Churches of God CeNtr%l Gift5 Fund
Report Financial Statement5
For the Year Ended 31 December 2023
Charity No. 299106 (EDgland aThd Wal¢s)
Charity No. SC024963 (Scotland)

Churches of God Central Gifts Fund
Trustees, Annual Reportfor ihe Year Ended 31 December 2023
ge
Tnjsiees. Annual Report
Independeni Auditor's RepiKI to the Trustres of The Cenirdl
Gifts Committee of the Churches of God
8-10
Staiement of Financial Activities
Balance Sh
12
Cash Flow Sta*meni
13
Notes io the Financial s￿ements
14-28

Churches of God Central Gifts Fund
Trustees, Annual Reportfor the Year Ended 31 December 2023
The Trustees are plca5ed to present their report together with the financial statrmeni of th¢ Churches of
God Central Gifts Fund for the year ended 31 tkcember 2023. The charity's regÉsi¢red nam¢ is The
Cenlral Gifis Commitiee rfihe Churches of God. however the charity is referred to throughout the
rinancial siatements under the operating name of Chwches ofGodCeniral Gifis Fund.
Reference attd Administrative Informatio
Charity Name..
The Central Gifts Comrnitttt of the Churches of G(xl
Charity Registr￿10￿ Number.
No. 299106 (England and Wales)
No. SC024963 (Scotland)
Principal Contact
E L Burgoyne
Contact Address..
135 txmdonald Ro￿. Kilmarnock KAI Iufj
Website..
wwiv.churchesof8od.irtfo
Trustees
All Trustees. listed below. served for the full year and Since the year end to date unless iAdicat¢d
otherwise.
A Brown (resigned 12.09.24)
E L Burgoyne
G J Hunrer
DMKing
F J Reilly
S Seddon (appoinied 09.07.24)
C N Sutton (appoinied 27.01.23)
D Woods
Steretary
C N Sunon
Treasurer
G J Hunter
Auditors
Anderson ATKl¢tson & Brown Audii LLP
A¢¢ount8nts and Busines5 AdviseTS
81 George Stre
Edinburgh
EH2 3ES
Prlnelp81 B*nk¢rs
Bank of Scotland
153 P(Ytobello High Strttt
Edinburgh
EH15 IAG
l*vestme*t M*nagers
St James's Place Wealth Managemeni
l Tetbury Ro•J
Cirencesler
Glouceslershire
GL7 IFP
CCLA
One Angel Lane
London
EC4R 3AB
Solicito
General- L*gal
Murrny Beith Murray
3 Glenfinlas StreeL
EdIn￿rgh
EH3 6AQ
UK Property Transattions
Anthony Collins Solicitors LLP
134 Edmund Street
B1￿Ingharn
B3 2ES

Churches of God Central Gifts Fund
Trustees, Annual Reportfor the Year Ended 31 December 2023
Strncture Gov¢rn4ntt and
emtnt
Governing D￿￿meTht
The Centrdl Gifts Committee of the Churthes of G(Ml Dhe charity") was estsblished by way of and is
governed by its Trusr Deed. The original Trusi Deed. daied 2 Sepiember 1960, is subject to exlen510ll IXI
various dates, most noticeably on 3 September 1987 and 17 April 2010. Thecharity is a registered charity,
No 299106. F￿gland and Wales and No. SC024963. S£￿1a￿￿.
Appointme•t of Tru$te¢s
Trusttts are elected at the Conference of Overseers of the Churche5 of G(yJ while any changes io ihe
Trustees are also approved ai the Conference. There is no fjxed terni for Trusieeship. The appoinlrnenl
procedure and induction process ensures that the charity comwises T￿j￿te5 who have appropria
qualificalions, are&% of expenise and experience who are clear about iheir role. As pan of their
induciion progrnlnme, new Tnjstees are required to understand their stsiuiory responsibilities.
Org4Thts*tlonAI strneture
The adtninistraiion and allocation of funds is monaged by the Tn￿ttts WI￿ meet from time to lime.
Divisional Commillees are in plK¢ for ea¢h fvnd and rewjrt io ihe T￿￿e¢s. Funds management rests
with ihe Invesimeni sulKommittee which includes the Treasurer.
Key Management PersonDel
Given their involvement as outlined above. the Tn￿ consider thEmselves as ihe charity's key
management personnel, in charge of direc(ing and controlling the chartty. All Trusrees give iheir lime
frttly. tktails of Tru5tee5' eX￿￿$tS and related party iran5acti<￿5 are outlined in Notes 21 and 22 10 the
financial 51at¢ments.
Risk rnanageJneNt
The Trus(tts have identified and considered ihe major strategic. financial and operdtional risks to which
the charity is exposed and have established systems to enable those risks to be mitigat¢d. The main risks
thal the charity faced during the year were identified as ihe abilirv of ihe charitv to meet the rtnancial
needs, especially in the deYelopin8 world. however the inJMees believe that ¢h8rity is well Ex)sitioned io
cover the financial needs gohng fornvard. Anoiher major risk is succession plannin& and ihe tnJ5tees are
aware of the continued need io recnbit individuals with $uitable skill sets and also ouisource certain
functions where appropriate. An asse55ment of risks facing ihe chariry will be undertaken in 2024 and
thi5 will be an annual review.
eetiv
Activiti
The Purpose of the Charity
The Churches of God 15 a worldwide fellowship of thurches e$tablithed in ihe United Kingdom. Europe,
North Ameri¢8, Au51rn1i< Indii South Easi Asia and Africa with ihe purw)se of spreading ihe gospel
and the teachings of the Lord Jesus ChrisL ihe provision of education and rtlief to the needy.
M4in 4¢tiviiks
sUp￿rt and encourage outyeach by the Churches of God.
Maintenance of full time Ministering Brethren (MBS) and gospel wotkers.
Assistance toward5 youth work inc14Jding Camps.
Provision pnd maintenance of mttiing Pl￿¢5 of the Churches of God.
Provision for relief of Frfjverty. ￿lS￿nCe iowards ¢dU￿tion and medical needs in thveloping
couniries_
her charitable purp)s¢s of the Churches of God as approved by the Conference of Overseers.

Churches of God Central Gifts Fund
Trustees, Annual Reportfor ihe Year Ended 31 December 2023
Fuifillittt our I￿¥1 Purpw5trntegi¢5
Wilh missionary Sup1￿ and rddio outrexh. the charity is endeavouring to meer the spiritual Deed5 of
people wherever it operdtes. Funding humanilarian relief provides the means of alleviating poverty and
sickness while working within the limits of rrs(Nwce5 to meet a growing demand.
AssesslNg Succes5
Within the organisation, re8ular fredback is received and aaed upcffi from those working in the field.
There are varLOU5 divisions with supming committees that closely moniior the ¢hority's activitie5
periodicalty repming to the Trustees.
Slgnifle*nt Attivitits
The rise in the c05t of livin￿]n￿￿tIOn has had a major impaci on Relief costs and this has #Iso increased
the cost of building materials for new halls and the mainienance of halls in the developing world. In
general, financial support for Relief increased in many of the 'developing' COUDtri¢s. Cyclone Freddy
had a devastating impact particularly in Malawi and Mozambique. However, the charity was able to
support all the needs due lo the continued financial supw of sainis and churches in the western worl
plus healthy reserve5 held by the charity. The devaluaiion of the Malawi Kwa¢ha in lale 2023 has had an
impact on c05t of food, medical supplie& peirol and building malerials.
Local outr¢a¢h continues in many couniries. led by indigenou5 MB and Gospel worker plus MB from
the UK and North America. Travel costs (air fares) have continued io rise.
Whil¢ som¢ chari¢ie5 have seen reduced donations in 2023 due to the ffi-going inllationlrise in the cost
of livin& th4nkfully the charity has sttn undiminished financial sUP￿rt from saints and churches during
2023, which has allowed the chariry io operate financially normal.. This is a huge blessing as we
continue the L¢xd's work.
In 2023, we have mainlained a steady input into developing the work over5e¥s. For exampk=
Gospel outreach and leaching.
Building church halls.
Putting into practice the benefits of Pern￿￿1turc in Malawi" there h4ve been successes and
s¢tbaeks with pennaCul￿rt.
Mobile clinic and Orphan Care Centre in Malawi and Continu￿ medical support in other
countries.
Funding of broadcasts from Christian rnlio 5tJtiOll5.
Youth Camp facilities in a nwnber of countries.
Edu¢Ation, at vari(ws levels.
Short t¢TthILong tenn Aims
In the short ieTrn, Ihe aim is lo raise the standard of living and develop stronger self-supporting Chrisiian
¢ommunities abroad. In the long ierni. the aim is io incre&8e self-sufficiency in these communities. This
will onty be achieved by careful monitoring and I￿Sing how objectives can be tsilored io meet
¢hanging sityaiions. An important aim is spiritual development and the planting of churche5.
Volunt¢eTS
Volunteering d¢)es not make a significant contribution to the charity's activitÈe4 however it should be
noied that ihe Trusttts of Central Gifts atjd the members of the variiMLS cornmttttts are volunittty.

