REGISTERED COMPANY NUMBER: CE019289 (England and Wales)
REGISTERED CHARITY NUMBER: 1153457
Trustees' Report and
Unaudited Financial Statements for the Year Ended 31 December 2022
for
The Vincent Society
Trading as CMJ UK
Bostockwhite Limited
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ
The Vincent Society
Trading as CMJ UK
Contents of the Financial Statements for the Year Ended 31 December 2022
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Statement of Financial Activities |
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Cash Flow Statement |
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Notes to the Cash Flow Statement |
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Notes to the Financial Statements |
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The Vincent Society
Trading as CMJ UK
Trustees' Report
for the Year Ended 31 December 2022
Thecharity'strusteespresenttheirreportwiththecharity'sfinancialstatementsfortheyearended31December2022. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicable to
charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Introduction
TheVincentSocietyoriginallyoperatedasatrustcompanyregisteredinEngland(00256264)sinceitsincorporationinMay 1931.
Followingtheadoptionofnewobjects,agreedwiththeCharityCommission,theVincentSocietywasregisteredasacharityon 19
August2013(1153457)andtookontheoperationalworkofCMJ(TheChurch'sMinistryamongJewishpeople,registered charity
number228519).InNovember2019theVincentSocietybecameaCharitableIncorporatedOrganisation.Itiswith this
background that this report details the work of the Vincent Society in 2022.
Membership
At 31 December 2022, the Vincent Society had a membership of 722 (703 in 2021) members.
Trustees
The members directly elect the trustees of the Vincent Society. The trustees met four times in 2022, both in person and online.
TheVincentSocietyhascarriedoutitscharitableaimsforpublicbenefitbytakingontheworkoftheChurch'sMinistry among
JewishPeople(CMJ)andpursuingtheformeractivitiesofCMJinlinewiththenewobjects.Likewise,ithastakenoverOlive Press
Publishing (OPP) and provided Christian publications for public benefit.
Objects
TheobjectofthecharityisrestrictedtotheadvancementofChristianity,inwaysthataresensitivetotheneedsofJewish people
by:
- undertaking evangelism which is appropriate for, but not exclusive to, Jewish people
- providing ministry to and support for Jewish believers in Jesus
The Work of The Vincent Society in 2022
2022,likethetwopreviousyears,hasbeenanotherverydifferentyearfortheSocietyanditsmembersaswealladjustto life
impactedbythepandemic.Wearesogratefultohaveexperiencedthecontinuedgenerosityofourindividualand church
supporters'ongoinggiving.Manycontributedto theSpringandAutumnappeals,andtherehasalsobeenlegacyincome.The work
oftheministryhascontinuedonlinebuthassoughttoreturntoin-personeventswhenappropriate.Internationalworkhas also
started again as travel requirements have allowed.
WetaketheopportunitytoacknowledgeboththefaithfulnessoftheLord,whocallsusandequipsustofulfilourmissionand also
our members and supporters for their unfailing prayer and financial giving.
Wearegratefultohavereceiveddonationsfrommanychurchesandarealsopleasedthatlotsofnewindividualshavebeen added
to the mailing database.
Page 1
The Vincent Society
Trading as CMJ UK
for the Year Ended 31 December 2022
Trustees' Report
OBJECTIVES AND ACTIVITIES
Trustees' Activities
There were several areas of trustee activity in 2022. The most notable aspects of our work were:
- Establishing a Development Sub-Committee which met 8 times over the course of the year
-Followingtheactivitiesassociatedwiththesecondmentof25%oftheChiefExecutive'stimetotheInternationalFacilitation role
that started in January
- Monitoring the fulfilment of the Medium-Term Strategy covering 2021 to 2024;
-SuccessionplanningfortrusteessawnewtrusteesappointedattheAnnualGeneralMeetingandothersco-optedduringthe year
reducing the average age of the Board of Trustees.
These tasks were in addition to the regular oversight activities of the Society by the trustees.
Aresponsibilityforthetrusteesinanyyearisthesettingofthebudget.Thetrusteeswerepleasedtosetabudgetfor2023 that
maintainedtheincreasedevangelismexpenditureallowingforthreeCommunity-BasedEvangelists(onemorethanwhen we
introducedCBEsin2014)andcontinuedouryouthconferencework,linkedtoexcellentfeedbackfromthe2022Conference that
tookplaceatYarnfieldConferenceCentreforthefirsttime.Weremainexcitedaboutthepotentialimpactofthesetwo elements
of thebudget.Asthisreportindicates,we havecontinuedto benefitfromoursupporters'generosityin theirregulargivingand the
blessingoflegacies.Regulargivingenablesustomoveclosertoamoresecurefinancialfootingandtohavingamoresolidbasis for
futureplanning.Wewouldparticularlyliketothankthosesupporterswhoincludeusintheirwillsandtoputonrecord our
appreciation for their valuable support.
Evangelism / Outreach
Community-Based Evangelists (CBE)
During2022weadvertisedandinterviewedfora CBEto bringtheteambackupto threein2023.DespiteCovidrestrictions their
workhasbeenongoingbothinpersonandonline.Theimportanceofthisworkisemphasisedinthatallthreeevangelists are
line-managed by the Chief Executive Officer (CEO).
Major Outreaches
Inadditiontothisday-to-daywork,theSocietyinvestedinmajoroutreachprojectsin2022.Inallouroutreachwork,the primary
focusistoreachJewishpeoplesensitivelyandappropriately,butitisneverourintentiontoexcludeotherpeople.These outreach
projects are listed below:
1. Our London-based CBE continued to lead the New Age outreaches which took place in April and October. These resulted in:
-
hundreds of people, including many Jewish people, engaging in conversation
-
hundreds of gospels and tracts being given away
-
professions of faith celebrated and new contacts for our CBEs were gained.
Page 2
The Vincent Society
Trading as CMJ UK
Trustees' Report
for the Year Ended 31 December 2022
OBJECTIVES AND ACTIVITIES
Evangelism / Outreach - continued
Major Outreaches - continued
2.TheAnnualSpringFairatChristChurchinJerusalemrecommencedin2022toconnectwiththelocalcommunityand raise
financesfortheMercyFundandothercharities.ThiswasorganisedinconjunctionwithCMJIsraelbytwoCMJUKmembers of
staffleadingateamofvolunteers.TheFairhasbecomeapopulareventintheOldCity'ssocialcalendarandattracts many
hundredsofpeoplefromthelocalJewish,ArabandBedouincommunities.Thisfunday'sentertainmentincludesgames, food,
musicanddancing,plusthesellingofsecond-handclothesandhouseholdgoods.ManyofthestaffatChristChurchandother CMJ
centresassistontheday.Lotsofmeaningfulconversationstakeplaceaddressingquestionsoffaithandhelpingtobuild mutual
trust and respect.
