##
##
##
##
|||||Page|
|---|---|---|---|---|
|Reference and Administrative||Details ofthe Charity,|its Trustees and Advisers||
|Trustees' Report||||2-5|
|Independent
Auditors'|Report|||6-9|
|Statement ofFinancial|Activities|||10|
|Balance Sheet|||||
|Cash Flow Statement||||12|
|Notes to the Financial|Statements|||13-23|
##
|Registered|name|||Global Fellowship
ofConfessing|Global Fellowship
ofConfessing|Anglicans|
|---|---|---|---|---|---|---|
|||||(Operating
name: "Gafcon")|||
|Trustees||||Mr David Monro, Chair|||
|||||Mrs Sarah Finch|||
|||||Mr Olayinka
Fisher|||
|||||Revd Chris Green|||
|||||Mr Emmanuel
Kampouris|||
|||||Most Revd Benjamin|Kwashi (resigned 30 November 2023)||
|||||Preb Charles
Marnham|||
|||||Most Revd Laurent Mbanda|||
|||||Dr Laurence Scandrett|||
|||||Rt.Revd Paul Donison|(appointed|30 November 2023)|
|Company registration|||no.|07759253|||
|Charity registration||no.||1144227|||
|Registered|office|||Christ Church
Central|||
|||||The DQ Centre|||
|||||Fitzwilliam
Street|||
|||||Sheffield|||
|||||S14JR|||
|Companysecretary||||Canon Daniel Willis|||
|Independent|auditors|||Griffin Stone Moscrop|8 Co||
|||||Chartered Accountants|||
|||||21-27Lamb's Conduit|Street||
|||||London|||
|||||WC1N 3GS|||
|Solicitors||||Charles
Russell Speechlys LLP|||
|||||SFleet Place|||
|||||London|||
|||||EC4M 7RD|||
|Bankers||||HSBC|||
|||||12A North Street|||
|||||Guildford|||
|||||Surrey|||
|||||GU1 4AF|||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
#
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
|||Note|2023|2023
E|2023f|2022
E|
|Income from:|||||||
|Donations
and legacies||2|128,874|420,455|549,329|270,769|
|Charitable
activities|—conference fees||||||
||||1,651,294||1,651,294||
|Otherincorne|||524|73|597|21|
|Total income and endowments|||1,780,692|420,528|2,201,220|270,790|
|Expended on:|||||||
|Raising funds||5|45,213|526|45,739|52,645|
|Charitable activities||6|1,140,547|303,236|1,443,783|178,202|
|Total expenditure||4|1,185,760|303,762|1.489,522|230,847|
|Movement
in total funds for the year-|||||||
|Net income for the year|||594,932|116,766|711698|39943|
|Total funds at 1 October 2022|||312,675|15,540|328,215|288,272|
|Total funds at 30September 2023|||907,607|132,306|1,039,913|328,215|
##
##
|||||||2023||2022|
|---|---|---|---|---|---|---|---|---|
|||||Note||E||E|
|Fixed assets|||||||||
|Tangible assets||||10||||221|
|Current assets|||||||||
|Debtors||||11|3,631||942,722||
|Cash at bank|||||1,070,851||220,304||
||||||1,074,482||1,163,026||
|Creditors: amounts
year||falling|due within one||(34,569)||(835,032)||
|Net current assets||||||1,039,913||327,994|
|Net assets||||||1,039,913||328,21 5|
|Charitable funds|||||||||
|Restricted funds||||13||132,306||15,540|
|Unrestricted
funds:|||||||||
|Designated|GAFCON||V2028 reserve|13||446,602|||
|General Funds||||13||461,005||312,675|
|Total funds||||||1,039,913||328,215|
##
##
##
||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
||||||2023|2023|2023|2022|
|||||Note|E|E|E|E|
|Cash Flows from|Operating|Activities:|||||||
|Net cash provided|by/(used|in) operating||15|733,452|117,095|850,547|(40,382)|
|Change
in cash and cash equivalents|||in||||||
|the year|||||733,452|117,095|850,547|(40,382)|
|Cash and cash equivalents
2022||at 1 October|||205,093|15,211|220,304|260,686|
|Cash and cash equivalents
September 2023||at30||16|938,545|132,306|1,070,851|220,304|
#
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Voluntary||inc|ome|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|||||funds|funds|funds|funds|funds|funds|
|||||2023f|2023
E|2023
E|2022
E|2022
E|2022f|
|Donations-||provinces,||||||||
|branches||8|churches|29,238|185,593|214,831|74,224|2,150|76,374|
|Grants||||(852)|112,503|111,651|30,642|17,423|48,065|
|Donations||from individuals||100,488|122,359|222,847|129,921|16,409|146,330|
