## Greater Europe Mission UK
Report and Accounts Year ended 30 June 2024
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **GREATER EUROPE MISSION UK**
## **CHARITY INFORMATION**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **Trustees**
John Rhodes Stephen Bloomer (resigned December 2023) Thad McAuley (resigned March 2024) Jon Burns Jeremy Dearing Dani Keith (appointed October 2023) Rachelle Neal (appointed October 2023)
## **Key Staff**
Jeremy Dearing (CEO)
## **Governing Document**
CIO Constitution dated 14 May 2015
**Charity Registration Number** 1162468 **Principal Address** 252-260 Broad Street Birmingham B1 2HF **Independent Examiner** Sarah Crispin (ACA) Stewardship 1 Lamb's Passage London EC1Y 8AB
**Bankers** Lloyds Bank
|**Contents**|**Page**|
|---|---|
|Charity Information|1|
|Trustees' Annual Report|2-5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Cashflow Statement|9|
|Notes to the Accounts|10-16|
|Detailed Statement of Financial Activities with Comparatives|17|
Page 1
## **GREATER EUROPE MISSION UK**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 30 JUNE 2024**
The trustees have pleasure in submitting the Report and Accounts for the year.
## **Objects of the charity**
The charity is a CIO (Charitable Incorporated Organisation) and is governed by its Constitution. The objects of the charity, as set out in the governing document are the advancement of the Christian faith in the United Kingdom and throughout the world, in accordance with the Statement of Faith, mainly but not exclusively by means of:
i) broadcasting messages of an Evangelical Christian nature
ii) public celebration of Christian festivals
iii) Training and equipping our members to be "disciples who make disciples"
iv) Planting new churches and Christian outreach activities v) Producing and / or distributing literature dealing with the Christian faith vi) The holding of prayer meetings
## **Summary of the charity's main activities and achievements**
Following on from a year of what could perhaps be described as one of consolidation and review, the Board were sensing a healthy feeling of community and togetherness across GEM UK as we found ourselves in what seemed to be a season of transition. People were stepping into new roles and at the same time we began to transition away from individual missionaries or couples working in partnership with a local church, and towards groups of missionaries working together in teams or “hubs,” with 6 geographical teams now in place, and 4 more under development. Although the field was relatively stable, we did experience some missionaries leaving the field as well as joining, although as an expansion of our geographical influence, we saw a missionary couple deployed in Romania to add to our current representation in England, Scotland, Ireland, Wales, France and Hungary.
An expansion of the Leadership team was approved by the Board as part of the 2024/25 Budget review process. This came in the form of 2 new staff posts, a Director of Ministry Development and a Director of Mobilisation which were successfully filled with the new appointees taking up their posts at the beginning of September 2024. These are both strategic roles intended to grow the scope and impact of GEM UK’s ministry internally and in conjunction with other similarly minded Christian bodies. There was no impact of these appointments in the 2023/24 financial year, apart from £2k of recruitment costs for the advertising of the new posts.
One of the charity’s main objectives for the year was also to implement “a standard of operational excellence throughout GEM UK”. This has led to a substantial review of our policies and procedures, with many of those being redrafted and expanded. Although both instances occurred out with the financial year in question, in August 2024 the Charities Commission opened a case regarding GEM UK following a complaint from a former field worker but seemed to be reassured by our response, before closing the case with no further action apart from recommending improvements to some of our policy documents requested, which we rectified by the next Board Meeting. Then in December 2024, we were subject to a Home Office audit regarding our process for sponsoring foreign workers, which resulted in us receiving an “A” rating. The Board are reassured by both of these outcomes, believing that they reflect the ongoing hard work in the pursuit of operational excellence.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission
Page 2
## **GREATER EUROPE MISSION UK**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **Volunteers**
The charity operates without volunteers in the usual sense deployed by churches and other Christian charities as its activities are performed by its missionaries who are supported by GEM UK leadership and staff.
