Charlty reglstratlon number 271323 (England and Wales) Chorlty regSstratlon number SC041720 (Scotlandl Company registrotion number 01254746 (England and WaleB} INTERNATIONAL MISSION TO JEWISH PEOPLE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 INTERNATIONAL MISSION TO JEWISH PEOPLE LEGAL AND ADMINISTRATIVE INFORMATION Truyt••s Rev B Mi(Jgley MS M Huey Ms R Matherson Mr R Haffenden Dr T Ruanski Rev J Watlerson Rev P Williams Charity numbèr (England and Wales) 271323 Chofity number Iscodandl SC041720 Company numbèr 01254746 Regi#t•red office 1 Oasis Pafi( Stanton Harcourt Road Eynsham Oxfordshire OX29 4TP Audltor Crilehleys Audit LLP Bèaver House 23-38 Hythe Bridgè Street Oxford OX12EP Bank•rs HSBC 184 High Street Biomley Kenl BR11HL Solicitor¥ Wellers 65 Leadenhall Street London EC3A 2AD Investment advisors Brewin Dolphin Securities Ltd 5 Giltspur Street London EC1A9BD Insurance brokers WRS Limf(ed Cadman House, off Peartree Road Slanway, Colchesler C03 ONW INTERNATIONAL MISSION TO JEWISH PEOPLE CONTENTS Page Trustees, rgp Statsmenl of tru8lees' fosponsitslities IndeperKlent auditor's report Stalement of financial activit*$ 9-10 Balance sheet 11 statement of cash flows 12 Notes lo the finandal statements 13-28 INTERNATIONAL MISSION TOJEWISH PEOPLE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The Iruslees present their annual report and financial ststements for the year ended 31 M8rd12023. The financial statements have been prepared in accor(18n(* with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming doojment, the Companies Act 2006, the Charities and Trustee Investrnenl IScotlatKII Acl 2005, the Charities Accounts (Scotlandl Regu18tions 2006 18S amended) and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their counts in accordanee wbth the Financial Rèporting Standard applicable in the UK and Republic of I￿land IFRS 1021 leffective 1 January 20191. Objectlves and a¢tl¥ltSes The main objective of the Charily as ouilined in the goveming document is the advancement of the Christian fatth. principally to Jèwish people, In order to further ils objectives, the Charity has promoted the Gospel of Jesus Christ and has provlded the support for Jewish Christians. Its employees have corresponded with enquirers.. a116viated hardship.. wnducted Bib stud￿5,. engaged in research", written, published and distributed Christian literature,. and have promoted the rause of Jewish evangelism through preaching and leaching. These poliaes have been consistently applied IhroughoLrt the year under review with no changes being implem&nled slnce the prevlous report. In selecting thèse poliaes, the trustees have conSKleTed the Ch8ri1y Commission's gengr81 guidance on public benefit. The Charty has provided public benefit by adhering to its objectives and carying out the activities to in Iheii report. The advancement of the Chiistian religion by rn8king the Christian message known and In particular lo Jewish people as w￿elY as possible, both in the UK and oveiseas, brin98 splritual. moral and pi8Ctiixl benefits. Grant maklng pollcy Grants are made to organisalions which support the 8ims of the Charf(y, In parlicular. gr8nts are made lo HaGÈfen to support publishing of evangelislie material in Israel and to Jews for Jesus to fund missionary 8ctNity outside of the UK. A¢hl•vements and perfomiance The Charity has continued to fulfil its object of the advancement of the Christlan faith pn'ncipally among Jewish people through direct evangelistic projects and endeavours. and by encour8ging churches to 8h8re the Good News of Jesus with Jewish people 8nd support the work of the Charity. Evangelism was conducted by encouraging and supporting missionaries in the United Kingdorn, Israel, United States of America, the Netheilands, France, Hung8ry, Australia, Brazil. Ukraine and Moldova. Staff, Countil and associate workers represenled the Charity al churches and Christian events. In the Cities Global Outreaches.. In the wak8 ol the global pandèmic, the mission decided to work a more flexible outreach strategy to create publidy reengage with the cities where they ère active by having Ihe missionaries run local oulr8aches using volunleei5. This programme ran through the year and enabled tho mission to cover all centres of minlstry wthoul the nèed to cross national