Charity registration number.. NIC102665 Company registration number.. N1636953 European Christian Mission Ireland IA company limlted by guarantee) Annual Report and Audited Financial Statements Year Ended 31 December 2022
European Christian Mission Limited Financial Statements Year Ended 31 December 2022 Contents Page Charity Reference and Administrative Details Trustees. Annual Report Independent Auditor's Report Statement of Financial Activities io Balance Sheet li Statement of Cash Flows 12 Notes to the Financial Statements 13-21 Page I
European Christlan Misslon Ireland Charity Reference and Administrative Details Year Ended 31 December 2022 Charity registration number NIC102665 Company registration number N1636953 Trustees Rev Albert Baxter Mr Andrew Green Mr Andrew Graham Mccormick Mr John Leslie Patterson Miss Jean Tubman Rev Thomas Alastair McNeely Mr Geoffrey Baxter Mcllrath Ms Lorraine Moore (Appointed 01103/20231 Secretary Mr Geoff Donaldson (Appointed OII01120231 Registered office 3 Ballymacross Avenue Lisburn Co Antrim BT28 2GX The charity is incorporated in Northern Ireland Auditors Barry Thompson and Company 76-78 Church Street Portadown BT62 3EU Accountants Thomas Oliver & Associates Ltd l Moygashel Mills Park Dungannon BT717DH Page 2
European Christlan Misslon Ireland Trusteeg Annual Report {Including Director5 Report) Year Ended 31 December 2022 The Trustees present their report and the audited financial statements of the European Christian Mission Ireland for the year ended 31 December 2022. The trustees have adopted the provision5 of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities. (FRS 1021 in preparing the annual report and financial statements of the charity. Trustees of the charlty The directors of the charitable company are it5 trustees for the purposes of charity law. The trustees who have seNed during the year and since the year end were as follows.. Rev Albert Baxter Mr Andrew Green Mrs Christina Clyde5dale (Resigned 3111212022} Mr Andrew Graham Mccorrnick Mrs Audrey Mclvor (Resigned 31/1212022) Mrjohn Leslie Patterson Miss Jean Tubman Rev Thomas Alastair McNeely Mr Geoffrey Baxter Mcllrath Mr Peterjohn sMh (Resigned 311121221 Ms Lorraine Moore {Appointed 0110112023) Structurei governance and management The charity was incorporated as a company limited by guarantee on 8 March 2016. The company is exempt under the legis13tion from using 'limited' a5 part of its name. The charity is registered with The Charities Commission for Northern Ireland, NIC102665. The charity is controlled by it5 trustees who are directors of the company for the purposes of the Companies Act 2006 and is governed by the provisions contained within the Memorandum and Articles of Association. All trustee5 are members of the charitable company and stand as guarantors of the charitable company in the sum of £1 each. There can be up to twelve trustees. Once appointed, trustees serve for a period of four years. At least two trustee5 are appointed by the existing board and at least one by the member of the mission at the annual general Meetings. Affiliation European Christian Mission Ireland is in a covenant agreement with ECM Ilnternationall and the terms of this relationship are set out in a Covenant agreement signed by both parties. The board of trustees of ECM {International) is the overall governing body responsible for doctrinal and spiritual principles and the general direction and development of ministries in Europe. The trustees of European Christian Mission Ireland are responsible for the promotion of work in Ireland. the recruitment and member care of personnel and the raising of resources to further the objectives of the charitable company in Europe. Objective5 and activlties The principal activities of the charity are to promote ministries of evangelism, church planting and church development in Europe along with their associated Social action projerts. It also seeks to recruit, train, send, support and care for workers called and equipped to fulfil such ministries. Page 3
European Christian Mlssion Ireland Trusteeg Annual Report Ilncluding Directors Report} Year Ended 31 December 2022 Public benefit Statement Under the Public Benefit guidelines, for religion to be charitable, it must be 'advanced', i.e. promoted or extended. As our charitable objects include the evangelisation of the peoples of Europe, and the establishing and Strengthening of evangelical churches acr055 Europe, we consider that we meet this definition. The identifiable benefits include the transformation of lives through the gospel of Jesus Christ, and the fellowship, friendships and relationships created or restored through participation in the life of a local church. Furthermore, the outworking of the Gospel of Jesus Christ by the newly established Christian communities tends to the promotion of the relief of poverty and sickness and the propagation of positive ethical value5. These benefits are available to members of the public from all levels of social life across Europe, as we work in cornmunities ranging from the affluent, such