THE MATTHEW MINISTRY REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2022 THE MATTHEW MINISTRY, CAMBRIDGE Charlty Incorporated Organisation Charity number.. 1166819 Accounts- 31st December 2022 INDEX Report of the Trustees and General Infom)atlon Independent Examinerfs Report lo the Trustees Statement of Financial Acllvilies Balance Sheet Note8 to the Accounts THEMAThHEW MINL8TRV REPORTOFTHETRUSTEES IoTth+y•arqnd￿ 3151 DfceMber1022 CharltyRÈEl5irat￿DM￿rnb￿r. 1166819 PrlnclpalAddTeS5'.65GoughWay. C?mbrldge.C639LN Banker5'. CAF 8ank LSmlted. 25 Klw HIIIAvenue. Kln85HIII.West MalllTh& KentMEI54JQ Indopendent Examlner.. PeterConnorlACAI Theirusteesareplea5edtowe5enf Ihelr4nnual rewit èndfhan¢lalstatementsfoiThe MatthEwMln15tiyfortheyearended 31 Decembei2022. TRUSTEES ThoTrustooSwhosÈ￿èdd￿r1Ths theyeaiandslnce theyealer￿werÈaSIol10WS'. MrsHelen Lamb Mi Ro￿n Loa DT SlmoThWadsley 08IECtWE5 AND ACTivfTIES Yo promoteènd èdvancethe Christian faith in3ccord8ncov•lth thestatementoffalthsetwt In iknesthed￿e èppended tothe ¢haTangible assets
**Current assets**
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due within one year
Net Current Assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
**Total net assets**
**Funds of the Charity**
Unrestricted funds
**Total unrestricted funds**
**Signed by RA Lea on behalf of all the trustees**
Note
7
8
9|**Dec-22**
803,142
76,784
(10,249)
66,535
869,677
(582,183)
287,494
287,494
287,494|**Dec-21**
3,137| |---|---|---| |||219,411| |||| |||219,411
----
222,548| |||222,548
222,548| |||222,548| The notes on pages 7 to 9 form part of these financial statements Signed Date 20 September 2023 Charity Number : 1166819 The Matthew Ministry 6 THE MATTHEW MINISTRY- CHARITY NO. 1166819 NOTES TO ACCOUNTS forthe year ended 31st Deeember 2022 Ac¢ountlng Poll¢l8s The principal accounling poli¢ie$ adopted, judgments key source5 of eslimalion un¢ertaiily in lh6 preparalh)n ol the flnancial sl8t8m8nis are as follows". al Ba81s ol p¥•paratlon The eccounlg Ifinsncial stalemenlsl h8ve been prepared under the h1810dcal ￿$1 convention wllh ilem5 rectyni5ed al cosl orlrAn58dion value unless olheThwse slaleo in the relevanl rnlelsl lo IF￿88 acctrunis. The financial slalemen15 have been prepared in accordance Mlh the Se￿nd 8dilion of Ihe Charities Slaiemenl of R8¢ommend8d Pr8Gtice Issued in October 2019, the Finanaal Reporting Standard applicable in the Uniied Kingdom and Republ¢¢f Ireland IFRS 1021 and Ihtr Charities Act 2011. Golnu Concern The Iruslees conslder that there 8w no maiarfal urtartaniiÈs about thé Trusi's abllity lo continue as a going concetn. bl Incorng Tecognltlon pollcles Iletns of incom@ are reC￿gnIsed and included in the gccoun15 when an of the following crilerw are mel.. The c*arily has enliiiemenl lo the funds., . any performan￿ Condit￿nS allached io Ihe items of Income have been mel or are fully wllhln the of charfly., 4 Ihere is sufficient certaintylhal ￿e￿p1 of the income is (x)nsidered probEble.' and . lh8 am￿nI can be measuréd réllabty. C8sh don8t￿n5 are recogDi8ed on receipt. Income tsx recoverable in relelion ofth)nalions received LV)der Gift Aid or deeds of covenant is recogni5ed al the lime of the donaltan. ¢1 Change In basls of occounllng No thanoas havé btan madè trj aceounts for wewous yèars extspl m(xlrfieAtions to presentslion required by Ihe adoplion of SORP 2019. dl Donatad SoNl¢6$ and Facllltlès In a¢cordan¢e with the ¢h8ri1ieg SORP IFRS 1021 If* general lime of velunteers Ss not recognlsed kn the accounts. Fund Accounting Unreslricled funds are available Io spend on activllieg that furfher anyofihe wrposes of the Charily. n Tangible Fixed Assels Tangible fix6d 8sÉets acoulrèd for usè bylhe charity are fftibally measured at cost and subs8quenlty mea¥ured at cost or valuali¢n. nel of deprecYalh)n and any impalrm6nl losses. Depreciation Ls recognised so as lo wriie off the cost or v8luallon ol assets less Ihelr r￿dual v8knes overlhelr useful Ilves on the following bases-. Freehold land and bulWin9s not d8precialed Equipment 25% on a slravJhl line basi5 