REGISTERED CHARITY NUMBER: 1153577 Report of the Trustees and Financial Statements for the Year Ended 31 March 2025 for CAM International Mcmillan & Co LLP Chartered Accountants and Slatulory Auditor 28 Ealon Avenue Matrix Office Park Buckshaw Village Chorley Lancashire PR7 7NA
CAM International Contents of the Financlal Statements for tho year ended 31 March 2025 Page Reference and Admlnlslratlve Delalls Report of the Trust8eS Roport of th8 Independent Audltors 8 10 10 Stat8ment of Flnanclal Acllvltles Balance Sheet 12 Cash Flow Statement 13 Notes to the Cash Flow Statamènl 14 Notes to th8 Flnanclal Statements 15 10 24 Detalled Statement of Financial Activitleg 25 10 26
CAM International Reference and Admlnlstrative Details for the year ended 31 March 2025 Charlty Name CAM International Reglstered Charlty Number 1153577 Charity's Principle Address 355 Blackpool Road Preston Lancashire PR2 3AB Trustees Mr Paul Stephenson (Chair) Rev Andrew Mcmanus Mr Fletcher Kusaloka Mrs Anne Dyer Mr Gordon McKillop lappoinled 16104124) Sollcltors Edward Connor Solicitors 10 The Point Market Harborough LA16 7QU Prlnclpal Bankors The Co-operative Bank plc Business Direct PO Box 250 Skelmerdale WN8 6WT Invèstment Managers Novia Financial plc Trading as Weallhtime Cambridge House Henry Street Bath Somersel BA1 1JS Audltors Mcmillan & Co LLP 28 Ealon Avenue Matrix Office Park Buckshaw Villago Chorley LancashSr8 PR7 7NA Page 1
CAM International Report of the Trustees for the year ended 31 March 2025 The Trustees present their Annual Report and Financial Statements for the year ended 31 March 2025. OBJECTIVES AND ACTIVITIES ObJ8Ctives and activitles The charity'5 purpose, as set out in th8 object contained in the CIO'S conslitulion, 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 sel up. The charity works principally in the areas of evangelism, Bible and literature translation and dislribulion. Bible teaching, education, youth and children's work, relief activities and medical work. This is primarily achieved Ihrough the donation of funds lo associate missionary workars and lo local projacls with which thè charity is partnering. Currently the charity supports work in DR Congo. Zambia, Mozambique. Elhlopia and the African Diaspora In the UK. Projects with which the charity is partnering are.. EvangelistslGhurch planters,. Bible Schools,. Prison ministry.. Education,. Medical work; Church leadership training., Youth work,. Refuge85 and Displaced people. Slgnlflcant actlvltles The following projects have been undertaken in Ihe year- Impact and Actlvltl68 During th8 financial year, CAM has continued lo advance ils mission of serving vulnerable communities across Zambia, Mozambique, the Democratic Republic of Congo IDRCI, and Ethiopia. Through the genefOUS SUPPOrt of our donors and partners, we have directed our resources toward initiatives that equip individuals with practical skills, offer critical medical support, bulld educational foundatlons, and promo18 Christian lea¢hing and discipleship. Skllls tralnlng In Zambla and Mozamblque CAM invested a significant portion of ils incom& Into skllls Iralnlng programmes designed to empower local communities in Zambia and Mozambique. These programmes provided a literacy program and vocational training in areas such as carpentry. tailoring, cookery, masonry and mechanics, enabling beneficiaries lo develop sustainable livelihoods. As a result, Individua15 and families are experiencing increased economic resilience and self-reliance. M8dlcal asslstance In Zambla and the DRC Access to basic healthcare remains a challenge in the reglons we seNe. Thls yéar, CAM funded medical initiatives and supported local health centres in both Zambia and th8 DRC. These efforts included the provision of essential medicines, health education, and mobile clinics reaching remole areas. Hundreds of individua15, including children and the 81derly, r8c8ived medical attention. contributing to improved health oulcomes and wellbeing. Constructlon of a prlmary school In Mozamblque Education is a cornerstone of long-lerm community transfomallon. In Mozambique, we helped finance the construction of a new primary school. Thls, together with the exisling pre-school, now provides access to edLicalion for over 150 children who previously had limited or no schooling opportunities. The school not only delivers academic learning but also promotes values of integrity, responsibility, and hope, in line with our Christian ethos. Page 2
CAM International Report of the Trustees for the year ended 31 March 2025 OBJECTIVES AND ACTIVITIES Provlslon of Ilterature in Zambla and tha DRC Throughout the year, we distributed thousands of copies of Christian literature in local languages across Zambia and the DRC. This included Bibles, discipleship materials, and study guides, which have supported pastors, church leaders, and believers in their faith journeys. These resources have been instrumental in slrengihening churches and fostering spiritual growlh in rural and urban communities alike. Evangelism and Bible teaching CAM has actively supported evangellsm and Bible teachlng In Zambia, Mozambique, Elhiopla, and the DRC. Through Bib18 conferences, training seminars. and local mission outreaches, hundr8ds of church leaders and laypeople were equipped with sound blblical tèaching. Evangelistic efforts led lo new churches being planted, and many individuals made personal commitments to follow Chri51. This year h8s been marked by chall6ng85, financial blessing and profound impact. The income we received has been faithfully stew8rded to make a tangible difference in the lives of those we serve. As we look fOard lo the year ahead, we remaln comrnitted to our mission.. transforming lives through practical help, education, and the message of hope found in the Gospel. Publlc benefit The Iruslees have considered the Charity Commlsslon's guidance on public benefit, in particular that relating lo the advancement of religion, the advancem8nt of health and 6clucation, and the reli8f of pov8rty. 11 is their belief that the activities of the charity comply with th8ir duty of due regard lo the commission's public benefit guidance when exercising any powers or duties to which the guidance is relevanl. PLANS FOR THE FUTURE A major consideration for the charity continues to be the slrenglhening of existing partnerships with different projects and personnel and future extension beyond the charity's current areas of work. The trustees conlinue to be open to consider applications from suitable personnel who feel called to mlssionary work with the charity. Page 3