as in Austria, through to the very needy, such as in Bosnia. There is no private benefit or harm flowing from the purposes. Achievements and performance ECM Ireland's principal activity is that of Christian missionary work in Europe, specifically the support of church- planting and discipleship through ECM Ilnternationall. The ongoinE focus in 2022 was in the areas of promotion of service opportunities in Europe, recruiting new mission workers, care for existing mission workers, encouragement of prayer and giving for Europe. ECM'S Mlssion Statement ECM'S mission statement is to 'equip, connect, and multiply followers of Jesus through church planting and discipleship across Europe. The mission statement can be expanded upon and explained more clearly through the three key words of "Equip, Connect, Multiply EQUIP We identify people'5 God-given gifts and abilities and develop them into ministry and leadership. We train people to live out and speak out the good news where they are. We lovingly care for people, so they thrive in both life and ministry. CONNECT We build networks so that God's resources in one place can extend his kingdom in another. We encourage people to work in teams, 50 their ministries have greater impact. We actively work together and form partnerships as a way of showing the unity of Chrisvs church. MULTIPLY We mobilise and inspire people for God's mission in Europe. We challenge people to become disciples of Jesus who themselve5 make more disciples. We make p055ible the planting of healthy churches that reproduce naturally. HUMAN RESOURCES Office Staff In 2021 there were three part time staff and two volunteers. Missionaries and Assoclate Members The core busine55 of the mission continues to be the recruitment and support of workers who serve the church in Europe. At the end of 2021 ECM Ireland was supporting 39 members serving in Kosovo, Slovenia, Serbia, Poland, Portugal, Spain, Ireland, Greece, and Germany. Projects Projects for which significant funds were raised during 2021- The Greek Bible College. and 'Wh3t'5 the Story., projert in Ireland. Page 4
European Christlan Mission Ireland Trustees, Annual Report (Including Directors Report) Year Ended 31 Dernber 2022 Promotion and Communicatlons. ECM Ireland has continued to make known the spiritual needs of Europe known through our website, Social media, monthly prayer diary, tri-annual ECM Life magazine, videos and through a variety of speaking engagements. Financial revlew The results for the year are detailed on page 10 of the financial statements. The net income for 2022 is £87,664 12021- £48,102). The balance on unrestricted funds at 31 December 2021 was £90,15612021- £44,068) with a proportion of this made up of property capital being £62,000. The balance on restricted funds at 31 December 2022 was £364,32912021 £322,753) and all of this is included in the bank balances at the year end. Plans for the future Recrultment: We have three Candidates who are currently applying for membership. We have two Short Term Candidates going to Greece and to Ireland in June 2022. We have one team that is currently planned for 2022. A 'Pastors to Pastors, Team, which aims to encourage national workers in their knowledge of God, and to build up prayer contact and other 5UPPOrt for their ministries. We will continue to follow up any enquiries from those who have an interest in working long or short term in Europe. Office Management: ECM Ireland is seeking to appoint an Operations Manager and a Communications and Supporter Relations Mana8er who will oversee the overall running of the ECM Ireland office. Partnering wlth others: Continue to build and develop partnerships Within ECM and with other Christian organisations through MAP, IMAP and Global Connections. Communications: To sharpen our communications via the channels mentioned above. Member Care: Continue to support and equip our members who are involved in Church planting and discipleship in Europe. Reserves Policy The income of the charity is considered stable and the risks a550ciated with any significant reduction of income is regarded as unlikely. The trustees are satisfied that the level of reserve5 Stated in the accounts will ensure. that in the event of a significant decrease in funding they will be able to continue the charities current activities. Trusteeg responsibilitles The trustees (who are also directors of European Christian Mission Ireland for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law require5 the trustees 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 incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. Select suitable accounting policies and then apply them consistently; observe the methods and principles In the Charities SORP 2015 IFRS 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. Page 5
