SOUTH AFRICAN CONGREGATION Report and Financial Statements 31 December 2024 Company number.. 08413216 Charity registration nurnber: 115 l 071 {Rcgistcrcd in In&)land and Wales)
SOUTH AFRICAN CONGREGA TION CONTENTS Page Admlnlstratli'e detalls Admini%lrutive dclails Reports Tni%l¢L (lir¢c¢or%' rerrt>n Independent Audil()rs' report 10-1.1 Financial statements SiaiLniLnl ot'coiiiprLhcn51I.'L incom¢ Statenicnt of financi121 posilion Statemcnt of cash flow Principal accounling polici¢5 and Nol¢s lo th¢ a¢¢ounls 14 16 17-26
SOUTH AFRICAN CONGREGA TION CORPORATE INFORMATION CharltTr' name Souih Alricaii L'ongr¢8lllion Registrations Coiiipillly nuiiiber.. 08413?16 R¢gisl¢r¢d w iih L'liarily Conijnission for England and Wal¢s - Charity r¢gislralion numb¢r: 11 $1071 Directors 'illeni Beumer Eiieiinc (iOiIWS Frans Haniinaii Jolian Nell Charl Sicyn Jacobu5 Thcron Mornc van dcn Hcrg Jacobu4 1.()uis van Plct5en 'vnand Vilj()L'n mariu.s vL.rn1k Rcsi Company secretarv Riiin % %IL"yn Registeri.d address ApplL&I(lrth 34 PinciN'c)¢)d Ci4irdL'ns Siiuihbi)rL)ug,h Tunbrid&iL WLII KLnt TN4 ONN Bankers HSLIC, ljank l>lc 65 Packli()I'%L Rodd Gerrard% C'ro% BuLkitighi1111Shire SL9 8PII Audltors Di1.1d I I0,1rd Chiinered Accountanls I Park Road H4iinpion Wick Kingston upon Tl)ames Siirrcy KTI 4AS Website
SOUTH AFRICAN CONGREGA TION TRUSTEE DIRECTORS, REPORT The Trustee Directors present their report on the Company for the year ended 31 December 20?4 which ]% al%0 prc'parcd lo MLLI Ihc rcquirLmLnlts of a DirLciors' rcpon and iqcLounls for Coinpanie8 Act purFx)ses. Thc financial slatcinLnts comply with Ilic CharitlLS Act 201 l. thc Coii)panics Act ?(K)fi. thL ML'morandum and ArtlLIL'% of AssoLlati(In, and ALcoiinlingv and IIL'porling by L'harilies: SiaiLmLnl of RLcoininLndLd Praclicc applicablc io cliarillLS prcparing Ihiir accounls in accordance with the F'inancial Reporting Standard applicable in ihe UK and Repiiblic ot" Ireland (FRS 1021 l¢ffcLlivc l January 2019). Objeclii'es and #cli&ilics Thi L'oiiipi111y wa.s incL)rporated on 21 Fcbruary 2013 for the public benefit. writh thc objcctii'e Io cidi'c'lllLL' IhL' C'hri%liiin f4iiih in IhL' UnilL'cI Kin¥dom and IhL' worldi (IS IhL' TruslL'L'S may LIL'LidL'. and io lultil such nthcr pur8¢$ whicli arc cxclwsl.eIY charilablc accnrdii)g io thc law ot. England and Wales and relate to the chaTil<lble work of ihe C'ompany. On l 51 of ALlglU.%t ?0 I l ihc ¢liarit<1blL trust Soiith AfriC1n Congirc%giJtion. LrLatLd on 24 Scptcmber 1994. IranbfLrrLd all ilb &5SL15. liabililiLS. fLbLrvcs and dLliN'iliLS to ihL Coiiipany. The Coinp4iny is LSliibli5hLd io advance the Christian reli¥ion in the Unilcd Kin¥dum and clscw'hcrc in accordanc¢ with ils fundamcnlal belicfs that ar¢ csscntially b&sed on the Reforni¢d Confetssivn. The South At'rican L'on¥regcltion is commitled to: n41bling as Inany pLoplc as pos%iblc lo worship al our church SCf*'iCC and to bccomc part ot'the activities ot'the Church: -4UPPOrt a numbcr of missions and rclatcd charities insidc and out.4idc ol"EiigFland. with IhL' iiiain gi0<ils uf %prL'41din¥ ihe gospel to all groups dnd nalionb and lo support ind1.1dua1S and gyrnups in nccd: 'ork w'itli ihc local coiiimunities and action groups in thc arcaQregions where thc C'oiiipilliy h¢14 ihurch ser.1¢, Thc congrcgation consists of confessing mcmbcrs and their childrL'n, living within thc United Kingv(loin. Whcn pl¢111ning thc ¢icliN'itics for ihc ycar. thc South African Coiigrcgalion considcrcd ihc Coinmi%%iun % byuiddnLL' on publiL bL'nLfit, and partlLularly IhL' SPLLI fiL bwuidaiiLL' on Lh4iriliL% for thc adi'aii¢ciiici)i of. rclibjion. Wc endcaN'our io cnablc ordinary pcoplc to livc nut ihcir taitli as Pdrt ofihe community Ihruu¥h: worship and prayer; Icarningi aboui the Gosp¢l: deN'Llopin¥ IhLir knuwlLd¥L 41nd trust in Jesus; proN'ision Of pastoral LarL" for rnLmbcrts and oihcrs in nccd; and Missionary and outreach work, Achievements and performance Coniribulions from membcts for the financial ycar lo 31 Dcccmbcr 2024 cxcccdcd ihc budbicl. Looking ton¥ard. it 1% expectcd that Ihc financial hard%hip ihat arc followiii&? Ihc incrcasc in infl4ilivn and hig,IILr lilX411ion. may hiiVL an adi'ersL' impaLI on IhL Loniribulions. ThL need for support ol- niciiibcrs aiid the w'ider conimunity is expcctcd (o increase. The Company continued with ihe services of ihrec full lime ministcrs during the financial year. Dr Rian Steyn was responsible for the London and Maidstone wards, Dr Sebastiaan van Dyk
SOUTH AFRICAN CONGREGA TION
",as rcsponsiblc for the Soutli ward and Rev Andre Harm7en re%wJnsiblL for the North and
Midl(Ind5 ward5. The Coinpany <1150 employed a minister on a part time b
