``` REGISTERED COMPANY NUMBER: CE019289 (England and Wales) REGISTERED CHARITY NUMBER: 1153457 ``` ``` Trustees' Report and ``` ``` Unaudited Financial Statements for the Year Ended 31 December 2023 ``` ``` for ``` ``` The Vincent Society Trading as CMJ UK ``` ``` Xeinadin ``` ``` 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 2023 ``` |||`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`|`29`| |`Detailed Statement of Financial Activities`|`30`|`to`|`31`| ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ``` Trustees' Report for the Year Ended 31 December 2023 ``` ``` Thecharity'strusteespresenttheirreportwiththecharity'sfinancialstatementsfortheyearended31December2023. 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 2023. ``` ## **`Membership`** ``` At31December2023,theVincentSocietyhadamembershipof507members.Ourquarterlymailinggoesouttoover 700 contacts (some receiving multiple copies to distribute) include churches, overseas contacts and Bible Colleges. ``` ## **`Trustees`** ``` The members directly elect the trustees of the Vincent Society. The trustees met four times in 2023, both in person and online. ``` ``` TheVincentSocietyhascarriedoutitscharitableaimsforpublicbenefitbytakingontheworkoftheChurch'sMinistry among JewishPeople(CMJ)andpursuingtheformeractivitiesofCMJinlinewiththenewobjects.Likewise,ithastakenoverOlive Press Publishing (OPP) and provided Christian publications for public benefit. ``` ## **`Objects`** ``` The Charity engaged with jewish people in accordance with its objectives. ``` ## **`The Work of The Vincent Society in 2023`** ``` Wearesogratefultohaveexperiencedthecontinuedgenerosityofourindividualandchurchsupporters'ongoinggiving. Many contributedtotheSpringandAutumnappeals,andtherehasalsobeenlegacyincome.Theworkoftheministryhas continued online and with in-person events. ``` ``` WetaketheopportunitytoacknowledgeboththefaithfulnessoftheLord,whocallsusandequipsustofulfilourmissionand also our members and supporters for their unfailing prayer and financial giving. ``` ``` We are grateful to have received donations from many churches, with lots of new individuals being added to the mailing database. ``` ``` Page 1 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ``` Trustees' Report for the Year Ended 31 December 2023 ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Trustees' Activities`** ``` There were several areas of trustee activity in 2023. The most notable aspects of our work were: ``` ``` -ContinuingtheworkoftheDevelopmentSub-Committeewhichmet10timesoverthecourseoftheyear.Thisresultedin a changeinthemanagementstructuresuchthatthepostofChiefExecutiveOfficerwasremovedandanewpostof General Director established ``` - `Monitoring the fulfilment of the Medium-Term Strategy covering 2021 to 2024` - `Giving our support to Tim Butlin as he became vice chair and later chair of the Israel Board` ``` -EnhancedengagementwithstaffandintheworkofCMJUKhasbeenenhancedwithTrusteesbeinginvolvedinonline meetings, joiningtheteamsontheexhibitionstandatKeswickConventionandhelpingwiththemailouts.Trusteeshavealsospoken to churches and other interested groups on behalf of CMJ UK ``` - `Attendance at the Lausanne Conference` - `Succession planning for trustees saw another new trustee co-opted during the year` - `Following the outbreak of the war in Israel, trustees have been active in standing up against antisemitism.` ``` These tasks were in addition to the regular oversight activities of the Society by the trustees. ``` ``` Aresponsibilityforthetrusteesinanyyearisthesettingofthebudget.Thetrusteeswerepleasedtosetabudgetfor2024 that maintainedtheincreasedexpenditureforthreestafffocusedonengagement(onemorethanwhenweintroducedCBEsin 2014) andcontinuedouryouthconferencework,linkedtoexcellentfeedbackfromthe2023Conferencethattookplaceat Yarnfield ConferenceCentre.Weremainexcitedaboutthepotentialimpactofthesetwoelementsofthebudget.Asthisreport indicates, wehavecontinuedtobenefitfromoursupporters'generosityintheirregulargivingandtheblessingoflegacies.Regular giving enablesustomoveclosertoamoresecurefinancialfootingandtohavingamoresolidbasisforfutureplanning.We would particularlyliketothankthosesupporterswhoincludeusintheirwillsandtoputonrecordourappreciationfortheir valuable support. ``` ## **`Engagement`** ``` During2022weadvertisedandinterviewedforanadditionalmemberofstafftodoengagementtobringtheteamuptothree in 2023. ``` ``` Inadditiontothisday-to-daywork,theSocietyinvestedinmajoroutreachprojectsin2023.Inallouroutreachwork,the primary focusistoreachJewishpeoplesensitivelyandappropriately,butitisneverourintentiontoexcludeotherpeople.These outreach projects are listed below: ``` ``` 1.OurLondon-basedmemberofstaffcontinuedtoleadtheNewAgeoutreacheswhichtookplaceinMayandOctober. 