CAM International Report of the Trustees for the year ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE Investment performance Investment Strategy and Allocation The funds for CAM International have been invested into globally diversified portfolios managed by Timeline Portfolios. specifically the "Timeline ESG Classic 60" and 'Timeline ESG Classic 40.. Thes8 Portfolios are designed to achieve long-term growth while adhering to environmental, social and governance IESGI standards. aligning with Ihe charity's ethical objectives. The investments are held within Weallhlime General Inveslmenl Accounts {GIAsl, with the following allocations: Tlmeline ESG Classlc {2°A Cashl 60: Equities Bond5 Cash 60/0 2% Geographical spread for the portfolio.. North Amerlca Europe Emerging markets United Kingdom Pacific Other 49° 140 130 13010 20 Tlmellne ESG Classlc1201• Cash) 40: Equities Bonds Cash 40/0 58°/0 2% Geographical spread for the portfollo.. North America Europe Emerging mark8ls United Kingdom Pacific Other 430/0 16Q/o 180/0 The portfolios consist of equily and bond funds focused on ESG-compliant companies, diversified across multiple regions lo mitigate counlry-specific risks. The new funds from the legacy gift were invested in Febnjary 2025 and allocated to thè above ESG-focused, globally diversified portfolios. Timeline ESG Classic 60 Invested £1,775,000, retumed 4.920/0 (February to March 20251 due to ils 60% equity exposure. particularly in North America (49Q/ol. and primarily due to being hil by lariff-relaled declines. The market drop happened on the 2nd April. Since then this loss has reduced and been clawed back to -2.38Q/.. Timeline ESG Classic 40: Invested £1,775,000, relumed -3.25%, with lower losses due to the lower concentration of equities. Since the year end, this loss has reduced and been clawed back lo -1.170/.. Page 4
CAM International Report of the Trustees for the year ended 31 March 2025 The tariff-induced market drop primarily impacted equity valuations in North America, a koy region for both portfolios. The "60" portfolio's higher equity weighting resulted in greater losses compared lo the "40. portfolio, which benefited from bond stability. These short-term losses lover a two-monlh period) contrast with the portfolios, strong long-term perfomiance, as they are designed to weather market fluctuation5 and deliver growth over extended horizons. While short-temi losses occurred due to market conditions in early 2025, the portfolios have historically outperformed their Morningstar benchmarks over 3, 5. and 10-year periods, reflecting their suilabilily for long-term growth. The investment strategy aligns with CAM International's ESG values and aims to miligale risks through diversification. The board should consider these short-lerm fluclualions in the context of the charity's long-lerm objectives and risk tolerance. FINANCIAL REVIEW Flnanclal posltlon Tho stale of the charity's affairs is consid8r6d to be 5alisfactory. Excluding investment income and legacy gifts, the lolal of other gifts and donations have decreased from the previous year, which reflects the impact of the cost-of-living crisis and other current world issues. Total funds as shown on the balance sheet are now £4,884,431. Of this cash al bank was £124,065 and the market value of the investments was £4,755,006, showing an increase of £4,002,827 which reflects the receipt of a generous legacy gift during this financial year. Reserves policy The trustees recognise that.. (i) the risks assoclaled with working in Alrlca (sickness, civil unrest, elcl could have serious financial repercussions and (li) a falloff In thè level of donations would considerably curtail the charity's activities. To adequately cover these evenlualitl8s and lo provide an emergency buffer to smooth out fluclualions In income, CAM International's Ifustees have agreed to maintain a reserve fund in the region of £500,000 to cover the expected commitments in th6 year. in order lo allow the beneficiaries lo adequately plan for their projects. Following the exceptional legacy received in Ihe year, the level of reserves held by th8 Trustees will exceed their policy, whllsl thèy make decisions on dislribulions. Th8 IrLtsle85 conslder that ils principal asset, the property at 355 Blackpool Road, Preston, has a mark81 value of £150.000. Funds Recelved by the Charlty Th8 charity is almost 10001. dependent on voluntary donations from churches, individuals and other organisations to sustain ils aclivilies, both overseas and in the UK office. All gifts, bequests and other income received have been applied to th8 work of mission8ries and workeTS or to costs associated with running the charity. All restricted funds ar8 used solely for the purposes slated by the donors. Al 31 sl March 2025 funds held by the charity were as set out in note 17 of the financial statements. Reslricled Funds.. 11 should bo noted that a proportion of the funds held by the charity are restricted funds. These represent funds for whlch the donors have stipulated a specific usage. Such funds can only be used in accordance with tho donor's slated purposes and cannot be applied to any other project or activity within the charity. 'Reslricted Funds 'Charitable Aclivilies, represents (i) the running balance of funds received for specific projects and funds expended on those activities.. and {iil funds received up-front for fulure projects. 'Reslricled Funds - Raggall Fund, represents the continuing funds from a large donation received in 1952 primarily lo provide financiallmalerial help for retired, long-lerm missionaries who often experience financial difficulties on retiremenl and for help in exceptional circumslancos for Cuent missionaries and workers. Page 5
