OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-accounts

Page
Referenceand Administrative Detailsof theCharity, its Trustees and Advisers I
Trustees'Report 2-Lt
Statement of Trustees' Responsibilities t2
IndependentAuditor'sRepoft 13-16
StatementofFinancialActivities L7
Balance Sheet 18
StatementofCash Flows 19
Notesto theFinancial Statements 20-33

Currenttrustees: David Brown
Paul Coxall
SharonDurrant
FionaMcPhail
NigelMcQuoid
SimonPrince
(Vice-chair)
AlanHaySmith
Stephen Shaw
PaulJohnYoung
(Chair)
Charity registerednumber: 1173851
5C047797
(Charity CommissionforEngland and Wales)
(Officeof theScottish Charity Regulator)
Principalofflce: 124WellsRoad
BATH
BA2 3AH
ExecutiveDareGtors JimArmstrong,General Director
Matthew Pitts, Mission Director
Auditor: Burton Sweet Limited
TheClockTower
5 Farleigh Court
Old WestonRoad
FlaxBoudon
Bristol
BS48lUR
Bankers: NationalWestminsterBankplc
24-25 Stall Street
BATH
BA1 1QF
Solicitors: Loosemores
AllianceHouse
18/19High Street
CARDIFF
CFl2BP
InvestmentManagers: RathbonelnvestmentManagementLimited
PortofLiverpool Building
PierHead
UVERPOOL
L3TNW

or 2022theTrustees decidedtokeep the followingspecificlevelsofreserve across six op erational areas:
Operationalarea Reserweleveltobe held Minimum
reseruelevel
1 Office andOperating
Expenses
1year's equivalent expenseswillbe retained t0.84m
2 Discretionary Allocation -
MissionWorkers
2years equivalent expenses €2.05m
3 OtherMissionSupport 1year'snormal allocation E0.14m
4 Disasterand povertyrelief f250,000tobeheld t0.25m
5 Strategic projects 2years allocationtobe retained E0,84m

UnrestrictedRestricted EndowmentTotalFundsTotal Funds EndowmentTotalFundsTotal Funds EndowmentTotalFundsTotal Funds EndowmentTotalFundsTotal Funds
Funds
Funds
Funds 2022 2021
Note f,f, €€t
lncomefrom:
Donationsand legacies
Charitable activities
lnvestments
Other
2
3
4
2,467,5072,797,189
85,444
135,856
979
6,461
21,016
-
-
-
-
5,264,696
85,444
136,835
27,477
3,920 089

60,935
160,924

2,268
Total income
Expenditure on:
Charitable activities 3,617,2712,794,529 - 6,411,800 5,746,890
Total expenditure --3,6:J_27:___3-J3l_,52e_ ______-ql1-1,8gg_:!&q!gg=
Netincome(expenditure) before
investment gains/(losses)
(e22,003)24,655
-
(8s7,348)(1,602,674)
Netgains/(losses)oninvestments (493,7e8)(5486) (21,267)(520551) 567,202
Netgains / (losses) oninvestmentproperty revaluation
Gain onsale of investment property
Netincome/(expenditure) I (13Bs3Ol) 1eJ6e (r\r6n (138?€rr)(1p03,r?r)
Transfers betweenfunds 20 (66)
66
Netmovement between funds (1385^86r) 1923s (rLr6n (138?^8rr)(1O03,r?a
Totalfundsatstartofyear 20 5,833,051616,519 171,3416,620,911 7,624,883
Totalfundsatendofyear 20 -11!t9t-----a9!J!a ---t!9p21---!t!9!1L--!f?9f11-

2022 2021
Note e
Fixedassets
Tangibleassets
lnvestmentproperty
lnvestments
13
14
15
637,056
30,000
3,908,854
654,775
5,855,143
Iotalfixed assefs 4,575,910 6,509,918
Current assets
Debtors 16 951,916 324,516
Cash atbank andin hand 129,048 178,861
Iotalcunent assets 1p80864 503,377
Liabilitles
Creditors:amounts falling
duewithinoneyear
17 (423,862) (392,384)
Netcurrentassets /(liablllties) 657,102 110,993
Total assets less currentliabilities 5233J1' -.62q911
Netassets 5,233,012 ___qg?q€!_
Funds
Unrestrictedfunds
Generalfunds
Designated funds
21
21
764,520
3,682,664
1,948,294
3,884,757
4,447,184 5,833,051
Restrlctedfunds 21 635,754 616,519
Endowment funds 21 150,074 171,341
Totalfunds JZ33$r 6,620,911