## **Structure, Governance and Management**
Responsibility for setting policy and for determining the parameters within which the charity should operate rests with the Board of Trustees who meet regularly to monitor the activities of the charity. Responsibility for the day-to-day operation of the charity has been delegated to Rev. Jeremy Dearing supported by an extended management team. Delegated operational responsibilities are clearly defined and regular meetings between Senior Staff, field workers and Jeremy Dearing keep this on track, while the annual agreed financial Budget is similarly an important aspect of financial controls. Pay-related matters for Senior Leadership are discussed in their absence at a Board Meeting, or by e-mail if changes to pay needs to be discussed outside a scheduled Board Meeting. The current trustees are always on the lookout for those with the potential to be added to the trustee team, especially those who would reduce the average age and / or increase the Board's range of diversity. A number of potential new trustees are discussed at each Board Meeting, but often these individuals are understood to be in demand for other similar positions within the Christian community. Prospective candidates would be invited to meet with a selection of Senior Board Members, or to attend a Board Meeting, and if the candidate shows the appropriate aptitude, cultural fit and is willing to be considered for the role, then the Trustees present would look to ensure that the potential appointment of this person as a new Trustee was unanimous. Any new Trustee would be given a copy of the constitution, recent minutes and a copy of the Budget as part of their induction / training. We have also developed a comprehensive “Trustee Onboarding Handbook” to facilitate the induction of any new trustees, including the history of GEM UK, charity strategy, trustee job description, list of current policies and outline calendar.
## **Financial review**
During the year overall income reduced slightly to £532k, while expenditure increased to £519k resulting in an overall surplus of £13k, compared to a surplus of £77k in the previous year. However, this overall surplus arose due to a £25k surplus in restricted funds, relating to funds received for the support of GEM field workers. The trustees’ main focus was the level of unrestricted funds which had an overall deficit of £(12)k, although the trustees were satisfied with this as it was in line with the predictions for the year, and supportable due to the level of unrestricted reserves which ended the year at £99k.
GEM UK’s unrestricted income for the year of £258k was £32k lower than the previous year, largely due to a further planned step reduction in financial support from GEM International as well as reduced training related income and partnership fees. Arrivals of new field workers were not as high as anticipated leading to lower training income, while the decrease in partnership fees was a result of a strategic decision to move away from missionaries being placed in a partnership with a local church and towards a more team-based approach, with missionaries supporting each other within a geographical context.
Page 3
## **GREATER EUROPE MISSION UK**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 30 JUNE 2024**
Expenditure from unrestricted funds during the year was £273k, an increase of £47k over the previous year, due to staff cost increases and consultancy costs related to the ongoing development of the ministry of GEM UK. There was also a £12k increase in costs for Field Gatherings, an annual event dedicated to honouring and envisioning our missionaries over a weekend at an appropriate Conference Centre, with earlier than expected deposits for future events required in order to secure suitable venues. Additional costs were also incurred in Leadership coaching / development, while there were some smaller savings due to the lower levels of training delivered, due to the lower than anticipated arrivals in the field.
## **Investments**
The charity currently only operates with bank accounts, although a new 32-day notice deposit account was opened with Lloyds during the financial year in order to earn some interest by taking advantage of some of the reserves that GEM UK may carry during parts of the financial year.
## **Fundraising**
The Board of Trustees have previously recognised the need to explore external funding opportunities in order to provide additional finance for the planned expansion of GEM UK’s activities. The charity engaged the services of a Christian fund-raising consultant in order to provide training and coaching in the development of a fundraising strategy and are also pursuing the development of a “major donors” strategy although the Board are aware that these key strategies are still in their infancy.
## **Pension liabilities**
GEM UK use the Nest Pension scheme for contributions for all qualifying employees and are currently paying a higher level of employer contributions for staff than the government minimum levels.
## **Funds in deficit**
There are no funds in deficit as at the end of the 2023/24 financial year.
## **Reserves policy**
The trustees have previously determined that the charity should aim to hold unrestricted cash equating to about 3 months' unrestricted expenditure so that the charity could continue to operate should income and / or expenditure vary adversely. The trustees evaluate this to be £60k (again a small increase over the previous year's provision due to the progressive increases in the charity’s cost base). In order to increase the likelihood of complying with our Reserves Policy in the future, the Board agreed at the June 2024 meeting that in future they considered it appropriate for the balance in the 32-day account be included within the calculation of “unrestricted cash”.
## **Going concern**
Having approved the recent increase in staff positions relating to the Leadership Team, the Board of Trustees are aware of the impact of this on the charity’s cost base. Given the context of the charity’s accumulated reserves, the congoing commitment of GEM International to provide a contribution toward our operating overheads over the next 4 - 5 years, and the developing fundraising strategies, the Board remain satisfied that we will have the necessary financial resources to meet all our existing obligations for the medium term, although they recognise that more difficult decisions would have to be taken, should the regular reviews of the charity’s finances begin to suggest otherwise.
