COMPANY REGISTRATION NUMBER: 02104165 CHARITY REGISTRATION NUMBER: 327396 Siloam Christian Ministries Ltd Company Limited by Guarantee Unaudited Financial Statements 31 December 2024 MATTOCKS GRINDLEY Chartered Accountants 18 Mulberry Avenue Turnstone Business Park Widnes Cheshire WA8 OWN Slloam Christian Ministries Ltd Company Limitsd by Guarantee Financial Staternents Year ended 31 December 2024 Page Trustees, annual report (incorporating the directo¢s report) Independent examiners report to the trustees 14 Statement of financial activities (including income and expenditure account) 16 statement of financial position 17 Notes to the financial statements 19 The following pages do not fonn part of the financial statements Detailed statement of financial activities 33 Notes to the detailed 8tatement of financial activities 34 Siloam Christlan Mlnlstrles Ltd Company Llmlted by Guarantse Trustees, Annual Report (Incorporating the Directorfs Report) Year ended 31 December 2024 The trustees, who are also the director8 for the purposes of company law, present their reFY)rt and the unaudited financial statements of the charity for the year ended 31 December 2024. Reference and adminlstratlve details Registsred Charfty name Sibam Christian Ministries Ltd Charity reglstratlon numbor 327396 Company regl8tratlon number 02104165 Prfn¢lpal office and registered 18 Mulberry Avenue offlce Turnstone Business Park Widnes Cheshire WA80 The trustees Mrs C L Spadernan MrJJEld MrPMGale Mr R P Norton (Appointed 17 September 2024) Independent examlner Glles Mattocks FCA Mattocks Grindley 18 Mulberry Avenu6 Turnstone Business Parf( dnes Cheshire WA8 OWN Structure, governance and management Siloam Christian Ministries Ltd has been incorporated since 26th day of February 1987. It is registered as a Company Limited by Guarantee number 2104165 and is governed by a Memorandum & Articles of Association. The organisation is registered under the Charities Act 1960 number 327396. The organisation currently has four Trustees,. Mr Rtchard Peter Nort(Jn, Mr John Joseph Eld, Mr Peter Michael Gale and Mrs Claire L Spademan. The day to day running of the organisation 18 handled by Mr Richard Peter Norton assisted by 4 members of staff in the office, one of whom is a part-time bookkeeper and hvo of whom are part-time dericavcomputer staff. The Trustees meet at least twice per year fonnally for board meetings and on other occasions to discuss activities of the organisation and future policy. Thrée Truste88 apart from Mr Richard Peter Norton are also bank co-signatories and who are also required to countersign and confimi electronic transfers of funds which are made to our co-workers in the developing world. Siloam Christian Mlnlstrles Ltd Company Limltsd by Guarantee Trustses, Annual Report (Incorporating the Directorfs Report) (¢onthu•d) Year ended 31 December 2024 Structure, governance and management (contlnu•d) RISK MANAGEMENT The Trustees constsntly review the major risks which Siloam faces on a regular basis which relate mainly to the employees and the office at 15a Newbold Street, Leamington Spa. All the project8 s)verseas are independent projects controlled and maintained by their own boards and committees etc. Siloam Christian Ministries in the UK can therefore not be hekl responsible for any eventualities which may occur in the overseas projects we supporL Slloam supports partners that are independent and whilst we have no direct 'Hands On, financial control on how they run their project, Siloam can exercise authority in stipulating how thè money which it raises on their behalF is actually spent. Siloam undertakes this control by insisting on receiving regular audited accounts Irom the various partners It supports. Also, in the case of major projects like the funding of children's bible camps or Christmas parcel outreaches, then Siloam inslsts on seeing coples of the bills or the bills themselves, rf they are not required by the independent enttiy. There is a small financlal risk that Siloam may Spend more on raising funds than Sibam actually re¢elves In response to a malllng but this has very rarety ever happenad and in those few Cases the income target has be•n topped up from funds initially all￿￿ted to Siloam's general fund. Siloam does not actualty employ any staff overseas so there is no risk of Siloam being involved in