European Chrtstian Mlssion Ireland Trustees, Annual Report Ilncluding Dtrertors Reportl Year Ended 31 December 2022 The trustees ère responsible for keeping proper accounting records that disclose with reasonable accuracy at èny tirre the financial position of thè charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They 8re also responsible for 5afeguardin8 the asset5 of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disc105ure of information to the auditors We. the directors of the company who held offlce at the date ol approval of these Financial Statements a5 Set out above each confirm, so lar as we are aware, that.. there 15 no relevant audit information of which the company's auditors are unaware.. and we have taken all the steps thai we ought to have taken as directors in order to make ourselves aware of any relevant audit information and to establish that the companvs auditors are aware of that information. Small company provisions Thi5 report ha5 been PrePad in accordance with the provisions applicable ro companles èntitled to the small companies, exèmption. On behalf of the board Miss Jean Tubman, Trustee 25 September 2023 Page 6
European Christian Mi55ion Ireland Independent Auditorfs Report Year Ended 31 December 2022 Independent Auditorfs Report to the trustees of The European Christian Mission Ireland Opinion We have audited the financial statements of The European Christian Mission Ireland (the 'charitable companVI for the year ended 31 December 2021 which comprise the Statement of Financial Attivities, the Balance Sheet. Statement of Cash Flows and notes to the financial staternents, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable companws affairs as at 31 December 2021, and of its incoming resource5 and application of resources, including its income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISA5 {UKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirement5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded thatthe trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertalntie5 relating to events or onditions that, individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statement5 are authori5ed for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant section5 Qf this report Other information The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not expre55 any form of assurance conclusion thereon. Our responsibility 15 to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material rnisstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material mi55tatement of this other information, we are required to report that fact. We have nothing to report in this regard. (Continued) Page 7
European Christian Mission Ireland Independent Auditorfs Report Year Ended 31 December 2022 Independent Audltorfs Report to the trustees of The European Christian Mission Ireland Icontinuedl Opinlon on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course ofthe audit: the information given in the trustees, report (incorporating the dirertors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements- and the directors report included within the trustees. report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Companie5 Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by u5,. or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of directors, rernuneration specified by law are not made; or we have not received all the information and explanations we require for our audit,. or the trustees were not entitled to prepare the financial statements In accordance with the small companies, regime and take advantage of the small companies, exemption in preparing the directors, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 5. the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable companls ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern ba515 of accounting unless the trustees either intend to liquidate the charitable company or to cease operation5, or have no realistic alternative but to do so. Page 8
European Christian Mission Ireland Independent Auditorfs Report Year Ended 31 December 2022 Independent Auditorfs Report to the trustee5 of The European Christian Mission Ireland (continued) Auditorfs responslbilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK} will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non<ompliance with laws and regulations. We design procedures in line with our responsibilities. Outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of deterting irregularities, including fraud is detailed below: Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment. forgery, collusion, omission or misrepresentation. A further description of our responsibilities is availableon the Financial Reporting Council's website at: htt www.frc.or . Our-work Audit Audit-and-assurance 5tandards-and- uidance Standards-and- uidance-for- auditors Auditors-re5 onsibilities-for-audit Descri tion-of-auditors-res onsibilities-for-audit.as forms part of our auditorfs report. x. This description Use of our report This report is made solely to the charitable company's members. as a body. in accordance with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work has been undertaken so that we might state to the charitable compan¢s members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable compan(s members as a body, for our audit work, for this report, or for the opinions we have formed. Barry Thompson (Senior Statutory Auditor) for and on behalf of Barry Thompson and Companv Chartered Accountants and Statutory Auditors 76-78 Church Street Portadown Co Armagh BT62 3EU 25 September 2023 Page 9