CAM International Report of the Trustees for the year ended 31 March 2025 FINANCIAL REVIEW Investment Pollcy The Trustee5 hold the responsibility lo invest the charity's funds for long-tem growth whilst having funds readily available for current or emergency needs. All investments made by the Iruslees are reviewed on a regular basis. The charity has appointed a professional investment management firm lo manage a significant proportion of the charity's inveslmenls, on an advisory basis. The investment manager provides a performance report on a quarterly basis. STRUCTURE, GOVERNANCE AND MANAGEMENT Structure. governance and management CAM Int8rnalional is a Foundation model Charitable Incorporated Organisalion ICIOI registered with the Charity Commission. The charity's activitie5 are regulated by a constitution document ¢Jaled 29 August 2013. The day lo day management of the charity is in the hands of the Administrator, in consultation with the Chair and the 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 it's turn was the successor charity to Congo Evangelistic Mission Ireg. no. 2507791. These changes reflect either political upheavals in Africa (particularly the change of counlry names) or the changing charily Scene In the UK. The Trustees acknowl8dge with thanks. over 100 years of continuous missionary activity in Africa sinc8 It's first missionarias, William FP Burton and James Salter, arrived al Mwanza, Katanga, Belgian Congo on 1 September 1915. CAM International ¢onlinu8s lo maintain th8 s8m8 objectives and aim5 as il's found8rs. Trustees The Trustees of the ¢harlly are., Mr Paul Stephenson (Chairl Rev Andrew Mcmanus Mr Fletcher Kusaloka Mrs Anne Dyer Mr Gordon McKillop (appointed 161041241 Trustees are appointed for a 3-year period and are eligible for reappointmant. The continuing Iruslees appoint charity trustees. All Irusteos give of their time freely and receive no remuneration. Trust88s' meetings are normally held four times a year. At these the trustee5 meet with the Chair and Administrator to consider and review all major activiligs of the charity, make any necessary decisions, and give any necessary instructions lo the Administralor. In between trustee5' meetings the Administrator will consult the trustees by telephone or email when necessary. Trustee training lakes place when needs are identified by the Trustees. Page 6
CAM International Report of the Trustees for the year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Rlsk management During the past year all the mission Policies and Procedures have been updated. All risks were reviewed and no further action has been identifièd. The situation is unstable in some of the areas where CAM International operates, but the trustees and missionaries keep an eye on the situation so that they can respond accordingly. The financial situation of the charity is currently stable. The significant rlsks identified were the risks associated with working in Africa, such as illness and civil unrest, and a falloff in donations. The risks are managed by individual risk assessments for missionaries Iravelling lo Africa, and by maintaining a reserves policy to ensure that the charity can continue if donations did reduca. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iruslees are responslbl8 for preparing the Irus188s' report and Ihe financial statements in accordance with general applicable law and United Kingdom Accounting Standards (United Kingdom General Accepted Accounting Practice). The law applicable to charitie5 in England and Wales requires the trustees lo prepare financial statements for each financial year which give a true and fair vi8w of the slate of affairs of the charity and of the incoming resources and application of resources of thg charity for that period. In preparing these financial slalemenls, the Iruslees are required to.. sel8cl suitable accounting policles and then apply them consistently. observe the methods and principles in the Charities SORP 2015. make judgements and 8slimales that are reasonable and prudent. stat8 wh8lh8r applicable accounting standards have b88n followed, subject to any maleiial departures disclosed and 8xplain8d in the financial slatemenls. prepare the financial statements on the going concern basis unlèss il is Inappropriate to presume that th8 charity will ¢ontinue in business. The Iruslees are responsible for keeping proper accounting records that disclose with reasonable 8ccuracy at any lime the financial position of the charity and enable them to ensure that the financial slalemenls comply with the Charitles Act 2011, the Charities {Accounts and Reports) Regulations 2008, and the provisions of the trust deed. Th8y are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deleclion of fraud and other irregularitles. The Trustees recognlse thelr responsibllity for ensuring that the Chariiy has up-lo-d8te Pollcie5, including Safeguarding, Dats Proleclion, Equal Opportunities, Health and Safety and Investment policies. AUDITORS The auditors, Mcmillan & Co LLP, will be proposed for re-8ppoinlment al the forthcoming Irusl88s meeting. Approved by order of the board of trustees on 26 August 2025 and slgned on Ils behalf by.. P Stephenson - Trustee Page 7
