OMF OMF INTERNATIONAL (UK) Registered charity England & Wales: number 1123973 Scotland: SC039645 Republic of Ireland: 20200671 Company limited by guarantee England & Wales: number 06541911 Report and Financial Ststements For the year ended 31 December 2024
OMF INTERNATIONAL (UK) Trustees. Annual Report - Contents For the year ended 31 December 2024 Pages Trustees, Annual Report 2-16 Independent Auditorfs Report 17-19 ststement of Finanaal Activities 20 Balan Sheet 21 Cash-flow statement 22 Notes to the Flnanclal Ststements 23-37
OMF INTERNATIONAL (UK) Trustees, Annual Report- Reference & Admlnistrative Detalls For the year ended 31 December 2024 Governlng document: Memorandum & Artldes (Dated 28 February 2014) Charlty Number: 1123973 (England & Wales) SC039645 (Scotland) 20200671 (Republic of Ireland) Company Number: 06541911 (England & Wales) Trustees: K. S. Ashman (appolnted Chalman 3 September 2019) S. Beattte G. T. Featherstone (retired 7 March 2025) L. L. Lee Y. Huang Rev M. Wi E. K. Y. Kwan S. G. Connolly Rev T, L. Wambunya . A. Roles (appointed 5 September 2024) National Dlrertors P, & C, Rowan Secretsry K. S. Ashman (resigned 16 May 2024) J.K Niblett (appointed 16 May 2024) Natlonal & Registered Offlce: Statlon Approach Borough Green Sevenoaks Kent TN15 8BG Auditor: Azets Audlt Services 2nd Floor, Regis House 45 King William Street London EC4R 9AN Bankers: National Westminster Bank plc 7th Floor 280 Bishopsgate London EC2M 4RB Ulster Bank College Green Branch PO Box 145 33 College Green Dublin2 Republic of Ireland
OMF INTERNATIONAL (UK) Tru5tees' Annual Report- Reference & Adminlstrative Detalls For the year ended 31 December 2024 Sollcltors: Wellers LLP Tenison House 45 Tweedy Road Bromley BRI 3NF Bates Wells Braithwaite LLP 10 Queen Street Pla London EC4R IBE MB Sollcltors Llmited Studio J The Quays Concordia Street Leeds LSI 4ES
OMF INTERNATIONAL (UK) Trustees, Annual Report For the year ended 31 December 2024 Introduction The Trustees are pleased to present their report together with the audlted financial statements for the year ended 31 Dernber 2024. The reference and administrative detalls set out on pages 3 & 4 fomi part of this report. The financial statements comply with current ststutory requirements and the Charlties Statement of Recommended Practt (Finanaal Rewrting Standard 102) effective from l January 2019, the Companies Att 2006 and the Charities Att 2022. Structure, Governance, and Management OMF International (UK) "OMF UK" is a member body of OMF International, formerly the Overseas Missionary Fellowship, an inter-denominational evangelical Christian organisation which is united by common aims and values set out by James Hudson Taylor, the fourKJer of the China Inland Mission, and the organisation is committed to sharing the good news of Jesus Christ in all its fullness Wlth the peoples of East Asia. The Overseas Missionary Fellowship succeeded the China Inland Mission, which ceased to operate in China in 1951. The intemational organisation was restruttured during 2015 and now has a Covenantsl Agreement to which all legal entities linked to OMF Intemational, including OMF UK, are signatories. This agreement sets out the commonly agreed principles, praCtIS and responsibilities shared by those different entities, whilst ensuring the autonomy and separate legal responsibilities of each unit. OMF UK co-operates with other Christian agencies in the pursuit of its mission, both directly and through Global Connections, an inter-mi55ion organisation that seeks to develop common understsnding and approaches to key issues in Christian mission. OMF International (UK) was incorporated as a company limited by guarantee under a Memorandum and Articles of Association having no share capital on 20 March 2008 and was registered as a charitable company in England & Wales on 7 May 2008, in Scotland on 11 June 2008 and in the Republic of Ireland on 15 August 2018. During the period 20 March 2008 to 31 March 2009 the entity was dormant. At the d05e of business on 31 March 2009, the undertakings, assets and liabilits'es of the unincorporated body known as OMF Intemational (UK) (charity number 1086040) were transferred to this charitable o)mpany. The charitable company began to operate on l April 2009. We understand the Importan of having an effective Board and Trustees, who are all evangelical Christians in full agreement with the doctrinal basis and ethos of the organisation and are carefully selected on the basis of their skills and expertise. Trustees serve for a maximum of three consecutive temis of three years. New Trustees undertake a process of inducb'on to give them a sound understanding of OMF UK and its work. They are able to atter)d Conferen5, to meet personnel at their work, and to attend meetings with various members of the Leadership Team. The Trustees meet at least four times a year, including a day in the National offi in Borough Green, Kent. The Trustees delegate day-to-day management of OMF UK to the National Direttors and the Leadership Team. The Trust&s delegate the detailed scrutiny of budgets and annual accounts to the Audit and Finance Committee, which meets at least four times a year and is composed of representative Trust&s and other suitably qualified persons. The National Directors and all but one member of the Leadership Team, who is an employee, in common with all other mission partners of OMF UK seNing in UK, receive monthly needs-based allowances on the same needs based allowan levels as other members. The living allowan levels are reviewed on an annual basis, (normally with a RPI Inase) by the Trust5. (The* were benchmarked in 2015 against the stipend for Anglican curates and allowan5 paid in other similar organisations). If OMF UK does not receive sufficient income the living allowan are reduced. (Within OMF internationally, its supported mission partners are known as members and the temi 'members' is used throughout this document, only being used in the sense of company law 'members' In Note 25). On an ongoing basis, the Trustees review their current PN)Ilcles and processes against those detailed In the Charity Governan Code, seekn'ng to adopt the recommendations of the Code towards increasingly effecttve governance and achievement of charitable objectives, where these are not already being implemented.
OMF INTERNATIONAL (UK) Trustees. Annual Report For the year ended 31 December 2024 Objectives and Activities We have referred to the tharity Commi55ion's general gUIdan on public benefit when reviewing our aims and objectives and in planning our activities. The objects of OMF UK a. The advanrnent of the Christian faith worldwlde The advanrnent of education according to Christian principles The vision of OMF UK 15, by God's gra, to see OMF UK as a catalyst for the Church sharing the good news of Jesus Christ in all its fullness among East Asia's peoples through all aspects of life. This will be athieved by developing OMF UK as a hub for intercultural, integral and indigenous mi55ion, working collaborats'vely with Churches, OMF Centres, Agenoes, and the East Asian diaspora, across the street and across the wodd. Within the UK and Ireland, OMF UK is increasingly seeking to put local churches at the heart of its mission, channelling resources towards resourcing, training and facilitating churches and individuals to engage in world mission, with a special focus on East Asia's unreached peoples. This is in addition to its traditional role in the selecting and allocating of personnel to work with East Asia s churches and amongst its peoples in evangelistic teaching and leadership training ministries. In response to the demographic changes in world Christianity which have been steadily impacting the global churth and the context of its mission, a significant shift in focus is to ensure that it is the East Asian churches. requirements and agenda which are taknng priority, including COnderatIon of whether sending workers from the UK is better and more appropriate than resourcing local East Asian workers. Whichever of the priorities detailed in the section above are pursued, the intended public benefit or impatt, which is difficult to measure quantitatively, is through enhancing the physical, mental and spiritual well-being of the East Asian beneficiaries, also leading to positive transformational development within their communities. Furthemiore, significant public benefit is derived by the UK and Irish churches as OMF UK'S Servi to them SkS to facilitate its own Servi and witness for engaging in culturally sensitive, effective and infomied ways with the East Asian and other communities (be they cross-cultural or cross generational) living on their doorstep. Vision and Strategy In 2021 OMF UK developed a fresh vision and strategy for its work. This renewed vision and strategy has continuity with directions pursued in rent years, but also demonstrates innovation in developing new pathways for OMF to deliver its core objectives for a mission landscape in the UK, Ireland and East Asia that continues to change. The missiology that frames our vision and strategy is built around thr key terms: indigenous: a commitment to the local people and contex¢ and to their missional agenda; integral,. a commitment to integrated ministry and whole-life discipleship as we share the good news of Jesus in all its fullness; intercultural.. a commitment to mutuality and reoprocity, and to our own transformation as we share the good news with others. The OMF UK strategy is summarized under flve maln polnts. l. Developing OMF UK as a hub for mission: In a fast-d)anging church and mission landscape, OMF UK alms to become a hub for sharing the goc(J news of Jesus with East Asia's peoples In the UK, to the UK, and from the UK. The hub contrpt emphasises the integrative, intercultural and multidirectional nature of what faithful witness to the good news of the kingdom needs to look like in today's world. Adoptsng the hub concept will deliver greater strategic focus, breadth of engagement and organisational agllity. The hub concept is an intentional move away from the 'home' and 'field' terminology common in mission organisations and better refietts the reality that the UK is not just a pla where missionaries are sent from, bLrt also a context into which missionaries are being reiVed and where intercultural mlnistry is being carried out.
