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2022-09-30-accounts

Wycliffe UK Ltd

Company number: 819788

Charity numbers: 251233 (England and Wales) SC039140 (Scotland)

Annual Report & Financial Statements for the year ended 30 September 2022

Contents

Annual Report

Audit Report and Financial Statements

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Vision

Wycliffe Bible Translators has a big vision: A world where everyone can know Jesus through the Bible.

Today, 1 in 5 people still don’t have the Bible in the language they understand best – that’s 1.5 billion people. Imagine not being able to turn to Psalms when you’re in trouble, or hear the Christmas and Easter stories read at church.

John Wycliffe translated the Bible into English in the 14th century. 640 years later, dedicated Bible translators around the world are following in his footsteps and making extraordinary sacrifices to bring Scripture to their people. Our task is to serve them.

Our mission is to serve local partners worldwide as they bring God’s word to their communities in the language which speaks to them best.

Objectives and activities

Of the world’s 7,388 languages, only 724 have a full Bible and a further 1,617 have a complete New Testament. The Bible transforms lives but if 1 in 5 people can’t understand God’s word for themselves, it can’t transform them as God intended.

We work for people like Lonh, a farmer and church leader in Cambodia who speaks Bunong. When Lonh was a child there was no Scripture at all in his language. One day, Lonh had a dream that he felt was from God. He realised that, just as coffee crops require fertiliser, for the Bunong people to grow they needed the Bible. Lonh quit his job and became a Bible translator. A decade later, his efforts were rewarded and the New Testament was published in Bunong. The church Lonh pastors has grown from 15 to 100 people, and other Bunong churches are growing too. It was his fellow pastors who asked Lonh to keep going, so that they could have the Old Testament too.

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‘I agree with them – why should we not be like our brothers and sisters in the West who have both Testaments? Then we can know all about the promises of God from the Old Testament and how they came to be fulfilled through Jesus.’

Our supporters are partnering with Lonh and his team, and we hope the full Bible will be finished by 2030.

We believe we are participating in one of the most crucial aspects of world mission today: when people take the Bible’s message to heart, they are brought to faith in Jesus and equipped to live as his followers. In this way lives are changed by God and churches grow, with consequent lasting impact on whole communities.

Our primary contribution is through the provision of highly trained personnel, funding for translation programmes, and leadership and support services. Wherever possible, activities take place in partnership with local communities and local churches at their invitation. Translation programmes managed by partners typically include:

  1. Creating writing systems : the majority of languages with no Scripture have never been written down before.

  2. Literacy : teaching people how to read in their own language.

  3. Translation : bringing God’s word into their language for the first time.

  4. Scripture engagement: equipping people to understand the Bible’s message for themselves so they can read it more fruitfully.

A key principle is to train local people to do this work themselves, under their leadership and ownership, rather than outsiders doing it on their behalf. Hence, working with local and international partners, we aim to resource and mentor people with the skills, training, support, and funding they need. This approach invests in communities, allowing them to sustain development after our involvement has ended.

Wycliffe operates within a global framework of over 100 autonomous partners within the Wycliffe Global Alliance working together to bring the Bible to people in their languages for the first time. Together, we are involved in around 75% of the 3,266 translation

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programmes currently in progress across the world. More Bible translation work is going on now than ever before, and the rate of progress has never been higher. We thank God for the generosity of supporters which makes this possible.

The public benefit of Bible translation activity reaches far beyond those who are becoming Christians, bringing whole communities the benefits of increased literacy and training – an essential platform also for wider community development and lifting people out of poverty.

The strategy employed to fulfil our objectives has been developed with reference to the Charity Commission’s guidance on public benefit. It is implemented through a strategic plan which aims at greater global impact and increased operational effectiveness.

We aim to:

  1. Enable successful Bible translation programmes (creating writing systems, literacy, translation, Scripture engagement) by building the capacity of local communities and international partners:

  2. a. Resourcing our partners with people – recruiting, training and connecting personnel (‘members’) to roles with partner organisations around the world, including in strategic leadership positions within the global Bible translation movement. We develop the skills that are needed and place people where they can have the greatest impact, as well as providing them with emotional, practical and spiritual support to sustain effective ministry.

  3. b. Resourcing our partners with funds – stewarding the resources we are given to provide the finance needed by translation programmes; providing consultancy and project management where needed to assist local leaders to ensure effective use of funds; and helping build our partners’ individual and organisational capacity in pursuit of maximum long-term impact.

  4. Develop awareness of the global translation task in the UK among churches, individuals, and organisations by giving people opportunities to:

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Achievements and performance

As one of the world’s largest participants in the global Bible translation effort outside the USA, Wycliffe Bible Translators and our supporters continue to play a significant role in seeing the work accelerate.

The past year was marked by political instability and economic uncertainty. Events in the UK have led some of our partners overseas to ask us if we are still able to honour the financial promises we made to them, especially as their own costs are under strain. Yet in the midst of all this uncertainty, God remains steadfast. His mercies never come to an end. Great is his faithfulness. We rejoice that last year proved to be a record-breaking year for Bible translation globally, with work beginning in 367 languages – that’s the equivalent of one a day! We give thanks that we are able to play our part in the progress being made by the Bible translation movement worldwide.

