2021-03-31-accounts - Cam International

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Registered charity number: 1153577

REPORT OF THE TRUSTEES AND

F INANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

CAM INTERNATIONAL

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE FOR THE YEAR ENDED 31 MARCH 2021

	Page
Charity Information	1
Report of the Trustees	2-4
Report of the Independent Examiners	5
Statement of Financial Activities and	6
Income and Expenditure Account
Balance Sheet	7
Notes to the Financial Statements	8-11
Detailed Income and Expenditure Account	12

CAM INTERNATIONAL

REFERENCE AND ADMINISTRATION NFORMATION FOR THE FOR THE YEAR ENDED 31 MARCH 2021

CHARITY NAME:	CAM International
REGISTERED CHARITY NUMBER:	1153577
CHARITY’S PRINCIPAL ADDRESS:	355 Blackpool Road
	PRESTON
	Lancashire
	PR2 3AB
TRUSTEES:	Rev Andrew Ramsey (Chair)
	Rev Maureen Lee
	Rev Andrew McManus
	Mr Fletcher Kusaloka
	Mr Paul Stephenson
BANKERS:	The Co-Operative Bank plc
	Business Direct
	PO Box 250
	Skelmerdale
	WN8 6WT
INVESTMENT BANK:	Novia Financial plc
	Cambridge House
	Henry Street
	Bath
	Somerset
	BA1 1JS
SOLICITORS:	Geldards LLP
	Number One Pride Place
	Pride Park
	Derby
	DE24 8QR
INDEPENDENT EXAMINERS:	TCP
	10 the triangle
	ng2 business park
	nottingham
	NG2 1AE

Page 1

CAM INTERNATIONAL

REPORT OF THE TRUSTEES FOR THE FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their Annual Report and Financial Statements for the year ended 31 March 2021.

STRUCTURE, GOVERNANCE AND MANAGEMENT

CAM International is a Foundation model Charitable Incorporated Organisation (CIO) registered with the Charity Commission. The charity’s activities are regulated by a constitution dated 29[th] August 2013.

The day to day management of the charity is in the hands of the Administrator, consulting Chair and other Trustees as necessary.

CAM International is the successor charity of the charitable trust Central African Missions (reg. no. 1049246 now listed on the Charity Commission’s Register of Mergers), formerly known as Zaire Evangelistic Mission, which in its turn was the successor charity to Congo Evangelistic Mission (reg. no. 250779). These changes reflect either political upheavals in Africa (particularly the change of country names) or the changing charity scene in the UK.

The Trustees acknowledge with thanks, over 100 years of continued missionary activity in Africa since its first missionaries, William FP Burton and James Salter, arrived at Mwanza, Katanga, Belgian Congo on 1 September 1915. CAM International continues to maintain the same objectives and aims as its founders.

Trustees

The trustees of the charity are:

Rev Andrew Ramsey (Chair) Rev Maureen Lee Rev Andrew McManus Mr Fletcher Kusaloka Mr Paul Stephenson

Trustees are appointed for a 3-year period and are eligible for reappointment. Charity trustees are appointed by the continuing trustees.

All trustees, with the exception of Rev Andrew Ramsey, give of their time freely and receive no remuneration. Rev Andrew Ramsey receives no remuneration in respect of his trusteeship, but does in respect of the work done as Assistant Administrator.

Trustees’ meetings are normally held four times a year. At these the trustees consider and review all major activities of the charity, taking any necessary decisions and give any necessary instructions to the Administrator. In between trustees’ meetings the Administrator will consult the trustees by telephone or email when necessary.

Trustees’ Responsibilities

The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with general applicable law and United Kingdom Accounting Standards (United Kingdom General Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP 2015;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees recognise their responsibility for ensuring that the Charity has up-to-date Policies, including Safeguarding, Data Protection, Equal Opportunities, Health and Safety and Investment policies

Objectives and Activities

The charity’s purpose, as set out in the object contained in the CIO’s constitution, is the advancement of the Christian religion and furtherance of charitable works in Africa and such other parts of the world as the trustees may from time to time think fit. The activities of the charity fully reflect the purposes for which it was set up.