European Christlan Mission Ireland Statement of Financlal Activitles Including Income and Expendlture Account Year Ended 31 December 2022 Unre5trirted funds Restricted funds 2022 Total 2021 Total Note Income from: Donations and legacies Investment income Other income 75,882 610 5,573 682,179 758,061 610 5,573 629,412 4.649 Total income 82,065 682,179 764,244 634,061 Expenditure on: Charitable activities Other expenditure 160,949 803 514,828 675,777 803 585,590 369 Total expenditure 161,752 514.828 676,580 585,959 Net {expenditure)lincome 179,6871 167,351 87,664 48,102 Transfers between funds 14 125.775 1125,7751 Net movement in funds 14 46,088 41,576 87,664 48,102 Reconciliation of funds: Total funds brought forward 14 44,068 322,753 366,821 318,719 Total funds carried forward 14 90,156 364,329 454,485 366,821 The statement of financial activities Includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Page 10
European Christian Mission Ireland Balance Sheet Year Ended 31 December 2022 2022 2021 Note Fixed assets Tangible assets li 64,485 63,516 64.485 63,516 Current assets Debtor5 Cash at bank and in hand 12 17,019 376,772 18,912 288,560 393,791 307.472 Creditors.. amounts falling duè within onÈ year 13 13,7911 14,1671 Net current assets 390.000 303,305 Net assets 454,485 366,821 Chailty Fun(Js Restricted funds Unrestricted funds 14 14 364.329 90,156 322,753 44.068 Total chaTlty funds 14 454,485 366,821 These f1nancial Statements have been prepared sn accordance with the provisions applicable to companies subject to srllall companie5, reEime. The financial Statements were approved and authorised for issue by the Board on 12 September 2023. Signed on behalf of the board of trustees. Miss Jean Tubman, Trustee 25 September 2023 The notes on page5 13 10 21 form part of these financial statement5. Companie5 Registration No. N1636953 Page 11
European Chrlstian Mission Ireland Statement of Cash Flows Year Ended 31 December 2022 2022 2021 Note Net cash fIows from operatin8 activities 16 87,664 48,102 Cash flow from investing activities Interest receivable and similar income Depreciation 16101 803 {641 369 87,857 48.407 Working capital adjustments Decreaselincrea5el in debtor5 Decrease in creditors 1.893 13761 113,3921 1611 89,374 34.954 Cash flow5 from Investing actlvities Interest receivable and similar income Purchase of tangible fixed assets 610 {1.7721 64 11,3611 11.1621 11,297) Net increase In cash and cash equivalents 88,212 33,657 Cash and cash equlvalents at l January 288,560 254,903 Cash and cash equivalents at 31 December 376,772 288,560 Page 12
European Christlan Misslon Ireland Notes to Financial Statements Year Ended 31 December 2022 Summary of significant accounting policles (a) General informatlon and basis of preparation European Christian Mission Ireland is a charity limited by guarantee and consequently does not have share capital. In the event of the charity being wound up, the trustee5 are not liable to contribute anything towards the assets of the charity. The address of the registered office is given in the charity information on page 2 of these financial statements. The charity constitutes a public benefit entity as defined by FRS 102. The financ131 statements have been prepared in accordance with Accounting and Reporting by Charities.. Staternent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in Ottober 2020, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102), the Charities Act (Northern Ireland) 2008. the Companies Act 2006 and UK Generally Accepted Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are presented in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are Set out below. These policies have been consistently applied to all years presented unle55 Otherwise stated. (bl Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund 15 set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrirtions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such fund5 are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. {c} Income recognltlon All incoming resources are included in the Statement of Financial Activities ISOFAI when the charity is legally entitled to the income after any performance conditions have been met. the amount can be measured reliably. and it is probable that the income will be received. For donations and grants to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this require5 a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably, and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount 15 recognised in expenditure. Page 13