Report of the Independent Auditors to the Trustees of CAM International Oplnlon We have audited the financial slalemenls of CAM International Ith8 'charity'l for the year ended 31 March 2025 which comprise the Statement of Financial Activities. the Balance Sheet. the Cash Flow Statement and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their pr8paration 15 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AGGounling PractiC81. In our opinion the financial stalements.. give a true and fair view of the state of the charity's affairs as 81 31 March 2025 and of Sls IncomSng rèsources and applicalion of r8sources, including ils income and expenditure, for the year then ended., have been properly prepared in accord8nce with Uniled Kingdom Generally Accopted Accounting Practice- and have been prepared in accordance with the requirements ofthe Charities Act 2011. Basls for opinlon W8 conducted our audit in accordance with International Standards on Auditing (UK} (ISAS (UK}l and applicable law. Our responsibilities under those standards are fLtrther described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the elhlcal requirements that are relevant lo our audil of the financial slalemenls in the UK, including the FRC'S Ethical Slandard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence wo have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting In the preparation of the financial slalements is appropriate. Based on the work we have performed. we hav& not identified any material uncertainties relating to events or conditions Ihal. individually or collectively, may casl significant doubl on the charity's ability lo continue a5 a going concern for a period of at least twelv8 months from when the financial slalements are aulhorised for issue. Our responsibilities and the r8sponslblllll8s of the Iruslees wilh resp8cI lo going conc&rn are described in the relevant sections of this report. Other Informatlon The Irusl8es ara responsible for the other informatlon. Th8 Othar Infomation comprisès th8 Information included in the Annual Report, other than the financial statements and our Report of the Indep8nd8nl Auditors Ihereon. Our opinion on the financial sla16ments doe5 not cover Ihe other information and, except lo the ex18nl otherwise explicitly slated in our report, we do not express any form ol assurance conclusion thereon. In connection with our audit of the financial slalements, our responsibility is to read the other information and, in dolng so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge ob18ined in the audit or otherwise appears to be materially misst81ed. If we identify such material inconsistencies or apparent malerial misslatemenls. we are required to delermine whether this gives rise lo a materlal missta18menl in the financial slalernonls Ihemselves. If, based on the work WEI have perfortned, we conclude that there is a material tnisstaletnenl of this other information, we are required lo report that fact. We have nothing lo report in this regard. Page 8
Report of the Independent Auditors to the Trustees of CAM International Matters on which we are requlred to report by exceptlon In the light of the knowledge and understanding ol the charity and ils environment obtained in the course of the audit. we have not identified material misslalements in the Report of the Trustees. We have nothing lo report in respect of the following matters where the Charities IAccount and Reports) Regulations 2008 requires us lo report to you if, in our opinion.. the information given in the Report of the Trustees is inconsistent in any material resp8Ct within the financial statements- or the charity has not kept ad8quate accounting records., or the financial statemenls are not in agreement with the accounting records and returns; or We have not received all of the information and explanations w6 requira for our audit. Responsibilities of trustées As explained more fully in the Statemenl of Trustees, Responsibililies, the Iruslees are responsible for the preparation of tha financial statements and for being satlsfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial slalemenls that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing Ihe charity's abllily lo continue as a going concern, disclosing. as applicable, matters related to going concern and using th8 going concern basis of accounting unless the Iruslees either intend lo liquidat6 the charity or to cease operations, or have no realistic altèrnative but to do so. Our responslbllltles for thè audlt of the flnanclal statem8nts We have been appointed a5 auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and r81evanl regulations made or having 8ffe¢l thereunder. Our oblecliv8s ar8 to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether du8 to fraud or error, and lo issue a Report of the Indepandenl Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misslalemenl whèn it gxisls. Misslalemenls can aris8 from fraud or error and are considered material If. individually or In the aggregate, they could reasonably be expected to influence the economlc d8clslons of users taken on the basis of these financial statements. The extent lo which our procedures are capable of delecllng irregul8rilies, including fraud is delailed below.. Our approach to identifying and assessing the risks of material mis5t8lement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner 8nsured th8t the engagem8nt team collecliv61y had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulaliong.. we identified the laws and regulations applicable lo the charity through discussions with Iruslees and management, and from our knowledge and experience of the sector., we focused on specific laws and regulations which we considered may have a direct material effect on the financial stalemonts or the operations of the charily, including the Charities Act 2011 and the Charities SORP, taxation legislation and data protection. anli-bribery. employment, environmental and health and safely legi51alion, particularly in relation to the safe-gLJarding of young persons., we assessed the exlenl of compliance with the laws and regulations identified above through making enquiries of trustees and management and inspecting legal correspondence,, and identified laws and regulations were communicated within the audit team regularly and the team remained alert lo instances of non-compliance throughout the audit. Page 9