borders. These outreaches helped us to bulld up better evangelistic engagement through I￿81 Churches, gave the missionaries more10¢81 volunteers lo work Wblh and grew their missionary case108ds. Thè mission proceeded wrth missionary tours in Scotland. England, Wales and Ireland with a big increase in 8rranged church meetings and a positive growth on the database for incre8sed ¢ommunication about the missions, actNities. Along with 811 these new inilialives has come the h8rd work of beller utilising the database by makitwJ sure il 18 UP to date, by correcting old church data and adding new churches the mission is seeking to engage with. The belter utslisation of the data of individuals created better communications to the supporters of the mission w¢th specffje needs and inlere51s. We are encouraged by how far we have corne in such 8 short lime under so much prgs$ure. We thank God for his help and wisdom and tru61 hbm for our fvlure service to his cause. INTERNATIONAL MISSION TO JEWISH PEOPLE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 MiB$lonary staff training Conkn'nuous Iiaining took place for all office 8t8ff and missionaries throughout the financial year, Promotion Staff represented the Charity at Christian events in the UK. the United Sl8les, the Far East, Europe, Israel and in China by electronlc media. Inlemalion81 Mission lo Jèwish People used a number of different publications lo inI￿rn supporters of the on-going mission work of ihe Chafily, the resutts from activities that they support and the insight into Jewish séns1tNlt￿S and Ilure. These publications included 'The Herald., individual prayer letters and appeals. These continue to build partnerships with supporters bringing in both prayer and financial support foi the continuing work of the Charity. Financial review The Chairty h88 seen an overall increase in income in the year under review. The main source ol fvnding lor the Ch8Fily continues to b$ donalions receivgd from supporters. A number of specific appeals and projects were wn during the year and th8se were very successful. The Charity is grateful foi the giving of its SUPPOrters and also for Ihose who remember the Charity in their will$. The deficii for the year before investment losse8 was £206,972 {2022.' deficit of £222,872). The overall deficit was £286,64712022.. deficit of £46,68518fter inveslrnenl losses of £79,67512022." gains of £176,187). Much of the Chai(ty s reserves are rgflected in property which is required lo enable the Charfty and its ovorseas urKlertakings to carry out their activities. The Charity has lolal funds 01 £3,416.432 at the end of the year12022.' £3.703,0791. £344,523 of those funds were restricted and a further £1,582.119 were unrestricted. This 188vés £1,489,790 in designated fund5 of which £1,089,790 is kept in a Property Fund, which represents the Charity's investment in property. £200,WO is kept in 8 Restructuring Reserve Fund whieh is required to enable the Charity lo fund a progiamme ol restructLJring over a 5 year period in order lo ensure its future operations will deliver effective ministry lor the foreseeable future. Another £200,000 is held in a Missionary Housing Loan fund lo help and assist some ol the Charity s missionaries with loans to buy suitable property as a base for their ministry. The Charity has nel working capital of £134.393 after taking account of the reslricied and designated lunds sel out above. The Charity's reseNes policy is lo maintain availabl& resetves in excess of 4 months ex￿nditUre. Structure, governanc• and managemènt The Charily is a cornpany limited by guarantee, govemed by its Mernorandum and Articles of AssociatK•n. Members of the Council are appointed by member$ of the company al the Annual General Meeting. Al each Annual General Meeting one Ihiid of the members of the Counril retire from office but are eligible foi ieélection. New Council Members are formally inductèd when appointed. CouncAI members and staff receive various and different training and support during the year from Global Conneetlons. Clvil Socjely and other training and SLtpport stfuctures. The Charity is managed by CEO and senior rn8nagement to meet tho policies, goals and direction as Sat by the Council ol Management. The solaries of thè Charity siaff are rev￿ed annually. The trustees, who