2021-12-31-accounts - Omf International (UK)

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		Pages
Trustees' Annual Report		2-14
Independent Auditor's	Report	15-17
Statement of Financial	Activities	18
Balance Sheet		19
Cash-flow statement		20
Notes to the Financial	Statements	21-35

Independent Auditor's Report to the trustees and members of OMF International (UK) For the year ended 31 December 2021 adequate accounting records have not been kept, or rthms adequate for our oudit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records ané returns,. or rtain disdosures of directors, remunerati( specified by law are not made; or we have not receNed all the information and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemption in preparing the directors, report. Respon51bllltles of trustees As explained more fully in the trustees. responsibilities statement Set out on page 16, the tsustees (who are also the directors of the charitable company for the puSe5 of company law) are responsible for the preparation of the finanaal statements and for being satisfied that they give a true and fair view, and for such intemal control as the tnjstees determine is necessary to enable the preparation of financial ststements that are free from matsrial misstatement, whether due to fraud or error. In preparirrfj the financial statements, the trustees are responsible for assessing the charitable company's abilfjty to continue as a going concern, disdosing, as applicable, matters related to going concern and Ljslng the going concern ba515 of accounting unless the tnjstees either intend to liquidate the charitable company or to cease operations, or have no aliStiC aernatIVe but to do so. Audltorfs responslbllltles for the audlt of the flnanclal statements Our objettives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstaternent, whether due to fraud or error, and to i5SLJe an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordan with Is (UK) will always detect a material misststement when rt exists. Misstatements can arise from fraud or error and are considered material if, indiv4dually or in the aggregate, they could reasonably be experted to Influen the economic decisions of users taken on the basis of these financial statements. A further description of our responsibiif(ies is availableon the Financial Rep)fong Council's website at: https:Ilwww.fr£.org.uklOur-WorklAudiVAUdit-ané-assuran1standardS-and-guIdancejStandardS-and-guI3nfr- auditorslAuditors-responsibilities-for-audit/Description-of-auditors-reswn&bilitr'es-for-audit.aspx. This desuiption form5 part of our auditors report. Extent to which the audit was considered capable of detecting irregularities, induding fraud Irregularitie5, Irregularities, including fraud, are instances of non-complian with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council s webste. to detect material misstatements in respect of irregularities, including fraud. We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, induding in latiOn to the legal an(i regulatory framework applicable an¢J ho¥v the ents.ty is complying with that frarllework. Based on this understanding, we identfy and asse5S the risks of material misstatement of the financial statements, wheth& due to fraud or error, design and perfomi audit procedures resp)nsive to those risks, and obtsin audit eviden that is sufficient and appropriats to provide a basis for our opinion. This indudes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations. induding fraud. In response to the risk of irregularities and non-complian with laws and regulations, including fraud, we designed procedures which induded.. Enquiiy of management and those charged with governan around actual and potential litr"gatlon and clalms a5 well as actual, suspetted and alleged fraud; Reviewing minutes of meetings of those tharged wlth g0veman. Assessing the extent of compliance with the laws and regulations considered to have a dirett material effect on the financial statements or the operations of the company through enquiry and inspertion,. Reviewing financial statement disclosures and testing to Supming documentation to assess CoMlan with applicable laws and regulations: Performing audit work over the risk of management bias and override of controls, induding tesbng of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transartions outside the norrnal course of business and reviewing accounting estimates for indicators of potential bias. 16

