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2021-09-30-accounts

SIM International (UK) Report and Accounts Year ended 30 September 2021

Contents

This year at a glance

Welcome The difference we made

Page 3 Page 4-5

Part 1: Strategic Report

What we do Pages 6-7 Good stewardship Pages 8-9 Our Impact Pages 10-19 People and accountability Page 21 Looking ahead: 2021/22 Page 22 Balanced: risks and risk management Page 23

Part 2: Accounts

Structure, governance, and management Page 25 Reference and administrative details Page 26 Trustees’ report Pages 27-29

Auditor’s report Page 31 Statement of financial activities Page 32 Balance sheet Page 33 Statement of cash flows Pages 34-35 Notes to the financial statements Pages 36-55

Acknowledgements

Page 57

A Bible class in South Asia, equipping church leaders to lead their congregations faithfully.

ENGAGE workers from the Gambia serving with Harper Church in Glasgow

Dr Simon Stretton-Downes was honoured with an OBE in June 2021 ‘for services to dentistry in Africa, particularly in Liberia.’ Here, he and Grace and their dental team return from a trip to rural communities where, with permission, each patient is prayed for and hears the gospel.

Company Registration Number: 611250

Welcome!

This year, like 2020, saw Christians worldwide adapting to a new way of doing ministry, sharing God’s Word, and proclaiming hope among their communities. It continues to be difficult; the Covid-19 pandemic has placed unique pressures on individuals, families, churches, and whole communities and fluctuating in and out of lockdown is both disheartening and disruptive for many across the world. We are thankful that our Sovereign Lord does not change or falter, and that he continues to provide abundantly and faithfully through his people and by his Spirit.

It has been encouraging and inspiring to start 2021 by prayer, joining with brothers and sisters from across the SIM world each month for online gatherings. Our focus continues to lie on communities where Jesus Christ is least known, supporting the Faithful Witness teams in Chad, Mali, and Thailand and enabling our members and associates to continue in their ministries across 34 countries. It has been wonderful to see the growth in our prayer network and experience cross-cultural workers joining prayer groups, church services and our own daily staff prayer meetings.

We are thankful for the opportunity to develop strategic thinking and direction for the coming five years under our Mobilisation Strategic Review. Although we started this process before Covid-19 emerged, the ensuing changes forced by new patterns of working have helped us develop our thinking and explore more digitally-led pathways to enable and equip churches and their members for cross-cultural mission.

On behalf of the SIM UK Board, we give thanks to the Lord for each staff and volunteer member of the team who have continued to serve with diligence, joyful perseverance, and commitment throughout 2021.

With blessings,

Steve Smith (UK CEO), Jonny Dyer (Co-Chair of Trustees) David Thompson (Co-Chair of Trustees)

At a glance…

The difference we made

£60,422 raised for clinics and hospitals, like Egbe in Nigeria, to provide them with PPE and ventilators.

Jane* , serving in south Asia with anti-trafficking ministries, describing SIM as ‘a family away from family’.

Elaine and Jonathan worked in Niger for 42 years. Long-term workers have the joy of seeing the children they taught growing up to become pastors and leaders.

7 projects in 6 nations work with victims and survivors of trafficking, and equip churches and families to spot the danger signs.

Geanne, sent from the Netherlands through SIM UK, works in the community kitchen in Melusi Christian Community in South Africa.

Top next page: Women learn about diabetes, hypertension and cancer in a community health project.

See what the Lord has done

To all those who have supported or prayed with us…

thank you!

Part 1: Strategic Report

What we do

Convinced that no one should live and die without hearing God’s good news, we believe that He has called us to make disciples of the Lord Jesus Christ in communities where He is least known.

Our vision:

A world with a witness to Christ’s love where He is least known, disciples of Jesus expressing God’s love in their communities, and Christ-centred churches among all peoples.

To do this, we work hand-in-hand with evangelical churches to:

Send and receive Equip people for crossMake disciples for Christ gospel workers cultural mission where he is least known

Sending and receiving gospel workers

workers are serving in 34 countries, including 7 workers received into UK churches through our ENGAGE programme.

154

churches across the UK send and support mission workers through SIM UK. 37 churches were visited in 2021 by a SIM UK representative. We work with evangelical churches across different denominations or networks.

108

Our Mobilisers and the ENGAGE team work with each applicant and their church to ensure the process is efficient, prayerful and appropriate for all concerned.

It takes, on average, 8 months for Associates and 6 months for Members to start their placement from their initial enquiry.

Equipping cross-cultural mission

Recognising the role of the local church in transforming communities worldwide, we are delighted that:

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workers are involved in theological training across 18 nations.

45

church and ministry leaders joined our training workshops via Zoom.

39

people joined an Orientation course, preparing for service.

Through the generosity of our supporters, we have funded:

theological colleges and Bible schools in Africa, Asia and South America. 11

41

ministries that:

£4.42m

In 2021, we enabled £4.42 million of support to reach workers and projects worldwide.

Disciples for Christ where he is least known

86% communities without the gospel have no Christian witness, yet many organisations send resources and workers to areas where there is already a church established.

We seek to cross barriers into those communities who do not have churches.

Faithful Witness is a key SIM ministry that places multicultural, multi-ethnic and multi-skilled teams in new places. We currently send and support teams in 8 locations, including Mali, Chad, Thailand, North Africa, the Middle East and East Asia.

Good stewardship

Throughout 2021 we were grateful to God for his continued gracious provision of the financial resources needed to sustain our ministry. It is through the faithful and generous giving of God’s people that we have been able to progress our ministry whether overseas or here in the UK. It has been a tremendous encouragement to all our members to see how the sacrificial giving of our supporters has enabled them to continue serving the Lord in their chosen locations and provide for the practical needs of the main supporting UK office. This generosity has a profound impact on the lives of so many.

Like many similar Christian mission agencies, SIM has limited financial resources, so we strive to ensure that the money we receive is used wisely, efficiently and as economically as possible. We are stewards of the Lord’s money, are conscious of the trust that has been placed in us, so we will always do our best to adhere to the highest possible standards of financial oversight and governance. Our Finance & Legal sub-committee meets regularly and advises the Board on all practical financial and legal matters, ensuring that we remain accountable to God and our supporters for the way in which we use the resources provided.

Where our income comes from

Our total income for 2021 was £4,225,299.

Most donations are to restricted funds whilst around £276,600 is unrestricted, enabling us to use it where the need is greatest.

Where your money is spent

We do not spend much on fundraising, as our mission workers largely raise their own funds and support for their work.

How we raise and spend funds

We raised £4,225,299 from our faithful supporters, churches and trusts. Thank you!

Donatons and similar:

Income

Legacies: £77,730

Interest and investments: £18,760

We spent £4,033,541 directly supporting world mission in 75 countries.

Funds directed to mission

workers:

£2,991,405

Ministry: £269,214

Projects: £863,072

Mobilisaton & Member Care

£131,399

Raising Funds: £18,421

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Expenditure
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More detail about our financial activities is found in Part 2, from page 31

Our impact

Reach

SIM UK continued to send, support and equip gospel workers for cross-cultural ministry, throughout 2020 and 2021, despite the worldwide Covid-19 situation. Through their work and the grace of God, love and compassion and hope has touched thousands of people.

Taking into account financial support and prayers, our reach is far wider — approximately half of the projects we fundraised and processed the donations for are in countries where we partner with other SIM organisations.

Throughout the SIM group of organisations, we have 503 shared projects and ministries.

Effectiveness

Since 2010, we have required all projects to submit 6 monthly reports noting progress, financial spend and developments. This ensures we know and can track the effectiveness of our support to ministry and either bolster or reduce funding as appropriate.

Examples of the impact God is making are illustrated on the following pages.

For information on a specific project or ministry, please email the SIM UK office.

Donald (right) and his wife Becky run a Bible training course for church leaders in Mexico.

Insur Shamgunov and Tim McMahon led intercultural training workshops for UK church leaders.

Jonny and Olga run an oral Bible course in Bolivia with a Quechua church barely two years old.

Sam and Katie* build relationships in Chad, to establish a local church

Worldwide work and partnerships

SIM UK works alongside 45 SIM entities as part of the SIM global family. We also partner closely with other like-minded organisations around the world, particularly in locations where resources are scarce. This enables us to work more effectively to serve the local churches and communities.

Globally, SIM works in 80 countries on every inhabited continent. SIM Country and Regional Directors meet regularly with each other and there is shared learning and wisdom.

Workers sent through SIM UK from UK churches are received into their host country by the corresponding SIM entity.

Building relationships across cultural, religious or ethnic barriers is key for workers in any context.

Ministry types

SIM members serve in a wide variety of different ministries, including:

Ram and Keshari joined the Antioch Network church in Rochdale from Nepal, connecting with neighbours.