Churches of God Central Gifts Fund
Trusltts. Annual Reportfor the Yeor Ended 31 December 2023
Achievement
and Performance
SlgnifKaTh¢ highligh￿ events *nd developme*ts ofnote in th¢ ye4r iTr¢lvde the fol]owint-
li should be mentioned all are&s n￿ed below, received relief payments for hardship.
l. West Africa District..
We conrinue to support the work in Nigeria, Ghan& Liberiaand Kenya comprising 28 chur¢h¢s.
Nigeria was ihe fjrst African county to be ewangelised by the Churche5 of God in 1920 and has
continued togrow numerically and Spiritt￿llY over 100 years since then. Th¢re are four full time
MBS working in this Distria along with several gospel workers supported financially by the
harity-
2. South ￿5t Cemtral Africa District (SECA):
Thi5 di51rict which comprises Malawi. Mozambique, Zimbabwe and Tanzania is an area which
has seen go(xl growth in the nUM￿r of churches and ¢(￿￿panIeS Wlth believers being added to
these churches. This disirici has over 40 thuTches'cornpanies.
The counthes in this dI￿n¢t frequently 5ufferfrorn famin4 damage tocrops and severe fl￿xIIng.
3. lThdi*=
Christianity is a minority faith in India and ihai brings many challenge5 lo the brothers and
sisters there making up 18 churches. There is now one indigenous fvll lime MB 5UPEKlrt¢d by
the charity and a number of go5￿[ workers SUp￿rted financially. For several months of the
year they are joined by full time MBS from the UK and c￿ad
4. Myanm&r'.
There are 5 thurches in Myanmar.
5. Philipplne5'.
This i5 an esthblished wot* consisting of14 ¢hur¢hes in the souih of the country with one local
full time MB and regular SLtpport of fvll time MBS from the UK and Canad& There 15 a slrong
emphasis on oospel ouireach which has resulied susiained growih over recent year5.
6. All the chU￿h¢S in thu¢ are&8 are a tesiimony io ihe ¢omrnandmeDt 'Love Gt￿ loveyour
neighboiir.. UK Divisional Cornmittces conErol Outreac￿ relief and FKoperty programmes which
lasi year involved expenditure of £623k12022 £496k), an increase of approximately 25•/•. These
sums ¢on5iSted of increased missionary visits from the UK, radio broadcasiing. literature
trdnslation and disrribuiion. fighting poverty and disease, hall building repairs'renovation. caTe
for or￿lan children and supp)rting children's education. The main cost burdens, were general
and cyclone relief. church building costs and the operation of the Malawi mobile clinic.
7. UK:
The Fellowship Mailing Centre has mainthined a steady ouiflow of liteTrture worldwide.
Performanees of the m￿Jor funds:
8. Fellowship Relitl:
Incorne received was £457.116 (which includes an 8¢¢rual of £162.861) excluding the accrual
this is £294k, which is an In¢￿a$¢ of £50k over 2022.
Overall relief cosrs were £280.5k which is an apwOxim￿e reduaion of £IOk frorn 2022.
9. Fellowship Outreach:
Income received was £208k (which include5 an *crual of£162.861) which would be a de¢rea5e
of £44k from the previous year.
Expendiiure decreased fr(￿n £15 Ik in 2022 10 £13 Ik in 2023.
l(l. Far East & Africa Property:
Income received in 2023 was £127k. which included a bequesi of £120L 2022 was £8k. Costs
increased to £21 Ik up from £55k in 2022. The incr￿* in cO￿S related to land purchases. hall
builds and property mainienance.

Churches of God Central Gifts Fund
Trustees, Annual Reportfor ihe Year Ended 31 December 2023
Main observations:
Overall as noted ab)ve, Relief inciJm¢ r05e, with a 51ighi ruluction An expenditure. Ouireach income
reduced as did expendirure. Far East & Africa Property Costs where high due mainly to laThi purchase5
and hall builds, excluding the £120k Iwuest, income was on par with 2022.
In rnany ways the charity has been blessed by the continued financial support whi¢h is unwavering, and
the income stream is basically unaffected. Some charities have sttn iheii income decrease, but ihe chariry
continues to have the fmartcial 5UPPOrt to meet on-going need& through regulor giving. bequests and
(Sadly) the sale of church halls irt ihe UK.
Af hitvebnents Objettives
The objectives in the short term are being rnei from the charity's income. however in ihe longer terni. the
aim is io help the ￿al ￿pIe in the developing world to ttcome more 5elf-5uffi¢i¢nl.
Investment Performance
There was considerdble volatility in the markets in 2022 andoverall, the charities investments were down
from £948,589 at the end of 2022 to £864.357. an unrealised loss of £84232 (- If/•}. In 2023 the markets
stsbilised, and the chwities investrnents increased from £864J57 kn £946,605 an unrealised gain of
£82,199 (9.50kn).
Other Matters
Dismlssal of M*lawi Project Supervisor.
The court action raised in 2017 15 siill noi resolved. A hearing was arranged in 2019. but the complainant
did not appear. No fiutheraction was seen in 2023. We will continue to defend the charges mad¢ against
us.
S#leguardlNg
We now have a comprehensive Safeguarding policy irt place which covers the Ceniral Gifts Comrnill¢¢
ond all sub committees and sub groups. The majority of Tru5ttts have completed on-line training.
Plxns for Future Periods
The ¢harity'$ plan5 for 2023 focus on the followirtg areas:
Mal*wi Relier:
The roll out of Pemiaculiure (including IrJiningl to the rural areas where we have churches will
continue. This will be accompanied, where required by the construction of further boreholes
for the provision of clean drinking water ￿ well as iThigation purposes.
Relief- GeAer*l-
The Charity has sufflcient funds and 15 Committ￿ to provide for relief requirement5 going
fonvard.
Property- Genernl:
The ongoing purchase of land and building new hall& where r¢quire(L will continue.
Myanmar:
The Hydroelectric Power Plani Project w&$ completed in 2023 despite ihe ongoing ditYKultie5.
Outrtaeh:
The visits of Ministering Brethren to various ￿￿ntrIeS has now nornialised due to ihe lifting of
Covid restricrions. and (¥Jtrea¢h ¢osts rose in 2023 mainly due to the increased cost of flighis.
It is aniicipaied ihai costs for 2024 will be similar ￿ 2023. In general terms, Lncome improved
year overyear in 2023.
scio
On ihe 28 of February 2023 the Office of the Scottish Charity Regulator (OSCR) approved ihe
charity's application to become a Scottish Charitsble Incorprdted Organisation {SCIOI with a
registered number SC052363. This will change charity statu5 from UnincorF4)rate io
Incorporated and provides a numberofbenefiis io the charity and Trustees. Once the SCIO bank
account has finalised there will te quiie a number of tasks to migrate from the Tr￿￿1 to ¢h¢
scio.

