Charlty number: 1062847 AFRICA SERVICES INTERNATIONAL Africa Services International Registered number: 03371156 Trustees, Report and unaudited Financial Statements For the year ended 31 December 2024 •AEC7CXWH* 3010912025 COMPANIES HOUSE A79
AFRICA SERVICES INTERNATIONAL (A Company Limlted by Guarantee) CONTENTS Page Reference and Administrative Detalls of the Charity, its Trustees and Advisers Trustees, Report Independent Examiner's Report io-ii Statement of Financial Activities 12 8alance Sheet 13 Statement of Cash Flows 14 Notes to the Financial Statements 15-29
AFRICA SERVICES INTERNATIONAL {A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the yeor ended 31 December 2024 Key management personnel Trustees D T Baetz T Basupi P Chian8 T W Cook (Chalrl P H F P Feniman A K Mahmoud R L Maples C McDougall D Pate H S Shepherd A P Swanson R K Thiel A R Thlessen (resigned 30 November 20241 lappolnted 12 June 20241 (resigned 12 June 20241 (appointed 26 January 20241 (resigned 31 March 202SI (appointed 12 June 20241 lappolnted 31 March 20251 Senlor manaBement personnel P J Everlngham KWHart W L Middleton L Metz M Pugh Z Seid R KThiel Company reglstered number 3371156 Charlty reglstered number 1062847 Reglstered office Scott Place. Unit E Abbey Wood Business Park Emm3.Chris Way Filton Bristol BS34 7JU
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) REFERENCE AfrID ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the year ended 31 December 2024 Independent examiner David Hoose, Forvis Mazars LLP Chartered Accountants & Registered Auditors 90 Victoria Street Bristol BSI 6DP Bankers UK HSBC 8ank plc Grosvenor Court 149 Whiteladies Road Bristol BS8 2RR Bankers Internatlonal Bank of America 2727 South 48th Street Tempe AZ 85282 USA Solicitors Tozers LLP Broadwalk House Southernhay West Exeter EXI IUA Investment manager Merrill 225 Liberty Street 41st Floor New York NY 10281 USA
AFRICA SERVICES INTERNATIONAL (A Company Llm5ted by Guarantee) TRUSTEES, REPORT For the yeor ended 31 December 2024 The Trustees (who are also the directors of the Charity for the purposes of the Companies Act) present their annual report together with the independently examined financial statements of Africa Services International I'ASI" or "the Charity") for the year ended 31 December 2024. The Trustees conflrm that the annual report and flnanclal statements of the Charity comply wlth the current statutory requlrements, the requlrements of the Charlty's 8overning document and Accountlng and Reportlng by Charltles: Statement of Recommended Practice applicable to charities preparing theSr accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20151. Purpose. objectlves and activltles ASI exists as a charity for the purpose of providlng leadershlp and administration to a group of Independent charities that co-operate together under the orgènlsational name of AIM International. These charities include MoblllsSng Or8anisations that mobilise personnel to accomplish the stated 8oal of the larger organisation. Go and make disciples of all nations, baptlsing them in the name of the Father and the Son nd ofthe Holy Splrlt, and teaching them to obey everythlng I have commanded you." In setting oblectSves and planning activities, the Trustees have glven due consideratlon to 8eneral guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public benefit guidance on The Advancement of Reli8ion for the Public Benefit. Achlevements and performance ASI'S Board of Trustees met two tlmes, in person, In June and November of 2024. In addltlon to revlewing the stated ends of the organlsation and receivlng reports on the progress towards those ends, the Trustees be8an to apply the constltutional changes re8ardSn8 AIM International's doctrinal statement which were ratified by the members and adopted by the organisation. In November 2024 the Board of Trustees proposed that the new AIM International Director be Dr M Jones and the members ratlfied this decision in March 2025. Dr M Jone5 will commence hi5 term of servSce In January 2026. succeeding Dr R K Thiel who will step down as International Director at the end of 2025. The B03rd of Trustees also approved the formation of a new mobilisation committee in Madagascar and the Ethiopian mobilising office was formally placed under the direction of AIM Eastern Region. The Board of Trustees continued to monitor AIM Internatlonal's progress towards Its stated ends, the risk environment, and its financial position, through executive limitation reports presented to them by the International Dlrector throughout the year. In October 2024, the Board of Trustees received a formal grievance agalnst the International Director. They concluded that AIM International's pollcSes had not been properly followed in relation to a personnel matter. As a result, the Board of Trustees directed the International Director to review and revise relevant policie5. and to meet with the different AIM International offices involved to seek to resolve the grievance. This process has now been concluded to satisfaction of the Board of Trustees.