Senior surgeon Dr Ted launched a training programme for doctors at the Good New Hospital in Madagascar..

Theological education and discipleship

We believe it is crucial to the future of local and national churches to have trained and wellequipped pastors and elders serving them. Our theological education projects provide additional training to those already in ministry, and support and guide those within churches who feel called to full-time church work.

We support theological seminaries and Bible schools across 11 nations, including the Evangelical Churches Winning All (ECWA) seminaries in Nigeria. Since 2015, John and Abigail have been teaching courses here and supplying suitable resources for students to study.

We also support youth workers, other ministry leaders and ordinary Christians around the world in their personal faith journeys, convinced that the Lord has called each of us to serve wherever He has placed us.

Those involved in theological education overseas all have substantial Bible teaching experience and relevant qualifications themselves.

Church planting

We seek to establish strong local churches in communities where Christ is presently least known. We focus on developing new leaders from these communities.

24 current workers are directly involved in church planting in 14 countries. They are usually all part of multi-ethnic teams, forming a diverse and creative faithful witness.

In the last 3 years, we have regularly supported 3 church planting projects in Central Asia, East Asia and East Africa through our Alternative Gifts shop.

Entrance to the ECWA seminary in Tofa, northern Nigeria.

In Ghana, team members trained by previous SIM workers are now teaching and training other church leaders.

Two SIM UK workers serve in a church planting project in Central Asia that focusses on remote communities.

Bible translation and access

We recognise the importance of reading the Bible and other resources in one’s own language. Several translations into new languages were completed for the first time—including the Kafa Bible for the people of Bonga, Ethiopia, which began in 1981, and the Chadian Arabic Bible, first published in May 2021.

We have three SIM UK workers directly involved in Bible translation and access, including Debbie who has continued working with her Madagascan team of translators as they translate texts from the official Malagasy Bible into Tsimihety, their mother-tongue.

Our supporters have enabled £33,795 in the last 5 years to go to key translation projects worldwide, notably £13,401 for Arabic Sunday school resources with some of our workers in the Middle East.

Current Bible translation

projects:

Tsimihety, language in Madagascar Nyimang and Garame, languages in central Africa Manya, language in West Africa ‘F1’, West African language

Old Testament translation projects: Yom, Monkole, and 2 other languages in Benin.

‘T’ in West Africa

Providing Bible resources and commentaries is an important ministry for pastors, church leaders and theology students. We have supported 6 projects in 6 countries through workers and donations processed.

In Namibia, church leaders and theology students often struggle to afford textbooks, commentaries and other materials. Through ‘pastors booksets’, since 2010, we have sent £14,290 to also equip new leaders in Mongolia, Malawi, Senegal, Ecuador and Nigeria.

Medical mission

We currently send workers from the UK to the following 10 nations:

Dr Ted Watts and a surgical trainee in Madagascar.

Our medical workers serve in multi-cultural teams, praying for and alongside patients with permission, and offering Bible classes at the clinics.

The roles are varied; we send surgeons, radiologists, anaesthetists, physiotherapists, dentists, trauma counsellors, hygienists and nutritionists. We regularly have UK medical students completing a pre-med term abroad.

Internationally, we have capacity to send workers and process donations for medical ministries in 21 countries across South America, Africa and Asia.

We are thankful that our faithful supporters regularly donate funds and pray for medical ministries worldwide. In the last 10 years, we processed £530,690 donations to 58 medical projects.

Hope Dental Clinic, a mobile dental ministry providing low-cost care in Quechua villages.

Helen and a Christian colleague working in Keru Yakaar (’house of hope’) in Dakar, Senegal.

In addition to consultations, she runs a project for diabetics and another program for malnourished children.

Development and relief

Through strengthening communities and relieving poverty or disaster, SIM UK workers have made a difference across several continents.

46 projects work with communities to develop safe drinking water through the provision of new deep wells or pumps, arsenic awareness and treatment, and community education in low -resource areas. One of our workers serves in the high Andes, helping remote Quechua villages have access to clean drinking water.

22 projects across 18 countries provide at-point -of-need assistance to communities affected suddenly by drought and famine, floods or other natural disasters. These projects share food packages and hygiene kits to individuals and families, and some medical equipment to medical workers there.

Recognising the impact of Covid-19 on vulnerable communities, a project started mid-2020 has continued to resource medical ministries across 21 countries with PPE, ventilators, information cards and some medical evacuations where possible. We are delighted that our supporters gave £60,422 to assist this project, including £2184 to one particular ministry in South Asia during the financial year 2021.

The WHO 2020 estimated 45% deaths of children under 5 years old are from malnutrition. Partnering with local organisations like Caring for Kids, we help children recover.

Workers serving in adult literacy projects or helping families understand healthcare and how to provide nutritional meals for their children on restricted budgets.

Teams and individuals sent through the European refugee and migrant ministry project, HowWillTheyHear, have helped at large-scale refugee camps in Greece

….

Teaching and community education

15 workers serving in 9 different countries are directly involved in teaching and community education. This includes teaching the children of mission workers, which is often essential for the continuing ministry of mission worker parents.

In the financial year 2020-2021, we processed £35,955 from our generous supporters on behalf of 7 projects around the SIM world. These were particularly focussed on rural education projects in South Asia, education centres in the Middle East and rebuilding community educational infrastructure in Central Africa.

Community education includes ministries:

17 Development & Relief projects and 14 Teaching & Community Education projects specifically focus on the development of women and young girls, recognising the reality of continuing inequality in many parts of the world.

Mission kids in Nigeria. The welfare of children and young people serving with us overseas is of utmost importance to us.

Children and youth work

12 workers are involved in children’s ministry and youth work. They serve in Madagascar, Ecuador, Nigeria, Asia, Peru, Zambia, South Africa and East Asia.

One couple, sent from a church in Edinburgh, is serving in the city of Loja alongside young people aged 15-25. Whilst consolidating their language learning, they have assisted with English clubs, media ministry and social media to build bridges into the youth communities.

Another couple, serving in South Africa since the 1980s, run Mseleni children’s home caring for those orphaned because of AIDS. It contains a specialised play therapy unit for traumatised children to process difficult histories with trained staff. In the past 10 years, we have processed £44,508 in donations on behalf of this care home.

Our Third Culture Kids

We have a dedicated member of staff responsible for Third Culture Kids; the children of our mission workers serving around the world. Through regular debriefs with the families and a specific child-focussed Family Orientation, she helps them navigate their experiences and process transitioning from one culture to another.

Sunday School class in South Sudan. SIM UK sends 15 teachers and 12 workers serving in youth or children’s ministry teachers who serve overseas in 15 different countries.

Business and leadership

Through setting up new businesses guided by Christian principles and ethics, or by training local staff, or through leading teams and projects across the world, SIM UK workers have used their professional skills in many different countries.

We recognise that business has a God-given power and potential for good in communities across the world. We know that business can multiply resources, enable good stewardship, lift families and communities out of poverty and push forward innovation across different sectors.

There are other SIM businesses as mission projects operating across Ethiopia, Nigeria, South Asia and East Asia, training Christians in professional and vocational skills, as well as discipleship. In some regions of the world, it is only possible for Christians to obtain legitimate visas through work or business, and projects are created to stimulate the local economy, employ local people with fairness and provide opportunities for serving the community.

Graham and Trudy, both accountants, assist several national teams with finance and bookkeeping. Here in Ghana, they’ve been supporting new treasurer Babani.

A youth training centre in South Asia trains young men from rural villages in technical skills and spiritual ministry.

People and accountability

Our people and commitment to diversity

We have a core team of 23 people, formed of 21 paid staff and 2 volunteers, serving across the UK. This is a decrease of 6 staff since the last reporting year and represents both the changes required by operating under a break-even budget and the relocation change to Cambridge from Suffolk.

We remain committed to diversity of age, ethnicity and gender, and promote a good and harmonious working environment for all staff, as stated in our Equal Opportunities policy. 20% of the Board of Directors are female; 20% come from ethnic minorities. In the staff team, 60% of the operational management are female which roughly mirrors the 65% of the staff team.

Operational Management

Team organisation

Our office team is organised into several teams, each led by a member of Leadership Team. These teams are Finance, Communications and Engagement, Mobilisation and People Care, and Operations and Mission Support.

Strategic Review and new developments

Over the course of 2020-2021 we undertook a wide-ranging strategic review to investigate our operations and mobilisation. This was done in partnership with Firstfruits Ltd. It concluded in September 2021. Our focus has not shifted from our mission, and we remain committed to serving the church and mobilising gospel workers for communities where Christ is least known. We recognise the need for increased use of digital tools and awareness across the charity and the coming 5 years will see us develop these and integrate them into our systems and processes.

Despite the challenges of Covid-19, we managed a staff prayer afternoon in Cambridge during the summer.

