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2021-12-31-accounts

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE)

Company limited by guarantee no. 90484 and registered charity no. 221853

web-site – minersmission.com

DIRECTORS’ REPORT AND FINANCIAL STATEMENT FOR THE YEAR ENDED 31[st] DECEMBER 2021

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) DIRECTORS’ REPORT AND FINANCIAL STATEMENT FOR THE YEAR ENDED 31[st] DECEMBER 2021

INDEX

Page
Company Information 1
Directors' / Trustees' Report 2-6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statement 10-14

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) COMPANY INFORMATION

FOR THE YEAR ENDED 31[st ] DECEMBER 2021

The Glynn Vivian Miners' Mission Incorporated 1906 was incorporated on 18[th] October 1906 and its Memorandum & Articles of Association were amended on 3[rd] July 2000. It has no shares and the guarantee of each member is limited to £10.

Company Number: 90484 (England and Wales) Company limited by guarantee
Charity Number: 221853 (England and Wales)
Trustees (Directors): David R Shillitoe
Mrs Victoria I Yorke
Michael G Jarvis
John A Doohan
Terence W Garde
Trevor J Ogden (resigned 1 January 2021)
Gregory I Le Roux (appointed 26 May 2021)
Company Secretary: David R Shillitoe
Principal officer: David R Shillitoe Company Secretary
Registered Office: 5 Old Rectory Court
61 Wood Street
Barnet
EN5 4BL
Banker: CAF Bank Limited National Westminster Bank Plc
PO Box 289 Ashby-de-la-Zouch Branch
West Malling 54 Market Street
Kent Leicestershire
ME19 4TA LE65 1BB
Investment Advisors: Charles Stanley and Company Limited
25 Luke Street
London
EC2A 4AR
Independent Examiner: Nigel Manning
53 Dysons Close
Measham
Swadlincote
Derbyshire
DE12 7NW

1

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31[st] DECEMBER 2021

The Trustees present their annual report with the accounts for the year ended 31 December 2021. The accounts comply with the requirements of the Companies Act 2006, the Charities Act 2011, the Memorandum and Articles of Association, Financial Reporting Standard 102 and follow the recommendations in 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 2015).

ABOUT THE THE INTERNATIONAL MINERS’ MISSION

Current available statistics indicate that there could be as many as 100 million people involved in mining worldwide today. Certainly some of these are employed by large well-organised mining corporations. However many people are working as artisanal miners in poorer countries, sometimes scraping a meagre living from the earth in order to provide some sort of income for their families. Many gravitate to work in mining to earn an income just sufficient to survive. The International Miners’ Mission has been involved for over 100 years in reaching out with the Christian message to mining communities, both those involved in working for formal mining companies and, ever increasingly, to artisanal miners and their families who operate in a more informal way. In many cases such people are to be found working in remote places, the work involving many different members of the family. This outreach is generally achieved in association with local churches and agencies in the relevant countries (as detailed under Review of the year).

STRUCTURE, GOVERNANCE AND MANAGEMENT

The International Miners' Mission is a company limited by guarantee (company number 90484) and a registered charity (charity number 221853). The governing instrument of the charitable company is the Memorandum and Articles of Association.

The membership has the legal responsibilities in the governance of the charity for electing the directors (trustees). Its responsibilities also include: the admission and classification of members of the charity; agreeing procedures at general meetings and meetings of the trustees; receiving the annual report and accounts of the directors (trustees); and appointing Independent Examiner.

Being a company limited by guarantee, there is a board of directors who also act as the trustees of the registered charity. The members of the charity elect the trustees.

The trustees manage the business of the charity and are responsible for: ensuring that the charity is solvent, well-run, and delivering the charitable outcomes for which it has been set up; ensuring that the charity complies with charity law, and with the requirements of the Charity Commission, that the charity does not breach any of the requirements in its governing document and that it remains true to the charitable purpose and objects set out there; acting with integrity, and avoiding any personal conflicts of interest or misuse of the charity’s funds or assets; and regulating the financial affairs of the charity. The trustees may enter into contracts, appoint and employ staff, determine staff pay and conditions of service. The trustees endeavour to consult the membership and to inform it of their decisions.

