THE APOSTOLIC FAITH MISSION UK LTD l A company limited by guarantee ) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 CHARITh REGISTRATION NUMBER . 1087489 COMPANY REGISTERED NUMBER . 04139551 THE APOSTOLIC FAITH MISSION UK LTD IA company Ilmlted by guarantee) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 CONTENTS PAGE Rof8rnnc• and admlnlstratlvo d•talls of th6 ¢haTIty, Its Tru8ts•$ and advl#•rn TruAt••s' r•port Ind•p•nd•nt *udttors' r•port on th• financial stat•m•nts 9.12 8tat•m•nl of flnan¢lJl actlvttlel 13 Balance Shtèt 14 Statom•nl of cash flow* 15 Not•• tr• th• tlnanclal stal•m•nts 16-27 THE APOSTOLIC FAITH MISSION UK LTD IA Company Ilmlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARiri, rrs TRUSTEES AND ADVISERS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 CHARITY REGISTRATION NUMBER: 108748Q COMPANY REGISTERED NUMBER: 04139551 REGISTERED OFFICE: 13 Penhill Road Bexley DAS 3EP TRUSTEEE8 Rovergnd Olatokunbo Balogun Reverend Mark Sinaanoda Mfandarohw818ppolnted 27 July 2022) R¢V9￿nd Fr¥nci8 Olanrowaju Odudu R8v8T8nd Toyin Olushola Emilolg R¢verond La2aru$ Slmb8neoavl CHAIRMAN OF THE BOARD Reverend Mark MfandaralThYa CORPORATE SECREfARY Rovorond Toyln Olushola Emltolg CORPORATE fAEASURER Ro￿rand Frands Olanrewaju Odudu ACCOUNTANTS May & Moy Chart8T8d Man8gemgnt Accounlants 1 Cookson Grove Northumbèrland H8ath DA8 1YE INDEPENDENT AUDITOR3 Stephen MIGhaal Assodales Chartèred Certified Ac¢ountant8 Slalulory Audllors 201 Borough High Street London SEI IJA BANKERS Barclays Bank plc 20 Bortsugh Hlgh gtr••t London SE11LY Page 1 THE APOSTOLIC Fpmi MISSION UK LTD (A ¢ompany Ilmltod by uuarants•) TRUSTEE6' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Twstees presÈnl theirannual report tc¥etherwth the audiled finanoal stoiements of tho church from 1 January 2022 10 31 Decemb8r 2022. Th• Amnu&l rgport sery￿ the purp08eB of both 8 Truslees, r•pDrt and 8 flirgthrs, rep¢yt underoJmp8ny law. Th¢ TnJst88$ tonftmilhat Iho Annual rewiand fln8nclal 8tAtwrthts olth• tharltabl• CDmpany complywtth tho currant r8qulrements. the requlrements oltha chgAt8b¢è tornpany8 otsvemlng dccument and the prowstr￿S of Slalevnent of Recomm￿ded Pr8cllce ISORPI applicable to tharib•s preparfng thelr accounts In a¢￿rdanc8 tho Flnandal Réporlw Stand8rd applkable In the UK and Republic of Ir818nd IFRS1021 leffedve 1 January20191. Slno thp churth qualffl&B as small t4ftpanyund8rs8ctltsn 38& Ihg str4teolc report wulr8d ofrn&Jlum aThJ18rg• comp8nie8 und6rThe Corysni85 Act 2006 Istraleglc Repyt and DirtGloI5 Report) RegUla￿OnS 201318 not wwed. Objectr￿a •nd A¢tlvltl•s POLICIES AND OBJECTIVES Our prim8ry oblaclive 59 to M•k lh• 4dvonc•rr*nl ol Iho Chrfsdan r•llolon in accordance wilh Ih? pr88chlng ol th• falth of th• g8rfy *$U08 •nd wherov&r po865blo, edu¢8te people uilng the Word ol God as our guide. W• alm to establlsh and manag8 8chools, al￿# seh¢)ols, vocat*ono1 Blble sGhoolB, corresponden¢e o)ur8•s. and to tOaL* rdknlous knowledoe In sehods. InsllUtitin5 and th8 I￿￿*r cijmmunlty. The thurth hog adoptod the followng ¥tr•t•gie8 forachi¢wng rfs ebjectiv88.' E8tsb116h and Support br8ncho6 Dnd Blble Study centres &8 doge lo rnembers 88 PJ5snJle'. . Organ1¢• •tr001 gvgnts whoro froo Chrf8Oan Ilt•r•tyJrv rnJl•rfal• aro dl•lrfbuted; Vlslt Prfsons to share the Word of God., Support other charilies and Chri$lian •v•nl¢lorg¥nlsaUon$'. Bu51d Ind MtDbliJh a Jjolld r¢labonthSp ￿1h lh• local Mmrnunlty,. 0ry8nlae perfodic Mu$i¢al Goncerts ond perfom8nc*s wtthln the ¢Dmmunltyfor the benefits ol m•mb•rs ol the Church and tho communlty., and 8uFg0rt sisler thvrche9 y￿ffe￿n9 from natural dlsastorn aryjlor havkn9 m*r bulldlng prCi￿￿ ¢. ACTivmES FOR ACHIEVING 08JECTIVES In order for lh• Church lo achlova Ils obieruves, durlThJ the ygarwg held Sunday School dasses for age every Sund8y: we d80 held wa¢knlqhl 8lble 8DJdkn and Prayer meelnGs. An enduthg PD¥11fv8 8Hectof COV1ts1918 th• •thant8g• that we hava lakan ofth¢ bendl$ of eleetroni¢ m•dla by conllnuln9 to outto a l•rggr4han pr•4OVID rfrtuol oudlon¢o In mo8t of our sDrvlcu and olhgr Mm￿￿nIty. talored oulrnDch ar11￿1￿. We hav8 thus be8n able to Wad) ts￿10 a great nuffjl)er ofpeople ￿thIn and ￿YOnd th• UK, forwhom thos8 M￿ting5 have contlnu8d (o be a b196slng. THE fvPOSTOLIC FATh MISSION UK LTD (Acompany Ilmlted by guarant••l TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Chlldren's programry￿8 such as mugc W￿rts. Celebration ofLSghL Ba(* To Srthool, Chlldren's Day and stage ￿ayS wore pr050llted at ¢lTtereni T(m8s In Ihe yoar, Induoing East8r and Chdsrrnag $8asons. Durfng thè yearwe held weekly and monthly youlh aclMtse8, an ennuDI sruth camp and Single$ Ctsnferen¢e. Equal￿. dunno the year, Family Fowm$ oj ￿11 as conferences for Mon, Wcfn•h and Cwple5, wer• held at dwf8f8nt￿mfj8. to engend•r god8lLryaUon 8nd btsAdlng amon& memborn. Al ofthese merfir¢• and oven18 wer8 htr*w¢r held vlrtualty aTchlve %Adeo$ and Advlliu wdl mlxgd. d. PUBUC BENEFIT STATEMENT Th8 Board of TrustÈé$ ¢Dnffinn that they have met tholr dul•s in glrict complLqThce ￿1th the provfyigns of $oCtk)no 4 8ThJ 17 of th¢ ChArib08 Act 2011. end h8ve had dua ragArdt to Ihe Charity Commis?ion's g8n•r81 ouidanGe on putA benefrt. Pard￿[￿r con8idgration has beYJn glvan to the Charity ¢¢ml$slon's suprAomorrtary publiCguidpn￿ yovJslGffj8 on thè adVan￿ent of rg1lg1￿ lorpublic benefit In 5etUng obJ8dv8s gnd pl¥nnlnB for acUvMg9, th8 Tw8toeg h8ve gN•n due c0Th61deraUefi to goneral guldan¢• publl$hed by Ihe Charfty Comml8olen reluting lo