THE SOUTH AMERICAN MISSION SOCIETY
REPORT AND ACCOUNTS
For the year ended 31 January 2025
Registered Charity No. 221328
Registered Company No. 00065048

The South American Mission Society
Registered Charity No. 221328
Registered Company Ko. 00065048
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
Principal Address
The South American Mission Society
Watlington Road
Cowley
Oxford OX4 68Z
LÈBal Status
The South American Mission Society ISAMSI, registered Charity Number 221328 IEngland and Wales), is a company
limited by guarantee, registered Ctsmpany Number 00065048 IEngland and Wales).
Trustees of the Society land company dlrectorsl
Mr Charles Clayton, Chair, to 3103 2025
Mrs Fiona Lambert
Rev Jeremy Moodey appointed 09 10 2024
Mrs Chloe Louter
Chair from 0104 2025
Rt Rev Nicholas Drayson appointed 05 12 2024
Dr Kevin McKerney to 3107 2024
Rev Canon Andrew Bowerman to 09 05 2025
Rev Richard Mov
Rev Sarah Jayne Hewitt
Mr John Stansfeld
Ms Catherine Morgan Hickey
Mr Simon Upcott
Dr Anne Keene
Senior Managèment Team
Chief Executive Officer
Deputy Chlef Executive Officer & People and Learnin8
Director
Mission Direttor
Britain Hub Mission Dlrertor
Mr Alastair Bateman
Mrs Debbie james
Canon Andy Robe¥ts MBE
Mr Jonny Baker
Rev Virginia Luckett (to 3112 20241
Mr5 Laura Haye5 Ifrom 02 12 20241
Mrs Becky Morri5
Fundralslng and Communlcatlons Director
Finance and Corporate Services Dirertor
Prlncipal Professional Advisers
8ankers
Barclay5 8ènk PLC
Ptjblic Sector- Charities
Level 12
I Churchill Place
London
E14 5HP
Auditors
Crowe U.K. LLP
R+ Building
2 Blagrave Street
Reading
Berkshire
RGI IAZ

The South American Mission Societ
Registered Charity No. 221328
Re8lStered Cornpany No. 00065048
REPORT OF THE TRUSTEE5
The Trustees of SAMS, who are Oirector5 of the Charity for the purposes of the Companies Act 2006, present their annual
report and the audited flnancial statements for the year ended 31 january 2025.
Since their merger in 2010, SAMS and Church Mission Soclety ICMSI operate as è slngle entlty. with one vision and
leadership. Thi5 legal entity is a subsidiary of CMS and reports part of the group's activities in and for Latin America. The
consolidated positlon is given in the CMS report & financial statements Icharity 11316551.
OBJECTIVES AND ACTIVITIES
Our vislon
We long to see our world made new through the love of God a5 we follow Je5U5 to the edges.
Our goal
Communities and society are transformed a5 new disciple5 participate in the life and work of Je5U5 in our worfd.
Who we are
Jesu5 spent much of hls time with people at the edges, and that's where we want to be too. SAMS invites people at the
edges of church, the edges of society and the edges of our comfort zones to follow Jesus and play a part in hi5 story.
Come with us to the edges and discover God at work in way5 you might not have expected.
We are people who are..
Pioneering
We are constantly seeking and moving to the edges of church, Society and ourselves, and calling others to do the same.. to
try new things, ask questions, cross boundaries and not get too comlortable.
Evangelistic
We Share Jesus in word and action wtth people at the edges and invite them to be part of hi5 Story.
Relational
We get alongside people. becoming a 8enuine part of the ed8e-based communities where we find ourselves, recogni5ing
that often we are guests not hosts.
Faithful
We remain Irue to our calling and don't get discoulaged easily. We recognise that mission at the edges takes time, that
God is our leading partner in all we do and can be trusted to brillg needed change.
Where we work
By working.at the edges~ we mean that we encourage individuals and groups of people to follow Jesus..
At the edges of existing church
At the edges of societv
At the edges of Our cornfort 20nes
Within the UK and oversea5. we are specifically called to mission at the marglns and cultural fringes. where jesus is not
often followed and which are often overlooked or written off. We believe God is already at work in these spaces and OUT
task is to join irb.
What we do
We are called to rnake di5ciple5 of Jesus where you may not expect to find them. And to see those disciples make more
disciple5 unttl cornrnunitie5 of people committed to following the way of Jesus are formed.