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) TRUSTEES. REPORT (continued) For the year ended31 December 2024 Achlevements and performance Icontlnuedl The Board of Trustees continues to lead AIM International under the followln8 ends statement: In dependence on the groce and power of the Lord, in partnership with African churches, with priority for unreochedpeople groups.. churches oround the world moblllzedfor mlsslons, mi55ionoriesfrom diverse cultures equipped, sent and supported, the gospel proclaimed, disciples mode. church leaders trained. ond Christ-centred, reproducing. culturolly-upproprlate churches formed among Africon peoples. Specific sub-ends of the Charity include the training of African church leaders, mobilisin8 of African missionaries. invitlng Afrlcan mlsslonarles Into AIM Internatlonal's membership, engagin8 and reaching unreached people groups wlth the Gospel, reachSng out to Afrlcans who live outside of Africa, and a commitment to challengin8, equipping, and educating the church in the organisation's sending nations towards mission through AIM International. The Internotional Dlrector reports to the 8oard of Trustees detailin8 progress towards each of these ends Im05t of the sub.ends have now been incorporated into the revised AIM International ends statement) The Trustees and other personnel were able to travel wldely In Africa durin8 2024. The Trustees provlde mentorship and oversight for field-based leaders and encoura8e and facilitate dialogue with partner churches and other like-minded or8anisations. ASI held dlfferent tralning and management meetlngs onllne for Its members and leaders in 2024. In February 2024 a large conference for 130 of AIM InternatSonal's leaders was held in Cairo, Egypt. The subject of the conference was 'innov3tion" An annual meeting for high-level leaders of AIM International was held in Nairobi in June 2024. Significant decisions were m3de reE3rdin8 differentiated membership charges for AIM International missionaries, with lower charges available to those members from Global South countries. These changes came into effect on l January 2025. The leaders also received trainin8 on recognising psychological and emotional trauma, and how to make appropriate fefefrals whenever this 15 necessary- In September 2024 AIM International's personnel officers met together in Nairobi to discuss and develop AIM International's personnel policies and processes. This was the first conference led by Mrs M Pugh, who was appointed as AIM International's Personnel Dlrertor In Aprll 2024, succeedin8 Mrs K Lewis who fulfilled that role since 2012. During 2024 the International Director visited various countries in Africa, notably Senegal, Guinea and Niger, to help launch AIM International's work there, as a well as connecting with mobilising directors and other key leaders throughout the year, ASI also assisted a number of African mlsslonaries in 2024 through its Africon Missionary Assistance fund, which provides financial assistance of up to $1,000 per missionary in support of their ministry. ASI'S Majority World Missionary Assistance fund sponsored a number of other missionaries from Africa and Brazil, up to a cap of $5,000 per individual. AIM International is placing a specific emphasis on the mobilization of Afrlcan missionaries and therefore ASI will continue to support initiatives that seek to achieve this.
AFRICA SERVICES INTERNATIONAL (A Company Llmlted by Guarantee) TRUSTEES, REPORT (continued) For the year ended 31 December 2024 Achievements and performance (contlnued) During 2024 ASI received 8ifts totalling £38,580 and expended £118,803 for its African Missionary Ass1Stance. African MK Education Fund, and Majority World Missionary Assistance projetts which provide financial support to Global South missionarles. ASI also expended £31,237 of its Famine Relief and Crisis Response fund to assist with emergency aid as result of civil war in Sudan and other crises. Flnanclal revlew ASI received unrestricted Income whlch amounted to £342,943 for the year ended 31 December 202412023.. £418,449). Restrlcted income for the year amounted to £153,267 compared with £182,514 in 2023. Unrestricted expenditure amounted to £758,596 12023.. £758,412). Restricted expenditure amounted to £237.90112023'. £232,340), The net movement in funds for the year amounted to an outflow of £362,356 12023.. £200,264 outflow) after unrealised gains on investments of £137,931 12023- £189,525 unrealised gains on investmentsl and exchange gains of £19.S7312023.. £83,731 exchange losses). ASI'S income from charitable activities was £274,693 for the year ended 31 December 2024 compared with £384.115 in 2023. The decrease in ASI'S income from charitable activities wa5 mainly due to lower conference activity in 2024 compared to the previous year. ASI received unrestricted donations and gifts totalling £46,254 for the year ended 31 December 2024 compared with £21,868 In 2023, all of which related to donations to the Charity's designated funds. Ouring 2024 the Trustees allocated £IOO,000 of ASI'S general funds- E52,000 in total towards Leadership Transition Support and Global South Leader Support, and £48.000 towards the costs of the next major Leadership conference that is due to be held In February 2026, further detalls of which are provlded In Note 12 of the financlal statements. Investment pollcy and performance Stewardship is the driving principle regarding how ASI manages finances in general and specifically how the Charity invests the reserve funds of ASI. Detailed below are the investment stewardship principles that ASI has adopted.. Investments must be made with an appropriate awareness of the need to protect capital; Investment of reserves and other liquid assets must take into consideration the need for liquidity to meet cash flow needs,. Investments and holdings must seek to take advantage of opportunities for competitive returns: and Investments must address currency Tisks. ASI has invested its cash reserves with Merrill which at 31 December 2024 had a market value of £815,265. The portfolio reported an unrealised gain in the 12 months to 31 December 2024 of £137,931.