Since 2011, £713,175 has been donated to compassion ministries worldwide, like sustainable farming initiatives. in Ecuador.

Looking ahead: 2021/2022

Our strategic direction

After a period of review throughout 2020-2021, we concluded our findings and drew up the following vision and goals to carry forward over the coming 5 years.

As part of the review process, we consulted church pastors, prayer group leaders, our alumni and retirees and our existing body of mission workers and staff members from across the country.

We recognise that global trends of Christianity are changing and that traditional models of sending are no longer the only methods available to the worldwide Church.

December 2020 saw an intensive review period with Frank Analysis Ltd involving 6 online focus groups, 22 interviews and 2 questionnaires to staff and mission workers to understand how and why the next generation might be mobilised into cross-cultural ministry.

Balanced: Risks and Risk Management

The Trustees, together with the CEO, have overall responsibility for the SIM UK system of internal countries. The Trustee Directors are committed to the implementation of an organisation-wide risk management policy and system. Regular reviews of potential risks are carried out.

A formal process is in place which includes the development and review of a comprehensive risk register, identifying and putting appropriate control measures in place for the management of key organisational risks.

The directors have identified the severity of the risks to which the charity is exposed. They have also considered the likelihood of those risks. The steps taken to mitigate those risks have been assessed in the light of both the severity and the likelihood of each risk. Risks have been grouped into the following categories:

The specific risks identified as moderate or severe and possible over the next five years are:

Appropriate courses of action were agreed for each of these to mitigate against the risk.

Covid-19: Throughout the year, the Trustees continued to monitor the impact of the Covid-19 pandemic and took appropriate action where required. The Trustees continue to monitor the impact of the financial constraints on short term and long-term strategic goals and processes of the organisation but do not believe this will affect the charity’s capacity to continue to fulfil its vision and aims.

Kara serves as a physiotherapist in northern Ghana.

Relationship-building is key for ministry in central Africa.

Wonderfully, after over 40 years the first Kafa Bible translation project was completed! A celebration in Bonga, Ethiopia followed the delivery of the first shipment of Bibles.

Part 2: Accounts

Structure, governance and management

SIM International (UK) is a registered charity in England and Wales, and in Scotland. We are a company incorporated on 15 September 1958, limited by guarantee, without share capital. It was originally incorporated as Sudan Interior Mission (United Kingdom) Limited , until mergers with like-minded organisations extended the work elsewhere around the world.

These mergers included:

More on our history : sim.co.uk/about/our-story/

Working names used by SIM International (UK):

These names are used to distinguish us from other organisations worldwide who are signatories to the SIM International Mission Agreement and who are therefore part of the SIM ‘family’. Throughout this document, SIM UK refers to SIM International (UK), the charity registered with the UK Charity Commission and Companies House.

Storytime for a SIM UK mission family serving as teachers in the Middle East!

Reference and Administrative Details

Reference and administrative details of the Charity, it’s Trustees and Advisers for the year ended 30 September 2021 are as follows:

Our registered address is: Registered Company Number: 6 Trust Court 611250 Histon Cambridge CB24 9PW

Charity Registration Number: 219763 (England) SC040432 (Scotland)

The Board of Directors

The Trustees, who are also Directors, have pleasure in presenting their report and the financial statements for the year ended 30 September 2021.

The following were Trustees from 1 October 2020 to the date of this report unless otherwise stated:

  1. Rev. J W Dyer Co-Chair 2. Mr D B Thompson Co-Chair, appointed 27 January 2022 3. Mr B C Chandrasekar 4. Mr D M Heasman Co-Chair, retired 27 January 2022 5. Miss C L Newman 6. Dr C L Reid Appointed 21 April 2021

  2. Mr Y Mengistu Woldegebreal

  3. Mr N R L Younge

  4. Mr S P Smith CEO

Company Secretary

Mr T J McMahon

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Mr D A Silver retired as secretary 28 February 2022.

Independent Auditors Bankers Solicitors Price Bailey LLP Barclays Bank Plc Lewis & Dick Tennyson House 543 Norwood Road 443 Kingston Road Cambridge Business Parl West Norwood Road Ewell Cambridge London Surrey CB4 0WZ SE27 9DW KT19 0DG

Trustees’ Report

Governing instrument

The governing instrument for the charitable company (“the charity”) is its Memorandum and Articles of Association. The charity is a company incorporated on 15 September 1958 limited by guarantee and not having share capital. The charitable company was originally incorporated as Sudan Interior Mission (United Kingdom) Limited.

Subsequent mergers with Andes Evangelical Mission in 1982 extended the work to South America, with International Christian Fellowship in 1989 adding fields in Asia, and with African Evangelical Fellowship (previously South African General Mission, SAGM) in 1998 extended the work further into Southern Africa. The merger in MECO UK & Ireland in 2016 extended the work of the mission into the Middle East.

Structure, governance and management

The governing body is formed by up to 12 directors. A new trustee, on appointment, receives a full briefing on the charity, its governance, its objectives and how these are to be achieved through its vision and purpose. Trustees normally serve for a period of three years and may then be re-elected. The company is governed by a Board of Directors which is entitled to nominate and appoint new directors. The Board usually meets quarterly, and members represent a range of relevant experience including mission, finance, business and operations, and a commitment to Serving In Mission’s vision, mission and values. All directors give of their time freely and no Board director received renumeration during the year in their role.

SIM International (UK) (“SIM UK”) is the UK arm of SIM, the global missionary agency (“SIM”). “Serving In Mission” is a working name of SIM International UK.

Sub-committees

The Board uses sub-committees to help govern the operations of the charity and on which appropriately qualified individuals serve, as follows:

Finance & Legal Committee

Mr D Thompson Chair

Mr P Shelley Dr A Harris Miss K Dryer

Operational Management

The directors delegate the day-to-day operations of the charity to the CEO, who carries it out with the Leadership Team.

Mr S P Smith CEO, UK Director
Mrs D C Agnes Mobilisaton and Operatons Director
Mrs C Blainey Head of Insight and Innovaton
Miss J Cornish Head of Relatonship Development
Mrs H Boxall Head of Mobilisaton
[Positon Vacant] Head of Finance

Trustees’ Report

Staff and Volunteers

The Finance & Legal Committee have responsibility for reviewing the annual salary budget. Proposed changes are recommended to the Board. Salaries are benchmarked, when necessary, against other UK mission agencies. Serving In Mission uses volunteers to assist the key management in the day-to-day operations of the charity. Five regional support groups assist regional mobilisers.

Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). This report is prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities.

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that give a true and fair view of the state of affairs of the charity as at the balance sheet date and of its income and expenditure for the financial year. In preparing those financial statements, the directors are required to:

The Trustees have overall responsibility for ensuring that an appropriate system of controls, financial and otherwise, is maintained. They are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware at the time of approving this report:

Risk management

The Trustees together with the CEO have overall responsibility for risk management procedures. Further information of our risk register is on page 25. Other key controls used include:

Objectives and Activities

Convinced that no one should live and die without hearing God’s good news, the charity exists to assist churches in the UK and Ireland realise the biblical mission of sending and receiving gospel workers who are equipped to make disciples of Jesus Christ in communities where he is least known. This is done by:

• Developing and promoting opportunities for churches to send and receive cross-cultural workers to places where people will otherwise live and die without hearing the good news about the Lord Jesus Christ;

•Training and supporting missionaries so that they are helped to practise integrated biblical discipleship as they proclaim the gospel and seek to live out God’s word where there is no witness.

Our aim

We aim to be an organisation of mission members serving in, to and from the UK and Ireland, who grow throughout their lives in obedience to everything Jesus taught, with increasing spiritual vitality and wellbeing, mentored in personal, theological and ministry competence.

Review of Activities, Future Developments and Plans

The charity has continued to develop its core activities of enabling UK churches to send and receive missionaries, and supporting those missionaries. In 2021 a total of 156 (2020: 153) missionaries served in cross-cultural mission.

At the end of the year there were 125 long term missionaries (2020: 134) and 31 on short term assignments (2020: 19) serving with Serving In Mission, There were 7 missionaries from overseas serving with UK churches (2020: 4). The charity has continued to receive and send funding for numerous projects around the world.

Office relocation

As noted in previous years, the Board decided in April 2018 to relocate the charity offices to Cambridge. The sale of the Wetheringsett site was Completed on 17th January, 2020. Since January 2020 the charity has been renting premises in Cambridge under a short-term rental arrangement to provide a base for operations. After an extensive search, permanent freehold premises in Cambridge were identified in summer 2020 and the purchase was completed on 15th January 2021. When these premises were fitted out, the offices opened in October 2021.

