SOUTH AFRICAN CONGREGATION Report and Financial Statements 31 December 2023 Company nurnber: 08413216 Charity registration number: 1151071 (Registered in Engla￿1 and Wale5) SOUTHAFRICAN CONGREGA TION CONTENTS Page Administrative de14il$ AdmiNtstr￿1ve details Reports Trustee directots. report Independeni audiiors. repLWI I1￿13 Fknancial gtat¢m¢nts of ¢ompTehen5ive income Stskment of financial p)siiion Sthtement of ¢ath flow Principal accounting policies and Note5 to the a￿OUnts 14 15 16 17-26 SOUTHAFRJCAN CONGREGA TION CORPORATE INFORMATION Charity name South African Congr¢gaiion Registrations Company number.. 08413216 Registered with Charity Commission for England ond Wales- Chwity r¢gi5trwlion numb¢r: 1151071 Dlrectors Willem Beumer Thinus Buchner Sumien Coetzer Etieme Gouws Frans Hamm Johan Nell Charl S¢¢yn jxo1m￿ Theron Morn¢ van den BeT8 Jacobus Louts van Plets Wynartd Viljo¢n Marius Vemwk 13 May 2023 08 Juty 2023 20 Mar¢h 2022 Company secretary Rian S Ste￿1 Registered address Applegorth 34 Pinewood G￿n$ Southborcwgh Tunbridge W¢lls Kent rN4 ONN Bankers HSBC PIC 65 P&khotse Riod Gerrards Cross Buckin8hamshire SL9 8PH Auditor5 David Howard ￿artered Accountants I P￿ Road Harnptsm Wick Kings¢on upon Thwn¢s Surrey KTI 4AS Website www.SAGemeente.com so￿ AFRICAN CONGREGA TJON TRUSTEE DIREcfoRS' REPORT The Trus*e DIrec￿rS present their ttport on the Company for the year ended 31 D￿ernb 2023 which is also wepared to meet the Wu1￿Ments of a Dircriors, repLYt a￿1 a¢¢wnts for Companie5 Acl puryjoses. The financial stslements comply with the Charities Act 2011. the Companies Acl 2006. the Memorandum and Articles of Associatio￿ and Accounting and Reporting by Charities: Statement of Recommended Practice Ipplleable to charities preparlng their &ccounL8 In accordance with the Financial Re￿rtIng Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). Objectives 8nd Activities The Company WA5 incorporaicd on 21 February 2013 for the public benefit. with the objective lo advance ihe Christian faith in the United Kingdom and the world, as the Truslees may decide, and io fulfil such other purposes which are exclusively charitable accordln8 10 the law of England and Wales and relate to the charitable work of the Company. On I. of Au8USt 2013 the charitsble In￿1 South African Congregation. created on 24 Septrffl￿r 1994, transfenEd all Its assets. liabiliiles. rtserves and a¢iivities to the CompAny, The Company 15 estsblished to advance the Christian reli8ion in the United Kin8dom and elsewhere in a¢cordanc¢ wilh its fundamentsl beliefs that are a8entlally based on the R¢fom)ed Confession. The South Afrlcan Con8re8atlon Is commltted to: - enabling as many people as possible io worship at our church servi¢e and lo Ixcom¢ port of the activities of the Church. - support o number of missions an(1 related ¢harllies inside and outside of England, with (he maln 8oals of spreading the gospel io all gmups and naiions and lo suP￿rt individuals and groups in need; work with the local ¢ommunilie5 and action groups in the areaslre8ions where Ihe Company has ¢hurch seryi¢e The congregatlon Consists of confessing membets and thelr children. living within th¢ Unil¢d Kingdom. When planning the adivities for th¢ y¢8r. tk South Afri¢An CongreBation considered the Commission's guidance on publi¢ benefil, and particularly the specific guidan¢¢ on ¢harities for Ihe advancement of reli8lon. We ende&vour lo enable ordinary people 10 liv¢ out their faith as part of the community through: - worship and prayer; - leaming abo￿ the Gospel; - developing their knowledge and t￿￿1 in Jesus: - provision of pastoral Care for members and others in need. atKI - Missionary and outreach work. Aehlevements and perfornianee Contributions from members for the financial year to 31 December 2023 exceeded the budget. Looking foTwart il 15 expccted ih¥4t the fin4noial hardship thai are following the inctease in inflation and higher taxation, may have an adverse impac¢ on the contributions. The need for support of members and the wlder community is expected to increase. The Compny continued with the ser4ices of three full time ministers during th¢ finatKial year. Dr Rian Sieyn was responslble for ihe London warf Dr Ferdie Clasen was responsible for Ihe sourHAFRICAN CONGREGA TJON South ward afvj Rev Andre Harn￿¢￿ was respo￿•ble for the North waTd The Company also employed a minisler on a part time b￿lS to assi￿ with church services and other thsks in EdinburglL Dr Ferdie Clasen amm)Ur￿ his inlffllion lo rfire aThJ retwn to South Afri￿ following an extensive recTUitment campaign* Dr Sd)gstioan van Dyk was apN)inted &s hts replacement to lead the South ward. effeciive octo￿ 2023. Dr Clas¢n left the Company * the end of oc￿ber 2023 with best wishes a￿1 8reai for the w(Yk he has done over his ienure. All a¢iivilies ai the South African CLMw*ion are by the members and for the member& wheiher il 15 church 5ervice& Irainin& camp& small group n￿etings or any of the outreadi livities. All ihese activities ￿ perfornxd by members on a voluntary basis a￿1 only specific appointed employees are r¢mwThtcd. The Company solely relies on the financial contribution from its memt*ts for its fundin& The gth*rnl public and instillttiotLS have never been apprnAched for fIn￿￿7a1 ￿lstanCe or for grants. As part of ihe Company's ￿livI11¢S 1¢ makes contribthions in lime. ¢ffort and financial wrt (Aher organisations with similar objeclive5. The Company, thrt￿gh the differenl ward5 aThl through its members, is also actively involved in a mimberofactivities in ihe local communities. These aclivi(ies are be driven by the Clxnpany, or li in association with other charities. woiects or 5¢hoo15 and cover multiple