2022 2021
Note E
Netcash outflow from operating actlvities 18 (1,5s2,194) (2,224,780).
Non-operationalcashflowr:
lnveetlngactivitier
Paymentsfortangible fixed assets (60,192) (71,368)
Movementincashheld asinvestments (143,795) (77,460)
Purchaseofinvestments (1,320,059) (4s4,e41)
Proceeds fromealesof investments 2,889,592 2,309,635
lnvestmentincome 136 835 160,924
Proceeds fromsaleof investment property 72,500
I50r381 1839210
Netcashinflod(outflowlfor the year 1e ___49e1l-). __eryg!).

lncomefrom: Donations and legacies
Unrestricted
Restricted
TotalFunds
Funds
Funds
2022
e
f,
Assembly gifts 357,700
596,684
954,384
lndividualgifts 363,259
1,'180,014
1,543,273
Other collective gifts 166,446
408,47s
574,919
Trusts 206,765
601,122
807,887
Legacies 1,373,337
10,896
1,384,233
2,467,507 2,797,1895,264,696
UnrestrictedRestrictedTotalFunds
Prioryear Funds
Funds
2021
Assembly glfts
lndividualgifts
Other collectivegifts
Trusts
Legacies
f,tf,
86,388 575,01s661,403
18E,0591,228,76'.t1,416,820
25,643 499,157524,800
34,387 583,86s618,252
539,482 159,332698,814
__al!€!e___E,0$J-q8_,r,g?a,aqg

lncome from:Charitableactivities
UnrestrictedRestricted TotalFunds
Funds Funds 2022
Publishing 8f,€
85,444
- 85,444
85,444 - 85,444
Prioryear Unrestricted
Restricled
TotalFunds
Funds Fundc 2022
t
Publishing 60,863 72 60,935
_a!.999__A______e9&!
4 lncomefrom: lnvestments
UnrestrictedRestricted TotalFunds
Funds Funds 2022
Dividends
lnterestreceived
[[E
124,396
412

942
37

125,338

449
Rentfrominvestment property 1'1,048
-
11,048
_l3gEg9-_929__1a0E35_

Unrestricted Restricted
TotalFunds
Prloryear Funds Funds
202'l
f,
e
Dividends 159,842 160,830
988
lnterestreceived 90 94
4
159,932
992
160,924
Expenditure on: Charitable activities
Direct
Costs
Grantfundlng
of activities
SupportTotalFunds
Costs
2022
Giftsto organisations
Giftsand allocations to individuals
Publishing, mobilisation&equipping
Membercare
(Note6)
EE-
1,862,808
-
3,226,391
306,00E
:
(Note 7)
tt
172,5702,035,378
172,57A3,398,961
514,571820,579
'156,882155,882
306,0085,089,199 1,0'16,5936,4.11,800
Direct
Costs
Grantfunding
of activities
SupportTotalFunds
Costs
2021
Giftsto organisations t€- (Note6)
1,534,176
(Note7)
TC
152,4661,686,642
Giftsand allooations to individuals
Publishing, mobilisation&equipping
Member care
-
201,212
3,113,337 152,4663,265,803
4U,627
655,839
138,606138,606
2A.2124S4?"513 8r8J65
5J463r0

