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2023-03-31-accounts

REGISTERED CHARITY NUMBER: 1095446

Financial Statements for the Year Ended 31 March 2023

for

Ministries Without Borders International

The Rowleys Partnership Ltd Statutory Auditors Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP

Ministries Without Borders International

Contents of the Financial Statements for the Year Ended 31 March 2023

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 7
Report of the Independent Auditors 8 to 11
Statement of Financial Activities 12
Balance Sheet 13 to 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 27

Ministries Without Borders International

Reference and Administrative Details for the Year Ended 31 March 2023

TRUSTEES D Aubrey (resigned 14.10.22) D Gregg J C P Smith J Ashton-Davies PRINCIPAL ADDRESS All Nations Centre Sachville Avenue Heath Cardiff CF14 3NY

PRINCIPAL ADDRESS

REGISTERED CHARITY NUMBER 1095446

AUDITORS

The Rowleys Partnership Ltd Statutory Auditors Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP

Page 1

Ministries Without Borders International

Report of the Trustees for the Year Ended 31 March 2023

The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, Charities Act 2011 and 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 published in October 2019.

OBJECTIVES AND ACTIVITIES

Overview of the charity

Ministries Without Borders is very well established and actively engaged in the promotion of the Christian gospel in the UK and throughout the world. It works with churches and individuals to take the message of the gospel to every nation believing that there is no country that cannot be entered or borders crossed if God tells you to go.

As Ministries Without Borders, we help individuals, churches and communities with practical assistance and financial aid. The finances to support this work come from the generous faith fueled giving of our partners in the gospel around the U.K. and beyond. We are so grateful to the individuals and churches that partner with us. They all know that funds given, will get to the point of need, with a minimum of administration costs and help to show the practical love of Jesus and advance the gospel across the nations.

OBJECTIVES AND ACTIVITIES

The objectives of Ministries Without Borders are to be carried out in such parts of the United Kingdom or the world as the Trustees deem appropriate.

Our core objectives are:

Page 2

Ministries Without Borders International

Report of the Trustees for the Year Ended 31 March 2023

OBJECTIVES AND ACTIVITIES Public benefit

Ministries Without Borders has advanced the gospel through various evangelism initiatives. Churches and the wider communities have benefitted from many activities and community programmes for all ages, both in the UK and abroad.

Ministries Without Borders has helped those in need, experiencing hardship, those in distress, or having issues with age or sickness, both in the local community and further afield.

Finance has been made available to provide food, clothing and shelter or other resources as required.

Ministries Without Borders has provided instruction in the Christian faith by running conference and training events to equip all who attend.

Covenant College, based in Cardiff - has provided a 10 month full time course to provide students with a wide range of bible based and practical evangelism teaching helping the students to become biblically strong, spiritually passionate, socially aware and culturally relevant. Many of the students go on after graduation to become leaders in their local churches or take on other significant roles to further the gospel.

Page 3

Ministries Without Borders International

Report of the Trustees for the Year Ended 31 March 2023

ACHIEVEMENT AND PERFORMANCE Charitable activities

The charity has provided financial support throughout the UK and to many countries overseas. Below is a global snapshot of our involvement:

ACTIVITIES, INITIATIVES AND SUPPORT PROVIDED 2022/2023

World Watch Conference: We hosted this in Cardiff with contributions from India, Belarus, Cuba, the Philippines, the United Kingdom, Kenya and Ukraine - we focused on the growing of the gospel and making a difference in the Nations.

Youth Conference: Hosted at Cefn Lea, Mid-Wales - Around 150 teens joined together over a weekend to be encouraged, stirred and sharpened in their faith.

Prophetic ministry gatherings: A group of prophetic people have been regularly gathering for encouragement and instruction around the country - the aim is to continue to develop this in the coming year.

National Days of Prayer: During the year, 3 days were set aside when the churches and individuals could join together regionally in fasting and praying for our nation & world.