aclivilies, such as youth prnjeC￿ feeding proied& food banks and outreach activilies. The Company has performed well over the years as is evidenced by the numlxrs of members of the congregation, the supp)rt in ihe congwtion of various activii>es and the participation in ¢ommunity activilies and mission& Th¢ funding of the Company has also been sueeessful aThl for many years a surplus had been regiswed. This has h¢lF¢d to build cash ￿serIeS to around 6 monihs. worth of running expenses. Membership numbers have been stsble over the last number of years wilh around I,Sikl adive members of which just over a 1.000 are adult& Contributions of reslricwl and unreslrided funds by meM￿rS was slightly hiWKr at £473.04] (2022: £463,420). The church services conducted by the different wards are as follows: The London ward with its base for 2023 ￿ Michael Faraday Primary School. c(*yJucts Svndjy ¢hurch ser¥i¢e5 every 5tt0nd and forth Sunday in Loth and every fjtst and third Sunday in Maidsione ai Sufton Vale￿e schl￿1. The Nonh ward coNl￿ts No church services per month * the TTrwdon Bois Willagc Hall. Theydon Bois and iwo chwch services w moNh at AlderbTO(* Sthool. SolihulL B1￿1ngharn, with one sttvice per month in EdIni￿rSh. The South Ward has iwo church seThices per month at Kin8s College in Guildfor Otherclmwch athivities are mainly focused on supwting smaller group5 who meet on a ￿gUlar basis for wotship ar￿ Bible si￿. These 8thiVities include Christian breakfast meeting¥ inte8fdted leadership develown¢N with r￿u5 ￿ th¢ inl¢iiKdalion of the Bibk discussion groups and irnining events. Atthe endof December2023. Ihe Company had 3 full ¢imc and 8 part time employees (incI￿lIng the minisiersl wilh a full lime equivalent of ground 7.0 (2022: 7.0) POS￿ Employtts wrfe responsible for the monagemeni and athninistration of ail Church and church related activitie4 accountinwfinan¢ial manag¢m¢nl of the CLxnpany? managing the dathbase aThJ w¢bsi* aryl various digital plaifomis in Sup￿￿ of the minislry. SOUTHAFRICAN CONGREGA TJON As noted above, the main PUTpose of the Company is ￿ advance the Christian religion in the United Kingdom, with specific focus on Afrikaans speaking South Africans in the United Kingdom. The high membership numbers of the congregation and the level of participation in activities demonstrate the need for such 4 Company. The church and worship services are also regularly anend¢d by a number of English-SFeaking people as live translation services are available at services. The different ward5 Of the Ch￿￿h internct with local charities and together they develop strate8ies to reach out to local communities and schools and participate in local events. Contribution$ to foodbanks and oihets in need continued throughout the year as we believe that helping ihoK in need is a demonslrntion of our faith. The South African Congregation is a member of the Evangelical Allianc¢. The Tn￿te¢S hav¢ Complied with the duly in section 17(5) of the Charities Act 2011 to have due rd to 8uidanee published by the Charity Commission on public benefit. Financial review The total unrestricted colle¢tions and donation5 for ihe 2023 financial year amounted to £456.681 (2022: £442,745). The contribution5 in respecl of restricted funds were £16,360 (2Q22: £20,675), whileGift #idcontribuled £108.696 (2022: £94.095) and interest £5.158 (2022: £618). Activities and events income amounted lo £22.998 (2022: £33.731). After expenses in respect of unrestricted funds of £708,939 (2022: £602,923% Ihe Company recorded a deficit of £115,406 (2022: £31,734). Expensts in respeci of restricted funds amounted to £22.275 (2022: £16.487}. resulting in a deficit of £5,915 {2022: swplus of £4,188 The main driver of the deficit W&5 associated with the changeover in Minislers in the South Ward with the recruitment and relocation of Dr Van Dyk and the retirement and relocation of Dr Cla5¢n. The financial posilion Temains str(x)g* withcash resourcesof£222.488 (31 December 2022: £365,193). Thc Tn￿(￿5 do not fore5ec any material change in the activitie5 in Ihe corning year. The Trusie¢s ¢OnfirM￿ ih¢ wnlinualion of the ChU￿h 5ervi¢es being available noi only at th¢ different places of worship, but also via the digital platfomis. There are a number of people from around the world who started to tune in to the digitsl 5erviee5 a5 it provides an opportunity for people to join in to a service although they do noi live close enough io atte1￿ a church service The struclurc of the mini51ryJ excculion of strategy and locaiion of 5¢rvices are assessed annually at a sirategic planning meeting where the laiest inforniation about member& contributions. Government policy on visa5 and ivork pennits and (Aher facto￿ impa¢ting on aclivitie& are considered. A risk register is mainlained to assist the Truslees with this evalualio From this forum short and medium4emi plans deVelo￿d. The Company rewrts in acCOrda￿e with Accounun8 and Reporting by Charities: Ststement of Recommended Praclice applicable lo charities preparing their accounls in a¢cordan¢¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (¢ffethiv¢ l January 2019). Reserves and funds Reserves consist of all retained income available to the Company and exclude the designat funds and the restrieted fund* The reserves of the Church are considered lo be sutTicien¢ for the short and medium t¢rnh. How¢v¢r. du¢ to ihe facl that all the activities are mainly funded from weekly and monthly donations from the congregation members, it is considered prudenl that the SOUTHAFRJCAN CONGREGA TION Company should maintain reserrfes ihat att sufficienl to support at leasl one year's plonned aclivilie5. The Company also bought propertie5 which act not only as accommodaiion for the ministers, but also serve As offices for the different wards. The pu￿h?