Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 INTERNATIONAL STUDENT MISSION HOUSING TRUST Registered Charity Number: 1172542 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2025
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 INTERNATIONAL STUDENT MISSION HOUSING TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2025 Contents Pa Legal and administrative information Report of the Trustees Statement of financial activities Balance sheet Notes to the financial ststements 6-9 Independent examiner's report 10
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 Page1. INTERNATIONAL STUDENT MISSION HOUSING TRUST Registered office.. The Rowan Centre. All Nations Christian College, Easneye, Ware, Herts SG12 8LX Administrative details of the cha the trustees and advisors The Trustees present their report together wth the accounts of the charity for the period ended 31 March 2025. The followng trustees served from 1 April 2024 and up to the date of the approval of the accounts=. Alan Tower (Chair) Richard Barrett Robert Felix Elisabeth Jones (resigned 1 July 2025) lan Sanderson Registered Charity Number 1172542 Principal address The Rowan Centre All Nations Christian College Easneye Ware Herts SG12 8LX Bankers Lloyds Bank plc CSU Chadton Place Charlton Road Andover Hants SP10 1RE Independent examiner Griffin Stone Moscrop & Co. 21-27 Lamb's Conduit Street London WC1N 3GS Solicitors EIIis-Femior & Negus 2 Devonshire Avenue Beeston Nottingham NG9 1BS
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 Page 2. INTERNATIONAL STUDENT MISSION HOUSING TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Objectives The objects are to address the problem of Christian mission workers who need to be located for their work in central city areas with expensive property beyond their reach to buy or rent on typical third- sector charty worker salaries. The Charity's objects as stated in the constitution as agreed wth the Charity Commission and adopted on the 17 March 2017 are= 'To advance the Christian religion through the provision of affordable housing to an evangelist for the purpose of holding prayer meetings and distributing literature in that locality to enlighten others aboLrt the Christian religion, with a particular focus on international students., 'The relief of financial hardship among evangelists or other Christian workers living or working in an area which has a university but in which they could not otheNise afford to reside through lack of means 'through the provision of affordable housing., 'To promote social inclusion for the public benefrt in areas which have a university by preventing international university students from becoming socially excluded, relieving the needs of those students who are socially excluded and assisting them to integrate into society- For the purpose of this clause'socially excluded, means being excluded from society, or part of society. on the grounds of race andlor ethnic origin andlor language., Activities The primary activities of the Charity are.. 1. Provide housing for Friends International mission workers in Cambridge, and elsewhere as and when agreed, at an affordable rent and in appropriate locations to execute their work in a most effective manner. 2. Enable friendship mission outreach work towards intemational students, visiting scholars, language students, tourists and permanent immigrants to be carried out in all selected centres through the provision of housing. 3. Enhance the integration of international students into UK society. providing social inclusion for the public benefit through suitably housed mission workers In carying out the activities of the Charity each year the Trustees have regard to the Charity Commission published guidance on public benefit under the Charities Act 2011. The Trustees ensure that the activities undertaken are in line wrth the charitable objects and aims. The charity is a Public Benefit Entity. STRUCTURE, GOVERNANCE AND MANAGEMENT The Trustees who Seed the charity in this period were= Robert Felix lan Sanderson Alan Tower Richard Barrett Elisabeth Jones (resigned 1 July 2025) Future trustees will be appointed after search. interview and invrtation by the Trustees, having due regard to the skills, knowledge and experience needed for the effective administration of the charity as laid down in Clause 10 of the charity consb'tution. ACHIEVEMENTS AND PERFORMANCE The main achievements of the charity during the period have been to.. Management of the Cambridge property including the change of tenancy when the new Centre Team Leader arrived.The sale of a Boumemouth property to a Friends International Bournemouth staff worker.
