OpenCharities

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

2024-12-31-accounts

Interserve International Fellowship Trustees Annual Report and Unaudited Financial Statements Year ended 31 December 2024

Charity registation - 1187558 Company number - 11599413

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

Contents

Trustees annual report 4
Our nature, charitable purpose & approach 4
Strategic Report 5
Financial review 5
Principal Risks and Uncertainties 6
Governance and management structures 7
Reference and administrative details 7
Statement of Board of Trustees’ responsibilities 8
Independent examiner’s report 10
Statement of fnancial activities 12
Balance sheet 13
Statement of cash fows 14
Notes to the fnancial statements 15

Charity number 1187558 Company number 11599413

3

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

Trustees annual report

The Board of Trustees, who are also directors of the Charity for the purposes of the Companies Act, and trustees for charity law purposes, submit their annual report and the financial statements of Interserve International Fellowship for the year ended 31 December 2024.

The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, including the Charity Act 2011, as well as the requirements of the Charity’s governing document and the provisions of the ‘Charities SORP (FRS 102) - 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 (FRS 102) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.

Our nature, charitable purpose & approach

The Interserve International Fellowship charity joins with independently registered “Interserve” organisations in fourteen countries and several partnering agencies in other countries to form an alliance (broadly referred to as ‘the Fellowship’) seeking to positively affect quality of life wherever we serve. Members of the Fellowship serve among the peoples of Asia and the Arab World in the geography of Asia and the Arab World as well as these same peoples who live in diaspora elsewhere. We are united in our diverse contexts, and our diverse service efforts, by our vision, purpose, and values which are articulated in our foundation documents.

Our Vision:

To see lives and communities transformed through encounter with Jesus Christ.

Our Purpose:

To make Jesus Christ known among the peoples of Asia and the Arab World.

How We Work:

The Interserve International Fellowship charity oversees the work of Interserve around the world. The International Leadership Team provides overall leadership to the entities and ministry teams with which members of the Fellowship are associated.

Regional Directors serve in distinct regions assisting local teams to craft relevant ministry plans, ensure members are healthy and cared for, and provide essential input from those local ministry dynamics to the international leadership body.

Functional Directors serve across the Interserve Fellowship to provide resources and tools generally, including leadership development, HR best practices and guidance, focus on emerging trends and ministry development, communication internally across the fellowship as well as coordinating communications externally through member organisations.

Supporting these roles, the Charity provides:

The International Leadership Team is led by the International Director who is accountable to the Interserve International Council which includes the Charity’s Board of Trustees.

The global fellowship of Interserve is ‘evangelical’ in its understanding and practice of the Bible’s teaching. It works for, with and through the local church in roughly 50 countries. Interserve works ‘wholistically’, or in an integrated way,

Charity number 1187558 Company number 11599413

4

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

serving the whole person in the whole context of life – i.e. body, mind and spirit, within a social context and culture – the whole of life being subject to the whole nature of God and His goodness.

We do this through:

The Trustees have reviewed the guidance issued by the Charity Commission with regard to the public benefit arising from the activities undertaken by the Charity. The Trustees are satisfied that the services provided by the Charity fully meet the principles of public benefit as set out in the Charity Commission Guidance.

Strategic Report

Throughout 2024 the work of the Interserve International Fellowship continued to advance the purposes of Interserve and seek greater understanding for, and implementation of core dynamics that are being developed around emerging realities in the places of Asia and the Arab world.

International Events

In 2024 the international meeting schedule was moderate compared to 2022 and 2023. The International Leadership Team and Council held their meetings on a routine schedule.

International Leadership Succession

The International Council and the Fellowship at large, having been given notice that the International Director would not seek another term in that role, implemented a succession process. Interested candidates were solicited, applications received, and interviews held – all culminating in the appointment of two individuals to take over that role in March of 2025. The incoming International Directors reside on opposite sides of the globe (one in England, the other in Australia) which promises to usher in a new season in terms of how the responsibility of the ID is fulfilled.

Communicators Forum

Interserve gathered communications officers from across the Fellowship to collaborate together in ensuring that both the members of the Fellowship and it’s partnering communities are aware of broad ranged emerging trends in our industry.

