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2023-12-31-accounts

Report & Financial Statements

For the year ended 31 December 2023

Company Registration No. 00193144 Charity Registration No. 1164474

CROSSLINKS Company No: 00193144 Contents

1

CROSSLINKS Company No: 00193144 Charity information

Company No.: 00193144 Registered Charity No: 1164474 Principal address 251 Lewisham Way, London SE4 1XF President Mr. David Mills MBE Mission Director Mr John McLernon Trustees Rev. Timothy Houghton Chair Rev. Nick Jones Ms. Deborah Kelly Mr. James Steer Mrs. Victoria Widdows Mrs. Alison Miller (Resigned 8 June 2023) Rev. Les Jesudason (Resigned 10 January 2024) Rev. Roderick Thomas (Appointed 14 September 2023) Mr. Greg Obong Oshotse (Appointed 14 March 2024) Ms. Kate Randle (Appointed 14 March 2024) Mr. Mark Walkington Mr. Nick Winther Treasurer General Synod Mr Gabriel Chiu General Synod Representative Co-opted

The Mission Director and General Synod representative are non-voting members of the Board of Trustees. Other senior staff present by invitation.

Bankers Lloyds TSB Bank Plc, PO Box 1000, Andover, BX11LT Danske Bank, Donegall Square North, Belfast. Northern Ireland Allied Irish Bank, 40-42 Ranelagh, Dublin 6 Republic of Ireland Independent Auditor Mazars LLP, 2[ND] Floor, 6 Sutton Plaza, Sutton Court Road, Sutton, Surrey SM1 4FS. Solicitors Lewis & Dick, 443 Kingston Road Ewell, Surrey KT19 0DG Investment Manager Brewin Dolphin Securities Limited, 12 Smithfield Street, London EC1A 9BD

2

CROSSLINKS Company No: 00193144 for the year ended 31 December 2023

The Trustees present their report and financial statements for the year ended 31 December 2023.

Structure, governance and management.

Crosslinks is a company limited by guarantee (No. 00193144) which was incorporated on 18 October 1923 and registered as a charity on 19 November 2015 with charity registration number 1164474. The historic role of Crosslinks was as bare trustee.

Any individual can become a member of Crosslinks, if prepared to sign his or her agreement with the basis of the Society, and to signify support for Crosslinks by prayer and gifts for at least a year. The number of members at December 2023 were 790 (2022: 789). Crosslinks also has a number of friends, in 2023 there were 363 friends (2022: 372), with an unquantified number of other individual supporters.

A maximum of 13 individuals makes up the Board of Trustees, of whom 8 are elected on a 5-year cycle by members of Crosslinks prior to the Annual General Meeting normally held in June. Trustees can be elected for up to two periods of 5 years, after which there must be a gap of at least one year before being eligible to stand again for election. Profiles of members standing for election are sent to all members prior to the Annual General Meeting. The Board of Trustees may co-opt up to four members in addition to the eight elected members and care is taken to ensure there is a balance of skills and representation on the Board of trustees.

During the year various aspects of the activities of Crosslinks are presented to the Board of Trustees so they gain a more in-depth appreciation of the work done by the society. The Board of Trustees normally meets five times a year.

The Board of Trustees is responsible for the strategy and direction of Crosslinks, guarding its doctrinal position in the Christian world and monitoring performance on a regular basis, under the spiritual leadership of the Mission Director. The Mission Director (MD), with the assistance of the staff, is responsible for the day to day running within the policies set by the Board of Trustees.

Selection and Induction of Trustees

To be a trustee of Crosslinks, members are nominated by five current members (one of whom must be a trustee) and must sign the Basis of the Society. If there are more candidates standing than vacancies on the Board of Trustees an election is held, with all current voting members entitled to vote. New Trustees are announced at the Annual General Meeting. Once a Trustee is elected, they are introduced at the first Board of Trustees meeting and provided with the necessary background papers and briefings.

Responsibilities of the trustees

Charity law requires the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of Crosslinks and of its income and expenditure for the financial year. In preparing financial statements the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of Crosslinks and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Crosslinks and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees set the remuneration of the Senior Leadership Team and decide any cost-of-living increase to be granted to the whole of the UK staff on an annual basis each November.

Each trustee, as at the date of this report, has confirmed that insofar as they are aware there is no relevant information (that is information needed by auditors are unaware and they have taken the reasonable steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit informat of that information.

Public benefit

The Trustees have complied with their duty as per the Charities Act 2011 to have due regard to Public Benefit guidance published by the Charity Commission.

The Society advances religion for the public benefit by serving churches and individuals in the proclamation of the good news of the Christian gospel, in Britain, Ireland and around the world. We believe it is of eternal benefit to all people to have the opportunity to hear and respond to the invitation of salvation from our loving God.

3

CROSSLINKS Company No: 00193144

23 (continued)

The ways in which the Society seeks to serve churches and individuals in this endeavour are:

In each of these three areas there are clear ways in which each seeks to proclaim the good news of the Christian gospel through the lens of our two fundamental priorities of evangelistic (i.e. gospel) opportunities and training trainers.

Fundraising Policy

Crosslinks sees itself as a voluntary society of members, who make up the membership of the limited Company.

Crosslinks does not therefore raise funds direct from the public, but receives all of its income from members, individual supporters, churches, trusts, and it also receives legacies from past supporters and members.

Requests for financial support are made to the above groups, on the basis that they have already expressed an interest in the work of Crosslinks. Crosslinks does not contract with any third party for any fundraising activity. Crosslinks is registered with the Fundraising Regulator as well as the Fundraising Preference Service.

Any requests for support are carefully vetted by the Crosslinks team leadership, so that no undue pressure is put on

Reserves policy

Crosslinks should hold a level of free reserves (being total unrestricted funds excluding tangible fixed assets and £ 1,901,790. Free reserves at 31 December 2023 were £687,708 which is 36% (or two months) of stated policy level. Trustees regularly review the steps required to achieve the amounts required in reserves policy, whether by sale of surplus tangible assets or review of current and future activities of the Society.