Page 4
## **GREATER EUROPE MISSION UK**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **Key risks and uncertainties**
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks and identified a selection of key charity policies to be updated and expanded as part of this ongoing process.
## **Plans for the future**
This increase is the staff Leadership team is part of an ongoing desire by GEM UK to review its vision and values and increase leadership capacity to deliver on these to ensure that it fulfils the calling and purpose for which we believe it was formed. This recruitment has been made in the belief that in due course it will be sustained through our developing funding strategy. There is still an objective that GEM UK will become self-funding in the next 5 years or so, and so the fund-raising plan mentioned above is a key part of finding replacement sources of income to achieve this.
From September to December 2024, the Leadership Team met regularly with an external consultant, with considerable experience in with other Christian churches and agencies, to help us move forward with a review of our structure, vision and values.
## **Responsibilities of trustees under charity law**
The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP;
3. make judgements and estimates that are reasonable and prudent;
4. state whether the applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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 and the Charity (Accounts and Reports) Regulations 2008. 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.
## **Approval**
This report was approved by the trustees and signed on their behalf by:
## John Rhodes
_____________________________________ John Rhodes (Apr 10, 2025 10:02 GMT+1) JOHN RHODES
Apr 10, 2025 Date: _________________________
Page 5
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **GREATER EUROPE MISSION UK ('the Charity')**
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 30 June 2024 on pages 7 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 10 to 11.
## **Responsibilities and basis of report**
As the charity’s trustees of the Charitable Incorporated Organisation 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 gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
Sarah Crispin Sarah Crispin (Apr 23, 2025 11:40 GMT+1)
Sarah Crispin (ACA) Institute of Chartered Accountants in England and Wales
Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: Apr 23, 2025
Page 6
## **GREATER EUROPE MISSION UK**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 30 JUNE 2024**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Interest income
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
5
Raising funds
6
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
13
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
13|Unrestricted
Funds
£
231,895
22,346
3,358
257,598
271,990
790
272,780
(15,182)
3,386
(11,796)
110,527
98,731|Restricted
Funds
£
273,965
-
-
273,965
245,894
-
245,894
28,071
(3,386)
24,685
30,009
54,694|Total
Funds
2024
£
505,860
22,346
3,358
531,564
517,885
790
518,675
12,889
-
12,889
140,536
153,425|Total
Funds
2023
£
486,955
55,220
714|
|---|---|---|---|---|
|||||542,890|
|||||465,703
-|
|||||465,703|
||||||
|||||77,186
-|
|||||77,186
63,349|
|||||140,535|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The notes on page 10-16 form part of these accounts.
Page 7
## **GREATER EUROPE MISSION UK**
## **BALANCE SHEET**
## **AS AT 30 JUNE 2024**
|Note
**FIXED ASSETS**
Social investments
8
**CURRENT ASSETS**
Debtors
9
Cash at bank and in hand
10
**CREDITORS: Amounts falling**
**due within one year**
11
**Net current assets / (liabilities)**
**Total assets less current liabilities**
**TOTAL NET ASSETS**
**FUND BALANCES**
13
Unrestricted Funds
General funds
Designated funds
Restricted Funds|Unrestricted
Funds
£
-
-
10
111,106
111,116
(12,385)
98,731
98,731
98,731
59,159
39,572
98,731
-
98,731|Restricted
Funds
£
-
-
-
54,694
54,694
-
54,694
54,694
54,694
-
-
-
54,694
54,694|Total
Funds
2024
£
-
-
10
165,800
165,810
(12,385)
153,425
153,425
153,425
59,159
39,572
98,731
54,694
153,425|Total
Funds
2023
£
6,417|
|---|---|---|---|---|
|||||6,417|
|||||-
140,687|
|||||140,687
(6,569)|
|||||134,119|
||||||
|||||140,536|
|||||140,536|
|||||73,858
36,669|
|||||110,527
30,009|
|||||140,536|
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
John Rhodes John Rhodes (Apr 10, 2025 10:02 GMT+1) --------------------------------------JOHN RHODES
Apr 10, 2025 Date: ___________________
Charity number: 1162468
The notes on page 10-16 form part of these accounts.