The South American Mission Societv
Registered Charity No. 221328
Registered Company No. 00065048
REPORT OF THE TRUSTEES (continued)
OBJECTIVES AND ACTIVITIES Icontlnuedl
This is how we see chari6e happen.. person by person, Community by comrnunity. To be more specific..
We connect people with a tr¥eart for the edge5 SO they can work together. Often this takes the form of cross-
cultural hubs, or pockets of people from Western and non-western backgrounds teamin8 UP to brin8 change in
specific edge-based context.
We train people for ground-breaking. transformational and sustainable rnission in the UK and over5ea5.
We equip churches to look around. see what God is doing amon8 people at the edge5 Wlthin their communities
nd loin in.
In our vast history. thousands of people have crossed geographical, cultural and societal boundaries to make disciples of
Je5U5. Through their efforts, missteps and all, we have seen the gospel of Jesu5 rnake itself at horne in a variety of
contexts all over the world. Sometirne5 in way5 we could never have foreseen.
Review of the Year
The South American Mission society (Latin America reglon of CMSI has been developing its vtsion and strategy for rnission
work in Latin America Wh￿l$t 5UPPOrting its existing mission work across the region and beyond. Paul Tester has continued
as Manager in Latln Amerlca based in Oxford.
The year 2024/25 has seen a development tsf SAMS / CMS mission work with mission partners very much
involved. Within our locus on mission together with Indigenous People5 we have seen the first year of a three year plan
to support formation of missional indigenous leaders completed. There have been 11 indigenous leaders who have
completed year-long training programmes with many others equipped through 5hoiter trèSnings. all of whom are
continuing to serve in their local contexts. Others have received sponsorship to cornplete secondary education to
encourage further growth. A highlight from the year was the Indigenous Mission Con8ress near Temuco in October 2024
focusslng on evangelism, discipleship and formation. In the Second area of work in Latin America, pioneering mission, the
focus 15 on creativity and innovation in mission in those cultural Spaces where Jesus is not well known and draws upon
SAMS I CMS rnission partners serving in contexts where jesus is not known frorn Guatemala and Hofidura5 in the north to
Argentina and Chile in the 50Uth. Thi5 year SAMS / CMS has supported a one year development plan which ha5 led to
new three year plan for the Cofning years focused on developing Community. Communication, Catalysing arbd Cultivatirig
of pioneers and pioneer ministries. Central to the strategy 15 the creation of local ploneerlng mission centres. We hope to
See pioneering mission multiplied across the Latin America region.
SAMS I CMS people in mission, rni5sion partners. mission associates and local partners continue to serve, sharing Je5U5 in
many different and very challenging context5 across the reglon. In addltion, SAMS / CMS grants to strategic partner
organisations help our partners to follow the Holy Spirit's lead in sharing Je5U5. The principal activity of the societv
continues to be oveTsea5 rnission work throu8h IS mission partner unit5.
PUBLIC BENEFIT
In compiling this report, Trustees have given due regard to the public benefit guidance as 155ued bythe Charity Commi55ion.
As "a community of people in rnission obeyin8 the call of God to proclaim the gospel in all places and to draw all peoples
Snto fellowship with the Lord Jesus Chrisv, SAMS works out its Public 8enefit in a number of ways.
SAMS believes the Christian faith is of benefit to society, and individua15. bringing 3 vlsson of transformation for peace and
social harrnony which Bruws from what Christians believe is God's ultimate purpose.. to bring all things into unity and
perfection in Jesus Christ. People are likely to become disciples of Jesus if Christians "live a Chflst-like life arnong5t thern.
share the good news of jesus, demonstrate God's love and prayerfully expect the Spirit's power to transform individuals,
communttie5 and whole nations"

The South American Mission Society
Reg15tered Charity No. 221328
Registered Cnmpany No. 00065048
REPORT OFTHE TRUSTEES (continued)
OBJECTIVES AND A￿1VITIEs lcontlnuedl
SAMS seeks to demonstrate thls benefit through its wide range of fflission activities in Latin America.
STRUCTURE. GOVERNANCE & MANAGEMENT
Corporate governance Is as relevant in the voluntary sector as it is in the commercial world. The Trustee5 of SAMS aim to
have high standards of accountability as well as a proper and ethic31 performance of their duties.
Governance arrangement5
SAMS has one corporate member, CMS.
SAMS is an Association of Member5, whose business 15 governed by its Memorandum and Article5 of Association
and by a Board of Trustees.
The Board of Trustees of SAMS is made up of a maximum of fifteen appointed trustee5. appointed by CMS the
sole corporate mernber of SAMS
The SAMS board mirrors the CMS board, in which due regard 55 given to the skills required to promote effective
governance
The Board of Trustees meets up to four times a year.
Management structure
The Chief Executive Officer ICEOI is responsible to the Board of Trustees for the executive managernent of SAMS, affalrs.
The CEO lead5 the organisatiori using Services Supplied by CfvIS in relation to ministry and support functions.
Risk management policy and internal control
The Trustees have reviewed the Group's risk register which incorporate5 SAMS. This register summarises the major risk5
the Society fates. and we have hbghlsghted the risks most pertinent to SAMS below.
Reputation
Damage to reputation is a risk for any organi5ation and particularly import3nt for a Society. One key area in this
regard 15 safeguarding. The board reviews and approv25 the CMS sale8uardin8 policy every year and this is applied
equally to SAMS.
Critical Incidents
In response to the increasing awareness of the security issues faced by SAMS mission partners, robust security
procedures have been put in place by CMS, security training has been rolled out to relevènt high risk personnel and
a Crisis Management Team, with clea¥ contingency plans for emergencies, has been implemented.
The Trustees will continue to review operational and business risks faced by the Sotlety on a regular basis, to ensure that
they continue to have systems in place to mitlgate significant ¥isks, which are similar to the risks faced by their parent
cornpany, CMS.
Fundraising
SAMS does not directly engage in any Small or large scale fundraising activities. These are undertaken on its behalf by the
CMS fundraising team and consequently, SAMS has not considered it necessafy to sign up to any regulatory code of
fundraisin8 practice. No cornplaints regarding fundraising have therefore ever been received.