The Trustees meet at least four times a year. Time is given within Trustees meetings to focus on the role and changes in legislation. Where required, formal training or advice from consultants is given. The Trustees (who are also Directors) who served during the year were:

David R Shillitoe Mrs Victoria I Yorke Michael G Jarvis John A Doohan

Terence W Garde Trevor J Ogden (resigned 1 January 2021) Greg I Le Roux (appointed 26 May 2021)

2

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31[st] DECEMBER 2021

OBJECTIVES AND ACTIVITIES

To acquire, erect, equip, manage, and carry on the work of mission halls and premises for the benefit of workpeople in collieries, mines and metal works and their families.

PUBLIC BENEFIT

In compiling this report, the Trustees have given due regard to the public benefit guidance as issued by the Charity Commission.

As a charity, International Miners’ Mission is committed to the advancement of the Christian faith. We believe that the Christian faith is of benefit to individuals and society because it has at its heart God’s intent to reconcile people to Himself through the sacrifice of Jesus Christ on the cross. This benefit is best achieved through church fellowships that the charity helps to promote and support, particularly in mining areas. This boosts community esteem and increased integration of people such as miners and their families into their wider societies, which is all to the benefit of public welfare generally.

REVIEW OF YEAR 2021 AND FUTURE PLANS

The purpose of the Charity is to promote the Christian faith amongst mine workers, metal workers and their families in a number of countries of the world overseas. Ongoing projects in eight countries were actively funded and monitored throughout 2021. Some of the locations are in remote and poor parts of the relevant countries, where there is a need for support and training for local workers. The welfare of mining communities during the current COVID pandemic has been a priority.

Romania – The charity has been supporting ministry in various locations around the Targu Jiu lignite (brown coal) mining area for many years. Financial support is provided for a team of four Christian evangelists, whose task it is to regularly visit towns and villages where churches have been established in communities located near the open-cast mines, some of the largest in Romania. This ministry has been overseen by the local pastor and his wife. Efforts to make this outreach more self-supporting continue, but these churches are located where unemployment is high as lignite mining is in decline. Two Trustees had hoped to visit the area but the COVID pandemic regrettably prevented this trip from happening.

Ethiopia – the Charity continues to provide grants to support Christian pastors/evangelists active in the growing artisanal gold mining area of southern Ethiopia. The project has developed over the last 20 years and the costing of all the funding requested is submitted to the Charity on an annual basis for consideration and approval. Some 25 churches have been established in this time under the supervision of the Ethiopian Addis Kidan Baptist Church, along with several new outreach points. New church buildings are being opened. The region now has 23 pastors/evangelists and an active area coordinator. Provision continues to be made by the Charity for building materials for new church buildings. A second mining area to the north west of Addis Adaba continues to develop. During the year there has been growing political unrest, which has affected some parts of the country.

South Africa – The Discipleship Training Programme continued to extend into several churches in mining communities located mainly in the platinum mines around Rustenburg in North West Province and the gold mines of the West Rand. Financial accounts relating to the application of the funds provided to the Charity for the administration and mentoring of the Miners Bible School courses were submitted. The IMM committee in South Africa are also undertaking essential work in supporting the poor and needy in the mining areas, and schools for many pre-school children are run by the churches. The COVID pandemic through most of 2021 has continued to affect the mining areas, causing unemployment and hardship.

3

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31[st] DECEMBER 2021

Ukraine – Unfortunately, due to the ongoing civil unrest in Eastern Ukraine, where many of the mines are located, it continues to be impossible for Trustees to undertake visits. On top of this the COVID pandemic has affected the area. The churches are continuing to assist refugees, some of them being miners’ families, many without work. Many local workers are really struggling to meet the huge need, so the Charity has sent funds on several occasions in the year to assist in meeting the serious crisis. In spite of this, the ministry continues to grow and three further churches have been opened and others are in formation. It has also been possible to sponsor camps for children in the summer months. A rehabilitation centre for men with drug and alcohol problems is also well established. However, the serious political situation developing in the country in 2022 is of great concern to the Charity Trustees.

Sierra Leone – The reports of our local adviser for the country continue to be most encouraging. The local pastor partially sponsored by the Charity has been regularly using the equipment provided to enable him to take out and show films in the local language to people living in the towns and villages around the diamond mining area in the east of the country. Funds are provided for vital training for leaders but the COVID pandemic has made it difficult to visit on a regular basis.