Leadership Development

In addition, the program to develop leaders with the Fellowship and to strengthen leadership in the contexts where Interserve works was continued. A weeklong in-person gathering of leaders representing many languages, ethnic backgrounds and cultures punctuated this effort in 2024.

Equipped to Serve

Interserve also resumed its practice of investing in the personal development of members who are serving in their first term through two residential intensives exploring cultural and personal challenges faced when living and serving in cross-cultural contexts.

Financial review

During the current financial year, the Charity incurred a deficit of $92,787 (2023: deficit of $300,994) through ongoing activities, resulting in total year end reserves of $780,815 (2023: $873,602).

Charity number 1187558 Company number 11599413

5

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

The Trustees are satisfied with the financial performance of the Charity throughout the year.

Of the total reserves held at year end $389,313 (2023: $583,996) were unrestricted as to use, although only $68,090 (2023: $ 174,704) was available as general funds as a result of designations made to support various projects as outlined in note 8 of the financial statements.

Reserves policy

The Trustees have amended the reserves policy during the year and now state that the Charity should hold a minimum unrestricted reserve (including designated funds) equivalent to between three and six months expenditure - between $175,000 and $350,000. The current level of $389,313 (2023: $583,996) is slightly above this level, but not excessively so.

Principal Risks and Uncertainties

Under the leadership of the Fellowship’s operations officers, the International Leadership submitted a broad updated assessment of threats and related risks to the Fellowship. This assessment was presented to and accepted by the International Council of the IIF in November 2024. This assessment, an element of our ongoing desire to protect the ability of the Fellowship to implement and conduct its ministries and services, highlights several threats affecting the ministry of the IIF. The following represent the most present and pressing threats:

Organisational Intelligence Loss and Internal Alignment in Leadership and Governance

With the succession of the International Director, and turnover in several International Leadership Team members, the challenge of capturing experience and a broad range of past decisions for orienting succeeding leaders became a prominent issue. Beyond effective onboarding of incoming international leaders, the IIF charity fills a central role for the international Fellowship towards clarity of purpose and the nature of our approach to ministry.

Each independent organization within the Fellowship has their own governing board registered in the national jurisdiction where they operate. We have become increasingly sensitive to the challenge of helping those governing boards understand and develop a sense of ownership to the history, culture, ethos, and operational approach of the wider Fellowship.

Failure to build effective processes and core alignment in these elements risks fragmenting our efforts and undermining key priorities. As a result, priority focus will be given to build clear and consistent protocols for handover from outgoing leaders to their successors. In addition, we intend to continue efforts to directly engage governing boards wherever an Interserve organization is registered so that the broader challenges of the Fellowship are understood, our principal values are embraced, and our sense of unity is strengthened.

Organisational Structure

As has been understood for some time, the structures of the International Fellowship are increasingly becoming less effective and helpful. In some aspects of our operations, the structures may actually hinder the implementation of our priority strategies. Conversations intended to foster broad discussion and advance movement in crafting structural modifications have proven to be difficult to initiate, meeting with internal resistance in certain segments of our community.

These structures largely shape roles and responsibilities, processes, expectations, and assumptions for the core leadership and operating elements of the organization in pursuit of our calling, purpose and vision. We seek to craft structures that support our approach to mission fulfillment and better support these new challenges and opportunities. The pace, fit, and effectiveness of these changes present uncertainty and a range of risks for the Fellowship.

Financial Resource Models and Movement of Funds

Related to the organizational structures challenges, a continuing threat to our wider Fellowship at all levels is that the financing models we have been using for most of our history are increasingly challenged. This is amplified as our mobilizing contexts (personnel and financial resources) are expanding to include parts of the world where this model is foreign. As a result, our ability to fund our ministries is threatened in the future.

Working groups have continued to explore, experiment and pilot alternative principles of raising needed resources, financial resources in particular. These efforts are considering the ability to practice a greater degree of international

Charity number 1187558 Company number 11599413

6

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

generosity, and community-based resource sharing, as well as developing an outcomes-based appeal to support our work that can be published across our varied contexts.

