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2023-12-31-accounts

ICC Missions

(A company limited by guarantee)

Registered Company Number: 04272228 Registered Charity Number: 1092123

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

CONTENTS

Page Legal and Administrative Details Trustees' Report 2-6 Independent Auditor’s Report 7-9 Statement of Financial Activities 10 Balance Sheet 11 Statement of Cash Flows 12 Notes to the Financial Statements 13-23

ICC MISSIONS

LEGAL AND ADMINISTRATIVE DETAILS

TRUSTEES

Jane Addo [Appointed 26-Jun-2023] Remi Alaka [Appointed 26-Jun-2023] Andrew Agerbak (Chair) [Resigned 17-Dec-2023] Chris Cagienard [Appointed 26-Jun-2023] Leslie Chinweze [Appointed 26-Jun-2023] Michael Farrell [Resigned 27-Jan-2024] Andy Fleming [Appointed 26-Jun-2023] Peter Frost Bode Ilesanmi [Appointed 26-Jun-2023] [Chair 17-Dec-2023] Ian Tootill [Resigned 19-Apr-2024]

SENIOR MINISTERS

London Church

Evangelists and Womens’ Ministry Leaders:

Charles & Pat Elikwu, Richard & Tessa Lee, Mulligan & Joanne Price, Toks & Bola Sowoolu [Resigned Aug2023], Franklyn & Nadine Walters

Elders: Uwa Bazuaye, Rubik Ghalustians [Appointed Jan-2023], Mohan Nanjundan [Resigned Apr-2023], Toks Sowoolu

Birmingham Church

Evangelist and Womens’ Ministry Leader: Roger & Jacqui Frimpong

Manchester Church

Evangelist and Womens’ Ministry Leader: Chris & Theresa Broom

COMPANY SECRETARY & ADMINISTRATOR

Paul Rowden

REGISTERED OFFICE

30 Old Bailey London EC4M 7AU

Email address info@icoc.org.uk

LEGAL STATUS

ICC Missions is a company limited by guarantee incorporated on 17th August 2001, Registration No. 04272228 Registered with the Charity Commission - Registration No. 1092123

AUDITOR

BANKER

SOLICITOR

Haslers Lloyds Bank Plc Bates Wells Chartered Accountants Strand Branch 10 Queen Street Place Old Station Road Villiers House London Loughton 48-49 Strand EC4R 1BE Essex London IG10 4PL WC2N 5LL

ICC MISSIONS

Trustees' report for the year ended 31 December 2023

The Trustees of ICC Missions present their annual report and the audited financial statements for the year ended 31 December 2023.

STRUCTURE, GOVERNANCE AND MANAGEMENT

ICC Missions is a company limited by guarantee, and not having share capital (Company Number 04272228). It is also a registered charity (Charity Number 1092123). Both registrations are in England and Wales. Its registered address is 30 Old Bailey, London EC4M 7AU.

ICC Missions’ dual status as a company and a charity means that the same people serve as its company Directors and charity Trustees, though in this document only the term “Trustee” is used. The Trustees are also the only legal members of the charity, as specified by Article 3 of the ICC Missions Articles of Association.

The charity has a unitary structure, with the member congregations functioning in a similar manner to “branches”, though much decision-making is devolved to local level. The existing board, led by the Chair, oversees a process to review nominations and select a Board based on criteria including character, skills and experience. Each member congregation may nominate Trustees, either from within their own congregation or any other within ICC Missions. During 2023, and as planned, an additional six Trustees were added to strengthen and deepen the Board’s capacity and capability. At the end of the year Andrew Agerbak retired from the Board after 12 years of service. The Board would like to extend their thanks to Andrew for his stewardship of the charity over this period.

In accordance with our induction process, the new Trustees were briefed on their obligations under charity and company law, the contents of ICC Missions governing documents and the manner in which the charity is run. The Trustees were encouraged to familiarise themselves with the guidance contained within Charity Commission publications and briefings. Trustees are not remunerated for their duties (other than necessary expenses) and hold no beneficial interest or shares in the company. The charity has a Trustee Indemnity Insurance policy.

