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2021-03-31-accounts

INTERNATIONAL MISSION TO JEWISH PEOPLE (FORMERLY CHRISTIAN WITNESS TO ISRAEL)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Company number: 01254746 Registered charity number: 271323 Scottish charity number: SC041720

INTERNATIONAL MISSION TO JEWISH PEOPLE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Contents Page
Report of the Council of Management 1 – 5
Statement of Council’s Responsibilities 6
Independent Auditor’s Report 7 - 10
Statement of Financial Activities 11
Comparative Statement of Financial activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the accounts 15 - 27

INTERNATIONAL MISSION TO JEWISH PEOPLE

REPORT OF THE COUNCIL OF MANAGEMENT

ADMINISTRATIVE INFORMATION

International Mission to Jewish People (the Society), formerly Christian Witness to Israel, is registered in England as a company limited by guarantee and not having share capital. (Registration Number 1254746). The Society is also registered as a charity in England and Wales. (Registration Number 271323) and in Scotland (registration Number SC041720).

The following served as members of the Council of Management (trustees) during the year and to the date of signing the report.

Rev P Morris Chairman Mr R I Haffenden Dr J E Harpur Ms M Huey (appointed 17 September 2020) Ms R Matherson (appointed 17 September 2020) Rev B Midgley (appointed 1 June 2020) Dr T Rucinski (appointed 3 December 2020) Rev J Watterson

Rev P Williams

Members of the Council are also members of the company and as such, are liable to contribute £1 to the assets of the Society in the event of its being wound up. The key management personnel of the Society are Chief Executive Officer, Joseph Steinberg and Director of Operations, Henk Gouws and the Director of Ministry, Richard Gibson.

PROFFESIONAL ADVISORS:

Critchleys Audit LLP HSBC

Beaver House 23-38 Hythe Bridge Street 184 High Street Bromley

Oxford Kent

OX1 2EP BR1 1HL

INVESTEMENT ADVISORS INSURANCE BROKERS Brewin Dolphin Securities Ltd WRS Limited

5 Giltspur Street Cadman House, off Peartree Road London Stanway, Colchester EC1A 9BD C03 0NW

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INTERNATIONAL MISSION TO JEWISH PEOPLE

REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)

SOLICITORS

Wellers

65 Leadenhall Street

London

EC3A 2AD

The Society submits its report and financial statements for the year ended 31 March 2021. The report is a combined trustees’ and directors’ report.

The financial statements have been prepared in accordance with the requirements of the Companies Act 2006, the Charities & Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and Financial Reporting Standard 102.

OBJECTIVES AND ACTIVITIES

The main objective of the Society as outlined in the governing document is the advancement of the Christian faith, principally to Jewish people.

In order to further its objectives, the Society has promoted the Gospel of Jesus Christ and has provided the support for Jewish Christians. Its employees have corresponded with enquirers; alleviated hardship; conducted Bible studies; engaged in research; written, published and distributed Christian literature; and have promoted the cause of Jewish evangelism through preaching and teaching. These policies have been consistently applied throughout the year under review with no changes being implemented since the previous report.

In selecting these policies, the trustees have considered the Charity Commission’s general guidance on public benefit. The Society has provided public benefit by adhering to its objectives and carrying out the activities to in their report. The advancement of the Christian religion by making the Christian message known and in particular to Jewish people as widely as possible, both in the UK and overseas, brings spiritual, moral and practical benefits.

GRANT MAKING POLICY

Grants are made to organisations which support the aims of the Society, in particular, grants are made to HaGefen to support publishing of evangelistic material in Israel and to Jews for Jesus to fund missionary activity outside of the UK.

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INTERNATIONAL MISSION TO JEWISH PEOPLE

REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)

ACHIEVEMENTS AND PERFORMANCES

The Society has continued to fulfil its object of the advancement of the Christian faith principally among Jewish people through direct evangelistic projects and endeavours, and by encouraging churches to share the Good News of Jesus with Jewish people and support the work of the Society.

Evangelism was conducted by encouraging and supporting missionaries in the United Kingdom, Israel, United States of America, Hong Kong, China, Canada, Netherlands, France, Hungary, Australia, Korea Republic of Ireland, Brazil and the Ukraine. Staff, Council and associate workers represented the Society at churches and Christian events.

