REGISTERED COThteANY NUMBER: 05874811 (Ing12lld and Wales) REGISTERED CHARITY NUMBER: 1117490 Report ofthe TSt and Audited Financial Statements for the Ended 30th June 2024 for Creation Ministries IThternationg1 (UIQEurope) Ltd Sheeo Sticklaud Chartered Accountants ststOry Auditors 7 East Pallant Chichester West S$seX P019 ITR
Creation Mimisthes International (UIQEurope) Ltd Coutents of the FAn3ncial Statements for the Year Ellded 31)tb June 2024 Page Report of the Trustees I to 5 Report of tELe Independent AudAtors Statement of Fin*nci21 Activities Balanc¢ Stleet io Cash Flow Ststement li Notes to the Cash Flow Statement 12 Notes to tbe Fiuanelal StstemeDts 13 to 19 Detailed Statement of Finintial Activities 20 to 21
Creation Ministries Xntern2tional
(UKIEurope) Ltd
Report of the Thistees
for the Year Ended 30th June 2024
The trusttts who are also directors of the CRlty for the puSeS of the Con¥anies Act 2006> preseiit tbeir report with
the financial statements of the chatity for the year ended 30tb June 2024. The IetS have adopted the provisiolls of
Accounting and Reporting by cEities. Statement of Recommeuded Praaice applicable to c]Jarities pr¢paTin
Creation Ministries Illternational (UIUEurope) Ltd Report of the Trnstees for the Year Ended 30th June 2&24 Cbaritsble gctivities STAFF UPDATE We cuThently have seven stsff on the pay roll: 3 fjll time & 4 part till (34aWweek). Two staff left us during this 5nan¢iai year: A fi]11 tijue speaker (October) and our General MaJag¢r (March). We took on a Finance Manager in MaTch (2 daYweek) but our Ghfs other duties have been divided up between our admitttive staff person (who is working extra days each month), the CEO. and a staff TrTiterlsp¢aker. This bas meant the latter two have much less tiro¢ for Vlting articles than Previously. In addition to three etnployees who get involved in speaking events, we have two associate speakers (one in Englan(L one in Northern Ireland). A non-salaried web a&sistant woris fronl bome and several voluntary staff faIthfiY represent Cmt at events aTound the Country. ADMKN & FANCE Cmt bcnefitcd from two legacies this finaJLcial year totalling £2,000. Sales of £114k are 8.354)/o lower than last year, largely due to lower book sales of £IOL Theie was a lack of new books from wtthin the mioisty this year. Lmport5 of books froJ3J the USA continue to be by sea freigbt in order to reduce our Costs. DonatioDS, excluding legacies, have decr¢ased by 8.020/c. Donation5 lor the social media project were £5,400. These have been held on balance for tbe new fiscal ye and Thill be transferred to our sister organisation CMt-Au5tralia 0st stsff are thiving the project. IIIAGAZINES & MAIL SHOTS Creation magazin& Our subscription rdte bas dropped by about 50/0 sligbtly compared to the previous year, now at about 2,500 (and just 26,500 globally). Digital subscriptions (either print-pIusJigÈtal or digitai-only) make up about 300/0 of the wholc. Journal of Creation. This bas been digital only since April 2020, subscriptions levelled off to about 400 subscribers for a year or so, but this bas de¢lined in tbe Last y¢aT and now stands at only 300 subscribers. It has dropped steadily in all Cmt offices. global subs stand at 2,030. In spite of the continuing bigb quality of articles and grapbic d&sigTk in both publications, an Ineasing oumber of people PTefer online resouT¢es. ir4¢1uding CMI'S social media ltell. Infobytes. E-mail higbjights of our iecent web content (plus some ¢lassi¢ articles &lld special off¢rs on resources) are still sent fortThigbtly. helping to bring in orders and new CStor0erS. E-mail shots promoting webinars- successful in ¢onne¢ting with people of many Dations. PUBLIC EVENTS WbiLe priuted magazine and journals are in l¢ss demaod, tb¢re is no sbortage of invitations from churches wishing to bost a CMI speaker. The increas¢ in the r¢quests from countries in mainland Europe, noted ill last year's repor¢ h&s continued. Breakdown by counlrylregion: We were involved in a totsl of I I l events. 94 live spe&lang events: England (46), Scoilalld (4), Wales (8), Northern Ireland (9). Republic of Lreland (4), Switzerland (4), Italy (2), PolatLd (3}, Germany (4), HLuLgary (5). GTeece (5).7 exknThition oi voluateer eveats (totallitig 4 weeks). 