The South American Mission Societ
Registered Charity No. 221328
Registered Company No. c￿065048
REPORT OF THE TRusfEES Icontinuedl
FINANCIAL REVIEW
SAMS continues to employ Its mission partners as staff and provide pension benefits to these staff. Previous minlstry areas
of SAMS have continued a5 can be seen in the CMS gri)up account5 for the year ended 31 January 2025.
Donations and legacies recetved directly by SAMS into its bank actount5 are accounted far in these financial statements.
Income from donations and legacies came to £54,59312024'. £1,096,662). The majority of donations by churthes and
individuals for the work in Latin America are now received and accounted foi by SAMS. parent entity, CMS.
Each year, CMS transfers a gift to SAMS of restricted fund5, which 15 set against the costs of mission partners who are still
employed by the legal entity. CMS, as the parent charity, bear5 all other SAMS overheads, with the exception of 5AM5,
audit lee. Much mission work in Latin America is paid for by CMS and in 2024125 SAMS made a grant of £300,000 to CMS
to support this mi551011 activity.
RESERVES POUCY
Unrestricted: General Funds (Free Reserves)
The re5erve5 policy is reviewed annually, by the Trustees, in li8ht of the specific risks laced by the charity. As SAMS has
settled its prevlou5 pensSon Ilabilities SAM5 income and free reserves are solely dedicated to mission activity within South
America.
Restricted Funds
The reserves policy for restricted funds is for Sufficient assets to be held to meet the obligations of each fund and thi5 15 the
case as at 31 January 2025.
INVESTMENT POLICY
The Trustees have the power to Invest in suth a55ets as they see fit. The Society sometimes needs to react quickly to
particular situations and has a policy of keeping any surplus liquid fund5 in short term deposits. whith can be accessed
readily.

The South American Mission Society
Registered Charity No. 221328
Registered Company No. 00065048
REPORT OF THE TRUSTEES (continued)
FUTURE PLANS
The key areas of work lor SAMS into 2025-26 and beyond remains the recruitment and placement of long-term mission
P3rtller5 WlthiFI Latin America and development of a Latin American mission movement together with the latin American
church in two key areas- mission together with Indi8enous Peoples and Pioneering mission in edge contexts where Je5U5
is not known.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trustees Iwho are also dSrectors for the purposes of company lawl are responsible for preparing the Tru5tees' Annual
Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting
Practice Iunited Klngdom Accounting Standards).
Company law require5 the Trustees to prepare financial statement5 for each financial year. Under company law, the
Trustee5 must not approve the financial statements ullle55 they are satisfied that they give a true and fair view of the state
ol affairs ol the chaTilable company and of the incoming resources and application of resources, including the income and
expenditure, of the charitable company for that period. In preparlng these financial statements. the Trustees are required
select 5Ultable accountirig policSes and then apply them consistently;
observe the methods and principles in the Charities SORP.,
make judgments and estimates that are reasonable and prudent..
state whether applicable UK accounting standards have been followed. svbject to any rnaterial departures
disclosed and explained in the financial slatements.. and
P￿pare the financial statements on the golng concern basis unle55 tt 15 inapprDpriate to presume that the
charitable company will colltinue in busine5S.
The Trustees are responsible for keeping 3dequate accounting records that are sufficient to show and explairi the charitable
compan¢s transactions, disc105e with reasonable accuracy at any time the financial posttiori of the charitable company and
enable them to ensure that the financial statements cornply with the Companies Act 2006 and the provisions of the charity's
constitution. They afe a150 responsible for safeguarding the 35set5 of the charity and hence for taking reasonable step5 for
the prevention and detection of fraud and other irregularities.
In so13r as each of the trustees is aware..
there is no relevant audit information of which the company's auditor is unaware,. and
each of the trustees has taken all steps that he/she ought to have taken to make himself/herself aware of any
relevant audit information and to establish that the auditor is aware of that information
AUDITORS
Crowe U.K. LLP has indlcated its willingness to be reappointed a5 Statutory auditor.
The Trustees. Report has been prepared in accordance with the special provisions of the Companies Act 2CM)6 relating to
small companies and was approved by the Board of Trustees on 25 lune 2025 and signed trn their behalf by..
JEREMY MOODEY- CHAIR OF TRUSTEES