The totalgrantsawardedtoinstitutionsduringthe yearwasas follows: 2022
l
2021t
Bethesda Hospital 67,975 60,321
GospelFellorrushipTrustoflndia 42,13E 59,330
HarvestMinistries lnternational 24,447 69,313
Ko$ci6lWolnych ChzeScijanZbdrWBytomiu (l(/VCH) 50,000
MoshiChristian Children'sCentre 54,605 41,932
PhiladelphiaTrust 153,814 5,120
ProjectAngola 16,010 155,683
Total ofgranls tootherorganisations(<€50,000in current orprior year) 1,45/,219 1,142,477
Totalgrantcommitmentsto individuals 3,226,391 3,113,337
Totalgrantrcommitmentsmade in theyear 5"089J99 4,647,513
Reconclllatlonofgrantspayable 2022 2021
f, f,
Commitmentsbroughtfonrard 156,109 390,240
Netcommitments madeinthe year 5,089,199 4,U7,513
Paymentsduringtheyear (5,012,136) (4,881,644)
Commitmentscarried forward and payablewithinoneyear Note17 ___233112_ ___l-Egl-gg_

Supportcosts
Total Total
2022
c8
2021
Staffcosts
Rates,light,heatandinsurance
Cleaning,decorating and repairs
Travel -Trustees
Travel -Other
Officecosts
Governancecosts
Equipmentrenewalsandmaintenance
ProfessionalFees
Bankcharges
Sundryofficeexpenses
Depreciation
(Note10)
(Note 8)
516,879
41,712
65,349
3,032
76,934
36,364
26,186
76,600
46,744
11,569
37,313
77,911
530,793
37,622
13,632
1,537
36,810
18,173
20,790
78,148
67,672
10,597
13,271
69,120
__l-uqEg!_____99q&!_

Governance costs
Total Funds TotalFunds
2022
f,
2021I
Auditor'sfees - foraudiiservices 13,398 16,440
- for otherservices 4,272 300
Trustee meetings 7,246 2,4-16
Advisory group 1,220
Strategic planning andprojects 50 1,634

Thisisstated aftercharging:
2022 2021
Auditor's remuneration -forauditservices f,t
13,398
16,440
-forother services 4,272 300
Trustees'travel,hotel,meals, meetingandtrainingexpenses 8,70',1 1,438
Depreciation _lJ,s1l___ag.lzq-

The aggregate payrollcosts were.
2022 2021
ee
Wages & salaries
Socialsecuritycosts
Pension contributions
437,495
35,017
44,367
447,100
33,901
49,792
__l-1a.qzg_____999J99_

l2 Statementof Financial Activities comparative figures Statementof Financial Activities comparative figures
UnrestrictedRestricted EndowmentTotalFunds
Fortheyearended31December202l Funds
Funds
Funds 2021
€f, €€
lncomefrom:
Donationsandlegacies
Charitable activities
lnvestmentincome
873,9593,046,130
60,863
72
'159,932
992
-
-
-
3,920,089
60,935
160,524
Otherincome 1,296
972
- 2,268
Total income 1.096^0503^048J66 - 4,144216
Expendltureon:
Charitable activities 2,667,5833,079,307 5,746,890
Tota!expenditure
Net income/ (expenditure)beforeinvestmentgains/ (losses) (1,571,s33)(31,141) - (1,602,674)
Netgains / (losses) on investments 547,372
1,348
18,482 567,202
Gainonsale ofinvestmentproperty 31,500 - 31,500
Netincome/(expenditure) fortheyear (rrr^661) (rq?r3)
18382
(1.003,r?a
Transfersbetweenfunds 523,951(523,9s1)
Netmovementinfunds (46q71o)(553t?44) 18A8' (1.0038?r)
Total fundsatstartofyear 6,301,7611,170,263'152,859 7,624,883
l3 Total fundsat end ofyear
Tangible flxed assets
--i,q!!pq]-----q!.q!- --lzlnll----q,q4s!-
Freehold
FreeholdFixtures&Computerproperty
Property Fittingsequipmentimprovements
€€f€f
Total
Cost
At1January2022
Additions
811,112 30,115 196,44024,659
-
3,551
3,687
52,954
1,062,326

60,1S2
At31December2022 --3!t12-----!!pq.-^9,12--___Z€1!---:l2Z!r8
Depreciation
Al1January2022
Chargeforthe year
276,021 24,100
98 976
16,200
4,879
52,592
8,454
4,240