public b•ngnt, Indudlng th8 guld)nGe'Public btn•fiL runnlnq a charlty IPB21'. •. VOLUNTEERS Thg GhuTch values the efforts ol Its volunteern.. It 58 e8lmiltd thal owjrlhe yeorourvoluntows dedleatsd ow 10,000 hours b Chvrch work. If Ihi81& cens8rvgUvolyv8luo0 81 £IO.IY) per hour, the volunteèr dudng the sear amount to over £lOO.000 Whlla th• volunteers do not reeeSve 8nyreoulgr incorne. Iheyar¢ $upp¢rt•d with 5ubJi8tence ¢>)¥erfng transportauon nd f8•JSng whlla on duty. hhv•m•nts and perforniane• . KEY FINANCIAL peRFOR1A￿leS INDICATORS Att•ndane• gt Wggkty rn9glngG ano Olhor •v•nts Voluntary donulion#- Tlthe$ •nd ofi•rings Glft ald Incom• P•rc*nwts of Ext•ThJMure to Incty b. REVIEW OP ACTivmE$ Communty outr•ach 1 Blblg Study W• held ￿rtUal m88dngs lIu￿￿h￿Vtthe year, that comblned m¢rnbET8 Irvrn all our 8rgneh98, GmupB and Bible stsjdy c•ntrès. induding Aberdeen. 8oyJ•y, B8d(enham, Birmingham. 8rfstdlCardiff. Chingfo￿, Coventsy. Edlnburgh. Glasgow, Haeknèy. Leko8ler, Manchester, Ped(hAm. RoEh8$t8r. Su888xas well as our brancheg cutslde lh• UK. In¢4udlng France, Republlc of Irelpnd, D¢nmgrk. Sp8in and Germ8ny 2 Home• lorTh• Eld•rly a Prl•on Evang•llirn Wo r¢sun￿￿ our vlBlts to Hom9$ f¢rthe Eldedy and Pri8on8 Ourfng Ihg yaor. Spe¢Mcallyi Wil V16ii¢d a nurnber ol Home¥ for the eiderfy on Ghrf8lm08 day. bvheio we Sang an¢J playe¢J Chrf8th)as forthB residents and 8tsff. PogB 3 THE PPOSTOLIC FAJTH MISSION UK LTD {A eomp•ny Ihli•d by gu*rontMI TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 3 Chlldr•n *4tlvltl•8 It18 ourbdletthat when thlldren are laught earlythe Word of God and ate broughtup in th¢ wayof Ihe Lord, Iheyvlll grow up to make a bgtter society fjn the future. It Is wlth th18 atthe back uf our mind Ihat we regularfy organ15e sp8clal •utr•adw for Ouf thRdr•n in lh• Ghurth and the c¢mmunlll•J whgro our branc* churcha8 are located. AC￿rdIr￿JIy, durfng the yew, In addluw to ourwMkty ¢hlldron 8und•y 8GhoG4. ¥Yd held act1￿1185 Ikxe Mu81c Work8hops. 88d( To SCI￿￿1 Lunch. Lef8 cetebrata Ught aThl ChlkJr•n'$ D•ywht¢h ￿re 9•norOu￿yattOhd0d by chlklren, parnn18 8nd carèts wilhin our cornmunlues. c. INVESTMENT POUCY PERFORl•lPJ4CE The Tnwtees have dOryd￿ that el pr09tsn( fvnds should be rth.ned In118 CLwrent ond No Nolk• aeethntsknlth B8rd&y8 Bank PLC, while efforts 8r8 b8ifVJ m8d8 to seek olher $ullabl8 bank5. Tha Trustoos VAII 8oreo 8nyth8ng& Sn w¢h bon￿ng orrono$rnen18. Ao hr •• pos8ibl•. fund8 VAII ￿ retsinad in Inter￿1 bearing aco)unts. Flnan¢l•l rnvl•w •. GOINO CONCERN Aft•r maklng appropA8te •nqulrfe$, th• tnssl••$ hav8 8 r8880nable exp8ctatk￿ that th• churth has 8dequ818 rewurc48 to conlnug In oper9u￿oI ¢￿￿ten¢¢ l¢rthe l¢yesee8ble fijture. Forthig re890n they rmttnue to Bdopt the going ￿nCern bas1$ th ￿¥￿arfng the st319mgnts. Furfhor d8ts11s rBgardkng thg gdopllon of the going ccaeem bas19 c*n bts found in the A¢￿VA￿n9 Pollcia b. RE8ERVE8 POLICY In• trusiu$ n•v• astaDILlhed o policy wnereDy unr•$Mcw wnos nol wmrNttwJ or InvKloa In tanolDIo IIX•O 88Bets Clh8 frge re8gNe8'1 held by the church should b& 8118881. 3 month8 of 8nnu81 oxp•ndthJr8. At lavel. lh• tsu$t•¢$ feel th•1 fftoywc*Jkl b• a￿$ to con&M• thg ¢urrgnl actMl•s 01 th• ehureh in th• évont of A g￿nIt￿OnI dryJp In Jlno. Th•fr•• T•A•rv• •t•nd• •t £1.136.322 (2021- É891.2171. REWEW OF THE FINANCIfvL posmoN The churth Is financially stsblv. We were a￿& to oeneratsthe 8am9 level of In￿me 88 In IhB pmryear G. PRINCIPAL FUNDING 18 provkled malnlythrouoh yoluntaryllthtss Bnd offedngs olven bychurch members 8nd Ihrough • UWI ald schem8. ApBrt frorn Ihls, vduThtary dadoos #rè taken far wlfl¢ prolgets. Pago4 THE AP05TOLIC FATH M15510N UK LTD (Acornp8ny limited by gulranteel TRUSTEES. REPORT (CONTINUEI)) FOR THE YEAR ENDED 31 DECEMBER 2022 Slructure. govem8nc• ahd mshxgam• Tht churd) is a charitable c4Jmpany byguarènle• and wa5 SBt up by a Memcfandum of A350riation on 20 Novambor 20trJ. Thè ¢hurch 1$ ￿n911bj￿ under a men￿?￿ndUm ofA•sodakn doted 20 Nov•Th*•r2000 •ftd i• • r•oist•r•d ¢hority wth number 1087489. The ch?rll•bh compan15 Articl88 OfAB￿alIan wa8 8m8nd8d on 11th June 2022 and flled ¥wth th• Cornponles H¢xJ8a on 23rd June 2022. b. MEYIIOD OF ￿NTmENToR ELECTION OF TRUSTEES The direclvs ar8 co-op¢gd underihe tem8 ofth¢ Afadgs ofA8sodAlon. Th•Tru*88s 8r• re8pon8itA8 the management oftha Church. . PQU¢IE• ADOPTEP FI)R ThE INDUGTION ANO TIIAINING OF TrUSYEts PolldèB and Pftt¢èduwi f¢r kndud¢n and tsaining oflN8t••g h￿Ude r•9ularT￿h•rn Conlérnne•, Work•hop, Mlnlit•rfal Tralnlrs, •liend•nce Bt Annu￿ Nouond and InIema￿On8I C¥ny M••bng8 orgenle•d by the Charity. d. PAY POUCY FOR SENIOR 8TAFF OTrly the Dlstrlct supertn1￿d•nI Is on 8 rogularstruclurod pay kn addition to th• Roltf8d Plone8r ￿￿tor, R8v. Mct Oku88nya wh? l& ror￿l￿n0 • m•lntenanGe slypend. •. ORG*JIISATIOM*L STrUCTURE AND DECISION MAKING Tho TN8t•88 afe r08pon8lt40 forthe church'y overnll govemonce. The dBy to daymBnaoemenl of the Church ly d•l•g•t•d to th• P••lor•. Miniatorn, H•ad8 olvanoui dèpartmènts, and volunl•eN. f. CONNECTED CHARrnfi¥ Thè thurth rèport$ ill Its activSlle• Includlng acqu¢8lUan of prop•rU•6, fin•nclal •iat•rn•nl8. and any major und•rtaWngs lo the Intemalton•l Htradquarters ltt po￿8nd Orallon. U.S. R18K MANAGEMENT Thè TrtIat￿ hav8 QS98ssed Ihe Tr¥jor risks to which tha thurth is e￿O$ed. in paiticularthoso 18lat*S to th pemUoTh¥ and flnan¢BS of Ihe ohur¢h. and SO￿¥￿¥d thal $y¥temB 4r0 Sn place io mwgate ourwo8ure to the m8k ks. P•90 5 THE ￿sToL1¢ FAITh MISSION UK LTD (Acompany limli¢d by