Churches of God Central Gifts Fund
Trustees, Annual Reportfor ihe Year Ended 31 December 2023
Gener81
With ihe increasing number of converts to the Chrimian faith where ih¢ Charity operates. there is a
growing demand for more churches lo be established. This will require funding for land. buildings. relief.
education. ouireach and visits, all impacting on the charity's resources.
Fim*n¢ial Review
PrlMcip¢TI E￿Ilding Sothrtys
The chaTity's principal source of funding 15 th)nations Ch￿￿heS of God. Districts. individuals,
bequests and hall sales. Vlhere ihere is a defined t￿ditIOn applying lo the use of fvnd5, such funds are
classified a5 Resiricted Funds and distributed as soon as is praaicable in accordance with the donors.
Wishes. Gifts which have no attxhing condiiions are regarded 85 Unrestrided Furtds and utilised by the
Trustees as and when circumstances dicme.
ResMltsfor¢heyear
As per the Statement of Financial Aciivhties. the charity reported Net Inc(*ne (i.e. a SuTplus) and N
Movement of Funds for the year of £371233 (2022 £426,970) whi¢h included a gain of £82k
investment& (2022 a loss of £84k). Ai the Balance Shth date, totsl reserves amounted to £2,704,670 of
which £980.548 (36.25•/.) related to Resiricied Funds.
Reserves policy
In relation to Unrestricied Funds the Trustees. wjlicy is io ￿lease gifts a5 needs arise based on the
amount of gift income received in the ac¢ounting year. Any build-up of Unre5tri¢ted Funds enables the
Trustees to respond to emergency ne£ds. if required. As indicawl in Noie IS on page 23. the charity'5
Unresiricied Funds (excluding property Fixed Assets) ai J I tkcemb¢r 2023 amounted to £1.672.352 of
which £946.605 wa5 invested in unit trusts payable on demand_ Although the ratio of Investments to the
overall balance of Unrestrictive Funds is high the Trustees would rekase Unffstricred Funds within
Investments if they feli thai sizeable or emeTg¢ncy need5 should be met.
In relation to Re51ricted Fund& the Trumees, tKJlic)' is also to release gifts as nttds arise. A5 indicated in
Note 18 on page 24. the charity's ReMrici¢d Funds &% at 31 December 2023 arnwnied to £980,548 which
represented an incrwe of £235k on the balance at 31 December 2022.
The Tnjsiees conlinue to ensure there is a robust system in relatiott to the control and monitoring of
overseas expendiiure. In ¢onjunclion with ihe appointment ofa Recontiliation Officer (2019) we adopted
Ihe use of dropbox a5 a storage facility within which third party documen(ation for oversea5 expenditu
is filed and retrieved for internal and audit purpose5. The work of the Reconciliaiion off￿¢r is onerous
as ihe Charity requires documentation from many countries worldwide.
The charity operates in some ofthe ￿rest and mosi underdeveloped wuntries in the world. e.g. Malawi.
Myanmar and Liberi4 which i5 a challenge in iemis of technology and the gkthering of supporting
paperwi)rk. The Trnsttt5 are comrnitted io g(K¥J stewardship and accountability of which the charity's
generous donors must be wured at all limes.
lrtvestmtnt Policy
Under the Trust Deed. the Tntstees hawe powers to accumulate funds and invesi funds at theirdiscretion.
The Trusie¢s adopt a low to medium risk inveslmentstrdtegy aimed ai generating both incom¢ and ¢apital
growth in the medium io long temi. The Trustees have apN)inied Si James's Place Wealth Management
and CCLA as Investmeni Managers. A review of the charity's invesiments and perforn)an¢¢ was
undertaken in 2023.
Grnnt Making Policy
Pericbjscally. fund5 disbursed to full time MBS and MBS widows. li should be noted th￿ David W0￿S
is a MB and a Trus*e of the charity. and like all other Trust¢e5, Mr. Wo(th does n¢X receive any
remuneration from the ¢h8rity but he may. like other MB5 rxeive fund5 from assemblies ihai are
disbursed via th¢ ¢harity. Mr Woolts is never Forty lo dISc￿$s1On5 re8ardin8 allocation of funds to MBS.

Churches of God Central Gifts Fund
Trust¢es' Annual Reportfor ihe Year Ended 3] December 2023
Grants are also made toward5 the c(M)StrU¢iion ond maintenance ofchurch buildings. In addition, various
outreach and devolional events and other &ssoci*ed ministries are supwrted. all ai the TDj￿eeS.
discretion.
Statement of Trustee5' Responsibllltles
The TrllSte￿ are resw)nsible for pr¢paring the Tru51ees' Rew and the financial stsiements in
accordance with applicable law and United Kingdom Accouniing Standards (United Kingdom Generalty
Accepted Accounting Praciice).
The law applicable to charities in Englat]d and Wales, the Chariiies Act 2011 and in Scotland, the
Charities and Trustee Investmeni (Scotlandl Act 2￿5, the Charities A¢¢ounts (Scotland) Regul*ions
2006 (85 amended) and ihe provi5ion5 of the charity's Trusi Deed requires the Tntstees to prepare
finaneial statements for each financial year which give a true and fair view of the charity's stale of affairs
and of its incoming resources and applicalion of resources for that period In pwaring those financial
statements, the TTUStees are required to..
seleci suitable accoun¢ing policies and then apply them conSi￿ently.
observe the methods aThJ principles in the Charities Sraiement of Rewmmended Practice;
make judgments and estimates that are reasonable and wudenl;
stale wherher applicable UK accounting standards have been followed subject to any material
departures discI(￿d atKI explained in the financial statements.
prepare the financial staiements on the going C￿c¢M basis unless li is inappropriate to presume
that the ¢harity will continue in optrdti(Nh.
The Trustees are responsible for keeping rKoper acc￿1]ng records which disclose with reasonable
accuracy ai any tim¢ the charity's financial position and to enable ihem io ¢nsure ihai ihe financial
siatemenis comply with the Chartiies Act 2011, the Charities and Tntstee Inveslmeni (Scoiland) Acl
2005, the Charities Accounts (Scotland) RegUlati￿S 2￿)6 (as amended) and the provisions of the
charity's Trust Deed. They are also resFM)nsible lor safeguarding the assets of the charity and heno for
tsking reasonable steps for ihe preventi1￿ and detrciion of fraud and oth¢r irregulariiies.
The Trustees are reswn5ible for the maintenance and integrity of the fman¢i#l infom]ation included on
Ihe charity's website. Legislation in the United Kingdom governing the preparntion and diss¢mination of
financial statements may dilTer from legislatiw in other jurisdictions.
Publ1¢ Benefit Statement
The Trustees confirni that they have cornplted with their duty to have due regard to ihe guidance on
publi¢ benefit published by ihe Chartty Commissi{￿ in exercising iheir ￿werS and duties.
A￿dItOrS
A resolution woposing ihai Anderson Anderson & Brown Audit LLP be appoinied &$ 8udilors of the
charity will be put to the Annual General Meeting.
This report was apwoved by the Trustees on 30th October2(r24 and signed on their l*half by:
G J Hunter
Triisiee & Treasurer

