Charfty r•gl$tr10Th ftumb•r 1101899 Company r•glBtr•llon numlw 04984515 {Engthnd •nd Wal•sl CFI CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
CFI CHARITABLE TRUST LEGAL AND ADMINISTrATIVE INFORMATION D Llnrll Ichaliman) D O'sulllvan J Holbrfr)k A BeIrwhhsrnlth (Appc4ntsd 20 Novemb•r 2023) Ghlof •x•culO J Vlnc• 8•cr•tary J Caladne Charlty numb•r 1101899 Company numb•r 04984516 R•gl8t•r•d offlc• Chontry Hou•0 22 Upperion Rolld Ea8ltrf)um• East Su$sex 8N21 1BF Ind•p•Thd•nt •Mmln•r Rxhd Taor FCA Acumy Profeilonal P•rln•rsh LLP Flfth Floor 11 Lè8denhdl Stroel London EC3V 1LP 8•nk•rn Uoyd8 8nk 104 Temilnu8 Road Easttrn0 Ea8t su1X 8N21 3AH
CFI CHARITABLE TRUST CONTENTS Twtse8' report st•t•rnont ofTwstso8' Twn81bllltt•8 Independent exomlnoVB report stat•m•nt of IlnAnd81 *ctlvlll•$ staiomwrt offlnandal po91 statemgnl of c•8h Ibw• N¢>t•8 to th• IlnAndal thm•nts 10-23
CFI CHARITABLE TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The TTU8lee8 prè8enl their annual rnp&t and finCial statements for the year ended 310•¢emb6r 2023. The financial statements have been prepared In a¢cardarKe wrth the accounfjng pollcles 88t out In note 1 to the financlal stslements and comply wth the Ch8rrts Memorandum and Art"¢les ofAs$o¢k4tion, the Companies Act 2006 and 'AOnting aThJ Reportkng by Charili88.' Statement of Re¢omm8nded Practice appllcable to ch8rltie8 eparing their accounts in Accordance wlth the Financial Rèportlng Standard applicable in the UK arml Ropublk of Ireland IFRS 1021 leffodve 1 Juary 20191.. ObJ•CtI¥ ond actl¥S110• The alms of the ch are to serve the Church, particvlarly vAlh ts8¢hing malenal, lo trA888 18ra81. Although spoclal emphgsl4 Is tyacod C the m8jorfty elhnlc group of Jwsh peop In Israd. a BFocific aim is also that of 4$ a roconcillng Influ•nco bets%wn Jews and ATabB and otrr mlnorfty groupA. A ffl•lor emph861$ of Chrfsllan Friends of l&rael 18 oducatlon81, that 19. th• proABton of accur up404ale Informallon on Israel and th• surroundtng reglon, edu¢allon on tha H•brai¢ heritage of Christianlty, ond the need lor posltlve Jwish.Chd$Jan relatbn8h. Thls l& carrled out by regular news letters and other prlnled m8t8rial, audlo CD8 and vld80 DVD9, le¢tuMs, the OTg8nlialion of •duon31 ¢tsnf•renS and prcffjollng Irth8m to 18rael at 8 ¥ludy level. By pro1 8 Ch181hryn per8pgcUv¢ on current events, the Tru•t end•8vour$ lo eneble Cmitloni lo pray for Israel and her people Inlelllgentty. A¢hl•v•m•nts •nd porformanc• Th• •due•llon of th•publlc concemlng th• County of l¥rn•l •nd Its cltlzen¥ Wth several Chrf$ll8n fe81ivalg delerred from prevlous ye8fS it w8$ good lo have a fv118chedul8 Ihls y••r, •omo In new locations, others attended for the Ilr$l Ilm¢. Wg 8dd•d lo our CFI UK re60urceB oddrtlonal rnaterfal to a8Sl$t In commuril40n th the wlder Church alence of our Ihreefoid obleds.. encouraging und8rstandlrrfJ, thallenglng preludic•. gnd 98slsllng cros8vcullurally. We also planned 9 parflamentary bdefing and lobby day but th18 was Inilally postponed ond later canclled duB lo the attack and ho8lag& tsklng In 8OUthem Israel on 7th October. rha of the poor, slck. handlcapped, •ged or othenws• n•edyp•opl• who olth•rllv• irt IsM•l or •rn 8o•king to •mlgr•te to that county conllnued lo hlghllghl cau8es in Ilne wllh th1$ e¢ll¥•, btrth through intsradve on15ne ge88bn8, and Ihrough varlous 8rticle8, attended a conf•r•r fr)cused on emlgrnllon lo Isra81 provkfkng resources lo wdtrpin thls woth. Our ie8lrf¢W lund gwing Incrèased parUcul8rty In the final quarter duo lo the attack on 7th October and118 knmedigt¢ aftermath. Alongside our regular rnstrictad ftjnds going lo th08• In nood in l$f8•1. our trustees allocated lund$ héld lor 'vthere most needed in l$rag1' to chaMII08 eperallng ¢rosKurturally prlm8rlly meetlng medlcol and 8oclal noed8. The advancenMnt of edu¢8tlon amongst Chrlstlans, Jews •nd the g•nornlpubllc of wh•t th• Blbh has to say about the hlstory olihe Jews In the land oltsra•l thmugh to ¢umt tlffles afftl Gods plans for them This year, we held tyjr annual autumn conlerence In-per50n thout Ilvetstream, bul later made avallable vldgo d audlo recordings. Our attendance In person increa88<J probatY as 8 re¥ull but also getting back closer to norrnal followiThJ the covhl yeors. One conference speaker was able to kytsvide new reports from Israd itsaw, nollng Ihls was Prkjr to the 7th Octob•r attac8. anolher Shared h8r story a¥ a holo¢au¥l survivor. A8 in prewous years we contributfjd to the planniThJ and partidpation In a range of regional Holo(3ust memorfal evonts, Including sth0013, libraries, churth and synagogue involvement plus notlon81 and local pc4itical r8presenWv8s. Mpwry events featured )loCaust suNlvor$ 8nd their descendants, tosumony. F4u5 music, art, and pctry contribjtlons. We eontknued lo idenfrfy and 8(Jv8rtlse various educalbn81 resources Ihr(NJgh our quarterfy ma3azine al vgnts.