Report of the Independent Auditors to the Trustees of CAM International We assessed the susceptibility of the charity's financial statements to material misstatement, includlng obtaining an understanding of how fraud might occur, by: making enquiries of trustees and managemenl as lo whare they considered there was susceptibility to fraud. their knowledge of actual, suspected and alleged fraud,. and considering ihe internal controls in place lo mitigate risks of fraud and non-compliance with laws and regulallons. To addr8$5 the risk of fraud through management bias and override of controls, w6.. performed analyiical procedures lo identify any unusual or unexpected relationships., tested journal entries lo identify unusual transactions, In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, bul w8re not limited to,. agreeing financlal slalement disclosures to underlying supporting documentation., réading the minutes of meetings of those charged with governance., 8nquiring of trustees and man8gement as to actual and potential liligalion and claims; and reviewing correspondence with Local Government bodies, HMRC, relevant regulators including the Health and Safety Executive, and the charity's legal advSsors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions. the less likely il is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required lo Idgntify non-compliance with laws and regulallons to enquiry of the Irusteos and other management and the inspection of regulatory and legal correspondence, if any. A further description of our r8sponslbllltles for the audit of the financlal statements is located on th8 Flnancial Reporting Council's websit8 al www.fr¢.org.uklaudilorsresponsibililies. Thls descriptlon forms part of our Report of the Indapendent Auditors. Use of our rèport This report is made solely to the charity's trustees, as 8 body, in accordance with Part 4 of thè Charitiés (Accounts and Reports) Regulation5 2008. Our audit work has been underiaken so that w8 might slate lo the charity's trustees those matters we are required lo slate to them in an auditors, report and for no other purpose. To the fullest exlent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. A- q Andrea Gerring FCA (Senior Statutory Audilorl for and on behalf of Mcmillan & Co LLP Chartered Accountants and Slalulory Auditor 28 Eaton Avenue Matrix Office Park Buckshaw Village Chorley Lancashire PR7 7NA Dat8- Page 10
CAM International Statement of Financial Actlvltles for the year ended 31 March 2025 2025 Total funds 2024 Total funds Unrestficled funds Re5triclgd funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 4,077.744 585,504 4,663,248 368,078 Other tradlng activities Investment income 1,505 1,505 4,036 1.366 1,619 Total 4 083 285 585 504 4 668 789 371,063 EXPENDITURE ON Raising funds 12,728 12,728 12.653 Charltable activStles Missionery Field expenses UK Ministry Fund expenses UK personal funds Raggalt fund Management and administration 162,755 1,773 18,571 12,460 162,755 1,773 18,571 12,460 156 855 263,522 2,239 40,645 14,359 225.228 156855 Total 169,583 195,559 365 142 558,646 N81 gainslllosses) on Investm8nts 259 1141 259 1141 91,970 NET INCOMEI{EXPENDITURE) Transfers between funds 3,654,588 389,945 4,044,533 195,613) 17 Net movement In funds 3,644,896 399,637 4,044,533 195,613) RECONCILIATION OF FUNDS Total funds brou9hl foNard 258,182 581,716 839,898 935,511 TOTAL FUNDS CARRIED FORWARD 3 903 078 981 353 4 884 431 839,898 The notes fomi part ofthese financial statements Page11
CAM International Balance Sheet 31 March 2025 2025 Total fund8 2024 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets Investrnenls 12 2,240 13 3,773,653 2,240 4,755,006 2,649 752,179 981,353 3,775,893 981,353 4,757,246 754,828 CURRENT ASSETS D8blors Prepayments and accrued incom8 Cash at bank and in hand 14 9,283 2,572 124 065 9,283 2.572 124,065 7,070 2,542 79,071 15 135,920 135,920 88,683 CREDITORS Amounts falling due within one year 16 18,735) 18,735) 13,613) NET CURRENT ASSETS 127 185 127 185 85,070 TOTAL ASSETS LESS CURRENT LIABILITIES 3,903,078 981,353 4,884,431 839,898 NET ASSETS 3 903 078 981353 4 884 431 839 898 FUNDS Unreslricled fLtnds Reslricled funds 17 3.903,078 981.353 258,182 581.716 TOTAL FUNDS 4 884,431 839,898 The financial statements were approved by the Board of Trustees and 8ulhorised for issue on 26 August 2025 and were signed on ils behalf by.. P Sleph&nson - Trustee The notes fom part of these financial statements Page 12
CAM International Cash Flow Statement for the year ended 31 March 2025 2025 2024 Notes Cash flows from operatlng actlvltlos Cash generated from operations 4 302 899 180,202) Nel cash provided byllused in) operating activities 4 302,899 180,2021 Cash flows from investing activilies Purchase of tangible fixed assets Purchase of fixed asset inveslrnents Withdrawals and charges on investments Interest received 11,1411 (4,291,016) 29,075 4.036 139,208 1,819 Nel cash (used in}Iprovided by investing activities 4 257 905) 139,686 Change In cash and cash equlvalents In the reportlng perlod Cash and cash equlvalent8 at the beginnlng of the reportlng perlod 44,994 (40,516) 119,587 Cash and cash equlvalents at the end of the reportlng perlod 124 065 79,071 The notes fomi part of these financial statements Page 13