In addition, the Fellowship faces on-going challenges in obtaining and maintaining banking relationships in view of the more cautious appetite and lower risk tolerance of financial institutions to certain business sectors and higher risk jurisdictions. The Fellowship reviews and updates its procedures and processes periodically to ensure transparency in its financial operations and compliance with current rules and regulations governing such banking relationships.

Governance and management structures

Interserve International Fellowship was incorporated as a company limited by guarantee (England & Wales) on October 2nd 2018 (registration number 11599413) and is governed by its Articles of Association. This company is registered with the Charity Commission in England and Wales under reference 1187558, with the registration completed on 24 January 2020.

The International Council, which includes the Trustees, are responsible for appointing the International Director (the senior role of the management team), approving the Annual Report and financial statements, appointing the auditors, and ensuring that the charitable company is managed by the International Director in accordance with the policies established by the International Council from time to time.

The International Council Finance Committee (ICFC) is a sub-committee of the Council. This committee monitors the work of the Chief Finance Officer and the Finance Manager and is tasked by Council with overseeing the preparation of the Financial Statements; the budgeting process; and the audit process.

The International Director, through an International Leadership Team, is responsible for taking all actions necessary to achieve the aims of the charity.

Registered Interserve organisations in their local jurisdiction have signed a “Covenant of Fellowship” with the other entities that form the International Fellowship. The covenant commits each signatory organisation to uphold the statement of faith, purpose statement, vision and values of the International Fellowship, to work within the accountability structures by which the fellowship functions, to observe agreed financial principles and procedures and maintain consistent communications. At the same time, each registered organisation retains its legal autonomy within the International Fellowship and duly operates within the charity laws and regulations within its registered jurisdictions.

The Charity currently does not employ any staff directly and instead utilizes staff employed by other Interserve entities and reimburses those entities for expenses incurred in their services.

Reference and administrative details

Registered offce

652 Alum Rock Road Birmingham B8 3NS

Trustees

The Trustees who served during the year, and since commencement, were as follows:

Peter Michael Oyugi (Chair) Vijay Alexander Grace Issa Elias Alzoughbi (resigned 19 November 2024) Adrienne Ingrid Rosina Ester Janet Anne Kennedy Min Dong Paul Lee Geana Patricia Pereira

Charity number 1187558 Company number 11599413

7

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

Rita Rimkiene Dr Jamie Matenga Wood Arend Sylvester Zwanepol

These, the trustees of the IIF, are members of the International Council of Interserve as mentioned above in “Our nature, charitable purpose & approach”.

Independent examiners

Enaid Accountancy Ltd Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU

Solicitor

Russell Cooke 2 Putney Hill London SW15 6AB

Statement of Board of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the excess of expenditure over income for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In addition, the Trustees confirm that they are happy that the content of the annual review on pages 4 to 9 of this document, meet the requirements of both the Trustees’ Annual Report under charity law and the Directors’ Report under company law.

They also confirm that the financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s governing document, the Charities Act 2011, the ‘Charities SORP (FRS 102) - 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 (FRS 102) second edition (effective 1 January 2019)’, the Financial Reporting

Charity number 1187558 Company number 11599413

8

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Trustees confirm that:

• each Trustee has taken all the steps that they should have taken as a Trustee/Director in order to make themselves aware of any relevant independent examination information and to establish that the Charity’s independent examiner is aware of that information.

Preparation of the report

This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006, and the exemptions available for smaller charities under the Statement of Recommended Practice.

This report was approved and authorised for issue by the Board of Trustees on 24 July 2025 and signed on its behalf by:

C J Binder

PETER OYUGI

CHRIS BINDER

CHAIR

CO-INTERNATIONAL DIRECTOR

Charity number 1187558 Company number 11599413

9

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

Independent examiner’s report

I report to the Trustees on my examination of the accounts of Interserve International Fellowship (charity number 1187558, company number 11599413) for the year ended 31 December 2024 which are set out on pages 12 to 24.

Respective responsibilities of trustees and examiner

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (‘the 2011 Act’) nor under Part 16 of the 2006 Act, and that an independent examination is needed.

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, it is my responsibility to:

This report, including my statement, has been prepared for and only for the Charity’s Trustees as a body. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body for my examination work, for this report, or for the statements I have made.

