**EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE) YEAR ENDED 31 AUGUST 2023** **____________________________________________________________________________________________________** ## **TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)** The Trustees present their report and audited financial statements for the year ended 31 August 2023. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s Memorandum and Articles of Association, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, 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 SORP 2019 (FRS 102). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** Exodus Trust is a registered charity with the Charity Commission for Northern Ireland and a company limited by guarantee, registered in Northern Ireland. The company was incorporated on 6[th] August 2007. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed by its Articles of Association. The liability of its members is limited in that every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up. ## **Reference and administrative details** The registered name of the charity is Exodus Trust, charity registration number: NIC 102463 and company registration number: NI 065788. **Registered office** 29 Railway Street, Lisburn, BT28 1XP. **Chief Executive Officer** Mr J Brown **UK & Ireland Director** Mr J Cummings **Auditor** GMcG Portadown, Chartered Accountants & Statutory Auditor 17 Mandeville Street, Portadown, Co Armagh, BT62 3PB **Bankers** Bank of Ireland, 2 The Diamond, Coleraine, BT52 1DE **Solicitors** McFarland Graham McCombe, 41-43 Bachelors Walk, Lisburn, BT28 1XN ## **Trustees** The Trustees, who are also the directors for the purpose of company law, and who served during the year were: Mrs C Aiken (resigned 6 December 2022) Dr C Agnew (appointed 6 December 2022) Mrs G Maxwell (appointed 6 December 2022) Mr A R Lynas Mr P R Lynas Mrs G A Witherow Mrs L Bell (resigned 13 October 2022) Mrs L R Lynas Mr S J Richmond Mrs K Welch 3 **EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE)** **YEAR ENDED 31 AUGUST 2023** **____________________________________________________________________________________________________** ## **TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED)** ## **Trustees** _**(continued)**_ New Trustees are appointed when appropriate. Suitable candidates are considered on the basis of their skills, experience and sympathy with the aims of the charity to ensure that they are competent to fulfil their role. New Trustees will be agreed at a board meeting before being invited to join. Training and support for Trustees is provided as required. ## **How the charity makes decisions** The Trustees and executive management meet 3 to 4 times a year to set strategy, discuss significant matters and review management accounts for the charity. During these meetings important decisions are made by consensus of the board. Day to day decision making responsibilities are delegated to the charity’s senior management team and its departmental leaders. ## **Remuneration of key management** The Trustees set the pay for key management at a level they believe reflects the nature of the role and the level of responsibility involved. This is reviewed annually in light of current performance, cost of living and budgetary considerations. ## **Relationships with related parties** The charity requires Trustees to complete disclosure of interest forms on appointment and to update these as required in order to identify potential related parties that may require disclosure in the financial statements. This disclosure and a description of those related parties can be found at note 23 to the financial statements. ## **Additional related parties** The Exodus centres in Coleraine and Lisburn are both located in buildings owned by Padly Limited. These buildings have been made available to Exodus by way of a rent-free tenancy. Padly Limited has three trustees each named as a person of significant control. Two of these individuals (Peter Lynas and Andrew Lynas) are also trustees of Exodus. ## **OBJECTIVES AND ACTIVITIES** The principal activity of the charity is to advance the Christian religion and promote the benefit of young people primarily but not exclusively in Ireland. We are a charity that educates and assists such young people, irrespective of their religious beliefs, through their leisure-time activities so as to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society. In particular, we: - Provide facilities for recreation or other leisure time occupation in the interest of social welfare for young people in Ireland with the object of improving the conditions of life for such persons; - Provide an alcohol and drug free cross community environment for the spiritual, social and physical recreation and training of young people with the object of improving the conditions of life of such young people; - Provide programmes of mentoring and small groups whereby young people can learn from and be supported by older people and so help achieve their full educational and personal potential. We also provide development aid and support to local communities, primarily but not exclusively in developing countries, for the furtherance of the relief of poverty, the advancement of education and other purposes beneficial to these local communities. 