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2021-12-31-accounts

Charity Registration No. 279759

SHARING OF MINISTRIES ABROAD (SOMA UK)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

SHARING OF MINISTRIES ABROAD (SOMA UK)

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Revd. Canon P Whitworth
Ms J Brown
Mr B Hampson BFP FCA
Revd. S Home Appointed 17 March 2022
Mrs M MacInnes
Revd. W Massey Appointed 17 March 2022
Ven. K Roberts Appointed 17 March 2022
Mr D C Rowe
Charity number 279759
Principal address 295 Chiswick High Road
Suite 132
London
W4 4HH
Independent examiner Roger Wheeler B.Sc Econ
1 Farrar Drive
Marlborough
Wilts
SN8 1TP
Bankers CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

SHARING OF MINISTRIES ABROAD (SOMA UK)

CONTENTS

Page
Trustees' report 1 ‐ 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 ‐ 17

SHARING OF MINISTRIES ABROAD (SOMA UK)

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report and financial statements for the year ended 31 December 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Trust Deed, the Charities Act 2011 and “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 UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The charity's objects are to advance the Christian Religion through the sharing of God‐given gifts and spiritual resources. The Trustees are called to facilitate the exchange of ministries of evangelists and speakers on spiritual renewal from one country to another, to nurture communication between those called to spread spiritual renewal and to share resource materials and experience. The policies adopted in furtherance of these objects are to work for the transformation of individuals and churches and the healing of communities and their lands through the renewing power of the Holy Spirit.

This is done through Intercession, Prayer and sending short‐term Mission Teams across the Anglican Communion. There has been no change in these policies during the year.

Mission Statement:

SOMA works for the transformation of individuals and churches and the healing of communities and their lands through the renewing power of the Holy Spirit by sending and receiving teams worldwide on short term missions. SOMA’s call is to “care for the nervous system of the Body of Christ”.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Contained within this overall umbrella of public benefit are the individual and specific benefits of equipping people for mission both in the UK and abroad; contributing to community health, development, justice and civil society by equipping the human resources of the Dioceses and Provinces receiving our Mission Teams; and providing opportunities for those interested to understand more about the Christian faith; contributing to the individual and corporate awareness of overseas religious, poverty, development and human rights issues; equipping those receiving Mission Teams, and the members of the Mission Teams, with skills in leadership which can be transferred into public life.

SOMA UK is a constituent part of the international group of SOMA bodies currently operating in eight countries/regions (Australia, Ireland, New Zealand, Nigeria, Singapore, South Africa, UK and USA).

SHARING OF MINISTRIES ABROAD (SOMA UK)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and performance

In 2021 SOMA UK maintained a network of intercessors, a group of parish mission partners, and registers of volunteer team leaders and team members (UK and overseas). To carry out the charity’s activities SOMA undertook planning for a small number of missions. However, the continuing restrictions and consequences of the Covid pandemic with the ensuing travel restrictions resulted in none taking place with no further missions running until mid‐2022.

The newly appointed National Director, however, did undertake an exploratory trip to Africa in Autumn 2021 to renew links with the church there.

During this enforced ‘sabbatical’ from activity SOMA continued to develop and inform its UK and overseas supporters (individuals, institutions, and parishes) publishing its newsletter ‘Sharing’ and ‘Daily Prayer Diary’ three times in the year. The SOMA website was regularly updated.

SOMA continued to develop its mission preparation, safety & security, safeguarding and data protocols, publications and policies.

The ministry of prayer and intercession continued to hold a high priority for SOMA. Prayer requests, at least daily, were made available through SOMA’s ‘twitter’ and ‘facebook’ accounts. Hardcopy Daily Prayer Diaries that covered the year were distributed with ‘Sharing’ to all UK supporters and made available on the SOMA website. In addition, SOMA friends abroads’ prayer request updates were emailed to team members, team leaders, Parish Mission Partners, donors and others requesting them. The group of voluntary Intercessor Coordinators continued to play a vital role. Intercession by our volunteer Intercessors was further facilitated through E mail, text, phone, extensive, regular ‘prayer briefings’ and by our Intercession Coordinators. The SOMA intercessors’ network involved 129 individuals, with additional numbers involved as personal intercessors for Team members during missions.

