CHRESTOS MISSION (Company limited by guarantee and not baving a share capital) Annual Report and Accounts for the year ended 31 December 2023 Company No: 4500963 Registered Charity No: 1095325
CHRESTOS MISSION Annual Report and Aceounts ror the year ended 31 December 2023 CONTENTS Page Trustees, Report Independent Examiner's Report Statement of Financial Activities (incorporating Income and Expenditure Account) Balance Sheet Notes to the Accounts 10-12
CHRESTOS MISSION TRUSTEES, REPORT for the year ended 31 December 2023 The Trustees present their report with the accounts of Chrestos Mission for the year ended 31 December 2023. REFERENCE AND ADMINISTRATIVE DETAILS Incorporation and company status Chrestos Mission was incorporated under the Companies Act 1985 as a private limited company on l August 2002. The company number is 4500963. It is constituted under its Memorandum and Articles of Association as a company limited by guarantee and not having a share capital. The company may have up to 12 members and the liability of the members in the event of Chrestos Mission being wound up is limited to £ l each. Charitable status Chrestos Mission was granted the status of a registered charity by the Charity Commission for England and Wales on 9 January 2003. Its registered number is 1095325. Charitable objects The objects of Chrestos Mission are: i) to advance Christianity by showing the love of Jesus Christ, in particular through missionary work and providing Christian literature and Bible classes. ii) to relieve poverty, suffering and distress in accordance with Christian principles, in particular by caring for the sick, training health workers, and providing medictnes, clothing, blankets and food. iii) to advance education, in particular by the provision of classes in the English language, computer science, and other subjects of use to those recetving such education. Chrestos Mission operates principally among the Karen people in Thailand. Address The registered address of Chrestos Mission is 2. Floor, 159a Chase Side, Enfield, EN2 OPW. STRUCTURE, GOVERNANCE AND MANAGEMENT Structure Chrestos Mission is governed by its Board of Trustees in the United Kingdom, who are also Directors of the company. The Mission's activities in Thailand require it to be registered as a charity in Thailand, and to have a Board of Trustees in Thailand who are responsible to the Government of Thailand for the local operations of the charity. Responsibilities to the Government include a local audit of the accounts, an annual safeguarding Investigation and report on the orphanage, and certain reports provided to the Mae Sariang local government office. The United Kingdom Board works closely with the Thailand Board and the two are mutually supportive in seeking to achieve the Mission's objectives. Responsibility for the day-to-day operations of Chrestos Mission in Thailand is given to the Director of Overseas Operations, Mr Wittaya Wanasatit, who is resident in Thailand.
CHRESTOS MISSION TRUSTEES, REPORT, continued for the year ended 31 December 2023 Trustees The following Trustees served on the United Kingdom Board during the year and up to the date of this report: AnthoT]y John Harrop Peter Maycock (Secretary) Nornian John Silverstone (Treasurer) Allison Christine Fitter Edward Frank Goveia Neil John Hardy Rosslyn Anne Hill Jacqueline Jennifer Wells OWECTIVES AND ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE Objectives The objectives of Chrestos Mission are its charitable objects as stated on page l . Review of aetivities during the year We are grateful for the dedication and hard work of our staff during the year. The numbers of staff in the employment of Chrestos Mission in 2023 according to their area of responsibility were: Male Female Tolal Director Office/administration Education Media/public relations Orphanage Grand total 16 The Bible School The numbers of students for the academ ic year 2023 were: Male Female Tolal 13 First Year Second Year Third Year Fourth Year Grand iolal 15 23 28 32 60 Students studied the Bible. biblical history and saving faith expressed in humility, forgiveness and love under the tutelage of Chrestos staff and visiting teachers to train them for pastoral responsibilities and other church-building responsibilities. Students study the entire Bible across a four year course, and on su¢¢essful completion of the course receive a certificate of graduation.