The global pandemic created a challenge and opportunity for the International Mission to Jewish People to think beyond the traditional ways to reach the constituency of supporters – whether they be churches, trusts or individuals.

Due to the lockdown of 2020 and 2021, churches were closed and had to move to ‘online’ services and because of this, the mission lost all of the in-person church deputation tours and meetings. As a result of this the focus moved into finding new ways to get the message out and keep the activity in front of the eyes of the supporters who need to know that the pandemic was giving the mission more opportunities than ever to share the Good News of Jesus with Jewish people.

International Mission to Jewish people began to engage with Christians online through social media, a refreshed website, and online meetings via Zoom. The missionaries began (and continue) to provide weekly reports and stories, regular videos and quarterly newsletters in order to keep current supporters engaged and help recruit new supporters. No staff were put on furlough and the missionaries were so busy with the spiritual concerns of their contacts, the mission had plenty to share with the constituents and this even created opportunities to participate in radio interviews and online news reports.

As the lockdowns continued, International Mission to Jewish People began to host online events, both in the UK and overseas, which were relevant to the mission’s work. With the establishment of regular online meetings, the supporters can participate in a live presentation hosted by the missionaries with a question-and-answer session at the end. These have also proven to be very successful and popular with the supporters.

This past year has also seen the mission begin to engage with new churches and new strategic church leaders. As a result, a new programme has been created which will seek to enlist new Churches and individuals to advocate, pray, and support the work of the mission. The space created by lockdowns has been used to get this programme designed and implemented for 2021-22.

Along with all these new initiatives has come the hard work of better utilising the database by making sure it is up to date, by correcting old church data and adding new churches the mission is seeking to engage with. The better utilisation of the data of individuals created better communications to the supporters of the mission with specific needs and interests.

3

INTERNATIONAL MISSION TO JEWISH PEOPLE

REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)

We are encouraged by how far we have come in such a short time under so much pressure. We thank God for his help and wisdom and trust him for our future service to his cause.

MISSIONARY STAFF TRAINING.

Continuous training took place for all office staff and missionaries throughout the financial year.

PROMOTION.

Staff represented the Society at Christian events in the UK, the United States, the Far East, Europe, Israel and in China by electronic media.

FUNDRAISING

International Mission to Jewish People used a number of different publications to inform supporters of the on-going mission work of the Society, the results from activities that they support and the insight into Jewish sensitivities and culture. These publications included ‘The Herald’, individual prayer letters and appeals. These continue to build partnerships with supporters bringing in both prayer and financial support for the continuing work of the Society.

FINANCIAL REVIEW

The Society has seen an overall increase in income in the year under review. The main source of funding for the Society continues to be donations received from supporters. A number of specific appeals and projects were run during the year and these were very successful. The Society is grateful for the giving of its supporters and also for those who remember the Society in their wills. The deficit for the year before investment gains was £103,128 (2020: deficit of £98,863). The overall surplus was £123,680 (2020: deficit of £249,329) after investment gains of £226,808 (losses of £150,466).

INVESTMENTS

The Society’s Memorandum of Articles of Association authorise the Council to invest surplus funds, not immediately required for the purposes of the Society in such investments as may be considered appropriate. Investment decisions are taken on the basis of advice from the Society’s advisors, Brewin Dolphin, who are aware of the policy to protect both income and capital and the investment practise should not be ethically inconsistent with the Society’s Christian status.

RESERVES POLICY

Much of the Society’s reserves are reflected in property which is required to enable the Society and its overseas undertakings to carry out their activities.

The Society has total funds of £3,749,764 at the end of the year (2020: £3,626,084). £217,478 of those funds were restricted and a further £1,337,231 were unrestricted. This leaves £2,195,055 in designated funds of which £1,495,055 is kept in a Property Fund, which represents the Society’s investment in property. £500,000 is kept in a Restructuring Reserve Fund which is required to enable the Society to fund a programme of restructuring over a 5 year period in order to ensure its future operations will deliver effective ministry for the

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INTERNATIONAL MISSION TO JEWISH PEOPLE

REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)

foreseeable future. Another £200,000 is held in a Missionary Housing Loan fund to help and assist some of the Society’s missionaries with loans to buy suitable property as a base for their ministry.

