ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
Chosen People Ministries (UK)
(A company limited by guarantee) Charity registration number: 1095644 Company registration number: 04611406
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham, Chichester West Sussex PO18 8NF
CHOSEN PEOPLE MINISTRIES (UK)
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Statement of Cash Flows | 11 |
| Notes to the Financial Statements | 12 to 23 |
CHOSEN PEOPLE MINISTRIES (UK)
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees Mr T Bath, Chairman Mr M Tetzlaff Mr P Refson Rev K Page Dr M Glaser Mrs A Bath Mr J Cuozzo Mrs S Kaluba Makukula Mr K Park (appointed 20 March 2023) Secretary Mrs N Cooke Charity Registration 1095644 Number Company Registration 04611406 Number The charity is incorporated in England. Registered Office 32a North End Road Golders Green London NW11 7PT Independent Examiner G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham, Chichester West Sussex PO18 8NF Bankers HSBC Plc 897 Finchley Road Golders Green London NW11 7NX
Page 1
CHOSEN PEOPLE MINISTRIES (UK)
TRUSTEES' REPORT
The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 June 2023.
Structure, governance and management
Nature of governing document
Chosen People Ministries (UK) is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
Recruitment and appointment of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
Organisational structure
The company secretary administers the charity on a daily basis having delegated authority from the Board of Trustees to deal with operational matters. The Board meets three times a year.
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Objectives and activities
Objects and aims
The charity's objects are the advancement of the gospel of the Lord Jesus Christ primarily amongst Jews in the UK and all other parts of the world by such means as are charitable by law.
Public benefit
Chosen People Ministries (UK) provides benefit to the public in enabling individuals to realise their spiritual potential to have a relationship with God, through His Son, Messiah, Yeshua (Jesus Christ); thereby, enabling individuals to lead happier and more productive lives, benefiting not only themselves, but their families, communities and country.
Our outreach programme includes evangelism and discipleship, a messianic congregation, equipping local churches for Jewish evangelism through our "Isaiah 53" campaign and "I Found Shalom" videos and benevolence work.
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
CHOSEN PEOPLE MINISTRIES (UK)
TRUSTEES' REPORT
Achievements and performance
OUR HERITAGE - CHOSEN PEOPLE MINISTRIES HAS BEEN ESTABLISHED FOR 127 YEARS.
In 1862, in the ghetto of the little town of Berenza in eastern Hungary, a family of orthodox Jews joyfully welcomed a new son, Leopold Cohn, whose destiny would become interwoven with the future of Jewish people across two continents. At the tender age of seven years old, Leopold lost both of his parents and he and his sister became orphans. This tragic loss combined with the loneliness and isolation of ghetto life caused Leopold to cry out to God for help and comfort. The Lord answered Leopold’s prayers and guided his steps throughout the rest of his childhood and as a young adult, providing an illustrious rabbinic career.
It was during his years of rabbinic study that certain portions of Scripture leapt off the page to Rabbi Leopold, especially the passages in the book of Daniel that describe the timeline of Messiah’s coming. Cohn was perplexed, but a rabbi in a distant town advised him to go to America where people knew more about the Messiah, so Cohn immediately made his preparations to leave for the United States.
Rabbi Leopold Cohn
In New York Rabbi Cohn walked by a church where there was a sign with Hebrew letters saying “Meetings for Jews.” Too curious to turn away, Cohn entered the church, and to his utter amazement, the room was packed with 800 or so Jewish men and women. There was even a choir of Jewish girls singing “At the cross…” Cohn found this confusing but he stayed to hear some of the preaching. He was fascinated … but as an observant Orthodox Jew he was also disgusted … there were many cultural things that were off-putting to his traditional Jewish upbringing. Subsequently he visited the preacher at his home, and after much discussion, the preacher gave him a New Testament in Hebrew to read. As Leopold read the New Testament, he came to realize that Jesus was the true Jewish Messiah!
In 1892 Rabbi Cohn sailed to Britain to study at New College Edinburgh and had a strong desire to share this news, especially with his own people. It was notably in Scotland that an interest in this message had taken root in the churches. Godly men like Andrew Bonar and Robert Murray McCheyne were key to this.
The New York headquarters of Chosen People Ministries, circa 1909
Page 3
CHOSEN PEOPLE MINISTRIES (UK)
TRUSTEES' REPORT
His training completed, Leopold Cohn travelled on to New York where in 1894 he founded a mission that was to become Chosen People Ministries. The work grew steadily over the years and now operating autonomously in 17 countries of the world.