CHRESTOS MISSION TRUSTEES, REPORT, continued for the year ended 31 December 2023 Review of activities during the year, continued The Bible School, continued In addition to Biblical studies. students were taught musical instruments and music theory, computers and infonnation technology to use in their future evangelistic work, and agriculture techniques in such areas as planting crops, raising livestock and fisheries that they can use to support themselves and disseminate among the churches that they will serve in future years. Teaching was given to improve the competence of students in the English language. Lessons in the Karen language were offered to improve accuracy in reading and writing and to keep the heart language of the Karen people alive and relevant amongst all age ranges of Karen villagers. Chrestos supported the students in their health, in providing healthy food. teaching about good hygi¢ne. and protecting themselves from diseases. The students were encouraged to be active in playing sports and exercising to develop a healthy lifestyle. Chrestos joined with other organisations, government and private entities, to give the students opportunities to engage with wider society in serving the community as volunteers. A number of 4 year students spent five months in a field-based internship program in Karen villages. They were well recetved by the Karen churches, and the students received knowledge and experience to enable them to go on to serve God in future ministry. The Orphanage Chrestos has an orphanage for boys which is known as The Home of Peace and Joy. We had I I boys living in the orphanage during the year. The boys who enter the Home are supported in many ways, including in their education. with Chrestos paying the costs of their study for those students who are at educational institutions. The boys were enabled to exercise, play sports and take part in competitive sports as opportunities arose. Activities included planting vegetables and raising ducks as a way to train the boys to learn about and love agriculture for their future wellbeing. The boys wcre encouraged to join in worshipping God with the Bible College students, to study the Bible in Sunday School and to live in accordance with God's will. Media Chrestos Bible School has a media department that makes videos to broadcast as part of the 4 year students, activities. Gospel songs and students, sem]ons are recorded and posted on YouTube, Facebook and our website to spread the gospel and make Chrestos, activities known among internet users. Short wave radio has also been used to spread the gospel through semions and testimonies.
CHRESTOS MISSION TRUSTEES, REPORT, contlnued for the year ended 31 December 2023 Review of activities during the year, continued Supporl and Relief During the year Chrestos supported 14 evangelists in the district of Mae Sariang and beyond. We also supported Mae Sariang Christian Dormitory and Kun Yum Christian Dorniitory. Chrestos continues to provide help with food and assistance to people in poverty and those experiencing the effects of natural disasters. Oiher aclivilies Chrestos, many other activities include the Alumni Association, visiting churches and villages, student excursions to national sites, and community welfare activities. Plans for future periods The Board wishes to thank Mr Wittaya Wanasattt who has ably continued to serve as Director of Chrestos Mission Thailand during the year under review. Future leaders of various aspects of the work continue to be sought. Words of thanks from Chrestos Mission Foundation, Thailand We thank our righteous and almighty heavenly Father for allowing us to serve Him. We also thank our leaders and committee members in the UK and Thailand for all your dedication, guidance, and support which has enabled Chrestos Bible School to be run well year after year. We pray that the Lord our living God will bless you abundantly. Statement on public benefit In deciding what activities Chrestos Mission should undertake during the year, the Trustees have paid due regard to The Charity Commission's guidance on public benefit. The Trustees consider that the objects for which the charity was fomied as stated above, and the activities during the year as described above, are for the public benefit. Chrestos Mission teaches and seeks to put into practice the example and teachings of Jesus Christ as set out in the Bible. Our conviction is that when people take Jesus Christ and the Bible seriously, it prompts them to deliver public benefit. The Bible urges people to be good citizens, fully engaged in civil society, working for the good of fellow citizens everywhere of whatever race or creed. FINANCIAL REVIEW Results for the year The monies which have been given towards the objects for which Chrestos Mission was established, and ihe manner in which those monies have been expended or set aside for future use, are shown in the Statement ot. Financial Activities and the Balance Sheet on pages 6 to 8. The Trustees are pleased to report a surplus for the year of £76,228 (2022 - deficit of £27,482). With special thanks for a generous legacy of £56,114 received during the year, the Mission has been able to continue its full spectrum of operations and is trusting God for the building of student accommodation blocks and other capital improvements during 2024. Cash reserves at 31 December 2023 stood at £122,401 (2022 - £89,923).