Churches of God Central Gifts Fund
Independent Auditor'$ Report to Ihe Trnstees of The Central Gifts Committee of
the Churches of God
Opirtlon
We have audited the financial ￿atern¢￿ts of The Central Gift5 Comminee of the Churches of God ('the
Charity.) for the year ended 31 December 2023 which comprise the Siaiemeni of Finan¢ial Activities,
the Balance Sheet, the Cash Flow Ststemeni and notes to the financial ststements, in¢ludin8 a summary
of significant aceouniing policies. The financial reporting framework Ihat has be¢D applied their
preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Pra￿L¢e). including Financial Rep(Aiing Stsndard 102 The Financial Reponing
Standard a￿lICable in the UK and Republic of Ireland..
In our opinion the financial ststements=
give a trne and fair view of the state of the charity's affairs a5 at 31 December 2023 and of its incoming
resources and application of resources. for ihe year then ended.
have been properly prepared in accordance with Uniied Kingdom Generally Accepted Accounting
Praciice. including Financial Reporting Stsndard 102 The Financial Reporting Slandard applic&ble in
th¢ UK and Republic of Ireland,; and
have been prepared in accordan¢e with the requiremenis of the Charities Act 2011, the Chariiies and
TNstee Investment (Scotland) A¢t 2CK15 and Regulati[￿ 8 of the Chariiies Ac¢owiis (Scotland)
Regulation5 2006 (as amended).
sis for optnion
We conducted our audit in a¢cordance with Inlernational Stsndard5 on Auditing (UK) (ISAS (UK)) and
applicable law. Our resrA)nsibilities under those stsndards are further described in the Auditors,
responsibilities for the audit of the financial statements seciion of (yur rewrt- We are independent of (he
chariry in accordance whth the ethical requirements that are relevant to our audit of the financial
siatemenls irt the UK. including the FRC'S Eihical Si8Ddard. and we have fulfilled our other eihical
re5p)nsibilities in accordance with these requirements. We believe that the audit evidence we have
obtsined is sufficieni and a￿)rOprIate io wjvide a basi5 for our opinion.
conclus￿rts relating to goi￿ ¢oneern
In auditing ihe financial yatements. we have con¢luded that the iru51ees' Use of the going concern basis
of accounting in the preparation of ihe financial statements is approwiate.
Based on the work we have performed, we have not identified any material uncertointies relating io
evenis or conditions that. individually or collectively. may ￿st 5ignificani doubi on ihe charity's ability
io Conlinue as a 80ing concem for a of ai least twelve monihs from when the financial statements
are au¢horised for issue.
r responsibilities and the responsibilities of the in￿eeS with respect io going concern are described in
the relevani sectiODS of this report.
Other InformAt￿
The tTusle¢s are responsible f(Y the ther Inforn)￿lOn. The other inforniaiion comprises ihe inforniarion
included in the Annual Repon. other than Ihe financial stste￿ents and our Rep)rt of the Independent
Audilor5 thereon. Our Opini￿ on the financial sthtements does not cover the other information and,
except to the exteni otherwise explicitly ￿ated in our r¢wJrt we th) not express any form of assurance
conclusion thereon.
ITh ¢onneciion with ouroudit of ihe financial Statemen￿ our Yes￿nsIbility is to read the other information
and, in doing so, consider wheiher the other inforniaiion is materially inconsisient with the finaneial
statemenis or our knowledge IAxain¢d in the audit or othenvise appears to be materially mi55tated. If we
identify such material inconsistencie5 or apparent material misstaternents. we are required to detern)ine
whdher there is a Tnaierial missratement in the financial st*ements or a maierial misslatement of the
other inforniation. If. based on th¢ work we have perfonned, we conclude there is a maierial
mi5Stat¢meni of this oiher inf(mation. we are required to rewt fact.
We have nothing to report in this regard.

Churches of God Central Gifts Fund
Independent Auditor's Report to the Trnstees of The Central Gifts Committee of
the Churches of God
Matters on wbith we ire required to report by exception
We have nothing io report in resF¢ct of the following matters where the Charilie5 Accounts
(sC￿land} Regulations 2006 (as amended) requiTes us to rep￿ lo you if, in OUT 4Trinion'.
the inforniation given in the Report of the Trustees is inconsistent in any material respect wilh the
financial siaiemenis., or
proper accounting records h&v¢ noi been kept"
Ihe financial statements are not in agreement with the accounting record5 afMI returns" or
we have not received all the inforniation and explanations we require for our audit.
Responsibilities oftruslees
As explained more fully in the Statement of Tru5tees' Responsibilities, the In￿lee5 are responsible for
the preparaiion of the financial statements which give a true and fair view. and for such iniemal conirol
as the irusiees detemiine is necessary to enable the preparation of financial statements that are free frcrf
material misststemenL whdher due io fraud oreTror.
In preparing ihe financial suiements, the M￿tt$ are resp(ffisible ftir assessing the chariry's ability to
Continue as a going cOr]Ce￿ disclosin8, as applicable. mallers rel&ed to going concern and using the
going concem basis of acccmjniing unless ihe I￿￿tee5 either intend to liquidate the charity or to cease
operations, or have no realistic aliernaiive bui to do so.
Our responsibilities for the audlt of the fin*nei#l statements
We have been appointed as auditor under section 44( IXC) of ihe Charities and Tn￿ Investhient
(Scotland) Act 2005 and under ihe Companies Act 2CM)6 and rewrt in accordance with the Acts aThJ
relevant regulations made or having effed thereunder.
Our objectives are to obtsin reasonable assurance aboui whether the financial sthiements as a whole ale
free from maierial misstsiement. whdher due io fraud or error. and io issue an Auditor's Report that
includes (￿r opinion. Reasonable assurnrtce is a high level of assurance. bui is not a guarantee that an
audit conducted in accordance wilh ISAS (UK) will always delect a maierial miSs￿lement when it exisis.
Missiaiemenis can arise from fraud or error and are considered material if, individually or in the
aggregate, Ihey could reasonably be eXpec￿d io influence the economic decisions of users tsken on the
b&8is of these financial sthtemenis.
Irregularities, including fraud. are instantts of non4ompliance with laws and ￿gUlatiOnS. We design
procedures in line wilh our r¢S￿nsibilItIeS outlined above. to detect material missraiements in respect of
irregulariiie¥ including fraud.
The extent io which our pmcedures are capable of de￿¢lIng irregularities. including fraud, is detailed
below=
We considered the OPTKthniiies and incentives th￿ may ex1￿ within ihe charity for fraud and identified
the str￿eSt poteniial for fraud to be income recogniiion and Po￿1ng of unusual joumal entries. Audit
procethjres perfornied io addyess ihese risks included..
Discussions with managemenL including consideration of known or Suspected inslances of non-
compliance with laws and regulaiions and fraud.
Testing of management's controls designed to prevent and det¢¢t iTregu]artlies,'
Challenging &55UrnPtion5 and judseTneniS th by the mana8ernent in 115 Significant ac¢ounting
eslimates:
Ideniifying 8nd iesting journal entries" and
Testing a sample of income transartions Io source documen¢ation.

Churches of God Central Gifts Fund
Independent Auditor's Report to the Trustees of The Central Gifts Committee of
the Churehes of God
We obtained an understanding of ihe legal and regulatory frameworks within which ihe charity operaies.
focusing on those laws and regulaiions thai have a direct effeci on the ddemiinaiion of material amounts
and disclosures in ihe financial statemen(s. The laws and regulaiions we considered in this context were
The Charities and Truste¢ Investment (sC￿land) Act 2(NJ5, together with the Charitie5 SORP (FRS 102)
2019. We as5¢$5d ¢he rwuwed ¢ompliance with these laws and regulatiOll5 as part of our audit
procedures on the related f￿anCIal statemeni iiems.
There are inhereni limithiions in ihe audit procedurE5 desCril￿d above and the further removed non-
compliance with laws and regUl￿lOnS 15 from the events and tfznsactions refiected in the financial
siaiemenis. Ihe less likely we would becorne aware of it. Also, Ihc risk of not detecting a material
misstatemeni due io fraud is higher ihan ihe risk of not detecting one fr(kn error, as fraud may involve
deliberate concealment by. for example. ftygery ty intentional miswtyiion4 or through ¢ollusion.
A further d¢5cription of our rtsponsibiliiies for ihe audii of the financial siaiements is located on the
Financial Reporting Council's websiteal www.fr¢.owuklaudiiotsresponsibilities. This des¢ripii(m fomis
part of our auditor's report.
Use ofour report
This fepon is made 501ely to the charitys tru￿¢¢5, 8$ a iKxly. in 8¢cord8no with Se¢tion 44(IX¢) of the
Charities and Trustee Investment {Scotland) Act 21KJ5, section 144 of the Charities Act 2011 and
regulation 10 of the Charities Accounts (Scotland) RegulatI(￿S 2(MJ6. Our audit work h&8 been
undertaken so thai we mighi stale io the charity's irnsiees those matters we are required io sthie io them
in an audiiors. report and for no other purpose. To the fullesi exteni pennilled by law, we (h) noi accept
or assume responsibility io anyone other than the charity and the charitys tnwees as a body, for wr audil
work. for ihis ye￿￿l or for the opinions we have fornied.
Anderson, Ander50n & Brown Audii LLP
Siatuiory Auditors
ChorieredAccountonis
Eligible io olidi1￿ inierms ofSe¢iioft 1212 ofihe Companiaf Art 2006
81 George Street
Edinburgh
EH23ES
io

Churches of God Central Gifts Fund
Statement of Financial Activities
For ihe Year Ended 31 D¢cember 2023
Unrestricted
GeTreval
De5igo*ted
Fund
FuDth
Restricted
Funds
2023
Total
2022
Tolal
Note5
In¢ome from:
Donations and legacies
Charitable aciivilies
Investments
414.408
1.242.679
6,240
1,662,087
7.140
10333
1,507,209
7.380
8,793
10.233
Total
425.541
1.248.919
1ffj79,46
1.523.382
Exp¢thdltur¢ on:
Raising funds
Charitable acliviti
(9,794)
(256.163)
{9,794>
{IWO.6321
(9.084)
(1,003.288}
(12.413)
(1.112.056)
To¢41 expenditure
{265,957)
(12.413)
(1,112.056)
{1 J90,426)
(1.012.372}
Ne¢ iThcomel{expenditure) before gains and105ses
on Investments
159,584
(7.413)
136.863
289,034
511.010
Gains 8nd 10sse5 iThveslm¢nt 455¢ts
Realised gains
Unr¢alised110ssesygains
Total gains on iThve5tmtn¢ a$￿ts
82.199
82,199
82.199
{84,041)
Net incomel{expenditure) for the ye*r
241.783
(7.413)
136,863
371233
426,970
Transfers between fund5
19.
<99,006)
Net movemtrtt in fundx
142.777
{7,413)
235,869
371,233
426,970
Reconeiliation of lunds
To¢al funds brought forward
1,529,575
59,183
744.679
2J33,437
1,906,467
Total futtds carrled
forward
1.672J52
51,770
170{670
2,333,437
The Notes on pages 14 to 28 form an integral part of these financial smements.