CAM International Notes to the Cash Flow Statement for the year ended 31 March 2025 RECONCILIATION OF NET INCOMEI(EXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Not Incomellexpendlturel for the reportlng perlod las per Ihe Statement of Flnanclal Actlvlties) Adjustments for: Depreciation charg8S Lossesllgain) on investments Interest rec8ived Ilncreaselldecrease in debtors Increase in creditors 4,044,533 (95,613) 409 259,114 14,0361 {2,2431 218 {91,970} {1,619} 7,919 863 Net cash provlded byl{usèd In) operatlons 4 302,899 180,2021 ANALYSIS OF CHANGES IN NEf FUNDS At 114124 Cash flow At 3113125 Net cash Cash at bank and in hand 124,065 124,065 Total 124 065 The noles form part of these financial statements Page 14
CAM International Notes to the Flnancial Statements for the year ended 31 March 2025 ACCOUNTING POLICIES Basls of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance with tho Charilies SORP (FRS 1021 'Accounting and Reporting by Charities.. Statement of Recomrnended Practice applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in th8 UK and Republic of Ireland IFRS 102} (effective 1 January 2019}', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. The financial slalements have been prepared Ljnder the historical cost convention, with the exception of investments which are included al market value, as modified by the revaluation of certain assels. In preparing the financial statements, there are no material uncartainties about the Charity's 8billly to continue as a going concern and they are presented using the Pound Sleding 1£) and the amounts in tho financial statements have been rounded to the nearest £1. Comparable amounts The financial slalements to 31 March 2024 presented the fund balances within creditors. These amounts have been presènted as comparaliv6S to the funds in the year. There are no changes lo the 8mounls. Income All income is rècognised in thè Statemènt of Financial Aclivill@s once the ch8rily has enlit18m8nl to the funds, il is probable that the income will be received and the amount can be measured r81iably. Exp8ndSture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commilling the charity lo that expenditure, il is probable that a transfer of economic benefits will bo required in settlement and the amount of the obligation can be measured reliably. Expenditure Is accounted for on an accruals basis and has been classified under headings that aggregate all cost relal8d lo the category. Where costs cannot be directly allributed to particular headings they have been allocated to aclivilles on a basis consistent with the use of resources. Tanglble flxed assets Deprecialion is provid8d al Ihe following annual rates in order to write off each asset over its estimated useful life. Plant and machinery 150/0 on reducing balance Freehold property is not depreciated TaxatSon The charily is exempt from corporation tax on its charilable aclivilies. Fund accountlng Unreslricled funds can be used In accordance with the charilable objectives at the dlscretion of the trustee5. Restricted funds can only be used for particular restricted purposes within the objects of the charily. Restrictions arise when specified by the donor or when funds are raised for p8rti¢ular reslficled purposes. Further explanation of the nature and purpose of each fund is included in the notes lo the financial slalemenls. Pension costs and othor post-retlrement benefits The charity operates a defined contribution pension scheme. Contributions payable lo Ihe charity's pension scheme are charged to the Slalement of Financial Aclivilies in the period to which Ihoy relate. Page 15 continued...
CAM International Notes to the Financial Statements - continued for the year ended 31 March 2025 ACCOUNTING POLICIES - contlnued Invostmenls 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 Ihe fund accounts on behalf of which the investments are held. Reallsed galns and losses All gains and losses are taken lo the Statement of Financial Activities as they arise. Realised gains 8nd losses on investments are calculated as the diff8rence between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of Ihe financial year. Unrealis8d gains and losses are calculated as Ihe differ6nce betW8en the fair valu8 al the year end and their carrying value. Realisad and unrealised investment gains and losses are combined in th8 Statement of Financial Activities. Flnanclal Instrumont8 Financial instruments are classified and accounted for according to the substance of the conlraclual arrangement as financial assets, financial liabilities or equity inslrumenls. An equity instrument is any contract that evidences a residual inlerast In the asse15 of the charity after deductlng all of ils liabilities, DONATIONS AND LEGACIES 2025 Total funds 2024 Total funds Unrestricted funds Reslricled funds Gifts and donations Legacies 36,952 4 040 792 185.504 400 000 222,458 4 440 792 310,910 57,168 4 077 744 585 504 4 663,248 368,078 OTHER TRADING ACTIVITIES 2025 Total funds 2024 Total funds Unrestricted funds Re51rlcled funds Magazine incom8 INVESTMENT INCOME 2025 Total funds 2024 Total funds Unrestricted funds Reslricled funds Deposit account interest Current assat investment income 857 857 1,619 1,619 Page 16 continued...
CAM International Notes to the Flnancial Statements - continued for the year ended 31 March 2025 RAISING FUNDS other tradlng actlviti08 2025 Total funds 2024 Total funds Unreslricled funds Restricted funds Purchases 12,728 12,728 12,653 CHARITABLE ACTIVITIES COSTS Support costs (see note 71 Direct Costs Totals Missionery Field expenses UK Ministry Fund 6xponses UK pèrsonal funds Raggall fund Management and adminislralion 162.755 1.773 18,571 12,460 148 293 162,755 1,773 18,571 12,460 156 855 8,562 352,414 SUPPORT COSTS Governance costs Management and administration NET INCOMEI{EXPENDITURE) Net incomellexpendilurel is stated after chargingl{crediting)'. 2025 2024 Auditors, remuneration Auditors, r8rnuneration for non audit work Depreciation owned asse15 6,000 2,562 409 1,794 218 TRUSTEES, REMUNERATION AND BENEFITS There were no Iruslees, remuneration or other benefits for the year ènded 31 March 2025 nor for tha y6ar ended 31 March 2024. Page 17 continued...