12 online speaking events. CMI speakers spoke at the lolloiYiJJg events (SOLnetimes pairing up at events): Lucien Tuinstra (48), Philip Bell (44), Gavio Cox (15), Andrew Sil)ley (8). Pbilip Robinson (8).Guest speakers: Rod Walsh from Australia (i). Type of events: As well as churcbes.. university Students (Hungary, l). youth camps (2), youth groups (3. one in Hungary), a Bible college (l). Online webinars and webcasts: We ratL I I webinan (CMI + 3 guest speakers), averaging 130 conu¢ctions and a Saturday webcast with four speakers (Noventher), >IOO connections. Radio Interviews: There were two iLlterwiews wltb a Christian prograu]me on Talk Radio Europe whicb streams to English-spcaking people across Spairk and two on Life FM in Cork. Creation mGazine. 17 articl¢s'. Lu¢ien Tuinstra (5 + 4 Focus items), Gavin Cox (5). AJ]drew Sibley (4). Philip Bell {3 + 2 Focus items). Journal of Creation. 7 articles: Lucieu Tuinstra (2), Andrew Sibley (2), Gavin Cox (2), Philip Bell (l). Page 2
Creation Ministries International (trKIEurope) Ltd Report of the Trustees for the Year Ended 30th June 2024 creation.com website. 51 articles in totsl: Andrew Sibley (19). Luciell Tuin5trn (10 + I co-authored Pbil Robinsou), Philip Bell (10), Gavill Cox (6). Pllll RobiDson (3), Ton)myFietwell (l), other (l). Newsletters: Frotn May, th¢ Prayer Nev and Update (both quarterly) were replaced with Cr¢ation Extra (now 8 timesty¢ar). crtion Extra is still sent 0With Creation azille. Books. From the Horse's Mouth (a compendium (Jf quotstions about origills). Philip Bell began writing this in early July and it is close to 90f/lo complete. The Jurassic Coast of Ellgxan Andrew Sil)ley is finalising the last round of edits. FINANcL REw Principal fundxng SOUTces Regarding our General Fund unsolicited donations are still our principal source of clwitable illcome. secondarily, the profits from the sale of literatUTe. Our aim l)as always bccn to fimd staff Sa]leS tbrougb the donations and this has been et yoaT on year. In p&8t years, any surplus bas been mad¢ availablc to support our itin¢raut speaking ministy in the UK and overseas. Financial position Totsl ill¢onK for the year anwunted to £353,298 (2023: £539.245), all of which w&$ unrcstri¢ted. Total expendibJt¢ for the year was £360,633 (2023: £399,245), all of wbich was unrestricted. Total fimds at 30th June 2024 were £445,878 (2023: £453,213), all of vthtchweTe unrestricted. Reserves policy Reserves are held at a sufficient level to meet three month's payroll costs of the charity at any one time. Reserve thds of the charity are held in separate deposit a¢¢ounts. It is not the policy of the clwity to invest donors, rnoney in bigh-risk funds. FUTURE PLANS Conferences. Our next major cotsference is scheduled for 20-21 September 2024, in Leeds. Foreign Trips. Ministy events are already scheduled for.. FRANCE (7 ¢hurcbes in Britiany, October), FINLAND (5 churcb events in Turbj and HelsiJki, November). NEW ZEALAND (& major conference and a cbuTch in Auckland, January), SIVZERLAND & GERJAANY (March). HUNGARY (April), and PORTUGAL (Juneljuly). Weblnars. From Septemb¢r, we will corttitiue tbssc on a bxmonthly b&sig. Staff appointmellts. W¢ wish to find another full-time 5peak¢rIVIter to jolts the te If possibl¢, also Someone to fulfil and ll-tIMe admin role with managerial responsibilities. STRUCTURE, GOVERNANCE AND MATrIAGEMEf4T Governing docujnent The cllarity is controlled by its governing docunJenL a deed of trus¢ and nStituteS a limited copanY, limited by guarantee, as defined by the Companies Act 2006. Recruitment and appointment of new trustees There e six trustees and the aim has been for the tnakerup of these people to reflect a diversity of skills and experience. specifically (though not exclsIVelY) as this relates to the work of a Christiann]inisty organisation. Currently, ttvo of the trustees work for Creation ministy orgauisations overseas (one in Canada witb a background in electronics and sitellite systems" the other in Australia who was formerly a professional botanist). ttvo have a strong fancIal backgtound. one Nvas an rr data-base expert alld one is all rr professional. All are cotnnitted ¢vangelic21 Christians who aee wboleheartedly the StatemeDt of Faith and aims of the charity. Futtwe peTsoDnel will be recruited accordingly, taking into aGcoullt any perceived lack in the 0Up,$ pooled experience". ideally. persons wRth a proven pedigree of commitmerAt to our ministy anLVor comtDend¢d to the Boar Page 3