The South American Mission Societ
Re8lStered Charity No. 221328
Registered Company No. 00065048
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF THE SOUTH AMERICAN MISSION SOCIETY
Oplnion
We have audited the financial statements of The South American Mission Soclety I'the chèritable company'l for the year
ended 31 January 2025 which comprise the statement of cornprehensive income, balance sheet and note5 to the financial
statements. including significant accounting policies. The financial reporting framework that h35 beell applied in their
preparation is applicable law and United Kin8dom Accounting Standards, including Financial Reporting Standard 102 The
Financial ReportinE Standard applicable in the UK and Repub5ic of Ireland (United Kingdom Generally Accepted Accounting
Practice).
In our opinion the financial 5tatement5'.
give a true and fair view of the state of the charltable companvs affairs as at 31 january 2025 and of its Income
and expenditure. for the year then ended..
have been properly prepared in accordance with United Kingdorn GEnerally Accepted AccountÈng Practi£e,' and
have been prepared in accordance with the reouirements of the Companies Act 2006
Basls for oplnlon
We conducted our audlt In accordance wlth International Standards on Auditlng IUKI IISAS ILIKII and applicable law. Our
re5ponsibilitie5 under those standard5 are further described in the Auditor's re5pon51bslities for the audit of the financial
staternents 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'5 Ethical Stand3rd, 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.
Conclusion5 relating to going concern
In audit*ng the financial statement5. we have concluded that the tru5tee'5 use of the goirsg concern basis of accounting in
the preparation of the financial statements is appropriate.
Based on the work we have perforffled, we have not identified any material uncertainties relating ta events or condition5
that. individually oi collectively, may cast significant doubt on the charitable company's ability to continue as a going
con￿r￿ for a period of at least twelve months from wheF5 the financial Statements are authorised for issue.
Our responsibilities and the responsibilities of the tru5tee5 Wlth respect to going concern are described in the relevant
Sèctions of thi5 report.
Other inform3tion
The trustees are responsible fDrthe other information contained within the annual report. The other information comprises
the information inc5uded in the annual report. other than the financial statements and our auditorfs 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 a55urance tonclusion thereon.

The South American Mission 5ocietv
Registered Charity No. 221328
Registered Company No. (X)065048
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SOUTH AMERICAN MISSION SOCIETY
ICONTINUEDI
Our re5ponslbility is to read the other information and, in doing 50, 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 ideTltify such rnaterial inconsistencies or apparent material misstatements, we are required to determine
whether this 8ives rise to a material mi55tatement in the financial statements themselves. If, based on the work we have
performed, we conclude that there 15 a material misstatemeftt of this other information, we are required to report that
fact.
We have nothing to report in this regard.
Opinlons on other matters prescrlbed by the Companies Act 21￿6
In our opinion based on the work undertaken in the course of ovr audit
the information given in the trustees, report, which includes the director5. report prepared lor the purposes of
company law, for the financial year for which the financial staternents are prepared is consistent with the
financi31 statements.. and
the directors, report included within the iru5tees' report have been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exceptlon
In light of the knowledge and understanding ol the charitable company and their environrnent obtained in the course of
the èudit, we have not identified material misstatements in the director5, report included within the trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Art 2006 requires u5 to
report to you if. in our opinion..
adequate and proper accounting record5 have not been kept.. or
the financial statements are not in agreement wsth the accounting records and returns,. or
certain disclosure5 of trustees. remuneration specified by law are not made,. or
we have not received all the information and explanations we require lor our audit,. or
the trustees were not entitled to prepare the financial statements in accordance with the small comp3nle5
regime and take advantage of the small companies. exemptions in p¥eparing the trustees, directors, report and
from the requirement to prepare a strategic report.
Responsibilities of trustees
A5 explained more fully in thetrustee5' responsibilities statement set out on page 6. the tr¥stee5 (who are a150the director5
of the charitable company for the purp05e5 of company lawl are responsible for the preparation of the financial staternents
nd for belng satisfied thattheygive a true and fairview, and for such internal control as the trustees determine is necessary
to enable the preparation ol financial statements that are free from material mi55taternent, whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable company's abi1Sty to continue
as a going concern, discloslng, as applicable. matters related to going concern and using the going concern basis of
accounting unless the trustees either intend to Ilquldate the charitable company orto cease operation5, or have no realistlc
alternative but to do so.

