The Church's Ministry Among the Jews Statement of Financial Activities for the Year Ended 31 December 2023 Unrestricted funds Restricted funds Total 2023 Total 2022 Note Income and Endowments from: Donations and legacies Other trading activities Investment income 92.214 435 496 4.630 96,844 435 496 15,849 160 440 Total income 93,145 4.630 97,775 16.449 Expenditure on: Charitable activities {21.543) (15.030) (36,573) (11.131) Total expenditure {21,543) (15,030) (36,573) (11.131) Net income/(expenditure) Gross transfers between funds 71.602 (10,400) 61,202 5,318 (10.400) 10,400 Net movement in funds 61.202 61,202 5,318 Reconciliation of funds Total funds brought forward 179.739 179,739 174.421 Total funds carried forward 240.941 240,941 179,739 All of the charity's activities derive from continuing operations during the above two periods. The notes on pages 11 to 15 form an integral part of these financial statements. Page 9
The Church's Ministry Among the Jews (Registration number: 101473) Balance Sheet as at 31 December 2023 2023 2022 Note Current assets Cash at bank and in hand 240,941 179.739 Funds of the charity: Unrestricted income funds Unrestricted funds 240,941 179.739 Total funds 240,941 179.739 For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476- and The directors acknowledge their responsibilities for complwng with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 TP26y ncial statements on pages g to 15 were approved by the trustees. and authorised for issue on and signed on their behalf by: 50 Patricia Davidson Secretary and trustee The notes on pages 11 to 15 form an integral part of these financial statements. Page 10
The Church's Ministry Among the Jews Notes to the Financial Statements for the Year Ended 31 December 2023 1 Accounting policies Statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation The Church's Ministry Among the Jews meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otheilSe stated in the relevant note{s) to these accounts. The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest £. The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistenuy applied lo all years presented unless otherwise staled. Going concern The trustees consider that there are no material uncertainties about the charitys ability to continue as a going concern. Income and endowments Voluntary income including donations, gifts. legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability- Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Investment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expendilure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with ntral staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Page 11
The Church's Ministry Among the Jews Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charitys compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Financial instruments Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are dassified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Page 12
The Church's Ministry Among the Jews Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Recognition and measurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constilutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interesl for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are setlled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership. has transferred control of the asset to another paty. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. 2 Income from donations and legacies Unrestricted funds General Restricted funds Total funds Donations and legacies., Donations from individuals 92,214 4,630 96,844 Total for 2023 92,214 4,630 96,844 Total for 2022 15,849 15,849 3 Income from other trading activities Unrestricted funds General Total funds Trading income" Shop income from sale of donated goods and services 435 435 Total for 2023 435 435 Total for 2022 160 160 Page 13
The Church's Ministry Among the Jews Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 4 Investment income Unrestricted funds General Total funds Interest receivable and similar income- Interest receivable on bank deposits 496 496 Total for 2023 496 496 Total for 2022 440 440 5 Expenditure on charitable activities Unrestricted funds General Restricted funds Total funds Note Allocated support costs Govemance costs 15,030 15.030 21,543 21,543 Total for 2023 21,543 15,030 36,573 Total for 2022 11.131 11.131 Page 14
The Church's Ministry Among the Jews Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 6 Taxation The charity is a registered charity and is therefore exempt from taxation. 7 Cash and cash equivalents 2023 2022 Cash at bank 240,941 179.739 8 Funds Balance at 31 December 2023 Balance at 1 January 2023 Incoming resources Resources expended Transfers Unrestricted funds General 179,739 93,145 (21,543) (15.030) (10,400) 10.400 240,941 Restricted funds 4.630 Total funds 179.739 97.775 36.573 240.941 Balance at 31 December 2022 Balance at 1 January 2022 Incoming resources Resources expended Unrestricted funds General 174,421 16,449 (11,131) 179,739 Restricted Funds Restricted funds relate to the crisis fund. Page 15