Charity number 1080149 INTERNATIONAL CHRISTIAN MISSION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
INTERNATIONAL CHRISTIAN MISSION CONTENTS Page Reference and admlnlstrative details of the Charity, its Trustees and advisers Trustees. report Independent examiner's report Statement of financial activities Balance sheet Notes to the flnanclal statements 10-19
INtERNATIONAL CHRISTIAN MISSION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Rev Dr E Rubaduka Mr H S Critchley, Chair Mr E Rubaduka Mr D Wakefield Mr E Allen Dr M Fonge Charity registered number 1080149 Principal office 1 st Floor OffIS 162 Godinton Road Ashford Kent TN23 1LN Accountants Magee Gammon Chartered Accountants Henwood House Henwood Ashford Kent TN24 8DH Founders Rev Dr E Rubaduka Mrs J Rubaduka Page 1
INTERNATIONAL CHRISTIAN MISSION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER2023 The Trustees present their annual report together with the finanaal statements of the Charity, International Christian Mission (ICM), for the year from 1 January 2023 to 31 Dernber 2023. Objectives and activities a. Policies and objectives The principal objects of the charity are the advancement of the Christian faith and in particular, but without derogation from the generalty. i) the planting of a network of Christian thurch congregations beginning in Wye near Ashford. Kent, and spreading nationally and intemationally thereafter, li} the proclamation of the gospel of Jesus Christ and the preaching and teaching of the way of the Word of God in the United Kingdom and other such places as shall be decided upon by the trustees consistently with the statement of faith set forth in the dedaration of trust iii) the relief of need, suffering and distress by the provision of hospitality and visits to the lonely. the rejected and the outcasL The trustees confirm that they have referred to the guidan contained in the Charity Commission's general guidance on public benefit when reviewirKJ the charity's aims and objectives, and in planning fvture actj'vities. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefi( including the guidance 'Public benefit. running a charity (PB2)'. Page 2
INTERNATIONAL CHRISTIAN MISSION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Objectives and adivitles (continued) b. Strategies for achieving objectives The UK Church Ashford Pentecostal Church The UK church promotes the growth of both new and mature Christians through Bible Studies. prayer and home groups. Baptism classes are held for those wishing to be baptised. Ashford Pentecostal Church is able to hold wedding blessings and couples intending to marry are encouraged to receive pre and post marriage counselling. The church also supports local outreaches inibated by the Ashford Churches Together association. Overseas Mission5 i) Zambia - The second branch of ICM ministy began in 2013 with the planting of Lusaka Pentecostal Church, which later on became Zambia Pentecostal Church. In the absence of an ordained minister, Pastor Encch was compelled by the Zambian Home offi to name himself as Lead Pastor. In 2018 the church ceased functioning due to there being no suitable local pastor. However. the registration of ICM Zambia Pentecostal Church remains open as it enables the sucsSful prison outreach ministry. headed up by Assistant Pastor Jeannine Rubaduka to conts"nue. In rent years, thousands of inmates in prisons across Zambia have been fed and many received gifts of Bibles, clothes and other items. The Word of God has also been preached with many receiving Christ for the first time and others reinstaling Him as their Saviour and Lord. ii) Rwanda - Rwerere Health Centre. In 2008. the Rwandan govemment gave responsibility for this Health Centre to the Pentecostal Church in Rwerere. This church had been planted in 1982 by the current ICM Pastor. when he was serving the Rwandan Government in Agricultural Research befo coming to the UK in 1988 for his PhD at Wye College. University of London. The ICM ministy was instrumental in resuscitating the Health Centre after the Civil War in the 1990s. The facility was revamped with the help of local authorities in partnership with ADEPR (the umbrella denomination of Pentecostal churches in Rwanda). This partnership was initiated by ICM Pastor in his many trips to Rwanda beeen 2008 and 2012. During that period. ICM bought a piece of land which has proved invaluable in terms of helping wth the expansion of the Centre. With the help of the Government, new units have been built on it and the Centre now boasts many departments and ServIS which were previously unknown in the area. This Health Centre takes care of over 10,000 individuals in the Northem region of Rwanda. iii) DR Congo, Bukavu (Widows, orphans and families) - ICM supports a small group in this area, in particular paying the school fees of orphans & disadvantaged children in primary and secondary education and occasionally providing money for food. Page 3