The South American Mission Society
Registered Chadty No. 221328
Registered Company No. 00065048
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SOUTH AMERICAN MISSION SOCIETY
(CONTINUED)
Audltor's responsibilltles for the audlt of thè flnanclal statements
Oui objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
m4SStatement. whether due to fraud or error, ènd to issue an auditorfs 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 IUKI 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 ihese financial statements.
Irregularitie5. Including fraud, are Instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above, to detect rnateiial misstatements in respect of irregularities, including fraud. The
extent to which our procedkjres are capable of detecting irregularities. including fraud is detailed below.
Extent to which the audit wa5 considered capable of Iletectlng irregularities. including fraud
We identified and assessed the risks of materlal MI￿tatement of the financial statements frorn irregularitiès, whether due
to fraud or error, and discussed these between our audit team members. We then desiEned and performed audit
procedures responsive to those risks, includin8 obtainin8 audit evidence sufficient and appropriate to provide a basis for
our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charltable company operates,
focusing on those laws 3nd regulations that have a direct effect on the determination ol materi31 arnounts and disclosures
in the financial statements. The law5 and regulation5 we considered in this context were the Companies Act 2006. the
Charities Act 2011 together with the Charities SORP IFRS 1021. We assessed the required compliance with these laws and
regulation5 as part of our audit procedures on the related financial statement items.
In addition. we considered provisions of other laws and re8ulations that do not have a diiert effect on the financial
statement5 but compliance with which rniEht be fundamental to the charitable cornpally's ability to operate or to avoid a
material penalty. We also ccin5idered the opportunities and incentives that may exist within the charitable Company for
fraud. The laws and regulations we considered in this context for the UK operations were Charity Commission regulations
and taxation legislation,
Audlting standards limit the required audit procedures to Identify non-compliance with these laws and regulations to
enquiry of the Trustees and other management and inspection of regulatory and legal correspondence. if anv.
We identified the greatest risk of material impact on the financial statements frorn irregularitie5, Including fraud. to be
within the timing of recognition of legary and grant income and the override of controls by Management. Our audit
procedures to respond to these risk5 included enquiries of management and the Finance Committee abotjt thelr own
Identifi'cation and assessment of the risks ol irregularities, sample testing on the posting of journals. reviewing accounting
estimate5 for bia5e5, sample testing of legacy and grant income to supporting documentation and reading minute5 of
meetings of those charged with governance.

The South American Mission Society Registered Charity No. 221328 

Registered Company No. 00065048 

## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SOUTH AMERICAN MISSION SOCIETY {CONTINUED)** 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

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/auditorsresponsibilities. This description forms part of our auditor's report. 

## **Use of our report** 

This report is made solely to the charitable 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 charitable 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 


## **Janette Joyce** 

## **Senior Statutory Auditor** 

## **For and on behalf of** 

**Crowe U.K. LLP** 

**Statutory Auditor Reading** 

**Date: 2 July 2025** 

10 



The South American Mission Society
Registered Charity No. 221328
Registered Company No. 00065048
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 January 2025
Plote Unrestricted
Funds
Restrlcted
Fund5
Tr•tal
2025
Unrestrlcted
Fund5
Re5trided
Funds
Total
2024
Income from..
Donations and legacies
Gift frorn phrenl
undertaking
Investments
30,668
23,925
448,252
S4,S93
448,252
1.070,623
26,039
550,103
1.096,66Z
550,101
20,845
20.845
19.069
19,069
Other
206
97,773
97,979
495
92,050
92,545
Total Imome
51,719
569,950
621,669
J,090,187
668,191
1,758,379
Expendlture on..
Raising funds
People in mi55iOll
31)8,545
561,605
870.150
208.245
658.030
866,275
Total expendlture
308.545
561,605
870,150
208,245
658,030
866,275
Net
Income/leNpondlturÈl
-I￿,B26
8,345
-248N81
881,942
10.162
892,104
Transfe¥5 between funds
Other 83ins/l105se5I on
pension Scheme dellclt
redurtion provision
17
Net movement in fvnds
-256,816
8,345
-248,481
881.942
10,162
891,104
Totsl fvnds bro4ht
forward
Total funds carrled
forword
1,352,049
66,986
1.419.035
470,107
56,824
526,931
1.095.Z23
75,331
1,170,554
L352,049
66,986
1,419,035
The accompanying notes ale an integral part ol this Statement of Financial Activities. All gains and losses arising in the
year relate to continuing activtties.
li

The South Arnerican Mission Societv
Registered Charity No. 221328
Registered Company No. 00065048
BALANCE SHEET
As at 31 January 2025
Note
202S
2024
Current assets
Debtors
Cash and 5hort-term deposits
li
502.431
752.188
I,Z54,619
718,105
669,3Z7
1,447,432
Current Liabililie5
Creditors.. amounts fallln8 due within one year
12
184,0651
128.3971
Net current a55et5
1,170.554
1,419,035
Nel assets
1,170,554
1,419,035
The funds ol the chartty
Unrestricted.. Freè resÈrves
14
1.095,223
1,352.049
Unre5tricied funds
1.095.223
L352.049
Restricted funds
14
75.331
66,986
Total charity furlds
14
1.170.554
1,419.035
The accompanying notes are an integral part of thls Balance Sheet.
The financial statements on pages 11 to 21 were approved by the Board of Trustees and authori5ed for issue on 25 Jvne
2025 and Signed on their behalf by..
Jeremy Moodey- Chair of Trustees
12