SOMA ‘Parish Mission Partnerships’ numbered 51, their congregations informed through ‘Sharing’. Working relationships with organisations and associations were strengthened, including those with ReSource; Salisbury – Sudans’ Diocesan Link; Archbishop of Canterbury; African Pastors Fellowship; Lambeth Conference; Anglican Communion; Faith2Share; FPE, Partnership for World Mission and the Sudan Church Association.

The ministry of sending multicultural, cross‐cultural teams holds an equally important role in SOMA’s ministry. SOMA’s number of registered team leaders and team members was 287 individuals.

A key appointment made in the year was that of Revd. Richard Moy as the new National Director in succession to Revd. Stephen Dinsmore who has retired; at the same time the operational base of SOMA relocated to West London.

Financial review

The financial performance for the year and position at the end of the year is as shown by the accompanying financial statements.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure in order to provide continuity and to fulfil the charity’s obligations. The trustees consider that reserves at this level will ensure, in the event of a significant drop in funding, that they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves was maintained throughout the year.

SHARING OF MINISTRIES ABROAD (SOMA UK)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

SOMA is a responsible Mission Partner and a responsible employer with paid employees. On 31st December 2021 SOMA UK's unrestricted reserves were £33,107 which represents normal operating expenditure for just over five months (excluding costs of team visits which are raised on a mission‐by‐mission basis). This level of reserves is expected to reduce year by year as funds are used to provide sponsorship for missions that would otherwise not be possible.

SOMA UK places a high priority on safety, security, safeguarding and risk management. The more extensive Safety and Security policy was carefully implemented. SOMA continued to ensure that team members obtain and act on best medical advice prior to departure and obtain full insurance for the location of the team for the duration of the visit. When planning a team visit the team leader and National Director maintain close communication with the Bishop of the local Diocese, the local hosts at the team’s planned locations and other local, national and international contacts to assess present and likely future developments that may affect the nature and level of risk to the team. The effectiveness of the planning was put to the test in 2017 when an overseas team was caught up in a coup and returned home without serious incident.

The Trustees regularly review the major risks to which SOMA UK is exposed which include those relating to long term sustainability and financial accountability. The Trustees are satisfied that systems are in place to mitigate these risks.

SOMA plans to continue its ministry without major change, working for the transformation of individuals and churches and the healing of communities and their lands through the renewing power of the Holy Spirit, through Intercession, Prayer and sending short‐term Mission Teams across the Anglican Communion. This will likely be with a focus on our current geographical areas of activity.

For an update of news and for our latest newsletter 'Sharing', which details how SOMA has changed people's lives by working with and through the Holy Spirit, please refer to our website www.somauk.org .

Structure, governance and management

The charity was established by a charitable trust deed on 12th February 1980 and was registered by the Charity Commission for England & Wales as a charity on 9th April 1980.

The trustees who served during the year and up to the date of signature of the financial statements were:

Revd. Canon P Whitworth (Chair) Revd. M Beer Resigned 25 July 2022 Ms J Brown Mrs L Cooper Resigned 26 May 2022 Mr B Hampson BFP FCA Revd. S Home Appointed 17 March 2022 Mrs M MacInnes Revd. W Massey Appointed 17 March 2022 Ven. K Roberts Appointed 17 March 2022 Mr D C Rowe

None of the trustees has any beneficial interest in the charity.

SHARING OF MINISTRIES ABROAD (SOMA UK)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Organisational structure:

The charity is small. The Trustees have appointed a National Director to run the organisation on a day‐to‐day basis who liaises between potential mission partners and the Trustees with regard to specific mission activity. The National Director is supported by two part time administrative support staff who provide back office and financial administration as well as co‐ ordinating mission activity and production of the periodic newsletters.