3.ThestreetoutreachinthecentreofStamfordHillrecommencedin2022.Weprovidedpersonnelforabout33%of these
events;coveredmostoftheliteraturecosts;sharedinprayersupportandsoughttobuildandmaintainlinkswithlocal church
groups.OurCEOhaspreachedinlocalchurchesinthisareapreviously.Webelievethisoutreachprovidesan excellent
partnership model with other mission agencies and local churches.
Bible Comes To Life (BCTL) Exhibition
BCTLhascontinuedto bea keyministrytoolforCMJin 2022.Whilstsomeeventswerecancelled,threeeventstookplace during
the year in England.
Wehaveanumberofbookingsfor2023andasusualexpecttoseeoverhalfofthoseattendingcomingfromlocalschools. The
exhibitionmeetsnationalcurriculumrequirementsrelatingtobothChristianityandJudaismandhasinrecentyearsgivenrise to
manypositivecommentsfrombothschoolstaffandpupils.Manyteacherssaythattheinteractive,multi-sensoryexperience goes
farbeyondwhattheycouldprovideinaclassroomsetting.CMJcontactsinthelocalschools(membersofschoolstaff, governors,
church children's workers etc.) are vital to the exhibition's success in these educational establishments.
NotonlydoestheeducationalelementofBCTLcontinuetodevelop,butsodoesitsevangelisticemphasis.Wefurther expanded
our collection of artifacts in 2022, adding to those collected in 2021.
WearecontinuingtoexplorelinkswithboththeBritishMuseumandtheMuseumoftheBibleinWashingtonDCto obtain
valuations of the clothing and scrolls and advice on renovating other parts of the collection.
PriortothepandemicwesawsignificantgrowthinBCTLandwebelieveitisavitaltoolinourministrygoingforward. We
celebratetherecommencementofthisworkandlookforwardtomorebookingsfor2023.However,westilldonothave a
permanent site to house the exhibition, so the search continues..
Jewish Evangelism Training (JET)
InterestintheJETcoursehasdiminished.Therewritecommencedin2022andthevideopresentationsfilmed.Itisexpected the
finished product will go live just prior to Easter 2023
Major Outreach in Poland
FivestaffandateamofvolunteersspentuptotwoweeksinPolandsupportingourcolleaguesfromCMJIsrael,JewsforJesus and
other similar ministries in a programme of street evangelism, BCTL exhibition and lectures in August / September.
Page 3
The Vincent Society
Trading as CMJ UK
Trustees' Report
for the Year Ended 31 December 2022
OBJECTIVES AND ACTIVITIES
Education & encouragement
Other Educational and encouragement activities - continued
Activitieshavecontinuedduring2022,withonlinepreachingengagements,deputations,teachingeventsetc.Passovers were
possibleagainin2022withover500peopleattendingavarietyofnewandconnectedchurches.Staffwereabletoattend and
speakattheLausanneConferenceonJewishEvangelism.Themonthlylectures(opentothepublic)havecontinuedonline,as has
the publication of quality advocacy material e.g. Olive Press Research Papers.
Themonthlyonlineprayermeetingshavereducedfromtwotoonepermonthasattendancenumbersdroppedwhen lockdowns
ended.Ourinvitedonlineguestshavecontinuedto sharetheirprayerneedsandthenbreakoutroomsareusedforprayer.This is
followedbyCMJUK'sprayerneedsbeingpresentedwithmoreprayerafterwards.PrayerFocuscontinuestobesentto members
quarterly.Wealsoprovidearegularmonthlyprayerupdateviaemailtomanyprayergroups,someofwhichhavebeen in
existenceforover20years.In2022wealsointroducedquarterlyprayerbreakfaststoseeifthistimingwouldengagea different
audience.
WehavecontinuedtoengagewiththeLoveNeverFails(LNF)groupbothonlineandinperson.Thisisanallianceof ministries
with a similar focus to that of CMJ. One of our staff is the Vice Chair of the group.
Staffhavebeenveryactivesharinginchurchesaroundthecountry.Perhapsthemostencouragingbeingalocalchurchthat invited
ustotheirmid-weekafternooneventatthebeginningoftheyear.Theyfollowedthisupbyrequesting6teachingsessionsin their
Sunday evening services on Jewish Feasts and festivals. We will be concluding with a Passover in 2023
TherehasbeennoopportunityforstafftorepresenttheSocietyattheGeneralSynodoftheChurchofEngland.Wewere in
attendance at Teach the Word, Prophetic Witness Movement International Conference and the AOG leaders Conference..
Wehavesharedanonlineseriesexploring7parablesfromLuke.Staff(andlocalreps)ledPassovercelebrationsandthus helped
many churches explore the link between Passover and Holy Communion and the person and work of Jesus.
InJuly,ourannualthree-dayConferencewasforthefirsttimeatYarnfieldConferenceCentre.Thekeynotespeakerwas Gavin
Calverandarangeofsessionsprovidedavarietyofrelatedministryteaching.YouthforChristledtheYouthConference (Radix).
Numbersincreasedtoover300attendeesanditgeneratedlotsofpositivefeedbackandwasmuchappreciatedasan in-person
event.
In2022theconsultationwascompletedandwefinalisedanorderofserviceforthesupportandaffirmationofMessianic Jews
withinachurchsetting,acknowledgingtheHebrewrootsoftheChristianfaithandtheplaceofMessianicJewswithinthe wider
bodyofMessiah.ThemaineventwhichlaunchedthiswasheldatRochesterCathedral.Therewasexcellentfeedbackanditwas a
greatencouragementtotheJewishbelieverinvolved.Sincethen,thiskeyresourcehasbeensharedatdeputations.Inaddition, it
waspromotedattheAnglicanGlobalMissionPartnersGathering(USA).Thisgatheringhostedaround3,500delegates including
key colleagues from CMJ USA. It is hoped that the liturgy will be used widely within the church.
Our CEO was also part of two significant media events:
- A live Radio 4 interview / discussion with a Rabbi on the panel
-CanonJ.John'sseriesofprogrammescalledFacingtheCanon.Thiseditionhasgeneratedover2,500viewsandthe number
grows. This is a great resource for introducing CMJ to new audiences.
Page 4
The Vincent Society
Trading as CMJ UK
Trustees' Report
for the Year Ended 31 December 2022
OBJECTIVES AND ACTIVITIES
Education & encouragement
Other Educational and encouragement activities - continued
Revelation TV also carried an interview with Kelvin Crombie as part of his deputation.