Page 8
## **GREATER EUROPE MISSION UK**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **CASH FLOW STATEMENT**
|**Cash flows from operating activities:**
**_Net cash provided by/(used in) operating activities_**
**Cash flows from investing activities:**
Concessionary loans (made) / repaid
**_Net cash provided by/(used in) investing activities_**
**Cash flows from financing activities:**
**_Net cash provided by/(used in) financing activities_**
**Analysis of changes in net debt:**
Cash
Total net funds / (debt)
**Cash and equivalents at the beginning of the year**
**_Cash and cash equivalents at the end of the year_**
**_Change in cash and equivalents in the reporting period_**|Note
a
b
b
At start of
year
£
140,687
140,687|2024
£
18,696
6,417
6,417
-
25,113
140,687
165,800
Cash-flows
£
25,113
25,113|2023
£
81,853|
|---|---|---|---|
||||(6,417)|
||||(6,417)|
|||||
||||-|
|||||
||||75,436
65,251|
||||140,687|
||||At end of
year
£
165,800|
||||165,800|
## **NOTES TO THE CASH FLOW STATEMENT**
## **Note a: Reconciliation of net income/(expenditure) to net cash flow from operating activities**
|**Adjustments for:**
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**_Net cash provided by (used in) operating activities_**
**Note b: Analysis of cash and cash equivalents**
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
**Total cash and cash equivalents**
**_Net income/(expenditure) for the reporting period (as per the statement of financial_**
**_activities)_**|2024
£
12,889
(10)
5,817
18,696
2024
£
114,549
51,251
165,800|2023
£
77,186
1,217
3,449|
|---|---|---|
|||81,853|
|||2023
£
140,687
-|
|||140,687|
Page 9
## **GREATER EUROPE MISSION UK**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **1 Statutory Information**
The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.
The principles adopted in the preparation of the financial statements are set out below.
## a) Going concern
The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
## Income from donations includes:
Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
Income from charitable activities represents income receivable from services supplied in furtherance of the charity's charitable objects. It includes income from obtaining visas, providing training and managing financial support for missionaries.
## c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The Charities SORP requires charities with income over £500,000 to allocate costs to the various activities undertaken by the charity. The nature of the work of the charity is considered to be so integrated that the core charitable activity costs are considered to be for the one activity.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
Page 10
## **GREATER EUROPE MISSION UK**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **2 Accounting Policies (cont.)**
## d) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.
## e) Pension scheme arrangements
The charity complies with its pension scheme obligations by auto-enrolling all of its eligible employees into the Nest Pension Scheme. Obligations for contributions to this scheme are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
## f) Taxation
- The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## g) Financial instruments
The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
## h) Critical accounting estimates and areas of judgement
The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
## **3 Donations**
|Donations of cash and similar
Support from GEM International
Income tax recoverable
**4**
**Income from charitable activities**
Visa fees
Training
Partnerships
**5**
**Charitable expenditure**
**a**
**Costs incurred directly on specific activities**
Staff costs - support
Staff costs - mission partners
Mission partner support
Missionary Support Costs
General
Consulting fees
Training
Field retreat / conference
Visas
Missional Activity Costs
General
Consulting fees|2024
£
342,972
152,485
10,403
505,860
2024
£
2,049
11,072
9,225
22,346
2024
£
94,420
91,511
140,450
39,922
31,911
11,904
47,401
9,991
12,849
32,064
512,423|2023
£
308,959
165,766
12,230|
|---|---|---|
|||486,955|
|||2023
£
1,920
25,223
28,077|
|||55,220|
|||2023
£
71,184
86,066
140,363
37,124
24,532
16,389
31,636
9,730
11,335
32,028|
|||460,386|
Page 11
## **GREATER EUROPE MISSION UK**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **5 Charitable expenditure (cont.)**
## **b Costs incurred on support & administration**
|Governance costs
Independent examiner's fee
Other
**Total expenditure**|3,480
1,982
5,462
517,885|3,360
1,957|
|---|---|---|
|||5,317|
|||465,703|
The fee payable to the independent examiner for preparing and examining the accounts was £3,480 (2023: £3,360).
## **6 Cost of raising funds**
|**of raising funds**|||
|---|---|---|
|Professional fundraiser costs|2024
£
790
790|2023
£
-|
|||-|
## **7 Analysis of staff costs, the cost of key management personnel and trustee remuneration**
The average monthly number of employees during the year was 7 (2023: 7).