Churches of God Central Gifts Fund
Balance Sheet al 31 December 2023
Iyotes
2023
2022
Fixed Agsets
Tangible Fixed Asxts
10.
51,770
59,183
Investments
946,605
B64,357
Current AsS¢ts
Debtor5
12.
349,178
1,408.436
1.757,614
639.280
814852
Cash at Bank and in Hand
.454.132
Llabllities: Amounts falling due
within one year
13.
Jyet CurreDt Assets
1,706295
1,409,897
Total Net Assets
2.704.670
2J33,437
The Funds of th¢ Ch*rity
Uiiresiricled FMNds
General
De5innared
Reslricled Funds
.672,352
51.770
980,548
1.529,575
59.183
744,679
18.
2,704,670
2.333.437
The financial siatemenis were approved by th¢ Trumtts on
behalf by
31Xh Oclober 2024 and siodied on their
"L-Burgoy•e
G J Hunter
Trtssiee
Treasurer
Tr1151ee
12

Churches of God Central Gifts Fund
Cash Flow Statement
2023
2022
Note5
Cash Flow Statement
Reconeiliatiort of net ineomel(exptnditure) to c*shflow
frorn operating aeliviti¢s
Net income per the Sthtement of Financial Activities
Depreciation
Interest and income from unit
Disposal of tangible fixed asseis
Decreasel IlncTease) in debto
Increase in crediiors
289,033
12.413
(10233)
511.010
6.839
(8.793}
442
{623,941)
7.326
io.
12.
13.
290,103
7,084
Ntt cash inflowl (outllow) from 0￿rating attivbti¢s
107117
C*$h Ilows from Inv¢$t1￿% a¢tfvltles:
Interest and income from unit Irusts
Purchase of tangible fixed assets
Purchase of investments
Proc¢¢ds from sale of inve5tmenL8
Net cash provided by inve5tiTrg *rtivities
10,233
(5.000)
(9.843)
9.794
184
8.793
(31,774)
(8,448)
io.
22
Change in cash And cash equivaknts in the reportimg period
593.584
(129,462)
Cash and cash equivalents at the beginThiAg ofthe repDrtiDg
period
814.852
944.314
Cash and Cash equivalents at the end ofthe reportiog peri￿1
IA0&436
814.852
13

Churches of God Central Gifts Fund
Notes to the Financial Statement$for ihe Year Ended 31 Deceniber 2023
l. Aeeoutttittg Poliei
1.1. ststutory Inforni*tlo
The ch￿￿heS of God Central Gifts Fund 15 a registered charity, No 299106, England and Wale5 and No.
SC024963. Scotland. The principal addre55 15 135 Dundonald Roa4 Kilmarnock L4 I IUG.
ia. B8515 of pr¢p•rntion #nd *ssessth¢ttt ofgolng eontern
The financial staternerjts are prepared under ihe hisiorical Cost convention with iiems recognised ai cost
or transaction value unless othen¥ise stsied in ihe relevant Ncrtes 10 these financial staiements. The
financial staiements have been prepared in accordance with ihe Statement of Recommended Practice..
Accouniing and Reporting by Chariiie5 PTeparing their ¥¢ounts in acwrdan¢e with the Financial
Reporting Standard 102, the Charities Act 2011. th¢ Charitie5 and Trusttt Investment IS¢otland) Act
2005 and the Charities Accounts {Scoiland) Regulations 2(K16 (as amended). The principal accounting
policies adopied in the preparnion of the financial slatements are se¢ out below.
The financial statements are we5ented in UK Sterling and rounded to the nearest pourtd.
The chariry meets the definiti￿ of a public beneflt entity ￿T￿er FRS 102.
In preparing these financial statements budgets have been examined and ihe fvnds of ihe charity
reviewed. The trn5tees have a reasonable expectation th￿ the charity has adequate resources io continue
in opentional existence for ihe foreseeable future. They conrinue io believe the going concern basis of
accouniing appropriaie in preparing the annual financial statements. There are no known, material
uncertainiies regarding the Charirys abiliry to coniinue as a going concern.
.3. Fvnd aecounting
Funds are clLs5ified as either RLStricted or Uftrestriete¢l defined as folloivs:
Restricted funds are funds subject to specific requiremenis as io their use which may be declared by Ihe
donor or with their authorily or creaied thr￿jgh legal processes. but siill within the wider objecis of rhe
charity.
Unresrricted funds are expendable at the discrelion of the Trustees in fU￿¢r￿Ce of the obje¢ts of the
charity_ If parts of the U￿r￿trIcked fund5 are earmarked ￿ the discrtlion of the Ttusiees fot a partlciilar
purpose, they are designated as a separdte fund. This de5ignaiion h&8 an administraiive putpose only and
does noi legally r¢5trirt the Trnste¢s' di￿retiOn io apply the fund.
1.4. Income recognitio
All income is reco#nised once the charity has entitlement to the income, there 15 sufficienl certainty or
receipi and so it is Fyobable that the income will be receive(L and the amount of incorne receivable can
be measured reliably.
Donations aThd Jeg&cie5
tk*nations are recognised when they have l*en communicated in writttig with notification of both the
amount and settlement date. In the event that a donati(m is subject to conditions thai require a level of
perfonnance before the charity is eniiiled io the funds. Ihe income is defeThed and noi recognised until
either those conditii)ns are fvlly met, or ihe fuifilmeni of those condition5 is wholly within the control of
the charity and li is probable thai ihose conditions will be ￿lfIlled in the reponing period.
Legacy gifts are recognised on a case by case b&sis following the grdnting of probate when the
adm1nistrator.'execul￿ for the estate has communiui¢d in writing both the amount and settlem¢nt date.
In the event that the gift is in the forni of an &sset otherthan c&%h ora flnancial asset traded on a recognis¢d
stock exchange, recognition is 5ubjecl to the value of the gift ￿l￿g reliably measurable with a degree of
rea50nabl¢ a¢¢UTa¢y and th¢ titlt io the having transfentd to ihe charity.
14