The SOMA Trustees met on four occasions. The Trustees continue to seek a dynamic balance of gifts and experience in the makeup of their membership to achieve a consistently high standard of governance featuring accountability, transparency and integrity. The Trustees are also engaged in seeking additional Trustees, appraising and evaluating their number and ensuring proper governance is undertaken. Succession timings were implemented for current Trustees. Monthly Cash Management Accounts and Financial Trends information are made available to the Trustees. A quarterly budget review meeting was continued. Roger Wheeler was re‐appointed as Independent Examiner.

Induction & training of Trustees:

As noted above Trustees are appointed to ensure a balance of gifts and experience. New trustees are invited to the operational base and given the opportunity for a detailed examination of the charity. From time to time trustees are encouraged to join missions to experience the detailed work of the charity at first hand. Training specific to the size and operations of the organisation and periodic updates are made available to Trustees on a needs basis and the annual conference provides an opportunity for more formal training.

Event subsequent to the date of the balance sheet

In 2022 a significant single donation of £25,000 was made to SOMA by another charity.

The trustees' report was approved by the Board of Trustees.

Revd. Canon P Whitworth

Trustee

Date: 29 September 2022

SHARING OF MINISTRIES ABROAD (SOMA UK)

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF SHARING OF MINISTRIES ABROAD (SOMA UK) Charity Registration number: 279759

I report to the trustees on my examination of the financial statements of Sharing of Ministries Abroad (SOMA UK) (the charity) for the year ended 31 December 2021 set out on pages 6 to 17.

Responsibilities and basis of report

The trustees of the charity are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the Act).

The charity's trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed. I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act.

It is my responsibility to:

Basis of Independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination no matters have come to my attention which give me cause to believe that in any material respect:

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 financial statements to be reached.

Roger Wheeler B.Sc Econ

1 Farrar Drive Marlborough Wilts SN8 1TP

Date: 5[th] October 2022

SHARING OF MINISTRIES ABROAD (SOMA UK)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income and endowments from:
Donations and legacies
3
58,735
750
Investment income
4
‐
‐
Other income
5
‐
7,520
Total income
58,735
8,270
Expenditure on:
Raising funds
6
‐
‐
Charitable activities
7
76,802
8,270
Total resources expended
76,802
8,270
Net (expenditure)/income for the year/
Net movement in funds
(18,067)
‐
Fund balances at 1 January 2021
51,174
2,627
Fund balances at 31 December 2021
33,107
2,627		 Total
2021
£
59,485
‐
7,520
67,005
‐
85,072
85,072
(18,067)
53,801
35,734		 Total
2020
£
78,710
13
10
78,733
144
86,805
86,949
(8,216)
62,017
53,801

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

SHARING OF MINISTRIES ABROAD (SOMA UK)

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Income funds
Partners in renewal
Outreach fund
16
Unrestricted funds ‐ general		 2021
£
2,864
41,939
44,803
(9,069)
2,047
580		 £
35,734
2,627
33,107
35,734		 2020
£
3,108
58,658
61,766
(7,965)
2,047
580		 £
53,801
2,627
51,174
53,801

The financial statements were approved by the Trustees on 29 September 2022 and signed on their behalf by

Revd. Canon P Whitworth Mr B Hampson BFP FCA Trustee Trustee

SHARING OF MINISTRIES ABROAD (SOMA UK)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

Sharing of Ministries Abroad (SOMA UK) is a trust established by a Declaration of Trust dated 12th February 1980 and registered by the Charity Commission for England and Wales as a charity on 9th April 1980.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and “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 UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Donations:

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies:

Legacy income and grants receivable are recognised when the Trustees have been formally notified of the amount due to the charity.

SHARING OF MINISTRIES ABROAD (SOMA UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies (continued)

1.4 Incoming resources (continued)

Donated services:

The charity recognises income in respect of the estimated value of donated services received in respect of the preparation of the statutory accounts and the Independent Examination where appropriately qualified professionals freely donate their time to ensure the charity meets its statutory obligations in these areas.

Grants:

Grant income is recognised once the charity has been notified of the award, unless the conditions of the award require deferral of the amount.