any labour disputes whth eoukl be a serious drain on UK funds. Also, Siloam does not own any propertRs used or managed by the partners in any countries overseas so Siloam does not have a risk of being involved in costly property disputes wh￿h again could be a source of financial lost. A major risk which could affect Sibam financially. is a risk to Siloam's good reputation, caused by the phystcal or mantal abuse of bene￿larieS or the misuse of funds by any partner which Slloam is fundlng as an overseas partner or funding agent. Siloam takes steps to see that it works with partners who have a history of good character who have been recommended to us by other trustees or other per80ns of authoiity in the various countries where Siloam provides funding and suppo Siloam ts currently updatlng Its records and building in various ¢h8cks to be made by the overseas partners concerning any ¢riminal records of any staff paid or volunteers that they may employ. Also. because Siloam has regular and physical contsct by visiting the partners, Siloam takes steps to check the procedures and activities of the various partners Siloam supports overseas. The Trustees in the UK carry indemnity insurance and our insurance liabilities are regularly reviewed by one of our Trustees who vrns formerly an Insurance Broker. Siloam Christian Mlnistrles Ltd Company Limlted by Guarantse Trustees. Annual Report (Incorporating the Directorfs Report) {contlnwdJ Year ended 31 December 2024 Structuro, gov•rnanco and managom•nt (conunueo) EMPLOYEE ETHNICITY The 5 members of staff of Siloam Christian Ministries comprise a rich diversity of ethnicity. Only Mr Richard Peter Norton the Founder is of Englishllrbsh de￿n( the remaining members of staff are made up of ￿￿tnameS8 -2, Indian Tamil -1 and Pcrtuguese Goan -1. DISABLED EIIIPLOYEES Siloam Christian Ministries has an equal opportunities policy in respect of its fair employment practice relating to age, sex, gender and ethnic background of staff as well as staff who may be considered to be physically challenged. EMPLOYEE INVOLVEMENT AND EMPLOYMENT OF THE DISABLED Siloam is a small Charty and up to the present, the organts*ion has not rgceiv8d applirAtions for employment from anyone who could be considered physically challenged but it would welcome such applications. Slloam has made special opportunities to make employment available for overseas staff coming from ethnic minorities who share the Charitys philosophy about using education. medical aid, Social and other relief as an expression of God's love. The staff are regUla￿Y infomi8d by the Charity'8 Directors on specific matters and all members of staff have right of access and appeal to the Chief Executive and the Board of Tru8tee$. The Charity regularly revi8ws its commitrnont8 under the current heatth and safety legislation and carries insurance for employers, Ilabilty In order to protect the twstees in respect of their legal liabilities for death, injury. illness or disease of empbyees arising out of their work for Sibam. Simllar clawns arising from visitors. volunteers or any other Third Parties as well as propety dama98 is dealt with under the charity's Public Liabilty (or Third Paty) insurdnc8 cover for those working on the Charlty's UK premises and on occasions where the Charity is promoting its ministy for fvndraising and other purposes such as at exhibition venues etc. ObJectlve8 and actlvltle8 The obj'ectives of the charity are to use medical aid, education, social and other relief as an expressron of Go(fs love to Individuals and small groups worldwide. By funding these activities the organisation and its Directors believe that it can have a positive effect upon individuals who have become homeless, dispossessed of their possessions or opportunittes of education or employment through natural causes or war. Siloam Chrlstian Ministries Ltd Company Llmlted by Guarantse Trustees, Annual Report (Incorporating the Directorfs Report) (contlnutdj Year ended 31 December 2024 Achlev•ments and perfonnan¢• CHILD SPONSORSHIP Siloam has been conscious of the fact that many developing countries are more concerned now about Child Protection issues and are therefore b￿ornIng very sensitive about photos and details of children being shared with ovetseas sponsors. Siloam has continued to feature child sponsorship because it meets the