Company Registration 00949989 Charity number (England and Wales) 258421 Charity number {Seotland) SC042332 AGAPE MINISTRIES LIMITED Report and Financial Statements Year ended 31 December 2023
AGAPE MINISTRIES LIMITED COPUENTS Company Information Report of the TnFstees 13 Independent Auditor's Report 16 ststement of Financial Activities 20 Balance Sheet 21 Cash Flow Slatement 22 Notes to the Financial Statements 23 Statement of Financial Activities 41
AGAPE MINISTRIES LIMITED COMPANY INFORMATION COMPANY NUMBER 00949989 CHARITY NUMBER 258421 (England and Wales) SC042332 Iscotlandl CHAIR Mr Gary Palmer (resigned 271041231 Mr Steve Botham {appointed 27104123) OTHER TRUSTEES Rev Richard Boothroyd Mr Dermot Purcell Mr Kevin Russell Mr Javier Garcia lex officiol NATIONAL DIREcfoR Mrs leeY Cheesman COMPANY SECREfARY Miss Nicole Bamard (resigned 01112123) REGisfERED OFFICE 167 Newhall Street Birmingham B3 1SW BANK Barclays Bank PLC Colmore Row PO Box 34 Birmingham B3 2BY SOLICITORS Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES AUDITOR Prime Chartered Accountsnts Charter House 161 Newhall Street Birmingham B3 1SW
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES The tnjstees (whom we refer to a5 our Council of Management - COMI are pleased to present their report together with the financial statements of Agapé Ministrie5 Ltd 1.the charity" or"Agapé UK") for the twelve months ending 31 December 2023. The Trustees, Report includes the Directors, Report as required under company law. Reference and administrative information are set out on page 2 fom part of this report The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and Statement of Recommended Practice- Accountin9 and Reporting by Charities. Structure and Governance Governing Document The company is established under a Memorandum ol Association which sets out its objects and powers as a charitable company and is governed under its articles of association. The Trustees The trustees, under charity legislation. have and accept ultimate responsibility for directing the affairs of the charity, and ensuring that it is solvenL well-run. and delivering the charitable outcome5 for the benefit of the public for which it ha5 been set up. The trustees, who are also directors under company law. who served during the year and up to the date of this report are listed in page 1 of this report. Members lincluding trustees) of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. Trustees, indemnity insurance (riii of £1 million is provided as part of the comprehensive charity insurance policy purchased by Agape UL It is not possible to separately identify the cost of the Tll element of this policy. Appointment of Trustees Application process and future training requirements for new and existin9 Trustees will continue to be reviewed on a regular basis. Organisation Agapé UK is a ChTlStian organisation and part of Campus Crusade for Christ Intemational. Although our main activities are national, operating in eight re9ions across the Ul we have workers in other countries around the world. Agapé UK is overseen by the Council of Management (COMI which meets 4 to 5 times a year. Day to day organisation is delegated to an Executive Leadership Team IELD of four senior members who meet on a regular basis, and have oversight ol the whole organisation. Each ministry department is led by a Ministry Head who reports into the Field Director. Operations, Communications. and Leadership Development & Human Resources ILDHRI have infrastructural responsibility and are managed by the Central Leadership Team. comprising of the heads of each of these departments who meet regularly with the ELT. Operations is responsible for all finance artivities including financial reporting, conferencing, and facilities management, including IT systems and processes. Cotnmunications is responsible for communicating internally and externally, including the development of messages. publicity, and fundraising initiatives. LDHR is responsible for member care. training, ongoing development of each of our workers, and recruiting. Management and governance of Agapé UK is delegated to the National Directorwho is accountsble to the COM. Reports are submitted as required to Companies House and the Charity Commission. Systems are in place for line management appraisal. member development and supervision. together with grievance and complaints procedures.
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES Risk Management During 2023, the risk management gIster was reviewed quartedy by the COM and they considered the implication5 of the risks identified. The COM also formed their own view on high impact risks. gave input to the process and ensured all appropriate measures were in place to manage these. At the end of the year. the Council of Management was satisfied that the major risks to Agapé UK have been as5es5ed and in particular those related to the govemance, staff, strategy, finances, and operations of Agapé Ul and are satisfied that systems are in place to mitigate exposure to these risks. Reporting procedures are in place to monitor income and expenditure. A key element in the management of financial risk is the setting of a reserves policy and its regular review. The Charity is aware of its responsibilities to manage risk and appreciates updated infonnation on this matter from its solicitors and other professional advisors. Responsibility of trustees Company law requires the dirertors (who are the Trustees and members of the Council of Management) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the income or expenditure of the company for that period. In preparing those financial statements. the Council of Management are required to select suitable accounting policies and then apply them consistently." make judgments and estimates that are reasonable and Prudent comply with applicable accounting standards subject to any material departures disclosed and explained in the financial statements,- prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the company will continue in busine5S. The Council of Management is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Ststements as to disclosure of inforniation to auditors In accordance with Company Law. as the charity's trustees. we certTfy that. So far as we are aware. there is no relevant audit infomiation of which the Charis Auditors are unaware,. and We have taken all the steps that we ou9ht to have taken in order to make ourselves aware of any relevant audit information and to establish that the Charity's Auditors are aware of that information.
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES Objectives and activities Our Purpose Our charity's main purposes are set out in the objects contained in the company's memorandum of association and include.. To transmit, propagate and communicate the Gospel of Jesus Christ to students and others at Universities. Colleges, Schools and other academic institutions as well as to the public at large. To help those who become Christians through receiving Jesus Christ to grow toward spiritual maturity and understanding and to train them to reach others with the Gospel the objective being the fulfilment of the Great Commission of our Lord Jesus Christ as set out in Matthew 28..18-20 of the Holy Bible. To help Christians to become estsblished as active members of local Churche5 and to work closely with Churches of many denominations. To relieve poverty or distress. Our Vision Agapé UK'S vision is to inspire people to discover Jesus at home. at work at university. and abroad. We believe that everyone's life can be transformed by knowng Jesus.. that the decline of Christianity in the UK must be reversed, and that we can play a key role in this. We believe that Jesus calls us to share our faith and that every follower of Christ should be equipped to share hi5 gospel. We also believe in whole life ministry. helping people to discover faith in every area of life. for the rest of their lives. Our Values We want to live radical lives of love, service and influence. following the model of how Jesus lived his life on earth. This is characterised by. Faith- in God's supremacy. filled with faith and the Holy Spirit Unity- unified internally and building God's Kingdom together with the wider body of Christ Growth - committed to Spiritual growth, both individually and corporately. FTuitfulness- striving for effectiveness and relevance Joy- enjoying God and His Kingdom Our teams apply these values dIffentlY depending on whether they work in universities. workplaces. families, communities or cross-culturally, but these core values are fundamental for all of us.