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` ``` Page 2 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ``` Trustees' Report for the Year Ended 31 December 2023 ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Engagement / Outreach - continued`** ## `Major Outreaches - continued` ``` 2.WecontinuedtoprovidesupportforthestreetoutreacheventsinthecentreofStamfordHill.OurCEOhadpreachedin local churchesinthisareapreviously.Webelievethisoutreachprovidesanexcellentpartnershipmodelwithothermission agencies and local churches. ``` ## `Bible Comes To Life (BCTL) Exhibition` ``` BCTLcontinuedwithplentyofbookingsinthefirsthalfoftheyear.AvisittoDevongeneratedmediainterestwherestaff were interviewedonthelocalradio.PaulandJaneyHamesretiredfromCMJUKinJuneandDanBootstartedtotransitionfrom his previous employment in order to join our staff. ``` ``` Wehaveanumberofbookingsfor2024andasusualexpecttoseeoverhalfofthoseattendingcomingfromlocalschools. The exhibitionmeetsnationalcurriculumrequirementsrelatingtobothChristianityandJudaismandhasinrecentyearsgivenrise to manypositivecommentsfrombothschoolstaffandpupils.Manyteacherssaythattheinteractive,multi-sensoryexperience goes farbeyondwhattheycouldprovideinaclassroomsetting.CMJcontactsinthelocalschools(membersofschoolstaff, governors, churchchildren'sworkersetc.)arevitaltotheexhibition'ssuccessintheseeducationalestablishments.Notonlydoes the educational element of BCTL continue to develop, but so does its emphasis on sharing the good news of the Bible. ``` ``` Wecelebratetherecommencementofthisworkandlookforwardtomorebookingscominginfor2024.Wealsomoved the items from storage in Leicester and are looking to store them closer to the Office. ``` ## `Jewish Engagement Training (JET)` ``` TherevisedversionofJETwentlivejustpriortoEaster2023anditscollectionofshortvideosandreadingresourceshas been shared with 92 contacts. ``` ``` Page 3 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ``` Trustees' Report for the Year Ended 31 December 2023 ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Education & encouragement`** ## `Other Educational and encouragement activities` ``` Activitieshavecontinuedduring2023,withonlinepreachingengagements,deputations,teachingeventsetc.Passoversin2023 saw over500peopleattendingavarietyofnewandconnectedchurches.Themonthlylectures(opentothepublic)have continued online, as has the publication of quality advocacy material e.g. Olive Press Research Papers. ``` ``` CMJreflectedonYomKippurwithtwoonlineeventsandlinkedthistoa devotionalresourcefortheDaysofAwe,whichwas well received. ``` ``` Themonthlyonlineprayermeetingshavecontinued.Theystartwithinvitedonlineguests,sharingtheirprayerneeds,after which breakoutroomsareusedforprayer.CMJUK'sprayerneedsarethenpresentedandprayedfor,followingthesameformat. Prayer Focuscontinuestobesenttomembersquarterly.Wealsoprovidearegularmonthlyprayerupdateviaemailtomany prayer groups,someofwhichhavebeeninexistenceforover20years.TheQuarterlyPrayerBreakfastsintroducedin2022have ceased due to low engagement. ``` ``` WehavecontinuedtoengagewiththeLoveNeverFails(LNF)groupbothonlineandinperson.Thisisanallianceof ministries with a similar focus to that of CMJ. A CMJ UK staff member is the Vice Chair of the group. ``` ``` Externalspeakersin2023includedChaimMalespin,KelvinCrombieandstafffromCMJIsrael.Oneexcitingdevelopmentwas an eveningeventfollowedbyafulldayinEdinburghandanassociatedmeetinginGlasgowwithspeakersalsoinvitedtoavariety of localchurches.TheScotlandeventalsolinkedinwithaUKtourcelebrating200yearsofCMJ’sworkinIsrael.Also,Revelation TV broadcast an interview with Kelvin Crombie as part of his deputation tour. ``` ``` OnlineBibleweekscontinuedin2023.ThesepopulareventsareaseriesofthreeBibleteachingsoveracourseofaweek, each with an in-depth focus on a specific subject. ``` ``` Staffhavebeenveryactivesharinginchurchesaroundthecountry.Anopportunitytospeakatalocalchurchmid-weekat the beginningof2022resultedinarequestforteachingsessionsonSundayeveningsonJewishfeastsandfestivals,concludingwith a Passoverin2023.Thiswasextremelyencouragingforourstaff.APartyofLighteventhasmorerecentlytakenplacethere, with many children and parents participating. ``` ``` TherehasbeennoopportunityforstafftorepresenttheSocietyattheGeneralSynodoftheChurchofEngland.Wewere in attendanceatTeachtheWord,PropheticWitnessMovementInternationalconferenceandJ.John’sConference.Newin 2023 were the Dovetail Shalom and Maoz Conference, and all three weeks of the Keswick Convention. ``` ``` InJuly,ourannualthree-dayConferencewasheldagainatYarnfieldConferenceCentre.ThekeynotespeakerwasMark Green andarangeofsessionsprovidedavarietyofrelatedministryteaching.YouthforChristledtheYouthConference (Radix). Attendancehasincreasedyearonyear.The2023conferencegeneratedmuchpositivefeedbackandanincreaseinthose booking for the 2024 event before leaving the Conference. ``` ``` StaffandtrusteeshadplannedtoconducttourstoIsraelincooperationwithCMJIsrael.Alltoursbookedfortheautumn were cancelled after the outbreak of war in Israel. ``` ``` Staff have spoken at and attended various Messianic fellowships during the year. ``` ``` Page 4 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ``` Trustees' Report for the Year Ended 31 December 2023 ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Advocacy`** ``` Intermsoftheologicaleducation,wehavecontinuedtopublishanddistributeOlivePressResearchPapers(OPRPs).Theyare a valuableadvocacytoolandarefreelyavailabletodownloadfromtheCMJUKwebsite.During2023,weappointedoneof our part-time staff to the role of Engagement Manager, to undertake advocacy work for us. ``` ``` OurEventsManagercontinuestobeactiveinsharingtheworkofCMJUKnotonlyinmanylocalchurchesbutalsoat