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|CONTENTS|||PAGE|
|---|---|---|---|
|Report ofthe|Council|of Management|1-6|
|Reference &|Administrative
Information|||
|Independent|Auditor's|Report|8-11|
|Statement
of|Financial|Activities|12|
|Balance Sheet|||13|
|Cash Flow Statement|||14|
|Notes to the|Financial|Statements|15-26|
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|||||Unrestricted|Unrestricted||||
|---|---|---|---|---|---|---|---|---|
|||||General|Designated|Restricted|Total Funds|Tota! Funds|
|||||Funds|Funds|Funds|2023|2022|
||||||||6|6|
|Income from:|||||||||
|Donations
and gifts||||142,359|3,462,269||3,604,628|3,868,508|
|Legacies||||90,421|10,000|24,000|124,421|142,101|
|Charitable
activities||||50,980|||50,980|1,853|
|Investments||||31,411|||31,411|25,502|
|Total income||||315,171|3,472,269|24,000|3,811,440|4,037,964|
|Expenditure
on:|||||||||
|Raising funds||||14,322|||14,322|3,601|
|Charitable
activities||||702,297|3,367,478|24,000|4,093,775|3,525,158|
|Total expenditure|||5|716,619|3,367,478|24,000|4,108,097|3,528,759|
|Net gains/(losses)|on|investments|9||(87,523)|-|(87,523)|21,097|
|Net income/(expenditure)||for the|||||||
|year|||6|(401,448)|17,268||(384,180)|530,302|
|Transfers
between|funds||||||||
|Service charge|||13|342,640|(342,640)||||
|Other transfers|||13|(523,016)|523,016||||
|Other recognised|gains/(losses):||||||||
|Gains on revaluation||offixed asset|8||85,654||85,654||
|Net movement
in funds||||(581,824)|283,298||(298,526)|530,302|
|Reconciliation
offunds:|||||||||
|Total funds at 1 April|2022||13|732,944|2,548,416||3,281,360|2,751,058|
|Total funds at 31 I)larch||2023|13|151,120|2,831,714||2,982,834|3,281,360|
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||||||2023|2022|
|---|---|---|---|---|---|---|
|||||Note|6||
|Fixed assets|||||||
|Tangible assets|||||936,737|1,082,188|
|Investments|||||1,620,990|1,175,557|
|Current assets|||||||
|Debtors||||10|115,597|191,217|
|Cash at bank and|in hand||||386,786|881,210|
||||||502,383|1,072,427|
|Creditors: amounts|falling||||||
|due within one year|||||(77,276)|(48,812)|
|Net current assets|||||425,107|1,023,615|
|Net assets|||||2,982,834|3,281,360|
|FUNDS|||||||
|Unrestricted
funds|||||||
|General funds||||14|151,120|732,944|
|Designated
funds|(including|revaluation|reserve of6236,882|14|2,831,714|2,548,416|
|(2022:6198,447))|||||||
|Total funds|||||2,982,834|3,281,360|
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||||||2023|2022|
|---|---|---|---|---|---|---|
|||||Note|6|6|
|Net cash (ouNow)finflow||from operating|activities|15|(210,176)|308,680|
|Non-operational
cash flows:|||||||
|Investing
activities|||||||
|Proceeds|from the sale|of property|||225,000||
|Payments|for purchase|of tangible fixed|assets||(7,703)|(30,939)|
|Payments|for purchase|of investments|||(281,131)|(169,752)|
|Proceeds|from the sale|ofinvestments|||183,393|198,901|
|Investment|income||||31,411|25,502|
||||||150,970|23,712|
|Net cash inflow/(outgow)||for the year||16|(59,206)|332,392|
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|||||||||||Total Funds|Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||2023|2022|
||||||||||||5|6|
|Sale oftrading||items|||||||||520|1,223|
|Conferences|&|house|parties||||||||50,460|630|
||||||||||||50,980|1,853|
|All charitable|activity income||||in both 2023 and 2022 is unrestricted||in nature.||||||