Investment policy

The historic assets of Crosslinks have been used to hold properties for the accommodation of senior staff, and for the world. In addition, the resources of Crosslinks have also been held to provide working capital to meet the demands of the ministry throughout the year, but also to meet the current long-term gave rights to staff and mission partners s (See note 13).

Spare resources not needed for these requirements have been invested, and the trustees have delegated the dayto-day management of this general investment portfolio to Brewin Dolphin Securities Ltd (See page 2).

Brewin Dolphin has the authority and discretion to make investment decisions within the stated objectives of capital growth, a long-term time horizon of at least 10 years, and with a risk category commensurate with this capital growth objective. The Treasurer and Company Accountant are in regular communication with Brewin Dolphin to monitor performance.

At the year end the portfolio held 79.9% equities, split between UK and international equities, 15.8% in fixed income, and 4.3% in cash.

Risk management.

The Trustees have a risk management strategy which comprises: 

  - An annual review of the risks Crosslinks may face.

  - The establishment of systems and procedures to mitigate those risks identified in a risk register.

  - The implementation of procedures designed to minimise any potential impact on Crosslinks should these risks materialise.

4

CROSSLINKS Company No: 00193144

the year ended 31 December 2023 (continued)

2023 Mission Activities

Crosslinks is currently working on 5 continents, and across all our means of mission as can be seen by the tables below.

The Americas Europe Africa Asia & Australia Long Term Programs Long Term Programs Long Term Programs Long Term Programs Mission Partners 04 Mission Partners 40 Mission Partners 19 Mission Partners 02 MP Projects 02 MP Projects 11 MP Projects 06 MP Projects - Assoc. MPs - Assoc. MPs 04 Assoc. MPs 06 Assoc. MPs 06 AMP Projects - AMP Projects 01 AMP Projects 01 AMP Projects - Short term Programs Short term Programs Short term Programs Short term Programs Individuals 01 Individuals 07 Individuals 02 Individuals 03 SBT - SBT - SBT - SBT - Teams - Teams - Teams 11 Teams 04 Indigenous Indigenous Indigenous Indigenous Projects 03 Projects 05 Projects 11 Projects 02 Study Partners 04 Study Partners 05 Study Partners 71 Study Partners 02 Totals _ 14 Totals 73 Totals _ 127 Totals 19

2022 Mission Activities

The Americas Europe Africa Asia & Australia Total 14 Total 79 Total 113 Total 16

5

CROSSLINKS Company No: 00193144

the year ended 31 December 2023 (continued)

Finance Overview

In 2023 Crosslinks operated in 5 continents across the globe, taking in Europe, Asia & Australasia, Africa, and The Americas. During the year we have been encouraged by the support of our Members, Churches, Trusts, individuals, and the legacies that we have received. This year Crosslinks received £3.55m against expenditure of £3.70m, an operating deficit of £ 151k operating activities.

----- Start of picture text -----
Other Income
Legacies
£0.20m £0.03m
5.7% 0.8%
Trust Donations
£0.29m
8.2%
Church Donations
Personal Donations
£1.06m
£1.96m
30.0%
55.3%
----- End of picture text -----

2023 Donations £3.54m

Personal Donations £1.96m (55.3%) Church donations £1.06m (30.0%) Trust Donations £0.29m (8.2%) Legacies £0.20m (5.7%) Others £0.03m (0.8%)

----- Start of picture text -----
Support Costs
£0.29m
Cost of Rasing Funds 7.6%
£0.12m
3.2%
Building
Partnerships
£0.52m
13.9%
Projects &
Grants
£0.33 Long Term Mission
8.7% £2.44m
64.2%
Short Term
Programmes
£0.09m
2.4%
----- End of picture text -----

2023 Expenditure £3.70m

Long Term Mission £2.44m (64.2%) Short Term Programmes £0.09m (2.4%) Projects & Grants £0.33m (8.7%) Building Partnerships £0.52m (13.9%) Cost of raising funds £0.12m (3.2%) Support Costs £0.29m (7.6%)

6

CROSSLINKS Company No: 00193144

for the year ended 31 December 2023 (continued)

T

Financial review

Income totalled £ 3,547,419 which was £ 345,673 lower than 2022 (£ 3,893,092), a decrease of 8.89% on 2022.

Donations from individuals relating to continuing support amounted to £ 1,955,462 a decrease of £ 254,700 on 2022 (£ 2,210,162). Donations from churches of £ 1,064,305 showed a decrease of £ 37,311 on 2022 (£ 1,101,616).

Legacies received in the year amounted to £ 201,563 (2022: £ 256,010), which is £ 54,447 lower,

Trust Income received in the year amounted to £ 292,324 (2021: £ 283,770).

Expenditure amounted to £ 3,698,400 which was £ 171,452 lower than last year (2022: £ 3,869,852), a decrease of 4.43%.

During the year our investments, held for the provision of historical pensions, gained £ 24,411 (2022: £ 121,163 loss).

The net deficit before actuarial gain/(loss) on pensions and assets revaluation was £ 126,570 compared to net deficit of £ 97,923 in 2022. We are grateful for the continuing support of our members, Churches, Trusts, and individuals to Crosslinks.

The value of the investment portfolios increased by 7.27% in 2023 (2022: 23.09% decrease) compared to an increase of 3.8% for the FTSE 100 (2022: 0.9% increase). The value of the portfolio at 31 December 2023 was £ 427,698 (2022: £ 398,703). This increase is a gain of £ 28,995 before costs and retained income.

Cash of £ 1,195,782 at 31 December 2023 (2022: £ 228,694) includes the temporary holding of net proceeds from the Sale of a Bartlett Trust Property of £662,189 and the balance of £533,593 held in bank accounts to meet Crosslinks day to day expenditure.

Crosslinks also owns property for its own use as offices or accommodation for its staff. The value of the property portfolio at 31 December 2023: £ 3,090,600 (2022: £ 2,892,914). This is shown under the heading of Tangible Fixed Assets in the Balance Sheet.

The Investments and Tangible Fixed Assets together more than cover the Long-Term Unfunded Pension liability of £ 555,000 as at 31 December 2023 (2022: £ 561,000).

The cash resources and working capital position at the balance sheet date reflect the benefit of commitments by our supporters to meet their obligations and promises year by year.