INTERNATIONAL CHRISTIAN MISSION TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achievements and performance a. Main achievements of the Charity a) The UK church 2023 saw a continued increase in church attendance. A total of 11 individuals We baptised,. particularly encouraging was the number of teenagers and young people amongst this group. Lent was marked by 40 days of prayer, where we met in different homes acr05S the fellowship. Over the summer months we embarked on prayer walking in Stanhope, followed by open Air Sunday service outside the Parish Hall where we usually meeL This sparked interest amongst a number of the children who often play in that area. Our online Bible Studies on the book of Revelation continued. with participation of friends from overseas. The church continued to support the community by supptying Foodbank boxes throughout the year. In addition, we ran our Boxes of Hope Winter Project beeen January and March. In December, we also delivered Christmas hampers to some of our dients and a small group sang carols at the William Harvey hospital. which was very well received by staff, patients and visitors alike. b> Overseas Mission Democratic Republic of Congo The church continued to support a small group of children in Bukavu with financial donations to cover the cost of school and exam fees. For the 22-23 school year we supported ten students, one in primary and nine in Secondary education. Pastor Enoch visited the community on his trip to Afri in October 23. Rwanda During his trip to Africa in the autumn, Pastor Enoch Nfjsited the Health Centre and Church in Rwerere. He was delighted to report on the new Health Centre built on the plot of land purchased by ICM and the progress being made on the new church building there. Zambla In December, Assistsnt Pastor Jeannine travelled to Zambia by her own private means in order to bless prisoners there with a Christmas meal and to preach to them the Word of GCAI. Hundreds of inmates were attended to and many responded to the invitation to Tl¥e Jesus. Financial review . Going concern After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial statement& Further details regarding the adoption of the going concem basis can be found in the accounting policies. b. Reserves policy The charity maintains free reserves to enable the charity to continue in operation for the short term. These reserves were diminished in the pandemic but are now recovering. The aim is to hold reserves equivalent to three months operating costs which is approximately £10.000. Currently. free reserves stand at £11,083. Page 4
INTERNATIONAL CHRISTIAN MISSION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 . Surplus for the year The charity achieved a surplus for the year of £10,193 (2022-£3,989). Of this. £2,026 (2022- £1.678) relates to general funds and £8,167 (2022- £2.312) to reSted funds. Structurei governance and management a. Constltutlon Intemational christs.an Mission is a registered charity, number 1080149. and is constituted under a Trust deed dated 20 March 2000 as amended by a Deed of Amendment dated 16 January 2016. b. Methods of appolntment or elecllon of TNstees The management of the Charity is the responsibility of the Trustees are elected and co-opted under the terms of the Trust deed. c. Organlsatlonal structure and declslon-maklng policies ICM (International Christian Mission) was conceived as a ministy umbrella under which many churches would be born. The first branch of the ministy. ICM Wye Pentesta1 Church, became Ashford Pentecostal Church in 2004 when the church relocated. To date. Ashford Pentecostal Church continues to carry all the weight of ICM. The Senior Pastor submits the vision and direction of the charity to the board of trustees vtho are then responsible for the overall decision making, staffing and expenditure. Day-to-day deasions are made by the Pastor, supported by the administrator, whilst major decisions are made together with the whole leadership team. d. Financial rlsk management The Trustees have assessed the major risks to which the Charity is exposed. in particular those related to the operations and finances of the Charity. and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Plans for future perfods Looking ahead. we are obliged to find new offices as the lease in Godinton Road is due to expire in October 24. In Qur search in March 24, we were drawn to an office in the town ntre with a relatively affordable pri. Unforbjnately, we were unable to commit to it as we still had seven months left to run on our current lease. We will resume our search over the summer in the hope that our forthcoming move will be smooth. In the long-term. we are praying and believing ft)r our own premises, which can accommodate our worship services and offices under one roof, as well as allown9 US to expand our community outreach. Our Building Fund saw a miracle of a large one-off gift and vrfe pray for many more such miracles in the coming years. Securing a pemianent place of worship in a convenient location will facilitate the work of the ministry, increase the bond of fellowship, and maximise the effectiveness of our outreach. In 2024, we are also planning to consolidate the leadership of Ashfofd Pentecostal Church by an official recognition of Iwo members of the Nepali group. one as a LeaderlElder and another one as Deacon. These two are actively working to strengthen this community which is a significant part of our church. Increasingly, Pastor Evangile, along with the Leadership Team, will be serving this local church while Pastors Enoch and Jeannine will be focusing on intemational outreaches. Page 5
