CHARITY REGISTRATION NUMBER.. 260812 GOSPEL MISSION OF SOUTH AMERICA Unaudited Financial Statements 31 December 2024 CATHERINE CRUDDEN ACA Chartered accountants 23-25 Darling Street Enniskillen Co Fermanagh United Kingdom BT74 7DP
GOSPEL MISSION OF SOUTH AMERICA Financial Statements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of f5nancial position Slatement of cash ftows Notes to the financial statements
GOSPEL MISSION OF SOUTH AMERICA Trustses, Annual Report Year ended 31 December 2024 The Iruslees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024. Reference and admlnlstratlve detalls Registered charfty name GOSPEL MISSION OF SOUTH AMERICA Charity registration number 260812 Prlnclpal offlce 8 CALMORE PARK TOBERMORE MAGHERAFELT CO LONDONDERRY BT45 5PQ The trustees Mr5 D Hall Rev P Acheson Mr R J Crozier The current Trustees are as follows'.- Rev. Paul Acheson Mr Joseph Crozier Mrs Daphne Hall Independent examiner Catherine Crudden ACA 23-25 Darling Stmt Enniskillen Co Fermanagh United Kingdom BT74 7DP
GOSPEL MISSION OF SOUTH AMERICA Trustees, Annual Report (continued) Year ended 31 December 2024 StructUTe, governance and management Gospel Mission of South America Trust Registered Charity no. 260812 Main contact.. Mr Nigel Kissick Address". 8 Calmore Park Tobermore Magherafelt Co. Londonderry BT45 5PQ Trustees The current Trustees are as follows'.- Rev Paul Acheson Mr Joseph Crozier Mrs Daphne Hall SlruclurelGovernancelManagement Gospel Mission of South America Trust is a foreign missionary agency operating in the UK as an unincorporated institution governed by ils Trust Deed of 16th February 1970 upon which il was registered as a charity in the United Kingdom on 9th April 1970. Our serving Trustees are people who have a distinctive Christian testimony and a desire to be involved in advancing the Christian message, particularly in the regions in which GMSA operates, they may also have relevant knowledge or skills to be able lo to keep abreast of the requirements of managing a charity in the UK. To assist the Trustees a UK Boardl Council has been estsblished made up of Pastors and interested Christians whose unpaid role is to provide counsel and assistance lo the Trusleeslmission as well as oversight and promotion in the UK.
GOSPEL MISSION OF SOUTH AMERICA Trustees. Annual Report (conllnued) Year ended 31 December 2024 Objectives and activities Objectives and Activities The charitable objectives upon which the Mission is registered by the Charity Commission include general charitable purposes. the prevention or relief of povety & religious activities. Our key activity is in the promotion 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 it'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-truslee appoinlmentl. During the period of these accounts {January - December 20241. 97 deputstion visits have been undertaken lo churches and mission halls, reaching an audience of approximately 6638 persons. with 9967 miles tr8velled. The activities by which the charitable objectives are advanced in South America remain unchanged and are Ihree-fold'.- 1. Planting of local churches which are developed and graduated lo nation81 leadership 2. Bible Inslilule training which is designed lo train leaders for existing churches as well as for churches that are about lo graduate and need national leadership and we have 4 such places in South America, with a number of students studying for 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 chur¢h and non-church backgrounds. As a Mission, we have a number of men & women of various ages and skills, willing lo help in building projects in the three countries we seNe. These volunteers who travel lo South America al their own expense. bring practical skills which make il possible to build andlor improve, lat less costl. the GMSA facilities available for the well~being of the local community, who will benefit from their use. Public Benefit Statement The Trustees confirm that the work of the Mission has regard lo the public benefit requirement uinder the law, and that none of the Trustees receive any private benefit for carrying out their Trustee role. Achievements and performance The charity has contr'nued spreading the gospel messagelGood News in all three countries in which it operates, helping and encoufftging people to make good life-style choices that will also improve their moral. social. mental and physical well-being. Financial review 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 2024, our income was £51489 with expenditure of £53620. The income is used lo support the work of making the Mission known across the UK and Ireland through deputation meetings, covering relevant goveranceladministmtion expenses and if relevant funding specific projects. In the 2024 year, we donated £1000.00 to Mr & Mrs Tom Gibbons to help with their Iravel cost5, £4100.00 lo help support Mr & Mrs D Raven,our USA HQ Office workers plus we also allocated £1660.00 lo the dwvelopmenl of the Chivicoy camp centre in Ar9entina. We are grateful to the Lord and a51 those who support the Mission financially for enabling us to continue with the the work, during what has generally continued to be a period of financial unrtainty and instability. We do not have a formal policy for holding reserves. any surplus that arises in a particular year is simply earried over into the following year