gugr4nto•1 TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Plan> forfuture perlod a. FLrruRE DEVELOPMEIU8 W• Af• $88rchlng for pr•mls8s to buyforour8nnu81 camp meeung convention. We are pra￿ng Ih8t God wlll •statilish our IxanGhe$ and provld• Ihèm their ¢)vm p1v￿¥ of w¢xshtp ero thay currènU¥ make use of ￿nted 18c511￿85. FUNDS HELD AS CUSTODI ThB church hekl £61,895.93 {£49.2121 In 8 dedtated cuTh8ncybank account at th• •nd of tt)• year as Inl8Thdiaryfor the bgr>gfi1 of Apodolic F8lih Wg$lon Etsropg. Thg fund ts nol Indudad In thi8 fiftaThci•l st•tement bacats88 th8 churth is onty adng 8$ 8 cu8t￿lan and Is not involv•d in ihe declslon makSng regordlw Iho dlsburs&ment of the lund. MEM8EW8 U￿lL1T{ Thg TruBiees of the ch￿￿ guarpntee to cJ)nlrfbute en 8rrthnt not exceeding £1 to the 858ets of the churth in thè ev•nl of ￿fidIng up. EVENTS 8UB8eouENT TO ThE FINANCIIL YEAR IND N¢)n•. PaB•8 THEAPOSTOLIC MISSION UK LTD (A Company Ilmit•d by guarant••l TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 TRUSTEES. RESPONSIBILITIE5 STATEMENT The Tru•i••s (who ar• a180 dlrndore ofThg A￿$t011¢ Farth m￿1n UK for the puw¢$ of company l*wl Ar• r08ponsl￿t forpreparfnll the TnJ¥tée8' feJ)ort and Ihe financlal statements In serAydon¢e uAlh aprJlc•bh law •nd Unitèd Kingdom Aecoundng StBndoTds (United lfjnodom Genernlly Accopled ACC￿n￿n0 Pr&cU¢tl. Company law rwir85 Ihe TnJ8te8s to prepare fin•nrJ•l gtalements ffx eaeh ffinanrA41 y•ar. Under cornp8ny18w Ihe TN6tees must not approva the financlal statsments unless they are saU8ffod thatthey glv¢ 8 true and fairview of the Btale of affalrn Df the shantable tsjmpany and of Ihe InoJmln9 resource3 and applkauon of resourt8s, Induding lh8 Incorre and expenciiwr8, of Ihe charit8bl8 wmp8nyfor that P8rirx1. Ill pr8p8ring th88e flnanclal slatements. the TN8ts08 are roqulred to.. 8alect sultat￿o aocwntlng p￿￿•3 and thon apptylhom eon#l•tsnltr, Ob￿￿¢ Iho molhodj ond prin¢iple• In iho Chgrib•• SORP.. *i•tg wh•th•rsppllcabl• UK Accounting Sl•nd8rdi ha￿ b••n lolbw•d, 8ubl•d lo •nymat•rt•l d•wrtur•• di8dowl and explalnad In Ihe flnondol stalen￿19.. prep8rn Iha ffinanuBI slalgm8nt8 on th8 golng fnncem b8•i• unle61 st w Inappro￿•te to pmume that th• tharltable curyny ￿11 c(JnUnuo In oparauon. Th8 Tw8tees ar8 re&ponslbl• for k•8plng ad8qu8te accounting r8cDrd$ that are 5uffid8llt to 6how and eyplaln tho chontable ¢ompanYs trbn8adlons and 6lsd05e with reasonable 8Gcuracy at any time the financ481 posits￿ of Ihe h&rflobl? company and enable Ihern io ensure that the flnandal stalemenl8 the Companle5 AGI 2006. They are also responslble for salegu4Td¢ng th8 ass•15 01 thg charitabl• Company and h•nc4 for takirvJ rgxEonablq ¥t•p• forlh• ￿V•n￿on ond d•l•¢lon olfr•ud and olh•rlrr•qul•rftlM. D18CLOSURE OF INFORIAATION TO AUDITORS So far as ¢•¢* of Ihg Tru¥ie•• l¥ owar• 4t Ihe the rep¢rt18 •pprav•d.' there Is no relevant gudtt Infomiguon of whlrh thg L4llpgnl8 8udIt0￿ unaworg, and th8 TruÈtaas havè takèn #ll steps th81 they ought lo hav818k8n lo m8ke them88lv8s 8w&re of 8ny relevant audll Irf0m￿ltsn and to estsblish thgt the audrtor8 arg Dw8Te ofth8t Infomgty"on. PEge 7 THEAPOSTOLIC FAITH MISSION UK LTD IA¢ompgny IIMh￿ tsy gUor•nto01 TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 AUD￿oRs Thfj ¢hurthb audthrs. Slephen M*hg01 havè IrpJicateO lheIr￿111n9n8SB b) Mntlm* In thcè #nd ¢)ffer thèmselve5 lor ro appolntmgnt at thb nox¢Annual Gènèral Moeung. Approv8d byorder o¢th• rn8rnb8rn of tha board 0fTry5tq￿ 4nd 51gn8d on thek beh8W ty. Rov8rand Franc1$ Olanr#waJu Odudu Corporala TreE5urer Date: P8ge 8 THE ￿0$ToLIc FAJTH MISSION LIK LTD IAcornp4ny Ilmttsd by guarani••l INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE APOSTOLIC FArrH MISSION UX Oplnlon We h8¥• audtsd the finawthl state￿ontr olThe Apogtollc Fath ML%slon UK Ltd lthe'chaAtyI fortha >Barond8d 31 Dètamb8r 2022 which comprfs8 th8 Staternent of financial aclivflies, th8 Balance sheat, tha St8t8m8nt ol cash flows and tho Tolatgd notes, hiduding a summary of &9nificanl aceouftb.ng polidés. Th8 flnan¢l81 reporting framework that h¥$ b•on apJièd in Ihèir prepayatkn 5$ applicable Iw and United Kwdom Accounting Stsndard8. Indudlng FlnJndal R•portlng Stsndard 102'The Finanrl41 ROpo￿ng Siand8rd 8ppllcabla In lh• UK and Rapubll¢ of Ir•lthd' IUnlt•d Klngdom Genarally A￿pI•d AccountSno Prnctic•). In ouroF4nknn th? flnanc6al 818iements'. fve 8 Injo and 181rv￿orthe stale ol thè thBrSlabla cempBntyg affBlrs8s 8131 Deromlw 2ty22ar¥J ollts roswrc89 End apFllcaVcfj of resoutL*S. In￿u￿[n(l16 IrLome and e%pendtture Icf ltt&yaArtW 8nd8d: have bBBry prowrfyprepared In ettordonco With UnilvAI ifjrydom GenarBItyA￿￿pted Arwundry Pr8cks'. havo Fwred In iGryJrd•nc•wilh th• rtyutr8m8rts ofth• Ccfflpan￿8 Ac¢ 2 Bul• of oplnlon W• con¢AJci*J ewgudk In aceud¥nvo wth Intgm•lono1 Stondgr¢B on Audwng IUKI IISM (UK)) ond iWlcabl8 law. Qur pond￿111￿4 und¢r Ihots *ts)ndordi tré fijruwr d••erfbéd In th knitorA' réiponAbllitéifty tho •udil ol th• fin•ncTal ststemen ¢tlon tsf our Mport. We •r• indopondanl allhe thiritable wmpBnyin 4GwdanGvwith the requirw￿n10 trwl are relevant to our audit of the fin8nds1 glelamonts In thè ur￿tsd ￿ngdorn, IndudwLg the Finanryol Rwllng Coundli Ethlc•l Sl•nd•rd. •Trl have fiJlflll8d ￿r ott)&r alNC￿ r•#pun￿b]IttlOS In accord•n¢• th900 rwu5r•M0n￿ W8 boll6vo Ih•t th• audtt wldonc• hA Conclu•lons r•latlng to golng conc•rn In audluno tho flnanew 8lat8rn8nt8, we h8v8 Lyjnduoed th8t th• TrJ￿•ss, ug• oftha golng coneam t4è18 ofxttountino In preparn￿On of Iho