale of surplus bulldlngs. and h8vlng completed the purchase of the new off Ices in 2020. the Trustee8 3UPPOrted other projects and are Gon3ideTing further projects to be financed out ofthe$e roserv?s for2021 onw8rds. The Charlty recogn18e8 that It h88 8 moral re8ponslblllty to malntaln the Incorne of certaln retlrod workers ot an 8cceptable level. and th1$ 1$ fundad out of general res8rves. Tot8lfunds held at the end ofthe yearwere £2.570,000 Restrlcted fund8 wer8 E1,166,000 and wnre r81sed for 8peclflc prolect8, workers or related expenses. De8lgnated funds were 2209,000 and con81st of amounts set aslde from general lund¥ for certaln prolecl¥ or workers. or for 8s¥istlng ovgr3eas workers wlih medlGal exp&nsa8. Othor unre8trlct&d funds amounted to E1,195,000, of whlch E453.000 was tled up In tlxed 88setS 8t the balance yheet (late. prlncipally the treehold offlces which the charity expects to occupy for the forgsegable future. The Bo8rd ha$ e$tlmated th8t an absolute minlmum 01 £190.000 would be requlred to wlnd up the charlty in an orderly way. Il all Income ceased. but 8lm3 to hold 8 18rger amount to ensure that operations gnd long-term prolects Can continue In splta ol tluctuations In income and p0881bl8 Investment rev81u£tlons, and to allow expansion ot activlties as opportunities arise. Re_lated P.arty_Tr_an&&c_tLons Durlng the year one dlrector w8s remunergted lor thelr servlce as an employee of th8 charltable compgny: detalls of this are shown in note 16 to the accounts. Th8r8 is also an amount due to 8 cornpanycontrolled bytwo of this company's dliectors, butwhlch has been dormant for over35 years. G_oinLC.QD.c_or.n The directors con8lder thattho cornpJny 1$ a golng ¢onGern and expectto be able to contlnue operations In 8 gultable w8y Into the Inrleflnlte future. Rl8k Management The Ch8rlty man8ges the admlnlstratlve 8nd fln8nclal rlsks common to organlsotlons of thls slze and complexity by using high quality IT systems and suitably qu81ilied personn81, advisers and investment m8nagers. Front-line charlty workers are selected wlth great care. and the chorlty places consltlerablg gmphasis on their career-long support and tr8ining. so that they can make their best contrlbutlon to the charlty's oblectlve8. 8nd to rnlnlmlse the rlsk to them and to th8 reputatlon 8nd 6ffèctlv8noss of thè Charlty. 7112
ol P,k*YEERS S_tatem9ntol Directors, Responslbllities The directors, who are also the trustees of the ch8rltable actlvlties for the purposes of eharlty 18W. 8re respon81ble for preparlng the dlrector8' report and f inancial 5tatem8nts in aecord8nce with generally applicable law end UK Accountingstandards l UKGAAP l. Company law requires the dSrectors to prepare fln8ncial statements for each flnancial year which give a true and faSr view of the state of offairs of the comp8ny and of the Incomlng reyources and appllcatlon of resources of the company for that p8rlod. In praparlng th88e statements. the dlrector$ are requlred to.. Sel¢cr $ult8ble accountlng polic18$ 8nd 8pplyth8m con818tently: Observe the method and prlnclple8 of the ch8ritle8 SORP., Make ludgments and estlmates th8t ara reasonable 8nd prudent: State whether applie8ble UKAccountlng Standards hove been followed. sublect to any materlaldepartures dlsclosed and explolngd In tho fln8nclal statements: Prepore the financl81 statements on the golng concern b8$18 unless It Is Inapproprlate to pr88ume th8t the company wlll contlnue In bu51nes¥. The dlrectors are responslble for keeping 8dequ8te accounting records that disclose with rea¥onable OCCUTaCy Ot any time the financial position the company end enable Ihern to ensure that the lin8nc1818tatements comply wlth the Companies Act 2006. They ore also responsible for 88fekeeplng the 888et8 ol the comp8ny ond henc• fortaking reasonable ¥tep$ lor the Prevention and dotectlon of tr8ud #nd other irrègularltie8. In so far as th8 directors are awore: There Is no relevant8udlt Informatlon olwhlch the company's audltor un8w8re: and The