are also the directors foi the purpose of company law, and who served during the year and up to the date of sign*ure ol the financial statemen18 were.. Rev P Morris IResigned B June 2￿23) Rev B Midgley Ms M Huey Ms R Malherson Mr R Haffenden Dr T Rucinski Rev J Watterson Rev P Williams INTERNATIONAL MISSION TO JEWISH PEOPLE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Rlsk assessmont and management The Council mainl8ins a risk register which is reviewed to hlghlighl significant threats lo the work of the Chafity ond a¢tk)n is taken lo manage the risks idèntified. Auditor In accordance with the company's articles, a resolution proposing thal Critchleys Audit LLP be reappointed as auditor of the company wlll be put at a General Meeting. Disclosure of infomiation to audltor Each of Ihg trustees has ¢[￿fI￿ed that there is no infomiation of whlch Ihey are awa￿ which is relevant lo the audrt, but of whlch the auditor is unaware. They have further confirtned Ihal they have taken appioprfote steps lo Identify such I8￿￿ant information and to establish that the auditor 18 aware ol such information. The tmstees. re￿Ort was approved by the Board of Trustees. Rev É Midglèy Tru8iee Mr R Haffenden Trustee Date.. J..J .1. f INTERNATIONAL MISSION TO JEWISH PEOPLE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The trustees, who are also the directors of International Mission lo Jewish People for the purpose of company law, artr ￿Sponsible fof preparing Ihe Trustees, Report and the financial stslemenls in accoidance with applic8tJe law and United Kingdom Accounting Standards (United Kingdom Gènerally Accepted Accounting Pract￿e}. Company Law require5 the trustees to prepare financial statements for each financial year which give a true and fair view of the State of affairs ol th& charity and of thè incoming resources and application of resources, induding the incorne and $xpendilure. of the charitable ¢x)mpany for that year. In preparing these financial statern8nl$, the trustees are required to.. select suitable accounting policies and then apply them conslstentty.. obseTve the Meth￿1$ and prinuples in the Charities SORP.. makejudgements and estimates that are reasonable and prudent., state wh8lh¢r applicable UK Accounting Stsndards have been followed, subject to any materi81 departures di$closed and exp18ined in the finan￿al statements., and prepare the finanual statements on the 90in9 concem ba318 unless it is inatjpropriate lo presume Ihal Ihe d￿r((Y will contsnue in operation. The truslees are responsible for keeping adequate accounting records that disc108e with reasonablè accuracy al any time the finanual posrtion of the charity and enable them to ensui8 that the finan￿81 statements comply with the Companies Act 2006, the Charities and Ttustee Investment Iseotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006 la3 8mendedl. They are also responsible for safeguarding the assets of the charty and hence forlaking reasonable steps for ihe pievention and deleclion of fraud and other irregularities. INTERNATIONAL MISSION TO JEWISH PEOPLE CRITCHLEYS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF INTERNATIONAL MISSION TO JEWISH PEOPLE Oplnlon We have audited the finan¢i81 $18temenls of Inlernalional Mission lo Jewsh People Ithe'charity'l for the year $nded 31 March 2023 which comprise the statement ol financial Bctwities, th8 b81ance sheet. the slalement of cash flows 8nd notes to the financial slatements, including significant accounting policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounling Stsndards, including Financial Reporting Standard 102 The Fin8ft¢iAI Reporting standa￿ applicable in the UK and RepublA¢ ol Ireland Iunrted Kingdom Generally Accepted Accounting Practice). In our opinion, the financial siatements.. give a true and fair view of the state of the ￿aritable company's affairs as at 31 March 2023 and of its incorning resources and appli¢alon of resources, including its income and expenditure, for the year then ended.. have been properfy prep8red in accLJrdance wilh United Kingdom Generally A¢¢eptsd Accounting Pra¢fjce', and have been prepared in accordance wlh Ihe requirement$ of the Companiès Acl 2006, the Charities and Trustee Investment (Scotland) Act 2CK15 and regulation 8 of the Chalil￿S Account$ {Scotland} Regulations 