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2022-12-31-accounts

Charity registration number 801113

Company registration number 02350178 (England and Wales)

THROUGH FAITH MISSIONS

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

THROUGH FAITH MISSIONS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees And Directors

P A Sammons J R Borton P Preston A Males (Appointed 18 April 2023)

Charity number 801113 Company number 02350178 Registered office 18 Tannery Road Sawston CB22 3UW Independent examiner Ensors Accountants LLP Victory House Vision Park Chivers Way Histon CB24 9ZR

THROUGH FAITH MISSIONS

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 14

THROUGH FAITH MISSIONS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees and directors present their annual report and financial statements for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The Trustees have referred to the Charity Commission’s general guidance on Public Benefit when reviewing our aims and objectives and in planning the charity's future activities and believe that the activities of the charity clearly demonstrate a direct public benefit.

The charity's objects and powers are to advance, promote and maintain the Christian Faith. In summary, the

charity achieves these objectives by the following activities;

The outworking of these objects is demonstrated in the activities detailed in the review of the year.

Review of the Year

All the staff have been involved in outreach. Missions were held in Basingstoke, Torbay, Lynn Peninsula and Rushden as well as a major mission called Peddars Way. TFM also hosted a stall at the Greenbelt festival and assisted a local pastoral team at the Download festival.

Peddars Way followed the footpath of the same name in Norfolk and involved 2 teams over 2 weeks going unplanned and with no prior arrangements to see what conversations and connections arose. Both teams made significant contacts and were able to share the gospel with many people and in many different communities.

Training events were held at Laxford, Peterborough, Reading, Rushden, Thornton, Washington and Wyesham as

well as an online course on Prophetic Evangelism.

We were delighted to be able to hold our annual conference in June 2022 and nearly 40 people were able to gather together (lower than last year as people were still concerned about meeting in groups we think). It was a wonderful occasion.

Following a long period of working from home, we took on new office premises in February 2022 to allow the admin staff to work together again and also bring a lot of our resources out of storage. This made for a more efficient and pleasant working environment. All the staff were able to meet together regularly, rather than just rely on video calls.

THROUGH FAITH MISSIONS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Communications

We continue to develop our communications with supporters and churches with whom we work.

The new database system established in 2021 was consolidated and integrated with working practices. Developments continue to make communications better.

A refresh of the website also ensured that our operations and activities were clearly presented.

Looking forward

Future Missions in the UK

During 2023, a number of missions and training events are planned although we are noticing that churches and groups remain quite reserved in their outlook. We will have to see how this develops through the year.

Staff Appointments

There have been no staff changes during the year.

Financial review

The results for the year are set out in the attached financial statements. The charity had income of £124,040 (2021 - £179,613), while £162,703 (2021 - £157,149) was expended on charitable activities. Unrestricted funds at the yearend amounted to £90,441 (2021 - £123,637). Restricted funds at the yearend amounted to £10,463 (2021 - £15,930). Charity reserves amounted to £87,854 (2021 - £121,162).

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be between three to six months' worth of the resources expended, although it is expected the amount will sometimes be higher than this depending on the timing of donations. At this level, the Trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding. In the event of such an occurrence, it would obviously be necessary to consider how the funding would be replaced or activities changed. The reserves at year end are in excess of this target amount, but they have reduced during the year and the Trustees are confident that they will not prove excessive in the long run.

Risk management

The trustees and directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The directors have implemented a risk management strategy which comprises:

Fund Raising

The charity relies on gifts and donations from individuals and churches. It does not receive any routine income from denominations or organisations. It does not charge for its work other than the covering of certain expenses such as travel costs.

As a routine, the Charity does not fundraise although keeps supporters informed of our financial standing. An increasing amount of funds are received from legacies for which we are very grateful.

THROUGH FAITH MISSIONS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management

The organisation is a charitable company limited by guarantee incorporated, in England and Wales, on 21 February 1989 and subsequently registered with the Charity Commission on 11 April 1989. The Company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association, amended by special resolution on 16 April 2013 to comply with the provisions of the Companies Act 2006.

The members of the board of trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

P A Sammons J R Borton V Jacobs (Resigned 19 July 2022) C A Richards (Resigned 18 October 2022) P Preston D Searle (Resigned 10 June 2022) A Males (Appointed 18 April 2023)

Trustees

There were no new Trustee appointments during the year, however we are pleased to say that since year end we have appointed Dr Antony Males. We also said farewell to Donna Searle, Val Jacobs, and Carol Richards during the year, and would like to thank them for everything they did for the charity.

The Trustees met with the staff on a 3-day retreat in December at Launde Abbey to consider operational issues and strategic direction.

Governance and management

The day-to-day management of the charity is delegated to senior staff.

The charity relies upon the contribution of unpaid volunteers for all mission activities.

The key management personnel are the directors who are also the Trustees for Charities Act purposes. The directors are not remunerated. The annual staff salaries review is discussed by the full Trustee board following recommendations made by the charity Administrator.

Trustees are appointed by invitation of the existing Trustees.

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

P Preston

Trustee Dated: 18 July 2023

THROUGH FAITH MISSIONS

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES AND DIRECTORS OF THROUGH FAITH MISSIONS

I report to the trustees and directors on my examination of the financial statements of Through Faith Missions (the charity) for the year ended 31 December 2022.