StaffandtrusteeshadplannedtoconducttourstoIsraeland,incooperationwithCMJIsrael,wehavesoughttoreducethecost of
thesewhilemaximisingthebenefittoourcharitablework.Traveluncertaintyandthefinancialclimatemeantthatallbutone of
these were cancelled.
Advocacy
Intermsoftheologicaleducation,wehavecontinuedtopublishanddistributeOlivePressResearchPapers(OPRPs).Theyare a
valuable advocacy tool and are freely available to download from the CMJ UK website.
Antisemitism
Ourstandagainstantisemitismissupportedbyarangeofarticles,correspondenceandparticipationinmeetings.CMJreflected on
Yom Kippur with a time of prayer in the Office.
TheCEOcontinuestobeinvolvedinaddressingtheriseofantisemitism,engagingwithchurchesandpoliticalinstitutionsas and
when opportunities arise.
TheHolocaustMemorialServicein2022wasatWimborneMinsterandwasbothin-personandonline.HolocaustMemorial Day
also has a significant influence upon our social media posts at that time of year.
In May we were part of the Synod of Oxford Repentance Service at Christchurch Cathedral, Oxford.
In addition, we have been sharing social media posts most Fridays to raise the profile of this aspect of our work.
The BCTL Exhibition also provides opportunities for conversations challenging antisemitic views.
Page 5
The Vincent Society
Trading as CMJ UK
Trustees' Report
for the Year Ended 31 December 2022
OBJECTIVES AND ACTIVITIES
Other activities
Ournewareasofworkduring2022haveallbeenonlineandaddedtoourever-growingYouTubechannel.Wehavecontinued to
postonourInstagramandTwitteraccountstoincreaseoursocialmediapresenceandhaveenhancedouruseofEventbrite to
promoteourevents.OurwebsiteandFacebookpagehaveseensignificantgrowthinbothreachandinterestinour online
resources. The online shop was reinstated and utilised by many during the year and at Conference.
Wearegratefulforthenetworkoflocalrepsaroundthecountrywho,whenopportunitiespresentthemselves,promote the
Society'sworkintheirlocalities.TheRepsConferencebasedinSt.AlbanswasinMay.RevDarylFentonwasaspeakerand it
included a visit to the Jerusalem Experience.
We are grateful to the team of volunteers who have been able to return to the Office, helping staff and trustees in CMJ UK's work.
TheTrusteeswouldliketonote,withgratitude,thetremendouseffortsofoursmallbutdedicatedteamofstaffand volunteers.
Wearegratefulfortheircommitmenttoourmission.Withoutthem,littleofourworkwouldbedone,andweacknowledge their
service not only to CMJ, but more importantly to the Kingdom, to which we all belong, and to our Lord.
Israel
CMJUKdoesnotoperatedirectlyinIsrael,butitdoesprovideasignificantamountoffinancialsupportforoursister society's
work, CMJ Israel: £98,533 (£106,124 in 2021) (See note 9).
AnumberofCMJUKstaffandmembershavecontributedtothesermonnotesforChristChurchinthepastyear.These weekly
sermonnotesaredistributedtooursupportersfortheiruseandtopromoteanunderstandingoftheJewishnessofGod'sword to
church leaders. There is an archive of these on our website and a search facility added in 2022.
Inthis12monthperiodwewelcomedbackfromIsraelRosemarySaunders,whowasheadoftheAnglicanInternationalSchool in
Jerusalem, and her husband Roy. We also celebrated the appointment of Sandra Matthews to replace Rosemary in this role.
TheInternationalConferencetookplaceatChristChurch,JerusaleminOctober2022.CMJUKwasrepresentedby two
membersofstaff.ThevisitwascombinedwiththeinductionofournewEventsManagertothevariousministriesofCMJ Israel
and meeting contacts in the worldwide family of CMJs.
For those wanting to find out more about CMJ Israel's work, their comprehensive website is www.cmj-israel.org.
Future Plans
TheTrusteesarekeenfortheVincentSocietytoprogressinitsmanyavenuesofwork.Plansfor2022onwardslook towards
building on the work done previously and also include:
-
The continuation of the trustees' work in the Development sub-committee to strengthen the organisation in relation to its
-
succession planning and transition arrangements
-
Taking up opportunities for week-long teaching engagements at holiday retreat centres (4 planned in 2023 already)
-
Enhanced engagement with Bible Colleges
-
Development of the website and keeping our social media posts relevant to an increasing audience
-
Development of the new database which provides additional facilities including Direct Debit giving and text messaging of
-
supporters
-
Attending, as exhibitors, at the Keswick Convention
- TheMessianicJewishLiturgywill bepresentedto theleadersof theOnePeopleCommission(EvangelicalAlliance)withtheaim of
makingthisresourceknownviatheirnetworks.ItwillalsobeincludedasakeypartofthepresentationtotheLCJEandthe CEO
PWMgatheringin 2024.ThePartnersin WorldMissiongatheringis hostedbytheBishopofTruro.Ourhopeis thatthe Anglican
liturgicalcommissionwilladoptthisliturgyasa'commendedliturgy'whichwouldbeamajorachievementforCMJand Messianic
Jewish Believers, perhaps of historical and theological significance.
Page 6
The Vincent Society
Trading as CMJ UK
Trustees' Report
for the Year Ended 31 December 2022
OBJECTIVES AND ACTIVITIES
Conclusion
TheSociety'sworkprogressedin2022,suchthatthegospelcontinuestobeadvancedamongJewishpeople.Theactivitiesand the
waytheyareexecutedareconsistentwiththeobjectsoftheVincentSociety.Wecontinuetopursueinnovativemeans of
continuingthisworkinpartnershipwithlike-mindedcharitiesbothhereintheUKandIsrael.Weseektocontinuetoserve the
Lord in the mission that He has given us. We publicly and gratefully acknowledge His faithfulness to us in 2022.
Public benefit statement
TheVincentSociety'scharitableaimswerepreviouslycarriedoutforpublicbenefitmainlybytheworkofCMJ,untilitstransfer of
activities which took effect on 1 January 2015.
ThetrusteesconfirmthattheyhaveconsideredtheCharityCommission'sguidanceonthepublicbenefitrequirementin the
decisions taken.