2CM)618s amended). Basls for oplnion We conducted our audit in accordance with Internal¢ona1 Siandards on Auditing IUKI {ISAs IUKII 8nd applicable law. Our responsibilities un(kr those standards 8re further described in the Audilorfs responsibilities for the audit of the fin&ncial sl8tement$ Section of our report. We are independent ol the charty in accordance with the ethical requiretnenls that are relevant to our audit ol the financial statements in the UK, in¢luding the FRC'S Elhiral Standard, and we have fulfilled our tsther ethical responsibilities in acc(Tridance with these requirements. We txliève that the audit evidence we have obtained is sufficient and appropriate lo provide a basis foi our opinion. Conclusions relating to going con¢orn In auditing the financial slalements, we have conduded that the Iruste&s' use of Ihe going concem basis of ccounling in thè preparation of the financial statements is appropriate. Based on the work we h8ve perfomied, we h8ve not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charlty's ability to conlirsue as a gosng concein for a period ol at least Iwelve month5 frorn when the fin8nci81 statements are 8ulhorised for issue. Our responsibilities and the responsibilities of the ttustees with respect to going concern are described In the relevant sections of this report. othèr Inforniation The other inforrnalion comprises the infomation included in the annual rfyport other than the finaneial stalemenls and our auditor's report Ihereon. The trustees are ressxjnsible for the other information contained within the annual report. Our opinion on the financial staternenls does not cover the other information and, except lo the extent olhenmse explici14y stated in our report, we do not express any form of assurance conclusion Iheieon. Our responsibility is to read the other information and, in doing so, consider wh&ther the other information is materially inconsistent with the financial statements or our knowledge obtained in the CQLJrse of the audit, or otherwise appears to be malerialty misstated. If we identify such material inconsistencies or apparent material mi5s181ements, we are required to determine whether this gives rise lo a material misstatement in th8 financial statements themselve5. If. based on the work we have performed, we condude that there is 8 material misstslement of this other infomation, we ale reqUI￿d lo report that fact. We have nothing to report in this r￿ard. INTERNATIONAL MISSION TO JEWISH PEOPLE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF INTERNATIONAL MISSION TO JEWISH PEOPLE OplnSons on othor matterB preserlbèd by the Companies Act 2006 In our oplnion, based on the work undertaken in the course ol our audit.. the information given in the trustees, report for the financial year for which the financrdl stslements are prepared. which includes the directors, report prepared for the purposes of company law, is consistent with the financial sl8lements', and the directors. rèport included within the trustees. report has been prèpared in accordance with appIl￿ble legal requirements. Matters ¢)n whlch we arè requlred to report by exceptlon In the light ol the knowledge and understanding ol the charily and its environment obtained in the course of the audit, we have not idenlthed material mi5s1819ments in the directors, report induded within the trustees. report. We have nothing to report in respeci of the following malters in ielalion to which the Companies Act 2fY)6 and the Charlties A￿ountS IS¢otland) Regulations 2006 las amfyndedl require us lo report lo you if, In our opinion.. adequate and proper accounting records have not been kept, or rglums adequate for our audit have not been received frorn branches not visited by us,. or the financial stalemen15 8rè not in agreement with the acLounting records and returns., or certain disclosur$s of trustees, remuneration specjfied by law are nL)I made,. or we have not received all the infomiation and explanations we require for our audit., or the Irusteeg were not entitled to prepafe the financial Statements in accordance wilh the small companies regime and tske advantage of the small companies, exemptions in preparing the Iwstees. report and from the requirement to prepare a strategie report. Responslbllltle6 of trust888 As