2023-03-31-accounts - Cam International

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Registered charity number: 1153577

REPORT OF THE TRUSTEES AND

F INANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CAM INTERNATIONAL

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE FOR THE YEAR ENDED 31 MARCH 2023

	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 2023

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 Andrew McManus
	Mr Fletcher Kusaloka
	Mr Paul Stephenson
	Ms Anne Dyer
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:	Edward Connor Solicitors
	10 The Point
	Market Harborough
	LE16 7QU
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 2023

The Trustees present their Annual Report and Financial Statements for the year ended 31 March 2023.

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, in consultation with the 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 (Retired 09/11/22)

Rev Andrew McManus Mr Fletcher Kusaloka Mr Paul Stephenson Ms Anne Dyer (Appointed 24/03/23)

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 meet with the Chair and the Administrator to 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 worldwide. 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 2023

Objectives and Activities – continued

The charity 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 with which the charity is partnering.

Currently the charity supports work in DR Congo, Zambia, Mozambique, Ethiopia and the African Diaspora in the UK. Projects with which the charity is partnering are: Evangelists/church planters; Bible Schools; Prison ministry; Education; Medical work; Church leadership training; Youth 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 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 have decreased from the previous year by just £1,978 which shows that the impact of the coronavirus epidemic has levelled out and other current world issues have not had a material impact on donations. The realised gain for the unrestricted funds of £33,691 has arisen as donations increased by over £10,000 and expenditure on repairs was considerably less. In 2022 £11,800 was spent on rebuilding the gable wall at 355 Blackpool Road after it collapsed, which was an exceptional item.

Total funds as shown on the balance sheet are now £652,398, consistent with the previous year (£ 224). Of this cash at bank was £119,857 and the market value of the investments were £838,014. Investments at the year-end included £100,000 transferred from cash at the bank and a decrease in the market value of investments by £20,203. Last year the increase in market value was £17,815. This reflects the volubility of the stock markets following 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.

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 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 2023 funds held by the charity were as follows:

Restricted Funds - Raggatt Fund (see ‘Restricted Funds’ below)	£ 296,652
Trustees’ Designated Funds – (see ‘Designated Funds’ below)	£ 184,369
Trustees’ Reserves (see ‘Reserves Policy’ above)	£ 100,000
Undesignated Funds available for general use	£ 71,377

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 2023

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 some of the areas where Cam operates, 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: 26 September 2023

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 2023 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: 26 September 2023

Page 5

CAM INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES INCOME AND EXPENDITURE ACCOUNT FOR THE FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Funds 31/03/23 £ 206,866 3,069 1,407 211,342 175,977 1,674 177,651	Restricted Funds 31/03/23 £ 271,700 1,625 - 273,325 303,721 - 303,721	Total Funds 31/03/23 £ 478,566 4,694 1,407 484,667 479,698 1,674 481,372	Total Funds 31/03/22 £ 483,905 4,196 2,139
			490,240
			435,637 1,500
			437,137
33,691 (12,956) 20,735 - - 20,735 335,011	(30,396) (7,247) (37,643) 14,167 2,965 (20,511) 317,163	3,295 (20,203) (16,908) 14,167 2,965 224 652,174	53,103 17,815
			70,918 (4,024) 1,434
			68,328 583,846
355,746	296,652	652,398	652,174

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 2023

Unrestricted Funds 31/03/23 £ 1,726 222,048 223,774 17,531 119,857 137,388	Restricted Funds 31/03/23 £ - 616,966 615,966 - - -	Total Funds 31/03/23 £ 1,726 838,014 839,740 17,531 119,857 137,388	Total Funds 31/03/22 £ 1,606 793,540
			795,146
			41,198 155,284
			196,482
169 4,481 766 - - 5,416 131,972 355,746 355,746 - 355,746	- - - 297,385 21,929 319,314 (319,314) 296,652 - 296,652 296,652	169 4,481 766 297,385 21,929 324,730 (187,342) 652,398 355,746 296,652 652,398	152 2,856 - 311,552 24,894
			339,454

			(142,972)

			652,174
			335,011 317,163
			652,174

The financial statements were approved by the Board of Trustees on 26 September 2023 and were signed on its behalf by:

Rev Andrew Ramsey – Chair Trustee

The notes form part of these financial statements

Page 7

NOTES TO THE FINANCIAL STATEMENTS FOR THE FOR THE YEAR ENDED 31 MARCH 2023

CAM INTERNATIONAL

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 2019) 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	-	331/3% 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.

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 £ 134,629 72,237 206,866	Restricted Funds £ 271,700 - 271,700	Total 31/03/23 £ 406,329 72,237 478,566	Total 31/03/22 £ 408,307 75,598 483,905

Page 8

continued...

CAM INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE FOR THE YEAR ENDED 31 MARCH 2023

3. INVESTMENT INCOME

Unrestricted Funds £ Interest received 214 Dividends received 2,855 3,069 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Unrestricted Funds £ CONTACT magazine 1,407 Literature and press - 1,407 CHARITABLE ACTIVITIES Unrestricted Funds £ Mission field activities - Donations 90,285 Publicity 10,825 Staff costs 6 52,808 Property costs 4,437 Administration costs 17,582 Depreciation 40 175,977 STAFF COSTS Unrestricted Funds £ Salaries 40,817 Services rendered 11,585 Employer’s pension contributions 406 52,808	Restricted Funds £ 120 1,505 1,625 Restricted Funds £ - - - Restricted Funds £ 250,917 50,358 - - - 2,446 - 303,721 Restricted Funds £ - - - -	Total 31/03/23 £ 334 4,360 4,694 Total 31/03/23 £ 1,407 - 1,407 Total 31/03/23 £ 250,917 141,183 10,825 52,808 4,437 20,028 40 480,238 Total 31/03/23 £ 40,817 11,585 406 52,808	Total 31/03/22 £ 13 4,183 4,196 Total 31/03/22 £ 2,139 - 2,139 Total 31/03/22 £ 241,803 105,068 11,883 41,963 15,664 19,212 44 435,637 Total 31/03/22 £ 31,473 10,105 385 41,963

4.