Basis of independent examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters.

The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or,

• the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Charity number 1187558 Company number 11599413

10

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

ANDREW PHILIP NASH FCA

MEMBER OF THE INSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND AND WALES – 2461833 DATED: 1 AUGUST 2025

Enaid Accountancy Ltd Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU

Charity number 1187558 Company number 11599413

11

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

Statement of financial activities

Incorporating the Income and Expenditure Account & Statement of Realised Gains and Losses For the year ended 31 December 2024

Notes
Income from:
Donations & legacies
3
Charitable activities
4
Investments
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Funds brought forward
8 & 9
Funds carried forward
8 & 9		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2024
2024
2024
2023
$ $ $ $ 74
62,826
62,900
2,588
439,597
103,435
543,032
515,056
10,630
-
10,630
746
450,301
166,261
616,562
518,390
644,984
64,365
709,349
819,384
644,984
64,365
709,349
819,384
(194,683)
101,896
(92,787)
(300,994)
(194,683)
101,896
(92,787)
(300,994)
583,996
289,606
873,602
1,174,596
389,313
391,502
780,815
873,602

The notes on pages 15 to 24 form part of the financial statements.

Charity number 1187558 Company number 11599413

12

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

Balance sheet

As at 31 December 2024

Balance sheet
As at 31 December 2024
Notes
Current assets:
Debtors & prepayments
6
Cash at bank and in hand
Current assets
Liabilities:
Creditors: amounts falling due within one
year
7
Net current assets/(liabilities)
Net assets/(liabilities)
The funds of the charity:
Restricted funds
8 & 9
Unrestricted funds
General funds
8 & 9
Designated funds
8 & 9
Unrestricted funds
Total charity funds		 $ 360,267
968,057		 Total
Funds
2024
$

1,328,324
(547,509)		 $ 372,628
960,402		 Total
Funds
2023
$

1,333,030
(459,428)
68,090
321,223



174,704
409,292
780,815 873,602
780,815 873,602
391,502


389,313		 289,606


583,996

780,815 873,602

The notes on pages 15 to 24 form part of the financial statements.

The financial statements have been prepared in accordance with section 415A of the Companies Act 2006 relating to small companies and FRS 102 Section 1A.

The charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 December 2024, and the members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2024 under section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

They were approved and authorised for issue by the Board of Trustees on 24 July 2025 and signed on their behalf by:

PETER OYUGI

CHAIR

Charity number 1187558 Company number 11599413

13

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

Statement of cash flows

For year ended 31 December 2024


nnual report and fnancial statements
Statement of cash fows
For year ended 31 December 2024
Cash fows from operating activities:
Net income/(expenditure) for period (as per SOFA)
Adjustments for:
Investment income
(Increase)/decrease in advances
(Increase)/decrease in prepayments
(Increase)/decrease in other debtors
Increase/(decrease) in national offce accounts
Increase/(decrease) in accruals
Increase/(decrease) in deferred income
Net cash used in operating activities
Cash fows from investing activities
Investment income
Net cash used in investing activities
Change in cash and cash equivalents in period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period		 $ (10,630)
7,814
18,483
(13,399)
74,862
375
12,307		 Total
Funds
2024
$ (92,787)





89,812		 $ (746)
(8,372)
(19,983)
(8,087)
45,344
(255)
10,812		 Total
Funds
2023
$ (300,994)


18,713
10,630
746
(2,975)

10,630		 (282,281)

746



7,655
960,402		 (281,535)
1,241,937
968,057 960,402

The notes on pages 15 to 24 form part of the financial statements.

Charity number 1187558 Company number 11599413

14

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

Notes to the financial statements

1. Accounting policies

Basis of preparation of the financial statements

The financial statements have been prepared in accordance with ‘Charities SORP (FRS 102) - 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 (FRS 102) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), including Update Bulletin 1, and the Companies Act 2006.

The effect of any event relating to the year ended 31 December 2024, which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 December 2024 and the results for the year ended on that date.

The functional currency of the Charity is USD and amounts in the financial statements are rounded to the nearest dollar.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The financial statements have been prepared on the going concern basis as the Board of Trustees is confident that future reserves and future income is more than sufficient to meet current commitments. There are no material uncertainties that impact this assessment, and the current economic environment has had no material impact on this assessment.