Page 2

CAM INTERNATIONAL

REPORT OF THE TRUSTEES continued… FOR THE FOR THE YEAR ENDED 31 MARCH 2021

Objectives and Activities – continued

The charity in Africa works principally in the areas of evangelism, Bible and literature translation and distribution, Bible teaching, education, youth and children’s’ work, relief activities and medical work. This is primarily achieved through the donation of funds to associate missionary workers and to local projects in Africa with which the charity is partnering.

Currently the charity has associate missionary workers in DR Congo, Zambia, Mozambique and the African Diaspora in the UK. The charity also regularly supports work in the above countries and in Ethiopia. Projects with which the charity is partnering are: Evangelists/church planters; Bible Schools; Prison ministry; Education; Medical work; Church leadership training; Youth work; Street kids work; Refugees and Displaced people.

The trustees have considered the Charity Commission’s guidance on public benefit, in particular that relating to the advancement of religion, the advancement of health and education, and the relief of poverty. It is their belief that the activities of the charity comply with their duty of due regard to the commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant.

PLANS FOR THE FUTURE

A major consideration for the charity continues to be the strengthening of existing partnerships with different projects and personnel in Africa and future extension beyond the charity’s current areas of work.

The trustees continue to be open to consider applications from suitable personnel who feel called to missionary work with the charity.

FINANCIAL REVIEW

Financial Position

The state of the charity’s affairs is considered to be satisfactory. Excluding investment income and legacy gifts, the total of other gifts and donations has increased from the previous year by £94,415, which was good news in the year when the world was greatly impacted by the spread of the coronavirus pandemic. But overall income, excluding investment income, was down on the previous year due to the drop in legacy gifts and although expenditure was carefully monitored and controlled in the year, the final result was a realised deficit of £38,042.

Total funds as shown on the balance sheet are now £583,846, a healthy increase from the previous year of £57,234. Of this cash at bank was £88,228 and the market value of the investments were £810,975. The market value of investments show an increase of £166,390. Last year the decrease was £70,569. This reflects the volubility of the stock markets during the covid period and demonstrates the impact external market forces can have on the on-going valuation of the investments stated in the accounts. It should, however, be recognised that this is purely due to movements in the market as opposed to changes in management policy. It should also be noted that the investments are held for long term gain and so market fluctuations are inevitable. The increase in market value is an unrealised gain and only if sold would be the proceeds be available for use within the charity.

Reserves Policy

The trustees recognise that: (i) the risks associated with working in Africa (sickness, civil unrest, etc.) could have serious financial repercussions and (ii) a falloff in the level of donations would considerably curtail the charity’s activities.

To adequately cover these eventualities and to provide an emergency buffer to smooth out fluctuations in income, CAM International’s trustees have agreed to maintain a reserve fund in the region of £75-100,000 (approximately 3 months income/expenditure).

The trustees consider that its principal asset, the property at 355 Blackpool Road, Preston, has a market value of £100,000.

Funds Received by the Charity

The charity is almost 100% dependent on voluntary donations from churches, individuals and other organisations to sustain its activities in Africa and in its UK office. All gifts, bequests and other income received have been applied to the work of missionaries and workers in Africa or to costs associated with running the Charity. All restricted funds are used solely for the purposes stated by the donors.

At 31[st] March 2021 funds held by the charity were as follows:

Restricted Funds - Raggatt Fund (see ‘Restricted Funds’ below)	£ 321,164
Trustees’ Designated Funds – (see ‘Designated Funds’ below)	£ 124,008
Trustees’ Reserves (see ‘Reserves Policy’ above)	£ 100,000
Undesignated Funds available for general use	£ 38,674

Restricted Funds: It should be noted that a large proportion of the funds held by the Charity are restricted funds. These represent funds for which the donors have stipulated a specific usage. Such funds can only be used in accordance with the donor’s stated purposes, and cannot be applied to any other project or activity within the charity.

‘Restricted Funds – ‘Charitable Activities’ represents (i) the running balance of funds received for specific projects and funds expended on those activities; and (ii) funds received up-front for future projects.

Page 3

CAM INTERNATIONAL

REPORT OF THE TRUSTEES continued… FOR THE FOR THE YEAR ENDED 31 MARCH 2021

Funds Received by the Charity - continued

‘Restricted Funds – Raggatt Fund’ represents the continuing funds from a large donation received in 1952 primarily to provide financial/material help for retired, long term missionaries who often experience financial difficulties on retirement and for help in exceptional circumstances for current missionaries and workers.