Crosslinks has a usable surplus in its Church of England Defined Contribution Scheme of £127,000 (2022: Nil).

The actuarial valuation of the Crosslinks unfunded pension scheme liability has decreased by £ 6,000 (2022: £ 161,000 decrease) and now stands at £ 555,000 (2022: £ 561,000).

All current and future Mission Partners and UK Staff are now invited to join the Church of England Defined Contribution Scheme (called Pension Builder Classic). This scheme is auto enrolment compliant. Employer contributions are calculated on the basis of 20% of C of E National Minimum Stipend for Mission Partners and 20% of salary for UK Staff.

As a result of the above, the financial statements show a net reserves position, after provision in full for the future fiscal impact of pension liabilities, of £ 3,758,950 (2022: £ 3,685,373).

Against this background, the Trustees remain hugely grateful to God for the continuing support of churches, Individuals and Trusts,

Going Concern

The Trustees continue to monitor the issues that affect both the short- and long-term viability of the Society to ensure that it remains a going concern.

Our careful budgeting and monitoring process ensures that all Mission Partners are fully funded and three-year projections provide early warning of any corrective action that is needed. Other mission activities are committed to, only based on funds that have been received or promised and with no financial liability to the Society.

There are sufficient funds from projected income and cash reserves, if necessary, to cover the budgeted central operating costs of running the Society for at least the next three years.

7

CROSSLINKS Company No: 00193144

3 (continued)

Review of activity and future plans

. We promote and enable

engagement by:

At the end of 2023 there were 86 Mission personnel serving with Crosslinks in 28 countries. The Senior Leadership team support them through personal visits, online meetings and conferences. In September Crosslinks ran a residential conference in the Netherlands for 33 of our European Mission Partners and their families, providing spiritual refreshment, encouragement, and fellowship. We were so encouraged by this that we plan a similar conference in Africa in early 2025.

Despite the challenges of the past few years, new mission personnel continued to be selected, prepared, and placed overseas. The Mission activities of the Society are summarised geographically on page 5 of these statements. During the year 1 AMP retired and 1 MP resigned at the end of their deployments. 2 MPs were placed around the world.

82 Study Partners from 22 countries, who are actively engaged in theological and ministry courses in 25 different colleges in 14 countries.

The Office Team in London and Belfast are equipped to work flexibility. This year we further supported that work adaptability by migrating to cloud-based systems and storage. Staff and Trustees met in October 2023 for a conference. One of the conference aims was to share further developments on the strategic priorities set in our Centenary year 2022.

During 2023 Alison Miller resigned as a Trustee and Rt Rev. Roderick Thomas was co-opted to the Board. Further, in early 2024 Rev. Les Jesudason stood down, and Kate Randle, and Greg Obong Oshotse joined.

The trustees are grateful for the progress that continues to be made by Crosslinks mission personnel and projects,

Our prayer is that these efforts, by the grace of God, will result in disciple making disciples across the entire world.

Auditors

A resolution will be proposed at the Annual General Meeting that Forvis Mazars LLP be appointed as auditors to Crosslinks.

BY ORDER OF THE BOARD

Rev. Tim Houghton Trustee

8

CROSSLINKS Company No: 00193144

Crosslinks

Opinion

2023 which

comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statement and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern.

accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

legal requirements.

9

CROSSLINKS Company No: 00193144

Matters on which we are required to report by exception.

In light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied 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 statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud o 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 misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of Crosslinks and its activities, we identified that the principal risks of noncompliance with laws and regulations related to the Charities Act 2011, UK tax legislation, pensions legislation, employment regulation and health and safety regulation, anti-bribery, corruption and fraud, money laundering, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and the Charities Statement of Recommended Practice.

financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to use of restricted and endowment funds, and significant one-off or unusual transactions.

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:

10

CROSSLINKS Company No: 00193144

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Repo www.frc.org.uk/auditorsresponsibilities report.

Use of the audit report

This report is made solely to the

no other purpose. To the fullest extent permitted body for our audit work, for this report, or for the opinions we have formed.

Signed:

Nicola Wakefield

(Senior Statutory Auditor) for and on behalf of Forvis Mazars LLP Chartered Accountants and Statutory Auditor

6 Sutton Plaza, Sutton Court Road, Sutton, Surrey, SM1 4FS

Date:

11

CROSSLINKS Company No: 00193144

Statement of financial activities for the year ended 31 December 2023

Notes
Unrestricted
£
Income
Donations and legacies
2
3,166,466
Investment income
3
10,444
Other income
22,070
Total Income
3,198,980


Expenditure
Cost of Raising Funds
4
118,843
Charitable activities
5
3,216,292
Total Expenditure
3,335,135
Operating (Deficit)/Surplus
(136,155)
Net gains/(loss) on investments
10
18,538
Transfers
Transfers between funds
14,205
Net Movement in funds after transfers
(103,412)
Revaluation of Property Asset
9
127,151
Gain on defined benefit pension
scheme
13
127,000
(Loss)/gain on unfunded pension
scheme
13
(54,004)
Net Movement of funds
96,735
Reconciliation of funds
Total funds brought forward
14, 15
3,263,465
Total funds carried forward
14, 15
3,360,200		 Restricted
£
347,188
1,251
-
348,439

-
363,265
363,265
(14,826)
5,873
(14,205)
(23,158)
-
-
-
(23,158)
421,908
398,750		 2023
Total
£
3,513,654
11,695
22,070
3,547,419

118,843
3,579,557
3,698,400
(150,981)
24,411
-
(126,570)
127,151
127,000
(54,004)
73,577
3,685,373
3,758,950		 2022
Total
£
3,851,558
8,713
32,821
3,893,092
128,580
3,741,272
3,869,852
23,240
(121,163)
-
(97,923)
-
688,508
104,639
695,224
2,990,149
3,685,373

The charity statement of financial activities includes all recognised gains or losses in the year