The Board of Trustees meets face-to-face at least three times a year and also may hold meetings by virtual conference. ICC Missions employs ministry staff to serve the needs of member congregations, some of whom may have specialist roles serving the needs of groups such as teens or students. ICC Missions also employs administrative staff to support the day-to-day running of the charity and the Trustees have appointed the Chair of Trustees to supervise these staff.

The Trustees have delegated the responsibility and authority for the day-to-day governance of local churches to their congregational leadership teams, who are responsible for the local implementation of the Trustees’ policies. This includes the implementation of local financial administration.

The operation of member churches is formalised in individual local constitutions. Each constitution specifies requirements for the appointment and operation of leadership teams, and prescribes ways for local church members to hear and ask questions about the administration and governance of the charity, such as through an Annual Church Meeting. Trustees normally try to make themselves available to speak at these meetings, thus providing some accountability to congregation members for their actions.

The Trustees have developed a Salary Model to set the remuneration of all ministry staff. The Trustees have found it helpful to compare the role in society of ministers of religion to that of teachers, and so the Salary Model is linked to the actual salary data for the ‘teachers and research professionals’ classification in the government’s Annual Survey of Hours and Earnings. From this a table of salaries is populated, from which a particular employee’s salary is determined based on their role and relevant experience. Administrative staff remuneration is set to match that of similar roles in the charity sector.

ICC Missions maintains strong connections with other churches in the International Churches of Christ family, both in the UK and overseas. ICC Missions also has connections with a benevolent charity called HOPE worldwide whose UK projects include work with the homeless and recovering addicts, and has links to international programmes through similarly named entities around the world.

PUBLIC BENEFIT

The Trustees have complied with the duty set out in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission. All Trustees give their time voluntarily and receive no benefit from the charity. Any expenses reclaimed from the charity are set out in note 8 to the accounts.

ICC MISSIONS

Trustees' report for the year ended 31 December 2023

OBJECTIVES AND ACTIVITIES

The objectives of ICC Missions are defined in its Articles of Association as follows:

"the advancement of the Christian religion in the United Kingdom and elsewhere throughout the world; and the relief of poverty and sickness and the distress arising therefrom of any person who is suffering as a result of drought, earthquake, flood or other natural disaster or who by reason of his or her social and economic conditions is in need of such assistance".

ICC Missions accomplishes its objectives mainly through:

Prayer, teaching, preaching, counselling and evangelism

ICC Missions aims to facilitate the worship of God and to promote the everyday application of Christ’s teachings. All its congregations meet frequently to pray and worship together and to receive teaching based on the Bible. Our Sunday and midweek services are open to members of the wider community, and congregations are pleased to welcome visitors. Many teaching materials are placed on church websites, and are provided free to the general public. Activities aim to foster a strong community spirit within the member congregations and to develop a supportive and encouraging environment for all members of this community. One way that our member churches aim to support families and youth is by providing teaching and assistance with marriage and parenting issues. Our churches support overseas missions in similar work (See Note 5).

Youth and Children’s Ministry

Weekly classes and annual retreats create an encouraging environment in which the children can build an understanding of God, grow in confidence and self-esteem and develop an appreciation of the relevance and usefulness of Christ’s teaching in their everyday lives. All children and youth work within ICC Missions is organised with the safety and security of the children at its heart and the organisation has continued to subscribe to the services of 31:8, which is a child protection advisory service for churches, who provide an invaluable service in supporting this work.

Assistance to the needy and sick

The member congregations of ICC Missions aim to meet local needs among their members and in the local community. ICC Missions also strives to imitate Jesus Christ’s concern for the poor and needy by supporting the work of HOPE worldwide in the UK and overseas. This can be through providing volunteers when needed, or allowing collections to be taken in support of HOPE worldwide ’s work during church services. ICC Missions supports other churches overseas, as mentioned above, and this assistance can also be used by these churches to help relieve poverty and sickness, in accordance with ICC Missions’ objectives.