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES Our Mission The strategie5 employed to meet our vision include the following- Presenting the gospel clearly in word and artion. Helping Christian students on campus, or business and community leaders le.g. church leaders) share the gospel clearly in word and artion, giving Others the opportunity to respond. Helping individuals to develop and be active in their faith through small discipleship groups and l-to-I mentoring. Contacting business and community leaders. addressing key issues in corporate life and helping create a climate of greater understanding of the Christian faith and the person of Jesus. Sending teams of students and graduates abroad for short-tem mission projects as well as longer-term assignments of 1-2 years. Developing products and resources that aid our workers and volunteers in achieving these goals. Developing strategic partnerships with like-minded groups and churches. Contributing funds to Global Aid Networt our partner working to provide humanitarian aid to people living in situations of povety and crisis overseas. Public Benefit In compiling this repor¢ the Trustees have given due regard to the public benefit guidance as issued by the Charity Commission. Agapé UK is a team of people, staff. associates and volunteers seeking to obey God's call to go and make disciples of all nations, helping everyone to understsnd the person of Jesus Christ and how they can come into relationship with him and be reconciled with one another. Agapé UK works out its public benefit in a number of ways. The gospel of Jesus Christ is of benefit to society at large. It provides a contert for forgiveness, a platform for dealing with broken relationships. a motivation for service and charity and the focus of a fulfilled and meaningful life. We believe that communities and individuals can experiencetransfomiation as they grow to understsnd and embrace God's ultimate purposes for them and for the world. Many people become disciples of Jesus Christ through the lifestyle example of Christians - sharing God's love in artion and word, clearly explaining God's message as revealed in the Holy Bible. prayerfully expecting the Holy Spirit's power to transform people, our communities and whole nations. Agapé UK seeks to demonstrate this benefit through its range of mission and humanitarian activities both here in the UK and across the globe as detailed throughout this Trustees. reporL Volunteers Agapé UK is blessed by the contribution of the mary volunteers that get involved with each of our ministries. We are thankful for all those who freely give their time to serving alongside us and want to acknowledge the part they play in helping Agapé UK to fulfil its mission.
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES Achievements 8t Performance Agapé aims to develop spiritual movements among four key priority areas.. At home Agapé UK is strengthening relationships and promoting the importance of family life and community. to enhance the emotional and spiritual wellbeing of everyone in society. Through our FamilyLife relationship courses, events, and apps, we're supporting people around the country to build flourishing relationships and strong marriages and discover what it means to have a lasting relationship with Jesus_ 2. At work Agapé UK is equipping people to confidently live and share theirfaith at work We're helping the UK'S workforce to learn more about their professional strengths and weaknesses. achieve a healthy work life balance and gain a sense of satisfaction and purpose at work. Through our network of music professionals, Crescendo, we're sharing our faith through music. Our Sports ministry focuses on developing relationship5 with sports men and women to help them discover Jesus and grow in their spiritual wal 3. At university Agapé UK has been artive on unIVeity campuses for over 50 years- working with students to help them navigate the complexities of student life. We're building student communities where people from all backgrounds can discover more about themselves and explore big questions about life. faith. and God. 4. Abroad Agapé UK is meeting the needs of people around the world, working with a number of international partners. This includes our hvmariitaTian work with Global Aid Network (GAIN UK), and the wider activitie5 of the Agape Europe and Campus Crusade for Christ International ICCCII global networks. We offer short-term projects to far-flung destinations, and opportunities to go overseas long temi.
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES 1. Athome Our FamilyLife team, who work to strengthen families. has been providing training. innovative progfammes and resources to a growing network of volunteers to help individuals and churches effectively minister to families in their communities. Our work provides a practical context of love and forgiveness for the gospel message. Our events allow couples, whether they are doing well or struggling. to engage with topics including God's purposes for marriage. communication, resolving conflict as well as expressing love. In 2023, the Familylife team went through a lot of change. We've had several new staff join us in the pandemic and post- pandemic years, meaning our team is made up of many new people. Also. in autumn 2023. our former Director stepped out of Agapé UK to pursue ministry in a new context As a result we have done a good bit of work this year to re-evaluate the tearn vision. mission and goals. It ha5 led us to recognise that our team is increasingly diverse and is Working with increasingly divetse audiences. So. we are stsrting to be more intentional about how we go about doing that. Our UK work has been focussed on sharpening our tools- stsrting with our A Day Together IADT) resource for churches. which is beiT)g edited and Tepackaged for today. We have run a few ADT events this year, which have given us a chance to get some good feedback. Our ministry among intemational communities is growing- with regular content being broadcast through the medium of TV. YouTube and social media. In 2023 over 10 million people were reached. Our Together marriage discipleship resources have been translated into multiple languages. 2. At work Because the most influential people in the world are among the least likely to hear the good news of Jesus, our At Work team are ambassadors for Christ to a wide range of leaders and professionals in the UK from professional sportspeople to politicians to musicians. 2023 was a fruitful year with much of the pre-COVID activities and events being re-established. Our International Women's Day event and Prom Praise helped to serve the 5PiTitual needs of London's international community. Crescendo continued to support professional musicians and music educators. In the past year, we have been contacted by several musicians who were seeking to connect with other Christian musicians. Meetings for musicians and creatives that we organised were well attended and we were able to continue supporting each other in prayer. As musicians. we were involved in several church events and conferences. The Sports Ministry grew in several ways. specifically with two new staff members joining the team and a volunteer. Also, alongside the on-going mentoring and support being given to a number of sports professionals. we saw increased opportunity to support elite sports women in the UK and intemationally. Digital Strategies worked to grow a team of UK-ba5ed online mentors with The Mentor Ministry in 2023. which serves our audiences online by offering prayer and a listening ear to people around the world. Over the course of the year, we recruited and trained 16 new mentors who have started conversations with 249 people from around the world. Our Toucan Together app had 24,410 people start our"Pulse" quiz leading to 1,9(X) starting a module on the app. Of those, more than half continued to a second module to grow and strengthen their relationship with their partner. Over the course of the year. we also began experimenting with new kinds of digital spiritual journeys. One example is a series of videos from our Toucan Together content that we published on fikTok daily over three months in the autumn. Every fifth video had more specific spiritual content and invited user5 to a digital journey talking about the Christian view of marriage and giving them an opportunity to connect with an online mentor. Over the course of the campaign, we had 76,080 views on the wdeos and 3,386 exposures to gospel content with a chance to take a step closer to Jesus.
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES 3. At university We started the year with clarity on our vision.. -seeing multiptying disciples that love and follow Jesus and inviting every other student to do the same." To see this happen we focus on equipping Christian students in having faith conversations and making disciples and creating a space loi any student on their joumey to discover more about Jesus. Discoverjesus C(Jmpoign In the spring of 2023, Agapé UK Students ran a campaign in 5 cities called Discover Jesus to give more students the opportLtnity to discover more about Jesus. There were five elements to the campaign-. The Challenge. The Quiz, The Podcast, The Conversation and The Exploration. The Challenge ran alongside the campaign and encouraged Christian students to grow in their personal faith. tslking about their faith. and inviting friends to join The Conversation. The Quiz is a conversational game consisting of 25 questions about life and Jesus. The Podcast is a series of five podcasts InteiewIng experts from The Oxford Centre for Christian Apologetics (OCCA} who answer our five big questions. The Conversation is a small group resource also themed around our fwe big questions. Each session includes seeker- friendly Bible study and discussion questions. The Exploration are Youversion Bible reading plans. Each of the five big questions has a 3- or 4-day Bible reading plan which includes short passages from the Bible to read and then a short explanation of the passage5 and reflection question. The measurable impacts of the campaign were= 150 students equipped in having conversations about Jesus using The Quiz 572 first conversations on campus recorded 20 students are exploring more about Jesus on a regular basis 4,207 views of the a dis(over- esu5 webpage with an average of 2 mins 4 secs spent on the page 416 plays of The Podcast 10.000+ completions of The Exploration Youversion Bible reading plans Freshe In September and October. we connected with freshers both online and on campus. Through our online presence we were able to connect with students before fre5hers week and invite them for a personal coffee or one of the various group events we held. In Cambridge and Newcastle. we did a test run with a new resource called Getting Started. The aim wa5 to help Christian students understand what Agapé UK Students is about and to challenge them in taking initiative in engaging in faith conversations and making disciples. Overall, it was a good leamin9 process and in Newcastle one of the results is that students started an official Agapé UK Students society at Northumbria University to have a clear presence on campus. Spring and Summer Projects This year we were able to have two student projects, to Malta in the spring and to Sierra Leone in summer. In 2023 our teams across the UK equipped 200 students to engage in faith conversations and make disciples. There were at least 1,000 conversations about Jesus at universities and we saw six students begin to follow Jesus. We have become an official society on two university campuses which is a blessing because we haven't been a registered society for a long time. It helps us have greater access to students and it opens more opportunities for students to lead.