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) TRUSTEES, REPORT (continued) For the year ended 31 December 2024 Investment policy and performance (contlnuedl The annualised tlme weighted rate of return for the year was 12.49%12023.. 13.96%). This compared with the following benchmark indices.. S&P 500 Total Return.. 25.02%12023.. 26.29%),. ICE BofA US Broad market Bond: 1.47%,. and ICE BofA 3-Month US Treasury Bill.. 5.25%. Reserve5 policy and going concern ASI has a stated reserves policy that specifies that the Charity must maintaln minimum general reserves 8reater than or equal to 6 months, or 50% of ASI'S budgeted operatin8 expenditure and not above 150% of ASI'S operatin8 expenditure. ASI'S budgeted costs for 2025 is £380,800, and its bud8eted Income Is £280,800, resulting in a budgeted deficit of £IOO,000. The Trustees expect to utilise ASI'S retained general reserves durinE 2025 in order to continue to fund its charitable 3ctivity at normal levels. ASI'S unrestricted funds at 31 December 2024 were £1,954,063 {2023: £2,219,785). The Charity's general fund reserve at 31 December 2024 was £527,15012023: £658,3071 and desi8nated funds had decreased from £1,561,478 to £1,426,913 at 31 December 2024. The Charlty's reserves durlng the financial year were malntained at a level over the policy's minimum requirement but below the policy's maximum requirement durin8 2024. ASI manages a number of internatlonal projects whlch results In it holding restricted funds at any tlme. Restricted funds decreased from £195,482 to £98,848 at 31 December 2024. ASI also owns an office property and a number of residential properties occupied by personnel who serve at the Charity. The properties were historically purchased using the Charity's general funds, Plans for the future ASI wlll continue to pursue the objectives of AIM International as stated above, including the sub-objectives s defined by the Board of Trustees. The priority for the unreached peoples of Africa to hear the Gospel will continue to be the focus of activity. ASI continues to support AIM International through the provislon of a wide range of activitie5, which Includes services In the areas of child safety, health ministry, education and wellbeing of third culture chlldren, crisis and contingency planning, encouraging language acquisition, training and leadership development, developing partnership initiatives, supporting Africans in theological education, advising on the use of information technology, and providing financial and personnel co-ordination and member care Structure, governance and management Constitution Africa Services International is a registered charity (No. 10628471 and also a company limited by guarantee {No. 33711561, registered in England and Wales. The Charity is governed by its memorandum and articles of association.
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) TRUSTEES. REPORT Icontlnued) For the year ended31 December 2024 Structure, governance and management (continued) Method of appointment or election oAtrustees (contlnued) The Charity's Trustees are selected in consideration of their godly character. good governance, and Boèrd diversity in terms of men and women, AIM international's regions, ethnicity, age and experience. The composition of the Board is: the International Director, the Chair, seven AIM members and one to three non- AIM members appointed by the Board of Trustees. The Chair and all other Trustees are Invlted to serve three-year term, and may be appointed to one addStlonal term of up to three years, New Trustees receive Induction training from the International Director and the Chalr of ASI a5 required. The Board also receives traSDing periodically in relation to governance, risk management and their other le8al responsibilities as Trustees of ASI. Policy Governance and the Chorlty Governance Codelor smaller chorltles The 8oard of Trustees Utilise the practices found in Policy Governance. The Board welcomes the guidance contained In the Charity Governance Code for smaller charities published in July 2017. The Trustees, application of Policy Governance ensures that the principles outlined in the Charity Governance Code are re8ularly reviewed and proportionately applied to ASI'S operatlonal context. Oroanisatlonol structure ond decislon maklnq AIM International's seven Mobilising Councils send members to work together In countries In Afrlca or with African peoples living In thelr home country. Members are assigned to work in either one of seven re8ions or one of two departments. ASI co-ordinates the placement of AIM International's personnel and provides leadership, strategic planning. leadership development and accountability to ensure that AIM International as a worldwide organisation is accomplishing its stated objectives. Related parties andco-open¥tlon with other oryonisotlons None of the Trustees receive remuneration or other benefit by reason of their position as a Trustee from their work wlth ASI. Trustees are required to disclose to the Board of Trustees all relevant connections and interests In the same way ès any other contractual relatlonship with a relaied party. Durin8 the year no such related party transactions were reported save for the Trustees, common interest as representatives of AIM International. The CharitV'5 relationship wlth the Mobillsing and Receiving Organlsatlons that make up AIM International is set out in Note 14 to the financial statements. Key management personnel The 8oard of Trustees provides governance for the organisation and guidance and accountability for the International Director. Key management personnel of the Charity comprise the International Director. the Africa Ministries Director, the Chief Finance Officer, the African Development Director, the Communications Director, the Innovation Director, and the Personnel Director, who are in charge of operatin8 the Charity on a day to day basis. All Trustee5 give of their time freely and no Trustee received remuneration in the year. Details of Trustee expenses and related party transactions are disclosed in Note 4 to the financial statements.
4FRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) TRUSTEES, REPORT (continued) For the year ended 31 December 2024 Strurture, governance and management (contlnued) Volunteers The Charity relies on voluntary help from members of AIM International to fulfil most of its key management personnel roles and In providing administrative and other practlcal support to the organisation. With the exception of the Chief Finance Officer and the Personnel Director all other key management personnel roles were fulfilled by volunteers during the year. The pay of senior staff is reviewed annually and normally increased in accordance with average earnings. Remuneration is bench-marked with charities of a similar size and activity to ensure that the remuneration set is fair and not out of line with that Eenerally paid for similar roles. Rlsk management The Trustees have a risk management strategy which comprises.. an annual review of the principal risks and uncertainties that the Charity faces; the establishment of policies, System5 and procedures to mitigate those identified risks,. and the implementatlon of procedures de518ned to mlnimlse or manage any potential impact on the Charity should those risks materialise. A key element in the management of financial risk is the regular review of reserves and the availability of liquid funds to settle debt5 as they fall due. The Charity currently has a good level of unrestricted reserves which mitigates this risk in the medium term. Attention is also given to non-financial risks including governance and operational risks, external and environmental risks and compliance with law and regulations. The risk Management review has not Identifled any significant new risks for AIM Internatlonal In the past year. The review specifically considered the risk of climate change to AIM international and the Work of its personnel. While recognising that this is a 518nificant worldwide issue, no new pollcles or procedures were considered necessary at thi5 point. Other reviews also evaluated risks associated with the training or preparation of new AIM international personnel, and found the existing policies and procedures to be adequate. The availability of key management personnel who are eligible to reside in the UK during their term of office is a major non-financial risk for the Charity. A key element in the management of this non-financial risk is the regular monitoring of UK Visa and Immigration policy, undertaking personnel contingency planning and developing procedures that facilitate international operational flexibility. Trustees, responslbllltles statement The Trustees Iwho are also directors of ASI for the purposes of company lawl are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guaranteel TRUSTEES, REPORT (continuedl For the yeor ended 31 December 2024 Trustees, responsibllltles statement lcontlnuodl Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting policie5 and then apply them consistently; observe the methods and prlnclples in the Charities SORP,. make judgements and estimates that are reasonable and prudent,. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company wlll contlnue in operation. The Trustees are responslble for keeplng proper 3ccountlng records that dlsclose with reasonable accuracv at any time the financial posltlon of the charitable company and to enable them to ensure that the financlal statements comply with the Companles Act 2006. They are also responsible for safe8uaTding the assets of the charltable company and hence for takin8 reasonable steps for the preventlon and detection of fraud and other irregularities. This report has been prepared in accordance with the small companies regime of the Companies Act 2006 and wa5 approved by the Trustees and signed on their behalf by.. R K Thlel Eob8kt E. Trie Robert K. Thiel Istp 26.2025 0&.'58'.39 PDII Date 2610912025
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AFRICA SERVICES INTERNATIONAL I report on the financial statements of Af rica Services International for the year ended 31 December 2024 which are set out on pages 12 to 29. Respectlve responslb115t5es of trustees and examlner The trustees (who are also directors of the company for the purposes of company lawl are responsible for the preparation of the flnancial statements in accordance with the requirements of the Companies Act 2006 I'the 2006 Act'l. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eliglble for independent examination, I report in respect of my examination of the chaTItV's flnanclal staternents as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directlon5 8iven by the Charity Commission under section 145lbl of the 2011 Act. This report, including my statement, has been prepared for and only for the charity's trustees as a body. My work has been undertaken so that l rnight state to the charity'5 trustees those motters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body for my examination work, for this report, or for the statements I have made. Basi5 01 the independent examlner's report My examinatlon w3s carrled out in accordance with the general Direction5 given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statement5, and seekin8 explanations f rom you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no oplnlon 15 given as to whether the financial statements present a 'true and fair vlew, and the report is limited to those matters set out in the statement below. Independent examlner's statement Since ihe charity's gross income exceeded £250,000, your examiner rnust be a member of a body listed in section 145 of the 2011 Act. l conf irm that l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England & Wales which is one of the listed bodies. io.
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF AFRICA SERVICES INTERNATIONAL In connection with my examination, which is complete, no rnatters have come to my attention which give me reasonable cause to belleve that in any material respect.. accountin8 record5 were not kept in respect of Africa Services International In accordance with section 386 of the 2006 Act; or the financial statements do not accord with those records. or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act and other than any requirement that the financial statements give a 'true and fair view, which is not a matter considered as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods and principals of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of I reland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to whlch, In my opinion, attention should be drawn In order to enable a proper understandin8 of the financial statements to be reached. Signed.. David H005e15ep 26. ]025 17'.11'.23GMT+ii Davld Hoose Forvis Mazars LLP 90 Victoria Street Bristol BSI 6DP Date.. 2610912025 li