GOSPEL MISSION OF SOUTH AMERICA Trustees. Annual Report (contlnuedj Year ended 31 December 2024 Plans for future periods In looking forward lo 2024, and recognising an ever changin9 world situation with many practical, financial and spiritual challenges, it is the intention of the Trustees lo seek lo maintain the witness of the Mission. and with God's enabling see il's influence grow, so that it may be more widely known across the UK and Ireland. From a practical perspective, we are planning to take a work team to Radal, Chile,. the intention is to add a new timber-frame structure to the lo¢al church there. lo include a Church HalllSL¢nday School Room plus male and female loilels. The Iruslees, annual report was approved on 2 September 2025 and signed on behalf of the board of trustees by.. Mrs D Hall Trustee
GOSPEL MISSION OF SOUTH AMERICA Independent Examiner's Report to the Trustees of GOSPEL MISSION OF SOUTH AMERICA Year ended 31 December 2024 I report to the trustees on my examination of the financial statements of GOSPEL MISSION OF SOUTH AMERICA I'the charity'l for the year ended 31 December 2024. Responsibilities and basis 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 Acri. I report in respect of my examination of the charity's financi81 slalemenls carried out under section 145 of the 2011 Act and in earrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examlner's statement I have completed my examination. l eonffrm that no material matters have come to my attention in connection with the examination giving me eause to believe that in any material respect." accounting records were not kept in respect of the charity as required by section 130 of the Act., or the financial stslements do not accord with those records., or the financial slalements do not comply with the applicable requirements concerning the form and conlenl of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than any requirement that the accounts give a 'true 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 connects'on with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accoun15 to be reached. cc. Catherine Crudden ACA Independent Examiner 23-25 Darling Street Enniskillen Co Fermanagh United Kingdom BT74 7DP 2 September 2025
GOSPEL MISSION OF SOUTH AMERICA Statement of Financial Activities Year ended 31 December 2024 2024 Unrestricted funds Totsl funds Total funds 2023 Income and endowments Donations and legacies Investment income 51.019 471 51,019 471 82,843 139 Total income 51.490 51,490 82,982 Expenditure Expenditure on charitable activities Other expenditure Total expenditure 46,502 7.118 46,S02 7,118 53.620 75,493 928 53,620 76,421 Net (expendlturellincome and net movement in funds 12,1301 (2,1301 6,561 Reconcillation of funds Total funds brought forward Total funds carried fonvard 40,182 40,182 33,621 38,052 38,052 40,182 The stslement of financial activities includes all gains and losses recognised in the year. l income and expenditure derive from continuing activities. The notes on pagès 9 to 14 form part of these financial ststements.
GOSPEL MISSION OF SOUTH AMERICA Statement of Financial Position 31 December 2024 2024 2023 Note Current assets Cash al bank and in hand 38,052 40,182 Net current assets 38,052 40,182 Total assets less current liabilities 38.052 40,182 Funds of the charity Restricted funds Unrestricted funds 137 40,045 38,052 Total charity funds 13 38,052 40,182 These financial statements were approved by the board of Iruslees and authorised for issue ort 2 September 2025, and are signed on behalf of the board by.. Mrs D Hall Trustee Thè notss on pages 9 to 14 form part of these financlal statements.
GOSPEL MISSION OF SOUTH AMERICA ststement of Cash Flows Year ended 31 December 2024 2024 2023 Cash flows from operating activities Net lexpendilurellincome 12.130) 6.561 Adjustments for.. Other interest receivable and similar income 1471) 12,601) 11391 6,422 Cash generated from operations Interest received 471 139 Nel cash (used inllfrom operating actNilies {2.130} 6,561 Net Idecrease)Ilnerease in cash and cash equivalents Cash and cash equivalents at beginning ofyear Cash and cash equivalents at end of year {2.130} 40,182 38.052 6,561 33,621 40,182 The notes on pages 9 to 14 forni part of these financial statements.
GOSPEL MISSION OF SOUTH AMERICA Notes to the Financial Statements Year ended 31 December 2024 General information The charity 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. statement of compliance These financial 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 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP {FRS 102}l and the Charibes Act 2011. Accounting policies Basls of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial 8ssels and liabilities and investment properties measured at fair valLJe through income or expenditure. The financial statements are prepared in sterling, which is the fiJnction81 currency of the entity. Going concern There are no material uncertainties about the charity's ability to eonlinue. Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements r4uires management lo make judgements, estimates and assumptions th8t affeet the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other f8clors, including expectations of fiJlure events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unreslricled funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes.. restricted Income funds or endowment funds.
