DocuSvJn Envebpe ID.. DA3A20B2459F470E-A21$102482B74F2A INTERNATIONAL STUDENT MISSION HOUSING TRUST Registered Charity Number.. 1172542 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2023 DocuSvJn Envebpe ID.. DA3A20B2459F470E-A21$102482B74F2A INTERNATIONAL STUDENT MISSION HOUSING TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2023 nt Legal and administratsve information Report of the Trustees Statement of financial ¥tivities Balance sheet Notes to the financial slatemenls Independent examinerfs report 10 DocuSvJn Envebpe ID.. DA3A20B2459F470E-A21$102482B74F2A Page1. INTERNATIONAL STUDENT MISSION HOUSING TRUST Registered office.. The Rowan Centre, AJI Nations Christian College, Easneye, Ware, Herts SG12 8LX Adminislralive details of the chari the Iruslees and advisors The Trustees present their report together with the accounts of the chanty for the period ended 31 March 2023. The following Iru$lees served from 1 April 2022 and up to the date of the approval of the a¢counls'.- an Tower (Chairl Richard Barrett Robert Felix Elisabeth Jones (Ap￿Inted 29 April 2022) lan Sanderson Registered Charity Number 1172542 Principal address The Rowan Centre l Nats"ons Christian College Easneye Ware Herts SG12 8LX Bankers Lloyd$ Bank plc CSU Charlton Place Charlton Road Andover Hanls SP10 1RE Independent examiner Griffin Stone Moscrop & Co. 21-27 Lamb's Condurt Street London WC1 N 3GS Seli¢ilor$ Ellis-Femor & Negus 2 Devonshire Avenue Beeston Nottingham NG9 18S DocuSvJn Envebpe ID.. DA3A20B2459F470E-A21$102482B74F2A Page 2 INTERNATIONAL STUDENT MISSION HOUSING TRUST REPORT OF THE TRUSTEES Objectives The objects are to address the problem of Christian mission workers need to be located for their work in central city areas with expensive property beyond Ih&r reach lo buy or rent on typical thir¥ sector charity worker salaries. The Charity's objects as ststed in the constilution as agreed with the Charity Commission and adopted on the 17 March 2017 are.. 'To advance the Christian religion through the provision of affordable housing lo an evangelist for the purpose of holdin9 prayer meetings and distributing literature in that I￿alty lo enlighten others aboLrt the Christian rdigion, with a porticular [(￿$ on intemational students., 'The relief of financial hardship among evangelists or other Christian workers living or working in an area vthich has a university bul in which they could not otherwise afford lo reside through lack of means'lhrough the provigon ol affordable housing., To promote social indusion for the public beneffl in areas which have a university by preventing Inlemalional university students from becoming socially exduded. relieving the needs of those students who are socialty exduded and assisb'ng them lo integrate into society. For the purpose of this clause 'socially excluded, means being excluded from society, or part of society. on the grounds of rxe ethnic ongin andl¢y language., Actlvltlés During the period, International Student Mission H(KJsing Trust has.. Managed properties occupied by Friends Intemalional staff enabling them lo pursue International Studenl Minislry in Cambridge, BoumemoLrth and Canterbury Considered further opportunities lo develop projecls C¢)mmunicated with supporter5 at#JJt giving and loan or investment pos5ibililie5. In carrying out the activities of the Charity each year the Trustees have regard lo the Charity Commission published guidance on public benefit under the Charities Act 2011. The Trustees ensure that the adivrties undertaken are in line wlh the charitable objects and aims. The charity is a Public Benefit Entity. STRUCTURE, GOVERNANCE AND ￿NAGEMENT