OMF INTERNATIONAL (UK) Trustees. Annual Report For the year ended 31 December 2024 2. Recognising that Asia is on our doorstep in UK and Ireland Given the diverse nature of many communities across the UK and Ireland, Asia is increasingly on our doorstep and OMF UK therefore has opportunities to connect global with local mission, and to strengthen the connection beleen our exlsting diaswra ministries and our church lated mobilisation ministries. The diversity of communities is seen in the fatt that a quarter of the evangelical church in the UK and Ireland consists of people from ethnic minorities. Becoming a hub for intercultural mission entails coming alongside such churches with a commitment to reaproaty in our relationships and to our own transformation as we share the good news with others. 3. Creating a Diversity of Pathways In a world where the traditional missionary model is increasingly difficult to facilitate, OMF (UK) will develop a diversity of pathways for Christians in the UK and Ireland to share the goc(I news across the street and across the wortd. OMF will do this in collaboration with other OMF Centres, through plaments and ministries that include both short and long- term opportunities for ongoing engagement in global mission. 4. Developing our Commitment to Integral Mission OMF UK will ensure that these pathways reflett OMF'S commitment to integral MISOn, so that the good news in all its fullness is demonstrated through lives, ministries and vocations that proclaim the lordship of Christ over the whole of life and are shaped by the kingdom of God. 5. SeNing Indigenous Mission Movements OMF UK is committed to indigenous, locally centred ways for how the gospel takes root within, is expressed by, and shared from, local communities. Together with other OMF Centres, OMF UK will prayerfully seek ways to seNe indigenous mission movements in East Asia, understanding the Importan of listening and waiting for the invitation to co-create wider gospel initiatives. Relocation to Manchester The OMF UK National offi is relocating to Manchester in 2025. Over the last couple of years OMF (UK) has been exploring moving from the southeast of England to a more strategic office location that oin better support our work of sharing goc(I news of Jesus with East Asian peoples. This move is driven by a desire for the UK Offi to reflect the fact that our ministry increasingly involves not only sending workers from the UK overseas, but also serving East Asian churches the UK and welcoming cross-cultural workers sent to the UK. Using a balanced scorecard of relevant criteria, the Trustees and Leadership Team scored several cities in the midlands and North of England. These criteria included opportunities to build on existing relationships with OMF stakeholders and supporting churches, which remain from when the OMF North Regional Directorfs Offi was located there. In Manchester there are oppjrtunities on our doorstep to work with the many East Asian churches in the city. There a also plentiful university connections with many local and international students inhabiting the vibrant inner-city areas near Chinatown, ating further ministry opportunities. Manthester is also easily accessible; trains, planes, buses, trams and cars are all present in the urban infrastructure with a variety of frequent public transport options. Lastly, cost of living and Offi premises are more affordable than the southeast of England. The leadership team and trustees felt that establishing an office in ntral Manchester would facilitate our vision well, a sentiment shared by leaders from OMF'S Retum& Focus and Intercultural Ministries in the UK. All these factors combine to make Manchester an exating and strategic location for the new OMF (UK) offitr.
OMF INTERNATIONAL (UK) Trustees, Annual Report For the year ended 31 Dember 2024 structure of OMF International (UK) An operation overseen and supported from the Natlonal offi in Borough Green, led by the National Directors as part of Leadership Team comprising mainly of director members, who are responsible for the main functional departments. They are supported by skilled members, staff, interns and volunteers. The full financial sustainability and responsible oversight of workers amongst East Asians, ensuring that effettive and appropriate ministry d1CtiOn, pastoral contrrn and other support $truttuS are provided in the fields of ministry, meeting their necessary life and ministry requirements. Sustainability is achieved partly through members requiring minimum pledged finanaal support commitments. A netNork of Aa Representstives across the UK and Ireland who seNe the UK and Irish churches in their engagement in God's mission. Area Representatives a the primary face of OMF UK to the Christian public in the UK and Ireland, engaging with individuals and the Church through COnferenS, digital media, direct invitations, new enquiries or existing relationships. They are supported by OMF UK members returning from overseas fields of service for home assignments and by an OMF UK volunteer network called Bridge Asia, which has a dedicated focus towards mobilisation ministries. A Communications Department, which strengthens the ministry of engagement and Servi to the Christian public through organising OMF UK led events and attendance at third party Christian conferences, as well as printed and digital materials tsrgeting the specific needs of those engaging in cross cultural mission. Increasingly, strategies are being prioritised to develop engagement through collaborative SOare, such as Zoom, and other soaal media platforms, In addition, there is specific focus on those in the Millennial & Generation Z age range with initiatives such as the Serve Asia podcast series. The Candidate Department is supported by volunteer area ministry teams working together with the l(Kal church, to provide a thorowJh screening process for candidates to ensure their suitability to operate in a demanding mission context. The team seeks to prepare missionary candidates so that they remain effective and healthy, reducing unnecessary attrition. The short-temi mission department (Serve Asia) main purkK)se is to seeing increased engagement and awareness of God's mission to East Asians. It provides effective screening, mission discipleship resourcing, debriefing and follow up of short-temi workers to Serving OPkK)rtunities with East Asians. The department also seeks to engage UK Christians in God's mission to East Asia through Next Gen conferences (virtual & in-person) with a particular focus on transfomiational disapleship to equip them to share Jesus Christ cross culturally across the street and the wider world. An Intercultural Ministries department committed to furthering OMF (UK) s ministry among and with East Asian diaspora in the UK and Ireland. This department is led by the Intercultural Ministries Director (IMD). The IMD is responsible for crdinating all the diaspora related ministry of OMF in the UK and Ireland, collarating closely with OMF'S Returnee Focus UK Country Leader, as well as with other like-minded organisations and netorks. A People and Culture Department, whlch SkS to support members and their families, primarily while in the UK and Ireland, seeing them engaged and seNing amoThJst their sending churches and communities of supporters. The People and Culture Department also provides resources to both members and churches to help facilitate this. Volunteer Area Ministry Teams are a key part of the wider member care team as are the volunteer medical team and debriefers. Support is also provided for retired members in partnership with the local church as well as the adult children of members who have served with OMF UK. The Member Care and HR Department also oversees the personnel needs of the team of 16 full-time and part-time employed staff in the offi.
OMF IKfERNATIONAL (UK) Trustees. Annual Report For the year ended 31 December 2024 OMF UK'S identified core values with respect to undertaklng advltles and strategies a. depending on God in prayer. seeknng that the needs of the East Asian Churth and its peoples are the highest priority driving the organisation's agenda. keeping the priority of long-temi rnission and the blblical basis for mission before the Christian public, providing training, resourcing and facilitation of eThJagement; seeking general and personal income through prayer and the responsive provision of information while not appealing for funds; continuing to be a humble, learning organisation, listening to the Church in the UK, Ireland and East Asia, reviewing and critiquing our historic/traditional approaches to mission where these are being challenged and disrning God's leading to embrace new challenges/oppN)rtunities, 3ptIng the risk and loss of control inherent in such approaches; aiming to maintain high stsndards, whith include giving appropriate attention and resou to ensuring strong regulatory compliance; and maintsining value and integrity in relationships. The criteria used to measure achievement of the objectives are firstly, the amount of resour5 provided through OMF UK for serving the local churth operating amongst East Asians, as well as estsblishing pioneer ministries where the local churth is not already well established. One measure for quanb'fying this is the number of fully supported workers, ensuring they are engaging in ministries, which are regularly reviewed for their effectiveness and appropriateness, sent with full sending church involvement in the areas of prayer, finan and pastoral support, as a minimum. However, increasingly in the current changing world mission context, this quantifying of objective achievement needs to be considered in the light of whether it is workers (both overseas and in the UK) financed at high cost, overseas local workers financed at lower cost or a mix of both 5trategie5 which provides the greatest beneficiary impatt. In considering these matters, it needs to be noted that OMF UK is part of and integrally linked with a number of other entities comprising the Fellowship that is OMF International. This means that many of the intentions highlighted here may be more effectively achieved if they are also adopted by the other OMF Intemational entities that OMF UK works dosely with. Secondly, achievement of these objectives will be assessed in temis of having the right number of appropriately equipped, well managed and supported Area Representatives, OMF UK members on Home Assignment and volunteers engaging in effective training, resourcing, discipleship formats'on, mobilisats'on, candidate and merntr care activities on behalf of OMF amongst UK and Irish churches. Thirdly, achievement of these objectives 15 to be measured in terms of the breadth of church, cultural and generational constituencies with which OMF UK is able to engage and seNe effectively. Much of the current growth of the UK and Irish churches is outside of the traditional church constituency that OMF UK has engaged with over many decades and unless OMF UK is able to broaden its engagement in these areas, it is going to incTeaslngly find itself unable to achieve its desired objettives. Flnally, the costs of OMF UK have increased by less than infiation Sin 2010. The trustees will continue to be careful not to increa* expenditure any more than is strictly neSSary to deliver the strategy. However, the reduction in member numbers over the past 15 years, from 252 members at the end of 2010 to 146 at the end of 2024, is reducing the member support, the main source of income.