Burundi - The evangelist sponsored by the Charity is reported to be working effectively amongst the growing artisanal gold mining community in the north of country. Burundi continues to be one of the poorest and most needy countries in the world. The outreach to miners and their families continues to be effective, involving a large number of Christian clubs for children, regular hygiene classes and loan clubs. At least two football teams for teenagers are up and running, many of the players having work in the mining area.

Kenya - This project has been personally overseen by one of the Charity’s Trustees. The Kenyan pastor of the ‘Miner2Miner Ministries’ project continues to be supported on a regular basis, being provided with helpful materials for his work. The social centre and café meeting point where miners can meet up continues. The pilot scheme under the title MINING GOD’S WAY has had to be reconsidered in view of changed circumstances, partially caused by Covid restrictions, making a visit to the country impossible during the year. It is hoped to provide the necessary funds to purchase a motorbike for the Kenyan pastor to enable him to visit the various gold mining sites more easily and frequently.

North Macedonia - This small country just north of Greece and east of Albania has a large and growing copper mine located near the town of Radovis. It has been possible to make contact with a pastor and his wife who have started a church in the town recently. This pastor is keen to initiate contact with the miners, many of whom live in the town with their families. Funding has been provided to launch this project.

FUTURE PLANS

Future plans include the maintenance of all the projects currently funded/sponsored by the Charity. New opportunities for work in mining areas in other countries continue to be considered. The Charity’s website has been completely refreshed and updated. The Charity continues to provide its supporters with bi-monthly publications, ‘The Safety Lamp’ and ‘Prayer Link’. Efforts to advance the work of the Charity with newly interested people continue to be a priority.

RISK REVIEW

The directors undertake an annual wide ranging appraisal in order to identify the major risks to which the charity is exposed. Steps are taken with a view to mitigating these risks as far as is reasonably possible.

The directors are aware that the continued financial stability of the charity relies on contributions from friends. They believe that the time-frames for which such income is reasonably assured are satisfactory, and that expenditure that is linked to income is also managed along similar time-frames, so as to mitigate these risks so far as possible.

4

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31[st] DECEMBER 2021

FINANCIAL REVIEW

The result for the year is shown in the Statement of Financial Activities on page 8, and is considered satisfactory by the Trustees. The levels of both income and expenditure are consistent with the previous year. The loss in the year on the unrestricted fund of £14,798 (2020: £15,098) leaves the unrestricted fund with a balance of £130,478 (2020: £145,276), which the Trustees consider adequate to provide the charity with stability and enable longer term planning.

INVESTMENT POLICY & PERFORMANCE

The trustees’ policy is to retain any short-term surplus funds, including designated and restricted funds, in the highest possible interest-bearing accounts consistent with the objects of the charity, currently using the CAF Bank ‘Gold Account’. Investment performance was considered satisfactory by the trustees.

RESERVES POLICY

It is the policy of the Trustees to ensure that the charity has adequate reserves to enable it to meet both its ongoing commitments in regard to general charitable activities, and its future funding requirements. The Trustees require as reserves a minimum of three months’ expenditure in order to meet any contractual and winding-up costs.

At the year end the charity held Permanent Endowment funds of £75,200 (2020: £61,968) and unrestricted funds of £130,478 (2020: £145,276). It is intended that the General Fund will be reduced over the next 3 to 5 years.

STATEMENT OF DIRECTORS’ RESPONSIBILITIES

The Trustees (who are also the Directors of the International Miners' Mission for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

5

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31[st] DECEMBER 2021

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website.

So far as the Trustees are aware, there is no relevant information of which the charitable company’s independent examiner is unaware. The Trustees have taken all the steps that they ought to have taken in order to make themselves aware of any relevant information and to establish that the charitable company’s independent examiner is aware of the information.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

INDEPENDENT EXAMINER

Mr Nigel Manning was appointed the charitable company's independent examiner during the year and has expressed his willingness to continue in that capacity. A resolution proposing his re-appointment for a further year will be put to the Annual General Meeting.

On behalf of the Directors

Mrs Victoria I Yorke

Registered Office: 5 Old Rectory Court 61 Wood Street, Barnet. EN5 4BL EN5 4BL

6

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE)

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31[st] DECEMBER 2021

Independent examiner's report to the trustees of The International Miners’ Mission Charitable Company'

I report on the accounts of the company for the year ended 31[st] December 2021, which are set out on pages 8 to 14.