Social media and website: During this last year, as we have moved out of Covid restrictions, there has been financial input and development of this work, in an attempt to improve our social media presence - highlighting good news, the advance of the Kingdom of God and proclamation of the gospel around the nations.

MINISTRY SUPPORT & DEVELOPMENT

Various ministry trips and gatherings have been co-coordinated and supported by 'Ministries Without Borders' during the last year - including getting together apostles and other Ephesians for ministry gifts. Support has also been provided for ministries into Norway, Philippines and Brazil.

We would like to take a moment to publicly acknowledge the passing during the last year of Bryan Shutt, a dear friend and covenant partner in the gospel. His apostolic ministry touched individuals and nations - his revelation in God, encouragement to so many of us, as well as his unique teaching and humour, marked him out, in a life that touched many other lives. - He is survived by his dear wife Hazel and although now 'home with the Lord', is sorely missed.

EVANGELISM SUPPORT:

A variety of support has been given to teams and individuals who went on missions to places including Valencia, Swaziland and Sri Lanka. Further support has been given to 'Circuit Riders' in the U.S.A..

In addition, YWAM teams from Brazil have visited the Welsh and northern churches in the U.K. and have seen many people prayed for and receive Christ. There have been others who have been healed and many stories of encouragement to continue to witness as a result of the teams presence and encouragement.

SUPPORT INTO THE NATIONS

Ukraine: Due to the illegal war Russia is waging, there is great need in Ukraine. Ministries Without Borders, working with Samaritans Purse provided £25,000 in order to help set up an emergency aid centre. Later in the year, in anticipation of the onset of Winter, £7,424 was given for the purchase of stoves.

Page 4

Ministries Without Borders International

Report of the Trustees for the Year Ended 31 March 2023

Belarus: Support has been given to the church and leaders in Belarus as they face difficult and challenging times.

Cuba - Methodist Church and the leaders: We have continued to provide encouragement and support to the leadership of the Methodist Church of Cuba.

India - Building work supported: Ministries Without Borders provided a financial gift to help see a local church complete a building work that will serve the local area.

Poor & Needy support:

We have throughout the year been able to support many people from our 'poor and needy' fund in countries including Belarus, Cuba, Philippines, Spain, Bhutan and Canada. This support has provided: assistance to study, material goods and appliances and support for various individuals and families in their times of need and hardship.

FINANCIAL REVIEW

Financial review and reserves policy

Full details of the financial transactions are contained in the attached accounts. The total incoming resources for the year were £617,486 (2022 - £515,187), and after deducting resources expended of £581,305 (2022 - £587,938), this resulted in a surplus for the year of £36,181 (2022 deficit of £72,751). The net assets of the Charity at 31 March 2023 amounted to £1,580,366 (2022 - £1,544,185) of which £132,706 (2022 - £99,935) was restricted.

The level of reserves will vary depending on the level of income as well as unexpected projects and opportunities we will support as Ministries Without Borders. As a minimum, we expect to carry a reserve level of £100,000, excluding restricted funds.

It is acknowledged by the Trustees that funds are currently high at the balance sheet date. Our reserves policy indicates that we will hold a minimum of 6 months "running costs" in our accounts and significant other reserves that enable the Charity to rapidly respond to needs that "suddenly" happen around the world.

The trustees continue to maintain a holding of £400,000 towards the potential purchase of a property.

In light of the current economic climate, we believe it is prudent to hold additional funds both from an income and poor & needy perspective. The Trustees are also always cognisant of the possibility of a property being purchased and while substantial funds have been designated for this, more maybe required.

Page 5

Ministries Without Borders International

Report of the Trustees for the Year Ended 31 March 2023

FUTURE PLANS

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

Ministries Without Borders International is constituted by a Declaration of Trust dated 28 August 2002 and is a Registered Charity, numbered 1095446.

The Trustees who served during the year were:

D Aubrey - resigned 14 October 2022 D Gregg J C P Smith J Ashton-Davies

The Trustees are responsible for the appointment and training of any new Trustee, including awareness of a Trustee's responsibilities, the trust deed, charitable objectives and procedures.