TheVincentSocietyhasadvancedtheChristianreligionbyfulfillingtheseobjectsasthemainpublicbenefitofthisSociety.Key to
thisistheevangelisticworkintheUKachievedbytheemploymentofstaffwhosetaskistoevangeliseandpromoteevangelism in
appropriatewaysforJewishpeople.Thispromotiontakesplacewithinthewiderchurchandalsoincludesothersupportstaff and
volunteers.TheworkisdoneinawaythatdoesnotrestrictevangelismtoJewishpeopleinanexclusivewaybut encourages
peopleofallbackgroundstoconsidertheclaimsofYeshuaHa'Mashiach-JesustheMessiah.Evangelismiscarriedoutin a
culturallysensitivewaywithoutanycoercionwhatsoever.ThisisfullyinlinewiththeaimsoftheSociety(Articlesof Association
5.21statesthatnofinancialgiftshallbemadetoanyJewishpersonoutofthefundsofthecharityunlessthatpersonhasbeen a
baptisedbelieverinMessiahforatleastayearandthatanysuchgiftmustbeseentobeinfurtheranceoftheobjectsofthe charity
and not as an inducement to become a believer).
Muchoftheevangelisticworktakestheformoffriendshipevangelism.Staffalsoparticipateinseveraloutreachevents. These
includestreetoutreachesandmorespecialistoutreachesat NewAgeevents,whichareopento thepublic.All theworkis done in
a Jewish context, with both new and mature believers alike being shown the importance of the Jewish roots of the Christian faith.
TheVincentSocietyhasalsobeenofpublicbenefitbyengagingwithandsupportingJewishbelieversinYeshuaintheirfaith. Jewish
peoplewhomakeacommitmenttoYeshuaoftendescribethemselvesas"Messianicbelievers"andthesebelieversmay form
"Messianic congregations" or "Messianic fellowships" for worship, mutual support and encouragement in their faith.
TheSocietyhasalsoorganisedpublicreligiousservicesandspecialeventstoeducatethewiderChristiancommunityabout the
Jewishrootsof Christianityandencouragethemto supportbothMessianicbelieversandoutreachto Jewishpeople. Opportunities
existforindividualstovisitIsrael(attheirexpense)topromoteagreaterunderstandingofChristianityanditsJewishorigins. CMJ
UK seeks to ensure that the cost of such trips is not prohibitive to maximise the number of people who can benefit from them.
Lastbutnotleast,wehaveanongoingroleinstandingagainstantisemitism.Thisworkisvariedandcutsacrossmostaspects of
theorganisation'swork.Ourdirectworkistopublisharticles,engageincorrespondenceandparticipateinmeetingsthat address
this. We also partner with other organisation having a similar role.
Page 7
The Vincent Society
Trading as CMJ UK
Trustees' Report
for the Year Ended 31 December 2022
FINANCIAL REVIEW
Principal funding sources
The Charity's principal funding sources are:
- Donations from Individuals
-
Donations from Churches
-
Legacies
In2022,totalincomeresourcesamountedto£603,565comparedto(2021:£657,614).Theprincipalreasonforthedecline in
overallincomingresourcesisthatthecomparativeyearincludesomeadditionalfundinginrestrictedfundsrelatingto AISJ
Messianic Students Fund. The 2021 year also included support through the CJRS grants.
Investment policy
Objectives
Theinvestmentobjectivesaretogenerateasustainableincomestreamwhich,attheveryleast,maintainsbothitsrealvalue in
future years and also the real capital value of the portfolio over the long term.
Investment Outcomes
This policy, written in 2010, has yearly income targets and expectations of capital growth in the long-term.
Risk Tolerance
Thetrusteesplaceahighpriorityonmaintainingtherealvalueoftheportfolioandofincomereturnsoverthelongterm and
accept that at times this may mean accepting short - or medium-term declines in capital value.
Withdrawal of Capital
Thetrusteesdonotanticipateregularwithdrawalsofcapitalbutdounderstandthatshouldwithdrawalstakeplacetherewould be
consequences to future income projections.
Ethically and Socially-responsible Investment
ThetrusteeshavereviewedtheirinvestmentpolicywithregardstotheChurchCommissioner'sguidanceonethical and
responsibleinvestment.Nofundswill beinvestedin a companywhosebusinessactivitieshavemorethan25%of turnover involved
intobacco,gambling,alcoholicdrinksandhumanembryoniccloningandresearch.Thepolicywouldpermitinvestmentofup to
100% of the funds in the Israeli stock market.
Review of funds and reserves policy
The trustees report a decrease in fund balances for the year of £254,752 (2021 decrease: £9,853).
Attheyear-endthefreereserves(ignoringtheunfundedpensionliability)were£944,460(2021:£1,308,785)whichismore than
the budgeted unrestricted expenditure for 2023. The minimum reserves limit has been set at £300,000.
Permanent endowment funds were £566,367 (2021: £566,367), and the balance of restricted funds was £135,103 (2021: £112,930).
Principal risks and uncertainties
TheVincentSocietyholdscashandinvestmentstogenerateinvestmentincome.Thecharityalsohasotherfinancialassets and
liabilities such as other receivables and other payables arising directly from its activities.
The charity manages risks with these as follows:
-Liquidityrisk:Thecharitymaintainsitscashandinvestmentbalancesinaccountssuchthatitalwayshasavailablesufficient liquid
resources to meet its operating needs whilst obtaining a competitive return on its investments.
-
Interest rate risks: The charity is exposed to changes in interest rates in respect of its bank deposit accounts.
-
Foreign currency risk: The charity has minimal exposure to movements in foreign currency.
Page 8
The Vincent Society
Trading as CMJ UK
Trustees' Report
for the Year Ended 31 December 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document which is the Memorandum and Articles of Association of the Company.
Recruitment and appointment of new trustees
Trustees are elected at the Annual General Meeting.
The Appointments Committee is responsible for appointing senior staff and approving their terms of employment.
Organisational structure
TheVincentSocietyisacharitableincorporatedorganisationgovernedbyarticleswhichitconvertedintoon23October2019. It
registered with the Charity Commission on the basis of its charitable objects as stated on page 1.
Decisionsaremadeafterprayerfulconsiderationofallaspectsofanissueandwherenecessaryseekingexpertguidance. All
important decisions are made only when there is complete agreement among the trustees.
The trustees delegate the day-to-day management of the Charity to:
-
Rev. Alex Jacob, Chief Executive Officer and Director of Advocacy;
-
John Brooks, Deputy Chief Executive Officer
Thetrusteesalsooperateundersub-committeesoftheCharity:theFinanceCommittee,theStaffPolicyCommitteeand the
Governance Committee.
Induction and training of new trustees
NewtrusteesaresupportedbyreceivingwritteninformationabouttheSocietyanditsconstitutionandrules;beinglinkedwith an
experienced trustee; being part of a smaller sub-committee and attending any agreed training.