explained mole fully in the stslemant of trustees, responsibilities, the trustees, who are also the directors of the charity for the purpose ol company law. aTe responsible for the preparation of the financial statements and foi boing satisfied that they give a true and fair view. and for such internal control as the tiustees determine is necessary lo enable the p￿paratIOn of financial statements that are free from material misstatement, whethèr due to fraud or error. In preparing the financi81 statements. the trustees are iesponsible for assessing the charity's ability lo continue 88 8 going concem, disclosing. as applicable, matter8 related to going concern 8nd using the goirvJ concem basis ol accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic altefnalive but to do so. Auditorfs responsibllities for the audit of the financlal statemerts We have been appointed as auditor under section 44{1llcl of the Charitie$ and Trustee Investment (Scotlandl Act 2W5 and under the Companies Act 20(￿ and report in accofdanco with the Aets and relevant regulations made or having effe¢t Ih&reuThJer. Our objectives a￿ lo obtain reasonable assurat￿e about whether the financial statements as a whole are flee from material misstaternenl, whelher due lo fraud or erfor, and to issue an auditorfs report that indudes our opinion. Reasonabl8 assuran￿ is a high level of assurance but is not 8 gu8ranle8 that an audit conducted in accord8n¢e with ISAS IUKI will a￿ayS dele¢t a material misstatement when il exists. Misstatements can arise from fraud or error and are considered mateiial if, individu8lly or in the aggreg81e, they could reasonably be expected to influence the economic decisions of users taken on the ba8is of these financAal statements. Th8 extènt to which our prO￿d￿re$ are capable of detecting iiwu&rities, includlng fraud, is detailed below. INTERNATIONAL MISSION TO JEWISH PEOPLE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS AND TRUSTEES OF INTERNATIONAL MISSION TO JEWISH PEOPLE Our approach to id8ntfying and assessing the risks of material rni$statement in re8pe¢t of irregularities, Includlng fr8ud and non-complianee with laws and regul81ion$, was as follows.. ihe engagement partner ensured Ih8t the engagement le8m collectivety had the appropriate comp8lenc8, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations., we identif￿d the laws and regulations applicable to the company Ihitsugh discussions with directors and other management, and from our kno￿edge and experience., we focused on specifi¢18ws and regulations which we considered m8y have a direct rn8terial effect on the financial stalements 01 the (4)erations of Ihe company. we assessed the extent of Ix)mplianTr with the laws Bnd regulations identified abovè through making enquiries of managemen( and inspecting legal correspondènce where appI￿able", and identified laws and regulations were communicated within the audit team regularfy and the le8m remained aletllo ins18n￿$ of non-compli8n¢e throughout the audit. We 8$sessed the 8Us¢eplitMIty ol the comp8ny'$ financial statements to malerial misstatement, including oblainlng an understanding of how fraud might occur, by.. making enquiiies ol management as lo where they considèred there was Susceptibility lo fraud, their knowledge of actual, Suspected and alleged fraud", eonsidering the internal controls in pl8¢e lo mitigale risks of fraud and non-compliance with laws and regul¥lions', and To address the risk olfraud Ihiough management bias and override ofcontrols, we.. perforrned analytical Procedures to identsfy any unusual or unexpected r6lationships', tested joum81 entries lo identify unusual transact￿5., assessed whether judgements and assumptions m8de in determining the accounting eslim81$s were indicative of potential bias,. and investigated th8 rationale behind significant oi unusual Iransaetions. In response to the risk of iiiegularities and norFcompliance with laws and regulation$. we desiqned procedures which Included, bul wefe not limited to.. agreeing ffinancial statement disclosures lo undedying supporting docLmental*)n', reading the minute8 of meetings of those charged with govern8nca'. enquiring of management as to actual and potential litigatK*n and d8ims', • reviewing relevant correspondence. There a￿ inherent limitations in our