The Trustees who servgd the charity in Ihis period were.. Robert Felix lan Sanderson Alan Tower Richard Barrett Elizabeth Jones lappoinled 29 April 20221 Future trustees will be appointed after search, interview and invitation by the Trustees, having due regard to the skills. knovAedge and experience needed for the effectsve administration of the charity as laid down in Clause 10 of the charity conslrtution. ACHIEVEMENTS AND PERFORMANCE The main achievements of the charity during the peric#J have been lo.. 1. Prowde housing for Friends lntemab.cmal misgon workets in Cambn"dge, 8oumemoulh and Canterbury at an affordable rent and in appropriate locations lo execute their worf( in a most effective manner. 2. Enable friendship misson OLrtreach work towards international students, visiting scholars, language students, louris15 and permanent immigrants lo be carried out in all three centres through the provision of housing. 3. Enhance the integration of intemati1￿al students into UK swety. providing social indusion for the public benefit through suitably housed mission workers. DocuSvJn Envebpe ID.. DA3A20B2459F470E-A21$102482B74F2A Page 3 There have been significant posib.ve irKlicators that the activity of the charity could in the future extend lo further cities around the UK". • The continued idenb'ficalion of r*eds. Successful attractson and gathering of finan(ial supporters. . Successful operabon of the first three prope￿e$ owned by the charity. . Approaches from other organisations looking lo us as a potential partner and enabler. FINANCIAL REVIEW Annual Financial statements The Income of the charity was £20,180 made up principalty from individual gifts and donations of £2,500 and rental income of £16,805. R8seThgS The charity has a reserves policy lo keep a reserve of £5.000. This amount is calculated to be that required lo wind up the chanty over a six-monlh penod arKI to meet any liabilitses on closure. Free eash reserves currently sland at £110,594. Donalion$ and Loans International Sludenl Mission Housing Trust received donations from individuals and churches. Inlern8lional Sludenl Mi5si¢)n Housing Trust received loans as unsecured loans from individuals and trusts. Staff, Volunteer¥ and Support Costs The charity has no em ￿0YeeS. General volunteers ￿rrIed out all the adivitie$ and fundions of the eharity. Volunteer expenses amounted lo zero. Judy Luhombo served the charty as Adminislralor on a vc4unlary basis seconded from Friends International Ministries. FUTURE PLANS The charity plans lo continue wlh the same athvth'es as at present and continue lo extend its propety portfolio as needs. opportunitses and lun¢ts allow. Webslte Further information al)out Inlernth'onal Student Mission Housing Trust ean t* found al our website ￿h￿.1Smh0uSin rusl.or .uk This annual report and financial slalemenls V￿re approved by the trustees aThJ signed on their behaw ALAN TOWER- TRUSTEE & CHAIR Dale.. 21 November 2023 DocuSvJn Envebpe ID.. DA3A20B2459F470E-A21$102482B74F2A Pag&4. IMtERNATIONAL s[uDE￿[ MISSION HOUSING TRUST STATEMENT OF FINANCIAL ACTIWTIES FOR THE YEAR ENDING 31 MARCH 2023 Unr•stricted Restrict•d Funds Funds Totsl 2023 Totsl 2022 Not• Income frorn: Donations and legac*s 2.500 30,376 Rents re(*ivable 16.805 16.805 17,073 Investment incom8 875 875 14 Total income 20.1eo 20.180 47,463 Expenditur8 on.. Charitable activities 7.084 7.084 7,097 Totsl oXPondl¢ur• 7.084 7.084 7,097 Net Incorne before galns ¥nd lo¥¥•s 13.096 13.096 40,366 Net galn on partrfliaposal of prop8rty Nel movement in funds 5,804 13, 13.096 46,170 Total funds brought foNard at 1 April 2022 297.498 117.080 414.578 368,408 Total funds carried fo￿ard ai 31 March 2023 £ 310.594 £ 117.080 £ 427.674 414,578 All ol the above resuhs are denve(I Irom conbnuing aC1Nrt￿. The State￿nI of financial adiwt￿$ includes a119ains and10s8OS recoJTrBed abo￿ Fer￿$. The 8ttached notes forrn part ofth888 finanaal statsThnts. DocuSvJn Envebpe ID.. DA3A20B2459F470E-A21$102482B74F2A Pag• S. NTERNAT DENT hAISSI ING TR BALANCE SHEEr Unrestrictsd Re8trictsd Funds Fund5 Total 2023 Total 2022 Fixed assets Tangible fixed assets 2￿).