Related parties
Witheffectfrom31stDecember2014theunincorporatedcharitytheChurch'sMinistryAmongJewishPeople(Registered Charity
no. 228519) was wound up as an operational charity and all assets and activities were transferred to The Vincent Society.
See note 19 for further details.
Risk management
The trustees actively review the significant risks which the Charity faces on a regular basis.
Aswellasconsideringinternalcontrols,thetrusteeshavealsoexaminedtheotheroperationalandbusinessrisksweface and
confirm that systems and initiatives are being reviewed to mitigate those risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE019289 (England and Wales)
Registered Charity number
1153457
Registered office
Eagle Lodge
Hexgreave Hall Business Park
Farnsfield
Nottinghamshire
NG22 8LS
Page 9
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I have no cth¢tms have ccqne across Ks other matters the eX)Inall( to whKh attentpx should bE drawn kn thls report
orderto erubk a rry*r understaThJing ofthe accounts to reached.
House
Ststk>n Stree¢
'n4ham
NOttinghan1Te
138AQ
81uty 2Q3
The Vincent Society
Trading as CMJ UK
Statement of Financial Activities
for the Year Ended 31 December 2022
Notes
INCOME AND
ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
6
Individuals
Churches
Annual conference
Shoresh tours
Subscription fee
Other trading activities
4
Investment income
5
Other income
7
Total
EXPENDITURE ON
Raising funds
8
Charitable activities
9
Israel
United Kingdom
Other
Total
Net gains/(losses) on investments
NET
INCOME/(EXPENDITURE)
Other recognised gains/(losses)
Actuarial gains/(losses) on defined
benefit schemes
Net movement in funds
RECONCILIATION OF
FUNDS
Total funds brought forward |
Unrestricted
funds
£
444,702
4,045
11,279
43,784
-
13,445
27,040
1,425
-
545,720
30,529
78,544
405,140
225,158
739,371
(158,055)
(351,706)
74,781
(276,925)
1,181,085 |
Restricted
fund
£
57,845
-
-
-
-
-
-
-
-
57,845
-
19,989
15,683
-
35,672
-
22,173
-
22,173
112,930 |
Endowment
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
566,367 |
31.12.22
Total
funds
£
502,547
4,045
11,279
43,784
-
13,445
27,040
1,425
-
603,565
30,529
98,533
420,823
225,158
775,043
(158,055)
(329,533)
74,781
(254,752)
1,860,382 |
31.12.21
Total
funds
£
538,727
3,612
8,954
42,872
1,225
17,200
22,261
1,229
21,534
657,614
45,208
106,124
323,811
211,309
686,452
27,137
(1,701)
(8,152)
(9,853)
1,870,235 |
|
|
|
|
|
|
The notes form part of these financial statements
Page 12
The Vincent Society
Trading as CMJ UK
Statement of Financial Activities
for the Year Ended 31 December 2022
Notes
TOTAL FUNDS CARRIED
FORWARD |
Unrestricted
funds
£
904,160 |
Restricted
fund
£
135,103 |
Endowment
fund
£
566,367 |
31.12.22
Total
funds
£
1,605,630 |
31.12.21
Total
funds
£ |
|
|
|
|
|
1,860,382 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 13
The Vincent Society (Registered number: CE019289)
Trading as CMJ UK
Balance Sheet
31 December 2022
Notes
FIXED ASSETS
Tangible assets
15
Investments
16
CURRENT ASSETS
Stocks
17
Debtors
18
Cash at bank and in hand
19
CREDITORS
Amounts falling due within one year
20
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
PENSION LIABILITY
24
NET ASSETS
FUNDS
23
Unrestricted funds:
General funds
Unrestricted pension reserve
Minimum reserves
Succession & reorganisation
Israel Loan Fund
Restricted funds
Endowment funds
TOTAL FUNDS |
31.12.22
£
349,361
755,565
1,104,926
11,861
278,689
280,665
571,215
(30,211)
541,004
1,645,930
(40,300)
1,605,630
177,512
(40,300)
300,000
421,600
45,348
904,160
135,103
566,367
1,605,630 |
31.12.21
£
344,245
914,830
1,259,075
12,278
145,367
604,369
762,014
(33,007)
729,007
1,988,082
(127,700)
1,860,382
382,522
(127,700)
300,000
486,263
140,000
1,181,085
112,930
566,367
1,860,382 |
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended
31 December 2022.
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyearended31December 2022
in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
Page 14
te¢S Cond tr4t tho Y6 ont#led to eX#P from the rewffem•nt to in under 144 of th•
rlttel Act 2011 and ¢ht mwnbers ha¥n0trWr thartty to ¢bn an authL
The Iriiit adfflol th*r for com1 the Of$Kth 130 ilthe CIMrl¢h• Art 2011 w
and
ks b•hthbr.
Py15
The Vincent Society
Trading as CMJ UK
Cash Flow Statement
for the Year Ended 31 December 2022
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Net cash used in investing activities
Cash flows from financing activities
CMJ Israel loan advances
Net cash used in financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of
the reporting period |
31.12.22
£
(220,434)
(220,434)
(11,253)
(296)
1,506
1,425
(8,618)
(94,652)
(94,652)
(323,704)
604,369
280,665 |
31.12.21
£
(91,509)
(91,509)
(2,924)
(326)
1,664
1,229
(357)
(60,000)
(60,000)
(151,866)
756,235
604,369 |
|
|
|
The notes form part of these financial statements
Page 16
The Vincent Society
Trading as CMJ UK
Notes to the Cash Flow Statement
for the Year Ended 31 December 2022
1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Losses/(gain) on investments
Interest received
Decrease in stocks
Increase in debtors
(Decrease)/increase in creditors
Difference between pension charge and cash contributions
Net cash used in operations |
31.12.22
£
(329,533)
6,137
158,055
(1,425)
417
(38,670)
(2,796)
(12,619)
(220,434) |
31.12.21
£
(1,701)
5,564
(27,137)
(1,229)
1,393
(57,097)
4,250
(15,552) |
|
|
(91,509) |
2. ANALYSIS OF CHANGES IN NET FUNDS
|
At 1.1.22 |
Cash flow |
At 31.12.22 |
|
£ |
£ |
£ |
Net cash |
|
|
|
Cash at bank and in hand |
604,369 |
(323,704) |
280,665 |
|
604,369 |
(323,704) |
280,665 |
Total |
604,369 |
(323,704) |
280,665 |
The notes form part of these financial statements
Page 17
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements
for the Year Ended 31 December 2022
1. STATUTORY INFORMATION
TheVincentSocietyisacharitableincorporatedorganisationregisteredwiththeCharityCommissioninEngland& Wales.