12

CROSSLINKS Company No.: 00193144 Balance sheet at 31 December 2023

Notes
xed assets
angible fixed assets
9
vestments
10
urrent assets
ebtors
11
roperty awaiting sale
ash at bank & in hand
20
reditors: Amounts falling due within one year
12

et current assets or liabilities
et asset or liabilities excluding pension asset or
ability
rovision for Unfunded Pension
13
sable surplus for C of E Scheme
13
otal net assets or liabilities
unds
estricted
14
nrestricted
15		 £
3,100,492
427,698
267,715
-
1,195,782
1,463,497
(804,737)

 2023
£
3,528,190
658,760
4,186,950
(555,000)
127,000
3,758,950
398,750
3,360,200
3,758,950		 £
2,902,238
398,703
258,559
590,000
228,694
1,077,253
(131,821)





 2022
£
3,300,941
945,432
4,246,373
(561,000)
-
3,685,373
421,908
3,263,465
3,685,373

Approved by the Trustees on 19[th] June 2024 and signed on their behalf by:

Mr N. Winther Treasurer

Rev. T. Houghton Chair

13

CROSSLINKS Company No.: 00193144 Statement of cash flows for the year ended 31 December 2023

Notes
Net cash inflow from operating
activities
19
Returns on investments and servicing of
finance
Investment Income
Net cash inflow from returns on investments &
servicing of finance
Capital expenditure & financial
investment
Disposal of investments

Movement in Cash
Purchase of fixed assets
Purchase of investments
Cash outflow for capital expenditure &
financial investment
Increase/ (Decrease) in cash
20		 2023
£
£
967,940
11,695
11,695
47,043

10,842
(7,963)

(62,469)
(12,547)
967,088		 £

8,713
309,260
144
(408,784)
(110,806)		 2022
£
173,582
8,713
(210,186)
(27,891)

14

CROSSLINKS Company No.: 00193144 Notes to the financial statements for the year ended 31 December 2023

1.1 Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial Statement are as follows:

1.2 Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January, 2019) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Crosslinks meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

1.3 Going Concern

The trustees have prepared the financial statement on a going concern basis. The trustees have carefully considered the budgets for the 12 months from the date of signing. The trustees believe that Crosslinks has sufficient funds to meet their liabilities as they fall due.

1.4 Income

Income is recognised when the charity has entitlement to the funds, and it is probable that the funds will be received, and the amount can be measured and is not deferred. Interest receivable is dealt with on an basis. Investment income is dealt with on an basis.

1.5 Fund accounting

All funds received by Crosslinks are applied to the support of direct or indirect mission costs in accordance with the objects of the charity. Where applicable, tax is recovered under the Gift Aid scheme.

As a prerequisite of deploying mission partners, we seek funding partnerships to support an initial 3 years of living expenses and other costs of mission including central administration. All funds received are managed in the name of the individual Mission Partners or other means of mission but are held collectively within general unrestricted funds for the benefit of all mission in process at any one time.

Unrestricted funds

Restricted funds

These are funds which can only be used for restricted purposes within the objects of the charity. Restrictions may arise when specified by the donor or when funds are raised for restricted purposes.

1.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be reliably measured. Cost of raising funds - This comprises all costs incurred in attracting voluntary income. Costs of charitable activities - This comprises all costs directly related to the objects of Crosslinks.

1.7 Depreciation

Material individual fixed assets are capitalised at cost. Depreciation is calculated to write off the cost of fixed assets in use at the balance sheet date on the basis described in note 9.

Depreciation and surpluses or losses on the disposal of fixed assets used for charitable purposes are reflected in the Statement of Financial Activities before stating net income before transfers. The charity adopts a policy of revaluation for its properties. Further detail is provided in note 9.

15

CROSSLINKS Company No.: 00193144 Notes to the financial statements for the year ended 31 December 2023 (Continued)

1 Accounting policies (continued)

1.8 Pension contributions

The Society makes use of a defined contribution scheme administered by the Church of England Pensions Board. Contributions payable to the pension schemes are charged to the Statement of Financial Activities to spread the cost of pensions over the service lives of employees in the pension scheme. Mission Partners and UK staff who are ordained are members of the Church of England Clergy Pension scheme for whom Crosslinks makes no contributions. See note 13 for further information. The Society also provides unfunded pensions for some former Mission Partners and UK staff (see note 13).

1.9 Branch offices

The results for the office in Ireland have been incorporated into these financial statements.

1.10 Investments

Investments are stated at market value on the last day of business in the accounting period. Gains and losses on the disposal of investments together with unrealised gains or losses on the annual revaluation are disclosed in aggregate in the Statement of Financial Activities.

1.11 Operating leases

Rentals applicable to operating leases where all the benefits and risks of ownership remain substantially with the lessor are charged to the Statement of Financial Activities as incurred over the term of the lease.

1.12 Foreign currencies

Transactions in foreign currencies are translated at the rates prevailing at the date of the transaction. Balances denominated in foreign currency are translated at the rate of exchange prevailing at the year end.

1.13 Critical Accounting Judgements and Estimation Uncertainty

The directors evaluate estimates and judgements incorporated into the financial statements. Estimates are based on historical information, assume a reasonable expectation of future events, and are based on current trends and economic data, obtained both externally and within the charity:

Property Valuations

Property is disclosed at fair value at the date of the financial statements. We rely on external valuations over a period from 2021-2023. However, in reaching a fair value at the year-end, we source external benchmark information such as Land Registry House Price Indices and comparable sales. Where there is a material difference in fair value, we apply a relevant index and record a gain or loss. The trustees have reviewed the valuations and consider them to be the fair value of the properties at the year-end.

Pension liabilities

The pension liability is held at the valuation performed at the year-end by external actuaries and the trustees consider this to be a reasonable estimate of the pension liabilities.

1.14 Admin Costs (Note 7)

The admin costs are calculated by removing the costs which relates to the cost of raising funds (Note 4), building partnerships (Note 5), and central support fees from total expenditure of the four UK teams.

