Friends of Johannesburg Bible College Charity Number 1136631 ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 FRIENDS OF JOHANNESBURG BIBLE COLLEGE CHARITY NUMBER- 1136631 Financial Statements For the year ended 31 December 2023 Contents Page MEMBERS OF THE BOARD AND ADVISORS TRUSTEES, ANNUAL REPORT INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET STATEMENT OF CASH FLOW NOTES TO THE FINANCIAL STATEMENTS FRIENDS OF JOHANNESBURG BIBLE COLLEGE CHARifi NUMBER- 1136631 Charity Infonnation Trustees Stephen Lilley (Chairman) David Mulligan Richard Lawren Ken Pearson Stephen Rigby Registered address Brambledown 8 Valley Way Ge￿ardS Cross Bucks SL9 7PN Bankers National Westminster Bank plc Independent examiner Heath Drewett, ACA FRIENDS OF JOHANNESBURG BIBLE COLLEGE CHARITY NUMBER- 1136631 Trustees. Annual Report For the year ended 31 December 2023 The trustees have pleasure in presenting their report and the financial statements of the charity for year ended 31 December 2023. Legal Status, Aims and Purposes The Friends of JBC is an independent charity registered in the UK to advance education in South Africa in accordance with Christian principles and, in particular, to support the work of Johannesburg Bible College (JBC). JBC runs courses in handling God's word and connecting it to South African society. It delivers courses in a number of locations in and around Johannesburg: Auckland Park, Soweto and recently in Alexandra Township. The course is now recognised as a professional qualification, accredited by the South African government. JBC is an interdenominational college offering a year-long combination course of study and practical ser4ice to equip men and women for Bible teaching ministry. JBC also hosts the Train the Trainers Conferen￿ welcoming delegates from across Africa. Review of Objectives, Activities and Achievements The objectives for the year were to grow the base of donors to the charity, to continue regular funding of the work of JBC and to raise funding for an extension to the site at Auckland Park. These objectives were achieved. During 2023, a number of grants were made to JBC to fund student bursaries to support their tuition fees and, in some cases, the costs of transport to college as well as grants being made to help fund college staffing. It is expected that further donations will be received during 2024, in particular to fund the work of JBC in the Alexandra Township. The charity continues to make financial payments to support JBC and its work. Public benefit The trustees have considered the Charity Commission's guidance on public benefit and, in particular. the specific guidance on charities for the advancement of religion, when reviewing the charity's aims and objectives for the year The trustees have, in their view, met the public benefit requirement through the charity's grant making and fund-raising activities during the year In particular, the funding of bursaries for students at JBC, equipping students to be leaders in their Christian settings and funding the new extension to the Auckland Park site has helped to improve access to educational courses where previously opportunities may not have existed. Currently, around 400 students a year receive bursaries for fees or for travel expenses to allow them to study at JBC. The college sites at Auckland Park, Soweto and Alexandra Township also provide a Gommunity facility for other local organisations. FRIENDS OF JOHANNESBURG BIBLE COLLEGE CHARITY NUMBER- 1136631 Statement of Trustees. Responsibilities Charity legislation requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit for that period. In preparing the financial statements, suitable accounting policies have been adopted and consistently applied to the best of the trustees, knowledge and belief by referen￿ to reasonable and prudent judgements and estimates. Applicable accounting standards have been followed. The trustees are responsible for maintaining adequate accounting records, for safeguarding the assets of the charity and for preventing and detecting fraud and other irregularities. The trustees are also required to indicate where the financial statements are prepared other than on the basis that the charity is a going concem. Financial Review The results for the year and the chaiity's financial position at 31 December 2023 are shown in the attached financial statements. Total income for the year was £526,679 (2022.. £426,014), the increase resulted from an uplift in significant gifts from other Christian charities and private individuals received during the year Total resources expended were £407,064 (2022: £471,855), to fund JBC'S operating costs and student bursaries. Reserves Reserves as at 31 De￿mber 2023 totalled £385,048 (2022: £265,433) and represent funds held on a temporary basis before being expended on the charity's objectives. £5,875 of these reserves were restricted at the year*nd (2022: £nil). Structure, Governance and Trustees The charity is govemed by a trust deed dated 3 February 2010 and is constituted as trustees incorporated as a body. Trustees are recruited on the basis of their skills to help further the purposes of the charity. They are appointed by resolution of a majority of the trustees and after declaring their belief and allegian￿ to the charity's Statement of Beliefs. The trustees who served the charity during the year were as follows: Stephen Lilley (Chairman) David Mulligan Richard Lawrence Ken Pearson (resigned 18 January 2024) Stephen Rigby FRIENDS OF JOHANNESBURG BIBLE COLLEGE CHARITY NUMBER- 1136631 Independent Examinerfs Report to the Trustses Friends of Johannesburg Blble College I report on the financial statements, together with the accompanying notes, of the charity for the year ended 31 December 2023, which are set out on pages 5 to 9. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the financial statements. The charity's trustees consider that an audit is not required for this period (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed. It is my responsibility to: examine the financial statements (under section 145 of the 2011 Act); to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act). and to state whether particular matters have come to my attention. Basis of independent examinerfs report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do rK>t provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial ststements. Independent examinerfs statement In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial ststements to be reached. Heath Drewett, ACA Cadsden House Cadsden Road Cadsden Princes Risborough, Bucks, HP27 ONB Ll September 2024 FRIENDS OF JOHANNESBURG BIBLE COLLEGE CHARITY NUMBER- 1136631 Statement of financial activities Year ended 31 December 2023 2023 Restrided 2022 Totsl Notes Unrestricted Total Incoming resources Donations Gift Aid donations Interest received Total incoming resources 413,378 92,364 452 506,554 20,125 433,863 92,364 452 526,679 270,662 155,243 109 426,014 Resources expended Administration costs Expenditure on charitable activities - grants to JBC Total resources expended 80 392,734 80 406,984 59 471,796 14,250 392,814 14,250 407,064 471,855 Net incomingl(outgoing) resources 113,740 5,875 119,615 (45,841) Balances brought forward 265,433 265,433 311,274 Balances carried forward 379,173 5,875 385,048 265,433 FRIENDS OF JOHANNESBURG BIBLE COLLEGE CHARITh NUMBER- 1136631 Balance Sheet As at 31 December 2023 Notes 2023 2022 Current assets Debtors Cash at bank and in hand 10,254 374,794 174 265.259 Current liabilities Creditors amounts falling due within one year Net assets 385,048 265,433 Funds Restricted income Unrestricted 5,875 379,173 385,048 265,433 265,433 These financial statements were approved by the trustees on the 24 September 2024 and signed on their behalf by: Stephen Lilley Chairman David Mulligan Trustee FRIENDS OF JOHANNESBURG BIBLE COLLEGE CHARITY NUMBER- 1136631 Statement of cash flow Year ended 31 December 2023 2023 2022 Net cash inflowl{oufflow) Incomingl(outgoing) resources 119,291 (45,950) (Increase)Idecrease in debtors 10,080 109,211 38.366 (7,584) Investing activities Interest income 324 109 Increasel(decrease) in cash in the year 109.535 7,475 Cash at bank and in hand at the start of the year Increasel(decrease) in cash in the year Cash at bank and in hand at the end of the year 265.259 109,535 374,794 272,734 7,475 265,259 FRIENDS OF JOHANNESBURG BIBLE COLLEGE CHARITY NUMBER- 1136631 Notes to the financial statements For the year ended 31 December 2023 1. Accounting policies The financial statements have been prepared in accordance with applicable accounting standards and 'Amendments to Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) Update Bulletin 1, effective 1 January 2016; the Charities Act 1993,. the historic cost basis of accounting. and the accruals concept. Given the level of resenies, the financial statements have also been prepared on a going concem basis. Fund accounting Unrestricted funds held by the charity represent general funds that are not subject to any restriction regarding their use and are available for application on the general purpose of the charity. Restricted income funds are funds which can only be used for particular purposes as specified by the donor or funds raised for particular restricted purposes. Incoming resources and resources expended Incoming funds are accounted for when received with the exception of Gift Aid on donations received. which is recognised when re￿1Vable. Interest is accounted for when receivable. Resources expended are accounted for when paid. Current assets Debtors include amounts due to the charity for Gift Aid and interest receivable. 2. Movement in funds Bal Blfwd Receipts Payments Transfers Bal Clfwd Restricted income funds Unrestricted fvnds Total 20,125 506.554 526,679 (14,250) 392,814 407,064 5,875 379,173 385,048 265,433 265,433 The restricted income funds held were donations received for certain staff costs. FRIENDS OF JOHANNESBURG BIBLE COLLEGE CHARITY NUMBER- 1136631 3. Transactions with trustees No expenses were claimed during the year (2022: nil) by any trustee to cover fundraising expenses. Trustees contribute to the trust's income and amounts given by individuals are regarded as confidential. The total of gifts made by the trustees during the year totalled £212,500 {2022: £101.500).