REGISTERED COMPANY IYUMBER: 11502326 {EngixDd Wslesl REGISTERED CHARrrY NUMBER: 1188088 Re n of the Trustees aTMI Fin . I Staternents for the Year End￿ 31 tyecember 2023 for The American International Ch¥Jr¢h Foutkdation Lirnited The An]erican Internationaj ChuF¢h Foundation Limited Contettts of the Financial Statetnents for th¢ Y￿r Ended 31 December 2023 Page Report of the Trustees Independent Examin¢rfs Report ststement of Financial Actavities Ba]ance Sheet Notes to th¢ Fit)ancial Ststements Detailed Statement of Financial Adivities The Arnerican Intern FouTJdation Limited ut¢h rt of thr TTUStees for the Year Ended l De¢¢mb¢r 2023 Th¢ trnsiees who art also dircctOTS of the charity for the pur￿lse$ of the QTrmpanie5 Act 2006, preseni their rep)rt with the financial $￿tInentS of the charTty for the year ended 31 December 2023. The trustees have &loWed the provistons of Accounting and Reporting by ChaTitie5'. Ststemeni of Ke(x)mmendwJ Prnctice applicable to charities preparing their a¢wunts in accordartce with the Financiat Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 1021 (effective l January 2019). STRucfuRE, GOVERNANCE AND MANAGEMENT Goverlli￿g docutDent The charity is controlled by its governing documenL a de￿ of trusL and L%)n￿lI￿c$ a lirnited company. limtted by guarantee. as defined by the Companies Act 2(￿. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 11502326 (England and Wales) Registered ChArity number 1188088 RegS$tered otT*e 79a Tottenham Court Road London Uttited Kingdown WIT4TD Trustees D Brush Real Estste Ittvestor S M James Retl￿d S P Brown Fi￿nce Ms M B Janssen Company Di￿r Company Secretary Approved by order of the lthrd of trustees on 20 Septembtr 2024 ald signed on its behalf by: -￿43(& Ms M B Janssen- Trustee Ind endeTLt Examin rt to the Trustees of The American Intern￿lonal Church Foundat2on Limiteo Independent ex*mineT'S report to the trnstees of The Amerii*n InternatiODal Chureh Found*tion Limited {'tbe CoThp3ny') I report to the charity ttuslees on rny examiDation of the accounts of the Comparty for the year ended 31 December 2023. RespoDsibilities and basis of rep)rt As the Gharity's trustee5 of the Company (and also its dire£tOf5 forthe of company law) you are respN)nsible for the preparation of the acwunts in accordance with the requirements of the Companics Art 2006 {'the 2(M)6 Adl. Having satisfitd Tny5elf that the accounts of the CoThpaDy are not required ￿ b¢ audited under Part 16 of the 2(M)6 Act and are eligible for independeni examination. I report in resrtti of my examiTJation of your charity's a¢wunts as carri out under Section 145 of the Charities Act 2011 {Ihe 2011 A¢t'l. In canying out my examination I have followed the Directiotjs given by the Charity Cornmission Mnder St￿10￿ 145(5) Ib) of the 201 I A¢L Indepelldent e￿Miner'S st4tement I have completed my examination. l eonfirni that ￿ matteF5 have corne to my au<)Jtion in connection wtth the examination giving me cause to believe". accounting records were not kept in respect of th¢ Company rcquired by Sect#)n 386 of the 20(6 Ac¢ or the accounts do not accord with those record5: or the accounts do not comply with the accounting requirements of Sectiov 396 of the 2{m￿ Act other than any requirement that the accounts give a true and fair view whi¢h is not a matter o)nsidered a5 part of aTE independet)i examination. or the accounts have rtot been prepared a¢¢ordanc£ wtth the methods and principle5 of the Statement of Recommended Prdciice for a¢¢ounting and reporting by charities (applicable to charities pi¢paring their accounts in accordan¢e with thc FinwKiai Rew>rtiThg Standard applicable in the UK and Republic of Ireland {FRS 1021). I have no ¢on¢erns and have come a¢ross no othcr mattu5 iTt cojmection with the exarnination to whtch att¢ntioo should be drawn in this report in order to enable a Proper understanding of the a¢¢ounts lo be rcached. Pat SharTna FCCA The Associaiion of Chartered Certified Ac£ountants Date= 1910912024 Page 2 TheAm lllternational Church Foundation Limiied Ststement of Financial Activities for the Year Ended 31 D¢¢ember 2023 31.12.23 Toral fimds 31.12.22 Total fi]nds Un￿strICted Restricted funds fur)d