2 Donations & legacies

Unrestricted
Restricted


£
£
Donations from Individuals
1,722,732
232,730
Donations from Churches
967,524
96,781
Legacies
201,563
-
Donations from Trusts
274,647
17,677
3,166,466
347,188		 2023
Total
£
1,955,462
1,064,305
201,563
292,324
3,513,654
 2022
Total
£
2,210,162
1,101,616
256,010
283,770
3,851,558

16

CROSSLINKS Company No.: 00193144 Notes to the financial statements for the year ended 31 December 2023 (Continued)

3
Investment Income
Unrestricted
Restricted
£
£
Rental income
-
-
Interest Received
2,889
UK Stock Exchange dividends
7,555
1,251
10,444
1,251
4
Costs of raising funds
Mission
Partnership
Team
Ireland


£
£
Salaries and pension
66,454
28,404
Mission Travel
4,304
648
Magazines & literature
16,511
115
Other costs
340
2,067
87,609
31,234		 2023
Total
£
-
2,889
8,806
11,695
2023

Total

£
94,858
4,952
16,626
2,407
118,843		 2022
Total
£
-
-
8,713
8,713
2022
Total
£
107,017
5,370
11,179
5,014
128,580

The above costs are an estimate of the contribution the Mission Partnerships team and the Ireland team makes to the raising of funds and is a

5 Charitable activities

haritable activities
Direct costs
Admin costs
(Note 7)


£
£
Mission Partners and Associates
2,329,909
211,761
Short-term programmes (Teams &
Individuals), camps
94,283
8,569
Projects and grants (Note 6)
216,761
19,701
113,558
10,321
Building Partnerships
526,813
47,881
3,281,324
298,233		 2023
Total

£
2,541,670
102,852
236,462
123,879
574,694
3,579,557		 2022
Total
£
2,666,313
114,967
324,293
109,004
526,695
3,741,272

The building partnership line above is an estimate of the cost incurred by each team enabling the above charitable activities and is a percentage of team costs.

6 Projects & Grants

Permanent Projects

France/Belgium/Germany
Inter-Action
Ethiopia
Nekemte school for the deaf
India
Education for Liberation
Uganda
Karamoja
Cuba
Predica Fiel		 £
37,197
16,046
9,658
8,499
2,823
74,223

17

CROSSLINKS Company No.: 00193144 Notes to the financial statements for the year ended 31 December 2023 (continued)

Projects & Grants

rojects & Grants
Crosslinks Indigenous Projects (Grants) £
Kenya 27,792
Serbia Project Timothy 26,218
Kenya Marsabit Youth Worker 15,038
Ethiopia Indigenous Evangelism and Renewal 12,014
Latvia Pardaugava Reformed Church 11,223
India North India Bible Training 8,963
Kenya Gracepioint Youth Worker 8,149
UK Ministry Fund 7,139
South Africa Christ Central Soweto 6,492
UK Indigenous Mission General 3,547
Nigeria Ayuba Ashiru 3,405
Nigeria Charita, Ezech 3,405
Cuba Ceron, Cristobal 3,127
Nigeria Namata, Habibu 2,928
Kenya iServe Africa 1,213
__
140,653
Others 1,885
__
142,538
__
Total Project & Grants 216,761

6.1 Other Project Activities (In addition to the support of Mission Partners and Associate Mission Partners, the following payments were made in 2023 for project activities listed below, all covered by designated income.

Associate Mission Partners Projects £
South Africa Buchanan, Hope Church 68,800
_
68,800
Mission Partners Projects £
Ukraine Innes
Ukraine Response		 92,537
Italy Oden Gospel Worker 22,887
Argentina Walker, Jony & Jenny Bertin 16,964
Sweden Watson, Equipped Sweden 16,888
Portugal Clarke, Comundade de Graca 11,983
Italy Oden Educational Fund 11,811
Italy Aranzulla, Project Fund 7,040
Napal Watkinson, SBT Support Fund 5,942
Uganda Howles, UMS Building 3,312
UK Hookers Education Fund 2,606
Kenya Mwangi Youth Workers Training 2,378
Argentina Walkers Francisco & Ely Aguirre 2,133
Belgium Bellis LLN Mission Week 2,105
South Africa Fund 1,037
__
199,623
BEST **£ **
South Africa Tomalin, Adam 9,088
Kenya Kahane, Alex Muiruri 6,154
Tanzania Elphace, Raymond 5,229
Kenya Nganga Cephas 4,184
Liberia Quetee Mathias 3,938
Argentina Perez, Gibbons, Gaston 3,895
Tanzania Katunzi Grayson 3,608
Moldova Chisari, Mihai 3,600

Notes to the financial statements

18

CROSSLINKS Company No.: 00193144 for the year ended 31 December 2023 (continued)

Projects & Grants

South Africa
Mangwira John
South Africa
Singana Simon Habil
Uganda
Ntambi Derrick
Zambia
Chilutya joseph
Chile
Rivera, Diego
Ghana
Abosi, Joseph
Uganda
Cwinyaai Walter
Uganda
Egati Eric
DR Congo
Matumbi, Jelesco
Zambia
Hanjalika, Clemore
Ethiopia
Tola, Abraham Yadessa
Ethiopia
Desta, Dangia
Nigeria
Jos Evangelical Theological
Kenya
Mogita, Abel Moriasi
Kenya
Opiyo, Evans
Uganda
Longok Samuel
Uganda
Sserwadda, Alex
Argentina
Fernandez, Maria Emilia
Burundi
Mutezimana, Amos
Uganda
Musaasizi, Joel
Kenya
Baqata, Guyo Jarso
Myanmar
Nellson, Saw
Kenya
Kihara, Zablon
Tanzania
Japhet, Geofrey
Tanzania
John, Flora
Others
Payments of £1,000 or less
Administration costs allocation
Mission
Personnel
Team
The Hub
Mission
Partnership
Team
£
£
£
Salaries and pensions
237,459
314,167
166,136
Office expenses & other costs
25,878
196,750
13,145
Governance Costs
-
30,993
-
Communication costs
-
-
47,602
Total Expenditure by Teams
263,337
541,910
226,883
Less: Costs of raising funds
(Note 4)
-
-
(87,609)
Less: Costs relating to Building
Partnerships
(210,669)
(107,007)
(113,442)
Less: Central Support Fees
-
(246,815)
-
Total Administration Costs
52,668
188,088
25,832		 Ireland
Team
£
142,019
14,054
-
1,124
157,197
(31,234)
(94,318)
-
31,645		 2023
Admin
Costs
£
859,781
249,827
30,993
48,726
1,189,327
(118,843)
(525,436)
(246,815)
298,233		 £
3,160
2,897
2,826
2,683
2,378
2,342
2,212
2,191
2,123
2,091
1,972
1,968
1,963
1,874
1,838
1,539
1,531
1,388
1,224
1,188
1,176
1,110
1,062
1,055
1,034
__
86,521
15,977
__
370,921

7 Administration costs allocation

The total expenditure of the four UK teams is shown above. The administration costs are calculated by removing the costs which relate to the cost of raising funds (Note 4) and building partnerships (Note 5). No trustees were remunerated during the year (2022: None) for their services as trustees.