directors have taken 8118teps that they oughtto have t8k¢n to make th6mselv88 8W8re of any relevant Budlt Informatlon and to e8tgbllsh that the audltor 1$ aware of that Informatlon. The dlrectors are r88ponslblo for tha m8lnt8nance and Integrity of the corporat• and fln•ncl81 Information include on the company's website. Leglslatlon in th8 UK govemlng the preparation and dlssemlnatlon of finencS818tatem8nts may dlff8r f rom 18gisl8tlon in other lurisdlctions. These account8 havo been pr8pared In accordance wlth FRS102: Tha Flnonclal Reporting St8ndard appll¢abl8 In the UK and Republlc of Ireland l March 20181. Slgned on behalf of the Olrectors Phil Elam Date- 8n2
Pk3NEERS Ind8 andent Audltors, Re RL rt to the mem Oplnlon We have audlted the flnancial statements of Arèb World Mlni5trles for the year ended 31 December 2023, whlch comprlse the Statement of Flnanclal Actlvltles, Balance Sheet, Cash Flow Statement and the related notes. including a summary of s18nlflcant accountin8 policies. The financial reportlng frarnework that has been applied In their preparation Is Unlted Kln8dom Accounting Standards. comprisin8 Charities SORP - FRS 102 'The Financlal Reporting Standard applicable In the UK and Republlc of Ireland, and appllcèble law Iunlted Kin8dom Generally Accepted Accountlni Practlcel. In our opinlon the fSnanclal statements.. 81ve a true and falr vlew of the state of the charitable compan$ affalrs as at 31 December 2023 and of Its Incomlng resources and appllcatlon of resources, In¢ludin8 Its Income and expendlture, for the year then ended,. have been properly prepared In accordanc• w5th United Klngdom Generally Accepted Accountln8 Practlce; and have been prepared In Jccordance wlth the requlrements of the Companlès Act 2006. 8asl8 for oplnlon We conducted our audlt In accordance wlth Internatlonal Standards on Audltln8 IUKI11SAs IUKII and appllcable law. Our responslbllltles under those standards are further descrlbed In the Audltor's re5pon5iblllties for the audit of the financlal statements sectlon of our report. We are Independent of the charltable company in accordanee wlth the ethlc•l requlrements that are relevant to our èudit of the flnancial statèments sn the UK, IncludSn8 the FRC'S Ethlcal Standard, and the provlslons available for small entltles, and we have fulfllled our other ethlcal re5ponslbllltles in accordance with these requirements. We belleve that the audlt evldence we have obtainéd Is 5ufflclent and approprlate to provide a b•sSs for our opinion. Conelu8lon8 re18tlng to golng cxJnc8m In auditing the financial statements, we have concluded that the trustees use of the golng concern basls of accountlng In the preparatlon of the financial statements 15 appropriate. Based on the work we have pèrformed, we have not Identlfled any materlal uncertalntles relatin8 to events or condltlons that, indlvldually or collectlvelyi may cast $18nificant doubt on the charltable companvs ablllty to continue a5 a golng concern for a perlod of at least twelve months from when the financlal statements are authorlsed for Issue. Our responsibillties and the respon51bllltles of the trustees with respect to 8oinB concern are descrlbed In the rÈlevant sectlons of thls report. 9122
pNEERs Other inforniatlDn The other information comprises the Infofmatlon Included In the trustees, report. other than the financlal statements and our auditor's report thereon. The trustees are responslble for the other informatlon. Our oplnion on the financial statements does not Cover the other information and, except to the e)Etent otherwlse explicitly stated in our report, we do not expre55 any form of assurance conclusion thereon. In connection with our audit of the flnanclal statements, our responsibility is to read the other information and, in doln8 $0. conslder whether the other Informatlon Is materlally inconslstent wlth the financial Statements or our knowledge obtalned in the audlt or otherwlse appears to be materially mlsstated. Il we