|Investment|Income||||||||||||
|||||||||||Total Funds||Total Funds|
||||||||||||2023|2022|
||||||||||||5|5|
|Interest receivable|||||||||||2,549|148|
|Investment
dividends|||&interest||||||||28,862|25,354|
||||||||||||31,411|25,502|
|All investment|income||in|both|2023 and 2022 is unrestricted|in nature.|||||||
|Expenditure|||||||||||||
|Costs directly||allocated to|||||o
o .ig
e e
w u
w o
Ot ra|m 2' e
ESE
24 c 0
ix o||e
O|o E'
4C g
0aa
ro|Total
2023|
|activities||||||||||||8|
|Missionary
support|||||||Direct||||3,359,384|3,359,384|
|Mission field|grants||||||Direct||||78|78|
|Deputation
and||field travel|||||Direct|2,348|||33,579|35,927|
|UFM magazine||and literature|||||Direct|5,957|||17,873|23,830|
|Publicity and|advertising||||||Direct|3,453||||3,453|
|Conferences|and house|||parties|||Direct||||64,346|64,346|
|Trading
items|||||||Direct||400|||400|
|Audit fees|||||||Direct||||||
|Support costs||directly|||||||||||
|allocated to|activities||||||||||||
|Staff costs|||||||Usage|1,799|||514,321|516,120|
|Office expenses|||||||Usage||255||72,886|73,141|
|Investment
management||||fees|||Usage||28||7,861|7,889|
|Depreciation|&|loss on disposal|||||Usage||48||13,761|13,809|
|Governance|||||||Usage||34||9,686|9,720|
|||||||||14,322|||4,093,775|4,108,097|
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|Expenditure
-Prior year|comparative||||||
|---|---|---|---|---|---|---|
|||C|||||
|Costs directly allocated
activities|to|o .o
e
e o
e
ta re|mu e
E t5
'e 5 o
C
f|oe. m
f||Total
2022f|
||||Restated|Restated||Restated|
|Missionary
support||Direct||2,923,446||2,923,446|
|Mission field grants||Direct||106||106|
|Deputation
and field travel||Direct|2,348|18,449||20,797|
|UFM magazine
and literature||Direct|17,705|||17,705|
|Publicity
and advertising||Direct|2,188|||2,188|
|Conferences
and house parties||Direct|1,205|||1,205|
|Conference costs bad debt received||Direct|(20,432)|||(20,432)|
|Audit fees||Direct|||8,880|8,880|
|Support costs directly|||||||
|allocated to activities|||||||
|Staff costs||Usage|447|436,250|1,317|438,014|
|Office expenses||Usage|117|114,387|345|114,849|
|investment
management|fees|Usage|9|8,575|26|8,610|
|Depreciation
8 loss on disposal||Usage|14|13,337|40|13,391|
||||3,601|3,514,550|10,608|3,528,759|
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|This is st|ated af|ter charging|:||||
|---|---|---|---|---|---|---|
||||||2023f|2022
f|
|Auditor's|remuneration||-|for audit services|7,740|7,105|
||||-|for other services|1,980|1,775|
|Reimbursement||ofCouncil|members'|expenses|||
|Depreciation|||||13,808|13,391|
|Operating|lease|payments|||2,545|2,545|
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|Staff costs and numbers|Staff costs and numbers|Staff costs and numbers||||
|---|---|---|---|---|---|
|The aggregate|payroll|costs were:||2023f|2022
f|
|Headquarters'|gross salaries|||431,267|363,864|
|Social security|costs|||31,476|25,858|
|Staff Death
in|Service|Cover||2,425|2,184|
|Consultancies||||3,960|11,660|
|Staff Pension||||45,056|34,872|
|Other staff costs||||1,936|(424)|
|||||516,120|438,014|
|The average headcount||ofemployees|during the year was:|||
|||||2023|2022|
|Administration||||20|18|
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|Tangible fixed assets|||||||
|---|---|---|---|---|---|---|
|||Freehold||Audio|Furniture,||
||Freehold|improve-||Visual 8|Fittings L||