( 643.116 843.116 843,116 Current a888ts Cash at bank and in hand D&btors 109,594 91.964 201,558 194,892 112,094 91.964 204.058 194,89 Cr8dilors' amounts falling due within one year 10 11,5WI 120.0001 121,5CK)1 1123,4301 Not ¢urrgnl a$89ts 110.594 71. 182.558 71,462 Creditors. amounts falling due after more than one year 1598.0001 1598.W)I I500.￿x)I Not a880ts £ 310,594 £ 117,080 £ 427,674 414,578 Charity Funds.. Unrestricted funds Restricted funds 12 12 310,594 310,594 117,080 297,498 117,080 117,080 Totsl fvnd• £ 310,$94 £ 117,080 £ 427,674 414,578 Approved by the board of Trustees aThJ signed on rts behaw by". fvLY ALAN TOWER TRUSTEE 8 CFWR Lrt FLh ROBERT FELIX TRUSTEE Date.. 21 November 2023 Th8 8ttach8d notes lorm part ofth8se finanaal staternents. DocuSvJn Envebpe ID.. DA3A20B2459F470E-A21$102482B74F2A P4¢ 6. INTERNATI DENT MI TR NOTES TO THE FINANCIAL STATEMENTS- 31 MARCH 2023 1 Atcounlng pollclèB al Basis of prgparntson of financial statsmgr The finanoal Stslemenls have been wepared 10 give a Jrue aThJ fai¢ ¥iew and have departed from the Chariliwd IAccoun15 an(1 Reporlsl Regulations 2(M)8 onty lo the extent wuired to ￿Ko￿￿e a and tsirf wew. Thi5 departure has invdved following Ihe Charilies SORP IFRS 1021 pu￿ls￿ on 16 Juty 2014 raiherthan the AccountirvJ and Reporting by charit￿8. Sialemenl ofRetomn*ThYed PraCt￿e effedi¥e from 1 April 2005 which has since been ¥wthd￿. The fin8nts81 slalemenl$ have been prepared under the hi$loric41 rJ)sl ¢xJnvents"on rtems retognised 81 cost or transaction value unless olheThwse stsled In the relevant nole51o Ihese accoun15. The finanaal 51alemenls have been prepared in accor(lance with the Accounting at%1 Rewrting by Charibe5". Statement of Recommended Practice applitrANe 10 chari1*$ prepariNJ their a¢xx>unts in a(xordan(* wilh Ihe Finanfaal ReportiNJ Standard 8pplicable in the UK and Republic of I￿land IFRS 1021 leffeclive 1 January 20151 issued on 16 July 2014 Ilhe Charilies SORP IFRS 10211. the FInar￿al RepDrbrNJ StsThYartl apph'cth ￿ the Urmled ltinyd(wn arKI Republic of Ire18nd IFRS 10218ThJ the Ch8ri1*$ Aci 2011. Intemalional Sludenl Mission HoLryry TrL*I Cor￿lI1u1e5 a benefflentity a5 deffi￿ by FRS 102. bl Fund accourhtlng General funds are unrestrK48d funds wfftich are 8¥8ilable lor use al the di8c¥etKJn of lh8 trU￿e88 in furtherance or the gewrBI obJeCti￿S ofthe chanty and ha¥e not been d•yated for 0lherpuws•s. eslncted funds are funds ¥¥hich are 10 be used In at￿rdan￿ vthh speafic re￿nCI10nS imposed by donors or whith have been rai8ed by Ihe charity for partrJJlar purposes. T￿ costs olraiyrrfJ and adminislenng such funds are tharyed again51 Ihe swtsfi¢ fwxl. The aim and use ofeath re$trided fur￿ 15 Sel out in Ihe nole51o the financial siaiemenl$. I Intom• Don8110ns and grfts are refieded in Ihe finanoal slalement8 in Ihe period are rec4ved. IntrA)me 18x recoverable in ￿sp￿ 01 gift 8id donaiw$ i8 ￿thI ifflo atxount in Il* ume period a$ t1￿ ￿levant donalion. Reni81 inc•me 1$ recogn￿ on • rer*ivab* For leo8ue$, eniitiemeni 1$ 18ken Os e•blw of d•ie eitr*r. Ihe th$rity i¥ Ihli probtyie has been granted. the esiale has been finalised and nolthG81ion has been made by Ihe exetsJior