AFRICA SERVICES INTERNATIONAL (A Company Llmited by Guarantee) STATEMENT OF FINANCIAI ACTIVITIES (incorporating the Income and Expenditure Account) For the yeor ended 31 December 2024 Restricted Unrestricted funds funds 2024 2023 Note Income Donations and gifts Income from charitable activities Investment income 153,267 46,254 274,693 21,996 199,521 274,693 21,996 204,382 384,115 12,466 Total income 153,267 342,943 496,210 600,963 Expendlture Expenditure on charitable activities 237,901 758,596 996,497 990,752 Tolal expenditure 237,901 758,596 996,497 990.752 Net lexpendlture) before galns on Investments 184,6341 1415.6531 1500,2871 1389,7891 Net gain5 on investments 137,931 137,931 189,52S Net lexpendlturel before transfers 184,6341 1277,7221 1362,3561 1200,2641 Transfers between funds 11,12 112,0001 12,000 Net Sncome / lexpendlturel and net movement In funds for the year 196.6341 1265,7221 1362,3561 1200,2641 Reconclllatlon ol funds Total funds at the start of the year 195,482 2,219,785 2,415,267 2,615,531 Total funds at the end of the year 13 98,848 1,954,063 2,052,911 2,415,267 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure relates to continuing activitie5. The notes on pages IS to 29 form part of these financial statements. 12-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) Reglstered number 33711S6 BALANCE SHEET As at 31 December 2024 31 December 2024 31 December 2023 Note Flxed assets Intangible assets Tangible assets Investments 186,896 574, 194 815,265 202,050 574,194 1.326,631 1,576,355 2,102,875 Current assets Debtors Cash at bank and in hand 58,743 437,878 54,913 279,605 496,621 334,518 Creditors Amounts falling due within one year io 120,0651 122,1261 Net current assets 476,556 312,392 Total assets less current Ilabilitles 2,052,911 2,415,267 Net assets 2,052,911 2,415,267 Charlty funds Restricted funds Unrestricted funds li 12 98,848 1.954,063 195,482 2,219,785 2.052,911 2,41S,267 For the year ended 31 December 2024, ASI was entitled to exemption from the requirement to have an audit under the provislons of section 477 of the Companies Act 2006. No notlce has been deposited wbth the Charity under section 476 of the Companies Act 2006 requiring an audit to be carried out. The Trustees acknowledge their responsibility for.. ensuring the Charity keeps proper accounting records in accordance with sections 386 and 387 of the Companies Act 2006: and preparing statements which give a true and fair view of the state of affairs of the Charity as at the end of the financial year and of its profitlloss for that financi31 year in accordance with the requirements of sections 394 and 395 of the Companies Act 2006. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The financial statements were approved by the Trustees and signed on their behalf by.. RKThiel Date 2610912025 ftobfft¥. ThkllSrp16.2Q75QÈ.saJ>pDn The notes on pages 15 to 29 form part of these financlal statements. 13-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) STATEMENT OF CASH FLOWS For the year ended 31 December 2024 20Z4 2024 2023 2023 Cash flow from operatlng artlvltles Net movement in funds 1362,3561 1200,2641 Add.. Amortisation of intangible assets Less: Interest (included in investing activities) Less: Foreign exchange on bank balances Less: Investment revaluation gain Add.. Investment portfolio charges Decrease / lincreasel in debtors Increase / Idecreasel in creditors 15,154 11,5771 116,5961 1137.9311 10,710 13,8301 12,0611 11,6661 86.774 1189,5251 13,452 17,877 {21.9421 {136.1311 195.0301 Net cash inflow l (outhowl from operatlng actlvltles {498,4871 1295,2941 Cash flows from Investlng actlvltles Purchase of intangible assets Purchase of investments Proceeds f rom sale of investments Interest received 133,5301 16,8581 155,569 1,666 655,817 1,577 Net cash Inflow I loutflow) from investing activities 657,394 116,847 Net change in cash and cash equivalents 158,907 1178,4471 Cash and cash equivalents at the start of the year 279,605 467,914 Change in cash and cash equlvalents due to exchange rate movements 16341 19,8621 Cash and cash equlvalents at the end of the year 437,878 279,605 An analysis of the changes in net debt is provided in Note IS of the financial Statements. The notes on page5 15 to 29 form part of these financlal statements. 14-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 General Informatlon ASI is a private company limited by guarantee and registered in England and Wales (Company Number 3371156 and Charity Number 10628471. Its registered office is Scott Place, Unit E, Abbey Wood Business Park, Emma-Chri5 Way, Filton, Bristol, BS34 7JU. Accounting pollcles 1.1 Basis of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting bv Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Afrlca Services International meets the definition of a public beneflt entity under FRS 102. The presentation currency of the financial statements 15 Sterling 1£) and the financial statements are rounded to the nearest £. The comparative period is for the year ended 31 December 2023. Going concern basis of preporotion After reviewing the Charity's forecasts and projections, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the goin8 concern basis in preparing its financial statements. 1.2 Company status Legol status The Charity is a company limited by 8uarantee and has no share capltal. The members of the company are the Trustees named on page l of these financial statement5. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per rnernber of the Charity. At 31 December 2024 there were 11 members12023.. 91. Toxation The company is registered with the Charity Commission as a charity and it5 main activities are exempt from taxation in accordance with the Corporation Tax Act 2010. 1.3 Income Income is recognised in the Statement of Financial Activities when the Charity has entitlement to the funds and it is probable that the income will be received and the arnount can be measured reliablv. 15-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 Accounting pollcles (contlnuedl 1.3 Income {contlnuedl In accordance with the Charities SORP IFRS 1021, the contribution made by unpaid volunteers to the Charity is not recognised as income in the financial statement5. A description of the role played by volunteers and the nature of their contribution is provided in Note 5 to the financial statements. 1.4 Deferred Income Incomp received in advance is deferred in the Balance Sheet until the criteria for income recognition is met, at which point the income is recognised in the Statement of Financial Activities. 1.5 Fund accounllng Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated funds are unrestricted funds of the Charity which thè Trustees have declded at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity's work or for specific projects being undertaken by the Charity. 