CFI CHARITABLE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 rhg •dvan¢8ment ofthe Chrlsdan falth wlth partl¢ularreforfjnc• to Its teachlng aboul the Jewlsh p•ople Thls year we conclude distrtbuling our monthly Judalc Christian themed teachlng CDS whlch ar¥ now av¥il8ts4e online from thè provider. Wg conlinu¢d lo present many 181ks on thls theme some at Chrisuan exhibitions other5 at thurch or conftrrence ltIngs, wlth good feedb8ok. offer our quartedy m#gazine to both new and exlstlng r8ad8r5 which indud•s artKles and regubr features ol l$rael-rel4lfjd blbllcol exposttion, hebraic t8achsrva. Hebr word studie$ and informallon on needy causes. Cause$ relevant to our goals are promoted by reglonal, elwrch and prayer link& alonde the use (rf 1th9ital medi8. Encourayem•nt ondlnfonn•dpr4y•rlorlsrn•landits people We distribute a free monthly prayer letter written in Isra¢l which wo edll ond odd e UK perspoCtlv8, alongside weekly and fortnigY email upd$l88 of news and prayor Items. Our prayer •n¢ouragemenl coordinalor had some good opportunit188 to $P89k at outside feyonAI pray•r-th•med o)nf¢rence8. Ouf onllne prayer netrrk for older supporterg c¢nllnu¥d to work well and more rèctrnt w8ekly 98lh8rlng lo pray forthe oNJolng confllci In the roplon. Our resldentl81 w8y&r conference t¢ok plac• once moTe And wos w•ll atténd•d. On th18 orzaOn we heard from fleld W0er 8erylnq at CFI Jerusm. FlnancS•l fevlwi Incom• fecelved from r8gul8c giving was mostty In llnè our budget. 1h an In thoge gmng with glft ald. The chur¢h68 and trust glving was slightly r•duced. Incr8 reIved from legad•s exceeded that allowed for in our budget. Regular oulgolngs ware maintained undwcontrol, bul co318 518rted to dimb durlng th• ye•r. Comp•ilng lI¢ji works look place over the year wllh further work envlsaged in the comlng year. M8lllng ¢osts W8Te sllghuy abovvl budg81. The investment property given as a leg8Cy Wtll provide addMon81 Incom8 in th& year ahead. We 8150 80ught to place surplus and reserves In accounts with moro lavourabl& term8. Addltl¢nalty. toward tho end of the year w• placed a $um In Income producing bonds that 81Sgn wlh our purposo. A moro conventional salary Incro480 is agre8d lor the coming year, in Ilne vhth the Inflation r8ta. h¥ve 80ught to allow for other Incre8888 anlidpgled In colt ol m8t•rlg1B and s8rvbCeS Ihw in Iho MIng year. Publlc ben•fft The Tru8tees consld8r that th• activitJe8 det4lled abtrvè fulfil all the r•qulrement8 ol Chorfty CommlB81¢)ns publlc ben•fit dlsclo$ure ond Comply with th• Charity's objects Ros•rve• polky Th8 Tru8lees consider It piudont lo in¢roase sum Set asid8 In reseN•s 10 £200.000 r•pre8enllng approximately slx month's budg&led operatin9 expenditure on the g•neral fund. Ir pdicy remalns to dislrlbute reslricled Jnd8 In a lrnety but cosl.efflcient mannei, usually on a qvartèrfy cyc. W8 continue lo keep our flnancl81 resou&$ and oWigations under rewew, mindful of our Chrlstian, charitable ¥nd finandal obligatlons as good 5t8wards. Stru¢thr•. govwnanc• and fflin•g•mont The Chaflly is a company limited by gugrantee 8slabli5hed by Memorandum and Artid•s ofAssoeSal¢X dalad 3 Decemb•r 2003, registratlon number is 04984515. The Chority is also regi8t8red wf(h the Chgrlty Commlssion In EnglaThJ and Wdles, registration number 1101899. Further inlomiatiJn ¥uch 8$ the blTneSS and raglstored office addrnsses, and detsils of professlonal advlsors can be found c4) the informatlon page.