Audit Fees for 2023 were £ 18,900 plus VAT (2022: £ 18,500 plus VAT).

Notes to the financial statements

19

CROSSLINKS Company No.: 00193144 for the year ended 31 December 2023 (continued)

8 Staff costs

aff costs
2023 2022
£ £
Salaries 681,972 624,145
Social security costs 67,030 65,295
Pension contributions (C of E) 110,779 106,117
859,781 795,557
Staff numbers 2023 2022
Full time Part time Full time Part time
Partnership 3 1 5 -
Personnel 4 1 4 1
Ireland 2 2 2 2
Hub 6 0 6 1
15 4 17 4

In addition, there are 65 (2022: 75) Mission Partners and 16 (2022: 24) Associate Mission Partners for whom the charity is responsible.

One employee was paid at a rate between £60k -£70k in 2023 (2022: None) a further £13k of Pension contributions were made for this employee.

The key management personnel of the Charity comprise the Senior Leadership Team (4), and the Accountant whose employee benefits total £ 274,358 (2022: £ 263,654).

9 Tangible Fixed assets

Cost or valuation
At 1 January 2023
Additions
Property Revaluation
Write offs
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
Write back
Write offs
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Freehold
property
Furniture and
equipment
£
£
2,960,434
46,691
3,015
4,948
127,151
-
-
(29,693)
3,090,600
21,946
67,520
37,367
-
4,380
(67,520)
-
-
(29,693)
-
12,054
3,090,600
9,892
2,892,914
9,324		 Total
£
3,007,125
7,963
127,151
(29,693)
3,112,546
104,887
4,380
(67,520)
(29,693)
12,054
3,100,492
2,902,238

The historical cost of the freehold property shown above was £ 2,057,701 (2022: £2,057,701).

Notes to the financial statements

20

CROSSLINKS Company No.: 00193144 for the year ended 31 December 2023 (continued)

The building element of freehold properties is written off on a straight-line basis over 50 years. Furniture and equipment are depreciated at 15% per annum on a reducing balance basis or 20% per annum on cost depending upon the estimated useful life of the assets.

Our properties are valued on a 3-year basis by a RCIS Surveyor. However, between valuation dates, an annual desktop review is undertaken to measure fair value using relevant indices (primarily House Price Index) and supported by actual sale information of equivalent properties. It was determined that there were material differences between the value of the last survey and the desktop review. Trustees are placing reliance on the desktop review to determine fair value at 31[st] December 2023.

10 Investments

Listed on the Stock Exchange
Cash held as part of the investment portfolio
Cash Held in Charities Official Investment Fund
Movement in Investments during the year
Value at 1 January
Additions of listed investments
Disposals of listed investments
Movement in cash
Gains on investments
Value at 31 December		 Cost
£
386,519
3,482
2,789
392,790		 2023

Market
value
Cost
£
£
421,427
356,861
3,482
13,250
2,789
3,863
427,698
373,974
2023

£

398,703
62,469
(47,043)
(10,842)
24,411
427,698		 2022
Market
value
£
381,590
13,250
3,863
398,703

2022
£
718,464
110,806
(309,260)
(144)
(121,163)
398,703

Included in the portfolio are the following investments which represent more than 5% of the total value of the portfolios.

2023 2022
Market value Market Value
£
 £
Vanguard Funds Plc FTSE 100 UCITS ETF GBP DIS 23,393 -
Vanguard Investment UK LT US Equity IDX 29,295 25,024
11 Debtors
2023 2022
£ £
Accrued Income 231,381 257,059
Prepayments 36,329 -
Other debtors 5 1,500
267,715 258,559

Accrued Income includes legacies of £145K (2022: £256K).

21

CROSSLINKS Company No.: 00193144 Notes to the financial statements for the year ended 31 December 2023 (continued)

12 Creditors

Social Security
Funds held on behalf of others -Bartlett Trust (note 21)
Accrued expenses		 2023
2022
£
£
21,267
20,691
662,189
-
121,281
111,130
804,737
131,821

13 Pensions

Crosslinks has participated in the following 5 separate pension schemes, 4 of which are within the Church Workers Pension Fund (CWPF) of the Church of England Pension Board (CEPB).

a. Crosslinks CWPF Pension Builder Classic scheme, for all current lay UK staff and Mission Partners

This Scheme is administered by the Church of England Pensions Board, which holds the assets of the scheme separately from those of Crosslinks and the other participating employers.

The Pension Builder Classic scheme provides a pension for members for payment from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Bonuses may also be declared, depending upon the investment returns and other factors.

Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from

There is no sub-division of assets between employers in each section of this scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are contributions payable. (2023: £ 376,919, 2022 £ 378,891)

A valuation of the scheme is carried out once every three years. The most recent scheme valuation was carried out as at 31 December 2022.

All current and future lay UK staff and Mission Partners are invited to join this scheme. Contributions are calculated at 20% of National Minimum Stipend for Mission Partners and 20% of salary for UK staff.

At 31 December 2023 Crosslinks had 68 (2022: 71) active members of the CEPB Pension Builder Scheme.

b. Crosslinks Church of England Pensions Scheme for clergy, whether UK Staff or Mission Partners or Associate Mission Partners.

Crosslinks participates in this scheme by virtue of its membership of the Partnership for World Mission (PWM), a network of historical Church of England Mission Agencies.

Under the terms of the PWM agreement, there is a statutory requirement under the Pension Measure 1997 that the Church Commissioners are required to meet the pension costs of clergy employed by Church of England members of PWM.