$¢ priccs of the properties, in excess of depreciatio￿ wa5 Also funded by ihe accumulat&J r¢serYes. Designated funds a￿ sd up lo provide sufficient reserves 10 fund all ¢osts of returning ihe ￿11- time ministers to South Afri¢i in accordance with iheir employment ¢ontra¢ts. The general Un￿stricted reserves at year*nd amount lo £2,214.785 (2022: £2.330,191). Plans for future perlodj As pan of ihe onnyjl slra¢e81¢ plthning by the Trustees, an assessmeni ts made of the membership, the coniribulions by the members and the main ar￿ where members livc. against the places where Sunday services Are held and the facilities that are &vailabl¢ ai Ihese place5 of worship. Total membership numbers and conlribulions slabilised but there are also some movements in ihe membership numbers between ihe differeni waThls. The main ¢onsidcrations of the Truslces are the ongoing finaneial Suslainability of the wards in total. but consldernlion is a150 given to cach of the places of Worship. SutTicient reserves and an adequate cash balance providecomfort th&i ihe aciivilies can continue for the short io medium iemi. Depending on trend5 in membership and contribuiions, Ihe Truslees have the options of ¢iiher¢losing one or more ofihe places of worship, or consolidaling them, andlor reall￿4(¢ the Te50urces between the dilyerent places of worship. It is also possible for some activities lo be scaled back al one or more of Ihe place5 of worship. A further option is 10 sell one of ihe properties owned by the Company, thereby luming ihe reserves inio Cash. Thi5 is a continuin8 assessmenl and ¢v4luation and the ¢urrenl level of available reserves and funds should provide suifi¢ienl support durin8 th¢ lime of the implementsiion of any such decisions. Structure, Governance and Management The organisation is a Charltsble CompAny limiied by guarnnlee. incorporated on ihe 21 February 2013. ond is regislered as a Charity since the 5 of March 2013. The Company was establish￿ under a Memorandum of Association whi¢h esthb115h￿ Ihe obie¢tive5 and powcrJ of Ihe Charitable Company and is governed under its Articles of Association. In the eveni of the Company bein8 wound up members aff required 10 conlribute an omounl not exceedinL? £10. The Direclors of the Company 4re also Charity Trusiees for the purpose ofchtirily law and under Ihe Company's Articles are known as membet¥. A Management Commilt¢e, con5isling of the Truslees and the Minis*rs. manage the activities of the Chariiy. All members of the Man4gemeni Commiiiee. excepl for Ihe full time employed Ministers who are not TTh￿IeeS, give iheir tlme volun￿nIy artd receive no remunerntlon or economtc benefits from the Charity. The Trnllees have responsibility for the charitsble activities and administration, ns well as the control of 411855¢ts. funds and properties of the Company. In exercisin8 these fesponsibilities, Trustees wilh the required experi¢nce, training and skills, are appointed. Tru51ce5 are subjecl lo relirement from offKe, ￿ least one-third are subject io retire annually, by nmaiion. Trn$t¢¢s' IDdu¢tio* #nd traiiiiDg All Tn￿ee5 and member5 of the ManagenRM Committee are active participants of the &yJth African Congregaiion church and thettfore of the ChaNty. This h&% the advantage that they Are all familiar with ihe activities, the policies and procedures of the Charity. All the Management Committee members afe professiot)als in different disciplines, rdllging from finance, privak equity, wnsuliin8• IT, wii¢cl management to trained minislers of religio￿ with many a¢ling as Tntstees andlor Dirt¢iors of other Charities and Companies. Management Commillee members SOUTHAFRICAN CONGREGA TION encouraged to frequenily review the Charity Commissiorts, websiie to tmderstand their responsibilities. the requirements OrTn￿tee5 and to be aware ofn¢w dev¢lopm¢nts. The Charity Commi55i(xJ's website is also used as an 0Tr8oing irnining tijol. Risk managenxyl The Managemeni Committee annually a review of the major risks io which the Charity is exposed. A risk register is mainlained and updated where necessary. Wh¢r¢ appropriat¢, systems and pro¢¢duTe5 have ixen established ￿ miligak the ri5k5 faced by ￿ Charity. Internal ntrol risks a￿ minimised by the impkmentstion of procedures for authorisation of all expense4 transactions and projects. Procedwes are in place to en5urc ¢omplianc¢ with health and safery of sthff. ¢hur¢h memiry volunteers aThl visi￿rS. These ￿￿edureS are Frridically T¢vi¢w¢d to that conlinue lo the neets of the Charity. appropriate. risks are covered by insuran¢e. However. in assessing risK Trustees recognise that s<￿e arus of its work require the accepthnc¢ and managemenl of risk if the key objeciives aff io t¢ 8¢hi¢v¢d. The major risks. doC￿nented in the risk register, aff idenlified and ranked in lernis of their )*niial impact and likelihood. Major risk& f(Y this pwp)se. are ihose that may have signifIcant effe¢1 on: . Opernt1￿￿l wrornw￿. in¢1￿1￿8 risks to ow personrd. members and the genernj blic: - Financial sllsthinability, inclwlin8 stsbility and secwity of income: - A¢hievemcnl ofour aims aTrJ obieaives. or - Meeting the expectttions of our Memb￿ fflission Partlle￿ and local charities with whom we srn the local community. The following fiwneth 1$ ceffttrnl to ensuring athquate rtsk assurance: - Regular monitoring of major risks and devel￿ment ofa¢iion pla - Embedding risk identifK*ion assessment within operating p￿￿edUreS. - A clear slruclure of delegated authority and control. - Review of key systems and wocedures; - I￿oMe and profil targets for the different ward& with Tegular