flnandal 81•lemth7ts1g apprcyrfAt•. Based on Ihe work we h8v• p•rf¢M¢d, WO not Idonuftod gny mpiorial ￿n￿rt￿[n￿o¥ rdpllng ¢0 O￿nIs or r¥Jn¢JlUon? th&1, IndI￿d￿lIlY or Gollethely, may casi signinc8ni doubl on Ihe ch8rtt8ble comg8ftls 8bllty to ¢ontlnuè a8 a gdng concorn for a pèrfod ol at least hvelvo rnonlhs Irorn wh•n Ih• finandal stat•nwts 3r• aulhortsgd for lssuo. Paoo 9 THE PPOSTOLIG FAMI MISSION UK LTD {A￿MpanY lJrnlt•d by guarant••} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE APOSTOLIC FAITh MISSION UK ICONTINUEDI Aa•d cn th• ￿ underluken In the course ofth8 aud Iha Infom￿0￿ ¥v8n Trujleei, reportfwlh• fin•nd•l s*•rlorwthlch th•fln•n&•l *i•l•m•nli Jr• prwjred l• cLww5t•rrt th th• fknand81818lem•nl•. lh• TnAloDB' rnport w t4en wpJr•d th acwdgnc•wth •pWIc4￿O leyd r•qVweMen￿. Mlltt•rn whlch w• •r• r•qulr•d to r•port bY￿6•ptIOn In Ihe lighl ol Jjr knth￿ed9e 4nd undèrstsndlng of tro ch8itlBbl8 fAJmp8nyard fts en￿rOnM8ntob1aIn•d In tho eeAtr of thB 8udil ha* nOt1den￿ed malerfal m198tatsmonio In Ihg TNslo09' roporL adgquaw ac￿nINg ￿LyJTd5 have not been kapi or rolums adeouale lorour8udil have nol been receSved fr branches not visii•d by us.. ar tho finaneial statamènth ara nat In ¥room8nlwth th• •ceounb'ng rneord8 #nd robJm*', tsr c•rtaln dl6¢19guro$ of Tru•ts•8' r•mun•r•Yon sp•eM¢d bylw ¥r• not mBdo,' or we havo n¢¢ r¢¢•￿•d •ll th• Infom)•Von •nd •xplanaSons w• requlre for our audl the Tru3tee8 were not en￿'￿e1 lo preparn Iho fmanelal S￿l&M￿ntS In &¢eord•nce wlth the small c#)mp8nle3 regSm8 and take 8dv•ntage ol the 6rnall companles, ex•mpU¢ns In pr8parlng th? Trui19￿. report and from Ihg Tequlremenl to DrnDJf• 8 Str8leo1¢ reoorL P490 10 THE PPOSTOLIC FAITH M5SSION UK LTD IA eampany limit8d by guar4nt••l INDEPENDENT AUDITORS, REPORTTOTHE MEMBERS OF THE APOSTOUC FAITH MISSION UK ICONTINUEDI Repon#lbSlldes of Irultoos As eypl8inod rnore fiJI￿1n the Tru8t88s' rgspons1￿1￿Qs Btaterneni Ihe TN8t•ès (who are akn the dwedors ofthè tharftable ccfflpanyfor the purposos ol companylawl 8re responslbk for the prepara￿On of the finandal stAtemant8 and for ￿1n0 $Bti8fiad that thoy glvè 4 tnje 4nd 1811 w8w, and for8uch htarnal eontrol as the Trv¥t••¥ dat•￿n81* n8¢8688ry to onabl¢ Ih• y•paration or rthandol ¥t•t•m•nts ththt oro froD from matw¥Jl ml8Stot¢m•nL %th•th•r duo Imud or effor. In prwarlns the ffin&rKlal slal8rn8n¢o, TN8tees are rn8p0nsl￿• for abs￿Ing th¢ charflable companys abultyto conunue •$ 8 golno cone•m. di5clrAlng. 8% appll¢8bl8, mattoys r8laiwJ to going concem and uslng the go1ng conc•m bosls of accounlSng unlBs6 the TTUSteos eithor*ilond to liquldala the charttoble company orto ¢8888 operad¢n8. or h8v• rK¥ rna1￿￿c altemab*e but to do 80. Audltor•' r•sponslblIlll￿lorthè •udlt of th• financial 5tat•rn•nta Ourobierthv88 arÈto oblJn roa50nabl8 8Ssurance abJrt whett)erthè fin4nGi¥I s14￿M￿ts 4 ￿￿01￿ Br8 fr88frThn rn818rf81 mlsstst•m8nl. whather due lo fTrud or •rror, and ¢0 I$$u6 8n A￿JIlorS. r•port Ihal Inelud05 oplnlon. ReA￿nAbl& aGGuran¢o Is 4 hlgh of aÉsur2nco, but 1$ o 4u&rgnl•• thql An Aud￿ COnduc￿d In AccordAnr*￿lth IW IUKlwiN th8yB dthct A mat•no1 mliNIAt4mwt*t*n It•￿#t8. MIBKIAl•n•nh ean frnud w mrand arfj ecffj1¢￿ mBt•rknl W, Ir#IN1￿•1￿ or Sn th• aggregol•, Ih•y eould 1•g￿nIb￿ bth o¥poct•d lo lnnue￿ thè •e4nomio die11￿￿• oly#grn tskon w the be¥1• ofih•a• financA•l Irreoul•th¥. In￿UdINg lrnud, ir• In•t•nwolnw Lwpll•nM vlth I•￿ •nd rngul•U•r*•. w•l￿gn pffj¢•dufw kn 1¢n•￿1h oJr r•￿￿￿lI￿e•, oulllned •bo¥•, ￿ d•l•cl tnalerfal m1astalBtn￿15 In lTrdudlng lrnud. Th• •thntw r prDc•dur88 4re cap8trA8 of d818cUrvJ 1rrngu1ort￿¢O, Includlw froud IJ d•tallod bèlo%Y. Wa k1￿￿11•d ar••$ of l•w re9uiatton8 Ihoi ewld re86wblyb• *y¢i•d 10 h¢¥• a mw¢rf81 gffedon tho finBnGiol 8t818rn8nt8 from wructor èyrf¢nce throu￿ ¢Jizcussion wlth the TTuale85 and othBr man8ggmentl8s requtred by auditing We had wBrd tolaws rWalons In aruÈ Ihat dhdty flttandal InrauOlrvJ flnand81 rewuro aTrJ taxthi l&alBlakn. W• ¢w¢kl•f¢d th• gxt•nl L￿¢•m￿lIn0*￿Ih ard i•V￿&b)n* 18 Part of WDc•dur• fel•l•d finindal Jtalentenl Items. Wmh tho oxeepiion of •Ay Dr PDBglblB nr￿ compllqnc4. rnqulr4d by•udillng •t•nd•rl•. ourwvkln M•F•Dt ol Ihg$• Ilmllgd to onwlry •1 ¢h• Tru•i•••. We gJmmunicalod ￿1￿lin1¢ IM and r•gutsuon• 1hrough￿l tyxlmm r￿n￿l￿•d to •ny ¢frrf)n Ihroughoutlh• audll. W¢ rnlnuts$ allw8￿•s, m8ellna$. •Th1 otherrecNl$ ¢n8urfnll thatthw• or• no uTrJlodoged lrnn•8Gtify)$. In oddllion. ￿ eyplaned the meankng of rdaled party Iransoctk)n lu minig•mqnt and the68 charoed with Wa addremed Ihi rfÈk of Ir￿d Ihrouth man5g￿ent overrfdo ofconM8. bytesung th8 opproprial•n•BR olioumBI •nlA•i and othor adliiBtm8nlÈ,' a8ft@ÈAlngthethorthe ludgem6nts made In maldng aceounung 8eUrnat* dre indk&bva of a potonlBI ￿3?. J ewéluating the ratbThala af aryÈvJNfic8nl tr8nsadw8 th81 gre unuw81 orr*Jtsld&tho Mrnial tr*JrAa ofbj￿r Our audrt wocedures were designèd lo resp￿￿ to risks of mat•rfal mlsstatem•nt in th• ffnanoal 51alefflenls. CTJgni6ing that tho risk of detecfjng 8 rnBtorial mSgBtstgmgnl due lo fraud ￿ higher thBn the rfsk ol not detecy ona ro*utbng frorn errw. as frnud may invofv• d•liborala concvalrnent by, for exa￿￿￿e. fDrg&ry. tnisrEpr•58filatK)ns through ¢ollu8lon. There bre Inhoront Ilmltalbn¥ In tha audll procedures Perfo￿9(1 and lh• furth¢rTwwed non OM￿lanCe wllh law8 and re9ulatlons Is Irom tha evèftts ond tr•ns•tUon$ r•fl•¢l•d In th• flnanclal stsl•Thni8, tho I•B# IlkBlywe arg to thome aw8r9 01 IL Pap11 THE IPOSTOLIC Fimi MISSION UK LTD (Acornpany Ilmltsd by guaranto01 INDEPENDENT AUDtroRS' REPORT TO THE MEMBERS OF THE APOSTOLIC FAITh MISSION UK (Col￿1NUEDJ Afvtherdeecrfpdon Olour￿pO￿￿bII￿es fDrlhe audit ofth¢ finanryol st9ter￿￿1￿ on the Flnandpl Reporung Coundfa aL' W￿.