Christian events engaging with people from all over the UK. ``` ``` SheandothershavealsocontinuedtoshareCMJUKatweek-longeventsheldatanumberofholiday/retreatcentresaround the country. ``` ## **`Antisemitism`** ``` Our stand against antisemitism is supported by a range of articles, correspondence and participation in meetings. ``` ``` Socialmediaisakeytoolinourstandagainstanti-Semitism.HolocaustMemorialDayprovidesasignificantopportunityin this respect.Sadly,therecentriseinanti-SemitismintheUK,sincetheoutbreakofthewarinIsrael,hasaddedfurtherimpetus and urgency to 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 2023 ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Other activities`** ``` Ournewareasofworkduring2023haveallbeenonlineandaddedtoourever-growingYouTubechannel.Wehavecontinued to postonourInstagramandTwitteraccountstoincreaseoursocialmediapresenceandhaveenhancedouruseofEventbrite to promoteourevents.OurwebsiteandFacebookpagehaveseensignificantgrowthinbothreachandinterestinour online resources.WealsostartedsharingcontentonTikToktoanaudienceofthousandsalmostfromtheveryfirstpost.Wealso have anorganisationandstaffpresenceonLinkedIn,withsomestaffhavingmorethan500contacts.Theonlineshophasbeen utilised by many during the year and at Conference. ``` ``` Wearegratefulforthenetworkoflocalrepsaroundthecountrywho,whenopportunitiespresentthemselves,promote the Society's work in their localities. The Rep’s Conference was in October and included a visit from a local Rabbi. ``` ``` We are grateful to the team of volunteers visiting the Office, helping staff and trustees in CMJ UK’s work. ``` ``` TheTrusteeswouldliketonote,withgratitude,thetremendouseffortsofoursmallbutdedicatedteamofstaffand volunteers. Wearegratefulfortheircommitmenttoourministry.Withoutthem,littleofourworkwouldbedone,andweacknowledge their service not only to CMJ, but more importantly to the Kingdom, to which we all belong, and to our Lord. ``` ``` Asmentionedintheworkofthetrustees,therehasbeenorganisationchangeassociatedwiththeleadershipofthe organisation. AlexJacob,ourChiefExecutiveOfficer,leftinMayandwearegratefulforhismanyyearsofservicewhichwerereflectedupon at theJulyConference.Afteradvertisingandinterviewing,wehaveappointedRevAaronEimetotheroleofGeneral Director. Aaron will be starting in early 2024, subject to a successful visa application. ``` ## **`Israel`** ``` CMJUKdoesnotoperatedirectlyinIsrael,butitdoesprovideasignificantamountoffinancialsupportfortheworkofour sister society, CMJ Israel: £147,932 (2022: £98,533) (see note 8). ``` ``` AnumberofCMJUKstaffandmembershavecontributedtothesermonnotesforChristChurchinthepastyear.These weekly sermonnotesaredistributedtooursupportersfortheiruseandtopromoteanunderstandingoftheJewishnessofGod's word to church leaders. There is an archive and search facility for these on our website. ``` ``` For those wanting to find out more about CMJ Israel's work, their comprehensive website is www.cmj-israel.org/. ``` ## **`Future Plans`** ``` TheTrusteesarekeenfortheVincentSocietytoprogressinitsmanyavenuesofwork.Plansfor2024onwardslook 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 (3 planned in 2024 already) entitled` - `“Exploring Israel with Jesus”` - `Participation in the Hand in Hand Conference with its potential to reach up to 600 youth workers` - `Enhanced engagement with Bible Colleges` - `Development of the existing website, with a view to replacing it with a new website towards the end of 2024` - `Reviewing and adapting our social media posts to keep them relevant to an increasing audience` - `Development of the new database which provides additional facilities including Direct Debit giving and text messaging of` - `supporters` - `Attending again as exhibitors at the Keswick Convention` - `Use of subscriber platforms such as Patreon to share teaching resources` - `Further development of connections in Scotland` ``` Page 6 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ``` Trustees' Report for the Year Ended 31 December 2023 ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Conclusion`** ``` TheSociety'sworkprogressedin2023,thesewereexecutedconsistentwiththeobjects.Theactivitiesandthewaythey are executedareconsistentwiththeobjectsoftheVincentSociety.Wecontinuetopursueinnovativemeansofcontinuingthis work inpartnershipwithlike-mindedcharitiesbothhereintheUKandIsrael.WeseektocontinuetoservetheLordinthemission that He has given us. We publicly and gratefully acknowledge His faithfulness to us in 2023. ``` ## **`Public benefit statement`** ``` TheVincentSociety'scharitableaimswerepreviouslycarriedoutforpublicbenefitmainlybytheworkofCMJ,untilitstransfer of activities which took effect on 1 January 2015. ``` ``` ThetrusteesconfirmthattheyhaveconsideredtheCharityCommission'sguidanceonthepublicbenefitrequirementin the decisions taken. ``` ``` TheVincentSocietyhasadvancedtheChristianreligionbyfulfillingtheseobjectsasthemainpublicbenefitofthisSociety.Key to thisisourengagementwithJewishpeoplebystafftrainedforthispurpose.Thispromotiontakesplacewithinthewider church andalsoincludesothersupportstaffandvolunteers.Theworkisdoneinawaythatdoesnotrestrictengagementwith Jewish