At 31[st] December 2023 there were 14 (2022: 14) Active Crosslinks clergy who benefited from this provision at no cost to Crosslinks.

c. Crosslinks Unfunded Pension Scheme (Closed)

Crosslinks has made pension payments of £ 60,004 (2022: £ 56,361) to former UK staff and mission partners which are not funded by the arrangements with The Church of England Pension Board. As at 31 December 2023 the £ 555,000 (2022: £ 561,000) and this has been provided in full. The overall liability decreased by £ 6,000 in the year (2022: decreased £ 161,000).

22

CROSSLINKS Company No.: 00193144 Notes to the financial statements for the year ended 31 December 2023 (continued)

The main assumptions used in the valuation of this liability are the discount rate applied and the annual increase in the CPI. The discount rate was estimated at 4.5% (2022: 4.8%) for the year. The annual increase in the CPI has been estimated at 3.0% per annum for 2023 and 3.0% thereafter.


Provision for pensions at 1 January
Payment in the year
Increase/(decrease)in provision for the year
 2023

£

561,000
(60,004)
54,004

555,000
 2022
£
722,000
(56,361)
(104,639)
561,000

nded pension payments for the 27 current pensioners in payment. The provision relates to the potential liability to members and former members of the BCMS 1972 Retirement Pension Scheme, including those who also joined the Scottish Amicable scheme in 1983. Within these numbers, adjustments have been made for 14 pensioners who have waived these pensions from Crosslinks for the benefit of Crosslinks. We are incredibly grateful to these individuals for their support of the Society in this way.

There is also 1 further individual identified as a prospective unfunded pensioner and provision has been made for their potential future pension liability.

d. Crosslinks CWPF lay UK Staff and Mission Partners Defined benefit Scheme (Closed)

Crosslinks participates in the DBS section of CWPF for both lay UK staff and Mission staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of Crosslinks and the other participating employers.

CWPF has two sections: 1) the Defined Benefits. 2) the Pension Builder Scheme which has two subsections: a) a deferred annuity section known as Pension Builder Classic and b) a cash balance known as Pension Builder 2014.

lay UK staff and Mission Staff, based on final pensionable salaries.

For funding purposes, the DBS is divided into sub-pools in respect of each participating employer as well as a further sub-pool, known as the Life Risk Pool. The Life Risk Pool exists to share certain risks between employers, including those relating to mortality and post-retirement investment returns.

The division of the DBS into sub-pools is notional and is for the purpose of calculating ongoing contributions. They do not alter the fact that the assets of the DBS are held as a single trust fund out of which all the benefits -pools to the Life Risk Pool and all pensions and death benefits are paid from the Life Risk Pool.

It is not possible to through the Life Risk Pool, is exposed to actuarial risks associated with the current and former employees of other entities participating in the DBS. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102 and as such contributions are accounted for as if the Scheme were a defined contribution scheme.

If, following an actuarial valuation of the Life Risk Pool, there is a surplus or deficit in the pool and the Actuary -pools, or vice versa. The amounts to be transferred (and their allocation between the sub-pools) will be settled by the Church of England Pensions Board on the advice of the Actuary.

A valuation of the DBS is carried out once every three years, the most recent having been carried out as at 31 December 2019. In this valuation, the Life Risk Section was shown to be in deficit by £7.7m and £7.7m was -pools to the Life Risk Pool. This increased the Employer contributions that would otherwise have been payable. The overall deficit in the DBS was £11.3m.

23

CROSSLINKS Company No.: 00193144 Notes to the financial statements for the year ended 31 December 2023 (continued)

Lay UK Staff. The pensions costs charged to the SoFA in the year contributions are payable towards benefits and expenses accrued in that year (2023: £ Nil, 2022: £9,700), plus any impact of deficit contributions, giving a total charge of £ Nil for 2023 (2022: £30,300).

Balance sheet liability at 1 January
Deficit contribution paid
Interest cost (recognised in SoFA)
Remaining change to the balance sheet liability*(recognised in SoFA)
Balance sheet liability at 31 December		 2023
£
-
-
-
-
-		 2022
£
234,000
(40,000)
3,000
(197,000)
-

Where relevant this liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions, set by reference to the duration of the deficit recovery payments:

December 2023 December 2022 December 2021
Discount rate. N/A 0.00% 1.50%

Lay Mission Staff. The pensions costs charged to the SoFA in the year contributions are payable towards benefits and expenses accrued in that year (2023: £ Nil, 2022: £26,600), plus any impact of deficit contributions, giving a total charge of £ Nil for 2023 (2022: £90,400).

Balance sheet liability at 1 January
Deficit contribution paid
Interest cost (recognised in SoFA)
Remaining change to the balance sheet liability*(recognised in SoFA)
Balance sheet liability at 31 December		 2023
£
-
-
-
-
-		 2022
£
647,000
(117,000)
9,000
(539,000)
-

Where relevant this liability represents the present value of the deficit contributions agreed as at the accounting date and has been valued using the following assumptions, set by reference to the duration of the deficit recovery payments:

December 2023 December 2022 December 2021
Discount rate. N/A 0.00% 1.50%

At 31[st] December 2023 there were 31 (2022: 34) lay UK Staff and Mission Staff pensioners and 100 (2022:104) deferred pension members in the Fund.



C of E pension Liability at 1 January
Payment in the year
(Decrease)/increase in Liability at Triennial Valuation
 2023

£

-
-

-

-		 2022
£
881,000
(157,000)
(724,000)
-

24

CROSSLINKS Company No.: 00193144 Notes to the financial statements for the year ended 31 December 2023 (continued)

Defined benefit scheme surplus at 31[st] December 2022

Church of England actuaries confirmed that the Defined benefit scheme at 31[st] December 2022 had a surplus of £1,599,500. These are due to current economic conditions and investment actions of the scheme managers. There are now plans for a final buy-in and closing of the scheme much sooner than anticipated. Accounting standards (IFRIC 14) do not permit Crosslinks to recognise the £1,599,500 in our Balance Sheet. However, Church of England to Crosslinks of £127,000. Therefore, we are permitted to recognise this surplus as an asset of £127,000 at the balance sheet date.