Legal status

Interserve International Fellowship is a charitable company registered in England & Wales and meets the definition of a public benefit entity. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member. The registered address is 652 Alum Rock Road, Birmingham, B8 3NS.

Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds are unrestricted funds which have been designated for a specific purpose by the Trustees. The

aim and use of each designated fund is set out in note 8 of the financial statements.

Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 8 of the financial statements.

Income

Income is recognised when the Charity has entitlement to the funds, any performance indicators attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable.

Charity number 1187558 Company number 11599413

15

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

1. Accounting policies (continued from previous page)

Income (continued from previous page)

Grant income is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless the grant relates to a future period, in which case it is deferred.

Income from charitable activities, including national office and On Track contributions, is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless it relates to a specific future period or event, in which case it is deferred.

Interest is recorded when it is receivable.

Expenditure and irrecoverable VAT

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.

Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated proportionate to total direct costs allocated to each project area, as outlined in note 5 of the financial statements.

Irrecoverable VAT is charged against the category of expenditure for which it was incurred.

Tangible fixed assets and depreciation

All assets costing more than $1,000 are capitalised.

There are currently no assets held by the Charity over this amount.

Cash at bank and in hand

Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values but are not held for investment purposes.

Debtors and prepayments

Trade and other debtors are recognised at the settlement amount after any trade discount is applied. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and accruals

Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably.

Critical estimates and judgements

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The annual depreciation charge for tangible fixed assets is sensitive to changes in useful economic lives and residual values of assets. In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Financial instruments

Basic financial instruments are measured at amortised cost other than investments which are measured at fair value.

Charity number 1187558 Company number 11599413

16

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

1. Accounting policies (continued from previous page)

Foreign currencies

Foreign currency balances have been translated at the exchange rate ruling at the Balance Sheet date.

Income and expenditure transactions have been translated at the prevailing rate at the time of the transaction.

2. Comparative statement of fnancial activities

Notes
Income from:
Donations & legacies
3
Charitable activities
4
Investments
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Funds brought forward
9 & 10
Funds carried forward
9 & 10		 Unrestricted
Restricted
Total
Funds
Funds
Funds
2023
2023
2023
$ $ $ 2,588
-
2,588
422,442
92,614
515,056
746
-
746
425,776
92,614
518,390
723,771
95,613
819,384
723,771
95,613
819,384
(297,995)
(2,999)
(300,994)
(297,995)
(2,999)
(300,994)
881,991
292,605
1,174,596
583,996
289,606
873,602

Charity number 1187558 Company number 11599413

17

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

3. Income from donations and legacies

4. Income from charitable activities
Donations
Donations
National offce contributions
On Track contributions
Other contributions
National offce contributions
On Track contributions
Other contributions		 Unrestricted
Restricted
Total
Funds
Funds
Funds
2024
2024
2024
$ $ $ 74
62,826
62,900
74
62,826
62,900
Unrestricted
Restricted
Total
Funds
Funds
Funds
2023
2023
2023
$ $ $ 2,588
-
2,588
2,588
-
2,588
Unrestricted
Restricted
Total
Funds
Funds
Funds
2024
2024
2024
$ $ $ 424,282
-
424,282
15,315
-
15,315
-
103,435
103,435
439,597
103,435
543,032
Unrestricted
Restricted
Total
Funds
Funds
Funds
2023
2023
2023
$ $ $ 406,126
-
406,126
16,316
-
16,316
-
92,614
92,614
422,442
92,614
515,056

Charity number 1187558 Company number 11599413

18

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

  1. Total expenditure
Fellowship development
Regional development
International offce
Country teams
Other projects
Link Coordination service fees
Governance
Fellowship development
Regional development
International offce
Arab World Conference
Country teams
Other projects
Link Coordination service fees
Administration
Governance		 Unrestricted
Restricted
Total
Funds
Funds
Funds
2024
2024
2024
$ $ $ 225,919
35,269
261,188
73,269
-
73,269
144,315
-
144,315
6,154
-
6,154
-
29,096
29,096
190,657
-
190,657
4,670
-
4,670
644,984
64,365
709,349
Unrestricted
Restricted
Total
Funds
Funds
Funds
2023
2023
2023
$ $ $ 289,246
25,923
315,169
105,981
83
106,064
87,786
-
87,786
142
1,718
1,860
859
-
859
40
67,718
67,758
181,437
-
181,437
53,818
171
53,989
4,462
-
4,462
723,771
95,613
819,384