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God has continued to ensure that his word is becoming more available to more people in their languages, so that more people can know Jesus through the Bible.

We are grateful to God, and to those who support this work, for the progress being made towards seeing our vision become a reality.

In last year’s report we shared a three-year horizon, with three main strategic objectives set for the three years ahead. The past year has seen the following progress towards these objectives:

1. Invest in partner support

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2. Scale up our support base

3. Refresh our operating models

We are enormously grateful to God for the hard work and dedication of members, staff and volunteers in playing their part to help create a world where everyone can know Jesus through the Bible.

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Financial review

We continue to be deeply thankful to God for the many individual donors, charitable trusts, and churches who give so generously.

Total income for the year was £9,377k (2021: £8,350k), with donations and legacies providing 99% of this total (2021: 99%), including:

The Board is pleased to see significant growth in unrestricted income, reflecting the trust supporters place in us to use their gifts where they can be most effective in supporting our partners.

We are grateful to those who have left a gift to Wycliffe in their will. Legacy income was significantly above what was anticipated, with income here allowing us to invest in Bible translation projects over the coming years.

£734k was received in gifts through illumiNations, a donor-led fundraising initiative involving a collaboration of Bible translation organisations. We are grateful to those who share our vision and drive to see the pace of Bible translation quicken.

Total expenditure for the year was £8,638k (2021: £7,862k), with charitable expenditure representing 96% of this total (2021: 96%), comprising:

4% of expenditure (£388k) was used to raise funds (2021: 4%, £306k).

The year ended with a surplus of £462k (2021: £745k surplus) after net investment gains/losses.

The balance sheet remains strong, with net assets of £7,231k (2021: £6,769k) comprising:

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Reserves policy

The charity’s policy is to maintain unrestricted funds at a level sufficient to cover six months of operating costs. The trustees consider that this level of reserves is appropriate to ensure the ongoing work of the charity in the event of a significant reduction in support. As at 30 September 2022, £1,387k was held in the general fund, sufficient to cover six months’ operating expenses.

Designated funds (see note 16) are held to sustain future grants to partners and continue growth of income and impact in order to meet the needs of the 1 in 5 people around the world who still don’t have the Bible in their language.

Since translation programmes take place over many years, our international partners need to know they can depend on us. The programme sustainability fund ensures that, together with project restricted funds, we hold 12 months of anticipated grants to our partners, providing reassurance that we won’t let them down if we are faced with shortterm income volatility or foreign exchange movements.

Stewardship of the growth of ministry fund over the last few years has allowed us to make strategic investments in the charity in order to achieve our vision. This fund is retained to cover planned deficits and unexpected contingencies in pursuit of the longterm sustainable growth of the charity. Recent use of this fund has helped double fundraised income over the last two years.

With the pace of Bible translation quickening, the accelerating impact fund allows us to make multi-year strategic investments in the capacity of our partners. Over the last year, the fund has been enhanced by last year’s surplus (£462k) and by releasing the whole of our future building requirements fund (which has been closed). We plan to spend these funds over the next five years, investing in new and existing translation programmes. Bible translation is long-term work that needs dependable funding, and we believe this approach allows us to deliver the best outcomes while at the same time continuing to raise the funds we need to sustain long-term progress.

The total charity funds held at the year end represent 8.5 months of the total planned expenditure for the current year ending 30 September 2023.

Investment policy

Our investment policy is to keep funds needed for short-to-medium term purposes in cash or cash equivalents which can be accessed immediately or within 12 months; and to invest funds needed for the long term in a portfolio managed by Rathbones and, starting in 2023, additionally in Cazenove’s Charity Responsible Multi-Asset Fund.

We have an ethical approach to investment, requiring Rathbones and Cazenove not to invest our funds in companies whose principal business is in armaments, gambling, pornography, tobacco or alcohol.

The trustees will continue to engage actively with Rathbones and Cazenove about the performance and expectations for these investments.

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Future plans

Advances in technology and training mean that some exciting goals are possible within the next 15 years. If there continues to be increased engagement globally, we could see:

In order to fulfil our vision of a world where everyone can know Jesus through the Bible, we have been looking at how we can build capacity, set out below on a three-year horizon and plans for the next year.

Three-year strategy (2021–2024)

The past year was the first of our three-year strategic plan, during which time frame we’re working towards larger goals to achieve a significant increase in impact and be ready for a changing world. We have three main strategic objectives for 2021–2024:

1. Invest in partner support. Because we work through partners, we achieve greater impact by resourcing our partners with whatever they need from us to be successful. This will include: investing in member training; building greater capacity within our partners to train national workers; and increasingly providing the funds and support needed to help national leaders and their organisations in ways which support their long-term sustainability.