Creation m]ntstri International (tIlQEnrope) Ltd Report of the ThCeS for the Year Ended 30th Julle 2024 STRUCTttRE, GOVERIYANCE AND MANAGEMENT Lnduction and traAnillg of neiv trustees Trustees are Anducted forn]ally by the Board and D)ade familiar with the guidelines of the ChaTities Commission for trStee$ - both lawful requirements and the n¢ed to act in the best interests of Creation MiDiStries Illternational. They are encouraged to find out about the requirement of charities to d¢monstrate public bell¢fi¢ nEng money (wh¢re llec¢ssary)' the supervlsion and roanagement of stsff and volunteers, h¢aith alld saf¢ty amd equal opportimities" the mallagemellt of resources and equipn)ent belonging to the ¢barity. Those vtho have no prior experienc¢ &8 a tnt¢e are made aware of their liabilities and encouraged to look illto the possil)le risks associated with belug a charity trustee. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05874811 (England and Wales) Registered Charity number 1117490 Registered office 15 Station Street Wbetstone LeicestershiJe LE8 6JS Trustees Dr D Batten A Beber (appoint 19.3.24) R Fangrad M J Foster (resigned 23.5.24) D R Gradon D R Moore-crispin (resigned 16.1.24) G Thomas (appointed 12.7.24) Company Secretary PBB¢ll SeJ)Jor Statutory Auditor Paul Wright FCA DChA Auditors Sh¢¢n Stickland charted Accountallts Stabjtory Auditors 7 East Pallaut Chichester West Sussex P019 ITR STATEMENT OF TRUSTEES, RESPONSIBILITJES TILe tTr]st¢¢s (who &re also the directors of Creatiou MiDistries International (uKvroPe) Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and Unitsd Kin8dom Accounting Standards Iullited Kingdom Generally Acc¢pted Accouatino Practi¢e). Page 4
Creation Ministries International (UKtEurope) Ltd Report of the Trustees for tbe Year Ended 30th June 2024 STATEMENT OF TRUSTEES, RESPONSIBILrnES- continued Company law requiffs tbe trustees to prepare fin3ncial statements for each ful2la1 year give a tNe and fair eW of the state of affairs of th¢ Cbarffitable compaoy and of tbe incoruing resources aud application of resources. includÈng th¢ income aDd expenditure. of the charitable company for that perio(L Ill pTepaTifAg those financial statenllts, the iTUStees are r¢quired to select suitable accounting policies and then apply them consistently, observe the methods and principles in the Cbarsty SORP. make judgements and estimates that are reasonable and pruden¢ prepare th¢ financial ststemeJts on the going Concern basis unless it is inappropriate to presume tbat the clwitable company will continu¢ in business. The trustees are responsil)le for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the cbarttable company and to eD2ble them to e[lle tbat the financial ststeEnents coTrply witb the Companies Act 2006. They are also responsible for safegUardg the assets of the charitabl¢ Company and hence for takyJ]s reasonable steps for the prevention and detection of fraud and other irregularittes. In so as the trustees are aware: tbere is no relevant audit inforroalioll of which the chlble ¢on]panYs audito are unaware. and tbe trustees have tak¢n all steps that they ought to have tsken to make themselv¢s aware of any Televant audit inforniation aTJd to establisb that the auditors ate awdre of that inforn]auoL AUDTTORS The auditors, Sheen Sticklanl will be proposed for re-appointroeut at the fortbcotning Annual General Meeting. This report bas been preped in accordanc¢ with the spexial provisions of Part 15 of tbe Companies Act 2006 relating to sm211 companies. -)%ii Ne¢<,2* Approved by order of the board of ttustees on .... . . and signed on its behalf by. P B Bell - SeGTetary P2ge 5