1.6 Expendlture and Irre¢ov¢rable VAT Expenditure is recogni5ed once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities comprises direct charitable expenditure and support C05tS Incurred in overseeing and supporting the activities of AIM International and in the running of the International Office. Governance costs are those costs incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements. Irrecoverable VAT is charged as a cost agalnst the activlty for which the expenditure was incurred. 1.7 Intanglble flxed assets Intangible fixed a55ets are measured at cost less accumulated amortisation and any accumulated impairment losses. 16-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 Accounting policies {continuedl 1.7 Intangible fixed assets (continued) Software development costs are reco8nlsed as an intangible asset when the technlcal feasibility of the software has been proven, the software is in use within the Charity, it has been determined that the software will generate future economic beneflt5, there are sufficient resources to complete its development and there is an ability to measure reliably the expenditure attributable to the software during its development. Amortlsation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives. using the straight.llne method. Intangible assets are amortised over the following useful economic lives: Software development costs 10 years If there is an indication that there has been a sSgnificant change in amortisatlon rate or residual value of an asset, the amortisatlon of that asset is revised prospectlvely to reflect the new expectations. No amortlsatlon Is charged on assets In the course of construction until they are brought into operatlonal use, at which point the assets are transferred to the relevant asset category and are amortised over thelr useful economic Ilfe. 1.8 Tan8ible flxed assets Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all tangible rixed assets other than property costin8 over £1,000, over their expected useful lives, using the straight-llne method. The rates applicable are; Computers and equipment 3years Freehold and long leasehold property 15 not depreciated as it is the Trustees, pollcy to maintain them to a high standard. As a result the properties maintain their residual value at least equal to the book value. This means that any depreciation charged in the year and accumulative depreciation is rendered minimal. The properties are reviewed for impairment, in accordance with Section 27 of FRS 102, at the end of each accounting period. 1.9 Investments Investments are stated at their market value on the balance sheet date. Realised and unrealised aains or losses are accounted for in the Statement of Financial Activities. 17-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 Accounting policies Icontinuedl 1.10 Debtor5 Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amounts relating to future periods. 1.11 Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or le55 from the date of acquisition or opening of the deposit or similar account. 1.12 Credltors Creditors are recognlsed where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. 1.13 Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. 8asic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 1.14 Farelgn Currency translation The functional and presentation currency of the Charity is Sterling 1£). Transactions in foreign currencies are translated into Sterling at the rate ruling on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into Sterling at the rate of exchange prevailing on the balance sheet date. Exchange differences are recognised in the Statement of Financial Activities in the period in which they arise. 1.15 Penslon Costs Contributions to defined pension contribution plan5 on behalf of employees are recognised as an expense in the Statement of Financial Activities in the period in which they are incurred. 18-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the yeor ended 31 December 2024 Income Restrlcted Unrestrlcted funds funds 2024 2023 Income from donatlons and gifts Donations and gifts 153,267 46.254 199,521 204,382 In¢ome from charitable activltle5 Member allocations Conference, tralnlng, IT & support income 152,965 121,728 152,965 121,728 154,374 229,741 274,693 274,693 384,115 Investment Income Rental Income Sundry Income Interest recelved 300 546 1,577 19,573 300 546 1,577 19,573 10,800 1,666 Exchange gains 21.996 21,996 12,466 Total Income 153,267 342,943 496,210 600,963 In 2023 income of £418,449 was attrlbutable to unrestricted funds and £182,514 was attributable to restricted funds. Income analysed geographically was as follows.. 2024 51% 2023 United KlnBdom Europe Rest of the World 15% 49% 85% Expenditure Restricted Unrestrlcted funds funds 2024 2023 Expendlture on charitable actlvitles Dirett charitable expendlture Governance costs 237,901 482,060 26,753 249.783 719,961 26,753 249,783 704,326 29,972 256.454 support C05t5 Total expenditure 237,901 758,596 996,497 990,752 19-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 Expenditure Icontlnuedl In 2023 expenditure of £758,412 was attributable to unrestricted funds and £232,340 was attributable to restricted funds. Net income / lexpenditurel is stated after char8in8: 2024 2023 Depreciation Independent examiner'5 fee 3,000 2,640 al Analysls of dlrect charitable expenditure Restrlcted funds General Deslgnated fund funds 2024 2023 Dlrectorate travel and activitles Consultant travel and actlvltie5 29,382 48,747 101,219. 29,382 48,747 232,881 339,862 69,089 30,270 68,077 274,115 283,085 48,779 Meetings, conferences and trainlng Minlstry and outreach support Development actSvltSes 131,662 101,961 59,196 237,901 9,893 237,901 189,241 292,819 719,961 704,326 In 2023 direct charitable expenditure of £308,054 wa5 attributable to unrestricted general funds, £163,932 was attributable to designated funds and £232,340 was attributable to restricted funds. bl Analysls of governance costs Restrlcted funds General fund 2024 2013 International Council meetin8 Costs Independent examiner'5 fee 23,753 3,000 23,753 3,000 27,332 2,640 26.753 26,753 29,972 In 2023 all £29,972 of Bovernance costs was attributsble to unrestricted funds. -20-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 Expenditure (contlnued) cl Analysls of support costs Aestri¢ted fund5 General Desl8nated fund funds 2024 2023 Staff costs Co-operatlve support Residency and housin8 SUPPOrt Insurance and busSness rates 145,537 1,721 15,251 7.215 21,157 10,042 21,487 15,154 12,219 145,537 1,721 15,251 7,215 21,157 10,042 21,487 15,154 12,219 100,987 2,379 7,418 6,706 3,147 9,948 28,033 Property repairs and maintenance Office running costs IT, communication and printlr4 costs Amortisatlon Bank and portfollo charges Exchan8e losses 14,105 83,731 249,783 249,783 256,454 In 2023 all £256,454 of support costs was attrlbutable to unrestrlcted funds. Staff costs, trustee remuneratlon and expenses, and the cost of key management personnel Staff costs during the year were as follows.. 