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|Reference and Administrative
Details|Reference and Administrative
Details||
|---|---|---|
|Trustees'
Report||2to7|
|Statement ofTrustees'|Responsibilities||
|Independent
Auditors'|Report|9to 13|
|Statement of Financial|Activities|14|
|Balance Sheet||15|
|Cash Flow Statement||16|
|Notes tothe Financial|Statements|17to 33|
##
|||||known as Society of|African Missions|African Missions|African Missions|African Missions|
|---|---|---|---|---|---|---|---|---|
|||||Reference and Administrative||||Details|
|Trustees||||Reverend TJ Ryan SMA|||||
|||||Reverend
D A McCaul|SMA||||
|||||Reverend
R Morland|SMA||||
|||||Reverend
W Brandon|SMA||||
|Principal|ONce|||378 Upper Brook Street|||||
|||||Manchester|||||
|||||M13 OEP|||||
|Charity Registration|||Number|232541|||||
|||||SC039285|||||
|Auditors|||||||||
|||||The Moffatts Partnership|||LLP||
|||||Suite 1.1,First Floor|||||
|||||Jackson House|||||
|||||Sibson Road|||||
|||||Sale|||||
|||||M33 7RR|||||
|Solidtors|||||||||
|||||Hill Dickinson|||||
|||||50 Fountain Street|||||
|||||Manchester|||||
|||||M2 2AS|||||
|Bankers||||Royal Bank ofScotland||pic|||
|||||StAnne's Square|||||
|||||Manchester|||||
|||||M2 7LG|||||
|Investment||Advisors||Castlefield
Partners|||||
|||||111Piccadilly|||||
|||||Manchester|||||
|||||M1 2HY|||||
|||||Coutts &Co|||||
|||||1st Floor, 1Spinningfields|||Square||
|||||Manchester|||||
|||||M3 3AP|||||
|Personnel||&Human|Resources|Direct Law &Personnel|||Ltd||
|||||Southerly
7,Waterfold||Park|||
|||||Bury|||||
|||||BL97BR|||||
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||||||||(As restated)|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|2022|2021|
||||Note|E|E|E|E|
|Income and Endowments|from:|||||||
|Donations
and legacies||||892,290|92,961|985,251|887,642|
|Charitable
activities||||62,400||62,400||
|Other trading activities||||37,980||37,980|52,091|
|Investment
income||||147,822||147,822|130,835|
|Other income|||||||1,685|
|Total Income||||1,140,492|92,961|1,233,453|1,072,253|
|Expenditure
on:||||||||
|Raising funds||||56,084||56,084|65,263|
|Charitable
activities||||1,237,365|119,243|1,356,608|1,198,500|
|Total Expenditure||||1,293,449|119,243|1,412,692|1,263,763|
|Gains/losses
on investment||assets||(1,294,961)||(1,294,961)|992,941|
|Net (expenditure)/income||||(1,447,918)|(26,282)|(1,474,200)|801,431|
|Other recognised gains and||losses||||||
|Other gains/losses||||6,476||6,476|12,622|
|Net movement
in funds||||(1,441,442)|(26,282)|(1,467,724)|814,053|
|Reconciliation offunds||||||||
|Total funds brought forward||||13,425,846|118,844|13,544,690|12,730,637|
|Total funds carried forward|||22|11,994,404|92,562|12,076,966|13,944,690|
##
##
##
||||||(As restated)|
|---|---|---|---|---|---|
||||Note|2022f|2021
f|
|Fixed assets||||||
|Tangible assets|||15|3,035,057|3,105,672|
|Investments|||16|6,666,529|8,007,943|
|||||9,701,586|11,113,615|
|Current assets||||||
|Stocks|||17|189,515|129,479|
|Debtors|||18|185,100|77,813|
|Investments|||19|790,561|790,032|
|Cash at bank|and in hand||20|1,427,242|1,662,362|
|||||2,592,418|2,659,686|
|Creditors: Amounts||falling due within one year|21|(217,038)|(228,611)|
|Net current|assets|||2,375,380|2,431,075|
|Net assets||||12,076,966|13,544,690|