CFI CHARITABLE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 T1 Truste•$. who ar8 also tha director8 for Ihe pwposfj of company law, vtho 88rved durfn9 th8 yo8T were: D Greor D Llnnoll (chalan) D O'sullivan J Holbrook A Bèrkin8hwSmith (Retired 20 Novamber 20231 (Apwnted 20 Nov8mber 20231 The Tru8tae8 se•k lo appoinl addlUon81 Tru8t•O8 VI)8¥0r necary fr)llng recoMM8nd8tio trcffl exlsllng Trustees or the thiof executive. A potènllal Trustee would be invited to 8ttend Trust888' mg•lings as ob8emr for a l&w m•8llng$, bofore any darAslon Is tsken uJnceming Ihelr ongolw Involvement a8 a Trustse. Polentlal Tru8le•6 are provlded with all the relevant 9uid•s from the Ch8rity Comml$slon b•for¢ any appolntmenl. Non8 of th8 Trustoes havo any ben•fidal Inlwest In th¥ eompany. Al of the TruBtoe8 are membwl of the comp4ny and guerantee to contrttryjte £1 In th• •wnt cf a wSThJlng up. The day-trdaY work oftht Trust is over$agn by Ihe chlof exgwtiv• and support 61aff who gre acu)unt8ble lo th• Board of TTustae6. T1 Tru8lee8 meet regularfy and arè responsible for Dverall directlcm of th• Chadty, fof maior fnanclal de¢i&ons. The chlef 8x8¢ullv& Is assisted in hls work by the 8enloT 8taff. The Charlty 18 In l•lbwBhlp vlth othw branches of Chrl8tion Frf8nd8 of Igrael throughoul the worfd 8nd P8rtlculady with th• co-ordlnatlr& office In JenJa818m, Israel. The CFI Charflabl• Trust li however Independent of the other branche• and the ctrordinatlng Dffkg In Ms financ•8, gov•Inan aTra management. Rl¥k Managem•rl Thè Tru$l¢es have ass88gad thè major risks to vthlch the Charlty 16 expos•d, in p8rtlcular th088 lated to th• oporalbons and finances ol tha Charity, and are satlsfled that the 8yStems gnd pcllcles in place ar8 adequaté to gat• the Charity's axp)8ur• to th• major risks. Tho Trust8es' T•port w*s 8pproved by Ihe Board ofTru6t8. D Llnn•ll Ichalmianl Tru8tee Dat•d'. 2D May 2024
CFI CHARITABLE TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trusteos. who are al80 the dlrector5 of CFI Ch8rtt8blo Trust for the PUfPO88 ol company law. are rssFon6ible for preparlng the Trustees. Report and the flnancAal slalemonts In 8CeOTdance th applICae1•W and Unlted Kingdom Aceountlng srandards IUnf(ed langdom G&nerallyA¢¢epted Accountthg Pr8cli¢el. Comp8ny Law requires the Trustees to Pfepgre financial $18lement8 for eacl) fin#ndal yw whlch a tru• and falr vlew ol the 3ts1e ol affairs of the Charity and of the incoming rOurCeS and applicgllon of resources. indudlng the Income and exp•nditure, of ltre chgrilalAB company l(K that year. In pTeparlng th880 flnancl818tatwent8. Ihè Tru8t9¢8 aro requiT¢d to.. - 8818Ct 8Lltsbl& accounllng pJlld•s and apply them ¢cffjsi8tenUy, - Ob¢ the method8 and ylnclpl88 kn tho Ch¥rttie$ SORP., - mako judgements and 88MateS that •ro r•gsonable and prudant,. Btate whethar APF4icablo UK AntIng StAndard8 hAv8 bew followed, 8ubjoct lo any mat•rfAI dep•rtur8 dl8doged and &xtAained In the flnandal $tst•m•nts; and - Fwèparo tho financlal Jla1om8nlB on lh• golng ¢orwn ba8[$ un1•85 tt lo Inqpproprlote to pr•sumB thal Ihe Charoty wlll oontlnug In operatkn. The Tru$le8¥ are responslble for keeping adequate 8ceountlng records that dlsclo88 th rea8•blo •r%urecy at any ilme the fin8n¢l81 positlon Df the Charity and enable Ihem lo ensure that the finan¢io1 staternerts comply ¥%th Ihe Companies Act 2008. Th•y 8re also responsible lor safegu8fdlng the a$sots ol the Ch8rfty and herrK lor laklng reasonable steps for thè pr•v•ntion and d&tectlon of fraud and other Irregul¥rsties.
CFI CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CFI CHARITABLE TRUST I report to the Trust$ on my •xamin8tion of the financial 81alements of CFI charitab Trust Ith8 Chafityl for th year ended 31 December 2023. RMpon¥lbllltlM and ba81s of Mport As the Tnjslees of tho Charity {and 8180 rt$ dIrtorS for the purposes of company lawl you are responsible lor thé preparati of IIE financia statements In 8ccordBrKè wlth Ihe requirements of the Companies Act 20C6 Ilhe 2006 Havlng sa118fied my$ell that thg Ilnanclal 8tatem8nts of the Charity are not reqred to be aud11 under Part 16 01 Ihe 2006 Acl 8nd are eliglble for independent examination. I report in rospe¢t of my examlngllcA) of th& Charity's narKlal slaloments Carried oul under section 145 of the Charillos Acl 2011 {th0 2011 Acll, In Catyng out my •xaminatKin I hav• feJlow•d all the •pICabl9 Dlr8Ctlons glvan by Ih8 Chorlty Comml8sion und•r soctlon 1451Sllbl oflha 2011 A(#. Indepandènt •xamln•r'• •t•tsm•nt Since the Charity's gross income excathd £250,or)O your •xamln•r MU b• 8 rnember ol a body li81od In 88dSon 145 01 Ihe 2011 Act. I rmfirm that l am quallfled to undèrtake the examlnalh)n because l am a rnembtr ol The InBtllule of CharteredAccountanl$ In Englanil 18, whl¢h Is one of the listed bodle$. I havo complèted my examinallon. l ¢onflmi that no mattors have ¢e to rny attenuon In connectlon vhth th• ex4mlnallon glving mè cause lo believe that in ony malerf81 re¥pecl'. •ccounllng r8coTd8 w•r8 not k•pl In 188Frtt ofthe Charfty a• r8qulrnd by $8ction 388 of th• 20C¢ Act; or the financlal 8tatementB do not accord th those r8cord8', or the ffinand818tat•mèn18 do not comply wilh the accounting requ1ments of Sectlon 398 91 Ihg 20C6 A¢t ottter than any roqLlr8mgnl that th& accounts glve a truè and falr vlgw whKh Is not g maiter conildgrod as port of an Independent examination,. or the fin•na81 $lulemènls have not bo•n prepgr•d In accord8nca with Ihe meth¢xl8 and PTirKies of the Statement of Recommended Practlce for accountlrvJ and repothn9 by chgfle6 apF4k8ble to charllb68 pr8pgrfng thelr a¢counts in acGordance wlth the Flnandal Roportlng Stsndard appllc*Jlo In lh• UK 8TrJ R•publle of Ir•19nd IFRS 1021. I have no concem8 And have come a¢ro8s fK¢ other matters In connectSon vAth the gx4mln8tlon lo whlch ottenlion Should be drown In Ihl6 report In order lo enabl8 a proper und8rstanding of tha flnandal statements lo be rearhed. Raeh•l Taylor FCA Aculty Prolo88ionAI Partnership LLP Fifth Fb 11 L•od&nho11 Street L¢ndon EC3V 1LP Dato¢J'. 26.07.2024
CFI CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unro#trf¢t•d R•otrld•d fund 2D23 Totsl Unmtrl¢tgd RostrlGt•d fund• fund$ 2022 2022 Total 2023 2023 2022 N¢)ts• Income from: Donollons and legade8 Charftoble acti15 Invejtrnents 345.45e 36,217 4,015 146,141 9.469 491,597 45,686 4,015 503.474 32.294 235 111,858 10,436 815,130 42,730 235 Totsl Incom• 385,688 155,810 541,298 536,003 122,092 658.095 Exp•ndltur• on: Chwitable #d111•* 387,e64 151,249 538,913 340,233 132,996 473,231 Not galn$ on investments 12 60 118 N•t Incom•l(oxp•ndltuff•l 11,918) 4,361 2,445 195,886 (10.906) 184,9BO Tron6f•r8 fund$ 20 {9.794 9,7 M•t moY•m•nt In fund8 1.9161 4,361 2,445 188,092 11,1121 184.980 Rocon¢lll•tlon olfund•: Fund bglance8 at 1 JanuAry 2023 840,207 840.207 854,115 1,112 855.227 Fund b•lancM at 31 D•c•mb•r 2023 838,291 4,361 842.662 840,207 840.207 The 8tat•m8nt vffingnclal acN¥lU88 include8 all ga end1088e8 r•cognls•d In year. All Irwme and expenthtu derlve from wnllnuing activltTre8.