Deferred income:

Income is deferred (a) when it is received in an accounting period but is intended to finance costs arising in a later accounting period or (b) when conditions have to be fulfilled, and which have not yet been met, before the charity is absolutely entitled to the income.

1.5 Resources expended

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short‐term liquid investments with original maturities of three months or less.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. All amounts payable are classified as current liabilities if payment is due within one year.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

SHARING OF MINISTRIES ABROAD (SOMA UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies (continued)

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10 Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations and gifts
47,835
750
Legacies receivable
6,000
‐
Grants receivable
2,400
‐
Donated services
2,500
‐
For the year ended 31 December 2021
58,735
750
For the year ended 31 December 2020
66,597
12,113		 Total
2021
£
48,585
6,000
2,400
2,500
59,485		 Total
2020
£
74,250
‐
1,960
2,500
78,710
78,710

Donations and gifts includes amounts received from individuals, parishes and in response to particular appeals. The Trustees gratefully acknowledge all these gifts; without this generous support the charity would be unable to fulfil many of its objectives.

SHARING OF MINISTRIES ABROAD (SOMA UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

4
5

6		 Investment income
Unrestricted
Restricted
funds
funds
general
£
£
Interest receivable
‐
‐
For the year ended 31 December 2020
‐
‐
Other income
Unrestricted
Restricted
funds
funds
general
2021
2021
£
£
Other income
‐
‐
Conference income
‐
7,520
For the year ended 31 December 2021
‐
7,520
For the year ended 31 December 2020
10
‐
Raising funds
Fundraising and publicity
Other fundraising costs		 Total
2021
£
‐
Total
2021
£
‐
7,520
7,520
2021
£
‐
‐		 Total
2020
£
13
Total
2020
£
10
‐
10
10
2020
£
144
144

SHARING OF MINISTRIES ABROAD (SOMA UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

7 Charitable activities

Mission team
visits
Conference
costs
Sharing
prayer letter
& publicity
r
£
£
£
Staff costs (included in note
10)
37,236
‐
‐
Direct costs
3,381
6,500
7,154
Share of support costs (see
note 8)
22,652
1,430
3,409
Share of governance costs
(see note 8)
2,727
172
411
65,996
8,102
10,974
Analysis by fund
Unrestricted funds ‐
general
65,246
582
10,974
Restricted funds
750
7,520
‐
65,996
8,102
10,974
For the year ended 31 December 2020
Unrestricted funds ‐
general
62,084
2,340
10,268
Restricted funds
12,113
‐
‐
74,197
2,340
10,268		 Other
esources
£
‐
‐
‐
‐
‐
‐
‐
‐
‐
‐
‐		 Total
2021
£
37,236
17,035
27,491
3,310
85,072
76,802
8,270
85,072		 Total
2020
£
37,202
22,783
23,210
3,610
86,805
74,692
12,113
86,805

The Trustees wish to record their thanks to a number of team members who donate their time and bear their own expenses in staffing various missions. SOMA's work could not be accomplished without this generosity. It is not possible to attribute a financial value to these gifts in kind.

SHARING OF MINISTRIES ABROAD (SOMA UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

8
Support costs
Support costs
Governance
costs
£
£
Staff costs (included in note
10)
15,619
‐
Office accommodation and
administration costs
11,872
‐
Costs of Trustees meetings
‐
729
Accounting & Independent
Examination donated costs
‐
2,581
27,491
3,310
Analysed between
Charitable activities
27,491
3,310		 2021
£
15,619
11,872
729
2,581
30,801
30,801		 2020 Basis of allocation
£
13,883 Estimates of time spent by
staff
9,327 Pro rata to staff costs
1,110 Actual cost incurred
2,500 Pro rata to staff costs
26,820
26,820

None of the trustees (or any persons connected with them) received any remuneration during the year, but one of them was reimbursed a total of £108 travelling expenses (2020 ‐ £98 claimed by 1 Trustee).