The Society has net working capital of £17,265 after taking account of the restricted and designated funds set out above.

RISK ASSESSMENT AND MANAGEMENT

The Council maintains a risk register which is reviewed to highlight significant threats to the work of the Society and action is taken to manage the risks identified.

STRUCTURE GOVERNANCE AND MANAGEMENT

The Society is a company limited by guarantee, governed by its Memorandum and Articles of Association. Members of the Council are appointed by members of the company at the Annual General Meeting. At each Annual General Meeting one third of the members of the Council retire from office but are eligible for re-election. New Council Members are formally inducted when appointed. Council members and staff receive various and different training and support during the year from Global Connections, Civil Society and other training and support structures.

The Society is managed by CEO and senior management to meet the policies, goals and direction as set by the Council of Management. The salaries of the Society staff are reviewed annually.

STATEMENT OF COUNCIL’S RESPONSIBILITIES

The trustees, who are the directors of International Mission to Jewish People for the purposes of Company Law, are responsible for preparing their report and the accounts in accordance with applicable law and the United Kingdom Generally Accepted Accounting Practice (UKGAAP).

Company law requires the Council to prepare accounts for each financial year which give a true and fair state of affairs of the society and of the surplus or deficit of the Society for that period. In preparing those accounts, the Council is required to:

The Council is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Society and to enable them to ensure that the accounts comply with the Companies Act 2006.They are also responsible for safeguarding the assets of the Society and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

5

INTERNATIONAL MISSION TO JEWISH PEOPLE

REPORT OF THE COUNCIL OF MANAGEMENT (CONTINUED)

DISCLOSURE OF INFORMATION TO AUDITORS

In so far as the Council are aware, there is no relevant audit information of which our auditors (Critchleys LLP) are unaware and that the Council has taken all the necessary steps to make the Society aware and or the auditors aware of any relevant audit information and to establish that the auditors are aware of that information.

Approved by the trustees and authorised for issue on 2021 and signed on their behalf by:

R I Haffenden

Trustee

P F Morris Trustee

6

Independent auditor’s report to the trustees of International Mission to Jewish People

Opinion

We have audited the financial statements of International Mission to Jewish People (the “Charity”) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the cash flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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 our other ethical responsibilities 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 relating to going concern

In auditing the financial statements, we have concluded that the director’s use of the going concern 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 charit’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report 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.

7

Independent auditor’s report to the trustees of International Mission to Jewish People (continued)

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 obtained in the audit or otherwise appears to be materially misstated. If we identify such material 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 this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the Councils’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they 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 or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under Section 144 Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 error, and to issue an auditor’s 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 (UK) 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.

8

Independent auditor’s report to the trustees of International Mission to Jewish People (continued)

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assessed the susceptibility of the charitable company’s financial statements to material

misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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 noncompliance 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.

9

Independent auditor’s report to the trustees of International Mission to Jewish People (Continued)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Critchleys Audit LLP is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Use of our report

This report is made solely to the Charity’s members, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Critchleys Audit LLP (Statutory Auditor) Beaver House, 23-38 Hythe Bridge Street, Oxford, OX1 2EP Date 22 October 2021

10

International Mission to Jewish People Statement of Financial Activities For the year ended 31 March 2021 (including Income and Expenditure Account)

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
4
Other income
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total
Net gains/(losses) on investments
14
Net income / (expenditure) before transfers
Transfers between funds
17
Net income / (expenditure) for the period
Net movement in funds
Reconciliation of Funds
Funds brought forward at as at 31 March 2020
Funds carried forward at as at 31 March 2021		 Unrestricted
Restricted
Designated
Total
Funds
Funds
Funds
2021
£
£
£
£
679,169
432,110
-
1,111,279
63
-
-
63
83,595
-
-
83,595
-
-
-
-
762,827
432,110
-
1,194,937
112,870
45,024
-
157,894
663,659
465,021
11,491
1,140,171
776,529
510,045
11,491
1,298,065
256,808
-
(30,000)
226,808
243,106
(77,935)
(41,491)
123,680
36,187
113,813
(150,000)
-
279,293
35,878
(191,491)
123,680
279,293
35,878
(191,491)
123,680
1,057,938
181,600
2,386,546
3,626,084
1,337,231
217,478
2,195,055
3,749,764		 Total
2020
£
1,041,092
1,296
98,284
-
1,140,672
142,928
1,096,607
1,239,535
(150,466)
(249,329)
-
(249,329)
(249,329)
3,875,413
3,626,084