Trustees’ Report

SIM UK’s Purpose and Public Benefit

The Trustees are aware of the Charity Commission’s guidance on public benefit and, in particular, the specific guidance offered to charities for the advancement of religion. The charity’s objects include advancement of religion along with the alleviation of poverty and suffering. As explained in the Objectives and Activities, the charity has addressed a range of such public benefit purposes including:

Fundraising ;

All fundraising communication was conducted in accordance with GDPR legislation, following applicable guidance, policy and procedures. The charity:

Financial Review

Income for the year was £4,248,822 compared to £4,352,079 for the previous twelve months. Given the impact of the pandemic this was a pleasing result. Total expenditure was £4,033,541, a reduction from £4,294,951 in 2020. This was largely as a result of several cost containment measures and reduced staffing introduced by management. Donations for missionaries, SIM ministry, and projects, amounting to £3,870,827 was slightly decreased from the previous year at £4,165,523.

For the year 2021, the Trustees decided that to accord fully with the requirements of SORP 2019, the voluntary contributions provided towards the cost of supporting missionaries and projects (previously named “service charges”) should be treated as income restricted for missionaries and projects.

Weeks has been planned again for 2022 to develop new sources of funds, building on the success of the Giving Weeks in 2021. The move from Wetheringsett Manor to a purpose-built office in Cambridge has reduced running costs and considerably reduces risks to operational expenditure.

Our main funding source is donations from thousands of individuals and over a hundred churches. Most of these give to support missionaries known personally to them. Our experience is that these churches and supporters remain loyal and generous in their support even during economic recession.

Investment policy

The Trustees have approved an investment policy which seeks to balance appropriately between total returns on funds invested and an acceptable level of risk. This is achieved by allocating funds between time horizons.

Short term funds (up to a year) are invested in appropriate cash deposits. Medium term funds (one to five years) are invested in a combination of cash deposits, fixed interest instruments and equity-related instruments not exceeding 25% of the total funds invested for the medium term. Long term funds (over five years) are invested in a combination of fixed interest instruments and equity -related investment.

The Trustees’ objective of ensuring that funds are invested in portfolios that are well-diversified and with a level of risk commensurate with that deemed appropriate, has been achieved through continuing to invest in the Charitrak Common Investment Fund, managed by Blackrock and specifically designed for charities.

Reserves policy

The directors have agreed that sufficient reserves will be held to ensure the sustainability of the charity’s strategy through the general economic cycle. Accordingly, reserves will be held to cover at least 6 months of General Fund expenditure plus any expected deficits over the next two years. The Trustees review the level of reserves on a quarterly basis and consider that sufficient monies are held in the General Funds to satisfy this policy.

Going Concern

The Trustees believe there are no material uncertainties that cast significant doubt about the company’s ability to continue as a going concern and the financial statements have been prepared on this basis.

Auditors

Price Bailey have indicated their willingness to continue in office as auditors.

BY ORDER OF THE BOARD,

Mr. D Thompson, Board Co-Chair 6 Trust Court, Histon, Cambridge CB5 8RS Date: 29 April 2022

As in the previous year the main financial risk remains the reliance on unrestricted donated income. The Trustees keep a careful eye on how this income stream develops and another series of Giving

Independent Auditors Report to the Members of SIM International (UK)

REPORT ON THE AUDIT OF THE

FINANCIAL STATEMENTS

Opinion

We have audited the financial statements of SIM International (UK) (the ‘charitable Company’) for the year ended 30 September 2021 which comprise of the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken during the audit:

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report. We have

nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion :

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the Directors of the charitable Company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, the detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charitable company and how it operates and considered the risk of the charitable company not complying with the applicable laws and regulations including fraud, in particular those that could have a material impact on the financial statements. This included those regulations directly related to the financial statements. This included employment law, financial report and health & safety. The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified; these included the following:

documentation.

We reviewed the risk management processes and procedures in place including a review of the Risk Register and Board assurance reporting.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or noncompliance with regulation. This risk increases the more that compliance with a a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation as to what extent the audit was considered capable of detecting irregularities, including fraud. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsiblities. This description forms part of the auditor’s report.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during out audit.

Use of the audit report

This report is made solely to the company’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body for our audit work, for this report, or for the opinions we have formed.

Statement of Financial Activities SIM INTERNATIONAL {UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763 STATEMENT OF FINANCIAL ACTMTIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2021 Exp•ndabl• Note Unrestrlcted DesSgnated Restrlcted Endowment Fund$ Funds Funds Fund$ 2021 Total 2020 Total INCOME FROM Donalions Legacies Investments 276,672 31,289 12,529 4,833 3.870.827 46.441 4.147,499 4.132,279 77.730 166,599 18,760 46,635 4.833 6,566 6.231 TOTAL INCOME 325,323 3,917368 6,231 4,248,822 4,352.079 EXPENDITURE ON Raising funds charitab￿ actiwt 18,421 350,654 18,421 16,250 4,015,120 4,278,701 26,642 3.637,824 TOTAL EXPENOITURE 369,075 26,642 3,637.824 4.033,541 4,294,951 NET {EXPENDITUREy INCOME BEFORE INVESTMENTS GAIN￿(LoSSEs {43.752) 126.642) 279.444 6231 215.281 57,128 Gain on dtsposal of fixed assets 642,051 Nel gains I Ilossesl efi investments 88.366 88.366 {99.7281 Transfers befvleen funds 20 913 19131 NET MOVEMEKr IN FUNDS 45,527 127.555) 279.444 6231 303,647 599,451 RECONCILIATION OF FUNDS: TOTAL FUNDS BROUGHT FOMARD 19 1.917,089 1.015,569 1,649.149 225,0￿ 4.806,807 4,207,356 TOTAL FUNDS CARRIED FORWARD 19 1.961616 988.014 1,928.Y43 231.231 5.110,454 4.806,807 l incorne and expenditure derive from Contsn￿ng acdvities. The Th)tes cn pages 15 to 38 fomi pwt ot these ffinanci￿ statements.

Balance Sheet SIM INTERNATIONAL (UK) {A Company limited by guarantee. No: 611250) (Charity No- 2197631 BALANCE SHEET AT 30 SEPTEMBER 2021 2021 2020 FIXED ASSETS Taroible assets IntsngIb￿ assets Instrnent5 10 541,695 5.051 960,407 13,989 fj.735 914,9)8 12 1,507.153 935,632 NON CURRENT ASSETS Deb￿￿$ falling due after more th one year 13 120.0￿) 120.OIMI CURRENT ASSETS Oeblofs Investments Cash al bank and wi har 14 141.842 15 923.000 16 2.870.765 125.544 709.716 3.391.562 3.935.607 4.22fj.822 CURRENT LIABILITIES Credrtors.. Am￿ntS f8iliTrJ due within 17 1409,6821 1415,2981 NEf CURRENT ASSETS 3.525,925 3.811.524 TOTAL ASSETS LES3 CURRENT LIABILITIES 5.153.078 4.867.156 NON CURRENT UA81LrrrES Oefined benefrt pension scheme liabilfty 17 142,6241 160.3491 NET ASSETS 5,110,454 4,806.807 THE FUNDS OF THE CHARITY.. Unrestricted funds 085ignated funds Restrided funds ExF¢ThIAbk endowmènt lunds 1.￿.816 988.014 1.928.593 231,231 1.917.089 1,015.569 1.649.149 225.C 19 5.110,454 4.806.807 The note5 on pa9e 15 to 38 form p8rt of Ihese accounts. These accounts are pwar8d In xo)rdanc8 ￿th the SFL¥al provWon50fPart 15 oftheCorrynk8d 2C tts small entititx. Th8 fin8rKd 8t8tem8n18W8re and athcd8•J for bythe ao¥d on 29 ArK 2022 and sW￿d IhEir behl. by.. Mr D Thompson. Tn*t•4

Statement of Cash Flows

A young girl plays with hula-hoops outside her family ger, north of the capital in Mongolia.

SIM UK supports two ministries in Central Asia— church planting and refugee ministry.

Notes to the Financial Statements

1. General Information and Company Status

SIM International (UK) is a Charity that is a Private Limited Company by guarantee, registered in England & Wales (charity number: 219763) and also Scotland (charity number: SC040432). The principal office is 6 Trust Court, Histon, Cambridge, England, CB24 9PW. The 9 (2020—8) members of the charity comprise the Trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The principle activity of the charity is to develop and encourage interest in Christian Missions and, with churches, to train and send missionaries to and from Europe, Africa, South America and Asia. The financial statements are presented in Sterling (the functional currency of the Charity) and rounded to the nearest pound.

2. Accounting Policies

2.1 Basis of preparation

The financial statements have been prepared in accordance with 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard appliable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. SIM International (UK) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at a historical cost or transaction value unless otherwise stated in the relevant accounting policy. The accounts are presented in British Pound Sterling which is the functional currency of the charity, rounded to the nearest Pound.