2. Scale up our support base. Increased investment in our partners is generated by growth in our support – as Christians and churches support those partners’ work through us. This will include: growing donations for this work by over 10% per year from 2023; growing the number of volunteers who can advocate for Bible translation in churches; and identifying additional individuals who have the potential to serve as members or volunteers.

3. Refresh our operating models. In a changing world, our internal systems and assumptions will hold us back unless we review and refresh them. This will include: piloting a new additional member model that allows for more varied pathways for service; reviewing our corporate structure; and reviewing our internal operations with the goal of eliminating unnecessary complexity in order to be the agile and robust organisation our partners need.

2022–23 plans

During the current year we have planned activities and outcomes across our three main objectives:

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1. Invest in partner support:

2. Scale up our support base:

3. Refresh our operating models:

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Structure, governance and management

Governing documents

Wycliffe UK Ltd is a company limited by guarantee, and governed by its Memorandum of Association (June 2022) and Articles of Association (June 2022). During the year a minor administrative update was made to these, with changes to permit hybrid online attendance at Annual General Meetings. It is registered as a charity with the Charity Commission and the Office of the Scottish Charity Regulator. Membership is open to anyone over the age of 18 able to affirm the Doctrinal Basis and wishing to serve in support of Bible translation. Each member with voting rights agrees to contribute £1 in the event of the company being wound up while they are a member or within one year of ceasing to be a member.

The charitable objects are:

  1. The Association is formed to glorify God by promoting:

  2. a. the translation of the Holy Scriptures into vernacular languages;

  3. b. the publication and distribution of these vernacular Scriptures.

  4. The objects of the Association are:

  5. to promote the Christian faith and Christian religion and in particular the translation, publication and dissemination of the Bible in different languages;

  6. the advancement of education (particularly in relation to the Christian religion, knowledge of the Bible and Christian doctrine, faith and practice), language and literacy; and

  7. the relief of poverty.

Organisational structure

The Board of Trustees oversees the charity and normally meets quarterly. A subcommittee covers finance and legal matters, another covers HR issues and safeguarding; other advisory groups are formed as required. The Executive Director is appointed by the trustees to manage the day-to-day operations with delegated authority within terms

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approved by the trustees through a Governance Policy. The Executive Director is supported by a leadership team.

Trustee appointment, induction and training

New trustees are normally recruited by direct invitation from the existing board members and are identified either by the board members, by referral to the board, or by external advertising. In extending invitations to individuals, account is taken of the skills and diversity present and needed around the board table. Once mutual agreement as to the suitability of the appointment has been established, new trustees may be appointed to serve in association with the board until the next round of board elections which take place every two years. New trustees and those standing for re-election are elected by the voting membership and normally serve for a term of four years.

Induction of potential trustees includes provision of information on the requirements of being a charity trustee and company director as well as the governing documents and relevant guidelines from the Charity Commission and Companies House. They are invited to attend board meetings and other activities to familiarise themselves with the organisation.

Trustees are encouraged to attend appropriate external training events where this will facilitate the undertaking of their role.

Charity Governance Code

The trustees refer to the Charity Governance Code and seek to implement the recommendations in continually aiming for best practice and ongoing improvement. One current trustee has held office longer than the recommended maximum of three terms; the trustees consider this to be for the benefit of the charity since the individual brings long experience of relating to businesses and other charities committed to this sector of work.

Personnel

Wycliffe is a membership organisation, with 413 members (FY21: 420) of whom 255 have voting rights (FY21: 274) at the year end. Members are not employees and so receive no salary from the organisation but are supported through the generosity of churches, friends, family and other donors. Donations for such member support are received by Wycliffe as restricted income. The majority of members are assigned to serve language programmes around the world in collaboration with partner organisations.

Non-voting members include those still in training or early assignment, together with retirees and honorary members recognised for outstanding contribution through their employed or volunteering roles.

In addition to members, personnel at the end of the year was 43 employees and 88 volunteers.

Remuneration of key management personnel

The trustees, who also serve as company directors, consider the key management personnel to be the board of trustees and the leadership team.

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None of the trustees receive any remuneration or other benefit from their work with the charity. Trustees are required to disclose all relevant interests, including those with any related parties, and in accordance with the Governance Policy withdraw from decisions if any conflict of interest should arise. Details of trustee expenses and related party transactions are given in note 10 to the financial statements.

Salaries of the leadership team are set by the trustees with advice from the People Committee and reviewed annually with reference to charity sector benchmarks. The remuneration and benefits received by key management personnel is stated in note 9 to the financial statements.

Risk management

Our risk management strategy comprises:

In particular, this process has identified the following primary risks:

The strategic plan was developed with reference to this risk-management strategy. The trustees review risk-management issues on a quarterly basis, and conduct a full risk review annually.

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Safeguarding and whistleblowing

We are committed to providing a safe and trusted environment for our personnel, those we serve, and their families. We require the highest ethical and moral standards from all our personnel and take misconduct seriously. An independent reporting service is provided to encourage anyone to bring safeguarding or whistleblowing concerns to our attention. During the year no safeguarding issues were reportable to the Charity Commission (2021: none).