Responsibilities and basis of report

As the charity's trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

My role is to state whether any material matters have come to my attention giving me cause to believe:

Independent examiner's statement

I have completed my examination and I have no concerns in respect of any of the matters (1) to (4) listed above and in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.

Nigel Manning 53 Dysons Close Measham Swadlincote Derbyshire DE12 7NW 14th August 2022

7

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31[st] DECEMBER 2021

£
Donations and legacies
40,918
Charitable activities
-
Other trading activities
-
Investment
4,869
Other
-
TOTAL
45,787
Raising funds
2
(725)
Charitable activities
3
(59,785)
Other
4
(250)
TOTAL
(60,760)
Gain/(loss) on Investment
6,692
(8,281)
Gross transfers between funds
8
(6,517)
(14,798)
145,276
(14,798)
130,478
Unrestricted
Funds
Notes
INCOMING AND ENDOWMENTS
EXPENDITURE ON :
Balance at 1 January
BALANCE 31 DECEMBER
NET MOVEMENT IN FUNDS
NET INCOMING/(EXPENDITURE)
NET MOVEMENT IN THE FUNDS
RECONCILLATION OF FUNDS
£

6,395

-

-

-

-

6,395
-
(4,045)
-
(4,045)
-
2,350
-
2,350

-
2,350

2,350
Restricted
Funds
£

-

-

-

-

-

-
-
-
-
-

6,715

6,715

6,517

13,232

61,968

13,232

75,200
Permanent
Endowment
£

47,313

-

-

4,869

-

52,182
(725)
(63,830)
(250)
(64,805)
13,407

784

-

784

207,244

784

208,028
2021 Total
£

55,669

-

-

4,217

-

59,886
h
(2,096)
(62,558)
-
(64,654)

(16,931)

(21,699)

-

(21,699)

228,943

(21,699)

207,244
2020 Total

8

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE)

BALANCE SHEET

FOR THE YEAR ENDED 31[st] DECEMBER 2021

9
7
Cash held by Investment Manager
Note
FIXED ASSETS
Investments
CURRENT ASSETS
CAF Bond Income Fund
Amount falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
Cash at bank and in hand
FUNDS
Unrestricted fund
Restricted fund
Permanent Endowment		 £
£
126,053
-
73,231
9,084
82,315
( 340)
81,975
208,028
130,478
2,350
75,200
208,028
2021		 £
£
126,840
1,121
74,642
4,641
80,404
-
80,404
207,244
145,276
-
61,968
207,244
2020

These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31[st] December 2020.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees on 20th August 2022 and were signed on 20th August 2022

David R Shillitoe, Director Company Number: 90484

9

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[st] DECEMBER 2021

1 ACCOUNTING POLICIES

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 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

IMM meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

After making enquires, the Trustees have a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustee’s Responsibilities on pages 5 and 6.

Grants receivable, donations and subscriptions are recognised in the period when the charity has entitlement to the funds, any performance conditions attached to the item of income has been met, it is probable that the income will be received and the amount can be measured reliably.

Investment income is recognised on the receipts basis.

Grants paid are recognised on a payments basis.

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Costs are split between categories based on staff time.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities and include the charity’s governance costs. Governance costs are those costs associated with meeting the constitutional and statutory requirements of the charity and include the costs relevant to the strategic management of the charity.

Listed investments are shown at market value. Realised and unrealised gains are disclosed in the Statement of Financial Activities.

h) Funds

Unrestricted funds are incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general fund. Designated funds are unrestricted funds earmarked by the Trustees for a particular purpose. At the decision of the Trustees, previously designated funds may be transferred back to unrestricted general funds without further specified purpose. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of costs.

