CHARITY REGISTRATION NUMBER: 260812 GOSPEL MISSION OF SOUTH AMERICA Unaudited Financial Statements 31 December 2023 Chartered accountants 23-25 Darling Street Enniskillen Co Fermanagh United Kingdom BT74 ?DP
GOSPEL MISSION OF SOUTH AMERICA Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements
GOSPEL MISSION OF SOUTH AMERICA 'Trustees' Annual Report Year ended 31 December 2023 The Iruslees present their report and the unaudited financial slatemenl$ of the charity for the year ended 31 December 2023 Ref8renco and admlnlstratlve dotalls Reglstered charlty name GOSPEL MISSION OF SOUTH AMERICA Charlty reglstration numbor 260812 Prlnclpal offlce 8 GALMORE PARK TOBERMORE MAGHERAFELT CO LONDONDERRY BT45 5PQ The trusto9$ Mr$ D Hall Rev P Acheson Mr R J Crozier The ¢urrent Trustees are as follows.- Rev Paul Acheson Mr Joseph Crozier Mrs Daphne Hall Independent examlner Catherine Crudden Crudden Dolan Ltd 23-25 Darling Street Enniskillen Co Fermanagh United Kingdom BT74 ?DP
GOSPEL MISSION OF SOUTH AMERICA Trustees, Annual Report (continued) Year ended 31 December 2023 Structure, governance and management Gospel Mission of South America Trust Registered Charity no 260812 Main conlacl.. Mr Nigel Kissick Address.. 8 Galmore Park Tobermore Magherafell Co. Londonderry BT45 5PQ Trustees The current Trustees are as follows.- Rev Paul Acheson Mr Joseph Crozier Mrs Daphne Hall StructurelGovernancelManagemenl Gospel Mission of South America Trust is a foreign missionary agency operating in the UK as an unincorporated institution governed by its Trust Deed of 16th February 1970 upon which it was registered as a charity In the United Kingdom on 9th April 1970. Our serving Trustees are people who have a dislinclive Christian leslimony and a desire lo be involved in advancing the Christian message, particularly in the regions in which GMSA operates, they may also have relevant knowledge or skills lo be able lo to keep abreast of the requirements ol managing a charity in the UK. To assist the Trustees a UK Boardl Council has been established made up of Pastors and interested Christians whose unpaid role is lo provide counsel and assistance to the Tru51eeslMission as well as oversight and promotion in the UK.
GOSPEL MISSION OF SOUTH AMERICA Trustees, Annual Report (continued) Year ended 31 December 2023 Oblectlv*s and actlvltle$ Objectives and Activities The charitable objectives upon which the Mission is registered by the Charity Commission Include general charitsble purposes. the prevention or relief of povety & religious activities Our key activity is in the promolion of religious beliefs and activities in the UK, directed specifically to South America. The Mission has persons placed in Argentina, Chile & Uruguay. In order lo make the Mission and il's work in South America more widely known within the UK and Ireland. deputation visits are carried out by our UK based Home Director, la paid non-lruslee appoinlmenll During the period of these accounts (January - December 20231. 114 deputation visits have been undertaken to churches and mission halls, reaching an audience of approximately 7057 persons, with 5837 miles travelled The activities by which the charitable objectives are advanced in South America remain unchanged and are three-fold:_ 1. Planting of local churches which are developed and graduated lo national leadership 2. Bible Inslilule training which is designed lo train leaders for existing Churches as well as for churche5 that are about lo graduate and need national leadership and we have 4 such places in South America, with a number ol students slucsying lor Christian Ministry. 3 Camp development - Christian camps are excellent places for evangelism, family development and church fellowship across a range of ages and backgrounds. The Mission has 2 camp cenlres in Chile,IPiruque & Lican Rayl 1 in Paysandu. Uruguay & 1 in Chivilocy. Argentina. The camps can accommodate 50-80+ persons, who may come from both church and non<hurch backgrounds. In the past, the Mission has established a partnership with a voluntary UK based organisalion known as 'LIFT' (Labour In Faith and Trust) Volunteers who travel to South America do so al their own expense, and bring practical skills which make il possible lo build or improve, lal less cost), the GMSA facilities available for the well-being of the local community, who will benefit from their use GMSA IUKI sent a work team to Piruque, Santiago, Chile on 27 September 2023. returning home on 13 October 2023 We were grateful for the 9 individuals. joined by our UK Home Director. Mr Nigel Kissick. who volunteered their lime, skills and money.lfor their flights), to go and serve in the building of a local churchlcamp meeting building plus completing other joinery projects on the sile Public Benefit Slalement The Trustees confirm that the work of the Mission has regard to the public benefit requirement under the law, and that none of