European Christian Misslon Ireland Notes to Financial Statement5 Year Ended 31 December 2022 {c) Income recognition (continued) Income from donated goods is measured at the fair value of the goods unle55 this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expetted to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management cost5 incurred within a scheme with reasonable accuracy the investment income 15 reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is established. Id) Expenditure recognrtion All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all Costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obll8ation can be measured reliably. It is categori5ed under the following headings- Expenditure on charitable activities includes all costs incurred by the charity in undertaking activitie5 that further its charitable aims for the benefit of its beneficiaries; and Other expenditure represents those items not falling into the category above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. {el Support costs allocatlon Support costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in 5UPPOrt of expenditure on the object5 of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional 3nd statutory requirements. (fj Tangible fixed assets Tangible fixed assets are stated at cost {or deemed costl or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the a55et capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the c05t, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Fixtures, fittings and equipment 25% straight line Investment properties are measured at fair value at each reporting date with changes in fair value recognised in 'net gains / Ilossesl on investments, in the SOFA. Page 14
European Christian Mlssion Ireland Notes to Financial Statements Year Ended 31 December 2022 (g) Debtors and credltor5 re1vable / payable within one year Debtors and creditor5 Wlth no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. (h) Impairment Assets not measured at fair value are reviewed for any indlcation that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment1055 is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. (l) Provislons Provisions are recognised when the charity has an obligation at the balance sheet date a5 a result of a past event, it is probable that an outhow of economic benefits will be required In settlement and the amount can be reliably estimated. ljl Foreign currency Foreign currency transactions are initially recognised by applying to the foreign currency arnount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Monetary asset5 and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate. (kl Employee benefits The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. (l) Tax The charity is an exempt charity and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. (m) Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. (n) Judgements and keysources of estlmation uncertalnty The preparation of the financial statements requires management to make judgement5, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other fartors, including expectations of future events that are believed to be reasonable under the circumstances. Page 15
European Christian Mission Ireland Notes to Financial Statements Year Ended 31 December 2022 Income from donations and legacies Unrestricted Funds Designated General Restricted Funds 2022 2021 Legacies Gift aid Regular giving and capital donations 1,808 52,049 1,972 20,053 44,419 48,199 637,760 709,862 52,361 576,061 53,857 22,025 682,179 758,061 629,412 Income from donations and legacies was £758.06112021- £629,412) of which, £682,17912021- £598,764) was attributable to restricted and £75,88212021- £30,648) was attributable to unrestricted funds. Income from Investments Unrestricted Restritted 2022 2021 Interest- deposits Rental income 610 5,573 610 5,573 64 4,585 6,183 6.183 4,649 Income from investments was £6.183 {2021- £4,649) of which £nil {2021 £nill was attributable to restricted funds and £6,18312021- £4,649) was attributable to unrestricted funds. Other tncome Unrestricted Restricted 2022 2021 Fee income Other income was £nil 12021 £nill of which £nil 12021 £nill wa5 attributable to restricted and £nil 12021- £nil) was attributable to unrestricted funds. Page 16
European Christian Mi$5ion Ireland Notes to Flnancial Statements Year Ended 31 December 2022 Analysis of expenditure on charttable acttvities Unrestricted Restricted 2022 2021 Missiona su ort missionary allowances, expenses and projects Employment costs ort and administration Employment and associated costs Premise costs Office costs Promotion, printin& postage and stationery Subscription Sundry and other costs Management fee Travel and Subsistence Bank charges Foreign currenry gains/los5es Governance costs 55,384 514,828 570,212 491,465 51,098 9,665 7,100 8,175 955 1.819 19,599 2,695 379 1720} 4,800 51,098 9,665 7.100 8.175 955 1,819 19,599 2,695 379 {7201 4,800 42,624 9,426 11.788 4.380 525 717 17.614 855 316 2,390 3,490 160,949 514,828 675,777 585,590 Expenditure on charitable activities was £585,59012021- £585,590) of which £514,82812021- E487,0221 was attributable to restricted and £160,94912021- £98.5681 was attributable to unrestricted funds. Analysis of governance costs Unrestricted Restricted 2022 2021 Audit Accountancy Legal fees 2,400 1,740 660 2,400 1,740 660 2,400 1,090 4,800 4,800 3,490 £4,80012021- £3,490) of the above costs were all attributable to unrestricted funds. Net income forthe year Net income is stated after charging: 2022 2021 Depreciation 803 369 Page 17