SOUTH AFRICAN CONGREGA TION actiN'ilies deinonstrate the need for such a Coinpany. The church and w'orship services are also reguli1rly atlended by a number of E'nglish-SP¢iiking people <15 lii'e tr<inslalion services are aN'ailablL ai sLfi,'iLLS. Thc diffcrcnl wards of ihc church inicracl with local charitics and lo&)cthcr Ihcy dcvclop strategies to reach out to local communities and schools and participate in local eN'enls. Conlribiitions to foLMlbdnks dnd oihLfs in need Lontinued throughvut the y¢<if we believe that hLlping ihosL in neLd is a demonstraiion of our failh. The South African Congregalion is a member of ihe F.vangelical Alliance. The Tslee5 have complied with the duty in section 17(5) ot.the L'haritics Act 201 I to have duc rcgyard lo guidancc publish¢d by Ihc Charity Commission on public bcn¢fit. Finanei#l review Thc total unrc%trictcd collcclions and donations for thc 2024 financial year amountcd to £474k (?023- £457kl. ThL' Lonlribulions in respcLI of rL'StriLILbd funds WLrL £9k {20?3- £16k). while Gill aid contribulcd L911k {2023', £1(Nk) and incomc from investment% L4k (2023: £5k). Activities and events income amounled 10 £44k (2023: L23k). After expenses in respect of iinre4tricled funds of L691k (2023: L709k), the L'ompany recorded a dLfiLiI of £71 k {?02.3., £ I l.sk ). r,XPLnses in rcspccl ofrcstricicd funds ainoLilliL(I tc) £ I I k l ?0?.3- £22k). resulting in a deficit ot. £2k (2023: £6k). The main driver of the deficit was intl£ltion rL'lalcd. ThL finiillLiiil p()siliun rL'mains slablc. wilh L4lsh rLsoufLLS of L156k (.1 I DLLcmbLr ?023- £222k) wliile the Board continues with a concerted eflort lo incre&se collections and donations. The Trustccs do noi forcsce any material change in ihc activilies in thc coming year. Thc Trustees Lonlirmed the conlinualion of the church serviLes being ditailiible not only Jl the ditTcrcni placcs ofworship. bul also via ihc digilal platfoms. Thcrc arc a numbcr of pcoplc from around Ihe 'Orld who continue lo lune in to tlie digTltal .%er%'ices as li provide% an opportunity for oplc lo join in lo a s¢rviLL alihough ihLy do noi livL closc cnougih to allLnd a Lhurih scrvicc in PePiQn. The structure of the ministry, execulion of ihe slrategy and location ot. services are assessed annudlly al a strdtcgic plannin¥ mcctinB whcrc thc latcst inforniation about InL'mbLrs. conlribulions, Goi.'crnmcnl policy on visas and work pLnnits and oihLr fallors impa¢tingTr on activilics. arc con%idcrcd. A ri.%k rcgFjStcr is m<1inlaiiicd to 11 %%iSt thc Tru4tccs wilh Ihis cvaluation. From this forum short and mLdium-t¥rni plans ar¢ dci'¢lopLd. ThL Company rLports in dLLorddnLe with AcLounling and RLpurting by ChariliLS: SiatemLnl uf Reeoinmended Practice applicable to charilie.s preparing iheir account% in accordance with ihe FindnLidl RLpDrting Standard iipplicablc in ihc UK and Rcpublic ot"Irclund (FRS 1021 Icffcclivc l January 2019). Rescrve$ and fund$ Reserves consist of all retained income available to the L'ompany and exclude the designated funds and thc rL'slriLILd funds. The r¢?*cr'¢S ofihe Church arc considcrcd 10 bL' surricicnt for Ihc sliort and iiiLdiiiiii tenii. I lowever. due lo Ihe facl iliat all the acliN'itie% arL iiiaiiilv fundcd froin wLckly and ii)()nihly d()nalions from ihc congrc¥)alion mcmbcr%. il 1% LonsidLrcd prudcnt ihai Ihc Coiiipany slioiild niaintain re.serves that are suflicieiit to support at least one year s planned activities. ThL Compdny also bought properties wrhiLh dlt nol only ilL¢omiiii)d<ilion for th¢ ministers. bul also serve &8 offices for ihc diffcrent wards. The purchasc priccs of thc propcrtics. in excess of depreciation, was also funded by the dccumulated reserves.
SOUTH AFRICAN CONGREGA TION
Designatcd funds arc sel up to provide sufficient resen'es to fund all cost% of rcturning the full-
time ministers to South Al"rica, in <1ccordance with their employment contr(ICts. The general
unrLStriLILcI KsLfw'Lb al yLar-cnd amouni 10 £2,144k (?0?3- £? ?15k).
Plans for the future
As part of ihc annual %tratL'gic planning by the Truslccs, an assc%smenl is iiidde of Ihc
mLmbLfsliip. Ihc conlribulion% by the mciiibL"rs and ihL main arc&4 hrL InLmbLrs lifv'c. agtrain81
thc placcs ii'hcrc %unday scTh'ices are held and the facilities availablc al thcsc placcs ol"ii'orship.
Total mL'mbLr5hip numb¢rs lind Lonlribulion5 sl¢ibilised biii ihere are 41150 somi mov¢m¢nls in
thc mcmbcr4hip numbcrs bclu'ccn ihc dificrcnl wards. Thc main considcratioils of'ihc Trustecs
are the ongoing findnLial sublainability of the wards in total. but Lonsider<ilion is also given lo
each of the places of worship.