2024 Z023 Salaries and wages Social securlty costs Pension costs 123,338 7,535 14,664 86,557 4,450 9,980 145,537 100.987 The emoluments of one employee was within the range £60,000 to £69,999 during the year12023-. No employee received emoluments in excess of £60,0001. No Trustee received any remuneration from the Charity for their 5ervice5 a5 a trustee duTin8 the year 12023: £nill Ineither were they reimbursed expenses during the yearl12023: £nill. The total employee benefits of the key management personnel of the Charity was £104,83212023: £80,756). 21-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 Staff numbers The average monthly number of employees during the year was as follows.. 2024 No. 2023 No. Administration In addition to its employees, the Charity received voluntary help from members of AIM International which amounted to an addition316 Full Time Equivalent staff during the year12023: 5}. Intanglble flxed assets Assets In Software the course development of ¢onslructlon costs Total Cost At l January 2024 Transferred durlng the year Di5P05a15 202,050 1202,OSOI 206,277 408,327 202,050 202,050 1206,2771 1206,2771 At 31 Oecember 2024 202,OSO 202.050 Amortlsatlon and Impairment At ljanuary 2024 Dlsposals Charge In the year 206,277 206,277 1206,277} 1206,2771 15,154 15,154 At 31 December 2024 15,154 15,154 Net book value At 31 December 2024 186,896 186,896 At 31 December 2023 202,050 202,050 Amortisation of intangible fixed assets is included in expenditure on charitable activities within support costs. Assets in the course of construction ASI'S human re50urce5 software system is included as an intangible fixed asset within software development costs. On l April 2024 the new Mernber Management Platform {MMPI system went live, the cost of which was therefore transfered from an intangible fixed asset in the course of construction to intangible fixed asset software development costs. The MMP system is being amortised over its useful economic life from the live d3te, which was l April 2024. Also on thi5 date the former human resources software system was recorded as a disposal lit having previously been written down to nil net book value). 22-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 Tanglble flxed assets Propertles & Computers & Improvement5 equlpment Total Cost At I january 2024 574,194 2,740 576,934 At 31 December 2024 574,194 2,740 576,934 Depreclatlon At l January 2024 2,740 2,740 At 31 December 2024 2,740 2,740 Net book value At 31 December 2024 574, 194 574,194 At 31 December 2023 574,194 574,194 Property hlstoric cost and value At 31 December 2024 the Charity owned S properties in 8rlstol whSch had a comblned hlstoric cost of £524,770. Four propertles are freehold (historic cost: £469,6901 and one property is long leasehold (historic cost.. £55,080). Subsequent capital improvements on certain of these properties has increased their historic cost by £49,424, All of the properties are shown in the financial statements at theSr historic cost. The Trustees believe the market value of the Charity's properties significantly exceeded their historic cost. The properties had a combined insurance value of approximately £1.9 million. Fixed asset investments Listed securities Market value At l January 2024 Dlsposals Portfolio charges Revaluation galn xchange rate loss 1.326,631 1655,8171 110,7101 137,931 17,230 At 31 December 2024 815,265 -23-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the yeor ended 31 December 2024 Fixed asset investments (contlnuedl All of ASI'S fixed asset Investments were held overseas In a pooled Investment fund arrangement on behalf of AIM International. The pooled Investment5 comprise equity and fixed income holdings which are managed on behalf of the Charity by Merrlll. Debtors 2024 2023 Due withln one year Other debtors Prepayments and accrued intomÈ 16,847 41,896 6,526 48,387 58.743 54,913 10. Credltors: Amounts lalllng due wlthln one year 2024 2023 Other creditors Accruals and deferred income 7,376 12,689 10,729 11,397 20,065 22,126 Deferred income An analysis of the movement in deferred income during the year was as follows: At l January 2024 Resources deferred durin8 the year At 31 December 2024 -24-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 11. Analysis of movements In restrlrted funds Year ended 310ecernber 2024: Brought forward Incomlng resource5 Resources expended Transfers Sn / lout) Carried forward African Missionary A5S15tance Afrtcan MK Education Fund Famine Relief & Crisis Response Majority World Missionary As5i5tance Support Funds TIMO Development 25,925 74,462 29,838 19.624 10,689 14.925 {41.9901 {43.3381 131,2371 3,559 41,813 13.526 43,921 11,408 9,928 8.267 99.688 74 133,475) 187,8611 (12,0001 6,713 23,235 10,002 Restricted funds 195,482 153.267 {237,9011 112,0001 98.848 Restricted fund transfers durlng the year ended 31 December 2024 comprised a transfer of £12,000 from ASI'S African Mlssionary Assistance fund to ASI'S African Mlsslonary Assistance designated fund in relation to ASI'S support for a mobilising office based in Addls Ababa, Ethlopla. Year ended 31 December 2023: 8rought forward Incomlnq resources Resourtes expended Transfers In / lout) Carrled foNiard African Mi55ionary Assistance African MK Education Fund Famine Relief & Crisls Response International Strateglc Oulreach Majority World Missionary Assistance National Leaders Ministry Fund Support Funds TIMO Oevelopment 15.773 6,149 82,954 9S 18.612 94,441 16.684 31 132,0561 126,1281 169.8001 (1261 23,596 25,925 74,462 29,838 92.825 2.794 11,634 9,488 7,3SO 218 44.738 440 156,2541 13.0121 {44,9641 43.921 11.408 9,928 Restricted funds 221.712 182,514 1232,3401 23,596 195.482 -25-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 11. Analysis of movements in restricted funds Icontlnued) Description of restricted funds Aflican Missionary A551Stance African MK Education Fund for providing financial assistance to African missionaries. for provldlng fSnanclal assistance to Afrlcan mlsslonaries for MK education. to be used in response to famine or any other crisis. for providin8 financial assistance to majority world mi5sionarie5. Famine Relief & Crisis Response Majority World Missionary AssSstance Support Funds TIMO Development for provldlng asslstance for members who are employed by ASI. for costs relating to development of the TIMO trainin8 pro8ramme. 