Trustee meetings are held quarterly, and regular contact is maintained throughout the year to determine the distribution of funds.

Page 6

Ministries Without Borders International

Report of the Trustees for the Year Ended 31 March 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

05/10/2023 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

J C P Smith

signed on 05/10/2023, 13:48:15 BST .................................................. J C P Smith - Trustee

Page 7

Report of the Independent Auditors to the Trustees of Ministries Without Borders International

Opinion

We have audited the financial statements of Ministries Without Borders International (the 'charity') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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 (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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 charity'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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Page 8

Report of the Independent Auditors to the Trustees of Ministries Without Borders International

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 Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.

Page 9

Report of the Independent Auditors to the Trustees of Ministries Without Borders International

Our responsibilities for the audit of the financial statements

We have been appointed as auditors 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 a Report of the Independent Auditors 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:

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 Report of the Independent Auditors.

Page 10

Report of the Independent Auditors to the Trustees of Ministries Without Borders International

Use of our report

This report is made solely to the charity'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 charity'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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

signed on 09/10/2023, 15:59:14 BST

The Rowleys Partnership Ltd Statutory Auditors Chartered Accountants Eligible to act as auditors in terms of Section 1212 of the Companies Act 2006 Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP 09/10/2023 Date: .............................................

The notes form part of these financial statements

Page 12

Ministries Without Borders International

Statement of Financial Activities for the Year Ended 31 March 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Ministry
Tuition, course and graduation fees
Other
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
15
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
453,369
27,329
480,698
8,371
288,332
88,508
83,912
469,123
11,575
(8,165)
3,410
1,444,250
1,447,660		 Restricted
funds
£
136,788
-
136,788
53,592
17,940
40,522
128
112,182
24,606
8,165
32,771
99,935
132,706		 2023
Total
funds
£
590,157
27,329
617,486
61,963
306,272
129,030
84,040
581,305
36,181
-
36,181
1,544,185
1,580,366		 2022
Total
funds
£
489,612
25,575
515,187
127,470
381,915
-
78,553
587,938
(72,751)
-
(72,751)
1,616,936
1,544,185

The notes form part of these financial statements

Page 12

Ministries Without Borders International

Balance Sheet 31 March 2023

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS		 Unrestricted
fund
£
303,986
4,406
1,164,982
1,169,388
(25,714)
1,143,674
1,447,660
1,447,660		 Restricted
funds
£
-
3,950
149,059
153,009
(20,303)
132,706
132,706
132,706		 2023
Total
funds
£
303,986
8,356
1,314,041
1,322,397
(46,017)
1,276,380
1,580,366
1,580,366		 2022
Total
funds
£
309,939
-
1,259,576
1,259,576
(25,330)
1,234,246
1,544,185
1,544,185

The notes form part of these financial statements

continued...

Page 13

Ministries Without Borders International

Balance Sheet - continued 31 March 2023

FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS		 1,447,660
132,706
1,580,366		 1,444,250
99,935
1,544,185

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 09/10/2023

Julie Ashton-Davies

signed on 09/10/2023, 09:01:40 BST ............................................. J Ashton-Davies - Trustee

signed on 06/10/2023, 12:39:39 BST ............................................. D Gregg - Trustee

J C P Smith

............................................. signed on 05/10/2023, 13:48:15 BST J C P Smith - Trustee

The notes form part of these financial statements

Page 14

Ministries Without Borders International

Cash Flow Statement for the Year Ended 31 March 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2023
£
52,217
52,217
(2,216)
4,464
2,248
54,465
1,259,576
1,314,041		 2022
£
(62,908)
(62,908)
-
130
130
(62,778)
1,322,354
1,259,576