Fixtures and filtings- 20% on a slravJht line basis gl Cash al Bank and In Hand C8sh al bank Includes tr£sh h8ld in ￿l[￿nt actounts. h) Keyjudgernents 1. Key eslimale.. CharSlable donallons The Iruslees tnake eslimales and a5sumplions warding the fulure. The cash flow projedions indude assumpt￿n5 8boul nlinued donallons, the key one bèing Ihai règulargiving and ren￿1 Income will not thange significanlly from hlslorical v81s. 2. Key estimate.. ResKlual value of prop9rty The Iruslees b81ieve Ihe property held fOrGhar1tsb￿ purposes ha$ 8 high residu81 v8lue whith removes the need for depr*cial*Jn lo ba ¢har98d. 3. Property Purch8se costs Property purchase cosis have been expensed in th8 yearas the Trustees believe they add no lasting valu8 lo Ihe asset and Ihal the property was valued ex¢kndiNJ ¢ost8. The Matthew Minsitry Charity Number '. 1166819 THE MATTHEW MINISTRY- CHARITY NO. 1166849 NOTES TO ACCOUNTS Iconl.) for the year ended 31st De¢¢mb•r 2022 Legal Stalus OF the Charlty Th8 CIO was esiablished as a r8glsl8red charity on the 8th March 2016 under regisler8d charity number 1166819. 11 wa5 eslablishfjd lo support, promote and £dv8nce the Chrislian faith. primarily Ibul nol exC￿￿ve￿I in and aroun(5 th8 cilyof Cambridge. Ihrough provlslon of wemi595 and making grants. Income from Donatlan$ 2022 2021 Annual glft day Regular giving Other donalions 45.047 24,500 10,000 79,547 79,888 30,000 109,868 AU gltts and donations 8re unrestricted funds. Incomo from charltable actfvltle$ 2022 2021 Rental property inLx)me Challtable actlvltlè$ 2022 2021 Direct property cost8 Interest costs Property purchase costs Administrative expenses Dèpreciation 777 9.704 6.694 814 97 675 772 19.061 Staff and Trustees The Trust has employed no membars of siaff durirvJ the yearl2021.' nill. The ¥dmSnlsira15ve duiies and accounting have baèn undertaken bythe Trusl6$s. No wmun•r8iion was paid lo anylruslee during Ihe ￿ar norlo any person connected lo them. Tanglble Flxed A8Strts Fmhold Equlpment Flxturos land and and bulldlng$ flttlngs Total Cost Al 1 January 2022 Addilions Al 31 Déc8mbtrr 2022 2,840 1,077 3.917 972 3.812 801077 804.889 800.000 800 000 972 Dopro¢latlo Al 1 Jenuary 2022 Depreciation charge for y8ar Balance carried fO￿artI 578 878 1.456 97 194 291 675 1,072 1,747 Nel book value Brought lonvard C8Yried fO￿ard 2,262 875 681 8(MJ,000 803,142 No fixed assels have been rev21ued In Ihe year. Thé fré8hold land and buildings re￿Ie lo a resklenllal wop8riy In C8mbridg&. The charilies SORP aGknowledges that some asseis may have 2 hlgli resldual valut which will remove need far depreciation lo be charged. The Irusl8&s artr of Ihè opinion Ihal Cambridgeshire has a buoyant prop8rty matk81 and that th8 rtsidenlial propety in ￿ntral Cambridge will h8ve mainiain6d ils valu8 since acquisit￿n (late. The Irustee$ 8nli¢ipale that no depre¢ialion will be charged in future. The Matthew Minsitry Charity Number '. 1166819 THE MATTHEW MINISTRY- CHARITY NO. 1166819 NOTES TO ACCOUNTS Iconi.) for the year ended 31st D8ctrmbeT 2022 Creditors.. amounts falllng alter more than one year 2022 2021 Bank loans Inola 91 10.249 Credltors.. arnounts falllng due aftèr morg than one year 2022 2021 8ank Poan& Otr*r loans 512.183 70,000 $82.183 On 13 Strpiember2022 the charity enlored Into 8 25 yearlnieresl and capital bgaring mortgage loan with Klngdom Bank, wrfh a pThndpal value of£525.000. The mortgage is secured on Ihe freeho￿ property as shown in Dole 7. During Ihe year inleresl was payable at a variable rale. On 21 Deceinber 2022 Ihe inleresl r818 on the mortgage was 4.21%. The total amount outstanding lo Kingdom Bank ai 31 December was £522,43212021.. tnil. Other198ns ere unsecured and hleresl b8arirwJ. They ere lent lo the chanly for 8 fixed ieTm five year period expirirTrg ijn g August 2027. 10 Rèlated Partl*s The current Chair of the Mallhew bAni51ry is also a non-EX￿ul1ye Dlreclorof ￿ngdoM Bank. the issuer of the mortgage meniioned in noi8 9 whlch Is secured overlhe freeholO18nd build1n￿ In nth8 7. The Matlhew Minsilry Charity Number '. 1166819