Notes INCOME AND ENDOWMEIYTS FROM Donation5 and legacies 32.960 32.960 16.781 EXPETr4DITURE ON Ch4rit*ble Charitable Activitie5 48.9 48.900 Other 153 153 T•¢al 49.053 NET INCOMEI{EXPENDITURE) {16,0931 (16.0931 16.770 RECONCILIATION OF FUNDS Total funds brought forward 16,770 16.771 TOTAL FUNDS CAIUUED FORWARD 677 678 16.771 CONTINUING OPERATIONS All incomt and exp¢thditure bavt arisen from u)ntinuing activttie5. The notes forni part of these financial statements Page 3 The Atnerican l lematton￿ Church FoUnd￿10Th Limited Balance Sheet l December 2023 31.12.2i Total funds 31.12.22 Total funds Unresthcted Restricted funds fund Notes CURRENT A&SETS Cash at bank and in ha¢)d 677 678 21.771 cRED￿ORs Amounts falling due within one year 15,(M)OJ NET CURREiYf ASSETS 6T/ 678 16,771 TOTAL ASSETS LESS CURRENT LIABILITIES 6T/ 678 16,771 NET ASSETS 677 678 16,771 FUNDS Unrestricted funds Restr￿Cted funds 677 16.770 TOTAL FUIYDS 678 The chariiable rolnpany 15 entid¢d ￿ ex¢rnption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 21r23_ The ]netnbers have not ￿quIred the compaTry ￿ obthin &Ddtt of its financial statements for th¢ year eTtded 31 December 2023 tn acwrdance with Se¢tion 476 of the CA)rnpaDies Art 21MJ6. The trustes acknowled8e their res￿NSIbIlitieS for la) ensuring that the tharitabl¢ company keeps a¢o)unting r￿OrdS that comply with Sections 386 and 387 of the Companies Aci 2006 and prepari￿g finallcial st￿ements which 8iYe a Irue 8t)d fair virw of the stale of xffaiT5 of the charitable company as at the end of each financial year and of its surplus or dcfieit for each financial year tn accordance with the requiremenis of Section5 394 and 395 and which otherwise comply with the requirements of the Companies Aet 2(106 re[￿illg to financial sta￿mertts. so far appliL*bk to the charitsble company. Ib) These financial ststements hav¢ bttn prepared im attold8￿C with the provisitins applicable to charitable wmpanies subje¢t to the small compartie5' regiTn¢. The financial statements were approved by the Board of Trustees and authorised for issue on 20 Semember 2024 and were signed on its beha]f by.. M B Janssen. Tmstee The notes forni part of these financial staternents Pagc 4 Th American Internataonal Church Foundation Limited Note5 to the Financi￿ Si*ements for the Year Ended 31 December 202) ACCOUNTING POLICIES Basi8 of prewariTrg the fin*nti*l stxtements The financial Statements of the charitsble ¢offlpaDy. which i5 a public benefit entity undeT FRS 102. have bee prepared in a¢¢ordan¢e with the Charitie5 SORP (FRS 102)'A¢¢ounting alld Re￿)rtIng by Charities.. Stst¢Tnent of RecoJnm¢nded Practice appli¢able to charitics preparing their accwnts in accordance with the Finan¢ial Reporting Standard applieable it) the UK and Republic of I￿latsd {FRS 102) (effective l January 20191,. Financial Reporting Standard 102 The Finaneia] Rewrting StandaTd applieable tn the UK and Republic of Irel￿d. and the Comwdnies Act 20(￿. The fmancial statements I￿ve be¢n p¥epaTed under the historical cost ¢onv¢ntion. In¢omt All income is recogThi5ed in the s￿ement of Financial Adivitits once the ¢harity h&s entitlement to the ￿nds, it is probable that the income will ￿ received and the amouni be M￿SUred reliably. Expenditure Liabilitits are recognised &$ expthdrturc as ￿)0￿ thert is a legal or wnstruchve obligatton committing the charity to thai expeDditure. it is probable a transfer of eCo￿TniC knefits will be reqUI￿d in settlement and the amollni of the obligation can be measured ffliably. Expajditure is accounied for on *] a(Eruals b8515 and has been Glas5ifEed under headtngs that aggregate all cost related to the category. Where costs be directly attributed to particular headingK they have been ailoL*d to ¥iivibes oll a b&sis eonsistent wtth the use of resources. Grant5 offered subject to cortditions which have tK)t been met at the year-end date are noted as a commitment but not accrued &s expenditu￿. Tax4tioA The charity is exempt from cortmtÉon tsx on it5 charitsble aclivitie& Fund aCeOUDting Unrestricted fi]nds can be used in accordance with the ¢haritsble objective5 at the discretion of the tsu5tees. Restricted fund5 can only be used fv partE￿lar restrictd