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments, these being unit trust investments, cash at bank, and creditors (see notes 7 and 9). Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

10

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[st] DECEMBER 2021

2 RAISING FUNDS

£
Calendars
255
Other Fundraising costs
470
725
3
Grants to Mission Stations Projects
54,010
Support Costs
4,783
Bank charges
501
Storage
401
Website
90
59,785
4
Independent examination
250
250
RESOURCES EXPENDED ON CHARITY'S OBJECTS
GOVERNANCE COSTS
Unrestricted
Funds		 £
-
-
-
4,045
-
-
-
-
4,045
-
-
Restricted
Funds		 £
255
470
725
58,055
4,783
501
401
90
63,830
250
250
2021 Total		 £
276
1,820
2,096
57,445
4,094
549
312
158
62,558
-
-
2020 Total

5 NET INCOMING RESOURCES

NET INCOMING RESOURCES
Net incoming resources is stated after charging: 2021 2020
£ £
Independent examiner's fees 250 -
Gain/(loss) on Investments 13,407 (16,931)

6 TRUSTEES' REMUNERATION

Trustees are not remunerated. No trustees received reimbursement of expenses for attending meetings during the year due to the Covid pandemic (2020: £nil). The trustees have a practice of then donating a sum equivalent to, or greater than, the sum reimbursed.

11

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[st] DECEMBER 2021

7 CURENT LIABILITIES: Amount falling due within one year

Website
Independent Examiner		 2021
£
250
90
340		 2020
£
-
-
-

8 FUNDS

Unrestricted fund
Permanent endowment
Total funds
Restricted funds		 145,276
-
61,968
207,244
Balance at
01/01/2021		 45,787
6,395
-
52,182
Incoming
Resources		 ( 60,760)
( 4,045)
-
( 64,805)
Outgoing
Resources		 6,692
( 6,517)
-
-
6,715
6,517
13,407
-
Investment
Gain/(loss)
Transfer		 130,478
2,350
75,200
208,028
Balance as
at 31/12/21

Unrestricted fund are incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general fund

Designated funds are unrestricted funds earmarked by the trustees for a particular purpose.

Restricted funds are those that have specific requirements laid down by the donor on the way it may be applied.

12

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE) THE INTERNATIONAL MINERS’ MISSION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[st] DECEMBER 2021

9 INVESTMENTS

(i)
Listed investments at market value
(ii)
£
£
£
72,367 54,473 126,840
11,231 - 11,231
(27,653) -
(27,653)
8,920
6,715
15,635
64,865 61,188 126,053
£
£
(i)
Ukraine
-
1,145
(ii) South Africa
-
650
(iii) Zimbabwe
-
1,600
(iv) Kenya
-
1,000
(v) Mining God's Way project
-
2,000
-
6,395
Market value at beginning of
Unrestricted
Fund
Endowmen
t Fund
RESTRICTED FUNDS
Balance at
01/01/2021
Incoming
Resources
Listed investments
Unrestricted fund
Endowment fund
Movement on listed securities during the year were as follows:
Additions to investments at cost
Total 2021
Less investments sold
Gain/(losses) on revaluation
Market value at end of year		 £
87,117
-
(1,212)
(13,538)
72,367
£

(1,145)

(300)

(1,600)

(1,000)

-

(4,045)
Unrestricted
Fund
Outgoing
Resources		 2021
£
64,865
61,188
£
61,074
3,262
(7,603)
(2,260)
54,473
£
-
-
-
-
-
-
Transfer

Endowment
Fund		 2020
£
72,367
54,473
£
148,191
3,262
(8,815)
(15,798)
126,840
£

-

350

-

-

2,000

2,350
Balance at
31/12/2021

Total 2020

10 RESTRICTED FUNDS

(i) represents donations made to support the missionary work in Ukraine.

(ii) represents donations made to support the missionary work in South Africa.

(iii) represents donations made to support the missionary work in Zimbabwe.

(iv) represents donations made to support the missionary work in Kenya.

(v) represents donations made to support the missionary work on the Mining God's Way project.

13

GLYNN VIVIAN MINER’S MISSION(INCORPORATED 1906)(THE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2021

11 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Permanent Endowment Fund
Restricted
Unrestricted		 £
61,188
-
64,865
126,053
Investments		 £
14,012
2,350
65,613
81,975
Net Current
Assets		 £
75,200
2,350
130,478
208,028
Total

The Endowment Fund was established by Richard Glynn Vivian on 26[th] September 1906, to provide capital for the Charity. The income arising from the permanent endowment fund can be applied to generality of the Charity's objects.

12 TAXATION

The International Miners' Mission is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part II Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

13 CAPITAL COMMITMENTS

There were no Capital Commitments at the year end, £nil (2020: £nil)

14