4 **EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE)** **YEAR ENDED 31 AUGUST 2023** **____________________________________________________________________________________________________** ## **TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)** ## **OBJECTIVES AND ACTIVITIES (CONTINUED)** Exodus was established in Portstewart, Northern Ireland in 1997 and our vision is to see generations of young people boldly following Jesus and becoming lifelong disciple makers. We currently work alongside young people, disciple makers, churches and communities in Ireland, Hungary and Romania. We see our role as raising up young people who will live out a bold and active Christian faith where they live and through 25 years of disciple making, we have journeyed with over 15,000 young people and leaders. We offer four primary opportunities full of depth, fun and adventure: 1. TEAMS - Unforgettable small group adventures combining discovery, friendship and mission. 2. EVENTS & RESIDENTIALS - Fun, intentional and creative opportunities which build community and create discipling moments. 3. MENTORING - Deep discipling relationships between young people and older Christians. 4. TRAINING AND RESOURCES - Creative materials and workshops to equip leaders, parents and young people to make disciples. ## **Grant making policy** The charity may provide some financial assistance to organisations that it believes will advance its overall objectives. Primarily this is directed to our sister organisation ‘’Exodus CEE’’ operating in Hungary and Romania. ## **Use of volunteers** The charity continues to rely on the work of volunteers who assist in office administrative roles, help at various events throughout the year and lead the teams which meet throughout the year and travel during the summer. We estimate a contribution of at least 45,500 volunteer hours in 2022/23 equivalent to £568,750 at an average hourly rate of £12.50. - **Full Time Self Funded Volunteers** - e.g. Missionaries & Interns - 18,000 hours - **Regular & Sessional Youth Work Volunteers** - e.g. Team leaders & mentors - 25,000 hours - **Regular part time support volunteers** - e.g. Financial & Admin Support – 2,500 hours ## **PUBLIC BENEFIT STATEMENT** The Board of Exodus Trust confirm that they have had due regard for the guidance produced on public benefit by the Charity Commission for Northern Ireland and are pleased to report that during the year the charitable company has continued to provide public benefits through the programmes and services we offer. In particular, the directors consider how planned activities will contribute to the aims and objectives they have set out. ## **Public benefits** The trustees believe that both our purposes satisfy both elements of the public benefit requirement. ## _**Purpose 1:**_ The direct benefits which flow from this purpose include: - The opportunity to consider, celebrate and express the Christian faith. - The adoption of a moral framework following the teachings of Jesus. This includes promoting - peace, meeting the needs of others, tolerance and respect for diversity recognising all as being created by God and therefore all are equal. - The provision of Christian religious education. - Provision of training and skills development linked to Exodus programmes that will have aid ongoing competence in areas such as public speaking, group facilitation, good practice in youth work, leadership, event management and teamwork. 5 **EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE) YEAR ENDED 31 AUGUST 2023** **____________________________________________________________________________________________________** ## **TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)** ## **OBJECTIVES AND ACTIVITIES (CONTINUED)** ## **Public benefits (continued)** - The provision of youth centres and activities open to all which encourage social contact and interaction with a positive ethos. - The provision of volunteering opportunities within centres and local communities. These benefits are demonstrated through stories recorded from participants and partner organisations, feedback from volunteers, quarterly updates and the annual report. In providing these benefits, Exodus seeks to share the core tenets of the Christian faith, however, it will not condone any activities which put undue pressure on individuals to take on these beliefs. The beneficiaries of this purpose are young people living in Ireland aged 15-25. There will also be a direct benefit to youth leaders trained in roles, an indirect benefit to the families of young people and a wider benefit to the local communities. A private benefit to staff will arise as they are paid and also trained to carry out the role but this is necessary and incidental and payment is in line with appropriate levels of remuneration. Another potential private benefit is that gained by a staff member or Trustee who also has a teenage child who takes part in activities. This individual applies for and is assigned places in the same way as all other beneficiaries. This benefit is incidental and necessary to ensure the benefit is provided to our beneficiaries. ## _**Purpose 2:**_ The direct benefits which flow from this purpose include: - The provision of practical repairs, maintenance and food distribution to care for those in need. - The provision of Christian religious education. These benefits are demonstrated through stories recorded from participants and partner organisations, feedback from volunteers, quarterly updates and the annual report. In providing these benefits Exodus seeks to share the core tenets of the Christian faith, however it will not condone any activities which put undue pressure on individuals to take on these beliefs. The beneficiaries of this purpose are individuals and communities primarily but not exclusively in developing countries. ## **ACHIEVEMENTS AND PERFORMANCE** ‘’I became a team leader after being a team member because there is no experience like it. Exodus changed my life. I can only give back.’’ - Exodus Volunteer Leader 2023 ## **Ongoing Ministry Celebrations** Between 1 September 2022 and 31 August 2023, Exodus staff and volunteers in the UK & Ireland delivered ministry opportunities across our 6 locations: Coleraine, Lisburn, Derry, Belfast, Carrick and Banbridge. Each area has significant cause for celebration. The following are some ‘headlines’ from the life of Exodus in the last 12 months organised under the titles from our vision statement, ‘Reach’, ‘Disciple’ and ‘Partner’. ## **Reach** - 1,800 young people completed either a SOAR (Self Leadership) or Alpha course in their school. - We received over 10,000 ‘sign-ins’ at local events such as breakfast clubs, drop ins and sports groups. - Teams from the UK & Ireland shared the message of Jesus with over 2500 children and young people across 11 different countries. 6 **EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE)** **YEAR ENDED 31 AUGUST 2023** ## **____________________________________________________________________________________________________** ## **TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)** ## **ACHIEVEMENTS AND PERFORMANCE (CONTINUED)** ## **Disciple** - 491 young people and leaders joined Exodus Teams in 2023 with a course completion rate of 90.5%. - 242 young people joined the DISCIPLES programme and 84% of participants said the group 'helped them become more confident as a disciple of Jesus'. - We created a ‘Rhythms’ journal to help encourage every Exodus Team Member in regular Bible reading and connection with God. ## **Partner** - 852 young people from 30 different churches or organisations stayed in our Residential Centre. - 45 churches and ministries around the world were served by Exodus Teams. - Legacy, our new ministry for Fathers was present in 30 churches and equipped 120 dads for disciple making in the home. ## **Development Celebrations** In March 2022, Exodus set out 12 Development goals linked to our drive for innovative and sustainable youth ministry until 2025. We are thrilled to share exciting progress in each of these 12 areas below: **1. Employing a fully funded Outreach Worker within Exodus North-East.** Following a successful fundraising campaign in Spring 2023 we employed a full-time and fully funded Outreach Worker in August 2023. The role has been highly fruitful and has resulted in a range of new outreach initiatives including the establishment of an SU group in Ballycastle and expanded delivery of the SOAR leadership course for pupils in Ballymoney. **2. Piloting a team opportunity linked to leadership development that appeals to and engages those who aren’t Christians.** - In 2023 we created a new style of Exodus Team where all members came from one school as a direct follow-up from our SOAR leadership course. None of the team members had previous experience with Exodus. The team successfully met weekly for 16 weeks and travelled for a volunteering placement in Romania during July. **3. Pioneering a range of new and creative outreach initiatives.** - In 2022-23, we led a number of creative new outreach initiatives including ‘Breakfast Club’ which engages over 70 young people each week in Lisburn and the establishment of 5 new football groups engaging over 120 young people throughout the course of the year. **4. Delivering a reshaped and re-branded intern programme with an intentional focus on leadership development.** In Spring 2023, we began reshaping our internship under the title ‘Emerging Leaders’ with 6 interns joining the signing up for the programme for September 2023. Developments included a new interns journal, programme of leadership training days and a leadership development trip to Romania. **5. Creating a full set of updated team courses.** - In September 2022 a fully-funded volunteer joined the team as Mentoring & Content Developer. This focused role has allowed us to develop 4 new journals (1 per team course) which were distributed to 442 team members. In addition, we developed a new Ex-tend course. Plans are in place for further content development in 2023-24. 7 **EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE) YEAR ENDED 31 AUGUST 2023** **____________________________________________________________________________________________________** ## **TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)** ## **ACHIEVEMENTS AND PERFORMANCE (CONTINUED)** **6. Building a strategic approach to developing innovative and adventurous placements for teams.** - We have identified a number of geographical areas for development for future teams and made significant improvements in our communication and partnership with “hosts”. **7. Building and launching a new model for Church commissioned Exodus workers who reach local young people with the gospel and raise up lifelong disciples of Jesus.** We have begun piloting a new initiative called ‘Journey Together’ and are actively seeking church and community partnerships to launch new Exodus workers. **8. Launching a ministry to help fathers disciple their children.** - ‘Legacy’ was launched in November 2022 as a new ministry for fathers. Since then, the ministry has developed rapidly through the launching of programmes such as ‘Men Behaving Dadly’, ‘The Legacy Award’ and a successful new podcast. Through these new opportunities, Legacy has partnered with over 30 churches and 120 fathers. **9. Appointing a worker who will unlock more of the potential of Walk with Me through refining the process and targeted invitation, training and support.** - Our newly appointed Mentoring and Content Developer has led our development in this area. In particular, this has resulted in the development of a new training resource, 2 new ‘journey’s on the WALKWITHME app and additional support for staff who are recruiting mentoring pairs. **10. Setting up a home for the ministry in Carrick and Newtownabbey.