￿¢￿0.UkjaUdllvI3reBpans1bll1￿8B. Thts ¢Jo8crfptlon fomm pArt ofourAudKoTs' r•porL Ule olour r•port Th16 réwt IÈ rnade 801ely to th8 charttth ￿MpIn*l m•mb•rs. M 8 W, In a¢ec*dir*awllh Chipt•r 3 01 Part 16 ofth Compwnl88Nd 20Cfj. Ojr oudtt hs• w)d¢rt•k•n ￿ th•t%* mlghi$t810 loth• rthdl•t4• wmpwY8 mam￿r9 tb maN8rs requlrad to &ttt8 to thern In an Audil(y¢ report and fry nDoth•r Pu￿¢60 To the fu11•8t 8xieni p8rmthed by law. wy do*Dt av2pt or 35$um• rnswn5ibility lo qnyon8dherthan th8 d*rttabJ8 ujmpany and ils m•mbArs. a$ a b¢dyi forourwdll *)rk, forlhls report, orfortho cplnKnB ￿ have forned MT 8¢•ph•n Ol•d•pr+ O4•1￿ lil•nlgr¥t•iulwywdl¢Dr) lor•nd on behDlf of St•ph•n Ml¢h••l AJiotl•t Chirtered cellfl￿ Airwn*nts SIDtutoryAurfilc 181 Floor 3 More Lcnjcn Rfv8r6id8 London SE1 2RE Dale". 2>- octob￿ 20*3 Paoe 12 THE APOSTOLIC FAITH MISSION UK LTD IA ¢omp•ny Ilmil¢d by guarateel THE APOSTOLIC FAiTH MISSION UK LTD STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 Unrestrleted fund• 2022 Restrlctsd Fund$ 2022 Toi•l fund• 2022 PrfOr￿ar fund• 2021 INCOMING RESOURCES Donations and L8gaci88 762,840 5.763 768.603 731,181 IrJve8tmonts 117,834 117.834 86.012 Charitable activitigs 1.482 47,044 48,526 2,702 TOTAL INCOMING RESOURCES 882,156 52,807 934.903 819,095 RESOURCES EXPENOED Exp•ndltur• on; Chantable Adiwlles 467,963 63,714 531,677 282,792 N•t mov•m•nt In fvnd8 b•for• olhv rncognlsed galns 414,193 110,9071 403,288 637,103 Other r•cognls•d g•lnsAossM." RIV￿￿•11?￿ glln on FlxedA¥•e¢• 14 4.365 4,365 262,172 Ilet movom•nt In lund* 418,S58 {10,9071 407,651 799 275 Roconcllladon of funds." Totol funds brought ronva 6,440,982 136,749 6,577,731 5.778,458 Not mwm•nt in fvnds 418,558 (10.907} 407,661 789.275 Total funds canl•d fonvard 6.859.540 125,842 6,985,382 6.577.731 Th• 8tsiem•ntr Of Iln•nel•l •ctlvltl•* Includ•• all •nd lo%a•s r•eo9niMd In ihe ye*r. TIL• nots•, 1 to 19 fomi port of th•8•flnoncl•l stal•m•nts. Pag¢ 13 THE APOSTOLIC FAtTH MISSION UK LTD (A wmpany Ilmlted by guarnnteel THE APOSTOLIC FAITH MISSION UK LTD STATEMENT FOR FINANCIAL POSITION FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 2022 2021 Notes Flxed Assets Tangible Assets Investrnent Property 13 14 1.613,629 2.725.872 1,646,834 2,721,507 4,339.501 4.368,341 Current assots Debtors Cash at bank and in hand 15 94.089 2,586,243 100,051 2,139,420 2,880,332 2.239.471 Credltors: amounts falllng due wlthin ono yoar 16 134.4501 (30.0811 Algt Gurrent assets 2,645.882 2.209,390 Totsl auot8 le$$ ¢urr•nt liabilit10$ 8.985,382 6,577,731 Net assets 6,985,382 6.577,731 Total net assets 6,985,382 6,577,731 Charlty funds Rastrlcted fund8 Unreslricted fund8 18 125,842 6,859,540 136,749 6,440.982 18 Total funds 6.985,382 6.577.731 Tho Trusteos a(￿n￿edg& th•lr responsibilbties for compl￿n9 wlth th¥ wuirom¢nts of the Act v r88pect to aceouniing records and preparatson of financial statem8nts. The flnancial siatements have been prepared in accordance wilh th• provlslons appllcablg to enUU88 3ubiecl lo the small companles wime. Thg finanGlal stal8menls w8r8 approved and authorfsed byt oard of Trustees and sioned on Its ￿half Reveter￿ Pran£i$ OLantEwalu Odudu Corporth TTea>urEr R•vor nd 110￿Mrand1rnh￿• Page 14 THE APOSTOLIC FArrH MISSION UK LTD (A company Ilmltsd by guarant••l STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2012 2021 Cash flows from openttnz acttvltles Nel cash used in operating activilios 22 368.255 466.697 Cash llows from Investment actlvlttaJ Diwdends, Interests. and rènts from invesiments Proceed from th• sAle of tsngible fbxed asséts Purcha8e of tanglble ftx•d as8et3 Purchase ol Inveslmants 22 117.834 456 139,7211 86.552 612 180.3321 826.288 13 Net cash used In Inve5tlng artlvltles 78,569 (819,456) Cash flows from financing artlvltle5 N•t C•5h provlded by fin•nclry •cUvltl•s Change In cash and cash equlvalents In the year 446￿23 1352,7591 Cash and cash 8qufvalenl al tha baglnnlng of the yoar 2.139,420 2,492,179 Cash and cash equfvalent at the end of the year 2 586 243 2 139 420 Page 15 THE APOSTOLIC FAITH MISSION UK LTD {A company Ilmlted by guarantee) THE APOSTOLIC FAITH MISSION UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 General Infornatlon Apostolic Faith Mlssion UK LTD is a private company limited by guarantee in￿r￿rated in England and Wgtes. The reglstered office 18 13 Penhill Road. Bexloy, Kènt DA5 3EP. ACCOUNTING POLICIE8 2.7 ¥4si8 rf prgparallon ot finoncwi 8tht•mont8 The financlal st8toment8 hove b¢en prepared In aceordonc• vAih th¢ Ch•rftl¢8 SORP (FRS 1021- AC￿￿ntIng and Reporting by Gharttles.. Statement of Recomménded PraGtlce appllc8ble to ch8ri1188 prepadng Ihglr accounts in accordance wlih thè Finan¢io1 Reporbng Sl8nd8rd 8pplScable In the UK and RBpubllc of Ireland IFRS 1021 {aff¢¢t￿¢ 1 Janu8ry 2015). the Flnandal Réporting Standard appllcable In the UK and Republlc of Irel8nd {FRS 102) and Ihe Companies Act 2006. The Apo81ollo Falth M1881on UK Ltd meets th8 defflnltlon of g puNlo benefit entity under FRS 102. knets and liabilities are in111811y recognlsed at historicgl cost or transaction value unless othwwsa 8tated in tha rèlèvant accounting policy. 2.2 Ineome All income18 recognlsed onco the charity h85 enlluemènt to th• inc¢Jme. it is probabla that tha incomo will b8 r•calv•d and thè Amount of incom• rneolv8bla can be rne¥sured r•liably. Incom8 tsx récoversble In r•latton to Inv•8tmènt In¢ome t4 rocognl8•d St th• Ilm• the In￿StMant InMm• 18 recelvablo. 