|Voluntary|income|||128,874|420,455|549,329|234,787|35,982|270,769|
|Expenditure|||analysis|||||||
|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|||||funds|funds|funds|funds|funds|funds|
|||||2023|2023|2023|2022|2022|2022|
|||||E|E|E|8|E|E|
|Raising funds||||45,213|526|45,739|49,802|2,843|52,645|
|Charitable||activities||1,140,547|303,236|1,443,783|148,537|29,665|178,202|
|||||1,185,760|303,762|1,489,522|198,339|32,508|230,847|
##
##
##
##
##
##
##
||||Staff|Depre-|Other||||
|---|---|---|---|---|---|---|---|---|
||||costs|ciation|costs||Total|Total|
||||2023|2023|2023||2023|2022|
||||f|f|f||f|f|
|Raising funds|||31,545|46|14,148||45,739|52,645|
|Charitable
Activities|||122,659|175|1,320,949|1,443,783||178,202|
||||154,204|221|1,335,097|1.489,522||230,847|
|Costs of generating||voluntary|income||||||
|(a) Analysis of|Resources Expended||||Direct
Support||||
||||||costs|costs|Total|Total|
||||||2023f|2023
f|2023
f|2022f|
|Fundraising|costs||||12135|33604|45739|52,645|
|(b) Direct costs|ofgenerating||voluntary|Unrestricted
Restricted|||Total|Total|
|income|||||funds|funds|funds|funds|
||||||2023f|2023f|2023
f|2022
f|
|Office costs||||||||2|
|ITcosts||||||||285|
|Consultancy|costs||||9,194||9,194|21,540|
|Bank &other|charges||||2,415|526|2,941|2,673|
|Total|||||11,609|526|12,135|24,500|
##
##
##
##
|(a)|Analysis ofResources Expended|Analysis ofResources Expended|Analysis ofResources Expended||Support|||
|---|---|---|---|---|---|---|---|
|||||Direct costs|costs|Total|Total|
|||||2023|2023|2023|2022|
|||||E|E|E|E|
||Charitable
activities|including|conferences|1,365,373|78,410|1,443,783|178,202|
|||||1,365,373|78,410|1,443,783|178,202|
|(b)|Direct Charitable costs|||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
|||||2023|2023|2023|2022|
|||||||E||
||Staff costs|||38,703|10,351|49,054|42,068|
||Recruitment,
training|||327|79|406||
||Conference costs|||||||
||Venue|||420,451|105,850|526.301||
||Accommodation|||330,570|96,133|426,703||
||Travel|||14,628|55,975|70,603||
||Transport|||37,561|9,071|46,632||
||Publicity|||57,982|8,310|66,292||
||Administration|||21,546|766|22,312||
||Exchange losses|||90,786||90,786||
||Travel &Subsistence|||8,213||8,213|1,694|
||Overnight
Accommodation|||13,882||13,882||
||Venue costs|||(3,923)||(3,923)||
||Grants|||39|10,482|10,521|14,701|
||Publicity costs|||6,904||6,904|6,247|
||Office costs|||4,086|953|5,039|4,748|
||ITcosts|||1,408|342|1,750|900|
||Consultancy
costs|||18,812|4,924|23,736|41,175|
||Bank 8other charges|||93||93|427|
||Depreciation|||69||69|571|
|||||1,062,137|303,236|1,365,373|112,531|
##
##
##
##
|Support costs|||||||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|funds|funds|
||||2023|2023|2023|2022|
|Staff costs|||105,150||105,150|100,777|
|Travel 8 Subsistence|||4,471||4,471|2,077|
|Office costs|||13,116||13,116|12,287|
|ITcosts|||1,883||1,883|1,995|
|Legal &professional
costs|||46||46|478|
|Bank 8other charges|||402||402|218|
|Depreciation|||152||152|176|
|Exchange losses/(gains)|||(19,384)||(19,384)|(29,685)|
|Governance
items|||||||
|Trustees
Meeting expenses|||72||72|48|
|Office costs||||||5|
|Audit fee|||6,080||6,080|5,440|
|Other Legal 8 Professional||fees|26||26||
||||112,014||112,014|93,816|
|Allocation:|||||||
|Cost of Generating
funds
Charitable
Activities|||33,604
78,410||33,604
78,410|28,145
65,671|
||||112,014||112,014|93,816|
|Net income/(expenditure)|||||||
|This is stated after charging:|||||||
||||||2023f|2022
E|
|Depreciation
oftangible|fixed assets:||||||
|—owned
by the charity|||||221|747|
|Auditors'
remuneration|—audit fees||||6,080|5,440|
|Auditors'
remuneration|—non-audit fees|||||478|
##
##
##
##
|Staff costs||||||
|---|---|---|---|---|---|
|Staff costs|were asfollows:|||2023|2022|
|||||E|E|
|Wages and|salaries|||134,090|124,434|
|Social security costs|||||689|