The notes form part of these financial statements

Page 15

Ministries Without Borders International

Notes to the Cash Flow Statement for the Year Ended 31 March 2023

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Increase in debtors
Increase in creditors
Net cash provided by/(used in) operations		 2023
£
36,181
8,169
(4,464)
(8,356)
20,687
52,217		 2022
£
(72,751)
7,430
(130)
-
2,543
(62,908)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank
Total		 At 1.4.22
£
1,259,576
1,259,576
1,259,576		 Cash flow
£
54,465
54,465
54,465		 At 31.3.23
£
1,314,041
1,314,041
1,314,041

The notes form part of these financial statements

Page 16

Ministries Without Borders International

Notes to the Financial Statements for the Year Ended 31 March 2023

1. LEGAL STATUS OF THE CHARITY

Ministries Without Borders International is an unincorporated charity which is constituted by a Declaration of Trust dated 28 August 2002. The charity is registered with the Charity Commission under charity number 1095446. The registered office is All Nations Centre, Sachville Avenue, Heath, Cardiff CF14 3NY.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants payable are accounted for when they are paid or become legally enforceable.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Allocation and apportionment of costs

Governance costs comprise the costs of running the charity, including audit fees, legal advice and all costs in connection with statutory compliance and public accountability.

Tangible fixed assets

All tangible assets are capitalised and included at cost.

Depreciation has been provided to write off the cost less estimated residual values of tangible fixed assets, other than freehold land over their expected useful lives using the following rates

continued...

Page 17

Ministries Without Borders International

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets

Furniture and fittings 20% on cost Music and computer equipment 33.3% on cost Long leasehold property 2% on cost

Taxation

The Trust is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.Where gifts relate to capital items acquired or concern building issues, an appropriate transfer is made between restricted and unrestricted funds.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Concessionary loans

The charity provides interest free loans to other churches and institutions, these loans are not made to achieve a financial return but wholly to advance charitable purposes for the benefit of the charity's beneficiaries and are deemed as social investments.

These loans carry no formal repayment terms and are deemed repayable on demand, as a result the carrying amount of these loans has not been adjusted to fair value and are shown as other debtors due in less than one year.

Cash and cash equivalents

Cash and cash equivalents comprise cash in hand and cash on deposit.

Significant estimates and judgements

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include the following:

continued...

Page 18

Ministries Without Borders International

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

3. DONATIONS AND LEGACIES

Unrestricted
funds
£
Gifts
453,369
Conference fees
-
453,369		 Restricted
funds
£
121,174
15,614
136,788		 2023
Total
funds
£
574,543
15,614
590,157		 2022
Total
funds
£
488,772
840
489,612

4. INVESTMENT INCOME

Unrestricted
Restricted
funds
funds
£
£
Rents received
22,865
-
Deposit account interest
4,464
-
27,329
-		 2023
Total
funds
£
22,865
4,464
27,329		 2022
Total
funds
£
25,445
130
25,575

continued...

Page 19

Ministries Without Borders International

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

5. RAISING FUNDS

Raising donations and legacies

Unrestricted
funds
£
Room hire, catering and conference
costs
7,568
Accommodation costs
803
Tuition, course and graduation fees
-
8,371		 Restricted
funds
£
17,018
16,537
20,037
53,592		 2023
Total
funds
£
24,586
17,340
20,037
61,963		 2022
Total
funds
£
2,983
14,128
110,359
127,470

6. CHARITABLE ACTIVITIES COSTS

Ministry
Support, Mission and Ministry expenses
7.
GRANTS PAYABLE
Ministry
An analysis of grants payable for the year:
Ministry gifts
Other gifts		 Direct
Costs
£
-
129,030
129,030		 Grant
funding of
activities
(see note
7)
£
306,272
-
306,272		 Totals
£
306,272
129,030
435,302
2022
£
381,915
31.3.22
£
351,907
30,008
381,915
2023
£
306,272
31.3.23
£
254,972
51,300
306,272

continued...