||property|mentsf|Computer|Electrical
f|Equipment
f|Totalf|
|Cost|||||||
|At 1 April 2022|1,004,664|118,497|39,099|14,607|8,072|1,184,939|
|Additions|||5,703|848|1,152|7,703|
|Disposals|(225,000)|(65,475)||||(290,475)|
|Revaluation|85,654|||||85,654|
|Transfer|39,395|(53,022)||||(13,627)|
|At 31 March 2023|904,713||44,802|15,455|9,224|974,194|
|Depreciation|||||||
|At 1 April 2022||72,674|21,854|7,123|1,100|102,751|
|Charge for year||6,428|4,938|1,501|941|13,808|
|Disposals||(65,475)||||(65,475)|
|Transfer||(13,627)||||(13,627)|
|At 31 March 2023|||26,792|8,624|2,041|37,457|
|Net book value|||||||
|At 31 March 2023|904,713||18,010|6,831|7,183|936,737|
|At 31 March 2022|1,004,664|45,823|17,245|7,484|6,972|1,082,188|
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||||2023f|2022
8|
|---|---|---|---|---|
||Investment
portfolio||1,092,403|1,082,188|
||Cash held in deposit||528,587|93,369|
||||1,620,990|1,175,557|
||||2023|2022|
|||||8|
||Market value at start|ofyear|1,082,188|1,090,240|
||Additions
at cost||281,131|169,752|
||Disposal proceeds||(183,393)|(198,901)|
||Realised gain/(loss)|on investment|(344)|26,272|
||Unrealised
gain/(loss)|on investment|87,179|5,175|
||Market value at end|ofyear|1 092403|1,082,188|
||Historical cost offunds at end ofyear||984,256|979,544|
||Investments
comprise of:||||
||Fixed interest securities||219,263|176,433|
||Equity shares||688,478|748,662|
||Property
8 Infrastructure||184662|157093|
||||1,092,403|1,082,188|
||Held:||||
||Within the UK||500,448|600,259|
||Outside the UK||591,955|537,457|
|10|Debtors||||
||||2023|2022|
||||8|f|
||Prepayments||31,360|24,655|
||Other debtors||84,237|166,562|
||||115,597|191,217|
|11|Creditors: amounts|falling due within one year|||
||||2023|2022|
||Monies held
in Trust||49,592|(8,492)|
||Social security and other taxes||8,577|8,092|
||Accruals||19,107|49,212|
||||77,276|48,812|
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|12|Operating
Leases||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||At 31 March 2023 the|organisation|had total commitments||under||non-cancellable|operating|leases as set out|below:|
||||||||||2023|2022|
||||||||||6|f|
||Within one year||||||||1,700|1,700|
||Between two to five years|||||||||1,700|
||||||||||1,700|3,400|
|13|Movement
in funds||||||||||
||||At|||||||At|
||||1Apr|||||Gainsl||31 Mar|
||||2022
f|Income
8||Expenditure
f||(Losses)
6|Transfers|2023
6|
||Restricted funds||||||||||
||Gould legacy|||24,000|||(24,000)||||
|||||24,000|||24,000||||
||Unrestricted
funds||||||||||
||General funds||732,944|315,171|||(716,619)||(180,376)|151,120|
||Designated
funds||||||||||
||Development
fund||100,000|6,158|||(27,344)|||78,814|
||Missionary
Support||2,049,679|3,466,111|||(3,340,134)||(342,640)|1,833,016|
||Passage Fund
Fixed assets cost fund||3,756||||||(3,756)
527,636|527,636|
||Property
Revaluation|Fund|198,447|||||85,654||284,101|
||Revaluation
Fund||196,534|||||(87,523)|(864)|108,147|
||||3,281,360|3,787,440|||4,084,097|1,869||2,982,834|
||Total funds||3,281,360|3,811,440|||(4,108,097)|(1,869)||2,982,834|
||Prior year comparatives||||||||||
||||At|||||||At|
||||1Apr|||||Gains/||31 Mar|
||||2021|Income||Expenditure||(Losses)|Transfers|2022|
||||8|8|||K|F|5|8|
|||||Restated|||Restated||Restated||
||Unrestricted
funds||||||||||
||General funds||719,171|337,265|||(605,313)|26,272|255,549|732,944|
||Designated
funds||||||||||