Trustees’ Designated Funds: Funds put aside by the Trustees for specific, designated, future purposes and are therefore not considered available for general use.

Undesignated Funds: Funds held by the charity which have no restriction put upon them by the donor and which can be applied by the trustees, as they see fit, within the objectives of the charity.

Investment Policy

The Trustees hold the responsibility to invest the charity's funds for long-term growth whilst having funds readily available for current or emergency needs. All investments made by the trustees are reviewed on a regular basis. The charity has appointed a professional investment management firm to manage a significant proportion of the charity’s investments, on an advisory basis. The investment manager provides a performance report on a quarterly basis.

Risk Management

During the past year all the mission Policies and Procedures have been updated. All risks were reviewed and no further action has been identified. The situation is unstable in parts of Congo but the trustees and missionaries keep an eye on the situation so that they can respond accordingly. The financial situation is currently stable.

On behalf of the Trustees

Rev Andrew Ramsey – Chair

Date: 15 September 2021

Page 4

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF CAM INTERNATIONAL

I report to the charity’s trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages six to eleven.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's statement

Since the charity’s income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants England and Wales (ICAEW) which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached

Mrs Rachel Wheldon FCA CTA 10 the triangle ng2 business park nottingham NG2 1AE

Date: 15 September 2021

Page 5

CAM INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES INCOME AND EXPENDITURE ACCOUNT FOR THE FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted Funds 31/03/21 £ 67,337 8,517 1,870 77,724 148,519 1,500 150,019	Restricted Funds 31/03/21 £ 450,616 4,549 - 455,165 420,912 - 420,912	Total Funds 31/03/21 £ 517,953 13,066 1,870 532,889 569,431 1,500 570,931	Total Funds 31/03/20 £ 577,751 5,565 2,523
			585,839
			529,345 1,500
			530,845
(72,295) 106,706 34,411 (2,342) - - 32,069 230,613	34,253 59,684 93,937 2,342 (57,934) (13,180) 25,165 295,999	(38,042) 166,390 128,348 - (57,934) (13,180) 57,234 526,612	54,994 (70,569)
			(15,575) (22,724) (714)
			(39,013) 565,625
262,682	321,164	583,846	526,612

All the above results are derived from continuing operations. All gains and losses in the financial period are included above.

The notes form part of these financial statements

Page 6

CAM INTERNATIONAL

BALANCE SHEET 31 MARCH 2021

Unrestricted Funds 31/03/21 £ 1,650 156,630 158,280 - 19,192 88,228 107,420	Restricted Funds 31/03/21 £ - 654,345 654,345 - - - -	Total Funds 31/03/21 £ 1,650 810,975 812,625 - 19,192 88,228 107,420	Total Funds 31/03/20 £ 2,139 666,271
			668,410
			- 12,153 114,784
			126,937
74 2,944 - - - 3,018 104,402 262,682 262,682 - 262,682	- - - 307,528 25,653 333,181 (333,181) 321,164 - 321,164 321,164	74 2,944 - 307,528 25,653 336,199 (228,779) 583,846 262,682 321,164 583,846	2,127 4,016 525 249,594 12,473
			268,735

			(141,798)

			526,612
			230,613 295,999
			526,612

The financial statements were approved by the Board of Trustees on 15 September 2021 and were signed on its behalf by:

Rev Andrew Ramsey – Chair Trustee

The notes form part of these financial statements

Page 7

CAM INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities (Charities SORP 2015) UK accounting standards and the Charities Act 2011.

Funds

Funds held by the charity are:

Unrestricted funds - these are funds which can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds - these are funds set aside by the trustees out of unrestricted funds for specific future purposes or projects. The trustees regularly review fund balances on the basis of identified needs.

Restricted funds - these are funds that can only be used for the specific restricted purposes within the objects of the charity. The restrictions arise when specified by the donor or when the funds are raised for a particular restricted purpose.

Income recognised

Incoming resources, including donations, legacies and grants are recognised in the period to which they relate. The value of services provided by volunteers has not been included on the basis that the value cannot reasonably be quantified. Grants, including grants of a capital nature, are recognised in the Statement of Financial Activities in accordance with the Statement of Recommended Practice.

Expenditure

Expenditure is accounted for on an accruals basis and is allocated to the relevant cost category in accordance with internal guidelines issued by the charity and is appropriate to the use derived from the resource.