peopleinanexclusivewaybutencouragespeopleofallbackgroundstoconsidertheclaimsofYeshuaHa'Mashiach-Jesus the Messiah.Engagementiscarriedoutinaculturallysensitivewaywithoutanycoercionwhatsoever.Thisisfullyinlinewiththe aims oftheSociety(ArticlesofAssociation5.21statesthatnofinancialgiftshallbemadetoanyJewishpersonoutofthefundsof the charityunlessthatpersonhasbeenabaptisedbelieverinMessiahforatleastayearandthatanysuchgiftmustbeseentobe in furtherance of the objects of the charity and not as an inducement to become a believer). ``` ``` EngagementtakesplacewhereverJewishpeoplemeetandarewillingtoconversewithus,rangingfromonthestreettoNew Age fairs. ``` ``` TheVincentSocietyhasalsobeenofpublicbenefitbyengagingwithandsupportingJewishbelieversinYeshuaintheirfaith. Jewish peoplewhomakeacommitmenttoYeshuaoftendescribethemselvesas"Messianicbelievers"andthesebelieversmay participate in "Messianic congregations" or "Messianic fellowships" for worship, mutual support and encouragement in their faith. ``` ``` TheSocietyhasalsoorganisedpublicreligiousservicesandspecialeventstoeducatethewiderChristiancommunityabout the JewishrootsofChristianityandencouragethemtosupportbothMessianicbelieversandoutreachtoJewishpeople. Opportunities exist for individuals to visit Israel (at their expense) to promote a greater understanding of Christianity and its Jewish origins. ``` ``` Lastbutnotleast,wehaveanongoingroleinstandingagainstantisemitism.Thisworkisvariedandcutsacrossmostaspectsof the organisation'swork.Ourdirectworkistopublisharticles,engageincorrespondenceandparticipateinmeetingsthataddress this. We also partner with other organisation having a similar role. ``` ## **`FINANCIAL REVIEW`** ## **`Principal funding sources`** ``` The Charity's principal funding sources are: ``` ``` - Donations from Individuals ``` - `Donations from Churches` ``` - Legacies ``` ``` In 2023, total income resources amounted to £728,119 compared to (2022: £603,565). ``` ``` Page 7 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ``` for the Year Ended 31 December 2023 ``` ## `Trustees' Report` ## **`FINANCIAL REVIEW`** ## **`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.Nofundswillbeinvestedinacompanywhosebusinessactivitieshavemorethan25%of turnover involvedintobacco,gambling,alcoholicdrinksandhumanembryoniccloningandresearch.Thepolicywouldpermitinvestment of up 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 £74,331 (2022 decrease: £254,752). ``` ``` Attheyear-endthefreereserves(ignoringtheunfundedpensionliability)were£801,516(2022:£944,460)whichismorethan the budgeted unrestricted expenditure for 2023. The minimum reserves limit has been set at £300,000. ``` ``` Permanentendowmentfundswere£566,367(2022:£566,367),andthebalanceofrestrictedfundswas£182,516 (2022: £135,103). ``` ## **`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. ``` ## **`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. ``` ``` Page 8 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ``` for the Year Ended 31 December 2023 ``` ## `Trustees' Report` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Organizational structure`** ``` TheVincentSocietyisaCharitableIncorporatedOrganisationgovernedbyarticleswhichitconvertedintoon23October 2019. 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 John Brooks, Deputy Chief Executive Officer. ``` ``` Trusteesalsooperateundersub-committeesofthecharity:theFinanceCommittee,theStaffPolicyCommittee,the Governance Committee and the Development 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`** ``` CMJ UK PO Box 11294 Newark NG24 9RU ``` ``` Page 9 ``` he Wincent Soth Tradin a5CM Trustees, Re ort the Year &ded 31 Decem Trust*ts W Scott- Chairpers EHJW¢trds l R Bames- Vite Chairpersgn R BPdndford (resi￿ed 8.7231 Rev Canon P Harris. Treasurtr DrA Davie$ Rey T &rfln {r•sw¥Jd 8.7231 S SaltEr P D Gra5￿￿ A Raffell Dr S Arthurson lappoirbted 30.823) Company Secretary M i e*o¢)ks Independent Examlner Bostockwhite Lirnited cab[￿r￿ House Ststion Street B1￿ha￿ Notunthamshire NG138AQ Bankws The Royal Bank ofscodand 6243 Threa(kneedle Street London EC2R BLA 1Th￿s￿¢n¢ Man•Rvs Whitefoard LLP 6 Georye Stre Nottingham NGI 3BE /7.12.¥..-... Approved by order c4the board oftru5¢tts 0n.-.--. .-.. and St￿ed on its behaw br. W &ott. Trysrn• Pwlo The Vincent Sooety. I report to the tnL4rÉes ￿ my ex3minats&) of￿￿ xc(￿ ￿thE lor the year *)ded 31 CkcwnbÈr 2023. Respo￿ltillIt1e$ and b#s15 of report c1w￿￿Act 2011 Cthe kn). I reJ)ort in rwt ot my Èb3mkn*tb)n of thp (￿led ￿lef 145 d the kt &) Car￿n8 cui ry 3minar*M I have fd1(v￿d all the ￿p￿￿blO the O*rity cThM1i5￿ W)dtrsec¢im I45(51￿) ofthe ACL &ntÈ the th￿ity'S kYQ55 ean4Mt5gn &I￿rI me cause to ftrAe mxeriil I tho accounts do ncrt *tcord With those rec￿. or 3. the acco￿ts do rK)¢ th• ￿kab￿ re￿￿￿￿3 thE fm of accow￿ s￿ out in th* Charides (Ae¢wThts afvj Rtports) Regu&rkns than any r&wirow* ￿t the * Irue ¥ffid falr whlth lordart AC4 n￿n &atbn St M)tElnghamshtrt NG135AQ ``` The Vincent Society Trading as CMJ UK ``` ## `Statement of Financial Activities` ## `for the Year Ended 31 December 2023` |`Notes`
**`INCOME AND`**
**`ENDOWMENTS FROM`**
`Donations and legacies`
`3`
**`Charitable activities`**
`6`
`Israel`
`Individuals`
`Churches`
`Annual conference`
`Subscription fee`