				2021			2020
			unmstricted	Restricted	Total	Vnnsstrictad	linsnrctad	Total
			FundsI	FundsI	Funds 6	Funds	Funds 6	Funds 6
Income from:
Donations:
Support gifts			4,399,051		4,399,051	4,429,704		4%29704
General donations			609,037		609,037	637,554		637+$4
Project Funds UK			8,568	134,934	143,502	2,665		2~66$
Project Funds overseas				230,352	230,352		390,Z01	3Ã,202
Legacies UK		2,16	1,290,222		1,290,222	350,06'2		350,062
Legacies for Overseas				75,725	75,725		57,732	57,732
Other Trading Activities
Publications income			18,807		18,807	22,124		22124
Rental income			45,045		45,045	43,745		43,74S
Investment income:
Gain on disposal of properties	investment						37,255	37255
Interest receivable		2	2,238		2,238	4,480		4I480
Total Income			6/372~968	441~011	6~813g979	S&90334	4SS288	5~975~$22
Expenditure on:
Raising funds			4,787		4,787	4,345
Charitable activities
Mobilisation			924,298	51,769	976,067	1,054710	Z8942	2~083~ir$2
Evangelisation			3,379,578	'i07,259	3,786,837	3,350,245	355557	3,745,802
Mission Support		3,7	455,013	6,471	461,484	527„376	3,618	530994
Administration Support		3,6	538,474		538,474	510,451		Sf0~452
Education and Information			43,085		43,085	39,109		39,109
Retirement		20	628,689		628,689	658240		OSS,240
Total Expenditure			SJ973I924	465I499	Eg439~423	6184476	3SSf17	6~72,$93
Net Gains on investments			649,967	12,274	662,241	626,744	14836	638,SSO
Net (expenditure)/	income		lg049~011	(12g214)	1~036g797	(67g398)	108r907	41~509
Transfers between funds						2,638	(2,6'38j
Net movement in	funds		1,049,011	(12g214)	1I036g797	(64760)	106269
Reconciliation offunds:
Total funds brought	forward		14,397,745	446,515	14,844,260	14,462,505	340,246	14,802,751
Total funds carried forward			15g446(756	434r301	15I881r057	f4&97I74$44651514844~260

Balance Sh	eet asat 31Decem	ber 2	021
					Note
						2021	2020
						6	6
Fixed Assets Tangible Fixed Assets- Properties Tangible Fixed Assets- Other Fixed Assets Investments- Managed Fixed Assets Investments- Unlisted					12 12 13 13	5,635,600 44,'174 6,673,121 33627	5752,400 74167 6,D10880 33617
						12388,822	11671676,
Current Assets
Investment property held for re-sale Stock					15	37,418 8,519	37,418 8351
Debtors					16	1,108,791	595795
Cash at bank	and in hand					2,967,051	2,723838
						4,121,779	3,365,402
Creditors: amounts falling due within one year					17	(627,544)	(392,216)
Net Current	Assets					3,494,235	2,973186
Total Net Assets					19-22	15,881,057	14844,260
Funds:
Unrestricted	-General Fund					3,210,242	3363147
Designated	- Property Fund - Retirement Fund					5,840,000 3,714,347	5840,000 3,336594
	- HSF Buffer reserve					684,000	760 000
	- Legacy Reserve					837,000	414,0DO
	- Home Assignment	Ministry	Fund			213,670	233076
	- Reverse Mission Training of East Asians		8 Equipping			250,000
	—Diaspora Related Collaborative Ministry Projects			ik		200,000
	- Other Designated	Funds (& E200k)				497,497	450,928
Total Unrestricted Funds					19-22	15,446,756	14,397,'745
Restricted	Funds				19-22	434,301	446515
Total Funds					19-22	15,881,057	14,844260

					Total funds	Prior Year
						funds
						6
Cash flows from operating	activities:
Net Cash used in operating activities					255,876	23,911
Cash flows from investing	activities:
Interest from investments					2,238	4,480
Purchase of property, plant and equipment					(14,901)	(17,663)
Net cash provided (used in)/by investing			activities		~[12,663	~13/8Z
Changein cash and cash equivalentsin period			the	reporting	243,213	28,728
Cash and cash equi valente reporting period	atthe beginning			ofthe	2,723,838	2713,110
Cash and cash equivalents	atthe end ofthe			reportfng period	2,967,051	2,723838
Reconciliation ofnet (expenditure)/income				to net cash flow	from operating activities)
					Current Year	Prior Year
					6	6
lyetincome forthe reporting period (as offinancial activities			per	the statement	1,036,797	41,509
Depreciation					161,394	136,591
Interest from investments					(2,238)	(4,480)
Increase/(Decrease) in creditors					235,328	(93,426)
(Increase)/Decrease in debtors					(512,996)	567,683
Increase in stock					(168)	(940)
Gains on investments					(662,241)	(638,580)
Decrease in Investment Property held for		re-sale				15554
Net (used in)/provided by	operating	activities			255,876	23,921