Report of the Independent Auditors to the Members of Creation Ministries International (iJIQEDrope) Ltd Opioio We have audited the fill¢121 statements of CTeation miniseS Ijjternational (UKtEurope) Ltd (th¢ 'cPLarRtabl¢ company? for the year ende4130th June 2024 whicb cotnprise the Statement of Financial Activities, the BaloJ3ce Sheet, the Cash Flow Ststement and notes to the financÉal statements. including a sumnw of signthcant accounting policies. The finaucial r¢porting framewoTk that has been applied in their preparation is applicable Iaw aud United Kin(vdorn A¢¢ounting Standar(ts (United Kingdom Generdlly Accepted Asxounting Pra¢tic¢). In our opinion th¢ financial statenThts: give a tN¢ and fair view of the state of the ¢table colDpanS affairs As at 30th June 2024 and of its incon)3ng resources and application of resources, iDcludÈng its income and expenditure, for th¢ year then ended" have been propttly prepared in accordance with UDited Kingdom Gellernlly Accepted Accounting Practice. and ave been pr¢par¢d ill accordance with the requirem¢nts of the ConwaDies Act 2006. Basis for opinion We conducted our audit in accordaace wÉth InternatiorLal St8nd2rds on Auditing (UK) USA5 (UK)) 2nd applicable law. Our responsibilities under those standards are filltber described in the Auditors, rcsponsibilities for the audit of the fmaucial staternellts section of our report. We are itidepeodent of the cIltable Company ID ac¢ordauce with the ethical requirenkents that are relevant to our audit of the fmancial stateLDeDts in the UK inclvdiog the FRC'S Ethical Standard, and we have fulfilled our other ethical Tesponsibilities in accordance witb these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opiJ)io Conclusions relatiug to going Concern In auditing tbe financial statemellts, we have concluded tbat tbe trustees, use of the going concern basis of accouoting in the preparation of the financial statements is appropriate. Based oll tbe work we bav¢ perform&1, w¢ have not identified any material uD¢ertsinties relating to events or conditlons tha¢ individually or colle¢tively* O]ay c&st significant doubt on the charitable companys ability to continue as a going ¢onc¢rn for a perxod of at leagt twelve months froni when tbe financial stat¢llnts are authorised for issue. Our responsibilAties and the responsibilities of the trustees with respect to goitig concern are described in the relevant sections of this report. Other inform2tioll The trustees ar¢ T¢sponsible for the other infornRtion. Th¢ other information fA)wises tbe infom]ation included in the Annual R¢port, other tban the fumnoial statements and our Report of the Independent Auditors thereon. Our opinion on th¢ finark¢ial stat¢rnents do¢s not Cover thc other xoforn)alion #nd, except to tbe extent otherwise explicitly stated in our report, we do not express any forni of assuFanoe conclwion thereo In CODnection with our audit of tbe financial statements, our respousibility is to Tead tbe other infornjation and, in doiJg so, consider whether the other infornjation is materially inconsistent WAth the financial statements or our lojowledge obtained in the audit or otherwise appears to be n)aterially misstateiL If we ideutify such material inconsistencies or app&r¢nt material misstatements, we are required to detenlline NvhetheT this gives rise to a matetkal rnisstatement in the f¢1&] statements themselves. If, b&sed on the work we have perfoTmed, we conclude tbat there is a material isstatement of this other illf0rntiO w¢ are required to report that fart. We have nothiag to report ill tbis regard. Opinions on other m2tters prescribed by the Companies Act 2006 In our opinion, based on the Work vndertaken in the course of th¢ audit: the infortnation given in the Report of the TTUStees for tbe financial year for which the financial statements are prepared is consistent with the fiaancial statetnents. and tbe Report of tILe Trust¢¢s has been prepared iti accordance witb applicable legal requirements. Page 6