Fundraising

We are committed to ensuring that all fundraising is carried out in an ethical and godly manner, and have a biblical fundraising policy which guides our practice in this area. The charity has registered with the Fundraising Regulator, and complies with its Code of Fundraising Practice. We do not engage outside agents to approach the public on our behalf.

We appreciate and encourage feedback, whether positive or negative. During the year we received one fundraising complaint (FY21: two). An appropriate response was made and it was resolved in a timely manner.

We aim to treat all supporters with respect, dignity and confidentiality and seek to protect vulnerable people and others from unreasonable intrusion when receiving our fundraising communications. We monitor the responses to these communications together with feedback and requests for change, to ensure that recipients are in no way pressured into doing anything that they do not wish to do. We remove recipients from our mailing list whenever asked and adhere to our Vulnerable Supporters policy.

Related companies

Details of dormant subsidiary companies are given in note 20 to the financial statements. These are retained for name protection purposes only.

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Corporate directory

Wycliffe UK Ltd operates under the name of Wycliffe Bible Translators. Charity registration numbers 251233 (England and Wales) SC039140 (Scotland) Company registration Limited by guarantee, number 819788

Trustees

David Steinegger Chair Jane Showell-Rogers Vice-Chair Ayo Adedoyin Kevin Ashman Rebecca Benton Chair of People Committee Joe Kelly (until 22 June 2022) Ian Kirby Kenneth MacKenzie James Turner Chair of Finance & Legal Committee Roger Welch (until 26 March 2022)

Secretary

Esme Scott

Leadership team

James Poole Executive Director Neil Graham Director for Churches Claire Hollis Director of Finance & Operations Robin Peake Director for Supporters Ann Saunders Director for People Andy Bell (from 9 May 2022) Director for International Partnerships

Bankers

National Westminster Bank plc, High Wycombe Branch, 33 High Street, High Wycombe, Bucks, HP11 2AG

Investment managers

Rathbone Investment Management Ltd, 8 Finsbury Circus, London, EC2M 7AZ

CCLA Fund Managers Ltd, Senator House, 85 Queen Victoria Street, London, EC4V 4ET Schroder & Co. Limited, trading as Cazenove Capital, 1 London Wall Place, London, EC2Y 5AU

Solicitors

Edward Connor Solicitors, 41 The Point, Market Harborough, LE16 7QU

Auditors

Critchleys Audit LLP, Beaver House, 23-38 Hythe Bridge Street, Oxford, OX1 2EP

Registered office

Wycliffe UK Ltd, CMS House, Watlington Road, Oxford, OX4 6BZ

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Other offices

Wycliffe Bible Translators, Skainos Square, 239 Newtownards Road, Belfast, BT4 1AF Wycliffe Bible Translators, ℅ EMW, Waterton Cross Business Park, South Road, Bridgend, CF31 3UL

Statement of trustees’ responsibilities

The trustees (who are also directors of Wycliffe UK Ltd for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. The trustees have elected to prepare the financial statements in accordance with UK Generally Accepted Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Under company law, the trustees must not approve the financial statements unless they are satisfied that they 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 the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

So far as the trustees are aware at the time of approving the trustees’ report:

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This report was approved by the trustees on 22 March 2023 and signed on their behalf by:

David Steinegger (Mar 23, 2023 09:53 GMT)

David Steinegger Chair

Then Jesus came to them and said, ‘All authority in heaven and on earth has been given to me. Therefore go and make disciples of all nations, baptising them in the name of the Father and of the Son and of the Holy Spirit, and teaching them to obey everything I have commanded you. And surely I am with you always, to the very end of the age.’ Matthew 28:19–20 (NIV)

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Independent auditor’s report to the members of Wycliffe UK Ltd

Opinion

We have audited the financial statements of Wycliffe UK Ltd (‘the charitable company’) for the year ended 30 September 2022 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements 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’s Ethical Standard, 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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 assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

or

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 18, the trustees (who are also the directors of the charitable company for the purposes of

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company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s 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 (UK) 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 these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available 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.

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Robert Kirtland (Senior Statutory Auditor)

For and on behalf of Critchleys Audit LLP, Statutory Auditor Beaver House 23-38 Hythe Bridge Street Oxford

Mar 28, 2023

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WYCLIFFE UK LTD

Statement of Financial Activities

(including the income and expenditure account) For the 12 months to 30 September 2022