The South American Mission Society
Registered Charity No. 221328
Registered Company No. 00065048
NOTES TO THE ACCOUNTS
At 31January 2025
ORGANISATION
The South American Mission Society ISAMSI 15 a company limited by guarantee, not having a share capital, and has approval
to omit the word 'Limited' from its name. The Society is registered in England ènd Wales, its company number being
00065048. It is also a Registered Charity. nvmber 221328 IEngland and Wale51. The Society is a subsidiary of Church Mission
Society I'CMS'I, a registefed charity in Eneland and Wales Iregistered number 11316551 and a registered company limited
by guarantee, in England and Wale5 Iregisteied number 69853301. CMS, is the sole corporate member and is considered
the ultimate parent undertaking of the Society.
ACCOUNTING POLICIES
Basls of preparatlon the financial statements have been prepared under the historical cost convention.
The linèncial statements have been prepared in accordance W￿th thE Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021. with the Statement of Recommended Practice "Accounting and Reporting by Charities
applicable to charitie5 preparing accounts in accordance with FRS 102" (effective l January 20151 and wlth the Companies
Act 2006. SAMS is considered to be a public benefit entlty under FRS 102.
Assessment of golng concern
The Trustees have reviewed the level ol free reserves and have a reasonable expectation that the society has adequate
resources to continue its activltle5 for the fo￿Seeable future. According￿, they Continue to adopt a going concern basis in
preparing the financial statements.
Accounting estimate5 and judgements
ThE preparation of the financial Statements in accordance with FRS 102 requires the trustees to make judgements.
estimate5 and assumptions that affect the reported amounts in the finBncial statements. The areas involving a higher
degree of judgement, or areas where assumptions and estimates were 518nificant to the financlal statements. are disclosed
in Note 19.
Flnancial Instrumènts
The Society only ha5 financial assets and liabilities of a kind that qualify as basil financial instrurnents. Basic financial
InStrument5 are initially recognised at transartion value (including any iransaction costs) and subsequently rneasured at
their Settlement value Iwhich is also the amortised costl. Financial assets held at arnort15ed 105t iriclude cash and bank in
hand and the Society'5 trade and other debtors, excluding prepayments. Financial liabilitie5 held at amortlsed cost include
the society's long and short term creditors. excluding deferred incom&.
Income reco8nltlon for donations and legacles and glft from CMS
Income is recognised in the period in which the Society has entitlement to the income, when it is probable that the income
will be received and the amount of the income can a150 be measured reliably.
Legacy gift5 are recognised on a case by case basis followirig the grant of probate and when the entitlement to the legacy
has been established. receipt Is probable and the amount ol the legacy can be measuTed reliably. In aCEordènce with this
policy, le8acie5 are included when the Societv 15 notified by the Personal Representative5 01 an estate from which a
distribution is to be made and the amount involved can be reliably measured.
13

The South American Mission Society
Registered Charity No. 221328
Registered Comp3ny No. 00065048
NOTES TO THE ACCOUNTS
At 31 January 2025
Where legacies have been notif*ed to the charity, or the charity is awaiting the grant of probate, and the criteria for income
recognition have not been met, then the legacy 15 treated as a contingent a55et and disclosed if material. No value is
included where the leBacy is subject to a life interest held by another party.
Donations and legacies receivable by SAMS, are accounted lor in these financial statement5, however. the majority of
donations by churches and individuals for the work in Latin America are now received and accounted for by SAMS, parent
entity. CMS. As a consequence, certain income that would historically have been credited to SAMS 15 now received and
accounted for by the parent charity. Each year. CMS transfers a gift to SAMS of restricted funds (see note 41 relating to
mission partner5 who are still employed by its legal entity to reflect the income received by the parent charity.
Fund accountlng and the allocation of income and expenditure by fund
Income and expenditure are allocated to two categories of funds.. Unrestricted Fund5 3nd Restricted Funds.
Unre5tr*cted funds are available for use at the discretion ol the trustee5 to further the Society's general purposes alld
Objectives. All income and expenditurè assoclated with the general operation of the Society has been dealt with in the
Unrestricted Funds, including donations and legacie5 where the donor attache5 no specific conditions. A pension reserve
was included in the prior year comparatives within unre5trscted fund5 to reflect the pension liability. De51gnated funds are
a portion of unrestricted funds that have been set aside by the trustees for a particular project 01 purpose.
Restricted fund5 represent income and donation5, the use of which has been specified by the donor. Restricted funds are
donated for either a particular geographical area or purpose. the use of which is restricted to that purpose or area.
fiesources expended
CMS, as the parent charity. bears all SAMS overhead5, Wlth the ex￿ptIon of the employment costs of SAMS. mission
partners and its governance costs.
Expendituie borne by SAMS is recognlsed once there is a legal or constructlve tsbligation committing the society to thal
expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis. A liability is recognised when a legal or constTUCtive commitment 15
entered into by the Society and so a liability exists.
All expenses. including support costs and governance costs, are classified to the applicable expenditure headings in the
statement of financial activities. Where costs cannot be directly attributed to particular headings they have been allocated
to activities on a ba515 conslstent with the use of resource5.
Penslons
The Society has members in two defined benefit pension schemes. For certain mission partners the Society contributes to
personal money purchase pension schemes Idetined contribution 5ehemesl.
Definedcontribution schemes
For defined contributlon schemes, the amount charged to the Statement of Financial Activitie5 in respert of pension costs
and other post-retiremenr benefits is the contributions payable in the year, Difference5 between contributions payable in
the year and contribution5 actually paid are shown as either accruals or prepayments in the balance sheet.
14