need of catsgories of donors who want to have a per80nal relationship with an indbvidual child or young person in another country. But. Siloam does not major on child sponsorship as a means of fundraising for children in the developing world. Siloam is also mindful of the fact that many of our supportors are becoming elderty and perhaps unable to take on the long temi commitment of a regular child sponpjorship commitment and would prefer to sponsor the project 88 a whole in case they are not able through age or infimity to honour their individual ehlld sponsorship in the future. However, Siloam continues to sponsor the following children in 2024 by UK donors". South India - 6 children at the LKJht of Hope MiSs￿n Kerala - project 013 V*tnam - 85 children who each reside in their own homes but who are $p)n8ored for their education - project 043 Kenya 22 Children at Blessed Generatton Children's Home project 022 and 9 children at the Lambwe Christian School for the Deaf - projed 042 and 2 chiklren at the Jirydni Centre - project 004 Peru - 1 child - project 008 Siloam has funded many activities and projects in different parts of the developing world during 2024 which are listed in detsil in our ministy gift grant supplement sheet (the last page of these accounts). During 2024 Siloam continu￿1 to make updates to the Siloam website by taking advantage of an outside consultanl who manages our resrA)nsibilty on an ongoing basis to refine our message and updats our proCedU￿S to attract donations. Siloam also maintains other websites which descrR)e some of the individual projects or activitses which help to attract a wider interast base for those searching the internet. We also have two special websites of an evangelistic nature which are malntained w.bornagain.org,uk and ww.eleventhhoUrrepentist¢hu￿h.Co.uk We also have another website www.givingisgoodforyoJ.¢o.uk encourage and motlvate giving entitled Siloam Christlan Ministries Ltd Company Llmlted by Guarantee Trustses, Annual Report (Incorporating the Directorfs Report) (condnuod) Year ended 31 December 2024 Achi•vem•nts and perfornian¢o (¢¢xthu•dJ Siloam's voluntary Representative for Southeast Asia Mr Don Foster made 1 inspectlon ministry vlsit to Vietnam and th6 Philippines between 19 February and 20 Ma￿h 2024. Sadty, Don was killed in a road accident in October 2024 in Somerset, not far from his home. Don's visits will be greatty missed. However, in 2024 Sibam provided £18,771 in educational Sponsorships project 043 for disan The charity 1$ a public benefit entty and a private company limited by guarantee, registered in England and INales and a registered charity in England and Wales. The address of the reglstered offi¢e is 18 Mulberry Avenue. Tumstone Business Park. Widnes. Cheshire, WA8 OWN. ststement of ¢ompllance These financial ststements have been prepared in compliance with FRS 102, 'The Financial Reportlng Stsndard applicable in the UK and the R8public of Ireland,, the Statement of Recommended practi￿ applicable to charitles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting poll¢l•s Batslts of preparatlon The financial 8tstements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets liabilities and investment properties measured at fair value through income or expendlture. The flnancial ststements are prepared in sterling, which is the fun￿Onal currency of the entity. Going concern There are no materi81 uncertainties 8bout the charity's ability to conlinue. D18¢108ur• ox•mptlons The éntity satiSf￿S the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. Judgem•nts and key sources of 08tlmatlon unc•rtalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and Judgements are continualty reviewed and are ba8ed on experience and other factors, including expecL3tions of future events that are believed to be reasonable under the circumstances. Slloam Christian Ministries Ltd Company Llmlted by Guarantee Notes to the Financlal Ststsmonts (¢onth? Year ended 31 December 2024 Accounting pollcles (Mnonued) Fund accounting Un￿strthd funds are available for use at the discretion of th8 trustees to further any of the charitys purposes Designated funds are unrestricted funds eannarked by the twste88 for particular fvturo project or ommitrnent. Restricted funds are subjected to restrictlons on thelr expendlture declared by the donor or through