Current Year
Unrestricted
Restricted
Note
funds
funds
Total
£
£
£
Income from:
Donations and gifts
2
1,523,025
6,582,793
8,105,818
Legacies
1,124,573
61,002
1,185,575
2,647,598
6,643,795
9,291,393
Investments
32,475
-
32,475
Charitable activities
10,660
-
10,660
Other
42,934
-
42,934
Total Income
2
2,733,667
6,643,795
9,377,462
Expenditure on:
Raising funds
4
387,979
-
387,979
Charitable activities
5,6,7
1,634,648
6,615,799
8,250,447
Total Expenditure
2,022,627
6,615,799
8,638,426
Net gains/(losses) on investments
12
(277,412)
-
(277,412)
Net Income/(expenditure)
8
433,628
27,996
461,624
Transfers between funds
16,17
-
-
-
Net movement in funds
433,628
27,996
461,624
Reconciliation of funds
Total funds brought forward
6,137,568
631,649
6,769,217
Total funds carried forward
6,571,196
659,645
7,230,841		 Prior Year
Unrestricted
Restricted
funds
funds
Total
£
£
£
1,033,907
6,572,312
7,606,219
609,713
80,320
690,033
1,643,620
6,652,632
8,296,252
36,753
-
36,753
15,367
-
15,367
1,905
-
1,905
1,697,645
6,652,632
8,350,277
306,487
-
306,487
1,166,807
6,388,708
7,555,515
1,473,294
6,388,708
7,862,002
257,008
-
257,008
481,359
263,924
745,283
24,194
(24,194)
-
505,553
239,730
745,283
5,632,015
391,919
6,023,934
6,137,568
631,649
6,769,217

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WYCLIFFE UK LTD

Balance Sheet as at 30 September 2022

Notes
Fixed assets
Tangible assets
11
Investments
12
Total fixed assets
Current assets
Debtors
13
Cash at bank and in hand
Creditors:
Amounts falling due within
one year
14
Net current assets
Net assets
Funds
Unrestricted funds:
16
General fund
Designated funds
Restricted funds
17
Total charity funds		 £
£
-
1,572,339
1,572,339
323,257
5,655,332
5,978,589
320,087
5,658,502
7,230,841
1,386,647
5,184,549
6,571,196
659,645
7,230,841
30 September 2022		 £
£
-
1,836,997
1,836,997
447,658
4,720,687
5,168,345
236,125
4,932,220
6,769,217
1,631,707
4,505,861
6,137,568
631,649
6,769,217
30 September 2021

The financial statements of Wycliffe UK Ltd., registered number 819788, were approved by the Board on 22 March 2023 and signed on its behalf by:

David Steinegger (Mar 23, 2023 09:53 GMT)

James Turner

James Turner (Mar 24, 2023 20:12 GMT)

David Steinegger Chairman

James Turner Treasurer

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WYCLIFFE UK LTD

Statement of Cash Flows

For the year to 30 September 2022

Dividends and interest from investments
Cash flows from operating activities:
Cash flows from investing activities:
Adjustments for:
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Proceeds from sale of investments
Purchase of investments
Movement in investment cash
Net cash provided by (used in) investing activities
Cash at bank and in hand
Net cash provided by (used in) operating activities
Analysis of cash and cash equivalents
Total cash and cash equivalents
Net cash provided by (used in) operating activities
Depreciation charges
Unrealised (gains)/losses on investments
Dividends and interest from investments
Loss/(profit) on the sale of fixed assets
Decrease in debtors
Increase / (decrease) in creditors
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting
period
Cash and cash equivalents at the end of the reporting period
Reconciliation of net income to net cash flow from operating
activities
Net income/(expenditure) for the reporting period (as per
the Statement of Financial Activities)		 £
£
914,924
32,475
466,170
(478,924)
-
19,721
934,645
4,720,687
5,655,332
461,624
-
277,412
(32,475)
-
124,401
83,962
914,924
5,655,332
5,655,332
30 September 2022		 £
£
525,152
36,753
433,975
(309,785)
-
160,943
686,095
4,034,592
4,720,687
745,283
-
(257,008)
(36,753)
-
91,134
(17,504)
525,152
4,720,687
4,720,687
30 September 2021

27

WYCLIFFE UK LTD

Notes to Accounts for year ended 30 September 2022

1. Accounting policies

Statement of compliance

Wycliffe UK Ltd is a charitable company limited by guarantee, incorporated in England, number 819788. The charity registered number in England and Wales is 251233 and in Scotland is SC039140. The registered office is CMS House, Watlington Road, Oxford OX4 6BZ. The nature of operations is the activity of religious organisations and its principal activities are the work of Bible Translation, Scripture Use and Literacy.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are as follows:

a) Basis of preparation and assessment of going concern

Wycliffe UK Ltd is a public benefit entity. The financial statements have been prepared under the historical cost convention, modified by the revaluation of investments to market value, and in compliance with the Companies Act 2006, the Charities Act 2011, FRS 102 The Financial Reporting Standard, and the Charities SORP (FRS 102).

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

b) Group financial statements

These accounts incorporate the results of the charity and exclude any information for its wholly owned dormant subsidiary companies which are detailed in note 20 of these accounts.

c) Income

Voluntary income arising from donations, gifts and legacies is included in the Statement of Financial Activities when the charity is legally entitled to the income, it is probable the income will be received and the amount can be quantified with reasonable accuracy.

For legacies, entitlement is taken as the earlier of the date on which either the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material.

Gift Aid arising from donors' gifts is applied to the same fund as the donation, unless stipulated otherwise by the donor, and in the accounting period in which the gift was received.