Churches of God Central Gifts Fund
Notes to the Financial Statementsfor ihe Year Ended 31 December 2023
l. A¢¢ountln% Politks (¢omtirt*td)
Gift Ald
Income tax recoverable on Gift Aid donation5 is recognised when the res&￿tIve dcffiation has been
r¢cognL5td and the recoverable amount of income tax can be rne&sured reliably. this is nornially when
the donor ha5 cwnpleted the relevaDt Gift Aid declaration form. Income recoverable on Gift Aid
donation5 is allocated io the 5arne fvnd as the reSp￿tIve donali(m unless specified by the donor.
Charitable Ac¢ivili¢s
Income from charithble activities includes income earned b(rth from the supply ofgoo& or services uThJer
contractual aTfdngemenls and from wformance-related grants which have condiiions that specify the
provision of particular g(KKts or services to be provided by thecharity. Income from charitable activiiies
is recognised a5 earned (as the related go(Mls or services are provided).
Illvestment ltteome
Inieresi on funds held on deposii is included when receivable and the amount can be me&sur¢d r¢li#bly
by the charity,. this is nornially upon notification of the Intr￿51 paid or payable by the Bank.
1.5. Eipethditure reco8rtitioL
Liabilitics are recogni5ed &% expenditure as %M)n a5 there is a legal or constryctive obligation commitling
the charity io that expenditure. it is prnbable th* settlement will be required and the amount of the
obligation can be me&8ured reliably.
All expenditure is aeeounted for on an accruals b&%is. All expense5 including 5UPPOrt costs and
governance costs are allocated or apwjrtioned to the applicable expendiwre headings. For mo
infonnation on this Ottribution, ref¢r ¢0 Note 5.1 on Fwge 20.
i5ing fund$
Expenditure on raising fvnds includes #ll expendi￿re inth]Tred by a charity to rdi5e funds for its chariiable
purp)se5. It includes the costs of all fundraising aclivities aNJ evenis logether with those cosis incurred
in Seeking don*ion$. grants and legac1￿ and investment managemeni costs.
Charitable a¢liviti¢s
Expendilure on charilable a¢liYities include5 all cosls incurred by ihe chariry in undertaking actlvilies
that further ils charitable aims for the benefii of irs beneficiarie& including ih05e supiffi costs and costs
relating to the governance of the charity apportioned ro chariiable aciiviiies on a basis consistent with the
use of re50urce5. The costs of charithble aciiviiies presented in the Siaiemeni of Financial Activities
includes the c05t5 of both direci service provision and the payments of grant awards if applicable.
Irrteoverabk VAT
I￿ecoverable VA T 15 charged againsi the expenditure heading for which li was incutted.
l.& Foreign curreney
The charity accounts for foreign currency transactions ai the prevailing exchange rate on the date of the
transaciion. Yvdr end balances are converted io Sterling at the prevailing exchange r#te at the Balance
Sheet dale.
15

Churches of God Central Gifts Fund
Notes to the Financial Statementsfor ihe Year Ended31 December 2023
l. ACCOU￿tIng Policies (continu¢d)
.7. Accounting ¢re¥im¢nt of for¢lp projects
The Fellowship Relief Fund Sup￿)n5 projects in several area&
The Malawi Project is managed by the Fellowship Relief Commillee ("FRC") in the UK and
administered locally. The project is controlled by FRC and the Iirdl bank balance is therefore treated a5
an assei of Churches of God Central Gifts Fund which is included ID Debtors In the financial statements.
The Statement of Financial A¢tivities reports the ¥tual projeth expendi￿￿ during the year.
All oiher proj¢¢tssuppMedby FRC aretreated as ouiwith the control of FRC. The Stsiemenl of Financial
Activities reports ihe Chu￿￿¢$ of Gtyj Central Gifts Fund's gift io each project during ihe year.
.& T•xatlott
Churrhes of fj￿j Central Gifts Fund is recognised as a chariry for the purph)ses of applicable thxation
legislaiion and is iherefore noi subject to taxation on its charitabk activities.
.9. Activity b*$ed reporting
Incorne - the dlarity generates onty a small amouni of income from Charitable Activities (Note 3)
undertaken, therefore an analyshs of Intome frffii Charitable Aciiviiies been undertaken.
ExpenditUT¢- the ¢h&rity mainiains ddailed financial records. which allow all costs including support
Costs to be alloeaied to charitable aciivities on a diteci basis. Governance co￿$ are allocated across each
ctivity proportionallj to the direci spend on each activifj". See Noie 5.1.
1.10. Finameial IThstr•ments
The charity only has financial as5et5 and financial liabilities of a kind ihai qualify &s basic financial
instruments. Basic firwicial inslrnTnents are initially recognised ai ttansaction value and subsequently
measured at their Settlement value with ihe excewion of bank loans which are subsequenily measured ai
the ¢arryin8 value plus accrued inierest less repayments.
1.1 l. Flxed assets
Prom". The Charity's proFwty wa5 i%qu¢athed in 2(X)3 and. in accordance with SORP FRS 102, ha5
been included in the financial stat¢m¢nts at the valuation a5 provided in the Confirmation of Executors.
Deprecialion 15 charged on a sirdight line basis over 50 year5 at 2V• per annurn. All tangible &%sets costing
in exces5 of£500 having a valuetothe tharity greattt than one year, otherthan those acquired for specific
purposes, are capitalised.
Depreeiatlort
Depreciation is provided at the following rates caiculaied to write off ihe cosi kss residual value of each
a55et over its expected useful life. as follows:
Motor vehicles:
Office equipmeni-.
Straight line basis at 25Y• per annum.
Straight line basis at 20Yo per annum.
1.12. Fixed A55et Inv¢slments
Investtnent5 are a fomi of basic financial insmtmeni and are initially recognised * theirtransaciion value
and subsequently measured ai their fairvalue as￿ the Balance Sheet d￿e using ihe closing quoied marker
PTi¢¢.
16

Churches of God Central Gifts Fund
Notes to the Financial Statementslor ihe Year Endedjl December 2023
l. A¢¢ountln% PolleKrf (¢onlinued)
The Statement of FsnaTKial Adivitie5 includes the net gains and losses arising on revaluation artd
disposal% throughout the yfdr. Realised gains and losses on inveslments are calculated as the difference
beh¥een sales proceeds and their opening fair value or their purchase value if acquired subsequent to the
fiTSt day of ihe financial year. Untealised gains and losses are calculated as the differenre Ertween the
opening and closing fair values.
1.13. Debtors
Trade and other debtor5 are recognised at the settlemeni amouni du¢ after any discount offered.
Prepayments are valued at the amouni PTepaid after tsking account of any discounts due.
1.14. C#sh at Bank a#d in Halld
Cash ai bank and cash in hand irtcludes eash and Short term highly liquid investments with a short
maturity of three months leks from the date of acquisition or opening of the deposit or similar account.
I.IS. Creditors and Provi%ions
Creditor5 and provKsions are rec(wiised where the charity has a preseni obligation resulting frorn a pasl
event thal will probably result in the transfer of funds to a ihird party and the amount due to Settle the
obligation ¢8n be measured or ￿timated reliably. Creditors and provisions are nornialty reco8ttised at
their 5¢lllemeni amouni after allowing forany trade discounts due.
1.16. Judgements and estimates
In preparing ihe financial staiements. the Trusitts are required io make esiimate$ and 85sumptions which
affeci reported income. expenses. asser& and liabilities. Use of available infornaiion and application of
judgement are inherent in the forniation of esiimaies. iogdher with pa￿ experience and expectations of
future events thai are believed io be reasonable under the circumstances. Actual results tn ihe future could
differ from such estirnates.
.17. iAsing
Rentals payable under o￿ating leases are ¢hary¢d agains¢ in¢ome ￿ a straight-line basis over ihe lease
tem).
17

Churches of God Central Gifts Fund
Note5 to the Financial Stgtementsfor ihe Year E￿￿ed3] Deceniber 2023
2. Donatloms and le%*ties
Unrestricted
Genernl
Designated
Funds
Restricted
FwNds
Totsl
2023
Totgl
2022
BeqUes1￿le8aCles
Assembly Gifts
District Funds
Proceeds of hall sales
Gift Aid donari(ms
Incom¢ Tax on Gift Aid tkntions
Donations (n¢m Gift Aid)
Other Income
195.663
14,123
753,141
228.554
948,804
242.677
623,497
259,042
174.
174,000
230,742
56,187
9.618
281,673
254,281
63,031
25.685
230.742
25,624
4.618
30.564
58
1 662,087
,507209
3. Charilabk Activities
U#rtstricted
G¢n¢r*l
DesigD*ted
Fund
Funds
Restricted
Funds
Tot*1
2023
To¢*1
2022
Levies
6.240
7,140
7.380
7.14
7J80
Investments
Unrestrie¢ed
Genettl
Design*¢fd
Fwnd
Re5tritted
Funds
Totgl
2023
Tot¥1
2022
Interest received
Income from unit trusts
i32
9.901
332
9,901
287
,506
10233
10233
&793
18