Page 20

Ministries Without Borders International

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

8. SUPPORT COSTS

SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Other resources expended 75,136 8,904 84,040
Support costs, included in the above, are as follows:
2023 2022
Other
resources Total
expended activities
£ £
Wages 45,054 41,788
Social security - 118
Pensions 2,457 2,182
Rent, rates and insurance 14,419 9,491
Sundries 5,037 11,440
Depreciation of tangible assets 8,169 7,430
Auditors' remuneration 7,800 5,400
Bank charges 1,104 704
84,040 78,553

9. TRUSTEES' REMUNERATION AND BENEFITS

The remuneration was paid in respect of administrative services and not for the role of a Trustee. This amounted to £5,725 for J Ashton-Davies for the year ended 31 March 2023 (2022: £2,750).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2023
£
45,054
-
2,457
47,511		 2022
£
41,788
118
2,182
44,088

The average monthly number of employees during the year was as follows:

2023 2022
Administration staff 2 2

continued...

Page 21

Ministries Without Borders International

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

10. STAFF COSTS - continued

No employees received emoluments in excess of £60,000.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Ministry
Other
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
399,423
25,575
424,998
54,192
277,329
78,553
410,074
14,924
(25,995)
(11,071)
1,455,321
1,444,250		 Restricted
funds
£
90,189
-
90,189
73,278
104,586
-
177,864
(87,675)
25,995
(61,680)
161,615
99,935		 Total
funds
£
489,612
25,575
515,187
127,470
381,915
78,553
587,938
(72,751)
-
(72,751)
1,616,936
1,544,185

continued...

Page 22

Ministries Without Borders International

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

12. TANGIBLE FIXED ASSETS

Long
leasehold
£
COST
At 1 April 2022
371,479
Additions
-
At 31 March 2023
371,479
DEPRECIATION
At 1 April 2022
61,540
Charge for year
7,430
At 31 March 2023
68,970
NET BOOK VALUE
At 31 March 2023
302,509
At 31 March 2022
309,939
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments and accrued income		 Fixtures
and
fittings
£
4,265
-
4,265
4,265
-
4,265
-
-		 Computer
equipment
£
21,998
2,216
24,214
21,998
739
22,737
1,477
-
2023
£
4,406
3,950
8,356		 Totals
£
397,742
2,216
399,958
87,803
8,169
95,972
303,986
309,939
2022
£
-
-
-

continued...

Page 23

Ministries Without Borders International

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£
Social security and other taxes
-
1,348
Accruals and deferred income
46,017
23,982
46,017
25,330
2023
2022
£
£
Deferred income
Deferred income at 1 April 2022
-
-
Resources deferred in the year
20,303
-
Amounts released from previous years
-
-
Deferred income at 31 March 2023
20,303
-
At the reporting date, the charity was holding funds in relation to events that are due to take plac
in 2023/24.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At
At 1.4.22
in funds
funds
31.3.23
£
£
£
£
Unrestricted funds
General fund
1,444,250
11,575
(8,165)
1,447,660
Restricted funds
Poor & Needy
15,700
36,530
-
52,230
Covenant College
22,763
(10,734)
(671)
11,358
Conference
-
(1,468)
8,836
7,368
Literature
17,523
-
-
17,523
Evangelism
43,949
278
-
44,227
99,935
24,606
8,165
132,706
TOTAL FUNDS
1,544,185
36,181
-
1,580,366		 2023
£
-
46,017
46,017
2023
£
-
20,303
-
20,303		 2023
£
-
46,017
46,017
2023
£
-
20,303
-
20,303		 2022
£
1,348
23,982
25,330
2022
£
-
-
-
-
to take plac
At
31.3.23
£
1,447,660
52,230
11,358
7,368
17,523
44,227
132,706
1,580,366

At the reporting date, the charity was holding funds in relation to events that are due to take place in 2023/24.

15. MOVEMENT IN FUNDS

continued...