Interest received is credited to general funds by agreement of the membership.

Income from other charitable activities is recognised as earned (as the related services are provided).

Investment income is recognised on a receivable basis.

d) Expenditure

All expenditure is recognised when a liability is incurred and has been classified under headings that aggregate all costs related to that particular heading.

Costs of raising funds are those costs incurred in attracting voluntary income.

Costs of charitable activities, including grants made, are expenses directly incurred in achieving the objectives of the charity.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Those costs not directly attributable to one particular activity are allocated on a percentage basis, which reflects an estimate of usage.

Support costs are not charged to some restricted funds as they can not be easily quantified and assessment is taken to cover some of these costs.

28

WYCLIFFE UK LTD

Notes to Accounts for year ended 30 September 2022

Grants payable are payments made to institutions or individuals in the furtherance of the charitable objects of the charity and are recognised when a constructive obligation arises and the trustees have agreed to pay the grant.

e) Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Tangible fixed assets costing more than £5,000 are capitalised. Depreciation is provided at the following rates on a straight line basis so as to write off each asset over its expected useful working life:

Computer equipment Between 3 and 5 years Furniture and other equipment Between 3 and 10 years Leasehold improvements The term of the lease

f) Investments

Listed investments are stated at market value. Realised and unrealised gains are reflected through the Statement of Financial Activities.

g) Cash at bank and in hand

Cash at bank and in hand includes all cash equivalents held as short-term liquid investments with maturities of three months or less.

h) Pension costs

The charity operates a group Auto Enrolment qualifying pension defined contribution scheme, for employees. The amount charged in the Statement of Financial Activities is the charity's contributions payable for the year.

i) Foreign currencies

Transactions in foreign currencies are translated to sterling at rates ruling at the date of the transaction. Assets and liabilities are translated into sterling at the rate of exchange ruling at the balance sheet date.

j) Leased assets

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership have passed to the charity, are recorded in the balance sheet as fixed assets and future obligations are included in creditors net of finance charges. Payments are apportioned between the capital element and the finance element which is charged to the Statement of Financial Activities as interest.

The costs of operating leases are charged to expenditure as they are due and payable.

k) Funds

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes as detailed in note 16 to these accounts.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for particular purposes as detailed in note 17.

l) Volunteer services

The charity benefits from the services of volunteers who spend many hours assisting in various areas as required. The trustees are of the opinion that the volunteers' services are not reasonably quantifiable or measurable and therefore no cost is represented in the financial statements.

29

WYCLIFFE UK LTD

Notes to Accounts for year ended 30 September 2022

m) Judgements and key sources of estimation uncertainty

In preparing the Financial Statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure on contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

In the opinion of the trustees, there are no judgements or key sources of estimation uncertainty in the preparation of the accounts.

2. Income

Donations and gifts
Member ministry support
Project and other funds
Retirement and supplementary
Other gifts and donations
Member ministry support
Project and other funds
Retirement and supplementary
Other gifts and donations		 Unrestricted
funds
£
-
-
-
1,523,025
1,523,025
Unrestricted
funds
£
-
-
-
1,033,907
1,033,907		 Restricted
funds
£
5,090,057
1,447,578
25,604
19,554
6,582,793
Restricted
funds
£
5,125,994
1,400,993
23,240
22,085
6,572,312		 2022
Total
£
5,090,057
1,447,578
25,604
1,542,579
8,105,818
2021
Total
£
5,125,994
1,400,993
23,240
1,055,992
7,606,219

Gifts received for the ministry of specific members of the charity are forwarded to the specified member after the deduction of a ten percent assessment. Assessment is also taken upon receipt on gifts for projects and other funds. Retirement and supplementary funds enable the charity to make allocations to any of its members who do not receive sufficient funds for basic subsistence from other sources.

Part of the assessment deducted by the charity is used to support partner organisations and is passed on together with the amounts forwarded to members as shown in note 7 to these accounts.

Total Income
Individuals
Churches
Trusts and others
Legacies
Investments		 2022
Total
£
4,670,930
1,542,269
1,946,213
1,185,575
32,475
9,377,462		 2021
Total
£
4,667,198
1,584,659
1,371,635
690,032
36,753
8,350,277