OMF INTERNATIONAL (UK) Trustees. Annual Report For the year ended 31 December 2024 Risk Analysls and Mitigation The Trustees recognise their SpOnsIbl11ty for the management of risk. Together with the Leadership Team, they have carefully considered the major risks facing the charity. They have vieWed and updated their risk register, which prioritises all recognised risks and identifies the mitigating factors, systems and controls in relats'on to each risk. The Trustees have also ensured that there is a comprehensive monitoring and review pr(Kess in pla to capture new risks as they may arise and that systems are in place to manage these. As part of this prO5s, the Charity Commission Internal Financial Controls Checklist for Charities (CC8) is completed on an annual basis. The Leadership Team rewrts to the Trust*s regularly on all these matters. The most significant medium to long-term risk to the organisation is, as already identified above, the effect of changes within the Church in the UK, Ireland and East Asia. In general, as already indicated in this repM)rt, the organisation is seeking to mitigate these risks by ensuring that faithfu I relationships of service to the UK and Irish churches (which entail more than just seeing workers sent out to serve through OMF UK) are prioritised and appropriately resourced. Included in this intents'on, the organisation has b&n taking steps to engage relevantly with a younger generation, both in terms of the opporbjnities for involvement presented to it and how these are communicated. 2024 and 2023 saw operational defiots of £497k and £539k. However, in 2024 the Trustees transferred 60% of the alloWanS to retired members from the retirement fund totalling £321k. This transfer will be performed annually, reducing pressure on the operational reserves. Working with children and vulnerable adults requires detsiled and appropriate policies and management to mitigate against risks arising from inappropriate relationships and actions towards such people. OMF UK has a comprehensive Safeguarding Policy, details of which are displayed on the organisation s website, prescribing that PrOsseS and protections are in place to ensure the wellbeing of such people when OMF UK is working with and serving them from time to time. OMF UK'S pattem of giving from supporters to primarily individual members means that the organisation is not exposed to the risk of changing giving pattems from single large donors. 10
OMF INTERNATIONAL (UK) Trustees. Annual Report For the year ended 31 December 2024 Achievements & Performance Member Summary At the end of 2024, OMF UK had an overall total of 146 members (160 in 2023). Of these, 90 members (2023: 101) came under the direction of field leadership in 14 countries of East Asia, although some worked from other countriesl from the UK. Their work varied widely but they all worked in partnership with local churthes. In addition, there were 24 members (2023: 24) in the UK and Ireland, w01ng as part of the Returnee FuS Field, reaching East Asians who expect to retum to their native countries. During 2024, OMF UK also supported one couple working in theological education in the UK (2023: 1 couple). In addition, there were 3 members serving on the Leadership Team (2023.. 5). Within the UK and Ireland there were also 8 members (2023: 11) serving in regional mobilisation roles. A further 10 members (2023.11) were serving in roles within Central Mobilisation, Member Care, Qindidates, SeNe Asia, Diaspora and International Leadership. There were also 5 members (2023: 8) who retained their OMF membership whilst temporarily pursuing other activib'es not under OMF UK'S direction. During 2024, there were 4 members who retired (2023: 6). 7 members resigned (2023: 9). The reduttion in member numbers is part of a broader trend seen across organisations in the same sector as OMF UK. In 2024, 2 new members joined indLJding I single and I spouse of an existing member (2023: 4 new members). We reiVed 7 new application5 during the year (2023: 3 applications) some of which withdrew during the application prcsS and some of which we antr'apate will become members during 2025. The People and Culture Team, working alongside the volunteer Area Ministry Teams, medical advisors and debriefers, ensured that members received good member care and support, remaining healthy and effective in ministry. Candidates were supported in their Gindidate process by the People and Culture Team working in collaboration with their local Area Representatives, Area Ministry and Medical Advisors. Candidates were prepared for becoming members through a thorough candidate Pro55 which induded interviews, virtual training and joining a candidates course which was held in June in 2024. These were designed to help to prepare candidates for effettive future ministry. Mobilisation & Media Strategy A brief review of the current outcomes is described below ead) goal. to see Workpla ministry increasingly established as a means for inspiring people to share Jesus Christ to East Asian peoples. to develop OMF UK Intercultural Ministries to see at Seast 8 regular, strategic & high-quality training opportunities provided for the Mobilisation & Media team. The first Work+Go candidate went to East Asia in early 2024. After an interim Peric of 9 months, we appointed a new workpla Ministry Manager in October 2024. A further Work+Go candidate departed for East Asia in January 2025 and by April 2025 we had a further 11 enquires in the system. Further to an informative orientation visit to several OMF ntre5 in Spring 2025 the Work+Go pathway is being regularly refined to be fit for purpose. We hope to have sent 5 workers by the end of 2025 along it. In 2024 The OMF UK Serve Asia Podcast completed season 11 which focused on Intercultural ministries. The team has intentionally been developing the Intercultural Ministry material in OMF UK now there is an Intercultural Ministries director. This has Included both visual and verbal brand identity. The material is gaining traction, the intercultural team is growing and having an increasing impatt throughout the UK. The Podcast continues to grow extyjnentially in its reach. Trainlng opportunities continue to be provided to the Mobilisation and Media team at the quarterly events held in Borough Green. Each of these has 8 sessions within which fellowship, training and learning from each other is prioritised. Recent training has focused on mobilisation prattl (for short term, long term and Workplace ministry applicants) and refined awareness of evolving East Asia centres.
OMF IKfERNATIONAL (UK) Trustees. Annual Report For the year ended 31 December 2024 Media Team to see 20 new resourtrs prOdUd, 10 for people who are already linked to OMF UK in some way and 10 for people who know nothing aty)ut OMF UK or who only have some awareness of OMF UK to create a measuring system that will be able to identify the impact and reach of each resource The Media team continues to deliver high quality resources on a regular basis and have achieved their targets. These have induded delivering conferentrs (The Swanwick national OMF Conference, the Scotjand & the Ireland conferentr) and the as%xiated literature, social media and logistics. P(KJcast seasons 11 and 12 were also completed. Two new books were released. The first was entitled Mud, Bullets and Open Roads (published by Ioofthose) which has sold over 3000 copies and the second, Jennie Hudson Taylor, has sold over 900 copies. Alongside these three editions of the Billions magazine were prodUd and each was distributed to over 6,500 supporters. OMF'S web and social media presence is regularly updated with inspiring content. Each resource continues to be assessed and measured for its effectiveness. Serve Asia (SA). our short-terni programme to see SA numbers reach 80 and SA Alumni members reach 40 annually to see at least one NextGen event to be held in each OMF UK aa every year This year we hope to send approx. 40 people went OLrt on SA placements. These included Returnee Ministry & Intercultural placements in the UK. There has been a NextGen training session for people considering a SA placement and those who have recently returned. These were held in most regions of the UK in 2024. Bridge Asia (BA), our community of volunteers to see BA numbers reach 60, comprising of at least some from SA alumni to see 2-3 BA teams in each OMF UK area There was a Bridge Asia Conferen in May 2024 which was well attended. At the end of 2024, there were approximately 50 BA team members throughout the UK. There continues to be regular turnover in each region which is managed by the local Area Representative. Area Representatives to see at least 10 new churches come into relationship with OMF UK annually to see the new Donorfy data system become ingrained in AR practi. The Area Reps work hard to continue to maintsin relationships with existing churches and connect with new church communities. New churches are regularly being engaged with as people apply to work withlalongside OMF UK. The new Donorfy system has started to become etnbedded in the mobilisation practi and is an effective, legal and safe method of handling the large amount of data from a diverse array of applicants and supporters to OMF UK. There has been some change within the team. Two members have moved on and one has effectively relocated to a different region. Inter-cultural Ministry We had developed a 4-session course called An Intercultural Approach to Church and Mission and have run it with 6 churcheslchristian organizations, including over 100 people. For many this was their first meaningful engagement with OMF. Our Intercultural Ministries team grew to 16 members engaged in range of fruitful intercultural ministn'es across the UK and Ireland. We represented OMF at number of intercultural and diaspora ministry events and consultstions. In most of these spaces in was a first-time engagement for OMF with individuals and churches present. We continued to collaborate in ministry and projects with other organizations with aligned objectives. This inclLKJed Welcome Church, Friends International, COCM, Intercultural Churches, Evangelical Allian One People Commission and Global Connections. We continue to collaborate in ministry with our Returnee F¢XUS colleagues, particularly in the area of training and facilitating intercultural Serve Asia plaments in the UK and Ireland. 12