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

International Mission to Jewish People Statement of Financial Activities For the year ended 31 March 2020 (including Income and Expenditure Account)

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
4
Other income
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total
Net gains/(losses) on investments
14
Net income / (expenditure) before transfers
Transfers between funds
17
Net income / (expenditure) for the period
Net movement in funds
Reconciliation of Funds
Funds brought forward at as at 31 March 2019
Funds carried forward at as at 31 March 2020		 Unrestricted
Restricted
Designated
Total
Funds
Funds
Funds
2020
£
£
£
£
603,047
438,045
-
1,041,092
1,296
-
-
1,296
98,284
-
-
98,284
-
-
-
-
702,627
438,045
-
1,140,672
87,614
55,314
-
142,928
548,372
548,235
-
1,096,607
635,986
603,549
-
1,239,535
(150,466)
-
-
(150,466)
(83,825)
(165,504)
-
(249,329)
(1,980,153)
93,607
1,886,546
-
(2,063,978)
(71,897)
1,886,546
(249,329)
(2,063,978)
(71,897)
1,886,546
(249,329)
3,121,916
253,497
500,000
3,875,413
1,057,938
181,600
2,386,546
3,626,084

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

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International Mission to Jewish People Statement of Cash Flows For the year ended 31 March 2021

----- Start of picture text -----
2021 2020
£ £
Cash flows from operating activities
Net cash provided by/(used in) operating activities (186,458) (181,964)
Cash flows from investing activities
Dividends, interest and rents from investments 83,595 98,284
- -
Proceeds from sale of property, plant & equipment
Purchase of fixed assets (4,576) (1,070)
Cash movement in investments 1,506 (19,318)
Proceeds from sale of investments 102,758 92,795
Purchase of investments (95,474) (63,340)
Cash provided by investing activities 87,809 107,351
- -
Cash flows from financing activities
Change in cash and cash equivalents in the reporting period (98,649) (74,613)
Cash and cash equivalents as at 31 March 2020 948,285 948,285
Cash and cash equivalents as at 31 March 2021 849,636 873,672
Cash used in operating activities
2020 2019
£ £
Net income/(expenditure) 123,680 (249,329)
Dividends, interest and rents from investments (83,595) (98,284)
Depreciation 14,630 13,983
Amortisation 1,200 1,200
(Gains)/losses on investments (226,808) 150,466
- -
Gain on disposal of fixed assets
-
(Increase)/decrease in debtors (8,971)
-
Increase/(decrease) in creditors (6,594)
- -
(Increase)/decrease in stock
(186,458) (181,964)
----- End of picture text -----

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

1 Statement of Accounting Policies

A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below.

General information and basis of Preparation

International Mission to Jewish People is a charitable company in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102 section 1a. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and UK Generally Accepted Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income, after any performance conditions have been met. The amount can be measured reliably and it is probable that the income will be received.

Donations

For donations to be recognised the donation will have been received or the charity will have been notified of the amounts and the settlement date in writing.

Legacies

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed

Investment income

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Other Income

Other income includes gains on disposals of tangible fixed assets.

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

1 Statement of Accounting Policies (continued)

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Costs of raising funds

This includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities

These are costs incurred on the charitable activities, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 7.

Intangible Fixed Assets

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows: Computer software 5 years

Provision is made for any impairment.

Tangible Fixed Assets

Assets costing £1,000 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment. Cost includes costs directly attributable to making the asset capable of operating as intended.

It is the charity's policy to maintain its properties in a state of good repair. In the case of domestic and office properties it is considered that the residual values and lives of the properties are such that any depreciation charge would not be significant. Therefore, no depreciation is provided.