INTERNATIONAL CHRISTtAN MISSION TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Statement of Trust88s' responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally A¢pted Accounting Practi>. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial vrfhich give a true and fair view of the state of affairs of the Charity and of its incoming reSoUrS and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102)" make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statemeni5- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient tc show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financia] position of the Charity and enable them to ensure that the financial statements comply wtth 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 hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 3 August 2024 and signed on their behalf by: Mr H S Critchley (Chair of Trustees) Page 6
INTERNATIONAL CHRISTIAN MISSION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independent examinerfs report to the Trustees of Internatlonal Christian Mission ('the Charity. I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023. Responsibllltles and basis of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Acf). I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and in carying out my examination I have fdlowed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independont examinerfs statement Your attention is drawn to the fact that the Charity has prepared the accounts in accordan with Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Repo"ng Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounling and Reporting by Charities: Ststement of Recommended PractiGe issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015, I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or the accounts do not accord with those records: or the accounts do not comply with the applicable requirements conceming 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 fairf view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matter5 in connection with the examination to which attention should be drawn in this report in order to enable a proper underslanding of the accounts to be reached. This report is made solely to the Charivs Trustees, as a body, in accordance wth Part 4 of the Charities (Accounts and Reports) Regulations 2008. My Vrk has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent examiners report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyon8 other than the Charity and the Charitls Trustees as a body, for my work or for this report. Signed.. Dated: 20 September 2024 Andrew John Childs. FCA Magee Gammon Corporate Limited. Henwood House, Henwood, Ashford, Kent, TN24 8DH Page 7
INTERNATIONAL CHRISTIAN MISSION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Investments 8,655 602 50.989 59.644 602 49, 149 134 Total income 9,257 50,989 60,246 49,283 Expenditure on: Charitable activities 1,090 48,963 50,053 45.294 Total expenditure 1,090 48.963 50,053 45.294 Net movement in funds 8,167 2.026 10.193 3.989 Reconciliation of funds: Total funds brought forward Net movement in funds 35.755 8,167 9.639 2.026 45,394 10,193 4q,405 3,989 Total funds carrled fonmard 43.922 11.665 55.587 45,394 The Statement of financial activities indudes all gains and losses recognised in the year. The notes on pages 10 to 19 fonn part of these financial statements. Page 8
INTERNATIONAL CHRISTIAN MISSION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note Current assets Debtors Cash at bank and in hand 10 1,361 55,883 1,589 45,399 57,244 46,988 Creditors: amounts falling due within one year (1.657) (1.594) Net current assets 55,587 45,394 Total net assets 55.587 45,394 Charlty funds Restrtcted funds Unrestricted funds 13 43,922 11,665 35, 755 9, 639 13 Total funds 55,587 45,394 The financial statements were approved and authorised for issue by the Trustees on 03 August 2024 and signed on their behalf by: Rev Dr E Rubaduka (Chair of Trustees) Mr H S Critchley {Trustee) The notes on pages 10 to 19 fom part of these financial statements. Page 9