One member of staff received a salary at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the key staff named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:
|Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Jeremy Dearing
57,780
-
4,622
Stephen Bloomer
2,428
-
-
following amounts were payable in the previous year:
Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Jeremy Dearing
41,120
-
1,448
Stephen Bloomer
5,039
-
-|2024
£
62,402
2,428|
|---|---|
||64,830|
||2023
£
42,568
5,039|
||47,607|
The following amounts were payable in the previous year:
Jeremy Dearing served as CEO and Stephen Bloomer as part of the UK mobilisation team and both received the above payments for serving in those capacities, not for serving as trustees. These payments are permitted by the charity's governing document.
## **8 Social investments**
|Cost, less impairment, brought forward
Loans made in the year
Loans repaid in the year
Provision for impairment
Cost, less impairment, carried forward|concessionary
loans
6,417
(6,417)
-
-|2024
£
6,417
-
(6,417)
-
-|2023
£
-
7,000
(583)
-|
|---|---|---|---|
||||6,417|
Social investments comprise a concessionary loan made to Jeremy Dearing in the prior year for the purposes of replacing his car which was written off in a "no fault" accident. A car is considered essential for the conduct of his duties as CEO. This loan was repayable by monthly instalment and was fully repaid during the year.
Page 12
## **GREATER EUROPE MISSION UK**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **9 Debtors**
|**9**
**Debtors**|||
|---|---|---|
|Other debtors
**10**
**Cash at Bank and in Hand**
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
**11**
**Creditors: liabilities falling due within one year**
Taxation and social security
Pension creditor
Accruals|2024
£
10
10
2024
£
114,549
51,251
165,800
2024
£
2,472
4,221
5,692
12,385|2023
£
-|
|||-|
|||2023
£
140,687
-|
|||140,687|
|||2023
£
2,253
956
3,360|
|||6,569|
## **12 Pension commitments**
During the year employer’s pension contributions totalling £6,107 (2023: £2,124) were payable to defined contribution personal pension schemes.
Page 13
## **GREATER EUROPE MISSION UK**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **13 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
Focus City
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
UK/Europe based missionaries:
_Berrondo_
_Spencer_
_S Brandt_
_Chen_
_Dearing *_
_Stefanescu *_
_Other missionaries_
US sent missionaries
Annual Conference
Church Planting fund
Ten 2 project
Aggregate of funds|Opening
balance
2024
£
36,669
36,669
73,858
110,527
292
8,563
(2,650)
2,694
3,351
1,563
11,509
104
886
2,500
1,197
30,009
140,536|Incoming
resources
2024
£
54,415
54,415
203,183
257,598
28,333
30,748
50,079
28,961
11,367
20,939
11,161
83,071
-
-
9,306
273,965
531,564|Outgoing
resources
2024
£
(40,093)
(40,093)
(232,688)
(272,780)
(28,656)
(33,401)
(43,213)
(31,127)
(6,290)
(8,412)
(7,453)
(78,228)
-
-
(9,114)
(245,893)
(518,673)|Transfers
in the year
2024
£
(11,420)
(11,420)
14,806
3,386
-
(119)
(237)
(119)
-
(237)
-
-
(174)
(2,500)
-
(3,386)
-|Gains and
losses
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Closing
balance
2024
£
39,572|
|---|---|---|---|---|---|---|
|||||||39,572
59,159|
|||||||98,731|
|||||||(31)
5,792
3,979
409
8,427
13,853
15,217
4,947
712
-
1,390|
|||||||54,694|
|||||||153,425|
- Funds for Dearing & Stefansecu were previously included in the 'Other missionaries' fund
The transfers referred to above were made for the following reasons:
a) From Annual Conference & Church Planting Funds to General Funds to offset expenditure which fulfils these restrictions. b) From individual missionary funds to the Annual Conference Fund to contribute to the cost of the Renew Conference in 2025. c) From Focus City designated fund to General Funds to reflect the central support costs in running Focus City Birmingham.