Churches of God Central Gifts Fund
Notes to the Finaneial Statementsfor ihe Year Ended31 December 2023
Cost5 ofcharitable activitie5
U•r¢sirirteil
Gemeral
Duignated
Fund
Funds
Restrieted
Funds
Total
2023
Tolal
2022
Gifts to Assemblles
189,112
208 274
Gift$ to Di5tri¢ts
181761
181.761
115,275
Reliefwork:
General relief
India- relief
West Africa (excl CEF)- reli¢f
CEF.- payments to West Africa
Philippines- relief
Malawi relief
South Central Africa
Myanmar- relief
Malawi Project
23,031
23.031
10.655
9,000
48,863
35.1(M)
35,100
16,(
75.1
21,033
31.797
16,(IiKI
75,IOD
21.D33
32.026
27,orKJ
67,584
9.310
39,256
229
171
58
Total Relief e05ts
Cifts for BulldiThg Projects. ReMov8tlDTrS *nd
Repglrs
lrtdia- property
West Afri¢a- property
Philippine5- property
Malawi- property
Mozambique- property
Myanmar. property
290.385
44.816
44110
16260
6,0(M)
7,700
18,780
4.560
1,0
91,8YJ
66,1
91,850
66.1
Total Bulldln% ¢osts
205 150
Outrearh Work:
General QUIr￿ch
India, Myanrnar and t*ilippine5- outreach
Africa- outreach
Radio & Media- outreach
Literdture
6,0(K)
65.292
45,136
16,462
4.385
71292
45,136
16.462
4J85
19.179
156454
32,531
61,195
38.922
9,937
9.299
151884
1.076
Tot¥1 Outr¢4rb costs
Gifts to Ministering Brethrem (UK and
overse#s):
Ministering Brfhren: Gifts ¢0 Lord's Servants
Africa MBS
Far East MBS
149 378
202.779
60,1
202,779
60,160
65,817
60,160
274 383
138851
19

Churches of God Central Gifts Fund
Note5 to the Financi21 Statementsfor the Year Ended3J December 2023
5. Costs of charitable funds (Continued)
Umstrnted
Gewral
Ik$igDated
R¢strict¢d
Total
2(123
Total
2022
Other Admin Costs-
Properry costs
Conference Costs
Leading breihren
General Expenses
Bank Charges
Profil on disposal of fixed assets
Ex¢hange gain
DepT￿lation
10.750
10.750
1&204
900
5,176
6,478
7,768
1,810
(1,979)
(4,876)
18204
9.587
1.755
285
442
9,872
2,197
(3,138)
(3,138)
Total Admin costs
22.092
12.413
Governance Costs:
Audit fees {Noie 8)
Professional fees
TTU5t¢¢5' eX￿nseS
17,520
14,540
446
17,520
14.5411
446
18,450
1.785
810
Total Governanee costs
80.632
5.1. Allocation to ¢haritable getivlty
Dirrfl
charil8bl¢
I Cosls
Governanee
eosts
Adrnin
Total
2023
Total
2022
Activity
Gifts to Assemblies
Gifis to Di51rict5
Relief Work
Building Projects, Renovatioths and Repairs
Outreach Work
Gifts to Lords Servants (UK and oversea5)
189,112
181.761
290.968
205.150
156.454
274.383
38,826
4,738
4,552
8,399
5,138
2,807
6.872
232.676
186J13
308,642
210388
161,458
281.255
231,148
117,802
298,712
56.673
157.058
141,895
9275
2.197
97
50298
Support costs ¢omprise the iiems 1]￿ed below the heading"Other Admin Costs" in Note 5.
20

Churches of God Central Gifts Fund
Tr4otes to the Finaneial St*tementsfor ihe Year Ended31 December 2023
Fund$
Gen¢r41
Fund
Duign•t¢d
Funds
Restricte41
Fund5
Tol*l
2023
Total
2022
Invesknent Managers, fee
9.794
9,084
Net eipthditure for the
year
1023
2022
Iyet expenditure Is stated After ¢b*rgittg:
Depreciation other amount5 written off tangible 155ets
Auditotr5 remunernti
Exchange gain
12.413
17,520
6,839
18,450
Audltor's remunerAtIo
The auditorfs remunerniion c(wtituted 4n #udii fe¢ of £17.520 (2022.. £18,450) and professional fees totslling £15.258
(2022.. £2.450).
St*ff costs
2023
2022
Tothl employment costs (included in N￿e 5 Malawi Pmje
costs)
There were no employees who received rnnllnerati￿ of over £60.(KKI in the year.
19.124
Siaffnumbers
Average full time equivalents
20
10. Tangible Fixed knets
Heritsbk
proptrty
Motor
Vehicle
orrK
Equlpmeni
Total
Cosl
At l January 2023
Additions
Ai 31 DecemErf 2023
32.527
54.2C
86,736
32.527
59.209
Depreclarfon
At l January 2023
Charge for year
At 31 De¢¢mE• 2023
7,808
651
8.459
19.745
27JS3
Ivd Vol*e
At 31 Decernber 2023
At 31 December 2022
24.068
24.719
59.183
Heritsble property comwises a fiat at 48 Mid Siocknt RO￿ Aberdeen. The woperty, which was bequeaih¢d io ihe ¢harity
in 2003. has been inc(Wfdted into the charity's financial statements in accordance wilh the principle% outlined in the
Charities SORP. In this c&se, the cost of the property is the value * the date of the beque￿. The ConfiTm41ion of Ex¢¢utor
allocated a value of £32,527 10 the property
21

Churches of God Central Gifts Fund
Notes to the Finaneial Slatementsfv ihe Year Ep*led 31 December 2023
Investme•ts
2023
2022
Market Value
Murkei value at l Jonu4y 2￿23
Additions
Disposals
Rcvaluation
864.357
9.843
{9.794)
82.199
949,033
8.448
{9.084)
(84.040)
Market value at 31 tkcember 2023
94(605
864J57
Historical Cosi at 31 December 2023
738.289
746,689
I 1.1 Ath#]ysAs of Investments
2023
2022
Markd val￿e 8t yeAr end
Investments listed on a recognised ￿Ock exchange or held in common
investment fund& open ended investmeni companie& unit trusts or other
colleciive investment scheme5.
946.605
864,357
Totsl
946,605
864J57
UK Equity Investhient
Fixed Int¢resi Investments
her Investmenls
25,384
121258
799.963
37.717
95.558
731.082
The charity's inveslments are held primarily for investmeni reNrn.
12.
Debtors
2023
2022
Gift Aid
Other debiors
23,455
325.723
349 178
13.537
625 743
639
22

Churches of God Central Gifts Fund
Notes to the Financial Statementsfor ihe Year Ended 31 December 2023
IJ. Liabllltles: Amounts falling due within one year
2023
2022
(hher crediicrs
Acrrued expenses
Malawi Project Curreni Account
1.260
37.212
12.847
995
32,182
11,058
si
44.235
14.
iThAneial Instruments
2023
2022
Carrylng amount or rinanei*l assets
Fin¥n¢i#l #Wis me&sur¢d at amorti5¢d c05t
Financial assets measured at fair value
1,757,614
946,605
1,454,132
779,680
C*rrying or rinaneial liabililies
Measured ai amortised ¢osi
51,319
44,235
IS An*ly$is of Net Assrts kneeD Funds
Unrestrici¢d
Rtttrl¢t¢d
2023
Total
Funds
F•nd
Fund
Funds
Fund balances at 31 Dettmbcr 2023
&$ rep￿se￿Ie￿ by..
Tangibl¢ Fixed Assd5
Investments
Current As5els
Current Liabilities
51.770
51,770
946.fAI5
,757.614
(51J19
946,(A)5
795.947
[70.2￿j)
961.667
18.881
Net AsJ¢ts
,672J52
51.770
2,71M,670
Unre5tric¢¢d
16. Funds
Investment
g*iMsl(losses)
J8n'23
In¢omt
Exptnditu
Tr*nsfers
31 Def '23
General Fund
1.529.575
425.541
65.957)
82.199
{99,￿)
1.672J52
lJ29375
26S95
99.(K16
23