communication to members aboui the financial posilion of ilr Charity: - Mainlaining rc5ervcs in line with set policiffj and - Regular discussion on risk Manag￿ent by the Tn￿te£s. Risks 8re also considered and addressed as part of the annual strdtegic review. It is further reviewed when ihe budgei is tryared and also at the regular Tru5t¢¢ m¢etin85 where ihe incom4 exp￿￿ ¢ash flows aThJ InSurn￿ are discussed. Gramts In accordance with the principles of the Christian rai￿ the Tnthees believe that advancement of the Christian belief 8rKI compassion relief are inextricably linked to each other arkd cannot b¢ gparatcd. Compassion relief is given to cover urgent costs of members of the congr¢gaiion during of need. Likewi¥ the slip￿rt of other Christian initialives and or8anisations are seen as part of the reswnsibiliiies of the Conwegail￿. Therefore. in ￿lti( to organising ihe main Church activities, the Charity a150 provide5 grants kn (Aher institutions that support its aims. These yants approved by the Tru51e¢5 aNI ov¢rsttn by t Management Committee. Grants F￿VIded are slK)wn in note 9 w the acc(Amts. Investmemt Power5 The Memorandum of AssoCi￿10Th authorises the TrU￿teS io make aNI hold investments using the general fiind5 of th¢ Charity. Tr c45h funds of the Charity are kepl on a onc4ay morKy markd deposii account with the Company's banker. No Lthr investsnents were made. A SOUTHAFRJCAN CONGREGA TION strategic decision wos tsken to purchase the pro￿leS that are provided to the full-time Minisie￿ a5 rcsidences. as detailed below. Inveslment In fixed property The TTUStees believe that the Boals of the Charity could be the best served by acquirin8 the residential properties needed to provide accommodaiion to the full-time ministers. This eliminates the risk of inCr￿s1￿g renth15. The PToperties are also used by the ministers and administrative personnel a5 offices ofthe different wards. This ensures a furthere0￿ saving and miligales the risk where business activities are often not allowed un(kr a rental agreemenl. Going concern The a¢tivities, logether with the faciors likely to affect future developmenL financial p05ilio rinan¢ial risk managemenl objectives and derivaiive activities, and ihe exposures ¢0 liquidity atml cash flow risk5 are 5¢¢ out in ihis Tn￿lee Directors, Report. The Company has significant reserves and sufficient cash resources, with no debL which will enable it lo fund activities. Expenses are also manage4l where possible, in line with ¢on1rib￿lOns received. As a consequence, the Trustee Directojs believe that the Company is well posi¢ioned to manage its business risks successfully in the currenl economic climale. After making enquirie4 the Directors have a re&8onable expe¢¢aiion tha¢ ihc Company ha5 adequa* resour¢¢5 lo con¢inuc in opetational exislence for the foreseeable future. Accordingly. they coniinue ¢0 adcy ih¢ going ¢on¢¢rn ba515 in pf¢paTing ihe annual report and accounts. Trustee Directors, responsibiliti Company and charity law require the Tn￿teeS io prepare the Trustees, report and ihe financial 51alements in accordance wilh FRS102 and the charity SORP (FRS 102). The Trusiees musl not approve ihe financial sthtements unle55 ihey are saiisfied tha( they give a tsue and fair view of the stale of affairs of the Charity at the end of the financial year and of its surplus or deficit for that period. In doing so, the Tru5te¢s are responsible for: Select suitable accounting policies and then apply them eortslstently. Make judgements and estimates that are reasonable aThJ prudent: P￿pare ih¢ financial stal¢m¢nts on the going ¢onccrn basi5 unles5 1¢ 15 IlQt appTopriai¢ to assume that the Company will continue on that basis; The mainlenance ar￿ inlegrity of Ihe corporale and financial infornation included th) the Charity's website. The Management Committee is responsible for m&intaining proper accountin8 records which disclose wilh reasonable accuracy at any time the financial wsition of the Charitable Company a￿1 lo enable them lo ensure Ihat the financial slatemcnts comply with Ihe compani￿ Act 2LK)6. The Management Committee Is also responsible for safeguarding the assets of the Charithble Company and hence for taking reasonable sieps for the prevention and deteaion of fraud and other irregularilie5. Trustees. who are Direthors for the purpose of Company law and Trustees for the purpose of Charity law. who ￿ry¢d during the year and up to the da* of this report are set out on page 2. In accordance with Companylgw, the Company'5 Directots, we certify ihai: So far as we are aware. there is no televant audit infonnalion of whith the Company's audilors are unawwy; and As the Dirtttors of the Company we have thken all the steps that we oughi io have taken in order to make ourselves awar¢ of any relevani audit infornlaiion and io establish ihat the Charity's a￿allorS are aware of that infornation. SOUTHAFRICAN CONGREGAfioN Auditors David Howard was appointrd as the Charitsble Company's first auditors aTrJ have expressed thcir willingness to Contin￿ in capaciry in a¢¢oTdw with S¢thion 487(2) of ihe Companies Aci 21Th. This report has been prepATed in xcordarte wtth the Sts*mMt of R¢commended Prnctiee: Accounling and Re&￿ing by Charities (SORP (FRS102)) and in ac¢ordan¢¢ with 5￿CIal provision of Part 15 of the Companits Ad 2(MJ6 relati[¥ to Small entities. Approval This report was apFwv¢d by the Tnthes aTrl siw*d on Iheir behalf by: Mome ChAirmaD den 2024 sourHAFRICAN CONGREGA TION Independent Audltors, Report to the Trustees of South Africa Congregation We have aUdI￿d the financial sthiements of South African Congregation for the year ended 31 Decembtt 2023 whi¢h wmpri5e the slatement of financial