The charity's registered number and office address can be found in the trustees report.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
Theaccounts(financialstatements)havebeenpreparedinaccordancewiththeStatementofRecommended Practice:
AccountingandReportingbyCharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicableintheUKandRepublicofIreland(FRS102)(effective1January2015)-(CharitiesSORPFRS102)and the
FinancialReportingStandardapplicableintheUnitedKingdomandRepublicofIreland(FRS102)(September2015)and the
Charities Act 2011.
Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexceptionofinvestments which
are included at market value.
The charity meets the definition of a public benefit entity under FRS 102.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Thetrusteesdonotconsiderthatthereareanysourcesofestimationuncertaintyatthereportingdatethathave a
significantriskofcausingamaterialadjustmenttothecarryingamountofassetsandliabilitieswithinthenext reporting
period.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,itis probable
thattheincomewillbereceivedandtheamountcanbemeasuredreliably.Thesameprinciplesapplytoincome received
from government grants, which as barred by the SORP are not recognised on an accruals model.
The benefit of voluntary man hours is not evaluated in the financial statements.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharityto that
expenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountof the
obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticular headings
they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Freeholdandlongleaseholdpropertyhavebeendepreciatedtowritedownthecostlessestimatedresidualvalue over
theirremainingusefullifebyequalannualinstalments.Consequently,thevalueofthelandhasnotbeendepreciated. The
usefullifeofthepropertyis estimatedto benotlessthan50years.Hencethebuildinghasbeendepreciatedover50 years
using a straight line method.
Tangiblefixedassetsareinitiallyrecognisedatcostwhichisthepurchasepriceplusanydirectlyattributable costs.
Subsequently, tangible fixed assets are measured at cost less accumulated depreciation.
continued...
Page 18
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
Allotherfixedassetshavebeendepreciatedonastraightlinebasistowriteoffthecost,lessestimatedresidualvalue over
their useful lives as follows:
Computer equipment 33%
Other equipment 10%
Motor Vehicles 25%
Stocks
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsoleteandslow moving
items. Cost is calculated using the average cost method.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Permanentendowmentfundsarefundswherethereisnopowertoconvertthecapitalintoincome,andmustgenerally be
held indefinitely.
Designatedfundsarefundswhoseuseisnotlegallyrestrictedbutwhosepurposehasbeendesignatedbythe Trustees.
TheTrusteesareentitledtousethesefundsinwhateverwaytheyseefit.Theyareincludedinthegeneral fund.
Restrictedfundsarefundswhoseuseislegallyrestrictedtospecificuseswhetherbyatrustdeedorbyaletter received
with the original gift.
The general fund covers all other retained funds which do not fall into the above categories.
Pension costs and other post-retirement benefits
Defined contribution pension scheme
TheCharityoperatesadefinedcontributionpensionschemeforlaystaff.Theassetsoftheschemeareheld separately
fromthoseoftheCharityinanindependentlyadministeredfund.Contributionspayabletothecharity'spension scheme
are charged to the Statement of Financial Activities in the period to which they relate.
Defined benefit pension scheme
The Charity participates in the Church of England Funded Pensions Scheme for clergy which is a defined benefit scheme.
ForschemessuchastheChurchofEnglandFundedPensionsScheme,theCharityisrequiredtoaccountforpension costs
on the basis of contributions actually payable to the scheme in the year.
The Charity does not contribute to the costs of this scheme as it is funded by the Archbishop's Council.
Unfunded pension scheme
TheCharityalsoprovidesunfundeddiscretionarypensionsto4pensioners.BarnettWaddinghamLLPprepares a
calculation of the future liability as at the balance sheet date.
Operating leases
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesonastraightlinebasisover the
period of the lease.
Investments
Investments are included at market value. Investment income is accounted for when due.
continued...
Page 19
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
2. ACCOUNTING POLICIES - continued
Investments
Realisedgainsandlossesareaccountedforbyreferenceto thesaleproceedsandeitherthelastbalancesheetvaluation, or
thecostofthepurchaseiflater.Unrealisedgainsandlossesarecalculatedbycomparingthepreviousbalance sheet
valuation, or cost of purchase if later, to the year end valuation.
3. DONATIONS AND LEGACIES
DONATIONS AND LEGACIES |
|
|
Appeals
Donations
Gift aid
Legacies |
31.12.22
£
32,510
339,249
36,634
94,154
502,547 |
31.12.21
£
44,896
364,913
31,875
97,043 |
|
|
538,727 |
4. OTHER TRADING ACTIVITIES
OTHER TRADING ACTIVITIES |
|
|
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Olive Press sales |
4,411 |
5,425 |
Royalties |
22,629 |
16,836 |
|
27,040 |
22,261 |
INVESTMENT INCOME |
|
|
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Deposit account interest |
1,073 |
393 |
(Loss)/gain on disposal of investment |
352 |
836 |
|
1,425 |
1,229 |
5. INVESTMENT INCOME
continued...
Page 20
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
6. INCOME FROM CHARITABLE ACTIVITIES
|
31.12.22 |
31.12.21 |
Source |
£ |
£ |
Individuals |
4,045 |
3,612 |
Churches |
11,279 |
8,954 |
Annual conference |
43,784 |
42,872 |
Shoresh tours |
- |
1,225 |
Subscription fee |
13,445 |
17,200 |
|
|
|
|
72,553 |
73,863 |
|
|
|
OTHER INCOME
CJRS Grants |
31.12.22
£
- |
31.12.21
£
21,534 |
7. OTHER INCOME
Amountsreceivedmarkedas'CJRSgrants'aremoniesreceivableinconnectionwiththeCoronavirusJob Retention
Scheme.Therearenounfulfilledconditionsattachedtothesegrantsandnoothergovernmentassistancehas been
received.
8. RAISING FUNDS
Other trading activities
Other trading activities |
|
|
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Fundraising and publicity |
30,529 |
45,208 |
9. CHARITABLE ACTIVITIES COSTS
Israel
United Kingdom |
Direct
Costs
£
98,533
420,823 |
|
519,356 |
continued...
Page 21
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
10. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
|
Staff |
|
Governance |
|
|
costs |
Administration |
costs |
Totals |
|
£ |
£ |
£ |
£ |
Other resources expended |
100,515 |
115,943 |
8,700 |
225,158 |
11. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Independent examiners fee |
6,600 |
6,000 |
Depreciation - owned assets |
6,137 |
5,564 |
Operating lease payments |
39,053 |
34,736 |
12. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2022norfortheyear ended
31 December 2021.
Trustees' expenses
Trustees' expenses
31.12.22 |
31.12.21 |
£ |
£ |
7,227 |
2,835 |
Trusteesexpenseswerereimbursedto7trustees(2021:5)andrelatetotravel,subsistenceand accommodation
expenses. Donations received (without conditions) from trustees amounted to £10,678 (2021 : £5,518).
