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||Page|
|---|---|
|Reference and Administrative
Details ofthe Charity, its Trustees and Advisers|1-2|
|Trustees' Report|3-9|
|Independent
ixaminer's
Report|10-11|
|Statement
of Financial Activities|12|
|Balance Sheet|13|
|Statement
of Cash Flows|14|
|Notes to the Financial Statements|15-28|
##
##
|Key management|personnel|personnel|||||||
|---|---|---|---|---|---|---|---|---|
|Trustees|||||||||
||||8 C Rossington|(Chair)|||||
||||D TBaetz|||(appointed|19November|2021)|
||||T Basupi|||(appointed|21September 2021)||
||||D M Davis|||(resigned|21September|2021)|
||||W A Ewing|||(resigned|17November|2021)|
||||LJ Fast|||(resigned|16June 2021)||
||||P H F P Feniman||||||
||||M R Ganga|||(resigned|17November|2021)|
||||L V Hindley||||||
||||R L Maples||||||
||||D Pate|||(appointed|21September 2021)||
||||G Pietersen|||(resigned|16June 2021)||
||||R KThiel||||||
|Senior management||personnel|J A Barry||||||
||||P J Everingham||||||
||||KJ Lewis||||||
||||W L Middleton||||||
||||R KThiel||||||
|Company registered||number|3371166||||||
|Charity registered|number||1062847||||||
|Registered office|||Scott Place, Unit||E||||
||||Abbey Wood Business Park||||||
||||Emma-Chris
Way||||||
||||Filton||||||
||||Bristol||||||
||||83347JU||||||
##
##
|Independent|examiner|Jonathan
Merchant|Jonathan
Merchant|Jonathan
Merchant|FCA|FCA||
|---|---|---|---|---|---|---|---|
|||Mazars
LLP||||||
|||Chartered
Accountants||||&Registered|Auditors|
|||90Victoria|Street|||||
|||Bristol||||||
|||8516DP||||||
|Bankers|UK|HSBCBank|pic|||||
|||Grosvenor
Court||||||
|||149Whiteladies||Road||||
|||Bristol||||||
|||858 2RR||||||
|Bankers|International|Bank of America||||||
|||2727 South|48th|Street||||
|||Tempe||||||
|||AZ 85282 USA||||||
|Solicitors||Tozers LLP||||||
|||Broadwalk|House|||||
|||Southernhay|West|||||
|||Exeter||||||
|||EX11UA||||||
|Investment|manager|Merrill||||||
|||225 Liberty|Street||41st|Floor||
|||New York||||||
|||NY 10281USA||||||
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|||||Restricted|Unrestricted|||
|---|---|---|---|---|---|---|---|
|||||funds|funds|2021|2020|
||||Note|f|f|f|f|
|Income||||||||
|Donations
and gifts|||2|168,185|98,445|266,630|393,935|
|Income from charitable
activities|||2||337,401|337,401|158,317|
|Investment
income|||2||33,011|33,011|7,435|
|Total income||||168,185|468,857|637,042|559,687|
|Expenditure||||||||
|Expenditure
on charitable|activities||3|232,316|343,726|576,042|765,789|
|Total expenditure||||232,316|343,726|576,042|765,789|
|Net income/(expenditure)||before||||||
|gains / (losses) on investments||||(64,131)|125,131|61,000|(206,102)|
|Net gain / (loss) on investments|||||187,967|187,967|95,411|
|Net income /(expenditure)||before transfers||(64,131)|313,098|248,967|(110,691)|
|Transfers
between
funds|||11,12|(12,929)|12,929|||
|Net income / (expenditure)||and net||||||
|movement
in funds for the||year||(77,060)|326,027|248,967|(110,691)|
|Reconciliation
offunds||||||||
|Total funds at the start of|the year|||277,012|2,147,111|2,424,123|2,534,814|
|Total funds atthe end of|the year||13|199,952|2,473,138|2,673,090|2,424,123|
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|||||31December 2021|31December 2021|31December 2020|
|---|---|---|---|---|---|---|
||||Note|6|6|6|
|Fixed assets|||||||
|Intangible
assets|||||134,833||
|Tangible assets|||||575,597|574,559|
|Investments|||||1,388,270|1,133,114|
||||||2,098,700|1,707,673|
|Current assets|||||||
|Debtors|||9|55,589||123,053|
|cash at bank|and in hand|||558,772||609,262|