407,551
77,911
At31December2022 ,sz2r1 ,EB?g 151"568 116% 48516'
Netbook value
At31December2022 ____919891_ *JSj__$899_ _e.g]g*A!Z.q!g_
At31December2021 ___*-i31!9L _9,U9 *9ZJA4_ _rcZq!___6s!fJ-9_

lnvestments
Total
Market value f,
Al1January2022
Purchase ofinvestments
5,E55,143
1,320,059
Saleof investments (2,889,5s2)
Realised andUnrealisedgains/losses (520,551)
Movement incashheld 143,795
At31December2022 __ffQ!,aE4*
Historicalcost "g
At theyear endthe charityhadthe following spread of investmentsby nature:
2022 2021
t I
Lr'sledrnyeslments
Fixedinterest 499,858 1,O19,421
UKequities 1,400,941 1,670,059
Overseasequities 'l,120,346 1,803,172
Alternativeholdings 859,898 1,327,519
Cashheld aspartofthe investment portfolio 27,811 34,972
s,908,854 5,855,143
Debtors
2022 2021
GC
Duein less thanone year:
Prepayments and accruedincome
Tax reclaimableunder Gift Aid
Legaciesreceivable
Otherdebtors
30,304
36,084
10,948
14,115
873,728240,155
36,936
34,162
951,915 324.516

Creditors: amountsfallingduewithinone year
2022 2021
t f
Trade creditors
Grantspayable
Other taxationand social security
Accruals and deferredincome
Othercreditors
(Note 6) 38,627
233,172
31,559
101,450
19,054
78,025
156,109
32.759
89,531
35,960
__423.862___:A9?J94

2022
If
2021
StatementofFinancialActivities:Netmovementintunds (1,387,899)(1,003,972)
lnvestment income
Depreciation
Losses/(gains) oninvestments
(136,S35)
77,911
520,551
(160,e24)

69,120
(567,202)
Decrease/ (increase)indebtors
(Decrease)/increaseincreditors
(627,400)
3',t,478
(227,944)
(302,358)
Gainfrom saleofinvestmentproperty - (31,500)
Gain onrevaluationofinvesimentproperty (30,000)
Netcash(outflow[inflowfrom operating activities -ffeffq--A224JNL
Analysis of changes in cash durlng the year
2022 2021 Change
t E f,
Cash at bankand inhand 12e,046,__]]q.qql (49,813)
2021
te
2020 Change
e
Cash at bankandin hand 178,861464,3s1 (285,4e0)

For the yearended3lDecember 2022
AtlJan Galns/ At31Dec
2022
e
lncome
t
Expenditure
I
Transfers
t
(Losses)
t
2022
Restrictedfunds
Missionary 5,002 1,224,383
(1,130,3s7)
s9,028
Personalneeds 5,000 1,486,308
(1,488,726)
2,582
Beneficiary holding 423,463 40,1'16 (117,964) 376 345,99'l
Missionaries'Children'sFund 27,685 67,435 (45,6E2) (310) 49,128
Ramsden fund
MissionaryFurloughfund
55,324
33,32s
n:, (1,000) ts,+asl 49,780
33,325
Ruth HadleyMemorial fund 66,720 (10,800) 55,920
_616,519 2,819,184(2,794,5291
66
(5,485) 635,754
Unrestrictedfunds
Generalfunds (mergeroffunds) 1,948,294 5s9,021(1 ,164,009) (114,s88) (463,798) 764,520
Interlink- legacy charity fund
First Serve
10,514
7,378
23,144 (50372) 25,000 -
-
10,5t4
5,150
Suspense
Publishingdepartment
5,719
40,000
81,166 (1804s5) (5,71e)
99,289
- 40,000
AH Boulton fund 2,780 (2,780)
Mrs H MacleanTrust 868 (868)
Missionarywork 190,264 '1,289,85111,112,143) (140,325) - 227,647
Legacyequalisation
Medical
Special projects
Mlnistrysuppori
2,000,000
50,000
86,161
10,000
(2,s4s)
20,000
(7o,12o)
(87,660)
72,665
67,660
-
-
-
-
2,000,000
50,000
86,'161
10,000
Training
Nationalworker
Povertyandrelief fund
Strategic initiativefund
20,000
40,000
258,289
966,432
-
11,4'13
607,070
102,500
(107,374)
(120,860)
(57O,441)
(150,015)
107,374
109,447
(216,821)
-
-
-
-
20,000
40,000
294,918
702,096
Equipmentand maintenance 200,000 - (3,8221 - 196,178
Endowment funds 5r833^OSr
'^615168(3O1?'2?1)
*Ul
(463r?9S) 4,447lfl4
Mrs H MacleanTrust
AH Boulton Fund
40,426
130,915
(5,062)
(16,20s)