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES 4. Abroad Global Aid NeOrk UK (GAIN UK) has carried on with a hands-on approach to responding to povety and crisis. Followin9 a successful campaign, GAIN UK raised funds to procure their first Involvement Centre Birmingham City Centre. Since February 2023 we have grown in new ways with the increased capacity the Involvement Centre has given us. We have received many more donations of aid and been able to and pack them in a warm, dry building. These donations have enabled us to send shipments overseas and build lots of new partnerships with like-minded charities who are doing amazing work with people in need in the In 2023 we sent over so boxes to partners in the UK and overseas, helping over 50,000 people experiencing poverty and crisis. GAIN UK has continued to respond to disasters across the world. In 2023 we developed ongoing partnerships to support those impacted from the earthquakes in Turkey. Syria and Mor(KCO. as well as the Ukrainian. Israeli-Hamas and Armenian conflicts. As a worldwide neOrk we have also worked with the GAIN Switzerland office to send physical aid to Afghanistan to support those impacted from the recent earthquakes. We have also initiated a worldwide procurement effort to supply tonnes of food aid from a UK partner into Ukraine. 2023 saw the launch of our first project team to Beniry supporting our worldwide well drilling and church planting Strategy. Alongside Agapé UK Students, we sent a team to SUPPOrt our long-term partnership in Romania. Long-term m(ssion Currently. there are British staff serving long-term in Itaty. Portugal. Russia and the USA along with a further one-year intern on a team in the USA. Here in the UK. we have staff serving alongside us from Albania. Finland, India. Iran, Ireland, the Netherlands. the Philippines. South Africa and the USA. As a national ministry we are continuing to take the lead in helping Europe run cross-cvltural training for missionaries who are leaving their home countries to serve overseas. TranslT. as the training is known. fan for two and a half weeks in late July and wa5 a great challenge and experience for the diverse staff who were trained. British stsff were involved in directing the training for about 25 staff from across Europe and further afield starting intemational assignments in 202312024. Our support of the Great Commission Movement of Sierra Leone IGCMSLI has also continued apace this year as we seek to grow our connection and collaboration. As a ministry we have helped provide the fund5 for new staff to feceive needed new computer5 and be provided for to attend New Staff Training. In addition, we helped provide for the .10 Days 4 Jesus. outreach campaign which involved taking the gospel to rural Islamic villages in the north of the country and also (apitsl projects in the development af their ministry hub with fresh floor tiling across the building that was needed. As mentioned in the trustees report a year ago the TranslT team. led by Agapé UK staff. have developed a cross-culturaS leadership training over recent years with the first cohort takin9 place in 2023. The group, that included many leaders from across Agapé UK, was a great success and its impact has been seen in the ministry and leadership of those who took part. The team will run the next cohort throughout March 2024. Short-term mission In 2023 we ran three short-tefm mission trips, a humanitarian projert in partnership with Global Aid Network to Romania serving Roma people, a summer trip to Sierra Leone to help launch the ministry at a new university in Port Loko, and a trip to Malta in the Easter holidays. All these trips had an impact in the lives of the students and staff who took part and built further relationships and collaboration with the ministries in the different countries. Our partnership and collaboration with the Great Commission Movement of Sierra Leone in particular continues to develop in new and exciting ways. Ovr Agapé UK Global team also continues to support the work of missional sending acros5 Europe. working with leaders in different countries to help develop vision and processes for sending to the nations within and beyond Europe. Thi5 has been an exciting contribution to mission in Europe and has helped students from numerous different countries in Europe go on mission trips for the first time in 2023.
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES Workin9 With Churches (Five Year Focus 2020- 2025) 2023 was a year of change for the Five-year focus with new leadership of Church Engagement ICE) for Agapé UK. Using the first six months to connert with as many ministry partners as p055ible. they also made use of this time to visit their partners, churches to research and connect with leaders for netwothing and relationship building. They started to build the team and make a strategic plan late 2023. The team is still growing, and the plan is still developing.Agapé UK attended three key events through the year for Church Engagement. Firstly. we had a team present at the New Wine Leadership Conference which enabled u5 to connect with church leaders. Secondly. we had a large stsff presence at the Big Church Festival to connect with people, share the gospel and introduce people to Agapé UK. And finally exhibiting at the Christian Resources Exhibition ICRO in Birmingham in October enabled us to build new connections ar5d offer our resource5. These events produced great opportunitie5 to inspire. encourage and even enable attendees towards missions in the local church context. Alongside attending events and connecting with local churches we continued to refine and develop resources to meet their needs in helping people to discover Jesus. Cenlral Team: Operations. Communications and Human Resources Alongside our field-based colleagues the Central Team's role is to support Agapé UK'S national focus by providirig staff, volunteers, and members of the public with the tools. skills and information they need to discover Jesus together. The Central Team include5 Staff working in Finance. HFL Leadership Development Communications. IT. Data Privacy, Events, Fundraising and Office Management We are deli9hted that The Hub (National Office) has continued to serve the needs of the national ministry as well as other organisations. We have continued to have Wednesday Hub lunches and have enjoyed eating alongside those in Chaplaincy Plu5 and the Billy Graham Evangelistic Association who we host in our building. We have undergone several staff chan9es over the year. We have welcomed two people to the Communications team. who have brought experience and knowledge in this area. The web51te for our Te50urces - Agapé Resource Centre IARQ - is now well established and we are looking for more ways in which we can connect with churches and the wider public with what we have to offer in making and multiplying disciples. In August the Conference and Events team were able to run our normal all stsff conference, providing the whole staff family with an excellent programme of biblical teaching and vision for the coming year. 10
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES Plans for 2024 l. At home In 2024, FamilyLife would like to continue to see this WO expand. Our vision is to create a clear journey for how we connect with those who don't know Jesus. to help them discover Him. thu5 transforming their relationships. We are still in the process of finding a director for thi5 team. We would like to see a new leader move this ministry forward into expanding impact. In our UK work, we a going to be continuing to sharpen our tools- A Day Together, Together, and digital resources. Our capacity is limited though, and we would love to see our team recnjit MO people and grow this year. In our Farsi worl we are hoping to see several volunteers join us as stsff, and a widening focus of the ministry into areas of parenting, singleness, etc In our South Asian work, we are looking to translate our Together facilitators. materials into Hindi. as well as begin the work of translating these materials into Malayalam too. We are also looking to see how we apply our work into tsvo new cultural contexts. through the diversity of our team. 2. At work For the coming year, Crescendo is plannin9 to fomi a string quartet The quartet will be available to support events, give concerts and share their faith through music and short testimonies. There is also the possibility of us organising a music teachers. conference in the coming year. The summer ahead looks bright with opportunities to minister to athletes. A couple of big events will be the Champions League Final in London on June l and the Summer Olympic Games in Paris from late July into Avgltst. Several Olympians that will compete will look to have chapel seNices provided for them. We, alongside Athletes in Action global, will serve these athletes Wlth spiritual direction in their tense competitive rnoments. Digital Strategies is focusing on creating content in 2024 to be used in a variety of digital spiritual journeys including a four-point explanation of the gospel filmed in Ireland and a series of 42 oral Bible stories filmed in a representative mix of UK accents. We'fe testing out those videos in a series for Easter that is advertised in Scotland as well as a variety of other journeys this year. We're also trying out a few new ways to draw spiritual seekers into conversation with our digital mentors who are ready to listen with open ears and point the way toward Jesus. We are creating a series of webinars as bonu5 content for our Toucan Together app users and social media followers to engage further. We are also working on growing a partnership with the Family Life ministry in the US. 3. At university Notional Changes We will go through a process in 2024 to look at our strategy and structure to better go after our national vision and support staff in various cities. Fireseeds 2024 We have moved our national student conference to November and the focus will be on equipping students to make disciples and lead communities. The intention is to have Fireseeds in a city, so we can include practical training in having faith conversations in this conference and put the training directly into practice.