ACHIEVEMENTS AND PERFORMANCE

Of particular importance, and an identified risk factor, is the recruitment of next-generation ministry staff, to continue the charity’s work beyond the current generation of staff, many of whom are approaching retirement in the next 10 years. As at the end of 2023, the ministry staff of 27 now includes 11 under the age of 35, 10 of whom were employed in the last 5 years.

The charity itself has a membership of approximately 1500, with around 500 of these under 35.

The churches continued to meet weekly, and organise various local and national events to meet needs within the church and the communities in which they operate. These included residential church retreats, Women’s events around International Womens’ Day, Marrieds Retreats, Young Professional events, a Mature Singles Cruise, and the annual residential PreTeen and Teen Camps. All these events seek to reinforce the wisdom and life affirming nature of the teachings of Jesus, particularly emphasising their value in personal relationships, and in so doing achieving the charity’s aims.

ICC MISSIONS

Trustees' report for the year ended 31 December 2023

FINANCIAL REVIEW

In overseeing the finances and administration of the charity, the Trustees wish to ensure that it complies with all relevant legislation and regulations. However, they also seek to apply a high standard of self-regulation, as they seek to imitate the standard set in the Bible by the Apostle Paul:

"We want to avoid any criticism of the way we administer this liberal gift. For we are taking pains to do what is right, not only in the eyes of the Lord but also in the eyes of men." 2 Cor 8:20-21, NIV

To ensure high standards, the Trustees have:

The audited financial statements for the year ended 31 December 2023 incorporate the financial transactions of ICC Missions' member churches, its central administration, and the charity's Missions fund.

The organisation was in good financial health during the year ended 2023. The accumulated balance at the end of the year was £2,506,104 (2022: £2,410,390).

The charity's available cash resources continue to exceed the requirements of our reserves policy. The COVID-19 pandemic saw an exceptional increase in the charity’s cash, as though income remained relatively constant, expenses dramatically reduced due to the limitations on meeting. 2023 continued from 2022 with more typical meeting patterns, and a corresponding reduction in the annual surplus. This trend is expected to continue into an annual deficit for the next few years, bringing cash resources back towards the reserves policy.

During the twelve-month period ending 31 December 2023, total income amounted to £2,467,753 (2022: £2,514,060). This included donations of £2,062,421 (2022: £2,065,947) for unrestricted purposes. Restricted collections for Missions and Benevolence amounted to £244,482 (2022: £295,425). Expenditure totalled £2,372,039 (2022: £2,411,890), which represented the operating costs of running the organisation, further disclosed in Notes 1-17 to these accounts.

PRINCIPAL RISKS

The Trustees periodically review and update the organisation’s risk register. Three headline risks concern safeguarding, the development of future leaders, and maintaining the goodwill of church members. These risks and a summary of our mitigation plans are described as follows:

ICC MISSIONS

Trustees' report for the year ended 31 December 2023

and forums such as the Annual Church Meeting where questions about the church's finances and impact can be raised and addressed.

IMPACT OF THE CONFLICT IN UKRAINE

The economic impact of the conflict in the Ukraine is expected to affect the charity through rising inflation, specifically in facility hire costs from their increased energy and staff costs, and increases in our own staff costs.

PLANS FOR THE FUTURE

The Trustees and Leadership Groups of ICCM member congregations continue to focus on growing our churches with a particular emphasis on:

CONCLUSION

This report has demonstrated that ICC Missions is accomplishing its objectives to spread the message of Jesus Christ, and to help those affected by poverty and sickness. In so doing, it is bringing benefits to wider society through its activities. The organisation is in a sound financial position, and intends to build on its work in the coming years.