35,364
114,710
_J1"34L (.21,2671 150,074
Totalfundc 6,620,911 5,514,452(6,411,900)
-
(490,551) 5,233,012

Fortheyearended31December202 l
At1Jan Gains/ At 3'lDec
2021
I
lncome
t
Expenditure
t
Transfers
t
(Losses)
f,
2021
E
RestrictedFunds
Missionary 3,862 1,440,7'.!5 (1,454,065) 14,490 5,002
Properiy 524,309 (20,641) (503 658)
Personal needs 1,322 1,533,425 (1,s46,I20) 16 s73 5,000
Beneficiary holding 422,988 17,465 (16,990) 423,463
Suspense 59,636 (45s1e) (838) (13,27e)
Missionaries'Children'sFund 57,774 9,073 (1,2s5) (37 867) 27,685
First Serve 7,122 (7j22)
Relief 5,436 (5,436)
Ramsden fund 52,989 987 1,348 55,324
Missionary Furlough fund 34,825 (1,500) 33,325
Ruth Hadley Memorial fund 92,o'20 (25,300) 66,720
1J?0263 __lp4qrcg_ (3^O?r3oi)l5r3,r"5u 1348 616"51e
UnrestrictedFunds
Generalfunds (mergerof funds) 806,032 5s0,845(789 207) 990,276 3S0,348 1,948,294
Echoes of Service -legacycharity fund
lnterlink-legacy charity fund
First Serve
47
10,459
5,229
\274)
10,360(22,982)
(47)
(4,e00)
20,000
-
-
10,514
7,378
Suspense 5,719 - 5,719
lnvestmentproperty
Publishingdepartment
Unrealisedrevaluation gains/(losses)
AH Boulton fund
41,000
52,643
70s,395
670
67,722(165,971)
z,sst
aae
(41,000)
85,606
(8s3,91e)
(4,072}.
-
188,524
40,000

_
Mrs H MacleanTrust 1,103 788 (1,8e1)
Missionarywork 903,851 351,529 (1,065,116) - 190,264
Legacy equalisation
Medical
2,000,000
50,000
4,905
(78,881)
73,976 -
-
2,000,000
50,000
Special projecls
Ministrysupport
90,561
10,000
-
(4,400)
(1,450)(54,593)
so,oi: -
-
86,161
10,000
Training
Nationalworker
Povertyandrelief fund
20,000
40,000
250,000
-
450
103,11E

(44,587)
(121,000)
(94,829)
44,587
120,550
-
-
-
20,000
40,000
258,289
Strategic inittative fund 1,120,000 - (153,568) - 966,432
Equipmentandmaintenance 200,000 - (73,023) 73,023 - 200,000
61
1^096^050
(r.66?sa3) 5231951s?8,u, 5p33"0s1
EndowmeniFunds
Mrs H MacleanTrust
AHBoulton Fund
35,93'1
116,920
-
-
4,495
13,987
40,426
130,915
Totalfunds 15rS59-
--
-
--Lq?Id!!--Zta":]!rlq!U---"j-
171,341
---q!!le?-:gg4gi-

Asat 31 December2022
Tangible fixed assets
lnvestments
Other net assets
RestrictedUnrestrictedEndowmentTotal
funds
funds
funds
e[[e
-
637,056
637,056
49,7803,709,000150,0743,908,854
585,S74 101,128
-
687,102
635,?544n4?JU
150^0?45133^01'
Asat3lDecember2021 RestrictedUnrestrictedEndowmentTotal
funds
funds
funds
€Ee
E
Tangible fixedassets
lnvestments
Other netassets
-
654,77 5
654,775
629,6165,054,186171,3415,855,143
(13,097)124,Oeo
-
110,993
ql_4,51e_!E!!.a!-1___1J1,311*!,Azqf]L