In the UK It was in 1938, on the brink of WW2, the director of CPM responded to an appeal from Jewish believers in Kishineff for emergency aid. Consequently, along with others, Leon and Marie Awerbuch escaped from Bessarabia to England and began working among the Jews of London. The CPM contribution to this work continued until 1964.
During the 1990’s there was a sporadic attempt to restart this work, this time in Manchester. But it was not until 1999 that the British-born John Pretlove, Chairman of the American Board of CPM, was to realise a dream. Together with the International President, Mitch Glaser, a British Board of Trustees was set up and in 2005 they appointed their first UK Director, Daniel Nessim, who provided much of the foundation of the work in the UK.
After sterling service Daniel relocated to Seattle and, in due course, the Board will appoint his replacement. While a replacement is being sought Mitch Glaser, CPM’s International President has been overseeing the work in the UK.
From these small beginnings has grown the outreach, social and educational work that is now based within the Jewish community of North London. Staff members are well placed to challenge anti-Semitism in the Britain of today; also, to act as advocates for the Jewish people, and especially for those who choose to follow Jesus.
Page 4
CHOSEN PEOPLE MINISTRIES (UK)
TRUSTEES' REPORT
OVERVIEW OF THE PAST YEAR
Introduction
Chosen People Ministries United Kingdom exist to pray for, evangelise, disciple and serve the Jewish people and help others do the same.
The above mission statement creates a two-pronged approach to the work of our mission in the UK and throughout the globe. We primarily focus on communicating the Gospel of Jesus Christ to the Jewish people. Secondly, we resource and train the Christian community to also minister to the Jewish community through prayer, evangelism, discipleship and service.
It is important to understand that Chosen People Ministries, United Kingdom is linked in a partnership agreement, so informal but side-by-side respective boards, of 20 countries. The work as is mostly accomplished through national workers in each individual country, governed by a national Board and globally orchestrated with the other countries included within what it’s called, the Chosen People Global Ministries.
The Work of CPM UK in Fiscal Year 2022-2023
New Staff, Feast Events, and Meetings in Person
In the North of England our two missionaries from Hong Kong have continued to develop and establish their work in Manchester and Leeds, developing relationships within the Jewish community. They take the opportunities presented by the Jewish Festivals to expand their door-to-door ministry and as result have made many new contacts.
The partnership with Tommy Fretwell and the Ezra Foundation has proved to be fruitful and we continue to sell his books. Hearing Tommy speak at our Annual Conference was a great blessing.
We hosted a conference “Finding Shalom in a Troubled World’ on the 17- 19th March. Speakers were Tommy Fretwell with Fiona Sorbala, Dr Brian Crawford (CPM USA) and our special guest’s Dr Michael Brown and Dr Darrell Bock. It was well attended with 150 attendees in London and Manchester. We also held a special dinner on the Friday evening.
Dr Mitch Glaser spoke at Bridge Lane Christian Fellowship, London in October at Halford House, Richmond in March.
The weekly online bible studies have continued to generate interest for our supporters with a loyal core of online attendees as well visitors who pop in when available.
The congregation continues to meet and hold in person services on Saturday mornings in North London as well as three other online meetings. The services are hybrid which allow people outside of London to attend and participate. A special Passover event was held this year. Fiona Sorbala and our volunteer Gerry Cohen are raising up the next generation of leaders for the congregation.
Fiona Sorbala has continued to work with the wider CPGM leading a women’s conference in Berlin and doing outreach in Riga, Latvia with CPM Finland and attended the German staff conference in Croatia.
Page 5
CHOSEN PEOPLE MINISTRIES (UK)
TRUSTEES' REPORT
Fiona Sorbala was appointed the Co-Director in October, to serve alongside Dr Mitch Glaser in leading the UK work of CPM (UK).
Fundraising & Communications
We are incredibly grateful to God for the ongoing faithfulness and generosity of our UK donors. This year we had a generous gift towards the new Messianic Centre in Tel Aviv, Israel.
Chosen People Ministries (UK) Trustees Activities
The CPM (UK) Board met on a regular basis in person and welcomed a new trustee to the Board, Kyuwon Park, in March. The staff is grateful for the guidance and support of all the Trustees.
Training
Following our policy of continually training new staff, we currently have two volunteers who work with our staff on a regular basis. We also have been training a minister from Malaysia who joined us as a volunteer on her six month Sabbatical to explore life and Jewish ministry here in the UK, with a view to potentially joining the London work if the Lord so leads.