activities, the balance sheet and the related notes. Th¢ finan¢ial reporting framework that has been applied in their preparation is applicable18w and the Finart¢ial Reporting Standards including Financial Reporting Stsndard 102.. The Financial Reporting Sthndard applicable in the UK and Republic of [￿land (United Kingdom Genetally Accepied Accounting Pracii¢¢). In our Opinio￿ the financial Sthlements: give a true and fair view of the Sta￿ of the ChArlty's affairs L% at 31 Deeember 2023 and of its income and expendilure for ih¢ ycar then ended: hav¢ been properly prepared in accordance with Uni*d Kingdom Generally Accepted Accounting Prac¢ice' have been Ettpared in accordan¢¢ with th¢ requ1￿met￿ of the Comp4ni¢s Aci 2006. Basts for oplnlon We conducted our audit in acconlanee wlth Intemational Standar(k on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those sthndards are further described in the Audiiors r¢sponsibilitie5 for ihe audit of the financial slatemenls section of our report. We are independenl of the charitsble company in accordance with the ethical requirements that are relevani to ouraudit of the financial siatements in the UK including the FRC'S Ethical Stsndard. and we have fulfilled our other ethical responsibililies in accordance wilh these requirements. We believe thai the audit evidence we have obtained is sufficient and appropriate io provide a basis for our opinion. ConelusloDS relatlllg to golng eoneer We have nothing to report in respecl of the following matters in rel￿10n to wht¢h the ISAS (UK) require us lo report lo you where.. the In￿tee5, use of the 80in8 concern basis of accounting in the preparation of the financial statements is not appropriate. or the trustees have noi disclosed in the final￿la1 statements any identified malerial uncertainties that may cast significant doubt about the Charity's ability to continue to adopt ihe going concern b&8is of a¢¢ounting for a period of at leL8t twelve months from th¢ date wh¢n th¢ financial siatements are authoris¢d for issue. (hher lllformltlon The trustees are responsible for the other infornialion. The other infornialion comprises the Info￿allOn included in the annual report other than the financial slatemenls and our audilor's report Ihereon. Our opinion on ihe financial ststements does not cover the oiher infornMtion and, except lo the extent othen¥ise expltcitly staled in our repo¢ we do not expres5 any fomi ofas5uranc¢ CO￿lUSion th¢reon. In connection with our audit of ihe financial statements. our responsibility is to read the other Inforniation and, In doing so, consider whether the other infomiation is materially inconsistent with ihe financial statements or our knowledge obtained in the audit or otherwise appears to be 10 SOUTHAFIUCAN CONGREGA TION IndepeDdenl A•dilors' Rg￿rt to the Trllsttts of South Afri¢aD Coryreg¥tioD (¢o•tinued) M￿enallY mi55tatcd. If we identify s￿h material inconsis*ncies or apparent maieriaj missMemenw we a￿ r¢quircd io ddcrmine whether there is a material misslatement in the rinancial ststements or a material misststement of the other inforniation. If. based on the work we have perfonned, we conclude the￿ 1$ a M￿erial misslalement of this other infonnali( we are wuired to report thai f￿1. We have nothing to report ift this regard. Opinions on other matters prescrlbed by the Comp#•i¢s Aft 21x16 In our opinion, based on the work in the ¢owse of the audil: the infornmtion given in the thtstees, reprt for the financial year forwhich the financial swements aTe wep￿1 is Consi￿eN with the finwKial 5thtcments: and the trustees, repx)rt {irK(xpixatingthe stsa*gi¢ rep￿tand Ilr directLYS' report) has been epar&l in aCCLyd￿ with applicable legal r¢quiT¢ments. Matt¢rs on which w¢ are required lo report by exeeption In the lig￿ of the knowledge a￿1 Unde￿ing of the Charity and its environment olAained in the course of the al￿1[ we have noi ideniified m￿erIal misstatements in the Tntstees, Annual Report. We have noihing to report in respect of the following matters in relati￿) lo which ihe Companies Act 2006 requires us to rep)rt to you if. in ow opinion: adequaie accounting records have rKX been kepi or returns adequa* for a￿1[ have not been received from branchcs nol visiied by u the financial stateM￿ts are ￿ in agree￿￿1 with th xcouMi￿ Tecords and rdurn5: cettsin disclosu￿ of truskes, remunttaith speCif￿d by are not made; or we have not oirtained all the infornMtion and explanatio￿ ￿(e5￿ for the purp05e5 of our a￿1]{. Responsil>ilities of the lrntees As explain￿ morc fulty in truskes. re4xmsibilities Stylem￿ on Iw & the iTUStees are responsible for the preparation of the fin￿￿la1 statements and for being salisfied thai iky give a tft* and fair view, and for such in*mal control as tlw deternline is necessary to erAble the prePa￿lon of financial statements that are free from malerial missl•temenL Whetherd￿ io fraud or error. In preparing the financial s1atrmen￿ th¢ ar¢ r¢5pon5ible for a5se5sing the CPArity's ability io continue as a going Con￿ di￿1051n& as applicable. matter5 Tel￿ed to going concern and using the going concern basis of accounting unless the trY￿ee$ either in*nd to liquidat¢ th¢ Charity or to ¢eas¢ or have no realistic alternative do s SOUTHAFRICAN CONGREGA TION Ind¢p¢AdeNt Awdi¢oTS' Re￿rt th the Trustees ofsowtb Afrieatt CoD£reptio {¢ontinaed) Our responsibilities for the audit of Ihe fInan¢i￿ Jl*lements whole are free from maierial misswemenl whthr duc lo fraud or ¢fftY, and ￿ issue an audI￿r'S repK)rt that includ¢s ouropinion. Re•sonable assurance is a high level ofassurdnce. but is not a guarantee thai an audit COnth￿ed in a¢c(Ydan¢¢ with ISAS (UK) will always deled a m￿erIal misstsiemcnt WIM il