30

WYCLIFFE UK LTD

Notes to Accounts for year ended 30 September 2022

3. Expenditure

Expenditure on raising funds (note 4)
Charitable activities (note 5)
4. Expenditure on raising funds
Raising donations and legacies
Investment management costs
5. Expenditure on charitable activities
Supporting members
Member ministry support
Member Care
Training
Retirement and other support
Supporting projects
Project funding and associated costs
Contributions to partner organisations
Supporting churches and supporters
Supporter engagement
Church engagement
Support costs
Governance
6. Support costs
IT
Finance
Office accommodation
Administration
Depreciation		 Staff
costs
£
278,799
1,161,401
1,440,200
Unrestricted
funds
£
380,015
7,964
387,979
Unrestricted
funds
£
-
186,121
2,500
-
188,621
626,469
14,975
292,238
251,537
1,373,840
222,578
38,230
1,634,648
Unrestricted
funds
£
30,850
58,854
13,954
118,920
-
222,578		 Direct
costs
£
109,180
7,089,046
7,198,226
Restricted
funds
£
-
-
-
Restricted
funds
£
4,732,183
-
3,110
1,653
4,736,946
1,079,610
168,454
629
4,115
5,989,754
626,045
-
6,615,799
Restricted
funds
£
92,128
183,993
36,063
313,861
-
626,045		 2022
Total
£
387,979
8,250,447
8,638,426
2022
Total
£
380,015
7,964
387,979
2022
Total
£
4,732,183
186,121
5,610
1,653
4,925,567
1,706,079
183,429
292,867
255,652
7,363,594
848,623
38,230
8,250,447
2022
Total
£
122,978
242,847
50,017
432,781
-
848,623		 2021
Total
£
306,487
7,555,515
7,862,002
2021
Total
£
300,175
6,312
306,487
2021
Total
£
4,747,256
144,302
26,979
-
4,918,537
984,426
207,717
260,515
205,480
6,576,675
950,814
28,026
7,555,515
2021
Total
£
126,388
239,527
96,387
488,512
-
950,814

31

WYCLIFFE UK LTD

Notes to Accounts for year ended 30 September 2022

7. Analysis of grants

SIL International
Wycliffe Global Alliance Organisations
Wycliffe Canada
Wycliffe Netherlands
Wycliffe Norway
Wycliffe USA
Other
Other Organisations
New Life Computer Institute
Other
Bible Translation and Literacy, East Africa (BTL)
Cameroon Association for Bible Translation and
Literacy (CABTAL)
Ghana Institute of Linguistics, Literacy and Bible
Translation (GILLBT)
L’Association Nationale pour la Traduction de la
Bible et l’Alphabétisation (ANTBA)
Association Centrafricaine pour la Traduction de la
Bible et l’Alphabétisation (ACATBA)		 Grants to
Institutions
£
832,956
62,692
36,894
9,305
44,576
27,264
35,814
175,425
32,902
336,404
81,884
41,424
38,938
1,756,478		 Associated
costs
£
76,340
8,769
4,571
1,305
4,661
3,524
5,344
4,386
4,935
49,897
9,263
6,214
4,203
183,412		 2022
Total
£
909,296
71,461
41,465
10,609
49,238
30,788
41,158
179,811
37,837
386,300
91,147
47,638
43,141
1,939,889		 2021
Total
£
726,600
33,141
52,923
39,144
68,286
31,137
40,068
12,485
19,829
40,541
68,913
26,515
58,154
1,217,737

The grants to SIL International are for funding project expenses and support costs of both SIL and partner organisations, all funds passing through an international finance system administered by SIL. They are included in expenditure for Training and Supporting projects.

8. Net income/(expenditure)

This is stated after charging/(crediting):
Auditors remuneration
- audit
- other services
Exchange rate (gains)/losses
Operating lease rentals
Staff costs
Wages and salaries
Social security costs
Pension costs		 2022
£
12,936
-
(17,680)
43,677
2022
£
1,146,641
112,192
181,367
1,440,200		 2021
£
11,760
660
14,267
72,294
2021
£
1,019,798
95,967
155,672
1,271,436

9. Staff costs

The average number of employees during the year was 40 (2021: 35).

No employees earned more than £60,000 in the year (2021: Nil).

The remuneration for the year of the key management personnel, including NI and pension contributions, was £345,033 (2021 : £306,177).

At the year end £18,176 (2021: £12,291) was payable to the pension scheme.

32

WYCLIFFE UK LTD

Notes to Accounts for year ended 30 September 2022

Redundancy and termination payments are accounted for in the period in which notice was given. During the year, such payments amounted to £0 (2021: £2,153, charged to unrestricted funds).

10. Trustees remuneration and related party transactions

No member of the board of trustees received any remuneration during the year (2021: same). Four (2021: six) trustees were reimbursed £1,238 (2021: £400) for travelling expenses on behalf of the charity, whilst £2,012 of travel and accommodation expenses were incurred directly (2021: £810).

Donations were received, both unrestricted and restricted, without any conditions attached, amounting to £133,950 (2021: £107,558) from four (2021: six) trustees and nine (2021: twelve) other related parties during the year. There were no other related party transactions.

11. Tangible fixed assets

Cost
At 1 October 2021
Additions
Eliminated on disposals
At 30 September 2022
Depreciation
At 1 October 2021
Charge for the year
Eliminated on disposals
At 30 September 2022
Net book value, 1 October 2021
Net book value, 30 September 2022
12. Fixed asset investments
At Market value
At 1 October 2021
Additions at cost
Disposals at open market value
Gains (losses) in market value on revaluation
Realised gains (losses) on disposal
Movement in investment cash
At 30 September 2022
At cost
At 1 October 2021
Additions
Disposals at cost
Movement in investment cash
At 30 September 2022		 Furniture and
equipment
£
23,719
-
-
23,719
23,719
-
-
23,719
-
-
2022
£
1,836,997
478,924
(466,170)
(250,072)
(27,340)
-
1,572,339
1,346,700
478,924
(368,579)
-
1,457,045		 Total
£
23,719
-
-
23,719
23,719
-
-
23,719
-
-
2021
£
1,704,180
309,785
(433,975)
252,306
4,701
-
1,836,997
1,393,725
309,879
(356,891)
-
1,346,713

The portfolio is structured in investments including listed securities, in the furtherance of the charity's objectives.