INTERNATIONAL CHRISTIAN MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General information Intemational Christian Mission is a charity registered in England and Wales under number 1080149. The principle office is 1 st Floor Offices. 162 Godinton Road, Ashford, Kent TN23 1 LN. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102} - Accounting and Reporbng by Charities" Ststement 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) (effective 1 January 2019), the Financial Reporting Stsndard applicable in the UK and Republic of Iland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effectNe from 1 April 2005 which has since been wtthdrawn. Intemational Christian Mission meets the definition of a public benefit entity under FRS 102. Assets and liabilities are intbally recognised at historical cost or transactTron value unless otherwise stated in the relevant accounting poli. 2.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receNable can be measured reliably. Grants are included in the Statement of finanaal activities on a re1vable basis. The balan of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheeL Where income is received in advance of entidement of receipt, its recognition is deferred and induded in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 2J Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefft to a third paty. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activty. The costs of each activity are made up of the total of direct costs and shared costs, induding support costs involved in undertaking each activty. Direct CA)sts attributsble to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis ccnsistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asseys use. Expenditure on chaiitable acttVFties is incurred on direcdy undertaking the activities which further the Charitys objectives, as well as any associated support costs. All expenditure is indusive of irrecoverable VAT. Page 10
INTERNATIONAL CHRISTIAN MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢counting policies (continued) 2A Interest receivable Interest on funds held on deposit is induded when re1vable and the amount can be measured reliably by the CharÉty.' this is normally upon nortiOn of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Gift Aid Where the right to recetve Gift Aid ha5 been established. the amount re1vable is reco9nised as investment income in the SL3tement of financial activities. 2.6 Debtors Trade and other debtors are recognised at the settlement amount afler any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi 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 2.8 Liabilrties and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlemenl and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charty anticipates it will pay to settle the debt or the amount it has reTrived as advanced payments for the goods or SeNiS it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the psent value of those amounts. discounted at the pre-tax discount rate that reflects the risks speclC to the liability. The unwinding of the discount is recognised in the Statement of ffinanal activities as a finance cost. 2.9 Flnanelal Instruments The Charity only has finanaal assets and financial 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 bank loans which are subsequently measured at amortised cost using the effective interest method. Page11
INTERNATIONAL CHRISTIAN MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢countlng poli¢ies (contlnuedl 2.10 Penslons 2.11 Fund accounting General fund5 are unrestricted fijnds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted frjnds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specffic restriciions imposed by donors or which have been raised by the Chanty for particular purposes. The costs of raising and administering such funds are charged against the specific fund. Tre aim and use of each restricted fijnd is set out in the notes to the finanaal statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Restrlcted Unrestrlcted funds funds 2023 2023 Total funds 2023 Donations Similar incoming resources 8.655 50,883 106 59,538 106 8.655 50.989 59,644 Resfricted Unrestncted funds funds 2022 2022 Total funds 2022 Donations 4,255 200 44,694 48,949 200 Grants 4,455 44,694 49,749 Page 12
INTERNATIONAL CHRISTIAN MISSION NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 DECEMBER 2023 Investment Income Restricted funds 2023 Total funds 2023 Bank interest receivable 602 602 Restricted funds 2022 Total fvnds 2Q22 Bank interest receivable 134 134 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestri¢ted funds funds 2023 2023 Total 2023 Charitable activities 1,090 48,963 50.053 Restricfed Unrestncted fiinds funds 2022 2022 Total 2022 Charitsble activities 2,379 42.915 45,294 Page 13
INTERNATIONAL CHRISTIAN MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Anatysis of expenditure by activities Activities undertaken directty 2023 Support costs 2023 Total funds 2023 Charitable activities 27,221 22.832 50.053 Actiw-ties undertaken directly 2022 Support costs 2022 Total funds 2022 Charitable activities 25, 370 19.924 45,294 Independent axaminerfs remuneration The independent examinerfs remuneration amounts to an irKlependent examiner fee of £1.452 (2022 - £1.460J, and payroll services of £516 (2022- £558). Staff costs 2023 2022 Wages and salaries Contribution to defined Gontribution pension schemes 28,135 678 24,929 589 28.813 25,518 The average number of persons employed by the Charity during the year was as follows: 2023 2022 Pastoral Administration No employee reiVed remuneration amounting to more than £60,000 in either year. Page 14