Governance costs includes:

Independent examination
Trustee indemnity and charity insurance		 Total
Total
Funds
Funds
2024
2023
$ $ 3,379
3,437
1,291
1,025
4,670
4,462

Charity number 1187558 Company number 11599413

19

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

6. Debtors and prepayments

National offce accounts
Advances
Prepayments
Other		 Total
Total
Funds
Funds
2024
2023
$ $ 294,561
294,024
26,582
34,396
3,010
21,493
36,114
22,715
360,267
372,628
  1. Creditors: amounts falling due within one year
National offce accounts
Accruals
Other		 Total
Total
Funds
Funds
2024
2023
$ $ 485,889
410,490
5,245
4,870
56,375
44,068
547,509
459,428

Charity number 1187558 Company number 11599413

20

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

8. Analysis of charity funds

Restricted
Arab World Conference
Collaborative
Resourcing
Fund
E2S Development Fund
Europe Development
Medical Fund
Total restricted
Unrestricted
Designated
Leadership
Development
ANP Regional
Development (Latin
America)
Ministry Development
International Meeting
Fund
Global South
Leadership Financial
Support
ILT Director Support
Fund
Philippines
Africa Development
Emergency Fund
Total designated
General
Total unrestricted
Total funds		 Balance
Income
Exp’diture
Transfer
Transfers
Balance
brought
in
in
of
between
carried
forward
year
year
capital
funds
forward
2024
2024
2024
2024
2024
2024
$ $ $ $ $ $ 96,221
49,785
-
-
-
146,006

-
62,826
-
-
-
62,826
37,727
25,250
(35,269)
-
-
27,708
52,339
-
-
-
-
52,339
103,319
28,400
(29,096)
-
-
102,623
289,606
166,261
(64,365)
-
-
391,502
77,479
-
(60,154)
-
-
17,325
44,338
-
(2,000)
-
-
42,338
42,932
-
(1,581)
-
-
41,351
-
-
(25,605)
-
25,605
-
16,980
-
(87,600)
-
70,620
-
20,319
-
(4,100)
-
-
16,219
2,000
-
(18,000)
-
16,000
-
23,042
-
-
-
-
23,042
20,138
-
(1,254)
-
-
18,884
162,064
-
-
-
-
162,064
409,292
-
(200,294)
-
112,225
321,223
174,704
450,301
(444,690)
-
(112,225)
68,090
583,996
450,301
(644,984)
-
-
389,313
873,602
616,562
(709,349)
-
-
780,815

Arab World Conference

The Arab World Conference fund is to cover the costs of the joint Arab World Conference, held every three years. Each partner in the Arab World is assessed a monthly charge, paid by the partner’s respective national office. These funds are accumulated in order to cover the costs of the conference.

Collaborative Resourcing Fund

Exists to provide financial support to needy partners, national offices and certain projects and functions that need targeted funding. These needs will be listed in a Collaborative Resourcing Fund Catalogue of Needs. This fund is a restricted fund where members who donate will specify which item/s they are funding as listed in the catalogue. If no conditions are specified it will be treated as a general fund.

E2S Development Fund

This fund is designed to pay the costs of E2S Conference and contributions are made from Conference participants.

Charity number 1187558 Company number 11599413

21

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

8. Analysis of charity funds (continued from previous page)

Europe Development Fund

Support and development of partnership with European churches and mission agencies.

Medical fund

This fund is to provide funds for medical care when the partner is in the field. This fund is refreshed each month with a medical levy on each participant in the plan.

Leadership development

This fund is to encourage existing and emerging leaders across the Fellowship to engage in continuous personal development including study, reading and training.

ANP Regional Development (renamed from Latin America)

Generally these funds are setup to support global south national offices and also to assist other national offices in

times of financial difficulties.