OMF INTERNATIONAL (UK) Trustees. Annual Report For the year ended 31 December 2024 Financial Review The operational defiat was 497k (2023.. 539k). After extraordinary movements on the provision for historic legal costs and the impairment of a building, the overall result was a surplus of £52k (2023: deficit of £1.188m). Incoming resources to the organisation normally come from 3 main streams: general donations, legacies and gifts for the support of specific individuals. These donations are given to benefit the advan of the Christian faith worldwide, with a particular focu5 on the peoples of East Asia. Total incoming resources for the year amounted to £6,050k (2023: 5,912k), of which £324k (2023.. £303k) was restricted income. Incoming resources include £661k (2023: £746k) of legacy income. Support gifts increased slightly to £4,306k (2023.. £4,287k). Expenditure mainly covers charitable activities with just £6k spent on raising funds (2023,. £6k). The cost of charitable acbvities was £6,547k (2023: 6,441k) including an increase in Evangelisation to £3,588k (2023: 3,423k) while the cost of mission support reduced to £476k (2023: 509k). Investments lost £87k (2023: loss of £477k). We changed investment manager in the first quarter on 2025. OMF UK has a policy of not publidy asking for funds. Although OMF UK does have a fundraising policy, this simply highlights the fact that whilst OMF UK does not engage in standard fundraising practices, it does comply with the Fundraising Regulator's Code of Fundraising Practice. The expenditure on 'Raising Funds. reported in the financial ststements, is an estimate of the proportion of the costs spent on charitable activities. e.g. communicAtions literature, which has an ancillary outcome of contributing to increasing the amount of donations received. In addition to the resources needed to fund the UK and Ireland operation, the Trustees, operating within the principle of sharing, allocate unrestritted income to OMF Intemational in Singapore, for distribution to UK and Ireland members worfdwide who are directly serving the organisation's objects of advancing the Christian faith amongst East Asia's peoples. During the year, £2, 109k (2023: £2,OIOk) was allocated to OMF Intemational. The sum allocated contn'buted towards the overa51 living and ministry costs of those members sent out by OMF UK to work in Asian and other countries outside the UK and Ireland. In 2024, all OMF UK members reiVed at least 100 % of their full support requirement through a combination of speafic support gifts and general dorkitions received. OMF UK prepares an annual budget. The budget for the year was an unrestritted operating defiat of £798k. The operating deficit before investment gains and other exceptional items was an unrestrirted deficit of £471k {2023: deficit of £500k). The improvement was partly due to the trdnsfer from the retirement fund of £395k, covering part the of allowances paid to retired members during the year. The trustees agreed that from l January 2024, 60 % of retiree allowan would be covered by the retirement fund rather than the general fund a5 in previous years. The budget for 2025 is an operational deficit of £247k. Reserves Policy The reserves wlicy is reviewed annually by the Trustees in light of the speafic risks faced by the charity. OMF Intemational UK holds unrestricted general funds (free reserves) for the following reasons: To allow for falls in our donation income as a result of economic circumstsnces or decline in member numbers To allow for any one-off costs, strategic investments and other initiats'ves A legacy ReseNe is held to manage fluctuations in annual legacy income. The amount held as the legacy reserves buffer is calculated annually and is based on the amount that would have been required to top up legacies, received over the worst three consecutive years during the last 10 years, to an average value of legacy income. This curTently gives a maximum legacy reserve figure of £519k. The "Ministry Support ReseNe" allows for the futu annual top-up of members with support under IOOO/o. £1,581k was held in this fund at the year end. The current balan of £472k in General Fund is within the target range for free re*Nes, being equivalent to 3-6 months of operating expendlture which is made up of mission support and administrative support (£262k to £523k). In order to maintain general reseNes, deficits may be reduced by adjusting the level of member allowances paid In the UK and the amount of grants made from general donations to support UK member's ministry budgets. 13
OMF INTERNATIONAL (UK) Trustees, Annual Report For the year ended 31 December 2024 At end of 2024, the total funds held were £15,OOOk (2023: £14,948k) of which £355k (2023: £384k) were restricted funds and £14,645k (2023 £14,565k) were unrestricted funds. It should be noted that of the £14,173k (2023: £14,132k) of designated funds, £6,IOlk (2023: £6,370k) is represented by property assets currently in u by OMF UK and £4,191k (2023: £3,731k) is held with the aim of helping to fund OMF UK'S retired members, allowances. OMF UKS Trustees and Leadership Team continue to review the wtential best strategic uses of the non-property related funds. Note 22 to the financial ststements shows the assets and liabilities attributable to the various funds by type, There are three types: General Fund, designated funds, and restritted funds. Investments shown in the accounts comprise mainly of managed funds and short-temi cash funds. OMF UK has an Investment Committee, which reports to the Trustee Board, to oversee the management of its investments in line with OMF UK s Investsnent Policy. The Trustees have prepared the financial statements on a going concern basis and consider that no disclosures relating to OMF UK'S ability to conts'nue as a going concern need to be made in the finanoal statements. Plans for Future Periods In the context of the demographic shifts in world Christianity OMF UK will conts'nue to challenge the traditional narrative around the purpose of a mission agency. This will mean that instead of askj'ng how many missionaries OMF (UK) is sending to East Asia, we will ask: what is the best way for OMF (UK) to serve East A&'an churches so that they can extend their witness in East Asia and beyond?" Answers to this question will continue to include missionaries being sent to East Asia, but other avenues of services will need to be pursued if OMF is to remain faithful to its calling and relevant for the current context. Therefore, six strategic ministy streams are being prioritized for development over the next 5 years: l. Sending workers to East Asia.. OMF UK remains committed to sending pioneer type missionaries but in light of the maturity of many East Asian churches and the emergenTr of East Asian mission movements, we recognise the need for an increased number of workers who can partner well with existing churches. This includes continuing to send 5UPPOrt workers in various areas. 2. Marketplace ministry: OMF UK is committed to developing innovative pathways for Christians in their 205 and 305 to explore how to share the good news of Jesus across cultures, whatever their profession and wherever their career takes them. OMF UK will create initiatives that inspire workers to see the intrinsic value of work, how their faith integrates Wlth their work in cross-cultural settings. 3. Commitment to creation care: In OMF (UK) the goal is for creation care to be understOCKJ as part of biblical mission and an essential element to OMF'S commitment to integral mission. OMF {UK) has a creation care working group in pla, with strategic goals identified and worked towards, for Instan a partnership with Climate Stewards to enable OMF (UK) Centre member flights to be offset. 4. Investing in equipping and training East Asians for mission in East Asia. This will involve collaborating in projects with OMF Fields in East Asia and with like-minded organisations that are contributing to multiplication ministries and the equipping of East Asian churches for global mission. 5. Increasing opportunities for1Sstening, reciprocity and reverse mission. OMF (UK) is commltted to increasing the opportunities to hear from East Asian churth and mission leaders, and to collaborating with diaspora churches and majority world mission initiatives in the UK and Ireland. This requires the facilitation of good listening and the reciprocity of people, prayer and perspecbves on theology and prattical ministry, also equipping local churches in the UK and Ireland to S that mission Is not only about sending but also indudes retriving and learning from the global Church. 6. Developing integrative ways of working with diaspora ministries - both retumee focused and the wider diaspora ministry that OMF UK is increasingly engaging with. Diaspora Returnee Ministries (DRM) has been a feature of OMF'S work in the UK for many years. A new structure has been agreed to enable the development of diaspora strategy in the UK. A new leadership role is being created to ensure strategic coordinats'on of all OMF {UK)'s diaspora related ministries in the UK and Ireland. 14
The People and Culture Department will continue to provide resources for both members and churches In caring for members through developing the Member Care core team and sourclng new members for the Area Ministry Teams. The Member Care and HR Department wlll continue to provide resour$ for both members and churches in carEng for members through expanding trE Member Care core team and sourclng new members for the Area Mlnlstry Teams. Prayer meetings & events wlll continue to be run in a hybrid manner - both onllne & in person. Over 10 country specific virtual OMF prayer meetings have emerged throughout the pandemlc and are now meeting monthly to pray. Area Representstives are now able and actlve In organising both in-persona and virtual events in their areas. Future plans for the SeNe Asla team, Include exploring how to make short term mission ecologically sustainable for UK Serve Asla workers. The Serve Asla team also plan to make NextGen accessible will contlnue to work with the Communlcatlons departrent to make these events relevant and transformational. Funds Held as Custodian trustee There are none held. Post Balance Sheet Events There have been no significant post balance sheet events. 15