wwp¥)5C5 within the objects of the ¢h8rity. Re5triclions arise Wh￿ specificd by the d(XM)ror WI￿ fill)ds *e Taikd for particular f¢Stri¢ted PUTW)5e5. Further explanation of the natur¢ and pyrp05e of eath fimd is includ￿1 in the to the fmancial sthtements. TRUSTEES, REMUNERATION AND BENEFTrs There were tru5tees' remut)eralion or other IKnefits for the year endtd 31 December 2023 nor for the year rnded 31 December 21r22. Trustees, expenses There were no trustees, exper￿ paid for the year ended 31 DeceTnber2023 nor for the year ended 31 Detttllber2022. Page 5 continued... Th¢ Atnerican International Church Foundation Limtted Notes to the Financial Staiements- continued ft)r tht Year Ended 31 December 202J STAFF COSTS 11]e average rnonthly numb¢rof empioyffs during the ye4r w&5 &s follows: 31.12.23 31.12.22 Average numberof Employtts No employees received emoluments in exce55 of £60.IK)O. COMPARATIVES FOR THE sfATEMEIYT OF FINANCIAL AcfiviTIES Unrestricted funds Restricted fund Total funds IP4COME AND ET41X)WMENTS FROM Donation5 and legacies 16.781 EXPENDITURE ON NET IIYCOME 16.770 16.770 RECONCILIATION OF FUNDS Total ￿thd$ brought forward TOTAL FUNDS CARRIED FORWARD 16,770 CREDITORS: Amouwfs FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other loaDS {see not¢ 6) 5,(K>O LO￿Ns An analysis of the matijrity of loa￿$ is given klow: 31.12.23 31.1222 Atnounts falling due within one year on demand: Other loans 5.000 Page 6 continued... The American Iniernation Found*ion Limited Notes to the Financial Statements- continued ftsr the Year Ended 3 1 December 2023 MOVEMENT ILY FUNDS Net movement in funds Al 31.12.23 At 1.123 Unrestricted r￿n￿LS General fund 16.770 (16.(P)3) 677 Restricted funds Share Capital TOTAL FUNDS 16.0931 678 Net movemtnt in funds, in¢luded the aknve are as folk)ws: IncoThing Resources Movement resources expended in funds Unrestritted f￿0￿5 General fund 32.960 (49,053) 116.093) TufAL FUNDS 32.960 49.0531 16,093) Comp*ratives f•r movetnent funds Net tnovement in funds At 31.12.22 At 1.122 Unrtttricted f￿ndS General fund 16.770 16,770 Restritttd Share Capita] TOTAL FUNDS 16,770 Comparative net mov¢ment in fund& includ&1 in th¢ atKbve are follows: Incolning ResouTtes Movement in fiubjs "nrestricted fuDds General fund 16,781 16.770 TOTAL FUNDS 16.781 16.770 Pag¢ 7 ¢ootinued... The Ameri&￿ Intern*ionai Church aiion Limiied Notes to the Financial Statemen for the Year Ended 31 tkcember 2023 MOVEMENT IN FUNDS- e•ntiDved A current year 12 months and prior year 12 months combined wsition is &$ follows: Net move[n￿t in furKIs At 31.12.23 At 1.1.22 Unrestricted funds Generdl fund 677 677 RtstTitted funds Share Capital TOTAL FUIYDS 677 678 A ¢Ur￿nt year 12 month5 and prior year 12 months comb1￿{ net movement in fuTMts. included in the above are a5 follows: It)o)ming Resources Movement expended in fllnds Unrestricted funds Generdl fund 49,741 (49.064) 677 TOTAL FUNDS 49.0641 677 RELATED PARTY DISCLOSURES There wete no rel*ed party trdll5actions fortheyear ended 31 D¢¢¢n]ber 2023. Page 8 The American Internaiiooal Church Foundation Limited Detailed Statement of Financial A￿lYttl¢s forthe Year Ended 31 De¢anber 2023 31.1223 31.1212 INCOME AND ENDOWMEiYrs Donativns and legari Gifts Donations Loyalty Rewards 32.957 16,781 32.960 16.781 Total ineorniTrg resources 32.960 16,781 EXPEIYDITURE Charitsble activities Grants to institutions 48.900 Sllp￿rt costs FinAnt¢ Legal cost Bank charges 13 140 153 Totsl resources eKpend¢d 49,053 Net (exp¢nditure)fw¢omt 16.093} This page does not forn part of the slaiuiory finats¢ial statements Page 9 ## **The American International Church Foundation Ltd 79a Tottenham Court Road London W1Y 4TD** ## **Charity Registration Number 1188088** ## TRUSTEE ANNUAL REPORT FOR YEAR ENDING 31 DECEMBER 2023 ## **Trustees** Melissa Janssen, Chair Scott James David Brush Stuart Brown **Charity Registered Number** 1188088 79A Tottenham Court Road **Principal Office** London W1T 4TD **Independent Examiner** Brayan & Spencer Associates Ltd 25 Leeming Road Borehamwood, Hertfordshire WD6 4EB **Bankers** Barclays Bank plc 15-17 Tottenham Court Road London W1T 4BJ ## **Objectives and Activities:** - Our Aims & Objectives The