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES Student Leadership One big shift we are looking to make is a clear focus on student ownership and leadership in both making disciples and in leading student communities. This way we can develop leadership in students more and prepare them for life after university. Student Apprenticeships A new ir)itiative that we have started is offering existing student leaders the chance to apprentice while they are student5. They would seek to raise the funds to be paid by Agapé UK and would commit to reaching their campuses for a fixed number of hours perweek. Global Projects In partnership with GAIN we hope to send students on aid projects either in Romania in March or to Sierra Leone on student project in the summer in partnership with CCC in Sierra Leone (known as The Great Commision Movement). Wild Hope We are collaborating with Hope Together, Youth with a Mission and Fusion to participate in Wild Hope. A l O-day mission experience for young people (ages 18-251 early July 2024. More information can be found at www.wildho euk.com. 4. Abroad Building on 2023,5 growth, Global Aid Network UK IGAIN UK) has re9iStered as a charity. Having developed under the leadership of Agapé UK we have grown from strength-to-strength. and this reflects that growth. While GAIN UK is now an independent charity. it remains wthin the wider Agapé family. working closely in partnership to serve people in the UK and overseas. Looking ahead to 2024 we have an exciting and expanding vision for the Global Missions team and the impact they can have domestically and internationally. Internationally the team continue to work alongside partners in Sierra Leone and Malta as well as Global Aid NeOrk to send students to the world orb mission with trips planned to each of those locations. In our work with Sierra Leone. we are also looking to have a pioneeiing mission opportunity for tradespeople to use their professional skills to help with needed maintenance work on the Great Commission Movement IGCMSLI ministry hub building in FetoWn. Plumbing and construction work will help GCMSL move towards financial sustainability with the income they can generate from their building. In addition to this, and alongside the Living & Telling team, they are working to create a contextualised version of Living & Telling for Sierra Leone and West Africa. This is driven by the national leaders in Sierra Leone and the team are seeking to support them in producing a West African English resource that will be able to be dubbed and used in the different tribal languages across the country and region. With all these things in mind the Global team are working to raise £40.000 to fund these ministry efforts and to support the capital costs needed in Sierra Leone whilst also coming alongside the national staff to encourage and grow their skills in their personal support raising. More widely in Europe the Global team ale supporting sending efforts and the development of ministry in many countries. Most notably they are supporting Belgium and Ireland in their aims to grow the number of staff servin9 there as well as help relaunch a national ministry in Iceland. UK staff will be part of an Icelandic vision trip bringing together others from Ukfaine. Spain, LalNia and the United States and seeking to raise up an intem team for Reykjavik in autumn 2024. The team will also continue to invest in the European cross-cultural training this year. giving leadership and helping develop a group of 16 staff moving from theif home culture into international ministry. The training cohort for this will take place in July 2024. Domestically the team have identified needs amongst UK churches for help in knowing how to reach the intercultural scope around them. In 2024 they are working alongside other missional partners to think about how to help meet this need and are working on an online training hub to equip Christians and churches across the UK to reach the people 12
AGAPE MINisfRIES LIMITED REPORT OF THE TRUSTEES around them in culturally appropriate ways. The team are leaning into their many years experience of cr05s-cultural training to bless the UK church in partnership. This is an exciting project for which they have the working title 'EveryCommunity.' Along with this the team are woiking on resource creation. specifically in culturally appropriate resources for the UK context. Work is taking place on UK versions of the cultural gospel presentations 'Honour Restored, and 'Power over Fear, as well as the 'Finding Home Again, course for people seeking in the UK to settle as refugee5 or immigrants. This is. in essence. a cultural adaptation resource with optional spiritual themes first produced by Family Life in the United States. The optional rather than interwoven spiritual themes element allows for publicising for use with secular government and council agencies as well as in spiritual spaces. The hope is that cultural resource generation will be of benefit for the whole of the UK church. Having broadened the scope of the Global team in the last fewyears the team are also working with the different ministry areas acros5 Agapé UK to dream about how to mobilise people to the world beyond just Student5. This year they will be working collaboratively with other Agapé UK ministries to think about the ways culture training can be used to create missional inroads into hard-to-reach spaces. There is also hope to see two or three people sent to work internationally acr05S the world this year a5 interns or long- term staff. Working with Churches Building a bigger dedicated team that operates Tegionally across the UK is the priority. We hope to recruit Church Engagement ICE) staff/associates/volunteers for the rnajor city hubs around the country. We want to work alongside Agapé UK staff to support them in working with their connected churches and thus extend the reach we have. We would also love to engage with the ministry partners supporting our stsff in serving their churches in their missional journey. We plan to try out models for engagement with local churches in order to leam what is most helpful and effective. Specifically, in late winterlspring we will be trialling workshops for'having better conversations about Jesus, and we will be njnning evangelism courses in person and online. We also plan to continue attending major national events for churches and church leaders to network and offer our support in evangelism and discipleship. Central Team- Operations. communicatio and HR As we move forward in 2024. the Central Team's role continues to be critical to the development of the national Five- Year Focus. We will continue to engage and increase our audiences through a range of resources, social media and through media opportunities such as radio and TV inteiewS and podcasts. We will continue to add to our Agapé Resource Centre IARCI website to increase and improve acce5S to our resources. As was the case in 2023, we will continue to be involved in events such as New Wine Leadership Conference, showcasing what we can offer to churches. Staff from Central Seryices will join others from the Field Ministry in these events. Although the Central Team is often considered to be quite separate from the 'field' ministry our desire is for our team to also be involved in mission. To this end we will be involved in ministy alongside other staff in Bim)ingham. workirig as a City Team, to connect wsth local churches and other missions across the city- We will embrace opportunities to use The Hub to inspire people around us to discover Jesus. Desplte having several new people join us this year, (rUItment remains a priority for the Central Team as we still have several keys roles as yet Ltnfilled_ One encouraging addition has been Oli GgOrioU joining the Leadership Development ILDI Team, currently in a part-time role but with the hopes of transitioning full time to LD. Key roles that we still need to fill are Central Services Difector. IT Assistant Communications Director. Fund Development Director. arid two part-time Fund Development roles (Trust Fund Administrator). We will also be saying goodbye to our New Staff Training Director at the end of April, as she will be transitioning to a new role with the US ministry. 13