2.2 Fund accounting

Following the requirements of the Statement of Recommended Practice all the funds of SIM International (UK) have been analysed over the different types of funds which are:

Expendable endowment funds. During the year the charity obtained approval from the Charity Commission to enable the charity to spend the capital from the endowment fund. Previously the capital had to be retained but the income could be spent. Restricted funds. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Unrestricted funds. 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. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.

2.3 Income

Donated services of facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the Trustees’ report for more information about their contribution. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

For legacies, entitlement is taken on a case-by-case basis as the earlier of the date on which: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probably when the amount can be measured reliably, and the charity has been notified of the executor’s intention to make a distribution. If the legacy is in the form of an asset other than cash or an asset listed on a recognised stock exchange, recognition is subject to the value of the asset being able to be reliably measured and title to the asset has passed to the charity. Where legacies have been notified and the charity is aware of the granting of probate, the criteria for income recognition have not been met, then the legacy is treated as a contingent asst and disclosed if material.

2.4 Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by the investment advisor of the dividend yield of the investment portfolio.

2.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probably that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Accounting Policies (cont’d)

2.5 Expenditure (cont’d)

Fundraising costs are those incurred in seeking voluntary contributions. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Redundancy and termination costs are recognised as an expense in the Statement of Financial Activities and a liability on the Balance Sheet immediately at the point the charity is demonstrably committed to either:

Expenditure on charitable activities are costs incurred to enable the charity to meet the charitable objectives of the organisation.

2.6 Pension Costs

Defned contributon pension scheme—employees. The charity operates a defined contribution pension scheme with Scottish Widows for employees of the charity. The pension charge represents the amounts payable by the charity to the fund in respect of the year. The assets of the scheme are held separate from that of the charity in an independently-administered fund.

Defned beneft pension scheme. The charity participates in a defined benefit pension scheme with The Pensions Trust. The cost of defined benefit pension plans and other post-employment benefits are determined using actuarial valuations. The actuarial valuation involves making assumptions about discount rates, future salary increased, mortality rates and future pension increases. Due to the complexity of the valuation, the underlying assumptions are the long-term nature of these plans, such estimates are subject to significant uncertainty. Further details are given in note 23. The provision made in the financial statements is to fund the deficit.

2.7 Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost (including VAT where applicable). A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities incorporating income and expenditure accounts. The capitalisation policy of tangible fixed assets used throughout the year is only assets costing more than £3,000 are capitalised. Where items are bought in bulk, the capitalisation limit of £3,000 applies to all assets within the grouping. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Freehold property—no depreciation charged* Office equipment—25% (reducing balance basis)

No depreciation was charged on Freehold Property during the year as the new building purchased was not ready for occupation under after the year end date. In the previous year no depreciation was charged as the value of the freehold property and surrounding land was significantly in excess of the book value of the building and so any depreciation charge on cost would have been immaterial—this building was disposed of during the previous year.

2.7 Intangible fixed assets and amortisation

All intangible fixed assets are initially recorded at cost (including VAT where applicable). After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided on the following bases: Software—25% (reducing balance basis)

2.8 Operating leases

Rentals under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

2.9 Fixed investments

Fixed investments are a form of basic financial instrument. All listed investments are carried at their fair value. Listed investments in equities and fixed interest securities are all traded in quoted public market. Holdings in common investment funds, unit trusts and open-ended investment companies are at bid price. The basis of fair value for quoted investments is equivalent to market value, used bid price. Asset sales and purchases are recognised at the date of trade at cost. All gains and losses are taken to the Statement of Financial Activities as they arise. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value and are included in the Statement of Financial Activities. There were no realised gains during the year. Unlisted investments are shown at cost less provision for impairment.

2.9 Current investments

Current investments are a form of basic financial instrument, which are shown at cost less provision for impairment. The charity defines these as cash deposits held for investment purposes, that have a maturity date of less than 12 months from the year end.

2.10 Profits on sale of property and investments

Profits on sale of property and investments are credited to the Statement of Financial Activities on a receivable basis. Investments are included in the Balance Sheet at their market value, and any unrealised gains/losses are included on the Statement of Financial Activities.

2.11 Debtors

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

2.12 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probably that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt of the amount it has received as advanced payments for the goods or services it must provide.

2.14 Contingent liabilities and assets

A contingent liability arises from a past event that gives the charity a possible obligation whose existence will only be confirmed by the occurrence or otherwise of uncertain future events, not wholly within the control of the charity. Contingent liabilities also arise in circumstances where a provision would otherwise be made but either it is not probably that an outflow of resources ill be required, or the amount of the obligation cannot be measured reliably. A contingent asset arises where an event has taken place that gives the charity a possible asset whose existence will only be confirmed by the occurrence or otherwise of uncertain future events not wholly within the control of the charity. Contingent assets and liabilities are not recognised in the balance sheet but are disclosed in the notes.

2.15 Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction values and subsequently measured at their settlement value, which is their cost with the exception of fixed assets and intangible fixed assets which are recorded at depreciated historical cost. In addition, investments are recognised at their fair value, being the market value. The cost of investments and their market value (being fair value) are disclosed in note 12.

2.16 Going concern

The accounts have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the level of expected income and expenditure for the 12 months from the date of signing these accounts and are satisfied that the charity will continue as a going concern. The Trustees have considered the effects of the COVID-19 pandemic and consider there is no material impact on the charity. Therefore, the Trustees continue to adopt the going concern basis in preparing these financial statements.

2.17 Estimates and significant accounting policies

In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to

inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

2.18 Government grants

Grants are recognised when receivable. In the event that a grant is subject to fulfilling performance conditions before the charity is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period.

2.19 Taxation

The Company is considered to pass the tests set out in paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable Company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within the categories covered by chapter 3 article 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of the Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Workers in Loja province, Ecuador, sharing fresh produce with neighbours during the Covid-19 lockdowns.

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 DONATIONS Unwstrlct•d R•sts1et•d Expèndabl• Endowm• TOTAL 2021 DC)8tk￿)s lor ￿$s￿nar￿5 Don3￿n$ lor ProjÈets Donat￿nS for VA'nistry Unreslricted Donat 2.885,909 749.542 235,376 2.885.Y)9 749.542 235,376 276,672 276.672 276.672 3,870,827 4,147.4#9 Donat￿n5 have been reslat&J belcw fcr 2020. See delams on the ¢an￿ made on restatement ￿ note 28. Unr•strl¢t•d R•strld•d Expond*bl• Endowm¢fit TOTAL 2020 Donations for ￿$sk)naTIeS DonatK)ns lor Projècts DonatK)ns for Ministy Unrestricted Donations 2,733.938 941,541 213,372 2.733.938 941.541 213,372 243,428 243.428 243.428 3,888,851 4,132.279 INTEREST ANO INVEsTheNT INCOME Unrestrl¢t•d R•strld•d Exp•ndth• Endowm•nt TOTAL 2021 Interest receN8b Investment In¢¢xne 12.222 307 12.222 6.538 6.231 12,$29 6.231 18,760 UThrHtrlct•d R•stslct•d Exp•nd•bl• Endowment TOTAL 2020 Interest receNab Investment income 26,385 13.368 26,385 20,250 6,882 39.753 6.882 46,635

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 SURPLUS FOR THE YEAR Total 2021 T¢tsl 2020 Th59 Is stated after ¢￿rgIn￿¢red1tbn9. Gain ILossl exchange Depreciaticffi ol Fixed Assels Arnortisal'on of intangibbe Assets Operatiro Lease RentaL8 on equipment Prior year Auditors. remuneration li￿ VAD- audit Current year Audiltrs. remurterat￿n lin¢ VATI - audrt Currènt year Audiltrs, rèmunèratk)n linc VATI- rK)n ath1it 2,644 7,649 1,684 2,336 3.742 1.175 2.245 2,359 12,600 9,360 1,140 ANALYSIS OF EXPEND￿uRE BY ACTivrrY Dlr•ct Costs Suppart costs Inole 71 TOTAL 2021 Cost of rat￿ng funds Charltabl• aetl¥ltl•s: MissM)nary SUFPNt Member care Minislry Projects lthilisation 18.421 18.421 2,369.768 363.964 182.227 748,507 212.742 62,060 2,431,828 363.964 196.019 769,193 254,116 13,792 20,686 41,374 3,877208 137,912 4.015.120 3.877,208 156,333 4,033.541 Analpls of •xp•ndlturn by xtlvlty- prktrr yMr R•$tat•d RgStal•d R•$tst•d Dlrect Costs Support costs Inot• 71 TOTAL 2020 Cost of raigng funds Charltsble actlvltbeg." Missx)nary supKK)rt 16.250 16.250 2,277,917 404.8 243,390 810,248 2Eé,998 123,866 2,401.783 404.8 270.916 851.536 349.576 Ministry Projecls *iILsa 27,526 41,288 82.578 4.003,443 275,2S8 4378.701 4,003.443 291,508 4294.951