Mobilisation	expenditur	e
		unrestricted	Restricted	TOTAL	unn.strrctsd	Rsslictsd	TOT4L
		Funds	Funds	2021	Funds	Funds	2020
		6		6			$
Staff salaries (note	11)	118,563		118,563	122,290		122,290
Member Allowance	payments	376,572		376,572	399,519		399,519
Member Expense Member Pension,	payments Nl &Tax	(1,847) 80,474		(1,847) 80,474	630$ 79,537		6,305 79,$37
Home Assignment & Expenses	Allowances	260,161		260,161	375832		375832
Literature &Information		49,719		49,719	33,722		33,722
Other Costs		39,434	51,769	91,203	36,149	28,942	65091
Serve Asia Teams		1 222		1 222	13$6		1356
		924,298	51,769	976,067	2,854,728	28942	1,083,$52

		Unrestricted	Restricted	TOTAL	Lrnrnsur mud	Rnsrrfclnd	TOTAL
		Funds	Fulldn	2021	Funds	Funds	2020
Overseas allocation to OMF International (Singapore)		1,975,139	336,077	2,311,216	2229,442	315761	2,545203
Member Allowance Member Expense Member Pension,	payments payments NI 8rTax	613,785 (11,622) 684,031		613,785 (11,622) 684,031	421,029 f4,317) 676,059		421,029 (4,317) 676059
Serve Asia Teams		3,666		3,666	4,068		4,068
Other costs		114,579	71,182	185,761	63,964	39,796	103,760
		3r379r578	407r259	3r786r837	3r390r245	355r557	Sr74$r802

Mission Suppo	rt expendit	ure
		Unrestricted	Restricted	TOTAL	unrssrrr crud	Rssrrraunr	TOTAL
		Funds	Funds	2021	Funds	Funds	2020
			6	6	6		5
Staff salaries (note 11)		109,092		109,092	117220		117220
Member Allowance Member Expense Member Pension,	payments payments NI Ik Tax	191,822 (296) 32,190		191,822 (296) 32,190	238,039 3,611 31,815		238039 3611 31,815
Home Assignment sr Expenses	Allowances	28,907		28,907	41,759		41,759
Other costs		93,298	6,471	99,769	94,932	3,618	98550
		455,013	6,471	461,484	527r376	3,028	530r994

			Unrestricted	Restricted	TOTAL	Unrestricted	Reutncted	TOTAL
			Funds F.	Fundsf	2021 f	Fundr 6	Funds 6	2020 6
Staff salaries	(note 11)		204,977		204,977	210,528		210,528
Member Allowance		payments	19,895		19,895	22,/5/		22,757
Member Expense		payments	(36)		(36)	438		438
Member Pension,		NI lk Tax	8,047		8,047	7,954		7,954
Information	Technology		55,878		55,878	39,044		39,044
Exceptional	Costs		13,578		13,578
Other costs			236 135		236 135	229730		229/30
			538,474		538,474	S10,4S1		510/451

		Unrestricted	Restricted	TOTAL	et/Feted	Reetncted	TOTAL
		Funds	Funds	2021	Fundr	Funds	2020
		f	f	f	6		6
Literature	and information	10,469		10,469	7,637		7,637
Books and	Conferences	999		999	372		372
Staff salaries (note 11)		31617		31617	31100		31100
		43,085		43,085	39,109		39,109

			Uhrestl'Icted	Restl'Icted	TOTAL	On/eetricted	Reetncted	TOTAL
			Funds	Funds	2021	Funds	Funds	2020
				f	f
Retired member payments		allowance	619,634		619,634	647838		647,838
Member	Allowance payments		4,974		4,974	5689		5689
Member	Expense	payments	(9)		(9)	109		109
Staff salaries (note 11)			4,052		4,052	3,984		3,984
Other costs			38		38	620		620
			628,689		628,689	658,240		658/240

costs
				2021	2020
				E	E
Wages 88 salaries Social security costs Pension contributions				401,329 '34,644 32 328	415891 36,849 32382
				468 381	485122
Staff costs analysed		by function:
Note 5	Mobilisation	Expenditure		118,563	122,290
Note 7	Mission Support			109,092	117,220
Note 8	Administration	Support		204,977	210,528
Note 9	Education and Information		Expenditure	31,617	31,100
Note 10Retirement		costs		4 052	'3984
				468 381	485.222