The South American Mission Society
Registered Charity No. 221328
Registered Company No. 00065048
NOTES TO THE ACCOUNTS
At 31 January 2025
Clergy Pension Scheme
The Society participates in the Church of England Funded Pensions Scherne, administered bythe Church of England Pensions
Board also known as the Clergy Pension Scheme (see note 17AI, which provides pensions lor £lergy and licensed lay woiker5.
The Church ol Ensland Funded Pensions Scheme is a multi-ernployer defined benefit scheme but the Societv 15 unable to
identify its share of the underlying assets and liabilities. No funding liability currently arises for the Society in respect of
them.
Statement of Cash Flows
The Society is a wholly owned subsidiary of CMS and, in accordance with para8raph 1.12lbl of FRS 102, is therelore exempt
from the requirement to include a Statement of Casb Flows in its financial staterrents. The trustees have takefi 3dvantage
of this exemption.
15

The south American Mission Societ
Registered Charity No. 221328
Registered Company No. 00065048
NOTES TO THE ACCOUNTS
At 31 January 2025
DONATIONS ANO LEGACIES
Unresttlrted
Funds
Restrlcted
Funds
Total
2025
Unrestricted
Funds
Re5trirted
Funds
Totjl
2024
Oonaiion5 from churrhes and
groups
Donaiionsfrom 5ndividu31s
Legacies
18,245
18,245
17,661
17,661
5,619
25,049
30,668
5.580
11,299
25,049
54,S93
6,276
1,064,347
1,070.623
8.378
14.654
1.064.347
1.096,662
23.925
26,019
Legacie5 of which South American Mis5itsn Society has been notified but not recognised as income are e5titnated at £17,800
12024.. E20,7001.
GIFT FROM PARENT UNDERTAKING
Unrestrlcted
Funds
Re5trirted
Funds
Total
2025
Unre5trided
Funds
Restrlded
Funds
Total
2024
Gift from parent undertakl
448.252
448,252
550,103
550,103
448,252
448.252
550,103
550,103
INCOME FROM INVESTMENTS
Uniestricted
Fund5
Restricted
Funds
Total
Z025
UnrestrictEd
Funds
Restrlcted
Fund5
Total
2024
Interest 011 cash balanies
20.845
20,845
19.069
19,069
20,845
20,845
19,069
19,069
16

The South American Mission Societ
Registered Charity No. 221328
Registered Cornpany No. 00065048
NOTES TO THE ACCOUNTS
At 31 January 2025
EXPENDITURE ON CHARITABLE A￿1VITIEs
Oirect
Costs
Support
Costs
Total
ZOZ5
Direct
Costs
Support
Costs
Total
2024
Charitable
activities
People in mission
Mission Partner5
861.605
8,545
870.150
858,030
8,245
866.275
Totsl E¥perLdF¢uTe
861.605
8.545
870.150
858,030
8.245
B66.275
SUPPORT COSTS ALLOCATION
Flnance &
Administration
Total
2025
Total
2024
Charitable activities
People in mission
Mission Partners
Pension scheme admlnlstration costs
Governance INoie 81
Total Support Costs
145
145
200
8,4QO
8,545
8,045
&245
8,545
The support costs relate entirely to the activity of supporting Mission Partners. Governance costs relèted to the running of
the Society, consist almost entirely of the costs of the external audit (Note 81, which is shown gross of VAT.
AUDITORS, REMUNERATION
2025
2024
Audif FeÈs
Fèe5 for non-audit services
8.400
7,866
179
8,045
8,400
17

The South American Mission Society
Re8lStered Ch3rity No. 221328
Registered Company No. Otx)65048
NOTES TO THE ACCOUNTS
At 31 January 2025
STAFF EMOLUMENTS
2025
2024
Salaries and allowances
Social seturity cost
Employerfs pension contribution defined ioniribution scheme
f tnployef's pÈnsion contribution- defined benefit multi-èmployer scheme
424,620
461
87,481
487,610
6,915
108,095
512.562
602,620
Average monthly number ol employees was 2212024. 251, all of whom are Mission Partners in Latin America.
One employee during year received emoluments of between £80,000 to £90,000 12024.. One employee received
emoluments ol between £70,000 to £80,000). No employee benefit5 were received by key managernent personnel for their
services during the year or prior year.
io
FINANCIAL INSTRUMENTS
The Society ha5 certain financial 355et5 and financial liabilities of a kind that quallfy as basic financial instrurnents. The
Society has the following financial instrument5'.
2025
1024
Flnanclal assets measured at amortised cost
sh at bank and in hand
Arnounts due from group undertakings
Other receiwables
752,188
669,327
44,695
733,410
564,845
Flnanclal Ilabllltles me85ured at amoiti5ed cos1
other creditor5 due within one year lexcluding t3x and
deferred incgmel
Amounts due to group undert3kirtgs
110,7571
119.6021
162.4141
li
OEBTORS
2025
2024
Trade debtors
Taxation recover3b
Arnounts due from group undertakings
Accrued income
8.148
1,369
8,148
541
44,695
724.721
492,914
502,431
778,105
18