Identify such material inconsistencles or apparent materlal m15Statements, we are requlred to deterrnine whether there is a materlal mlsStatement in the flnanclal statements or a materlal mls5tatement of the other Information. If, based on the work we have performed. we conclude that there Is a material mlsstatement of this other information, we are required to report that fact. We have nothin8 to report In thls regard. Oplnlon on other matters prescrlbed by the Companles Act 2006 In our oplnlon, based on the work undertaken In the course of the audit: the Informatlon 8lven In the trustees, report, which Includes the dlrectors. report prepared for the purposes of company law, for the financlal year for whlch the financial statements are prepared Is conslstent wlth the flnanclal statements,. and the directors, report Included wlthln th• trusteès. report has been prepared Sn accordance with ppllcabSe le8al requlrements. M•tters on whlch we ale requlred to report by exceptlon In the li8ht of the knowledge and understandln8 of the charitable company and Its envlronment obtalned In the course of the audlt, we have not identlfied materlal mlsstatements In the dlrectors, reF)ort Included wlthln the trustees, report. We have nothln8 to repon In respect of the followln8 matters in relatlon to whlch the Companies Aet 2006 requlre us to report to you If, In our oplnlon: adequate and propor ac¢ountin8 records have not been kept, or returns adequate for our audlt have not been recelved from branches not vlslted by us.. or the flnancial statements are not In a8reement wlth the accountlng records and returns,. or certaln dlsclosure5 of trustees, remuneratlon specified by law are not made,. or we have not received all the Informatlon and explanatlons we require for our audit. or the charity has not kept sufflclent actt•untln8 record5: or the trustees were not entitled to prepare the financlal statements in accordance wrth the small companles re8lme and take advanta8e of the small ¢ompanles' exemptlon5 in preparing the trustees, report and from the requirement to prepare a strategic report. Aesponslbllltles ol twstees As explalned more fully in the trustee5' responslblllties Statement Iset out on page 81. the trustees Iwho are also the dlrectors of the charltable company for the purposes of company lawl are responsible for the preparatlon of the flnancial statements and for being satisfied that they 8ive a true and lair vSew, and for such Internal control as thè trustèes determine is necessary to enable the preparation of firtrancial 5tatement5 that are free from materlal misstatement. whether due to fraud or error. In preparin8 the financlèl statements. the trustees are responsible for assessin8 the charitable Company's abillty to contlnue as a going concern. diselosing, as applicable. matters related to goln8 concern and usrng the 80in8 ¢on¢ern basis of accounting unless the trustees either Intend to liquidate the charitsble company or to cease operatlons, or have no realistic alternatlve but to do 50. 10122
PNEERs Audltorfs responslbllltles for the 8udlt of the fln8n¢lg1 st8ternents Our oblectives are to obtain reasonable assurance about whether the flnanclal statements as a whole are free from materlal mlsstatement. whether due to fraud or error. and to Issue an audltorfs report that Includes our opinion. Reasonable assurance is a hi8h level of assuran¢e but Is not a guarantee that an audlt conducted in accordance wlth ISAS IUKI wlll always detect a material misstatement when It exlsts. Mlsstatements can arlse from fraud or error and are considered material If, indlvidually or In the aggregate, they could reasonably be expected to Influence the economic dec151ons of users taken on the ba515 of these flnanclal statements. A further descrlptlon of our re5ponslbllltles for the audit of the flnanclal statements Is located on the Flnanclal Reportlng Councll's webslte at.. www.frc.org.uvaudltor5respon51bllltles. Thls descrlptlon forms Part ofour audltorfs