CFI CHARITABLE TRUST STATEMENT OF FINANCIAL POSITION ASAT31 DECEAIBER 2023 2023 2022 Not Flx•d a88et• Propety. plont and equlpment Investrnent properleg Investrnent8 13 14 15 110,897 200,000 130,440 115,137 5,120 441.337 120,257 Currnrbt u••t• knv8nlles Trade and 0th8r Te¢olvab Cash at bank and In Mnd 10 17 4,703 33.883 383,419 4,822 240.627 483,482 421,805 728.931 Current Iloblllu other payae8 20,490 8.981 Not rrent as18 401,315 719,950 Total M•t IM¥ ¢urr•nt Ilablllti 842.852 840.207 In¢om• fund• R8sthcted fund8 20 4,361 Dognated fund•'. Rttervo fvnd Managemant fund D8valopm•nt lurrfj BuSldlng and 8ecurMy fLThI 200.000 100.000 100,O)0 19.170 200,000 100,000 100,000 16.919 21 418.170 419.121 416,919 423,288 Genord urn8lNcted fiJnd8 838,291 840,207 842,652 840.207
CFI CHARITABLE TRUST STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2023 The corryjany 18 entitl•d to the 8x•mption from the audlt requlfement claIn8d in $8ction 477 of the CL¥mleS Act 20C6. for the year end9d 31 De¢8mb8r 2023. The dkedoTS 8d(nowl8dge thetT r&spon81blllUes for complylng th the requlr•ments of Iha Compan& Act 2006 th re¥p8cI to accounting reci)rd8 and the preparnkn of flnancla 8t&temgnt8. The member8 havo not required th6 CA)mpany to r*taln an audlt of tt8 financl81 statemgn18 for the year In quests.on In accwd8ncè vAih IOCtk 478, Theso flnanclal st#t8ments have boen Fryared in Accordance wtth prOvIon appllcable lo companle8 8u¥or to h Small cornp•n188 r•glfflg. Tho Iln•nd#l stat•m•nt8 W•ft Apprmd by Iho T888 on 20 Moy 2024 D Llnnell Ichalmianl J Holbrook Truit•• Comp•ny R•gl8tr•tlorb No. 04984516
CFI CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Not•¥ Cash Ilow• Irom operatlng actlvftl Cash warated frrynllabwrbgd by) opernlK 221.182 194,743) Invesn9 actlvltl•• PurthaBe of property. pl4nt and equlpment Purch88e of Inv8gtrnent Wovdty Purthase olother 1ThstMents Proc4ed8 dlsposal of other IrNestm•nlJ Inveutmenl incom• rec•lv•d 11.2391 1200.CIXII 1128.7521 3,492 4.015 15291 236 Mot c•8h ld In Inv•¥tlng •ctMtI 1321,2461 {1,5331 Not d•cr•a•• In cmh •nd ¢•Bh •qulv•l•nt• 1100.0831 196.2781 Cosh and cash equfvalents at beglnnlrvj ofy•gr 483.482 579.7S8 Ca•h •nd ca•h •qulv•l•nt• •nd of y•ir 383,419 483.482
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcl•s Company Infomiatlon CFI Charitsble Trust Is J pr6vale Djmpany Ilmrtèd by guarnnlee In¢oryJoTalod in Erglar and Wal88. The r8gSstered offlcolg Chantry House, 22 Upperton Road, Easlboume. East gJ680x, BN21 18F. 1.1 ACcoUnn9 conv•ntlon Thtr flnand81 slaloments have been prepared In accordan¢e wth Charfly'$ Momorandum and Artlcles of A8sociabon. the Companies Act 2006 8nd 'AccounUng and Reportino by Charilles.. Slalemertt of Re¢ornrnended Pracuce applicable lo ch8rille$ preparlng theif ac¢ounts In 8¢cord8n¢8 wilh th• Financl81 Reportlng Stsndard applicable in the UK and Republic of Irert IFRS 1021 {¥ffeclive 1 January 20191" Thg Charfty is a Publlc Bengflt Enlily as d8fined by FRS 102. Thè flnondal statements ar• PPed In 8¢orllng, %thlch 18 th• (uncoonal currency of the Charlty. Mon•l8ry omolnts in the88 finar11 8tal8m&nts are rourKlèd to tha n•41t £. Tho ffinan¢lAI stgtsment8 have b•n propared und•r the hlslorical co•1 ¢orwentlon. The prlndpal accounting palld88 adoptsd gre Dot out boltyw. 1.2 Golng conc•rn At the Ilme ol appiovlng the financial 518lemenls, the Trustees have a reasonable expectallon that Chgrity has 8¢Jgquale r¢sources to ConnUe In operational oxlslen¢¥ for the loraseeable future. Thu8 the TrusleeB conllnue lo adopt thè golnG conGem ba$1$ of #ccountlng In preportng the finan¢l•l 818mont6. 