Su1¢1¢nI res¢rv¢s and an adcquale cash balancc provide comfort Ihat Ihc a¢tivili¢s can continuc
for thc %liort to Incdiiim tcnii. Dcpcndiiig on trends in mcmbcrship ¢111d contributions, thc
TruslLLb hdvL the Opiions of LiihL'f Llosin¥ one or morL' ofthL plaLL'S ofw'orship. or Lons0lid
SOUTH AFRICAN CONGREGA TION Rlsk mana%ement ThL Mdn4lg'Ltncnl C'ommittcc Ilnnually conducl a rcvicw of Ihc m61jor risks to ii.hich ihc Charity is exw)%ed. A risk regi.ster is iiiainlained and updaled ,1)ere necessary. Wliere appropriate. system5 dnd pro¢Ldiires have been estdblished to mitigate the risk5 filC¢'d by the Chilrity. Intcrnal control risks are minimiscd by the implemeniaiion of pmcedures for auihorisalion of all expen5CS, tnllS<lLtions and projects. Procedures are in placc to cnsurc Loiiiplidncc wilh hcalth and safLly of%lafi'. church mLmbcr%. iioluntLLrs and vi%itors. ThLSL prLdUr arc PLriodically rcVie,ed to crj.surc that they contiJ)ue to meet the needs ot.the C'harity. WhLfL appropriate. risks are Lo%'¢r¢d by in511fdnie, However, in a55es5ingw risk, Truslees rLLugvnis¢ Ihdl somL' ¢if¢<15 of ils work rcquirc thc acccptancc and managcincnt ot.risk it.lhc kcy objc¢iivc% arc 10 bc acliicvcd. The major ri%ks. documentLd in the risk regisler. are idLnlifiLd and ranked in tcni)s of iheir potenlial impact and likelihood. Major risks. for this purpose. are those that may have a sibnifi¢dnt Ll'l¢cl on: ()pcrntional pcrfomiancc, including risks to our pcr40nncl, mcmbcrs wid thc gencral public: FinclllLial sus141inabilily, illLludingv stsbiliiy and securily of inLome' ALhiL'vcmL'nt of our aimb and objcLIivLS: or MLLling IhL LxpLL141tions uf our mLmbLrs. missiun Pdrtncrs and loLal Lhdrilics with wl)om we serve ihe local cominunity. The followinsj framework is cenlral lo ensuringi adequaie risk assurancc: Regular nioniloring of major risks and devclopmcnt of action plans; Embedding risk identificalion and asse55menl w'ithin operating procedures, A clellr .slriiclure of delegaled authority and control: Rcvicw ol. kcy systcms and proccdurcs. Ini()mL Ind prufil largiLI.% for IhL ditTcrcnl 14,14 rds, wilh regu14qr communicalion to InciyibLrs ahoui ihc I Inancial posilion ol. Ihc C harity: Maiiilainingj rescrvcs in linc wilh sct policics. and R¢biilar di%¢ussion on ri%k manab?cmcnt by thc Trusl¢cs. Risks dfL' also LonsidLfLd and addrL.55L ab part of IhL annual slr<ilL'giL fLViL'W. It is funhLr rci'icwcd wlicii thc budgyct 1% prcparcd aiid al%(J al the rc&)ular Tru.stcc incclings where thc inLome, expenses. Lash IIuw's and insuTanLe are disLussed. Grants In accordancc with ihc principlLs of ihe Christian faiih. thc TruslLcs bclicvc thal thc 41di.'anLeiii¢nt ol" Ihe L'hristl<in b¢li¢t" (ind comp¢ission r¢li¢t" are iii¢xtriLiibly linked to clich other and cannot bc scparalLd. Coinpassion rclicf is given to Co.cr urgLlli co4t% of inciiibLrs ot" Ihc congreg<l1ioii during times ot" need. Likeii'ise, the support of other L"hrislian initiatives and org141llis¢ilions arL ?+Lcn a?+ pan of IhL rLsponsibilillcs of IhL Lonb7rcb?aiion. ThLfLforL. in addilion to orgjanisingj Ilie main Church aclivities. the C harity also provide% gyrant% lo otlier in%litutions Ihal sUPPOrt ils aims. Thcsc grants arc approved by ihL TruslcL's and oi'crsccn by ihc Management Commitiee. Grnnls provided are shown in note 9 to the accounl.s. Investment Pom'ers The Memorlindum of A550¢idlion authorises the Trustees to mdke and hold inv¢stm¢nts using the bjcncral funds of thc Charily. The cash funds of ihe Charity arc kcpt on a onc-day money market deposil aLcounl with the Company's banker. No other investments were made. A slralcgic dccision was tak¢n lo purchasc thc propcrtics ihal arc providLd to thc full-limc Ininistcrs as iesidences. as detailed below.
SOUTH AFRICAN CONGREGA TION
Investmenl In Ilxed properti,
ThL TruslL'Ls bLliLvL that IhL goals of thc Chariiy could bc ihc bcst %crn'cd by acquiring ihc
residential properties needed io proiiide accommodation to the tull-liiiie ministers. This
eliminates the risk of increasing rent
SOuTHAFRICv CONGREGA TIQN David Howard was apInted as the Charitable Company'8 rst auditors and h8vc express their williw¢ss to conlinue in that capacity in accord with Se<tion 487(2) of the COMPleS Act 2006. Accountin8 and Rewting by Charities (SORP (FRsiif2)) and in accorkn with the Sp1 provision of Part 15 of th¢ compani Act 21J06 relatiD8 to small tt¢S. Approval Morne Ch eo B¢rg 025
SOUTH AFRICAN CONGREGA TION Jndependent Auditors, Report to the Trustees of South African Congregation We hai'e auditLd ilie fiiiancial stalement.s of Souili African Congregation for tlie year ended 31 DeL¢mber ?024 w'hiLh ¢ompri5e the slalemenl or rinlilliidl &lLlivilies. the bdlcince sheel dnd the rL'laiLd noiLS. ThL financial rcportinbF framework Iliai has bccn appliLd in iliLir prcparalion IS dppIiLable law and the F indnLial Reportingi Standards iiiLluding F inciiiLial Reporting Standard 102: Thc Financial Rcponing Siandard applicablc in ihc UK and RLpublic of IrL"land Iunilcd Kingdoiii Generally Accepted Accounting Practice). In our opinion. thc financial stalemenls: giN'e a Iruc and fair I'ievii of the slate of the Charity's affaiTS as at 31 December 2024 and of its incoiiie and cxpcnditurc for the year then endcd; liae been propcrly preparcd in accordance with United Kingdom (iencrally Accepted Accouiiiing Practicc: have bccn prcparcd in accordance with the rcquircmcnts of thc Coinpanic8 Act 2(K)6. BA$is for opinion 'L LonduLILd OLir audil in accordancc with Inlcrnalional Standards on Auditing (UK) {ISAs (UK}) and applicablc law. Our rc%ponsibilitics undcr ihos¢ standards arc furthcr dc%cribcd in ih Auditors respoiisibililie5 for the audil ot" the financial staleinents %eclioJ) of our report. We are indLPL'nclL'nt of lh¢ Lh4irilablL Lompany in aiLordancL Ii'iih IhL' ¢ihiLal rL'quirL'm¢nls Ihal ar relefv'ant In ()Iir lludit of'ihe linancial %lalements in ilie UK. includingi tlie FRC"'s Ethical