The average number	The average number	ofemployees wa	ofemployees wa	s 17(20288 15).	s 17(20288 15).
Key management personnel		comprise trustees,		who are unpaid,		8senior managers (including			the National Directors), of
which 5 individuals	are supported members		and 3are employees.			The total benefits received			by key	management
personnel, including	pension	contributions,	in	the year was E281,194(2020: E269,284).
12Tangible fixed	assets
		Land					Fixtures
		and	Computer		Offrce		and	Motor
		Buildings	equipment		equipment		Fittings	Vehicles		Total
		E				E
Cost or valuation
1January 2021		5,840,000		238,546		62,229	109,675	10,150		6,260,600
Additions				5,282			9,619			14,901
Disposals				(32,071)			(3,726)			(358797)
31December	2021	5,840,000		2115757	62 229		115568	102150		6239704
Accumulated	depreciation
1January 2021		(872600)	(203936)		(592653)		(72694)	(108150)		(4342033)
Charge for the	year	(116,800)		(23,627)		(804)	(20,163)			(161,394)
Released on disposals				32,071			3,726			35,797
31December	2021	(204,400)	(195,492)		(60,457)		(89,131)	(10,150)		(559,630)
Net book value
1January 2021		5,752,400		34,610		2,576	36,981			5,826,567
31December	2021	5,635,600		162265		12772	262437			5,684,074

sset Inve	stments
				Managed	Investments
				2021	262D
				E	E
Market Value at 1January			2021	6,02D,BBD	5,372,300
Unrealised	investment	gains/ (losses)		662,241	638,580
Market Value at 31		December 2021		6,673,121	6,010,880

			Unlisted	Investments
			2021	2626
			E	E
Value at 1	January 2021		33,627	33,622
Additions
Disposals
Unrealised	investment	gains/ (losses)
Market Value at 31		December 2021	33,627	39622

Current A	sset Inves	tmen	ts - prop	erty he	ld for sale (restr	ld for sale (restr	icte	d)
					2021			2020
						I		6
Market Value at 1january			2021		37,418			52,972
Disposals								(15554)
Unrealised investment		gains/ (losses)
Market Value at31		December 2021			37,418			37,4IB
n to sell the remaining maisonette			freeholds	in 2021 was deferred		and	will	be reviewed	in 2022	by t
(UK) Investment	Committee.
rs
							2021		2020
							I
Trade debtors								1,585		531
Other debtors							21,307		1,863
Prepayments							43,937		42,139
Accrued income -	Legacies						1,007,676		453,295
Accrued income -	Gift Aid						34,223		37,904
Accrued income from maisonette			freehold sale						60,000
Accrued income -	Other							63		63
						1,108,791			595795

				2021	2020
				I
	Sundry creditors			239,897	121,839
	Accruals	- general		16,612	30,946
	Taxation	&social	security		4,743
	OMF International		(Singapore)	49,920	58,198
	Deferred	income		321,115	176;490
				627,544	392,216
Reconciliation ofdeferred			income
				2021	2020
				6
Amount	Deferred	at January 12021		176,490	174,983
Amounts	deferred	in year		158,286	65920
Amounts	received	- from	prior years	(13,661)	(64,413)
Amounts	received	- from	current year
Deferred	income	at31D	ecember2021	321115	276490

				2021	2020
				E	E
Financial	Assets
Financial	assets at amortised cost			4,031,905	3277,495
Fixed asset investments		at market value		6,673,121	6010,880
Fixed asset investments		at fair	value	33,627	33,627
Financial	Liabilities
Financial	liabilities at amortised		cost	306,429	215,726

9Funds
					Balance	Income	Expenditure	Investment	Transfers	Balance
					01/01/2021		f	gains f		31/12/2021 f
General Fund					3g363r147	4 534026	(4 113 110)	266~179	(840 000)	3~210r242
Designated Funds:
Property Fund					5,840,000					5,840,000
Retirement Fund					3,336,594			377,753		3,714,347
HSF Buffer Reserve					760,000				(76,000)	684,000
Legacy Reserve					414,000				423,000	837,000
Reverse Mission Training Equipping of East Asians		ik							250,000	250,000
Diaspora Related Collaborative Ministry Projects				ik					200,000	200,000
Joining Members Fund Home Assignment Ministry			Fund		39,741 233,076	78,887 269,662	(102,416) (289,068)		8,000	24,212 213,670
UK Ministry Funds					125,025	1,450,856	(1,402,552)			173,329
Creation Care Fund					20,000		(8,331)		20,000	31,669
Philip Henman Fund					44,208		(14,470)	6,035		35,773
Marketplace Ministry	Fund				200,000		(5,415)			194,585
Listening to East Asian Church Voices									15,000	15,000
Other Miscellaneous (&E20I&)	Funds				21,954	39,537	(38,562)			22,929
Total Designated funds					1Ir034r598	Ig838r942	(lr860r814)	383g788	840r000	12r236g514
Total Unrestricted	Funds				14g397~745	6r372g968	(5/973~924)	649g967		15,446,756
Restricted Funds
Holland Legacy Fund					38,559					38,559
Hong Kong Welcome Fund	Project				10,834	127,922	(121,404)			17,352
Chapman Legacy					81,173		(2,837)			78,336
Medical Missionaries	Fund				35~1			3,3'l2		38,823
Leah Evans Bequest					97,369			8,932		106,301
Other Miscellaneous ((E7I&)	Funds				53,099	7,012	(5,181)			54,930
					316,515	134,934	(129,422)	12,274		334,301
Other Overseas funds					130,000	306~077	(336077)			100,000
Total Restricted Funds					446,515	441,011	(465,499)	12,274		434,301
Total Funds					14r844r260	6r813g979	(6+39r423)	662,241		15,881,057