report. Extent to whlch the audtt w89 con8ldered capable of detectlng Irregularltl88. Sndudlng fraud Irre8ularitles. Includlng fraud, are instances of non-compllance wlth laws and re8ulatlons. We deslgn procedures In line wlth our responsibllltles, outllned above, to detect materlal mlsstatements In respect of Irre8ularltles, Includlng fraud. We identlfled and assessed the r15k5 of materlal mlsstatement of the flnanclal statement5 from Irre8ulaTltle5. whether due to fraud or error, and dlscussed these beeen our audlt team members. We obt•lned an understandlng of the legal and regulatory frameworks wlthln whlch the charitable company operate5, focuslng on those laws and regulations that have a dlrect effect on the determlnation of material mounts and disclosures in the flnancial statements. The laws and re8ulations we considered in this context were the Companies Act 2006. and the Charities Act together wlth the Charltles SORP IFRS 1021. We assessed the required compllar)ce wlth these law5 and re8ulatlon$ 83 part of our audlt procedures on the related flnancial Statement items. The extent to whlch our procedures are capable of detectlng Irregularltles. Includlnq fraud Is detailed below. In addltlon. we considered provlslons ol other laws and re8ulatlons that do not have a dlrect effect on the flnanclal statements but compllance wlth which ml8ht be fundamental to the charltable company's abllbty to operate or to avoid a materlal penalty. We also considered the opportunitles and Incentives that may exlst wlthln the charltable company for fraud. The laws and regulatlons we consldered in this context were the General Data Protectlon Regulatlon IGDPRI, Antl-fraud, bribery and corruptlon le8lslatlon, Taxatlon leglslation and Employment leglslatlon. Audltln8 Standards Ilmlt the required audlt procedures to Identify non-compliance with these laws and re8ulations to enquiry of the Trustees and other management and inspection of regulatory and le8al correspondence, if anv. Our audit procedures to respond to rlsks Included enqulries of management, In¢ludin8 senlor management, sample testlng on the p05tlng of entrles, In¢ludin8 journals. revlewlng accountlng estimates for biases. revlewlng re8ulatory correspondence wlth the Charity Commls51on. and readln8 mlnutes of meetlngs of those charged wlth governance. Owln8 to the Inherent Ilmltatlons of an audit. there is an unavoldable rlsk that we may not have detected some material mi$5tatements In the financial statements, even though we have properly planned and performed our audit in accordance wSth audSting standards. For example. the further removed non- compllanee wlth laws and regulations Ilrre8ularltiÈsl Is from the events and transactlons reflected in the finan¢lal statemènts, the less Ilkely the inherently limited procedures required by auditing standards would identify it. In addition. as with any audlt. there remained a higher risk of non-dete¢tion of Trrrtgularitles, as these may involve collusion. forgery, intentlonal omissions. mlsrepresentations, or the overrlde of Internal contrctls. We are not responsible for preventlng non<ompllance and cannot be expected to detect non- compliance wlth èll laws and regulatlons. iini
•r•b wwld 111ry•l PNEERs Use of our report This report Is made solely to the Charitable CompafTrV'S members, as a body, in accordance with Chapter 3 of Part 16 ofthe Companle5 Act 2006. Our audit work has been undertaken $0 that we mlght state to the Charitable Company's members and trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responslblllty to anyone other than the Charitable Company. the Chaf Itable Compan¢s members as a body, and the CharltJble Company's trustee5 as body, for our audlt work, for thls report, or for the oplnlons we have formed athan Russell Isenlor Statutory Auditor) For and on behalf of Just Audit & Assurance Ltd, Statutory Audltor 37 Market Square Witnev Oxfordshlre OX28 6RE Date.. 12122