CAM International Notes to the Flnancial Statements - continued for the year ended 31 March 2025 TRUSTEES, REMUNERATION AND BENEFITS - contlnued Trustees. oxpenso8 There were Iruslees, expenses paid for the year ended 31 March 2025 of £1,399 (2024 - £nill 10. STAFF COSTS 2025 2024 Wage5 and salaries Social security costs Oth9r pension costs 36,555 6,021 47,756 7,772 1,591 43,994 57.119 The average monthly number of employees during the year was as follows.. 2025 2024 Adminislralion No employees rec8ivèd amolumenls in excess of£60.000. RECOGNISED REALISED AND UNREALISED GAINS OR LOSSES The realised and unreallsed galns or losses Included in the financial statements are as follows; 2025 2024 Realised gainslllossesl Inv6slm&nt properties List8d investments 259114 52,921 259,114} 52,921 Unrealiséd gainslllossesl Inveslmenl properties Listed investments Total gainsl{losses) 259 1141 Page 18 continued...
CAM International Notes to the Financial Statements - continued for the year ended 31 March 2025 12. TANGIBLE FIXED ASSETS Freehold propety Plant and machinery Totals COST At 1 April 2024 and 31 March 2025 4,665 DEPRECIATION Al 1 April 2024 Charge for year 3,516 409 3,516 409 At 31 March 2025 3,925 NET BOOK VALUE At 31 March 2025 740 2.240 At 31 March 2024 1,500 2,649 13. FIXED ASSET INVESTMENTS 2025 2024 Shares Cash funds held by inveslm8nl manager 4,259,469 495,537 731,038 21,141 4 755 006 752,179 Additional information as follows.. Llsled investments MARKET VALUE At 1 April 2024 Additions Withdrawals Revaluatlons 731.038 3,816,620 129,0751 259 114) At 31 March 2025 4 259 469 NET BOOK VALUE Al 31 March 2025 4 259 469 Al 31 March 2024 731,038 The listed investments are analysed over the page.. Page 19 continued...
CAM International Notes to the Financial Statements - continued for the year ended 31 March 2025 13. FIXED ASSET INVESTMENTS - contlnued Classlc 40 Investment 2025 North America Europe Emerging Markets United Kingdom Pacific Other 43°/0 16°/0 120/0 18°/0 £1,178,919 £438,667 £329,001 £493,501 £246,750 £54,833 Total 100°/ £2,741,671 Classlc 60 Investment 2025 North America Europe Emerging Markels United Kingdom Pacific Other £986,534 £281,867 £261,734 £261,734 £181,200 £40,267 130/. 13./0 9/0 2/0 Total 100tsA £2,013,335 Investments (neither listed nor unlisted) wère as follows: 2025 2024 Cash funds held by invèstment manag8r 495,537 21,141 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other debtors 7,070 Page 20 continued..
CAM International Notes to the Financial Statements - contlnued for the year ended 31 March 2025 15. CASH AT BANK AND IN HAND 2025 Total funds 2024 Total funds Current account Bank deposit 601 123,464 1,299 77,772 Total 124 065 79,071 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Olh8r credilors Accfuals and deferred income 107 8,628 224 3,389 3,613 17. MOVEMENT IN FUNDS Not movement in funds Transfers b8tween funds At 114124 At 3113125 Unrestrlcted funds Trustees, reserves Legacies New fields, funds Candidates, funds Lileralur8 & Press account Plane Fund Christmas fund Directors allocation fund Africa fund Africa travel fund Training and monitoring Partnerships loo,000 {329,282) 3,980,673 329,282 {338,9741 100,000 3,641,699 2,779 5,327 8,578 132,325 2,779 5,327 8,578 132,325 52 2,000 (1,675) 4,546 1,749 2,501 (50) 2,000 1,675 2,313 (41) 6,859 1,708 258,182 3,654,588 19,692) 3,903,078 Restrlcted funds Raggall Fund Missionary field accounts Missionary UK personal funds UK Ministry funds 301,432 275,078 2,111 (12,460) 403,595 (497) 9,692 298,664 678,673 1,614 2,402 581716 389,945 9,692 981353 TOTAL FUNDS 839,898 4 044 533 4 884 431 Page 21 continued...
CAM International Notes to the Financial Statements - continued for the year ended 31 March 2025 17. MOVEMENT IN FUNDS - contlnued Net movement in funds, included in the above are as follows= Incoming resources Resources expended Gains and losses Movement in fund5 Unrestrlcted funds Trustees, reserves Legacies Christmas fund Africa fund Africa Iravel fund Training and monitoring Partnerships 25,664 4,040,791 2,155 1,675 7,500 {95,832) (259,114) 1329,2821 (60.118) 3,980,673 12,205) (501 1,675 2,313 (411 {5.187 141) 4,083,285 (169,583) 1259,114) 3,654,588 Restrlct8d funds Raggall Fund Missionary field accounls Missionary UK personal funds UK Ministry funds {12,460) 1162,755) {18,571) 112,4601 403,595 14971 6931 566,350 18.074 585 504 195 559) 389.945 TOTAL FUNDS 4 044 533 Page 22 conlinued...