Responsibilities and basis of report

As the trustees and directors of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Ms J Boatfield ACA, DChA Ensors Accountants LLP

Victory House Vision Park Chivers Way Histon CB24 9ZR

Dated: 31 August 2023

THROUGH FAITH MISSIONS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and
legacies
3
118,367
-
Income from
charitable activities
5
4,467
-
Investments
4
1,206
-
Total income
124,040
-
Expenditure on:
Charitable activities
6
157,236
5,467
Gross transfers
between funds
-
-
Net (expenditure)/income
for the year/
Net movement in funds
(33,196)
(5,467)
Fund balances at 1 January
2022
123,637
15,930
Fund balances at 31
December 2022
90,441
10,463		 Total
Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
118,367
154,559
19,000
4,467
5,598
-
1,206
456
-
124,040
160,613
19,000
162,703
153,954
3,195
-
(125)
125
(38,663)
6,534
15,930
139,567
117,103
-
100,904
123,637
15,930		 Total
2021
£
173,559
5,598
456
179,613
157,149
-
22,464
117,103
139,567

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THROUGH FAITH MISSIONS

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
Fixed assets
Tangible assets
11
Current assets
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
15
Unrestricted funds		 2022
£
1,761
2,793
98,921
103,475
(5,158)		 £
2,587
98,317
100,904
10,463
90,441
100,904		 2021
£
1,084
2,484
138,180
141,748
(4,656)		 £
2,475
137,092
139,567
15,930
123,637
139,567

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees And Directors on 18 July 2023

P Preston

Trustee

Company Registration No. 02350178

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2022

THROUGH FAITH MISSIONS

1 Critical accounting estimates and judgements

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

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

2 Accounting policies

Charity information

Through Faith Missions is a private company limited by guarantee incorporated in England and Wales. The registered office is 18 Tannery Road, Sawston, CB22 3UW.

2.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

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

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2 Going concern

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

2.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees and directors in furtherance of their charitable objectives.

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

2.4 Income

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

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

THROUGH FAITH MISSIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

2.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

2.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment Straight line over 4 years Fixtures and fittings Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

2.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

2.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

2.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THROUGH FAITH MISSIONS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

2 Accounting policies

(Continued)

2.10 Financial instruments

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

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

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

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

3 Donations and legacies

Unrestricted
Unrestricted
Restricted
funds / Total
funds
funds
2022
2021
2021
£
£
£
Donations and gifts
112,655
154,059
19,000
Legacies receivable
5,712
500
-
118,367
154,559
19,000		 Total
2021
£
173,059
500
173,559

THROUGH FAITH MISSIONS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

4 Investments

**Unrestricted ** Unrestricted
funds funds
2022 2021
£ £
Interest receivable 1,206 456
Income from charitable activities
2022 2021
£ £
Missions 628 830
Conferences and Training Events 2,107 1,795
Sales of Literature and Customised goods 1,732 2,973
4,467 5,598

5 Income from charitable activities

THROUGH FAITH MISSIONS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

6 Charitable activities

Wages and salaries
Social Security costs
Pension contributions
Gifts and Honorariums
Missions
Conferences and Training Events
Literature and Customised Goods
Office expenses
Publicity and Printing
Motor Expenses and Travelling
Repairs and maintenance
Loss on disposal of tangible assets
Share of governance costs (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 2022
£
116,470
5,351
3,446
-
5
3,812
1,460
17,839
154
6,166
-
-
154,703
8,000
162,703
157,236
5,467
162,703		 2021
£
108,700
4,908
3,261
403
-
5,852
2,271
16,290
2,308
5,624
110
52
149,779
7,370
157,149
153,954
3,195
157,149

7 Trustees And Directors

None of the trustees and directors (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Governance costs

Governance
costs
£
Independent examiner's fees
636
Other accountancy fees
7,364
8,000
Analysed between
Charitable activities
8,000		 2022
Governance
costs
£
£
636
768
7,364
6,602
8,000
7,370
8,000
7,370		 2021
£
768
6,602
7,370
7,370

THROUGH FAITH MISSIONS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

9 Employees

Number of employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Ministers 3 3
Administrator 1 1
Part-time secretaries 1 1
5 5

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

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Tangible fixed assets

Plant and
equipment
Fixtures and
fittings
£
£
Cost
At 1 January 2022
761
33,730
Additions
-
1,989
At 31 December 2022
761
35,719
Depreciation and impairment
At 1 January 2022
761
31,254
Depreciation charged in the year
-
1,878
At 31 December 2022
761
33,132
Carrying amount
At 31 December 2022
-
2,587
At 31 December 2021
-
2,475
12
Stocks
2022
£
Finished goods and goods for resale
1,761		 Total
£
34,491
1,989
36,480
32,015
1,878
33,893
2,587
2,475
2021
£
1,084

THROUGH FAITH MISSIONS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

13 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income		 2022
£
20
2,380
393
2,793
2022
£
814
571
3,773
5,158		 2021
£
70
2,082
332
2,484
2021
£
468
1,364
2,824
4,656

14 Creditors: amounts falling due within one year

15 Funds

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

Movement in funds
Balance at Incoming Resources Balance at
1 January 2022 resources expended 31 December
2022
£ £ £ £
Provision of new office facilities 15,930 - (5,467) 10,463
Unrestricted funds 123,637 124,040 (157,236) 90,441
139,567 124,040 (162,703) 100,904
Analysis of net assets between funds
Unrestricted Restricted
**Total **		 Unrestricted Restricted Total
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Fund balances at 31
December 2022 are
represented by:
Tangible assets 2,587 - 2,587 2,475 - 2,475
Current assets/(liabilities) 87,854 10,463 98,317 121,162 15,930 137,092
90,441 10,463 100,904 123,637 15,930 139,567

16 Analysis of net assets between funds

THROUGH FAITH MISSIONS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

17 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).