`Other trading activities`
`4`
`Investment income`
`5`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
`7`
**`Charitable activities`**
`8`
`Israel`
`United Kingdom`
`Other`
**`Total`**
`Net gains/(losses) on investments`
**`NET`**
**`INCOME/(EXPENDITURE)`**
**`Other recognised gains/(losses)`**
`Actuarial gains on defined benefit`
`schemes`
**`Net movement in funds`**
**`RECONCILIATION OF`**
**`FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED`**
**`FORWARD`**|`Unrestricted`
`funds`
`£`
`533,530`
`3,889`
`11,203`
`20,842`
`42,123`
`15,286`
`26,648`
`21,833`
`675,354`
`42,939`
`143,001`
`425,761`
`222,757`
`834,458`
`21,779`
`(137,325)`
`15,581`
`(121,744)`
`904,160`
`782,416`|`Restricted`
`fund`
`£`
`52,765`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`52,765`
`-`
`4,931`
`421`
`-`
`5,352`
`-`
`47,413`
`-`
`47,413`
`135,103`
`182,516`|`Endowment`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`566,367`
`566,367`|`31.12.23`
`Total`
`funds`
`£`
`586,295`
`3,889`
`11,203`
`20,842`
`42,123`
`15,286`
`26,648`
`21,833`
`728,119`
`42,939`
`147,932`
`426,182`
`222,757`
`839,810`
`21,779`
`(89,912)`
`15,581`
`(74,331)`
`1,605,630`
`1,531,299`|`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`
`1,605,630`| |---|---|---|---|---|---| ``` 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 2023 ``` ## **`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 2023`
`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`14`
`Investments`
`15`
**`CURRENT ASSETS`**
`Stocks`
`16`
`Debtors`
`17`
`Cash at bank and in hand`
`18`
**`CREDITORS`**
`Amounts falling due within one year`
`19`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
**`PENSION LIABILITY`**
`23`
**`NET ASSETS`**
**`FUNDS`**
`22`
`Unrestricted funds:`
`General funds`
`Unrestricted pension reserve`
`Minimum reserves`
`Succession & reorganisation`
`Israel Loan Fund`
`Restricted funds`
`Endowment funds`
**`TOTAL FUNDS`**|`31.12.23`
`£`
`343,730`
`776,151`
`1,119,881`
`5,730`
`161,335`
`298,453`
`465,518`
`(35,000)`
`430,518`
`1,550,399`
`(19,100)`
`1,531,299`
`151,822`
`(19,100)`
`300,000`
`349,694`
`-`
`782,416`
`182,516`
`566,367`
`1,531,299`|`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`| |---|---|---| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006fortheyear ended 31 December 2023. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyearended31December 2023 in accordance with Section 476 of the Companies Act 2006. ``` ``` The notes form part of these financial statements ``` ``` continued... ``` ``` Page 14 ``` The Vincent Socie Tr*dyi Is CM UK nurnber. CE019289 Bahnce Sheet- ccrrtinued l Decwnbor I￿23 Thp trutteos a**`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 provided by/(used in) investing activities`
**`Cash flows from financing activities`**
`CMJ Israel loan advances`
`CMJ Israel loan repayments`
`Net cash provided by/(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`**|`31.12.23`
`£`
`(151,503)`
`(151,503)`
`(1,387)`
`(304)`
`1,497`
`14,833`
`14,639`
`-`
`154,652`
`154,652`
`17,788`
`280,665`
`298,453`|`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`| |---|---|---| ``` 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 2023 ``` ## **`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`
`(Gain)/losses on investments`
`Interest received`
`Decrease in stocks`
`Increase in debtors`
`Increase/(decrease) in creditors`
`Difference between pension charge and cash contributions`
**`Net cash used in operations`**|`31.12.23`
`£`
`(89,912)`
`7,018`
`(21,779)`
`(14,833)`
`6,131`
`(37,298)`
`4,789`
`(5,619)`
`(151,503)`|`31.12.22`
`£`
`(329,533)`
`6,137`
`158,055`
`(1,425)`
`417`
`(38,670)`
`(2,796)`
`(12,619)`| |---|---|---| |||`(220,434)`| ## **`2. ANALYSIS OF CHANGES IN NET FUNDS`** ||`At 1.1.23`|`Cash flow`|`At 31.12.23`| |---|---|---|---| ||`£`|`£`|`£`| |**`Net cash`**|||| |`Cash at bank and in hand`|`280,665`|`17,788`|`298,453`| ||`280,665`|`17,788`|`298,453`| |**`Total`**|`280,665`|`17,788`|`298,453`| ``` 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 2023 ``` ## **`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,withtheexceptionof investments 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`** ``` All incomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is 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`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisa legalorconstructiveobligationcommittingthecharityto 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 usefullifeofthepropertyisestimatedtobenotlessthan50years.Hencethebuildinghasbeendepreciatedover 50 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 2023 ``` ## **`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`** ``` Thecharityoperatesadefinedcontributionpensionschemeforstaff.Theassetsoftheschemeareheldseparately from thoseofthecharityinanindependentlyadministeredfund.Contributionspayabletothecharity'spensionscheme 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`** ``` Thecharityalsoprovidesunfundeddiscretionarypensionsto3pensioners.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 2023 ``` ## **`2. ACCOUNTING POLICIES - continued`** ## **`Investments`** ``` Realisedgainsandlossesareaccountedforbyreferencetothesaleproceedsandeitherthelastbalancesheet valuation, orthecostofthepurchaseiflater.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`|`31.12.23`