Report of the Independent Auditors to the Metnbers of Creation Ministnes Intern2tion21 (iriuEllrope} Ltd Matters on which we are required to report by exception In the light of the knowledge 2nd Understanding of the charit2bIe company and its ellviroiLiyient obtained in the ¢OUTse of the audit, we have not identified mat¢riai misstat¢ments in th¢ Report of the Tn)ste£s. We have nothing to report in respect of the followi-ng matters ere the Coo]panies Act 2006 requires Ds to report to you if, in our opinion: adequate accounting r¢coriL8 have not be¢D k¢pt or r¢turns adequate for our audit bave llot been received from brdo¢hes Dot visited by us. or the fUA¢la1 ststemeJJts ar¢ not in agreement with the accounting TecA)rds and returns; or certain disclosures of trustees, reLlluaeration specified by law are not nllde" or we bave not e1V¢d the inf0mtion and explanations we require for our audit: or the trustees were not entitled to take advantage of the small compaoies exemption from the req]reMellt to prepare a Strategic Report OI in preparing the Report of the Trustees. Responsibilities of trustees As explained more fillly in the Ststement of Tntst¢es' RespoDsibilities, the IneeS (who are also the diTectors of the charitable company for the putposes of company law) ar¢ reSpOlbIe for the preparation of the fUn¢121 statements alld for being satisfied that tbey give a trne and fair vi¢w, and for such interrLal control as tbe Inistees detrmine is necessary to enable the prepardtion of finall¢iai statemellts that are fr¢¢ from material misst&tsm¢nL vthether due to fraud or error. In preparing tbe fll]ancial statenllts. the tThte¢S a r¢sponsilJle for asse&siDg the ckwitable CoMpanS ability to ¢ontiuue as a going Conce disclosin& as applicable, matteTS related to going concern and using tbe going concern basis of accounting unless the tDJStees either intend to liquidatr the cbaritable company or to tease operations, or have o realistic alternativ¢ but to do so. Our responsibiJAties for the audit of the finallci21 statements Our objectives are to obtain reasonable assurance about wbetber tbe financial ststemeDts as a wbole are free from ateriaL misstatemen( llloetber due to fraud or eryor, and to issue a Report of the Independent AuditOTS that includes QUT opinion. Reasonable assllrance is a level of assurnce, but is not a guarantee tbat ao audit conducted in acwrdance th ISAS (UK) will always detect a materÈal misstatement when it ¢xists. Misstaternents can arise from fraud or error and are considered material if, illdividually or in the aggregaie, tbey could reasonably be expected to infiuence the ¢conomic decisions of users taken oo the basis of these fmancial stat¢roents. The extent to whicb ow procedures are capable of detecting itregLknities. including fraud is detsiled below: ¢oquiry of margeMent, those cbarged with governance and the entitys soliGitOTS around acttul and potential litigatioD and ¢laims' enquiry of entitys staff to identify any instances of non4ompliance with laws aDd regLdations' reviewing minutes of meetintrs of those charged with governance. reviewing fancial statement disclosures and testing to supporting documentation to assess cowliance Thith applicable laws aud regulations. and auditing the risk of management ovride of controls ill¢ludillg tOUgh testing journal entries and other adjusknents for appropTiat¢ness, and evaluating tbe business rationale of significant transactions outside the nornul course of busiDess. A fi]rth¢r description of our responsibilities for the audit of the financAai staternents is located on the Finantial ReportiDg Council's website at www.fr¢.org.uklauditorsresponsibilities. This description forn)s part of OUT Report of the Independent Auditors. Page 7
Report of the IDdependent AudAtors to the Members of Creation Ministries Illtern2tional (UIUEnrope) Ltd Use of ollr report This report is made solely to tbe ChItable COD)pauYs members. as a boty, in accordance with Chapter 3 of Part 16 of the Corupatiies Act 2006. Our audit woik Iw been undertsken so that we might state to the ¢]ltable CoMpanS menthers those malters we required to stste to tb¢m in an auditOTS' report and for no other puryjse. To the fullest extent permitt¢d by law, we do not accept or assume iesponsil)ility to anyone oth¢r tban the cbaritable c05llpauy and th¢ charitsb an3ls members &8 a body, for our audit wort for this repoTL or foT the opinioDS we have fonn¢d. Paul Wrig FCA DCkLb& (Senior ststory Auditor) for and on belkalf of Sheen Stickland Chartered Accountants Statutory Auditors 7 East Pallant Chicbes West Sussex P019 ITR Date: ...i.I,i.ij4,........................... Page 8