OMF INTERNATIONAL (UK) Trustees, Annual Report For the year ended 31 December 2024 statement of Trustees. Responsibilities The Trustees (who are also directors of OMF Internaonal (UK) for the purposes of company law) are reskKinsible for preparing the Report of the Director5 and the finanaal ststements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting practi). Company law requires the Trustees to prepare financial statements for each finandal year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practi (United Kingdom Accounting Standards and applicable law). Under company law, the Trustees must not approve the finanoal statements unless they are satisfied that they give a true and fair view of the state of affairs of the tharitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to.. select suitsble accounting policies and apply them consistendy observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent stste whether applicable UK Accounb'ng Standards have been follow, subject to any material departures disdosed and explained in the financial statements ppare the financial statements on the going concem basis unless it is inappropriate to presume that the Charity will continue in business The Trustee5 are responsible for keeping adequate accounting records which are sufficient to show and explain OMF UK'S transacbons, which disclose with reasonable accuracy, at any time, the financial p)sition of OMF UK, to enable them to ensure that the finarrial statements comply with the Companies Att 2006, the Charities and Trustee Investment (ScotiarKJ) Att 2005, the Charities Accounts (Scotland) Regulations 2006 and the charity's constitution. They are also responsible for safeguarding the assets of the charitable company and hen for tskj'ng reasonable steps for the prevention and detection of fraud and other irregularities. As far as the Trustees are aware, there is no relevant audit information of which OMF UK'S auditor is unaware and Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomiation and to establish that the auditor is aware of that infomiation. The Trustees are responsible for the maintenance and integrity of the corporate and financial infonatIon included on OMF UK'S webslte. Legislation in the United Kirgdom govemiThJ the preparation and dissemination of finanaal statements may differ from legislation in other jurisdictions. This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. roval In approving the Trustees Annual Report, the Trustees are also approving the Directors Report in their capacity as company directors. Signed on behalf of the Trustees rf. JIL B.A. Roles Trustee 4 September 2025 16
Independent Auditor's Report to the trustees and members of OMF International (UK) For the year ended 31 December 2024 Opinion We have audited the financial statements of OMF InternaOnal (UK) (the 'charitable company? for the year ended 31 December 2024 which comprise the Statement of Flnanaal Activities, the Balance Sheet, the Cashflow Ststement and notes to the flnancial statements, including significant accounting polioes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finanoal Reporting Stsndardapplicable in the UKandRepub/ic oflreland(United Kingdom Generally Accepted Accounting Practi). In our opinion the financial statements.. give a true and fair view of the state of the charitable company s affairs as at 31 December 2024, and of its incoming resources and application of resour, induding its income and expenditure, for the year then ended; have been properly prepared in accordan with United Kingdom Generally Accepted Accounting Practitr; and have been prepared in accordan with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Basis for opinion We conducted our audit in accordan with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor s reswnsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordan with the ethical requirements that are relevant to our audit of the finanaal statements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden we have obtained 15 suffiaent and appropriate to provide a basis for our opinion. Conclusions relating to going conrn In auditing the financial statements, we have concluded that the trustees. use of the going conrn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a periLxI of at least twelve months from when the finanaal statements are authorised for issue. Our responsibilities ar)d the responsibilities of the trustees with respect to going conrn are described in the relevant settions of this report. Other information The other informats'on comprises the infomiation induded in the trustees annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infomiation and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this Other information, we are requlred to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescribed by the Companies Art 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the tnJstees' report (incorporating the directors, report) for the financlal year for which the financial statements are prepared is consistent with the firtancial ststements; and the directors, report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understsnding of the charitable company and its environment obtained in the course of the audit, we have not identified material misststements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Att 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to repN)rt to you if, In our opinion: 17
Independent Auditorfs Report to the trustees and members of OMF Intemational (UK) For the year ended 31 December 2024 adequate accounting records have not been kept, or returns adequate for our audit have not been retrived from branches not visited by us. or the financial statements are not in agreement with the accounting records and retums, or certain disdosures of directors, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the finanaal ststements in accordance with the small companies, reglme and take advantsge of the small companies, exemption in preparing the direttors, pOrt. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 15, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial ststements that are free from material misstatement, whether due to fraud or error. In preparing the finana31 statements, the trustees are responsible for assessing the charitable companys ability to conth'nue as a going COnrn, disclosing, as applicable, matters related to going conTrrn and using the going concern basis of accounting unless the trustees either intend to liquidate the charitsble company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that indudes our opinion. Reasonable assurance is a high level of assuran, but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always detett a material misstatement when it exists. Misstatements CAn arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basi5 of these financial statements. A further description of our responsibilities is availableon the Financial Reporting Council's website at: https:l/www.frc.org.UklOur-WorVAudiVAudit-and-assurance/Stsndards-and4Juidan1Standard5-ad-guldanCe-f0r- i• auditorslAuditors-responsibilities-for-audiVDescription-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditorfs report. Extent to which the audit was considered capable of detecting irregularities, including fraud IegUlaritieS, Irregularities, including fraud, are instan5 of non-complianTr with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misststements in respect of irregularities, including fraud. We obtain and update our understanding of the entity, its acb'vities, its control environment, and likely future developments, induding in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures respN)nsive to those risks, and obtain audit eviden that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that We contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-complian with laws and regulations, including fraud, we designed procedures which included: Enquiry of management and those charged with governance around attual and potential litigation and claims as well as actual, suspected and alleged fraud. Reviewing minLrtes of meetings of those charged with govemance. 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 inspection; Reviewing financial statement disclosures and testing to supporting documentation to assess Complian with applicable laws and regulations; Performing audit work over the risk of management bias and override of controls, induding testlng of Journal entries and other adjustments for appropriateness, evaluats'ng the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. 18
Independent Auditor's Report to the trustees and members of OMF International (UK) For the year ended 31 December 2024 Because of the inherent limitations of an audlt, there Is a risk that we will not detect all irregularities, including those leading to a material misststement in the financial statements or non<0mplian with regulation. This risk increases the more that compliantr with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of Instan of noncompliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Use of our report This report is made solely to the charitsble company's members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charitie5 Accounts (Scotland) Regulations 2006. Our audit work has b&n undertaken so that we might stste to the tharitsble company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable companws members as a body, for our audit work, for this report, or for the opinions we have formed. John Howard (Senior Statutory Auditor) For and on behalf of Azets Audit Services Chartered Accountants Statutory Auditor 2nd Floor Regi5 House 45 King William Street London United Kingdom EC4R 9AN 19
