CHRISTIAN MISSIONS CHARITABLE TRUST FINANCIAL STATEMENTS
31 JANUARY 2024
Charity Number 1074607
CHRISTIAN MISSIONS CHARITABLE TRUST
FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
| Contents | Pages |
|---|---|
| Reference and administrative information | 1 |
| Trustees’ Report | 2 – 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Statement of Cash Flows | 9 |
| Notes to the Financial Statements | 10 – 14 |
CHRISTIAN MISSIONS CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE INFORMATION
YEAR ENDED 31 JANUARY 2024
The charity trustees are:
Trustees
Mrs Judith Angell Resigned 06/04/23 Mr Brian Dunning
Mr Mani Manjul Philip Resigned 07/09/23 Dr CM Redit Resigned 07/09/23 Mrs Jill Pateman Mr Colin Short Mr John Speirs Resigned 07/09/23 Mr Tim Symonds Resigned 18/02/23 Dr Barry Trewinnard Dr Karen Trewinnard Mr David McFeeters Resigned 07/09/23 Mr Ian McCorkell Mr Gabriel Bennett Mr Derek Ford
Registered office 9 Mere Close Ramsey Mereside Huntingdon Cambs PE26 2UQ Bankers
Bankers National Westminster Bank Examiners Joshua Kingston BSc, ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol, BS48 1UR
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CHRISTIAN MISSIONS CHARITABLE TRUST
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 JANUARY 2024
The trustees present their report for the year ended 31 January 2024.
The trustees are as named on page 1.
The Trustees have power to appoint additional trustees as they consider appropriate. In doing so they have regard to the skills and expertise of the prospective trustees in relation to the skills and experience of the existing trustees, as well as the general suitability of each prospective appointee and the particular expertise that the prospective trustee could bring to the trust. Active interest in the work of Christian Missions Charitable Trust in India is expected of the trustees.
New trustees are inducted by briefing by the existing trustees, provision of appropriate papers including a copy of the Trust Deed, and, if possible and necessary, visits to the work of Christian Missions Charitable Trust, India. In addition, they will be checked with the Disclosure and Barring Service before being approved and afterwards will also take all the relevant Safeguarding training.
Governing Document
Christian Missions Charitable Trust is a registered charity 1074607. The charity is governed by the Declaration of Trust dated 6 October 1998 and the Supplementary Declaration of Trust dated 24 May 2000.
Objects of the Charity
The objects of the charity are:
To advance the Christian faith in accordance with the charity’s statement of beliefs.
To relieve persons who are in conditions of need or hardship or who are aged or sick or homeless.
To advance education in accordance with Christian principles.
To promote and fulfil such other charitable purposes as are beneficial to the community.
The objects are to be pursued in India or elsewhere as the Trustees may from time to time think fit.
The charity currently achieves its objects in particular by promoting in the U.K. interest in and financial support for the work of Christian Missions Charitable Trust of India ('CMCT India') based in Chennai in the Tamil Nadu state of India. CMCT India has a substantial range of activities, all falling within the objects of the charity and focused on aiding the poorest in Chennai and its suburbs and in the village of Chinnakuppam on the coast south of Chennai (activity in Chinnakuppam began as assistance following the tsunami of Christmas 2004 but continues in view of the links formed).
The activities of CMCT India include a hospital, a dental clinic, a physiotherapy centre, extension of leprosy work in settlements outside Chennai, schools, and hostel, vocational education, work among street children, a handicraft enterprise, wheelchair distribution, redevelopment of the village of Chinnakuppam (including the building of 140 new houses now fully occupied), agricultural projects in two locations and a visiting medical and dental team to outlying projects. The spread of the Christian Gospel and nurturing of the Christian faith in appropriate ways are integral to all these activities.
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CHRISTIAN MISSIONS CHARITABLE TRUST TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 JANUARY 2024
The overall expenditure of CMCT India in its last financial year was of the order of £2,100,689 (2023: £1,727,265) excluding the value of the extensive voluntary resources provided to it. CMCT India employs over 316 staff in carrying out these activities, all these staff being Indian.