ThehighercostsintheperiodareduetoarequirementtohavetwoTrusteesmeetingshostedonceatSedgebrook Hall
and once at Yarnfield Park.
13. STAFF COSTS
Wages and salaries
Social security costs
Other pension costs |
31.12.22
£
289,476
20,985
21,725
332,186 |
31.12.21
£
259,602
19,825
19,177 |
|
|
298,604 |
continued...
Page 22
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
13. STAFF COSTS - continued
The average monthly number of employees during the year was as follows:
|
31.12.22 |
31.12.21 |
Pensioners |
2 |
3 |
United Kingdom |
9 |
6 |
Administration |
6 |
7 |
|
17 |
16 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|
|
31.12.22 |
31.12.21 |
£60,001 |
- £70,000 |
1 |
1 |
14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Individuals
Churches
Annual conference
Shoresh tours
Subscription fee
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Israel
United Kingdom
Other
Total
Net gains on investments |
Unrestricted
funds
£
424,078
3,612
8,954
42,872
1,225
17,200
22,261
1,229
21,534
542,965
45,208
101,456
323,808
211,309
681,781
27,137 |
Restricted
fund
£
114,649
-
-
-
-
-
-
-
-
114,649
-
4,668
3
-
4,671
- |
Endowment
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
- |
Total
funds
£
538,727
3,612
8,954
42,872
1,225
17,200
22,261
1,229
21,534 |
|
|
|
|
657,614 |
|
|
|
|
45,208
106,124
323,811
211,309 |
|
|
|
|
686,452 |
|
|
|
|
27,137 |
continued...
Page 23
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
Endowment
funds
fund
fund
£
£
£
NET INCOME/(EXPENDITURE)
(111,679)
109,978
-
Other recognised gains/(losses)
Actuarial gains/(losses) on defined benefit schemes
(8,152)
-
-
Net movement in funds
(119,831)
109,978
-
RECONCILIATION OF FUNDS
Total funds brought forward
1,300,916
2,952
566,367
TOTAL FUNDS CARRIED FORWARD
1,181,085
112,930
566,367
15.
TANGIBLE FIXED ASSETS
Freehold
Office
Motor
property
equipment
vehicles
£
£
£
COST
At 1 January 2022
374,726
29,296
1,938
Additions
-
11,253
-
At 31 December 2022
374,726
40,549
1,938
DEPRECIATION
At 1 January 2022
41,972
17,805
1,938
Charge for year
2,998
3,139
-
At 31 December 2022
44,970
20,944
1,938
NET BOOK VALUE
At 31 December 2022
329,756
19,605
-
At 31 December 2021
332,754
11,491
- |
|
Total
funds
£
(1,701)
(8,152)
(9,853)
1,870,235
1,860,382
Totals
£
405,960
11,253
417,213
61,715
6,137
67,852
349,361
344,245 |
|
|
|
|
|
|
|
|
|
continued...
Page 24
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
16. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
|
|
|
MARKET VALUE
At 1 January 2022
Additions
Disposals
Revaluations
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021 |
|
|
|
Listed
investments
£
914,830
296
(1,506)
(158,055)
755,565
755,565
914,830 |
|
|
|
2022 |
|
|
2021 |
|
|
Market |
|
|
Market |
|
Cost |
Value |
Cost |
|
Value |
|
£ |
£ |
£ |
|
£ |
Unit trusts |
67,978 |
51,404 |
67,681 |
|
55,065 |
Shares in O.E.I.C. |
570,687 |
703,770 |
572,188 |
|
859,462 |
Cash on account |
391 |
391 |
303 |
|
303 |
|
|
|
|
|
|
|
|
|
|
|
|
|
639,056 |
755,565 |
640,172 |
|
914,830 |
|
|
|
|
|
|
There were no investment assets outside the UK.
17. STOCKS
Stocks
18.
DEBTORS
Amounts falling due within one year:
Trade debtors
Prepayments |
31.12.22
£
11,861
31.12.22
£
120,696
3,341
124,037 |
31.12.21
£
12,278
31.12.21
£
82,404
2,963 |
|
|
85,367 |
continued...
Page 25
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
18. DEBTORS - continued
DEBTORS - continued |
|
|
Amounts falling due after more than one year:
Other debtors
Aggregate amounts |
31.12.22
£
154,652
278,689 |
31.12.21
£
60,000 |
|
|
145,367 |
19. CASH AT BANK AND IN HAND
Includedincashatbankisanamountof£113,703(2021:£236,097)whichisheldinbankaccountsunderthenameof The
Church'sMinistryAmongJewishPeople.InaccordancewiththeTransferAgreement,allassetsandliabilitiesof The
Church'sMinistryAmongJewishPeopleweretransferredtoTheVincentSocietyat31December2014.Thisincludes all
money held in cash or bank accounts.
20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Trade creditors |
8,207 |
3,323 |
Social security and other taxes |
54 |
6,486 |
Other creditors |
2,844 |
1,398 |
Deferred income |
9,683 |
12,476 |
Accrued expenses |
9,423 |
9,324 |
|
30,211 |
33,007 |
Deferred income relates to income received for bookings in advance of events taking place in the following period.
Deferred income brought forward has been fully released in this financial year.
21. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years |
31.12.22
£
41,568
33,536
75,104 |
31.12.21
£
39,053
62,530 |
|
|
101,583 |
continued...
Page 26
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
22. ANALYSIS OF NET ASSETS BETWEEN FUNDS
|
Tangible fixed
assets |
Bank and cash |
Other assets less
liabilities |
Total |
|
£ |
£ |
£ |
£ |
Permanent Endowment Funds: |
|
|
|
|
Jane Cook fund |
147,369 |
- |
- |
147,369 |
Dolman Trust fund |
201,992 |
- |
77,578 |
279,570 |
A.C. Martin Memorial fund |
- |
139,428 |
- |
139,428 |
Restricted funds: |
|
|
|
|
C. Payne literature fund |
- |
- |
1,273 |
1,273 |
Israel - AISJ |
- |
- |
68,294 |
68,294 |
Israel - Beit Immanuel |
- |
- |
41,389 |
41,389 |
Israel - Christ Church |
- |
- |
7,429 |
7,429 |
Israel - Other |
- |
- |
7,577 |
7,577 |
UK |
- |
- |
9,141 |
9,141 |
Unrestricted funds: |
|
|
|
|
General fund |
- |
61,792 |
57,362 |
119,154 |
Minimum reserves |
- |
- |
300,000 |
300,000 |
Succession & reorganisation |
- |
34,097 |
387,503 |
421,600 |
Israel Loan Fund |
- |
45,348 |
- |
45,348 |
Israel |
- |
- |
18,058 |
18,058 |
|
|
|
|
|
|
|
|
|
|
|
349,361 |
280,665 |
975,604 |
1,605,630 |
|
|
|
|
|
continued...