1.3 Charltsbl• lund• UnrestriGtèd fund8 avalljble for at th• dloryetlon of the In ftwtheran¢8 of Imlr chorltabl• obledives. RestrSct8d fund$ are monles recelved for swcffic PLffPO8•1 laid down by the donor. ExpenOitw• knthich meets the5& re8trfcted funds crlleri8 18 charged to the fund. 1A Income Income 18 recognl¥ed vknen the Ch8rlty is legally entitled lo rt after ony perfomanc• condillons hava been mot, th8 Amounts can mSUred reliably. and11 Is prthblg th81 InMe wlll b8 rgceW. C8th donallonB arè r8cognl8eE1 on receipt. Other donatlons are re¢ogni8ed onc8 the Charlty h98 been not{fd of the donauon, unless perfomiance condltlons r•quire deferral of th¢ amount. Income lax recov¢rabl8 In relatlon to donallon$ received under Grft or deeds of covenant 18 Includod In Ihe thJn8tlon to whlch It ralates to and l¥ r¢¢ognised at Ilme of the donation. Income from ch8rkable xtivlll8s 18 recognlsed when the rf6kB and rwards hgva been transferred tr) the purth?¥gr of serceS Cf products. It18 Stated net ofVAT, rf any. Legacies 8re re¢ognlsed on reeelpt or otherlse Ilthe Chty h8$ been notthed of an Impandlng d161diwtlon, the 8mounl ig known, and recolpt is expected. 10-
CFI CHARITA8LE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 AontIng pollcles IConllnu•dl 1.5 Exp•ndltur• All expendlture Is acc4)unled for Bn 8ccruals basi8 and ha$ been Included under èxpensè e8tegorl8S that agggate all costs for 8llocaUM to 8clivilies. Whgr8 costs cannot b& dlreclly attributed to parttrJJlar actlvlties they have been allocalod on a baals eon8lstenl with th& us& of Ihe resources. charit0& $1$ are allocalad befvmen th& calegorfes of dlrect ¢harft&blo expendSlure and support cosls, suth as admlnlstratton, In accordan&8 wlh the n91urg of the ¢0818. Govemance CO&t8 are those Incurred in the overbll g0veMan ofthè charfty ath1 comF4iAne• vjllh constilullon81 #nd 8tatutory r•qulrem8nt8. No arno1$ InclLxIBd for 8èrvlce8 provtd8d by volun18. 1A Proporty. plint Ind oqulpm•nt Property, plant and equiprnenl are Inltlally measuTe(l at C081 and wb8oquent5y m•a8ur8d al cost or vduglic4), nat ol depfg¢iatlon and any impairment ID8898. Dèpr•clallon IB Tecognlsed $0 os to wrlte off the ¢081 or valuauon of 488•t$ I•theIr resldual values over Ihelr useful lives on the folloYAng ba$iB'. Land bulldlng8 Fixiuro8, frttfngB and equlprnent 2% straht Iln• on lIttIng$ 25% on a stralghl Ilne bB¥iS Fre8hofd l•nd l• rbot depr•clated. The galn or 10$9 arising on the diBPDs81 01 8n asset Is determlned aB th8 d1fferen botmmn th• £ale proceed$ and the carying value ol the asset. and 1$ r&wgnl8ed In the 918temenl of financ481 adivf(ies. FlxadA88•t addillon8 bolow £250 are not caFltalised. 1.7 Inv•Btm•nt propÈrtl¢• Invgllmont property, ¥thlch 18 propèrty held to eam Tentalg andlor for capll81 8ppr8clalion, 13 Inlllally recogn16ed at COBt. vthlch Includ tho purchasè rLsyt and any dir•ctly gttrfbu18ble expenditure. Subwuenly 11 18 measured at falr valu• at tho reportlng erKI d8te. The 8urplu8 or delkm on revaluatlon 19 recowlsad In or10s3. 1.8 NoTrcurr•nt InY••tm•nts FIKed 888et Investments are In181 me88ured èt Ifansadon price gx¢ludlng traneacllon costs. and are subsequenuy measured at falr valu9 ¥1 ct¥th reporting dale. Changes In foir valu• ara recogni8ed in nèt incomellexpenditurel for the year. Trgn8gcYon ¢¢818 are expensed as incurred. 1.9 lrnpalrnient of non<ufftnt assets At pach reling end date, the Charlty revlews the carrying aMOt$ of h8 tsnglble asBe18 to dBtermlne wheth8T th8ie is any indlcation that thosts a58et6 have suffered an Impalrment loss. N any Such indrallon ex19ts. the recoverable amount of ass•l18 51imat¢d in order to delermlng tho extgnt of the Impaimient 1089 Irf any). 1.10 Invontorf Stock8 of woduct ar• valu•d 8t cost le8B provision for slow movlng and ob$ol•tt itoms. 1.11 Ca•h and cih •qulval•ntJ C88h and cash equlval¥nls Includ• cash in hand, deposits h8ld 8t call wtth bank$, other short-teim liquid invastmen18 With original maturities of three months or less, and bank overdrafts. Bank ovèrdrafts arè shown within borr0vg5 in WTenl liabrtIeS.
