**REGISTERED CHARITY NUMBER: 328110**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **FOR**
## **SHARING CHRIST INTERNATIONALLY**
Sedulo Leeds Limited St Paul's House 23 Park Square Leeds West Yorkshire LS1 2ND
**SHARING CHRIST INTERNATIONALLY**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
**----- Start of picture text -----**
Page
Report of the Trustees 1 to 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 13
Detailed Statement of Financial Activities 14
**----- End of picture text -----**
**SHARING CHRIST INTERNATIONALLY**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
The trustees present their report with the financial statements of the charity for the year ended 30 June 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objectives of the charity are set out in its Trust Deed. The primary purpose of the charity is the advancement of the Christian Faith throughout the world.
For security purposes, given that the charity operates and provides support in countries where there is opposition to Christianity and antagonism at best and persecution at worst can at times be experienced when engaged in Christian work, the identity of the countries in which the charity operates outside the United Kingdom and the identity of organisations in those countries with compatible aims which the charity works with and supports ('partner organisations'), are not disclosed in this report and financial statements. However, the charity actively promotes the spread of Christianity in several countries in Asia, Europe and America.
## **Significant activities**
The trustees have paid due regard to the guidance on public benefit published by the Charity Commission. In this respect, during the year ended 30 June 2021, the trustees have focussed on:
- Improving its own and partner organisations' logistical efficiency. This has included attempts to increase the number
- - of the charity's volunteers.
- Organising volunteers working outside the UK supporting local evangelistic mission. Promoting access to the Bible and Christian literature for non-English speaking people in their own country and
- - language.
- Mentoring via Skype and email, and supporting online ministry globally.
- Supporting several international prayer meetings, keeping participants and supporters well informed and involved.
- The translation of the Bible into an increasing number of languages and scripts. Monitoring the political situation in the regions of the world that the charity operates in, and providing information
- both to missionaries, other field personnel, partners and prayer groups.
- Circulating a monthly news and prayer letter to over 700 individuals around the world.
- Providing Biblical ministry through speaking engagements, fraternities and conferences.
- The Trustees now have access to the Trust Advice training library, and are reviewing policy documents.
- Being proactive in our engagement with and encouragement of new and existing donors.
- Reducing overhead costs where possible to maximise the resources available to meet the charity's objectives.
## **Public benefit**
The trustees confirm that throughout the year and since then they have considered the guidance provided by the Charity Commissioners on public benefit when reviewing the charity's objectives and directing its activities.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Sharing Christ Internationally in UK has coordinated regular meetings and supported the distribution of Christian literature in the UK and overseas. For the reasons given above in the section on Objectives and Activities, 'Objectives and aims', for security reasons the identity of these overseas countries is not disclosed, nor is the identity of partner organisations in these countries. During 2020 and 2021 opportunity to travel overseas was curtailed due to the COVID-19 pandemic.
Page 1
**SHARING CHRIST INTERNATIONALLY**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
## **FINANCIAL REVIEW**
## **Financial position**
The charity had net outgoing resources during the year of £35,201 (2020: £19,260). The largest component of the outgoing resources was the provision against the loan advanced to a partner organisation to fund the publishing of the Bible in the country in which it operates in the period to May 2016 which is more thoroughly covered at note 3 to the financial statements on page 8.
Details of the charity's income and expenditure in the year are shown in the Statement of Financial Activities on page 5.
As at 30 June 2021 the charity had unrestricted funds of £129,575 (2020: £109,042), and restricted funds of £95,279 (2020: £108,137). Full details of the purpose and movements on the restricted funds during the year are provided at note 12 to the financial statements.
The trustees consider that this level of reserves is adequate for the charity to continue its activities for approximately one year after the balance sheet date. The trustees are generally mindful that in recent years expenditure has exceeded income and they are therefore currently looking at ways of increasing income.
Funds held in excess of the charity's day to day requirements are held in a Money Market account with HSBC Bank Plc.
## **Going concern**
In common with virtually every other charity in the country, Sharing Christ Internationally has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Charity cannot be assessed with complete certainty at the current time, the Trustees believe they have taken all possible steps to protect the Charity including accessing relevant Government assistance.
At the time of signing these accounts the Trustees are of the opinion that the Charity will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is controlled by its governing document, a Declaration of Trust dated 26 January 1988, as amended by a Supplemental Deed dated 22 August 1997.
## **Recruitment and appointment of new trustees**
Trustees are appointed by a resolution of the Board of Trustees recorded in the minutes and signed by the new trustee. When appointing new trustees the Board takes into account that it is practicable to do so and that the appointee will augment the skills and experience of the Board of Trustees as a whole.
## **Organisational structure**
While the trustees engage with the operations of the charity at the strategic level, the day-to-day management of the finance function of the charity is delegated by the Board of Trustees to Dr S DeSmet, while the Executive Function of the charity is discharged by the members of the Mission Board which consist of the Trustees and four experienced volunteers.