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 Page 3. INTERNATIONAL STUDENT MISSION HOUSING TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The purchase of a second property in Cambridge for a different Cambridge Friends International staff worker. There have been significant positive indicators that the activity of the charity could in the future extend to further cities around the UK= The continued identification of needs. Successful attraction and gathering of financial supporters. Successful operation of the first four properties owned by the charity. Approaches from other organisations looking to us as a potential partner and enabler. FINANCIAL REVIEW Annual Financial statements The income of the charity was £38.124 made up principally from investment income of£8,164, legacies of £15,000 and rental income of £14.960. With expenses of£10.330 and £5,008 profit on disposal of a property, there is an overall surplus of £32,802. Reserves The charity has a reseNes policy to keep a reserie of £5.000. This amount is calculated to be that required to wind up the charity over a six-month period and to meet any liabilities on closure. Free cash reserves currently stand at £255,811, which after taking account of unrestricted liabilities feeds into unrestricted reserves of £98,211 so sufficient funds are held to comply with the reserves policy. The total funds at the balance sheet date are split between unrestricted funds totalling £98,211 and restricted funds of £377,328, wth further infomiation provided in note 13 to the financial ststements. Donations and Loans Intemational Student Mission Housing Trust received donations from individuals and churches. Intemational Student Mission Housing Trust received loans as unsecured loans from individuals and trusts. Staff, Volunteers and Support Costs The charity has no employees. General volunteers caffied out all the activities and fvnctions of the charity. Volunteer expenses amounted to zero. Judy Luhombo served the charity as Administrator on a voluntsry basis seconded from Friends Intemational Ministries. FUTURE PLANS The charity plans to continue with the same activities as at present and continue to extend its property portfolio as needs, opportunities and funds allow. Website Further information about International Student Mission Housing Trust can be found at our website www.ismhousin trust.or This annual report and financial statements were approved by the trustees and signed on their behalf fvLr ALAN TOWER- CHAIR OF TRUSTEES Date.. 511112025
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 Page 4. INTERNATIONAL STUDENT MISSION HOUSING TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 MARCH 2025 Unrestricted Restricted Funds Funds Total 2025 Totsl 2024 Note Income from: Donations and legacies 15,000 15,000 Rents receivable 14.960 14,960 15,331 Investment income 8,164 8,164 4,366 Total income 38,124 38,124 19,697 Expenditure on: Charitable activities 10,330 10,330 12,320 Totsl expenditure 10,330 10,330 12,320 Net income before gains and losses 27,794 27,794 7,377 Net gain on disposal of property Net income 5,008 5,008 7,686 15,063 32,802 32,802 Transfers between funds 1270,327) 1237,5251 270,327 Net movement in funds 270,327 32,802 15,063 Total funds brought forward at 1 April 2024 335,736 107,001 442,737 427,674 Total funds carried forward at 31 March 2025 £ 98,211 £ 377,328 £ 475.539 £ 442.737 All of the above results are derived from continuing activities. The slalement of financial activities indudes all gains and losses recognised in the above periods. The attached notes form part of these financial Statements.
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 Page 5. INTERNATIONAL STUDENT MISSION HOUSING TRUST BALANCE SHEET Unrestricted Restricted Funds Funds Total 2025 Total 2024 Note Fixed assets Tangible fixed assets 994,728 994,728 791,953 Current assets Cash at bank and in hand Debtors 255.811 255,811 365,734 255.811 255,811 365,734 Creditors.. amounts falling due wthin one year 10 {1,6001 {50,0001 {51,6001 {26,5501 Net current assets 254.211 {50,000} 204.211 339,184 Creditors.. amounts falling due after more than one year 1156.000) 1567.400} 1723.400} 1688,4001 Net assets 98,211 £ 377,328 £ 475,539 442,737 Charity Funds: Unrestricted funds Restricted funds 12 12 98,211 98,211 377,328 335,736 107,001 377,328 Total funds 98.211 £ 377,328 £ 475,539 £ 442,737 Approved by the board of Trustees and signed on its behalf by". ALAN TOWER TRUSTEE & CHAIR rol•L¥I FLtsF ROBERT FELIX TRUSTEE 511112025 The attached notes form part of these financial statements.