Approved by the Trustees, and signed on their behalf on 16[th] September 2024 by

Bode Ilesanmi Chair of the Board of Trustees

Chris Cagienard Vice Chair

ICC MISSIONS

Trustees' report for the year ended 31 December 2023

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

Company law requires the Trustees to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the Trustees are required to:

The Trustees are responsible for maintaining proper accounting records which disclose within reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Companies Act 2006. The Trustees 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.

In accordance with company law, as the company’s Directors, we certify that:

These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies’ regime.

Approved by the Trustees, and signed on their behalf on 16[th] September 2024 by

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Bode Ilesanmi Chair of the Board of Trustees

Chris Cagienard Vice Chair

ICC MISSIONS

Independent Auditor’s report to the members of ICC Missions

Opinion

We have audited the financial statements of ICC Missions (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

ICC MISSIONS

Independent Auditor’s report to the members of ICC Missions

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the legal and regulatory frameworks that are applicable to the entity we have considered those that have a direct and indirect material impact on the financial statements and operations of the company. These include but are not limited to the Charities Act 2011, GDPR, and Employment and Health & Safety legislation.

We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making inquiries to the management. We corroborated our inquiries through our review of documentation generated and assessing the extent of compliance with the relevant laws and regulations.

We discussed among the audit engagement team regarding the opportunities and incentives, including management override of controls, which may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

As a result of performing the above, we identified the greatest potential for material misstatements due to fraud are in the following areas, and our specific procedures performed to address these are described below:

ICC MISSIONS

Independent Auditor’s report to the members of ICC Missions

The risk of management override of controls is the area where the financial statements were most susceptible to material misstatement due to fraud.

Procedures performed to address these were as follows:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the charitable company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's Trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Haslers

Chartered Accountants Statutory Auditor Old Station Road Loughton Essex IG10 4PL

Date: 16 September 2024

Haslers are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

ICC MISSIONS

Statement of Financial Activities for the year ended 31 December 2023

2023 2023 2023 2023 2022
Unrestricted Restricted Restricted Total Total
funds Benevolence Missions funds funds
Notes funds funds
£ £ £ £ £
Income from:
Donations 2 2,062,421 21,898 222,584 2,306,903 2,361,372
Charitable activities 4
Kingdom Kids & Youth Ministry 65,532 - - 65,532 73,573
Preaching, Teaching, Evangelism
& Counselling		 75,968 - - 75,968 77,116
Investments 3 16,692 - 2,658 19,350 1,999
───── ───── ───── ───── ─────
Total income 2,220,613 21,898 225,242 2,467,753 2,514,060
───── ───── ───── ───── ─────
Expenditure on:
Charitable activities
Kingdom Kids & Youth Ministry 107,714 - - 107,714 109,862
Preaching, Teaching, Evangelism
& Counselling		 2,077,495 - 128,409 2,205,904 2,233,612
Benevolence & Missions 3,634 12,151 42,636 58,421 68,416
───── ───── ───── ───── ─────
Total expenditure 6 2,188,843 12,151 171,045 2,372,039 2,411,890
───── ───── ───── ───── ─────
Net income 31,770 9,747 54,197 95,714 102,170
Transfers between funds (172) 172 - - -
───── ───── ───── ───── ─────
Net movement in funds 31,598 9,919 54,197 95,714 102,170
Balances brought forward
1 January 2023		 1,893,049 41,835 475,506 2,410,390 2,308,220
───── ───── ───── ───── ─────
Balances carried forward
at 31 December 2023		 1,924,647 51,754 529,703 2,506,104 2,410,390
═════ ═════ ═════ ═════ ═════

There were no recognised gains and losses for the year other than those included in the Statement of Financial Activities above. All activities of the charity were derived from continuing activities.