||Development
Fund||||||||100,000|100,000|
||Missionary
Support||1,627,975|3,700,699|||(2,923,446)||(355,549)|2,049,679|
||Passage Fund||3,756|||||||3,756|
||Property
Revaluation
Revaluation
Fund|Fund|198,447
201,709|||||(5,175)||198,447
196,534|
||||2,751,058|4,037,964|||3,528,759|21,097||3,281,360|
||Total funds||2,751,058|4,037,964|||(3,528,759)|21,097||3,281,360|
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|Analysis o|f|net asset|s between funds|||||
|---|---|---|---|---|---|---|---|
|||||Tangible||Net||
|||||Fixed||Current||
|||||Assets|Investments|Assets|Total|
|||||f|8||8|
|General funds||||||151,120|151,120|
|Designated||funds||||||
|Development||fund||||78,814|78,814|
|Missionary|Support|||125,000|1,512,843|195,173|1,833,016|
|Fixed assets||cost fund||527,636|||527,636|
|Property
Revaluation|||Fund|284,101|||284,101|
|Revaluation||Fund|||108,147||108,147|
|||||936,737|1,620,990|425,107|2,982,834|
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|Prior ye|ar|c|omparati|ves|||||
|---|---|---|---|---|---|---|---|---|
||||||Tangible||Net||
||||||Fixed||Current||
||||||Assets|Investments|Assets|Total|
|||||||F||6|
||||||Restated||||
|General|funds||||758,741||(25,797)|732,944|
|Designated|||funds||||||
|Development|||Fund||||100,000|100,000|
|MissionarY||SUPPort|||125,000|975,267|949,412|2,049,679|
|Passage|Fund|||||3,756||3,756|
|Property|Revaluation|||Fund|198,447|||198,447|
|Revaluation|||Fund|||196,534||196,534|
||||||1,082,188|1,175,557|1,023,615|3,281,360|
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|||||||||2023||2022|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||6||6|
||Statement|of Financial|Activities:||Net movement||in funds|(298,526)||530,302|
||Investment|income||||||(31,411)||(25,502)|
||Depreciation|||||||13,808||13,391|
||Net (gain)|/ loss on investments||||||87,523||(21,097)|
||Net (gain)|/ loss on revaluation||offixed assets||||(85,654)|||
||(Profit) / loss on sale offixed assets|||||||||925|
||Increase
/|(decrease)|in creditors:||current|liabilities||28,464||(48,326)|
||(Increase)|/ decrease|in debtors|||||75,820||(141,013)|
||Net cash|inflow from|operating||activities|||(210,176)||308,680|
|16|Analysis|ofchanges|in cash during the|||year|||||
|||||||||2023|2022|Change|
|||||||||6|6|6|
||Cash &cash equivalents|||||||915,373|974,579|(59,206)|
|||||||||2022|2021|Change|
||Cash &cash equivalents|||||||974 579|642,187|332 392|
|17|Reconciliation
ofcash at bank and in hand to||||||the Balance Sheet||||
|||||||||2023|2022|2021|
|||||||||||6|
||Cash at bank and in hand per Balance Sheet|||||||386,786|881,210|594,711|
||Short-term|deposits||||||528,587|93,369|47,476|
||Cash at bank and in hand per Cash Flow|||||Statement||915373|974 579|642 187|
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|18|Analysis|ofchanges|in net debt||||
|---|---|---|---|---|---|---|
|||||At 1 April|Cash flow|At 31 INarch|
||Current year|||2022|movements|2023|
||||||6|6|
||Cash at bank and in||hand per Balance Sheet|881,210|(494,424)|386,786|
||Short-term|deposits||93,369|435,218|528,587|
|||||974,579|59,206|915,373|
|||||At 1 April|Cash flow|At 31 Nlarch|
||Prior year|||2021
6|movements|2022
f|
||Cash at bank and in||hand per Balance Sheet|594,711|286,499|881,210|
||Short-term|deposits||47,476|45,893|93,369|
|||||642,187|332,392|974,579|
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