STATEMENT OF FINANCIAL ACTIVITIES ¥b rnlrdmf•t (IncorportlTrg an Income and expenditure account) lor the year •nd•d. 3 1st Dec•mb•r 202J piaNEERS 2023 2023 Re5trlcted 2023 2022 2022 2022 Unrestricted Unr5rrfcred Res¢rl¢ctd R•f•r•nc• Notei Fundi Funds Tp¢31 Funds Jnd5 Incornt and endowm•nts from: Donations ind le8Kle5 Invesfmenu Other 495.694 4S.656 1.987,257 350 1482,951 4&C¥)6 3617e5 4Q045 1.760.347 1.401 1123.152 41.446 19.225 20 19.225 Tradni Attivities Toul 4,55S 4,555 7.529 7,529 550,905 1,987.607 153&512 429,584 1,761,768 1191,352 Ixpendltuv• . Raislng fvnds Charitable aetmties 105,307 750.295 11,702 105.307 2.446.285 11.702 108.728 no,403 10.1)62 108.728 2.394,075 10,062 1,695,990 1,673.672 GmInCe eoits Toul 867.304 1.695.990 L563,194 839,193 1.673,672 2.512,865 N•t Incom•l(•xp•ndltur•) Tr4vb¥hrs b4•n fufidl O¢h•r r•¢?1$•d lalns l (loJi•): Gain I Ilossl InAtnt islets (316.399 162,007 291.617 {161fy)n 124,7821 1409.6091 177.783 0&096 1177,7831 (J21.5131 110.678 110,678 1164.542 18.81n 1173.3591 N•t m•¥•m•nt In fvndi 143.7141 129,610 85,896 1396.368) 198.5041 1494,8ni E¥¢puonil ¢osts N•t Infom¢l(•xpenditur•) TOTAL FUNDS broughi lor*Ard TOTAL FUNDS c4rrSed forward 143.7141 1.447,829 129.610 1.036.208 85.896 2.484.037 {396,368} 1,044.197 198,5041 ,134.712 (4.8) 1978.909 1,404,115 1.165.818 2.569.933 I,H7,829 1,03&208 2.484.037 13122
Aestered In England and Wale5- No. 3275009 BALANCE SHEEr for th yv ndèd- 3 1st December 2023 PNEERs 2023 2023 2022 FIX Assets 453,017 1.367.045 471.020 1.256,367 In¥•stments IA20.062 i.n7,387 Cuyrnnt ass•ts 8an% & Buildini Soclety Cash ftoats- repr¢seAt•¥ves Stock 669.298 550 5.328 135.768 767.W 550 5.786 33.SSO Other Debtors & Pr¢p4yments 810,944 (61.073} 807,832 151,181) Cr•dlton: Amounu hlling du¢ wAthln gn• y¥r N•t Curr•nt 1•ts 749.871 7S6.650 Totsl Asséts le1 Curr•nt Ll•bllStles Cr•dlton: Amounu lalling due after one y¢ 2,569.933 2.484.037 14 Is N•¢ AM¢ts 2.569.933 2,484,037 Unr•strlct•d Fundi Unrestricted ndS Dulated Funds 1.194,986 209.129 1,204.59S 243,234 16 1.404,115 165,818 1.417,829 1.036.208 R¢stykt•d Funds 2.569,933 2.484.037 These accounts hw• b•ffi prwred lft a¢corthnc• FRS 102.. Th• Flmneial Reportinx Standird applKable in the UK Ind R¢publk of Irelaftd l March 20181. Hyd* oPtty•lv Ic)4 lil Elam Da IV Th• notes on th• lollomry p4•$ forn1 of the$¢ firanclal staternrA 14122
Alstered In England and Walts- No. J27SOOg STATEMENT OF CASHFLOWS •bMrld mlnlsty PI&NEERS for t y•v end•d- 3 1st Dec•mb•r 2023 2023 2023 2023 2022 2022 2022 Unrestricted FuTh05 Re5trirted Fund5 Lknrestritttd Re5tntr¢d Tofaj Fund5 Funds Totsl c flo Irom op¢ratlng actlvStl•i Net (osh prothd by (used in) oPerotin¥ octr 12BI.3091 136,853 1144,4561 1448,7241 1144.9511 1593,6751 Cuh I1 from Inv•stlnz Ktlv5tl•s DIVendS and intereit from inv¢sthients Proc••d5 from sal• 01 properry. l•ss ¢yenses Purcha$4 of egulpm¢n¢ Pro¢eds Irom sal¢ of inv¢stmw Purchise of inveSts Nrf cosh tyded by (used in) Opvothi ortfvTtyes 45.656 350 46.C#)6 40,015 1,401 41,446 11981 11981 54.C68 134.L8 45.808 19861 19861 134,0681 11,390 34,418 J9.059 1,401 40,460 cash Ilows from financlni •ctlvltl•s Repayrrent5 of borrowini Caihllows from n•w borrowlTrg Re¢eip¢ of •rQwMeThI Net ¢oJh prowtsd ty lujed fnunory othitse5 Chorye in tosh and t05h equiyolents in the year Cash •nd cosh eq¥lv•lents it the èrflnnini of ihe y•r Cosh ond coth ewivolents ot the end of the 1269,9191 167,614 1102,3051 171.171 6ts),882 772.153 198.6481 768.496 669,848 1409,6651 577.279 1143.5501 744,432 600,882 1553,2151 1,321,711 768,496 167.614 RECONCILIATION OF NET INCOMEI{EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES Net Incomellexpendltur•l for the y•r. nDm•l Exceptlon41 Adlvstments for.. Deprecl•tlontharyes (Gainslllosses on Investments Dlvldends. interest and rents frorn Inv•stm•nu Lossllprofltl on thesale al flxod a55ets Ilntre%1ldrSÉ tn stotks Ilrtcreaselldecrease in debtors In¢re•sellde<re•sel In Credr$ Net c•sh proyldtd by Ivs¢d 5nl oper•iini irtlvltles 143,7141 129,610 85,896 1396,3681 198.5041 1494,8721 18,201 1110,6781 145,6561 18,201 1110.6781 146,C#]61 23,320 23.320 164,542 140,0451 8.817 11.4011 173,359 141,4461 ijs01 4S8 458 79 198.0461 11,8741 1281,3091 14,1721 1101,2111 9,891 1144.4561 57,674 16,8061 147.0571 1144.9511 $0,868 1304,9831 1593,6751 11,765 136,853 1257,9261 1448.7241 ANALYSIS OP CASH AND CASH EQUIVALEprfs •ank balant•s 1102.8551 550 772.153 669.298 167,064 fjOO,B82 767.946 Cath floits Totul cosh und eush equrfents 550 SS0 550 1102,3051 7n.153 669,848 167,614 600,882 768,496 15122