ICC MISSIONS

Balance Sheet as at 31 December 2023

Note 2023 2022
£ £
FIXED ASSETS
Tangible assets for use by the charity 9 2,467 3,090
───── ─────
CURRENT ASSETS
Debtors 10 110,813 94,005
Cash at bank and in hand 2,505,862 2,373,799
───── ─────
2,616,675 2,467,804
CREDITORS: amounts falling due within one
year
Creditors 11 (68,800) (60,504)
Provision 15 (44,238) -
_____ _____
(113,038) (60,504)
NET CURRENT ASSETS 2,503,637 2,407,300
───── ─────
NET ASSETS 2,506,104 2,410,390
═════ ═════
FUNDS 12
Restricted funds 581,457 517,341
Unrestricted funds 1,924,647 1,893,049
───── ─────
2,506,104 2,410,390
═════ ═════

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Approved by the Trustees, and signed on their behalf on 16[th] September 2024 by

Bode Ilesanmi Chair of the Board of Trustees

Chris Cagienard Vice Chair

ICC MISSIONS

Statement of Cash Flows

for the year ended 31 December 2023

2023 2022
£ £
Cash flows from operating activities:
Net income 95,714 102,170
Adjustments for:
Depreciation 1,812 1,695
Interest and dividends receivable (19,350) (1,999)
Decrease/(increase) in debtors (16,808) 31,642
Increase/(decrease) in creditors 52,534 31,233
───── ─────
Net cash provided by operating activities 113,902 164,741
Cash flows from investing activities:
Purchase of tangible fixed assets (1,189) 0
Dividends and interest received 19,350 1,999
───── ─────
Net cash used in investing activities 18,161 1,999
───── ─────
Change in cash and cash equivalents in the reporting
period 132,063 166,740
Cash and cash equivalents at the beginning
of the reporting period 2,373,799 2,207,059
───── ─────
Cash and cash equivalents at the end of
the reporting period 2,505,862 2,373,799
═════ ═════

ICC MISSIONS

Notes to the Financial Statements for the year ended 31 December 2023

1. ACCOUNTING POLICIES

The principal accounting policies adopted by the Trustees in the preparation of the financial statements are set out below. The accounting policies have been applied consistently throughout the year and in the preceding year.

a) Basis of Accounting

The financial statements are prepared in accordance with 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. They are drawn up on the historical accounting basis. The charity meets the definition of a public benefit entity under FRS 102.

b) Going concern

The financial statements have been prepared on a going concern basis.

The Trustees consider the stability and growth trajectory of the membership of the charity, and how this is reflected in the projected income. Expenditure is reviewed against budget to form a financial projection, with a consideration of the status of the reserves in the light of potential risks.

c) Income

All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt and the amount can be quantified with reasonable accuracy. Where a claim for repayment of income tax has or will be made, such income is grossed up for the tax recoverable.

The following specific policies are applied to particular categories of income:

Donations

Voluntary income is received by way of donations and is included in full in the Statement of Financial Activities when receivable. Donations to which the charity is entitled but which have not been received by the year end are included in income in the Statement of Financial Activities and shown as debtors in the balance sheet.

Income from charitable activities

Income under this category is recognised in the financial statements when earned.

Tax reclaimed on monies donated under the Gift Aid scheme

Income under this category is recognised in the financial statements on the date that the underlying donation is received by the charity, where the tax reclaim is made within three months of the end of the financial year.

HOPE worldwide UK

Collections are often taken up at the Sunday services of the charity on behalf of HOPE worldwide UK to support the work of HOPE worldwide UK and other HOPE worldwide affiliates around the world. These amounts are not included in the accounts of this charity.

d) Expenditure

Expenditure is recognised on an accrual basis when a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Expenditure on charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

ICC MISSIONS

Notes to the Financial Statements for the year ended 31 December 2023 (continued)

Governance costs include those costs incurred in the governance of the charity and its assets, and are primarily costs associated with meeting the constitutional and statutory requirements of the charity including audit fees. All costs are allocated between expenditure categories of the Statement of Financial Activities on a basis consistent with the use of resources. Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis, e.g., staff costs by the time spent and other costs by their estimate usage, as set out in note 6.

e) Volunteers

The value of services provided by volunteers is not incorporated into these financial statements. Further details of the contribution made by volunteers can be found in the Trustees’ report.

f) Operating leases

Rental costs under operating leases are charged to the Statement of Financial Activities in equal amounts over the period of the leases.

g) Fund accounting

The charity maintains various types of funds as follows:

Unrestricted fund

This represents unrestricted income which is expendable at the discretion of the Trustees in furtherance of the objectives of the charity. Such funds may be held in order to finance both working capital and capital investment. The charity at present has no designated funds.