|Funds ofthe|charity:|||||
|Restricted income funds||||92,562|118,844|
|Unrestricted|Income|funds||||
|Unrestricted|income|funds||11,984,404|13,425,846|
|Total funds|||22|12,076,966|13,544,690|
##
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|||Note|2022
f|2021f|
|---|---|---|---|---|
|Cash Rows from operating
activities|||||
|Net cash (expenditure)/income|||(1,467,724)|814,053|
|Adjustments
to cash Rows from non-cash items|||||
|Depreciation|||76,344|80,533|
|Investment
income|||(147,822)|(130,835)|
|Profit on disposal oftangible fixed assets|||(386)|(501)|
|Profit on disposal ofinvestments|||(299,725)|(105,247)|
|Revaluation
of investments|||1,594,686|(881,839)|
||||(244,627)|(223,836)|
|Working capital adjustments|||||
|(Increase)/decrease
in stocks||17|(60,036)|33,661|
|Increase
in debtors||18|(107,287)|(5,367)|
|Decrease in creditors||21|(11,573)|(122,090)|
|Net cash flows from operating|activities||(423,523)|(317,632)|
|Cash flows from investing
activities|||||
|Interest received|||4,983|2,820|
|Acquisitions
oftangible assets|||(6,115)|(20,142)|
|Proceeds from sale oftangible|assets||243|2,500|
|Acquisitions ofinvestments|||(5,578,157)|(2,540,423)|
|Proceeds from sale ofinvestments|||5,624,610|2,724,935|
|Dividend
income|||142,839|128,015|
|Net cash flows from Investing|activities||188,403|297,705|
|Net decrease
in cash and cash|equivalents||(235,120)|(19,927)|
|Cash and cash equivalents
at 1January|||1,662,362|1,682,289|
|Cash and cash equivalents
at31December|||1,427,242|1,662,362|
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|4|Income f|ro|m o|ther tradi|ng activities|||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted||||
|||||||funds|Total||Total|
|||||||General|funds||2021|
|||||||f||f|f|
|Lotteries and|||competitions||income|37,980||37,980|52,091|
|||||||37,980||37,980|52,091|
|5|Investment||income|||||||
|||||||Unrestricted|funds|||
|||||||||Total|Total|
|||||||Designated|General|2022|2021|
|||||||f|f|f|f|
|Income from||dividends;||||||||
||Dividends|receivable from|||other listed investments|34,398|108,441|142,839|128,015|
|Interest receivable||||and similar income;||||||
||Interest receivable on bank deposits||||||4,983|4,983|2,820|
|||||||34,398|113,424|147,822|130,835|
||||Total|Total|
|---|---|---|---|---|
||||2022|2021|
||||f|f|
|Other|income|||1,184|
|Gains|on sale oftangible|fixed assets for charity's own use||501|
|||||1,685|
##
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|Unrestricted|||
|---|---|---|
|funds|Total|Total|
|General|2022|2021|
|f|f|f|
|21,964|21,964|22,523|
|21,964|21,964|22,523|
##
|||||Unrestricted|funds|||
|---|---|---|---|---|---|---|---|
|||||||Total|Total|
|||||Designated|General|2022|2021|
|||||f|f|f|f|
|Amounts|payable|to|investment|||||
|managers||||9,808|24,312|34,120|42,740|
##
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##
|8
Expenditure
on|cha|ritable
activities|||||
|---|---|---|---|---|---|---|
||||Unrestricted||||
||||funds|Restricted|Total|Total|
||||General|funds|2022|2021|
||||f||f|f(As restated)|
|Costs of Masses &|Mass Cards||39,369||39,369|63,411|
|Costs of Community|Accommodation||163,264||163,264|151,377|
|Provincial
Costs|||226,248||226,248|210,937|
|Charitable
Distributions|||441,650|119,243|560,893|423,920|