|||||614,361||732,315|
|Creditors|||||||
|Amounts
falling due within||one year|10|(39,971)||(15,865)|
|Net current assets|||||574,390|716,450|
|Total assets|less current liabilities||||2,673,090|2,424,123|
|Net assets|||||2,673,090|2,424,123|
|Charity funds|||||||
|Restricted
funds|||11||199,952|277,012|
|Unrestricted|funds||12||2,473,138|2,147,111|
||||||2,673,090|2,424,123|
##
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|||||2021|2021|2020|2020|
|---|---|---|---|---|---|---|---|
|||||6|6|6|6|
|Cash flow from operating
activities||||||||
|Net movement
in funds|||||248,967||(110,691)|
|Add: Amortisation
of intangible
assets||||||20,628||
|Add: Depreciation
of tangible assets||||447||626||
|Less: Interest (included
in investing|activities)|||(33)||(243)||
|Less: Foreign exchange rates||||(26,569)||34,861||
|Less: Investment
revaluation
gain||||(187,967)||(95,411)||
|Add: Investment
portfolio charges||||13,756||9,416||
|Decrease/(increase)
in debtors||||67,464||(5,442)||
|Increase / (decrease)
in creditors||||24,106||(16,786)||
||||||(108,796)||(52,351)|
|Net cash inflow / (outflow) from operating|||activities||140,171||(163,042)|
|Cash flows from investing
activities||||||||
|Purchase of intangible
assets||||(134,833)||||
|Purchase of tangible assets||||(1,485)||||
|Purchase of investments||||(223,134)||(185,457)||
|Proceeds from sale ofinvestments||||163,337||420,750||
|Interest received||||33||243||
|Net cash inflow/
(outflow) from investing||activities|||(196,082)||235,536|
|Net change
in cash and cash equivalents|||||(55,911)||72,494|
|Cash and cash equivalents
at the start ofthe|||year||609,262||546,071|
|Change
in cash and cash equivalents|due to|||||||
|exchange rate movements|||||5,421||(9,303)|
|Cash and cash equivalents
atthe end ofthe|||year||558,772||609,262|
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||||||||Restricted|Restricted|Unrestricted|||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||funds|funds|2021|2020|
|||||||||E|f|E|f|
||Income from donations||and gifts|||||||||
||Donations
and gifts||||||168,185||98,445|266,630|393,935|
||Income from charitable||activities|||||||||
||Member allocations||||||||275,072|275,072|89,244|
||Conference, training,|||IT&support||income|||62,329|62,329|69,073|
||||||||||337,401|337,401|158,317|
||Investment
income|||||||||||
||Rental income||||||||10,052|10,052|7,192|
||Sundry mcome||||||||22|22||
||Interest received||||||||33|33|243|
||Exchange gains||||||||22,904|22,904||
||||||||||33,011|33,011|7,435|
||Total income||||||168,185||468,857|637,042|559,687|
||In 2020 income of f200,484 was attributable||||||to unrestricted||funds
and f359,203 was attributable
to|||
||restricted
funds.|||||||||||
|||||||||||2021|2020|
||Income ana lysed geographically||||was|as follows:|United|Kingdom||25%|31%i|
||||||||Europe|||||
||||||||Rest ofthe World|||75%|69%|
|3.|Expenditure|||||||||||
||||||||Restricted||Unrestricted|||
|||||||||funds|funds|2021|2020|
|||||||||f|f|f|f|
||Expenditure
on charitable|||activities||||||||
||Direct chantable|expenditure|||||232,316||151,028|383,344|506,701|
||Governance
costs||||||||17,320|17,320|9,987|
||Support costs||||||||175,378|175,378|249,101|
||Total expenditure||||||232,316||343,726|576,042|765,789|
##
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|Net income|/ (expendi|ture)
is stated after charging:|||
|---|---|---|---|---|
||||2021|2020|
||||E|6|
|Amorusation||||20,628|
|Depreciation|||447|626|
|Independent|examiner's|fee|3,54D|3,540|
|||||Restricted|General|Designated|||