Restricted fund – Benevolence

This represents donations which are given by the donors for benevolent work within the UK and internationally and are restricted to this use.

Restricted fund – Missions

This represents donations which are given by the donors for missions work inside and outside the UK and are subject to restrictions on their expenditure by the donors.

h) Tangible fixed assets

Fixed assets that cost £1,000 or more are capitalised in the financial statements.

Tangible fixed assets are stated at cost less depreciation which is provided in equal annual instalments over the estimated useful lives of the assets.

The rates of depreciation applied to assets are:

IT equipment 25% Other equipment 10%

i) Pension costs

The charity operates a defined contribution scheme through a registered company of investment specialists. Contributions are made on behalf of all qualifying employees who have elected to join the scheme. All required contributions during the period were accrued in accordance with the scheme’s rules and charged to the Statement of Financial Activities for the year.

j) Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

ICC MISSIONS

Notes to the Financial Statements for the year ended 31 December 2023 (continued)

k) Liabilities

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 settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services 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 present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

l) Charitable commitments

Charitable commitments which are legally binding on the Trustees are accounted for as expenditure in the Statement of Financial Activities. Where the promise of financial support is not binding on the Trustees, such intentions are accounted for by a transfer to a designated reserve. Activities that are to be wholly financed from future income do not form part of such designation and are disclosed in a note to the accounts.

m) Branches

The charity carries out some activities through a national network of churches, which use the same name as the charity, raises funds for the charity and its own local activities and receives support from the charity through central administration. All local church transactions are accounted for gross in the accounts of the charity and all the assets and liabilities, including cash retained by the local churches are included in the charity’s balance sheet.

2. DONATIONS

Donations represent restricted and unrestricted income donated by members of the church and visitors at midweek and Sunday meetings of the charity in its various locations, by bank transfer, cash & cheques and via online giving.

3. INVESTMENTS

Donations Unrestricted Restricted Total
£ £ £
2023 2,062,421 244,482 2,306,903
2022 2,065,947 295,425 2,361,372
Investments Unrestricted Restricted Total
£ £ £
2023 16,692 2,658 19,350
2022 1,999 - 1,999

ICC MISSIONS

Notes to the Financial Statements for the year ended 31 December 2023 (continued)

4. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted Restricted 2023 2022
funds funds Total Total
£ £ £ £
Kingdom Kids & Youth Ministry 65,532 - 65,532 73,573
Preaching, Teaching, Evangelism
and Counselling 75,968 - 75,968 77,116
───── ───── ─────
2023 Total 141,500 - 141,500
═════ ═════ ═════ ─────
2022 Total 150,689 - 150,689
═════ ═════ ═════
5. GRANTS PAYABLE
Unrestricted Restricted 2023 2022
funds funds Total Total
£ £ £ £
Kaduna Church of Christ - 2,287 2,287 3,805
Moldova Church of Christ 1,000 - 1,000 1,000
South Asian Missions Society - 40,000 40,000 40,000
SAY Women 75 - 75 215
Sutton Community Works - 330 330 -
HOPE_worldwide_ 5,804 - 5,804 3,804
───── ───── ─────
2023 Total 6,879 42,617 49,496
═════ ═════ ═════ ─────
2022 Total 8,008 43,805 51,813
═════ ═════ ═════

These grants were for the furtherance of the Gospel and relief of poverty in line with the charity’s primary objectives.