33

WYCLIFFE UK LTD

Notes to Accounts for year ended 30 September 2022

13. Debtors

Prepayments and accrued income
Tax recoverable under Gift Aid
Other debtors
14. Creditors: amounts falling due within one year
Amounts due to members
Trade creditors
Taxation and social security costs
Other creditors
Accruals
15. Financial commitments
Property leases:
Not later than one year
Later than one year and not later than five years
16. Unrestricted funds
Incoming
resources
At 1 October
(incl. unrealised
2021
gains)
£
£
General fund
1,631,707
2,456,255
Designated funds
Programme sustainability
557,297
-
Accelerating impact
748,845
-
Growth of ministry
943,210
-
Training needs of members
256,509
-
Future building requirements
2,000,000
-
4,505,861
-
Total unrestricted funds
6,137,568
2,456,255
The charity had total commitments under non-cancellable operating
leases as follows:		 2022
£
228,097
11,558
83,602
323,257
2022
£
90,620
71,767
51,895
49,953
55,852
320,087
2022
£
8,263
-
8,263
Resources
expended
£
(1,989,623)
-
(33,004)
-
-
-
(33,004)
(2,022,627)		 2021
£
229,848
35,926
181,884
447,658
2021
£
78,826
33,086
33,661
31,400
59,152
236,125
2021
£
20,053
2,445
22,498
At 30 September
Transfers
2022
£
£
(711,693)
1,386,647
929,649
1,486,946
2,038,554
2,754,394
-
943,210
(256,509)
-
(2,000,000)
-
711,693
5,184,549
-
6,571,196

The general fund represents the available unrestricted funds of the charity which are not designated for a particular purpose. All returns on investments including income net of management expenses and gains and losses are included in the general fund. The reserves policy is to maintain six months of operating expenditure in this fund.

The programme sustainability fund is to cover the next 12 months of expected grants to international partners (net of restricted funds held for this purpose) in order to manage cash flow during year and mitigate the risks of fundraising shortfalls or exchange rate fluctuations. The increase in this fund reflects the charity's increased programme expenditure.

34

WYCLIFFE UK LTD

Notes to Accounts for year ended 30 September 2022

The accelerating impact fund is to allow us to make strategic investments in the capacity of our partners. The fund has been enhanced by the year’s surplus and by releasing £2m from the future building requirements fund. We plan to spend these funds over the next five years.

The growth of ministry fund is to allow us to make strategic investments in the charity in order to achieve our vision. During FY23 this will help cover a planned deficit as we invest in reaching new supporters and better supporting our international partners.

Two funds from previous years have been closed:

The training needs of members fund was set aside for the development of strategic member training. This has been merged into the accelerating impact fund.

The future building fund was set aside from the proceeds of the sale of the Wycliffe Centre for the purchase of an office. Following the switch to remote working patterns, this fund has been closed and released for strategic investments through the accelerating impact fund.

17. Restricted funds

Retirement and supplementary
Members ministry support
International project funds
Other Restricted funds		 At 1 October
2021
£
190,551
-
411,794
29,304
631,649		 Incoming
resources
£
24,510
5,162,232
1,491,278
20,648
6,698,668		 Resources
expended
£
(77,898)
(5,162,232)
(1,409,856)
(20,686)
(6,670,672)		 At 30 September
Transfers
2022
£
£
-
137,163
-
-
-
493,216
-
29,266
-
659,645

The retirement and supplementary fund represents monies given to provide for the support of members whose income funds are temporarily insufficient.

The members ministry support and international project funds are to provide support for members and specific projects administered by partners working overseas.

18. Analysis of net assets between funds

At 30 September 2022
General fund
Designated funds
Restricted funds		 Tangible
fixed assets
£
-
-
-
-		 Investments
£
-
1,572,339
-
1,572,339		 Net current
assets
£
1,386,647
3,612,210
659,645
5,658,502		 Total
£
1,386,647
5,184,549
659,645
7,230,841

19. Share capital

The company does not have a share capital and is limited by guarantee. At 30 September 2022 there were 413 (2021: 420) members. There are 255 (2021: 274) members with voting rights and these members undertake to contribute such amount, up to a maximum of £1 each, as may be required in the event of the winding-up of the company.

20. Subsidiary companies

The company had the following wholly owned dormant subsidiary companies, incorporated in England & Wales, during the year:

Summer Institute of Linguistics Ltd Wycliffe Associates Ltd Wycliffe Bible Translators Ltd

35