|Stationery
&Postages|||114,297||114,297|106,763|
|Costs of Mission News|||16,043||16,043|15,558|
|Staff Costs|||138,075||138,075|121,792|
|Legal and Professional||Fees||||2,895|
|Bank Charges|||5,839||5,839|5,802|
|Depreciation
oftangible assets|||76,344||76,344|80,533|
|Loss on disposal of|assets||386||386||
|Auditors
Remuneration|||15,850||15,850|15,512|
||||1,237,365|119,243|1,356,608|1,198,500|
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|||||Unrestricted|||
|---|---|---|---|---|---|---|
|||||funds|Total|Total|
|||||General|2022|2021|
|||||f|f|f|
|Audit fees|||||||
|Audit ofthe financial statements||||14,400|14,400|14,142|
|Other fees|paid to auditors|||1,450|1,450|1,370|
|||||15,850|15,850|15,512|
|10 Net Incoming/outgoing||resources|||||
|Net outgoing|resources for|the year include:|||||
||||||2022|2021|
||||||f|f|
|Audit fees|||||14,400|14,142|
|Loss on disposal offixed assets held forthe charity's|||own use||386||
|Depreciation|offixed assets||||76,344|80,533|
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|The aggregate
payroll costs were as follows:|||
|---|---|---|
||2022|2021|
||f|f|
|Staff costs during the year were:|||
|Wages and salaries|134,934|119,323|
|Pension costs|3,141|2,469|
||138,075|121,792|
|charity dur|ing the year expressed
as full time equivale|nts
was as follows:||||
|---|---|---|---|---|---|
|||2022||2021||
|||No||No||
|Charitable|Activities||15||14|
##
|13 Auditors'
remuneration|||
|---|---|---|
||2022|2021|
||f|f|
|Audit ofthe financial statements|14,400|14,142|
|Other fees to auditors|||
|All other non-audit
services|1,450|1,370|
##
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##
|15 Tangible fixed assets||||||
|---|---|---|---|---|---|
||Land and|Furniture
and||Computer||
||buildings
f|equipment
f|Motor vehicles
f|equipment
f|Total
f|
|Cost||||||
|At 1January 2022|3,725,062|96,817|121,650|79,337|4,022,866|
|Additions||449||5,666|6,115|
|Disposals||||(1,960)|(1,960)|
|At 31December 2022|3,725,062|97,266|121,650|83,043|4,027,021|
|Depreciation||||||
|At 1January 2022|678,043|83,342|82,385|73,424|917,194|
|Charge forthe year|60,940|2,786|9,818|2,800|76,344|
|Eliminated
on disposals||||(1,574)|(1,574)|
|At 31December 2022|738,983|86,128|92,203|74,650|991,964|
|Net book value||||||
|At 31December 2022|2,986,079|11,138|29,447|3,393|3,035,057|
|At 31December 2021|3,047,019|13,475|39,265|5,913|3,105,672|
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|18 Debtors|||||
|---|---|---|---|---|
||||2022|2021|
||||f|f|
|Trade debtors||||1,684|
|Prepayments|||30,953|32,014|
|Accrued income|||152,095|42,063|
|Other debtors|||2,052|2,052|
||||185,100|77,813|
|19 Current asset investments|||||
||||2022f|2021
E|
|Cash deposits|||790,561|790,032|
|20 Cash and cash equivalents|||||
||||2022|2021|
||||f|f|
|Cash on hand|||7,103|5,848|
|Cash at bank|||1,420,139|1,656,514|
||||1,427,242|1,662,362|
|21 Creditors: amounts||falling due within one year|||
||||2022|2021|
||||f|f(As restated)|
|Trade creditors|||8,463|25,502|
|Other taxation|and social security||358|362|
|Other creditors|||172,916|159,205|
|Pension scheme creditor|||150|150|
|Accruals|||35,151|43,392|
||||217,038|228,611|
##
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##