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollGle• Icontlnuedl 1.12 Flnanclal In8trum•nts Tho Ch8rlty has elected to apply Ihe proVIon8 of Sedlon 11 'Basic Flmncial Instruments. and Sectlon 12 'Olher Flnancl?I Instrum19155u0, of FRS 102 to all of rt8 finandal In8trumenl$. FinancAal in8truments are regni9•d In the Ch8rfty$ balanca $h¢gt th8 Charmy ts)me5 party to th8 cDnlr8ctual wovi8ions of the Instrument. Financlal &8se15 8nd Ilabi1111ts3 8re offset, wlth the nèl amounts pr&$$nl8d In the financlal statsmnl$. when there is 8 18981ty enlorceable rlght to 6et off the recoynised amounts 8nd Ihore 18 an intention to setue on nel b8818 or lo r¢8lise the asset and Bdde thg liabllhy 8lmulton8oLboIy. Baslc flnan¢lal assets Ba$1¢ financial assots, whlch Indude trade and other receivabl¢$ and cash and bank balances, aro InM8lly meg8ur8d •t transacbon PTI¢8 Includlng transaction costs and are 8ub8equenUy earrled 81 amortlsed Cost using th• •ffèctive inleresl method unless the 8rrangem•nt constitutes a finanryng transactlon. Whe the Iransaclon 1$ measured at Ihe presenl valuo ol the future recolpts dls¢ounted at 8 market rato ol httsrest. Fln¥n¢ial assgt8 cla88ffied 98 recelvoWe wilhKI ono yaar are not amorf8•d. a•slc )In•nckl Il•bllltl•s Bas1¢ financlal liabllllle8, Indudlng Iradtr and othèr payables and bank loans are Initially re91$ed 81 Iransaclion pri¢& unless the 8irangem•nl constitute$ a finJndng transadon. where tha debt In$¢iument Is measured al Ihe present value ol the future p8ymen18 dl¥¢ounled al a market r•t• of Inlerejt. Flnonclal li4billties cla88ified •$ pey8 Wihln ono year arg not amth88d. Debt instrLwn8nts are $u•nI1Y cBrriod gt 8mortlB•d cost, uslng the effedva Interest r•te meth&J. Tr8d& payables arè obllg8tion8 lo pay for goods or Sgrvlces that have been gcquired in th& ordlnary course of op&r8tion8 from suppliers. Amounts p8yabl¢ are clas$lfied as current 118blllll8s ff payment Is du¥ within ong year or less. If not, they are presented as non.curr•nt Ilabilllies. Trad& payables are recogn1d InStlally at transaction pric• and subsequently measured al arnortlsed cost using the effectlve Interest rnelhod. Der•cognllion olfln•ncl•l Ilabillu Financial liabilits•$ oro derewnised when the Charity'g contractual obligallons OXFire or ore d18charged or CalIad. 1.13 Employm b•nts The ¢osl of any unused holld•y •nllllwnent 18 racognlsed in the 1)d kn whith lh• ernploy¥¢'$ 8ervi¢8s arè received. Temlnatlon beneflts 8re recognls8d Imrnedlably as an exp•nse when the Charfty Is demnstratAy commthd to lermlnate the employment of an eM0Ye8 or to provide tsmiln8tion benefit8. 1.14 Retlromènt b•neflt¥ From 1 Janu8ry 2016 the Charity sel a penslon scheme for all employees with Natu)al Employmènt Sawngs TNSI INEST)- Contrlbutlws payable ar* chargèd In the Gentral fund in the yearthey are pay90. 1.16 Taxatlr>n In the onIon of the Trust¥8s. th& Charity IB not sublecl to Unrted Kingdom corporation tsx on Its income. The charity 15 registered for VAT and accjunts for VAT w Its standard ral$d supplie8. Irtecover¥bl• VAT. Ir any, is included In the cost of the expense it relates lo and is charged as a cost when incurred. 12-
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Critlcal •¢counllng •stlmatss •nd ludg¢ments In Ihe application ol th• Chatity's accounting polici88, the Trustees are requlred lo m8k¢ ludgernents. e5MleS A1 assumptlons about tha carylng amount of as¥st$ artrj liabilllies that a n¢t readlly apparènt from other sourc85. The estfjmgt•s end assocAated assump18 are based on hlstorical eyperlenca and oth factors that ore Conera lo bo rd•vant. Actual resuhs may drffer froryt Ih&se astlm8tes. The 8slmat•s and und•rfyinu H$8umption8 ar8 rovi•wed on an ong01ry ba618. Revlslons to 8ccounlng eslimatgs gre reccpjnlsed the ptriod In vthich the estimate 1$ TevI3ed where the rewBion affects ClY that peiw)d, or in the perfod of tha raviOn and ftrture pertods vthwe the r•vl8knn £ffects bolh cuffgnt fuiuro perlods. Funds G•n•r•l Fund 1unrnitrlctl Th18 overs•o8 the day lo day operation8 of Ihe Chorfty. D•slgnat•d Fwnd• Ruservo fund Thls r8pra5enl$ fvnd8 Put asld• 88 a geneTal reserve in Kcordgnc• wlth b&81 practi. Where Most Neod1 Gen•r•l Thls fund represents spec¢fic glft$ glv•n to th• Charity lo ba used by th8 TtUgt•e$ •1 th•lr dlscr•tion lor Bpeclfi¢ needy are88 of the ganeral fund. Sums glvtn to th• Ch•rfty to be dlsburs•d wh•r• neetsd or Iransfefred to Ihe Genaral Fund to cover 0ratirj $t8. Chang• Mn•g•m•nt lund Th18 lund reprèstrnli mmey 8•1 a8kl• from lego¢I•s to prowde resources lo covar th¢ ¢osts oflulur• ¢hgngg8, D•velopmen¢ lund Th1$ fLmd rep8ntS money 8el aslde from ad•8 lo provide r•sourc08 to dwetop our wob1610COmm¥rc•l datab88è and for sc¢i81 med18 expanslon. Bulldlng and S•curlty luftd Th18 lund pra•ntS mcfjey 8et ailae for an upgrodo lo Iho pr•ml6•8 and seurrity. Rostrlct•d Funds Soclal•nd Hum•nnarlan fund This lund irKorporate8 monles lor $odal and humanltarSan causK malnty In Iwagl but 0160 Sn othw port8 of tt)e world. 