NOTES TO THE ACCOUNTS for the year end•d- 3 1st D•c•rnr 2023 bw•nd ffllrhiryol PNEERs Accour¥tln¥ Polheles Accountlng Comentlon The accounts of the compary are pr¢par¢d under the historical cost ¢ty1¢Th, •xf¢pt for the r•vlu•don of invesrrnenu Ind freehold propercy and in accordane• StsterneTrt of Recommended Practice on k<gvntin¢ by Charity¢S ¥d FRS 102.. The Financial Reptsrtrti snord appliclble n the UK and Republic of Ireliro l Mir¢h 20181, rA incorpor•t• the resul1$ trl the prin¢ip•l a¢ties whith are describod in the Dke¢rors' Rewt and which tre continuini. Incom Donityorts ire a¢¢ouft¢ed for received by th• <orroary. Other in¢ome. includlry l•pcy IncrTh. Is •c¢ounted for ?Th Irb Kcruals balis so far •5 it Is prudent ind Prnd< to do . Income includes Tax recoverable. Lewl Lep¢ls af• accounted for on an ac£nJal basis so far ai li prud•nt to do io. Expendltur• Expendlturt 1$ 111out•d to th¢ r•l•vant cost Eat¢gory In 1ccord¢8 Internal kIlne$ iiw•d by th• charlty •nd Is ipwopriat• to th• us¢ deriwed from th¢ resour¢¢s. Grnnts Revenu• grints ar• cr•d4ted to th• Incom• ind •xp•ndi¢ur• attourt a5 r•c•W. tsnl•ii r•lat•d to 4 1p•chk pvlod, wh•n It li phc•d * r•scrbtt•d fund utll used. vll 74xatloh Th• ComnY pbtalned ¢h•rltbh status and is •raI ex•mpt from IrKorne tax and capital pons tax, bur nor Irom VAT. Irrecovernble VAT is Includ in th• rosi of those Itemi to it r•lat•5. vlil lThv•itm•nts Inytsrmenu are shTr it market value •nd re•lised plnj ind loss•s ir• tsk•n to th• incom• ind expendltur¢ 1¢¢oun¢ Inv•stm•nt incorne hai been uken Inr¢ account on th• 11$ of th• du• date tsl wymen¢ villl Depr•clatltsn Oepre¢Sat6on 01 ranilbll Islets li Prodd ic th• followlng ann[ rnt•i in ord•r to WT• tsff •ath •ss•t wr lu •s¢knar•d us•fv1 Ilf•.' Freehold wop•rd•5 2% strnhE Iln• mir Compui•r tyJSpm•nt 20 to 33.3% sty•lht Iln• Flxturts, Rtrffiy and equipment 10% & 2fA strath¢ Ilne BKyd• Salary sxrlficel At th• s•m• rt• as th• salary 5Krifir• Stock15 valu•d 1¢ th• Sthv•r of ¢osc ar#1 n¢t rdisaa 1•. D•b¢o Shorr rerrn debtori irn rno•iur•d it prlc•, lesi any lrnylnMnL Wh•r• li it conÉld•red doubthil that th•y wll b• yld, th• d•bt is wrltten-off by reduc1 the valu¥ of the debtorj withln the finincrdl sratqmen Credlt Credkort are revl•wed for r•a50nabhn•ss and ar• musur•d at th• tnns•Ekn ylc•. xli) Hlrn p•Jr¢h•s¢ •nd leaslni RtntJls applieable ro opernting Iu5•5 vthwe subswiialty ill of the benefits and riik ol ownqrship rwYHlns the Itisor are ch•ryd ipinst net ih¢omiftg rewurces on 4 strnht lin• hsii pver the luse renn. xliil P•nslon• The eompiny opernt•y i defined contrlbudon pension schem& Tho amount rhirpd to thÈ sraterneTht offinancial actyitits In respea of penion costs ar+d other post-retirement befiefits Is the amount payable in the y•ar. DThYtr¢ncu beTrn contribution3 payable rontyibuoon$ 4ctt#My paid in the year are shown as ither debEors or creditors in the balance shtÈL xivl Tr•nsf•r b•tw•en fundi ransfer from re5tritted fijnds" rela¢es to •dminiBtrntion chartes relatlng to the m•n•gem¢nt of rertdct•d incomini r•sourw. adjus¢ed for knd deficits between yeirs. xv> M•mb•r •M•ts When Methr5 PUhs th• are wrItn off In y•r. Rld• to Work Sch•m• Staff have the Option ro be parr ofa Ride to Work kh¢m that Is funded by 5acrif•. 1t•Tr ar¢ purchased *1 an asset and dyeclated # the same rxe as salary saCrce dedKtion5 are made. 16122
NOTES TO THE ACCOUNTS {contlnued)
for the year ended- 3 1st December 2023
¥r•b 11ry •
PNEERs
Unrestrirted
Rejtrthd
FuTrd5
Funds