In the last financial year, 51% (2023: 51%) of CMCT India’s income was from the U.K., the majority being funds received by the Charity from U.K. Donors and grant giving trusts. These funds are received for both general and specific purposes, and the charity makes them available to CMCT India with the minimum of delay. In the year 2023-24, the charity forwarded a total of £810,000 (2023: £650,000) to CMCT India. The charity is run entirely voluntarily – there is no paid staff, administration being undertaken by the Trustees themselves. The charity provides support to one individual for time and expenses involved in bookkeeping and financial administration. In the year 97.3% (2023: 92.7%) of funds received were passed on to CMCT India in order to achieve the objects of the charity with the minimum delay, with the balance being retained as a cash sum for future distribution or to pay for essential administrative services, primarily for the Independent Examination of the charity’s finances, tax services and preparation of the accounts.
Public benefit
The Trustees have given due consideration to the Charity Commission’s guidance on public benefit, both generally and with particular respect to religious charities. The charity achieves the public benefit in pursuit of its objects by enabling the work of CMCT India as summarised above. This work is of manifest benefit to large numbers of needy persons in Chennai and other parts of Tamil Nadu.
Future plans
During the next financial year the trustees have decided to implement a process to change to the legal structure of CMCT UK from a Trust to a Charitable Incorporated Organisation. This work will be assisted by a law firm who specialise in charity work of this nature. It will be an opportunity to refresh and update the current Trust documents and governance structure and policies, including enhanced Safeguarding training and processes, and new or updated policies and procedures.
Six trustees have resigned in the last twelve months but an analysis showed that two retired due to age, two due to other trustee commitments and two due to the impending transfer of the Trust to CIO status. We are actively recruiting new trustees with one already agreed to start in 2024 and the Chair will work with other officers of the Trust to ensure that new trustees who are recruited who have the appropriate skills and also who share the core vision and beliefs of CMCT.
The trust expects to continue to obtain funds in the UK for CMCT India and to increase the amount given year by year if it can do so. The level depends on the extent to which the Christian public with whom the Trust communicates feels led by God to give funds and purchase handicrafts. One of the trustees, who committed himself to the unpaid role of UK Ambassador of the trust in order to make the work better known and advise on ways and means of achieving that end, resigned at the Annual General Meeting in September 2023. His duties and essential activities have been successfully shared between the other trustees and different approaches to fundraising are under constant consideration by the trustees, with an Outreach Committee set up during the financial year to bring focus to this work.
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CHRISTIAN MISSIONS CHARITABLE TRUST
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 JANUARY 2024
Reserves Policy
As it is the policy of the trustees not to employ staff, the charity is in a position to pass virtually all funds received to CMCT India and to do so more or less immediately they are received. In these circumstances, and since it is accepted that income inevitably fluctuates with the inclinations and interests of donors at any particular time, the trustees do not consider it necessary to maintain a significant level of reserves. There has been discussion of whether to retain some funds in the UK, to assist as necessary with troughs in the overall income of CMCT India, but this approach has not in fact been implemented.
Risk Management
The main risks of the charity’s operations are erosion by inflation of sums received while they remain in the hands of the charity and misappropriation of funds. The former risk is mitigated by passing on funds just as soon as possible to CMCT India. Financial administration is discharged primarily by two of the Trustees and all payments and transfers require two authorised signatories. The board of trustees receives financial reports twice a year and the accountants audit all incoming donations and all outward payments to CMCT India.
Cash sums are from time to time received by individual Trustees and other volunteers who work on behalf of the charity. Such sums are paid into the bank account by the trustees or passed on to the two trustees with responsibility for financial administration.
There is a risk that giving might erode over time due to the increasing age profile of the donor base and competing demands from other charities at a time when donors have reduced money to give. We have set upon a committee to focus on outreach to existing and new givers while at the same time strengthening links with supporting trusts and improving quality and frequency of communications to our donor base.
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CHRISTIAN MISSIONS CHARITABLE TRUST
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 31 JANUARY 2024
Statement of trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees on 2nd October 2024.
And signed on their behalf by
Colin Short (Chairman)
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CHRISTIAN MISSIONS CHARITABLE TRUST INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
YEAR ENDED 31 JANUARY 2024
Independent examiner’s report to the trustees of Christian Missions Charitable Trust
I report to the trustees on my examination of the accounts of Christian Missions Charitable Trust (the Charity) for the year ended 31 January 2024.