2.3 Exp•ndltur• Expendlture Is raoognlsod once ther818 a legal or ¢0n$tyV¢t￿e obllgabon lo transfor e¢onomlc benefit 10 8 third parly, il Is probable that a transler of gconomic benellts will be required in setuement and th8 amount of tho obligation can be measurnd raliabty. Expenditur6 ts cla5srfied by adivity. The costs of each advity made up of Ihe total of dlrect costs and 6hgrgd costs, Includlng support wsts Involved In undertaking each actlvlty. Direrl L¥)5ts attribuiable to a slngle acliwty are allocated dlrectiy to that actiwty. Shared costs vthich contrlbute to more than one acti￿ and supwjrt costs whith are not altribulabl8 to a single adv are 8PPOrtion8d befv￿en those Èctiwti88 on a basis con¥isl¢nl with the use of rewurGes. Contral staff sts are allocated on th8 basi8 of time spent, and depreciation charges allocat8d on thg portion of the 8$s•Ys use. Expendlture on charllabl8 aCtI￿￿•S Is InCur￿d on dlrectty undertaklng th• a¢tlvilie5 thlch furthor th• horlV8 oblecilv08. 88 wo1188 ony 868oclated support C08t8. All expenditure Is Inclusiv8 of irrgcoverabl• VAT 2A Int•rè¥t recelvab Interest on funds held on deposit is induded when Teceivable and the amount can be measured reliabty by the charity., Ihis is nomially upon nolfficalion of thè Interest paid or payable bythe institution with whom the funds are depckAited. Page 16 THE APOSTOUC FArrH MISSION UK IA company Ilmlt8d by gu#r•nteel THE APOSTOLIC FAITH MISSION UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 2.5 Tangiblo flxed ass•ts and depre¢lation Tanglble fixgd assets cosung £500 or more are LXPrtalk8ed and recognlsed when future eGonomtG benefits are probable and the cosl or value of the asset can be measured r8llabty. Tangible fixed assets are initially recoJnlseO at eosl. After recLyJnition, under the cost model. tanglblg xèd 3SB81s are measuréd al cosl le89 accumulated d8wociation and any accumulated impoimenl toss•s. All ¢oBts incurred to bring a tangible fixed &$s*t into its intended wothing Condition Should bts Enciudod In the measurément of eosl. Depreclollon 1$ provlded on th• foilovAn9 baseB.' Freehold properties Motor vèhldes Fixturès 8nd frttlng8 Office èquipment Computer equipment 2% straighl line 25% reducing balance 20% straight line straight lin8 33.33% 8tr•ight line 2.6 D•btor• Trade and othèr debtors are recognlsed at the sewemgnl amount after any trade dlscounl offered. Pr8paym¢nt8 9re ￿l￿ed •1 4mount pr•p•ld n•1 of any trad8 dlseounts due 2.7 C••h at bank and In h•nd Cash al bank and In hand Indudes cash and short-lerm hlghly liquld Investments with 8 Short malurfty of three months or le8& from tho date of acquisition or opening ol the deposll or 8imil$r 8CCOUlIt. 2.8 LlabllFtleJ #nd provlslons Liabililies are recognised when there Is an oblSgadon al tho B81ance 8heel dale as 3 result ot a past gvenl. it is probable th* a transfer of 8conomic benefit wlll be requlred in setuemenl. and the emount of the $8ttlem8nt can b8 •stimalgJ rgllably. Liabiliues aro reco9ni8ed at the amwnt that th• anticipalats It ￿11 pay to sewe tho debt or the amount It has recebved a8 ao*an¢8d pa￿nents for the g¢Jcd$ or servicos It musl provld6. Provision$ 8ro m•a$ured al the b•sl esllmala of the ornounts r•qulred to settle the obllgatlon. Where the affect of Ihe time valu8 of money Is materfal. the provision is based on the present value of those amounls. discountetj al the pre-tax discount ralo that roflocts the rlsks gpecffic to the liability. The unwinding of th8 di8counl Is recognised in Statement of flnanclal advltles as a finance cost. P8ge 17 THE APOSTOUC FAITH MISSION UK (A company Ilrnited by guarantee) THE APOSTOLIC FAITH MISSION UK LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 2,9 Flnanclal InstNments The th8rfty anly has Ilnandal 8ssÉts and financlal Ilabilities of a kind that qualfy as baslc flnandal instruments. B8SIG financial instwmenls are initially recognlsed al transacuon value and subsequenlly mèasured #t thalr g8tU8mant valuè thè excepuon of bank loans which are 8ub8&quondy moa8ured at amorb'sed cost using the effeclive interest method. 2.10 P•nslon• Th8 chBdty opèrotos a d￿nffi1 contrlbutlon ￿nsIOn schem• ond tha ￿nSIOn charya rapr•s8nts th• 8mounts P8yBble by the diar(ty to the fund In respect ol the year. 2.11 Fund accountlng General funds are unre8trScted funds whlch are avallable for u88 at the d5soreUon ol the Tru8lees In fiJrthgranc8 of thè g8n8ral obl8Ctiv8s of the charity and which hav8 not b8an d8sign8t8d for olher purposès. D95ignat•d funds r¥Jmprfso unrostdct8d funds that h8ve bgen sel 88ldg by the Tru8tg08 for p8rtlculAr purposos, The oim and use of eath d88igllated fund 18 8et out in the nolea to the finenciel ¥18temen R•8ffict•d lund8 fund$ whlch to ba usad In oe¢ordon¢• Bp•¢M¢ rn¥trlcll¢)no Impo￿1 by donors or whlch have b8•n ral$￿ by thè charfly for p8rticul¥r purpo598. Tho CQ515 of T8l$lng and admlnlslerlng such fund8 aro ch8rged 8galng1 the speclllc fund. Tha alm and u88 of each r88trlct￿ fund s•1 out In tha not•$ lo the finano818ialements. Investment InGomei galn8 and h)68e8 are alloGated to the approprfate fund. Page 18 THEAPOSTQUC FATH MISSION UK LTD (A Company Ilmil•d by guaraIrt￿1 NOTES TO THE FINANCIALSTATEMENYS FOR THE FINANCIALYEAR ENDED 31 DECeM8ER 2022 ANALYSIS OF INCOMING RESOURCES 3 Inc(mln8 Resouree5: Unrestykted Funds Rertrlrted Funds Tot•1 Funds 2022 