|Pensions||||20,114|17,722|
|||||154,204|142,845|
|The average|monthly|number ofemployees|during the year was as follows:|||
|||||2023|2022|
|||||No.|No.|
|||||4|4|
##
||||Fixtures,|||
|---|---|---|---|---|---|
||||Fittings 8|Computer||
||||Equipment|Equipment|Total|
|Cost|||E|E|f|
|At beginning|ofyear||882|7,898|8,780|
|Additions||||||
|Disposals|||(882)|(1,250)|(2,132)|
|At end ofyear||||6,648|6,648|
|Depreciation||||||
|At beginning|ofyear||730|7,829|8,559|
|Depreciation|||152|69|221|
|Disposals|||(882)|1,250)|(2,132)|
|At end ofyear||||6,648|6,648|
|Net book value at year end||||||
|Net book value at beginning||ofyear|152|69|221|
##
##
##
##
|Debtors||||||
|---|---|---|---|---|---|
|||||2023f|2022|
|Other debtors||||654|611|
|Prepayments||and accrued income||2,977|942,111|
|||||3,631|942,722|
|Creditors:|Amounts||falling due within one year|||
|||||2023f|2022|
|Creditors||||26,729|735,624|
|Accruals and||deferred income||5,766|97,317|
|Other Taxation and|||Social Security costs|2,074|2,091|
|||||34,569|835,032|
##
##
|Statement offunds||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Brought|Incoming|Resources||Transfers|Carried|
|||||Forwardf|Resources
f||Expended
f|of Funds|Forwardf|
|Restricted funds||||||||||
|Gafcon future endowment||fund|||57,927||(265)||57,662|
|Bishops Training
Institute|Fund|||640|1,674||||2,314|
|Bishop Lines Fund|||||10„507||(10,494)||13|
|Video Production
Fund||||6,998|||||6,998|
|Suffering
Church
Network||Fund||3,914|364||(3)||4,275|
|Sustainable
Development|Network||Fund|16|240||(4)||252|
|Lawyers Task Force||||143|10||||153|
|Women
in Ministry
Network||||489|421||||910|
|Global Mission Partnerships||Network|||123||(3)||120|
|General
Network
Fund|||||152||(103)||49|
|Geberal Secretary Travel|Fund||||8,095||(2,294)||5,801|
|Conference
Organiser
Fund|||||3,367||(3,367)|||
|Kigali Bursary Fund||||356|||||356|
|GAFCON
IV Bursary Fund||||2,980|337,648||(287,229)||53,399|
|Other Funds||||4|||||4|
|||||15,540|420,528||(303,762)||132,306|
##
##
##
##
##
##
##
##
##
||Summary
offunds||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Brought|Incoming|Resources|Transfers|Carried|
||Year ended 30September|||2023:||Forwardf|Resourcesf|Expended|offundsf|Forwardf|
||Unrestricted
funds|||||312,675|1,780,692|(1,185,760)||907,607|
||Restricted funds|||||15,540|420,528|(303,762)||132,306|
|||||||328,21 5|2,201,220|1,489,522||1,039,913|
||Comparative
Figures:||||||||||
||Year ended 30September||2022:||||||||
||Restricted Funds||||||||||
||Bishops Training
Institute||Fund|||(764)|1,404|||640|
||Bishop Lines Fund||||||14,330|(14,330)|||
||Video Production
Fund|||||6,998||||6,998|
||Suffering
Church
Network|||Fund||3,651|263|||3,914|
||Sustainable
Development||Network||Fund||240|(224)||16|
||Lawyers Task Force|||||143||||143|
||Prayer Network|||||87||(87)|||
||Women
in Ministry
Network|||||389|100|||489|
||Global Mission Partnerships|||Network|||400|(400)|||
||Conference
Organiser|Fund|||||17,423|(17,423)|||
||Kigali Bursary Fund|||||1,558|||(1,202)|356|
||GAFCON
IV Bursary Fund||||||1,822|(44)|1,202|2,980|
||Other Funds|||||||||4|
|||||||12,066|35,982|(32,508)||15,540|
||Unrestricted
funds||||||||||
||General|||||276,206|234,808|(198,339)||312,675|
||Total offunds|||||288,272|270,790|(230,847)||328,215|
|14.|Analysis ofnet assets|between funds||||Unrestricted||Restricted|Total|Total|
||||||||funds|funds|Funds|funds|
||||||||2023f|2023f|2023f|2022f|
||Tangible fixed assets|||||||||221|
||Current assets||||||942,176|132,306|1,074,482|1,163,026|
||Creditors
due within one||year||||(34,569)||(34,569)|(835,032)|
||||||||907,607|132,306|1,039,913|328,215|
##
##
##
##
##
|||||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|Funds|Funds|
|||||||202
3|2023
E|2023
f|2022f|
|Cash|at|bank|and|in|hand|938,545|132,306|1,070,851|220,304|
##
##
##