Depreciation is provided on all other tangible fixed assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:

er its expected useful life, as follows:
Leasehold improvements 5 years
Office equipment 5 years
Fixtures, fittings and equipment 10 years

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

1 Statement of Accounting Policies (continued)

Liabilities

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Financial instruments

Financial instruments are recognised when the charity becomes party to the contractural provisions of the instrument.

Basic financial assets, which include debtors and bank balances, are initially measued at transaction price including transaction cost and are subsequently carried at amortised cost using the effective interest methos unless the arrangement consititutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement consititutes a financing transaction, where the debt instrument is measured at te present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Creditors and provisions are recognised where the charity has a present obligation arising from a past event thta will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount. Financial liabilities are derecognised when the charity's contractural obligations expire or are discharged or cancelled.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Leases

Rentals under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

Investment properties

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains / (losses) on investments’ in the SoFA.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening the deposit.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

Endowment funds represent those assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

2 Income from donations and legacies

Donations
Legacies		 Total
2021
£
1,046,044
65,235
1,111,279		 Total
2020
£
932,041
109,051
1,041,092

The income from donations and legacies was £1,111,279 (2020: £1,041,092) of which £679,169 (2020: £603,047) was unrestricted and £432,110 (2020: £438,045) restricted.

3 Charitable activities

Sale of books and DVDs Total
2021
£
63
63		 Total
2020
£
1,296
1,296

All income from charitable activities was unrestricted in 2021 and 2020.

Income from listed investments
Rental income
Interest receivable
Other income
Profit on sale of tangible fixed assets
All income from investments was unrestricted in 2021 and 2020.		 Total
2021
£
33,595
46,829
3,171
83,595
Total
2021
£
-
-		 Total
2020
£
41,448
48,807
8,029
98,284
Total
2020
£
-
-

Other income was £Nil (2020: £nil) of which £Nil (2020: £nil was unrestricted).

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

6 Raising funds

Portfolio management
Property repairs and maintenance
Direct Costs
Allocated Support costs
Staff costs		 Total
2021
£
6,229
5,236
51,568
44,277
50,584
157,894		 Total
2020
£
10,155
2,789
47,417
38,427
44,140
142,928

Expenditure on raising funds was £157,894 (2020: £142,928) of which £112,870 (2020: £87,614) was unrestricted and £45,024 (2020: £55,314) restricted.

7 Analysis of expenditure on charitable activities

Charitable activities
Ministry		 Support
Total
costs
2021
£
£
£
£
£
112,726
480,559
9,339
537,547
1,140,171
112,726
480,559
9,339
537,547
1,140,171
Staff costs
Other costs
Grant
making		 Total
2020
£
1,096,607
1,096,607

Expenditure on charitable activities was £1,140,170 (2020: £1,096,607) of which £675,149 was unrestricted (2020: £548,372) and £465,021 restricted (2020: £548,235).

Support costs
Governance
Wages and salaries
Staff costs support
Premises and infrastructure
Legal and professional
Other		 Total
2020
5,312
30,100
35,412
-
286,648
286,648
5,115
28,983
34,098
9,578
54,277
63,855
10,293
58,325
68,618
13,979
79,214
93,193
44,277
537,547
581,824
Raising
funds
Ministry		 Total
2019
33,825
250,129
35,696
57,342
45,344
83,976
506,312

Net income/(expenditure) for the period includes:

Operating lease rentals
Depreciation
(Gain)/loss on disposal of fixed assets
Amortisation of intangible fixed assets
Exchange losses
Fees payable to auditor for:
Audit		 2021
£
36,036
14,630
-
1,200
13,422
8,850		 2020
£
36,354
13,983
-
1,200
691
8,650