Creation Ministiies International (U]UEurope) Ltd Statement of FfingncKal ActKvAtfies (Incorporating an Incotne and ExpendAture AccouDt) for the Year Ended 30tJA Jwie 2024 2024 Totsl fijnds 2023 Total funds UTrttstrictl Restricted fi]nd Notes INCOME AND ENDOWMENfs FROM Donations and leCleS 229.015 229,015 402,789 Charitable activities Prornotio sale and distributton of religio literature 113.658 113,658 131,921 Investment income Otber income 9,375 1,250 9,375 1,250 4.535 Total 353298 353298 539,245 EXPENDITURE ON Raising fimds 9,430 9,430 7,773 Charitable 2ttivÉties Promotio sale and d£stribution of religious Literature 351,203 351,203 391,472 Tot2] 360,633 360,633 399,245 NET tNCOMEI(EXPENDITURE) (7,335) (7,335) 140,000 RECONCILIATION OF FUNDS Totsl funds brought forward 453213 453,213 313,213 TOTAL FUNDS CARIUED FORWARD 445,878 44S,878 453,213 The notes fonn p&rt of these f)cial statenients Page 9
Creation Ministries Interllational (UKIEurope) Ltd (Wstered number: 05874811) Balance Sheet 30th Julle 2024 2024 Totsl fjmds 2023 Total fjjllds Notes FIXED ASSETS Tangile assets 12 3,489 3.489 8,689 CURRENT ASSETS Stocks Debtors Casb at bank and in hand 13 14 84,247 13,071 366,320 84,247 13,071 366,320 77,104 6,428 369.185 463,638 463,638 452,717 CREDITORS Amounts falling due within one year 15 (21,249) (21,249) (8,193) NET CURREIYT ASSETS 442.389 442,389 444,524 TOTAL ASSETS LESS CURRENT LL4BILITIES 445,878 445,878 453213 NET ASSETS 445,878 445,878 453.213 16 Unrestrxcted fijuds 445.878 453213 TOTAL FUNDS 445.878 453,213 These fall¢la1 statem¢nts have been prepared in accordaoce with the provisions applicable to ¢haritable companies subject to the small companies regie. The flnancial stat¢m¢nts were approved by tbe Board of TteeS and authorised for iss i &L .Iq.a v.TA a 142.¥and were siglled on its bebalf by: on D R Gradon - Trustee The notes fortn part of these financial statements Page 10
Creation Mllllistn International {UKr0Pe) Ltd Cash Flow Statement for the Year Ended 30th June 2024 2024 2023 Not Cash nows from operatAll(V activities Cash genet2ted from operations tntcrest paid (7,549) (5.480) 145,642 (7,845) Net ca8h (us¢d in)/provided by operating activities {13,029) 137,797 Casb flows investing activities Pureh&8e of taogible fixed assets Sale of tangible fixed assets Interest received (461) 1250 9,375 (6.039) 4,535 Net c&sh provided bY1(ed irL) investing activities 10,164 (1,504) CknaDge cash and tash equivalents in the reportiug period Cash and casll equivalents at the begiDDing ol the reporting period (2,865) 136,293 369.185 232,892 Cash and cash equivalents at the end of the reporting period 366,320 369,185 The notes forn] part of these fu1claI st*m¢ats Pagell
Creatioll MinistrAes International (l[KrOpe) Ltd Notes to the Cash Mow Statement for the Year Ended 30th June 2024 RECONCILIATION OF NET (EXPENDrruRE)IiYCOME TO NET CASH FLOW FRO OPERATllYG ACTIVtrIES 2024 2023 Net (expenditUre)rCOrne for the reporting period (&s per the Statement of Financial Aetivities) Adjustnjents for: Depreciation charges Profit on disposal of fixed assets InteTest received Interest paid Increase iti stocks (Increase)Id¢crease in debtors InCTcase1(deeaS¢j ill creditors (7,335) 140,000 5,661 (1,250) (9,375) 5,480 (7.143) (6,643) 13,056 5,930 (4,535) 7,845 (4,262) 2,282 (1,618) Net easb (used in)Iprovided by operations (7,549) l45,642 ANALYSIS OF CHANGES IN NET FUNDS At 1.7.23 Cash flow At 30.6.24 Net cash Cash at bank and in hand 369,185 (2,865) 366,320 369,185 (2,865) 366,320 Tot21 369,185 (2,865) 366,320 The notes form part of thes¢ fllwicial statements Pae 12
Creation MiDistries Intern2tion21 {uIrPe) Ltd Notes to tht Financial Statements for the Year Ended 30th June 2024 ACCOTJNTtNG POLICIES Basis of prep2fiDg the financial statements The fjnallcial statements of the chaTitable company, l¢b is a public benefit elltity uThdei FRS 102, have been prepared in acwrdan¢e with th¢ Ch2rities SORTr (FRS 102) 'Acwunting and Reporting by Clwities: Ststernent of Recommended Pradice applicAble to charities preparing their acwullts in accordance with the Financial Reporting Standatd applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, FÉnancAal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland, and the CompaNes Act 2006. The