OMF IMfERNATIONAL (UK) ststement of FInala1 Activities for the year ended 31 December 2024 2024 Unrestrlrted Rtricted Total Unrestri¢tsd Restrirted Funds Funds Funds Funds Fund$ £OOOs £OOOs £OI>Os £OOOs 2023 Total Funds £OOOs £OOOs Income from: Donations: Support gifts General donations Projert Funds UK Project Funds overseas Legacies UK Legacies for Overseas Other Trading Activities Publications income Rental income Investment income: 4,306 503 4,306 503 28 296 661 4,287 486 4,287 28 296 14 289 14 289 746 661 746 15 39 15 39 14 14 Interest re1vable 202 202 32 32 Total Income 5,726 324 6,050 5,609 303 5,912 Expenditure on: Raising funds Charitable activities Mobilisation Evangelisation Mission Support 1,167 3,262 474 22 326 1,189 3,588 476 1,164 3,105 506 21 318 1,185 3,423 509 Administration Support 571 571 572 572 Education and Information Retirement 58 658 58 658 56 699 56 699 io Total Expenditure 6,197 350 6,547 6,109 342 6,451 Operational surplus l (deficit) (471) (26) (497) (500) (39) (539) Provision for historic legal costs Gains {L055es) revaluab'on of fixed assets Net Gainsl(Losses} on investments 838 (202) (85} 838 (202) (87) (1,140) 968 (468) (1,140) 968 (477) (2) (9) Surplus l Deficit after unrealised losses 80 (28) 52 {1,140) (48) (1,188) Transfers between funds 124> 24 (o) Net movement in funds 80 (28) 52 (1,164) (24) (1,188) Reconciliation of funds: Total funds brought forward 14,565 383 14,948 15,729 407 16,136 Total funds carrfed foThvard 19- 22 14,645 355 15,000 14,565 383 14,948 All amounts relate to continuing activitie5. The notes on pages 23 to 37 fomi part of these financial ststements. 20
OMF INTERNATIONAL (UK) Balance Sheet as at 31 December 2024 Note 2024 £ OOOS 2023 £ OOOS Fixed Assets Tangible Fixed Assets- Properties Tangible Fixed Assets- Other Fixed Assets Investments- Managed Fixed Assets Investments- Unlisted 12 12 13 13 6,102 18 6,604 33 12,757 6,370 28 6,691 33 13,122 Current Assets Investment propety held for re-sale Stock Debtors Cash at bank and in hand 15 37 16 538 2.870 3N61 37 12 824 3,190 4,063 16 Creditors: amounts falling due within one year Provision for historic legal costs Net Current Assets 17 (982) (1,097) 18 (236) (1,140) 2,243 1,826 Total Net Assets 20 -24 15,000 14,948 Funds: Unrestricted - General Fund 472 432 Designated Property Fund Rets'rement Fund Homeside Fund Buffer reserve Legacy Reserve Ministry Support ReseNe Home Assignment Ministry Fund Reverse Mission Training & Equipping of East Asians Diaspora Related Collaborative & Ministry Projects Other Designated Funds (< £200k) Total Unrestrirted Funds 6,101 4,191 397 519 1,581 279 250 6,370 3,731 517 528 1,660 248 250 200 200 655 629 19-22 14,645 14,565 Restrirted Funds 19-22 355 383 Total Funds 19-22 15,000 14,948 These financial statements have been prepared in accordan with the special provisions for small companies under part 15 of the Companies Act 2006. Approved and authorised by the Trustees for issue on 4 September 2025 and signed on their behalf by.. B.A. Roles Trustee The notes on pages 23 to 37 form part of these financlal statements. 21
OMF INTERNATIONAL (UK) Cashflow Statement for the year ended 31 December 2024 Total funds Prior Year funds £ OOOS £ OOOS Cash flows from operating activities: Net Cash used in operating attivities (519) 533 Cash flows from investlng activitie5: Interest from investments Purchase of property, plant and equipment 203 (4) 32 (15) Net cash provided (used in)Iby investing artivities 199 17 Change in cash and cash equivalents in the reporting period (320) 550 Cash and cash equivalents at the beginning of the repongpenOd 3,190 2,640 Cash and cash equivalents at the end of the reportingperiod 870 3,190 Reconaliation of net (expenditure)lincome to net cash flow from operating activities) Current Year £ OOOS Prior Year £ OOOS Net income for the reportin9 penod (asper the statement of finanaalartiwties 16 (1,188) Depreciation Interest from investments Increase/(Decrease) in creditors (Decrease) / Increase in Provision for legal costs (Increase)/Decrease in debtors (Increase) l Decrease in stock Less Gains on revaluation of property Add Loss on investments Gainlloss on disposal of Fixed Assets 81 (203) (115) (904) 319 (3) 203 87 138 (32) 627 1,140 338 (968) 477 Net (used in)Iprovided by operating activities (519) 533 22
OMF INTERNATIONAL (UK) Notes to the financial statements For the year ended 31 December 2024 ststus and general information OMF International (UK) is a company Ilmited by guarantee incorporated in the United Kingdom and a registered charitable company (company number 6541911, England and Wales registered charity number 1123973, Scottish registered tharity number SC039645 and Republic of Ireland charity number 20200671). It is governed by its Memorandum and Articles and its registered offitr is Station Approach, Borough Green, Kent TN15 8BG. Refer to the Trustee's Annual Report (page 6) for a full description of the organisation's objectivities and activities. The finanaal statements are presented in Thousands of Pounds Sterling (£OOOs), the Companls functional currency and rounded to the nearest thousand pound. Accounting policies a) Basis of accounting and assessment of going concern The finanaal ststements are prepared on the historical cost basis of accounting, with items recognised at cost or transaction value unless otherwise stated in these accounting policies, in compliance with the Companies Act 2006, the Charities Att 2011 and in accordan with applicable accounts'ng standards and the Charities SORP (FRS102) Accounb'ng 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) (effecknve l January 2019). OMF International (UK) is a public benefit entity as defined by FRSIO2. The TStS are of the opinion that given the surplus for the period and the high value of net assets, the charitable company can continue in operation for the foreseeable future and therefore the financial statements have b&n prepared on a going concern basis. b) Fixed assets and impairments Tangible fixed assets, expt land and buildings, are stated at cost less depreciation. Assets are reviewed for indications of impairment at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds the recoverable amount, an impaimient loss is recognised in the statement of financial activities. Land and buildings are carried at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materiality from that which would be determined using fair value at the Statement of Financial Position date. Fair values are detemiined from market-based evidence undertaken by professional qualified valuers. Revaluation gains and losses are recognised in the Statement of Tr'nancial Activities. c) Depreciation of tangible fixed assets Tangible fixed assets are depreaated over their expected u*ful life on the following straight-line bases: Land Buildings Motor vehides Computer equipment Fixtures, fittings and office equipment 0% 2% 25% 33.33% 25% 23
OMF INTERNATIONAL (UK) Notes to the financial 5tstements For the year ended 31 December 2024 d) Fixed asset investments Investments are a fomi of basic financial instrument and are initially recognlsed at their transaction value and subsequently measured at their fair value as at the balan sheet date using the quoted market price. The Ststement of Financial Activities indudes the net gains and losses arising on revaluation and diswsals throughout the year. The charity does not acquirei Put options, derfvatives or other complex financial instruments. All gains and losses are taken to the Ststement of Financial Activitles as they arise. Realised galns and losses on investsnents are calculated as the difference ben sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the differen between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. e) Investment property Investment propety is included on the balan sheet at market value at the balance sheet date. The valuation is the result of calculations made by surveyors, at the time of receipt of the assets, on the basis of the premiums payable if the lessee wished to extend their lease. Where the lessee has now extended their lease, the valuation induded is now the differen beleen the surveyor's peppercorn rent based premium valuation and the ground rent based premium valuation. Realised and unrealised gains and losses on investment property are included in the Statement of Financial Activities in the year in which they arise. fj stock The stock of the publications department is stated at the lower of cost and net realisable value. Provision is made for slow moving and obsolete stock. g) Income recognition Income from donations is accounted for on a reIpts basis, and the related Gift Aid is usually reiVed and accounted for in the month following the month of the original donation, Legacies are accounted for when reiVed or when receipt is probable and the value can be measured with suffioent reliability. Where legacies notified to OMF International (UK) by the end of the relevant accounting period do not meet the above criteria, the total estimated value of such legacies will be disclosed in a rte to the financial statements. Publications income is accounted for on a retripts basis. Income other than mentioned above is dealt with on an accruals basis. h) Expenditure recognition Charitable expenditure comprises Sery1 supplied and activities undertaken which are identifiable wholly or mainly in support of OMF International (UK)'s objectives. Those costs shown as management and administration relate to the management of OMF International (UK)'s assets, organlsational administration and Complian with constitutional and statutory requirements. Where appropriate, expenditure is apportioned on a reasonable and consistent basis to other costs within mobilisation and evangelisation expenditu. The underfying principle upon whlch cost apportionment Is based is staff time. 24