CHRESTOS MISSION TRUSTEES, REPORT, continued for the year ended 31 December 2023 Results for the year, continued The Mission's major assets continue to be its buildings and facilities at Mae Sariang which are held in the name of its Thailand-registered charity, Chrestos Mission Foundation. We thank our friends, well- wishers and churches in the United Kingdom and overseas for their encouragement in prayers and financial support. Statement on risks The Trustees have given consideration to the major risks to which the charity is exposed. Systems have been designed and established to mitigate those risks. Trustees, responsibility for the accounts The Trustees (who are Directors of the company for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. Company law and the law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources for that year. In preparing those financial statements, the Trustees are required to: (i) select suitable accounting policies and apply them consistently. (li) observe the methods and principles of the Charities Statement of Recommended Practice. (iii) make judgments and estimates that are reasonable and prudent- (iv) state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and (v) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charity and financial infonnation included on the charity's website. Approved by the Trustees on J/ - o f - and signed on their behalf by Edward Frank Goveia
INDEPENDENT EXAMINER'S REPORT to the Trustees and Members on the unaudited accounts of CHRESTOS MISSION for the year ended 31 December 2023 I report to the charity Trustees on my examination of the accounts of Chrestos Mission for the year ended 31 December 2023, which are set out on pages 7 to 12. Responsibilities and basis of report As the Trustees of the charity (and also its directors for the purposes of company law). you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('thc 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 201 l Act. Independent Examiner's statement I have completed my examination. I confinn that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: ( l ) accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or (2) the accounts do not accord with those records. or (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination; or (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounls tn accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. rew Ge Chartered Accountant Geary Partnership Chartered Accountants 159a Chase Side. Enfield, EN2 OPW bp 202iF
CHRESTOS MISSION STATEMENT OF FINANCIAL ACTIVITIES (incorporating INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 December 2023 2023 2022 Unreslricled Reslricled Funds Funds Tolal Tolal INCOMING RESOURCES Donations and legacies General gifts received Legacies received Tax recoverable on gift aid income 108,442 56,114 108 34,185 142,627 56,114 2,147 76,730 2,039 2.110 164,664 36,224 200,888 78.840 Other income Bank interest received Sales of Karen publications Bible School student fees received Other sales and fees received 1,102 7,269 5,973 3,390 1,102 7,269 5,973 3,390 242 3,351 6,082 2,322 17.734 17,734 11,997 TOTAL INCOMING RESOURCES 182,398 36,224 218,622 90,837 RESOURCES EXPENDED Charitable activities (excluding capital expenditure shoivn in note 2 to the accounts) Bible School Orphanage Media Relief Thailand administration expenses 47,870 1,375 8,388 13.?54 19,033 25,247 73,117 10,705 8,937 13,254 20,131 58.341 13,li7 9.904 6,043 15,350 549 1,098 89,920 36,224 126.144 102,775 Governance costs UK accountancy fees Thailand audii fees ,200 1,200 1.200 703 1,200 1.200 1,903 Other expenditure UK website. communications and compliance Depreciation and profitlloss on sale of fixed assets Exchange loss/(gain) on overseas bank balances Bank charges 862 13,294 673 221 862 13,294 673 221 613 13,009 (198) 217 15,050 15.050 13,641 TOTAL RESOURCES EXPENDED 106,170 36.224 142,394 118J19 NET INCOMINGI(OUTCOING) RESOURCES FOR THE YEAR and NET MOVEMENT IN FUNDS 76,228 76,228 (27,482)
CHRESTOS MISSION STATEMENT OF FINANCIAL ACTIVITIES, continued (incorporating INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 December 2023 2023 2022 RECONCILIATION OF FUNDS (Note l(g) to the aeeounts) Unre.s¢ricledfunds.' General Fund Fund brought forward Incoming resources for the year (Outgoing) resources for the year 402,597 182,398 (106,170) 430,079 54,794 (82,276) Fund caled forward 478,825 402,597 Designated Fllnd: Orphanage Reserve Fund brought forward and carried forward 25,000 25,000 Reslricledfunds.. Sponsorship Fund Fund brought forward Incoming resources for the year: Bible School student sponsorships Orphan sponsorships Staff sponsorships 24,149 8,233 3,842 21,626 10,813 3,604 36,224 36,043 (Oulgoing) resources for the year: Bible School Orphanage Media Thailand administration expenses (25,247) {9,330) (549) (1,098) (22,827) (12,014) (601) (601) (36.224) (36,043) Fund carried forward
CHRESTOS MISSION (Company limited by guarantee and not having a share capital) Company number: 4500963 BALANCE SHEET 31 December 2023 2023 2022 Note FIXED ASSETS Tangible assets (Thailand) 374,183 332,580 CURRENT ASSETS Debtors Cash at bank and in hand.. United Kingdom Thailand 8,441 6,294 95,637 26.764 57,957 31.966 130,842 96.217 CREDITORS: Amounts falling due within one year (1,200) (1.200) NET CURRENT ASSETS 129,642 95,017 TOTAL ASSETS LESS CURRENT LIABILITIES 503,825 427,597 NET ASSETS 503,825 427,597 FUNDS (see page 8) Unre.slricted Fund.s.' General Fund Designated Fund: Orphanage Reserve l(g) 478,825 25,000 402,597 25,000 503.825 427,597 Reslricled Funds.. Sponsorship Fund TOTAL FUNDS 503,825 427.597 For the year ended 31 December 2023, the company was entitled io exemption from audit under subsection l of section 477 of the Companies Act 2006 (the Act). Members have not required the company to obtain an audit of its accounts for the year in question under the provisions of section 476 of the Act. The Trustees acknowledg¢ their responsibility for complying with the requirernents of the Act with respect to accounting records and preparaiion of accounts. Approved by the Direciors and Trustees on .. and signed on their behalf by .and. Edward Frank Goveia verstone (Treasurer)