The South American Mission Societv
Registered Charity No. 221328
Registered Cornpany No. W065048
NOTES TO THE ACCOUNTS
At 31 January 2025
12
CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Trade credf(ors
Accrua15
Taxes and social security costs
Amounts due to group undertakin85
Other creditors
2,353
8,400
10.893
62,414
8,970
5,466
8,795
5.166
84,065
28,397
Included in "other creditors" are pension contributions of £O.0012024.. E5,1611 in respect of the society'5 pensio
scheme5.
13
NET ASSETSIILIABILITIESI BY FUND
Net AssÈt5llLkabilitiesl by Fund- 2025
Unrestricted
Restrl£ted
Total
Current assets
Current liabiliiies less thèn one year
1.179.288
184,0651
75.331
1.254.619
I84.￿5)
Net A55ets 2025
1.095.113
75J31
1.170.554
Not As$￿s/[LIabIlk1e$j IV Fund- 2024
Unyestrlrted
Restrlrted
Total
Currènt 2SSèts
C￿rrent liabilities less than one year
1.380,446
128.3971
66.986
1,447,432
128,3971
NetAsset$ 2024
1,3S2.049
66.986
1.419.035
19

The South AtTrerlcan Mission Socie
Registered Charity No. 221328
Registered Company No. 00065048
NOTES TO THE ACCOUNTS
At 31 January 2025
14
RECONCILIATION OF FUNDS
At l February
2024
Income
Expendlture
Olhef
zains
losses
Transfers
At31
Januarv
2025
Free reserves
1,352.049
51,719
1308,5451
1,095,223
Vnrestricted funds
1,352,049
51,719
1308,5451
1,095,223
Mission Personnel funds
(Restricted)
66,986
569,9SO
IS61,6051
75.331
Total
1,419,035
621,669
1870,1501
1,170,554
Restrlcted funds
Mi55ion Personnel funds are held as individual restricted funds for the support of SAMS Mi55ion Partners.
15
TRUSTEES, EXPENSES
The Trustees receive no remuneration for their services, there were no expenses to reimburse in re5PeCt of expenses
attending meetings12024.. £0> and there were no other costs12024.. EOI relating to trustee meetings.
16
RELATED PARTY TRANSACTIONS AND CONTROLLING PARTY
The Society has taken advantage of the exemptions allowed by FR5102 not to disclose transactions with other group
members. There were no related party transactions requiring disclosure during the year. Church Mission Societv 15 the 501e
coiporate mernber of the society. which is the controlling party. The registered address of Church Mission Society is CMS
House, Watlington Road. Oxford, OX4 68Z. A copy of the group linancial statements is also available from this address.
17
REllREMENT BENEFITS
Oefined Benefit Schemes. Church of Funded Pensions Scheme England
The Society has no active members of the Church ol England Funded Pension5 Scheme (also known as the Clergv
Scheme) 12024..11 which has approximately 8,000 active rnembers. Contribution5 for these members of the
Scheme are paid for by the Arthbishops Council on behalf of the Society, so the expense recognised in the SOFA is
Nil 12024.. ENill. Employerfs contributions to this scheme afflounting to some £6000 are funded by the
Archbishops, Council in accordance with the Pellsions Measure 1997, under a grant which the national church
undertook to make to meet the pension costs of clergy employed by Qualifying mission agencies belonging then
to the Partnership In World Mission.
20

The South Arnerican Mi55ion Society
Registered Charity No. 221328
Registered Company No. 00065048
NOTESTO THE ACCOUNTS
At 31 January 2025
18
CUSTODIAN TRUSTEESHIP
The Society acts as Custodian Trustee of funds belonging to the Diocese of Uruguay=_
2015
2024
V6lue at 31 J*nu3ry 2025
5,854
5,559
5,854
5,559
These funds are not part of the Society's net assets and therefore are not included in the Society's accounts. At the request
of the diocese of Uruguay they are deposited with CCLA who manage the Central Board of Finance of the Church of England
Investment Funds.
19
ACCOUNTSNG ESTIMATES AND JUDGEMENTS
In preparing the financial statements. the trustees are required to rnake estlmètes and judgements. The matter5 considered
below are considered to be the Most important in understandin8 thejudgements that are Involved in preparing the financial
5tatefflent5 and the uncertainties that could impact the amounts reported in the results of operation5 and financial position.
Accountlng policies are shown in note 2 to the financial statetnents.
Cost allocatÉon
Costs not attributable to a single activity are allocated or apportioned to activities on a basi5 con515tent with identified cost
drivers for that cost category. Cost drivers utilised relate tD the proportion of time Spent by staff acr055 different activities
and judgement is exercised in applying cost drivers to Cost categorie5.
21