`£`
`77,726`
`395,981`
`36,085`
`76,503`
`586,295`|`31.12.22`
`£`
`32,510`
`339,249`
`36,634`
`94,154`| |||`502,547`| ## **`4. OTHER TRADING ACTIVITIES`** ## **`5.`** |**`OTHER TRADING ACTIVITIES`**||| |---|---|---| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`Olive Press sales`|`5,562`|`4,411`| |`Royalties`|`21,086`|`22,629`| ||`26,648`|`27,040`| |**`INVESTMENT INCOME`**||| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`Rents received`|`7,000`|`-`| |`Deposit account interest`|`2,744`|`1,073`| |`Other interest receivable`|`11,692`|`-`| |`(Loss)/gain on disposal of investment`|`397`|`352`| ||`21,833`|`1,425`| ``` continued... ``` ``` Page 20 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ## `Notes to the Financial Statements - continued` ## `for the Year Ended 31 December 2023` ## **`6. INCOME FROM CHARITABLE ACTIVITIES`** |**`Source`**
`Individuals`
`Churches`
`Annual conference`
`Other organisations`
`Subscription fee`
**`7.`**
**`RAISING FUNDS`**
**`Other trading activities`**
`Fundraising and publicity`
**`8.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Israel`
`United Kingdom`|`31.12.23`||`31.12.22`| |---|---|---|---| ||`£`||`£`| ||`2,474`||`4,045`| ||`20,842`||`11,279`| ||`42,123`||`43,874`| ||`3,889`||`-`| ||`15,286`||`13,445`| ||||| ||||| ||`84,614`||`72,553`| ||||| ||`31.12.23`
`£`
`42,939`||`31.12.22`
`£`
`30,529`
`Direct`
`Costs`
`£`
`147,932`
`426,182`
`574,114`| ## **`9. SUPPORT COSTS`** |`Staff`
`Governance`
`costs`
`Administration`
`costs`
`£`
`£`
`£`
`Other resources expended`
`120,933`
`93,424`
`8,400`
**`NET INCOME/(EXPENDITURE)`**
`Net income/(expenditure) is stated after charging/(crediting):`
`31.12.23`
`£`
`Independent examiners fee`
`6,600`
`Depreciation - owned assets`
`7,018`
`Operating lease payments`
`41,568`|`Totals`
`£`
`222,757`| |---|---| ||`31.12.22`
`£`
`6,600`
`6,137`
`39,053`| ## **`10. NET INCOME/(EXPENDITURE)`** ``` continued... ``` ``` Page 21 ``` ``` The Vincent Society Trading as CMJ UK ``` ``` Notes to the Financial Statements - continued ``` ``` for the Year Ended 31 December 2023 ``` ## **`11. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2023norfortheyear ended 31 December 2022. ``` ## **`Trustees' expenses`** |**`Trustees' expenses`**||| |---|---|---| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`Trustees' expenses`|`5,932`|`7,227`| ``` Trusteesexpenseswerereimbursedto8trustees(2022:7)andrelatetotravel,subsistenceand accommodation expenses. Donations received (without conditions) from trustees amounted to £6,033 (2022: £10,678). ``` ## **`12. STAFF COSTS`** |`31.12.23`

`£`
`Wages and salaries`
`334,085`
`Social security costs`
`17,076`
`Other pension costs`
`16,887`
`368,048`
`The average monthly number of employees during the year was as follows:`
`31.12.23`

`United Kingdom`
`7`
`Administration`
`6`
`13`
`The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:`
`31.12.23`

`£60,001 - £70,000`
`1`
`Redundancy costs in the year totalled £30,000 (2022: £Nil).`|`31.12.22`
`£`
`289,476`
`20,985`
`21,725`| |---|---| ||`332,186`| ||`31.12.22`
`9`
`6`
`15`
`31.12.22`
`1`| ``` continued... ``` ``` Page 22 ``` ``` The Vincent Society Trading as CMJ UK ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ``` ## **`13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
**`Charitable activities`**
`Individuals`
`Churches`
`Annual conference`
`Subscription fee`
`Other trading activities`
`Investment income`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
**`Charitable activities`**
`Israel`
`United Kingdom`
`Other`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`Other recognised gains/(losses)`**
`Actuarial gains on defined benefit schemes`
**`Net movement in funds`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED 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`
`904,160`|`Restricted`
`fund`
`£`
`57,845`
`-`
`-`
`-`
`-`
`-`
`-`
`57,845`
`-`
`19,989`
`15,683`
`-`
`35,672`
`-`
`22,173`
`-`
`22,173`
`112,930`
`135,103`|`Endowment`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`566,367`
`566,367`|`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`
`1,605,630`| |---|---|---|---|---| ``` continued... ``` ``` Page 23 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ## `Notes to the Financial Statements - continued` ## `for the Year Ended 31 December 2023` ## **`14. TANGIBLE FIXED ASSETS`** |**`COST`**
`At 1 January 2023`
`Additions`
`At 31 December 2023`
**`DEPRECIATION`**
`At 1 January 2023`
`Charge for year`
`At 31 December 2023`
**`NET BOOK VALUE`**
`At 31 December 2023`
`At 31 December 2022`
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 1 January 2023`
`Additions`
`Disposals`
`Revaluations`
`At 31 December 2023`
**`NET BOOK VALUE`**
`At 31 December 2023`
`At 31 December 2022`|`Freehold`
`Office`
`property`
`equipment`
`£`
`£`
`374,726`
`40,549`
`-`
`1,387`
`374,726`
`41,936`
`44,970`
`20,944`
`2,998`
`4,020`
`47,968`
`24,964`
`326,758`
`16,972`
`329,756`
`19,605`|`Freehold`
`Office`
`property`
`equipment`
`£`
`£`
`374,726`
`40,549`
`-`
`1,387`
`374,726`
`41,936`
`44,970`
`20,944`
`2,998`
`4,020`