the Trustees receive any private benefit for carrying out their Tru51ee role. Achlevements and performance The charity has continued spreading the gospel messagelGood News in all three countries in which il operates, helping and encouraging. people to make good life-style choices that will also improve their moral. social, mental and physical well-being Flnan¢lal revlew The Mission is supported financially and prayerfully on a purely voluntary basis by people from across the British Isles In the year ended 31 December 2023. our income was £82981 with expenditure of £76421 The income is used lo support the work of making the Mission known across the UK and Ireland through deputation meetings, ¢overing relevant goveranceladminislration expenses and if relevant funding specific projects. We do not have a formal policy for holding reserves.. any surplus that arises in a particular year Is simply carried over into the following year
GOSPEL MISSION OF SOUTH AMERICA Trust8es' Annual Report (continued) Year ended 31 December 2023 Plans for future perlods In looking forward lo 2024. and recognising an ever changing world situation with many practical, financial and spiritual challenges, il is the intention ol the Trustees lo seek lo maintain the witness of the Mission, and with God's enabling see it's influence grow, so that il may be more widely known across the UK and Ireland. and Europe also. We also plan in 2025 to lake a workteam into one if not vo of our GMSA locations in South America. lo help with ¢onslruclion projects. The Iruslees, annual report was approved on 8 October 2024 and Signed on behalf of the board of Iruslees by". Mrs D Hall Trustee
GOSPEL MISSION OF SOUTH AMERICA Independent Examiner's Reportto the Trustees of GOSPEL MISSION OF SOUTH AMERICA Year ended 31 December 2023 I report to the Iruslees on my examination of the financial statements of GOSPEL MISSION OF SOUTH AMERICA I'lhe charity'l for the year ended 31 December 2023 Responslbllltles and basls of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 I'lhe Acl'l. I report in respect ol my examination of the ¢harity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llb} of the Act. Independent examlner's ststement I have completed my examination. I confirm that no material matters have come lo my allenlion in connection with the examination giving me cause to believe that in any material respect". accounting feeords were not kept in respect of the chanty as required by section 130 of the Act, or the financial slaternenls do not accord with those records.. or the financial statements do not comply with the applicable requirement5 concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulation5 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. ( G£L_ Catherine Crudden Crudden Dolan Ltd Independent Examiner 23-25 Darling Street Enniskillen Co Fermanagh United Kingdom BT74 7DP
GOSPEL MISSION OF SOUTH AMERICA Statement of Financial Activities Year ended 31 December 2023 2023 Restricted lunds Total lunds 2022 Unreslricled funds Total funds Income and endowments Donations and legacies Investment income 49.703 139 33.140 82,843 139 31,452 13 Total Incorne 49,842 33,140 82,982 31,465 Expendlture Expenditure on chafilable activities Other expenditure 42,490 928 33.003 75.493 928 36,796 4.508 Total expendlture 43,418 33.003 76,421 41.304 Net Incomelloxpendlturel and net movement In funds 6,424 137 6,561 19,8391 Reconclllatlon of funds Total funds brought forward Total funds carrled forward 33,621 33,621 43.460 40,045 137 40,182 33.621 The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expendilure derive from continuing activities. The notes on pages 9 to 14 form part of these Nnanclol statements.
GOSPEL MISSION OF SOUTH AMERICA Statement of Financial Position 31 December 2023 2023 2022 Note Current assets Cash al bank and In hand 40,182 33.621 Net current assets 40,182 33.621 Total assets lèss current Ilabllltles 40,182 33,621 Funds of the charlty Restricted funds Unreslricled funds 137 40,045 33,621 Total charlty funds 13 40,182 33,621 These financial 51alemenls were approved by the board ol trustees and aulhorised for issue on 8 October 2024. and are signed on behalf of the tx)ard by.. Mrs D Hall Trustee The notes on page8 9 to 14 form part of the8e flnan¢lal $tatsments.
GOSPEL MISSION OF SOUTH AMERICA Statement of Cash Flow8 Year ended 31 December 2023 2023 2022 Cash nows from operatlng actlvltl¢• Nel Incomellexpendilurel 6,561 19,8391 Adjustments for. Other interest receivable and similar income {139) 6,422 1131 19,8521 Cash generated from operations Interest received 139 13 Nel eash fromllused inl operating activities 6,561 {9,8391 Net Increaselldecreasel In cash and eash equlvalents Ca8h and cash equivalents at beglnnlng of year Cash and cash equlvalents ot ond ol year 6,S61 33,621 (9.8391 43.460 40,182 33.621 The notes on page$ 9 to 14 fomi part of these financlal statem•nts.