aud¢t procedures described above. The more removed Ihal laws and regulations are from financial transactions. the less likely it is that we would become aware of non-complian￿. Auditing standards also lirnit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and th8 inspection of Tegulatory and legal correspondence, if any. Materi81 misstatements that arise due to fraud can be harder to delecl than those that arise from error as Ihey may involve deliber81e concealment or colluslon. A knrther description of our responsibilit185 is available on the Financsal Reporting Council's website 8t-. https.'Il www.frGorg.uklaudilorsresponsibililies. This description fofrns part of our audilof s report. INTERNATIONAL MISSION TO JEWISH PEOPLE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS AND TRUSTEES OF INTERNATIONAL MISSION TO JEWISH PEOPLE Use of our r¢port This report is made solely to the charf(8ble company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to Ihe regulation 10 of the Charities Accounts Iscotlandl Regulations 2006. Our audit work has been undertaken so that we might state to the charitable comp8nys members and trustees those matters we are required lo state to them in an auditor's report and for t70 other purpose. To the fullest extent pemitled by law. we do not accept or assume responsibility to anyone other than the charitable company, the charitable company's members as 8 body,and the ch8itsble company's trustees as a body, for our audit work, lor this report, Of foi the opinions we have fom8d. Katherine Wllkes Isenior Statutory Auditor) for and on behalf of Crltchleys Audit LLP 1111123 Chartered Accountsnts Statutory Auditor Bgaver House 23-38 Hylhe Bridgè Street Oxford OX12EP INTERNATIONAL MISSION TO JEWISH PEOPLE BALANCE SHEET ASA T31 MARCH 2023 2023 2022 as reBtsts¢ Fixed ass8ts Tangibleasse15 Investment propeties Investments 12 13 14 353,290 745.￿0 1,439,226 354,485 1,175,339 1,330,096 2,537,516 2.859,920 Current assets Deblois Cash at bank and in hand 15 193,277 732.461 123,351 756,511 925,738 879,882 Creditor¥'. ¥mounts falllng du• wlthln one year 16 146,8221 136.7031 Net current assets 878.916 843,159 Totsl a$s•ts less current IlabllltSes 3,416,432 3.703.079 Incomé funds Rtrslricted funds Designated funds Unrestricted funds 18 19 344,523 1.489,790 1,582,119 297,210 2,070,129 1,335,740 3,416,432 3,703,079 The 2023.'b8 nce sheet has been restated to reflect a ch8nge in allocatrjn between funds. See note 25 for detslls. ly Th9fjiri8n¢i I statements were Bpproved by the Trustees on . Rev B Midgley Trustee Mr R Haffenden Trustee Company wl8tratSon numbar 01254746 INTERNATIONAL MISSION TO JEWISH PEOPLE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Nrt8s Cash flows from opèrating activities Cash absorbed by opgratK)ns {293.859} 1162.880} Investing actlvltSes Purchase of tangible fixed asse18 Proceeds from sale of irnie81ments Movement of investrnent loans and re￿1Vable8 Purchase of other inveslmenis Cash movement in investments Investment income ￿￿1Ved 11,6641 s(￿,630 11,5801 121,770 153,0921 I253,0(￿) 112,0301 82,971 19,3411 (1(6,8861 16,0331 71,825 Net cash ganèrnted from inv•sting activities 269,809 69,755 Net cash used in financing a¢tivities Net de¢rèase In cash and ¢ash equivalents 124.0501 193,1251 Cash and cash equivalents at beginning ol year 756,511 849.636 Cash and cash equivalonts at end of y￿r 732,461 756,511 12- INTERNATIONAL MISSION TO JEWISH PEOPLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Aeeounting pollcl88 Charity infom)ation International Mission to Jewish People is a private company limited by guar8nlee incorporated in England and Wales. The ￿gIStered office is 1 Oasis Park, Stanton Harcourt Road, Eynsham. Oxfordshire. OX29 4TP. 1.1 Accounting eonvention The financial statements have been prepared in occordarKe with the charity's governing document, the Companies Act 20(￿. the Charities and Trustee Investment (Scotlandl Act 2005. the Charities Accounts (Scotlandl Regulalions 20[￿ la5 amended), FRS 102 'The Fin8ndal Reporting Stsndard applicable in the UK and Republic of Ireland I'FRS 102.1 and the Charities SORP 'A¢coLJnting and Reporting by Charities.. Statement ol Recommended Piaclice applicable lo charEties preparing their accounts in aecordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 20191. The charity is a Public Benefit Entity a$ defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slalements are roundod to the nearest £. The financial statements are prepared on a going concein basis under Ihe historical cost convention, modified lo indude certain items at fair value. Thè financial slaletnents are p￿pared in sterling which is the functional currency of the charity. 