Standard. and , ha. lul li IIL'd uiir oihLf LtliiLal rLsponsibililiLS in ilLLordanLL Il'ith ihLSL fLquifLIIILnls. We believe that tlie audil evidence we have obiained is sutlicienl and appropriale lo pro.Ide a basis for our opinion. Concluglons relatlng to golng concern WL hill'L noiliiiibT lo rlport in rLspLLI ut. Ihc following mattcrs in rclation to which tlic lSAs (UK} rcquirL lo rLP()rl 10 you whLrL: the truslees. use of the going concern basi4 of accounling in the preparation ol. the tinancial .statements is not appropriate; or the trustees hai'e noi disclosed in ihe financial slatements any identified material ui)¢ertaii)ties tl)at may cast 4ignilicanl dnubi about tlie ("harity'4 abilily tn continue to adopi tliL g)oing conccrn basis ot. accounting lor a period ol- ai Icast Iw'clvc inoiitlis Irom the date when the tinancial .statements are authorised for issue. Other Informatlon The Iruslees are responsible for the other inforniation. The other infonnation Lomprises the inforniation includcd in the annual report oihcr ihan ihc financial statcmcnls and our audilor's report tliereoii. Our upinion on ihe fin<incial sl<lteiiient5 does not cover the other infomi<ltion and. cxc¥pi lo ihc cxlcnt oih¥rwisc cxpliciily stalcd in our r¢porl. wc do not Cxprcss any fonn of assurancc conclusion ilicrcon. In conncction with our audit of thc tinancial stateincnLs. our rcspon%ibility is to rcad thc other informdtion dnd, in doin¥ so, consider whether the uiher infonn&ilion is maleridlly inLonsisleni with th¢ financial stalements or our knowledg¢ obtain¢d in ih¢ audit or otherwis¢ appears lo be 10
SOUTH AFRICAN CONGREGA TION Independent Audltors. Report to the Trustee5 of Soulh Afrlcan Congregat5on (continued) Inalerially mi84tdled. If we identify such material inconsistencies OT apparent malerial misslatLincnts, wc arc rcquircd to dclcrminc whcihcr ihcrc is a malcrial missialcmcnl in ihc finajicial .siatenieiits or a material misstalement of the other int"oniiation. Il.. bELsed on ihe work '¢ have p¢rfum]Ld, we ¢onLlud¢ Ihdl there is d matLridl mi5slalLmLnt ofihis oiher inforniiltion, we are rLquifLd io report ihai faLt. 'e haN'e noihing io reFK)rt in this regard. Opinions on other matter5 prc5cribed b). the CompYdnie5 Acl 2006 In our opinion, based on the work undertaken in the cour8e of the audit: Ihc infornialion givcn in thc trust¢¢s' r¢p)rt forth¢ financial yLar for which the financial slatcinents arc prcpared is consistent PIth the financial slatcmLnts' and Ihc Inislcis, rcwrt (incorporaling ihc stralcgic rcport and Ihc dircclors. rcporl) has Ixicn prLparid in acLordancL will) applicablL Icgial rLquifLinLnts. Matters on which we are required to report b). exception In Ilic light of iliL kii()wlcdg?L and undcr%tandingy of iliL Charity and it4 Cli ir()niiiLnl obtainLd in IhL cvursL ol. thL <iiidit, II'L liai'c nol idciitiliLd m41tLriiil misst¢ltLIl)Lnls in thL -l-rustLLs Annual RLlXlrt. WL hai'L ni)IliinbT lo rcport in rc%pLYi of ihc fL)IlowingJ iMallLr% in rLldlicin to whicli IhL Coiiip<iiiies ALI 20UC) rL'qLiircs us to report to you if, in our opinion: adcquatc accoiinling rccord4 have noi bccn kcpt or rcturns adcquatc for our audit liave iiot been received from branches not vi.si(ed by us. Ihc financial slatcmcnts arc not in agrcemenl with thc accounting rccord.s and rclurns; ccrlain disclosurcs ofiruslccs, rcmuncralion spccificd by law arc nol madc: or we hilVL nol obidinLd dll ihc inforniation and explanations nLLLssary for the purwses ofour audil. Responsibilities of the truslees As explained morc fully in ihe truslces. responsibililies stalemenl sel out on pagc 9. Ihe Iruste¢s arc rcspon%iblc for thc prcparation of thc tinancial sthlcrncnts aiid for bcing satisticd that ihcy give a tru¢ and fair N'icw. and for such intLrnal control as ihcy dclenninL is ncLcs8ary io cnablc thc prcparation ot" Iinancial statements that are free from material misstatcment. whether due to frdud ur Lrror. In preparing the financial slatements. the trustees are r¢sponsible for assessing the Charity s ability to continue as a going Conccrn. disclosing, as applicable, matters rcl<ltcd to going concern and usingy ihL byoinb? conLLrn basis of aLcoulliingT unlLs5 ihc iruslCLS ciihLr intLnd to liquidalL ih L hariiy or to LcasL OPLration5. or havc no rcali5tic altcrnatiiie but lo do 50.
SOUTH AFRICAN CONGREGA TION Independent Auditors, Report to the I'rustees of South African Con%regation (continued) Our responsibilities for the audil of the financial statements Our objectives are to obtain reasonable assurance about whether ihe financial statements as a tholL' dfL' frL'L' from iiialLrial mi5stalL'mcnl. M'hL'ihLr duc to fr£iud or L'rror. dnd lo issuc an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance witli ISAS (UK) will alway5 delect a malirial misslalimlnl whin il ¢xists. Misslal¢mLnts Can aris¢ from frdiicl or crror and arc considered Inatcri£il il.. indiN'idui111y or ii) the aggreg7ate. they could re£lson£ibly be expecied to influLllLL' thL LLonomiL dLLisions of usL'rs lakL'n on iIiL' basis of IhLsL' I IndiiLldl slalLmL'nls. Misstatcmcnls Lan arisc from frnud oreor and arc considcrcd matcrial if, individually or in thc ag&?r¢gat¢, Ihcy could rca%onably b¢ ¢xp¢ci¢d io influ¢n¢¢ ih¢ ¢conomic dccisions of uscrs lak¢n on the basis of thesc financial statciiicnts. Irrcgularities, including trnud. arc instances of non-compliance with laws and rcgulation.s. Wc dL4i¥n proLLdurL% in linL with our respon%ibililies. ouilinLd iilKIVL. lo dLILcl mdlLrial misslatcincnts in rcspect of. irregularitics. including fraud. The ¢xt¢nt lo w'hich our proccdur¢s arL' C¢lPiiblc (pf dclLcling irrLgulilritiets, includin¥ fraud is dcliiilcd bclow: Our ppfoclch lo identifying and £i%%e5singy the risk5 of mcileriill misslatciiicnt in rcspcct of irrLbyiilariliLi. inLluclinbi I r¢iud Jnd non_complianLL wilh la.4 and rLgvu1411ic)n%, Il'495 li)IIoM's: the engageiiient partner ensured ihat ihe engagemenl teain