`47,968`
`24,964`
`326,758`
`16,972`
`329,756`
`19,605`|`Freehold`
`Office`
`property`
`equipment`
`£`
`£`
`374,726`
`40,549`
`-`
`1,387`
`374,726`
`41,936`
`44,970`
`20,944`
`2,998`
`4,020`
`47,968`
`24,964`
`326,758`
`16,972`
`329,756`
`19,605`||`Motor`
`vehicles`
`£`
`1,938`
`-`
`1,938`
`1,938`
`-`
`1,938`
`-`
`-`|`Totals`
`£`
`417,213`
`1,387`
`418,600`
`67,852`
`7,018`
`74,870`
`343,730`
`349,361`
`Listed`
`investments`
`£`
`755,565`
`304`
`(1,497)`
`21,779`
`776,151`
`776,151`
`755,565`|`Totals`
`£`
`417,213`
`1,387`
`418,600`
`67,852`
`7,018`
`74,870`
`343,730`
`349,361`
`Listed`
`investments`
`£`
`755,565`
`304`
`(1,497)`
`21,779`
`776,151`
`776,151`
`755,565`| |---|---|---|---|---|---|---|---| ||||||||| ||||**`2023`**||||**`2022`**| ||||**`Market`**||||**`Market`**| |||**`Cost`**|**`Value`**||**`Cost`**||**`Value`**| |||**`£`**|**`£`**||**`£`**||**`£`**| |`Unit trusts`||`68,283`|`53,192`||`67,978`||`51,404`| |`Shares in O.E.I.C.`||`569,184`|`722,569`||`570,687`||`703,770`| |`Cash on account`||`391`|`391`||`391`||`391`| ||||||||| ||||||||| |||`637,858`|`776,152`||`639,056`||`755,565`| ||||||||| ## **`15. FIXED ASSET INVESTMENTS`** ``` There were no investment assets outside the UK. ``` ``` continued... ``` ``` Page 24 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ``` ## **`16. STOCKS`** |**`STOCKS`**||| |---|---|---| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`Stocks`|`5,730`|`11,861`| ``` Althoughnotmaterial,stockhasseenasignificantreductionbycomparisontothepreviousyear.Thisisdueto the disposal of various stock lines for £Nil proceeds. ``` ## **`17. DEBTORS`** |`Amounts falling due within one year:`
`Trade debtors`
`Prepayments`
`Amounts falling due after more than one year:`
`Other debtors`
`Aggregate amounts`|`31.12.23`
`£`
`152,101`
`9,234`
`161,335`
`-`
`161,335`|`31.12.22`
`£`
`120,696`
`3,341`| |---|---|---| |||`124,037`| |||`154,652`| |||`278,689`| ## **`18. CASH AT BANK AND IN HAND`** ``` Includedincashatbankisanamountof£143,422(2022:£113,703)whichisheldinbankaccountsunderthenameof The Church'sMinistryAmongJewishPeople.InaccordancewiththeTransferAgreement,allassetsandliabilitiesof The Church'sMinistryAmongJewishPeopleweretransferredtoTheVincentSocietyat31December2014.Thisincludes all money held in cash or bank accounts. ``` ## **`19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** ||`31.12.23`|`31.12.22`| |---|---|---| ||`£`|`£`| |`Trade creditors`|`7,450`|`8,207`| |`Social security and other taxes`|`5,996`|`54`| |`Other creditors`|`1,685`|`2,844`| |`Deferred income`|`10,214`|`9,683`| |`Accrued expenses`|`9,655`|`9,423`| ||`35,000`|`30,211`| ``` 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. ``` ``` continued... ``` ``` Page 25 ``` ``` The Vincent Society Trading as CMJ UK ``` ``` Notes to the Financial Statements - continued ``` ## `for the Year Ended 31 December 2023` ## **`20. LEASING AGREEMENTS`** ``` Minimum lease payments under non-cancellable operating leases fall due as follows: ``` ||`31.12.23`|`31.12.22`| |---|---|---| ||`£`|`£`| |`Within one year`|`25,992`|`41,568`| |`Between one and five years`|`7,544`|`33,536`| ||`33,536`|`75,104`| ## **`21. 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 26 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ## `Notes to the Financial Statements - continued` ``` for the Year Ended 31 December 2023 ``` ## **`22. MOVEMENT IN FUNDS`** ||`Balance`
`1January 2023`|`Movement in`
`incoming`
`resources`|`Movement in`
`outgoing`
`resources`|`Transfers`
`Balance`
`between`
`31December`
`funds`
`2023`| |---|---|---|---|---| ||`£`|`£`|`£`|`£`
`£`| |**`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`|`68,294`|`21,332`|`(999)`|`-`
`88,627`| |`Israel - Beit Immanuel`|`41,389`|`9,130`|`(407)`|`-`
`50,112`| |`Israel - Christ Church`|`7,429`|`9,650`|`(438)`|`-`
`16,641`| |`Israel - Other`|`7,577`|`12,083`|`(2,004)`|`-`
`17,656`| |`UK`|`9,141`|`570`|`(1,504)`|`-`
`8,207`| |||||| ||`135,103`|`52,765`|`(5,352)`|`-`
`182,516`| |||||| |**`Unrestricted Funds`**||||| |`General Fund`|`137,212`|`675,354`|`(725,192)`|`45,348`
`132,722`| |`Designated Funds:`||||| |`Minimum Reserves`|`300,000`|`-`|`-`|`-`
`300,000`| |`Succession & Reorganisation`|`421,600`|`-`|`(71,906)`|`-`
`349,694`| |`Israel Loan Fund`|`45,348`|`-`|`-`|`(45,348)`
`-`| |||||| ||`904,160`|`675,354`|`(797,098)`|`-`
`782,416`| |||||| |||||| ||`1,605,630`|`728,119`|`(802,450)`|`-`
`1,531,299`| |||||| ``` The Jane Cook Fund is held for ministry 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 27 ``` ``` The Vincent Society Trading as CMJ UK ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ``` ## **`22. MOVEMENT IN FUNDS - continued`** ``` TheSuccession&Reorganisationfundisdesignatedtocoverexpenditurelinkedtodevelopingsuccessionplans and actioningthese.Thisalsoincludescoveringcostsonstaffconsultationona newmediumtermstrategytolookat exploring new opportunities to ensure the charity remains relevant. ``` ``` IsraelLoanFundwasthebalanceoffundsallocatedbutnotyetcalleduponbyCMJIsraelfortherepairstotheir premises. This was fully repaid in 2023. ``` ## **`23. EMPLOYEE BENEFIT OBLIGATIONS`** ``` Thecharityprovidesanunfundeddiscretionarypensionto3pensioners.Thebenefitsarepaidfromthecharity's general fund. The deficit