GOSPEL MISSION OF SOUTH AMERICA Notes to the Financial Statements (contlnued) Year ended 31 December 2024 Accounting policies {¢ontinued) Incoming resources All incoming resources are included in the slalemenl of financial activities when entillemenl has passed to the charity," il is probable that the economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement lo the gift, receipt is probable and its amount can be measured reliably. legacy income 15 recognised when receipt is probable and entiuemenl is established. income from donated goods is measured al the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and seTV1$ are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of servi$ is recognised with the delivery of Ihe contracted service. This is classified as unrestricted funds unless there is a contractual requirement for il lo be spent on a particular purpose and returned if unspent, in which ease il may be regarded as reslricled. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the stslement of financial activities to which il relates.. expenditure on raising funds include5 the costs of all fundraising aclivilies, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activib'es includes all costs incurred by a charity in undertaking actsvities that further ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories fleCtIng the use of the resource. Direct costs attributable to a single acb'vity are allocated directly to that activity. Shared costs are apportioned between the acts'vilies they contribute to on 8 reasonable, justifiable and consistent basis. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty lo the contractual provisions of the instrument. Basic financial instruments are initially recognised al the amount CeiVable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 10-
GOSPEL MISSION OF SOUTH AMERICA Notes to the Financial Ststements (contrnueLI) Year ended 31 December 2024 Accounting pollcles (wntinued) Financial instruments (eontinued) Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured al fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other ftnancial inslrumenls, including derivatives, are initially recognised at fair value, unless payment for an asset Is deferred beyond normal business terms or financed al a rate of interest that is not a market rate, in which case the asset Is measured al the present value of the future payments discounted at a market rale of interest for a similar debt instrument. Other financial inslTuments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, wrth the exception of hedging instruments in designated hedging relationship. Financial assets that are measured al cost or amortised cost a reviewed for objective evidence of impairment at the end of each reporting dale. If there is objects've evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the ba81$ of similar credit risk characteristics. Any reversals of impairment are ognIsed immediately, to 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 previously been recognised. Defined contrlbution plans Contributions lo defined contribution plans are recognised as an expense in the period in which the related service Is provided. Prepaid contributions are recognised as an asset lo the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to 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 discount is recognised as an expense in the period in which it arises. Donations and legacles Unrestricted Funds Reslricled Total Funds Funds 2024 Donations General Fund Gift aid tax Project- Camp Piruque. Chile 49,204 1,815 49,204 1,815 51,019 51,019 11
GOSPEL MISSION OF SOUTH AMERICA Notes to the Financial Statements (¢on&nued) Year ended 31 December 2024 Donations and legacles (contlnoed) Unrestricted Funds Restricted Total Funds FLJnds 2023 Donations General Fund Gift aid tax Project- Camp Piruque, Chile, 46,905 2.798 46,905 2,798 33,140 33,140 33,140 49.703 82,843 Investment income Unrestricted Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Bank interest received 471 471 139 139 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Activity type 1 SupFX)rt costs 2.660 43.842 2,660 43,842 46,502 46.502 Unrestricted Funds Restricted Total Funds Funds 2023 Activity type 1 Support costs 42,490 33,003 75,493 75,493 42,490 33,003 Expenditure on charitable activities by activity type Activib'es undertaken directly Support costs Total funds 2024 Total fund 2023 Activity type 1 Activity type 2 Activity type 5 Governance costs 2,660 2,660 3,750 679 39,413 46,502 3,750 679 39,413 3.600 33.003 38.890 2.660 43,842 75.493 12-
GOSPEL MISSION OF SOUTH AMERICA Notes to'the Financial Statements (continued) Year ended 31 December 2024 Analysis of support costs Anatysis of support costs activity 1 Total 2024 Tol812023 Staff costs 32.960 32,960 31.688 other expenditure Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Travel & accomodalion costs 7,118 7,118 928 928 10. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Employer contributions to pension plans 33,584 2,036 35,620 29,772 1,916 31,688 The average head count of employees during the year was 1 12023.. 1). No employee received employee benefits of more than £60,000 during the year12023'. Nill. 11. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the Iruslees 12. Pensions and other post retlrement beneflts Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,03612023'. £1,916). 13-
GOSPEL MISSION OF SOUTH AMERICA Notes to the Financial Ststements (wntlnuedj Year ended 31 December 2024 13. Analysls of charltable funds Unrgstricted funds At 1 January 202 At 31 Decèmber 2024 Income Expenditure General Fund 40,182 51,490 (53,620) 38.052 At 1 January 202 At 31 December 2023 Income Expenditure General Fund 33,621 49,842 143,4181 40,045 14. Analysis of net assets between funds Unreslricled Total Funds Funds 2024 Current assets 38,051 38,051 Unreslricled Total Funds Funds 2023 Current assets 40,045 40,045 15. Analysis of changes in net debt At Al 1 Jan 2024 Cash flows 31 Dec 2024 Cash at bank and in hand 40.182 12,1301 38.052 14-