GOSPEL MISSION OF SOUTH AMERICA Notes to the Flnancial Statements Year ended 31 December 2023 General Inforrnatlon The chafity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 8 CALMORE PARK. TOBERMORE. MAGHERAFELT, BT45 5PQ. LONDONDERRY. Statoment of compllanc8 These finan¢ial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice appliFable to ¢harilies preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharilies SORP IFRS 10211 and the Charities Act 2011. Accountlng pollcl•s Ba$ls of preparation The financial slalemenls have been prepared on the historical cost basis, as modified by the revalualion ol certain financial assets and liabilities and investment properties measured al fair value Ihrough income Of expenditure. The financial $tslemenls are prepared in sterling, which is the functsonal currency of the entity Golng concern There are no material uncertainlie3 about the charity's ability to ¢onlinue. Judgemènts #nd koy sources of estlmatlon un¢•rtalnty The preparation of the financ1 slalements requires rnanagemenl lo make judgements, estimates and assumptions that affect the arnounls reported. These e51imales and judgernents are continually reviewed and are based on experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Fund accountlng Unreslricled funds are available for use al the discretion of the tfuslees lo further any of the charity's purposes. Designated funds are unrestricted fvnds earmarked by the trustees lor particular fLrture project or cornmitmenl. Restricted fvnds are subjected lo $triCt10n$ on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. reslricled Income funds or endowment lunds.
GOSPEL MISSION OF SOUTH AMERICA Notes to the Financial Ststements (conllnu•d) Year ended 31 December 2023 Ac¢ountlng pollcles (conllnued) Incomlng resources All incoming resources are included in the statement of financi81 activities when entitlement has passed lo the charity., il is probable that the economi¢ benefits asso¢iated with the transaction will flow lo the charity and the amounl be reliably Measured. The following specffjc policies are applied lo parb'cular calegories of income.. income from donations or grants is recognised when there is evidence of entillemenl lo the gift. receipt is probable and its amount can be measured reliably. legacy income is re¢ognised when receipt is probable and entillemenl is established. income from donated goods is measureé at the fair value ol the goods unless this is impractical lo measure reliably. in which case the value is derived from the cost lo the donor or the eslimaled resale value. Donated facilities and service5 are recognised in the accounts when received if the value can be reliably measured. No arnounls are included for the contribution of general volunteers. income from contracts for the supply of services is recognised wrth the delivery of the contracted seryice. This is classified as unreslri¢led ftjnds unless there is a conlraclual requirement for il lo be spent on a parttcular purpose and returned if unspent, in which case il may be regarded as reslricled. Resources expended Expenditure is recognised on an accruals basis as a Iiabllity is incurred. Expenditu includes any VAT which cannot be fully recovere(I, and is classified under headings ol the slalemenl of financial activities to which il relates.. expendilLtre on raising funds includes the co$15 of all lunaraising a¢livilies. events, non•charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all ¢osls In¢urred by a charity in undertaking activities that further ils charitable aims for the benefit of ils beneficiaries. including those support costs and costs relating lo the governance of the charity apportioned lo charitable activities. other expenditure includes all expenditure that is neither related to raising fund$ for the charity nor part of its expenditure on charitable activities. All costs are allwaled lo expendilufe categories reflecting the use of the resource. Direct costs attributable lo a single activity are allocated directly to that aelivity. Shared costs are apportioned behveen the activities they COAlribule lo on a reasonable. justifiable and consistent basis. Flnanclal Instruments A financi81 asset or a finanaal liability is recognised only when the charity becomes a party to the conlraclual provisions of the instrument. Basic financial instruments are initially rewnised at the amount receivable or payable including any related transaction cosls. Current assets and current liabilities are subsequently measured al the cash or other ¢onsideralion expected lo be paid or ceived and not discounted. 10