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

8 Governance costs

Auditor's remuneration
Staff costs
Council meetings
Analysis of grants payable
£
£
Ministry
100,000
-
100,000
Recipients of grants to institutions:
Institution A Institution B
£
£
-
-
Staff Costs
Staff costs during the period were:
Wages and salaries
Social security costs
Defined contribution pension costs
.
Ministry
Support and administration
Support
costs
Grants to
institutions
The average number of persons employed by the charity during the period was as
Total redundancy /termination payments amount to £Nil (2020: £nil).		 £
12,726
12,726
£
-
HaGefen
Publishing,
Israel
Grants to
individuals
follows:		 Total
2021
£
8,850
26,292
270
35,412
Total
2021
£
112,726
112,726
Total
2021
£
-
2021
£
742,576
45,906
52,049
840,531
2021
No.
5
8
13		 Total
2020
£
8,650
22,070
3,105
33,825
Total
2020
£
103,743
103,743
Total
2020
£
-
2020
£
649,219
47,416
39,040
735,675
2020
No.
8
11
19

9 Analysis of grants payable

10 Staff Costs

The disclosure of staff costs and employee numbers includes information relating to individuals who work for the charity but whose contracts of employment are with another charity. The charity reimburses the employment costs relating to these individuals

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2021 2020 No. No. £60,001 - £70,000 1 -

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

11 Trustees' and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the year (2020: £Nil).

The total amount of employee benefits (including employer pension contributions and employer NI contributions) received by key management personnel for their services to the charity was £181,194 (2020: £153,896).

No travel and subsistence expenses were paid to any trustees during the year (2020: £1,215 paid to 2 trustees).

12 Intangible fixed assets

Cost
Additions
As at 31 March 2021
Amortisation
Charged in period
As at 31 March 2021
Carrying amount
As at 31 March 2021
As at 1 April 2020
As at 1 April 2020
As at 31 March 2020		 Computer
Software
£
6,000
-
6,000
(3,600)
(1,200)
(4,800)
1,200
2,400		 Total
£
6,000
-
6,000
(3,600)
(1,200)
(4,800)
1,200
2,400

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

13 Tangible fixed assets

Investment
Plant and
Properties
machinery
Cost
£
£
-
-
Additions
-
-
Disposals
-
-
As at 31 March 2021
-
-
Depreciation
-
-
Charges in period
-
-
Eliminated on disposal
-
-
As at 31 March 2021
-
-
Net book values
As at 31 March 2021
-
-
-
-
The net book value of land and buildings comprised:
Land and buildings:
Freehold
Leasehold improvements
Fixed asset investments
Cost or valuation
£
As at 1 April 2020
-
Additions
-
Disposals
-
Cash movement
Revaluation
-
As at 31 March 2021
-
Carrying amount
As at 31 March 2021
-
As at 31 March 2020
-
Investments at fair value comprise:
Equities and securities
Cash within investment portfolio
As at 1 April 2020
As at 1 April 2020
As at 31 March 2020
Mixed motive
investments		 Freehold
Leasehold
Fixtures and
Property
Property
Fittings
£
£
£
479,436
33,486
62,062
-
-
4,576
-
-
-
479,436
33,486
66,638
(9,588)
(26,788)
(52,832)
(4,793)
(6,698)
(3,139)
-
-
-
(14,381)
(33,486)
(55,971)
465,055
-
10,667
469,848
6,698
9,230
2021
£
465,055
-
465,055
465,055
£
£
£
-
1,060,000
1,060,081
-
-
95,474
-
-
(102,758)
-
(1,506)
-
(30,000)
256,808
-
1,030,000
1,308,099
-
1,030,000
1,308,099
-
1,060,000
1,060,081
2021
£
1,279,319
28,780
1,308,099
Listed
investments
Investment
properties
Other
investments
 Total
£
574,984
4,576
-
579,560
(89,208)
(14,630)
-
(103,838)
475,722
485,776
2020
£
469,848
6,698
476,546
476,546
Total
£
2,120,081
95,474
(102,758)
(1,506)
226,808
2,338,099
2,338,099
2,120,081
2020
£
1,029,797
30,284
1,060,081

14 Fixed asset investments

Listed investments

The fair value of listed investments is determined by reference to the quoted price for identical assets in an active market at the balance sheet date.

Investment properties

Investment properties were valued by the trustees based on the value of similar properties in the relevant areas and information provided by the letting agents for the properties.