Donatlons and ￿lac￿e> Glft Aid Clalm Recelvabla 5,763 674.466 88,374 762.840 680,229 88,3?4 768.60J 5.763 Rtstrlcted Funds 2021 Unre5trlcted 1021 rotsl Fund5 2021 Donarions and Legocle5 Gfft ASd Clalm Recelvable 640,CX)i 89.279 719.280 641,902 89,279 731.181 4 Inwmlry r•wur¢tt: In￿lIm•nt Incom• UnY•llrfrt•d Pundi 2022 R••trlrt•d Fund5 2022 Tot•1 Fundi 2012 InvEstment Ints)m•- local Investvn•nt propwU8s Investmer¢t Income- Interest Recefved 113,B43 3,991 117 113,843 3.991 117,834 Unrestrfcted Fund* 2021 Restrf¢ied Funds 1021 Total Funds 2021 Inv•stment Income.1o¢al Investment propertles Investment Incorne. Interest Recelved 85,476 536 86.012 85,476 536 86.012 Unrertrkled Fund£ 2022 5 Incomlnl rewurces: Charltable artlvltl•s R•strICt￿ F￿ndS 2021 Total Funds zozz Income from churiLab19 ac1￿188- lutheran￿ of the 0)8￿1 47.044 47 1.482 IA81 48.S26 48.526 Unrestrl¢ted Totjl Fu*d# 2021 2.702 1021 1462 2011 240 IneAvno from chorltable #Cli￿1•￿- lurtherance of Ihe gospel Iiestricted Funds 2022 Fund5 Total Fuftds 2022 2022 Total Incomini Resources 52,807 882,157 934,963 Page19 ThE APOSTOUC FArrH MISSION UK LTD IA company Slmlt•d by guar8ntso1 NOTES TO THE FINANCIALSTATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 AIIALYSIS OF RESOURCES ÉXPEI4OED S AMly$ls of tharitsble gtvlng Chariiablpomni to Instftudo 2021 Yotal Funds iozi Charltsble Blvln& furtheranc• of th• 8osp•I 29.070 29,070 Chorltsble IM to INtttutlon* 2021 Totil Fuhds 2021 Chari&bl* li￿n& fvrth•ranc* ofth* gosp IL052 11052 7 Ahilysb ol ExptndlturÈ un thariiable actlvhles. R•strkl•d Funds Unr•strkt•d Funds 2022 Tot•1 Funds 2021 2011 Furthernnce ol th• GoJp•l 63,714 467.963 531,67? Restrlcted Funds Vnrestrlrted Funds Total Funds 2021 Furthernn£e of the Gospel 275,704 281792 Pags 20 THE ￿0sTOLIc FArtH MISSJON UK LTD IA company Ilmltvd by guaratrtq•l NOTES TOThE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 Analysls of ewnditure by attSville5 Charttable EivEngfvndinK of adiyilies undertaken dlr•dty 2022 suppl￿ Costs 2022 Total Funds 20ZI Furthernnc• of the Gtsspel 221,041 29,070 281.566 531.677 A¢llvlti und•rtaken 8fvlns fundlni dlre¢Uy ot artlvltles 1021 Support Casts 2021 Totsl Funds 2021 Furtherance of the Gospel 56,769 11,052 214,971 282.792 Furtherance of the gospel 8 Analys15 of dlrqcl costs 2022 Staff ¢￿ts- W•6ts & Sttlarlos staff Costs. Contnbutlon to deffned contrlbutlon ptnslon srh•mes Camp fees and expen5e5 Par8on8ge malni•nanca EvèngelL8m, 6pxi81 events. ¢xpenses Z6.852 1,920 158.571 19.568 34.130 221.041 2,954 6,SS7 21.671 24.S87 56.769 9 Analys15 DISt￿c0S￿ 21 Staff ec411. Ww a S•lwi•• Stafl CoBl8- Conlrlbtsticn io defir￿d corrtrtbudon p•n•kn Bth8m88 1.520 6.557 28.772 9.511 Tho everag1 number ol p•rnc4M thnplwd by th• ch¥lty durfw tho y•r. 2012 2021 PAstor 0 omFloy88 Ta•￿d rOrty￿rkn amounong to than £60.￿) In 06theryew. 10 Anatysll of wpport custs 2022 2021 D•prKiptron church bUIl￿Tr9 rep•Tr6 and MaIn￿ance. sMrlty T2,Wkl ,081 16,227 TO,011 89.802 11,859 13.L travel and mott¥ 8w6es Prfnung. 5tallon8ry and other exp￿ Hall hire d8aNNJ, d8C(rtion Insurance Sundry church office eynse5 ProfiV105s ￿ disposalr¥)f fixed assels legyl and rKofes8ional fees 22.704 4.118 6.813 18.7(K) 14501 6.771 1.979 6.093 3.469 11391 S.518 5,270 214,971 281.566 Pa￿21 THEAPOSTOLIC FAITH MISSION UK LTO {A company Ilmlt•d by guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 310E¢EMBER 2022 11 Audltors, •nd knuntlng R•mur*Tatlon 20ZI Fees payablè to Ihè charws atsdittirftythè audit ofthè tharivs annual accounts Fees p￿tye to the ¢hartVs audttorln respeGt of all taX￿￿1)n £d￿￿ory ser￿CeS tK)L In[aud￿ ab(we &970 520 12 Trurteei. remuner•tlon •nd exp¢nseJ Ouring the year. cffle TNstee was paid aa the Mlnlster In Charye ol the thurGh and CNel Exe¢Lrtlv¢ Offl¢w of th• th8fit8bl• ¢tynp8ny. Tha Paym￿18 wllhln tha go¥￿nIng d0rJJm￿ts. Tho va￿• ofthe TNs18è'8 T￿neratiOn and olher btr*fit8 fdlows.. 2022 2021 R8v. M8th Sin8onoda MfBnd8r8hwa Remunerall 24.OtKJ 1A21 Durfng year ended 31 Docenthr2022, no Truste•s ewse5 hav• be•n In(yJrred. {20214Nill. IS Thnilbh FIK•d Ay•ts FY••hold Prop• oih•r Ass•tsJ T•tal Cart OrTAl￿15 Al 1 January 2022 Add￿On8 1,977,061 37,03g 352,473 2,330,134 39,721 At 31 DeCem￿rI022 1.014,7fA) 355.IS5 2.169.855 DW•d•ll¢)n Al 1 January 202Z Chtrge I￿the yeqr At ai D•c•mb•r IOZI 423.959 40,294 259.346 32.627 883.305 72.921 464,25J 291,973 756,126 Bookvalue At 31 D?￿ber 2022 1,550.447 63,182 1,013,629 Al 31 Do￿ber 2021 1,553.706 g3.129 1.846.834 14 In¥e•trnwrt Propertles Freehold Propertiej 2.721.507 Valuatlon At 1 JanlwY2￿22 AddI￿an& SurpluB on rev8luBbon At 31 Oecember 2022 2.725.872 The 2022 TrAuaIK￿8 Were tythe InJstee& on Sn o￿n marketvaljef0re￿sIfjng use basls. P•3e 22 THE APOSTOLIC FAITH MISSION UK LYD IA wmpany limlt¢d by ouarant••l NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 IS Debtors 2022 2021 Du& within on6 year R￿t Recdwdble PrepoyThen& and 8cwed In(>Jmè Gfft c1￿M TrrAl¥8rablg 4,691 89.198 94.089 7.203 IDD.051 16 Credltors: AmourtsfalHnBdu• wllhln on•￿•1 2022 2021 Trade Cr&Jllors Olh8r Crediic Accruds and defe￿1 Iw4n• 21.531 16,041 7,320 Y4A50 10,&83 30MI 17 Nna#d•l Ifoinimenis 2021 FInI￿￿ 48aelu mu•ur•d •tl•lrv¥lu• tkyough In¢tyn• •nd •xpefidiluM 2 139,420 FIn8n¢1￿ ua•ls measur•d 41 lalrvaiu•ttr*ough and oywndknje comprfse cash ai bank In hand. 18 smementoffvnds B•lon¢é Dt 31 December 0114n¢e at i January 2022 Income Exp•ndtiur• GalnslLosses 2022 StAt•rn•nt olfvnd8- current year Unr•strlrt•d Fund• Do￿9n•t•d lund• Carnp Slt• Fund 7 500 00) G•neral Fund5 Gen&r81 FUM5 487.983 4.365 6.369.610 Tot•1 UnrMtrl¢t•d Funth 440,981 882,156 I467,￿? 