OMF IKfERNATIONAL (UK) Notes to the financial statements For the year ended 31 December 2024 h) Pension scheme OMF International (UK) operates a defined contribution pension scheme for staff. The assets of the scheme are held separately from that of OMF Internab'onal (UK) in an independently administered fund. The pension costs charged represent the contributions payable under the scheme by the OMF Intemational (UK) to the fund. OMF International (UK) has no liability under the scheme other than for the payment of these contributions. S) Funds General funds are unrestritted funds which are available for use at the discretion of the Trusts in furtherance of the general objectives of OMF International (UK) and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors. The aim and use of each restricted fund is set out in the notes to the finanoal ststements. j) Financial instruments Financial instruments are dassified as either 'basic' or 'other' in accordance with Chapter I l of FRS 102 and are recognised on the charity's balance sheet when it becomes party to the contractual provisions of the instrument. Financial instruments are initially measured at transaction price, unless the arrangement constitutes a financing transattion, which includes transaction costs for financial instruments not subsequendy measured at fair value. A financing transaction is rneasur at the present value of the future payments discounted at a market rate of interest for a Similar debt instrument. The only financial instruments held by charity are debtors, creditors, loans and investments. These are basic financial instnjments and are therefore recognised at the transattion pri less any impaimient. k) Funds significant judgements and estimates The preparation of the financial statements requires the Trustees to make estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities at the date of the financial statements. If in the future such estimates and assumptions, whid) are based on the Trustees, best judgement at the date of the financial statements, deviate from the actual arcumstan5, the original estimates and assumpts'ons will be modified as appropriate in the year in which the cirCumstanS change. The Trustees consider the following to be the main sources of estimation Unrtainty. Income recognition of legacies - legaaes have been reccrfJnised when receipt Is probable and on a case-by-case ba515 on the value can be measured reliably, rather than adopting using a portfolio basis based on past experien. Land and buildings - As set out in note 12, the land and buildings were valued in December 2023 by external valuers registered with the Royal Insts'tute of Chartered SuNeyors (RICS). The Offi building has bn impaired based on an estimate by a IoGal estate agent in June 2025. The valuaUon used relied upon assumptions and information provided by management. If the assumptions and information differ notably from expeC(ations, the fair value of the properties could require a significant adjustment in future periods. 25
OMF INTERNATIONAL (UK Notes to the financial statements For the year ended 31 December 2024 3 Connected parties OMF International (UK) co-operates with other Christian agencies in the pursuit of its mission. OMF International (UK) reiVed £3,860 in donations from trustees durlng the year (2023: £1,145). None of the Trustee5 e1ve any remuneration in their capacity as trustees, although all reiVed refreshments at trustees, m&tings provided by OMF International (UK). 7 trustees reiVed travel expense payments durlng the year (2023.5). The total expenses relating to trustees paid in the year were £1,816 (2023: £3,135). 4 Cost of raising funds The cost of raising funds recognises the promotional aspect contained within education and infomiation expenditure. Cost of generating funds was £7k (2023., £7k). 5 Mobilisation Expenditure Unrestricted Restricted Funts Funds TOTAL 2024 Unrestrirted Restricted Funds Funds TOTAL 2023 £ OOOS 177 492 14 97 £ OOOS £ 0005 177 492 14 97 £ OOOS 174 470 26 81 £ OOOS £ OOOS 174 470 26 81 Stsff salaries (note 11) Member Allowance payments Member Expense payments Member Pension, Nl & Tax Home Assignment Allowan5 & Expenses Literature & Information other Costs Serve Asia Teams 278 278 287 287 46 63 46 85 22 82 21 103 1,167 22 1,189 1,164 21 1,185 Mobilisation expenditure comprises the allocated functional costs arising from the process of encouraging people to partFcipate in world mission. 6 Evangelisation Expenditure Unrestrirted Restrirted Funds Funds TOTAL 2024 Unrestricted Restsirted Funds Funds TOTAL 2023 £ OOOS £ OOOS £ OOOS £ OOOS £ OOOS £ OOOS 26 Staff salaries (note 11) 26 Overseas allocation to OMF International (Singapore) 1,813 296 2,109 1,721 2,010 Member Allowance payments Member ExnSe payments Member Pension, NI & Tax Serve Asla Teams 618 618 659 659 821 821 689 689 other costs (3) 30 27 29 37 3,262 326 3,588 3,105 318 3,423 Evangelisation expenditure comprises the allocated functional costs arising from the process of sharing the gospel with East Asians. The amounts shown as restricted funds represent payments made to speofic overseas projetts. 26
OMF INfERNATIONAL (UK Notes to the financial ststements For the year ended 31 Dember 2024 7 Mission Support Unrestrirted Funds Restrirted TOTAL Funds 2024 Unrestrlcted Restricted TOTAL Funds Funds 2023 £ OOOS 129 187 £ OOOS £ OOOS 129 187 £ OOOS 113 214 14 32 £ 0005 £ OOOS 113 214 14 32 Staff salaries (note 11) Member Allowance payments Member EXnSe payments Member Pension, NI & Tax Home Assignment Allowances & Expenses 39 39 31 31 32 32 Other costs 81 ioi 104 474 476 506 509 Mission Support expenditure comprises the allocated functional costs arising from the prOs5 of providing mission specific support i.e. pro551ng candidates and pastoral care to personnel engaged in Mobilisation and Evangelisation. 8 Administration Support Unrestrirted Funds £ OOOS 220 16 Restricted Funds £ OOOS TOTAL 2024 £ OOOS 220 16 Unrestrirted Restricted TOTAL Funds Funds 2023 £ OOOS £ OOOS 199 20 £ OOOS 199 20 Staff salaries (note 11) Member Allowance payments Member Ex[nSe payments Member Pension, NI & Tax Information Technolojy Excepb"onal Costs Other costs io 40 io 36 36 283 571 283 571 301 572 301 572 Administrative support expenditure comprises the allocated funttional costs arising from the standard organisational administrative processes e.g. , HR, facilities management and finan pro551ng required to support the organisation. Governan Costs Induded in the above administration support are govemance costs associated with fulfilling statutory obligations and providing strategic direction to OMF Intemational (UK). 2024 £OOOs 15 2023 £OOOs 13 Staff costs Trustee Expenses Auditors, fees for audlt Other costs 21 20 58 19 24 59 27
OMF INTERNATIONAL (UK) Notes to the financial statements For the year ended 31 December 2024 9 Education and Information Expendlture Unrestrlrted Funds Restrfrted Funds TOTAL 2024 Unrestricted Restrirted TOTAL Funds Funds 2023 £ OOOS £ OOOS £ OOOS io £ OOOS 12 £ OOOS £ OOOS 12 Lrterature and information Books and Conferen5 Stsff salaries (note I l) io 47 47 43 56 43 56 Education and infomation expenditure comprises the costs of producing the magazine "Billions" books, conferentrs and prayer resources. 10 Retirement Expenditure UnStrIrted Funds Restricted Funds TOTAL 2024 Vnrestrirted Restricted TOTAL Funds Funds 2023 £ OOOS £ OOOS £ OOOS £ OOOS £ OOOS £ OOOS Retired member allowan payments Member Allowance payments Member Expense payments stsff salaries (note I l) Other costs 650 690 690 650 658 658 699 699 11 staff costs 2024 £ OOOS 497 47 41 585 2023 £ OOOS 488 39 32 559 Wages & salaries Social security costs Pension contributions Staff costs analysed by function: Note 5 Mobilisation Expenditure Note 6 Evangelisation Expenditure Note 7 Mission Support Note 8 Administration Support Note 9 Education and Information Expenditure Note 10 Retirement costs 177 174 26 113 199 129 220 47 43 585 559 One employee earned £60,000 or more in the year (2023.. none) with a salary (excluding employer pension contributions) of £74,200. The average number of employees was 15 (2023: 18). Key management personnel comprise trustees, who are unpaid, 8 senior managers (including the National Direciors), of which 5 individuals were supported members and 3 were employees. The total benefits received by key management personnel, Including pension contiibutions, In the year was £366,120 (2023: £400,032). 28
OMF INTERNATIONAL (UK) Notes to the financial statements For the year ended 31 December 2024 12 Fixed Assets Land and Computer Buildings equipment £ OOOS £ OOOS 6,370 159 Fixtures and Motor Fittings Vehicles £ OOOS £ OOOS 116 15 Office equlpment £ OOOS 67 Totsl £ OOOS 6,727 Cost or valuation at l January 2024 Additions Revaluation Disposals at 31 December 2024 (225) {225} (3) 6,503 (3) 12 6,145 161 69 116 Accumulated depreciation at l January 2024 Charge for the year Released on revaluation Released on disposa15 at 31 December 2024 (144) (8) (62) (2) (112) (2) (li) (2) {329) (79) 22 (65) 22 (43) (152) (64) (114) (io) (383) Net book value at l January 2024 6,370 15 6,398 at 31 December 2024 6,102 6,120 The land and buildings were valued at £6,370k in December 2023 by external valuers, Roger Hannah, in accordan with the appropriate sections of the Royal Institution of Chartered Surveyors (RICS) Valuation - Global Standards 2022 and International Valuats'on Standards (IVS). 29
OMF INTERNATIONAL (UK) Notss to the financial ststements For the year ended 31 December 2024 13 Flxed Asset Investments Managed Investments 2024 £ OOOS 2023 £ OOOS Market Value at l January Additions Disp)sals Unrealised investment gainsl (losses) 6,691 7,168 (87) (477) Market Value at 31 December 6,604 6,691 The managed invesknents are held with the investment manager CCLI and represented by a segregated portfollo predominantly invested directly In conventlonal assets, such as equities, bonds, commcrfjities and currencies. Unllsted Investments 2024 £ OOOS 2023 £ OOOS Value at l January and 31 Dember 33 33 Market Value )t 31 December 33 33 Durlng 2017, shares in an unlisted company were recelved as part of a legacy. The Sha have been valued at falr value. 14 Capital commltments No capitsl expenditure was contracted for or committed at 31 Dernber 2024 (2023: NII). 30