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES Financial Review Agapé UK'S financial management aims are to= Employ staff who raise funds for Agapé for the purposes of paying salaries, 5tsff expenses for personal ministry and contribute to general funds. Raise general funds to support the cost of Agapé UK'S operational expenses, including a high-class training and personal welfare programme. Raise funds through specific appeaSs to support Agapé UK'S outreach activities. Raise funds to support evangelistic activities overseas which are managed by overseas Agapé organisations. Agapé UK'S financial model relies on a 12.5% deduction on all funds raised in the UK by staff and specific appeals. 9.5% is used to fund the operating costs of the ministry and 3% is tithed to be used for activities of overseas Agapé organisations. The amounts raised are affected by the number of staff raising personal support in the UK. The overall financial performance in 2023 is as follows- Funds raised by staff were £2.43m as compared to £2.56m in 2022. a decrease of £130,0(K). All staff salaries including key management personnel are set according to pre-defined criteria. The salary breakdowns are laid out in detail in note 8. No staff received emoluments in excess of £60k during the year. Staff fund balances have decreased in 2023 by £21 k to £659k (note 19 to the accounts). This is due to a number of staff transitioning out of the UK to other national entities within Campus Cru5adefor Christ International, as well as an increase in salary costs compared to 2022. The building land associated costs) are depreciated at a rate of 2% per annum. and the costs of improvements to "The Hub" have been capitalised and wll be depreciated together with the existing asset over its remaining useful economic Designated funds at the end of the year are £1.04m 12022.. £1.13ml, which comprise funds for staff, ministry activities and the value of certain fixed assets. These funds support the various ministry attivities that have taken place in the year (see note 18 for detsilsl. Restricted funds at the end of the year are £324k 12022., £332k), which comprise funds relating to a portion of the purchase price of the Agapé UK office, funds held specifically for the ministry of other Campus Crusade for Christ entities outside the UK, and fund5 raised through appeals specifically for disaster response and relief work. Total funds at the end of the year are £1.51 m12022- £1.63ml. Grants to overseas Campus Crusade activities totslled £562k {2022= £529kl. This is funded directly by donations given for these purposes and the 3% fithe. Bank balances at December 2023 were £790k as compared to £837k at December2022. This is a reflection of the ministry teams and staff spending funds that have been raised in previous years. During 2023, the funds irivested in treasury deposits with Lloyds banl together with the interest received, were re-invested for a further 12 months each maturing in 3 month intervals. This was out of a desire to generate better returns for the cash we are holding. The interest from these deposits has contributed towards unrestricted general funds in 2023 and will continue to do so in the future. 14
AGAPE MINISTRIES LIMITED REPORT OF THE TRUSTEES The Trustees, Reserve Policy The Trustees are aware that the main financial issues in 2024 are= The continued operation of our national headquarters. The funding of central running costs for which 76% is budgeted to be funded through the 12.5% levy on funds raised by staff together with targeted fund development activities in 2024. This is budgeted as a broadly breakeven sÈtuation. The progress of a current initiative to develop new sources of funding for outreach activities. The existing reserves policy is to have 6 months reseeS to cover operating costs which are not directly funded from income. The budgeted costs for 2024 are around £326k and thi5 gives a tsrget of roughly £163k. At December 2023, cash reserves making up the tsrget were £68k for Unrestricted General Funds. When taking cash alone. Agapé's reserves are well below the required level according to the existing policy. The Trustees are very aware of the funding constraints faced by the organisation. alongside many others in the charity sertor and are committed to increasing cash reserves to provide a strong foundation that supports the wider activities of the ministry. If required. the Trustees can draw on funds desigriated for staff and ministry activities to cover any short-term financial gaps as funds have been given for the overall purposes of the organisation. In the longer term. Agapé intends to increase the focus on encouraging, supporting and equipping staff to reach 100% of their support goal. This will lead to an increase in donation income into the ministry and an increase in General funds as a result. The Executive leadership team are also increasing the focus on exploring other avenues of fund development. Auditors Prime Accountsnts were appointed as auditors in November 2023. replacing Mazars LLP. A resolution to re-appoint Prime Accountants as auditors will be proposed at the forthcoming annual general meeting. The Trustees, report has been PrePad in accordance with the prowsions applicable to companies entitled to the small companies, exemption provided by section 408 and section 414B Ibl of the Companies Act 2006. Approved and authorised for issue by the board on: 25 April 2024 By.. am air 167 Newhall Street Birmingham 83 1SW 15
AGAPE MINISTRIES LIMITED INDEPENDENT AUDITOR'S REPORT Opinion We have audited the financial statements of Agape Ministries Limited Ithe 'charity') for the year ended 31 December 2023 which comprise the Statement of Financial Artivities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements. including a summary of significant accounting policies. The finaricial reporting framework that has been applied in their preparation is 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.. In our opinion the financial statements= give a true and fair view of the state of the charitys affairs as at 31 December 2023 and of its income and expenditure, for the year then ended." have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prartice. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,; and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005, iegulations 6 and 8 of the Charities Accounts Iscotlandl Regulations 2006 las amended). Basis for opinion We conducted our audit in accordance with Intemational Stsndards on Auditing IUK) IISAS (UK)) and applicable law. Our responsibilitie5 under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity 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 ovf other ethical responsibilitie5 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 welaling to going concem In auditing the financial statements. we have concluded that the tnjstees. use of the going concem 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 group's and parent charity's ability to continue as a goin9 concern for a period of at least twelve months from when the financial statements are authorised lor issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other infomation. The other infomiation comprises the information included in the Annual Report other than the financial statements and OUT Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. 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 16
AGAPE MINISTRIES LIMITED INDEPENDENT AUDITOR'S REPORT obtained in the course of the audit. or otheThvise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine 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 thi5 regard. Opinions on other matters prescribed by tht Companies Act 2006 and the Charltles and Trustee Investment (Scotland) Act 2005. regulatlons 6 and 8 of the Charftles Accounts (Scotland) Regulatlons 2006 (as amended). In our opinion, based on the woth undertaken in the Coufse of the audit the information given in the Trustees. Report which includes the Dirertors. Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the Report of the Trustees has been prepared in accordance wsth applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit we have not identified material misstatements in the Trustees. Report. We have nothing to report in respert of the following matters where the Companie5 Act 2006 and the Charities Accounts Iscotlandl Regulations 2006 requires us to report to you if. in our opinion= adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us,- or the financial statements are not in agement with the accounting records and returns,. or certain disclosures of tmstees. remuneration Specified by law are not made- or we have not received all the information and explanations we require for our audit. the trustees were not entitled to prepare the financial statements in accordance with the small company's regime and take advantage of the small companies. exemption in preparing the Trustees, Report and from the requirement to prepare a Strategic Report Responsibilities of Trustees As explained more fully in the tnjstees. responsibilities statement set out on page 3, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a tnje and fair view. and for such intemal 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 charity'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 charity orto cease operations. or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial sLitements 17
