The Society for Advancing the Christian Faith Report and Financial Statements for the year ended 31 March 2024
The Society for Advancing the Christian Faith Report and Financial Statements for the year ended 31 March 2024 88[? ShEel 10-12
Governors, Officers, Advisers and Auditors Ea1 crfcoth and (kTPry ILd# aTrJ Cthvrnanl Thtr Revererthj Chats C8rd-Rrynt4Js Thè Rav8rorn1 thJncafi fknnor lappithj m 9th Novernbgr2UfJl Mf. Juhan TregonirrfJ Sian Cff Tr•a•ur•r Mr Hamilon FCA c0nts¢tAddY• 6 St man¥ Pl WC2N 4JJ Nufflbor PrInci1 Bk Reharth B9r Faith Hou Loryjon EC3R 8EB SW1P 3JT Audllorn SS11 8YU
Governors, Report The Govemors present their rewxt a1 finaTwI statemwts for the year ended 31 March 2024 Prfn¢ipal acllvlty The prinupal acvity ofthe Sociaty is defined on page 5. The Govemm lve comtyled vAth the duJes set out in the Charths Act 2011 and ¢IrM that th¢y have referred to the guidance ¢ontsined tn the Chaiity Commission's general to charitEs on pU1C Vtn mithwing the Societys aims and otjieclives. and when FdannlThJ IlrtU xtivities •KI ¥¢tbry th? grant-mthng policy for the year. Incomlng resJ1ceS for the year were £71.249 12023- £64.064). Charitable donations made in the year wefe £33.604 (2023 - £62,173). The So¢w continues to adequate arKI available resourres lo continua its clwitable xb¥ibes. Rosw¥w Pollcy The source of the Stiue5 irthmè is defived from investrnent income. The Govemots believe that it is d•sirable, so far as possible, to rnaintain the stabilty of chavitae dlstrlbutions. In order to provkl8 this stability it is th&ir poly to retaii. in reserye. at 8 levd to enable d1stn.tojnS to continue the fmeeatAe future. The totd am(Att a¥•ilab for dwtiable distri1 al the oflhe >r was £54.803 {2023. £22,620). Govemors a ele(led lo the s ty a Wdiiety of melhods thè in the UK in accordance the detail ouwined in the Sou"eVs Charter. A copy of the Sooety's Charter ean be obtained from the The Govemors ofthe at the end Of Jar at the d of spaning these finanoal statements
Governors, Report- continued Govemord the o¥er811 reSp)trIty for that ts ScKiety h&8 an system of ¢x)ntrd8. finanaal and othvriÈe. Tr systsns offtsnoal (xjnlrvl are de¥Jn?d to prgvth re850nablg, but not absolut•. means to mrtig th. Legal and knlnltralfv• D•tsH• Th& So¢ty rwJistwtd 88 a cArity, nwrthr 257889. go1Th ol the Soc• kg the Board of I3)vem0 and ils governiTrJ dooMn¢nts ts Roya5 Charter 1794 and $LO8eqint amendments. Ther• a no restricons ethr Up th way tr So¢rfi can opernte or Iho in¥e8tm8nt ofthe Govemor8. reqvirenwts otthe Royal Charter. Oryanl• Audliorn In accordan ith SeL*on 144 ofts Chaiitw Ad 2011. a reK4ution prc?r0 that Sygma Chartargd Th8 Ead ol CO and Cknry Mr. Julian Tregmn9
The Society The s¢ found in 1891 WKI TrciwJ ts R¢4al Charter In 1PJ4. Thi5 Wa8 Subsequonty amèntsj by Royal Charter in 1 aTrJ a SLypr181 Chartw t. Tr Scthtysfun nam is Tr ScKty fot Ad¥8ncang th8 chtIan Fath kn lh8 Wost4TrA18laTrJs aThl wilhin th8 tOC••o of JomaKg ar>J of Bath and the L•vard aTra •) Mauribus-. Erv4larxJ res¥kfit in the lSh WesVlrKJiH Islands Mauvitrjs lor lh8 Purp al #dvan¢aw th• Cbtsban Fath tn 811 part5 01 Ihe Provknce ofthe West lTrJs. Ihe DkK888 ¢n Ih6 IS tsf Mada9ascar aThJ th• Statement of Governors, Responsibilities loreach financial year Ihat gNe a In aThJ fr viawollhè sLal• of alwairn So• and of thB surplL atoJrdry, th8 finarKial ofthe SWI aThJ enab18 them to ayortaiTr ils finanual posity.on aThJ to ensu Ihat ihe finanaal Slaknm currfi Ihe ChantssPd2011. char&5 lknunts aThJ Rtwtsi ReguLqtJns 2(Kl8 aTrJ the Royal Charkr. Tlw atso art TB5POn5&>1e for saf•Ju¥ding aThJ otl*r ¥reguL4ritW5.