OMF INTERNATIONAL (UK) Notes to the financial statements For the year ended 31 December 2024 15 Current Asset investments 2024 £ OOOS 2023 £ OOQS Value at l January and 31 December 37 37 Market Value at 31 December 37 37 16 Debtors 2024 £ OOOS 2023 £ OOOS Trade debtors Other debtors Prepayments Accrued income - Legacies Accrued Income - Gift Aid 38 62 401 35 29 54 713 28 538 824 17 Creditors: amounts falling due wlthln one year 2024 £ OOOS 93 330 20 386 153 2023 £ OOOS 105 290 20 522 160 Trade Credltors Sundry creditors Accruals - general OMF International (Singapore) Deferred income 982 1,097 Reconciliation of Deferrnd Income Amount deferred at 1 January 160 205 Amounts deferred in year Amounts received - from prior years 26 (33) 27 (72) Deferred income at 31 December 153 160 31
OMF INTERNATIONAL (UK) Notes to the financial ststements For the year ended 31 December 2024 17 Creditors (contlnued) Deferred income relates to donations given by supporters with the express intention for those donations to be used by OMF International (UK) in future accounting periods. The Trustees are satisfied that no provision should be made in the accounts in relation to future amounts which may be paid to retired members, as they do not believe there is any commitment to make such payments. They are only made at the discretion of OMF International (UK), and as income pemiits. 18 Provision 2024 OOOS 2023 £ OOOS Provision brought fomard at 1 January Legal fees in 2024 Adjustment to provision in year 1,140 (66) {838) 1,140 236 1,140 The provision relates to claims against OMF International (UK) in relation to alleged hami caused to fomier Chefoo school pupils. 19 Financial instruments The charity's financial instruments may be analysed as follows.. 2024 £ OOOS 3,346 6,604 33 2023 £ OOOS 3,960 6,691 33 Financial Assets Financial Assets at amortised cost Financial Assets at market value Financial Assets at fair value Financial Liabilities Financial 'abIlItieS at amortised cost 736 832 Financial assets measured at amortised cost comprise cash at bank and in hand, trade debts, other debtors, and accrued income. Accrued income from legacies contributed £401k (2023,. 713k) Fixed as*t investments at fair value comprise shares in a private limited company retrived as part of a legacy during 2017. Financial liabilities measured at amortised cost comprise sundry creditors, accruals (including exceptional legal case accruals), tsxation and social security and amounts due to OMF Intemational (Singapore), 32
OMF INTERNATIONAL (UK) Notes to the financlal statements For the year ended 31 December 2024 20 Funds Balance 0110112024 £ OOOS Income Expenditure Investment gainslllosses) £ OOOS Transfers Balance 3111212024 £ OOOS £ OOOS £ OOOS £ OOOS General Fund 432 4,191 (3,815) (36) (300) 472 Designated Funds: Property Fund Retirement Fund Homeside Fund Buffer Re5etve Legacy Resetve Ministry Support ReseNe Reverse Mission Training & Equipping of East Asians Diaspora Related CollaLN)rdtive & Ministry Projects Joining Members Fund Home Assignment Ministry Fund UK Ministry Funds Creation Care Fund Philip Henman Fund Marketplace Ministry Fund stening to &ist Asian Church Voi 6,370 3,731 {203) (66) 6,101 4,191 (48) 508 517 (120) (9) (79) 397 528 1,660 519 1,581 250 250 200 200 176 21 (34) {308) {2,122) 163 248 339 279 247 31 40 76 2,082 207 31 32 170 {7) (16) (i) iio 15 15 Other Miscellaneous Funds {<£20k) 27 (34) 37 Total Designated funds 14,133 2,376 (2,587) (49) 300 14,173 Totsl Unrestrirted Funds 14,565 6,567 (6002) (85) 14,645 Restricted Funds Holland Legacy Fund Hong Kong Welcome Project Fund Chapman Legacy Medical Missionaries Fund Leah Evans Bequest other Miscellaneous Funds {<£7k) (5) (14) 17 67 39 106 (8) (19) 59 20 105 (i) 46 26 (7) 65 283 26 {53) (i) 255 other Overseas funds loo 296 {296) loo Total Restrirted Funds 383 322 (349) (i) 355 Totsl Funds 14,948 6,889 (6,751) {86) 15,000 33
OMF IKfERNATIONAL (UK) Notes to the financial statements For the year ended 31 December 2024 21 Prlor Year Funds Balance 0110112023 £ OOOS Income Expendlture Investment galnsl(losses) £ OOOS Transfera Balance 3111212023 £ OOOS £ OOOS £ 0005 £ OOOS General Fund 3,059 2,988 (4,299) (199} (1,117) 432 Designated Funds: prOty Fund Retirement Fund Homeside Fund Buffer Reserve Legacy Reserve Ministsy Support Reserve Reverse Mission Training & Equipping of East Asians Diaspora Related Collaborative & Ministy Projects Joining Members Fund Home Assignment Ministry Fund UK Ministry Funds Creation Care Fund Philip Henman Fund MarketFAace Ministry Fund Listening to East Asian Church Vol5 5,840 3,997 556 618 968 {438) 6,370 3,731 517 528 1,660 (266) (39) {90) 1,660 250 250 200 200 iii 523 325 31 36 140 75 258 2,220 (io) (533) (2,298) 176 248 247 31 40 76 io (3) (68) (3) 15 15 Other Miscellaneous Funds (<£20k) 28 54 38 Totsl Designated funds 12,670 3,589 2.950 269 1,093 14,133 Total Unrestrirted Funds 15,729 6,577 7,249 468 24 14,565 Restrirted Funds Holland Legacy Fund Hong Kong Welcome Projert Fund Chapman LegaLry Medical Missionanes Fund Leah Evans Bequest Other MIslIaneOuS Funds (<£7k) 39 (31) 17 17 74 41 113 23 307 (7) 67 39 106 (2) (7) 14 14 15 153) 24 24 {9) 283 Other Overseas funds 100 289 289 100 Totsl Restrirted Funds 407 303 342 24 383 Total Funds 16.136 6,880 7,591 477 14,948 34
OMF INTERNATIONAL (UK) Notes to the financial statements For the year ended 31 December 2024 Note 21 Funds (continued) Designated Funds The Property Fund represents the value of the propertles owned by OMF Intemational (UK). See the fixed asset note 12 for more detail. The Retirement Fund has been set up to help fund OMF Intemational {UK)'s ongoing retirement provision. The HSF Buffer reserve has been set up to help offset some of the costs of the UK and Ireland operation, which would otherwise result in increased amounts being passed on to member support budgets during the cuent peri1 of declining member numbers. this amount was calculated as being the amount necessary to provide buffering over a five-year period during which the UK and Ireland operation is reviewed. The purpose of the Legacy Reserve is to smooth the impact of unusually high or low legacy income during a particular year. The Ministry Support Reserve contributes towards the topping up of under-supported members. For example, if OMF International (UK) receives support for a member of 85 % of their annual budget, it may top up the remaining 15 % from this designated fund. The Reverse Mission Training & Equipping of East Asians Fund has been created as part of OMF International (UK)'s strategic plan approved by the trustees in 2021. The Diaspora Related Collaborative & Ministry Projetts Fund has been created as part of OMF International (UK)'s strategic plan approved by the trustees in 2021. The Joining Members Fund is for funds designated for the support of candidates in the joining prosS. Home Assignment Ministry Fund has been established primarily for the provision of members, home assignment allowances, as well as MIslIaneoUS other member expenses. UK Ministry Fund was created for the provision of member alloWanS and ministry expenses for those members permanently based in the UK. The Creation Care Fund was created to assist with ongoing projett work to reduce OMF International (UK) s impact on the environment. Philip Henman Fund is a fund designated for general purposes. The marketpla Ministry Fund has tEen created as part of OMF Intemational (UK) s ongoir@ strategic vision for engagement. The Listening to East Asian Church Voices Fund has been created as part of OMF International (UK) s strategic plan approved by the trustees in 2021. other miscellaneous funds comprise a number of several funds with an individual fund balan of less than £20k u*d for work in the UK. Restrlcted Funds The Holland legacy fund is used for OMF Intemational (UK)'s work in China. The Hong Kong Welcome Projett is a fund created to partner with other organisations to assist in welcoming those from Hong Kong to the UK. The Chapman Legacy fund is to be used to give support to the children of mlssionaries in whatever way it is needed, including the provision of holidays and the travel costs of bringing chlldren and parents together in one pla. 35
OMF INTERNATIONAL (UK) Notes to the financial statements For the year ended 31 December 2024 Note 21 Funds (continued) The Medical Misslonaries Fund was established in 1974 to support medical missionary work In China and the other countries of East Asia, The objective of Leah Evans Bequest fund is to assist with the accommc¥Jatlon costs of active rVI members and retired members of OMF Intemational (UK). Other miscellaneous funds compri a number of several funds with an individual fund balan of less than £IOk used for work in the UK. 22 Analysis of net assets between Funds Restricted Funds £ OOOS Designated funds £ OOOS General Funds £ OOOS Total 2024 £ OOOS Tangible Fixed Assets Fixed Asset Investments - Managed Fixed Asset Investments - Unlisted Current Asset Propety Investments other Current Assets Current Liabilities Provi%on for historic legal costs 6,102 4,222 18 2,258 33 6,120 6,604 33 37 124 37 194 3,849 (619) (982) (236) 3,424 (982) (236) Total 355 14,173 472 15,000 23 Prior Year Analysis of net assets between Funds Restricted Designated Funds funds £ OOOS £ OOOS General Funds £ OOOS Total 2023 £ OOOS Tangible Fixed As*ts Fixed Asset Investments - Managed Fixed Asset Investments - Unlisted Current Asset Property Investments Current Assets Current Liabilities 6,370 3,771 28 2,775 33 6,398 6,691 33 37 4,026 (1,097) 145 37 201 3,992 (167) (1,097) (1,140) Provision for historic legal costs Total {1,140} 383 14,133 432 14,948 36
OMF INTERNATIONAL (UK) Notes to the financial statements For the year ended 31 December 2024 24 Taxation OMF Intemational (UK) is a reglstered charitsble company and therefore Is not Ilable to Income tsx or corporatlon tsx on Income or gains derfved from its charitsble activities, as they fall wlthin the various exemptions avallable to registered charities. 25 Liability of members OMF International (UK) is constituted as a company limited by guarantee and has no Sha capital. The Ilability of the members of the company, who are also the trustees of OMF International (UK), In the event of the company being wound up is limited to a sum not exceeding £1 each. There were 10 members of the company at 31 December 2024 (2023: 9). 37