the tsrnis of an appeal, and fall into one of tsvo sub-classes,. restricted income funds or endowment funds. Incomlng mourc•8 All Incomlng resources are Included In the statement of financial activities when entit￿Mertt has passed to the Charity. it is probable that the ewnomic benefits associated with the transaction will flow to the charity and the amount can be reliably rneasur￿. The following specific polictes are applied to particular categorie8 of in￿rne: income from donations or grants is recognised when there is evidence of entitlement to the gill receipt is probable and its amount can be measured reliably. legacy tncome is r8COgnised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless Ihis is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated rv3ale value. Donated faciliÈies and seNiC£S are recognt8ed in the accounts when received rf the value can be reliably measured. No amounts are included for the contributron of general volunteers. income from contracts for the supply of services is r¢cognlsed wlth the dellvery of the contracted seNlce. This is clasSif￿d as unrestr￿ted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspent. in which case it may b8 regarded as restricted. Siloam Christian Mlnlstries Ltd Company Limlted by Guarantee Notes to the Flnanclal Statements f¢ondnu•d) Year ended 31 December 2024 Accountlng pollcles I￿n￿lU Re8ourco8 oxp•nd Expenditure is recognised on an a¢¢rual8 ba8is as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classsfied under headings of the statement of financial activities to which it relates: expendlture on ratsing fijnds includes the costs of all fundraising activities. events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aim$ for the benefit of its beneficiaries, including those support costs and costs rèlating to the g0Veman￿ of the charity apportioned to charitable activities. other expenditure indudes all expenditure that is neither related to ralsing funds for the charity nor part of its expenditure on charitable activities. I costs are allocated to expendtture categories reflecfjng the us8 of the T&source. Direct costs attributable to a single activty are allocated directty to that actlvity. Shared costs are apportioned beiwe8n the activities they o)ntribute to on a reasonabb, jUStif￿bIe and consistent basls. Tanglblo assets Tangible assets are initSally recorded at cost, and subsequently stated at cost less any accumulated depre¢iatlon and impairment losses. Any tangible assets ¢arrled at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient1088es. An in¢rea8e in the carrying amount of an asset as a resutt of a revaluation, is recognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the ststement of financial activities. A decrease in carrying amount of an assot as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation galn, In which case the loss is shown within other recognised gains and1088es on the ststement of financial activities. D•preclatlon Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual value, over the ￿eful economic lffe of that asset as follows: Fixtures & Fitting8 1 O9h reducing balance Investments Listed investments are initialty recorded at cost and subsequently stated at market value. Inve8tm•nt property Investment pro￿rtY is initially recorded at cost, which includes purchase price and any directly attributable expenditure. 21 Slloam Chrlstlan Ministries Ltd Company Llmlted by Guarantee Notes to the Flnanclal Statsments (con(Inuet¥ Year ended 31 December 2024 Ac¢ounting pollcia8 (contlnued) Investment property {conUnued) Investment propety v3 revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure. If a reliable measure of fair value is no longer availab￿ for an item of investment property, it shall be transferred to tangible a&8ets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Impaimient of fixod assets A review for indicators of impairment is carried out at each reporting date. with the recoverable amount being estimated where 8uth indicators exist. Where the Carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purpos6s of impairment testing, whon It is not possible to 8stimat6 the recoverable amount of an individual asset, an estimate Is made of the recoverable amount of the ¢ash-generating unlt to which the asset belongs. The cash-generatlng unit is the smallest identtfiable group of assets that includes the asset and generates cash inflows that largely independent of th6 rA8h inflow8 f￿rn other assets or group8 of as8ets. For impairment testing of goodwill, the goothill acquired In a buslness combination is, from the aquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of Ihe combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. 