Our London staff attended the 'Global Connections Passion for Mission' Event in May. It brought together agencies and mission-minded organisations to explore what the Lord is doing at this time.
Conclusion and Future Plans
We hope that a volunteer in the Messianic Congregation will do a Certificate in Jewish studies at Feinberg Centre for Messianic Jewish studies, as part of our strategy to raise up the next generation of leaders. We have also interviewed a further two potential missionaries from Hong Kong who are considering work in the UK.
We will continue to help Ukrainian refugees with their material and spiritual needs during the days ahead.
Our Chosen People Ministries (UK) Board will continue to meet in person three times per year to give guidance to the operational staff.
Financial review
The principal sources of funds for the charity are donations from individuals, trusts and partner organisations.
The main areas of expenditure during the year:
-
Remuneration of staff and their expenses incurred pursuing their charitable activities
-
Governance, administration and the communication with donors.
None of our Trustees receive remuneration from their work with the charity.
Page 6
CHOSEN PEOPLE MINISTRIES (UK)
TRUSTEES' REPORT
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Statement of Responsibilities
The Trustees (who are also the directors of Chosen People Ministries (UK) 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the Trustees of the charity on 28 October 2023 and signed on its behalf by:
......................................... Mr T Bath Chairman and trustee
Page 7
CHOSEN PEOPLE MINISTRIES (UK)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHOSEN PEOPLE MINISTRIES (UK)
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 June 2023 which are set out on pages 9 to 23.
Responsibilities and basis of report
As the charity’s Trustees of Chosen People Ministries (UK) (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 Chosen People Ministries (UK) 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 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Chosen People Ministries (UK) as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 accounts in 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.
...................................... G W Schulz ACMA Independent Examiners Ltd
28 October 2023
Page 8
CHOSEN PEOPLE MINISTRIES (UK)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 3 201,387 Other trading activities 4 5,497 Investment income 5 1,058 Total income 207,942 Expenditure on: Raising funds 6 27,459 Charitable activities 7 207,053 Total expenditure 234,512 Net (expenditure)/income (26,570) Transfers between funds 12,061 Net movement in funds (14,509) Reconciliation of funds Total funds brought forward 167,524 Total funds carried forward 14 153,015 |
Restricted funds £ 298,273 522 - 298,795 - 200,026 200,026 98,769 (12,061) 86,708 72,027 158,735 |
Total 2023 £ 499,660 6,019 1,058 506,737 27,459 407,079 434,538 72,199 - 72,199 239,551 311,750 |
Total 2022 £ 346,914 2,698 18 |
|---|---|---|---|
| 349,630 | |||
| 26,319 261,687 |
|||
| 288,006 | |||
| 61,624 - |
|||
| 61,624 177,927 |
|||
| 239,551 |
The notes on pages 12 to 23 form an integral part of these financial statements. Page 9
CHOSEN PEOPLE MINISTRIES (UK)
(REGISTRATION NUMBER: 04611406) BALANCE SHEET AS AT 30 JUNE 2023
| Note Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: Amounts falling due within one year 12 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 14 |
2023 £ 3,763 3,763 16,762 301,026 317,788 (9,801) 307,987 311,750 158,735 153,015 311,750 |
2022 £ - |
|---|---|---|
| - | ||
| 19,461 226,369 |
||
| 245,830 (6,279) |
||
| 239,551 | ||
| 239,551 | ||
| 72,027 167,524 |
||
| 239,551 |
For the financial year ending 30 June 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 9 to 23 were approved by the Trustees, and authorised for issue on 28 October 2023 and signed on their behalf by:
......................................... Mr T Bath Chairman and trustee
The notes on pages 12 to 23 form an integral part of these financial statements. Page 10
CHOSEN PEOPLE MINISTRIES (UK)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023
| Note Cash flows from operating activities Net cash income Adjustments to cash flows from non-cash items Depreciation 6 Investment income 5 Working capital adjustments Decrease/(increase) in debtors 11 Increase/(decrease) in creditors 12 Net cash flows from operating activities Cash flows from investing activities Interest receivable and similar income 5 Purchase of tangible fixed assets 10 Net cash flows from investing activities Net increase in cash and cash equivalents Cash and cash equivalents at 1 July Cash and cash equivalents at 30 June Reconciliation of net cash flow to movement in net funds Increase in cash Net funds at 1 July 2022 Net funds at 30 June 2023 |
2023 £ 72,199 1,882 (1,058) 73,023 2,699 3,522 79,244 1,058 (5,645) (4,587) 74,657 226,369 301,026 74,657 226,369 301,026 |
2022 £ 61,624 - (18) |
|---|---|---|
| 61,606 (861) (12,246) |
||
| 48,499 | ||
| 18 - |
||
| 18 | ||
| 48,517 177,852 |
||
| 226,369 | ||
| 48,517 177,852 |
||
| 226,369 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 12 to 23 form an integral part of these financial statements. Page 11
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
1 Charity status
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £5 towards the assets of the charity in the event of liquidation.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Chosen People Ministries (UK) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 12
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Gift aid
Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises 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.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £5,000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 13
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Buildings 3.33% straight line Building improvements 14.30% straight line Furniture and equipment 33.3% straight line
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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.