AGAPE MINISTRIES LIMITED INDEPENDENT AUDITOR'S REPORT We have been appointed as auditor under Section 4411)ICI of the Charities and Trustee Investment (Scotlandl Act 2(H)5 and under the Companies Act 2006 and report in accordance with regulations made under those Acts. 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 effor, and to issue an Independent Auditorfs Report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with law5 and regulations. We designed procedures in line with our responsibilities, Outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our Procedu5 are capable of detecting irregularities. including fraud is detsiled below.. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law5 and regulations, was as follows: The engagement partner ensured that the engagement team collectively had the appropriate competence. capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.. We identified the laws and regulations applicable to the charity through discussions with trustees and other management and from commercial knowledge and experience of the industry sector, We focused on specific laws and regulations which we considered may have a dirert material effect on the financial statements or the operations of the charity including taxation legislation and data protection, anti- bribery, employment environmentsl and health and safety legislation- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence. We assessed the susceptibility of the company s financial statements to material misstatement including obtaining an understanding of how fraud might occur, ty. Making enquiries of management as to where they considered there was susceptibility to fraud. their knowledge of actual, suspected and alleged fraud." and Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we.. PerfoTmed analytical procedures to identify any unusual or unexpected relationships,. Tested journal entries to identify unusual transactions.. Assessed whether judgements and assumptions made in deterniining accounting estimates were indicative of potential bias,. and Investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to- Agreeing financial statement disclosures to underlying supporting documentation.. Reading the minutes of meetings of those charged with govemance- Enquiring of management as to actual and potential litigation and claims.- and 18
AGAPE MINISTRIES LIMITED INDEPENDENT AUDITOR'S REPORT Reviewing correspondence with HMRC and other relevant parties. 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 directors 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 for the audit of the financial statements is located on the Financial Reporting Council's website at bw4w.frc.org.uvauditorsrespon5ibilities. This description forms part of our Independent Auditorfs Report. Use of the audit report This report is made solely to the charitys members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 441lllc} of the Charities and Trustee Investment (Scotlandl Att 2005. regulation 10 of the Charities Accounts Iscotlandl Regulations 26 las amended) and with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so thatwe might State to the charity's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fvllest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charitys members as a body, for our audit work, for this reporL or for the opinions we have formed. Morgan Davies FCA (Senior Statutory Auditor) for and on behalf of Prime Chartered Accountants Statutory Avditor 161 Newhall Street Birmingham B3 1SW Date: 26.04.2024. 19
AGAPE MINISTRIES LIMITED ST ATEMENT OF FINANCIAL AcfIviTIES (Incorwbrating irtcome aDd expenditure account) Year ended 31 DecetThber 2023 Unrestricted Restricted Total funds fvnds funds 2023 Totsl funds 2022 Notes INCOME AND ENDOWMENTS FROM: Donations and Legacies Charitable Activities Other tfading artivities Investments 4,086.733 6.424 18,105 12,749 78,463 4.165,196 6,424 18,105 12,749 4,227.144 6,607 17,401 479 TOTAL INCOMING RESOURCES 4.124.011 78.463 4.202.474 4.251.631 EXPENDITURE ON: Raising funds Charitable activities Other 11.429 4.198.924 13.037 11,429 4.293,201 13,037 16,942 4,244,648 23,153 94.277 TOTAL 4.223.390 94.277 4.317.667 4.284.743 Net110ssl/gain on investments 12 (8571 18571 15,4321 NET (EXPENDITURE)/ INCOME 11(M).2361 115,814) 1116.0501 138,5441 Transfer between ndS 18 18.8141 8.814 Net movement in funds {109.0501 17.(K)01 1116,0501 138,5441 Fund Balances at Beginning of Year 1.297.388 331.483 1,628,871 1.667,415 FUND BALANCES AT END OF YEAR 1.188.338 324.483 1.512.821 1.628,871 All the above results are derived from continuing activities. The company has no recognised gains or losses other than the net movement in funds for the year. The {DeficitllSurplus for Companies Act Purposes is1£115,193)- 2022 was1£33,112}. 20
AGAPE MINISTRIES LIMITED BALANCE SHEET Year ended 31 December 2023 Company number 00949989 Notes 2023 2022 FIXED ASSETS Intangible fixed assets Tangible assets 10 11 2.955 643.004 15.962 647.834 645,959 663.796 CURRENT ASSETS Investments Term deposits Stocks Debtors Cash at bank and in hand 12 13 14 fA,907 614,021 10,934 154,565 223,162 624.887 9.111 151,237 165.437 950.672 1,067,589 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 16 183.810) 1102.5141 NET CURRENT Ass5 866,862 965,075 NET ASSETS 1.512.821 1.628.871 Unrestricted funds Restricted funds 19 20 1,188,338 324.483 1,297,388 331,483 TOTAL NET ASSErs 1.512.821 1.628,871 These financial statements which have been prepafed in accordance with the special provisions relating to companies subject to the small company's regime within CA 2006, Pt 15, were approved and authorised for issue by the board of direttors on: 25 April 2024. Steve Botham MembeT5 of the Council of management Kevin Russell 21
AGAPE MINISTRIES LIMITED STATEMENT OF CASH FLOWS Yegr ended 31 December 2023 Notes 2023 2022 Cash flows from operating activities: 21 {102,972) 110,1671 Cash flows from investing activities: Investment income Net purchase of property, plant and equipment including intangibles 65.933 117 {20.6861 (18,1331 Change in cash and cash equivalents in the reporting period 157,7251 128.183) Cash and cash equivalents at the beginning of the year 22 223.162 251,345 Cash and cash equivalents at the end of the year 22 165.437 223,162 22
AGAPE MINISTRIES LIMITED NOTES TO THE FINANCIAL STATEMENrs Year ended 31 D¢cember 2023 ACCOUNTING POLICIES Basis of accounting The financial ststements have been prepared in accordance with Accounting and Reporting by Charities- Staternellt of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021- (Charities SORP IFRS102 201911, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102) and the Companies Act 2006. Agape Ministries meets the definition of a public benefit entity undei FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notelsl. Preparation of the accounts on a going concern basis The company reported a cash ouffiow of £57.725 for the year. The Trustees have prepared detsiled financial perfomiance projections for the ensuing year. Those projections are reviewed and revised at the end of each reporting period within the companl5 financial year. Based on those projections the Trustees have satisfied themselves, as far as they are reasonably able and unforeseen events aside, that the company is in a position whereby it may adopt a going concern basis of accounting in preparing the annual financial statements. 2023 has continued to be a year where we have weathered the challenges of the current financial climate whilst maintaining our focus on helping people to discover Jesus. Our staff and ministry teams have been able to draw on funds raised in previous years to Sustain our ministry artivities and there has been a concerted effort amongst ministry leaders to prioritise the raising of new funds looking ahead to 2024, particularly with tnjst fund applications. Several applications were submitted in the latter half of 2023 and we anticipate a positive response from the majority of these with substantial investment in key projects that are planned. Our model of ministry partner development where staff raise teams of ministry partners to support the organisation financially, has proven to be robust despite the financial constraints facing the UK. Donation income has remained broadly stable over the past 3 years and we forecast it to continue doing so, even with a small uptick in 2024. With efficient management of our operating costs, we believe we will be adequately resourced for the year to come. Looking ahead to 2024, we will continue to invest more resources into fundraising activities beyond the self- funding model of staff to ensure that ministry teams and projects are fully funded and new opportunities can be explored unhindered. We have made pwdent decisions regarding which events and activities to invest resources into resulting in a more effective approach to raising our profile and connecting with our target audience. Company ststus The company is a company limited by guarantee. The Directors of the company are the Trustees named in the "Reference and Administrative Details". In the event of the company being wound up, the liabilities in respect of the guarantee is limited to £1 per member of the company. 23