Report of the Independent Auditors to the Governors of The Society for Advancing the Christian Faith Opknlon in thè UIL indu(Ir¥ the FRC'$ Strj¥d. f•hJfwwc4her eltka knlth I 21YJ8 rwuir8 trj ver#NL Contlnu•d •n pg•7...................
Report of the Independent Auditors to the Governors of The Society for Advancing the Christian Faith (continued S5118YU
Statement of Financial Activities For th• y•ar •nd•d 31 IAarth 2024 2024 2023 Unrnstrfctod Unreslr5¢ted funds Incomlng Rosourc•s Inv•stment income 71.249 64,064 Totsl Incoming RoX 71.249 Expendrture on charitable acllvthes Goveman* arwj administration 62.173 6,548 5,462 39.066 68,721 Net Incomlng l {(Xtylng Rowrc8¥) for yoAr 31183 {4,65n (knr Rownl¥od Gthn¥ I ILoty8es 167,706 (76.1471 Not mov•m8nt In funds 199,889 (80,804) Roconcllladon of funds Total fund8 brought fopABrd 2.021.034 2,101,838 Totsl funds carried forw• 1220,923 2,021,034
Balance Sheet A• at 31 Mareh 2024 2024 21)23 Investrnents Common Investmert FuThJs 1166.120 1.998.414 Totsl Flx•d ABsets 2.1W120 1,998,414 Current asset investment Cash at bank and in hand 20.OIXI 72.049 20.OIKI 35,72 Total Curr•nt Ass•ts 92.049 SS.702 Uabllltle•: amounts falling Ikn within ona yg8r 1372461 133.082) N•t Curr•nt Ao80ts 4803 22,620 2.220.923 2,021.034 The Funds oftho Slety (all LMg-Tem Caylal FuThJ Working Capftal Fund 2,166,120 54.803 1.998,414 22,620 Tot•1 Socl•ty Funds 2.220.923 2.021,034 on th•ir behaf. The Earf olCO and OThwy Jullan Trewlrwa
Notes to the Financial Statements 1 A¢¢ounting poli¢168 {a) Tr financial statements he kyepared ur#Jerthe hislon'cal cost ¢onvenlion as modir by rfrvalun of invest to market value and in acCOthn with applicab accounttng standards, th& Charities Act 2011 ar Stat•Ynt of Remrmènded Practice (FRS102) "Accounting and Reporting by Charriies" (bl lnc1yniJ Resources All irKome is recogni89J in the statem of financial athlE when the cnnditions of receipt have been mat 8nd th8r8 is roason assurance of elp1. Where a daim for repayment (¢) Investmots Managed fiJrKls arn valusd at Mmk va. R8alised goins or k)sses repment the difference net sales prougds and pur¢hgse price or, rf prevThJsty valued. the valuat)n at last balae sheet date. UnrealL8&J gains or losses represent difference bet41een the mthet value and historic cost at the date of the balm sheet baknce sheet date arml their wrcha5e rKKes w. rftlvy have been ¥8¥ty valued, thelr valLthn at thg last baknce she8t dat•. {dl Fund Accountirvj The Ltyy-Tem C4rtal Fund rwesents the values ofthe invesknRnts at Balance Shogt dale. Any chafye in the vaue d the InVestrn duriTrJ ts year is reflthj in this fvnd The WorkiThJ Capital Fund is the anN)unt available for distn"bution in fijture years. It is intended that this Fund be rnaintained at a levd d appr0matelY t%w) yearB' charitable expfjnditure. le) Charitsble exepnditu Charitable atlriiites grants pay*. Grants pWle are xccwnted wIn Ifj GovgmarKe ujsts are mèt by the &Kiety. 10
Notes to the Financial Statements - continued 2023 .167 10M7 3,897 71 4 GrarA In *hth8 ctyds L4lhÈ SN. as destrbBd on page 5. ts S(¥Jety makes gmnts to tr inslrurJj lo pwL4iths. 2023 10,IXIO 15,452 6,0 10,LX)O 13235 klahajarqa, Madaga8 EaslCartla8n Ar 61,152 TM Ct9 ofllis (ar wd5£525 I2J47.2ll 2023 1328 l1J6 2,138
Notes to the Financial Statements - continued Market Vdueat 1 th"12023 1x414 1074.ffil 107.701 (T6,74n l1e6.12D 1.998,414 Hi8bxkoJ8tat31 2024 1.591,240 37.216 33.062 8 Tr• olth• Srt C•pMol Fw Fyr¥l¥ I,M414 1021.034 31183 167.706 &rF4us 21143 167.7 1M,120 I2Xb,9 g Taxalon 12