Page 2
**SHARING CHRIST INTERNATIONALLY**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees**
The charity has not adopted specific policies for the induction and training of trustees. In 2021 all the Trustees received training from Trust Advice. The Board are mindful of the need for trustees to keep abreast of developments in charity law and Best Practice, especially with regard their fiduciary duty and their duty to volunteers. The charity is an associate member of Global Connections which gives access to resources and training. It is also an associate of Affinity, a network of Christian churches and agencies throughout the United Kingdom.
## **Related parties**
Since its inception the charity has focussed on spreading the word of God, and provides pastoral and financial support to partner organisations overseas with compatible aims in order to fulfil its objectives. For the reasons given above in the section on Objectives and Activities, 'Objectives and aims', for security reasons the identity of these organisations is not disclosed in this report.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
328110
**Principal address** Box 351 London W10 5GB
## **Trustees**
Mr E R Davies Dr S DeSmet Mrs V E Halliday Mr R L Hinton Mr R Madden Mrs A D Patterson Mr D S Rowlands (resigned 29.4.21)
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... Dr S DeSmet - Trustee
Page 3
## **SHARING CHRIST INTERNATIONALLY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
61,171
Investment income
2
5
**Total**
61,176
**EXPENDITURE ON**
**Charitable activities**
General charitable activities
25,720
Governance
1,160
**Total**
26,880
**NET INCOME**
34,296
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
95,279
**TOTAL FUNDS CARRIED FORWARD**
129,575|Restricted
funds
£
17,824
-
17,824
16,918
1
16,919
905
108,137
109,042|30.6.21
Total
funds
£
78,995
5
79,000
42,638
1,161
43,799
35,201
203,416
238,617|30.6.20
Total
funds
£
51,043
100
51,143
23,781
8,102
31,883
19,260
184,156
203,416|
|---|---|---|---|
The notes form part of these financial statements
Page 4
## **SHARING CHRIST INTERNATIONALLY**
## **BALANCE SHEET 30 JUNE 2021**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
108,842
**CURRENT ASSETS**
Debtors
7
3,333
Cash at bank
32,742
36,075
**CREDITORS**
Amounts falling due within one year
8
(2,182)
**NET CURRENT ASSETS**
33,893
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
142,735
**CREDITORS**
Amounts falling due after more than one year
9
(13,160)
**NET ASSETS**
129,575
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
109,042
109,042
-
109,042
109,042
-
109,042|30.6.21
Total
funds
£
108,842
3,333
141,784
145,117
(2,182)
142,935
251,777
(13,160)
238,617
129,575
109,042
238,617|30.6.20
Total
funds
£
111,213
3,793
108,137
111,930
(6,567)
105,363
216,576
(13,160)
203,416
95,279
108,137
203,416|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Dr S DeSmet - Trustee
The notes form part of these financial statements
Page 5
**SHARING CHRIST INTERNATIONALLY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The Financial Statements are prepared in sterling which is the functional currency of the charity.
## **Going Concern**
In common with virtually every other charity in the country, Sharing Christ Internationally has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Charity cannot be assessed with complete certainty at the current time, the Trustees believe they have taken all possible steps to protect the Charity including accessing relevant Government assistance.
At the time of signing these accounts the Trustees are of the opinion that the Charity will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 6
**SHARING CHRIST INTERNATIONALLY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## **2. INVESTMENT INCOME**
|30.6.21
30.6.20
£
£
Deposit account interest
5
100|
|---|
|**3.**
**SUPPORT COSTS**
Governance
costs
£
Governance
1,161|
|Support costs, included in the above, are as follows:
**Governance costs**
30.6.21
30.6.20
Total
Governance
activities
£
£
Accountancy
1,150
1,380
Bank & credit card charges
11
652
Exceptional items
-
4,350|
|1,161
6,382|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 June 2021 nor for the year ended 30 June 2020.
continued...
Page 7
**SHARING CHRIST INTERNATIONALLY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
**----- Start of picture text -----**
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 31,026 20,017 51,043
Investment income 100 - 100
Total 31,126 20,017 51,143
EXPENDITURE ON
Charitable activities
General charitable activities 15,897 7,884 23,781
Governance 8,102 - 8,102
Total 23,999 7,884 31,883
NET INCOME 7,127 12,133 19,260
RECONCILIATION OF FUNDS
Total funds brought forward 88,152 96,004 184,156
TOTAL FUNDS CARRIED FORWARD 95,279 108,137 203,416
6. TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 July 2020 and 30 June 2021 122,580
DEPRECIATION
At 1 July 2020 11,367
Charge for year 2,371
At 30 June 2021 13,738
NET BOOK VALUE
At 30 June 2021 108,842
At 30 June 2020 111,213
**----- End of picture text -----**
continued...