|22 Funds||||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||||Balance at|
||||||Balance at|||Other|31|
||||||1January|Incoming|Resources|recognised|December|
||||||2022
f|resources
f|expended
f|gains/(losses)
f|2022
f|
|Unrestricted|funds|||||||||
|General||||||||||
|Unrestricted||Income Fund|||11,154,201|1,106,094|(1,283,641)|(951,795)|10,024,859|
|Designated||||||||||
|Medical and||Retirement||Fund|1,971,645|34,398|(9,808)|(336,690)|1,659,545|
|Renovation||Fund|||250,000||||250,000|
|International||Members||Fund|50,000||||50,000|
||||||2,271,645|34,398|(9,808)|(336,690)|1,959,545|
|Total unrestricted|||funds||13,425,846|1,140,492|(1,293,449)|(1,288,485)|11,984,404|
|Restricted funds||||||||||
|International||Profects|||118,844|92,961|(119,243)||92,562|
|Total funds|||||13,544,690|1,233,453|(1,412,692)|(1,288,485)|12,076,966|
##
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##
||||||||||Balance at|
|---|---|---|---|---|---|---|---|---|---|
||||||||||31|
||||||Balance at|||Other|December|
||||||1January
2021
f|Incoming
resources
f|Resources
expended
f|recognised
gains/(losses)
f|2021
f( s
restated)|
|Unrestricted|funds|||||||||
|General||||||||||
|Unrestricted||Income Fund|||10,676,000|917,649|(1,193,059)|753,611|11,154,201|
|Designated||||||||||
|Medical and||Retirement||Fund|1,697,139|33,284|(10,730)|251,952|1,971,645|
|Renovation||Fund|||250,000||||250,000|
|International||Members||Fund|50,000||||50,000|
||||||1,997,139|33,284|(10,730)|251,952|2,271,645|
|Total unrestricted|||funds||12,673,139|950,933|(1,203,789)|1,005,563|13,425,846|
|Restricted||||||||||
|International||Projects|||57,498|121,320|(59,974)||118,844|
|Total funds|||||12,730,637|1,072,253|(1,263,763)|1,005,563|13,544,690|
##
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##
##
||||||Total funds at|Total funds at|
|---|---|---|---|---|---|---|
|||Unrestricted|funds|Restricted|31December||
|||General
f|Designated
f|funds
f||2022
f|
|Tangible|fixed assets|3,035,057||||3,035,057|
|Fixed asset investments||5,006,984|1,659,545|||6,666,529|
|Current|assets|2,199,766|300,000|92,652||2,592,418|
|Current|liabilities|(217,038)||||(217,038)|
|Total net assets||10,024,769|1,959,545|92,652||12,076,966|
||||||Total funds at||
|||Unrestricted|funds|Restricted|31December||
|||General
f|Designated
f|fundsf|f|2021
(As restated)|
|Tangible|fixed assets|3,105,672||||3,105,672|
|Fixed asset investments||6,036,298|1,971,645|||8,007,943|
|Current|assets|2,240,842|300,000|118,844||2,659,686|
|Current|liabilities|(228,611)||||(228,611)|
|Total net assets||11,154,201|2,271,645|118,844||13,544,690|
##
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|24 Analysis ofnet funds||||||
|---|---|---|---|---|---|
||||||At 31|
||At 1January|Rnancing|cash|Exchange|December|
||2022|Rows||movement|2022|
||f|f||f|f|
|Cash at bank and in hand|1,662,362|(241,596)||6,476|1,427,242|
|Current asset investments|790,032||529||790,561|
|Net debt|2,452,394|(241,067)||6,476|2,217,803|
||||||At31|
||At 1January|Rnancing|cash|Exchange|December|
||2021|flows||movement|2021|
||f|f||f|f|
|Cash at bank and in hand|1,682,289|(32,549)||12,622|1,662,362|
|Current asset investments|790,033||(1)||790,032|
|Net debt|2,472,322|(32,550)||12,822|2,432,334|
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