8to¢k8 stocks are measured at the lower of cost and eslimated selling price less costs to complete and sell. Cost include8 all costs of purchase, costs of conve￿10n and other costs incurr8d in bringing the stock to its present location and condition. Flnancial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially reccgnised at the amount receivable or payable including any related transaction costs. Current assets and current Ilabilities are subsequently rneasur￿ at the cash or other consideration expacted lo be paid or received and not discount&J. Debt instruments are subsequently measure(l at amortised eA)St Vthere investments in shares are publ￿tY traded or their fair vallte can Othen￿lSe be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. AJI other such investments are subsequanty measured at cost kgss impaimient 22 Siloam Christian Mlnlstrles Ltd Company Llmlted by Guarantee Notes to the Flnanclal Ststsments leontlnuedj Year endod 31 December 2024 Accountlng policies (eonthiuedj Financial instruments (¢onOnu￿) Other financial instruments. including derivatives. are initially recognised at fair value. unless payment for an asset is defeThed beyond nomial business temis or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payments discounted at a marf(et rate of interest for a similar debt instrument. Other financial instruments are subwuently measured at fair value. with any changes re￿JnIS8d in the statement of financial activities, with the exception of hedging instruments in a designated hedging rela￿nShIp. Financial ass8ts that are measured at cost or amortised cost are reviewed for objective evidence of impaimient at the end of each reporting date. If there is objective evidence of impainnent. an impainnent loss is recognised under the appropriat8 headiThJ in the 8tstement of financial activrties in which the initial gain was recognised. For all equity instruments regardless of signiftcance, and other financial assets that are individually significant, these are assessed indmdually for impairment. Other financial assets are either asse&8ed individualty or grouped on the basis of 8tmilar credit risk characteristics. Any reversals of Impalrment are recognlsed Immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Defined contrlbutlon plans Contributions to defined contribution plans are recognised as an expense In the pertod in which the related ser4ice is provided. Prepaid contribution8 are reccgnised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. Ihhen ¢ontrlbutlons are not expected to be settled wholly within 12 months of the end of tha reporting dats in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Llmlted by guarantse The Charity 18 a registered company limited by guarantee and has no share capital. t>onation8 and legacies Unrestricted Funds R88tricted Total Funds Funds 2024 Donatlons Donations Gift Aid 59,266 28.652 180,130 239.392 28,652 Legacles Legacies 20,140 20,140 288,184 108.058 180.130 Slloam Chrlstlan Mlnistries Ltd Company Limlted by Guarantse Notes to the Financlal Ststsments (contlnu• Year ended 31 December 2024 Donatlons and lega¢ie8 (Condn￿rfj Unrestricted Funds R8strict8d Total Funds Funds 2023 Donatlons Donations Glft Aid 59.468 26,400 189,068 248.536 26.400 L•gaci88 Legacies 5.274 1,000 6,274 91.142 190.068 281.210 Inve8tmont Income Unrestrlcted Funds Restricted Total Fund8 Fund8 2024 Income from investment propertles Income from listed investrnents Bank interest receivable 19,401 19.401 237 7.671 237 7,871 27.072 237 Unrestricted Funds Restricted Total Funds Funds 21Y23 Income from investment properties Income from listed investments Bank interest receivabl8 18,188 227 4,187 22,602 18,188 227 4,187 22,602 24 Siloam Chrlstian Ministries Ltd Company Limited by Guarantse Notes to the Flnanclal Statsments {conthu•d) Year ended 31 December 2024 Expendlturn on charitable activitios by fund ty Unrestrided Funds Restricted Total Fund8 Funds 2024 Overseas aid projects