cnllectively had the appropridlL LompctLncc. Lap<ibilitiL?i and skills lo idL'nlify or rcLo¥nisL' non-Lompliance with appliiablc laws and reg)ulations' wc idci)tilicd tlic l&lWS and rcgulation5 appli¢ablc to Ihc ¢OliiP&111y Ihrougli di%cussion wilh Ini%lLLS lind oihLr mana¥L'mLni. and from our cominLrcial knowlLd¥L and L'xperienLC Ot- thc charity scctor; w¢ foLii%ed on speLifiL IdWS dnd regulations whilh we ¢onsidered mdy have a direct Inalcrial ctTccl on ihe financial slateincnis or ihc opcraiions of thc company. including %uLh the Chciriles Act 2011. taxation legislation. data prolection, anli-bribery. dnd hLalth and safciy IL•giislalion: we cis%e%%ed the extent ol. compliance 'ith the laii's and regulations identified above Ihrviigh m4iking LnquiriLS uf m<indgLmLnl lind InsLlIn¥ IL¥411 LurrLspundLllLL4 lind identi fied laws and resjulaiions M'ere coinmunicaied wiihin ille audii ieam rcgularly and Ihc team reniained alcrt to instances of non-compliance throughout tlic audit. We &sse44ed the susceptibiliry ot" the company s financial 4talements to material mi4statement. inLluding obtaining an iindersldnding ofhow fraud might OLcur, by.. Inaking enquiri¢s of management as to wh¢r¢ they considered th¢r¢ was susceptibility to fraud. their knowlcdge of actual, suspected and alleged fnud: L()nbiclLriiigF ihL inlLmal Lonlrvls in place lo mitigalc risks of frdU(l and non-compliance 'iih la,.$ ai)d rcgulatioiis. and To addrL'%% IhL' risk ol" fraud through manageinent bias and override of controls. we: rforn)Ld analyiiial proccdurcs lo idcnlify any unusual or uncxpLcILd rclalion5hips: lestcd journal entries to identify unusual transactions: 12
SOUTH AFRICAN CONGREGA TION Independent Aud6tor5' Report to the Trustee5 of Soulh Afrlcan Congregat5on (continuedl asscsscd whciher judgicments and assumpiions made in dLicrnJininb> ihc accounting c%limales %ct out in Note 16 were indicative ot'potential bi&s: and investl¥dt¢d the r411ion<ile behind significanl or unusual tranlI10n5 In response to the risk of irregularities and non-compliance with laws and regulations. We dL5igvn¢d proc¢durcs whi¢h includ¢d, bul wcr¢ not limitcd 10: agreeing tinancial slateinent disclosures to underlying.supporting docum¢nlation; reddinbl tlie ininutes of meetings of those charged il'ith governanLe' cnquiringw of Iruslc¢s iqs lo acliial and ln(lI21 lilibvalion and ¥laims' I'¢N'iLIA'iiig corrLspondcncc w'ith rLlcvai)t rcgulalors There llre inlierenl limilations in our audit procedures described above. Tlie more remofv'ed ihat law% and rLbyulalicin8 arL froiii finanLial iranqaLtion?J. IIIL ILSS likLly il is Il)at ivi ivciuld bLLC)mL ai4'dre ol'non-coiiiplidnce. Auditing %tandard% al%0 limit ilie audii procedure% required trj ideiitity non-Lompli'inLL ii'iih I,2V4'S and rLgTulalions lo Lnquiry of IhL dirL'Llors ancl oil)Lr m4inagvLmcni and ihe in4pection of TegFulalory and legal correspondence. ifany. Mdtlrial mi5sldlLmcnls Ihal aris¢ duc to fraud Lan bL hardir to dLILXt thcin IhosL ihal aris¢ fn)m error &8 they may involve deliberale concealmenl or collusion. A further dcscription of our rcsponsibililics for Ihc audil of ihc financial slalcmcnts is localcd on the F inancial Reportin&v C'oujicil s websile al- [ii'wii,. fTC.org.uL'¢ludilop%re%pon%ibilitiesJ. This dLsLfipiion fornis parl of our audilor's rcport, Use of our report This retK)rt is inad¥ sol¢ly to ih¢ charity's m¢Mr5. as a body. in accordan¢¢ with Chapi¢r 3 of Part 16 of tlic Q'oinpllnies Aci 2006, Our audit work has bccn iindcrtakcn so that wc mighi slalc to IhL charily's mcinbcr5 Ihosc mdllL'rs we arc rcquirLxd 10 5laie to thLm in an audiiof s fLpon and for n() ()Ihcr puryx)%e. To ihc fulle%t cxtcnt peniiilled by la,, 'C do not acccpt or a%%uinc rL'%pon%ibi lily to 4inyonL Othcr Ihdn IhL chdriiy and IhL Lhiirity's mLmbL'fs d5 41 body. for uur 41udil 'ork. lor Ili1% rLport, or lor tIiL opiiiion% w¢ haN'c loriiicd. LAk Philip Lane TrCCA Senior Slatutorv Auditor For and on behalf of Davld How'ard Ch#rtcrL'd Accvuntunt5 and Statutor) Auditor5 I Park Road Hampton Wick Kingston Upon Thames Surrei, KTI 4AS Date: Z9 2025 13
SOUTH AFRICAN CONGREGA TION Statement of comprehensii'e income (includinkF Income and Expenditure account) for the vear ended 31 December 2024 Unrestrlcled Re&lrleted runds funds I'otAI Total Notes 2024 2023 Income: Donalions and LcgaLics: CollcLtions and donations Ciift aid claim Incomc troin Inl'cslmcnts Id 473,791 97,973 4.087 43.792 483,056 97.973 4.087 43,792 473.041 1011.696 5.158 22,998 IncomL from charilablc a¢tivili¢s - ¢v¢nts TolAI Income 619,643 628,908 609.893 Fxpcnditure F.xpenditure on chariidble aclivilics: Missions and cvangclical work Cosl of Church allivilics GuvLrnancL Losls le 16.828 636,008 37.836 690.672 27.999 6.16,008 37,836 701.1143 42.700 654.888 33.626 731.214 10 12 Total expcndliuri, et Incomel(eipcndllurc) and net moi'L¥mcnt An funds lor thc )'iiar (71.029) {1,906) (72.934) (121.321} Reconclliation of funds Fund balancLS at l January 2,214,785 2,217,536 2.338.857 Fund balances at 31 December 13 2.14.1.756 2.144,601 2.217.536 All the Congregiation's operations are classed as continuing. Movcmcnts on rcscrvcs and all rccogniscd gains and losscs arc shown abovc. 14
SOUTHAFRICAN CONGREGA TION StatsmeDt of TrIoAnclal Posfidon at 31 Dttember 2024 2023 2023 Notes Flxed assets 1237,800 697J33 1237,800 711,751 29.089 1,978.640 Buildings Other tangible &ssets 1959Jll Current Amets Cash at bank and in Iwid 15517 21&911 (33011) 185,1(Kl 222.488 276.736 (37.840) 238,896 Creditorn within one year Net current amets Total Asts cnrrent Ilabllltles 1144,601 1217.536 Net asRts 13 2,144,601 2217,536 Funds Unrestricted reserves 14 14 14 2,143,756 2214.785 2,751 2217,536 Total Funds 2.144,601 Companies Act 2IX)6 and stion 138 of the Ctwities Act 2011. Th&8e accounts arc prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irelw (FRS 102) (effective l January 2019)- (Cbariti&s SORP (FRS 102)). The financial statements on pages 14 to 26 are hereby approved: Name: Morn¢ v d¢D B¢r8 Date: 2025 15