Page 27
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
23. MOVEMENT IN FUNDS
|
Balance
1January 2022 |
Movement in
incoming
resources |
Movement in
outgoing
resources |
Transfers
Balance
between
31December
funds
2022 |
|
£ |
£ |
£ |
£
£ |
Permanent Endowment Funds |
|
|
|
|
Jane Cook Fund |
147,369 |
- |
- |
-
147,369 |
Dolman Trust Fund |
279,570 |
- |
- |
-
279,570 |
A.C. Martin Memorial Fund |
139,428 |
- |
- |
-
139,428 |
|
|
|
|
|
|
566,367 |
- |
- |
-
566,367 |
|
|
|
|
|
Restricted Funds |
|
|
|
|
C. Payne literature fund |
1,273 |
- |
- |
-
1,273 |
Israel - AISJ |
60,284 |
9,208 |
(1,198) |
-
68,294 |
Israel - Beit Immanuel |
31,632 |
10,270 |
(513) |
-
41,389 |
Israel - Christ Church |
11,535 |
11,119 |
(15,225) |
-
7,429 |
Israel - Other |
1,944 |
8,686 |
(3,053) |
-
7,577 |
UK |
6,262 |
18,562 |
(15,683) |
-
9,141 |
|
|
|
|
|
|
112,930 |
57,845 |
(35,672) |
-
135,103 |
|
|
|
|
|
Unrestricted Funds |
|
|
|
|
General Fund |
236,764 |
545,720 |
(757,982) |
94,652
119,154 |
Designated Funds: |
|
|
|
|
Minimum Reserves |
300,000 |
- |
- |
-
300,000 |
Succession & Reorganisation |
486,263 |
- |
(64,663) |
-
421,600 |
Israel Loan Fund |
140,000 |
- |
- |
(94,652)
45,348 |
Israel |
18,058 |
- |
- |
-
18,058 |
|
|
|
|
|
|
1,181,085 |
545,720 |
(822,645) |
-
904,160 |
|
|
|
|
|
|
|
|
|
|
|
1,860,382 |
603,565 |
(858,317) |
-
1,605,630 |
|
|
|
|
|
The Jane Cook Fund is held for Evangelism in Israel.
The Dolman Trust Fund is to be used for education work in the United Kingdom and encouragement of Jewish believers.
The A.C. Martin Memorial Fund is for the education of people from the Middle East.
The C. Payne Literature Fund was established to provide texts and pamphlets for the Charity.
Israel-AISJisdonationsreceivedforworkoftheAnglicanInternationalSchoolinJerusalemandforsponsorshipof pupils
within the school.
Israel-BeitImmanuelisdonationsreceivedfortheongoingworkandtherepairs/developmentofBeitImmanuelin Tel
Aviv.
Israel-ChristChurchisdonationsreceivedforthevariousministriesoperatingfromwithintheChristChurch compound,
including the ministry undertaken by the Church, for the world of the guest house and for CMJ Israel.
TheRestrictedFundsforUK,Israel-OtherandC.PayneLiteratureFundhavebeensetupbydonationsforthiswork and
for which expenditure is incurred in accordance with the restrictions attached.
TheMinimumreservesfundisdesignatedastheminimumlevelofunrestrictedfundsinlinewiththecharity's reserves
policy.
continued...
Page 28
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
23. MOVEMENT IN FUNDS - continued
TheSuccession&Reorganisationfundisdesignatedtocoverexpenditurelinkedtodevelopingsuccessionplans and
actioningthese.Thisalsoincludescoveringcostsonstaffconsultationonanewmediumtermstrategytolookat exploring
new opportunities to ensure the charity remains relevant.
IsraelLoanFundisthebalanceoffundsallocatedbutnotyetcalleduponbyCMJIsraelfortherepairstotheir premises.
These funds will be repaid over a number of years.
TheIsraeldesignatedfundisthesharingoffundsreceivedinaccordancewiththeCo-operationagreementwithCMJ Israel
and as agreed by the Trustees. The Israel fund is included within the general fund on the balance sheet.
24. EMPLOYEE BENEFIT OBLIGATIONS
TheCharityprovidesanunfundeddiscretionarypensionto4pensioners.ThebenefitsarepaidfromtheCharity's general
fund. The deficit has decreased substantially in 2022 as a result of the death of one of the pensioners.
The amounts recognised in the balance sheet are as follows;
|
Defined benefit pension plans |
Defined benefit pension plans |
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Present value of unfunded obligations |
(40,300) |
(127,700) |
|
|
|
Deficit |
(40,300) |
(127,700) |
|
|
|
Liability |
(40,300) |
(127,700) |
|
|
|
The amounts recognised in the statement of financial activities are as follows;
|
Defined benefit pension plans |
Defined benefit pension plans |
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Net interest from defined benefit liability |
2,100 |
1,300 |
|
|
|
Changes in the present value of the defined benefit obligation are as follows;
|
Defined benefit pension plans |
Defined benefit pension plans |
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Defined benefit obligation brought forward |
127,700 |
135,100 |
Interest cost |
2,100 |
1,300 |
Actuarial losses/(gains) |
(74,900) |
8,200 |
Benefits paid |
(14,600) |
(16,900) |
|
|
|
Defined benefit obligation carried forward |
(40,300) |
(127,700) |
|
|
|
Principal actuarial assumptions at the balance sheet date (expressed as weighted averages)
|
31.12.22 |
31.12.21 |
Discount rate |
4.95% |
1.75% |
Future pension increases |
2.30% |
3.05% |
continued...
Page 29
The Vincent Society
Trading as CMJ UK
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
24. EMPLOYEE BENEFIT OBLIGATIONS - continued
Defined contribution scheme
TheCharityoperatesadefinedcontributionpensionscheme.Thepensioncostchargerepresentscontributionspayable by
the Charity to the fund and amounted to £21,725 (2021: 19,177).
25. RELATED PARTY DISCLOSURES
Remunerationpaidtokeymanagementpersonnelwas£110,099(2021:£112,474).Aresidentialpropertyisprovided for
the use of a member of key management personnel whose remuneration is reduced to reflect this benefit.
Page 30