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

15 Debtors

Other debtors
Prepayments and accrued income
Long term loans		 2021
£
1,655
8,971
105,000
115,626		 2020
£
1,655
-
105,000
106,655

Loans made to individuals are for the benefit of the charity, securing key personnel to enable the charity to carry out its charitable activities and are due after more than one year.

16 Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Other creditors		 2021
£
7,898
10,731
11,890
30,519		 2020
£
11,901
13,072
12,140
37,113

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

17 Funds

Restricted general funds
Amos
Israel Missionaries
Lan
Outreach events
Relief
Scholarship
Hagafen
Other
Designated funds
Restructuring Reserve fund
Missionary Home Loan fund
Property fund
Unrestricted funds
Unrestricted funds
Total funds		 Balance at
1 April
Other gains
2020
Income
Expenditure
or losses
Transfers
£
£
£
£
-
27,799
(48,956)
-
21,157
47,026
67,492
(164,500)
-
49,982
-
41,388
(41,368)
-
-
72,493
-
-
-
-
5,210
2,500
-
-
-
56,871
-
-
-
-
-
57,326
(100,000)
-
42,674
-
235,605
(155,221)
-
-
181,600
432,110
(510,045)
-
113,813
650,000
-
-
-
(150,000)
200,000
-
-
-
-
1,536,546
-
(11,491)
(30,000)
-
2,386,546
-
(11,491)
(30,000)
(150,000)
1,057,938
762,827
(776,529)
256,808
36,187
1,057,938
762,827
(776,529)
256,808
36,187
3,626,084
1,194,937
(1,298,065)
226,808
-		 Balance at
31 March
2021
£
-
-
20
72,493
7,710
56,871
-
80,384
217,478
500,000
200,000
1,495,055
-
2,195,055
1,337,231
-
1,337,231
3,749,764

Restricted funds represent donations received in respect of specific areas of work of the charity, defined either by specified missionaires, geographic area of work, or type of ministry, as indicated by the title of the fund.

The Restructuring fund represents the resources required to fund a programme of restructuring which the charity is undertaking over an 5 year period in order to ensure its future operations will deliver effective ministry for the foreseeable future.

The Missionary Home Loan Fund represents funds allocated to assist certain missionaries purchase homes where they are not otherwise able, in areas which are strategic to deliver the ministry of the charity.

The Property Fund represents the charity's investment in property which is either used in the course of its work or are former properties of this nature which is held as a short term investment pending sale.

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

18 Analysis of net assets between funds

Fund balances as at 31 March 2021 are represented by:

Fixed assets
Current assets
Current liabilities
Investments
Total net assets		 Unrestricted
Restricted
Designated
funds
funds
funds
£
£
£
11,867
-
465,055
47,784
217,478
700,000
(30,519)
-
-
1,308,099
-
1,030,000
1,337,231
217,478
2,195,055		 Total
funds
£
476,922
965,262
(30,519)
2,338,099
3,749,764

Fund balances as at 31 March 2020 were represented by:

Fixed assets
Current assets
Current liabilities
Investments
Total net assets		 Unrestricted
Restricted
Designated
funds
funds
funds
£
£
£
11,630
-
476,546
23,340
181,600
850,000
(37,113)
-
-
1,060,081
-
1,060,000
1,057,938
181,600
2,386,546		 Total
funds
£
488,176
1,054,940
(37,113)
2,120,081
3,626,084

International Mission to Jewish People Notes to the financial statements For the year ended 31 March 2021

19 Commitments under operating leases

Operating leases

At as at 31 March 2021 the total of the charity's future minimum lease payments under non-cancellable operating leases was:

Amounts due within one year
Amounts due between one and five years		 2021
£
9,289
840
10,129		 2020
£
36,316
10,129
46,445

20 Contingent liabilities

There are no contingent liabilities that require disclosure.

21 Members liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

22 Related party transactions

No member of the Council of Management received any remuneration during the year (2020: £nil).

The charity received £nil (2020: £1,625) in unrestricted donations from Council Members and £nil (2020: £nil) in restricted donations.

£40,000 within long term loans debtors is owed to the charity by Joseph Steinberg, a member of key management personnel. The loan is secured against property, and market rate interest is being charged.