SOUTH AFRICAN CONGREGA TION Statement of Cash Flow for the year ended 31 December 2024 2023 2023 Notes Net cash (outflow)/inflow from operating activilies In'esting actii'ities Interest received 15 (62,822) (125.428) 4,087 5,158 Payments to aLquire tangible fixed &%sets and improve prop¢rtieS {7,9.36) {22,435) Net cash flow froin investing activities (.I,849) 117.277) Increa%e/( Decrease ) in Cash and cash equivalents (66,671) (142.705) Cash and Lash equivalents at l January 222.488 365,193 ca.sh and cash equivalents at 31 December 155.817 ?22.488 Thc fin<iiiLial 51alL'mcnls arc prL'parLd in acLordancc wilh Ihc SPLLial proN'isions of Ihc Comp4iniLs ALI ?006 lind SLLtion 138 of IhL ChariliLS ALI ?0 I l . ThLSL IlLLC)Linls arL pfLPiifLd in accni'dance Vs'itl) Il)e fiiiancial RepnrlingTr Standard applicable in the UK and Rlpubl ic ot. Ireland (FRS IU?) {LftlictiN'c l Jdnuary 201Y)- (Lharilics SURP (FRS IU?)). 16
SOUTH AFRICAN CONGREGA TION Notes to the Financial Stalements for the year ended 318t December 2024 l. Accounting Policies BaJ•iJ ofpreparalion Tlic accouiits include the results of the charity's operations which are described in Ihc Tnistccs Rcport and all of which arc continuing. TIIL finanLial slalLincnls h(Ive bcen preparLd in aLLordance with Accounting and RLp(irtingy by ChariliL5- SiaiLmcnt ol"RLL()minLndLd PraLlicL appliLablL) t() chariliLs prcpariiig ihcir accounls in accordancc wilh thc Financial Reporting Standard applicable in tlie UK and Republic of Ireland (l•RS 102) (effective l January 2019) {ChiiritiC5 SQRP (FRS 102)), thc Finsillciiil Rcp()rtiiig Standard applicable in the UK and Republic c)I' Ircland (FRS I O?) and ihe CL)mpanics ALI 2006. -rh¢ Llidrily m¢Cts the d¢fiiiilioii of a publiL bcncfit ¢nlil)' und¢r F RS I O? Asscts and liabililics arc initially rlcogniscd (It historical iosl or trantraction valuc unless oiherwi.ge %iaied in ihe relevani accouniing policy noie(4). Thc principal accounting policies adoptcd in thc prcparalion of thc financial statcmcnts arc sct out bclow. b. Gcjinx ciincern Ai ihL tiniL ot. approving the financial statcments, the tni8tee8 have a reasonable cxpcclcilion that ihc charity has adcqualc rcsourccs lo continuc in opcrational exisience for ilie foreseeable fuiure. Thus, the irustees continue to ddopi the goin¥ c()ncem ba%is ot. accounting in preparing ihe financial statements. liiformaiion and leApal .flalu.s of ihe chario, Tlic Lhrfirily is a Loimpany liniitLd by giUdranl¢c and hi1S no sharc C4ipilal. Thc charity was inL()rpi)rdlLd in F.ngiliind iind Wille% on 21 FLbruary ?0 1.3. i¥'iili C()mp(Iny ni). 011413216. li was al40 rc&)islcrL"d iiiiih ihc C'harily C'oinniission for En&¥laiid and Wales on 5 March 2013 wilh Charity no. 1151071. Tlie r¢gyi%tercd office 15 34 Pinew()od Garden5. Souihborough, Tuiibrid¥e Well5, TN4 ONN. liic'i)me Don4tlon$ and legacles: Voluntary giifts and donations and other income are IccuuntL(I for ,1)£.1] rLLLiN'ed by ihe chiiriiy. Gifl aid: C'laims are accounted for on an accruals basis. CJRS grant: Thc C'oronavinis Job Retention Scheinc grant was rcccivcd in rcspccl of personncl on furloiigh and 1% accounicd for on an accrual basis. Charltable actli'illes include all the activilies and events arran¥ed by the charily for its mcmbcrb and for which mcinbcrs havc to makc a paymLnt or a contribution to cover costs or to participale. Th¢s¢ include camps, training COUTS¢S, discussion 7roups and small groups. E.Ipendilure E.XPLndilurL is accountcd for on an accruals ba.sis. Ilsslons and eTrangellcal M'ork is charg¢d in the year ihe amouni has been LC)nimiltLd tc). Co>•t of Lhurch aclivitie5 includes the salaries of the ministers and tlie rent of the church buildings. Also included are the expenditure incurred for the different activilics pcrforn]cd by thc C'harity and includc cosls of youth camps, training, Sunday schools. refreshments. translation services. IT support and maintenance of Ihe websile. speakers. prayer groups. music and oiher aciivities. They also incliide Ihc Lvsls of (ILlivilics and Lvcnls for which contributions arc rccLivL'd from mLmbcrs per note I c above. 17
SOUTH AFRICAN CONGREGA TION Support costs includc the salarics of all cmployccs appointed to assist in Ininistcrial activitics. the Ministers. housing costs. travel and communication costs. and other siipporting costs. CJOI'ernance costs comprise the cosl.s for thc running of ihe charity itself as an c)rgani%atiun and in¢lude ihe Lobl of th¢ employee responsible for the &lLcounting of the Lh<irily. TaiiRiblefLYed a.%.sel.s and depreciation Tangiiblc fixcd asscts are carricd ai ihe lower of cost and nct rcalisable value. All tangible fixcd assets transfcrred from the unincorporatcd charity, as cxplaincd in Ihe Trusiees, Report, have been Iran%ferred at tair value. All asset% purchased in exces% 01" £50 are Lapitali%ed and an impaimieni as5e5%menl is completed ai eaLh fiiiancial year end to en%ure that the reali5iible value is in exLe%s of ih¢ Ciirryin 'alue. If Iiol, an impdirnient write-off is made, Deprecialion is provided al rales calculated to writc off thc cost Icss rcsidual valuc of cach asset ovcr its cxpcclcd usct.ul lit"L on a straight-linc basis as follows: EquipmLnt 3-5 years Furniturc and fittings Depreciation is provided on buildingt+ at 20/0 annum. g. Pen.sion& The pcnsion costs chargcd in thc financial statcmcnts rcprcscnt the contribution payablc by ihc charity for ihc period. C'oniribuiions arc madc to dctincd conlribulion %chcines in Souih Africa and in thc UnitLd Kingdom. UnrestrictL,d funds are general funds that are aviiilable for use ilt the trust¢¢s' di%Lrcli()ii in furtliLrance of ihe objeclives of the charity. DcsiEnated funds arc unrcsirictcd funds sci asidc at ihc discrciion of ihc trustccs for spccific purposcs. Restrlcted t'unds are ihose donaled tor use in a particular arca or for a spccific purp()%es, IhL U%e Ot. which is re%iriCted io thai arca or purpo%C only. Credil()r,i andpr(iipj.i j()n.% Credilors aiid provisivns are recogyiiised wliere ilie charity ha5 a pr¢s¢nt obli&Fation rcsulting froin a past ci'cnt ilial will probably rcsuli in tlic transfcr of funds to a third party aiid ihc ainoiint diic to sclllc ihc obligiation can be Incasiircd or cstimalcd rLli1ibly. Crcdilors and provisions arc norinally rccogniscd at thLir scttlLiiicnt amc)unl. j. Debicin Trade and other debiors are recognised at the settlement amount due. 2. Net incomclcxpenditure and net moi'cment in fund5 for thc ycar Nct incomc has been derived after charging: Year to December 21123 Year 10 December 2023 Deprecialion Auditors, rcmuneration 23.841 6,840 7.820 18