|---|---|---|---|---|---|---|---|---|
|||||funds|fund|funds|2021|2020|
|||||E|E|f|E|6|
|Directorate||travel and|activities||11,145||11,145|16,929|
|Consultant||travel and|activities||31,295||31,295|35,233|
|Meetings,||conferences|and training|4,162|6,116|6,395|16,673|33,498|
|Ministry|and outreach||support|226,271||30,718|256,989|326,931|
|Development
activities||||1,883|25,180|40,179|67,242|94,110|
|||||232,316|73,736|77,292|383,344|506,701|
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||||Restricted|General|||
|---|---|---|---|---|---|---|
||||funds|fund|2021|2020|
||||||E|E|
|International|Council meeting costs|||13,780|13,780|6,447|
|Independent|examiner's|fee||3,540|3,540|3,540|
|||||17,320|17,320|9,987|
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||||Restricted|General|Designated|||
|---|---|---|---|---|---|---|---|
||||funds|fund|funds|2021|2020|
||||f|f|E|f|f|
|Staff costs||||113,715||113,715|121,779|
|Ca-operative|support|||1,898||1,898|2,939|
|Residency and housing||support||9,093||9,093|8,668|
|Insurance
and|busmess|rates||5,873||5,873|5,624|
|Property repairs and maintenance||||2,626||2,626|1,565|
|Office running|casts|||5,498||5,498|5,271|
|IT, communication
and||printing costs||21,842||21,842|25,568|
|Amortisatian|and impairment||||||20,628|
|Depreciation||||447||447|626|
|Bank and portfoko charges||||14,386||14,386|10,054|
|Exchange losses|||||||46,379|
|||||175,378||175,378|249,101|
##
|Staff costs during the year were as follows:|||
|---|---|---|
||2021|2020|
||f|f|
|Salaries and wages|98,519|106,250|
|Sacial security costs|6,214|6,975|
|Pension costs|8,982|8,554|
||113,715|121,779|
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||Assets in|Software||
|---|---|---|---|
||the course|development||
||ofconstrue'tlon|costs|Total|
|||f|f|
|Cost||||
|At 1January 2021||206,277|206,277|
|Additions|134,833||134,833|
|At 31December 2021|134,833|206,277|341,110|
|Amortisation
and Impairment||||
|At 1January 2021||206,277|206,277|
|Charge
in the year||||
|At 31December 2021||206,277|206,277|
|Net book value||||
|At 31December 2021|134,833||134,833|
|At 31December 2020||||
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|Tangible fixed assets|||||
|---|---|---|---|---|
||Properties|&|Computers
&||
||improvements||equipment|Total|
|||f|f|f|
|Cost|||||
|At 1January 2021|574,194||4,617|578,811|
|Additions|||1,485|1,485|
|At 31December 2021|574,194||6,102|580,296|
|Depreciation|||||
|At 1January 2021|||4,252|4,252|
|Charge
in the year|||447|447|
|At 31December 2021|||4,699|4,699|
|Net book value|||||
|At 31December 2021|574,194||1,403|575,597|
|At 31December 2020|574,194||365|574,559|
##
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|Fixed asset investments||
|---|---|
||Listed|
||securities|
|Market value|f|
|At 1January 2021|1,133,114|
|Additions|223,134|
|Disposals|(163,337)|
|Portfolio charges|(13,756)|
|Revaluation
gain|187,967|
|Exchange rate loss|21,148|
|At 31December 2021|1,388,270|
##
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||||2021|2020|
|---|---|---|---|---|
||||f|f|
|Due within one year|||||
|Other debtors|||251|28,979|
|Prepayrnents|and accrued income||55,338|94,074|
||||55,589|123,053|
|Creditors: Amounts||faging due within one year|||
||||2021|2020|
||||f|f|
|Other creditors|||30,925|9,442|
|Accruals and|deferred|income|9,046|6,423|
||||39,971|15,865|
||||Deferred|
|---|---|---|---|
|An analysis ofthe movement|in deferred|income during the year was as follows;|income|
|At 1January 2021|||273|
|Resources deferred
during the year||||