SHARING OF MINISTRIES ABROAD (SOMA UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

10 Employees

Number of employees

The average monthly number of employees during the year was:

2021 2020
Number Number
National Director 1 1
Support staff 2 2
3 3
Employment costs 2021 2020
£ £
Wages and salaries 52,297 50,123
Redundancy cost 500 ‐
Social security costs ‐ 862
Other pension costs 58 100
52,855 51,085

The average number of full time equivalent employees for the year was 2 (2020: 2)

There were no employees whose annual remuneration was £60,000 or more.

11 Taxation

The trust is a registered charity and is exempt from taxation on income and capital gains where they are applied for charitable purposes.

12 Debtors

Amounts falling due within one year:
Other debtors
Prepayments		 2021
£
260
2,604
2,864		 2020
£
1,580
1,528
3,108

SHARING OF MINISTRIES ABROAD (SOMA UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
14
Trade creditors
Other creditors
Accruals		 2021
£
1,040
5,761
‐
2,268
‐
9,069		 2020
£
138
5,128
‐
2,699
‐
7,965

14 Deferred income

2021 2020
£ £
Arising from income received towards future
planned missions 5,761 5,128

15 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all employees (apart from the National Director) unless they elect to opt out. The assets of the scheme are held separately from those of the charity in an independently administered fund.

By virtue of his status as an ordained Church of England Minister the cost of pension provision for the National Director (and the legal obligation for making payment of retirement pension when it becomes due) is borne by the Church of England Pensions Board. No cost falls on SOMA for this provision.

The total pension cost borne by SOMA for the year is disclosed in the Employees Note (Note 10).

SHARING OF MINISTRIES ABROAD (SOMA UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds
Balance at Income Expenditure Balance at
1 January 2021 31 December
2020
£ £ £ £
Team visits ‐ ‐ ‐ ‐
Partners in Renewal 2,047 ‐ ‐ 2,047
Outreach fund 580 ‐ ‐ 580
Mission, mission co‐ordination & conferences ‐ 8,270 ( 8,270) ‐
2,627 8,270 ( 8,270) 2,627

Further particulars of the funds are as follows:

Team visits:

Donations are received towards specific team visits or areas of mission. Unused funds are held until their purpose is fulfilled.

Partners in renewal:

The fund is used to facilitate Christian leaders from overseas to visit parishes in the UK to minister together for their mutual benefit. Visits are usually linked with an international conference.

Mission and mission co‐ordination:

This work is funded by a number of donors to provide support for the expenses of the role of International Coordinator of the Episcopal Church of South Sudan (ECSS). ECSS is a mission partner of SOMA UK.

Outreach fund:

Started in 1988 this fund is to be used for the special actions of Christian outreach through SOMA UK at the discretion of the International Board's chairman, secretary and treasurer. In particular it is to be used to help towards exceptional outreach action and the travel expenses of SOMA UK teams from developing countries and to bring people from developing countries to renewal events.

17 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 31 December 2021 are
represented by:
Current assets/(liabilities)
33,107
2,627
33,107
2,627		 Total
2021
£
35,734
35,734		 Total
2020
£
53,801
53,801

SHARING OF MINISTRIES ABROAD (SOMA UK)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

18 Related party transactions and key management personnel

Remuneration of key management personnel

At the end of July 2021 the then National Director retired. The successor was appointed on a part time basis commencing in June 2021 in order to achieve an effective hand over and the new appointment became a full time role from 1[st] September 2021.

The remuneration of key management personnel is as follows.

2021 2020
£ £
Aggregate compensation of the national director post for the year 37,236 35,838

Under an arrangement agreed with the former National Director until 31 July 2021 the SOMA offices were located in an annexe to the private residence of the National Director. Rent and contributions towards utility costs were paid to the outgoing National Director in the year amounting to £2,237 (2020: £3,834).

19 Post balance sheet events

As a result of the Coronavirus pandemic SOMA UK’s ability to operate normally from March 2020 was severely curtailed. However the Trustees are of the opinion that, for the foreseeable future, it has not affected the underlying financial stability of the charity although a return to ‘normal’ level of activity is unlikely before 2023.