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2024-12-31-accounts

THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

TRUST INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees Mr D G M Callicott Mr G R Johnstone Mr I D Mears Dr D S Taylor Mrs S J Smith Charity office 34 Sweyn Place London SE3 0EZ Charity no. 261957 Independent examiner John Oswald BA FCA Stephenson Coates Audit Limited Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD Solicitors Downs 156 High Street Dorking Surrey RH4 1BQ Bankers Barclays Bank PLC. Leicester LE87 2BB

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THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their report along with the financial statements of the charity for the year ended 31 December 2024.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Foreign Missionary Fund is constituted by a deed of trust dated 5 November 1970 and is a registered charity (number 261957).

The address of the Charity is 34 Sweyn Place, London, SE3 0EZ.

The trustees who served during the year are set out below. Appointment of trustees is governed by the trustees of the charity. The board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.

Mr I D Mears Dr D S Taylor Mrs S J Smith

Mr G R Johnstone Mr D G M Callicott

OBJECTIVES AND ACTIVITIES

The objective of the charity is to advance the Christian religion by supporting both individual missionaries and the work they are involved in which is carried out by the Christian Community of Brethren. The charity does not seek to control or direct; the activities are the responsibility of the missionaries, many of whom are nationals, and those they work with locally. How they pursue the charity’s objective – advancing the Christian religion – is very much up to the workers on the spot and the charity sees its role as supporting activities which are already in existence. Part of the support is paying for medical treatment of workers and their families. A small proportion of the support is also for retired missionaries.

The charity employs no staff and the affairs of the charity are under the direct control of the trustees.

The trustees hold four meetings a year for the purpose of considering the needs of the work in various areas of the world and allocating the funds available. Funds are received by way of gift and are allocated to support the work going on in various areas of the world at the discretion of the trustees.

There has been no change in the objectives and activities of the charity since the last annual report. By its very nature – evangelism and spiritual and material support of national Christians – assessing success is generally difficult or inappropriate. However, there are areas where numbers are significant such as education, housing orphans, the distribution of Bibles and other Christian literature, and providing and repairing buildings but the trustees do not issue strategies or targets. The trustees tend to respond to needs reported by the workers whom the Fund supports rather than set out strategies and projects; those on the spot have a much better idea of what is best than trustees on the other side of the world.

Those supported keep in contact by sending reports on their activities, not for the purposes of maintaining financial support but more for prayers – see ‘Brief Reports’ below. Despite the caveats above, there is generally an increase in activity and effectiveness year on year. The short and long term aims and objectives are to continue the support described above but also to increase expenditure generally on these activities. We shall also be in contact with similar funds in other countries to see if we can usefully support their activities.

It will be seen that this way of working does not really make for assessing performance. However, where it becomes apparent that individuals we have been supporting are not actually doing much or anything at all, they are dropped from our list. Generally, this is preceded by a period where communication from workers has already ceased.

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THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

TRUSTEES’ REPORT (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2024

ACHIEVEMENTS AND PERFORMANCE

During the year, gifts received from assemblies and individuals, and from legacies and trusts, together with investment income totalled £78,524.

Support for missionary work in the year was provided by way of gifts totalling £265,817.

Four issues of a magazine, ‘Brief Reports,’ were produced during the year in order to provide information about, and to stimulate interest in, the work of the missionaries. The magazine is made available free of charge to individuals and assemblies of the Christian Community of Brethren in the UK.

The Travel Funds are funds designated by the Trustees to meet travel costs arising in connection with approved visits to fields of service overseas. There were no payments made during the current year.

In setting our objectives and planning our activities, the trustees have regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.

FINANCIAL REVIEW

There was net expenditure on unrestricted funds in the year, before investments movement, of £194,180 (2023: net expenditure £59,892).

At 31 December 2024 undesignated free reserves amounted to £389,670 (2023: £588,743); £241,790 of these reserves are held by investment managers to provide investment income for the charity.

INVESTMENT POWERS

The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of its financial activities for the year. In preparing those financial statements generally accepted accounting practice entails that the trustees:

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THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

TRUSTEES’ REPORT (Continued)

FOR THE YEAR ENDED 31 DECEMBER 2024

STATEMENT OF TRUSTEES’ RESPONSIBILITIES (continued)

The trustees are required to act in accordance with the Trust Deed and the rules of the Trust within the framework of trust law. They are responsible for keeping proper accounting records which are sufficient to show and explain the Trust’s transactions and to disclose with reasonable accuracy at any time the financial position of the Trust, and to enable them to ensure that any statements of account comply with the requirements of the Charities Act 2011. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Trust and to prevent and detect fraud and other irregularities.

APPROVAL

This report was approved by the trustees on 29 October 2025 and are signed on their behalf by:

I.D. Mears Trustee

34 Sweyn Place London SE3 0EZ

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

I report to the trustees on my examination of the accounts of The Foreign Missionary Fund of the Christian Community of Brethren for the year ended 31 December 2024, which are set out on pages 6 to 10.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). You consider that the audit requirements of section 144 of the 2011 Act do not apply and that an independent examination is required.