INTERNATIONAL CHRISTIAN MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2023 Trustees, remuneration and expenses During the year, one or more Trustees has been paid remuneration or has receNed other benefits from an employment with the Charity as Pastor. The value of Trustees, remuneration and other benefits was as follows: 2023 2022 Dr E Rubaduka Remuneration Pension contributions paid 19,800 678 17,784 589 During the year ended 31 December 2023, expenses totalling £Nil were reimbursed or paid directly to no Trustees (2022 - £53 to 1 Trustee) in respect of their duts.es as trustees of the charity. The expenses relate to reimbursed out of pocket expenses, which can indude travel, conferences and other expenses. 10. Debtors 2023 2022 Duo Within one year other debtors 1.361 1,589 11. Creditors= Amounts falling due within one year 2023 2022 Other taxation and social seajrty Other creditors Accruals and deferred incorr 103 95 102 1.452 89 1.410 1.657 1,594 12. Financial Instruments 2023 2022 Financial assets Financial assets measured at fair value through incorrE and expenditure 56,883 45,399 Financial assets measured at fair value through income and expenditure comprise of bank and cash balances. Page 15
INTERNATIONAL CHRISTIAN MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Statement of funds Statement of funds - current year Balance at 31 Dacember 2023 Balance at 1 January 2023 Transfers inlout Income Expenditur8 Unrestricted funds Designated funds fvlission fund 576 (1,074) 1.080 General funds General Funds 9,063 50,989 (47.889) (1,080) 11.083 Total Unrestrlcted funds 9.639 50.989 (48,963) 11,665 Restricted funds Building Fund Disaster Fund Boxes of Hope 34,889 8,983 239 43.872 {239) (851) 35 50 35,755 9.257 (1,090) 43.922 Total of funds 45.394 60.246 (50.053} 55,587 Page 16
INTERNATIONAL CHRISTIAN MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. statement of funds (continued) Statement of funds - prior year Balance at 31 Dember 2022 Balan at l January 2022 Trnnsfers in/out Inrne Expenditure Unrestricted funds Designated funds Mission fund 584 (694) 686 576 General funds General Fund5 7.379 44, 694 (41. 830) (q. 180) 9,063 Total Unrestricted funds 7,963 44, 694 (42.524J (494) 9.639 Restricted fun(ts Building Fund Mission Fund Disaster Fund 32.082 2.807 116 535 759 34, 889 (390) (535J (828) (1,017) 274 RwereTe Fund Boxes of Hope 69 q51 1,360 372 866 33,442 {2, 770) 494 35, 755 Total of funds 41.405 49,283 (45.294) 45,394 Page 17
INTERNATIONAL CHRISTIAN MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14. Summary of funds Summary of funds - current year Balance at 31 December 2023 Balance at 1 January 2023 Transfers inlout Income Expenditur8 Designated funds General funds Restricted funds 576 (1,074 {47,889> (1,090> 1.080 11.080) 582 9.063 35,755 50.989 9,25T 11,083 43,922 45.394 60,246 (50,053) 55,587 Summary of funds - prior year Balance at 31 December 2022 Balance at l January 2022 Transfe in/out Income Expenditure Designated fvnds General fijnds Restricted funds (694) (41,830) (2.770J 686 (1, 180) 494 576 9,063 35, 755 7.379 33.442 44.694 4.589 41,405 49,283 (45, 294) 45,394 15. Analysls of net assets between funds Anatysls of net assets between funds - current year Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Current assets Creditors due within one year 43.922 13,322 (1,657) 57.244 11,657) Total 43,922 11,665 55,587 Page 18
INTERNATIONAL CHRISTIAN MISSION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. Analysis of net assets between funds {continued) Anatysis of net assets between funds - prior year Restricted Unrestricted funds fvnds 2022 2022 Total funds 2022 Current assets Creditors due within one year 35, 755 11,233 (1, 594) 46,988 {1,594) Total 35, 755 9, S39 45,394 16. Purpose of funds Desi nated funds The Mission fund represents amounts set aside by the trustees to be used in support of the overseas Mission. induding supporting widows and orphans in the Congo. The transfer from the General fund to the Designated Mission fund represents the amount set aside monthly by the church to cover the children's school fees. Restricted funds The Building fund repsents amounts reiVed towards the cost of purchasing a pennanent building. The Mission fund represent amounts reiVed to be used in support of the overseas Mission, including supporting widows and orphans in the Congo. The Rwerere Fund was to provide support to Rwerere in Rwanda Tre Boxes of Hope fijnd was to provide parcels to children and familities without the bare necessities. Tttese parcels contained food supplies for the whole family, essential household items, activities and wellbeing resources, infomiation on other support and messages of hope. ICM is one of 244 churches in tho UK partnered with TLG to deliver these parcels. 17. Pension commitments The charity operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the charity in an independendy administered frjnd. The pension cost charge represents contributions payable by the charity to the fund and amounted to £678 {2022 £589)- Contributions totalling £102 (2022 - £88) were payable to the fund at the balance sheet date and are induded in creditor5. 18. Related party transactions Other than the transactions disdosed in note 9, there were no tran5action5 With related parties in the year (2022 - none) Page 19