``` 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` |||`Page`|| |---|---|---|---| |`Trustees' Report`|`1`|`to`|`10`| |`Independent Examiner's Report`||`11`|| |`Statement of Financial Activities`|`12`|`to`|`13`| |`Balance Sheet`|`14`|`to`|`15`| |`Cash Flow Statement`||`16`|| |`Notes to the Cash Flow Statement`||`17`|| |`Notes to the Financial Statements`|`18`|`to`|`30`| ``` 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 ``` - `undertaking educational work about the Jewish roots of the Christian faith` - `supporting the advancement of Messianic Judaism.` ## **`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 ``` WS¢¢t¢. Ch￿rpE￿o￿ EHIWots& J R 8rn. Yt•Cl4hFws KAIth*E Ir•s4wd 11122) R Bknthrd J {r¢5W 8.721) Dr A Da¥l•s Re4T K Pawt {rffj*ied 7.1021) S S•lw 11p￿1￿¢¢￿ &1022) P D Gratsh￿ (apWm•d 8.10.22) A Pafftsl (ap￿1￿1¢4 &7.2¥ MJPrno Nottinthamthlre NG13 8AQ Th• Royal BAnk dSro¢knd 6¥63 ThreadneethE Slre8t EC2A 8L4 NGI 38E and s*d on hs b*Alfty. Pwlo dent Ex3miner's Re The Vincen Indep￿dert examln8r's r•port ts the tntstées ofTht Vkn¢wrtSKlety('the ChArfW) I r¢p)rtw the ckorty trU8te85 ¢n my e¥amlrAlon ofthè accounts ofthe c￿lryfor the year ended 31 December 2W22_ Respotvjlbllltles and b*is of report the tru5¢P45 you ¥e respw￿Ible hr the Prep¥a￿¢￿ of the acco￿ts in ¥cor4arKe wth the of the Art 2011 (the Adl. I tyrt in t￿p￿t of my e¥4minatyon of the chariws xcouThts carried tyJt undw %&ctton 145 tsf thé Act in c*ryin8 aur my ¢arnIn￿on I have fdlow•J all th* aTrlicablB Dwqctyons 8r¥en by the Charly c0rnmk￿on sec0c￿ 145151(bl ofth•AcL nce the chariW5 ffoss Income exce0d￿ a50,11)O your èN2mlner nwst be a rnernber of a W listed in setson 145 ofthe Att I firm that l am yllfléd ta ¥ider¢ake the e¥anynation becwse l am a ￿￿)ber ol the Ihstltute of CPAnered Accountsnts in gknd and Wak5 whl¢h 1$ c•)¢ of th6 Isted bodes. I coryjlered my £Yaminatic￿. I confirm that r￿) Miter1￿ mattors trHve tome to my atterrrion in cannectiDn with th• eramiTrati￿ m8 ¢•we to bBIRve that in any rrAterial respeit . acco￿￿nI r4C¢)rds wqrB nut knpt h respect dthe chartty as rwlred ty S¢CEk)n 130 tsf th• A<$ dr 2 tho •cwints do not accord wth those recor(k,' or 3. the accounts do not ccffipty the appll¢abl* rryu1r￿Me￿ts toncèrnhg the forni and coTrtent OF accounts srf ¢4rt the Chaths Ikcounts and Wlation5 2TrJ6 Othor than any rnqulrement that the a¢towts glwe a Inje and kir view which fj5 nota matter c¢n&dered as wt tsf * Midependerrt eXaM￿aD￿. 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 NOttinghan￿1Te 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 Con￿d￿ 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¥*n0trW￿r￿ thartty to ¢b￿n an authL The Iriiit* adfflo*l* th*r for com￿1￿￿ 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 ```