|Amounts
released from previous years|||(273)|
|At 31December 2021||||
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|||Brought||Incoming|Resources|Resources|Transfers|Transfers|Transfers|Carried|
|---|---|---|---|---|---|---|---|---|---|---|
|||forward||resources|expended||in|/ (out)||forward|
|||f||f||f|||f|f|
|African Missionary
Assistance||40,438||53,367||(46,614)||||47,191|
|COVID-19 Member Assistance||898||||(668)||||230|
|Famine Relief & Crisis Response||145,688||37,171||(87,189)||||95,670|
|International
Strategic Outreach||11,287||17,139||(25,718)||||2,708|
|Majority World Missionary|||||||||||
|Assistance||57,472||17,777||(25,511)|(12,929)|||36,809|
|National
Leaders Ministry|Fund|1,494||675||||||2,169|
|Support
Funds||10,032||41,849||(39,442)||||12,439|
|TIMO Development||9,703||207||(7,174)||||2,736|
|Restricted funds||277,012||168,185||(232,316)|(12,929)|||199,952|
|Description of restricted|funds||||||||||
|African
Missionary
Assistance||- for providing|financial assistance||to African missionaries.||||||
|COVID-19 Member Assistance||- to assist members||whose support||has been impacted||by|COVID-19.||
|Famine Relief & Crisis Response||- to be used
in|response to famine||or any other crisis.||||||
|International
Strategic Outreach||- to offer outreach||assistance to various proiects.|||||||
|Majority World Missionary|||||||||||
|Assistance||— for providing|financial
assistance||to majority world||missionaries.||||
|National
Leaders Ministry|Fund|— for providing|assistance to national|||church leaders.|||||
|Support
Funds||— for providing|assistance for members
who are employed||||||by ASI.||
|TIMO Development||- for costs relating||to development||ofthe TIMO training||programme.|||
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|||Brought|Incoming|Resources|Transfers|Gains /|Carried|
|---|---|---|---|---|---|---|---|
|||forward|resources|expended|in /(out)|(losses)|forward|
|||E|E|E|E|E|E|
|Designated|funds|1,404,292|2,893|(77,292)|152,929||1,482,822|
|General fund||742,819|465,964|(266,434)|(140,000)|187,967|990,316|
|Unrestricted|funds|2,147,111|468,857|(343,726)|12,929|187,967|2,473,138|
||Brought|Incoming|Resources|Transfers|Carried|
|---|---|---|---|---|---|
||forward|resources|expended|in / (out)|forward|
||E||E|E||
|African Member
Health Insurance|37,394||(1,705)||35,689|
|African Member Support|39,814||(28,613)|12,929|24,130|
|CHARIS
II Project|165,854||(9,860)|140,000|295,994|
|Contingency
Fund|259,024||||259,024|
|COVID-19 Assistance|116,708||||116,708|
|International
Capital Property|574,194||||574,194|
|Mobibsation
Grants||||||
|OFM /AIM Stories Grant|4,722|2,283|||7,005|
|Vision 20/20 Funds|206,582|610|(37,114)||170,078|
|Designated
funds|1,404,292|2,893|(77,292)|152,929|1,482,822|
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|||Restricted|Unrestricted|||
|---|---|---|---|---|---|
|||funds|funds|2021|2020|
|||E|E|E|E|
|Intangible|assets||134,833|134,833||
|Tangible assets|||575,597|575,597|574,559|
|Investments|||1,388,270|1,388,270|1,133,114|
|Debtors|||55,589|55,589|123,053|
|Cash at bank and in hand||199,952|358,820|558,772|609,262|
|Creditors due within one year|||(39,971)|(39,971)|(15,865)|
|||199,952|2,473,138|2,673,090|2,424,123|
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|||At 1||Foreign|At 31|
|---|---|---|---|---|---|
|||January|Cash|exchange|December|
|||2021|flows|movements|2021|
|||E|E|E|E|
|Cash|and cash equivalents|||||
||Cash|609,262|(55,911)|5,421|558,772|
|Borrowings||||||
||Debt|||||
|Total||609,262|(55,911)|5,421|558,772|