** In Autumn 2023, Greenisland Presbyterian Church welcomed Exodus Carrick to set up a new home within its premises. This generous invitation was paired with the permission and support to renovate a now youth-friendly space. The partnership has been very fruitful, and in February 2023 the Carrick team welcomed 62 young people and leaders onto Exodus Teams. ## **11. Building a new database and online platform to simplify & streamline activities for participants & staff.** We made significant progress on this project through a lengthy consultation process with a technology partner. This resulted in the development of a strategic plan and a successful funding application to support the work. **12. Forming a volunteer support group for each Exodus Area working to help the work flourish locally.** We have piloted a support group for our work in Belfast. This has provided excellent support for the ministry there and plans are in plans to continue the development. 8 **EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE)** **YEAR ENDED 31 AUGUST 2023** **____________________________________________________________________________________________________** ## **TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)** ## **FINANCIAL REVIEW** The detailed financial results for the year ended 31 August 2023 are shown on page 19 of the financial statements. The net expenditure for the year amounted to £13,428 (2022: net income of £76,472). At 31 August 2023, the funds of the charity amounted to £575,972 (2022: £589,400) comprising unrestricted income funds of £523,508 (2022: £559,102) unrestricted designated funds of £Nil (2022: £Nil) and restricted funds of £52,464 (2022: £30,298). At 31 August 2023, fixed assets included within unrestricted funds are £232,244 (2022: £248,549) and within restricted funds are £14,932 (2022: £16,215). At 31 August 2023, free reserves being total funds after deducting restricted funds, designated funds and fixed assets are £291,264 (2022: £310,553). ## **Principal Sources of Income** Our principal sources of income came from: - **Generated - 28%** - Contributions from participants toward their involvement in opportunities - **Committed - 27%** - Pledges & standing orders from churches, trusts & individuals - **One Off - 27%** - Linked to project grants & donations from individuals & churches. (Also includes Gift AId). - **Team Fundraising - 18%** ## **Expenditure** Our primary areas of expenditure are linked to: - **Salaries - 45%** - Primarily front line youth work investing in volunteer leaders & young people (including support for Exodus CEE (sister organisation) - **Team Costs - 30%** - Flights, accommodation & materials - **Youth Ministry Costs - 9%** - **Running Costs - 10%** - **One Off Projects & Development - 6%** - including New Outreach initiatives ## **Reserves policy and going concern** The charity’s reserves should provide the organisation with adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future. The Trustees intend to maintain the charity’s reserves at a level which is at least equivalent to three months operational expenditure plus £70,000 for advance purchase of flights & insurance at the start of each financial year and have done so having regards to its manner of operation of likely funding streams. The board will review the reserves to ensure that they are adequate to fulfil the charity’s continuing obligations on an annual basis. This figure for three months' operations equates to £146,400. The additional figure towards the insurance and flights budget is £70,000 - bringing the total reserves figure to £216,400. Making allowance for restricted funds the trustees are able to report cash of £294,771 at the end of 31[st] August 2023. ## **Comment on current Financial Picture** We had projected a financial deficit in 2022/23 however, the deficit was lower than expected due primarily to: - Unexpected one-off gifts (encouraged by a new matching scheme) - A number of posts unfilled in the shorter term resulting in lower staffing costs - Generosity of local team members to contribute some fundraising to support local centres 9 **EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE)** **YEAR ENDED 31 AUGUST 2023** **____________________________________________________________________________________________________** ## **TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)** ## **FINANCIAL REVIEW (CONTINUED)** ## **We are projecting a deficit for 23/24 due to the following:** - Use of the Outreach restricted fund (raised in previous years) - Renovation to Coleraine centre to facilitate office space for the growth of the staff team (using reserves and donations from 22/23). - Other investment in development of course materials from funds designated from previous years. - Appointing new staff members into vacant roles - Increased ministry costs due to a larger staff team and inflationary pressures - This figure is lower than the previous year, mainly due to the change in the reserves and restrictions: - Growth of a restricted fund - The Reserves Policy (approved by trustees) has been increased to give the organisation a flight allowance ahead of the deposit date to secure better prices - as above ## **Factors Affecting Future Financial Performance** - High level of inflation linked to cost of utilities and cost of international travel - Percentage of core funding is linked to level of participation in our teams programme - Success of a small number of specific Grant applications - Consistency of largest