Responsibilities and basis of report
As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Joshua Kingston BSc, ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol, BS48 1UR
Date:……………………..…
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CHRISTIAN MISSIONS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 JANUARY 2024
| Note Income from: Gifts and donations 2 Other trading activities 3 Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net income/(expenditure) and net movement in funds 8 Reconciliation of funds: Total funds brought forward 12 Total funds carried forward 12 |
Unrestricted Funds £ 334,144 9,041 343,185 414 334,970 335,384 7,801 19,106 26,907 |
Restricted Funds £ 487,546 - 487,546 - 487,546 487,546 - - - |
Total Funds 2024 £ 821,690 9,041 830,731 414 822,516 822,930 7,801 19,106 26,907 |
Total Funds 2023 £ 665,328 9,389 674,717 432 660,233 660,665 14,052 5,054 19,106 |
|---|---|---|---|---|
The Charity has no recognised gains or losses other than the results for the period as set out above.
All of the activities of the charity are classed as continuing.
The notes on pages 10 to 14 form part of these financial statements See note 9 for fund-accounting comparative figures
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CHRISTIAN MISSIONS CHARITABLE TRUST
BALANCE SHEET
AS AT 31 JANUARY 2024
| Note Current assets Debtors 10 Cash at bank and in hand Creditors : Amounts falling due within one year 11 Net current assets Net assets Funds Unrestricted funds |
2024 £ 2,620 26,741 29,361 (2,454) 26,907 26,907 26,907 26,907 |
2023 £ 4,149 17,237 21,386 (2,280) 19,106 19,106 19,106 19,106 |
|---|---|---|
These financial statements were approved by the trustees on …......................................... and are signed on their behalf by: ………………………………. ………………………………. Colin Short Derek Ford Chairman Trustee
The notes on pages 10 to 14 form part of these financial statements
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CHRISTIAN MISSIONS CHARITABLE TRUST
STATEMENT OF CASH FLOWS
YEAR ENDED 31 JANUARY 2024
| Operating Activities Cash flows for Operating Activities Income from Donations and Legacies Costs of raising funds Cash flows from Operating Activities Income from Charitable & other Activities Costs of Charitable Activities Net Cash Inflow for the year Notes to the Statement of Cash flows SOFA £ A1 Income from Donations and Legacies 821,690 A2 Costs of raising funds (414) A3 Income from Charitable & other Activities 9,041 A4 Costs of Charitable Activities (822,516) B Analysis of changes in cash flow during the year Cash at Bank & in Hand Cash at Bank & in hand |
Notes A1 A2 A3 A4 B Movement of debtors £ 1,529 - - - 2024 £ 26,741 2023 £ 17,237 |
2024 £ 823,219 (414) 9,041 (822,342) 9,504 9,504 Movement of creditors £ - - - 174 2023 £ 17,237 2022 £ 6,668 |
2023 £ 661,615 (432) 9,389 (660,003) 10,569 10,569 Cashflow £ 823,219 (414) 9,041 (822,342) Change £ 9,504 Change £ 10,569 |
|---|---|---|---|
C Cashflow Restrictions
Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cashflows for the year.
The notes on pages 10 to 14 form part of these financial statements
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CHRISTIAN MISSIONS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1 Accounting policies
- a) The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The charity is a Public Benefit entity as defined under FRS 102.
- b) Income from donations/grants is included in income when these are receivable, except as follows: i) When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods.
ii) When donors impose conditions which have to be fulfilled before the charity becomes entitled to us such income, the income is deferred until the pre-condition have been met.
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c) Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.
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d) Expenditure that is directly attributable to specific activities has been included in those costs of those activities. Support costs have been allocated 100% towards the charitable activities of the charity and split between activities on the basis of management knowledge and estimates of usage.
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e) Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include any applicable audit fees, independent examination fees and costs linked to the strategic management of the charity.
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f) Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
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g) Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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h) Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.
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i) Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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j) Creditors and provisions are recognised 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 and provisions are normally recognised at their settlement amount after allowing for any discounts due.
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CHRISTIAN MISSIONS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1 Accounting policies ( continued )
- k) The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a consistent rate using the effective interest method.
2 Gifts and donations
| Donations - general Gift aid Prior year comparatives Donations - general Gift aid |
Unrestricted Funds £ 327,124 7,020 334,144 Unrestricted Funds £ 346,079 9,479 355,558 |
Restricted Funds £ 464,974 22,572 487,546 Restricted Funds £ 286,342 23,428 309,770 |
Total Funds 2024 £ 792,098 29,592 821,690 Total Funds 2023 £ 632,421 32,907 665,328 |
|---|---|---|---|
3 Other trading activities
| Sales of Handicraft | Unrestricted Funds £ 9,041 9,041 |
Restricted Funds £ - - |
Total Funds 2024 £ 9,041 9,041 |
Total Funds 2023 £ 9,389 9,389 |
|---|---|---|---|---|
All income from other trading activities in 2023 was unrestricted.