European Christian Mission Ireland Notes to Financial Statements Year Ended 31 December 2022 Auditorfs and Accountancy remuneration The auditorfs remuneration amounts to an audit fee of £2,40012021- £2,400) and accountancy services of £1,74012021- £1,090}. Trustees, remuneration and expenses The trustees neither received nor waived any remuneration during the year. io Staff costs and employee benefits The total staff costs and employee benefits were as follows.. 2022 2021 Wages and salarie5 Defined contribution pension costs 49,923 1.175 41,704 920 51,098 42,624 The average number of employees during the year was 412021-41. No employees received total employee benefits {excluding employer pension cost51 of more than £60,000. Page 18
European Christian Mission Ireland Notes to Financlal Statements Year Ended 31 December 2022 li Tangible fixed assets Investment property Fixtures and fittings Computer Equipment Total C05t: At ljanuary 2022 Additions Disposals At 31 December 2022 62,000 9,482 2,610 1.772 74,092 1,772 62,000 9,482 4,382 75,864 Depreciation: Atjanuary 2022 Charge for the year Eliminated on disposals At 31 December 2022 9,482 1,094 803 10,576 803 9.482 1,897 11,379 Net book value: At 31 December 2022 62,000 2,485 64,485 At 31 December 2021 62,000 1,516 63.516 At the year end Investment properties have been valued by the trustees using rental yields and the sale of other properties in the area. It has been deemed that the above value is appropriate. 12 Debtors 2022 2021 Prepayment5 and accrued income Other debtors 15,907 1,112 17,300 1,612 17,019 18,912 13 Credltors: amounts falling due wlthin one year 2022 2021 Trade creditors Other tax and social security Accruals and deferred income 291 167 3,500 4,000 3,791 4,167 Page 19
European Christian Mission Ireland Notes to Financial Statements Year Ended 31 December 2022 14 Fund reconclllation Balance at lJanuary 2022 Balance at 31 December 2022 Income Expenditure Transfers Unrestricted Fund General Designated 41,052 3,016 44,068 28,208 53,857 82,065 1106,6261 155,1261 {161,752} 117,344 8,431 125,775 79,978 10,178 90,156 Restricted Fund Restricted income fund 322,753 682,179 1514,8281 1125,7751 364,329 366,821 764,244 1676,5801 454,485 Balance at l January 2021 Balance at 31 December 2021 Income Expenditure Transfers Unrestrlcted Fund General Designated 85,806 4,317 90,123 31,895 3,312 35,297 195,034} 13,9031 198,9371 18,295 1710) 17,585 41,052 3,016 44,068 Restricted Fund Restricted income fund 228,596 598,764 1487.0221 117.5851 322.853 318,719 634,061 1585,9591 366,821 Fund descriptlons a) Unrestricted funds Unrestricted income funds are general funds that are available for use at the trustee5' discretion in furtherance of the objectives of the charity. bl Restrirted funds Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. The restrirted funds relate to humanitarian aid. cl Transfer of Restricted funds to Unrestricted funds as shown are allowed based on the General Principles included in the company's Financial Policy and ECM constitution. 15 Analysis of net assets between funds Unrestricted funds 2022 Designated funds 2022 Restricted funds 2022 Total 2022 Fixed assets Current assets Creditors les5 than one year 64.485 29,402 14,1671 64,485 393,731 13.7911 364,329 Total 44,068 322,753 454,485 Page 20
European Christian Mission Ireland Notes to Financial Statements Year Ended 31 December 2022 15 Analysls of net assets between funds Icontlnued) Unrestricted funds 2021 Designated funds 2021 Restricted funds 2021 Total 2021 Fixed assets Current assets Creditors less than one year 63,516 115,2811 14,1671 63,516 307,472 (4,167) 322,753 Total 44,068 322,753 366,821 16 Reconciliation of net Income to net cash flow from operating actlvities 2022 2021 Net lexpenditure)/income for the year 87,664 48,102 Rents received from property Interest receivable Depreciation Ilncreasel/decrease in debtor5 Increaselldecreasel in creditors {5,5731 16101 803 1,893 13761 14,5451 1641 369 113,3921 161) Net cash flow from operating activities 83.801 30,369 17 Pensions and other post-retirement benefits al Defined contribution pension plans The charity operates a defined contribution pension plan for it5 employees. The amount recognised as an expense in the period was £1,17512021- £920). The defined contribution liability is allocated to unrestritted funds and in expenditure on raising funds. 18 Related party transactlons There are no related party transattions during the period. 19 Events after the reporting period At present the trustees do not envisage the Covid-19 pandernic will result in a Significant adverse impact for the charity, however given that the outcome of the Covid-19 pandemic is uncertain we acknowledge that definitive assessment of its impatt cannot be made at this time. Page 21