5. 6. STAFF COSTS

During the period the average number of staff employed by the charity was 2

7. GOVERNANCE COSTS

	Unrestricted	Restricted	Total	Total
	Funds	Funds	31/03/23	31/03/22
	£	£	£	£
Independent Examiners fee	1,674	-	1,674	1,500

Page 9

continued...

CAM INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE FOR THE YEAR ENDED 31 MARCH 2023

8. TANGIBLE FIXED ASSETS

COST At 1 April 2022 Additions At 31 March 2023 DEPRECIATION At 1 April 2022 Charge for period At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022	Freehold property Equipment £ £ 1,500 3,364 - 160 1,500 3,524 - 3,258 - 40 - 3,298 1,500 226 1,500 106	Totals £ 4,864 160
		5,024
		3,258 40
		3,298
		1,726
		1,606

9. INVESTMENTS

As at 01/04/22 £ Novia Financial plc 793,540 792,540 H AT BANK AND IN HAND Co-op Bank Cash	New investment £ 100,000 100,000	Decrease in valuation £ (20,203) (20,203)	Income received £ 4,530 4,530	Withdrawal & charges £ (39,853) (39,853)	Balance 31/03/23 £ 838,014
					838,014
					31/03/23 £ 117,666 2,191 119,857

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 £10,444

Page 10

continued...

CAM INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE FOR THE YEAR ENDED 31 MARCH 2023

12. RESTRICTED FUNDS

13.

As at 01/04/22 £ 311,552 24,894	Income £ 236,750	Expenses £ (250,917) (37,915)	Transfers £ - -	Changes in Market Value £ - -	Total 31/03/23 £ 297,385
	34,950				21,929
317,163 - 317,163	1,625 - 1,625	(14,889) - (14,889)	- - -	(7,247) - (7,247)	296,652 -
					296,652
	Income £ 46,798 72,237 - - 572 81,652 83 - 8,000 - 2,000 211,342	Expenses £ (111,027) (16,311) - - - - (19,500) (14,513) (10,300) - (6,000) (177,651)	Decrease in funds Represented by: Unrealised loss Realised loss Transfers £ Changes in Market Value £ 77,185 (12,956) (77,185) - - - - - - - - - - - - - - - - - - - - - - (12,956)
					(20,511)
					(7,247) (13,264) (20,511) Total 31/03/23 £ 100,000 71,377 2,779 5,327 8,578 137,790 90 29,528 (3,525) 2,322 (61) 1,001
					355,746
			Increase in funds: Represented by: Unrealised loss Realised gain
					20,735
					(12,956) 33,691 20,735

UNRESTRICTED FUNDS

Page 11

CAM INTERNATIONAL

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE FOR THE YEAR ENDED 31 MARCH 2023

Restricted Income – Missionary income Donations and gift aid Investment income received Overseas missionary field activities Donations Expenses Unrestricted income – UK activities Donations and gift aid Sales of Contact Magazine Investment income 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 Office travel expenses Publicity costs Missionary insurance Trustee UK travel expenditure Postage and stationery Telephone and internet Subscriptions Accountancy Professional fees Sundry expenses Finance costs Bank charges Investment charges Depreciation Fixtures and fittings NET SURPLUS		2023 £ 271,700 1,625 273,325 (250,917) (50,358) (2,446) 303,721 206,866 1,407 3,069 211,342 10,825 90,285 52,808 333 2,520 1,277 307 - 95 600 1,933 1,942 879 2,075 2,481 1,674 2,084 245 356 4,892 40 177,651	£ (30,396) 33,691 3,295		2022 £ 284,560 1,500 286,060 (241,803) (49,371) (2,687) 293,861 199,345 2,139 2,696 204,180 11,068 55,697 41,963 333 2,427 1,093 11,811 - 34 815 3,793 - 511 1,816 2,702 1,500 1,848 53 393 5,375 44 143,276	£ (7,801) 60,904 53,103

Page 12

Signatures' technical details

`Signatures`

`camafrica355@gmail.com`

18/10/2023, 09:34:47 BST

`Fingerprint`

34e6f74aa379f4f5277d32d92388fb05a3ca6b91
Signature
Andrew Ramsey

`Event log`

10.50.11.18529/09/2023, 14:20:28 BST
Signing request created.
System29/09/2023, 14:20:30 BST
Notification sent to camafrica355@gmail.com.
System02/10/2023, 15:19:51 BST
Signing page opened by signee camafrica355@gmail.com.
System02/10/2023, 15:20:00 BST
Signing page opened by signee camafrica355@gmail.com.
System18/10/2023, 06:37:26 BST
Signing page opened by signee camafrica355@gmail.com.
System18/10/2023, 06:37:39 BST
Signing page opened by signee camafrica355@gmail.com.
System18/10/2023, 09:34:25 BST
Signing page opened by signee camafrica355@gmail.com.
System18/10/2023, 09:34:47 BST
Signee camafrica355@gmail.com signed document.
System18/10/2023, 09:34:47 BST
Signing process completed.
Summary
Envelope's ID:2h58bac1
Document's hash:40de87ae29b0b4c53b92310323e8cf53c75e48a84feee801ddb1062122b93ce6
Final stamp:18/10/2023, 09:34:49 BST

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