12. Analysis of movements In unrestrlrted funds Year ended 31 December 2024: Brought forward Incomlng resources Resources expended Transfers Galns I (losses) Carrled fonvard In / (outl DesS8nated funds General fund 1,561,478 658,307 46,254 296,689 1292,8191 112,000 1465,7771 1100,0001 1,426,913 527,150 137,931 Unrestrlcted funds 2.219,785 342,943 1758,5961 12,000 137,931 1,954,063 Designated funds comprise the following: Brought fonvard Incoming resources Resources expended Transfers in / lout) Carrled fonvard African Member Health Insurance 33,194 14,542 48,IlS 248.024 248,453 94,669 {1.4731 {5,4831 116,843} 159.1961 {3.7811 131,5991 31,721 24,839 39,188 188,828 244.672 52,799 15,500 574,194 36,500 218,672 AIM Stories Grants & Equipment AIM West Africa Fund 15,780 7,916 CHARIS11 Project Contingency Fund Global Integrated Strateglc Plan Global South Leader Support International Capital Propertv Leadership Transition Support Vision Funds 110,2711 Is,soo 574,194 36,500 62,355 300.287 30,474 1174.4441 Designated funds 1,561,478 46,254 1292.8191 112,000 1.426,913 -26-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the yeor ended 31 December 2024 12. Analysls of movements in unrestr5cted funds {continued) Designated fund transfers durlng the year ended 310ecember 2024 comprised the followlng: A transfer of £IOO,000 from ASI'5 General fund to three designated funds.. the Leadership Transition Support fund1£36,5001 and the Global South Leader Support fund1£15,5001 to assist with leadership changes taking place at ASI over the next 2 years, and the Vision (Conferences) fund 1£48,0001 in preparation for ASI'S leadership conference which Is belng planned to take place in Addis Ababa, Ethiopia in February 2026. Year ended 31 December 2023: Brought fonvard Incomlng resources Resources expended Transfers in l (out} Galn51 Ilossesl Carried forward Deslgnated funds General fund 1,463,652 930,167 21,868 396,581 1163,9321 239,890 1594,4801 1263,4861 1,561,478 658,307 189,525 Unrestrlcted funds 2,393,819 418,449 1758,4121 123,5961 189,525 2,219,785 Designated funds comprise the following; Brought forward Incomlng Resources resources expended Transfers In / lout) Carrled fonvard African Member Health Insurance AIM Storles Grants & Equipment AIM West Africa Fund CHARIS11 Project Contingency Fund Glob?1 Integrated Strategic Plan International Capltal Property Vision Funds 35,486 4,639 48,115 287,045 259,024 220 11,047 12,5121 11,1441 33,194 14,542 48,115 248,024 248,453 94,669 574.194 300,287 {39,0211 {10.5711 {15,9701 79S 109.844 574,194 2SS,149 9,806 {94.7141 130,046 Designated funds 1.463,652 21,868 1163,9321 239,890 1,561,478 Oesignated fund transfers during the year ended 31 December 2023 comprised the following.. A transfer of £109,844 from ASI'S General fund to its Global Integrated Strategic Plan fund,. and A transfer of £130,046 from ASI'S General fund to its Vision Funds (formerly known as Vision 20120 funds) as part of the approved Global Integrated Strategic Plan for the Charity. 27-
AFRICA SERVICES INTERNATIONAL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the yeor ended 31 December 2024 12. Analysls of movements in unrestricted funds (continued) Description of designated funds African Member Health Insurance fund to assist paying for African members, health insurance. fund to assist AIM Stories (formerly OFMI projects and equipment. a fund to assist in developing AIM ministry in West Africa. fund5 for the research and development cost5 of a new HR system. a fund to assist with emergency or evacuation costs for members. a fund to assist with inntsvation, Intercultural tiainin& misslonal church partnerships and mobilisation initiatives. fund to provide monthly financial assistance to ASI'S Global South Leaders. the unrestrlcted value of the Charity's property. a fund to provSde asslstance wlth vlsa 3nd NHS surcharge costs for leader5 who are required to relocate to the UK to serve with ASI. fund to assist with Vlsiorn Inltlatlves. AIM Stories Grants & Equipment AIM West Africa Fund CHARIS11 Project Contingency Fund Global Integrated Strategic Plan Global South Leader Support International Capital Property Leadershlp Transltlon Support Vision Funds 13. Analysis of net assets b¢tw¢¢n funds Restrlcted Unrestrlcted funds funds 2024 2023 Intangible assets Tanglble assets Investments Debtors Cash at bank and in hand Creditors due within one year 186,896 574,194 815,265 58,743 339,030 120.0651 186,896 574,194 815,265 58,743 437,878 120.0651 202,050 574,194 1,326,631 54,913 279,605 122, 1261 98,848 98,848 1,954.063 2.052,911 2.415,267 14. Related parties and Co-operation with other organlsatlons Moblli5ing Oryani5atlons The Charity is connected with the Mobilising Organisations that form the member body of AIM International. There are currently seven Mobilising Organisations: Asia-Pacific, South America, Canada. Europe. South Africa, Korea and the USA. Amongst other activities, Mobilising Organisations are responsible for collecting and then distributing member allocations to ASI that usually comprises the majority of the Charity's annual income as recorded in the Statement of Financial Activitie5. 28-
AFRICA SERVICES INTERNATIONAL {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024 14. Related parties and co.operation with other organisations Icontlnuedl Recelvlng Organ150tldns The Charity is also connected with the Receiving Organisations that form the member body of AIM Internatlonal. These organisations, usually registered in their country of operation as an NGO, comprise regional offices as follows: Central Region in Kampala. Uganda, Eastern Region in Nairobi, Kenya, Southern Region in Johannesburg, South Africa. Diaspora Region in California. USA. and Northern and Western Region. In addition to these regional offices AIM I nternational a150 has training and support service offices located in Nairobi, Kenya. Most of the charitable activity undertaken bv ASI is facilitated in co-operation with this network of regional offices. 15. Pension commitments The Charity makes defined pension contributions on behalf of eligible employees. The assets of the scheme are administered by an independent pensions provlder. Pension payments, recognised as charitable expenditure within support costs during the year amounted to £14,66412023: £9.9801. 16. Analysls of Changes In net debt Atl January 2024 Forel8n Cash exchange flows movements At31 December 2024 Cash and cash equivalents Cash 279.605 158,907 16341 437,878 Boirowlngs Debt Total 279,605 158,907 16341 437,878 29-