Fundraising and publicty Management and administration Support C08ts 2,500 97,794 12,859 8,058 160,217 16,808 214 162,717 114,602 13.073 8,058 121,211 177,239 298A50 Unrestricted Funds Restricted Total Funds Funds 2023 Overseas aid projects Fundraising and publicty Management and administration Support Costs 4,007 92.983 12,287 8,887 118,164 179,920 16,478 1.747 183,927 109,461 14,034 8,887 316,309 198,145 Expenditur• ¢)n charitable activities by actNty typo Activities undertaken directly Support Total fund8 costs 2024 Total fund 2023 Overseas aKI projects Fundraising and publicty Management and administration Governance costs 162,717 114,602 13,073 3,851 166,668 114,602 13,073 4,207 298,460 188,869 109,461 14.034 3,945 316,309 4.207 290,392 8,058 Analy•16 of support Costs Overseas aid projects Governance Total 2024 Total 2023 Prwnises General office Govemance Co￿8 2,618 1,233 2,618 1,233 4,207 3,328 1,614 3,945 8,887 4,207 3,851 4,207 8,058 10. Net Incomel(•xpendltur•) Net in¢omel(expenditure) is stated after chargingl(credttlng): 2024 2023 Depreciation of tangible fLxed assets 405 450 28 Siloam Chrlstlan Ministries Ltd Company Llmited by Guarantse Notss to the Financlal Statements (conllnu6d) Year ended 31 December 2024 11. Independent examlnatlon fees 2024 2023 Fees payable to the independent examiner for: Independent examinats'on of the financial statsments Other financial services 2,520 1,687 4207 2,400 1,545 3,945 12. Staff costs The total staff costs and employee benefts for the reportlng perlod are an8lysed as folk)ws: 2024 2023 Wages and salaries Social security costs Empbyer contributions to pension plans 82,543 79,085 47 1,200 M132 80,332 The average head count of empbyees during the year was 5 (2023: 5). The average number of fulktime equivalent employees during the year is analysed as follows: 2024 No. 2023 No. Number of staff No employee received employee benefits of more than £eo.000 during the year (2023: Nil). 13. Tru8to0 romun•rntlon and •xpon80S One trustee has been paid remuneration or received other benefits from employment with the charity. Mr Rich8rd Norton received a salary of £30,984 for his empk)yment as Director of the charlty. 14. Tangiblo Ilxed a880ts Fixture8 and fittings Total Cost At 1 January 2024 and 31 De¢6mb•r 2024 Depreclatlon At 1 January 2024 Charge for the year At 31 December 2024 30.026 30.026 25.977 405 25,977 405 26,382 26.382 Carrylng amount At 31 December 2024 3,644 4.049 At 31 December 2023 4.049 26 Siloam Christian Mlnlstrles Ltd Company Llmitsd by Guarantee Notes to the Flnancial Statements (conthiu•dJ Year ended 31 December 2024 16. Investm•nts Cash or cash Listed Investment equivalents irniestment8 properties Total Cost or valuatlon At 1 January 2024 Additions Fair value movernents 86.984 6.391 56.490 421.544 564018 6,391 5.007 5.007 At 31 Decembor 2024 93.375 61.497 421.544 576.416 Impalrniont At 1 January 2024 and 31 December 2024 Carylng amount At 31 December 2024 93.376 61,497 56,490 421,544 421,544 676,416 At 31 December 2023 86,984 565,018 All investments shown above are held at valuation. Investsn•nt propertl88 Two investment properties were purchased on 18 December 2017 and are shown in the Financial Statsments at Cost. Rental income is boing raceived and is included in Investment Income in the SOFA. Flnanclal assets hekl at falr value The investments held are ordinary shares in Banco Santander and BT and investment funds held with Schroder Investments Ltd and Aegon {Invesco Perpetual GlobaD. The market Value at 31 December 2024 vms used a8 the basis for determining the fair value. Where the market value is higher than the original cost the gain is shown in the revaluation reseNe. Any m¢y￿rnent in the fair value in the year 18 shown in the SOF The and cash equlvalent figure relates to money held as Loan Stock in Green Pastures CBS Ltd which is eaming interest at 5% per annum. 