Having satisfied myself that the accounts are not required to be audited, I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER’S STATEMENT

I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

(1) accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

John Oswald BA FCA Stephenson Coates Audit Limited Chartered Accountants

West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD

29 October 2025

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THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2024

INCOME FROM:
Donations and legacies:
From Assemblies and Individuals
Philippines School
Legacies and Trusts
Investments:
Investment income
Total income
EXPENDITURE ON:
Raising funds
Investment management fees
Charitable activities(note 2)
Missionary support and
distributions for specific purposes
Administration costs
Total expenditure
Net income/(expenditure) for
the year
Net gains/(losses) on
investments
Profit/(Loss) on disposal of
investments
Net gains/(losses) on revaluation of
investments
Transfer between funds
Net movement in funds
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
funds
£
63,210
5,354
-
9,960
78,524
2,672
265,817
4,215
272,704
(194,180)
15,216
(20,109)
-
(199,073)
593,556
394,483		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2024
£
63,210
5,354
-
9,960
78,524
2,672
265,817
4,215
272,704
(194,180)
15,216
(20,109)
-
(199,073)
593,556
394,483		 Total
2023
£
45,685
6,755
126,068
10,036
188,555
2,171
242,024
4,252
248,447
(59,892)
(7,476)
3,849
-
(63,519)
657,075
593,556

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THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
FIXED ASSETS
Investments
3
CURRENT ASSETS
Debtors
4
Bank accounts:
Current accounts
Deposit accounts
LESS CURRENT LIABILITIES:
Accruals
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
FUNDS
5/6
Restricted fund
Unrestricted funds:
General purposes
Designated travel		 2024
£
241,790
241,790
7,838
140,742
5,606
154,186
(1,493)
152,693
394,483
-
389,670
4,813
394,483		 2023
£
244,395
244,395
4,775
344,283
846
349,904
(743)
349,161
593,556
-
588,743
4,813
593,556

Approved by the trustees on 29 October 2025 and signed on their behalf by:

I.D. Mears Trustee

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THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost unless otherwise stated. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.

The Charity constitutes a public benefit entity as defined by FRS 102.

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

1.2 Income

Voluntary income and donations are accounted for as received by the charity. Donations received on behalf of specific persons and needs are forwarded direct to those specified and are not included in the statement of financial affairs. Legacies received in the form of investments are included at their market value on the date of receipt.

1.3 Expenditure

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis. Expenditure on charitable activities includes grants payable and support costs.

Grants payable are:

1.4 Investments

Investments are a form of basic financial instrument and are initially recognised at their cost and subsequently measured at fair value as at the balance sheet date using the closing quoted market price.

The Statement of Financial Activities includes the unrealised gains and losses arising on revaluation of investments held at the year-end and the realised gains and losses on disposals throughout the year.

The Fund has an agreement with their brokers on how its investments should be handled. They do not purchase on the Fund’s behalf any shares in companies involved in defence or armaments, tobacco, alcohol, gambling, or payday lending. The Fund has instructed the brokers to select investments which provide a mixture of dividend returns and growth, with an avoidance of anything deemed to be risky.

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THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (Continued)

2. CHARITABLE ACTIVITIES


Unrestricted
funds
£
Missionary support and distributions
for specific purposes
Remittances to Missionaries
265,817
Philippines School
-
265,817
Administration costs
Bank charges and exchange differences
843
Provision of Brief Reports
1,915
Independent examiner's fees
750
Sundry costs
707
4,215		 Restricted
fund
Total
£
£
-
265,817
-
-
-
265,817
-
843
-
1,915
-
750
-
707
-
4,215		 2023
£
242,024
12,000
242,024
1,079
2,302
747
124
4,252

There were no employees during the year and therefore no delegation of duties or responsibilities; and there was no remuneration paid.

No remuneration directly or indirectly out of the funds of the charity was paid or is payable for the year to any trustee or to any person or persons known to be connected with any of them. No reimbursement of travel expenses incurred in attending meetings has been made during the year (2023: £Nil).

3. INVESTMENTS

Market value at 1 January 2024
Additions
Disposals
Change in market value
Market value at 31 December 2024
Historical cost at 31 December 2024		 2024
£
244,395
81,719
(64,215)
(20,109)
241,790
282,349		 2023
£
237,203
103,875
(100,532)
3,849
244,395
265,309

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THE FOREIGN MISSIONARY FUND OF THE CHRISTIAN COMMUNITY OF BRETHREN

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (Continued)

4. DEBTORS

DEBTORS
Gift aid recoverable 2024
£
7,838
7,838		 2023
£
4,775
4,775

5. FUNDS

Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects. Certain of these funds have been designated by the trustees as travel funds to meet travel costs arising in connection with approved visits to fields of service overseas.

6. ANALYSIS OF NET ASSETS BETWEEN THE FUNDS

Tangible fixed assets
Investments
Net current assets		 Unrestricted funds
General
Travel
Specific
£
£
£
-
-
-
241,790
-
-
147,880
4,813
-
389,670
4,813
-		 Restricted
fund
Restricted
fund
£
-
-
-
-

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