SOUTH AFRICAN CONGREGA TION 3. Employees Employee Numbers The average number of employees during the period were: Year to December 2024 Year io DecLmber 2023 LbLr NumbLr 10 Employe¢s Thc fiill iimc cquivalcnt of the average number of cinployccs Employ( costs Year to Deceml)er Year lo DeLLmber 2024 2023 Wage5 and Siiliiries Social Sccurity costs ()Ihcr pcnsion cosls 364,067 32,496 211,414 424.977 378.147 27.430 59.U07 464.584 Thc numbcr of cmplc)yccs whosc cmolumcnl8 (salariLs. wa&ics and bLnclil4 in kind} fell within th¢ following bands, on an annual ¢quiv(Ilent. ar¢: Year to December 2024 Ycar lo Deccmbcr 2023 £60,000 10 £69.999 £80.000 to £89,999 ThL hi¥hLr paid LmployLcs, thL full iimc mini%lcr%. wLrL" accniing pcnsic)n bLncfil.s. Tlie t()tal pen%ii)n iontributic)n paid r()r these employees and inLluded in the employe¢ costs. (Ibove, w(15 £22.478 (2023: £53,803). No Tnistcc Dircclor. nor anyonc conncctcd w'ilh thcm. cxccpi as cxplaincd in notc I I below. rLcLivcd any rcmunLralion or bcnctils trom the Charitablc Company or hiid (Iny expenses paid by the Charity during ihe ye(Ir. Penslon costs Two of the three fiill time ministers are members of the Christian Cominunity Pcnsion Fund4 ¢1 dclincd contribution fund cstablishcd and managcd by thc Dutch Relomed C hurch in Souih Alrica. All ihrL"c lull timL mini.stLrs arL mLmbLrs of a UK detined contribulion pension fund. The lotal pen%ion contribution made in respeLt of the ministers, during the year. was £22,478 (2023: £53,803). 19
SOUTH AFRICAN CONGREGA TION In accordancc witli thc Pcnsioii Aci 2008, thc coinpany rcg7iStcrcd for autoinatic cnrolinent with National Einployment SaN'ings Trust (NLST) (ind The Pensions Rcgiulator, wilh a staging datc of l Fcbruary 2017 and a rc-dLclaralion datc of I FLbruc1ry 2()?0 and l FLbniary 2023. Conlribution.s to NFST arL InadL in rL%pect of 6 einplc)yee.% (31 DeLember 2023: 6 employee>*). with th¢ ¢omp(Iny contribution amountingi to £2,520 (202.1: £2,231). 5. Frcehold propcrtles The frcchold propcrtics rcprcsent the propcrties at 15 Thc Haycs. Langlcy Valc, Epsom Downs, Surrcy, KTI8 6HB, 16 Baldocks Road. ThLydon Bois, Essex. CM16 7EB and Applegarth. 34 Pinewood Gardens, S()uthb()r()u¥h, Tunbridge W¢lls. Kenl. TN4 ONN. The properti¢s wer¢ bought by lh¢ Ch<irilubl¢ Trust (s¢e Trustees, Report) in Deceniber 1997, May 2001 and April 201 I respectively, and Iranst-crrcd to thc Company on l Augusi 2013. The propcrlies wcrL Iransferred to ihe company on l Augusi 2013 al their fair value a% at ih¢lt d<lti, ba%Ld c)n adN'iiL and valuati()n% trL)m l()¢al L%lalc aglnls. Land Buildings Total Cost Ai l January 2024 Additions Ai 31 r)eLember 2024 1,237,1100 884,355 3.302 887.657 2.122.155 3,302 2.1 ?5.457 1,2_37.8n Di'preclatlon Ai l January 2024 Charge for tlie yeiir 172,604 17,720 172.604 17,720 190.324 At 31 Dcccmbcr 2024 190.324 Nel book value at 31 December 2024 1.237,800 697J3.1 1,935,133 Net book value at 31 DeC¢mr 2023 1,237.800 711,751 1,949,551 20
SOUTH AFRICAN CONGREGA TION 6. Other Tangible Assets Fitlings & equipnient Furniture Total Cost At l January 2024 Addiliun At 31 December 2024 33,338 4.130 37,468 22,556 504 23,060 55,894 4.034 60,528 Depreciation At l January 20234 C.har¥c for tlic ycar At 31 Deceniber 2024 21.103 5.685 26.788 5,702 .3.fi70 9.372 26,805 9..355 36.160 Net book value at 31 December 2024 10,680 13,688 24,368 Nci book valuc ai 31 Dcccmber 2023 12,235 16.1454 29,089 7. Debtors Year to December 2024 Ycar to Dcccmbcr 2023 HM Revenue and Cu%t()m% (Cjift Aid claim) Otlicr dL'btop Prepayinenls and accrued income 27,348 20,139 35,379 14.824 4.045 54.248 63,094 8. Creditors due wilhin one vear Year to December 2024 Year lo Deccnibcr 2023 Accountanls, fcc Accrued expenses Tiix 4ind social security Costs 7.000 12.731 18,109 37.840 3,256
SOUTH AFRICAN CONGREGA TION 9. The Charlti, made grants to the followlng institulions during the period: Year to December 21124 Year lo December 2023 Grants from unrestricted funds Frcnch C'hildren Mission Kanjanji Otphan Project Travelling costs in visiling missions 15,IXIO s,0 425 2().4?5 1.828 16.828 Year to December 21124 Ycar lo Deccmbcr 2023 Grants from restrfjcted funds 'Koningsoff¢r' Fund Kuyasa Fui)d 1.741 9.430 13,300 8,975 22,275 Total grants froin unrcstrictcd and rcstriclcd funds 27.999 42,700 22
SOUTH AFRICAN CONGREGA TION 10. Cost of Church activities Year to December 2024 Ycar lo DeLember 2023 Church actii'ities and ei'ents costs Ministers, remuneration and pension costs Other remuneration co%ts Congregalional mccling8, evcnts and aclivilic.s Rent - church and oihcr buildings 313.245 86.863 66,213 22,374 4811,695 314,079 129.136 48.394 26,163 517,772 Support C05tS Housing costs Cvlncrdl insuranc¢ Compa.48ion relief 61,768 3,933 6.974 1.075 21,101 1.817 7,187 5148 15.805 23.842 137.116 Travelliiig expenses Stalionery, C(Ilendar. New?iletters. elo. TelL'phone, inlernet and relevant CO%ts Staft"cntcrlainmcni Inlorniation tcchnology costs Depreciation 22.002 7,245 477 12.968 147.313 Tolal costs 636,008 654.888 I l. Related party transactions Thc TrusiCCS and minisicrs arc considered io bc rclaicd partic% to ihc Charily. aq IhLy arL, dLLmL'd t() havc 4igniliLant ci)nlr()l ()r influL'ncL ovLr ihL Charity. Con5LquLnily. disc105ure is required of <111 uctivities Of. Ihe Tru¥*tees and the Ininist¢rs, and their close family menibers, witli the Charity. In ihc fin1L nLial ycar. TruslcLs donatLd L42,614 (£38.615 dirL"Ltly, and L4,000 via a Tru%t} (20?