ICC MISSIONS

Notes to the Financial Statements for the year ended 31 December 2023 (continued)

6. ANALYSIS OF TOTAL EXPENDITURE

Other
Staff Facility Grants direct Support 2023 2022
costs hire payable costs costs Total Total
£ £ £ £ £ £ £
Charitable expenditure
Kingdom Kids & Youth
Ministry		 0 83,713 0 17,300 6,701 107,714 109,862
Preaching, Teaching,
Evangelism and Counselling		 1,409,977 217,953 6,879 433,872 137,223 2,205,904 2,233,612
Benevolence & Missions 0 0 42,617 12,170 3,634 58,421 68,416
───── ───── ───── ───── ───── ───── ─────
1,409,977 301,666 49,496 463,342 147,558 2,372,039 2,411,890
═════ ═════ ═════ ═════ ═════ ═════ ═════

Support costs comprise the following:

Kingdom Kids Preaching, Benevolence Total
& Youth Teaching, & Missions
Ministry Evangelism &
Counselling
£ £ £ £
Support salaries 3,786 77,538 2,053 83,377
Contract staff 554 11,336 300 12,190
Travel, retreats & conferences 241 4,926 130 5,297
Insurance and finance charges 177 3,634 96 3,907
Postage, printing & stationary 27 548 15 590
Training 20 414 11 445
IT & website costs 774 15,851 420 17,045
Child protection 117 2,398 64 2,579
Professional fees 813 16,641 441 17,895
Other 192 3,937 104 4,233
───── ───── ───── ─────
6,701 137,223 3,634 147,558
═════ ═════ ═════ ═════

Support costs have been allocated on the basis of estimated usage of resources.

Governance costs were £139,055 (2022: £27,105).

ICC MISSIONS

Notes to the Financial Statements for the year ended 31 December 2023 (continued)

7. NET INCOME

2023 2022
£ £
Net income for the year is stated after charging:
Auditors’ remuneration:
For audit services 11,250 10,800
Other services - -
Depreciation 1,812 1,695
Operating Lease Rentals - Buildings - 27,500
═════ ═════
8. INFORMATION REGARDING EMPLOYEES AND TRUSTEES
2023 2022
Total number of employees during the year
Ministers of Religion 33 40
Accounts & Administration 3 2
───── ─────
36 42
═════ ═════
2023 2022
Average number of employees (full-time equivalents) during the year
Ministers of Religion 28 33
Accounts & Administration 2 1
───── ─────
30 34
═════ ═════
2023 2022
£ £
Staff costs comprise:
Gross wages and salaries 1,150,967 1,245,497
Employer’s National Insurance 106,716 118,362
Employer’s Pension Contributions 129,944 141,611
───── ─────
1,387,627 1,505,470
═════ ═════

ICC MISSIONS

Notes to the Financial Statements

for the year ended 31 December 2023 (continued)

During the year, payments for termination by mutual consent of £38,541 (2022: £23,886) were paid to 2 staff (2022: 2).

No members of staff earned more than £60,000 pro rata during the year to 31 December 2023 or in the previous year. Salary and Employer National Insurance received by the 1 (2022:1) key management personnel totalled £53,017 (2022: £43,010).

Trustees

No Trustee or person related to or connected by business to them has received any remuneration from the charity during the year for carrying out their duties as Trustees.

During the year, total expenses reimbursed to 3 Trustees (2022: 2) amounted to £1,913 (2022: £225). This principally relates to the cost of attendance at board meetings and reimbursement of expenses incurred during the performance of their duties as Trustees.

The Trustees sometimes act as agents for the charity, i.e., make purchases on its behalf for which they are reimbursed.