CHRESTOS MISSION NOTES TO THE ACCOUNTS for the year ended 31 December 2023 I ACCOUNTING POLICIES a) Basis of accounting The accounts have been prepared in accordance with the Companies Act 2006 and the Statement of Recommended Practice 'Accounting and Reporting by Charities, (FRS 102) effective l January 2019. Where necessary the headings laid down in the Act have been adapted to meet the special activities of the charity. b) Income Gifts and legacies are accounted for when received by Chrestos Mission. Tax recoverable on gift aid income is accounted for when the gift aid income is received as far as it is prudent to do so. Revenue grants are credited to the income and expenditure account as received, unless related to a specific period, when they are placed in a restricted fund until used. e) Gifts in kind Chrestos Mission receives the benefit of work carried out by volunteers and receives the use of facilities and equipment without charge. No value is placed on these items in the accounts. d) Expenditure Expenditure is recognised on an accruals basis. Expenditure is therefore treated as incurred on the date it is invoiced, or the liability crystallises. e) Foreign Currencies Almost all of the expenditure of Chrestos Mission is incurred in Thailand. The Thai income and expenditure for the year has been translated into sterling pounds by converting at a rate of Baht 43.53 £1 (2022: Baht 43.17 = £1 }, being the avcrage rate that applied to transfers of Chrestos Mission funds from the United Kingdom to Thailand during the year. Ftxed assets in Thailand are stated in the balance shect at their historical conversion cost. Current assets in Thailand, including bank balances, are translated at the average rate shown above. This pol icy has the effect of eliminating all exchange differences in the accounts except for the gain or loss arising on retranslation of Thai bank balances held at the beginning of the year at the current year exchange rate. D Fixed assets and depreciation Fixed assets are stated in the balance sheet at cost, less a provision for depreciation. Depreciation is provided to write off the cost of fixed assets over their estimated useful lives at the following rates: Land - not depreciated Land preparation and building costs- 20/0 per annum on a straight line basis Equipment and installations- 250/0 per annum of reducing balance Music, studio and PA equipment- 250/0 per annum of reducing balance Furiiiture and fittings- 25 % per annum of reducing balance Molor vehicles- 25 /0 per annum of reducing balance 10
CHRESTOS MISSION NOTES TO THE ACCOUNTS, continued for the year ended 31 December 2023 I ACCOUNTING POLICIES, continued g) Fund$ Unrestricted funds are funds which can be used in accordance with the charitable objects of Chrestos Mission at the discretion of the trustees. The Mission's main unrestricted fund is the General Fund, which may be used for any purpose within the charitable objects of the Mission. Designated funds are a fomi of unrestricted funds which have been designated for a specific usage by the trustees. The Orphanage Reserve was established in 2014 in recognition of Chrestos Mission's commitment to the children in the orphanage at Mae Sariang, by providing a reserve fund for the continuance of the orphanage in the event that the flow of income into the Mission is temporarily halted or reduced to levels insufficient to cover ongoing expenses. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised for particular purposes. The Sponsorship Fund was established to receive sponsorship monies given toward the costs of Bible School students, orphans and staff maintained by Chrestos Mission at Mae Sariang. 2 FIXED ASSETS Music, Land & Equipment studio&PA Furniture buildings & Rnstllns equipment & fittings Motor vehicles Total Cost At l January 2023 Additions in the year Disposals in the year 415,760 52,250 28,528 1,032 32,977 1,332 45.688 283 40.492 563,445 54,897 At 31 December 2023 468,010 29,560 34,309 45,971 40,492 618,342 Depreciation At l January 2023 Charge for the year Eliminated on disposals 100.272 8,358 23,578 1,496 30,431 969 41,370 35,214 1,320 230,865 13,294 At 31 December 2023 108,630 25,074 31,400 42,521 36,534 244,159 Net book value At 31 December 2023 359,380 4.486 2,909 3,450 3,958 374,183 At 31 December 2022 315,488 4,950 2,546 4.318 5,278 332,580 All of the fixed assets shown above are situated in Thailand. The land and buildings are held in the name of the Thailand-registered charity, Chrestos Mission Foundation.
CHRESTOS MISSION NOTES TO THE ACCOUNTS, continued for the year ended 31 December 2023 3 DEBTORS 2023 2022 Tax recoverable on gift aid income 8,441 6,294 4 CREDITORS: Amounts f211ing due within one year 2023 2022 Expenditure accruals 1,200 1,200 5 ANALYSIS OF NET ASSETS BETWEEN FUNDS (Note l(g)) General Designated Restrieted Fund Funds Funds Total Tangible fixed assets Debtors Cash at bank and in hand - UK Thailand 374,183 8,441 70,637 26,764 (1,200) 374,183 8,441 95.637 26,764 (1,200) 25,000 Creditors Net assets at 31 December 2023 478,825 25,000 503,825 6 PAYMENTS TO TRUSTEES AND CONNECTED PERSONS No remuneration was paid to any Trustee, nor to any person connected with a Trustee, during the year. 12