finallcial statements have been prepaTed under tbe historical cost convention. Income All incotlle is recognised in the Siatement of Financial A1vitieS once the charity bas entitIen]eut to the fimds, it is probable that the iDcom¢ will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as ¢Kpendittwe as soon there is a legal or constructive obl££ation corrmitting th¢ charity to tbat expenditure, it is probable that a traDsf¢T of econoLnic benefits will be required in settl¢ment and the amoullt of the obligation can be measured reliably. Expenditsre is a¢¢ounted for on an accruals basis aud has been Classrfied under headings tbat aggregate all cost related to the eategory. WheT¢ costs caonot be direelly attributed to particular bea(lings they have been allocated to aetivities on a b&sis consistent WAth tbe e of resources. Governance eosts Governance costs comprise the Costs of governance arrangements Ythieb relate to the general rullDing of the Charity. Allocation and apportiollment of costs Wh¢re costs ¢at]oot be d[rtlY atrributed to particular headings they bave been allOted to activities on a basis consistent with the use of resowcL's. TangAble fjxed gssets D¢preciatiou is provided at the fcTrllowing annual rates ITJ order to Ivrite off eacb asset over its estimated use1 life. Fixtures and fittings Motor vehicles Computer equipment 25Q/¥) on cost 200/0 on cost 250/0 on cost Assets with eith an initial cost exceeding £200 or a useful economic life exceeding three years are eapitaLised. Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowaAee for obsolete and slow moving itetlls. Taxation The charity is exempt fron] corporation tax on its clwitsble activities. Fund accountin Unrestricted funds call be used in a¢cordance with the ch2ritable objectives at the discretion of tkne trnstees. Restricted fidS can only be used for particular restricted pu0$¢8 within tbe obJts of the cbar_ty. Restrirtions arise when spe¢ifi¢d by the donor or when funds are raised for particular restrtcted purposes. Further explanation of the naLe and purpose of tach fia is included in the notes to the fanCIal ststernents. Page 13 continued...
Creation Ministries International (TjKVrOpe} Ltd Notes to the Financial Statements- continued for the Year Ended 30th June 2024 AcCOUNG POLICIES- continued Foreign turrencies A&sets and IthbilÉties in foreign currencies are translated into sterbng at the rates of exchange nIng at tbe balance sheet date. TransactioLs in foreiga currenci&% are traosi&ted into sterling at the rate of exchange rnling at the date of transactioL Excbange differences are taken into account in artiving at the operating resulL Pension costs and other post-retirement benefits The charitable company operates a defined ¢ontnlltioll pension scheme. Contnlutions payable to the clwitable companys pension scheme are charged to the Statement of Fillanciai Activities in the period to which they relate. DONATIONS AND LEGAs 2024 2023 Donations Legacies 227,015 2,000 246,806 155,983 229.015 402,789 llYVESTMENT INCOME 2024 2023 Deposit accouttt interest 9,375 4,535 INCOME FROM CHARITABLE AcfiviTIES Activity ProraOtio sale and distribution of religious literattwe Promotio sale and distribution of religious litevature 2024 2023 Sales 113,658 124,014 Conference fees 7,907 113,658 131,921 OTHER JNCOME 2024 2023 GaTn on sale of tangible fixed assets 1,250 Page 14 cori.tinued...
Creation Ministries International (uKUrOpe) Ltd Notes to the Financial StatemeJJts - tODtinued for the Year Ended 30th June 2024 RAISING FufqDS Raisillg donations and legacies 2024 2023 Van expenses DepTeciation 3,769 5,661 1.844 5,929 9,430 7,773 CHARITABLE ACtTVITtES COSTS Support costs (see note 8) Dir&t Costs Totals Promotio sale and distnBution of religious literature 348,503 2,700 351,203 sirppoRT COSTS Governance Costs Promotion. sale and distribution of religious literature 2,700 NET INCom(ExPENDITuRE) Net in¢orne/(expenditure) is stated after ¢harw/(creditiog): 2024 2023 Auditors, remuneration Depreciation - owned assets Surplus on disposal of fixed assets 2,300 5,660 (1,250) 2,200 5,930 io. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 30th June 2024 nor for the ye& ended 30th June 2023. Page 15 Continued...