11 Is made up of.. CFI Jerusalem IA parAt0 charlty. or amuta, in18r8811. Non-CFI Jerusalem (VArtOU8 pmlects Indudlng Wh•r• most nooded in 18ra811. Conferences and Tours Th1$ fund encornp855es the varfous prayer and •ducational conferen$ of CFI and tOLXS lo l$ra•l and 1$ regarde(l a$ restricted. Offerings taken at th8 eonferenc85 are utili5ed to cover th8 COSt& At the dretIon of the Trusle•s surplusldefityt can te Cove by a tran$hr lorfrorn the Genoral fd. 13-
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 InGom• frnm don•tlon• and l•ycl Unr••trlcted R•strlcted fuDd• fund8 2023 2023 Total Unre•trtct•d Re•irlct•d fund• funds 2022 2022 Total 2023 2022 Donations and glfts L•gacAe4 rec•ivable 288,818 76,638 148,141 414.9S9 76,838 234.237 269,237 111,85e 345,893 269,237 345,456 146,141 491,597 503.474 111,658 815.130 CharltAbl• •ctlvltl•s 2023 2022 Cour888. corrfor•nt%$ and tour8 Producl Ja1•8 and l•e8 Chothble rentAI Income 10.438 32,294 35,117 1.100 45.688 42.730 An•lyJfjB by fund Unrestrlct&J fund8 R•Btrfctod furKI• 36,217 9.469 32.294 10.438 45,688 42.730 Incom? from In¥••tffl•nts Unmtrlct•d UnrMlrfct•d fund• fund¥ 2023 2022 InlorB6t recelvabl• 4,015 235 14-
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ch•ritable actl¥ltlo8 2023 20 Stsff co Product costs ladlusted fc¢ 8tockl Conleren¢e8 and tours Prknlin9. POSt8g• and 8181tonery Communicallon and conlrlbutors Ethcation and promotknal events Advoca Tralnlng, meèungs Ind ho8pttg1ty 222,448 21,430 14,847 41,886 7,958 13.848 1,450 1.202 193,578 17,955 15.646 40,139 9,978 13,277 3,234 539 324.867 294.346 rantfundlng of •thNleB Ise8 note 81 138,802 117.352 Shgr• of •upport cots (Me noto 91 sTe of gov•manc o)818 Iw note 91 53,7(k8 23.738 43,414 18,119 538.913 473,231 Anity•h by fvnd Unrethcted lundB Re8trlcled furKI• 387,064 151,249 340,233 132,998 538.913 473,231 Gr•nt¥ p•yabl• 2023 2022 Grants to lThslltutlon¥: CFI J8ru8alem Pr$ Man-CFI Prol8d8 Other 112,681 23,791 130 90,634 26,088 630 136.602 117.352 15-
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 8upport co•ts illoc•ted to •ctlvlt59¥ Charltsbl• •ct5vli 2023 Tot•1 2022 Dapreci•Jc Pr8mls8s costs oifice arKI north e88t offK•) Offico equipment, Bofthrg and conwm8ble8 rr and consultants TT8v81 and accommod•tton 8cell8n80U8 4,240 30,724 6,029 7,651 4.230 832 23.738 8,150 18.077 5.340 8,982 5,773 1,112 18.119 77,444 81,533 2023 2022 Gov•rn•nc• Ct• COrnPTI••: A(xounl•ncy feèl Indewndenl examlnation f••• Bank and finance ¢h•rg 808rd expen Le9al fees 12,150 1,312 5,496 1,294 3,486 10,712 1,225 4,938 1,248 23,738 18,119 10 Tru•t• No reMUnernOn 18 p8ld lo the Trustees. Re•Kfflable trnl, 8ccomm¢)dthn and e>pen6•8 wer• relrnbur8ed of £1,29412022.. £1,248). 11 Empwo•• Thè averag& monlhly number ol fvll p4rt m emF4oytts durfng tha y•#r was". 2013 Numb•r 2022 Numb•r Direct chgrftable Admlnistrallon Totsl 10 18-
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Enwloy••A IConllnu•d Employment co*t• 2023 2022 Wages and 18¢arle8 Sodal 8•curlty co8t8 othor pen8lon 205,697 11.188 5,563 178.793 9.928 4,857 222,448 193.578 Thore w2rn nts •M0yee¥ tho•e annuol r•muner•tlon mora than £80.WO. R•fflun•r•Uon of k•y m•nag•m•nt p•v•onn•l The i¢munorath of kay rnanogement pw8onnel {IrKludlrrd empbyerf8 nBllonal In8urnnc• and non ¢ortributton8118 A8 follows. 2023 2022 Aggr•J•ts CompanOfi 48,191 44,855 12 Not galn•l{lo•M•l on Inv••tm•nts Unrn•trlct•d Unr•strlct•d fvnd• fund• 2023 2022 18rael Bond accru•d Intorn•t 80 118 17-
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Propgrty, plant and •qulpmtnt L*nd and Flthr88. bulldlry I1ttln and •qulpm•nt Totsl Co•t At l January 2023 191.407 19,408 210,81 S Al 31 Dec•rnber 2023 191,407 19.408 210,815 D•pr•clatlon and Iffi1• At 1 January 2023 Dewa¢kOn charg•d In year 78,124 3,300 17.554 95,878 4.240 Al 31 DeGomb•r 2023 81,424 18,494 99,918 C•rrylng •monI At 31 Drntr 2023 109,983 914 110,897 At 31 O•C•mr 2022 113.283 1.854 116.137 14 Inv••tm•rt prop•rty 2023 Falr valu• At l January 2023 AddItn8 through legacy at probatè Wa8 200,000 At 31 Oe¢ember 2023 200.000 Investment propo Charlly who 1$ a, compd8e8 39 Mount Gould Road, Plymouth, Devon PL4 7PT. Th• chlel ox•¢utive of th harte1 Surveyor considers Ihi$ to b• a value. 15 Flx•d •¥i•t Investments IJro91 Bond• Coot orvaluatlo At 1 J8nuwy 2023 Addllons Intere818ccru8d Dl8po¥gLs 5,120 128.752 60 13,492) At 31 Oecembor 2023 130,440 Carrylng amount At 31 Oecembar 2023 130.440 At 31 Decwnb•r 2022 5,120 18-