Taxation

The activities of the charity are exempt from income tax on the net incoming resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - Nil - Equipment 15% on reducing balance Computer equipment - 33[1] /3% on straight line basis

Investments

Investments are included at current market value. Any unrealised gain or loss is applied to the relevant fund account. All investment income received is allocated between fund accounts on behalf of which the investments are held.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Foreign Currencies

Transactions in foreign currencies are translated into sterling at the date of transfer of funds to the field. The trust holds no monetary assets and liabilities denominated in foreign currencies. Exchange gains and losses are taken to the Statement of Financial Activities.

Raggatt Fund

Funds were originally provided under a separate South African Trust (the Raggatt Trust) to provide the support of long serving missionaries and, on a discretionary basis, assist the alleviation of individual cases of hardship. The trustees of the Raggatt Trust subsequently transferred all assets to Central African Missions and then to CAM International. The income generated from these investments is separately identified and the Raggatt Fund is treated as a restricted fund.

2. VOLUNTARY INCOME

Gifts and donations Legacies Total incoming resources	Unrestricted Funds £ 45,724 21,613 67,337	Restricted Funds £ 450,616 - 450,616	Total 31/03/21 £ 496,340 21,613 517,953	Total 31/03/20 £ 401,925 175,826 577,751

Page 8

continued...

CAM INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE FOR THE YEAR ENDED 31 MARCH 2021

3. INVESTMENT INCOME

Unrestricted Funds £ Interest received 3,966 Dividends received 4,551 8,517 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Unrestricted Funds £ CONTACT magazine 1,870 Literature and press - 1,870 CHARITABLE ACTIVITIES Unrestricted Funds £ Mission field activities - Donations 54,303 Publicity 13,146 Staff costs 6 45,816 Property costs 5,937 Administration costs 28,828 Depreciation 489 148,519 STAFF COSTS Unrestricted Funds £ Salaries 36,982 Services rendered 8,445 Employer’s pension contributions 389 45,816	Restricted Funds £ 2,004 2,545 4,549 Restricted Funds £ - - - Restricted Funds £ 375,540 45,372 - - - - - 420,912 Restricted Funds £ - - - -	Total 31/03/21 £ 5,970 7,096 13,066 Total 31/03/21 £ 1,870 - 1,870 Total 31/03/21 £ 375,540 99,675 13,146 45,816 5,937 28,828 489 569,431 Total 31/03/21 £ 36,982 8,445 389 45,816	Total 31/03/20 £ 2,258 265 5,565 Total 31/03/20 £ 2,258 265 2,523 Total 31/03/20 £ 306,260 121,729 14,082 48,503 5,528 32,415 828 529,345 Total 31/03/20 £ 38,074 10,040 389 48,503

4.

5. 6. STAFF COSTS

During the period the average number of staff employed by the charity was 3

7. GOVERNANCE COSTS

	Unrestricted	Restricted	Total	Total
	Funds	Funds	31/03/21	31/03/20
	£	£	£	£
Independent Examiners fee	1,500	-	1,500	1,500

Page 9

continued...

CAM INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE FOR THE YEAR ENDED 31 MARCH 2021

8. TANGIBLE FIXED ASSETS

IBLE FIXED ASSETS
COST At 1 April 2020 Additions At 31 March 2021 DEPRECIATION At 1 April 2020 Charge for period At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 TMENTS Novia Financial plc AT BANK AND IN HAND Co-op Bank Cash	As at Increase in 01/04/19 valuation £ £ 666,271 166,390 666,271 166,390	Freehold property Equipment £ £ 1,500 3,364 - - 1,500 3,364 - 2,725 - 489 - 3,214 1,500 150 1,500 639 Income Withdrawal received & charges £ £ 12,683 34,369 12,683 34,369	Totals £ 4,864 - 4,864 2,725 489 3,214 1,650 2,139 Balance 31/03/21 £ 810,975 810,975 31/03/21 £ 86,860 1,368 88,228

INVESTMENTS

9. 10. CASH AT BANK AND IN HAND

11. TRANSACTIONS WITH TRUSTEES AND CONNECTED PARTIES

The travel expenses to Trustee meetings and the Annual retreat for each trustee have been met out of the general fund. Salaries paid to Trustees and related parties totalled £11,874.

Page 10

continued...