4A6S 6.859¥0 Pag¢ 23 ThE APOSTOLIC FAfFH MISSION UK LTD IA company Ilmlt•d by guarant4•1 NOTES TOTHE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 Restricled Funth Btrrningh4m Chu¥th Building FurKI Camp Slte Men Women Neeoy Couple conl¢rerK• Church bjlldlng malni8n8nc• YDulh Camp ¢￿p F¢e$ Evong•llsm NlgÈda FiMd Churth bulkllng yo￿th Fund B6xby Cloonlr Hackney Sunday Schoc4 Ta2£￿ Youth WorkwB 116.576 7.255 2.615 P.2941 115.282 7.255 2,4S5 1,138 11.298) 1351 135 15 20 250 7.087 12501 154,1311 11001 11.4411 11151 12.1591 15401 47,044 1.441 115 2,409 141 175 11411 175 Tol•l Rertrfrt•d Funds 136,749 52 163.7141 125,84Z Tot•1 Funds 6,$77.731 954.963 1531.6771 4.365 6.985.582 19 St•t•m•nt of lunds- prSDry••r e•lance at 31 December 2021 Bolance at i January 2021 Incorn• Exp•ndltur• Galnsnojms ststsmentolfvndi- prlorye•r Unrrstrl¢i￿ Funds De8lGnaled lund8 Camp Slto Fund 1.s00.0￿* 1,50o.or GeneMI Fund# G¥nor¢l Fund$ 4.138,982 815,532 275.704 202.172 4.940.982 Totsl UThrestrlctqd Funds 5,638382 815532 1275,7041 261in 6,440.981 Pag8 24 THE APOSTOLIC F￿TH MISSION UK LTD IA company 11m1t￿ by guarantao) NOTES TO THE FINANCIAL STATEMENTS FOR THÈ WNMCIAL YEAR ENDED 31 DECEMBER 2021 RestrTded Fun Blmilntham Church BulldSn9 F Camp Sile Men Wcffi8n N￿dY Cuuple confwence Churoh ￿adIng m8lnt•ngnEe Ywth ¢¥rnp Camp Féè8 Bgxley Cleanl H&¢kney Sunday SdKdd Teath8fS Ytyjih Wcrtor8 121,870 7,255 2,4S5 13.2941 118,S76 7.255 2.616 35 15 15 2,244 910 12.244) {910) 250 7.087 43 {6401 141 175 141 175 Total Restrf¢ie41 Funds 139A74 4.363 136.749 Totsl of Funds 5,778.456 819,895 1282.7921 262.172 6,577,731 IQ St•t•m•ntof hmdi Icontlnu•d) Ths Cvrnp Site d88lgnated thjnd i¥ designbted for th¢ purth•$• of 8 ¥tte for our Carn￿n9 ¢wnt. Th• thurch 58 In th¢ pre¢e8$ of 89grthlng for an •ppropri8t• ￿t* on wNch to bulld Ihe Camp. The Blrnanghom chU￿h buildlnu fund WAS used ￿ part.paymenl for lh• 8lrmlngh#m thurch bulldlw and rnpMs•ntB fulur8 d8wed811on {£3,294 w w. 2% ofth• rAiglnal COBtcovwed tylh• fvndl. The Comp slle fund Is for Ih• purth•se of a s11• fc¢ our CBmplng ¢vwl. Tho Men fund l& church colle¢tionB r8c•lv•d fcf mgn acu￿1[06. Tho Womon lund 14 church cc41Kdeo8 r•Eeived lor ￿rnaTh aclth•. Th• Ntsdy fvnd IJ church cdl•cil¢)n$ rttelv•d io h?Ip tho80 In n¢00, The Youth Camp luTrJ18 trtha runnirva of Ihe annual yQUih event. Th• Cornp leo fvnd Is forour camping evant Thè HBd(neyfund Is lor H8ckn8y group $lLth e•ntr•. The Sunday SchrA Toath•o fvnd IÉ churth Ne•iv8d IOT sunday athod A¢6Mti•s. Tho Yoth Worker8 fLwd la thurch cdl•Glon8 re￿1¥ad f+ywork¢rn' ?¢￿￿￿¢¥. Tho charitatyfj Gompany ha8 enc*Jgh fund to payfty the non ffxed &ryset funds. PaJ8 25 THEAPOSTOLIC FArrH MISSION UKLTD IA Gompny Ilmlted by guaran18•1 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCiAL Y&4R ENDED 31 DE¢EM8ER 2022 Summary offvnds Summaryoffvnds- ¢urr•nty•ar gwlan¢• at 31 Oeeember Balartc• at I J*nu•ry 2021 Ihwme expendltur• 8aln5lLo￿•S DÈAlgnaled Funds Generd FuTrJ8 Rgsirl¢tod Fwds 1,￿0.0 4,940.982 138,749 6.577.731 1.5C(I.O S,359.540 125,842 882,158 52.807 1467,9631 63.714 1531.6771 4,365 gY4S63 6.985,382 Surnrnbry otfunds- prloryar B•l•n¢# At31 Dècemb•r 2011 Balince•t I january IOZI Incorne Ejyendlture fj•inslLg$6es D581gn8t8d Fundk Genoral Fund8 Re¥lrictad FtsrAs 1,500.000 4,13B.982 139.474 5,778A56 1,S(N),coJ 4.940.982 136.749 6,577,731 815 1275.7041 7,088 (2817921 262.172 819,895 262.172 21 An•lyslioln•t •M•ts b•twwn fvndi An•lyslsoth•t •M•ts b•tw••n lundi * curr•nt y•ar Unrestrlcled Fund• 2022 A•¥trlcted Fund¥ 2022 Tot•1 Funds 2022 Tontyt4¢ffix¢d oss¢t8 Inveslmont pr4*rt10• CurTant 888el8 Cr•dltor8 du• wlU)In on8 11&282 1.498.347 2,725,872 2,669.n2 1.613.82P 2,725,872 2,680.332 10,580 Totsl 125.842 6.859.540 6.985.382 Analysts of net assets bétweenfunds- prIor￿*r Unr•Btrtrtqd Funds 2021 R•strf(t￿ Funds 2021 Totsl Fun& 2021 T￿gIbl0 flxed InYoslm8nt wopwties Currenl a558ts c￿(￿.1018 due wlthth ong oyar 118 1,528.258 2.721.507 2,221,298 30,081 1,e46,834 2.721,$07 2,239,471 30,081 18,173 Tot*1 13&749 6.440.982 6,577.731 Page 26 THE APOSTOLIC FAtTH MISSION UK LTD {A compny Ilmlted by guaratrt801 NOTES TOTHE FINANCIAL ￿ATEmENTs FOR THE FINANCIAL YEAR ENDED J1 DECEMBER 2Q22 22 Re£on¢llTatitsh of net movAmoht in fundsto netC•5h fiowfrom oper@tlni athvrknes 201Z 20Zi Net Income forihe year las per51atement of Hnanclal Actlvltlesl 537,103 Adjustmtnts for: D&proelaiiors tharg•8 Dfvid•nd8, Inl8to51s and r•nts frtyn Inve8trnents Profil on the $8le olflx•d a55815 D￿reasellIn¢ye888j In debtor5 Incraaselld•¢r•as•l In cr8dUlor8 72,921 1117,8341 14501 75,611 186,5521 11311 131.4571 27.869 N•t C16h wowld•d by operatlnl artl¥lt•S 368,255 466,697 23 An•tysls tsf ush Ind ¢•th equfv•lents 2022 2021 C88h In h 2,6Be.243 2,139.420 Total ¢aJh and cash •gylval•nt ,243 2,139h20 24 An4W¥afdwnys In nrtl¢bt AtJi Dqc•mb•r At l January 2022 Cash Ilo 2022 Cjah In bwk and in hartd 2,139.420 446,823 1586,243 1139,420 446.823 2,586.243 25 Penslon rommttmenti I n• cnur¢n opernws a aomn80 QmDuiJon5 scn8me. I ne a¥seN OT MO irn n9￿ sopara*ryrrom InoBe c4 Th ethurcn In a IndgF4n¢Jgnty odmlnl8t•r&J fvnd. The penslon fmt tharg• r•pwents conlrtbutkns by thurc* to the luThJ and arThwnl•J to £1,92012021 £6,557). 26 Rehted p•rtytr•nsartl¢ns Th• charlty has not enlerqd Into any rdai•d party ￿n6￿ctIOn durfn9 Iho ￿ar, Iw *é there •ny out818ndlry balan¢u 0%4lng beknw•n r￿at¢d partl88 4nd th• th￿ty Bt 31 December 2Q22. Pag627