exists. Missthiements can arise from fra￿1 or error 8nd are considered mateTial if, individually or in the a88regate. ¢W could r￿SonAblY be eX￿¢ted to influence the economic decisions of users thken on the bASiS of thtse financial stttemen Misstalements can arise from fraud or erriYarKI are considered malerial if. individually or in ihe aggreg￿, they cotsld re&%onably LY io influence the economic decisio￿$ of users tsken on the basis of these financia] statements. lffe8uloriiies. including fra￿1 aTe Insta￿ of non•C(￿jpI1ar￿e with laws arml ¥egu]ations. We design procedures in line with our ￿SPc￿LsibilItse& ljrtlined abjve. kn detecl malerial misslatements in respect of irregulariiies. including frau& The ¢xtent io which our pr(ttdures are capAble of detecting irregularilic& including fra￿1 is detailed below: Our approach to identifying and assessing the risks of material missiatement in resp￿1 of irregularities, including fraud and non-compliance with laws and regulation4 follows: th¢ engagemcnt pwrtiKr ensured thal the engagement team collethivcly had ihc appropriate compelence• capabilities and skills to ideniify or recwise nonrycmplian¢e with applicable laws aThl regulations. we identified the laws and regulations aFvlicable to the company through discussior with irustees aThl other managenw and from our commerclal knowledge a￿1 experience of the charity seclor. we r￿used on Sp￿lf￿ laws and Tegulati4)ns which we considered may have x dirett maierial effect financial 5tai¢m¢nts or the opu*ions of the company. including such as the Charites Act 2011. taxation legislatio￿ data wolecl10￿ arti-bribery. and health and safety legislation" we a55¢55cd th¢ exlent of compliance with Ihe laws a￿1 regulatio￿ id¢ntifKd above through making ewuiiies of managemenl and inspeclilbg legal corrtsp¥N¥Jence' identified laws and regulations were communicated within the audii team regularly and the team remained alert io inslancts of non-C(mpliaKe thrOug1￿l the audiL We assessed the suscepiibility of the COMp￿Y'S financial stakments ￿ ma*rial misstatement* includin8 obtsining an undetstsnding of how fraud might occur. by: making enquiries of management as to where tlw Considered thtte was swibility to frau￿ their knowledge of actual. susp￿ted and all¢g¢d fra￿￿. considering ihe internal contr(As in pkn ts) miliga* risks of fraud arAI noTrc(rfwliance with laws and regulations. and To athlress the risk of frn￿l through managen￿l bias and ove￿Ide of contro15, W¢: perfornied analytical pl(￿￿￿￿eS to identify any Unus￿ or relationships; ie51ed journal entrie5 10 identify unusual transaction5: 12 SOUTHAFRICAN CONGREGA TION IAdependent AttditOT¥' Report ts the Tn￿le¢S of So•ih Afrkwn Co•gre&•tlon (conti*utd assessed whether judgements arml assumptions in deterniining tlx accounlin8 estimates sei 4)111 in Note 16 were indicalive ofp)ieniial bias; and investigated ihe rati￿￿1¢ irhind si8nificanl or ￿USUal tr8nsaciions In trsponse lo the risk of irregularities and non (effeclive l January 2019) (Charilies SORP (FRS 102)), the Financial Reporting Siandard applicable in the UK und Republic of Ireland (FRS 102) and the Companies Aci 2006. The Charity meeis the definiiion of a publie benefit enlity under FRS 102. Asseis and liabilities are inilially rccognised at hisiorical cost or Irdnsathion value unless otherwise stated in the relevani accouniing policy noie(s). The principal accounting ￿lICieS adoNed in the preparation of the financial SlaienEn15 are s¢t out below. b. Goiiig concern At (he ume of approving the financial 51aiements, the trustees have a reasonable expectation that the charity has adequa* resources to coniinue in operational exisience for the foreseeable fuiurc. Thus. the trusiees continue io adopt the 80ing concern basis of accouniin8 in preparing the financial statements. e. litfonnation aiid legal s1É7lus of ihe cliarity The chariiy is a company limilcd by guarantee and has no share capiial. The charity was incorporated in England and Wales on 21 February 2013, with Company no. 08413216. It was also registered wilh the Charity Commission for England and Wales on 5 Ma￿h 2013 with Charily no. 1151071. The registered office is 34 Pinewood Garden5, Southl)orou8h. Tunbrid8e Wells, TN4 ONN. d. Income Donatlons and legaeies: Voluniary gifts and donations and other income are accounied for when received by (he charity. Glft ald: Claims are accoun(ed for on an accruals basis. Charltable actlvltles include all the activilies and events arranged by the ¢hariiy for its Members and for which members have to make a paymenl or a contribution to cover COS￿ or to panicipate. These in¢lud¢ camps. trainin8 course5, discussion groups and small groups. e. Expeiidilure Expenditure is accounted for on an accruals basis. Mi&sions and evangelicAI work is charged in the year the amouni ha5 been commiiied lo. Cost of church activities includes ihe salaries of the ministers and (he ren( of ihe church buildings. Also ineluded are ihe expendiiure incurred for the dilfereni aciiviiies perfornied by the Charity and include costs of youth camps. Irainin8. Sunday schools, refreshments. translaiion services, IT supp)rt and maintenance of the website, speakers. prayer groups. music and other activiiies. They also include the costs of activiues and events for which ¢ontributions are teceiv¢d from members per note Ic abova 17 SOUTHAFRICAN CONGREGA TION Supporteosts include ihe salaries ofall employees appointed to assist in ministerial aclivilies, the Ministers, housin8 eo4 travel communication ¢osl& and other supporting costs. Governanee Costs comprise costs for the nuining of the charity itself as an organisation and include the cost of the employee responsible for the accounting of the charity. Tanglblejzredassets anddepreCl￿ioll Tangible fixed assets are carried at the lower of cost aThl net realisabl¢ value. All tangible fixed assets transferred from the unincorporated charity, as explained in the Trusle¢s' R¢por¢ have been transferred at fair value. All assets purcha￿1 in excess of £50 are c•pitalised and an impairnient assessment is completed at each financial year end to ensure that the realisable value is in excess of the c￿]ng value. If nol an impairment write-off is made. tkpreciation is provided at rates calculated to write off the cost Icss residual value of each asset over its expected useful life on a slraight-line basis as follows: Equiprnent 3-5 years Furnilure and fittings 5 years Deprttiation is provided on buildin8s at 2% annum. 