SIM INTERNATIONAL (UKI (A Company lirnrted by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 J4ALYSIS OF EXpEND￿uRE BY ACTIVITY {contIn Mi55Kmary sUp￿rt reyesents Ihe direct e￿￿e5 sUP￿rt Costs of B Mis￿Onary rnem￿r or worker servina o¥erseas or in the UK. Member Ca￿ incI￿je$ the o)sts Ir￿rred by the UK off￿e in suppybng 8 mi8sion8ry. The costs ol SIM UK supp(￿tIng Specif￿ glob81 minBtries are included under Ministries. the costs ol specific SIM UK pr4ects under Proiecls. and the costs inujrred in spreading tt)e vision. mLJilisino new missw)naries and supports.no them as they ready to seThe are inclu(le(l under mc+jil1satsL￿. Sèè furthèr d8tsi on thè changés mada on rèsts1￿tnt In Mt• 28. Expenditure indudes £369,075 from unrestrthd funds12020 ￿stated.. £558.5061. £26.642 from deS¥nat￿ fvnds12020 reststed.. £39.0221. £3.637.82412020 restst&Y.' £3.697,4231 from resln'cled fijnds and nil12020.' £nill from expendab￿ endovrnent fun¢Js. 12020.. £nill. SUPPORT COSTS Ralslng Mlsslomry fund Support TOTAL 2021 Mlnlstry ProJ•¢t• Moblllsotlon man￿Ment Communica￿"0nS 01r￿e administrat￿n Finance Govema 12.304 11.2 20.284 7,378 10,804 2.734 2,510 4,508 1,639 2,401 4,101 3,764 6,761 2,459 3,601 8201 7.528 13.523 4,919 7203 27,340 43,513 45,076 16,395 24,009 18,421 18,421 61060 13,792 20.686 41.374 156,333 sup[￿￿1 ulsts have been restoled bek)w fcf 203). See t1etails on the cat)oes m8t1e on tatement in note 28. RalsTng MSsslonary fund5 Support TOTAL 2020 Mlnlstry ProJ•ets Moblllsatltsn Manwent Communications Off￿e administrati)n Finan Govemarte 51.389 13.329 37,892 15.586 5,670 11.420 2.962 8,420 17,129 4,443 12,631 5,195 1,890 34259 114.197 8.886 45.870 25,262 84,205 10,391 34,636 3,780 12,6LXJ 16,250 1,260 16.250 123.866 27.526 41.288 82.578 291.508 GOVERNANCE cosrJ Total 2021 Totsl 2020 yeAr Auditors. rèmuneraik)n linc VATI- audrt Current y8ar Auditor5. remU￿rat￿)n I1￿ VATI- Current year Auditors. remureratk)n (Ir￿ VATI- r￿n strateg￿ plgnning cosls 12,6rKI 9,360 1.140 13.510 24,010 12,61

SIM INTERNATIONAL (UK) IA Company limited by guarantee. No: 611250) (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2021 STAFF COSTS Slaff costs as Ic4k)ws'. 2021 2020 Ways and salarlas Soaal security costs Pension o)5ts 466.531 33.385 53.479 5B4,707 39,459 69,025 Total 553.39S 693,191 The a¥w8ge nwnberof persons emF&)yed by ¢￿9rty during the year w8s 85 lob￿.. 2021 2020 Man8oement Mobilis81ic Administratic 12 15 13 Total 2S 1 empb)yee 12020.. none) rec￿Ve￿ remunerath)n bet¥en t60.(M)0 - £70,000. M3 employee rt(ived remun&raih)n above £70,000 in thther year. During the year no ￿UndanCY pa￿mentS wEre made to any empbyees12020". 61 totdling £Nil 12020.. £48,066>. These paylnents in theprevKJus year were 8Uthorised for payment in 8 meeting of Ihe Tnjstees and reLated to stsff leaviNJ due ￿ ihe movè ol ￿jan￿￿t￿.S Operat￿nS to Cambndge. KEY MANAGEMENT PERSONNEL The charity eonslders Its key management personnel to eomw6se of 6 ￿le. Djrlng the yeAr. Ihe total empb)yment benefits ol these 6 key management personnel, induding ￿181 security and p*n$￿)n was £227,12512020.. £221,7881. Further d8taik& of rtlaléd party staff costs havè disdos&1 In thè Rèla1￿ PAty Tr8rtsactTrJns rKJie 27.

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 10. TANGIBLE FIXED ASSETS Freehold property Equlpmont Totsl Co•t At 1 Odober 2020 A￿￿￿On$ C*'swJsak5 14.446 530.645 205,082 4.710 219,528 535.355 At 30 Septemb•r 2021 5,091 209,792 754,883 D•prnel•tlon At 1 October 2020 Charge lor the year On DisrKB815 3.983 201,556 7,649 5.539 7.649 At JO S•pt•mb•r 2021 3,983 209,205 213.188 N•t book valurt At 30 Septertjef 2021 541,108 587 S41,695 At 30 September 2020 10.463 3,526 13,989

SIM INTERNATIONAL (UK) (A Company limited by guarantse. No= 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDEO 30 SEPTEMBER 2021 11. INTANGIBLE FIXED ASSETS Softwarn Tothl Cost At 1 October 2020 Addthons D6sFosals 28.384 28.384 At 30 S•pigmb8r 2021 28.384 28.384 knortls•tlon At 1 Oclober 2020 Ch8rye lor the year On DisF4JsaLs 21,649 21.649 At 30 Sepi•mbar 2021 23 J33 23.333 Net 1>0ok v•lu• At JO Soptrtmb•r 2021 5,051 5,051 At 30 September 2020 6,735 6,735 12. FIXED ASSET INVESTMENTS 2￿21 2020 Unll$t•d In¥•stm•nts Cash d8F#Jsits ma￿rIng > 12 monlhs 243,000 285,867 Llsi•d Inv•%tmgnts At m8rket Value At 1 Oclober Unre811s￿ g8in I Ilrtssl 629.041 88.366 728.769 199.7281 At 30 Septertjer 2021 717,407 629.041 Totsl Flx•d Asget Imi•s¢m•nts 0.407 914.9)8 JI investments are carried 8t Ihwr fwr Y&￿e. cost ofthe Isled inVeStrn￿LS i8 £559,89612020.. £559,896).

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 13. NON CURRENT ASSETS 2021 2020 Loan to ExeeulNe Ql"rector 120,000 120.000 Thks rèrÈsénts a loÈn that was malè to thè Exatsjt￿a Dirèctr in 2013 urrfjn commértèménl of their role al the charity. The was made lo enab￿ the Ex￿UtiVe th'rector to rel￿ate wlhin Ihe UK the purrtses of their ro￿ and is secured ag￿nSt Ihe reshlenti81 propety ol the Executive th￿tor. Inte￿8t is charged ￿ the k)an. bjt the charity has the optKin, if it so ishes. lo requesl repasynenl at a revw1 rate based on an indewdent valualM ol the Pfoperty, at the ts.me ol sde. 14. DEBTORS 2021 2020 [￿e fr(m SIM Off￿es Other debtors MissKJnanes' Personal Funds (see r￿le 181 Prepayments & accrued Income 30,001 87,559 1,846 22,436 31.235 30.232 719 63.358 141,842 125,544 CURRENT A8SET INVESTMENTS 2021 2020 Cash deposits m8iuring < 12 months 923,OlJO 709,716 16. CASH AT 8ANK AND IN HAND 2021 2020 Cash dèposlts 2,870,785 3.391,562

SIM INTERNATIONAL (UK) (A Company limited by guaranto0. No: 611250) (Charily No: 2197631 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 17. CREDrroRS 2021 2020 Oue to clher SIM offices TaxatK)n & Social SecJJrity Olher Credrttsrs miss￿)narIes. Personal Funds Iseè rth 181 Accruals & Deferred IncAne Pènsion De[￿l Isèe ￿1& 231 79.703 25 116,496 147,893 49,250 16,315 89.081 12.5L 116.654 147.668 33.579 15.810 415.298 Amounts due after one year Pen￿c￿ De￿"t Isee Tr)te TJI 42,624 18. MISSIONAWES PERSONAL FUNDS 2021 2020 Bdance at the beginniry of the sear Aj￿Wan￿S and translers 146.950 813,464 153.809 867,104 9fA),414 1,020,913 Lass.. payM￿tS Irom pÉfsonal aCc￿ntS {814,3671 1873,964} Balance at thrt end of th• ￿r 146.047 146.949 Missh)n8ries' Person￿ Funds- Debtors- Th)le 14 MisS￿narIes. Personal Funds- c￿lI018- ￿L￿e 17 11.8461 147.893 17191 147.668 B•l•nc• at th• •nd of th• y• 146,047 146,949