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees' discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 14
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
Pensions and other post retirement obligations
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
3 Income from donations and legacies
| Donations and legacies; Donations Gift aid reclaimed Grants, including capital grants; Government grants |
Unrestricted funds General £ 200,522 865 - 201,387 |
Restricted funds £ 292,284 5,989 - 298,273 |
Total 2023 £ 492,806 6,854 - 499,660 |
Total 2022 £ 328,188 16,969 1,757 |
|---|---|---|---|---|
| 346,914 |
4 Income from other trading activities
| Events income; Conferences and similar events Sales of literature |
Unrestricted funds General £ 2,270 3,227 5,497 |
Restricted funds £ 300 222 522 |
Total funds £ 2,570 3,449 6,019 |
Total 2022 £ - 2,698 |
|---|---|---|---|---|
| 2,698 |
Page 15
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
5 Investment income
----- Start of picture text -----
Unrestricted
funds Total Total
General 2023 2022
£ £ £
Interest receivable and similar income;
Interest receivable on bank deposits 1,058 1,058 18
----- End of picture text -----
6 Expenditure on raising funds
a) Costs of generating donations and legacies
Mailshots
| Unrestricted funds General £ 27,459 |
Total 2023 £ 27,459 |
Total 2022 £ 26,319 |
|---|---|---|
Page 16
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
7 Expenditure on charitable activities
| Note Administration costs Outreach and events Missionary support costs Travel and subsistence Rent, rates and insurance Light and heat Postage and telephone Equipment and maintenance IT service and software Printing and stationery Advertising Professional services Bank charges Miscellaneous expenses Governance costs Independent examination Depreciation, amortisation and other similar costs Staff costs 9 |
Unrestricted funds General £ 370 17,119 1,200 6,181 17,353 3,156 4,241 1,807 8,503 4,287 15,090 27,765 1,612 2,624 145 1,320 1,882 92,398 207,053 |
Restricted funds £ 161 17,806 106,935 11,421 - - 206 45 - - - - 30 40 - - - 63,382 200,026 |
Total 2023 £ 531 34,925 108,135 17,602 17,353 3,156 4,447 1,852 8,503 4,287 15,090 27,765 1,642 2,664 145 1,320 1,882 155,780 407,079 |
Total 2022 £ 402 26,498 7,230 11,081 16,976 1,659 5,513 1,091 6,355 3,255 12,536 23,209 1,718 2,073 289 1,290 - 140,512 |
|---|---|---|---|---|
| 261,687 |
Page 17
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
8 Trustees remuneration and expenses
No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No Trustees have received any reimbursed expenses or any other benefits from the charity during the year.
9 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2023 £ 142,403 9,263 4,114 155,780 |
2022 £ 128,112 8,816 3,584 |
|---|---|---|
| 140,512 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| follows: | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| No | No | |||
| Staff | 5 | 5 |
No employee received emoluments of more than £60,000 during the year.
Page 18
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
10 Tangible fixed assets
| Cost At 1 July 2022 Additions At 30 June 2023 Depreciation At 1 July 2022 Charge for the year At 30 June 2023 Net book value At 30 June 2023 At 30 June 2022 11 Debtors Prepayments Accrued income 12 Creditors: amounts falling due within one year Trade creditors Other creditors Accruals |
Furniture and equipment £ 16,220 5,645 |
Total £ 16,220 5,645 21,865 16,220 1,882 18,102 3,763 - 2022 £ 14,621 4,840 |
||
|---|---|---|---|---|
| 21,865 | ||||
| 16,220 1,882 |
||||
| 18,102 | ||||
| 3,763 | ||||
| - | ||||
| 2023 £ 15,468 1,294 16,762 2023 £ 8,341 140 1,320 9,801 |
||||
| 19,461 | ||||
| 2022 £ 4,959 - 1,320 |
||||
| 6,279 |
Page 19
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
13 Pension and other schemes
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to - £4,114 (2022 £3,584).