objectives of The American International Church Foundation (AICF) are to advance the Christian faith for the benefit of the public by providing for the worship of God, the study of His word, the fellowship of Christian believers and such other activities that may advance the Kingdom of God and in particular but without limitation by supporting the American International Church. - Activities for Achieving Objectives AICF solicits donations to be used to provide grant funding to organisations that will fulfill the AICF objectives. ## ● Public Benefit The Trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit. When awarding grants, the Trustees review the public benefit provided by the grant recipient. - Grant Making AICF has a grant making policy which outlines the procedure for awarding and monitoring grants. Grantmaking is the principal manner in which AICF achieves its objectives. ## **Achievements & Performance** In 2023, AICF approved its first grant application in January to The American International Church. After reviewing the information in the application, the Trustees of AICF awarded a grant of up to £100,000 to support the work of The American International Church in its ongoing Christian faith activities along with its effort to support the surrounding communities, for instance in its work with The Soup Kitchen and the Cold Weather Shelter. The American International Church was very grateful for the financial support AICF was able to provide and provided updates regarding the use of grant funds. During 2023, AICF raised donations totaling close to £33,000. ## **Financial Review** - Financial Summary AICF raised £32,957 in unrestricted funds and paid net bank charges of £138. Bank charges increased significantly from 2022 due to the expiry of the initial period of free banking services from Barclays. In addition, AICF had expenses of £13 which were for the Companies House Annual Confirmation Statement Fee. In January, AICF refunded a loan of £5000 made in 2021 by The American International Church. The loan had been used to set up the Foundation and its bank account. Using donations received in 2022 and 2023, AICF was able to make grant payments to the American International Church of £48,900. At the end of 2023, AICF held £677 in its bank account. ## ● Reserves AICF anticipates having minimal expenses and so does not plan to hold material reserves. Grant payments are made on a quarterly basis at a level in line with actual donations. - Going Concern AICF only awards grants which it can fund from donations so the Trustees believe that there are no material uncertainties that call into doubt AICF’s ability to continue. For this reason, they adopt the going concern basis in preparing the financial statements. ## **Structure, Governance and Management** - Constitution The Charity is governed by its Articles Of Incorporation which were filed on 6 August 2018. - Method of Appointment of Election of Trustees The Charity’s management is the responsibility of the Trustees, who are appointed under the terms of the Articles of Association. New trustees receive training at the time of their appointment and are made aware of their responsibilities under Charity Law. AICF is required to have at least three trustees. - Organisational Structure and Decision Making AICF is wholly owned by the American International Church Society, a charitable company incorporated in the USA. The American International Church Society has delegated all decision making for AICF to the Trustees. Trustees meet as required to transact Charity business. All Trustees must approve any grant application. Once a grant has been approved, a Monitoring Committee (comprised of two Trustees) is authorised to approve grant payments which meet the terms of the existing grant. The Monitoring Committee informs all Trustees when grant payments have been made. ## **AICF Trustees** The current Trustees are: Melissa Janssen - Chair Stuart Brown David Brush Scott James ## **Declarations** The Trustees declare that they have approved the Trustees’ report above. Signed on behalf of the Charity’s Trustees: Signature Full Name Melissa Janssen Position Trustee Date 5 October 2024