AGAPE MINisfRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 Use of estimates and judgements When preparing the financial statements. management make5 several judgements. estimates and assumptions about the recognition and measurement of assets. liabilities. income. and expenses. The estimate that has the most significant effect relates to fixed assets. Determining residual values and useful economic lives of ftxed assets The Company depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore reqijires estimates and assumptions to be applied by management The actual lives of these assets can vary depending on a variety of factors. including the propety market and maintenance programme. Incoming resouries The income and result for the year are attributable to the principal activities as set out in the report of the Council of Management. Most of the income is derived from the UK. however, some is received via Agapé Europe and via Campus Crusade for Christ International and is mainly for support of staff. Donations include all amounts receivable by the company in Te5pect of donations to support field workers and for other purposes. Income includes the amounts invoiced, excluding recoverable value added ts& in respect of the sale of literature and the sale of DVDS and other evangelism and discipleship resources. It also includes conference income, project income, and donations. Resources expended In the presentation of these accounts. expenditure against each activity includes stsff expenses of self-funding staff and an allocation of support costs, see note 3 below. The cost of generating funds is the direct Costs linclvding salaries) of Agapé communication such as yearly.move Magazine" and an overhead charge on the gross income Tai5ed. No external agencies were contracted to raise funds on behalf of Agapé and all communications were sent to individuals who had expressed consent to receive them. All giving was on a voluntary basis. The basis for allocation of support costs to activities has been pro rata to the totsl income and expenses of each activity, excepting those which are restricted fund5. where overseas appeals are charged a fixed percentage on gross income (see paragraph above). The policy on grants to artivities of overseas Agapé organisations is not to enter commitments to provide funding which has not yet been raised. by more than £IOk for any one commitmerbt. Governance costs These include the cost of professional advice. audit costs. COM meeting costs. staff costs to produce the annual accounts and reports to COM, together with an allocation support costs. 24
AGAPE MINISTRIES LIMITED NOTES TO THE FINAf4CIAL STATEMENTS Year tnded 31 December 2023 Fixed Assets Item5 of a capital nature purchased from Agapé General Funds and costing ovei £500 are capitalised as fixed asset5 at C05t. Depreciation is provided at rates calculated to write off the cost less estimated residual value, of each asset on a straight-line basis over its experted useful life as follows= Freehold land per annum Freehold property Computer equipment Office equipment Motor vehicle 2% per annum 33 113% per annum 33 113% per annum 33 113% per annum Intangible Fixed Assets Intsngible assets are assets that are identtfiable and possess all the following characteristics.. lack of physical substance, nonfinarbcial nature Inot in monetary form like cash or investment securities} and initial useful life extending beyond a single reporting period. Intangible assets are amortised over three years. Operating leases Rentals payable under operating leases are charged on a straight-line basis over the term of the lease. Finance leases Assets held under finance leases and the related lease obligations are induded at the fair value of the leased assets at the inception of the lease. Depreciation on leased assets is calculated to write off this amount on a straight-line basis over the shorter of the lease term and the useful life of the asset. Rentals payable are apportioned between the finance charge and a reduction of the outstanding obligation for future amounts payable so that the charge for each period is a constant percentage of the remaining balance of the capital sum outstanding. Stocks and work in progress Stocks and work in progress are stated at lower of cost and net realisable value. Tax refunds on gift aid income Credit 15 taken in the Statement of Financial Activitie5 for tsx refund5 receivable in the current accounting period. Financial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which would be subsequently measured at amortised cost using the effective interest method. 25
AGAPE MINISTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 Investments Investments are a fo of basic financial instrument and are initially recognised at their transaction valve and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. Grants Grants during 2023 were made solely to overseas Agapélcampus Crusade for Christ activities. 3% of all donations received by Agapé UK in the year are "tithed- by way of a grant during the year following that in which they were received. These"tithes- are used to support Agapelcampus operations in courbtries where the need is greatest and where raising funds locally is exceptionally challenging. Any donations received in the UK for Agapélcampus Crusade workers based overseas are passed on, by way of an in-year 9rant, to the ministry in that country for use by the designated staff member. Designated funds The nature and purpose of such funds are as follows.. Staff.. Monies received that are applied to support self-funded workers expenses. Student Minist. Donations designated for activities intended to further the Christian discipleship of students and other young people. Non-campus Ministry. Donations designated for activities intended to further the Christian discipleship in the UK including working with churches, within the workplace. and Muslims. Projects and events.. Funds held to be spent on UK events. such as Big Church Day OUL to increase the profile and exposure of Agapé UK. Urgent Needs Fund." Staff funds specifically set aside to assist staff should they face unexpected financial difficulties or hardship. International Ministry. Donations designated for teams working to further the Christian discipleship in countries other than the UK. International Mission Projects.. Donations designated for short tem) projects (less than a monthl to take students to other parts of the world to further Christian discipleship. Designated Asset based funds-. Funds that reflect the net b(M)k value of fixed and intangible assets held by Agapé UK. Restrirted funds These include proceeds from the sale of a restricted part of a leasehold property and specific appeals for international development projects which are managed by overseas sister Agapé organisations where the balance represents funds not yet utilised. 26
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AGAPE MINISTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2023 6. INCOMING RESOURCES FOR THE YEAR This is stated after charging: 2023 2022 Staff costs (note 8) Depreciation of intangible and tangible fixed assets Hire of equipment- operation leases Rent and Rates Auditorfs remuneration- for audit 2,970,717 2.908,270 39.027 64,873 7,440 10.107 12,722 9,341 11,400 COUNCIL OF MANAGEMENT No council members received any remuneration from the company in the year to 31 December 202312022, nill. A total of £314.5912022, £104.14) was received by Council members as reimbursement for expenditure irbcurred for their responsibilities with the charity. Agape UK held Trustees Indemnity Insurance cover throughout the year of £1,0.000. 30
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AGAPE MINisfRIES LIMITED NOTES TO THE FINAf4ciAL STATEMENTS Year eThded 31 Deeember 2023 Salary Level The following principles a observed in setting the salary scale of all staff including key management personnel= Salary level is based on the deliberate choice of lifestyle that best enhances the ministry's goals. This will normally entail sacrifice from what staff would otherwise eam. Salary level should be adequate so that our staff members can minister without constant distractions due to lack of money. Salary should consider how stsff members. lifestyle should appear to the people to whom they minister. A person's lifestyle should not interfere with his or her ministry. Certain variations may be needed within the salary scale depending on where stsff Mernbe are required to live, to whom they are required to minister, etc. Salary should consider how the lifestyle of staff members will be viewed by the local Christian community and other people. Our staff members. lifestyle should not cause their Christian brothers to stumble. There is not to be any variation of salary due to P051tion within the organisation. Supported staff of Agapé in the United Kingdom are paid a monthly salary. They can fix their own salary level between set limits and subject to their team leaders, approval. The higher limit or"cap" is set to reflect to some extent each person's needs, considering where they live. age, marital status and number and ages of children. The lower limit is half of the cap but only where this is greater than the National Living Wage. The salary taken by staff members will cover all their personal expenses, in the nomal way. such as accommodation, water rates. Council Tax. children's education and car expenses. Staff are encouraged not to cover their normal reimbursable ministry expenses through taking higher salary as thi5 is taxable income and increases the amount of support required. The salary scale is reviewed annually in the light of changes in the cost of living and is adjusted by the prevailing RPI (Retail Price Index). A new scale takes effect from 1st September of each year. TATION The company is a registered charity (number 2584211 and was not liable to corporation tax in the year to 31 December 2023 or in 2022. 33