CAM INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE FOR THE YEAR ENDED 31 MARCH 2021

12. RESTRICTED FUNDS

13.

As at 01/04/20 £ Creditors (Restricted) Missionaries Field accounts 249,594 Creditors (Restricted) Missionaries UK accounts 12,473 Restricted Funds Raggatt Fund 266,516 Centenary Fund 29,482 295,998 STRICTED FUNDS As at 01/04/20 £ Unrestricted Funds Trustees’ reserves 100,000 Legacies 63,802 Trustees Designated Funds New Fields’ funds 2,779 Candidates’ funds 5,327 Literature & press account 8,001 Plane fund 17,873 Christmas fund - Short term funds: Directors allocation fund 5,000 Africa fund 22,000 Africa travel fund 5,830 Partnerships - 230,612	Income £ 404,504	Expenses £ (375,540) (32,932) (9,586) (2,854) (12,440) Expenses £ (84,398) (43,370) - - - - (3,931) - (11,012) (356) (6,952) (150,019)	Transfers £ Changes in Market Value £ 28,970 - - - - 59,684 (26,628) - (26,628) 59,684 Increase in funds Represented by: Unrealised gains Realised loss Transfers £ Changes in Market Value £ - 50,131 (3,372) - - - - - - - - - - - 1,030 56,575 - - - - - - (2,342) 106,706 Increase in funds: Represented by: Unrealised gains Realised loss	Total 31/03/21 £ 307,528
	46,112 4,549 - 4,549 Income £ 34,267 21,613 - - - - 3,931 7,460 - - 10,453 77,724			25,653
				321,164 -
				321,164

				25,165
				59,684 (34,519) 25,165 Total 31/03/21 £ 100,000 38,674 2,779 5,327 8,001 17,873 - 70,065 10,988 5,474 3,501
				262,682

				32,069
				106,706 (74,637) 32,069

UNRESTRICTED FUNDS

Page 11

CAM INTERNATIONAL

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE FOR THE YEAR ENDED 31 MARCH 2021

Restricted Income – Missionary income Donations and gift aid Investment income received Overseas missionary field activities Donations Unrestricted income – UK activities Donations and gift aid Sales of Contact Magazine Interest received Direct Expenditure Cost of the sales of Contact Magazine Donations Administration costs Staff costs Rates Light, heat and utilities Insurance Repairs and renewals Missionary and trustees overseas costs Bible distribution Office travel expenses Publicity costs Missionary insurance Trustee UK travel expenditure Postage and stationery Telephone and internet Subscriptions Accountancy Sundry expenses Finance costs Bank charges Investment charges Depreciation Fixtures and fittings NET (DEFICIT)/SURPLUS	2021 £ 450,616 4,549 455,165 (375,540) (45,372) 420,912 67,337 1,870 8,517 77,724 12,476 54,303 45,816 333 3,446 1,390 768 11,369 - 135 670 3,333 266 796 2,007 2,788 1,500 384 184 7,566 489 150,019	£ 34,253 (72,295) (38,042)	2020 £ 338,848 1,996 340,844 (306,260) (28,089) 334,349 238,903 2,523 3,569 244,995 13,376 93,460 48,503 328 2,321 999 4,117 7,724 - 884 706 5,196 1,276 2,389 1,770 2,647 1,500 3 1,150 7,139 828 196,496	£ 6,495
				48,499

				54,994

Page 12

Signatures' technical details

`Signatures`

`camafrica355@gmail.com`

21/09/2021, 12:24:43 BST

`Fingerprint`

6bfc36320e8156bfde18099b5f6a0b4b941a268e

`Signature`

">

`Event log`

10.50.11.6215/09/2021, 15:29:34 BST
Signing request created.
System15/09/2021, 15:29:35 BST
Notification sent to camafrica355@gmail.com.
System21/09/2021, 12:22:38 BST
Signing page opened by signee camafrica355@gmail.com.
System21/09/2021, 12:24:43 BST
Signee camafrica355@gmail.com signed document.
System21/09/2021, 12:24:43 BST
Signing process completed.

`Summary`

Envelope's ID:9i22cd5f
Document's hash:33ceca906887a3842fed4107777c7200d38abaece3401b104c111865b6984915
Final stamp:21/09/2021, 12:24:47 BST

----- Start of picture text -----
Verification QR Code
----- End of picture text -----