Page 8
**SHARING CHRIST INTERNATIONALLY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
**----- Start of picture text -----**
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.21 30.6.20
£ £
Other debtors 3,333 3,793
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.21 30.6.20
£ £
-
Bank loans and overdrafts (see note 10) 1,251
Taxation and social security 75 -
Other creditors 2,107 5,316
2,182 6,567
9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.21 30.6.20
£ £
Other creditors 13,160 13,160
10. LOANS
An analysis of the maturity of loans is given below:
30.6.21 30.6.20
£ £
Amounts falling due within one year on demand:
Bank overdrafts - 1,251
Amounts falling between one and two years:
Other loans - 1-2 years 13,160 13,160
**----- End of picture text -----**
continued...
Page 9
**SHARING CHRIST INTERNATIONALLY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **11. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Partner organisation fund
Missionary fund
Hymn books
Scripture
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Partner organisation fund
Missionary fund
Scripture
**TOTAL FUNDS**|At 1.7.20
£
95,279
5,809
16,321
5,087
80,920
108,137
203,416
Incoming
resources
£
61,176
2,702
14,707
415
17,824
79,000|Net
movement
At
in funds
30.6.21
£
£
34,296
129,575
(5,263)
546
5,753
22,074
-
5,087
415
81,335
905
109,042
35,201
238,617
Resources
Movement
expended
in funds
£
£
(26,880)
34,296
(7,965)
(5,263)
(8,954)
5,753
-
415
(16,919)
905
(43,799)
35,201|
|---|---|---|
continued...
Page 10
**SHARING CHRIST INTERNATIONALLY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **11. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.7.19
£
**Unrestricted funds**
General fund
88,152
**Restricted funds**
Partner organisation fund
420
Missionary fund
9,577
Hymn books
5,087
Scripture
80,920
96,004
**TOTAL FUNDS**
184,156
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
31,126
**Restricted funds**
Partner organisation fund
5,444
Missionary fund
14,573
20,017
**TOTAL FUNDS**
51,143|Net
movement
At
in funds
30.6.20
£
£
7,127
95,279
5,389
5,809
6,744
16,321
-
5,087
-
80,920
12,133
108,137
19,260
203,416
Resources
Movement
expended
in funds
£
£
(23,999)
7,127
(55)
5,389
(7,829)
6,744
(7,884)
12,133
(31,883)
19,260|
|---|---|
continued...
Page 11
**SHARING CHRIST INTERNATIONALLY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **11. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Partner organisation fund
Missionary fund
Hymn books
Scripture
**TOTAL FUNDS**|At 1.7.19
£
88,152
420
9,577
5,087
80,920
96,004
184,156|Net
movement
in funds
£
41,423
126
12,497
-
415
13,038
54,461|At
30.6.21
£
129,575
546
22,074
5,087
81,335
109,042
238,617|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Partner organisation fund
Missionary fund
Scripture|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
92,302
(50,879)
41,423
8,146
(8,020)
126
29,280
(16,783)
12,497
415
-
415|
|---|---|
||37,841
(24,803)
13,038|
|**TOTAL FUNDS**|130,143
(75,682)
54,461|
"Partner organisation fund" holds donations received for passing on to the partner organisations overseas with compatible aims to those of the charity which the charity works with and supports.
"Missionary fund" holds donations received and payments made for the personal support of missionaries working in the world at large to bring the charity's aims to fruition.
"Hymn Books" is in respect of monies donated to the charity to be used for the printing of hymn books in the language of an overseas country in which it operates.
continued...
Page 12
**SHARING CHRIST INTERNATIONALLY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **11. MOVEMENT IN FUNDS - continued**
"Scripture" is in respect of donations received for printing the Bible in the language of a country in which the charity operates, yet to be expended on a possible second print run should demand require it.
"Contingency fund" is in respect of monies set to one side in the past by the trustees to meet unforeseen expenditure demands. However, with the improvement in the charity's financial controls this is no longer deemed to be necessary and has been transferred to the General Fund in the year.
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 June 2021.
Page 13
**SHARING CHRIST INTERNATIONALLY**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid|30.6.21
30.6.20
£
£
75,662
45,549
3,333
5,494|
|---|---|
|**Investment income**
Deposit account interest|78,995
51,043
5
100|
|**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Advertising
Donations
Missions
General office expenses & travel
Bibles print, storage & transportation
Subscriptions
Depreciation of freehold property|79,000
51,143
17,433
5,266
265
1,265
12,954
7,826
5,649
6,360
3,815
2,413
151
-
2,371
2,371|
|**Support costs**
**Governance costs**
Accountancy
Bank & credit card charges
Exceptional items|42,638
25,501
1,150
1,380
11
652
-
4,350|
||1,161
6,382|
|Total resources expended|43,799
31,883|
|**Net income**|35,201
19,260|
This page does not form part of the statutory financial statements
Page 14