2022-01-31-accounts - The South American Mission Society

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		Note	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			Funds	Funds	2022	Funds	Funds	2021
			£	£	£	£	£	£
Income from:
Donations and legacies		3	201,012	35,523	236,535	163,224	41,960	205,184
Gift from parent		4	-	421,782	421,782	-	497,096	497,096
undertaking
Investments		5	1,126	-	1,126	1,940	-	1,940
Other			-	80,431	80,431	-	55,271	55,271
Total income			202,138	537,736	739,874	165,164	594,327	759,491
Expenditure on:
Raisingfunds			-	-	-	-	-	-
Charitable activities
People in mission		6	30,546	540,239	570,785	43,907	573,582	617,489
Total expenditure		6	30,546	540,239	570,785	43,907	573,582	617,489
Net income/(expenditure)			171,592	(2,503)	169,089	121,257	20,745	142,002
Transfers between funds
Other gains/(losses)	on	17	257,000	-	257,000	(56,000)	-	(56,000)
pension scheme deficit
reduction provision
Net movement in funds			428,592	(2,503)	426,089	65,257	20,745	86,002
Totalfunds broughtforward			(944,786)	108,945	(835,841)	(1,010,043)	88,200	(921,843)
Total funds carried forward			(516,194)	106,442	(409,752)	(944,786)	108,945	(835,841)

	Note
		2022	2021
		£	£
Current assets
Debtors	11	45,508	85,798
Cash and short term deposits		661,807	636,464
		707,315	722,262
Current Liabilities
Creditors: amountsfalling due within one year	12	(50,577)	(53,820)
Net current assets		656,738	668,442
Defined benefit pension scheme liability	17	(1,066,490)	(1,504,283)
Net liabilities		(409,752)	(835,841)
The funds ofthe charity
Unrestricted: Free reserves	14	550,296	559,497
Unrestricted: Pension deficit	14	(1,066,490)	(1,504,283)
Unrestricted funds		(516,194)	(944,786)
Restricted funds	14	106,442	108,945
Total charityfunds	14	(409,752)	(835,841)

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			Funds	Funds	2022	Funds	Funds	2021
			£	£	£	£	£	£
Donations	from	churches and	-	24,816	24,816	-	31,066	31,066
groups
Donations	from	individuals	8,370	10,490	18,860	9,238	10,894	20,132
Legacies			192,642	217	192,859	153,986	-	153,986
			201,012	35,523	236,535	163,224	41,960	205,184

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	2022	Funds	Funds	2021
	£	£	£	£	£	£
Gift from parent undertaking	-	421,782	421,782	-	497,096	497,096
	-	421.782	421.782	-	497,096	497;096
INCOME FROM INVESTMENTS
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	2022	Funds	Funds	2021
	£	£	£	£	£	£
Interest on cash balances	1,126	-	1,126	1,940	-	1,940
	1,126	-	1,126	1,940	-	1,940

	Direct	Support	Total	Direct	Support	Total
	Costs	Costs	2022	Costs	Costs	2021
	£	£	£	£	£	£
Charitableactivities
People in mission
Mission Partners	540,238	23,547	563,785	573,582	21,907	595,489
Interest cost	7,000	-	7,000	22,000	-	22,000
Total Expenditure	547,238	23,547	570,785	595,582	21,907	617,489

	Finance &	Total	Total
	Administration	2022	2021
	£	£	£
Charitable activities
People in mission
Mission Partners	149	149	127
Pension scheme administration costs	17,230	17,230	15,900
Governance (Note 8)	6,168	6,168	5,880
Total SupportCosts	23,547	23,547	21,907

STAFF EMOLUMENTS
		2022	2021
		£	£
Salaries and allowances		410,429	428,959
Social security cost		1,534	3,631
Employer’s pension contribution	— defined contribution scheme	2,293	3,891
Employer’s pension contribution	— defined benefit multi-employer scheme	85,006	91,304
		499,262	527,785

	2022	2021
	£	£
Financial assets measured at amortised cost
Cash at bank and in hand	661,807	636,464
Amounts due from group undertakings	23,815	85,479
Other receivables	21,694	319
Financial liabilities measured at amortised cost
Other creditors due within one year (excluding tax and	(32,866)	(36,080)
deterred ncome)

DEBTORS
	2022	2021
	£	£
Trade debtors	6,625	-
Taxation recoverable	211	202
Amounts due from group undertakings	17,189	85,479
Accrued income	21,483	117
	45,508	85,798

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE Y	EAR
	2022	2021
	£	£
V
Trade creditors	1,623	3,141
Accruals	5,952	5,664
Taxes and social security costs	17,711	17,740
Other creditors	25,291	27,275
	50,577	53,820

Net Assets by Fund	- 2022	Unrestricted	Restricted	Total
		£	£	£
Current assets		572,921	134,394	707,315
Current liabilities less than oneyear		(22,625)	(27,952)	(50,577)
Defined benefit pension scheme liability		(1,066,490)	-	(1,066,490)
Net Liabilities 2022		(515,194)	106,442	(409,752)
Net Liabilities 2021		(944,786)	108,945	(835,841)
Net Assets by Fund	- 2021	Unrestricted	Restricted	Total
		£	£	£
Currentassets		584,333	137,929	722,262
Current liabilities less than one year		(24,836)	(28,984)	(53,820)
Defined benefit pension scheme liability		(1,504,283)	-	(1,504,283)
Net Liabilities 2021		(944,786)	108,945	(835,841)
Net Liabilities 2020		(1,010,043)	88,200	(921,843)

	At 1 February	Income	Expenditure	Other	Transfers	At 31
	2021			gains		January
				and		2022
				losses
	£	£	£	£	£	£
Free reserves	559,497	202,138	(23,546)	-	(187,793)	550,296
Pension deficit	(1,504,283)	-	(7,000)	257,000	187,793	(1,066,490)
Unrestricted funds	(944,786)	202,138	(30,546)	257,000	-	(516,194)
Mission Personnel funds	108,945	537,736	(540,239)	-	-	106,442
(Restricted)
Total	835,741	739,874	(570,785)	257,000	-	(409,752)

n accordance with Section 28.11A of FRS 102 the agreed deficit recovery payments are recognise rovision is set out below:	d as a liability. The m	ovement in the
	2022	2021
Pension scheme deficit reduction provision
	£	£
Balance sheet liability at 1 February	1,504,283	1,640,383
Deficit contributions paid Interest cost (recognised in SOFA) Remaining change tothe balance sheet liability*(recognised in SOFA), comprising the	(187,794) 7,000 (257,000)	(214,100) 22,000 56,000
change in agreed deficit recovery plan and the change in discount rate between year-ends
Balance sheet liability at 31 January	1,066,489	1,504,283