14 Restricted funds

Karamoja
£

Funds at 1 January 2023
60,931
Income
2,307
Expenditure
(8,499)
Gain on investment
5,873
Transfers between funds
-

Balance as at 31 December 2023
60,612		 Mission
Partner
Projects
Associate
Mission
Partners
Total
£
£
£
208,042
152,935
421,908
68,833
277,299
348,439
(94,157)
(260,609)
(363,265)
-
-
5,873
(22,225)
8,020
(14,205)
160,493
177,645
398,750		 Total
£
421,908
398,750

The Karamoja fund represents donations received to fund lump sum payments to Ugandan pastors on retirement within the two Karamoja dioceses. Mission Partner Project funds comprise some 16 (2022: 16) individual funds. These funds represent appeals made by Crosslinks for specific projects controlled by the Mission Partner for specific restricted purposes. Associate Mission Partners funds are funds for which Crosslinks acted in a trustee capacity. A number of AMP funds were closed in 2023 and their balances were transferred out. One MP funds over spent, and funds were transferred in to cover this overspend.

15 Unrestricted funds

nrestricted funds
2023
 2022
£ £
Funds at 1 January 3,263,465 2,568,805
Income 3,198,980 3,530,991
Expenditure (3,335,135) (3,523,112)
Gain on investments 18,538 (107,137)
Revaluation of Property 127,151 -
Usable Pension Surplus 127,000 -
Revaluation in unfunded pension liability (54,004) 104,639
C of E Pension revaluation - 688,508
Transfer between funds 14,205 771
Funds at 31 December 3,360,200 3,263,465
llocation of net assets between funds
Restricted Unrestricted 2023 2022
Total Total
£ £ £ £
Tangible fixed assets - 3,100,492 3,100,492 2,902,238
Investments 60,612 367,086 427,698 398,703
Net current assets 338,138 320,622 658,760 945,432
Unfunded Pension Provision - (555,000) (555,000) (561,000)
Usable surplus for C of E Scheme - 127,000 127,000 -
Total funds at 31 December 2023 398,750 3,360,200 3,758,950 3,685,373

16 Allocation of net assets between funds

25

CROSSLINKS Company No.: 00193144 Notes to the financial statements for the year ended 31 December 2023 (continued)

17 Other Financial Commitments

her Financial Commitments
2023 2022
£
 £
Operating leases
Expires within 2-5 years 919 919

18 Related Party Transactions

One member of the Trustees and senior staff was a Trustee of a Churches and/or organisations who made no donations to Crosslinks during the year. A total of none (2022: £ 0) was received.

A total of £ 446 (2022: £ 441) was reimbursed in 2023 to trustees to cover out of pocket expenses, mainly travelling to trustee meetings.

A total of £ 15,398 (2022: £ 16,942) was donated to the charity by Trustees and senior management team.

No trustees received any remuneration or other benefits relating to employment in the period from Crosslinks.

19 Statement of cash flows reconciliation



Net expenditure before other recognised gains and transfers
Investment (Loss)/gain
Sale of Property
Investment income
Depreciation including write back
Decrease/(Increase)in debtors
Increase in creditors
Pension payment for CofE scheme
Pension payment for unfunded liability
Net cash inflow from operating activities
ovement in Cash


At 1 January
Movement
At 31 December
 2023

£

(126,570)
(24,411)
-
(11,695)
(162,676)
(63,140)
580,844
672,916
-
(60,004)
967,940
2023

£

228,694
967,088
1,195,782		 2022
£
(97,923)
121,163
590,000
(8,713)
604,527
53,417
(279,225)
43,716
(192,492)
(56,361)
173,582
2022
£
256,585
(27,891)
228,694

20 Movement in Cash

26

CROSSLINKS Company No.: 00193144 Notes to the financial statements for the year ended 31 December 2023 (continued)

21 The Bartlett Trust

In the year to 31[st] and charity No 249986 (and transferred to Crosslinks in 2015), set up The Bartlett Trust to provide funds for capital expenditure for the benefit of Trinity College (Bristol Limited) a company limited by Guarantee No. 1056656 y Trust Limited, now Crosslinks. Assets acquired from the Trust funds are considered to be property of the Trust, Trinity College (Bristol) Ltd receiving free and beneficial use of those assets. Accordingly, the assets are not reflected in the Accounts of Crosslinks.

Since 1990 certain property assets have been sold and net proceeds from the sales have been applied to the development of the College site. Such funds continue to be held under the terms of the Bartlett Trust Deed. In December 2023, the remaining property 24 Little Stoke Rd was sold. Crosslinks briefly held sale proceeds at the balance sheet date, before transferring them to Trinity College (Bristol) Ltd in accordance with the Trust. The Trust incurred or committed to expenditure of £2,724,979 (2021: £1,774,979) on the development of Stoke House, a college property, as follows:

ouse, a college property, as follows:
Original Development
1990
Sale Proceeds
15 Lime Close, Brentry (2002)
Sale Proceeds
105 Knole Lane, Bentry (2013)
Sale Proceeds
81 Pine Road, Brentry (2014)
Sale Proceeds
12 Fern Close, Brentry (2015)
Sale Proceeds
24 Little Stoke Road, Brentry (2023)		 £
1,195,912
99,950
138,500
160,617
180,000
950,000
2,724,979

Acknowledgements

27

CROSSLINKS Company No.: 00193144

The mission work of Crosslinks is based on cooperation and partnerships with our many Churches, Members, Individuals and Trusts. We would like to thank those who have been in gospel partnership with us throughout 2018.

Churches

We would like to thank the various partner churches who continue to support Crosslinks, through their support for a Mission Partner or a particular Means of Mission. We would also like to thank those churches who contribute towards the central support costs of the society.

Members

Crosslinks would like to thank its membership for their continuing support both spiritually and financially. Without this membership the mission society would not survive so we are grateful to them.

Legacies

We continue to give thanks to the Lord for providing for Crosslinks in this way. We are incredibly grateful to all those who have chosen to leave legacies to Crosslinks in the last year.

Trusts

We would like to thank the Trusts who have given so generously to Crosslinks.

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