AGAPE MINISTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS Ye&r ended 31 Deeember 2023 10. INTANGIBLE FIXED ASSErs Toucan App Website Total COST At 1 January 2023 Additions Disposals 257,IY)2 39,883 617 296,885 617 At 31 December 2023 257.(X)2 40.500 297,502 DEPRECIATION At l January 2023 Charge for the year Disposals 242,268 12,586 38,655 1,038 280,923 13,624 At 31 December 2023 254.854 39.693 294,547 NET BOOKVALUE At 31 December 2023 2.148 807 2.955 At 31 December 2022 14.734 1,228 15,962 34
AGAPE MINISTRIES LIMITED ]YOTES TO THE FINANCIAL sfATEMEKrs Year endegl 31 Deeember 2023 11. TANGIBLE FIXED ASSErs Fixture5 Freehold frttings & Property equipment Freehold Land Vehicles Total COST At 1 january 2023 Additions Disposals 125,IXK) 620.694 184,296 5.294 16251 929,990 20,694 16251 15,4(K) At 31 December 2023 125.C 620,694 188,965 15.400 950,059 ACCUMULATED DEPRECIATION At l January 2023 Charge for the year Disposals 118.516 12.414 163.640 10,850 15041 282,156 25,403 15041 2,139 At 31 December 2023 130.930 173,986 2.139 307,055 NEf BOOK VALUE At 31 December 2023 125,(XX) 489,764 14,979 13,261 643,004 At 31 December 2022 125.CrfXI 502.178 20.656 647,834 12. CURRENT ASSEf INVESTMENTS 2023 Market Value as at 31 December 2022 64,907 Disposal 164,050) Net gains1110sses1 for year 1857) Market value at 31 December 2023 Investments comprised units in funds managed by Canaccord Genuity that were given as a gift to Agapé UK. They were disposed of in the year due in favour of a more reliable investment source. 35
AGAPE MINISTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Decernbtr 2023 13. TERM DEPOSITS 2023 Value at 31, December 2022 614.021 Interest earned 10.866 Value at 31st December 2023 624.887 Four 12-month fixed rate treasury deposits held with Lloyds Banl with initial investment of £6,000 in total. Deposits opened at 3-month intervals with one maturing each quarter. In 2023, funds were reinvested upon maturity. 14. STOCK 2023 2022 Goods foT resale 9.111 10,934 15. DEBTORS 2023 2022 Due within one year. Trade debtors Tax due as Gift Aid Other Debtors Other Campus Crusade Debtors Prepayments Deposits VAT 2.530 330 16.584 106.741 10.256 11.314 3.482 250 19 9,956 118.940 23.547 1,853 151,237 154.565 36
AGAPE MINISTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS Yegr ended 31 December 2023 16. CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Other taxation and social security costs Pensions Accruals Deferred income Other Campus Crusade Creditors Other Current Liabilities 3,571 52,628 203 11.500 15,663 48,044 543 13.090 4,195 3,001 17,978 10,522 5,386 83.810 102.514 17. CONTINGENT LIABILITIES There are none to report in 2023 or in 2022. 18. MOVEMENT IN FUNDS BALANCES General Dignated Restricted funds funds funds Total funds Balance at l January 2023 IDelicitl for the year Transfers 167.804 1394,0131 378,695 1.129.584 293.777 1387.5091 331.483 1.628.871 115,8141 1116,OSOI 8.814 Balance at 31 December 2023 152.486 1.035.852 324,483 1,512.821 37
AGAPE MINISTRIES LIMITED NOTES TO THE Fif+lANCIAL STATEMENTS Ye#r ended 31 DeCeber 2023 19. UNRESTRICTED FUNDS Balance al I January 2023 Net Realised Incoming Gains on Resource5 Investments Balance at 31 Decernber 2023 Transfers Designated Staff Designated Student Designated Non Campus Designated Projects and Events Designated Fund Development Designated Urgent Needs Fund Designated Conference Fund Designated International Mission Projects Designated Funds for other CCC 679,997 27,479 76,075 7,609 9,280 25,973 17,742 334.015 114,0271 18.4911 (19.4721 925 3.382 11.702) 1355,3731 6,947 12,7531 11,863 19.6351 17,6671 116,0401 658,639 20.399 64,831 570 21,688 3.681 23.107 115,4181 14.565 18,959 {33,5191 7.222 4,153 Designated (Fund Based) Total 870.943 293.777 (387.218) 777.502 Designated Premises Designated Equipment Fund Designated Toucan Fund Designated Website Fund 239,873 3,647 14.735 386 239,873 3,356 14,735 386 12911 Designated (A55et Based) Total 258.641 (2911 258.350 General Funds 167.804 1393.1561 185n 378,695 152,486 Unrestricted Funds 1.297.388 (99.379) {857) {8.814) 1.188.338 38
AGAPE MINISTRIES LIMITED NOTES TO THE FINANCIAL STATEMEf4TS Year ¢Dded 31 December 2023 20. FINANCIAL RESTRICTED FUNDS Fund raised for international Property development Funds for Fund projects ministries Total Balance at l January 2023 303.581 27.902 331,483 Net incoming resources 113,411) 12,4031 115.8141 Transfers (2.1341 10,948 8,814 Balance at 31 December 2023 303.581 12.357 8,545 324,483 The Propety Fund comprises the portion of restricted funding used to purchase our current office in Birmingham and represents this portion of the net book value propety which is held at cost 21. RECONCILIATION OF NEf INCOMEIIEXPENDITUREI TO NEf CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net incomellexpenditure) for the reporting period las per the statement of financial activities} 1116,050) 138,5441 Adjustments for. Interest Receivable Depreciation charges IGainsl/losses on investments Interest on term deposits {increaselldecrease in stocks lincreaselldecreasel in debtors Increase/ldecreasel in creditors {1.883) 38,523 857 110,8661 1.823 3,328 118,7041 11161 64,875 5.432 13621 19.7791 172,5651 40.892 Net cash provided by lused inl operating activities 1102,9721 110,1671 22. ANALYSIS OF CASH AND CASH EQUIVALENTS 2023 2022 Cash in hand Notice deposits (less than 3 months) 633 222.529 165.437 Total cash and cash equivalents 165.437 223.162 39
AGAPE MINISTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 21123 23. OTHER FINANCIAL COMMITMENTS Land & buildings 2023 2022 Other 2023 2022 Amounts payable on leases which expire: Within one year Within two to five years Over five years 3,400 4,700 13,471 250 18.165 8,100 24. ANALYSIS OF NEf ASSEfs BETWEEN FUNDS Unrestrbcted fund5 General Designated Restricted funds funds funds Totsl Fund balances at 31 December 2023 are represented by: Fixed assets Net Current Assets 84.028 68,458 258.350 777.502 303.581 20.902 645,959 866,862 Balance at 31 December 2023 152.486 1.035,852 324,483 1.512,821 25. RELATED PARTY TRAN5AcfioNS One of Agape MinistTies' Trustees was employed by Stewardship in the UK during 2023. Stewardship help Christians, charities and churches activate 9enerosity, resource their calling and make a difference in Jesus, name. A number of individuals who give to Agapé do so through Stewardship or a Stewardship giving account. Stewardship charge a small fee on each gift given to them to cover processing costs. Stewardship do not chaige A9apé or any other Christian organisation for their services. Agapé do not receive favourable terms through the relationship our trustee has. At the date of signing, no trustees are employed by Stewardship. 26. EVENTS AFfER THE BALANCE SHE DATE As Global Aid Network IGAINI UK have become a separate registered charity. all assets relating to their activities will be transferred to the new entity during this next financial year. 40
AGAPE MINISTRIES LIMITED NOTES TO THE FINANCIAL sfATEMENTS Year ended 31 December 2023 27. STATEMEf4T OF FINANCIAL AcfiviTIES (IDcorpor*titsg an incom¢ and expenditure acfount) Year eDded 31 December 2022 Unrestrirted Restrirted Totsl fvnds Total funds fvnds funds 2022 2021 Notes INCOME AND ENDOWMENTS FROM: Donations and Legacies Charitable Activities Other trading activities Investments 4.106.741 6,607 17,401 479 120,403 4.227.144 6,607 17.401 479 3,584,949 1,129 11,692 1,774 TOTAL INCOMING RESOURCES 4.131.228 120.403 4.251.631 3.599,544 EXPENDITURE ON: Raising funds Charitable activities Other 16.931 4.146,560 16.956 16,931 4,243,759 24,053 70,364 3,660,992 20,765 97.199 7.097 TOTAL 4.180.447 104.296 4.284.743 3,752.121 Net Ilossl/gain on investments 15.4321 15.4321 3,356 NET (EXPENDITURE)/ INCOME 154,6511 16.107 138,544) {149,2211 Transfer between funds 16.736 116,7361 Net movement in funds 137,915) 16291 138,5441 1149,2211 Fund Balances at Be9inning of Year 1.335.303 332.112 1.667.415 1,816.636 FUND BALANCES AT END OF YEAR 1.297.388 331.483 1.628.871 1,667,41 S 41