		Balance	Income	Expendifure	Investment	Trans(a ns	Balance
		01/01/2020 6			gains 6		31/12/2020 I
General Fund		12$84,910	3257681	(3,B51,042)	256,'669	(8,885071)	3,363,147
Designated Funds:
Pivperty Fund						5,840,000	5840r000
Retirement Fund					364,256	2,972,338	3,336,594
HSFBuffer Reserve		BSO,OOO				(90000)	760,000
Legacy Reserve		438r000				(24,000)	414,000
joining Memhers Fund		38892	44,495	(43,ON)			39,741
Home Assignment Ministry Fund		349,21S	303,752	(419,891)			233,076
UK Ministry Funds		86,140	1,826748	(1,787,863)			12S,OZS
Creation Care Fund						20000	20,000
Phiilp Henman Fund		$5,662		(16,901)	5819	(372)	44,208
Logos i-lope Fund		45,000		(12,860)		(32,140)
Marketplace Ministry	Fund					200,000	200,000
Other Mlsrellaneous (&520K)	Funds	14~686	57658	(52,273)		1,883	21,9$4
Total Designated funds		1~877~59$	42326$3	(2333,434)	370~07S	8~887r709	11,034,S98
Total Unrestrfcted	Funds	14~462,$0S	Spt90,334	(6,184,476)	626,744	2,638	14,397,745
Restricted Funds:
Holland Legacy Fund		S1,303	37,255	(12,745)			7$,813
Hong Kong Vyelmme	PrvjectFund		15000	(4166)			10834
Chapman Legacy		84,730		(3557)			81r173
Medical Fgssionari as	Fund	3Zr464			3.223	(206)	35~481
Leah Evans Bequest		89,30S			8,613	(549)	97,369
Other Miscellaneous (&E30k)	Funds	$2r444	17,172	(51,888)		(1,883)	15r84S
		310,246	69,427	(723S6)	11,836	(2,638)	316515
Other Overseas funds		30,000	415,761	(3157i51)			130r000
Total Restricted Funds		340,246	485,188	(388117)	11,836	(2638)	446,51S
Total Funds		14,802,rsI	$97s522	(6,572,593)	o38,5eO		14,844,260

			Restricted Funds	Designated funds	General Funds	Total 2021
Tangible	Fixed Assets			5,635,600	44,474	5,680,074
Fixed Asset Investments		- Managed	123,685	3,867,263	2,682,173	6,673,121
Fixed Asset Investments		- Unlisted			33,627	33,627
Current	Asset Property	Investments	37,418			37+18
Current	Assets		273,198	2,733,651	1,077,512	4,084,361
Current	Liabilities				(627,544)	(627,544)
Total			434r301	12236514	3r210r242	15r881r057
rior YearAnalysis ofnet assets between Funds
			Restricted Fvnds	Designated fvnds	General Fvnds	Tot /2020
			6	6	6	6
Tangible	FixedAssets			5752,400	74167	5826,$67
FixedAsset Investments		—Ntanaged	111,411	3,483,475	2,415994	6,010,880
FixedAsset Investments		- Unlisted			33,627	33v627
Current	Asset Property	Investments	37,418			%~418
Current	Assets		297,686'	1,798,723	1,231,575	3327984
Current	Liabilities				(392,216)	(392,216j
Total			446,51511,034,598		3,363,147	14,844,260