8. Penslons The pension Costs charged in the financial statements Teprcsent the contribution payable by the charity for the period. Contributions are made lo defined contribution schemes in South Africa and in the United Kingdom. h. Fundaccounling Unrnstrl¢l¢d funds are general fiu)ds thai are available for use at the truslees, discrelion in furtherance of the ObJ￿Ilve$ of the charity. Desigo*ted thnds are unresthcted fillmls set aside at discretion of ihe trustees for specific purposes. Restrleted fmnds are those donated for use in a particular area or for a specifi¢ purposes, the use of which is restricted to that area or purpise only. L Credliors andprovlsio Crediiors and provisions are recognised where the charity has a present obligation resultin8 from a past event that will pmbably result in the transfer of funds to a ¢hinl pArty and the amount due to settle the obligation can be measU￿d or estimated reliably. Creditors a￿1 provisions are Th)rn￿llY rffognised at their settlement amount. Deblors Trade and other debtors are recognised al the settlement amount due. 2. Nel Incon￿leA￿dIfwr¢ and met in funds for the ye•r Ne¢ irKome has been derived after clw8in8: Year t• Year to Decemb¢r December 2023 2022 Deprecialion Auditors. remuneralion 23J41 23J46 7.1(Kl SOUTHAFRICAN CONGREGA TION 3. Employees Employ¢¢ Numbers The average number of employees during the period were: Year to Year to December December 2023 2022 um Employees The full time equivalent of the averdge number of employees io Employee eosts Y¢ar to Year to December December 2023 2022 Wages and salaries Social Security costs Other pension cos 378,147 27.430 59,007 464J84 293,377 23.514 69,445 386,336 The number of employees whose emoluments (salarie4 wages and benefits in kind) fell within the following bands. on an annual equivaleni, are: Year to Year lo December December 2023 2022 £60.000 to £69.999 £80,000 to £89,999 The higher paid employees, the full lime ministers, were ￿¢rUIn8 pension benefits. The total pension contribution paid for these employees and included in the employee costs aiN)ve, was £53,803 (2022: £59,499). 19 SOWHAFRJCAN CONGREGA TION No Trustee Director, nor anyone connected with ihem, excepl as explained in note I I below, received any remunerntion or benefits from the ChaTitsble Company or had any expenses paid by the Charity during the year. 4. Pension eosts Two of ihe three full lime ministers are membeTh of ihe Christian Comrnunity Pension Fund, a defined contribution fund cstsblished and managed by the Refornied Church in South Africa. All three full lime ministers are membets of a UK defined contribution pension fund. The lolal pension ￿ntribUtIOn made in respect of the minislers, during the year. was £53.803 (2022: £64.125). In a¢¢ordan¢e with the Pension Act 21X)8, the company registered for automatic enrolment with NatioMI Employmenl Savings Trust OqEST) and The PensioThs Regulator, with a staging dale of l February 2017 and a re41￿laratiOn datc of l February 2020 and l February 2023. Contributions lo NEST are made in respect of 5 ¢mploy¢¢s (31 December 2022: 5 employees), with ihe company contribution amountin8 to £2,231 (2022: £2280). Freehold prop¢rtl¢s The freehold properties represent the properties at 15 The Hayes, Langley Vale, Epsom Dow￿, Surrey, KT18 6HB, 16 Bald￿kS Road, Theydon Bois, Esse& CM16 7EB and Apple8arth, 34 Pinewood Gardens, Southborough. Tunbridge Wells, Kent, TN4 ONN. The properties ￿1¢ boughi by the Charilable Tn￿{ (se¢ Trustees. Report) in Decembcr 1997. May 2001 and April 2011 respectively, transferred io IIK Company on l August 2013. The properties were transferred io the company on l Au8USt 2013 at their fair value as at that date. de*rniined by Charl SleY￿ a Tntslee, usin8 advice and valuations fMm local estate agents. LAnd Total Cost At l January 2023 Additions Al 31 December 2023 1237,800 884J55 2.122.155 1237,800 884,355 2.122,155 D¢pr¢¢lotlon At l January 2023 Charg¢ for the year 154,917 17,687 154.917 At 31 December 2023 172.604 172,604 Net Iwok vAl*e At 31 Deeember 2023 1237JOO 711.751 1,949WI Net book value al 31 DecemE¢r 2022 1237.800 729.438 1.967238 20 soirrHAFRICAN CONGREGA TION & Otber T*ngibk Ajsets Fltthigj & ¢qolpmeNt Furnllure Total Coyt At l January 2023 Additions At 31 December 2023 28,003 5,335 33.338 5.456 17.100 22556 33,459 22,435 55.894 Deprttlatlon At l January 2023 Char8e for ihe year At 31 December 2023 15,986 5.117 21,103 4,665 1.037 5.702 20,651 6.154 26.805 Net bmk vxlue At 31 D¢¢¢rnber 2023 12335 16054 29m9 Nei book value ai 31 Deeember 2022 12,017 791 12,808 7. Debtors Year to Year to Detember December 2023 2022 HM Revenue and Customs (Gift Aid claim) Oiher debiors Prepayments and accrued income 35J79 14024 4,045 54348 26,381 833 1,471 28.685 21 SOUTHAFRICAN CONGREGA TION Credltors due wltbln one y￿r Y￿r to Year lo December December 2023 2022 A¢counlants' fee AecnKd expenses Tax and s(Kial security costs 12.731 A&109 37¥0 9J15 18.752 35.