1.2 Golng conc8m At the litne of approving the financial stalements, the trustees have a reasonable expectation that the d)arity has adequatè resources lo continue in operational existen￿ for the foreseeable future. Thus the trustees continue lo adopt the going ¢oncem basis of accounting in preparing the financial statements. 1.3 Charitsblg fund8 Unrestricted funds are available for use al the discretion of the trustees in furtheran￿ of the general obje&￿e$ of the charity and which have not been designaled for other purpo58S. Designated funds comprise unTestricted fund8 tt)al have been sel aside by th8 trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial staiements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by d¢>nors or which have been raised by the charity lor particular purposes. The cost of raising and administering such funds are chaiged against the spÈ(ific fund. The aim and use of each restricled lund is set out in the notes to the financial statements. 13- INTERNATIONAL MISSION TO JEWISH PEOPLE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcl•B (contin￿dI 1.4 Income All incoming resources are included in the Statement ol Financial Activilies ISOFAI when the charity i$1ogally entitled to the income, alter any performance ￿nditionS have been mel. The arntsunt can be measured reliably and il is probable that the income will bo received. Donatlon FOT donations lo be recognised the donation will have been received or the charity will have been notified of the amounts and the settlement date in writing. Legacies For legacies, entltlement is Ihe ts8r1￿r of the charity being nolified of an impending dislribthbon or the legacy being received. At this point income is recognised. On occasion legacies will be notified lo th6 charity however it is not possible to measure the amount èxpected to be distributed. On Ihgse occasions. the legacy is treated 8$ a contingent asset and disclosed. Invèstment Incom• Investment income is 98med through holding assets for investment purposes such as shares and piopèrty. It includes dividends, interest and rent. Where il 1$ not practicable to identify inveslmfynt management cost5 incuried within a scheme with reasonable accur8cy the investment income is rewrted net of these costs. 11 is included when the amount can be measured reliably. Interest income is re¢ognised using th8 8ffective interest method and dividend and rent income is r¢cognised as the charily's right lo receive payrnent 13 established. othgr income Othei income includes 98ins on disposals of tsngible fixed assets. 1.5 EX￿ndItUre All expenditure 15 8eeounted for on an accruals basis and has been clas$ified under headin9S that aggregate all costs related to the ¢ategory. Expendituie is ￿CogniSed whère there is a legal or constructive obligatitsn to make payments lo Ihiid parties, it is probable that the settlement will be required and the amwnt of the obligation can be measured ieliably. It is categorised under he foll¢)wing headings.. Cost of rdising funds This inclvdes #ll expenditure incurred by the chaTty lo raise funds for its charitable purptsses and includes co81$ of all fundraising 8thMties even18 8nd nonn the following bases.. Freehold land and buildings Le8sehold land and bulldings Fixtures and fittings 5 years 5 years 5-10 years A review for impairment of a fixed 8sset is carr￿d OLrt il events or changes in circumstances indicate that the C8Trying value ol any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed a8sets and their recoverable amounts are recognised as impairmenls. Impaitmenl losses are re¢ognised in the Sl8lement of Financi81 ActThiities. 1.7 Investsnont property Investment properties are measured at fair value al Èach reporting date with changes in fair value recognised in 'net gains I Ilossesl on investrnents, in the SOFA. 1.8 Fixed asset Investmèr Investments are iecognised inrtially 81 fair value which Is normally the transaction price oxcluding transaction costs. Subsequently. Ihtry are measured at fair value with changes recognisèd in 'net gains I Ilossesl on investmènts. in the SOFA if the shares are publidy traded or their fair v8lue can othe￿1$8 be meaSU￿d reliably. 