Ministry development

This fund is for the development of core ministry within Interserve.

International Meeting Fund

The fund is to cover some of the costs of international meetings (Leaders Consultation, Regional Forums, Functional Leaders Conferences).

Leadership Financial Support

The fund is designed to assist and encourage members of the ILT in continuous personal development, training and study. It can also be used to assist in meeting financial obligations such as visa expenses while performing their leadership role.

ILT Director Support Fund

The fund is designed to support the ILT Director.

Philippines

This fund is for the development of Philippines partnership.

Africa Development

This fund is for partnership development with Africa missions and churches.

Emergency Fund

The Emergency Fund is for the purpose of evacuating partners and their families out of an emergency situation while serving in their country of service where a National Office does not exist in that country.

Charity number 1187558 Company number 11599413

22

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

8. Analysis of charity funds (continued from previous page)

Restricted
Arab World Conference
E2S Development Fund
Europe Development
Medical Fund
Total restricted
Unrestricted
Designated
Leadership
Development
Latin America
Ministry Development
International Meeting
Fund
Global South
Leadership Financial
Support
ILT Director Support
Fund
Philippines
Africa Development
Emergency Fund
Total designated
General
Total unrestricted
Total funds		 Balance
Income
Expenditure
Transfer
Transfers
Balance
brought
in
in
of
between
carried
forward
year
year
capital
funds
forward
2023
2023
2023
2023
2023
2023
$ $ $ $ $ $ 61,559
41,070
(6,408)
-
-
96,221
41,023
22,288
(25,584)
-
-
37,727
52,339
-
-
-
-
52,339
137,684
29,256
(63,621)
-
-
103,319
292,605
92,614
(95,613)
-
-
289,606
113,763
-
(56,284)
-
20,000
77,479
41,503
-
(2,142)
-
4,977
44,338
37,901
-
-
-
5,031
42,932
66,747
-
(66,747)
-
-
-
95,613
2,531
(81,164)
-
-
16,980
20,319
-
-
-
-
20,319
20,000
-
(18,000)
-
-
2,000
23,042
-
-
-
-
23,042
21,533
-
(1,395)
-
-
20,138
162,064
-
-
-
-
162,064
602,485
2,531
(225,732)
-
30,008
409,292
279,506
423,245
(498,039)
-
(30,008)
174,704
881,991
425,776
(723,771)
-
-
583,996
1,174,596
518,390
(819,384)
-
-
873,602

Charity number 1187558 Company number 11599413

23

Interserve International Fellowship Annual report and financial statements

Year ended 31 December 2024

9. Analysis of net assets

Current assets
Current liabilities
Current assets
Current liabilities		 Unrestricted
Restricted
Total
Funds
Funds
Funds
2024
2024
2024
$ $ $ 936,822
391,502
1,328,324
(547,509)
-
(547,509)
389,313
391,502
780,815
Unrestricted
Restricted
Total
Funds
Funds
Funds
2023
2023
2023
$ $ $ 1,043,424
289,606
1,333,030
(459,428)
-
(459,428)
583,996
289,606
873,602

10. Analysis of net debt

Cash and cash equivalents
Cash at bank
Cash and cash equivalents
Cash at bank		 As at
Cash
Other
As at
1 Jan ‘24
fows
mmts
31 Dec ‘24
$ $ $ $ 960,402
7,655
-
968,057
960,402
7,655
-
968,057
As at
Cash
Other
As at
1 Jan '23
fows
mmts
31 Dec '23
$ $ $ $ 1,241,937
(281,535)
-
960,402
1,241,937
(281,535)
-
960,402

11. Trustee remuneration

During the year, no trustee received any remuneration (2023: NIL). 8 members of the Board of Trustees received reimbursement of travel expenses to attend IC meetings totalling $15,531 (2023: 11 members totalling $34,520).

12. Related party transactions

During the year there were no related party transactions (2023: NIL).

National Offices are not beneficial owners nor have any controlling interest in Interserve International Fellowship. They are not related to Interserve International Fellowship legally through equity structure and only transact in matters of expenses relating to their partners, payments of National Office contributions and payments to and fro.

Charity number 1187558 Company number 11599413

24