Page 24

Ministries Without Borders International

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Poor & Needy
Covenant College
Conference
Evangelism
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Poor & Needy
Covenant College
Conference
Literature
Evangelism
Publications
Times of Restoration
TOTAL FUNDS		 At 1.4.21
£
1,455,321
72,291
2,710
-
5,118
69,091
3,029
9,376
161,615
1,616,936		 Incoming
resources
£
480,698
54,470
25,904
15,614
40,800
136,788
617,486
Net
movement
in funds
£
14,924
(56,591)
(3,799)
(2,143)
-
(25,142)
-
-
(87,675)
(72,751)		 Resources
expended
£
(469,123)
(17,940)
(36,638)
(17,082)
(40,522)
(112,182)
(581,305)
Transfers
between
funds
£
(25,995)
-
23,852
2,143
12,405
-
(3,029)
(9,376)
25,995
-		 Movement
in funds
£
11,575
36,530
(10,734)
(1,468)
278
24,606
36,181
At
31.3.22
£
1,444,250
15,700
22,763
-
17,523
43,949
-
-
99,935
1,544,185

continued...

Page 25

Ministries Without Borders International

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Poor & Needy
Covenant College
Conference
Evangelism
TOTAL FUNDS		 Incoming
resources
£
424,998
46,546
24,265
840
18,538
90,189
515,187		 Resources
Movement
expended
in funds
£
£
(410,074)
14,924
(103,137)
(56,591)
(28,064)
(3,799)
(2,983)
(2,143)
(43,680)
(25,142)
(177,864)
(87,675)
(587,938)
(72,751)

Restricted funds

Poor & Needy

The fund is to help with those in conditions of need, hardship, distress, aged or sick both in the local community and further afield. Finance has been made available to provide food, clothing and shelter as required.

Covenant College

The fund is to continue to train Christians helping them to become biblically strong, spiritually passionate, socially aware and culturally relevant. Covenant College remains a vital part of the message and mission of Ministries Without Borders.

Conference

The fund is for the instruction in the Christian faith by running conference and training events which were made open for anyone to attend.

Evangelism

The fund is for the advancement in gospel through evangelism programmes. Churches and the wider communities have benefitted from many activities and community programmes for all ages, both in the UK and abroad.

Transfers between funds

Transfers relate to a reallocation of funds as appropriate.

continued...

Page 26

Ministries Without Borders International

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

16. RELATED PARTY DISCLOSURES

During the year the Charity received £144,478 (2022 - £129,345) from All Nations Church Cardiff to whom is a closely connected Charity. They also made payments amounting to £23,881 (2022 - £10,046) to All Nations Church Cardiff.

During the year the Charity received donations of £125,120 (2022 - £120) from Sole 2 Soul Foundation in which J C P Smith is a trustee.

During the year the Charity made gifts of £7,500 (2022 - £22,398) to Hesed Trust in which J C P Smith is a trustee.

During the year the Charity received £6,550 (2022 - £9,735) from The Community Church Southport in which D Gregg is a trustee.

During the year £250 (2022: £Nil) of donations were received without conditions from trustees.

Amounts received and paid were done so for the fulfilment of the charity objectives.

All transactions with related parties were carried out at arms length and are in accordance with the Charity's objectives.

The long leasehold properties with a cost value of £371,479 are managed by 240 Whitchurch Road Management Company Limited. D Aubrey, D Gregg and J C P Smith are Directors of this company. The Charity also has a 60% shareholding in 240 Whitchurch Road Management Company Limited.

17. DESIGNATED FUNDS

The Charity has designated part of the general funds for the following purposes;

HEAP
Africa
Brazil
Mission
Property Fund		 At 1.4.22
£
128,927
12,577
3,340
109,908
400,000
654,752		 Voluntary
income
£
-
-
1,659
6,355
-
8,014		 Charitable
expenditur
e
£
(51,300)
(10,000)
(4,999)
(62,561)
-
(128,860)		 Transfer
s
£
-
-
-
-
-
-		 At
31.3.23
£
77,627
2,577
-
53,702
400,000
533,906

Page 27