GOSPEL MISSION OF SOUTH AMERICA Notes to the Financial Ststements i¢tsntlnu•d) Year ended 31 December 2023 Accountlng pollcles (contlnu•d) Flnanclal In8tfumènt$ 1¢gniinuad) Debt instruments are subsequently measured al amortised cost. ere investments in shares are publicly traded or their fair value can otherwise be measured reliably. the investment is sybsequenlly measured al fair value with changes in 18ir value recognised In in¢ome and expenditure. All other such investments are subsequently measured al cost less impairment. Other financial instruments, including derivatives. are initially recognised at fair value, unless payment for an assel is deferred beyond normal business tems or financed at a rale of intere51 that is not a market rate, in which case the asset is measufed al the present value ol the future payments discounted al a market rale of interest lor a similar debt inslrumenl. Other financial instruments are subsequently measured al fair value, with any changes recognised in the statement of financial acts"vities, with the exception of hedging instruments in a designated hedging relationship. Financial assels that are measured at cost or amortised cost are reviewed for obje¢live evidence ol impairment al the end of each reporting dale. 11 there is obje¢tNe evidence of impairment. an impairment loss is recogni5ed under the appropriate heading in the statement of finan¢ial activities in which the initial gain was recognised. For all equity inslrumenl$ regardles5 of swnificance. and other financial assets that are individually significant. these are assessed individually for impaimenl Other financial assets are either assessed indiv##ually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, lo the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previousty been recognised. Deflned contrlbutlon plans Contributions to defined conth'bulion plan5 are recognised a$ an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset lo the exlenl that the prepayment will lead to a reduction in fvlure payments or a cash refund. en contributions are not expected lo be settled wholly within 12 months of the end of the reporting date in which the employees render the related service. the liability Is measured on a discounted present value basis. The unwinding of the discourtl is recognised 35 an expen$e in the period in which il arises. Donatlons and legacle8 Unreslricled FLtnd$ Restricted Total Funds Funds 2023 Donatlon$ General Fund Gift aid tax Project- Camp Piruque. Chile 46.905 2,798 46,905 2,798 33,140 33.140 49,703 33.140 82,843 11
GOSPEL MISSION OF SOUTH AMERICA Notes to the Financial Statements leonllnu•dJ Year ended 31 December 2023 Donatlons and legacle8 Icontlnu8 Unreslrithd Funds Restricted Total Fund5 Funds 2022 Don4tlon8 General Fund Gift aid lax Project - Camp Piruque, Chile 29.834 1.618 29,834 1,618 31,452 31,452 Investment Incomo Unrestricted Total Fund¥ Unreslricled Total Fund5 Funds 2023 Funds 2022 8ank interest received 139 139 13 Expendlture on charftable actlvFtle8 by fund type Unreslricled Funds Restricted Total Fund8 Funds 2023 Support costs 42,490 33.003 75,493 Unreslricled Funds Reslricted Total Funds Funds 2022 Support costs 36,796 36,796 Expenditure on charltable actlvltles by actlylty type Supwrt ~otal funds costs 2023 Total ftjnd 2022 Ravens support IUSAI Camp Piruque, Santiago, Chile Governance costs 3,600 33,003 38,890 3.600 33,003 38.890 3,050 33,746 75.493 75.493 36,796 Analy818 of 8UPPOrt costs Analysis of support Costs activity 1 Total 2023 Total 2022 Staff costs 31,688 31,688 29.272 12
GOSPEL MISSION OF SOUTH AMERICA Notes to the Financlal Statements (conrinu¢d) Year ended 31 December 2023 Other expendlture Unstricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Travel & accomodalion costs I 928 928 4,508 4,508 10. Staff costs The lolal staff costs and employee benefits for the reporting period are analysed as follows.. 2023 2022 Wages and salaries Employer contributions to pension plans 29,772 1,916 31,688 26,716 1,742 28.458 The average head eounl of employees during the year was 112022.. 11. No employee r1Ved employee benefits of more than £60,000 during the year12022. Nill. 11. Trustee remuneratlon and expenses No remuneration or other benefits from empkjymenl wilh the charity or a related entity were received by the trustees 12. Penslons and othor post rotlrement beneflts Deflned contrlbutlon plan¥ The amount recognised in income or expenditure as an expense in relatson to defined contribution plans was £1,91612022'. £1,742). 13. Analysls ol charltable funds Unre8trlcted funds Al 1 January 20 23 At 31 Decemb• r 2023 Income Expenditure General Fund 33.621 49.842 143,418) 40.045 At 1 January 20 22 Al 31 December 2022 Income Expenditure General Fund 43.460 31,46S 141,304} 33,621 13
GOSPEL MISSION OF SOUTH AMERICA Notes to the Financial Statsments fconiintmLIJ Year ended 31 December 2023 13. Analy818 of charltable funds {conllnu8dJ Re8trf¢tèd fund$ At l January 20 23 At 31 Decembè r 2023 Income Expenditure Projecl- Camp Fund 33.140 133.0031 137 Al 1 January 20 22 Al 31 December 2022 Income Expenditure Project- Camp Fund 14. Analy858 of not a$s¢ts tween funds Unreslricled Total Fund8 Funds 2023 Currenl assels 40,045 40.045 Unrestiicted Total Funds Funds 2022 Current assets 33,621 33,621 15. Analy818 of ¢hange$ in not debt At 1 Jan 2023 At ash flows 3109¢ 2023 Cash al bank and in hand 33,621 6,561 40,182 14