ongoing donors ## **Risk Management** The Trustees 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 Trustees maintain a written risk register in order to document and review identified risks. The principal risks continue to be: - Inflation in day to day costs and international travel - The challenges of working from and maintaining a large listed building in Lisburn. - Need for new digital systems. - Growing income streams and donor base in line with the growth of the team and opportunities. ## **Plans for the future** ## **1. Ongoing Ministry Goals** In 2022/23 we are determined to Reach 10,000 young people through schools work, drop ins and connection events. To Disciple 450 team members, 200 DISCIPLES and 100 mentees and to partner with 100 churches and organisations in disciple making. ## **2. Development & Sustainability Goals** Alongside this our priorities for development are linked to our 12 goals with 2023/24 goals as follows: **1.** Employ a new, fully funded worker for Exodus NE focused on reaching new young people. **2023/24** - Goal Achieved **2.** Pilot a team opportunity linked to leadership development that appeals to and engages those who aren’t Christians. - **2023/24** - Extend the pilot of team members linked to leadership development courses to include at least 2 schools **3.** Catalyse a range of new and creative outreach initiatives pioneered by our bases. **2023/24** - Build on what was started in 2022/23, pilot a 3 way partnership with schools and churches and launch a Train station outreach. **4.** Deliver a reshaped and re-branded intern programme with an intentional focus on disciple making leadership development. - **2023/24** - Deliver the new Emerging Leader programme as a pilot for a new internship. 10 **EXODUS TRUST (A COMPANY LIMITED BY GUARANTEE) YEAR ENDED 31 AUGUST 2023** **____________________________________________________________________________________________________** ## **TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)** ## **FINANCIAL REVIEW (CONTINUED)** **5.** Create a full set of team courses - re-written, digitally delivered. **2023/24** - Release a new Ex-press course and Ex-tend videos for team members and an updated SOAR course for schools work. **6.** Build a strategic approach to developing innovative and adventurous placements for teams. **2023/24** - Investigate opportunities in the USA, extend opportunities in Moldova, Catalonia & South Africa. **7.** Build and launch a new model for Church commissioned Exodus workers who reach local young people with the gospel and raise up lifelong disciples of Jesus. **2023/24** - Strengthen partnerships in 3 development Areas with the aim of initial appointments in 2025 **8.** Launch a ministry to help fathers disciple their children **2023/24** - Appoint a new worker for Legacy (our ministry with fathers) **9.** Appoint a worker who will unlock more of the potential of Walk with Me through refining the process and targeted invitation, training and support. **2023/24** - Strengthen the mentoring process internally. **10.** Set up a home for the ministry in Carrick and Newtownabbey. **2023/24** - Goal Achieved **11.** To build a new database and online platform to simplify & streamline activities for participants & staff. **2023/24** - Initiate the Digital Boost Project to build and launch new software by 2025. Appoint a project manager and launch tender for software build **12.** To form a volunteer support group for each Exodus Area working to help the work flourish locally. - **2023/24** - Establish 4 more Area Support Teams to have groups for 5 of our 6 centres in Ireland. And finally - renovate a space in our Coleraine centre to create a new office and meeting room to help support the ministry growth around the centre. ## **STATEMENT OF DIRECTORS’ RESPONSIBILITIES** The trustees (who are also the directors of Exodus Trust) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements the directors are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2019 (FRS 102); - make judgements and estimates that are reasonable and prudent - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. 11 EXODUS TRUST (A COMPANY IIMTTED BY GUARkYIEEI YL4REfqDED31 AUGusf 21123 TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTENUED) STATEMENT OF DIRECTORS, RESPONSIBILrrIES (CONTINUED) The Trustees are responsible for keeping adequate accounting records that disclose with reasonable a¢curacy at any time the f￿all¢la1 position of the charitable wmpany and enable them to ensur¢ that the financial statements comply with the Companies Act 2006. The directOTS are also responsible for safeguarding the assets of thc charitable con]pany and hence to take Tcasonable step5 for the pr¢vention aT]d detection of fraud and other irregularities. Disclosure of Inforn￿tiOn to auditors We, the directois of the company who held office at the date of approval of these Financial StateTncnts as set out above each Conf￿ so far as w¢ aware, that: there is no relevant audit infOrn￿tiOn of which the charitable company's auditors are unaware. we have taken all the steps that we ought to have taken as directors in order to make ourselves aware of any relevant audit inforn]ation and to establish that the charitable company's auditors are aware of that inforn)ation. The trnstees are res￿nsIble for the maintenance and integrity of the corporate and fsnancial infonnation included on the Ch￿itable ¢OFnpanYs website. Legislation in the United Kingdom governing the preparntion and diss¢mination of financial statements may differ from legislation in other jurlsdictions. Small" conwanies, exemption This report has been prepared in accordance with the sp