Churches of God Central Gifts Fund
Notes to the Financial Statementsfor ihe Year El￿ed3] December 2023
Purposes of UDr¢slri¢ted Fund5
General Fund.. This Fund represents gifts and other inc(xne rtteived for ihe objects of the ctwiry witlM)Ut further
sp¢cifi¢d purpose
17. Designa¢fd Funds {Unreslricted)
l J*4'23
Expenditure
Translers
31 Dec'23
DEsi8naied Assets Fund
59,183
(12.413)
51,770
59.183
12,413
51.770
Purposes of Designated Funds
Designated Awt$ FuDd: This Fund rqjrtsents the net I￿￿ value of the charity's fixed assets.
18. Restricted Funds
l JaN'23
Jlleome
ExpendIt￿re
Tr*Thsfers
31 Dee '23
Ceniral Gifts Fund
Lords Servants and Widows Fund
Fellowship Relief Fund Relief
Fellowship Relief Fund- Philippines
Fellowship Relief Fund- Malawi
Fellowship Relief Fund- Myanmar
Felloii'ship Relief Fund- CEF
Fellowship Outreach Fund
Far Easr and Africa Property (FEAP} Fund
Conference of Overseers. Fund
Africa Minisierin8 Brethren's Fund
Far Easi Mini#ering Br#hM's Futhl
88,884
7.750
175,085
329,178
57.857
404,r28
1.5(Kl
36.172
(371,985)
(24.021)
(66.948)
(16,IMM))
(154.665)
(31,797)
(11,09?)
(130,704)
1211.655)
(18,301)
(60,160)
(14,728)
46,077
41.586
351,699
(161,166)
14.500
118.493
20.642
7.531
3,561
208,474
127,546
6.420
47,514
14,814
454.109
531,879
84.109
1251
12,646
9.630
9.221
9,307
1 112056
CeDlr41 Gifts Fund: I I l To receive donations which. iogether with Gift Aid. are paid to the notified beneficiaries. {2) To
Teceive bequests which are distributed ac¢ordin8 io ihe iernis of the last will and testament. (3) To make grants to other fvnds
held by Churche5 of God.
MinisttriTrg Brethren *Thd Wldows Fund: To provide relief io Ministering Brethren or iheir widows where there is a
perceived need.
Fellowship Relief Fund (RelieD: To rettive Ik)natii)n5 whKh. together with Gift Aid where appropriate, provide for relief
at the discretion of Tnjstees.
Fellowship Relief Fuvd (Philipplnes): To receive donations which, together with Gift Aid where approwiat< provide for
relief to the Philippines.
24

Churches of God Central Gifts Fund
Note5 to the Financial Statementsfor ihe Year Ernledjj December 2023
18. Restrkted F￿Thd5 {ContiThued)
Purposes of Restricted Funds (Contimued)
Far East and Afries Property Fu*d: To receive donations which. together with Gift Aid where appropriaie.
Èwovide funding f￿ new church buildings and upgrading of existing ehurehes in the Far East and Afric
ConfereD¢e of OveTsttrs' FuDd.. To receive levies from districts of Churches of God to provide funds for the
Conference of Churche5 of Gixl held every eighteen montlLS and to meet rel￿ed expenses.
Afriea Ministering Brethren's FuDd.' To receive donations which wovide remunerdtion for certain full time Lord's
servanis working in Africa.
Far East mI￿1$ter1￿E Brtthrell's Fund: To re¢eive don¥ti(Nts whi¢h provide ￿muneratIon for fijll lime Lord's
servanis working in Myanmar and the Philippines.
Fellowshlp Rellef Fund (Mal*wl): To re¢¢iwe donations whi¢h. iogether with Gift Aid where approwiate,
provide for relief to Malawi.
Fellowshlp Relltf Fund (My*nm*r): To re¢eive don¥¢ions which. tog￿h¢T with Gift Aid where appropriaie,
provide for relief io Myanmar.
F¢llow5hip Relief Fund (CEF): To receive donations which. iogeiher with Gift Aid where appropriate,
provide for primary and secondary education in Nigeria under the banner of CEF (Comm(mwealth Education
Fund).
Felltswshlp Outre*eh Fllmd: To re¢eiv¢ d(mations whith fimd outreath Jmong Churches of God worldwide.
25

Churches of God Central Gifts Fund
Notes to the Financial Statement5for ihe Year Ended 31 Deceniber 2023
19. Tr4nsf¢rs
VDr¢*lv￿IC1
R¢sLrScMd
Rdtrlcte
Afvbr4
Fknsh4>
Fth*5p
Rdtrf
F*nd
F•
aAf
Pr•p¢rty
Fw
F•nd
Fu•d
F*nd
CEF
U.L09
?J)I
TovJwerFu*Jdrfj<*s
To¢o*et Fupd
20. Operating lease Commitmen¢
At 31 December 2023, the charity had the following financial commilments (Jfter Considerntth of cancellation tern)s) on
service contrdcts..
2023
2022
Expiry date.. Within l year
26

Churches of God Central Gifts Fund
Notes to the Financial Statementsfor ik Year Ernled 31 Dettmber 2023
21.
Transaetions with Truslees
No Trustee received remuneNion from the ch¥ity12022- £nil).
During the year two (2022 - five) Tru5tee5 were reimbursed expenses iotalling £2.931 (2022 - £3,016). the nature of which were
related to their duties as T￿￿tee5 of the charity. In particular these expenses related to."
2022
Me¢¢ing expenses
her expenses
2.876
55
2,695
321
2,931
At ihe year end £nil w&$ pftyable to the Trnsttts for expenses (2022- £nil).
22. Rellted P•rty Transact¥J115
During the year, the Tru5ttts gave donations of £16.101 (2022: £10.320) io ihe charity.
Trustees. rnlationships with churehes of God were Ls follows:
Chris Sutron is a Trll￿ee ofthe prnperty of The Church of G¢MI in wi￿.
Alex Brown is a Truslee of the propenie5 of The Thurch of Gtyj in Wishaw and The Chur¢h of God in Kirkintilloch
(Scottish Charity No. SC047208).
David King is a Trnsiee of the property of The ChuTEh of G￿1 Tn Manchester.
Leonard Burgoyne is & Trusttt of the proF*rty of The Church of God in Ayr (Scottish Charity No. SC047484). He 15 also a
Trnstee of The Church of God in KIlM￿n0¢k SCIO (Scottish Charity No. SC047208).
During the year. the charity received gifts from ihe undernoted Assemblies wsth which ihe charity's Trustees were
associaied.-
Trnstee
t£onard BurgoyDe
Fergus Reilly
Leonard Burgoyne
Alex Brown
David Kin￿DavId Wiyyts
Grneme Hunlerlchris Sutton
Alex Brown
Ayr SCIO
Barrhead
Kilmarno¢k SCIO
Kirkintilloch SCIO
Manchesi¢r
Wigan
Wishaw
1.750
1.743
2,800
11290
9.800
1.670
30.053
27

Churches of God Central Gifts Fund
Notes to the Financial Statem¢nt$fvr Year Ended31 Deceniber 2023
23.
StattmeNt of FiTbxnciil Activitie5 for tht y￿r 31 D¢twb¢r 2fj22
Uttresirictsd
GeDtral
Designated
Futyd
F¥nds
Restricted
Fllnds
2022
Total
Income from:
Donations and legacies
Charitable aclivities
Inv¢slments
807,314
699.895
7,380
I 007,209
7J80
8.793
.793
Total intome
816.107
707275
1.523.382
Expenditure on:
Raising funds
Charitable adivities
(9.084)
{176.901)
{9,084)
(1,003288)
(&839)
(819.548)
Toial
expenditure
{185,985)
(6,839)
(819,548)
(1.012J72)
Net ineomellexpenditure) before pins and losses
on imvestments
630.122
(6.839)
(112,273)
si I,oio
Galns *nd losses on investmenl
assets
Realised gains
Unrealised gains
Total gains on investment 43sel$
84.040
(84.040)
(84,040)
Net incornel(expendltur¢) for th¢
year
546,082
(6,839)
(112,273)
420,970
Trnnsftrs between funds
(55,482)
31.331
24.151
Net Movement in Fumds
4￿.6[￿1
24.492
(88,122)
42&970
Reconcili8tioTh of fund$
Total funds iyoughi forward
1.038.975
34,691
832,801
,906,467
Total funds c*rrled forward
1329,575
S9,183
744,679
2J33,437
Under Charities Statement of Recommended Praciice (FRS 102}. comparJiiv¢s for each ¢la55 of fund5 are required for ea¢h line
on the Statelneni of Financial Aciiviiies (SOFA). The no￿ above illuslrates the SOFA for th¢ y¢ar to 31 Decernber 2022.
28