16. Stocks 2024 2023 Raw materials and consumables 1,000 1,000 17. Debtor8 2024 2023 Trade debtors Prepayments and accrued income 1,871 7,799 9,670 3,682 8.430 12,112 27- Slloam Christian Mlnlstrles Ltd Company Llmited by Guarantee Notes to the Flnanclal Statements fconilnued) Year ended 31 December 2024 18. Creditors: amounts falling due wlthln one year 2024 2023 Trade creditors Accruals and deferred income s￿la1 security and other taxes 2,981 3.680 1,164 7,826 3,565 3.296 3,272 10.133 19. Flnan¢o l•a8•8 and hlr• purchase contracts The charity operates from leased premises at 158 Newbold Street, Leamington Spa. The current lease runs to 31 July 2027 and the lease commitments are as follows: Amount payable within 1 year Amount payable 1-5 years £ 9.624 £15.238 20. Pen81on8 and other post rntlrement bon•fits Deftn•d contrlbutlon plans The amount recognised In income or expenditure as an expan88 in relatK)n to defined contribution plans was £1,200 (2023.. £1,200). 21. Analy818 of ¢haritablo funds Unre6tr1ctsd funds At Gains and 31 Dec 202 losses At 1 Jan 2024 Income Expenditure Transfers General funds 574,336 135.130 (121,211) 15,798 604,062 At Gains and 31 Dec 202 losse8 At 1 Jan 2023 Income Expenditure Transfers General funds 575,073 113,744 <118.164) 17 574,336 28 Siloam Christian Ministrles Ltd Company Llmltsd by Guarantee Notes to the Flnanclal Statements (¢ontlnu641 Year ended 31 December 2024 21. Analy818 of ¢har5table fund8 (eontlnuedj R08tri¢tsd funds At Gains and 31 Dec 202 losses At 1 Jan 2024 Income Expenditure Transfers Restri(*ed Funds Revaluation r6serve 54,763 180.367 (177,239) (15,798) 42.093 34,384 4,998 4,998 39.382 89.147 180,367 (177,239) (15,798) 81,475 At Gains and 31 Dec 202 losses At 1 Jan 2023 Income Expenditure Transfers Restricted Fund5 Revaluation reserve 66,506 190.068 (198,145) (3,666) 54.763 27,691 94,197 6,693 6,893 34,384 190,C68 (198,145) (3,666) 89,147 29 Siloam Christian Mlnlstrles Ltd Company Limited by Guarantee Notes to the Flnanclal Statsments (¢ondnu•d) Year ended 31 December 2024 21. Anatysl8 of charltable funds (conthued) Balance 01101123 Incomlng Outyolng 31112r2024 2 Project Portugal (reserve) 4 SVF Jirani Centre Kenya 6 Rehoboth Centre Philippine8 7 Love In Action Indra 8 Child Sponsorship Peru 9 Sight Saving Ministry India 10 Siloam Gospel Clinic Ghana 11 Christmas Outrwdch, Ukraine - suspended due to the war 12 Ministry of Seth Copeland in Ghana - Heart Transft)miation Ministy 13 Light of Hope Mission India 6,853 287 {2,168) (3.983) (15,648) (150) (346) (4,928) (9.852) 4.685 4.582 16,095 447 355 62 5.886 605 390 3,428 9.100 7,386 7.797 (160 2,092 5,158 (1,986) (5,548) 106 162 $52 14 Trans-mission Partnerships 17 Home Ministry 18 Life Centre Advocacy 19 Children'8 Rescue Ministry in Nepal 20 PRR Romanta 2,257 (2,257) 780 172 92 (824) (20) (35) 400 21 Children's Ministry in India 22 Child Sponsorship BG (Kenya) 26 Aid to Vietnam 31 Christrnas OUtre￿h Guinea Bissau 32 Help to Paklstan's Poor 37 Children's Bible Camps 38 Christmas Parcels Portugal 39 Christmas Parcels Bulgaria 42 Deaf Children in Kenya 43 Child Sponsorship Vietnam 45 Child Supwrt India (1,220) (8,280) (5,309) 4N90 1,267 2,577 7,873 2,873 141 150 12,927 33.175 1.099 18,716 9,281 19,247 (109) (12.201) (31,510) 11,099) (13,666) (10,007) (19.247> {248) 41 726 10.627 8,962 726 1,030 46 Gospel Ministry in India 50 Love to the Needy Israel 63 Sponsorship of Pastor India Sponsor Bible Student India 65 Holistic Ministries 68 med￿al Needs of Children in Kenya 76 Christian Ministry in Peru 77 Extra Gifts-sponsored Children in Vietnam 79 Extra Gifts Blessed Generation 82 Ephesians Christian Academy {Pr&School) 83 Kenya's Needy Children 5,654 4.770 2.506 232 609 23.664 30 {1.276) (24,284) (304) 4.987 4,150 2232 232 549 32 (29) 2.370 226 (2.370) {242) 132 116 1,796 1.000 (1,137) (1,000) 30 Slloam Chrlstlan Ministrles Ltd Company Limited by Guarantse Notes to the Financial Statements (eonbnuo10 Year ended 31 December 2024 21. Analy818 of charitabl• funds {￿￿nued) 85 81blical Training-chrlstlan Leaders in Kenya 87 P & R Collins Mtnistry Reserve 90 Sik)am's Christian Character Programrne 99 Ukraine Emergency 100 Evangelstic Outreach 7,862 17.862) (3,226) 22,582 19.336 170 7.519 192 2,882 3,564 (24) (62161 (3A64> 338 4,185 89,147 194,669 (202,341) B1,475 22. Analysls of net assets between funds Unrestricted Funds Restricted Total Fund8 Funds 2024 Tangible fixed assets Investments Current assets Creditors less than 1 year N•t a880t8 515,000 93,244 (7,826} 604,062 61,416 20,059 576,416 113,303 {7,826> 685,537 81,475 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Investments Curr8nt assets Creditors less than 1 year Net asset4 4,049 482,389 93,805 {10,133) 570.110 4,049 538,807 130,760 (10,133) 663,483 56,418 36.955 93,373 31 Slloam Chrlstlan Mlnlstrles Ltd Company Limitsd by Guarantee Management Infomiatlon Year ended 31 December 2024 The following pages do not forni part of the finan¢lal 8tat•mgnts. 