(k67 9. The Ch4rity m•d¢ grxnts to the foll•wi•g Instllntions during Ihe p¢riod: Year to Year to December D￿ernber 2023 2022 Gnnts from unrestrlcted fmnds French Children Mission Kanjanji Orphan Projecl Travelling costs in visiting missions Is.000 15.000 425 20.425 20,000 Year to Year to Dttember December 2023 2022 Gra•ts from restri¢ted hnds 'Koningsoffer' Fund Kuylsa Fund 13Jl)O 8.97S 22375 7.707 8.780 16.487 Total grants from unrestricted aNJ rtstricled fiu￿5 42.71)0 36.487 22 sourHAFRJCAN CONGREGA TION 10. Cost ofchurch aetlvltles Year to Year to Deeember December 2023 2022 Church g¢tiviti¢s and events costs Minist¢rs' remuneralion and pension costs Other remunerdtion costs Congregational Meetin￿ events and activities Rent- church and other buildings 314,079 129,136 48J94 26,163 517.772 236,435 132,836 61,681 26,197 457,149 Support eosts Housing costs General insurance Compassion relief 61,768 3,933 29,146 3,837 1,075 21,101 1,817 7,187 588 15805 23842 137,116 1,000 17,184 2,080 6,581 500 13,305 23.346 96,979 Travelling ¢xp¢ns¢s Stalionery, Calendar, Newsletters, et¢. Telephone, internet and relevant costs Staff entertainment Inforniation technology ¢osts Depreciation Totsl eosts 654W8 554,128 AA. Relaled party Iransaetiolls During the period the spouses of three ministers (Rian Steyn and Ferdie Clasen, later ffplaced by Dr Seb&%tiaan van Dyk) were employed by the charity. The minislers are nol In￿lees. Ronel Steyn. Lizelle Cla5en and Natasha van Dyk received gross salaries totallin8 £48,672 for the year(2022: £46,813). ToLIl benefits including petL%ion contributions amouni to £49,589 {2022: £47.735). Their appointments have all been made in accordance with the Charity Commissions guidance. and salaries are all al market rates. These appointments were discussed with the Charity Commission prior to the appoinlments. 23 SOUTHAFRICAN CONGREGA TION 12. Governan¢e ¢o$ts Year lo December 2023 Year to D¢c¢mb¢r 2022 Bank ¢har8es Audit fees and other sundry items Administrative staff costs Stationery and other costs 2,175 6,840 21,769 2042 33ffj26 2,279 7,100 17,066 2,350 28,795 13. Summary of Net Assets by Fund Fixed Assets Net Current assets Tolgl Net Assets Unr¢strl¢ted lunds General reserve fvnd Designated fimds Pastors, return reserve Scaling down reserve 1,978,640 136,145 2,114,785 50,000 50,000 236,145 50,000 50,000 2,214,785 1,978,640 Rt8trleted funds 'Koningsoffer' Fund Kuyasa Fund 1,741 1010 2,751 1,741 1,010 2,751 1,978,640 238J96 2217336 General reserve fund is the balance of funds available for direct allocation and di￿ribUtIO Designated funds are those amounts that are set aside to cover Ihe costs of employees who will be expected to return to South Africa at the end of their contracts. Funds are also designated to cover the costs in c&se of scaling do￿ of activities and rdRnching employee& Restricted funds are those amounts that were donated with the express wishes of the donors that they be contributed to a specific activity or organisation. SOUTHAFRICAN CONGREGA TJON 14. Ststement of Funds •ih)ill•23 Inllow Oufflow 311A2n023 UDrestrleted funds Genejxl reserve fillKI Designated fill P&stors' return reserve Scaling (knwn reserve 2230.191 593533 708,939 2,114,785 50.01)0 50.000 2J30.191 50,000 50,000 2.214.785 593533 708.939 Restrirted funds 'Koningsoffer' Fund Kuyasa Fund 7,756 910 7285 9,075 16J60 13,300 8.975 22,275 1.741 1,010 2.751 2J3&857 609193 731214 2217W6 The ]Estricted reserves represeni ihe furMb donated to the Charity for specific purposes, or where the Ch￿lty had an aciivity or evenl with the specific purpose that all donations received or surplus fuThds from the activity would be used for the advertised purpose. These furnls are recorded separately and are nomially paid over to the beneficiaries annually, or if il is one of the groups already benefiting from donations by the Charity. il is paid with the norn)al contributions from time to time. SutYi¢ient cash or short4emi deposits are available io make these payments l￿d these funds are not used for norn]al funding purposes. The futxls above 0ri8inat¢d from the following and the purposes of il are: Fund Purpose "Koningsoffer- fund Annual specifie conlributions for an advertised purp)se. deterniined by the Tn￿lee4 in many cases to support missions or ¢Aher aclivities similar in goals to the Charity FU￿[5 don￿ed ￿ a project in South Africa to provide hooling aNI school clothing to children Kuyasa fund SOUTHAFRICAN CONGREGA TION IS. Notes to tke statement of CAsb flow Re¢on¢iliation ol profit to Met easb (o•tknYinllow from operatimg aetivaties 2023 2022 ProfiV{Loss) for the year Adjustments to reconcile profit for the year to rRt cash flow from operating ￿1¥￿5 DeP￿latIOn FIna￿e I￿orne Working ￿p1￿1 mov¢menls {Increase)IDecrease in debtors 1ncrease1(De￿e￿) in Creditors (121J21) (27S6) 23Wi (S158) 23J46 (618) (25J63) 2.773 6,154 (Ih27) Net cash (oufflowyinflow frnm oper*ing activities (12S428) (291) 16. Crltlcal *¢¢ountl•g utlThgt¢s and jwdg¢m¢nts The preparntion of the fin￿￿18] statements requires management to make judgements, estimates and assumptions ihat affect the amounts reported for assets and liabilities as at the balance sheet date aTrJ the amounts reported for revenues and expenses during the year. However. the nature of estimation means thal actual oulcomes could differ from those estimates. There were no key judgements. The main a￿o￿nting eslimates are depreciatio gift aid debtors and accrual& 17. Taxatlon The charity is exempt from tsx on income and gains falling within sfflion 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent ihal these are applied to its charitsble objects. 26