has decreased in 2023 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`| |---|---|---| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`Present value of unfunded obligations`|`(19,100)`|`(40,300)`| |||| |`Deficit`|`(19,100)`|`(40,300)`| |||| |`Liability`|`(19,100)`|`(40,300)`| |||| ``` The amounts recognised in the statement of financial activities are as follows: ``` ||`Defined benefit pension plans`|`Defined benefit pension plans`| |---|---|---| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`Net interest from defined benefit liability`|`1,800`|`2,100`| |||| ``` Changes in the present value of the defined benefit obligation are as follows: ``` ||`Defined benefit pension plans`|`Defined benefit pension plans`| |---|---|---| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |`Defined benefit obligation brought forward`|`40,300`|`127,700`| |`Interest cost`|`1,800`|`2,100`| |`Actuarial losses/(gains)`|`(15,600)`|`(74,900)`| |`Benefits paid`|`(7,400)`|`(14,600)`| |||| |`Defined benefit obligation carried forward`|`(19,100)`|`(40,300)`| |||| ``` Principal actuarial assumptions at the balance sheet date (expressed as weighted averages): ``` ||`31.12.23`|`31.12.22`| |---|---|---| |`Discount rate`|`4.40%`|`4.95%`| |`Future pension increases`|`2.50%`|`2.30%`| ``` continued... ``` ``` Page 28 ``` ``` The Vincent Society Trading as CMJ UK ``` ``` Notes to the Financial Statements - continued ``` ``` for the Year Ended 31 December 2023 ``` ## **`23. EMPLOYEE BENEFIT OBLIGATIONS - continued`** ## **`Defined contribution scheme`** ``` Thecharityoperatesadefinedcontributionpensionscheme.Thepensioncostchargerepresentscontributionspayable by the charity to the fund and amounted to £16,887 (2022: £21,725). ``` ## **`24. RELATED PARTY DISCLOSURES`** ``` Remunerationpaidtokeymanagementpersonnelwas£127,966(2022:£110,099).Aresidentialpropertywas provided for the use of a member of key management personnel whose remuneration was reduced to reflect this benefit. ``` ``` Page 29 ``` ``` The Vincent Society Trading as CMJ UK ``` ## `Detailed Statement of Financial Activities for the Year Ended 31 December 2023` |`Detailed Statement of Financial Activities`
`for the Year Ended 31 December 2023`||| |---|---|---| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |**`INCOME AND ENDOWMENTS`**||| |**`Donations and legacies`**||| |`Appeals`|`77,726`|`32,510`| |`Donations`|`395,981`|`339,249`| |`Gift aid`|`36,085`|`36,634`| |`Legacies`|`76,503`|`94,154`| ||`586,295`|`502,547`| |**`Other trading activities`**||| |`Olive Press sales`|`5,562`|`4,411`| |`Royalties`|`21,086`|`22,629`| ||`26,648`|`27,040`| |**`Investment income`**||| |`Rents received`|`7,000`|`-`| |`Deposit account interest`|`2,744`|`1,073`| |`Other interest receivable`|`11,692`|`-`| |`(Loss)/gain on disposal of investment`|`397`|`352`| ||`21,833`|`1,425`| |**`Charitable activities`**||| |`Charitable activities`|`93,343`|`72,553`| |**`Total incoming resources`**|`728,119`|`603,565`| |**`EXPENDITURE`**||| |**`Other trading activities`**||| |`Fundraising and publicity`|`42,939`|`30,529`| |**`Charitable activities`**||| |`Engagement and youth work salaries`|`228,666`|`201,882`| |`Social security`|`9,793`|`15,599`| |`Engagement and youth work pensions`|`8,656`|`14,190`| |`Sundries`|`-`|`278`| |`Israel`|`147,932`|`98,533`| |`Engagement`|`59,432`|`64,861`| |`Annual conference`|`83,209`|`81,631`| |`CMJ Days`|`18,252`|`32,274`| |`Carried forward`|`555,940`|`509,248`| ``` This page does not form part of the statutory financial statements ``` ``` Page 30 ``` ``` The Vincent Society ``` ``` Trading as CMJ UK ``` ``` Detailed Statement of Financial Activities for the Year Ended 31 December 2023 ``` |`Detailed Statement of Financial Activities`
`for the Year Ended 31 December 2023`||| |---|---|---| ||`31.12.23`|`31.12.22`| ||`£`|`£`| |**`Charitable activities`**||| |`Brought forward`|`555,940`|`509,248`| |`Olive Press`|`13,036`|`5,730`| |`Freehold property`|`5,138`|`4,378`| ||`574,114`|`519,356`| |**`Support costs`**||| |**`Staff costs`**||| |`Wages`|`105,419`|`87,594`| |`Social security`|`7,283`|`5,386`| |`Pensions`|`8,231`|`7,535`| ||`120,933`|`100,515`| |**`Administration`**||| |`Trustees' expenses`|`5,932`|`7,227`| |`Rent and rates`|`30,074`|`35,191`| |`Insurance`|`6,802`|`4,173`| |`Light and heat`|`11,487`|`12,101`| |`Telephone`|`3,987`|`4,128`| |`Postage and stationery`|`3,661`|`8,614`| |`Sundries`|`2,563`|`9,778`| |`Bank charges`|`5,630`|`4,502`| |`Subscriptions`|`1,391`|`812`| |`Professional fee`|`8,808`|`10,810`| |`Staff expenses`|`1,107`|`4,132`| |`Repairs and renewals`|`8,058`|`8,352`| |`Staff training`|`2,044`|`4,364`| |`Fixtures and fittings`|`1,880`|`1,759`| ||`93,424`|`115,943`| |**`Governance costs`**||| |`Independent examiners fee`|`6,600`|`6,600`| |`Interest on pension scheme liabilities`|`1,800`|`2,100`| ||`8,400`|`8,700`| |`Total resources expended`|`839,810`|`775,043`| |**`Net expenditure before gains and losses`**|`(111,691)`|`(171,478)`| |**`Realised recognised gains and losses`**||| |`Realised gains/(losses) on fixed asset investments`|`21,779`|`(158,055)`| |**`Net expenditure`**|`(89,912)`|`(329,533)`| ``` This page does not form part of the statutory financial statements ``` ``` Page 31 ```