Total
2022
DMatloDs and L¢D¢l•s
Gbfts & D¢N¥titsns
354.043
1.987.257
2.341,300
1.101.130
22,022
LeD¢l¢s
495,694
1.987.257
1481951
2,123.152
Lyaciei r•c•W aft•r th• linE• sh¢ dit¢ ID resp¢¢t of •itst ¥lruty in ailrninlJtrnth)n r• accru in tho b•lMc• sh•eL Other esUth5
in th•
NOTES TO THE ACCOUNTS (contlnu•d) for th• r ¢nded- 3 1st D•remb•r 2023 b ol PNEERs Unrestricted Funth Re5rfKtod Funds Total 2022 Governn¢e Costs Avdr( Trustoe5' •xpenxs &787 1915 &787 1915 8298 1.764 11.702 11.702 10.062 Tru5tees' expense5 relit¢ ¢0 w•v•l. offic• costs and publKity and were incurred on behawol the tholi board. N•t lfi¢•m¢ B•lorn Tranrf•rt The nrt IrK¢ming reJour¢e5 before frnnsfers Ire after chv¥lry.' Oeprecthtion of tany'E4e fixed 1s¥ Auditors. rernunerati Dlr•¢tvr%' r•Muntra¥fv I IncdIng &rployw'i Nl l { nor• 16) Suff cosu Inot• 81 2023 2022 1&201 &787 60.458 H9.598 23.320 .298 60,756 437,H5 Staff C•th (Includlni dlr¢ctorJ) 2023 2022 larl•i 429.486 37.434 43,136 41&479 38.803 42.919 Employers N•cvnl Insurane• Pensiofi Contrlbutlon5 510,056 498.201 The ivewe nvmbor ol stsff (IrUdIng dir•ctornl •mploy•d by th• Ehirity during th• y•r was is lollu.. 2023 2022 MSssion & Supptsrt Manaiem•nt & Adrninlsrrltlon Ert•mil R•lauonshlps & fundv4iil 17 Nts employee wai pakl In exce55 of £60,OK Staft penilon contrlbudons ouuunthThg ar the yr end ww• £3,81812022.' £3.4111. In addirjpn co employe•s there wer• 18 rn•mhr5 •¢ the nd of Dttember 2023 (2022.. 11} Tthos• py is pro¢ey¢d throuth the Chlrw's payroll bur tho are Totslty dep•nd•rt ori sVPPOrt they Alse k*r their s•tsrieJ. These cosu ar• the r4swl¢ted all0rIte (rte 51. 18122
NOTE$ TO ThE ACCOUNTS (condnu•d) tor the yev ended - 31rt D•cember 1023 thfnl¥try • PknYEERS Fixed A¥5•ts Fr•eh4ld Fixwr# & Compu¢¢r Equipment Toul PropertYéS Finn C05tlValuitlo11 As at lstlanuary 2023 Addruons 482,383 23,085 57.646 563.114 198 Dlsposth 15.0321 15.1841 A5 at 31$¢ DKtmber 2023 482,383 52.614 55&128 Ac¢umul•ted depr•datlon As 4t 1ST lnuary 2023 Chirg• for the y•ar Depreciatlon on disposals 28.944 14,869 48,281 &647 15,0321 18.201 15.1841 As a¢ 31sr Decornb•r 2023 38,592 16.623 49,896 Net book YU Ai it litliryjary 2023 As at 31it D•cemb•r 2023 453,439 8.215 4x17 9.365 471.020 4S3.017 443.791 2,719 All of ¢ht above ass¢ts Ir¢ us•d ¢0 furthw the Chirltli oty•tts. Cpitl tommltrnents it the end of the ytir wer• £nll12022.. nll l. In 2019 the ¢ryny purchai•d a frqehold bvSldth8 for rts own yi•, •t • ¢oit of £432.780, and inc¥rr•d further ¢tr In 2020 b•for• occupyln8 Ic as Irs h¥dqu•rt•rs. 10 In¥•rtm•nt In¥•irmÈnts are held prlrnarlfy to provld• in lrtY•stm•n¢ r•Eurn lor th• ¢hiriry. The market value ol the portfollo is de10¢d by rtferen¢e w irbvestment manwrs, r•pwts. I Pordollo SunMn•ry Uthrtstri¢ted Aesvi¢ted Funds 2023 2022 Fu5 Mark•t Valu• at l5rl1nu 2013 Purchas•s Ind 115 822.299 34.068 110,678 434.068 134.068 1,256.367 1.429.726 Ga¢n I IL0551 pn r•valuaiign 110.678 1173,3591 Mirk•t value at 31st D•o•mb•r 1023 967,045 1,367.045 1,256.367 The malorlty of InvestrneTrts coniis¢ •f div•ri• 10110$ of Invwtm•nt lundi min4•d CCLA Irsvestment Man¥•ment Ltd. Th¢ Restricted hJTrd iFwwtm•nu rIty a l•pcr In a rnernber has • long tem int•rert in the In<0m•. 2 IStMe Pollcy The coryany's Inv•$tm•rt ptsllty aims ro prod¢ long t•rm caplral gro topth•r wbth a r•a50nablo inEtsm•. 19121
NOTES TO THE ACCOUNTS (tontlnued) for th• year end•d- 3 1st D•¢•mb•r IQ23 410 rnkn1stry•l PBNEERS Stock 2023 2022 Li¢•ra¢ur• stock for r¢s•lt S.328 5.786 Other Debtors Lepc$ Gift Aid 105.0(x) 15,869 14.699 135.768 18,066 15.484 33,550 Pr•pyrnen Credltors.. Amounts lalliry due wthin y•tr Transmissions l•fi¢S & Wag•x Credlto A¢¢ruals Creditors Workers, Peftsion FuTh41 10.214 6,206 10.661 19,563 14,428 10.467 5,746 10,J30 22,229 2.410 61.073 51.182 14 Crndltopi.. Amounrs hlNn8 du• aftLY oThe tr Oth•rs 15 Analy5 ol Net AJi•ts 8•rw••n Fundi Unreswlcthd FdI RtrIcted Fundi Totsl Totsl 2023 2022 Fixed Asieu Invutments 453,017 967,045 20.484 {36.4311 453.017 1,367.OlS 810.9H 161,0731 471,020 1,256,367 807.832 151,182} 400,rJJo 790,460 (24.6421 Current Curr•nt Lthbiliues Ltsnt T•rrn Liibilitl*s N•1 l•U 1,401,115 1,165,818 1569.933 2,484.037 20122