CAM International Notes to the Financlal Statements - continued for the year ended 31 March 2025 17. MOVEMENT IN FUNDS - continued Comparatives for movement In funds Net movement in funds Al 114123 Al 3113124 Unrestrlcted funds General fund Trustees, reserves Ltsgacies Naw fields. funds Candidates, funds Literature & press account Plane Fund Christmas fund Directors allocation fund Africa fund Africa travel fund Training and monitoring Partnerships 237,881 58,442 157,1681 2,779 5.327 8.578 132,325 12,5101 2.000 16,675) 116,9041 {5011 1237,8811 41,558 57,168 100,000 2,779 5,327 8,578 132,325 52 2,000 11,6751 4,546 1,749 2,562 5,000 21,450 2,250 7,500 358,575 1100,393) 258,182 Restrlcted funds Raggatl Fund Missionary field accounts Missionary UK personal funds UK Ministry funds 257,621 297,385 15,647 6,283 4,780 262,401 297,385 17,241 4,689 1,594 576 936 4.780 581716 TOTAL FUNDS 935,511 95,6131 839,898 Page 23 continued...
CAM International Notes to the Flnanclal Statements - continued for the year ended 31 March 2025 17. MOVEMENT IN FUNDS - contlnuad Comparative net movement in funds, included in Ihe above are as follows: Incoming resources Resources expended Gains and losses Movement in fLJnds Unrestrlcted funds General fund Trustees, reserves Legacies Chrislmas fund Africa fund Africa travel fund Training and monitoring Partnerships 1237.881) 1237,881) 41,558 57,168 2,562 5,000 21.450 2,250 7,620 57,168 2,562 5,000 21,450 2,250 33.938 103,550 {237,881 } 33,938 1100,393) Restrlcted funds Raggall Fund Missionary field accounts Missionary UK person81 fund5 UK Ministry funds 156 241,196 25,516 645 114.3591 {263,5221 140,6451 2,239) 18,983 22,326 16,723 4,780 1,594 267,513 320.765 58,032 4,780 TOTAL FUNDS 371,063 558,646) 91,970 95.613) The material funds of the charity are as follows: Restrlcted funds Raggalt Fund - this is a fund maintained lo provide for retired missionaries and workars. who often experience financial difficullies. It can also be used for current missionaries and workers on an exceptional basis. Missionary Fleld 8ccounls thls fund Is for the d8y lo day projects of the missionaries delivering the ch8rilies objectives overseas. Unrestrlcted deslgnated funds Plane fund this fund is designated for travel by workers and missionaries. 18. RELATED PARTY DISCLOSURES Thero were no related party Iransaclions for the year ended 31 March 2025, nor for the year ended 31 March 2024. Page 24
CAM International Detailed Statement of Flnanclal Actlvltles for the year ended 31 March 2025 2025 Total funds 2024 Tolal funds Unrestricted funds Rèstricted funds INCOME AND ENDOWMENTS Donations and legaclès Gifts and donations Legacies 36,952 4 040 792 185,504 400,000 222,456 4,440,792 310,910 57,168 4,077,744 585,504 4,663,248 368,078 Other tradlng actlvltle8 Magazine inGome 1,505 1,505 1,366 Investment Incom8 Deposit account interest Current asset investment income 857 857 3,179 1,619 4,036 1.619 Total incomlng r650urces 4,083,285 585,504 4,668,789 371,063 EXPENDITURE Other tradlng actlvltles Cost of sale5 Conta¢l Magazine 12,728 12,728 12,653 Charltable actlvltles Wages Social security Pènsions Overseas mlssionary fleld activities Expenses Donations Rates and water Insurance Light and heal Telephone Postage and stationery Sundries Office travel Missionary insurance Subscriptions Property repairs Publicity Professional fees Trustee expénses Bank charges Investment charges Carried forward 36,555 6,021 1,418 36,555 6,021 1,418 162,753 1,773 104,784 2,227 1,445 2,226 2,056 1414) 292 1,869 2.084 4,431 95 47,756 7,772 1,591 263,522 2.548 196.485 351 1,212 3,983 2,973 1,131 119 2,302 2,583 2,639 329 727 504 162,753 1,773 31,033 73,751 2,227 1,445 2,226 2,056 1414) 292 1,869 2,084 4,431 95 1,399 233 12.196 147,884 1,399 233 12,196 343,443 360 5,094 543,981 195,559 This page does not form part of the statutory financial statements Page 25
CAM International Detalled Statement of Financial Activities for the yoar ended 31 March 2025 2025 Total funds 2024 Total funds Unreslricted funds Restricted funds Charltable actlvltles Brought foNard Computer equipment 147,884 409 195,559 343,443 409 543,981 218 148,293 195,559 343,852 544,199 Support costs Governance c08ts Auditors. remuneration Auditors. remuneration for non audit work 6,000 6,000 1,794 1,794 Total resources expended 169 583 195 559 365 142 558 646 Net (expendlture)Ilncome before galns and los8e8 3,913,702 389,945 4,303,647 1187.583) Reallsed recognlged galns and losses Realised gainslllossesl on fixed asset investments Realised gainsl(losses) on programme r81ated Investments (259,114) (259,114> 52,921 39,049 Net (expendlture)Ilncome 3 654 588 389 945