1.9 Cash and cash equlvalgnts Cash at bank and in hand includes cash and short lerrn highly liquid investments with a Short maturity of three rnonths or less from the date of opening the deposit. 15- INTERNATIONAL MISSION TO JEWISH PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollcles IContlnuBdl 1.10 Financial instrnments The charity has elected lo apply the provi8ion$ ol Section 11 'Basic Financial In8lTuments' and Section 12 'Olher Finanaal Inslrurnents Issues, of FRS 102 to all of its fin8ncial instruments. Financial in$lnJments are recognised in the charity's b818nce sheet when thè charity be￿rneS paty to the Conlractual piovisions of the inslfument. Ba$le flnanclal assets Basic financial a5sels, which include debtors and bank balanc6s, are initially me8sued at trans8clion price induding transaction rx)st and are subsequently carried at amortised cost using the effective interest methos unless the airangement consititules a financing transactK)n, where the transaction is measured at the present value of the future receipt8 diswunted at a market ratè of interest. Impaimient of finanelal assets Assets not measured at lair value are reviewed foi any IndicatDn that the asset may be impalred at each balance sheet date. If such indic81ion exists, the rtrcoverable amount of the asset, or the Asset's cash generating unil, is èstimated and compared to he C8fry1ng amount. Where the carrying amount exceeds its recoverable 8tnount. an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impalrment loss is a revaluation decrease. Basic financlal Ilabililies Basic financial liabilities, including creditors are inilkglly recognised at 118nsaction price unless the arrangemeni constitutes a ffinancing transaction, where the debt instrument is measured at the present valuè of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Creditors and provisions are r&ctsgnised where the d)arity has a pie$ent obligation arising from a past event that will probably result in the transfer ol funds to a third party and the amount due to settle the obligation can be measured or estimaled reliably. Creditors and provisions are rtt¢ognised at their settlement amount. Financial liabilities are derecognised when the charitys Contractual obligations expire or are disch8rged or cancelled. 1.11 Taxatlon The charlty is an exempl charity within the rne8ning of schedule 3 of the Charities Act 2011 and is considèred to pass the lesls set out in Paragraph 1 Schedule 6 Fin8n¢e Act 2010 and thgrèfore it meets the definition of a charitable company for UK corporation lax purposes. 1.12 Employee benefits When employees have rendered Service to the charity, short-temi employe¥ benèfits to which th6 employees are enlilled are recogniseil 81 the undiscounled amount expected lo be paid in exchange for that service. 1.13 Retir¢m•nt benefits The charily operates a defined contribution p18n for the benefit of Its employees. Contributions are expensed as they become payable. 16- INTERNATIONAL MISSION TO JEWISH PEOPLE NOTES TO THE FINANCIAL STATEMENTS (cor￿ INUED FOR THE YEAR ENDED 31 MARCH 2023 Crltlcal ac¢ountlng èstlmates and judg•m8nts In the application of the charity's accounting policigs, the trustees 8re required to make judgements. estirnales and assumplion5 about the carrying amount ol assets and liabilities that are not readily 8pparent from othèr sources. The estimates 8nd associated assumptions are based on histor￿31 experience and other factors that are considered to be relevant. Actu81 r8sults may differ from these estimates. The estimates and underlying a88umptions are Teviewed on an ongoing basi5. Revisions to 8ccounting estimates are recognised in the period in which the estimate is Tevised where the revision affects only that period, or in the period of the revision and future period8 where the revision affects both current and future periods. The significant judgements induded in these financial slat8rnents relate to valuation ol investrnenls and investment properties. Crltlcal ludgem•nts Depreciation F1xed assets are depre