NOTES TO THE ACCOUNTS (contlnued) for th• ended- 3 Igt Dee•mb•r 2013 PENEERS Analysls of Funds 8kn¢e 1.1.1023 Transf•rs I Balan IrKome E¥pendiwr• Adjustment 31.12.2023 Rostrlct•d Funds Eduearion l HuNnitarii Media 137.461 3.901 52,628 36.286 8.$06 104.616 44.S69 278,408 18.770 4,082 (43,8161 42,2751 18,70T) (27,4041 14,3521 (6.55TI 14,45T) Iiin81 12431 1408 191.704 1,738 99.601 27,409 7,828 Nitionil Workers Other l Reliel UK Prqects 238,782 450.445 {336,S541 124.393) 328.280 Non UK 53,509 743,917 40.304 1,496,8S8 147,610) 11.5491 113&0651 44.654 792.884 UK 797.426 1,537,162 11.359,4361 1137.6141 837.538 Total A•itrSrt•d Funds 1.036.208 1,987,607 1.695.990) {162,oon 1,165,818 Dwlinat•d Punds Medical Fund 24.038 757 (57.3291 110.5701 46,688 IIIK2) 13,397 121.9631 UK Miniitrles UK House d Refu8• ODFC Oonatlpn Fund 812 20.0 83.838 20,too 83,838 113.BS7 Ar•b Work•n Rryional Exp•hsion Funds (7441 Total D•ilqnt•d Fund• 243.234 812 168,6431 33.n6 209,129 G•n•r•l fuoMIs G•n•ral Fund 1,204.595 660,ni (798.6611 128.281 1,194.986 Ttst•l G•n•ral Fundi 1.204.595 660.771 r198.6611 128.281 1,194,986 Overnll Totsl Fund¥ 2.484.037 2.649.190 12,563,294) 2.569.933 Bahnce 8ahn¢e J 1.12.2021 Prlor Y••r 1.1.2022 Incom• Exp•ndlDJr• Transf•rs Totsl RestrS¢¢ed Funds Totsl DÈJignited Fvnds Totsl Genenl Fur9 .752.951 1,063 263,979 2.017,993 11.673.6ni 143.919) (795.274} 12,S12,8651 1177,7831 3&443 139.340 I.OJ&208 243.234 1,204.595 2.484,037 247,647 l.S96.550 2.978,909 Qvevll Totsl Fundi Restrlrted Funds The charity rnalnEalns a Aumber of restricted fundi whl¢h ar• ill incom fiJnd5 and ¥• disslfied as foNgws: Pvg1•¢ts Thtte are charlt•Ne acti¥itie5 of th? mission o¥•r arbd abuve the rewnslbifitjes of indNJval worker5. Donldons ar¢ re¢••d for th•5• purpose5 ind held in these fund5. M05f of th¢ fvndi (including all larger lund51 are pld out kn full •xh month ro th• mamag•rs of thos• funds Ind account•d for •15vth• 21122
NOTES TO THE ACCOUNTS {contlnued) for th year ended- 31rt Dee•mb•r 2023 PI8NEERS Support Thesè lunds are used for th• accomrnodatytsh and Eentrdl lfvlng ¢xpen$4s of workers both In th• UK and abroad. Included within rhest lunds Are im¢yfttS ¢0 enable the workers to è5tab1$5h themselves in their place of ministry and to cover the costs of performinK their mir115try. D$18nrt Funth The De¥iIni fvnds are rnounts Set aside Irorn zqneral lund5 tp suppon spe¢ffie UK minlsfry projects. and to fund rnedical exp•n5e5 OVtrse¥s. UnspEnt reserves from fund5 designated In 2021 to as51st the rcruitmwT Ind Training of workers In or lor thè Arab world rpmzln d•si8nated for luwre fralfilng wrposes. TranMrtloni wlth Trus¢••¥ Durini the year the ChIrY yld the folhwing irnounts of rernunoridon to trust4es and dlrecrorn of the company. Such r•munorndon 15 perrnitt•d und•r th• M•m¢4randum and Arrlcles of Associarbn whlch allows lor no¢ more (han w third ol th• tru5t••i to be r•munent•d. Th• Jalary and p•n5i%M con¢ribudoAs w¢r• pild by vlrtue ol th•lr duti•s as •mploy••s I It dlff•r•Th< p•rtods l gf the charabl¢ company ind not In r•spect of th•lr duti•s is rrust4¢1. E¥ws•s in¢urred on b•hats olth• Brd of Truste•s ir dlsclo$4d In not¢ 6. Th•re w•r• n? oth•r traThixtions wrth th• trui¢tts which r•quir• separate discloAure within th• fiNnclal itattynenrs. 2023 2022 MrPEhm Salary. th¢ Emp Nl P•n3lon Contrlbudon 54,260 6.198 54,558 6.198 To1 60,458 60,756 Commltm¢nts During 2023, the Charity pid £1766 under operitlnK l••s•s of •qulwr•nL AJ it 31 Dec•mb•r 2023. th• Charlry Nv4s ¢ommlrted ¢0 futur¢ nonrfanc•llabl• opqratiry l•*i•i ptymmts ai h110.. hyable w4th1Th l year Payable In 2 to 5 y•ars Payabl• lit•r 1272 19,328 27.600 Contyol CoA¢fo1 of th• tharty Is vest•d kn the board of Dir•ct0rs. 20 Oth•r Incom• Othv incorne consists ol ta5h rtt•i¥ed In respea of HMRC'S employm•nt allovr4nce. 2Z122