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250 (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 19. STATEMENT OF FUNDS l¢onllnugdl Expendable endowment luo)d: The endowment fund was re￿Ve11 by the charrty wrth the instnJciThs to be uset1 towards SIM Dart￿1 rninisth"8s. During the year the charity Obtained approval frorn the Charities C(KnmI￿0n lo enable the charity to spend Ihe capital fr(Kn the eTrJ(Ywmenl fuTrJ. Pre¥iyJsly the capilal had lo be retsined but the income cwld be spent. Tr•n$fers and Reelasslflcatlons The transfers in the year frorn thè Str8tÉgy Fvnd to GÈnérÈl and As￿1 FuThls rèfiècl wrchasè of8S5ets associal•Y wth the move to Histon. The transfer frfrn Missiw8ry Supprt tothe Projects Fund idates to amounts alkxate(I from Memters. funds in SUpy￿ of prqect expendrture. In ihè prior year transfers Include a RedaSSif￿atltin ol Fumls from DespJn8ted 10 Restrthd. This was to change the dassif￿atiOn of the opening Ministy fund from Desh3natal to Restricted lo better refiect the current nature ofthe fund and the expectstions of(kJncvs in gNing tothe Ministry funds tsl Mem￿Ts. ANALYSIS OF NET AsseTS BETWEEN FUNDS Exp•ndabl• Unr•strkt•d Ih£lgnated R5ts1ct•d Endowmenl 2021 Fund• Funds Funds Funds Total Fundg Tangl￿& Fixad Assets Intan9iblè Fixéd Assets Investments Ncffi Current Assets Current Assets Current Lrdbilils LON4 Temi LIa￿"￿t￿$ 541,695 5,051 735.407 120.￿) 1,012.769 1409.6821 142.6241 541,695 5,051 ).407 120.0¢)0 3.935.607 1409.6821 142.8241 225.(lJO 988,014 1.928,593 6.231 1,962.616 988.014 1.928.593 231.231 5.110,454 Exp•ndabl• Unr•strkt•d IJ•slgnat•d R•stsletod Endowmonl 2020 Funds Funds Funds Fund5 Total Fund5 TarKJiNe Fixed Assels Intan9ible Fixed Assets Investments Non Current Assels cu￿eTrt Assets Current Lpbilit Long Temi LIa￿"￿"t￿S 13.989 6.735 6￿,7 120.000 1.555.222 1415.2981 160.3491 13,989 6,735 914,908 120.0(MI 4.226.822 1415.2981 160.3491 218.118 1.015,569 1.649,149 6.882 1.917.089 1.015,569 1.649.149 225.000 4.806.807

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 21. RECONCILIATION OF NET MoveiiENT IN FUNDS TO NET CA8H FLOW FROM opeRAnNG ACTIVITIES 2021 2020 Net incomelexpenditure the year 303,647 599,451 Depreckqtion Loss I Iwofftl on Sa￿ of syoperty, plant & equipment Amorti5a*'on IG8inl I h)ss on investm￿ts Inte￿st and investment income Decrtase I linC￿aSe) in debtixs IDÈ(xÈasèl l intrèasè in extdiiors 7.649 1.175 {642.0511 2.245 99.728 146.635 82,755 161,516 88.3661 18,7601 116,2981 23,3411 Not cash provlded byl (used Inl operadn9 a¢15￿11 166,215 35.152 ANALYSIS OF CHANGES IN NEf DEBT 1 October 2020 Cuh flows 30 Septwnber 2021 Cash at bank ar￿ in hand C8sh depwts maiuring < 12 rmnths Cash deposts maturing > 12 months 16 15 12 3,391,562 709.716 285.867 1520,7971 213.284 142.8671 2,870,765 923.(M)O 243.￿0 4,387,145 1350,3801 4,036.765

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 23. PENSION COMMtrMEI Defined contrlbullon penslon $¢heme The charity oper8tes a defined contributM)ns [￿slon gcheme for 1912020- 251 empbses. The assets ol the schem8 are held 58p8ral8ly from I￿)58 of the charity in an independenuy administer￿ lund. The ￿n$1￿ cosi charge represents conknbub.ons payab￿ by the charity io 1he fund and amounted 10 £5.05912020.. £4.4041. Contributions ioialliw £8(X)12020.. £7591 were payable to the fund ot the baLfjn￿ sheet date and are I￿1￿j&j In cr￿jit(￿S. Defined benefft p8n51on 5ch•mo The company participaies in the sth￿8, a mutti-emrknyer scherne providès tenefits 10 som8 950 Th)n- associated particlpatiThJ eM￿￿er$. The scheme is a defined benefrt stherne in Ihe UK. It B not Possib￿ ICY the company lo obtain sufficient infom)ats"on to enable rt to account for the scheme as a defined benefrt sclwne. Thereftye. it ￿c￿Jnts for the scheme as a ijefined C￿tr￿Ul10Th scheme. The charity has 1 munber12020- 11 h the scheme and 11 deferrad m￿be[s{2020- 111. Th8 rnbe￿ are not erndoyees ol thè charrty, rnissionartes. Aconts"ngent lkqt4.lity has been disLised ) rdats.on to the ￿￿￿11￿1 li8￿"￿ty0Tr the members leavino the $C￿Me. see nole 24. The scheme is subject to Ihe lundinq leqislation in the PensM)ns Acl 2004 which came Into lorcec4130 December 2CQ5. This, tO9elher d¢)oJments issued bythe Pensions RegulatLY and Technul Actuarial Standards issued by the Financial Rewrtino Cc¥Jnul, set Ihe frwnework for fu¢)ding defined benefit ¢Xcupats"C￿aI pension schemes in the UIQ The scheme ts classrf￿d as 8 'tast-m8n standinq arraroemenf. Therefore. Ihe company is pot8ntially Ik4tAe for oth8r parllap8tirg ern￿oYerS. oblwJ8tions if those empkiyers are unable io meei share ol Ihe scheme deficit I￿k)wIng wlhdrawal Irtsm the scherm. Partiepabng ern￿oYerS are Wlly Nuired lo meet 1heir share of the scheme delWt on an annuity purchase be￿$ on wthdr8w81 from the scheme. A ftjll pLtU8rkql Va￿at￿)n lor the scheme was caffied at 30 September 2017. This ValUat￿n sho%41 assets of £794.9rn. 1i8tMlitTres 01 £926.4m a def￿rt of £131.5rn. To ehrninate thls fundinq shortfall. Ih8Trusle8 has 8skÉd participatirvJ èmplosts to pay addiilortal eantrMJtins to Ihe scheme as folh)ws.' Defic￿ ¢ontrlbutlon4 From 1 April 2019 fr7 31 January 2025.. £11,243,[￿o w annum (￿Y8t4• monlhly Incfèarg by 3% Ich on 1st Awil} Unless 8 c￿CessI)n h8s been 8greed wth the Trustee the lemi to 31 J8nugry 2025 8FWies. Note Ihat the stheme's prevk)us V81u8tion was carried out wth an effective date of 30 September 2014. This Valuat￿ sh(￿ved assets 01 £793.4m. liatx"lities 01 £￿9.9M and a deficit of £176.5m. To eliminate this funding shortfall. Ihe Tfustee has aske(I the Par￿C•pa￿"n9 empktyers lo pay addit￿&1 C(￿t￿"bUt￿nS lo the scher* as lomows..

SIM INTERNATIONAL (UK) (A Cornpany lirnrted by guaranteo. No= 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 PENSION COMMfThiEpifs {eontlnu•d) Deft¢lt ¢ontrllMrtlon From 1 April 2016 10 30 September 2025.. £12.945,440 per annum [paYa￿e MC￿thIY and inueasing by 3% each on 1st April) From 1 Ar￿1 2016 10 30 September 2028.. £54.5KJ per 8nnwn Ipay8tAe mmthly and inrxeasin9 by 3% eath on 1st April) The recory plan contrbulions are alkxated to each parthipaung employer in Ilne ￿1h the estsmated Sh￿ of the Series 1 and Series 2 scheme liabilities. Where the scheme is in def￿rt 8nd vthere the cNnpany has &Jreed to a def￿11 ftjnding aftarwnent thè eompany ree(>Jnisès a Ikability for this oblSg8tion. The am￿nI recognistd is thè nel present value ol the deficit reducty)n C(￿1n"￿￿t￿>Th$ payable under the agreement ihat reLales the ￿e[￿rt. The p￿sent value is calculated using the discount rale detailed in these ¢JiSdosu￿s. The unwrmjing of the disccxjnt r8te L8 recognised 8$ 8 fin8nce cost. PRESENT VALUES OF PROVISK)N 30 S•pt•mb•r 2021 JD S•pt•mb•r 2020 30 S•pt•mb•r 2019 Pr8SÈnt value ol pro￿$10ft 58,939 76,159 85,633 RECONCILIATION OF OPENING AND CLOSING PROVISIONS 30 S•pt•rnbor 30 S8ptsmber 2021 2020 ProviSKJn at slart of perioy Un%indin9 of the diswunt faraor lintere5t eyngel Delicit contributK)n pahl Remeasurements- Impact ol any ehaNJe ) assumpti)ns Remeasurements- amendments lo the contribution schedule PrOv￿￿)n at eTrJ of per 71.552 85.633 757 115,4491 5.218 115,9131 2,934 58,939 76,159