Contributions totalling £140 (2022 - £Nil) were payable to the scheme at the end of the year and are included in creditors.
14 Funds
| 14 Funds | |||||
|---|---|---|---|---|---|
| Current year Unrestricted funds General General Funds Designated Building fund Total unrestricted funds Restricted funds Israel fund Daniel Nessim fund Simon Lissak fund Barry Buirsky fund Beit Sar Shalom fund Fiona Sorbala fund Oliver Sims fund Ukraine fund Building fund Total funds |
Balance at 1 July 2022 £ 16,724 150,800 167,524 25 384 - 2 17,405 28,997 14,105 11,109 - 72,027 239,551 |
Incoming resources £ 207,942 - 207,942 100,590 7,042 18,792 276 26,721 32,151 11,973 500 100,750 298,795 506,737 |
Resources expended £ (234,512) - (234,512) (100,502) (6,433) (16,941) - (16,278) (42,061) (17,690) (121) - (200,026) (434,538) |
Transfers £ 12,861 (800) 12,061 (88) (694) (1,851) (28) (17,159) 8,611 (1,652) - 800 (12,061) - |
Balance at 30 June 2023 £ 3,015 150,000 |
| 153,015 | |||||
| 25 299 - 250 10,689 27,698 6,736 11,488 101,550 |
|||||
| 158,735 | |||||
| 311,750 |
The transfers from restricted funds are for administration charges.
Page 20
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
Designated funds
Building fund is designated by the board to facilitate a future property purchase.
Restricted funds
Israel fund was established by Chosen Peoples Ministries Global Partnership to support the work of missionaries in Israel. Donations into this fund are forwarded by this charity to this fund, after expenses managing this fund have been deducted.
The following funds represent the donations received by currently employed missionaries of this charity. The donations are used for the work of each individual missionary. The expenses incurred relate to travel, subsistence and other directly related expenses:
Fiona Sorbala fund
Simon Lissak fund
Oliver Sims fund
Donations received by former missionaries of this charity or missionaries who are employed by Chosen People Ministries Global Partnership. The donations are used for the work of each missionary. The expenses incurred are directly related expenses. Surplus funds collected on their behalf are remitted to each missionary on a regular basis:
Daniel Nessim fund
Barry Buirsky fund
Beit Sar Shalom fund represents the donations collected at meetings and other events and expenses incurred by a messianic congregation, led by one of our missionaries.
Page 21
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
| Prior year Unrestricted funds General General Funds Designated Building fund Total unrestricted funds Restricted funds Israel fund Daniel Nessim fund Simon Lissak fund Barry Buirsky fund Beit Sar Shalom fund Vladimir Pikman fund Fiona Sorbala fund Oliver Sims fund Ukraine fund Total funds |
Balance at 1 July 2021 £ - 119,320 119,320 25 316 682 330 27,472 10 17,367 12,405 - 58,607 177,927 |
Incoming resources £ 236,492 800 237,292 460 5,781 17,946 299 27,220 31 27,579 13,836 19,186 112,338 349,630 |
Resources expended £ (165,982) - (165,982) (391) (5,135) (48,038) (596) (20,004) (36) (28,817) (10,930) (8,077) (122,024) (288,006) |
Transfers £ (53,786) 30,680 (23,106) (69) (578) 29,410 (31) (17,283) (5) 12,868 (1,206) - 23,106 - |
Balance at 30 June 2022 £ 16,724 150,800 |
|---|---|---|---|---|---|
| 167,524 | |||||
| 25 384 - 2 17,405 - 28,997 14,105 11,109 |
|||||
| 72,027 | |||||
| 239,551 |
Page 22
CHOSEN PEOPLE MINISTRIES (UK)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
15 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ Designated £ 3,763 - 110,589 150,000 (9,801) - 104,551 150,000 Unrestricted funds General £ Designated £ 23,003 150,800 (6,279) - 16,724 150,800 |
Restricted funds £ - 57,199 - 57,199 Restricted funds £ 72,027 - 72,027 |
Total funds at 30 June 2023 £ 3,763 317,788 (9,801) |
|---|---|---|---|
| 311,750 | |||
| Total funds at 30 June 2022 £ 245,830 (6,279) |
|||
| 239,551 |
Page 23