Page 14
## **GREATER EUROPE MISSION UK**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **13 Funds (cont.)**
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|**ysis of net assets by fund**
assets and liabilities of the various funds were as follows:||||
|---|---|---|---|
|Debtors
Cash at bank and in hand
Creditors falling due within one year|General
Designated
funds
funds
£
£
10
71,534
39,572
(12,385)
-
59,159
39,572
Unrestricted Funds|Restricted
funds
£
-
54,694
-
54,694|2024
£
10
165,800
(12,385)|
||||153,425|
In the previous year the movements in the charity's funds were as follows:
|_Designated Funds_
Focus City
_General Unrestricted Funds_
_Total Unrestricted Funds_
_Restricted Funds_
UK/Europe based missionaries:
_Berrondo_
_Spencer_
_Davis_
_S Brandt_
_Chen_
_Other missionaries_
US sent missionaries
Annual Conference
Church Planting fund
Ten 2 project
_Aggregate of funds_|Opening
balance
2023
£
8,338
8,338
38,018
46,356
(258)
6,784
1,276
63
-
8,395
733
-
-
-
16,993
63,349|Incoming
resources
2023
£
70,739
70,739
219,749
290,488
37,867
27,412
13,789
32,872
15,660
20,926
87,290
886
2,500
13,200
252,402
542,890|Outgoing
resources
2023
£
(42,408)
(42,408)
(183,909)
(226,317)
(37,317)
(25,633)
(15,065)
(35,585)
(12,966)
(12,899)
(87,919)
-
-
(12,003)
(239,387)
(465,703)|Transfers
in the year
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
|Closing
balance
2023
£
36,669|
|---|---|---|---|---|---|---|
|||||||36,669
73,858|
|||||||110,527|
|||||||292
8,563
(0)
(2,650)
2,694
16,422
104
886
2,500
1,197|
|||||||30,009|
|||||||140,536|
Page 15
## **GREATER EUROPE MISSION UK**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 JUNE 2024**
## **13 Funds (cont.)**
## _**Analysis of net assets by fund**_
In the previous year, the assets and liabilities of the various funds were as follows:
|Social investments
Cash at bank and in hand
Creditors falling due within one year||General
Designated
funds
funds
£
£
6,417
74,010
36,669
(6,569)
-
73,858
36,669
Unrestricted Funds|Restricted
funds
£
30,009
-
30,009|2023
£
6,417
140,687
(6,569)|
|---|---|---|---|---|
|||General
funds
£
6,417
74,010
(6,569)
73,858|||
|||||140,536|
## _Designated Funds_
The Focus City fund relates to unrestricted income which has been set aside for outreach in Birmingham, as a major UK city.
## _Restricted Funds_
The UK/Europe based missionaries funds represent restricted income received for specific missionaries based in the UK & Europe. Missionaries with income receipts of less than £10,000 are included as 'Other missionaries'.
The US sent missionaries fund represents restricted income received for missionaries sent to the UK from the US. The Annual Conference fund is for restricted funds related to the annual conference.
The Church Planting fund is restricted to church planting activities. The Ten2 Project is a restricted fund for this particular project
## **14 Transactions with related parties**
Except as disclosed in note 7 'Analysis of staff costs', there have been no other transactions with related parties during the year.
Page 16
## **GREATER EUROPE MISSION UK**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 30 JUNE 2024**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Interest income
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
5
Raising funds
6
**Total Expenditure**
**Net income/(expenditure)**
**Transfers between funds**
13
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
13||General
Designated
2024
2024
£
£
177,479
54,415
22,346
-
3,358
-
203,183
54,415
231,898
40,093
790
232,688
40,093
(29,505)
14,323
14,806
(11,420)
(14,699)
2,903
73,858
36,669
59,159
39,572
Unrestricted funds|Restricted
2024
£
273,965
-
-
273,965
245,894
245,894
28,071
(3,386)
24,685
30,009
54,694|Total
2024
£
505,860
22,346
3,358
531,564
517,885
790
518,675
12,889
-
12,889
140,536
153,425|||General
Designated
2023
2023
£
£
163,814
70,739
55,220
-
714
-
219,749
70,739
183,909
42,408
-
183,909
42,408
35,840
28,331
-
-
35,840
28,331
38,018
8,338
73,858
36,669
Unrestricted funds|Restricted
2023
£
252,402
-
-
252,402
239,387
239,387
13,016
-
13,016
16,993
30,009|Total
2023
£
486,955
55,220
714
542,890
465,703
-
465,703
77,186
-
77,186
63,349
140,535|
|---|---|---|---|---|---|---|---|---|---|
Page 17