_3: £44.744 - £41,744 dirLCtly and £3,000 via a Iruql) Ic) Ihe Charity. Thc mini5ter& (Ind their Llose family don(Ited £9,124 (2023: £9.482) to the Cliarity. No Trustcc Director, nor anyonc conncctcd with ihcm, cxccpi as cxplaincd bclow, receil'cd any remiineration or bcnefil.s from thc Charitablc Company or had any expen4e.4 paid by ihe Charity during the year. The full-tim¢ ministers received iotal remuneration of L218,228 (2023: £183,679) and ihc lotal pcnsion contributions paid amounted to £22,478 {2U23: £53.803). Sce note 4. Tlie Charity assist the ministers through the provision of loans to purchase vehicles. During the year. advances of £4,0 (2023: £16.000) was made, while £6,215 23
SOUTH AFRICAN CONGREGA TION (?023.. £2,167) was rcpaid. Icaving outslanding balanccs of £12,452 (2023: £14.667). As set out in the Trustee DirectOTS' Report under Investment in fixed property. th¢ Ch(irily investLd in the purchase of residL'ntial propL'rty for use by the ihree Ininisters and their direct fainily. These properties arc provided free of charge and Ihc C"hariiy is rcsponsible for thc paymeni of all uiilitics and insurancc on these propcrtic%. During the period the spouses of two minister5 IDr Rian Steyn 6ind Dr Sebastiaan 'an Dyk) were einployed by the chiirity (2023: Three Ininist¢rs Dr Steyn, Drc'lascn aiid Dr Van Dyk). Thc ministcrs arc not trustees. Roncl Steyn and Nat£qsha N'an Dyk reccivcd gross salarics tolalling £44.222 t.or thc year (?023: £48.672 IhrLL mini%tcr8' Ivites Sicyn, Lla4Ln and Van Dyk), Total bcnLli18 including pen%i()n c()nlributic)n8 ami)unl to £45,112 {20?.3: £49.589). Their appointinents have all been m(Id¢ in aicvrdance wilh ihe Chariiy Commission5 7uidance. and salaries are all at market rates. 12. Governance costs Year to Year io Deccmher DLcLmbcr 2024 2023 Baiik char&yes Audit fees and other sundry items Adminislraiive staff costs Stationcry and oihcr cosls 2.068 7,820 24,868 3.1180 37,1136 2,175 6.840 21,769 2.842 33.626 13. Summary of Net assets b). Fund Filed Assels Net current assels Total Net Assets Unrestrlcted funds General reserve tiind DLsi&vnatLd flinds Paslor Lxchange Fund Scalingy down reserve 1,959.501 84.255 2.043.756 50.000 50.000 184.255 50,000 50.000 2,143.756 1.959.501 Re5trlctcd funds 'K()ning%()ffer' Fund Kuyasa Fund 845 845 1145 845 1,9459,fj01 2,144,601 24
SOUTH AFRICAN CONGREGA TION General reserve fund is the balance of funds available for dircct allocation and distribution. Dc$lgnatcd funds are those amounis that are set aside to coi'er the costs of ¢mi)l()y¢¢s M."ho i%."ill be expected to return io South Africa at tlie end of their conlracls. Funds are also desiginaled to cover the costs in ca¢ of $Ca]Ing¥ down of activities and rctrenching employees. Restrlcted funds arc thosc amounls ihal wcrc donalcd with the cxprcss wishcs of the donors that they be contributed to a .%pecifiL activity or organi%ation. 14. Statement of Funds 0110112024 Inllow Outflow 311121202 Unrestricted funds General reserve fund Desi¥naled tiinds Pastor Exchange Fund Scaling down rcscrve 2,114,785 619,643 690,672 2,043,756 50.000 50.(>00 2,214,785 50.000 50,000 619.fv13 690,672 2,143.756 Restricted funds 'Koningsoffer' Fund Kuyi15a Fund 1.741 1,010 2.751 ,741 9.430 9.265 9,265 845 845 2,217,536 628.908 701.843 2,144,601 The rcslricicd reserves represent the funds donated to the Charity for specific purp()%L'.4, or whLrL' thL Charity had an activity or LvL'ni with the %pL'Lific purp()%e that all donation5 received or surplus funds from the activity would bc used for the advertised purpose. These funds are recorded separately and are nornial ly paid over to thc bcncficiarics annually, or if it is onc of thc groups alrcady bcncfiling from donations by thc Charity, it is paid with the nomal contributions trom rimc io iimc. Sullicicni ca%h or %hort-ILm dcpo%it4 are al'ailable io make ihese paymenls and IhL%c fuiids arL' nol usLd lor nornial tunding purp(i%cs. The funds above oriBinat¢d from th¢ followingF and the purposes of it are: Fund Purpose "Koningsoffer" fund Annual specific conlribulions for an advertised PUTPOSe, determined by the Trustees, in many Lases to 25
SOUTH AFRICAN CONGREGA TION support missions or other activitics similar in goals to the C'harity Fiinds donatcd to a projcct in Soiith Africa to providc schooling and school clothing io cliildrcn Kuyasa fund 15. Notes to the statement of cash flow Reconciliation of profit to net cash (0utflow)linflo, from operatinLi actii'ities 2024 2023 Prolill{Loss) lor the year Adj ustmcnts to rcconcilc profit for thc ycar to ncl cash flow from opcraiing activities Deprecialion Financc inconie Workin¥ capiliil movements { Increa.8e)IDecrea.%e in debtors Incrcascl(Dccrcasc) in crcditors (72.935) (121,321) 27.075 (4.087) 23.841 (5,158) (8,1146) (4.029) (25.563) 2.773 Nci cash (ouillow)linllow Irom operating uLtivilies (62,1122) (125,4211) 16. Crltlcal accounting eslffimates and judgements Thc prcpar¢1tion of thc financial siaicmcnts rcqiiircs m¢indgyLincnt io make judbiLinLnt%, e%limatcs and a4sumption.4 ihal al'fecl ihe amounli rLpc)flLd Icir assets Ind liabililiLS a% (li ihL b<il<inLL shcLt datL and thL amc)uiits rLP()rtLd fc)r rLN'LnuL5 and expLnsL'5 during the yL'ar. I lowever. the iialure of estini(Ilion InL'ans that aLtual oulcoiiies could differ from ihose estimales. There were no key judgements. The main accounting esiimates are depreciation, gift aid dL'bior5 (ind acLruals. 17. Taxatlon The charity is exempt from tax on income and gains falling within section 505 of Ihc TaxLs Act 1988 or seclion 252 of ihc Taxalion ot. Char&FcablL (iains Act 1992 lo the cxtenl thai ihese are applied io its charilable objecls. 26