9. TANGIBLE FIXED ASSETS

Total
£
Cost
1 January 2023 21,631
Additions 1,189
────
31 December 2023 22,820
Accumulated depreciation
1 January 2023 18,541
Charge in the year 1,812
────
31 December 2023 20,353
Net book value at 31 December 2022 3,090
════
Net book value at 31 December 2023 2,467
════

ICC MISSIONS

Notes to the Financial Statements for the year ended 31 December 2023 (continued)

10. DEBTORS

2023 2022
£ £
DUE WITHIN ONE YEAR
Tax recoverable 26,356 26,937
Prepayments 39,956 23,821
House Deposits 12,155 15,367
Other debtors 32,346 27,880
───── ─────
110,813 94,005
═════ ═════
11. CREDITORS
2023 2022
£ £
DUE WITHIN ONE YEAR
Accruals 68,800 60,504
───── ─────
68,800 60,504
═════ ═════

ICC MISSIONS

Notes to the Financial Statements for the year ended 31 December 2023 (continued)

12. FUNDS ANALYSIS

2023 Benevolence Missions Total Unrestricted 2023
fund fund Restricted fund Total
funds
£ £ £ £ £
Brought forward at
1 January 2022		 41,835 475,506 517,341 1,893,049 2,410,390
Income 21,898 225,242 247,140 2,220,613 2,467,753
Expenditure (12,151) (171,045) (183,196) (2,188,843) (2,372,039)
Transfers 172 - 172 (172) -
──── ──── ──── ──── ────
Carried forward at
31 December 2023		 51,754 529,703 581,457 1,924,647 2,506,104
════ ════ ════ ════ ════
2022 Benevolence Missions Total Unrestricted 2022
fund fund Restricted fund Total
funds
£ £ £ £ £
Brought forward at
1 January 2022		 40,672 434,788 475,460 1,832,760 2,308,220
Income 21,030 274,395 295,425 2,218,635 2,514,060
Expenditure (19,867) (233,677) (253,544) (2,158,346) (2,411,890)
Transfers - - - - -
──── ──── ──── ──── ────
Carried forward at
31 December 2022		 41,835 475,506 517,341 1,893,049 2,410,390
════ ════ ════ ════ ════

The 2023 fund transfers enabled some churches to meet benevolent needs when their local benevolent funds were insufficient.

The Benevolence Fund represents funds donated by members of the congregation for local and international benevolence needs.

The Missions Fund represents funds donated to support mission projects both in the UK and overseas.

ICC MISSIONS

Notes to the Financial Statements for the year ended 31 December 2023 (continued)

Analysis of net assets between funds - current year

Unrestricted Restricted 2023 Total
£ £ £
Fixed Assets 2,467 - 2,467
Current Assets 2,032,930 583,745 2,616,675
Current Liabilities (110,750) (2,288) (124,038)
───── ───── ─────
2023 Total 1,924,647 581,457 2,506,104
═════ ═════ ═════

Analysis of net assets between funds – prior year

Unrestricted Restricted 2022 Total
£ £ £
Fixed Assets 3,090 - 3,090
Current Assets 1,950,463 517,341 2,467,804
Current Liabilities (60,504) - (60,504)
───── ───── ─────
2022 Total 1,893,049 517,341 2,410,390
═════ ═════ ═════

13. TAXATION

The charity’s activities are exempt from taxation under Section 505 of the Income and Corporation Taxes Act 1998.

14. COMMITMENTS

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £129,944 (2022: £141,611). Contributions totalling £0 (2022: £0) were payable to the fund at the balance sheet date.

15. PROVISION

The charity has reached a settlement of the legal dispute which was ongoing post year end. The charity’s assessment is that the provision reflects the legal costs incurred post year end in relation to this dispute as well as the settlement agreement. This provision has increased current liabilities by £44,238.

16. MEMBERS

The charity is incorporated as a company limited by guarantee having no share capital and, in accordance with the Memorandum of Association, every member is liable to contribute a sum of £1 in the event of the company being wound up. At 31 December 2023 there were 9 members.

ICC MISSIONS

Notes to the Financial Statements for the year ended 31 December 2023 (continued)

17. RELATED PARTIES

Donations from Trustees totalling £100,519 (2022: £109,368) were received during the year.

One Trustee is the Chair of HOPE worldwide, which received grants of £5,804 (2022: £3,804).