4 Raising funds
| Fees on donations | Unrestricted Funds £ 414 414 |
Restricted Funds £ - - |
Total Funds 2024 £ 414 414 |
Total Funds 2023 £ 432 432 |
|---|---|---|---|---|
All expenditure on raising funds in 2023 was unrestricted.
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CHRISTIAN MISSIONS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
| 5 Charitable activities Donations to CMCT India Prior year comparative Donations to CMCT India |
Grants £ 809,219 809,219 Grants £ 650,781 650,781 |
Support Costs (Note 6) £ 13,297 13,297 Support Costs (Note 6) £ 9,452 9,452 |
Total Funds 2024 £ 822,516 822,516 Total Funds 2023 £ 660,233 660,233 |
|---|---|---|---|
| 6 Support costs Bank charges Book-keeping Office costs Governance costs (Note 7) |
Total Funds 2024 £ 638 1,000 8,155 3,504 13,297 |
Total Funds 2023 £ 596 960 5,616 2,280 9,452 |
|---|---|---|
7 Governance costs
| Unrestricted Funds £ Independent Examiner's Fees: - for independent examination 852 - for accounts preparation 1,272 - other services & taxation services 1,380 3,504 All governance costs in 2023 were unrestricted. Net income Independent examiner's fees Trustees' expenses - 3 trustees (2023: three) for travel and phone costs. |
Restricted Funds £ - - - - |
Total Funds 2024 £ 852 1,272 1,380 3,504 2024 £ 3,504 4,970 |
Total Funds 2023 £ 1,026 1,254 - 2,280 2023 £ 2,280 2,390 |
|---|---|---|---|
8 Net income
No employee received emoluments in excess of £60,000 during the year (2023: Nil).
As there are no individuals employed by the charity, the key management personnel are solely the Trustees.
Remuneration of £1,000 (2023: £1,050) was paid to one trustee during the year for other services, and expenses for a value of £3,511 were waived during the year (2023: Nil).
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CHRISTIAN MISSIONS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
9 Fund-analysis comparative figures
| Income from: Gifts and donations Other trading activities Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income/(expenditure) and net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 355,558 9,389 364,947 432 350,463 350,895 14,052 5,054 19,106 |
Restricted Funds £ 309,770 - 309,770 - 309,770 309,770 - - - |
Total Funds 2023 £ 665,328 9,389 674,717 432 660,233 660,665 14,052 5,054 19,106 |
|---|---|---|---|
10 Debtors
| Gift Aid debtor Creditors Accruals and deferred income |
2024 £ 2,620 2,620 2024 £ 2,454 2,454 |
2023 £ 4,149 4,149 2023 £ 2,280 2,280 |
|---|---|---|
11 Creditors
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CHRISTIAN MISSIONS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
| 12 Movement in funds Restricted funds CMCT India Unrestricted funds General funds Total funds Prior year comparative Restricted funds CMCT India Unrestricted funds General funds Total funds |
At 01-Feb 2023 £ - - 19,106 19,106 19,106 At 01-Feb 2022 £ - - 5,054 5,054 5,054 |
Income £ 487,546 487,546 343,185 343,185 830,731 Income £ 309,770 309,770 364,947 364,947 674,717 |
Expenditure £ (487,546) (487,546) (335,384) (335,384) (822,930) Expenditure £ (309,770) (309,770) (350,895) (350,895) (660,665) |
Transfers £ - - - - - Transfers £ - - - - - |
At 31-Jan 2024 £ - - 26,907 26,907 26,907 At 31-Jan 2023 £ - - 19,106 19,106 19,106 |
|---|---|---|---|---|---|
Description of funds
CMCT India
The donations included in this fund have been donated specifically for the work done by CMCT India.
13 Related party transactions
2 trustees (2023: 4) are also trustees of CMCT India. Donations of £810,000 were made to CMCT India during the year (2023: £650,000).
Donations of £4,525 were received from the charities trustees during the year (2023:£10,893).
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