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 Page 6. INTERNATIONAL STUDENT MISSION HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS- 31 MARCH 2025 1 Accounting policies al Ba$is of proparation of financial statements The finanal statements have been prepared to give a MTue and fairf wew arHJ have departed from the Charities IAccounls and Report51 Regulation5 2008 lo the extent required lo provide a Irue and tsirf view. This departure has involved followiThJ the charib.es SORP IFRS 1021 publisheil in October 2019 rather than the Accounting and Reporting by Charibes.. Stalement of Recommended Practice effective from 1 April 2005 vknich has Sin been ¥Mthdravm. The finan¢ial slalemenls have been ppared under the historical Cost ¢onvenlion wytt) rtems cOgnised al ¢osl or transaction value unless other¥%ise staled in the relevant notes to Ihese accounts. The finanaal statements have been prepared in accordance 1th the Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charitie5 preparirvJ their accounts in accordance wth the Finanual Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 leffe¢b"ve 1 January 20191. the Finanual Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. International Student Mission Housing Trust constitutes a public benefit entity as defined by FRS 102. bl Fund accountlng General funds are unrestricted funds %%thich are available for use at the discretion of the trustees in fvrtherance of the general objectives of the chattty arvj vthich have not been designateil for other purposes. Restricted funds are funds ¥thich are to be used in accordan ith SfiC restrictions imposed by donors or ich have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fvnd. The aim and use of each restricted fvnd is set out in the notes to the finan¢ial slalemenls. cl Income Donations and gifts are rellected in the financial statements in the Feriod in vknich they are received. Income tsx recoverable in re$t of gift aid donations is LlJht into account in the same pen as the levant donation. Rental income is recognised on a receivable basis. For legaaes, entiuement is taken as the eartier of the date on vknich eIr.. the charity is awdre that probate has been granted, the estate has been finalised and notificabon has been made by the execuiorlsl to the charty that a distribution wll be made. or a distribution is re1ve from the estate. ReIpt of a legaw, in kno1e or in part. is only ¢onsidered probable %then the amount can be Measu reliably and the Charity has been notified. or the charity is aware of the granting of probate, and the teria for incon recognthon have not ken met, then the legacy is treated as a conts'ngent asset and disdosed if material. Gffts in kirKJ donated for distribLth'on are induded at valuation and recognised as income Nthen they are distribLrted to the projects. dl Exp¢nditur¢ Expenditure is recognised on(E Ihere is a legal or conslmctive obligation to transfer economic benefit to a third party, rt is probable that a transfer of economic benefits wll be required in settlement, and the amount of the obligation can be measured reliabty. Expenditure on charitable adivrties is expenditure In(¥r on the ¢hatrty's operations. incJuding support costs anLI costs relating to the govemance of tharity apporfiowl to charitable activities. Support costs are those costs IncUed directly in support of expenditure on the objects of the charity. Goveman costs are those costs incurred in connection with administration of charity and compliance with conslilutional and slalutory requ1MentS. l expendf(ure is inclusive of irrecoverable VAT.
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 Page 7. INTERNATIONAL STUDENT MISSION HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS- 31 MARCH 2025 Accounting policies {continuedl el Tangible fixed assets and depreciation All assets costing more than £1,000 are capitalised. Tangible fixed assets are carried at cost or valuation, net of depreryalion and any provision for impairment. Depreciation is not charged on freehold land. Depreaation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value. over Iheir expected useful lives. Since the market value of leasehold and freehold properties are not expected to fall materially below net book value, no depreciation has been provided. el Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. el Cash at bank Cash at bank includes cash and short leTh highly liqu investments wth a short maturity of three months or less trom the date of acquisition or opening of the deposit or similar account. Liabilities Liabilities are recognised when there is an obligation at the balan sheet date as a result of a past event, it is probable that a transfer of economic benefit wll be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are renised al the amount that the charity antiPate5 It will pay lo settle the debt or the amount it has reiVed as adVand payments for the goods or services it must provide. gl Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic finanaal instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value with the eXpIlOn of bank loans which are subsequently measured at amortised cost using the effective interest method. The charity is funded by a number of loans from individuals that are interest free and whose repayment ternis are flexible other than being not due for repayment wthin one year. Accordingly detemining an accurate net present value of these loans at the balan sheet date, as required by the SORP, is considered by the trustees to be an impractical requiremenL Instead it is considered that a more true and fair view is given in the financial slalements by carrying the loans at the actual nominal value that wll be payable when the loans are repaid and further disclosure of this fact is made in the notes. h) Accounting eslimates and areas of judgment Estimates and judgements are continually evaluated and are based on historical experien and other factors, including expectations of future events that are believed to be reasonable under the circurnstsnces. The charity makes estimates and assumptions conceming the fLrture. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 Page 8. INTERNATIONAL STUDENT MISSION HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS- 31 MARCH 2025 Continued Donations and legacies Unrestricted Restricted Funds Funds Total 2025 Total 2024 Note Income from donations and legacies Legacies Gifs in kind 15.000 15,000 Total donations and legacies 15.000 15,000 Gifts in kind The leasehold propety donated in 2018 was valued at the estimated market value at the time the gift was made. The property was sold in July 2024. Expenditure on charitable activities Unrestricted Restricted Funds Funds Total 2025 ToLIl 2024 Expenditure on charitable activities Legal and professional costs Insurance, council tax and sundry property costs Independent examination 2.595 6.125 1.610 2,595 6,125 1,610 1,387 9,383 1,550 Total expendilure 10.330 £ 10,330 £ 12,320 In Ihe comparative period £12,320 was unrestricled expenditure. Trustees No travel and subsistence expenses were paid to trustees to enable them to attend meetings and generally carry out their govemance responsibilities (2024 = nil). No trustee received any remuneration or benefits. Analysis of staff costs No staff were employed by the charity. Tangible fixed assets Leasehold Property Freehold Property Totsl Cost Al 1 April 2024 Addilions in the year Disposals in the year 200.oc 402,775 (200.000) 591.953 791.953 402,775 (200,0001 At 31 March 2025 402.775 591,953 994,728 Depreciation At 1 April 2024 and 31 March 2025 Net book value At 31 March 2025 £ 402.775 £ 591,953 £ 994,728 Net book value At 31 March 2024 £ 200.000 £ 591,953 £ 791,953
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 Page 9. INTERNATIONAL STUDENT MISSION HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS- 31 MARCH 2025 Conts'nued 8 Cash at bank and in hand 2025 2024 Cash al bank and in hand 255,811 365,734 £ 255,811 £ 365,734 g DebtOf5 other debtors 10 Creditorn: amounts falling due within one year Accruals Loans 1,600 50,000 1,550 25,000 51,600 £ 26,550 11 Creditors: amounts falling due aftermore than one year Loans 723,400 688,400 £ 723,400 £ 688,400 The charity owes money in respect of 1912024 = 171 loans provided to IL Al loans are unsecured and bear no interest. They are repayble al malurty or on the sale of a property. Due to the fad that we cannot predict with any rtaInty when the capitsl will be repaid it is not possible lo detemiine an appropriate net present value. Accordingly il is considered that the loans should be carried at the amounts received by the chanty net of any repayments already made. 12 Statement of funds Details of material funds held and movements during the current reporng period Fund balances brought forward Fund balances carrd forward Income Expenditure Transfers Unrestricted funds General fund 335.736 43,132 10,330 (270,327) 98,211 Restricted funds Cambridge properties 107,001 270,327 377,328 Total funds £442,737 £ 43,132 £ 10,330 £ 475,539 The Cambridge propetties fund is available lo repay loans reIved in relation to the ao]uisilion of properties, the second property being acquired in the year ended 31 March 2025. 13 Anatysis of net assets between funds Unrestricted Restricted Funds Funds Total 2025 Tangible fixed assets Current assets Creditors due within one year Creditors due after more than one year 994,728 994,728 255,811 150,0001 1723.4001 255.811 11,6001 {156.0001 150,0001 1567,4001 98,211 £ 377,328 £ 475,539
Docusign Envelope ID." 8DDB05DF£37144C4-8888-BE163010A685 Page 10. Independent Examiner's Report to the Trustees of International Student Mission Housing Trust I report to the chartty trustees on my examination ofthe aUnts of the tharity for the year ended 31 March 2025. Responsibilities and basis of report As the charty's trustees you are resnsIble forthe preparation of the accounts in accordance wth the requirements of the Chariti'es Act 2011 {Ihe Act,). I report in respect of my examination of the chartty's OUnts carried ¢JJt under section 145 ofthe Act and in carrying out my examination I have foll¢Jwed all the appluble Directions given by the Charity Commission under section 14515)Ibl of the Act. Independent examiner's statement I have completed my examinath)n. I confimi that no material matters have come to my attent'on in connection wrth the examination giving me cause to believe that in any material respect 1. accounting records were not kept in respect ofthe chanty as required by section 130 of the Ac( or 2. the accounts do not accord wth those records: or 3. the accounts do not comply wth the applicable requirements conMIng the fomi and content of accounts set out in the Charits'es (Accounts and Reports) Regulth'ons 2008 other than any requirement that the accounts gwe a 'true and fair view is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection wth the examination to which attention should be drawn in this rewrt in order to enable a proper understanding of the ac£ounts to be reached. Rhard Hill FCA GRIFFIN STONE MOSCROP & CO 21-27 Lamb's Conduit Street, London, WC1 N 3GS CHARTERED ACCOUNTANTS Date.. 511112025