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Flx•d uget lThv•gtments IConllnu•d) 16 Inv•ntorl•• 2023 2022 Proauds for ule 4,703 4,822 Stock r•prg8•Ats books, laudki) CO8 Bnd Ivld601 DVDS arKI oth•r related prodwtj. 17 Trad• •nd oth•r r•G•fvabl 2023 202Z Amount• f•lllng wlthln on• ymr: Trnde rec•lvabkn8 Legfiaes du• VAT And GIftAld rKov•rable Pr•paym8ntB and accrued Incom• 2,115 219,000 14,173 5,339 22,580 11,103 33.683 240,627 18 oth•r cr•dltorn falllnq du• wlthln ono ymr 2023 2022 Trad• payable8 A¢uu•l8 and deferre¢l inc<¥n• 4,699 15.591 2,189 e.792 20.490 8.981 19 R8llr•ment offt •ch¢mo• D1n• contrlbutlon $chom•# The ch*rge to $tstefflent of flnanclll actlvtde8 In respect of definad contributk)n Schem wos £5,58312022- £4,857). No Conlrbulbns were out8tandlro a1 du• to the penslon ffiJnd at the ènd of Ihé year {2022- £nill. 19-
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 R••trlctsd fvnd Th& resM¢tsd funds of the charity com$ the fftexp8nd8d b818nc06 of dc4Wtion8 ¥KI grants hold on twst Sub to spedfic ¢ondrtiOll8 by donor8 88 to how Ihgy may be usad. Incoml r••ourc At 1 January 2023 R•8ouv¢•• •xpendod Trnn•f•rs At31 D•c•mb•r 2023 Sodal 8nd Humanltkn Fund Conf¥renc88 and Tour8 136,802 19.008 1136.802) {14,8471 4.361 155,610 1161,249) 4,381 Provlou• y••r: At l January lficomlng RMoyrc•• 2022 r••ovre•g •xp•nd Tr*n8f•rn At31 D•c•mb•r 2022 S¢)d•l and Humanttarl•n Fund Corrf•forKo8 Tovr8 111,858 10,438 1117.362) (16,646) 5,8 4,098 1,112 122.092 (132,988) 9.794 The bolance on th• Conference and Tows fvnd al tho end of 2023 IB lo b• c8rrbed fryward to Off ¢osth In 2024. -20-
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DEGEMBER 2023 22 Analy•hb irf net b•In Unrnstrlct•d R¢•irteted funds Totsl Unrestrlcted Restrict•d & Designated fund8 funds Totsl D1gnatod fund• 2023 2023 2023 2022 2022 2022 Fund bo1grKo8 are rnPT8venlad by.. Propeffji, pkqnt orKI equlpm•nl Investment prop•rtl Investments Currènt atOI?lI11101I 110,897 200,000 130,440 396,754 110,897 200.0 130,440 401,315 115,137 115.137 0.120 719,950 5,120 719,950 4.581 838,091 4.681 842,862 840,207 840,207 23 Op•rntlng l•au ¢ommltm•nts At th• rep¢Jting end dale thè Chgrity had oul$t8n(Jlng mmItment& lor fulur• mlnlmurn 880 p•yment8 undor nOn-n¢918b1• operallng lea$o8, which lall dua 08 follows.. 2023 2022 Wlhln ong year 8ets¥•en and fv• y?grq 3,000 750 3,000 3.750 3.750 8,750 24 R•latsd party tr•n••ctlon• rr•n8actlon• T•Ath rnlat•d p•rtl•8 During the ar the Ch8rity entered Into tho following transadons wtth re18ted partk.' A¢¢ountn¢y $•rvke8 2023 2022 Other related p8rlles 12,150 10,712 12,150 10,712 Th• Charity •rvJ8ged Caladlne Ltd to provide accoundng support to tho Trugts•s. Cal8¢Jlne Ltd18 a eempw conlrollod by John Caladlne, who Serves the Ch8rity as Comp8ny Se¢reiw. Delall$ of paid to Caladine Lid are shown in tho table abtsve.
CFI CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 24 Relatod party trnnuctlon8 IContlnu•d) Thts total arnounl of donalon$ vAthout condillws rN•d from th• Truste durin9 th8 yo¥ was £4,840 12022.. £2.9401. 26 Cash g•n•ratsd frorn op•ratloM 2023 2022 Suwus for th• yow 184.980 Adlu8tmenl• for.. Intment income TOgnISd In 8t8t•m•nt offfinanclal 8G11M•S Fgir Val galn8 and1088e8 on inve81ment8 Depredotiw and impalmi•rt of prowrty, pLqnt •nd •quSpnent 14,016) 80) 4.240 12351 11161 6,150 Mov6monts In worklng Pital. De¢re88elllncrta8•1 In Inv•nlorf•s Decreg89lllncre480) In trade and othw fecefv4ble6 1nrr•a8trlldeofi9ol In trade and othor payables 119 206.944 11,509 1306} 1211,1001 174,1161 Cuh g•n•rniod fromll•b•ort)•d tyl op•r•tlon¥ 221,182 (94,743) Anly•lJ of ¢hang•J In n•t lund• The Charlty had no malorl•l debt durkng th• yoar, 27 Momborn lthbllttl CFI Charltable Truet Is a company IlmKed by guarantstr and ha8 no •hare cap8[. Undef the terns d th• memorandum of 88socl815on ev•ry membor is Ilable lo contribute a sum nol excee(ng £1 In the event of the company belng wound up dudng Ihe ilrn¢ he or she is a member or cffle year Ihereafter. Al 31 December 2023 th8r• V•we 4 mambers (2022.. 4 momb8rsl. -23-