32 Slloam Chrlstlan Mlnlstrles Ltd Company Llmited by Guarantee Detsiled Statement of Flnancial Actlvities Year ended 31 December 2024 2024 2023 Incom• and ondowmont8 Donatlons and legacles Donations Gift Aid Legacies 239,392 28,652 20.140 248,536 26,400 6,274 281.210 288,184 InveslJn8nt income Incorne from investrnent properties Income from listsd investments B8nk interest receivable 19.401 237 7,671 27,309 18,188 227 4,187 22.602 Total Inc¢)mo 315h93 303,812 Exp•ndituro Expendltur• on Charltable a¢tlvltle8 Wages and salarias Employerfs NIC Pension costs Reni Repairs and maintenance Other establishment Motor vehicle expen8éS Legal and professional fees Telephone Other Offi￿ costs Depreciation Financtal assistsnce Bank charges Advertising and promotion Financial assi8tanr2 to other organisations 82.543 389 1,200 10,346 473 2,618 1,187 7.881 634 14.137 79,085 47 1,200 10,345 877 3,328 1,787 7,317 657 12.273 450 178.100 2,551 16,516 1.776 169,031 14,753 506 298,460 316,309 Total oxpendlture 298.450 316,309 Not Incom•l(expendlture) 17,043 (12,497) 33 Siloam Christian Ministries Ltd Company Llmited by Guarantee Notes to the Detalled Statement of Flnanclal Actlvltles Year ended 31 December 2024 2024 2023 Expendlture on charltable actmtles Over8eas ald projects A¢tlvltles undertakm dlrectly Travel Financial assistance Bank Gh8rg8s Financial assistance to other organisattons 832 159,031 2,348 1,500 178.100 2,551 1,776 183,927 162,717 Support costs Repairs & maintenance Premises costs Travel Depreciation 473 2,618 355 877 3,328 287 450 3,861 4,942 Fundra181ng and publlclty Activltles undertak•n directly Staff costs Employels NIC Pension costs Legal and professional fees Postage Advertising and promotion 82.643 389 1,200 3,674 12,245 14,551 114,602 79,085 47 1,200 3.372 10,536 15,221 109,461 Manag•ment and admln18tratlon Aetlvhle8 undertaken dlrectly Operatlng leases - land and buildlngs Telephone Other office costs Exhibitions and conferences 10,346 634 1,892 202 10,345 657 1,737 1,295 13,073 14,034 Gov•rnan¢• ¢osts Govemanc• costs - accountancy fees 4,207 3,945 Expendlture on ¢harftablo aGtlvltle8 298,450 316,309 34- MINISTRY GIFTS DISBURSED TO PROJECTS WORLDWIDE - 2024 PROJECT NUMBER RECIPIENT £ VALUE 004 Jirani Boys, Home - Sist8r Veronica's Foundation - Kenya Rehoboth Baby Rescue Centre - Phillppines Spe¢ial gift of compassion for late widows son - India Child sponsorship - P8ru Eye ministry - IrKlia Siloam Gospel Clinic- Ghana, tobydrds refurbishment Seth Copeland - Heart Transfonnation Ministry - Ghana Light of Hope Mission - Kerala - India Trans-mission Partnerships - Romania l Ukraine Life Centre Advocates - Peru Children's ministry in India via Porur Evangelical Church Blessed Generation Children's Centre - Kenya Aid to Wietnam - New houses to be built Aid to Gulnea-Bissau - Special Christmas Food Outreach Help to Pakistan's poor- Joseph & Rose Barkays 'Footsteps MinistrFes' Children's summer I winter Bible camps Christmas food parcel outreach - Azores (Portugal) Christmas food parcel outreach - Bulgarla . Lambwe Christmas School for the Deaf- Kenya Child Sponsorship in Vietnam Child support- India Gospel Ministry - India Love to the Needy, . Israel Sponsorship of pastors - India Christian social work ministry - Peru Birthday and Christmas gifts for sponsored children - Vielnam Birthday and Christmas gtfts for sponsored children - Kenya Ephesians Christian School - Phifippine8 Outreach to Kenya's needy children Bible Training for Christian Leaders in Kenya - Paul Mwangangi Ukraine Erner9ency Ongoing Crisis Support £3.410.00 £12.691.66 £150.00 £297.00 £4,500.00 £7280.00 £1,725.00 £4,903.02 £1,908.00 £710.63 £1,200.00 £7,288.00 £4.950.00 £2.057.25 £9,199.00 £22,785.65 £1,059.23 £8,500.00 £8,876.00 £16,771.20 £206.00 007 010 012 013 014 018 021 026 031 032 037 038 039 042 043 045 £1,200.00 £19,001.84 £300.00 050 076 £25.00 on 079 082 083 £2,047.25 £214.00 £912.81 £1,000.00 £7.862.00 £6.000.49 099 SUB TOTAL £159,031.03 PLUS: Gift subscrlptlons for overseas co-workers in Bulgaria. Ukraine, Ghana, Romania. Gemlany, India and Poland to.. creation.com and distribution of 'Good News. newspapers ts evangelism In UK. 100 £506. GRAND TOTAL £1&4 FUNDRAISING REGULATOR