Cre2tion Minithès International (uKrOpe) Ltd Notes to the Financial Statements- continued for the Year Ended 30th June 2024 10. TRUSTEES, REMUN£TION AThD BENEFfi8. ¢ODtinued Trnstees, expenses Durillg the year ended 30th June 2024 ¢xpenscs totalling £79 (2023: £J)iE) were reimbursed to one trustee for travel expenses. ii. STAFF COSTS 2024 2023 Wages and salaries So¢Aal security costs Other pension costs 168,046 10,161 7,923 189,426 11.485 9.471 186,130 210,382 The average montbly nuniber of etnployees duTiDg tlle year was as follows: 2024 2023 ChaTilable Activities No employees received emolum¢ats in excess of £60,000. The totsl valu¢ of ¢nlOYee benefits received by key n]anageD]ent during the year ¥VdS £36246 (2023: £34,588). 12. TANGtBLE FIXED ASSETS Fixtures Motor vebicles Computer equipment fittijw Totals COST At 1st July 2023 7.038 19,100 28,276 460 (483) 54,414 460 (483) Additions Disposals At 30tIL Juue 2024 7,038 19,100 28,253 54,391 DEPRECL4TION At 1st July 2023 Charge for year Eliminated on disposal 2,509 1,510 15,280 3,820 27,936 330 {483) 45,725 5,660 (483) At 30th June 2024 4,019 19,100 27,783 50,902 NET BOOK VALUE At 30th June 2024 3,019 470 3,489 At 30th June 2023 4,529 3,820 3a0 8,689 Page 16 continued...
Creation Ministnes Intern2tion91 (UKIEurope) Ltd Notes to the Fijjantial Statements - continued for the Year Ended 30th June 2024 13. STOCKS 2024 2023 Stock 84,247 77,104 14. DEBTORS: AMOUNfs FALLING DifE IvITl ONE YEAR 2024 2023 Trade debtors Gift aid to be re¢laim¢d VAT Prepayments and accnjed illcoroe 105 8,763 1,678 2,525 1,422 3,407 1,599 13,071 6,428 15. CREDTTORS: AMOUNTS FALLING DUE WITKtN ONI YEAR 2024 2023 Trade creditors Social security and other taxes Other ¢reditOTS CMI Australia CMI USA Accnllls and deferred income 8,427 1,853 347 6.578 200 3,844 1,155 2,639 199 4,200 21,249 8,193 16. MOVEMENT TN FUNDS Net movement in funds At 30.6.24 At 1.723 Unrestricted funds General fund 453213 (7,335) 445,878 TOTAL FUNDS 453213 (7,335) 445,878 Net movement in knds, included in the above are &8 follows: coming Tesources K¢sources expended Movetllent in funds Unrestricted funds General fi]nd 353298 (360.633) (7,335) TOTAL FUNDS 353298 (360,633) (7,335) Patse 17 coThtinued...
Creation Millistries International (vrOpe) Ltd Notes to the Financial Statements - continued for the Year Ended 30th June 2024 16. MOVETrIENT IN FtfNDS. tontinued Compar2tives for movement in funds Net movem¢nt At 30.6.23 At 1.722 Unrestricted funds General filnd 313213 140,000 453,213 TOTAL FUNDS 313213 140,000 453,213 cOmpative net movement in funds, iD¢lud¢d in the above are &8 follows: Incoming resources Resources expended Movement in fijllds Unrestricted funds General fid 539,245 (399,245) 140,000 TOTAL FUNDS 539245 (399,245) 140,000 A current year 12 months aod prior year 12 months combined position is as follows.. Net rnovement in funds At 30.6.24 At 1.7.22 Unrestricted funds Genernl fuThd 313,213 132.66S 445,878 TOTAL FUNDS 313,213 132,665 445,878 A current year 12 months and prior year 12 n)onths combined net mL)vement in funds. included in the above ale as follows.. IoGorDing resources Resources expend¢d Movement in fiwds Unrestritted funds General fLd 892.543 (759.878) l32,665 TOTAL FUNDS 89? 543 (759.878) 132,665 Page 18 continued...
Creation Ministries Interll2tional (UIQEurope) Ltd Notes to the Financfial Stat¢mellts- tontinued for the Year Ended 30th June 2024 17. RELATED PARTY DISCLOSURES The entity bas a director in ¢orDmon with the cOEYany that provid paytoll services. TraDsactions are on an atms length basis and totalled £628 for th¢ year ended 31)th June 2024. Page 19
Creation Ministries Internation21 (UIUEurop¢) Ltd Detsiled Statenjent of FinanciaI Athities for the Year Ended 30th June 2024 2024 2023 Charitable acttvities Brought foTward Closing Stock Conferellce costs Bank charges 427,270 (84,247) 445,891 (77,104) 12.640 7,845 5,480 348,503 389.272 Support tosts Governance tosts AuditOTS' remuneration Accountancy and legal fe&s 2,300 400 2,200 2,700 2,200 Total resourc¢s expended 360,633 399,245 Net (expenditure)fwcome (7.335) 140,000 This page does not fottn part of the statutory financial statements Page21