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 23. PENSION COMMrrMENTS leontlnu•dl INCOME AND EXPENDITURE IMPACT 30 September 30 Sept•mb•r 2021 2020 Intèrest exwsè Remeasurements- IMp￿t of ￿Y change in assuMp￿n5 Remeasurements- amendments lo Ihe cC￿￿"but￿)rt schedu Contributi￿$ in respect of luturÈ servits" Costs recconi8ed n inccvne arid expenditure acccNJnt 366 11281 757 611 'irKludes defined c(ntritr4Jtion scherne5 and future sery￿e o￿tribUtI)￿ li.e., excludThJ any defKil reduclion payments) lo defined benefit schemes are treated as defined cantrt schemes. To be by the cornpany. ASSUMPTIONS 30 S•pt•mb•r % per annum 30 S•pt•mb•r % per annum 30 S•pt•mb•r % per annum Pretsenl of proisi O_72 The di8(x)unt rates th)wn above are the equivalent single di8o)unt rates whth, wthen us&J to discount the fulure recovery plan contribLrtions due, w￿jId give the same ￿￿J11S as using a full AA ¢orptr8tr tM)nd yieKI cur to dis¢ounl Ihe same reoivery Ca)nIribUt￿n$.

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 PENSION COMMrrMENTS leontlnuèd) The followin9 Schedu￿ detaiLs Ihe deffiert c￿tn.￿jtIc￿s a9reet1 be￿￿en the company and the scheme 81 each year end perifyy.. DEFICIT CONTRIBUTIONS SCHEDULE Year Endlno 30 S•pt•mb•r 2021 Jll S•pt•mb•r 2020 JO S•pt•mb•r 2019 Yew1 16.3 16.882 17.388 5.882 15,913 16,390 16.882 17,388 5.882 15,449 15,913 16.390 16,882 17,388 5.882 Yèar 2 Year 3 Yea( 4 Year 5 Yèar 6 Year 7 Yeaf 8 Yèar g Year 10 Yeaf 11 Year 12 Year 13 Yew 14 Year 15 Yéar 16 Year 17 Yeaf 18 Yèar 19 Year 20 Thè company must recognisÈ a liability mèAsurÈil as thè prèsènt valuè of thè tontributitins payable that arise frcmn the defKii reo)¥ery agreement aThJ Ihe resulting expense in the income and expendilure accojnl i.e., ofthe discl￿nI rate as 8 finance cost in the Per￿ in ich it arises. It Is thèse eAjntn"trt￿0rts that hÈvÈ beèn us&1 trj dèrfvÈ thè eomrAnY$ shÈÈl liÈbillty.

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 CONTINGENT LIABILITY At 30 September 2021 Charity had a ts)nb"ngent Ik?tM"lrty #i reLatk)n to thè dèfine(I benèfit pen￿on ¥heme. vthich tre lrigaered if the pLtwe memtrw were lo le8ve the scherne. The charty ￿Ceiv￿ an esbmale of the buy-otjt value from the pension provbder which was quoted at £150,(%￿ as at 30 September 2020. The trustees do not cOns￿eT that this would have malerialy changed as ai 30 Septernber 2021. After Ihe year el￿. in Oettsber 2021, thÈ Trustèès sèt asidè a de5￿Jn8ted lund to cover this potenthql li8bility- 25. OPERATING LEASE COMMITMENTS LESSEE: At 30 September 2021 the total of Ihe Charit￿S futu￿ mini)um bease pawnents urKJer nor rAnceUAtA8 0￿rA￿"￿ ￿ttS WAS.. 2021 2020 Equlpm•nl Within 1 yèar Be￿een 18TrJ 5 years After more Ih8n 5 years 2,336 4,177 3,171 6,513 11.255 2& CAPITAL COMMITMENTS At 30 Sèptémbtt 2021 thè total ol Ihè Chartty had eaplla eJ)mmlknènts As 10kn￿.. 2021 2020 Contr8cl&J ts t￿lkIng w)rks on the regiSler￿ offke premlse 102.367 27. RELATED PARTY TRANSACTIONS Mr. S Smith, a Trustee. was wployed during the year in the rc4e of Executive Director and the munerat)n package totalled £61.308 12020.. £51,094) lor the year indudirKJ £4.10712020'. £5.0651 in rs￿¢t of ￿n$￿tin C￿)Inbut￿1￿s. The rèmUnèrat￿Jn packa￿ is in line vthh thè emorandum & Arbdes of Associ8tirn cLguse 5lbl for semces provid￿ to the charity. W. S Smilh not receive any rernunerat￿ in respect of thwr role as Trustee. Dr C Reld, a Tnjstee, aThJ her sp)use received £8.894 for monthly livirg expenses in relati￿ to their rcAe 85 SIM M￿n￿￿[S and were ￿mbUr$￿ £361 01 eX￿nSeS in cnnnection vAth ministry Ircm ch8rtyfuThJs. Dr C Remj not fecewe anyrenumeralion in respecl of their role as 8 Trustee. Mrs. E si￿. thè 5r￿se ol Mr. D Sifv, É mèmbèr ol kèy managÈmÈnt, rac£i¥ed £780 lor work in reiqtion 10 8 d(tUMenl8ti￿ inwobtment [￿Olect. No other Trustees ￿e1¥£d any emoluments dunno thts year (* lasl there were no Trnstee expenses 1rtuft￿ in èther 2021 ¢y 2020. Included wthin note 13 is a loan lo the Executive Directrf, vthich is secured against the sidenlial woperty. See further details in Note 13.

SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 PRIOR YEAR RESTATEMENT Lhjring the year the Trustees wonwdered trhe &naI￿LS of the ir￿OMe. expenditure and transfers in the Financial Slatemenls ant1 the ￿quIrementS ol the Charilies SORP. Accordingly, Ihe Tmslees have restated member care seThices and disdose(1 It within restn.cted income and expendhure. CharoÈs hÈv8 Èlso bèèn m&lÈ ts thè AnaI￿l of ÈxrThliiurè behI￿n dirtt and supwt costs. In addith)n, thè Trustees have also reconsidered the Wesentat￿n of Ihe Cash Flow Slatement the rèlatèd recontilLatMin of net mtsvemenl in lunds to nei eash fkjw fr(Mn opèrab.ng aeliv￿.￿S in note 21 ¢0 ensure Ihis is in line wth the latest Ch8fEties SORP and FRS102 ￿quIreMents. Overall. there is no effect the surF4us (K on fund balan￿ for the pnor year. See t)ote 19 for Ihè Statemènt of Funds and sèe notè 29 a fèstatéd Comparab"vÈ SiAtèmènl of Financi81

SIM INTERNATIONAL (UK) (A Company limited by guaranteo. No: 611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021 COMPARATIVE STATEMENT OF FINANCIAL POSITION (PRIOR YEAR RESTATED) Exwnd•bl• R•stat•d Not• Unr•strlCt￿ D•slgnatod Rèstrletèd Endowmènt 2020 Funds Funds Funds Funds Total INCOME FROM t%)naii¢Y)S Legacies Investments Othef incc4ne 243.428 155,823 39,753 6,566 3.886.851 10,776 4.132.279 166,599 6,882 46,635 6,566 TOTAL INCOME 445,570 3.899.627 6.882 4,352,079 EXPENDITURE ON Raising funds charilab￿ activit￿9 16,250 542,256 16,250 4,278,701 39,022 3,697,423 TOTAL EXPENDMJRE 558.9)6 39.022 3.697,423 4294,951 NEf IEXPENDITURey INCOME BEFORE INVESTMENTS GAINSIILOSSESI 1112,9361 (39.0221 202.204 6,882 57.128 Gain on disposal of fixed assets 642,051 642,051 Nel gains I Ilossesl on investments {99,7281 199,7281 Transfers behveen fuThJs 3,435 {230,4941 227,059 NET MOVEMENT IN FUNDS 432,822 {269,S161 429,263 8,882 599,451 RECONCILL4TION OF FUNDS: TOTAL FUNDS BROUGHT FORWARD 19 1.484,267 1.285.085 1.219,886 218,118 4,207,356 TOTAL FUNDS CARRIED FORWARD 19 1.917,089 1,01 S,$69 1,649,149 225,000 4.806,807

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JC, HRD, ‘22
SIM International (UK) — Registered Charity No. 219763
Charity Registered in Scotland No. SC040432
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